Definition
Principal is guaranteed by the issuer. GICs purchased through a CDIC member bank are CDIC-insured up to $100,000 per insured category. Sold either as conventional GICs (fixed rate, fixed term, typically non-redeemable) or as market-linked GICs (return tied to an index, with a floor at the principal).
Source
CDIC Act; CSA Staff Notice 81-330 (market-linked GICs)