Nonunitized Separate Account definition

Nonunitized Separate Account. An account set up by Aetna under Tile 38, Sec. 38-154a, of the Connecticut General Statutes, which is used to hold assets for GA Account Terms greater than three years. The Owner or Participant, as applicable, does not participate in the investment gain or loss from the assets held in the GA Account. The Guaranteed Accumulation Account (GA Account) is amended and restated as follows: The GA Account guarantees stipulated rates of interest for stated periods of time (see (1) and (3) below). Amounts withdrawn before the end of a Guaranteed Term may be subject to a Market Value Adjustment (MVA) (see (7) below).

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Nonunitized Separate Account. An account established by Aetna under Section 38a-433 of the Connecticut General Statutes that holds assets for GA Account Terms (See 1.21) greater than three years. The Contract Holder or Participant does not participate in the investment gain or loss from the assets held in the Nonunitized Separate Account. Such gain or loss is borne entirely by Aetna. Assets in this account may be charged with liabilities arising out of any other Aetna business.

Nonunitized Separate Account. A separate account set up by Aetna under Title 38, Section 38a-433, of the Connecticut General Statutes, that holds assets for AMG Account Guaranteed Periods. There are no discrete units for the AMG Account. The Certificate Holder does not participate in the investment gain or loss from the assets held in the Nonunitized Separate Account. Such gain or loss is borne entirely by Aetna. The assets held in the AMG Account may be chargeable with liabilities arising out of any other business of Aetna.

Examples of Nonunitized Separate Account in a sentence

Nonunitized Separate Account assets, to the extent of reserves and other Contract liabilities, cannot be charged with liabilities arising out of any other business we conduct.
We own the assets held in the Nonunitized Separate Account; we are not a trustee of those assets.
Amounts allocated to the Guaranteed Accumulation Account are held in the Nonunitized Separate Account.
The Contract Holder or Participant does not participate in the investment gain or loss from assets held in the Nonunitized Separate Account.
The Nonunitized Separate Account is established under Title 38a, Section 38a-433 of the Connecticut General Statutes.
General Account The account that holds our assets other than those held in the Separate Account or Nonunitized Separate Account.
The assets of the Nonunitized Separate Account, to the extent of reserves and other contract liabilities, may not be charged with other Company liabilities.
Income, gains or losses, realized or unrealized, are credited to or charged against the Nonunitized Separate Account without regard to our other income, gains or losses.
Refusal by a Contractor to employ the dispatched worker (such refusal also a “turnaround”), requires a written explanation from the Contractor that shall be copied to the Prime Contractor (if different), SPS and the affected Union, within two business days.
The account holding the assets of the Company, other than those assets held in a Separate Account or a Nonunitized Separate Account.

More Definitions of Nonunitized Separate Account

Nonunitized Separate Account. A separate account set up by Aetna under Title 38, Section 38a-433, of the Connecticut General Statutes, that holds assets for AG Account Terms. There are no discrete units for this Account. The Contract Holder does not participate in the investment gain or loss from the assets held in the Nonunitized Separate Account. Such gain or loss is borne entirely by Aetna. These assets may be chargeable with liabilities arising out of any other business of Aetna.

Nonunitized Separate Account. An account set up by Aetna under Title 38, Sec. 38-154a, of the Connecticut General Statutes, which is used to hold assets for GI Account Terms greater than three years. The Contract Holder does not participate in the investment gain or loss from the assets held in the GI Account.