GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Maturity Guarantee


Synonyms:growth guarantee, guaranteed due date, promised return
Filed Under: annuities, estate-management, financial-banking, insurance, investments, legal-contracts
Tags: annuity, banking, contract, insurance, investment, legal, life insurance
 

Definition of maturity guarantee

maturity guarantee
1. An agreement that after a set date a certain minimum dollar amount of a contract (for example a life insurance policy, annuity, or segregated fund) will be guaranteed.

Related Terms and Acronyms:

  • annuity   A financial instrument that disperses a number of payments over a set period of time.
  • annuity contract   A contract that outlines each party's responsibilities as they relate to an annuity.
  • bond   A certificate of debt issued by a government or corporation guaranteeing payment of the original investment plus interest by a specified future date.
  • guarantee   An enforceable warranty on the promise of quality of a product or formal promise by one person to take responsibility for the debts or obligations of another person if that person fails to meet them.
  • life annuity   An annuity that will continue to make payments until the death of the annuitant.
  • maturity   The date when the principal balance of a loan is due and payable to the lender. Also, the date when a bond pays off its principal.
  • revocable beneficiary   A beneficiary whose benefit can be modified without his or her consent.
  • segregated fund   Investment vehicles that feature both maturity and death guarantees. Segregated funds share similarities with mutual funds but are categorized as insurance products.
  • split-funded annuity   Two annuities purchased together, one with a deferred payout and the other with an immediate payout.
  • straight life annuity   An annuity that stops all payments upon the annuitant's death.

More Related Terms and Acronyms

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