Other Policyholder Funds and Benefits Payable

9 Months Ended

Sep. 30, 2023

Insurance Loss Reserves [Abstract]

Policyholder Account Balance Disclosure [Text Block]

11. OTHER POLICYHOLDER FUNDS AND BENEFITS PAYABLE

Other policyholder funds and benefits payable of $645 and $659 as of September 30, 2023 and 2022 respectively, included universal life long-duration contacts of $226 and $236 as well as policyholder balances related to short-duration contracts of $419 and $423. The universal life long-duration contacts presented in the table below were economically ceded to Prudential as part of the sale of the Company's former individual life business, which closed in 2013.

Universal Life Long Duration Contracts Rollforward
	For the nine months ended September 30,
	2023			2022
Balance, beginning of the period	$	232		$	253
Premiums Received	10			11
Policy Charges	(15)			(18)
Surrenders and Withdrawals	(4)			(3)
Benefit Payments	(4)			(16)
Interest Credited	7			9
Balance, end of the period	$	226		$	236
Weighted-average crediting rate	4.2		%	4.2		%
Net Amount at Risk [1]	$	928		$	1,010
Cash Surrender Value	$	224		$	233

[1]Net amount at risk is defined as the current death benefit in excess of the current account value as of the balance sheet date.

As of September 30, 2023 and 2022, universal life contracts of $225 and $234, respectively, had crediting rates at their guaranteed minimums ranging from 4%-5%