Reserve for Future Policy Benefits and Separate Account Liabilities Level 3 (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Liability for Future Policy Benefits, by Product Segment [Table Text Block]



Changes in Reserves for Future Policy Benefits
	Universal Life-Type Contracts
	GMDB/GMWB [1]			Life Secondary Guarantees		Traditional Annuity and Other Contracts [2] [4]			Total
Liability balance as of January 1, 2017	$	786		$	2,627	$	10,587		$	14,000
Incurred [3]	185			313		777			1,275
Paid	(98		)	—		(787		)	(885		)
Change in unrealized investment gains and losses	—			—		92			92
Liability balance as of December 31, 2017	$	873		$	2,940	$	10,669		$	14,482
Reinsurance recoverable asset, as of January 1, 2017	$	432		$	2,627	$	1,697		$	4,756
Incurred [3]	113			313		108			534
Paid	(81		)	—		(63		)	(144		)
Reinsurance recoverable asset, as of December 31, 2017	$	464		$	2,940	$	1,742		$	5,146



	Universal Life-Type Contracts
	GMDB/GMWB [1]			Life Secondary Guarantees		Traditional Annuity and Other Contracts [2]			Total Future Policy Benefits
Liability balance as of January 1, 2016	$	863		$	2,313	$	10,674		$	13,850
Incurred [3]	37			314		671			1,022
Paid	(114		)	—		(785		)	(899		)
Change in unrealized investment gains and losses	—			—		27			27
Liability balance as of December 31, 2016	$	786		$	2,627	$	10,587		$	14,000
Reinsurance recoverable asset, as of January 1, 2016	$	523		$	2,313	$	1,823		$	4,659
Incurred [3]	—			314		(56		)	258
Paid	(91		)	—		(70		)	(161		)
Reinsurance recoverable asset, as of December 31, 2016	$	432		$	2,627	$	1,697		$	4,756


[1]	These liability balances include all GMDB benefits, plus the life-contingent portion of GMWB benefits in excess of the return of the GRB. GMWB benefits up to the GRB are embedded derivatives held at fair value and are excluded from these balances.


[2]	Represents life-contingent reserves for which the company is subject to insurance and investment risk.


[3]	Includes the portion of assessments established as additions to reserves as well as changes in estimates affecting the reserves.


[4]	Includes $285 of gross reserves and $288 of reinsurance recoverables that relates to business HLIC cedes to HLA.



Account Value by GMDB/GMWB Type as of December 31, 2017
	Account Value (“AV”) [8]		Net amount at Risk (“NAR”) [9]		Retained Net Amount at Risk (“RNAR”) [9]		Weighted Average Attained Age of Annuitant
MAV [1]
MAV only	$	13,769	$	1,995	$	300	71
With 5% rollup [2]	1,152		131		41		72
With Earnings Protection Benefit Rider (“EPB”) [3]	3,498		541		82		71
With 5% rollup & EPB	477		108		23		73
Total MAV	18,896		2,775		446
Asset Protection Benefit ("APB") [4]	10,107		92		62		70
Lifetime Income Benefit ("LIB") – Death Benefit [5]	452		4		4		71
Reset [6] (5-7 years)	2,469		6		5		70
Return of Premium ("ROP") [7] /Other	8,899		52		50		71
Subtotal Variable Annuity with GMDB/GMWB [10]	$	40,823	$	2,929	$	567	71
Less: General Account Value with GMDB/GMWB	3,615
Subtotal Separate Account Liabilities with GMDB	37,208
Separate Account Liabilities without GMDB	78,626
Total Separate Account Liabilities	$	115,834

Schedule of Net Amount of Risk by Product and Guarantee [Table Text Block]



Account Value by GMDB/GMWB Type as of December 31, 2017
	Account Value (“AV”) [8]		Net amount at Risk (“NAR”) [9]		Retained Net Amount at Risk (“RNAR”) [9]		Weighted Average Attained Age of Annuitant
MAV [1]
MAV only	$	13,769	$	1,995	$	300	71
With 5% rollup [2]	1,152		131		41		72
With Earnings Protection Benefit Rider (“EPB”) [3]	3,498		541		82		71
With 5% rollup & EPB	477		108		23		73
Total MAV	18,896		2,775		446
Asset Protection Benefit ("APB") [4]	10,107		92		62		70
Lifetime Income Benefit ("LIB") – Death Benefit [5]	452		4		4		71
Reset [6] (5-7 years)	2,469		6		5		70
Return of Premium ("ROP") [7] /Other	8,899		52		50		71
Subtotal Variable Annuity with GMDB/GMWB [10]	$	40,823	$	2,929	$	567	71
Less: General Account Value with GMDB/GMWB	3,615
Subtotal Separate Account Liabilities with GMDB	37,208
Separate Account Liabilities without GMDB	78,626
Total Separate Account Liabilities	$	115,834


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


[2]	Rollup 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 years or 100% of adjusted premiums.


[3]	EPB GMDB is the greatest of the MAV, current AV, or contract value plus a percentage of the contract’s growth. The contract’s growth is AV less premiums net of withdrawals, subject to a cap of 200% of premiums net 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 generally based on market performance that ratchets over time.


[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 years (adjusted for withdrawals).


[7]	ROP 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 minimum death benefit in excess of the current AV. RNAR represents NAR reduced for reinsurance. NAR and RNAR are highly sensitive to equity market movements and increase when equity markets decline.

[10]

Some variable annuity contracts with GMDB also have a life-contingent GMWB that may provide for benefits in excess of the return of the GRB. Such contracts included in this amount have $6.2 billion of total account value and weighted average attained age of 73 years. There is no NAR or retained NAR related to these contracts. Includes $1.9 billion of account value for contracts that had a GMDB at issue but no longer have a GMDB due to certain elections made by policyholders or their beneficiaries.

Schedule of Fair Value of Separate Accounts by Major Category of Investment [Table Text Block]



Account Balance Breakdown of Variable Separate Account Investments for Contracts with Guarantees
Asset type	December 31, 2017		December 31, 2016
Equity securities (including mutual funds)	$	34,496	$	33,880
Cash and cash equivalents	2,712		3,045
Total	$	37,208	$	36,925