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INSURANCE LIABILITIES AND ANNUITY BENEFITS (Tables)
 6 Months Ended
Jun. 30, 2023
Insurance [Abstract]  
Schedule of Insurance and Investment Contract Liabilities A summary of our insurance liabilities and annuity benefits is presented below:
June 30, 2023
Long-term careStructured settlement annuitiesLifeOther contractsTotal
Future policy benefit reserves
$25,888 $9,224 $985 $417 $36,514 
Investment contracts
— 830 — 8021,632
Other
— — 176351527 
Total
$25,888 $10,055 $1,161 $1,569 $38,673 
December 31, 2022
Future policy benefit reserves
$24,256 $8,860 $1,040 $437 $34,593 
Investment contracts
— 860 — 849 1,708 
Other
— — 178 365 544 
Total
$24,256 $9,720 $1,218 $1,651 $36,845 
Summary of Future Policy Benefits
The following tables summarize balances of and changes in future policy benefits reserves.
June 30, 2023June 30, 2022
Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLife
Balance, beginning of year$4,059 $— $4,828 $5,652 $— $6,622 
Beginning balance at locked-in discount rate3,958 — 5,210 4,451 — 5,443 
Effect of changes in cash flow assumptions1 — — — — — 
Effect of actual variances from expected experience31 — (87)(168)— (3)
Adjusted beginning of year balance3,991 — 5,122 4,283 — 5,440 
Interest accrual 105 — 100 115 — 102 
Net premiums collected(201)— (150)(221)— (166)
Effect of foreign currency— — 86 — — (25)
Ending balance at locked-in discount rate3,895 — 5,159 4,177 — 5,351 
Effect of changes in discount rate assumptions239 — (162)308 — (264)
Balance, end of period$4,134 $— $4,997 $4,485 $— $5,086 
Present value of expected future policy benefits
Balance, beginning of year$28,316 $8,860 $5,868 $40,296 $12,328 $7,923 
Beginning balance at locked-in discount rate27,026 8,790 6,247 27,465 9,024 6,560 
Effect of changes in cash flow assumptions(14)— — — — — 
Effect of actual variances from expected experience26 10 (44)(169)7 29 
Adjusted beginning of year balance27,038 8,800 6,203 27,296 9,030 6,588 
Interest accrual727 229 119 729 237 123 
Benefit payments(630)(338)(287)(563)(333)(275)
Effect of foreign currency— — 91 — — (26)
Ending balance at locked-in discount rate27,135 8,691 6,126 27,461 8,935 6,409 
Effect of changes in discount rate assumptions2,887 533 (144)3,365 683 (234)
Balance, end of period$30,022 $9,224 $5,983 $30,826 $9,618 $6,175 
Net future policy benefit reserves$25,888 $9,224 $985 $26,341 $9,618 $1,089 
Less: Reinsurance recoverables, net of allowance for credit losses(186)— (34)(3,897)— (80)
Net future policy benefit reserves, after reinsurance recoverables$25,702 $9,224 $952 $22,443 $9,618 $1,008 
The following table provides the amount of undiscounted and discounted expected future gross premiums and expected future benefits and expenses.
June 30, 2023June 30, 2022
Undiscounted
Discounted(a)
UndiscountedDiscounted(a)
Long-term care:
Gross premiums
$7,807 $4,995 $7,939 $5,117 
Benefit payments64,585 30,022 66,850 30,826 
Structured settlement annuities:Benefit payments19,608 9,224 20,308 9,618 
Life: Gross premiums13,620 6,125 14,286 6,290 
Benefit payments11,850 5,983 12,351 6,175 
(a) Determined using the current discount rate as of June 30, 2023 and 2022.
The following table provides the weighted-average durations of and weighted-average interest rates for the liability for future policy benefits.
June 30, 2023June 30, 2022
Long-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLife
Duration (years)(a)
13.111.15.313.611.35.8
Interest accretion rate5.5%5.4%5.1%5.5%5.4%5.0%
Current discount rate5.1%5.1%5.0%5.0%4.9%4.8%
(a) Duration determined using the current discount rate as of June 30 2023 and 2022.