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INSURANCE LIABILITIES AND ANNUITY BENEFITS (Tables)
3 Months Ended
Mar. 31, 2024
Insurance [Abstract]  
Schedule of Insurance and Investment Contract Liabilities A summary of our insurance liabilities and annuity benefits is presented below:
March 31, 2024
Long-term careStructured settlement annuitiesLifeOther contractsTotal
Future policy benefit reserves
$25,722 $8,909 $1,054 $375 $36,059 
Investment contracts
— 776 — 710 1,486 
Other
— — 112277 389 
Total
$25,722 $9,685 $1,166 $1,361 $37,934 
December 31, 2023
Future policy benefit reserves
$26,832 $9,357 $1,117 $382 $37,689 
Investment contracts
— 793 — 742 1,535 
Other
— — 116 285 400 
Total
$26,832 $10,150 $1,233 $1,409 $39,624 
Summary of Future Policy Benefits
The following tables summarize balances of and changes in future policy benefits reserves.

March 31, 2024March 31, 2023
Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLife
Balance, beginning of year$4,063 $— $4,803 $4,059 $— $4,828 
Beginning balance at locked-in discount rate3,745 — 4,773 3,958 — 5,210 
Effect of changes in cash flow assumptions17 — — — — — 
Effect of actual variances from expected experience— (2)29 — (35)
Adjusted beginning of year balance3,769 — 4,771 3,987 — 5,175 
Interest accrual 51 — 45 53 — 50 
Net premiums collected(98)— (70)(103)— (73)
Effect of foreign currency— — (69)— — (23)
Ending balance at locked-in discount rate3,721 — 4,678 3,936 — 5,129 
Effect of changes in discount rate assumptions211 — (151)281 — (149)
Balance, end of period$3,932 $— $4,527 $4,217 $— $4,979 
Present value of expected future policy benefits
Balance, beginning of year$30,895 $9,357 $5,921 $28,316 $8,860 $5,868 
Beginning balance at locked-in discount rate27,144 8,561 5,847 27,026 8,790 6,247 
Effect of changes in cash flow assumptions(7)— — (11)— — 
Effect of actual variances from expected experience43 (29)(13)30 (1)
Adjusted beginning of year balance27,180 8,532 5,833 27,046 8,789 6,250 
Interest accrual368 111 55 363 115 60 
Benefit payments(359)(159)(109)(309)(174)(138)
Effect of foreign currency— — (73)— — (24)
Ending balance at locked-in discount rate27,190 8,484 5,707 27,100 8,730 6,148 
Effect of changes in discount rate assumptions2,465 425 (126)3,171 619 (123)
Balance, end of period$29,654 $8,909 $5,581 $30,271 $9,349 $6,025 
Net future policy benefit reserves$25,722 $8,909 $1,054 $26,054 $9,349 $1,045 
Less: Reinsurance recoverables, net of allowance for credit losses(165)— (29)(204)— (57)
Net future policy benefit reserves, after reinsurance recoverables$25,557 $8,909 $1,025 $25,850 $9,349 $988 
The following table provides the amount of undiscounted and discounted expected future gross premiums and expected future benefits and expenses for nonparticipating traditional contracts.

March 31, 2024March 31, 2023
Undiscounted
Discounted(a)
UndiscountedDiscounted(a)
Long-term care:
Gross premiums
$7,376 $4,794 $7,924 $5,105 
Benefit payments62,774 29,654 64,944 30,271 
Structured settlement annuities:Benefit payments19,092 8,909 19,745 9,349 
Life: Gross premiums12,082 5,446 13,537 6,104 
Benefit payments10,935 5,581 11,800 6,025 
(a) Determined using the current discount rate as of March 31, 2024 and 2023, respectively.
The following table provides the weighted-average durations of and weighted-average interest rates for the liability for future policy benefits.
March 31, 2024March 31, 2023
Long-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLife
Duration (years)(a)
12.410.85.313.211.25.3
Interest accretion rate5.6%5.4%5.2%5.5%5.4%5.1%
Current discount rate5.2%5.2%5.0%5.0%5.0%4.8%
(a) Determined using the current discount rate as of March 31, 2024 and 2023.