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POLICY LIABILITIES - Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits (Details) - USD ($)
$ in Millions
9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Dec. 31, 2021
Present value of expected future policy benefits:      
Beginning balance $ 141,463    
Ending balance 123,918 $ 141,463  
Net liability for future policy benefits 78,448 88,241  
Aflac Japan | Cancer      
Present value of expected premiums:      
Beginning balance 19,298 25,893  
Beginning balance at original discount rate 18,221 22,470  
Effect of changes in cash flow assumptions   (166) $ (639)
Effect of actual variances from expected experience   (261) (284)
Adjusted beginning of period balance   17,794 21,547
Issuances 770 947  
Interest accrual 312 459  
Net premiums collected [1] (1,182) (1,734)  
Foreign currency translation (2,023) (2,997)  
Other (1) (1)  
Ending balance at original discount rate 15,670 18,221 22,470
Effect of changes in discount rate assumptions 823 1,077  
Ending balance 16,493 19,298 25,893
Present value of expected future policy benefits:      
Beginning balance 54,766 72,747  
Beginning balance at original discount rate 47,677 56,807  
Effect of changes in cash flow assumptions   (148) (721)
Effect of actual variances from expected experience   (314) (333)
Adjusted beginning of period balance   47,215 55,753
Issuances 787 960  
Interest accrual 1,116 1,599  
Benefit payments (2,245) (3,050)  
Foreign currency translation (5,327) (7,585)  
Other 0 0  
Ending balance at original discount rate 41,546 47,677 56,807
Effect of changes in discount rate assumptions 5,663 7,089  
Ending balance 47,209 54,766 72,747
Net liability for future policy benefits 30,716 35,468  
Less: reinsurance recoverable 1,952 0  
Net liability for future policy benefits after reinsurance recoverable 28,764 35,468  
Aflac Japan | Medical and other health      
Present value of expected premiums:      
Beginning balance 16,714 21,174  
Beginning balance at original discount rate 16,195 18,681  
Effect of changes in cash flow assumptions   (473) 317
Effect of actual variances from expected experience   (90) 61
Adjusted beginning of period balance   15,632 19,059
Issuances 285 639  
Interest accrual 255 364  
Net premiums collected [1] (959) (1,376)  
Foreign currency translation (1,767) (2,488)  
Other (1) (3)  
Ending balance at original discount rate 13,445 16,195 18,681
Effect of changes in discount rate assumptions 449 519  
Ending balance 13,894 16,714 21,174
Present value of expected future policy benefits:      
Beginning balance 27,419 36,021  
Beginning balance at original discount rate 27,566 31,398  
Effect of changes in cash flow assumptions   (510) 352
Effect of actual variances from expected experience   (102) 83
Adjusted beginning of period balance   26,954 31,833
Issuances 295 646  
Interest accrual 461 642  
Benefit payments (883) (1,375)  
Foreign currency translation (3,064) (4,180)  
Other 0 0  
Ending balance at original discount rate 23,763 27,566 31,398
Effect of changes in discount rate assumptions (170) (147)  
Ending balance 23,593 27,419 36,021
Net liability for future policy benefits 9,699 10,705  
Less: reinsurance recoverable 1,422 1,579  
Net liability for future policy benefits after reinsurance recoverable 8,277 9,126  
Aflac Japan | Life insurance      
Present value of expected premiums:      
Beginning balance 7,485 10,847  
Beginning balance at original discount rate 7,284 10,064  
Effect of changes in cash flow assumptions   44 (494)
Effect of actual variances from expected experience   (34) (81)
Adjusted beginning of period balance   7,294 9,489
Issuances 267 221  
Interest accrual 94 146  
Net premiums collected [1] (778) (1,229)  
Foreign currency translation (798) (1,343)  
Other 0 0  
Ending balance at original discount rate 6,079 7,284 10,064
Effect of changes in discount rate assumptions 171 201  
Ending balance 6,250 7,485 10,847
Present value of expected future policy benefits:      
Beginning balance 31,954 42,720  
Beginning balance at original discount rate 32,800 39,002  
Effect of changes in cash flow assumptions   66 (550)
Effect of actual variances from expected experience   (43) (91)
Adjusted beginning of period balance   32,823 38,361
Issuances 272 222  
Interest accrual 472 670  
Benefit payments (1,090) (1,248)  
Foreign currency translation (3,681) (5,205)  
Other 0 0  
Ending balance at original discount rate 28,796 32,800 39,002
Effect of changes in discount rate assumptions (868) (846)  
Ending balance 27,928 31,954 42,720
Net liability for future policy benefits 21,678 24,469  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 21,678 24,469  
Aflac Japan | Other      
Present value of expected premiums:      
Beginning balance 1,256 1,586  
Beginning balance at original discount rate 1,242 1,461  
Effect of changes in cash flow assumptions   (12) 25
Effect of actual variances from expected experience   (9) (10)
Adjusted beginning of period balance   1,221 1,476
Issuances 19 62  
Interest accrual 15 22  
