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 ?
According to the Sub-Accounts Unit, Arab tourists from the Gulf typically stay in Egypt for 10 nights at a time and visit a minimum of three times in one year.
In that sense, the fund's selection is revealing of VA carriers wanting to tamp down volatility at the sub-account level.
With variable annuities, our clients have the opportunity to adapt to economic changes by shifting assets from and between the various sub-accounts that represent different asset classes and sectors.
Sub-Accounts are opened and maintained by Participants (brokers, banks and DFIs) who perform securities transactions on behalf of their clients.
The contract holder decides when to activate the guarantee; when they do, funds are automatically shifted into the guaranteed sub-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.
Also, speaking of merging, MobileMe accounts which have no upgrades applied to them can now be converted to Family Pack sub-accounts.
He set up a life insurance policy for Graham where the primary benefit is the $1,000 premium payments that are placed into investment sub-accounts that will provide her with $1.
e-mail users will have 2GB of storage available for each of their ten e-mail sub-accounts, and their main account - bringing the total level of storage for a family or small business to 22GB.
When setting up the chart of accounts, sub-accounts can be established, which are also called "virtual bank accounts.
Unless separate sub-accounts are used to capture the accrued expense versus the payments and other adjustments to an accrued liability account, the only way to compute the expense versus the payments would be to review every transaction (journal entry) that was made to the accrued liability accounts.
Advanced deposit accounts have annual fees and allow for more sophisticated account management with the following options: Master and sub-accounts allow funds to be deposited into a single account and to "trickle down" to multiple sub-accounts.