XML 69 R52.htm IDEA: XBRL DOCUMENT v3.24.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Liability For Future Policy Benefit, Expected Future Policy Benefits, Activity (Detail) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jan. 01, 2021
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance $ 141,463      
Ending balance 132,131 $ 141,463    
Liability amounts 83,718 88,241    
Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Liability amounts     $ 115,964  
Cancer | Aflac Japan        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance 54,766 72,747    
Beginning balance at original discount rate 47,677 56,807    
Effect of changes in cash flow assumptions   (147) (721)  
Effect of actual variances from expected experience   (385) (333)  
Adjusted beginning of period balance   47,145 55,753  
Issuances 1,059 960    
Interest accrual 1,473 1,599    
Benefit payments (2,987) (3,050)    
Foreign currency translation (3,064) (7,585)    
Other 0 0    
Ending balance at original discount rate 43,626 47,677 56,807  
Effect of changes in discount rate assumptions 6,535 7,089    
Ending balance 50,161 54,766 72,747  
Liability amounts 32,652 35,468    
Less: reinsurance recoverable 4,135 0    
Net liability for future policy benefits after reinsurance recoverable 28,517 35,468    
Cancer | Aflac Japan | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   72,747    
Beginning balance at original discount rate   56,807    
Effect of changes in cash flow assumptions       $ 24
Effect of actual variances from expected experience       (149)
Adjusted beginning of period balance       63,931
Issuances     1,133  
Interest accrual     2,014  
Benefit payments     (3,894)  
Foreign currency translation     (6,377)  
Other     0  
Ending balance at original discount rate     56,807  
Effect of changes in discount rate assumptions     15,940  
Ending balance     72,747  
Liability amounts     46,854  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     46,854  
Medical and other health | Aflac Japan        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance 27,419 36,021    
Beginning balance at original discount rate 27,566 31,398    
Effect of changes in cash flow assumptions   (507) 352  
Effect of actual variances from expected experience   (154) 83  
Adjusted beginning of period balance   26,905 31,833  
Issuances 432 646    
Interest accrual 608 642    
Benefit payments (1,153) (1,375)    
Foreign currency translation (1,769) (4,180)    
Other 0 0    
Ending balance at original discount rate 25,023 27,566 31,398  
Effect of changes in discount rate assumptions 234 (147)    
Ending balance 25,257 27,419 36,021  
Liability amounts 10,560 10,705    
Less: reinsurance recoverable 1,521 1,579    
Net liability for future policy benefits after reinsurance recoverable 9,039 9,126    
Medical and other health | Aflac Japan | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   36,021    
Beginning balance at original discount rate   31,398    
Effect of changes in cash flow assumptions       85
Effect of actual variances from expected experience       (458)
Adjusted beginning of period balance       34,265
Issuances     1,155  
Interest accrual     769  
Benefit payments     (1,313)  
Foreign currency translation     (3,478)  
Other     0  
Ending balance at original discount rate     31,398  
Effect of changes in discount rate assumptions     4,623  
Ending balance     36,021  
Liability amounts     14,847  
Less: reinsurance recoverable     2,150  
Net liability for future policy benefits after reinsurance recoverable     12,697  
Life insurance | Aflac Japan        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance 31,954 42,720    
Beginning balance at original discount rate 32,800 39,002    
Effect of changes in cash flow assumptions   65 (550)  
Effect of actual variances from expected experience   (51) (91)  
Adjusted beginning of period balance   32,814 38,361  
Issuances 341 222    
Interest accrual 625 670    
Benefit payments (1,415) (1,248)    
Foreign currency translation (2,109) (5,205)    
Other 0 0    
Ending balance at original discount rate 30,256 32,800 39,002  
Effect of changes in discount rate assumptions (525) (846)    
Ending balance 29,731 31,954 42,720  
Liability amounts 23,243 24,469    
Less: reinsurance recoverable 0 0    
Net liability for future policy benefits after reinsurance recoverable 23,243 24,469    
Life insurance | Aflac Japan | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   42,720    
Beginning balance at original discount rate   39,002    
Effect of changes in cash flow assumptions       31
Effect of actual variances from expected experience       (139)
Adjusted beginning of period balance       43,621
Issuances     287  
Interest accrual     833  
Benefit payments     (1,373)  
Foreign currency translation     (4,366)  
Other     0  
Ending balance at original discount rate     39,002  
Effect of changes in discount rate assumptions     3,718  
Ending balance     42,720  
Liability amounts     31,873  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     31,873  
Life insurance | Aflac U.S.        
