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 .
GUARANTEED INVESTMENT CONTRACT (G.I.C.)
Meaning of GUARANTEED INVESTMENT CONTRACT (G.I.C.) in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012