Guaranteed insurance contract

A contract promising a stated nominal interest rate over some specific time period, usually several years. The New York Times Financial Glossary

Financial and business terms. 2012.

Look at other dictionaries:

  • guaranteed insurance contract — A contract promising a stated nominal interest rate over some specific time period, usually several years. Bloomberg Financial Dictionary …   Financial and business terms

  • Guaranteed Investment Contract — A guaranteed investment contract (GIC) is a contract that guarantees repayment of principal and a fixed or floating interest rate for a predetermined period of time. Guaranteed investment contracts are typically issued by life insurance companies …   Wikipedia

  • guaranteed investment contract — (GIC)  Retirement investment product offered by insurance companies.  ► “Most 401(k) plans offer some type of stable value investment option. Plan sponsors have chosen GICs, which are bond like obligations issued by insurance companies and pay… …   American business jargon

  • guaranteed investment contract — Fin an investment instrument issued by an insurance company that guarantees interest but not principal …   The ultimate business dictionary

  • Guaranteed Investment Contract - GIC — Insurance contracts that guarantee the owner principal repayment and a fixed or floating interest rate for a predetermined period of time. Guaranteed investment contracts are typically issued by insurance companies and marketed to institutions… …   Investment dictionary

  • Window Guaranteed Investment Contract — A type of investment plan where a series of payments are made to an insurance company, and the principal and interest rate are guaranteed by the insurance company to which payments are made. Window guaranteed investment contracts are similar to… …   Investment dictionary

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …   Universalium

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

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