Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value of Financial Instruments [Abstract]

Carrying And Estimated Fair Values Of Financial Instruments

	As of September 30, 2022						As of December 31, 2021
	Carrying			Fair			Carrying			Fair
	Value			Value			Value			Value
Assets
Fixed maturity AFS securities	$	97,572		$	97,572		$	118,746		$	118,746
Trading securities		3,580			3,580			4,482			4,482
Equity securities		427			427			318			318
Mortgage loans on real estate		18,066			16,426			17,991			18,700
Derivative investments (1)		3,681			3,681			5,437			5,437
Other investments		3,811			3,811			4,284			4,284
Cash and invested cash		1,472			1,472			2,612			2,612
Other assets:
GLB direct embedded derivatives		1,442			1,442			1,963			1,963
GLB ceded embedded derivatives		37			37			56			56
Reinsurance-related embedded derivatives		479			479			-			-
Indexed annuity ceded embedded derivatives		456			456			528			528
Separate account assets		137,295			137,295			182,583			182,583
Liabilities
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		(3,194	)		(3,194	)		(6,131	)		(6,131	)
Other contract holder funds:
Remaining guaranteed interest and similar contracts		(1,739	)		(1,739	)		(1,788	)		(1,788	)
Account values of certain investment contracts		(42,922	)		(35,140	)		(41,194	)		(47,862	)
Short-term debt		(500	)		(497	)		(300	)		(302	)
Long-term debt		(5,959	)		(4,953	)		(6,325	)		(6,707	)
Reinsurance-related embedded derivatives		-			-			(206	)		(206	)
Other liabilities:
Derivative liabilities (1)		(241	)		(241	)		(677	)		(677	)
GLB ceded embedded derivatives		(149	)		(149	)		(182	)		(182	)

⁽¹⁾We have master netting agreements with each of our derivative counterparties, which allow for the netting of our derivative asset and liability positions by counterparty.

Schedule of Mortgage Loans With Election Of Fair Value Option

	As of		As of
	September 30,		December 31,
	2022		2021
Fair value	$	495	$	739
Aggregate contractual principal		516		742

Fair Value Of Assets And Liabilities On A Recurring Basis

		As of September 30, 2022
		Quoted
		Prices
		in Active
	Markets for			Significant				Significant
		Identical		Observable				Unobservable				Total
		Assets			Inputs				Inputs			Fair
		(Level 1)			(Level 2)				(Level 3)			Value
Assets
Investments:
Fixed maturity AFS securities:
Corporate bonds		$	-		$	72,433			$	5,013		$	77,446
U.S. government bonds			364			20				-			384
State and municipal bonds			-			5,089				-			5,089
Foreign government bonds			-			304				34			338
RMBS			-			2,038				10			2,048
CMBS			-			1,549				-			1,549
ABS			-			9,256				1,091			10,347
Hybrid and redeemable preferred securities			44			268				59			371
Trading securities			-			2,978				602			3,580
Equity securities			13			246				168			427
Mortgage loans on real estate			-			-				495			495
Derivative investments (1)			-			6,400				636			7,036
Other investments – short-term investments			-			143				-			143
Cash and invested cash			-			1,472				-			1,472
Other assets:
GLB direct embedded derivatives			-			-				1,442			1,442
GLB ceded embedded derivatives			-			-				37			37
Reinsurance-related embedded derivatives			-			479				-			479
Indexed annuity ceded embedded derivatives			-			-				456			456
Separate account assets			420			136,875				-			137,295
Total assets		$	841		$	239,550			$	10,043		$	250,434
Liabilities
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		$	-		$	-			$	(3,194	)	$	(3,194	)
Other liabilities:
Derivative liabilities (1)			-			(2,965	)			(631	)		(3,596	)
GLB ceded embedded derivatives			-			-				(149	)		(149	)
Total liabilities		$	-		$	(2,965	)		$	(3,974	)	$	(6,939	)

