Policy Claims and Benefits (Tables)

3 Months Ended

Mar. 31, 2022

Insurance [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

The liability for unpaid claims is reported in future policy benefits and other policy claims and benefits on the Company’s condensed consolidated balance sheets. Activity associated with unpaid claims is summarized below (dollars in millions):

	Three months ended March 31,
	2022		2021
Balance at beginning of year	$	8,053	$	7,556
Less: reinsurance recoverable	(556)		(641)
Net balance at beginning of year	7,497		6,915
Incurred:
Current year	3,438		4,097
Prior years	(82)		(59)
Total incurred	3,356		4,038
Payments:
Current year	(161)		(164)
Prior years	(3,051)		(3,196)
Total payments	(3,212)		(3,360)
Other changes:
Interest accretion	8		10
Foreign exchange adjustments	17		(51)
Total other changes	25		(41)
Net balance at end of period	7,666		7,552
Plus: reinsurance recoverable	567		732
Balance at end of period	$	8,233	$	8,284