Insurance (Tables)

12 Months Ended

Dec. 31, 2017

Insurance [Abstract]

Insurance Liabilities

Insurance liabilities are comprised of future policy benefits, policyholder account balances and other policy-related balances. Information regarding insurance liabilities by segment, as well as Corporate & Other, was as follows at:

	December 31,
	2017		2016
	(In millions)
U.S.	$	136,065	$	129,117
Asia	99,404		89,422
Latin America	16,758		14,760
EMEA	19,579		18,075
MetLife Holdings	103,372		104,271
Corporate & Other	829		(3,121		)
Total	$	376,007	$	352,524

Liabilities for Guarantees

Information regarding the liabilities for guarantees (excluding base policy liabilities and embedded derivatives) relating to annuity and universal and variable life contracts was as follows:

	Annuity Contracts						Universal and Variable Life Contracts
	GMDBs			GMIBs			Secondary Guarantees			Paid-Up Guarantees		Total
	(In millions)
Direct and Assumed:
Balance at January 1, 2015	$	307		$	463		$	2,711		$	288	$	3,769
Incurred guaranteed benefits (1)	68			62			43			18		191
Paid guaranteed benefits	(11		)	(1		)	(28		)	—		(40		)
Balance at December 31, 2015	364			524			2,726			306		3,920
Incurred guaranteed benefits (1)	102			78			291			25		496
Paid guaranteed benefits	(15		)	(1		)	(28		)	—		(44		)
Balance at December 31, 2016	451			601			2,989			331		4,372
Incurred guaranteed benefits (1)	91			121			233			16		461
Paid guaranteed benefits	(14		)	(2		)	(34		)	—		(50		)
Balance at December 31, 2017	$	528		$	720		$	3,188		$	347	$	4,783
Ceded:
Balance at January 1, 2015	$	23		$	6		$	187		$	201	$	417
Incurred guaranteed benefits	(1		)	—			31			13		43
Paid guaranteed benefits	(3		)	—			—			—		(3		)
Balance at December 31, 2015	19			6			218			214		457
Incurred guaranteed benefits	—			(1		)	(27		)	17		(11		)
Paid guaranteed benefits	5			—			—			—		5
Balance at December 31, 2016	24			5			191			231		451
Incurred guaranteed benefits	4			1			50			11		66
Paid guaranteed benefits	6			—			—			—		6
Balance at December 31, 2017	$	34		$	6		$	241		$	242	$	523
Net:
Balance at January 1, 2015	$	284		$	457		$	2,524		$	87	$	3,352
Incurred guaranteed benefits	69			62			12			5		148
Paid guaranteed benefits	(8		)	(1		)	(28		)	—		(37		)
Balance at December 31, 2015	345			518			2,508			92		3,463
Incurred guaranteed benefits	102			79			318			8		507
Paid guaranteed benefits	(20		)	(1		)	(28		)	—		(49		)
Balance at December 31, 2016	427			596			2,798			100		3,921
Incurred guaranteed benefits	87			120			183			5		395
Paid guaranteed benefits	(20		)	(2		)	(34		)	—		(56		)
Balance at December 31, 2017	$	494		$	714		$	2,947		$	105	$	4,260

__________________

(1) Secondary guarantees include the effects of foreign currency translation of $78 million, $119 million and ($80) million at December 31, 2017, 2016 and 2015, respectively.

Fund Groupings

Account balances of contracts with guarantees were invested in separate account asset classes as follows at:

	December 31,
	2017		2016 (1)
	(In millions)
Fund Groupings:
Equity	$	23,213	$	21,169
Balanced	20,859		20,070
Bond	5,983		5,827
Money Market	252		218
Total	$	50,307	$	47,284

__________________

(1) Account balances at December 31, 2016 decreased in total by $6.7 billion from those amounts previously reported to correct for the inclusion of contracts without guarantees.