Net premiums collected [1] (85) (123)  
Foreign currency translation (137) (195)  
Other 0 0  
Ending balance at original discount rate 1,033 1,242 1,461
Effect of changes in discount rate assumptions 9 14  
Ending balance 1,042 1,256 1,586
Present value of expected future policy benefits:      
Beginning balance 5,582 7,322  
Beginning balance at original discount rate 5,940 6,787  
Effect of changes in cash flow assumptions   (27) 96
Effect of actual variances from expected experience   (7) (10)
Adjusted beginning of period balance   5,906 6,873
Issuances 24 68  
Interest accrual 76 106  
Benefit payments (154) (202)  
Foreign currency translation (664) (905)  
Other 0 0  
Ending balance at original discount rate 5,188 5,940 6,787
Effect of changes in discount rate assumptions (332) (358)  
Ending balance 4,856 5,582 7,322
Net liability for future policy benefits 3,814 4,326  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 3,814 4,326  
Aflac U.S. | Life insurance      
Present value of expected premiums:      
Beginning balance 724 834  
Beginning balance at original discount rate 799 780  
Effect of changes in cash flow assumptions   61 (1)
Effect of actual variances from expected experience   (9) (16)
Adjusted beginning of period balance   851 763
Issuances 137 146  
Interest accrual 23 27  
Net premiums collected [1] (101) (131)  
Foreign currency translation 0 0  
Other 1 (6)  
Ending balance at original discount rate 911 799 780
Effect of changes in discount rate assumptions (105) (75)  
Ending balance 806 724 834
Present value of expected future policy benefits:      
Beginning balance 1,526 1,843  
Beginning balance at original discount rate 1,778 1,694  
Effect of changes in cash flow assumptions   72 (1)
Effect of actual variances from expected experience   (12) (21)
Adjusted beginning of period balance   1,838 1,672
Issuances 140 149  
Interest accrual 50 62  
Benefit payments (81) (103)  
Foreign currency translation 0 0  
Other 5 (2)  
Ending balance at original discount rate 1,952 1,778 1,694
Effect of changes in discount rate assumptions (344) (252)  
Ending balance 1,608 1,526 1,843
Net liability for future policy benefits 802 802  
Less: reinsurance recoverable 11 9  
Net liability for future policy benefits after reinsurance recoverable 791 793  
Aflac U.S. | Accident      
Present value of expected premiums:      
Beginning balance 2,534 3,283  
Beginning balance at original discount rate 2,760 2,999  
Effect of changes in cash flow assumptions   (16) (52)
Effect of actual variances from expected experience   (44) (152)
Adjusted beginning of period balance   2,700 2,795
Issuances 256 355  
Interest accrual 77 105  
Net premiums collected [1] (356) (496)  
Foreign currency translation 0 0  
Other (5) 1  
Ending balance at original discount rate 2,672 2,760 2,999
Effect of changes in discount rate assumptions (283) (226)  
Ending balance 2,389 2,534 3,283
Present value of expected future policy benefits:      
Beginning balance 3,098 3,949  
Beginning balance at original discount rate 3,391 3,594  
Effect of changes in cash flow assumptions   (11) (70)
Effect of actual variances from expected experience   (61) (177)
Adjusted beginning of period balance   3,319 3,347
Issuances 265 364  
Interest accrual 95 128  
Benefit payments (340) (456)  
Foreign currency translation 0 0  
Other 0 8  
Ending balance at original discount rate 3,339 3,391 3,594
Effect of changes in discount rate assumptions (375) (293)  
Ending balance 2,964 3,098 3,949
Net liability for future policy benefits 575 564  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 575 564  
Aflac U.S. | Disability      
Present value of expected premiums:      
Beginning balance 1,635 1,862  
Beginning balance at original discount rate 1,775 1,760  
Effect of changes in cash flow assumptions   (51) 5
Effect of actual variances from expected experience   (6) (43)
Adjusted beginning of period balance   1,718 1,722
Issuances 293 384  
Interest accrual 46 57  
Net premiums collected [1] (292) (382)  
Foreign currency translation 0 0  
Other (6) (6)  
Ending balance at original discount rate 1,759 1,775 1,760
Effect of changes in discount rate assumptions (162) (140)  
Ending balance 1,597 1,635 1,862
Present value of expected future policy benefits:      
Beginning balance 2,445 2,871  
Beginning balance at original discount rate 2,636 2,670  
Effect of changes in cash flow assumptions   (59) 5
Effect of actual variances from expected experience   (21) (48)
Adjusted beginning of period balance   2,556 2,627
Issuances 305 397  
Interest accrual 72 94  
Benefit payments (349) (483)  
Foreign currency translation 0 0  
Other 0 1  
Ending balance at original discount rate 2,584 2,636 2,670
Effect of changes in discount rate assumptions (233) (191)  
Ending balance 2,351 2,445 2,871
Net liability for future policy benefits 754 810  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 754 810  
Aflac U.S. | Critical Care      
Present value of expected premiums:      
Beginning balance 4,486 6,023  
