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VARIABLE LIFE AND ANNUITY CONTRACTS (Tables)
12 Months Ended
Dec. 31, 2013
VARIABLE LIFE AND ANNUITY CONTRACTS  
Schedule of details concerning entity's GMDB exposures, by benefit type
 
 


   
   
 
   
 
  2013   2012  
 
 

Net Deposits
Plus a Minimum
Return

 


Highest Contract
Value Attained

  Net Deposits
Plus a Minimum
Return

   
 
At December 31,
  Highest Contract
Value Attained

 
(dollars in billions)
 
   

Account value

 
$
78
 
$
15
 
$ 64   $ 13  

Net amount at risk

 
 
1
 
 
1
 
  2     1  

Average attained age of contract holders by product

 
 
60 – 72 years
 
 
65 – 75 years
 
  59 – 73 years     66 – 75 years
   

Range of guaranteed minimum return rates

 
 
3 – 10%
 
 
 
 
  3 – 10%      
   
Schedule of changes in GMDB and GMIB liabilities for guarantees on variable contracts reflected in the general account

 

 

 
 


   
 
   
Years Ended December 31,
(in millions)
 

2013

  2012
 
   

Balance, beginning of year

 
$
413
 
$ 445  

Reserve increase

 
 
32
 
  43  

Benefits paid

 
 
(51
)
  (75 )
   

Balance, end of year

 
$
394
 
$ 413