MATURITY GUARANTEE
\mət͡ʃˈʊ͡əɹɪti ɡˌaɹantˈiː], \mətʃˈʊəɹɪti ɡˌaɹantˈiː], \m_ə_tʃ_ˈʊə_ɹ_ɪ_t_i ɡ_ˌa_ɹ_a_n_t_ˈiː]\
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after a specific amount of time has passed, the pay-out is the guaranteed amount of a life insurance or segregated fund contract. After ten years have passed the contract's specified beneficiary will typically receive a minimum amount.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.