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The domain 'BULLETCONTRACT.COM' is for sale. Click here to view at Sedo.com. [Google Ads] Bullet Contract is a guaranteed investment contract purchased with a single (one-shot) premium. Bullet Guaranteed Investment Contract (BGIC):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).
Contract between an insurance company and a corporate profit-sharing or pension plan that guarantees a specific rate of return on the invested capital over the life of the contract. Many defined contribution plans, such as 401(k) and 403(b) plans, offer guaranteed investment contracts as investment options to employees. Although the insurance company takes all market, credit, and interest rate risks on the investment portfolio, it can profit if its return exceeds the guaranteed amount. Only the insurance company backs the guarantee, not any governmental agency, so if the insurer fails, it is possible that there could be a default on the contract. For pension and profit-sharing plans, guaranteed investment contracts, also known as GICs, are a conservative way of assuring beneficiaries that their money will achieve a certain rate of return.
Bank Investment Contract (BIC): Contract issued by a bank to a corporate investor, usually a company-sponsored profit sharing plan or 401(k) plan, guaranteeing a fixed rate of return on invested capital over the life of the contract. A bank investment contract is similar to a guaranteed investment contract (GIC) sold by insurance companies, has a maturity of one to ten years, and the added protection of federal deposit insurance up to the $100,000 limit per insured account.
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