Guarantees related to Annuity, Universal and Variable Life Contracts

Information regarding the Company’s guarantee exposure, which includes direct and assumed business, but excludes offsets from hedging or ceded reinsurance, if any, was as follows at:

	December 31,
	2017							2016
	In the Event of Death			At Annuitization				In the Event of Death			At Annuitization
	(Dollars in millions)
Annuity Contracts (1):
Variable Annuity Guarantees:
Total account value (2), (3)	$	66,724		$	26,223			$	66,176		$	25,335
Separate account value	$	45,431		$	24,336			$	43,359		$	23,330
Net amount at risk (2)	$	1,238	(4)	$	525	(5)		$	1,842	(4)	$	521	(5)
Average attained age of contractholders	65 years			65 years				64 years			65 years
Other Annuity Guarantees:
Total account value (3)	N/A			$	1,424			N/A			$	1,393
Net amount at risk	N/A			$	569	(6	)	N/A			$	490	(6)
Average attained age of contractholders	N/A			50 years				N/A			50 years

	December 31,
	2017				2016
	Secondary Guarantees		Paid-Up Guarantees		Secondary Guarantees		Paid-Up Guarantees
	(Dollars in millions)
Universal and Variable Life Contracts (1):
Total account value (3)	$	9,036	$	3,207	$	8,363	$	3,337
Net amount at risk (7)	$	66,956	$	16,615	$	70,225	$	17,785
Average attained age of policyholders	56 years		63 years		55 years		62 years

__________________

(1) The Company’s annuity and life contracts with guarantees may offer more than one type of guarantee in each contract. Therefore, the amounts listed above may not be mutually exclusive.

(2) Includes amounts, which are not reported on the consolidated balance sheets, from assumed variable annuity guarantees from the Company’s former operating joint venture in Japan.

(3) Includes the contractholder’s investments in the general account and separate account, if applicable.

(4) Defined as the death benefit less the total account value, as of the balance sheet date. It represents the amount of the claim that the Company would incur if death claims were filed on all contracts on the balance sheet date and includes any additional contractual claims associated with riders purchased to assist with covering income taxes payable upon death.

(5) Defined as the amount (if any) that would be required to be added to the total account value to purchase a lifetime income stream, based on current annuity rates, equal to the minimum amount provided under the guaranteed benefit. This amount represents the Company’s potential economic exposure to such guarantees in the event all contractholders were to annuitize on the balance sheet date, even though the contracts contain terms that allow annuitization of the guaranteed amount only after the 10th anniversary of the contract, which not all contractholders have achieved.

(6) Defined as either the excess of the upper tier, adjusted for a profit margin, less the lower tier, as of the balance sheet date or the amount (if any) that would be required to be added to the total account value to purchase a lifetime income stream, based on current annuity rates, equal to the minimum amount provided under the guaranteed benefit. These amounts represent the Company’s potential economic exposure to such guarantees in the event all contractholders were to annuitize on the balance sheet date.

(7) Defined as the guarantee amount less the account value, as of the balance sheet date. It represents the amount of the claim that the Company would incur if death claims were filed on all contracts on the balance sheet date.

Schedule of Federal Home Loan Bank, common stock holdings, by branch of FHLB Bank

Certain of the Company’s subsidiaries are members of regional banks in the FHLB system (“FHLBanks”). Holdings of common stock of FHLBanks, included in equity securities, were as follows at:

	December 31,
	2017		2016
	(In millions)
FHLB of New York	$	733	$	748
FHLB of Des Moines	$	35	$	35
FHLB of Pittsburgh	$	11	$	11

Schedule of liability recorded and collateral pledged for funding agreements

Such subsidiaries have also entered into funding agreements with FHLBanks and a subsidiary of the Federal Agricultural Mortgage Corporation, a federally chartered instrumentality of the U.S. (“Farmer Mac”). The liability for such funding agreements is included in policyholder account balances. Information related to such funding agreements was as follows at:

	Liability				Collateral
	December 31,
	2017		2016		2017			2016
	(In millions)
FHLB of New York (1)	$	14,445	$	14,445	$	16,605	(2)	$	16,828	(2)
Farmer Mac (3)	$	2,550	$	2,550	$	2,644		$	2,645
FHLB of Des Moines (1)	$	625	$	625	$	701	(2)	$	811	(2)
FHLB of Pittsburgh (1)	$	250	$	250	$	311	(2)	$	383	(2)

__________________

(1) Represents funding agreements issued to the applicable FHLBank in exchange for cash and for which such FHLBank has been granted a lien on certain assets, some of which are in the custody of such FHLBank, including residential mortgage-backed securities (“RMBS”), to collateralize obligations under advances evidenced by funding agreements. The applicable subsidiary of the Company is permitted to withdraw any portion of the collateral in the custody of such FHLBank as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level. Upon any event of default by such subsidiary, the applicable FHLBank’s recovery on the collateral is limited to the amount of such subsidiary’s liability to such FHLBank.

