guaranteed benefit policy
Defined in 1 place of the United States Code.
The term “guaranteed benefit policy” means an insurance policy or contract to the extent that such policy or contract provides for benefits the amount of which is guaranteed by the insurer. Such term includes any surplus in a separate account, but excludes any other portion of a separate account.
Source
- 1994–present29 U.S.C. § 1101Labor · Coverage · for purposes of this part