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Fair Value Measurements - The carrying value and fair value of financial instruments (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Financial assets:    
Mortgage loans $ 1,475 $ 1,329
Policy loans 158 164
Financial liabilities:    
Long-term debt 1,912 1,473
Level 1    
Financial assets:    
Cash and cash equivalents 2,698 2,314
Mortgage loans 0 0
Policy loans 0 0
Total financial assets not accounted for at fair value 2,698 2,314
Financial liabilities:    
Annuity benefits accumulated [1] 0 0
Long-term debt 0 0
Total financial liabilities not accounted for at fair value 0 0
Level 2    
Financial assets:    
Cash and cash equivalents 0 0
Mortgage loans 0 0
Policy loans 0 0
Total financial assets not accounted for at fair value 0 0
Financial liabilities:    
Annuity benefits accumulated [1] 0 0
Long-term debt 2,057 1,619
Total financial liabilities not accounted for at fair value 2,057 1,619
Level 3    
Financial assets:    
Cash and cash equivalents 0 0
Mortgage loans 1,492 1,346
Policy loans 158 164
Total financial assets not accounted for at fair value 1,650 1,510
Financial liabilities:    
Annuity benefits accumulated [1] 42,462 40,182
Long-term debt 3 3
Total financial liabilities not accounted for at fair value 42,465 40,185
Carrying Value    
Financial assets:    
Cash and cash equivalents 2,698 2,314
Mortgage loans 1,475 1,329
Policy loans 158 164
Total financial assets not accounted for at fair value 4,331 3,807
Financial liabilities:    
Annuity benefits accumulated [1] 41,137 40,159
Long-term debt 1,912 1,473
Total financial liabilities not accounted for at fair value 43,049 41,632
Fair Value    
Financial assets:    
Cash and cash equivalents 2,698 2,314
Mortgage loans 1,492 1,346
Policy loans 158 164
Total financial assets not accounted for at fair value 4,348 3,824
Financial liabilities:    
Annuity benefits accumulated [1] 42,462 40,182
Long-term debt 2,060 1,622
Total financial liabilities not accounted for at fair value $ 44,522 $ 41,804
[1] Excludes $255 million and $247 million of life contingent annuities in the payout phase at June 30, 2020 and December 31, 2019, respectively.