Policyholder Account Balances, Future Policy Benefits and Claims and Separate Account Liabilities

3 Months Ended

Mar. 31, 2020

Policyholder account balances, future policy benefits and claims consisted of the following:



	March 31, 2020		December 31, 2019
	(in millions)
Policyholder account balances
Fixed annuities ⁽¹⁾	$	8,774	$	8,909
Variable annuity fixed sub-accounts	5,126		5,103
UL/VUL insurance	3,125		3,110
Indexed universal life (“IUL”) insurance	2,086		2,025
Other life insurance	636		646
Total policyholder account balances	19,747		19,793

Future policy benefits
Variable annuity guaranteed minimum withdrawal benefits (“GMWB”)	3,899		1,462
Variable annuity guaranteed minimum accumulation benefits (“GMAB”) ⁽²⁾	88		(39		)
Other annuity liabilities	154		139
Fixed annuity life contingent liabilities	1,432		1,444
Life and disability income insurance	1,199		1,212
Long term care insurance	5,125		5,302
UL/VUL and other life insurance additional liabilities	836		1,033
Total future policy benefits	12,733		10,553
Policy claims and other policyholders’ funds	205		166
Total policyholder account balances, future policy benefits and claims	$	32,685	$	30,512

⁽¹⁾ Includes fixed deferred annuities, non-life contingent fixed payout annuities and fixed deferred indexed annuity host contracts.

⁽²⁾ Includes the fair value of GMAB embedded derivatives that was a net asset as of December 31, 2019 reported as a contra liability.

Separate account liabilities consisted of the following:



	March 31, 2020		December 31, 2019
	(in millions)
Variable annuity	$	64,744	$	74,965
VUL insurance	6,073		7,429
Other insurance	25		31
Threadneedle investment liabilities	4,463		5,063
Total	$	75,305	$	87,488