Separate Accounts, Death Benefits and Other Insurance Benefit Features (Tables)

3 Months Ended

Mar. 31, 2013

Separate Accounts, Death Benefits and Other Insurance Benefit Features [Abstract]

Changes in the gross U.S. GMDB, International GMDB/GMIB, and UL secondary guarantee benefits

	GMDB			UL Secondary Guarantees
Liability balance as of January 1, 2013	$	944		$	363
Incurred	45			68
Paid	(52		)	—
Unlock	(52		)	—
Impact of Reinsurance Transaction	—			1,143
Currency Translation Adjustment	(2		)	—
Liability balance as of March 31, 2013	$	883		$	1,574
Reinsurance recoverable asset, as of January 1, 2013	$	608		$	21
Incurred	27			68
Paid	(28		)	—
Unlock	(28		)	—
Impact of Reinsurance Transaction	—			1,485
Reinsurance recoverable asset, as of March 31, 2013	$	579		$	1,574

	GMDB			UL Secondary Guarantees
Liability balance as of January 1, 2012	$	1,158		$	228
Incurred	61			24
Paid	(71		)	—
Unlock	(123		)	11
Currency Translation Adjustment	—			—
Liability balance as of March 31, 2012	$	1,025		$	263
Reinsurance recoverable asset, as of January 1, 2012	$	724		$	22
Incurred	35			(3		)
Paid	(33		)	—
Unlock	(72		)	—
Reinsurance recoverable asset, as of March 31, 2012	$	654		$	19

Individual Variable and Group Annuity Account Value By GMDB GMIB Type

Individual Variable and Group Annuity Account Value by GMDB/GMIB Type
Maximum anniversary value (“MAV”) [1]	Account Value (“AV”) [8]		Net amount at Risk (“NAR”) [9]		Retained Net Amount at Risk (“RNAR”) [9]		Weighted Average Attained Age of Annuitant
MAV only	$	19,993	$	3,448	$	214	69
With 5% rollup [2]	1,597		318		21		69
With Earnings Protection Benefit Rider (“EPB”) [3]	5,067		576		18		66
With 5% rollup & EPB	578		118		5		69
Total MAV	27,235		4,460		258
Asset Protection Benefit (APB) [4]	20,089		605		119		67
Lifetime Income Benefit (LIB) – Death Benefit [5]	1,064		17		4		65
Reset [6] (5-7 years)	3,203		104		51		69
Return of Premium [7] /Other	21,912		179		37		66
Subtotal U.S. GMDB	73,503		$	5,365	$	469	68
Less: General Account Value with U.S. GMBD	7,245
Subtotal Separate Account Liabilities with GMDB	66,258
Separate Account Liabilities without U.S. GMDB	78,881
Total Separate Account Liabilities	$	145,139
Japan GMDB [10], [11]	$	15,737	$	1,290	$	—	68
Japan GMIB [10], [11]	$	15,532	$	1,093	$	—	68

[1] MAV: the GMDB is the greatest of current AV, net premiums paid and the highest AV on any anniversary before age 80 (adjusted for withdrawals).

[2] Rollup: the GMDB is the greatest of the MAV, current AV, net premium paid and premiums (adjusted for withdrawals) accumulated at generally 5% simple interest up to the earlier of age 80 or 100% of adjusted premiums.

[3] EPB GMDB is the greatest of the MAV, current AV, or contract value plus a percentage of a contract’s growth. A contract’s growth is AV less premiums net of withdrawals, subject to a cap of 200% of premiums net of withdrawals.

[4] APB GMDB is the greater of current AV or MAV, not to exceed current AV plus 25% times the greater of net premiums and MAV (each adjusted for premiums in the past 12 months).

[5] LIB GMDB is the greatest of current AV, net premiums paid, or for certain contracts a benefit amount that ratchets over time, generally based on market performance.

[6] Reset GMDB is the greatest of current AV, net premiums paid and the most recent five to seven year anniversary AV before age 80 (adjusted for withdrawals).

[7] ROP: the GMDB is the greater of current AV and net premiums paid.

[8] AV includes the contract holder’s investment in the separate account and the general account.

[9] NAR is defined as the guaranteed benefit in excess of the current AV. RNAR is NAR reduced for reinsurances. NAR and RNAR are highly sensitive to equity market movements and increase when equity markets decline.

[10] Assumed GMDB includes a ROP and MAV (before age 80) paid in a single lump sum. GMIB is a guarantee to return initial investment, adjusted for earnings liquidity, paid through a fixed annuity, after a minimum deferral period of 10, 15 or 20 years. The guaranteed remaining balance (“GRB”) related to the Japan GMIB was $16.1 billion and $17.8 billion as of March 31, 2013 and December 31, 2012, respectively. The GRB related to the Japan GMAB and GMWB was $420 and $470 as of March 31, 2013 and December 31, 2012, respectively. These liabilities are not included in the Separate Account as they are not legally insulated from the general account liabilities of the insurance enterprise. As of March 31, 2013, 100% of RNAR is reinsured to an affiliate. See Note 11 - Transactions with Affiliates of Notes to Condensed Consolidated Financial statements.

[11] Policies with a guaranteed living benefit (a GMWB in the US or a GMIB in Japan) also have a guaranteed death benefit. The NAR for each benefit is shown, however these benefits are not additive. When a policy terminates due to death, any NAR related to GMWB or GMIB is released. Similarly, when a policy goes into benefit status on a GMWB or GMIB, its GMDB NAR is released.

Account balances of contracts with guarantees

Asset type	March 31, 2013		December 31, 2012
Equity securities (including mutual funds)	$	59,493	$	58,208
Cash and cash equivalents	6,765		6,940
Total	$	66,258	$	65,148