‎

		As of December 31, 2021
		Quoted
		Prices
		in Active
	Markets for			Significant				Significant
		Identical		Observable				Unobservable				Total
		Assets			Inputs				Inputs			Fair
		(Level 1)			(Level 2)				(Level 3)			Value
Assets
Investments:
Fixed maturity AFS securities:
Corporate bonds		$	-		$	92,400			$	5,720		$	98,120
U.S. government bonds			428			5				-			433
State and municipal bonds			-			6,621				-			6,621
Foreign government bonds			-			391				41			432
RMBS			-			2,521				4			2,525
CMBS			-			1,599				-			1,599
ABS			-			7,642				870			8,512
Hybrid and redeemable preferred securities			54			357				93			504
Trading securities			32			3,622				828			4,482
Equity securities			7			216				95			318
Mortgage loans on real estate			-			-				739			739
Derivative investments (1)			-			7,597				149			7,746
Other investments – short-term investments			-			154				-			154
Cash and invested cash			-			2,612				-			2,612
Other assets:
GLB direct embedded derivatives			-			-				1,963			1,963
GLB ceded embedded derivatives			-			-				56			56
Indexed annuity ceded embedded derivatives			-			-				528			528
Separate account assets			646			181,929				-			182,575
Total assets		$	1,167		$	307,666			$	11,086		$	319,919
Liabilities
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		$	-		$	-			$	(6,131	)	$	(6,131	)
Reinsurance-related embedded derivatives			-			(206	)			-			(206	)
Other liabilities:
Derivative liabilities (1)			-			(2,858	)			(128	)		(2,986	)
GLB ceded embedded derivatives			-			-				(182	)		(182	)
Total liabilities		$	-		$	(3,064	)		$	(6,441	)	$	(9,505	)

⁽¹⁾Derivative investment assets and liabilities are presented within the fair value hierarchy on a gross basis by derivative type and not on a master netting basis by counterparty.

‎

Fair Value Measured On A Recurring Basis Reconciliation

	For the Three Months Ended September 30, 2022
							Gains		Issuances,				Transfers
				Items			(Losses)			Sales,			Into or
				Included			in		Maturities,				Out
	Beginning			in			OCI		Settlements,				of			Ending
	Fair			Net			and			Calls,			Level 3,			Fair
	Value			Income			Other (1)			Net			Net			Value
Investments: (2)
Fixed maturity AFS securities:
Corporate bonds	$	5,476		$	1		$	(513	)	$	65		$	(16	)	$	5,013
Foreign government bonds		37			-			(3	)		-			-			34
RMBS		1			-			-			9			-			10
CMBS		-			-			-			-			-			-
ABS		1,153			-			(38	)		123			(147	)		1,091
Hybrid and redeemable preferred
securities		104			(2	)		(37	)		(6	)		-			59
Trading securities		620			(24	)		-			3			3			602
Equity securities		145			24			-			(1	)		-			168
Mortgage loans on real estate		528			(1	)		(4	)		(28	)		-			495
Derivative investments		3			3			-			-			(1	)		5
Other assets: (3)
GLB direct embedded derivatives		1,400			42			-			-			-			1,442
GLB ceded embedded derivatives		41			(4	)		-			-			-			37
Indexed annuity ceded embedded derivatives		440			(47	)		-			63			-			456
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives (3)		(3,366	)		394			-			(222	)		-			(3,194	)
Other liabilities – GLB ceded embedded
derivatives (3)		(136	)		(13	)		-			-			-			(149	)
Total, net	$	6,446		$	373		$	(595	)	$	6		$	(161	)	$	6,069

