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 fixed-interest rates, usually for periods ranging from 3 to 5 years.” (Pension Management, May 1995, p. 50)

American business jargon. 2014.

Look at other dictionaries:

  • guaranteed investment contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law 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 — 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

  • 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… …   Financial and business terms

  • 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

  • Guaranteed Return on Investment Contract —   Refer instead to market linked deposit …   International financial encyclopaedia

  • Bank Investment Contract — ( BIC) interest guaranteed by the bank in a portfolio over a specific time frame with a specific yield. Bloomberg Financial Dictionary …   Financial and business terms

  • Bank Investment Contract - BIC — A security with an interest rate guaranteed by a bank. It provides a specific yield on a portfolio over a specified period. A BIC is a relatively safe investment, but it provides a low rate of return …   Investment dictionary

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