Guaranteed Investment Contract

A pension plan purchased through a bank or an insurance company for a lump sum in which the principal is guaranteed by the issuer. One may receive payments from a GIC either in installments or as a lump sum after retirement. A GIC provides the pensioner with a small interest rate that is not guaranteed, but the fact that the principal is guaranteed makes it a relatively low-risk investment.

GIC

See guaranteed investment contract.

Guaranteed investment contract (GIC).

A guaranteed investment contract, or GIC (pronounced gick), promises to preserve your principal and to provide a fixed rate of return when you begin to withdraw from the contract, typically after you retire.

You can invest in a GIC through a salary reduction plan, such as a 401(k) or 403(b) sponsored by your employer, provided that investment option is offered.

Because of their fixed rates, GICs are vulnerable to inflation. And you may have to pay a penalty if you decide to change from a GIC to a different investment.

Insurance companies that offer GICs assume the risk that the rate they earn on their investments will outperform the rates they've guaranteed on the GICs.

GIC

Acronym	Definition
GIC➣General Insurance Company (various locations)
GIC➣General Insurance Corporation of India
GIC➣Government Information Center
GIC➣Glass Ionomer Cement (dentistry)
GIC➣Global In-House Center
GIC➣Guaranteed Investment Certificate
GIC➣Geomagnetically Induced Current
GIC➣Guaranteed Investment Contract
GIC➣Gender Identity Clinic
GIC➣Governor-In-Council (Canadian Cabinet in Official Session)
GIC➣Global Identification Code
GIC➣Graphite Intercalation Compound (chemistry)
GIC➣Global Information and Communications (telecommunications)
GIC➣Geographic Information Center
GIC➣Government of Singapore Investment Corporation Pte Ltd
GIC➣Groninger Internet Courant
GIC➣Global Interdependence Center
GIC➣Going in Circles
GIC➣Gaeseong Industrial Complex (North Korea)
GIC➣Guaranteed Interest Contract (insurance)
GIC➣Guaranteed Income Contract (insurance)
GIC➣Global Impression of Change (health assessment)
GIC➣Green Industry Conference
GIC➣Grocery Innovations Canada (Canadian Federation of Independent Grocers)
GIC➣General Impedance Converter (operational amplifier filter design)
GIC➣Gifu International Center (Japan)
GIC➣Gas Industry Company Limited (New Zealand)
GIC➣Gemological Institute of Colombo (Colombo, Sri Lanka)
GIC➣Guaranteed Insurance Contract
GIC➣Grandparent Information Center (AARP)
GIC➣General Inpatient Care
GIC➣Gliding Induction Course
GIC➣Groupement Interprofessionnel pour la Construction (French real estate development company; est. 1991; Paris, France)
GIC➣GPS Integrity Channel
GIC➣Gamma Irradiation Center (Atomic Energy Organization of Iran)
GIC➣GNSS Integrity Channel (air traffic management)
GIC➣Gift in Crib (cribbage)
GIC➣General Interface Channel (HP3000 controller board)
GIC➣Ghana Investment Club
GIC➣Guidance Information Center
GIC➣General Information Criteria
GIC➣Generic Instrument Class Interface
GIC➣Gimnasio Internacional Cubano (Portugese)
GIC➣Group Indicator Code
GIC➣Gaussian Interference Channel