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POLICY LIABILITIES - Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits (Details) - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Dec. 31, 2021
Present value of expected future policy benefits:      
Beginning balance $ 141,463    
Ending balance 136,089 $ 141,463  
Net liability for future policy benefits 85,904 88,241  
Cancer | Aflac Japan      
Present value of expected premiums:      
Beginning balance 19,298 25,893  
Beginning balance at original discount rate 18,221 22,470  
Effect of changes in cash flow assumptions   0 $ (639)
Effect of actual variances from expected experience   (198) (284)
Adjusted beginning of period balance   18,023 21,547
Issuances 498 947  
Interest accrual 218 459  
Net premium earned [1] (824) (1,734)  
Foreign currency translation (1,521) (2,997)  
Other 0 (1)  
Ending balance at original discount rate 16,394 18,221 22,470
Effect of changes in discount rate assumptions 1,579 1,077  
Ending balance 17,973 19,298 25,893
Present value of expected future policy benefits:      
Beginning balance 54,766 72,747  
Beginning balance at original discount rate 47,677 56,807  
Effect of changes in cash flow assumptions   0 (721)
Effect of actual variances from expected experience   (232) (333)
Adjusted beginning of period balance   47,445 55,753
Issuances 509 960  
Interest accrual 779 1,599  
Benefit payments (1,592) (3,050)  
Foreign currency translation (4,000) (7,585)  
Other 0 0  
Ending balance at original discount rate 43,141 47,677 56,807
Effect of changes in discount rate assumptions 8,551 7,089  
Ending balance 51,692 54,766 72,747
Net liability for future policy benefits 33,719 35,468  
Less: reinsurance recoverable 2,130 0  
Net liability for future policy benefits after reinsurance recoverable 31,589 35,468  
Medical and other health | Aflac Japan      
Present value of expected premiums:      
Beginning balance 16,714 21,174  
Beginning balance at original discount rate 16,195 18,681  
Effect of changes in cash flow assumptions   0 317
Effect of actual variances from expected experience   (61) 61
Adjusted beginning of period balance   16,134 19,059
Issuances 204 639  
Interest accrual 180 364  
Net premium earned [1] (673) (1,376)  
Foreign currency translation (1,348) (2,488)  
Other 0 (3)  
Ending balance at original discount rate 14,497 16,195 18,681
Effect of changes in discount rate assumptions 1,135 519  
Ending balance 15,632 16,714 21,174
Present value of expected future policy benefits:      
Beginning balance 27,419 36,021  
Beginning balance at original discount rate 27,566 31,398  
Effect of changes in cash flow assumptions   0 352
Effect of actual variances from expected experience   (65) 83
Adjusted beginning of period balance   27,501 31,833
Issuances 211 646  
Interest accrual 323 642  
Benefit payments (647) (1,375)  
Foreign currency translation (2,323) (4,180)  
Other 0 0  
Ending balance at original discount rate 25,065 27,566 31,398
Effect of changes in discount rate assumptions 1,462 (147)  
Ending balance 26,527 27,419 36,021
Net liability for future policy benefits 10,895 10,705  
Less: reinsurance recoverable 1,580 1,579  
Net liability for future policy benefits after reinsurance recoverable 9,315 9,126  
Life insurance | Aflac Japan      
Present value of expected premiums:      
Beginning balance 7,485 10,847  
Beginning balance at original discount rate 7,284 10,064  
Effect of changes in cash flow assumptions   0 (494)
Effect of actual variances from expected experience   (22) (81)
Adjusted beginning of period balance   7,262 9,489
Issuances 198 221  
Interest accrual 66 146  
Net premium earned [1] (549) (1,229)  
Foreign currency translation (597) (1,343)  
Other 0 0  
Ending balance at original discount rate 6,380 7,284 10,064
Effect of changes in discount rate assumptions 335 201  
Ending balance 6,715 7,485 10,847
Present value of expected future policy benefits:      
Beginning balance 31,954 42,720  
Beginning balance at original discount rate 32,800 39,002  
Effect of changes in cash flow assumptions   0 (550)
Effect of actual variances from expected experience   (26) (91)
Adjusted beginning of period balance   32,774 38,361
Issuances 201 222  
Interest accrual 329 670  
Benefit payments (808) (1,248)  
Foreign currency translation (2,759) (5,205)  
Other 0 0  
Ending balance at original discount rate 29,737 32,800 39,002
Effect of changes in discount rate assumptions 670 (846)  
Ending balance 30,407 31,954 42,720
Net liability for future policy benefits 23,692 24,469  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 23,692 24,469  
Life insurance | Aflac U.S.      
