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Guaranteed minimum period |
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Guaranteed 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.Similar MatchesGuaranteed death benefitGuaranteed death benefitA life policy in which there is a minimum sum payable on the death of the life assured. 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. 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 growth bondGuaranteed growth bondA bond in which a single premium secures a guaranteed amount at its maturity date. 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. Further SuggestionsGuaranteed replacement cost coverage insuranceGuaranteed death benefit guaranteed minimum pension guaranteed sum assured Guaranteed insurance contract guaranteed trust Guaranteed bond Guaranteed renewable policy insurance Guaranteed insurability guaranteed renewable policy |
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