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VARIABLE LIFE AND ANNUITY CONTRACTS (Tables)
12 Months Ended
Dec. 31, 2011
VARIABLE LIFE AND ANNUITY CONTRACTS  
Schedule of details concerning entity's GMDB exposures

 

 

   
At December 31,
  2011   2010  
(dollars in billions)
  Net Deposits
Plus a Minimum
Return

  Highest Contract
Value Attained

  Net Deposits
Plus a Minimum
Return

  Highest Contract
Value Attained

 
   

Account value(a)

  $ 57   $ 12   $ 55   $ 13  

Amount at risk(b)

    3     2     3     1  

Average attained age of contract holders by product

    58 - 72 years     67 - 74 years     58 - 70 years     70 - 73 years  
   

Range of guaranteed minimum return rates

    3 - 10 %         3 - 10 %      
   
(a)
Included in Policyholder contract deposits in the Consolidated Balance Sheet.

(b)
Represents the amount of death benefit currently in excess of Account value.
Schedule of changes in GMDB and GMIB liabilities for guarantees on variable contracts reflected in the general account

 

 

   
Years Ended December 31,
(in millions)
  2011
  2010
 
   

Balance, beginning of year

  $ 412   $ 469  
 

Reserve increase

    120     31  
 

Benefits paid

    (87 )   (88 )
   

Balance, end of year

  $ 445   $ 412