Present value of expected premiums:      
Beginning balance 724 834  
Beginning balance at original discount rate 799 780  
Effect of changes in cash flow assumptions   0 (1)
Effect of actual variances from expected experience   (9) (16)
Adjusted beginning of period balance   790 763
Issuances 90 146  
Interest accrual 14 27  
Net premium earned [1] (65) (131)  
Foreign currency translation 0 0  
Other 2 (6)  
Ending balance at original discount rate 831 799 780
Effect of changes in discount rate assumptions (68) (75)  
Ending balance 763 724 834
Present value of expected future policy benefits:      
Beginning balance 1,526 1,843  
Beginning balance at original discount rate 1,778 1,694  
Effect of changes in cash flow assumptions   0 (1)
Effect of actual variances from expected experience   (12) (21)
Adjusted beginning of period balance   1,766 1,672
Issuances 94 149  
Interest accrual 33 62  
Benefit payments (56) (103)  
Foreign currency translation 0 0  
Other 4 (2)  
Ending balance at original discount rate 1,841 1,778 1,694
Effect of changes in discount rate assumptions (228) (252)  
Ending balance 1,613 1,526 1,843
Net liability for future policy benefits 850 802  
Less: reinsurance recoverable 11 9  
Net liability for future policy benefits after reinsurance recoverable 839 793  
Accident | Aflac U.S.      
Present value of expected premiums:      
Beginning balance 2,534 3,283  
Beginning balance at original discount rate 2,760 2,999  
Effect of changes in cash flow assumptions   0 (52)
Effect of actual variances from expected experience   (51) (152)
Adjusted beginning of period balance   2,709 2,795
Issuances 185 355  
Interest accrual 51 105  
Net premium earned [1] (237) (496)  
Foreign currency translation 0 0  
Other (3) 1  
Ending balance at original discount rate 2,705 2,760 2,999
Effect of changes in discount rate assumptions (201) (226)  
Ending balance 2,504 2,534 3,283
Present value of expected future policy benefits:      
Beginning balance 3,098 3,949  
Beginning balance at original discount rate 3,391 3,594  
Effect of changes in cash flow assumptions   0 (70)
Effect of actual variances from expected experience   (65) (177)
Adjusted beginning of period balance   3,326 3,347
Issuances 194 364  
Interest accrual 63 128  
Benefit payments (225) (456)  
Foreign currency translation 0 0  
Other 0 8  
Ending balance at original discount rate 3,358 3,391 3,594
Effect of changes in discount rate assumptions (264) (293)  
Ending balance 3,094 3,098 3,949
Net liability for future policy benefits 590 564  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 590 564  
Disability | Aflac U.S.      
Present value of expected premiums:      
Beginning balance 1,635 1,862  
Beginning balance at original discount rate 1,775 1,760  
Effect of changes in cash flow assumptions   0 5
Effect of actual variances from expected experience   (15) (43)
Adjusted beginning of period balance   1,760 1,722
Issuances 204 384  
Interest accrual 30 57  
Net premium earned [1] (193) (382)  
Foreign currency translation 0 0  
Other (3) (6)  
Ending balance at original discount rate 1,798 1,775 1,760
Effect of changes in discount rate assumptions (129) (140)  
Ending balance 1,669 1,635 1,862
Present value of expected future policy benefits:      
Beginning balance 2,445 2,871  
Beginning balance at original discount rate 2,636 2,670  
Effect of changes in cash flow assumptions   0 5
Effect of actual variances from expected experience   (23) (48)
Adjusted beginning of period balance   2,613 2,627
Issuances 212 397  
Interest accrual 48 94  
Benefit payments (233) (483)  
Foreign currency translation 0 0  
Other 0 1  
Ending balance at original discount rate 2,640 2,636 2,670
Effect of changes in discount rate assumptions (176) (191)  
Ending balance 2,464 2,445 2,871
Net liability for future policy benefits 795 810  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 795 810  
Critical Care | Aflac U.S.      
Present value of expected premiums:      
Beginning balance 4,486 6,023  
Beginning balance at original discount rate 5,050 5,391  
Effect of changes in cash flow assumptions   0 (38)
Effect of actual variances from expected experience   (139) (421)
Adjusted beginning of period balance   4,911 4,932
Issuances 291 537  
Interest accrual 94 193  
Net premium earned [1] (298) (612)  
Foreign currency translation 0 0  
Other (2) 0  
Ending balance at original discount rate 4,996 5,050 5,391
Effect of changes in discount rate assumptions (497) (564)  
Ending balance 4,499 4,486 6,023
Present value of expected future policy benefits:      
Beginning balance 11,489 15,388  
Beginning balance at original discount rate 12,846 13,079  
Effect of changes in cash flow assumptions   0 (43)
Effect of actual variances from expected experience   (166) (465)
Adjusted beginning of period balance   12,680 12,571
Issuances 302 550  
Interest accrual 267 539  
Benefit payments (446) (823)  
Foreign currency translation 0 0  
Other 0 9  
Ending balance at original discount rate 12,803 12,846 13,079
Effect of changes in discount rate assumptions (1,166) (1,357)  
Ending balance 11,637 11,489 15,388
Net liability for future policy benefits 7,138 7,003  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 7,138 7,003  
Hospital Indemnity | Aflac U.S.      
