All of an insurer's assets other than those allocated to a separate account.

Traditionally, in life insurance companies, the term describing a company's overall investment portfolio. More recently, the separate investment funds upon which the declared rate of return in a universal life policy is based. Also, with variable and variable universal life policies, one of the investment account options that earns a declared rate of return.

The account where whole life as well as universal life insurance premiums, the Guaranteed Interest Option and other assets of the insurance company are invested.

The portfolio of assets backing an insurer's guaranteed products, such a whole life insurance and fixed rate annuities.

An undivided account in which life insurers record all incoming funds. A general account is usually an insurer's largest, although separate accounts can be used to fund specific liabilities as well.

A subset of the Unemployment Insurance Fund that allows for offset of negative balance transfers from employers' accounts, benefits not chargeable to any employer's account, and other items. It is funded by the interest earned on the Fund and the proceeds of subsidiary contributions, as well as normal contributions paid more than 60 days after the due date. For more information, refer to the UI Law.

The account that holds all of an insurer's assets other than those in the separate accounts. The general account holds the contributions paid for participating policies.

All the assets of a life insurance company other than those held in separate accounts. Separate accounts, or sub-accounts, are typically used for variable products, which pass actual investment experience including all capital gains and losses through to policy cash values. The assets backing all other products are held in the general account. The general account may be “segmented” to allocate certain investments to certain blocks of business for the purpose of setting current crediting rates. However, whether or not the general account is segmented, all general account assets are available when any line of business needs additional cash to pay current benefits. Thus, the safety of any general account product depends on the financial strength of all the company's product lines.

An account within an insurance company t is made up of the assets and investments t back the obligations of the insurance company.

Refers to the assets held by the insurance company to back their obligations for guaranteed or fixed-dollar benefits and contracts. Here, the insurance company is at risk. Compare to Separate Account.

Federal Reserve Board's term for a margin account provided to a customer by a brokerage firm. Governed by Regulation T of the FED.

An account that holds all of an insurer’s assets other than those in the separate accounts. (See also: separate account) Return to Previous

An undivided account in which life and health insurers formerly recorded all incoming funds. General accounts are still usually insurers' largest accounts, but since the early 1960s, life and health insurers have begun using other accounts as well. See also separate account.

The pooled investment account for assets backing the insurance liabilities of a life insurance company. Investments are made primarily in bonds, common and preferred stocks, mortgage loans, real estate, and private placement issues.

All assets of the insurance company not allocated to separate accounts.

See Margin (General) Account.

Insurance company's overall investment account that contains the assets that back the cash value accumulations of policyholders. The money in the account is invested in a variety of instruments ranging from short-term Treasury bifis to long-term corporate bonds. Insurers have less investment flexibility with general account assets than with separate account assets.

Federal Reserve Board term for customer's margin account subject to Regulation T (rules governing credit extensions to brokerage customers for the purchase and short sale of securities). The Fed requires that all margin transactions be made in this account. See: Federal Reserve Board; Margin Account; Regulation T

An undivided account in which life and health insurers maintain funds from guaranteed insurance products such as ordinary life insurance.

The account in which an insurance company invests premiums from traditional (guaranteed) fixed insurance products. This account will invest in fixed-income and other conservative investments to provide for minimum payouts to policyholders.