Subaccount

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Subaccount

A term used in bookkeeping. For example, the insurance expense account may have various different subcategories such as building and property insurance, auto/fleet insurance, general liability, environmental, professional liability, law enforcement, and other insurance.

Subaccount

An account within an account. For example, funds in a subaccount may be available only to a certain person, or may be used only for a certain purpose.

Subaccount.

The separate account funds to which you allocate your variable annuity premiums are sometimes called subaccounts.

Each subaccount is managed by an investment specialist, or team of specialists, who make buy and sell decisions based on the subaccount's objective and their analysts' research.

If you're comparing different contracts to decide which to purchase, among the factors to consider are the variety of subaccounts each contract offers, the past performance of those subaccounts, the experience of the professional manager, and the fees.

In evaluating the past performance and other details of the subaccounts a contract offers, or those you select in the contract you choose, you can use the prospectus the annuity company provides for each subaccount. You may also be able to find independent research from firms such as Morningstar, Inc., Standard & Poor's, and Lipper. However, past performance is not indicative of future results.

References in periodicals archive ?
Typically, the average VA has roughly 60 sub-accounts.
The ability to make sub-account exchanges is a paramount benefit in the variable annuity.
CDC has advised all Sub-Account Holders to carefully read the account statements and contact their Participant and CDC in case of any discrepancy.
More annuity providers are constructing hedged VA sub-account portfolios around instruments such as ETFs, and then requiring investors to allocate a portion of contract funds to those hedged portfolios.
Therefore, the court finds that plaintiffs have failed to establish through the evidence before the court that [the plaintiffs'] funds could theoretically earn net interest in a sub-account.
Their joint contributions were segregated into two equal subaccounts and separate contributions would be added to the particular grantor's sub-account.
SaveDaily launched an HSA investment sub-account product, which is designed to link with existing banks and other entities that provide or manage direct deposit account support for HSAs.
The IDB segregates the proceeds from EYE bonds in a separate sub-account, disbursing funds only to education, youth or unemployment projects which fulfill specific criteria.
Investors can apply to subscribe to NCS by submitting a NCS Account Opening Form for admission as NCS eligible client of NCCPL, UIN Information System ("UIS") Account Opening Form to perform activities and to view on-line reports pertaining to NCS and CDS Account Opening Form to open and maintain CDS sub-account with NCCPL (forms are available on the website of NCCPL).
AXA Equitable's Retirement Cornerstone variable annuity takes a two-bucket approach, with one bucket made up of a non-guaranteed equity-invested sub-account (called the "Investment Performance Account") and the other (dubbed the "Protection with Investment Performance Account") comprised of guaranteed investments to underpin the contract's optional income and death benefit guarantees.
They and their bigwigs also misused the powers given to them under CDC sub-account opening form in moving or pledging the shares of their clients from their respective sub-accounts, resulting in a total loss to the clients.
Boy, I was surprised to find that the sub-account no longer existed.