Understanding Guaranteed Renewable Policies A guaranteed renewable policy is a crucial insurance feature that ensures continuous coverage, provided premiums are paid. This policy guarantees re-insurability but allows for premium adjustments…
What Is a Haircut? A haircut, in finance, carries two significant meanings. It is commonly understood as the percentage difference between an asset’s market value and the amount deemed acceptable…
What Was the Halloween Massacre? The Halloween Massacre denotes the pivotal 2006 Canadian government decision to subject all Canadian income trusts to taxation akin to corporations. On October 31, 2006,…
Understanding Grace Periods A grace period is a specified timeframe following a payment due date during which a payment can be made without repercussions. Commonly found in mortgage loans and…
What Is Graded Vesting? Graded vesting is a method through which employees gradually acquire ownership of employer contributions to their retirement account, traditional pension benefits, or stock options over time.…
Understanding Graduated Payment Mortgages (GPMs) A graduated payment mortgage (GPM) is a type of fixed-rate mortgage that features payments starting at a low level and gradually increasing to a higher…
Understanding the Gross Debt Service Ratio The gross debt service (GDS) ratio is a crucial indicator that financial institutions utilize to evaluate the proportion of housing debt relative to a…
What Are Growing-Equity Mortgages (GEMs)? Growing-Equity Mortgages (GEMs) are a unique type of fixed-rate mortgage designed to help borrowers pay off their loans faster and build home equity more rapidly.…
What Is Guaranteed Investment Income (GIF)? Guaranteed Investment Income (GIF) is an investment product provided by insurance companies that allows clients to invest in equity, bond, or index funds while…
Understanding Guaranteed Lifetime Withdrawal Benefits (GLWBs) A Guaranteed Lifetime Withdrawal Benefit (GLWB) is an add-on to a variable annuity that ensures a minimum payout level, regardless of market fluctuations that…