Maturity Guarantee
The dollar amount of a contract (such as a life insurance policy or segregated fund contract) that is guaranteed after a certain amount of time has elapsed. Investopedia Says:
Usually within a life insurance policy or segregated fund contract, the beneficiary is entitled to a minimum dollar amount after 10 years have passed.
Also known as an "annuity benefit." Related Terms:
Beneficiary
Life Insurance
Segregated Fund |