GIC
Definition
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. ”
“ The GIC was used as the interest was the primary focus of the insurance company in their relationship with the insured. ”
“ Most pension funds must invest substantial portions of their portfolios in fixed income assets, thus they are natural buyers of GIC securities. ”