(2) Advances are collateralized by mortgage-backed securities. The amount of collateral presented is at estimated fair value.

(3) Represents funding agreements issued to a subsidiary of Farmer Mac, as well as certain SPEs that have issued debt securities for which payment of interest and principal is secured by such funding agreements, and such debt securities are also guaranteed as to payment of interest and principal by Farmer Mac. The obligations under these funding agreements are secured by a pledge of certain eligible agricultural mortgage loans and may, under certain circumstances, be secured by other qualified collateral. The amount of collateral presented is at carrying value.

Invested assets on deposit, held in trust and pledged as collateral are presented below at estimated fair value for all asset classes, except mortgage loans, which are presented at carrying value at:

	December 31,
	2017		2016
	(In millions)
Invested assets on deposit (regulatory deposits)	$	1,879	$	1,925
Invested assets held in trust (collateral financing arrangement and reinsurance agreements)	2,490		2,057
Invested assets pledged as collateral (1)	24,174		23,882
Total invested assets on deposit, held in trust and pledged as collateral	$	28,543	$	27,864

__________________

(1) The Company has pledged invested assets in connection with various agreements and transactions, including funding agreements (see Note 4), derivative transactions (see Note 9), secured debt (see Note 12), and a collateral financing arrangement (see Note 13).

Short-duration Insurance Contracts, Claims Development

Group Life - Term

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance															At December 31, 2017
	For the Years Ended December 31,															Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2011		2012		2013		2014		2015		2016		2017
	(Dollars in millions)
2011	$	6,318	$	6,290	$	6,293	$	6,269	$	6,287	$	6,295	$	6,294		$	1	207,301
2012			6,503		6,579		6,569		6,546		6,568		6,569			3		208,626
2013					6,637		6,713		6,719		6,720		6,730			15		210,643
2014							6,986		6,919		6,913		6,910			5		210,797
2015									7,040		7,015		7,014			12		211,597
2016											7,125		7,085			21		206,610
2017													7,432			898		186,954
Total													48,034
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance													(46,136		)
All outstanding liabilities for incurral years prior to 2011, net of reinsurance													5
Total unpaid claims and claim adjustment expenses, net of reinsurance													$	1,903

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2011		2012		2013		2014		2015		2016		2017
	(In millions)
2011	$	4,982	$	6,194	$	6,239	$	6,256	$	6,281	$	6,290	$	6,292
2012			5,132		6,472		6,518		6,532		6,558		6,565
2013					5,216		6,614		6,664		6,678		6,711
2014							5,428		6,809		6,858		6,869
2015									5,524		6,913		6,958
2016											5,582		6,980
2017													5,761
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance													$	46,136

Group Long-Term Disability

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance															At December 31, 2017
	For the Years Ended December 31,															Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2011		2012		2013		2014		2015		2016		2017
	(Dollars in millions)
2011	$	955	$	916	$	894	$	914	$	924	$	923	$	918		$	—	21,642
2012			966		979		980		1,014		1,034		1,037			—		20,085
2013					1,008		1,027		1,032		1,049		1,070			—		21,123
2014							1,076		1,077		1,079		1,101			—		22,838
2015									1,082		1,105		1,093			4		21,136
2016											1,131		1,139			26		17,585
2017													1,244			585		9,258
Total													7,602
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance													(3,006		)
All outstanding liabilities for incurral years prior to 2011, net of reinsurance													2,539
Total unpaid claims and claim adjustment expenses, net of reinsurance													$	7,135

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2011		2012		2013		2014		2015		2016		2017
	(In millions)
2011	$	44	$	217	$	337	$	411	$	478	$	537	$	588
2012			43		229		365		453		524		591
2013					43		234		382		475		551
2014							51		266		428		526
2015									50		264		427
2016											49		267
2017													56
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance													$	3,006

