A retirement insurance policy which enables the assured to receive income for a specific period is?

The retirement insurance policy that enables the assured to receive income for a specific period is called an "annuity". An annuity is a contract between an individual and an insurance company where the individual pays a lump sum or periodic payments to the insurance company. In return, the insurance company guarantees to make periodic payments to the individual starting immediately or at a future date. An annuity that is designed to provide a specific amount of income for a specific period, usually until the individual's death, is referred to as a "fixed term annuity."