Guaranteed minimum period

 

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Guaranteed minimum period

The 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.



Similar Matches

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 trust

Guaranteed trust

Some 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 pension

Guaranteed minimum pension

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


Guaranteed growth bond

Guaranteed growth bond

A bond in which a single premium secures a guaranteed amount at its maturity date.


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.


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