‎

	For the Three Months Ended September 30, 2021
							Gains		Issuances,				Transfers
				Items			(Losses)			Sales,			Into or
				Included			in		Maturities,				Out
	Beginning			in			OCI		Settlements,				of			Ending
	Fair			Net			and			Calls,			Level 3,			Fair
	Value			Income			Other (1)			Net			Net			Value
Investments: (2)
Fixed maturity AFS securities:
Corporate bonds	$	5,429		$	1		$	(88	)	$	55		$	(25	)	$	5,372
Foreign government bonds		43			-			(3	)		66			-			106
RMBS		1			-			-			-			-			1
CMBS		9			-			-			-			(8	)		1
ABS		630			-			(2	)		144			(38	)		734
Hybrid and redeemable preferred
securities		102			-			6			(27	)		-			81
Trading securities		630			3			-			(33	)		-			600
Equity securities		82			5			-			-			-			87
Mortgage loans on real estate		818			4			3			(33	)		-			792
Derivative investments		1			-			-			-			-			1
Other assets: (3)
GLB direct embedded derivatives		1,767			(69	)		-			-			-			1,698
GLB ceded embedded derivatives		53			2			-			-			-			55
Indexed annuity ceded embedded derivatives		-			(14	)		-			(6	)		515			495
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives (3)		-			47			-			86			(4,937	)		(4,804	)
Other liabilities – GLB ceded embedded
derivatives (3)		(152	)		6			-			-			-			(146	)
Total, net	$	9,413		$	(15	)	$	(84	)	$	252		$	(4,493	)	$	5,073

‎

	For the Nine Months Ended September 30, 2022
							Gains		Issuances,				Transfers
				Items			(Losses)		Sales,				Into or
				Included			in		Maturities,				Out
	Beginning			in			OCI		Settlements,				of			Ending
	Fair			Net			and			Calls,			Level 3,			Fair
	Value			Income			Other (1)			Net			Net			Value
Investments: (2)
Fixed maturity AFS securities:
Corporate bonds	$	5,720		$	2		$	(1,523	)	$	716		$	98		$	5,013
Foreign government bonds		41			-			(7	)		-			-			34
RMBS		4			-			-			21			(15	)		10
CMBS		-			-			-			17			(17	)		-
ABS		870			-			(98	)		576			(257	)		1,091
Hybrid and redeemable preferred
securities		93			(2	)		(26	)		(6	)		-			59
Trading securities		828			(82	)		-			(143	)		(1	)		602
Equity securities		95			56			-			17			-			168
Mortgage loans on real estate		739			(16	)		(10	)		(218	)		-			495
Derivative investments		21			5			(6	)		-			(15	)		5
Other assets: (3)
GLB direct embedded derivatives		1,963			(521	)		-			-			-			1,442
GLB ceded embedded derivatives		56			(19	)		-			-			-			37
Indexed annuity ceded embedded derivatives		528			(214	)		-			142			-			456
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives (3)		(6,131	)		3,244			-			(307	)		-			(3,194	)
Other liabilities – GLB ceded embedded
derivatives (3)		(182	)		33			-			-			-			(149	)
Total, net	$	4,645		$	2,486		$	(1,670	)	$	815		$	(207	)	$	6,069

‎

	For the Nine Months Ended September 30, 2021
							Gains		Issuances,				Transfers
				Items			(Losses)		Sales,				Into or
				Included			in		Maturities,				Out
	Beginning			in			OCI		Settlements,				of			Ending
	Fair			Net			and			Calls,			Level 3,			Fair
	Value			Income			Other (1)			Net			Net			Value
Investments: (2)
Fixed maturity AFS securities:
Corporate bonds	$	5,121		$	4		$	(139	)	$	440		$	(54	)	$	5,372
U.S. government bonds		5			-			-			(5	)		-			-
Foreign government bonds		74			-			(11	)		80			(37	)		106
RMBS		2			(1	)		-			-			-			1
CMBS		-			1			-			8			(8	)		1
ABS		570			1			(5	)		426			(258	)		734
Hybrid and redeemable preferred
securities		104			-			18			(41	)		-			81
Trading securities		644			2			-			(31	)		(15	)		600
Equity securities		59			31			-			(3	)		-			87
Mortgage loans on real estate		832			11			6			(57	)		-			792
Derivative investments		1,542			1,249			-			(132	)		(2,658	)		1
Other assets: (3)
GLB direct embedded derivatives		450			1,248			-			-			-			1,698
GLB ceded embedded derivatives		82			(27	)		-			-			-			55
Indexed annuity ceded embedded derivatives		550			17			-			(60	)		(12	)		495
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives (3)		(3,594	)		(579	)		-			136			(767	)		(4,804	)
Other liabilities – GLB ceded embedded
derivatives (3)		-			(146	)		-			-			-			(146	)
Total, net	$	6,441		$	1,811		$	(131	)	$	761		$	(3,809	)	$	5,073

⁽¹⁾The changes in fair value of the interest rate swaps are offset by an adjustment to derivative investments (see Note 5).

