What Does Guaranteed Investment Contract Mean?

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What does Guaranteed Investment Contract mean? Read on to discover the definition & meaning of the term Guaranteed Investment Contract - to help you better understand the language used in insurance policies.

Guaranteed Investment Contract

Guaranteed Investment Contract

A Guaranteed Investment Contract (GIC) is a legal agreement between a person or entity and an insurance company wherein the former provides financial assets to the latter with the assurance that those assets will be returned and will yield a profit based on a fixed schedule.

We hope the you have a better understanding of the meaning of Guaranteed Investment Contract.

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