Property & Casualty - Auto Liability

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2017
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2008		2009		2010		2011		2012		2013		2014		2015		2016		2017
	(Dollars in millions)
2008	$	818	$	839	$	828	$	805	$	799	$	794	$	793	$	791	$	790	$	791		$	—	200,517
2009			862		877		853		826		823		817		815		815		814			—		201,579
2010					863		873		853		847		833		826		825		822			1		202,098
2011							863		876		869		855		846		843		843			2		202,513
2012									882		881		869		851		846		847			3		196,928
2013											911		900		882		878		876			6		201,297
2014													897		910		913		910			12		203,560
2015															975		984		979			30		207,485
2016																	1,012		1,002			77		204,497
2017																			957			161		173,607
Total																			8,841
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(7,672		)
All outstanding liabilities for incurral years prior to 2008, net of reinsurance																			27
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	1,196

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2008		2009		2010		2011		2012		2013		2014		2015		2016		2017
	(In millions)
2008	$	304	$	553	$	657	$	725	$	764	$	778	$	785	$	787	$	788	$	789
2009			321		563		681		755		789		803		810		813		813
2010					319		572		695		762		796		810		816		818
2011							324		590		711		777		810		825		831
2012									333		600		715		783		815		831
2013											346		618		743		809		843
2014													352		648		777		844
2015															384		691		822
2016																	396		702
2017																			379
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	7,672

Property & Casualty - Home

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2017
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2008		2009		2010		2011		2012		2013		2014		2015		2016		2017
	(Dollars in millions)
2008	$	644	$	636	$	599	$	590	$	588	$	589	$	588	$	586	$	585	$	585		$	—	127,479
2009			506		523		510		507		503		501		498		497		497			—		106,616
2010					573		589		587		584		582		581		580		579			—		115,510
2011							891		868		843		840		835		835		834			—		166,455
2012									714		713		703		698		696		694			2		146,536
2013											654		652		635		635		634			4		107,525
2014													707		702		704		705			7		113,604
2015															759		753		752			12		107,073
2016																	740		743			20		106,537
2017																			747			66		106,915
Total																			6,770
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(6,545		)
All outstanding liabilities for incurral years prior to 2008, net of reinsurance																			1
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	226

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2008		2009		2010		2011		2012		2013		2014		2015		2016		2017
	(In millions)
2008	$	446	$	558	$	574	$	579	$	582	$	583	$	584	$	584	$	584	$	584
2009			385		476		486		492		495		495		496		496		496
2010					436		546		562		571		574		577		578		578
2011							690		804		819		825		827		830		832
2012									559		668		681		687		689		690
2013											505		604		618		626		628
2014													574		670		685		692
2015															603		717		731
2016																	593		704
2017																			610
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	6,545

Group Disability & Group Life

			Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance															At December 31, 2017
			For the Years Ended December 31,															Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
			(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017
	(Dollars in millions)
2010	$	82	$	78	$	84	$	107	$	107	$	103	$	135	$	144		$	24	2,490
2011			64		67		88		88		94		124		132			24		2,629
2012					98		104		103		118		119		122			10		3,962
2013							148		150		174		168		167			19		4,448
2014									297		279		256		256			54		5,020
2015											280		267		271			78		4,473
2016													234		238			102		2,314
2017															303			215		1,456
Total															1,633
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance															(1,108		)
All outstanding liabilities for incurral years prior to 2010, net of reinsurance															27
Total unpaid claims and claim adjustment expenses, net of reinsurance															$	552

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2010		2011		2012		2013		2014		2015		2016		2017
	(In millions)
2010	$	20	$	40	$	53	$	65	$	79	$	89	$	114	$	121
2011			13		40		54		67		81		102		109
2012					30		65		85		99		106		112
2013							44		99		121		136		149
2014									69		144		180		202
2015											81		154		192
2016													66		135
2017															88
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance															$	1,108

