Description: This paper, originally published in March 1983 as a study note for exam part 10E, and in 1984 in the Transactions of Society of Actuaries Vol. 34, is designed to be a single reference source for actuaries who want to increase their understanding of a GIC. This educational paper provides knowledge on all aspects of GICs, including their history, and has received significant recognition, including the 1984-85 Annual Prize, and the L. Ronald Hill Memorial Prize in 1985.