### Question
What is the definition of separate account?


### Answer
The definition of **separate account** is as follows in *29 U.S.C. § 1002*:

> an account established or maintained by an insurance company under which income, gains, and losses, whether or not realized, from assets allocated to such account, are, in accordance with the applicable contract, credited to or charged against such account without regard to other income, gains, or losses of the insurance company

#### Citation:
  - *29 U.S.C. § 1002*
  - Heading: **CHAPTER 18-EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM > SUBCHAPTER I-PROTECTION OF EMPLOYEE BENEFIT RIGHTS > Subtitle A-General Provisions**

