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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
As part of the resolutions made at the end of the meeting, operators or their representatives are to each open and fund a domiciliary account with which to effect all financial transactions with NAMA through monetary transfers to the agency's sub-account with the CBN using a smart phone.
Donations can be made to the sub-account at the Philippine Embassy in Riyadh through the Saudi Hollandi Bank: Account Number 037-040-790-022 International Bank Account Number (IBAN): SA 61-5000-0000-0370-4079-0022 Swift Code: ALSARI.
Donations for Zapanta may be made to the Riyadh Philippine Embassy's sub-account in the Saudi Hollandi Bank: Account Number 037-040-790-022, International Bank Account Number (IBAN): SA 61-5000-0000-0370-4079-0022, Swift Code: AAALSARI
Under the SEBI (Foreign Portfolio Investors) Regulations, 2013, foreign institutional investors, sub-account holders and qualified foreign investors will be merged into a new investor class called Foreign Portfolio Investors.
In that sense, the fund's selection is revealing of VA carriers wanting to tamp down volatility at the sub-account level.
Other benefits come from the company, like death benefits, living benefits and sub-account choices.
sub-account of the member with the eligible medical bill.
activities are funded by allocations at the sub-account level and were
To de-risk, insurers not only are reducing the guarantee percentages and raising the fees associated with these benefits, they're restructuring the benefits altogether, pushing more risk down to the investor using volatility-based fee structures, ETF-based sub-accounts, dual-sleeve designs (with one sleeve consisting of lower-risk sub-account investments to underpin the living benefit and the other of higher-risk sub-account investments to underpin the base contract), and the like.
The advisor told me that the funds had been allocated in growth, and growth and income sub-accounts, but no bond sub-account.
The brokerage house and its bigwigs also misused the powers given to them under the 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.