Separate Account definition

Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.
Separate Account includes reference to each Division to the extent the context requires) of the Separate Account for investment in Class B shares of corresponding Portfolios of the Fund that are made available through the Separate Account to act as underlying investment media,
Separate Account. We established the Separate Account under the laws of the state of California. The Separate Account is maintained under the laws of our state of domicile. Any income, gains or losses (whether or not realized) from the assets of each Variable Account are credited or charged against such Variable Account without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this Contract and other variable annuity contracts. Assets may be put in our Separate Account for other purposes, but not to support contracts other than variable annuity contracts. The assets of our Separate Account are our property. The portion of the Separate Account assets equal to the reserves and other Contract liabilities with respect to each Variable Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a separate account in excess of the reserves and other liabilities with respect to its Variable Accounts to another separate account or to our General Account. All obligations arising under the Contract are our general corporate obligations. We do not hold ourselves out to be trustees of the Separate Account assets. We reserve the right, subject to compliance with the law then in effect, and after any required regulatory approval, to: • cease offering any Subaccount; • add or change designated investment companies or their portfolios, or other investment vehicles; • add, delete or make substitutions for the securities and other assets that are held or purchased by the Separate Account or any Variable Account; • permit conversion or exchanges between portfolios and/or classes of contracts on the basis of Owners’ requests; • add, remove or combine Variable Accounts; • combine the assets of any Variable Account with any of our other Separate Accounts or of any of our affiliates; • register or deregister Separate Account A or any Variable Account under the 1940 Act; • operate any Variable Account as a managed investment company under the 1940 Act, or any other form permitted by law; • run any Variable Account under the direction of a committee, board, or other group; • restrict or eliminate any voting rights of Owners with respect to any Variable Account or other persons who have voting rights as to any Variable Account; • make any changes required by the 1940 Act or other federal securities laws; • make any changes necessary to maintain the status of the Contracts as annuities under th...

Examples of Separate Account in a sentence

  • Directed Services, LLC serves as principal underwriter for all contracts issued by Venerable Insurance and Annuity Company through its Separate Accounts A, B, EQ, U and Alger Separate Account A.

  • Separate Account GICs and Security Backed Investment Contracts earn an income yield which is determined by a crediting rate formula that reflects the earnings of the Contracts’ underlying fixed income securities with gains or losses “smoothed” over time through the crediting rate formula.

  • The Separate Account is divided into Investment Accounts, each of which invests in shares of one portfolio of affiliated and third-party mutual funds.

  • QVT Financial has the power to direct the vote and disposition of the Common Stock held by each of the Fund and the Separate Account.

  • You do not share in the investment performance of assets allocated to the Separate Account.


More Definitions of Separate Account

Separate Account means a separate account duly established by Insurance Company that invests in a Portfolio and is named on Schedule 1.
Separate Account. A separate account that buys and holds shares of the Fund(s). Income, gains or losses, realized or unrealized, are credited or charged to the Separate Account without regard to other income, gains or losses of Aetna. Aetna owns the assets held in the Separate Account and is not a trustee as to such amounts. This Separate Account generally is not guaranteed and is held at market value. The assets of the Separate Account, to the extent of reserves and other contract liabilities of the Account, shall not be charged with other Aetna liabilities.
Separate Account means any of the Separate Accounts described or referred to in Sections 2.02 and 2.05 and the Data Pages of this Contract.
Separate Account. ’ means an account established and maintained by an insurance company pursuant to the laws of any State or territory of the United States, or of Canada or any province thereof, under which income, gains and losses, whether or not realized, from assets allocated to such account, are, in ac- cordance with the applicable contract, cred- ited to or charged against such account with- out regard to other income, gains, or losses of the insurance company.
Separate Account means a separate account duly established by Insurance Company and set forth on Exhibit A, as such Exhibit may be revised from time to time.
Separate Account means _____________________ Company Variable Annuity Separate Account, a separate account established by Insurance Company in accordance with the laws of the State of __________.
Separate Account. We assess certain daily charges equal on an annual basis to the percentages set out below of the average daily net asset value of each Subaccount of the Separate Account: Mortality and Expense Charge: 1.45% Administration Charge: 0.25% Death Benefit Rider Charge: 0.30% Additional Death Benefit Rider Charge: 0.25% Contract Level: We assess a Guaranteed Minimum Income Benefit Rider Charge of 0.35% of the Income Base.]