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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 trustGuaranteed trustSome unit trusts offer a floor price and guarantee their bid price will not be allowed to fall below that level. They also 'lock in' any growth achieved every few months.From an investor's point of view, this guarantee provides reassurance about the value of their investment. Even if the value of the trust's assets falls well below the floor, the bid price (the amount that an investor can sell his units for) will remain at the guaranteed level. Guaranteed 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 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 death benefitGuaranteed death benefitPolicies where the company will pay out a certain amount when you die. Guaranteed death benefitGuaranteed death benefitA life policy in which there is a minimum sum payable on the death of the life assured. Further Suggestionsguaranteed sum assuredGuaranteed bond guaranteed renewable policy guaranteed minimum pension guaranteed growth bond Guaranteed renewable policy insurance Guaranteed replacement cost coverage insurance Guaranteed Mortgage Certificates (GMC) Guaranteed insurability Guaranteed insurance contract |
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