Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

Income tax expense (benefit), continuing operations

		For the Years Ended December 31,
		2011		2010		2009
Current		$	16	$	(138)	$	(751)
Deferred			281		421		645
	Federal income tax expense (benefit)	$	297	$	283	$	(106)

Reconciliation of effective tax rate differences

			For the Years Ended December 31,
			2011			2010			2009
Tax rate times pre-tax income			$	210		$	432		$	(182)
Effect of:
	Tax-preferred investment income			(122)			(105)			(92)
	Tax credits			(42)			(42)			(46)
	Goodwill			261			-			238
	Prior year tax return adjustment			(28)			(12)			(60)
	Other items			18			10			36
		Federal income tax expense (benefit)	$	297		$	283		$	(106)
Effective tax rate				50	%		23	%		20	%

Federal income tax asset (liability)

		As of December 31,
		2011		2010
Current		$	(241)	$	(182)
Deferred			(2,432)		(1,221)
	Total federal income tax asset (liability)	$	(2,673)	$	(1,403)

Significant components of deferred tax assets and liabilities

			As of December 31,
			2011		2010
Deferred Tax Assets
Future contract benefits and other contract holder funds			$	909	$	1,400
Deferred gain on business sold through reinsurance				122		160
Reinsurance related embedded derivative asset				59		22
Investments				489		401
Compensation and benefit plans				304		272
Net operating loss				23		-
Net capital loss				59		97
Tax credits				208		105
VIE				98		77
Other				202		108
	Total deferred tax assets			2,473		2,642
Deferred Tax Liabilities
DAC				1,823		1,977
VOBA				370		483
Net unrealized gain on AFS securities				2,259		1,014
Net unrealized gain on trading securities				131		90
Intangibles				160		165
Other				162		134
	Total deferred tax liabilities			4,905		3,863
		Net deferred tax asset (liability)	$	(2,432)	$	(1,221)

Reconciliation of unrecognized tax benefits

			For the
			Years Ended
			December 31,
			2011		2010
Balance as of beginning-of-year			$	318	$	336
	Increases for prior year tax positions			2		2
	Decreases for prior year tax positions			(10)		(7)
	Increases for current year tax positions			12		9
	Decreases for current year tax positions			(6)		(8)
	Decreases for settlements with taxing authorities			-		(10)
	Decreases for lapse of statute of limitations			-		(4)
		Balance as of end-of-year	$	316	$	318