Life Insurance Directly Sold

Also known as guaranteed insurance accounts, a stable value investment option entirely offered and guaranteed by a single insurance company, with the underlying assets managed by the insurance company or an affiliated investment manager. Guaranteed insurance accounts may be provided via a group annuity contract or a funding agreement that can be issued either from the insurer’s general account or from an insurance company separate account, in which case the investment is first supported by the assets in the segregated separate account and then, to the extent necessary, by the insurer’s general account assets and surplus. (See also guaranteed investment contract and pooled GIC fund.)