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A Guaranteed Income Bond (GIB)
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A Guaranteed Income Bond (GIB)
A Guaranteed Income Bond (GIB) is a short-term life assurance contract guaranteeing a fixed income over a fixed term. The original investment is guaranteed to be repaid in full at the end of the term. The term is usually between three and five years, and the investment consists of fixed interest stocks.
UK based GIBs are paid net of basic tax, which cannot be reclaimed even by non-taxpayers. Offshore GIBs are paid gross, and deferment of tax is permitted.
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