Financial Terms Starting With G

Insurance covering risks other than long-term life protection, such as motor, travel, property and certain health or liability risks. Coverage depends on the specific policy wording, limits and exclusions.

A government-backed housing arrangement for eligible UAE nationals. Certain CBUAE mortgage provisions provide specific treatment for qualifying government housing programmes, subject to the programme and lender requirements.

An additional period allowed after a due date before a specified consequence applies. Its meaning differs by product, so a grace period should never be assumed to mean that no interest, profit, fee or coverage consequence can arise.

Salary before deductions. UAE lending rules commonly reference gross salary and other verifiable regular income when calculating repayment burden, although each lender can apply stricter affordability criteria.

Insurance arranged under a master policy for an eligible group, such as employees of a company. Benefits, eligibility and continuation of cover are governed by the master policy and membership conditions.

Insurance offered without the full underwriting normally required for comparable cover, subject to defined eligibility rules. It can still contain waiting periods, exclusions, benefit limits or other restrictions.

A person or entity that agrees to meet specified obligations if the primary borrower does not. Giving a guarantee can create significant financial liability and should be understood before signing.