⁽²⁾Amortization and accretion of premiums and discounts are included in net investment income on our Consolidated Statements of Comprehensive Income (Loss). Gains (losses) from sales, maturities, settlements and calls and credit loss expense are included in realized gain (loss) on our Consolidated Statements of Comprehensive Income (Loss).

⁽³⁾Gains (losses) from the changes in fair value are included in realized gain (loss) on our Consolidated Statements of Comprehensive Income (Loss).

‎

Schedule Of Investment Holdings Movements

	For the Three Months Ended September 30, 2022
	Issuances			Sales			Maturities		Settlements				Calls			Total
Investments:
Fixed maturity AFS securities:
Corporate bonds	$	173		$	(4	)	$	(50	)	$	(52	)	$	(2	)	$	65
RMBS		9			-			-			-			-			9
CMBS		-			-			-			-			-			-
ABS		213			-			-			(90	)		-			123
Hybrid and redeemable preferred
securities		-			-			-			-			(6	)		(6	)
Trading securities		11			-			-			(8	)		-			3
Equity securities		-			(1	)		-			-			-			(1	)
Mortgage loans on real estate		2			-			-			(30	)		-			(28	)
Other assets – indexed annuity ceded
embedded derivatives		37			-			-			26			-			63
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		(181	)		-			-			(41	)		-			(222	)
Total, net	$	264		$	(5	)	$	(50	)	$	(195	)	$	(8	)	$	6

	For the Three Months Ended September 30, 2021
	Issuances			Sales			Maturities		Settlements				Calls			Total
Investments:
Fixed maturity AFS securities:
Corporate bonds	$	219		$	(12	)	$	(82	)	$	(70	)	$	-		$	55
Foreign government bonds		66			-			-			-			-			66
ABS		195			-			-			(51	)		-			144
Hybrid and redeemable preferred
securities		3			-			-			-			(30	)		(27	)
Trading securities		3			(15	)		-			(21	)		-			(33	)
Mortgage loans on real estate		8			-			(22	)		(19	)		-			(33	)
Other assets – indexed annuity ceded
embedded derivatives		19			-			-			(25	)		-			(6	)
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		(47	)		-			-			133			-			86
Total, net	$	466		$	(27	)	$	(104	)	$	(53	)	$	(30	)	$	252

‎

	For the Nine Months Ended September 30, 2022
	Issuances			Sales			Maturities		Settlements				Calls			Total
Investments:
Fixed maturity AFS securities:
Corporate bonds	$	1,026		$	(4	)	$	(75	)	$	(181	)	$	(50	)	$	716
RMBS		21			-			-			-			-			21
CMBS		17			-			-			-			-			17
ABS		768			-			-			(185	)		(7	)		576
Hybrid and redeemable preferred
securities		-			-			-			-			(6	)		(6	)
Trading securities		282			(220	)		-			(205	)		-			(143	)
Equity securities		26			(9	)		-			-			-			17
Mortgage loans on real estate		14			-			-			(232	)		-			(218	)
Other assets – indexed annuity ceded
embedded derivatives		76			-			-			66			-			142
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		(410	)		-			-			103			-			(307	)
Total, net	$	1,820		$	(233	)	$	(75	)	$	(634	)	$	(63	)	$	815

	For the Nine Months Ended September 30, 2021
	Issuances			Sales			Maturities		Settlements				Calls			Total
Investments:
Fixed maturity AFS securities:
Corporate bonds	$	926		$	(29	)	$	(103	)	$	(337	)	$	(17	)	$	440
U.S. government bonds		-			-			(5	)		-			-			(5	)
Foreign government bonds		80			-			-			-			-			80
CMBS		8			-			-			-			-			8
ABS		563			-			-			(137	)		-			426
Hybrid and redeemable preferred
securities		9			(20	)		-			-			(30	)		(41	)
Trading securities		127			(23	)		-			(135	)		-			(31	)
Equity securities		6			(9	)		-			-			-			(3	)
Mortgage loans on real estate		89			(101	)		(26	)		(19	)		-			(57	)
Derivative investments		174			(124	)		(182	)		-			-			(132	)
Other assets – indexed annuity ceded
embedded derivatives		22			-			-			(82	)		-			(60	)
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		(155	)		-			-			291			-			136
Total, net	$	1,849		$	(306	)	$	(316	)	$	(419	)	$	(47	)	$	761

