VSA definition
Examples of VSA in a sentence
The quarterly change (or monthly change as applicable) in a VSA Payable Liability shall be calculated in accordance with the provisions of Schedule 3.4. The Reinsurer will set up a corresponding account receivable on its statutory books equal to the VSA Payable Liabilities.
Investment income, capital gains and losses earned or accrued on the assets held in a VSA shall be credited to the VSA.
The Company will establish one or more accounts payable (the "VSA Payable Liability") on its statutory books equal to the difference between the aggregate VSA Accumulated Value and the aggregate Statutory Reserves related to a VSA.
A valuation adjustment of a VSA will be computed by the Company in accordance with the provisions of Schedule 3.2 as of the beginning of each calendar quarter to the end of such calendar quarter, or more frequently as mutually agreed by the parties, commencing with the calendar quarter following the Effective Date ("VSA Valuation Adjustment").
The Company shall own and control all Variable Separate Account Assets in a VSA and all reserves related thereto shall remain in a VSA.