INSURANCE LIABILITIES (Details - Schedule of universal life policies with secondary guarantees) - Universal life products - USD ($) $ in Millions |
12 Months Ended | ||
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Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
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Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward] | |||
Balance at the beginning of the period | $ 4,751 | $ 3,787 | $ 2,893 |
Incurred guaranteed benefits | 603 | 1,041 | 514 |
Paid guaranteed benefits | (489) | (470) | (469) |
Changes in unrealized appreciation (depreciation) of investments | (360) | 393 | 849 |
Balance at the end of the period | 4,505 | 4,751 | $ 3,787 |
Net Amount at Risk [Abstract] | |||
Account value | 3,313 | 3,078 | |
Net amount at risk | $ 65,801 | $ 63,721 | |
Average attained age of contract holders by product | 53 years | 53 years |
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- Definition Liabilities For Guarantees On Long-Duration Insurance Contracts, Change In Unrealized Appreciation (Depreciation) Of Investments No definition available.
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- References No definition available.
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- Definition Value of the separate and general accounts corresponding to the specified product, guarantee type and subset of the guarantee. No definition available.
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- Definition Amount of expected guaranteed benefits in excess of the projected account balances for minimum guaranteed benefit contracts, as of the balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of guaranteed minimum benefit expense incurred for expected guaranteed minimum benefits in excess of projected account values. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash outflow to policyholders and contract holders for guaranteed minimum benefit payments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Net amount at risk, representing the guaranteed benefit in excess of the current account balance corresponding to the specified product, guarantee type and subset of the guarantee. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Weighted average attained age of policyholders or contract holders in the specified guarantee type and subset of guarantee class, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Details
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