POLICY LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2021

Liability for Future Policy Benefits by Product Segment

The liability for future policy benefits as of December 31 consisted of the following:


	Liability Amounts				Interest Rate Assumptions
(In millions)	2021		2020
Health insurance
Japan	$	49,421	$	54,659	0.6 - 6.75	%
U.S.	8,949		8,834		3.0 - 8.0
Intercompany eliminations (1)	(456)		(545)		2.0
Life insurance
Japan	31,756		33,993		0.6 - 4.5
U.S.	918		842		2.5 - 6.0
Total	$	90,588	$	97,783

(1) Elimination entry necessary due to recapture of a portion of policy liabilities ceded externally, as a result of the reinsurance retrocession transaction as described in Note 8 of the Notes to the Consolidated Financial Statements

Schedule of Liability for Unpaid Claims Adjustment Expense

Changes in the liability for unpaid policy claims were as follows for the years ended December 31:


(In millions)	2021			2020			2019
Unpaid supplemental health claims, beginning of period		$	4,389		$	3,968		$	3,952
Less reinsurance recoverables		39			30			27
Net balance, beginning of period		4,350			3,938			3,925
Add claims incurred during the period related to:
Current year		6,969			7,179			7,216
Prior years		(860)			(540)			(552)
Total incurred		6,109			6,639			6,664
Less claims paid during the period on claims incurred during:
Current year		4,356			4,488			4,715
Prior years		1,827			1,966			1,965
Total paid		6,183			6,454			6,680
Effect of foreign exchange rate changes on unpaid claims		(246)			128			29
Zurich acquisition		0			99			0
Net balance, end of period		4,030			4,350			3,938
Add reinsurance recoverables		37			39			30
Unpaid supplemental health claims, end of period		4,067			4,389			3,968
Unpaid life claims, end of period		769			798			691
Total liability for unpaid policy claims		$	4,836		$	5,187		$	4,659