Business / Taxes / Separate Account: An insurance company’s separate account is established to hold the premiums you use to purchase funds included in variable annuity contracts the company offers. The separate account is distinct from the company’s general account, which holds the company’s assets as well as premiums for fixed annuities and fixed-income separate account funds. Assets in a company’s separate account are not vulnerable to the claims of creditors, as assets in the general account are. But they can be affected by the ups and downs of the marketplace. Any gain or loss in value results from the investment performance of the investments in the separate account funds you select.
Account Noun Synonyms: calculation, accounting, reckoning, computation, (financial) statement, enumeration
Separate Noun Synonyms: disjoin, pull or take or break apart, come or fall apart, fall or take or break to pieces, split or divide or break (up), split or break (off or away), disconnect, disengage, part, partition, sort (out), uncouple, disarticulate, disassemble, unhook, detac
Separate Adjective Synonyms: fork, split (up or off), bifurcate, diverge, branch
Separate Verb Synonyms: divided, separated, disjoined, disconnected, detached, isolated, discrete, distinct, individual, independent, solitary, different
Business / Accounting / Money Market Account: A type of savings account that may or may not be protected by the FDIC, with minimum balance requirements and usually higher interest rates than other types of savings accounts. MORE
Business / Taxes / Separate Account Fund: Each variable annuity contract offers a number of separate account funds. Each of those funds owns a collection of individual investments chosen by a professional manager who is striving to achieve a MORE