Changes In Unrealized Gains (Losses) Within Level 3 Financial Instruments Carried At Fair Value And Still Held

	For the Three						For the Nine
	Months Ended						Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Trading securities	$	(23	)	$	3		$	(81	)	$	3
Equity securities		23			5			57			35
Mortgage loans on real estate		(1	)		4			(16	)		12
Derivative investments		2			-			5			-
GLB embedded derivatives		237			140			76			1,854
Embedded derivatives – indexed annuity
and IUL contracts		(55	)		(36	)		4			22
Total, net (1)	$	183		$	116		$	45		$	1,926

⁽¹⁾Included in realized gain (loss) on our Consolidated Statements of Comprehensive Income (Loss).

Changes in Unrealized Gains (Losses) Included in OCI

	For the Three						For the Nine
	Months Ended						Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Fixed maturity AFS securities:
Corporate bonds	$	(519	)	$	(82	)	$	(1,532	)	$	(139	)
Foreign government bonds		(2	)		(3	)		(7	)		(11	)
ABS		(39	)		(1	)		(101	)		(5	)
Hybrid and redeemable preferred
securities		(38	)		6			(26	)		19
Mortgage loans on real estate		(4	)		3			(10	)		5
Total, net	$	(602	)	$	(77	)	$	(1,676	)	$	(131	)

Components Of The Transfers In And Out Of Level 3

	For the Three								For the Three
	Months Ended								Months Ended
	September 30, 2022								September 30, 2021
	Transfers		Transfers						Transfers			Transfers
	Into		Out of						Into			Out of
	Level 3		Level 3			Total			Level 3			Level 3			Total
Investments:
Fixed maturity AFS securities:
Corporate bonds	$	37	$	(53	)	$	(16	)	$	-		$	(25	)	$	(25	)
CMBS		-		-			-			-			(8	)		(8	)
ABS		15		(162	)		(147	)		8			(46	)		(38	)
Trading securities		4		(1	)		3			-			-			-
Derivative investments		-		(1	)		(1	)		-			-			-
Other assets – indexed annuity ceded
embedded derivatives		-		-			-			515			-			515
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		-		-			-			(4,937	)		-			(4,937	)
Total, net	$	56	$	(217	)	$	(161	)	$	(4,414	)	$	(79	)	$	(4,493	)

	For the Nine								For the Nine
	Months Ended								Months Ended
	September 30, 2022								September 30, 2021
	Transfers		Transfers						Transfers			Transfers
	Into		Out of						Into			Out of
	Level 3		Level 3			Total			Level 3			Level 3			Total
Investments:
Fixed maturity AFS securities:
Corporate bonds	$	265	$	(167	)	$	98		$	10		$	(64	)	$	(54	)
Foreign government bonds		-		-			-			-			(37	)		(37	)
RMBS		-		(15	)		(15	)		-			-			-
CMBS		-		(17	)		(17	)		-			(8	)		(8	)
ABS		16		(273	)		(257	)		8			(266	)		(258	)
Trading securities		4		(5	)		(1	)		14			(29	)		(15	)
Derivative investments		-		(15	)		(15	)		-			(2,658	)		(2,658	)
Other assets – indexed annuity ceded
embedded derivatives		-		-			-			515			(527	)		(12	)
Future contract benefits – indexed annuity
and IUL contracts embedded derivatives		-		-			-			(4,937	)		4,170			(767	)
Total, net	$	285	$	(492	)	$	(207	)	$	(4,390	)	$	581		$	(3,809	)