Liability for Future Policy Benefit, Activity [Line Items]        
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   (32) (21)  
Adjusted beginning of period balance   1,818 1,672  
Issuances 185 149    
Interest accrual 68 62    
Benefit payments (105) (103)    
Foreign currency translation 0 0    
Other 5 (2)    
Ending balance at original discount rate 1,971 1,778 1,694  
Effect of changes in discount rate assumptions (207) (252)    
Ending balance 1,764 1,526 1,843  
Liability amounts 911 802    
Less: reinsurance recoverable 15 9    
Net liability for future policy benefits after reinsurance recoverable 896 793    
Life insurance | Aflac U.S. | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   1,843    
Beginning balance at original discount rate   1,694    
Effect of changes in cash flow assumptions       31
Effect of actual variances from expected experience       34
Adjusted beginning of period balance       1,627
Issuances     115  
Interest accrual     58  
Benefit payments     (107)  
Foreign currency translation     0  
Other     1  
Ending balance at original discount rate     1,694  
Effect of changes in discount rate assumptions     149  
Ending balance     1,843  
Liability amounts     1,009  
Less: reinsurance recoverable     10  
Net liability for future policy benefits after reinsurance recoverable     999  
Other | Aflac Japan        
Liability for Future Policy Benefit, Activity [Line Items]        
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   (15) (10)  
Adjusted beginning of period balance   5,898 6,873  
Issuances 32 68    
Interest accrual 100 106    
Benefit payments (206) (202)    
Foreign currency translation (380) (905)    
Other 0 0    
Ending balance at original discount rate 5,444 5,940 6,787  
Effect of changes in discount rate assumptions (266) (358)    
Ending balance 5,178 5,582 7,322  
Liability amounts 4,090 4,326    
Less: reinsurance recoverable 0 0    
Net liability for future policy benefits after reinsurance recoverable 4,090 4,326    
Other | Aflac Japan | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   7,322    
Beginning balance at original discount rate   6,787    
Effect of changes in cash flow assumptions       (11)
Effect of actual variances from expected experience       (15)
Adjusted beginning of period balance       7,594
Issuances     62  
Interest accrual     129  
Benefit payments     (238)  
Foreign currency translation     (760)  
Other     0  
Ending balance at original discount rate     6,787  
Effect of changes in discount rate assumptions     535  
Ending balance     7,322  
Liability amounts     5,736  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     5,736  
Other | Aflac U.S.        
Liability for Future Policy Benefit, Activity [Line Items]        
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   (4) 7  
Adjusted beginning of period balance   607 637  
Issuances 169 0    
Interest accrual 33 32    
Benefit payments (48) (45)    
Foreign currency translation 0 0    
Other 8 0    
Ending balance at original discount rate 769 624 645  
Effect of changes in discount rate assumptions 29 (2)    
Ending balance 798 622 837  
Liability amounts 521 512    
Less: reinsurance recoverable 0 0    
Net liability for future policy benefits after reinsurance recoverable 521 512    
Other | Aflac U.S. | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   837    
Beginning balance at original discount rate   645    
Effect of changes in cash flow assumptions       0
Effect of actual variances from expected experience       (3)
Adjusted beginning of period balance       658
Issuances     0  
Interest accrual     33  
Benefit payments     (46)  
Foreign currency translation     0  
Other     0  
Ending balance at original discount rate     645  
Effect of changes in discount rate assumptions     192  
Ending balance     837  
Liability amounts     684  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     684  
Accident | Aflac U.S.        
Liability for Future Policy Benefit, Activity [Line Items]        
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   (75) (177)  
Adjusted beginning of period balance   3,305 3,347  
Issuances 331 364    
Interest accrual 127 128    
Benefit payments (464) (456)    
Foreign currency translation 0 0    
Other 3 8    
Ending balance at original discount rate 3,302 3,391 3,594  
Effect of changes in discount rate assumptions (193) (293)    
Ending balance 3,109 3,098 3,949  
Liability amounts 621 564    
Less: reinsurance recoverable 0 0    
Net liability for future policy benefits after reinsurance recoverable 621 564    
Accident | Aflac U.S. | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   3,949    
Beginning balance at original discount rate   3,594    
Effect of changes in cash flow assumptions       (178)
Effect of actual variances from expected experience       (115)
Adjusted beginning of period balance       3,525
Issuances     372  
Interest accrual     137  
Benefit payments     (439)  
Foreign currency translation     0  
Other     (1)  
Ending balance at original discount rate     3,594  
Effect of changes in discount rate assumptions     355  
Ending balance     3,949  
Liability amounts     666  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     666  
Disability | Aflac U.S.        
