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Future Policy Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Liability for Future Policy Benefit, after Reinsurance [Abstract]  
Schedule of Components of Liability for Future Policy Benefits
The following table sets forth our liability for future policy benefits as of December 31:
20252024
Long-term care insurance$43,157 $41,172 
Life insurance1,467 1,564 
Fixed annuities10,437 10,695 
Total long-duration insurance contracts55,061 53,431 
Deferred profit liability136 129 
Cost of reinsurance31 50 
Total future policy benefits$55,228 $53,610 
Schedule of Liability for Future Policy Benefit Activity
The following tables present the balances of and changes in the liability for future policy benefits as of and for the years ended December 31:
2025
(Dollar amounts in millions)Long-term
care insurance		Life
insurance		Fixed
annuities
Present value of expected net premiums:
Beginning balance as of January 1$17,315 $3,690 $— 
Beginning balance, at original discount rate$17,625 $3,640 $— 
Effect of changes in cash flow assumptions(183)— — 
Effect of actual variances from expected experience(32)(41)— 
Adjusted beginning balance17,410 3,599 — 
Issuances1 — 38 
Interest accretion874 197 — 
Net premiums collected (1)
(1,874)(401)(38)
Derecognition (lapses and withdrawals)— — — 
Other— 1 — 
Ending balance, at original discount rate16,411 3,396 — 
Effect of changes in discount rate assumptions69 103 — 
Ending balance as of December 31$16,480 $3,499 $— 
Present value of expected future policy benefits:
Beginning balance as of January 1$58,487 $4,741 $10,695 
Beginning balance, at original discount rate$60,587 $4,645 $9,568 
Effect of changes in cash flow assumptions103 — (66)
Effect of actual variances from expected experience336 (9)3 
Adjusted beginning balance61,026 4,636 9,505 
Issuances1 — 34 
Interest accretion3,280 239 617 
Benefit payments(3,768)(683)(963)
Derecognition (lapses and withdrawals)— — — 
Other— (1)— 
Ending balance, at original discount rate60,539 4,191 9,193 
Effect of changes in discount rate assumptions(905)163 1,244 
Ending balance as of December 31$59,634 $4,354 $10,437 
Net liability for future policy benefits, before flooring adjustments$43,154 $855 $10,437 
Flooring adjustments (2)
3 612 — 
Net liability for future policy benefits43,157 1,467 10,437 
Less: reinsurance recoverable7,728 702 8,074 
Net liability for future policy benefits, net of reinsurance recoverable$35,429 $765 $2,363 
Weighted-average liability duration (years)11.55.610.4
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(1)Represents the portion of gross premiums collected from policyholders that is used to fund expected benefit payments.
(2)See note 2 for a discussion of flooring adjustments.
2024
(Dollar amounts in millions)Long-term
care insurance		Life
insurance		Fixed
annuities
Present value of expected net premiums:
Beginning balance as of January 1$18,650 $4,180 $— 
Beginning balance, at original discount rate$18,346 $3,918 $— 
Effect of changes in cash flow assumptions399 1 — 
Effect of actual variances from expected experience(174)(55)— 
Adjusted beginning balance18,571 3,864 — 
Issuances1 — 42 
Interest accretion915 212 — 
Net premiums collected (1)
(1,862)(437)(42)
Derecognition (lapses and withdrawals)— — — 
Other— 1 — 
Ending balance, at original discount rate17,625 3,640 — 
Effect of changes in discount rate assumptions(310)50 — 
Ending balance as of December 31$17,315 $3,690 $— 
Present value of expected future policy benefits:
Beginning balance as of January 1$62,579 $5,412 $11,829 
Beginning balance, at original discount rate$60,513 $5,146 $9,920 
Effect of changes in cash flow assumptions545 1 (1)
Effect of actual variances from expected experience106 (36)(39)
Adjusted beginning balance61,164 5,111 9,880 
Issuances1 — 35 
Interest accretion3,276 266 639 
Benefit payments(3,852)(731)(989)
Derecognition (lapses and withdrawals)— — — 
Other(2)(1)3 
Ending balance, at original discount rate60,587 4,645 9,568 
Effect of changes in discount rate assumptions(2,100)96 1,127 
Ending balance as of December 31$58,487 $4,741 $10,695 
Net liability for future policy benefits, before flooring adjustments$41,172 $1,051 $10,695 
Flooring adjustments (2)
— 513 — 
Net liability for future policy benefits41,172 1,564 10,695 
Less: reinsurance recoverable7,233 720 8,177 
Net liability for future policy benefits, net of reinsurance recoverable$33,939 $844 $2,518 
Weighted-average liability duration (years)12.55.610.1
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(1)Represents the portion of gross premiums collected from policyholders that is used to fund expected benefit payments.
(2)See note 2 for a discussion of flooring adjustments.
Schedule of Weighted Average Interest and Discount Rates
The following table provides the weighted-average interest rates for the liability for future policy benefits as of December 31:
20252024
Long-term care insurance
Interest accretion (locked-in) rate5.7%5.7%
Current discount rate5.4%5.7%
Life insurance
Interest accretion (locked-in) rate5.7%5.8%
Current discount rate5.0%5.3%
Fixed annuities
Interest accretion (locked-in) rate6.8%6.8%
Current discount rate5.5%5.6%
Schedule of Undiscounted and Discounted Expected Future Gross Premiums and Expected Future Benefit Payments
The following table sets forth the amount of undiscounted and discounted expected future gross premiums and expected future benefit payments as of December 31:
20252024
(Amounts in millions)UndiscountedDiscountedUndiscountedDiscounted
Long-term care insurance
Expected future gross premiums$32,824 $22,941 $36,325 $24,430 
Expected future benefit payments$116,322 $59,634 $121,356 $58,487 
Life insurance
Expected future gross premiums$9,129 $5,236 $9,896 $5,549 
Expected future benefit payments$6,042 $4,354 $6,764 $4,741 
Fixed annuities
Expected future gross premiums$— $— $— $— 
Expected future benefit payments$21,791 $10,437 $22,933 $10,695 
Schedule of Revenue and Interest Expense in Respect of Future Policy Benefits
The following table sets forth the amount of revenue and interest accretion (expense) recognized in net income (loss) related to our liability for future policy benefits for the years ended December 31:
202520242023
(Amounts in millions)Gross
premiums
Interest accretion (1)
Gross
premiums
Interest accretion (1)
Gross
premiums
Interest
accretion (1)
Long-term care insurance$2,544 $2,406 $2,520 $2,361 $2,713 $2,333 
Life insurance597 42 647 54 688 64 
Fixed annuities— 617 — 639 — 663 
Total$3,141 $3,065 $3,167 $3,054 $3,401 $3,060 
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(1)Amounts for interest accretion are included in benefits and other changes in policy reserves in the consolidated statements of operations.