Glossary

Government Bonds
These are effectively financial instruments used by the government to borrow money from the public. The rates of interest and term period of government bonds are fixed.

Grace Period
This provision offers the policy holder additional period of time after the due date, during which the premium can be paid. The policy continues to remain in force during this grace period and the premium continues to be payable.

Growth Fund
A fund whose primary investment objective is long-term growth of capital. It invests principally in common stocks with significant growth potential.

Guaranteed insurability option
An option which allows the policy owner to effect additional insurance at later dates without further evidence of health and irrespective of the date of the health of the life insured.