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Guaranteed investment contract

• Abbreviated 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.

 
 

Follow this link for all the terms related to investment.

 
 Embedded terms in definition
 Gic
Maturity date
Maturity
Premium
Principal amount
Principal
 
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