In the United States of America, retirement insurance benefit refers to a form of social insurance, commonly known as 'Social Security'. In South Africa, retirement insurance refers to pension funds or retirement annuities. Just like any other kind of insurance, the insured pays an insurance company a monthly premium which goes into a retirement policy. When the predetermined term expires, the policy will either pay the insured a monthly benefit or a lump sum as specified in the policy. It is always wise to invest in a well established retirement insurance company with a good track record. Financial records are public domain if the insurance company is listed on the stock exchange and it may be advisable to check these to ensure that the potential insurer has a solid financial standing.