Examples of Subaccount in a sentence
All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount.
Any excess of the death benefit amount over the Account Value will be allocated to each applicable Subaccount in the Variable Account and/or the Fixed Account in the ratio that the Account Value in a Subaccount and/or the Fixed Account bears to the total Account Value.
Such election shall specify (i) whether each Plan Year Subaccount within the Plan Year Account is to be paid in a lump sum, in 20 substantially equal quarterly installments, or in five substantially equal annual installments, and (ii) the date on which such lump-sum payment is to be made and/or such installments are to commence.
Except to the extent expressly provided otherwise herein, all interest and other income from such investments shall be deposited in the Interest Collection Subaccount, any gain realized from such investments shall be credited to the Principal Collection Subaccount upon receipt, and any loss resulting from such investments shall be charged to the Principal Collection Subaccount.
The number of Subaccount Units will not change because of subsequent changes in the Subaccount Unit Value.