Separate Accounts, Death Benefits and Other Insurance Benefit Features (Tables)

3 Months Ended

Mar. 31, 2012

Separate Accounts, Death Benefits and Other Insurance Benefit Features [Abstract]

Changes in the gross U.S. GMDB, International GMDB/GMIB, and UL secondary guarantee benefits

	U.S. GMDB			International GMDB/GMIB			UL Secondary Guarantees
Liability balance as of January 1, 2012	$	1,104		$	975		$	228
Incurred		56			33			24
Paid		(50	)		(53	)		—
Unlock		(134	)		(139	)		11
Currency translation adjustment		—			(61	)		—
Liability balance as of March 31, 2012	$	976		$	755		$	263
Reinsurance recoverable asset, as of January 1, 2012	$	724		$	40		$	22
Incurred		35			2			(3	)
Paid		(33	)		(7	)		—
Unlock		(72	)		13			—
Currency translation adjustment		—			(3	)		—
Reinsurance recoverable asset, as of March 31, 2012	$	654		$	45		$	19

	U.S. GMDB			International GMDB/GMIB			UL Secondary Guarantees
Liability balance as of January 1, 2011	$	1,053		$	696		$	113
Incurred		57			31			13
Paid		(51	)		(40	)		—
Unlock		(55	)		(17	)		—
Currency translation adjustment		—			(14	)		—
Liability balance as of March 31, 2011	$	1,004		$	656		$	126
Reinsurance recoverable asset, as of January 1, 2011	$	686		$	36		$	30
Incurred		34			1			2
Paid		(35	)		—			—
Unlock		(29	)		4			—
Currency translation adjustment		—			(1	)		—
Reinsurance recoverable asset, as of March 31, 2011	$	656		$	40		$	32

Individual Variable and Group Annuity Account Value By GMDB GMIB Type

Individual Variable and Group Annuity Account Value by GMDB/GMIB Type
Maximum anniversary value (“MAV”) [1]	Account Value (“AV”) [8]		Net Amount at Risk (“NAR”) [10]		Retained Net Amount at Risk (“RNAR”) [10]		Weighted Average Attained Age of Annuitant
MAV only	$	21,849	$	4,352	$	907		69
With 5% rollup [2]		1,567		398		124		69
With Earnings Protection Benefit Rider (“EPB”) [3]		5,618		680		87		65
With 5% rollup & EPB		615		135		29		68
Total MAV		29,649		5,565		1,147
Asset Protection Benefit (“APB”) [4]		23,135		1,522		988		66
Lifetime Income Benefit (“LIB”) – Death Benefit [5]		1,153		47		47		64
Reset [6] (5-7 years)		3,343		165		163		68
Return of Premium (“ROP”) [7]/Other		22,950		425		405		66
Subtotal U.S. GMDB		80,230		7,724		2,750		67
Less: General Account Value with U.S. GMDB		7,335
Subtotal Separate Account Liabilities with GMDB		72,895
Separate Account Liabilities without U.S. GMDB		79,507
Total Separate Account Liabilities	$	152,402
Japan GMDB [9], [11]	$	29,396	$	7,580	$	6,469		70
Japan GMIB [9], [11]	$	27,350	$	4,785	$	4,785		70

[1] MAV GMDB is the greatest of current AV, net premiums paid and the highest AV on any anniversary before age 80 (adjusted for withdrawals).

[2] Rollup GMDB is the greatest of the MAV, current AV, net premium paid and premiums (adjusted for withdrawals) accumulated at generally 5% simple interest up to the earlier of age 80 or 100% of adjusted premiums.

[3] EPB GMDB is the greatest of the MAV, current AV, or contract value plus a percentage of the contract’s growth. The contract’s growth is AV less premiums net of withdrawals, subject to a cap of 200% of premiums net of withdrawals.

[4] APB GMDB is the greater of current AV or MAV, not to exceed current AV plus 25% times the greater of net premiums and MAV (each adjusted for premiums in the past 12 months).

[5] LIB GMDB is the greatest of current AV, net premiums paid, or for certain contracts a benefit amount that ratchets over time, generally based on market performance.

[6] Reset GMDB is the greatest of current AV, net premiums paid and the most recent five to seven year anniversary AV before age 80 (adjusted for withdrawals).

[7] ROP GMDB is the greater of current AV or net premiums paid.

[8] AV includes the contract holder’s investment in the separate account and the general account.

[9] GMDB includes a ROP and MAV (before age 80) paid in a single lump sum. GMIB is a guarantee to return initial investment, adjusted for earnings liquidity which allows for free withdrawal of earnings, paid through a fixed payout annuity, after a minimum deferral period of 10, 15 or 20 years. The GRB related to the Japan GMIB was $31.4 billion and $34.1 billion as of March 31, 2012 and December 31, 2011, respectively. The GRB related to the Japan GMAB and GMWB was $646 as of March 31, 2012 and $701 as of December 31, 2011. These liabilities are not included in the Separate Account as they are not legally insulated from the general account liabilities of the insurance enterprise. As of March 31, 2012, 55 % of the GMDB RNAR and 69% of the GMIB NAR is reinsured to a Hartford affiliate.

[10] NAR is defined as the guaranteed benefit in excess of the current AV. RNAR represents NAR reduced for reinsurance. NAR and RNAR are highly sensitive to equity markets movements and increase when equity markets decline. Additionally Japan’s NAR and RNAR are highly sensitive to currency movements and increase when the Yen strengthens.

[11] Policies with a guaranteed living benefit (GMIB in Japan) also have a guaranteed death benefit. The NAR for each benefit is shown in the table above, however these benefits are not additive. When a policy terminates due to death, any NAR related to GMWB or GMIB is released. Similarly, when a policy goes into benefit status on a GMWB or GMIB, its GMDB NAR is released.

Account balances of contracts with guarantees

Asset type	As of March 31, 2012		As of December 31, 2011
Equity securities (including mutual funds)	$	65,862	$	61,472
Cash and cash equivalents		7,033		7,516
Total	$	72,895	$	68,988