Income Tax Level 3 (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the tax provision at the U.S. Federal statutory rate to the provision for income taxes is as follows:



	For the years ended December 31,
	2015			2014			2013
Tax provision at the U.S. federal statutory rate	$	186		$	301		$	196
Dividends received deduction ("DRD")	(152		)	(109		)	(135		)
Foreign related investments	(3		)	(8		)	(7		)
Other	(1		)	—			(5		)
Provision for income taxes	$	30		$	184		$	49

The separate account DRD is estimated for the current year using information from the most recent return, adjusted for current year equity market performance and other appropriate factors, including estimated levels of corporate dividend payments and level of policy owner equity account balances. The actual current year DRD can vary from estimates based on, but not limited to, changes in eligible dividends received in the mutual funds, amounts of distributions from these mutual funds, amounts of short-term capital gains at the mutual fund level and the Company’s taxable income before the DRD.

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

ncome taxes consists of the following:



	For the years ended December 31,
	2015			2014			2013
Income Tax Expense (Benefit)
Current - U.S. Federal	$	36		$	(339	)	$	(208	)
Deferred - U.S. Federal	(6		)	523			257
Total income tax expense	$	30		$	184		$	49

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred tax assets (liabilities) include the following:



	As of December 31,
Deferred Tax Assets	2015			2014
Tax basis deferred policy acquisition costs	$	119		$	124
Unearned premium reserve and other underwriting related reserves	4			12
Investment-related items	524			1,094
Insurance product derivatives	90			44
Net operating loss carryover	1,166			1,116
Alternative minimum tax credit	232			246
Foreign tax credit carryover	122			58
Other	16			—
Total Deferred Tax Assets	2,273			2,694
Net Deferred Tax Assets	2,273			2,694
Deferred Tax Liabilities
Financial statement deferred policy acquisition costs and reserves	(220		)	(585		)
Net unrealized gain on investments	(432		)	(816		)
Employee benefits	(40		)	(39		)
Depreciable and amortizable assets	—			(1		)
Other	—			(16		)
Total Deferred Tax Liabilities	(692		)	(1,457		)
Net Deferred Tax Asset	$	1,581		$	1,237