Separate Account Accumulation Sample Clauses
The Separate Account Accumulation clause establishes that certain funds or assets will be held in a distinct account, separate from the general assets of the managing entity. This clause typically applies to insurance or investment contracts, where premiums or contributions are allocated to a separate account that is managed independently and may have its own investment objectives and performance. By segregating these assets, the clause ensures that the account holders' funds are protected from the general creditors of the managing entity, thereby providing greater security and transparency for the account holders.
Separate Account Accumulation. Value Number of Accumulation Units; Accumulation Unit Value (AUV); Fixed Account Accumulation Value; Fixed Account Guarantee Period Options; Market Value Adjustment
Separate Account Accumulation agreement means any contract which provides that amounts paid to the insurer shall be allocated by the insurer, in whole or in part, to one or more separate accounts for the purpose of accumulating or holding in such separate account amounts to
(a) accumulate or hold in such separate account funds to be applied to provide health insurance;
(b) accumulate or hold in such separate account funds credited under funding agreements delivered pursuant to section 3222 of the Insurance Law;
(c) accumulate or hold in such separate account funds for any purpose authorized in section 4240(a), provided that such agreement is not subject to Regulation No. 77.