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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 death benefitGuaranteed death benefitA life policy in which there is a minimum sum payable on the death of the life assured. Guaranteed renewable policy insuranceGuaranteed renewable policy insuranceA type of insurance policy that requires the insurer to renew the policy to an individual regardless of health changes. No changes may be made to an individual policyholder unless the same change is applied to all policyholders. Guaranteed bondGuaranteed bondA type of bond for which a firm other than the issuer guarantees its interest and principal payments. Guaranteed minimum pensionGuaranteed minimum pensionThe minimum pension payable by a pension scheme in order that members may contract out of S2P (State Second Pension). Guaranteed Mortgage Certificates (GMC)Guaranteed Mortgage Certificates (GMC)First issued by Freddie Mac in 1975, G.M.C.s, like PCs, represent undivided interest in specified conventional whole loans and participations previously purchased by Freddie Mac. Further Suggestionsguaranteed growth bondguaranteed sum assured Guaranteed replacement cost coverage insurance guaranteed minimum period Guaranteed insurance contract guaranteed renewable policy Guaranteed death benefit guaranteed trust Guaranteed insurability guaranteed income bond |
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