are guaranteed investment contracts federally insured 
no there is no federal insurance for guaranteed investment contracts unlike certificates of deposit cds many of which are covered by either the federal deposit insurance corp fdic or the national credit union administration ncua some insurance products are covered by state insurance guaranty associations however many of those associations do not extend their coverage to include gics 3the bottom lineguaranteed investment contracts gics are contracts between an insurance company and an investor typically a pension fund or an employer sponsored retirement plan such as a 401 k employees who participate in a 401 k or similar plan often have gics as one of their investment choices sometimes as part of a stable value fund because of their low interest rates gics are especially susceptible to the risk of inflation 