Guaranteed minimum pension

 

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Guaranteed minimum pension

The minimum pension payable by a pension scheme in order that members may contract out of S2P (State Second Pension).



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Guaranteed sum assured

Guaranteed sum assured

A term used by some life companies which refers to the minimum sum payable by a life policy either on the death of the life assured or on maturity.


Guaranteed investment contract (GIC)

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 bond

Guaranteed bond

A type of bond for which a firm other than the issuer guarantees its interest and principal payments.


Guaranteed insurability

Guaranteed insurability

A 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 benefit

Guaranteed death benefit

Policies where the company will pay out a certain amount when you die.


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