Retirement insurance is a financial product designed to provide individuals with income after they stop working. It typically involves making regular contributions during one's working years, which then accumulate and can be accessed during retirement. This type of insurance helps ensure that retirees have a steady source of income to cover living expenses. Many people choose to invest in retirement insurance plans, such as pension plans or annuities, to secure their financial future. These plans can vary in structure and benefits, but they all aim to provide financial stability and peace of mind during retirement years.