Liability for Future Policy Benefit, Activity [Line Items]        
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   (59) (48)  
Adjusted beginning of period balance   2,518 2,627  
Issuances 392 397    
Interest accrual 96 94    
Benefit payments (465) (483)    
Foreign currency translation 0 0    
Other 0 1    
Ending balance at original discount rate 2,541 2,636 2,670  
Effect of changes in discount rate assumptions (119) (191)    
Ending balance 2,422 2,445 2,871  
Liability amounts 770 810    
Less: reinsurance recoverable 0 0    
Net liability for future policy benefits after reinsurance recoverable 770 810    
Disability | Aflac U.S. | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   2,871    
Beginning balance at original discount rate   2,670    
Effect of changes in cash flow assumptions       (143)
Effect of actual variances from expected experience       (41)
Adjusted beginning of period balance       2,735
Issuances     355  
Interest accrual     100  
Benefit payments     (520)  
Foreign currency translation     0  
Other     0  
Ending balance at original discount rate     2,670  
Effect of changes in discount rate assumptions     201  
Ending balance     2,871  
Liability amounts     1,009  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     1,009  
Critical care | Aflac U.S.        
Liability for Future Policy Benefit, Activity [Line Items]        
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   (271) (465)  
Adjusted beginning of period balance   11,983 12,571  
Issuances 505 550    
Interest accrual 524 539    
Benefit payments (893) (823)    
Foreign currency translation 0 0    
Other 1 9    
Ending balance at original discount rate 12,120 12,846 13,079  
Effect of changes in discount rate assumptions (830) (1,357)    
Ending balance 11,290 11,489 15,388  
Liability amounts 7,216 7,003    
Less: reinsurance recoverable 0 0    
Net liability for future policy benefits after reinsurance recoverable 7,216 7,003    
Critical care | Aflac U.S. | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   15,388    
Beginning balance at original discount rate   13,079    
Effect of changes in cash flow assumptions       (326)
Effect of actual variances from expected experience       (304)
Adjusted beginning of period balance       12,797
Issuances     563  
Interest accrual     553  
Benefit payments     (834)  
Foreign currency translation     0  
Other     0  
Ending balance at original discount rate     13,079  
Effect of changes in discount rate assumptions     2,309  
Ending balance     15,388  
Liability amounts     9,365  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     9,365  
Hospital indemnity | Aflac U.S.        
Liability for Future Policy Benefit, Activity [Line Items]        
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   (99) (130)  
Adjusted beginning of period balance   2,007 2,210  
Issuances 258 282    
Interest accrual 84 85    
Benefit payments (274) (277)    
Foreign currency translation 0 0    
Other 1 0    
Ending balance at original discount rate 2,076 2,300 2,300  
Effect of changes in discount rate assumptions (133) (226)    
Ending balance 1,943 2,074 2,552  
Liability amounts 836 854    
Less: reinsurance recoverable 0 0    
Net liability for future policy benefits after reinsurance recoverable 836 854    
Hospital indemnity | Aflac U.S. | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   2,552    
Beginning balance at original discount rate   2,300    
Effect of changes in cash flow assumptions       (3)
Effect of actual variances from expected experience       (36)
Adjusted beginning of period balance       2,219
Issuances     271  
Interest accrual     85  
Benefit payments     (275)  
Foreign currency translation     0  
Other     0  
Ending balance at original discount rate     2,300  
Effect of changes in discount rate assumptions     252  
Ending balance     2,552  
Liability amounts     1,085  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     1,085  
Dental/vision | Aflac U.S.        
Liability for Future Policy Benefit, Activity [Line Items]        
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   (22) (23)  
Adjusted beginning of period balance   496 539  
Issuances 46 34    
Interest accrual 21 21    
Benefit payments (59) (62)    
Foreign currency translation 0 0    
Other 2 0    
Ending balance at original discount rate 506 532 549  
Effect of changes in discount rate assumptions (28) (44)    
Ending balance 478 488 616  
Liability amounts 272 277    
Less: reinsurance recoverable 0 0    
Net liability for future policy benefits after reinsurance recoverable $ 272 277    
Dental/vision | Aflac U.S. | Accounting Standards Update 2018-12        
Liability for Future Policy Benefit, Activity [Line Items]        
Beginning balance   616    
Beginning balance at original discount rate   $ 549    
Effect of changes in cash flow assumptions       (29)
Effect of actual variances from expected experience       (15)
Adjusted beginning of period balance       $ 555
Issuances     40  
Interest accrual     23  
Benefit payments     (69)  
Foreign currency translation     0  
Other     0  
Ending balance at original discount rate     549  
Effect of changes in discount rate assumptions     67  
Ending balance     616  
Liability amounts     352  
Less: reinsurance recoverable     0  
Net liability for future policy benefits after reinsurance recoverable     $ 352