Protection Life

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2017
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2008		2009		2010		2011		2012		2013		2014		2015		2016		2017
	(Dollars in millions)
2008	$	208	$	277	$	281	$	282	$	283	$	283	$	283	$	283	$	283	$	284		$	—	31,642
2009			236		319		324		325		325		325		326		326		327			—		31,322
2010					259		333		340		341		342		342		342		343			—		33,386
2011							150		229		236		237		238		238		235			—		28,103
2012									159		215		221		222		223		221			—		29,244
2013											176		246		253		254		253			—		33,170
2014													252		381		392		361			1		41,566
2015															330		470		440			2		47,111
2016																	359		456			14		40,972
2017																			372			117		25,103
Total																			3,292
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(3,024		)
All outstanding liabilities for incurral years prior to 2008, net of reinsurance																			12
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	280

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2008		2009		2010		2011		2012		2013		2014		2015		2016		2017
	(In millions)
2008	$	205	$	271	$	276	$	277	$	277	$	277	$	277	$	278	$	278	$	281
2009			234		311		316		317		317		317		317		317		321
2010					239		311		318		319		319		319		320		322
2011							147		225		231		232		232		232		234
2012									157		212		217		218		219		219
2013											172		238		243		244		244
2014													226		336		342		346
2015															271		379		404
2016																	245		437
2017																			216
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	3,024

Protection Health

	Incurred Claims and Allocated Claim Adjustment Expense, Net of Reinsurance																					At December 31, 2017
	For the Years Ended December 31,																					Total IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	(Unaudited)
Incurral Year	2008		2009		2010		2011		2012		2013		2014		2015		2016		2017
	(Dollars in millions)
2008	$	133	$	149	$	151	$	151	$	151	$	152	$	152	$	152	$	152	$	154		$	—	89,217
2009			153		171		173		173		174		174		174		174		177			—		92,530
2010					180		201		202		203		204		204		204		207			—		96,276
2011							216		240		242		243		243		243		240			—		105,965
2012									209		235		237		237		238		236			—		99,498
2013											226		255		257		258		255			1		103,110
2014													235		261		263		261			2		96,260
2015															202		229		231			3		84,678
2016																	265		305			7		101,478
2017																			383			48		101,116
Total																			2,449
Cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			(2,365		)
All outstanding liabilities for incurral years prior to 2008, net of reinsurance																			3
Total unpaid claims and claim adjustment expenses, net of reinsurance																			$	87

	Cumulative Paid Claims and Paid Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Incurral Year	2008		2009		2010		2011		2012		2013		2014		2015		2016		2017
	(In millions)
2008	$	133	$	149	$	151	$	151	$	151	$	152	$	152	$	152	$	152	$	154
2009			153		171		173		173		174		174		174		174		177
2010					180		201		202		203		203		204		204		207
2011							216		240		242		243		243		243		240
2012									209		235		237		237		238		236
2013											226		255		257		258		255
2014													233		259		262		258
2015															202		229		228
2016																	249		298
2017																			312
Total cumulative paid claims and paid allocated claim adjustment expenses, net of reinsurance																			$	2,365

Short-duration Insurance Contracts, Schedule of Historical Claims Duration

The following is supplementary information about average historical claims duration as of December 31, 2017:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		6		7
Group Life - Term	78.3	%	20.0	%	0.7	%	0.2	%	0.4	%	0.1	%	—	%

The following is supplementary information about average historical claims duration as of December 31, 2017:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		6		7
Group Long-Term Disability	4.4	%	18.8	%	13.9	%	8.5	%	7.1	%	6.4	%	5.6	%

The following is supplementary information about average historical claims duration as of December 31, 2017:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		6		7		8		9		10
Auto Liability	39.3	%	31.3	%	14.0	%	7.9	%	4.0	%	1.8	%	0.9	%	0.5	%	0.1	%	0.2	%

The following is supplementary information about average historical claims duration as of December 31, 2017:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		$	6		7		8		9		10
Home	80.5	%	14.8	%	2.3	%	1.0	%	0.6	%	0.3		%	0.2	%	0.1	%	—	%	0.1	%

The following is supplementary information about average historical claims duration as of December 31, 2017:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		6		7		8
Group Disability & Group Life	23.6	%	25.8	%	13.0	%	9.3	%	8.6	%	8.9	%	11.3	%	5.5	%

The following is supplementary information about average historical claims duration as of December 31, 2017:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		6		7		8		9		10
Protection Life	65.1	%	27.8	%	2.3	%	0.5	%	0.1	%	—	%	0.2	%	0.2	%	0.6	%	1.3	%

