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Guaranteed investment contract (GIC) |
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Guaranteed investment contract (GIC)A pure investment product in which a life company agrees, for a single premium, to pay at a maturity date the principal amount of a predetermined annual crediting (interest) rate over the life of the investment.Guaranteed investment contract (GIC) Similar MatchesGuaranteed minimum periodGuaranteed minimum periodThe period during which an annuity is paid irrespective of whether the annuitant dies during that period.If the annuitant lives beyond this period, payments continue until death. An annuity with such a guarantee could benefit people, with dependants who require the income to continue after their death. This means that the sum of money paid for the annuity would not be wasted in the event of early death. Guaranteed renewable policyGuaranteed renewable policyAn insurance policy which is guaranteed renewable provided premiums are paid. The policy conditions remain unchanged although the insurers may review premium rates. Guaranteed income bondGuaranteed income bondA bond in which a single premium secures a guaranteed regular income until maturity at which time the original premium is returned. Guaranteed insurabilityGuaranteed insurabilityA life and health insurance policy feature that enables the insured to add coverage at future times and at fixed and agreed-upon rates regardless of health conditions. Guaranteed death benefitGuaranteed death benefitPolicies where the company will pay out a certain amount when you die. Further SuggestionsGuaranteed renewable policy insuranceguaranteed growth bond guaranteed sum assured Guaranteed insurance contract Guaranteed bond Guaranteed replacement cost coverage insurance guaranteed death benefit guaranteed minimum pension Guaranteed Mortgage Certificates (GMC) guaranteed trust |
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