Variable Annuity and Insurance Guarantees (Tables)

12 Months Ended

Dec. 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)	December 31, 2020							December 31, 2019
	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	$	66,874	$	64,932	$	5	68	$	62,909	$	60,967	$	5	67
Five/six-year reset	8,116		5,386		6		68	7,983		5,263		7		67
One-year ratchet	6,094		5,763		8		71	5,935		5,600		7		70
Five-year ratchet	1,436		1,381		—		67	1,396		1,340		—		66
Other	1,261		1,243		45		73	1,192		1,174		65		73
Total — GMDB	$	83,781	$	78,705	$	64	68	$	79,415	$	74,344	$	84	67

GGU death benefit	$	1,183	$	1,126	$	162	71	$	1,115	$	1,063	$	133	71

GMIB	$	187	$	173	$	6	71	$	186	$	172	$	6	70

GMWB:
GMWB	$	1,972	$	1,967	$	1	74	$	1,999	$	1,993	$	1	73
GMWB for life	50,142		50,057		185		69	46,799		46,691		272		68
Total — GMWB	$	52,114	$	52,024	$	186	69	$	48,798	$	48,684	$	273	68

GMAB	$	2,291	$	2,291	$	—	61	$	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 at risk UL secondary guarantees [Table Text Block]

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


	December 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	$	6,587	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, 2018	$	17	$	6	$	463	$	(80)	$	489
Incurred claims	8		2		412		61		201
Paid claims	(6)		—		—		—		(31)
Balance at December 31, 2018	19		8		875		(19)		659
Incurred claims	2		(1)		587		(20)		141
Paid claims	(5)		—		—		—		(42)
Balance at December 31, 2019	16		7		1,462		(39)		758
Incurred claims	15		—		1,587		40		209
Paid claims	(7)		(1)		—		—		(51)
Balance at December 31, 2020	$	24	$	6	$	3,049	$	1	$	916

(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:


	December 31,
	2020		2019
	(in millions)
Mutual funds:
Equity	$	45,947	$	44,739
Bond	26,073		23,374
Other	6,911		6,471
Total mutual funds	$	78,931	$	74,584