The following is supplementary information about average historical claims duration as of December 31, 2017:

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1		2		3		4		5		6		7	8		9		10
Protection Health	86.7	%	11.2	%	0.6	%	0.1	%	—	%	—	%	(0.3)%	0.5	%	0.8	%	1.4	%

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability

The reconciliation of the net incurred and paid claims development tables to the liability for unpaid claims and claims adjustment expenses on the consolidated balance sheet was as follows at:

	December 31, 2017
	(In millions)
Short-Duration:
Unpaid claims and allocated claims adjustment expenses, net of reinsurance:
U.S.:
Group Life - Term	$	1,903
Group Long-Term Disability	7,135
Property & Casualty - Auto	1,196
Property & Casualty - Home	226
Total			$	10,460
Asia - Group Disability & Group Life			552
Latin America:
Protection Life	280
Protection Health	87
Total			367
Other insurance lines - all segments combined			970
Total unpaid claims and allocated claims adjustment expenses, net of reinsurance			12,349
Reinsurance recoverables on unpaid claims:
U.S.:
Group Life - Term	16
Group Long-Term Disability	95
Property & Casualty - Auto	73
Property & Casualty - Home	5
Total			189
Asia - Group Disability & Group Life			261
Latin America:
Protection Life	4
Protection Health	4
Total			8
Other insurance lines - all segments combined			203
Total reinsurance recoverable on unpaid claims			661
Total unpaid claims and allocated claims adjustment expense			13,010
Unallocated claims adjustment expenses			107
Discounting			(1,328		)
Liability for unpaid claims and claim adjustment liabilities - short-duration			11,789
Liability for unpaid claims and claim adjustment liabilities - all long-duration lines			5,305
Total liability for unpaid claims and claim adjustment expense (included in future policy benefits and other policy-related balances)			$	17,094

Liabilities for Unpaid Claims and Claim Expenses

Information regarding the liabilities for unpaid claims and claim adjustment expenses was as follows:

	Years Ended December 31,
	2017			2016 (1)			2015 (2)
	(In millions)
Balance at December 31 of prior period	$	16,157		$	9,669		$	9,525
Less: Reinsurance recoverables	1,968			476			454
Net balance at December 31 of prior period	14,189			9,193			9,071
Cumulative adjustment (3)	—			4,819			—
Net balance at January 1,	14,189			14,012			9,071
Incurred related to:
Current year	24,370			24,011			9,533
Prior years (4)	133			382			(78		)
Total incurred	24,503			24,393			9,455
Paid related to:
Current year	(18,525		)	(18,696		)	(6,759		)
Prior years	(5,271		)	(5,520		)	(2,574		)
Total paid	(23,796		)	(24,216		)	(9,333		)
Net balance at December 31,	14,896			14,189			9,193
Add: Reinsurance recoverables	2,198			1,968			476
Balance at December 31,	$	17,094		$	16,157		$	9,669

__________________

(1) In addition to the revisions discussed in Note 1, at December 31, 2016, the Net balance decreased by $736 million and the Reinsurance recoverables increased by $742 million from those amounts previously reported primarily to correct for the improper classification of reinsurance recoverables.

(2) Limited to property & casualty, group accident and non-medical health policies and contracts.

(3) Reflects the accumulated adjustment, net of reinsurance, upon implementation of the new short-duration contracts guidance which clarified the requirement to include claim information for long-duration contracts. The accumulated adjustment primarily reflects unpaid claim liabilities, net of reinsurance, for long-duration contracts as of the beginning of the period presented. Prior periods have not been restated. See Note 1.

(4) During 2017, as a result of changes in estimates of insured events in the respective prior year, claims and claim adjustment expenses associated with prior years increased due to events incurred in prior years but reported during current year. During 2016, as a result of changes in estimates of insured events in the respective prior year, claims and claim adjustment expenses associated with prior years increased due to the implementation of new guidance related to short-duration contracts. During 2015, as a result of changes in estimates of insured events in the respective prior year, claims and claim adjustment expenses associated with prior years decreased due to a reduction in prior year automobile bodily injury and homeowners’ severity.