Super Finance Glossary
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Searched for Guaranteed Investment Contract
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Guaranteed Investment Contract (GIC)
Definition: 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.
Definition: 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.