Fair Value Inputs Quantitative Information

											Weighted
											Average
	Fair			Valuation	Significant	Assumption or					Input
	Value			Technique	Unobservable Inputs	Input Ranges					Range (1)
Assets
Investments:
Fixed maturity AFS and
trading securities:
Corporate bonds	$	2,850		Discounted cash flow	Liquidity/duration adjustment (2)	0.9	%	-	7.3	%	2.1	%
Foreign government
bonds		34		Discounted cash flow	Liquidity/duration adjustment (2)	1.2	%	-	19.1	%	16.4	%
ABS		15		Discounted cash flow	Liquidity/duration adjustment (2)	2.4	%	-	2.4	%	2.4	%
Hybrid and redeemable
preferred securities		7		Discounted cash flow	Liquidity/duration adjustment (2)	1.4	%	-	1.5	%	1.5	%
Equity securities		19		Discounted cash flow	Liquidity/duration adjustment (2)	4.2	%	-	4.5	%	4.3	%
Other assets:
GLB direct and ceded		1,479		Discounted cash flow	Long-term lapse rate (3)	1	%	-	30	%	(10)
embedded derivatives					Utilization of guaranteed withdrawals (4)	85	%	-	100	%	94	%
					Claims utilization factor (5)	60	%	-	100	%	(10)
					Premiums utilization factor (5)	80	%	-	115	%	(10)
					NPR (6)	0.31	%	-	2.38	%	1.67	%
					Mortality rate (7)				(9)		(10)
					Volatility (8)	1	%	-	28	%	14.30	%
Indexed annuity ceded
embedded derivatives		456		Discounted cash flow	Lapse rate (3)	0	%	-	9	%	(10)
					Mortality rate (7)				(9)		(10)
Liabilities
Future contract benefits –
indexed annuity contracts
embedded derivatives	$	(3,293	)	Discounted cash flow	Lapse rate (3)	0	%	-	9	%	(10)
					Mortality rate (7)				(9)		(10)
Other liabilities –
GLB ceded embedded
derivatives		(149	)	Discounted cash flow	Long-term lapse rate (3)	1	%	-	30	%	(10)
					Utilization of guaranteed withdrawals (4)	85	%	-	100	%	94	%
					Claims utilization factor (5)	60	%	-	100	%	(10)
					Premiums utilization factor (5)	80	%	-	115	%	(10)
					NPR (6)	0.31	%	-	2.38	%	1.67	%
					Mortality rate (7)				(9)		(10)
					Volatility (8)	1	%	-	28	%	14.30	%

⁽¹⁾Unobservable inputs were weighted by the relative fair value of the instruments, unless otherwise noted.

⁽²⁾The liquidity/duration adjustment input represents an estimated market participant composite of adjustments attributable to liquidity premiums, expected durations, structures and credit quality that would be applied to the market observable information of an investment.

⁽³⁾The lapse rate input represents the estimated probability of a contract surrendering during a year, and thereby forgoing any future benefits. The range for indexed annuity contracts represents the lapse rates during the surrender charge period.

⁽⁴⁾The utilization of guaranteed withdrawals input represents the estimated percentage of contract holders that utilize the guaranteed withdrawal feature.

⁽⁵⁾The utilization factors are applied to the present value of claims or premiums, as appropriate, in the GLB reserve calculation to estimate the impact of inefficient withdrawal behavior, including taking less than or more than the maximum guaranteed withdrawal.

⁽⁶⁾The NPR input represents the estimated additional credit spread that market participants would apply to the market observable discount rate when pricing a contract. The NPR input was weighted by the absolute value of the sensitivity of the reserve to the NPR assumption.

⁽⁷⁾The mortality rate input represents the estimated probability of when an individual belonging to a particular group, categorized according to age or some other factor such as gender, will die.

⁽⁸⁾The volatility input represents overall volatilities assumed for the underlying variable annuity funds, which include a mixture of equity and fixed-income assets. Fair value of the variable annuity GLB embedded derivatives would increase if higher volatilities were used for valuation. Volatility assumptions vary by fund due to the benchmarking of different indices. The volatility input was weighted by the relative account value assigned to each index.

⁽⁹⁾The mortality rate is based on a combination of company and industry experience, adjusted for improvement factors.

⁽¹⁰⁾A weighted average input range is not a meaningful measurement for lapse rate, utilization factors or mortality rate.