Guaranteed Investment Contract. Debt instrument issued by an insurance company, usually in a large denomination, and often bought for retirement plans. The interest rate paid is guaranteed, but the principal is not. also called guaranteed interest contract.

Use GIC in a sentence

I signed a GIC and hoped that it would mean good things for me and the company in the future.

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The GIC was used as the interest was the primary focus of the insurance company in their relationship with the insured.

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Most pension funds must invest substantial portions of their portfolios in fixed income assets, thus they are natural buyers of GIC securities.

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pre-encashable deposit participating GIC