Common use of Nonunitized Separate Account Clause in Contracts

Nonunitized Separate Account. An account set up by the Company under Section 38a-433 of the Connecticut General Statutes, that holds assets allocated to GAA. There are no discrete units for this account. The Contract Holder does not participate in the investment gain or loss from assets held in the Nonunitized Separate Account. Such gain or loss is borne entirely by the Company. The assets of the Nonunitized Separate Account, to the extent of reserves and other contract liabilities, may not be charged with other Company liabilities.