Variable Annuity and Insurance Guarantees (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Variable Annuity Guarantees [Table Text Block]

The following table provides information related to variable annuity guarantees for which the Company has established additional liabilities:



Variable Annuity Guarantees by Benefit Type ⁽¹⁾	March 31, 2020							December 31, 2019
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	$	55,082	$	53,129	$	611	68	$	62,909	$	60,967	$	5	67
Five/six-year reset	6,920		4,189		205		68	7,983		5,263		7		67
One-year ratchet	5,080		4,740		518		70	5,935		5,600		7		70
Five-year ratchet	1,195		1,139		46		67	1,396		1,340		—		66
Other	1,040		1,022		185		73	1,192		1,174		65		73
Total — GMDB	$	69,317	$	64,219	$	1,565	68	$	79,415	$	74,344	$	84	67

GGU death benefit	$	955	$	899	$	107	71	$	1,115	$	1,063	$	133	71

GMIB	$	150	$	136	$	18	70	$	186	$	172	$	6	70

GMWB:
GMWB	$	1,691	$	1,685	$	6	73	$	1,999	$	1,993	$	1	73
GMWB for life	41,357		41,254		1,230		68	46,799		46,691		272		68
Total — GMWB	$	43,048	$	42,939	$	1,236	68	$	48,798	$	48,684	$	273	68

GMAB	$	2,184	$	2,181	$	35	60	$	2,528	$	2,524	$	—	60

⁽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 [Table Text Block]

The following table provides information related to insurance guarantees for which the Company has established additional liabilities:



	March 31, 2020			December 31, 2019
	Net Amount at Risk		Weighted Average Attained Age	Net Amount at Risk		Weighted Average Attained Age
	(in millions, except age)
UL secondary guarantees	$	6,550	67	$	6,550	67

Schedule of Changes in Additional Liabilities for Variable Annuity and Insurance Guarantees [Table Text Block]

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, 2019	$	19		$	8		$	875		$	(19	)	$	659
Incurred claims	—			(1		)	(104		)	(26		)	34
Paid claims	(2		)	—			—			—			(17		)
Balance at March 31, 2019	$	17		$	7		$	771		$	(45	)	$	676

Balance at January 1, 2020	$	16		$	7		$	1,462		$	(39	)	$	758
Incurred claims	5			2			2,437			127			32
Paid claims	(2		)	—			—			—			(12		)
Balance at March 31, 2020	$	19		$	9		$	3,899		$	88		$	778

⁽¹⁾The incurred claims for GMWB and GMAB include the change in the fair value of the liabilities (contra liabilities) less paid claims.

Schedule of Separate Account Balances by Asset Type [Table Text Block]

The following table summarizes the distribution of separate account balances by asset type for variable annuity contracts providing guaranteed benefits:



	March 31, 2020		December 31, 2019
	(in millions)
Mutual funds:
Equity	$	37,834	$	44,739
Bond	20,701		23,374
Other	5,888		6,471
Total mutual funds	$	64,423	$	74,584