Synthetic Guaranteed Investment Contract

Definition of "Synthetic guaranteed investment contract"

Modified guaranteed investment contract (GIC) in which the underlying assets of the synthetic contract are owned by the plan itself rather than the insurance company as is the case with the GIC. This ownership right is of particular importance if there is a concern about the long-term financial soundness of an insurance company. The synthetic plan segregates the plan's assets from the assets of the insurance company.

Search Real Estate Glossary

Related Real Estate Glossary terms

In-area Emergency Services

Provision of health maintenance organization (HMO) coverage. A member who is critically injured with ...

Pooling Charge

Amount that each member of a pool contributes to that pool. ...

Health Insurance Futures

One-year futures contract (standardized agreement between two parties to buy or sell a commodity or ...

Tabular Plans

Retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. ...

Nonconforming Use

property use which is in violation of the current zoning ordinance, but had been in use prior to the ...

Excess Income(rent)

Rental income received from property that exceeds the costs of owning and maintaining the property. ...

Related Real Estate FAQ

What Is A Private Mortgage?

Private mortgage insurance is insurance that protects mortgage lenders against default on loans by p ...

What Is A Buyer’s Agent?

An agent hired by buyers to help them find and negotiate the purchase of a home. This agent works fo ...

What Is A Mortgage Broker?

A mortgage broker is an intermediary who ensures a loan between a borrower and lender. The broker ta ...

What Is A Maintenance Fee?

A maintenance fee is a charge by condominium associations, co-ops, or other homeowners associations ...

What Are Basis Points?

Basic points relates to changes in the interest rate for your home. ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

How is Square Footage Determined? Is it better to buy or sell a home first Home Prices - The Extra Costs 6 Reasons you are not selling properties How To Get A Loan with Bad Credit

FAQ

What if the computer I want to insure is homemade or custom-built? What is hazard insurance? What is equity? What is a Multiple Listing Service (MLS)? What is an adjustable-rate mortgage (ARM)?