separate account

Definition

A pooled fund created by an insurance company which is segregated from the general funds maintained by the company for the purpose of paying claims. Separate accounts invest in a variety of securities and funds and often contain retirement funds.

Use separate account in a sentence

You may want to try and keep a separate account that you can access if you need to get in to it.

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You should try to make sure you know how much is in your separate account so that you can plan on it.

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He opened a separate account for his friend because his friend was afraid of trying it and didn't know how to.

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disability insurance trust fund minority ownership