subaccount

English - English

Definition of subaccount in English English dictionary

One of the separate investment accounts within a variable life policy Each subaccount has its own investment portfolio and objectives

One of several alternative pools of investments within an insurer's separate or segregated account into which a variable contract owner may allocate premiums paid Also known as variable investment account and variable subaccount See also general account, separate account, and segregated account

Subaccounts are the last four digits of the ten-digit account number in a subsidiary ledger account They are used to distinguish between different types of revenue and expense within an account

Hyphenation

sub·ac·count