Minimum income guarantee
Minimum income guaranteeThe Minimum Income Guarantee tops up pensioners' incomes from the basic state pension. In the year 2003, the top up is to £102.10 a week for a single person to £155.80 for a couple.The MIG rises with wages inflation which tends to move faster than price inflation (on which the basic state pension is based) so in time the gap between the state pension and the MIG should grow.Anyone with assets over £12,000 is disqualified from the MIG.
Guaranteed bondGuaranteed bond
A type of bond for which a firm other than the issuer guarantees its interest and principal payments.
Guaranteed death benefitGuaranteed death benefit
Policies where the company will pay out a certain amount when you die.
MIG Mortgage Indemnity GuaranteeMIG Mortgage Indemnity Guarantee
This is insurance for the lender paid by the consumer in a one-off payment, on 'high' LTV mortgages. This protects the lender in the event that you default on the loan and the sale of the property is not enough to repay the amount that they are owed. Some lenders will insist you pay this if your mortgage is for as low as 75% of the value of the property, but 90% is a more common level. Some lenders will not insist on it regardless of the loan value. You can often add this fee to the loan, but be aware that you will then be paying interest on it until the loan is repaid in full.
Signature guaranteeSignature guarantee
The authentication of a signature in the form of a stamp, seal, or written confirmation by a bank or member of a domestic stock exchange (or other acceptable guarantor). A notary public cannot provide a signature guarantee. A signature guarantee is a common requirement when transferring or redeeming shares or changing the ownership of an account.
Guaranteed insurance contractGuaranteed insurance contract
A contract promising a stated nominal interest rate over some specific time period, usually several years.
Further SuggestionsGuarantee mortgage
guaranteed death benefit
guaranteed income bond
Guaranteed renewable policy insurance
Guaranteed Mortgage Certificates (GMC)
Medium Term Guarantee Program
Financial guarantee insurance
Indemnity Guarantee Premium
Multilateral Investment Guarantee Agency (MIGA)
Guaranteeing or Avalising Bank
Letter of Guarantee
guaranteed growth bond
guaranteed minimum pension
guaranteed minimum period
Guaranteed replacement cost coverage insurance
Guaranteed investment contract (GIC)
guaranteed sum assured
guaranteed renewable policy
Export Credits Guarantee Department