GUARANTEED INVESTMENT CONTRACT (G.I.C.)


Meaning of GUARANTEED INVESTMENT CONTRACT (G.I.C.) in English

&nbspA 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 .

Campbell R. Harvey. Hypertextual finance English glossary.      Английский словарь гипертекстовых финансов.