Bullet Guaranteed Investment Contract (bgic)


Definition of "Bullet guaranteed investment contract (bgic)"

Dawn Crocker & Karen Baker-Anderson real estate agent
Dawn Crocker & Karen Baker-Anderson, Real Estate Agent Allen Tate Realtors-Matthews/Mint Hill

Type of guaranteed investment contract (GIC) under which a single payment is made into an account of an insurance company where it will remain for a stipulated number of years. Both the principal of the account and the interest rate are guaranteed by the insurance company. At an agreed upon future date, both principal and interest are returned to the payor (usually a defined benefit plan).

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Insurance Terms

Popular Insurance Questions