General Mortgage Bond - A bond that is secured by a blanket mortgage on the company's property but may be outranked by one or more other mortgages.

Gift Tax - A tax on gifts, usually only over $12,000 (2006 amount), to non-charitable beneficiaries. For gifts that exceed the annual gift tax exclusion, the donor is required to file a gift tax return and pay all applicable taxes. The person who receives the gift does not have to pay any gift tax because of it.

Gift Tax Exclusion - The maximum amount one person is allowed to give to another person without incurring Federal gift tax. The current annual exclusion is $12,000 (2006 amount) per year per recipient. There is no limit on the number of these gifts you can make to different people in a year. A husband and wife can give a total of $24,000 ($12,000 each) to the same person each year. To qualify for the exclusion, a gift must be of a "present interest," meaning that the recipient can make use of the gift immediately, and the donor must not have any control over the asset after it is given. There are no exclusion limits on gifts given to a spouse unless the spouse is not a U.S. citizen. Generally, if a gift qualifies for the exclusion, the donor does not have to file a gift tax return. The person who receives the gift does not have to pay any gift tax because of it.

Gilt-edged - High-grade bond issued by a company that has demonstrated its ability to earn a comfortable profit over a period of years and pay its bondholders their interest without interruption.

Give-up - A term with many different meanings. For one, a member of the exchange on the floor may act for a second member by executing an order for him or her with a third member. The first member tells the third member that he or she is acting on behalf of the second member and "gives up" the second member's name rather than his or her own.

Gold fix - The setting of the price of gold by dealers (especially in a twice-daily London meeting at the central bank); the fix is the fundamental worldwide price for setting prices of gold bullion and gold-related contracts and products.

Good delivery - Certain basic qualifications must be met before a security sold on the Exchange may be delivered. The security must be in proper form to comply with the contract of sale and to transfer title to the purchaser.

(GTC) or open order - An order to buy or sell that remains in effect until it is either executed or canceled.

Government bonds - Obligations of the U.S. Government, regarded as the highest grade securities issues.

Grace Period - This is the period of time (usually 30 days) during which you can still pay your premium after its due date. Your policy will remain in force during the grace period. But if you have a claim, the premium remaining due will be deducted from any payment of benefits. If you don't pay the premium by the end of the grace period, your policy will lapse.

Grantor - The person who creates a trust; also called a Trustor.

Growth stock - Stock of a company with a record of growth in earnings at a relatively rapid rate.

Guaranteed Renewable - Most Medicare Supplement and long-term care insurance policies are guaranteed renewable. That is, the policy cannot be cancelled by the insurance company unless: (1) you committed fraud in your application for the policy, (2) you have not paid the required premium and the policy has lapsed, or (3) benefits have been exhausted. A guaranteed renewable policy cannot be cancelled because of a change in your health condition, or your marital or employment status. However, the insurance company may increase premiums, but only on an entire class of policies, not just on your policy, and never because of any claims paid to you.

Guarantor - A person who guarantees to pay for someone else's debt if he or she should default on a loan obligation.

Guardian - A person who is appointed by a court and charged with the legal duty to care for another person who is unable to care for himself or herself.