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Variable Annuity and Insurance Guarantees (Tables)
 3 Months Ended
Mar. 31, 2014
Insurance [Abstract]  
Schedule of variable annuity guarantees
The following table provides information related to variable annuity guarantees for which the Company has established additional liabilities:
 
 
March 31, 2014
 
December 31, 2013
Variable Annuity Guarantees by Benefit Type (1)
 
Total Contract Value
 
Contract Value in Separate Accounts
 
Net Amount at Risk
 
Weighted Average Attained Age
 
Total Contract Value
 
Contract Value in Separate Accounts
 
Net Amount at Risk
 
Weighted Average Attained Age
 
 
(in millions, except age)
GMDB:
 
 

 
 

 
 

 
 
 
 

 
 

 
 

 
 
Return of premium
 
$
53,368

 
$
51,554

 
$
26

 
64
 
$
52,616

 
$
50,790

 
$
28

 
64
Five/six-year reset
 
10,938

 
8,392

 
36

 
64
 
11,220

 
8,663

 
42

 
64
One-year ratchet
 
7,608

 
7,203

 
36

 
66
 
7,676

 
7,261

 
38

 
65
Five-year ratchet
 
1,790

 
1,734

 
1

 
62
 
1,781

 
1,725

 
1

 
62
Other
 
1,002

 
983

 
37

 
69
 
1,015

 
996

 
36

 
69
Total — GMDB
 
$
74,706

 
$
69,866

 
$
136

 
64
 
$
74,308

 
$
69,435

 
$
145

 
64
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GGU death benefit
 
$
1,051

 
$
999

 
$
121

 
66
 
$
1,052

 
$
998

 
$
121

 
64
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GMIB
 
$
396

 
$
372

 
$
8

 
66
 
$
413

 
$
389

 
$
8

 
66
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GMWB:
 
 

 
 

 
 

 
 
 
 

 
 

 
 

 
 
GMWB
 
$
3,864

 
$
3,850

 
$
1

 
67
 
$
3,936

 
$
3,921

 
$
1

 
67
GMWB for life
 
34,821

 
34,695

 
92

 
65
 
34,069

 
33,930

 
77

 
64
Total — GMWB
 
$
38,685

 
$
38,545

 
$
93

 
65
 
$
38,005

 
$
37,851

 
$
78

 
64
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GMAB
 
$
4,201

 
$
4,190

 
$
1

 
58
 
$
4,194

 
$
4,181

 
$
2

 
58
(1) Individual variable annuity contracts may have more than one guarantee and therefore may be included in more than one benefit type. Variable annuity contracts for which the death benefit equals the account value are not shown in this table.
Schedule of net amount of risk UL secondary guarantees
The following table provides information related to insurance guarantees for which the Company has established additional liabilities:
 
March 31, 2014
 
December 31, 2013
 
Net Amount at Risk
 
Weighted Average Attained Age
 
Net Amount at Risk
 
Weighted Average Attained Age
 
(in millions, except age)
UL secondary guarantees
$
5,749

 
62
 
$
5,674

 
62
Schedule of changes in additional liabilities for variable annuity and insurance guarantees
Changes in additional liabilities (contra liabilities) for variable annuity and insurance guarantees were as follows:
 
GMDB & GGU
 
GMIB
 
GMWB (1)
 
GMAB (1)
 
UL
 
(in millions)
Balance at January 1, 2013
$
4

 
$
9

 
$
799

 
$
103

 
$
155

Incurred claims
1

 
—

 
(480
)
 
(80
)
 
17

Paid claims
(1
)
 
—

 
—

 
—

 
(3
)
Balance at March 31, 2013
$
4

 
$
9

 
$
319

 
$
23

 
$
169

 
 
 
 
 
 
 
 
 
 
Balance at January 1, 2014
$
4

 
$
6

 
$
(383
)
 
$
(62
)
 
$
206

Incurred claims
1

 
—

 
116

 
(7
)
 
11

Paid claims
(1
)
 
—

 
—

 
—

 
4

Balance at March 31, 2014
$
4

 
$
6

 
$
(267
)
 
$
(69
)
 
$
221


(1) The incurred claims for GMWB and GMAB represent the total change in the liabilities (contra liabilities).
Schedule of separate account balances by asset type
The following table summarizes the distribution of separate account balances by asset type for variable annuity contracts providing guaranteed benefits:
 
March 31, 2014
 
December 31, 2013
 
(in millions)
Mutual funds:
 

 
 

Equity
$
39,742

 
$
39,195

Bond
25,965

 
26,519

Other
4,168

 
3,764

Total mutual funds
$
69,875

 
$
69,478