Reserve for Future Policy Benefits (Tables)

9 Months Ended

Sep. 30, 2023

Insurance Loss Reserves [Abstract]

Liability for Future Policy Benefit, Activity [Table Text Block]

Rollforward of Reserve for Future Policy Benefits
	For the nine months ended September 30,
	2023						2022
	Payout Annuities		Life Conversions		Paid-up Life		Payout Annuities		Life Conversions		Paid-up Life
Present Value of Expected Net Premiums
Balance, beginning of the period			$	47					$	58
Balance, ending of the period			$	46					$	47
Present Value of Expected Future Policy Benefits
Beginning balance at single-A rate	$	140	$	112	$	192	$	188	$	152	$	262
Beginning adjustment for changes in single-A rate	4		(14)		(39)		47		19		14
Beginning balance at original discount rate	136		126		231		141		133		248
Effect of changes in cash flow assumptions	(2)		1		—		—		—		—
Effect of actual variances from expected experience	1		4		(1)		—		5		—
Adjusted beginning balance	135		131		230		141		138		248
Interest accrual and other	5		14		7		6		13		5
Benefit Payments	(9)		(20)		(17)		(9)		(21)		(19)
Ending balance at original discount rate	131		125		220		138		130		234
Ending adjustment for changes in single-A rate	(3)		(20)		(44)		1		(16)		(41)
Ending balance at single-A rate	$	128	$	105	$	176	$	139	$	114	$	193
Net reserve for future policy benefits	$	128	$	59	$	176	$	139	$	67	$	193
Weighted-average duration of the reserve for future policy benefits (years)	9.0		11.4		6.1		9.2		12.0		6.4

Net Reserve for Future Policy Benefits
	As of September 30,
	2023		2022
Payout Annuities	$	128	$	139
Life Conversions	59		67
Paid-up Life	176		193
Deferred Profit Liability	20		19
Other	80		90
Total	$	463	$	508

Undiscounted Expected Future Gross Premiums and Benefit Payments
	As of September 30,
	2023		2022
Payout Annuities [1]
Expected future benefit payments	$	259	$	275
Life Conversions
Expected future gross premiums	$	116	$	125
Expected future benefit payments	$	206	$	217
Paid-up Life [1]
Expected future benefit payments	$	285	$	305

[1]Payout Annuities and Paid-up Life have no expected future gross premiums.

Weighted-Average Interest Rates
	As of September 30,
	2023		2022
Payout Annuities
Interest accretion rate	5.6	%	5.6	%
Current discount rate	5.9	%	5.5	%
Life Conversions
Interest accretion rate	4.2	%	4.1	%
Current discount rate	5.9	%	5.4	%
Paid-up Life
Interest accretion rate	2.9	%	2.9	%
Current discount rate	5.9	%	5.3	%