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 ?
By July 1, across all sub-accounts, the city had an ending balance of $5.7 million, a slight decline of about $96,000 from the previous year's balance.
"North Dade agreed to become the depository institution for the vendor's MSB clients, providing sub-accounts for each MSB to conduct deposits and transfer funds," the agency said.
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.
Typically, the average VA has roughly 60 sub-accounts. "Every variable annuity carrier wants to have a well-rounded selection of investments inside their contracts," McCarthy states.
One key additional benefit in variable annuities is the ability to exchange sub-accounts with no current income tax consequences and at low or no cost.
the "share" into a trust, with sub-accounts designated for each
Minister of Local Administration, Omar Ghalawanji, reviewed the decisions already taken by the Committee regarding the transfer of SYP 1.3 billion from its accounts to private sub-accounts in the provinces for compensations of 100 % of the damage's value to affected citizens before June 15, 2012.
Other features include QuickBooks integration, master and sub-accounts, as well as secure storage vault.
The advisor told me that the funds had been allocated in growth, and growth and income sub-accounts, but no bond sub-account.
Offered through the Bank's electronic banking channel, Straight2Bank, users can immediately arrange for collection and payment from individual customers via the newly created bank accounts (sub-accounts) and obtain real-time account information on all accounts.
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.