Guaranteed investment contract (GIC)

A pure investment product in which a life company agrees, for a single premium, to pay the principal amount of a predetermined annual crediting ( interest) rate over the life of the investment, all of which is paid at the maturity date. The New York Times Financial Glossary

Financial and business terms. 2012.

Look at other dictionaries:

  • 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

  • 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) 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. Bloomberg Financial… …   Financial and business terms

  • 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

  • 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

  • GIC — /ˌjē ˌī sē/ n: guaranteed investment contract at contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • GIC — ( guaranteed investment contract) 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 …   Financial and business terms

  • GIC —  Guaranteed investment contract …   American business jargon

  • GIC — The acronym GIC can refer to :* Global Inspiration Conference [http://www.globalinspiration.org www.GIC 2008] , a week long celebration of Conscious Breathwork * Guaranteed Investment Certificate, a financial instrument * Guaranteed Investment… …   Wikipedia

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