Present value of expected premiums:      
Beginning balance 1,220 1,467  
Beginning balance at original discount rate 1,365 1,380  
Effect of changes in cash flow assumptions   0 42
Effect of actual variances from expected experience   (44) (111)
Adjusted beginning of period balance   1,321 1,311
Issuances 153 273  
Interest accrual 23 45  
Net premium earned [1] (127) (261)  
Foreign currency translation 0 0  
Other (1) (3)  
Ending balance at original discount rate 1,369 1,365 1,380
Effect of changes in discount rate assumptions (129) (145)  
Ending balance 1,240 1,220 1,467
Present value of expected future policy benefits:      
Beginning balance 2,074 2,552  
Beginning balance at original discount rate 2,300 2,300  
Effect of changes in cash flow assumptions   0 40
Effect of actual variances from expected experience   (58) (130)
Adjusted beginning of period balance   2,242 2,210
Issuances 162 282  
Interest accrual 43 85  
Benefit payments (137) (277)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 2,310 2,300 2,300
Effect of changes in discount rate assumptions (201) (226)  
Ending balance 2,109 2,074 2,552
Net liability for future policy benefits 869 854  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 869 854  
Dental/Vision | Aflac U.S.      
Present value of expected premiums:      
Beginning balance 211 264  
Beginning balance at original discount rate 231 241  
Effect of changes in cash flow assumptions   0 10
Effect of actual variances from expected experience   (11) (20)
Adjusted beginning of period balance   220 231
Issuances 20 33  
Interest accrual 4 9  
Net premium earned [1] (20) (42)  
Foreign currency translation 0 0  
Other 2 0  
Ending balance at original discount rate 226 231 241
Effect of changes in discount rate assumptions (17) (20)  
Ending balance 209 211 264
Present value of expected future policy benefits:      
Beginning balance 488 616  
Beginning balance at original discount rate 532 549  
Effect of changes in cash flow assumptions   0 13
Effect of actual variances from expected experience   (14) (23)
Adjusted beginning of period balance   518 539
Issuances 23 34  
Interest accrual 10 21  
Benefit payments (30) (62)  
Foreign currency translation 0 0  
Other 2 0  
Ending balance at original discount rate 523 532 549
Effect of changes in discount rate assumptions (39) (44)  
Ending balance 484 488 616
Net liability for future policy benefits 275 277  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 275 277  
Other | Aflac Japan      
Present value of expected premiums:      
Beginning balance 1,256 1,586  
Beginning balance at original discount rate 1,242 1,461  
Effect of changes in cash flow assumptions   0 25
Effect of actual variances from expected experience   (5) (10)
Adjusted beginning of period balance   1,237 1,476
Issuances 14 62  
Interest accrual 11 22  
Net premium earned [1] (60) (123)  
Foreign currency translation (104) (195)  
Other 0 0  
Ending balance at original discount rate 1,098 1,242 1,461
Effect of changes in discount rate assumptions 47 14  
Ending balance 1,145 1,256 1,586
Present value of expected future policy benefits:      
Beginning balance 5,582 7,322  
Beginning balance at original discount rate 5,940 6,787  
Effect of changes in cash flow assumptions   0 96
Effect of actual variances from expected experience   (2) (10)
Adjusted beginning of period balance   5,938 6,873
Issuances 17 68  
Interest accrual 53 106  
Benefit payments (107) (202)  
Foreign currency translation (500) (905)  
Other 0 0  
Ending balance at original discount rate 5,401 5,940 6,787
Effect of changes in discount rate assumptions (25) (358)  
Ending balance 5,376 5,582 7,322
Net liability for future policy benefits 4,231 4,326  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 4,231 4,326  
Other | Aflac U.S.      
Present value of expected premiums:      
Beginning balance 110 153  
Beginning balance at original discount rate 118 135  
Effect of changes in cash flow assumptions   0 (12)
Effect of actual variances from expected experience   0 6
Adjusted beginning of period balance   118 129
Issuances 55 0  
Interest accrual 3 5  
Net premium earned [1] (8) (17)  
Foreign currency translation 0 0  
Other 9 1  
Ending balance at original discount rate 177 118 135
Effect of changes in discount rate assumptions (8) (8)  
Ending balance 169 110 153
Present value of expected future policy benefits:      
Beginning balance 622 837  
Beginning balance at original discount rate 624 645  
Effect of changes in cash flow assumptions   0 (15)
Effect of actual variances from expected experience   (1) 7
Adjusted beginning of period balance   623 637
Issuances 55 0  
Interest accrual 16 32  
Benefit payments (23) (45)  
Foreign currency translation 0 0  
Other 9 0  
Ending balance at original discount rate 680 624 645
Effect of changes in discount rate assumptions 6 (2)  
Ending balance 686 622 $ 837
Net liability for future policy benefits 517 512  
Less: reinsurance recoverable 1 0  
Net liability for future policy benefits after reinsurance recoverable $ 516 $ 512  
[1] Net premiums earned represent the portion of gross premiums collected from policyholders that is used to fund expected benefit payments.