VARIABLE SUBACCOUNT Clause Samples
The VARIABLE SUBACCOUNT clause establishes a separate account within a larger financial arrangement, where the value of the subaccount fluctuates based on the performance of underlying investments or market indices. Typically used in insurance or investment contracts, this clause allows for the allocation of funds into subaccounts that may be tied to stocks, bonds, or other variable assets, with the account balance rising or falling accordingly. Its core function is to provide flexibility and potential for growth by exposing the subaccount to market performance, while also clearly segregating these variable assets from fixed or guaranteed portions of the contract.
VARIABLE SUBACCOUNT. That division within the Variable Account, the assets of which are invested in shares of a particular Fund. There is a separate Variable Subaccount for each particular Fund. The Owner may allocate new Purchase Payments or Transfers of Contract Value to any available Variable Subaccount. YOU, YOUR -- The Owner and any Joint Owner.
VARIABLE SUBACCOUNT. That portion of the Variable Account which invests in shares of a particular Fund. There is a separate Variable Subaccount for each particular Fund.
VARIABLE SUBACCOUNT. A subdivision of the Variable Separate Account, the assets of which are invested in a corresponding Fund.
VARIABLE SUBACCOUNT a particular subaccount under the Contract into which net Purchase Payments and accumulated value under a variable annuity contract may be allocated. Amounts in each Variable Subaccount are invested in a Separate Account Division.
VARIABLE SUBACCOUNT. To the extent permitted by applicable law, we reserve the right to postpone payment of any partial withdrawal, full surrender or death benefit proceeds from the Variable Subaccount Value for any period when:
VARIABLE SUBACCOUNT a particular subaccount under a Participant Account into which net Purchase Payments and accumulated value under a variable annuity contract may be allocated. Amounts in each Variable Subaccount are invested in a Separate Account Division. UITG-585-96 QUlGXST4 5 SECTION 2 PURCHASE PAYMENTS AND THE ACCUMULATION PERIOD
2.01 PURCHASE PAYMENT(S) Purchase Payments may be paid to VALIC at any time during the Accumulation Period for credit to Participant Accounts. Purchase Payments made under a retirement plan are subject to the terms of the plan. When a Purchase Payment is received in the Home Office of VALIC, a deduction will be made to cover any premium taxes due, resulting in a net Purchase Payment. Each net Purchase Payment is allocated by the Contract Owner to Fixed and/or Variable Subaccounts. Each net Purchase Payment allocated to a Variable Subaccount is applied separately to a Division to provide Units. The number of Units is equal to the net Purchase Payment per Variable Subaccount divided by the dollar value of one Unit for the respective Division for the valuation period of receipt. The number of Units will not vary with changes in the dollar value of a Unit. The value of a Unit in each Division may vary from one valuation period to the next.
VARIABLE SUBACCOUNT a particular subaccount under a Participant Account into which net Purchase Payments and accumulated value under a variable annuity contract may be allocated. Amounts in each Variable Subaccount are invested in a Separate Account Division. Page 4 UITG-CB-585-96 QUlPXST4 5 SECTION 2 PURCHASE PAYMENTS AND THE ACCUMULATION PERIOD
2.01 PURCHASE PAYMENT(S) Purchase Payments may be paid to VALIC at any time during the Accumulation Period for credit to a Participant's Account. Purchase Payments may be subject to the provisions of the Contract Owner's retirement plan. When a Purchase Payment is received in the Home Office of VALIC, a deduction will be made to cover any premium taxes due, resulting in a net Purchase Payment. Each net Purchase Payment is allocated by the Contract Owner to Fixed and/or Variable Subaccounts. Each net Purchase Payment allocated to a Variable Subaccount is applied separately to a Division to provide Units. The number of Units is equal to the net Purchase Payment per Variable Subaccount divided by the dollar value of one Unit for the respective Division for the valuation period of receipt. The number of Units will not vary with changes in the dollar value of a Unit. The value of a Unit in each Division may vary from one valuation period to the next.