Beginning balance at original discount rate 5,050 5,391  
Effect of changes in cash flow assumptions   (494) (38)
Effect of actual variances from expected experience   (154) (421)
Adjusted beginning of period balance   4,402 4,932
Issuances 397 537  
Interest accrual 137 193  
Net premiums collected [1] (440) (612)  
Foreign currency translation 0 0  
Other (5) 0  
Ending balance at original discount rate 4,491 5,050 5,391
Effect of changes in discount rate assumptions (630) (564)  
Ending balance 3,861 4,486 6,023
Present value of expected future policy benefits:      
Beginning balance 11,489 15,388  
Beginning balance at original discount rate 12,846 13,079  
Effect of changes in cash flow assumptions   (592) (43)
Effect of actual variances from expected experience   (188) (465)
Adjusted beginning of period balance   12,066 12,571
Issuances 408 550  
Interest accrual 396 539  
Benefit payments (668) (823)  
Foreign currency translation 0 0  
Other 1 9  
Ending balance at original discount rate 12,203 12,846 13,079
Effect of changes in discount rate assumptions (1,743) (1,357)  
Ending balance 10,460 11,489 15,388
Net liability for future policy benefits 6,599 7,003  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 6,599 7,003  
Aflac U.S. | Hospital Indemnity      
Present value of expected premiums:      
Beginning balance 1,220 1,467  
Beginning balance at original discount rate 1,365 1,380  
Effect of changes in cash flow assumptions   (142) 42
Effect of actual variances from expected experience   (48) (111)
Adjusted beginning of period balance   1,175 1,311
Issuances 203 273  
Interest accrual 34 45  
Net premiums collected [1] (187) (261)  
Foreign currency translation 0 0  
Other (3) (3)  
Ending balance at original discount rate 1,222 1,365 1,380
Effect of changes in discount rate assumptions (150) (145)  
Ending balance 1,072 1,220 1,467
Present value of expected future policy benefits:      
Beginning balance 2,074 2,552  
Beginning balance at original discount rate 2,300 2,300  
Effect of changes in cash flow assumptions   (194) 40
Effect of actual variances from expected experience   (68) (130)
Adjusted beginning of period balance   2,038 2,210
Issuances 211 282  
Interest accrual 64 85  
Benefit payments (207) (277)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 2,106 2,300 2,300
Effect of changes in discount rate assumptions (259) (226)  
Ending balance 1,847 2,074 2,552
Net liability for future policy benefits 775 854  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 775 854  
Aflac U.S. | Dental/Vision      
Present value of expected premiums:      
Beginning balance 211 264  
Beginning balance at original discount rate 231 241  
Effect of changes in cash flow assumptions   (9) 10
Effect of actual variances from expected experience   (13) (20)
Adjusted beginning of period balance   209 231
Issuances 31 33  
Interest accrual 6 9  
Net premiums collected [1] (30) (42)  
Foreign currency translation 0 0  
Other 1 0  
Ending balance at original discount rate 217 231 241
Effect of changes in discount rate assumptions (23) (20)  
Ending balance 194 211 264
Present value of expected future policy benefits:      
Beginning balance 488 616  
Beginning balance at original discount rate 532 549  
Effect of changes in cash flow assumptions   (14) 13
Effect of actual variances from expected experience   (17) (23)
Adjusted beginning of period balance   501 539
Issuances 33 34  
Interest accrual 15 21  
Benefit payments (44) (62)  
Foreign currency translation 0 0  
Other 3 0  
Ending balance at original discount rate 508 532 549
Effect of changes in discount rate assumptions (58) (44)  
Ending balance 450 488 616
Net liability for future policy benefits 256 277  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 256 277  
Aflac U.S. | Other      
Present value of expected premiums:      
Beginning balance 110 153  
Beginning balance at original discount rate 118 135  
Effect of changes in cash flow assumptions   (9) (12)
Effect of actual variances from expected experience   2 6
Adjusted beginning of period balance   111 129
Issuances 76 0  
Interest accrual 4 5  
Net premiums collected [1] (12) (17)  
Foreign currency translation 0 0  
Other 8 1  
Ending balance at original discount rate 187 118 135
Effect of changes in discount rate assumptions (15) (8)  
Ending balance 172 110 153
Present value of expected future policy benefits:      
Beginning balance 622 837  
Beginning balance at original discount rate 624 645  
Effect of changes in cash flow assumptions   (13) (15)
Effect of actual variances from expected experience   2 7
Adjusted beginning of period balance   613 637
Issuances 76 0  
Interest accrual 24 32  
Benefit payments (35) (45)  
Foreign currency translation 0 0  
Other 9 0  
Ending balance at original discount rate 687 624 645
Effect of changes in discount rate assumptions (35) (2)  
Ending balance 652 622 $ 837
Net liability for future policy benefits 480 512  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable $ 480 $ 512  
[1] Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.