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Future Policy Benefit Reserves (Tables)
 12 Months Ended
Dec. 31, 2025
Insurance [Abstract]  
Liability for Future Policy Benefit, Activity
The following table summarizes balances and changes in the LFPB.
(In millions)
202520242023
Present value of future net premiums
Balance, January 1$3,425 $3,710 $3,991 
     Effect of changes in discount rate(7)(125)(74)
Balance, January 1, at original locked in discount rate3,418 3,585 3,917 
     Effect of changes in cash flow assumptions (1)
114 111 28 
     Effect of actual variances from expected experience (1)
(10)(41)(126)
Adjusted balance, January 13,522 3,655 3,819 
Interest accrual176 183 202 
     Net premiums: earned during period(406)(420)(436)
Balance, end of period at original locked in discount rate3,292 3,418 3,585 
     Effect of changes in discount rate71 7 125 
Balance, December 31$3,363 $3,425 $3,710 
Present value of future benefits & expenses
Balance, January 1$16,583 $17,669 $17,471 
     Effect of changes in discount rate440 (578)(125)
Balance, January 1, at original locked in discount rate17,023 17,091 17,346 
     Effect of changes in cash flow assumptions (1)
121 126 36 
     Effect of actual variances from expected experience (1)
87 69 (46)
Adjusted balance, January 117,231 17,286 17,336 
Interest accrual918 924 962 
     Benefit & expense payments(1,165)(1,187)(1,207)
Balance, end of period at original locked in discount rate16,984 17,023 17,091 
     Effect of changes in discount rate(173)(440)578 
Balance, December 31$16,811 $16,583 $17,669 
Net LFPB$13,448 $13,158 $13,959 
(1) As of December 31, 2025, 2024 and 2023 the re-measurement gain (loss) of $(104) million, $(125) million and $(88) million presented parenthetically on the Consolidated Statement of Operations is comprised of the effect of changes in cash flow assumptions and the effect of actual variances from expected experience.
The following table presents earned premiums and interest expense associated with the Company’s long-term care business recognized on the Consolidated Statement of Operations.
Years ended December 31
(In millions)
202520242023
Earned premiums$423 $437 $451 
Interest accretion742 741 760 
The following table presents undiscounted expected future benefit and expense payments, and undiscounted expected future gross premiums.
As of December 31
(In millions)
20252024
Expected future benefit and expense payments$31,323 $31,712 
Expected future gross premiums4,930 5,183 
The weighted average interest rates in the table below are calculated based on the rate used to discount all future cash flows.
As of December 31
20252024
Original locked in discount rate5.16 %5.20 %
Upper-medium grade fixed income instrument discount rate5.32 5.51