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

9 Months Ended

Sep. 30, 2020

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

Policyholder Account Balances, Future Policy Benefits and Claims and Separate Account Liabilities [Text Block]

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

	September 30, 2020		December 31, 2019
	(in millions)
Policyholder account balances
Fixed annuities (1)	$	8,623	$	8,909
Variable annuity fixed sub-accounts	5,105		5,103
Universal life (“UL”)/variable universal life (“VUL”) insurance	3,117		3,110
Indexed universal life (“IUL”) insurance	2,189		2,025
Structured variable annuities	820		—
Other life insurance	616		646
Total policyholder account balances	20,470		19,793
Future policy benefits
Variable annuity guaranteed minimum withdrawal benefits (“GMWB”)	3,681		1,462
Variable annuity guaranteed minimum accumulation benefits (“GMAB”) (2)	24		(39)
Other annuity liabilities	183		139
Fixed annuity life contingent liabilities	1,389		1,444
Life and disability income insurance	1,191		1,212
Long term care insurance	5,668		5,302
UL/VUL and other life insurance additional liabilities	1,228		1,033
Total future policy benefits	13,364		10,553
Policy claims and other policyholders’ funds	186		166
Total policyholder account balances, future policy benefits and claims	$	34,020	$	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:

	September 30, 2020		December 31, 2019
	(in millions)
Variable annuity	$	73,919	$	74,965
VUL insurance	7,400		7,429
Other insurance	29		31
Threadneedle investment liabilities	4,780		5,063
Total	$	86,128	$	87,488