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GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES (Tables)
 9 Months Ended
Sep. 30, 2016
Variable Annuity Contracts-GMDB GMIB And GWBL [Abstract]  
GMDB and GMIB Liabilities and Other Policyholder's Liabilities
The following table summarizes the GMDB and GMIB liabilities, before reinsurance ceded, reflected in the Balance Sheet in future policy benefits and other policyholders’ liabilities:
 
GMDB    
 
GMIB    
 
Total    
 
(In Millions)
Balance at January 1, 2016
$
2,986

 
$
5,297

 
$
8,283

Paid guarantee benefits
(280
)
 
(249
)
 
(529
)
Other changes in reserve
491

 
1,170

 
1,661

Balance at September 30, 2016
$
3,197

 
$
6,218

 
$
9,415

Balance at January 1, 2015
$
1,729

 
$
5,644

 
$
7,373

Paid guarantee benefits
(229
)
 
(45
)
 
(274
)
Other changes in reserve
413

 
784

 
1,197

Balance at September 30, 2015
$
1,913

 
$
6,383

 
$
8,296
GMDB Reinsurance Ceded
Related GMDB reinsurance ceded amounts were:
 
Nine Months Ended September 30,
 
2016
 
2015
 
(In Millions)
Balance, beginning of year
$
1,430

 
$
832

Paid guarantee benefits
(137
)
 
(108
)
Other changes in reserve
253

 
193

Balance, End of Period
$
1,546

 
$
917
Variable Annuity Contracts with GMDB and GMIB Features
The September 30, 2016 values for variable annuity contracts in-force on such date with GMDB and GMIB features are presented in the following table. For contracts with the GMDB feature, the net amount at risk in the event of death is the amount by which the GMDB benefits exceed related account values. For contracts with the GMIB feature, the net amount at risk in the event of annuitization is the amount by which the present value of the GMIB benefits exceeds related account values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB guarantees may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive:

 
Return of
Premium
 
Ratchet
 
Roll-Up
 
Combo
 
Total
 
(Dollars In Millions)
GMDB:
 
 
 
 
 
 
 
 
 
Account values invested in:
 
 
 
 
 
 
 
 
 
General Account
$
13,552

 
$
124

 
$
74

 
$
233

 
$
13,983

Separate Accounts
$
40,144

 
$
8,857

 
$
3,420

 
$
33,935

 
$
86,356

Net amount at risk, gross
$
252

 
$
190

 
$
2,318

 
$
16,366

 
$
19,126

Net amount at risk, net of amounts reinsured
$
252

 
$
133

 
$
1,576

 
$
7,021

 
$
8,982

Average attained age of contractholders
51.3

 
65.7

 
72.2

 
66.9

 
55.2

Percentage of contractholders over age 70
9.2
%
 
36.6
%
 
59.7
%
 
40.0
%
 
17.1
%
Range of contractually specified interest rates
N/A

 
N/A

 
3%-6%

 
3%-6.5%

 
3%-6.5%

GMIB:
 
 
 
 
 
 
 
 
 
Account values invested in:
 
 
 
 
 
 
 
 
 
General Account
N/A

 
N/A

 
$
35

 
$
335

 
$
370

Separate Accounts
N/A

 
N/A

 
$
17,592

 
$
39,968

 
$
57,560

Net amount at risk, gross
N/A

 
N/A

 
$
1,322

 
$
8,850

 
$
10,172

Net amount at risk, net of amounts reinsured
N/A

 
N/A

 
$
406

 
$
2,289

 
$
2,695

Weighted average years remaining until annuitization
N/A

 
N/A

 
1.6

 
1.4

 
1.4

Range of contractually specified interest rates
N/A

 
N/A

 
3%-6%

 
3%-6.5%

 
3%-6.5%
Investment in Variable Insurance Trust Mutual Funds
The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB benefits and guarantees. The investment performance of the assets impacts the related account values and, consequently, the net amount of risk associated with the GMDB and GMIB benefits and guarantees. Since variable annuity contracts with GMDB benefits and guarantees may also offer GMIB benefits and guarantees in each contract, the GMDB and GMIB amounts listed are not mutually exclusive:

Investment in Variable Insurance Trust Mutual Funds

 
September 30,
2016
 
December 31,
2015
 
(In Millions)
GMDB:
 
 
 
Equity
$
68,655

 
$
66,230

Fixed income
2,630

 
2,686

Balanced
14,718

 
15,350

Other
353

 
374

Total
$
86,356

 
$
84,640

GMIB:
 
 
 
Equity
$
45,339

 
$
43,874

Fixed income
1,772

 
1,819

Balanced
10,296

 
10,696

Other
153

 
170

Total
$
57,560

 
$
56,559
Summary of no-Lapse Guarantee Liabilities and Other Policyholder's Liabilities
The following table summarizes the no lapse guarantee liabilities reflected in the Balance Sheet in Future policy benefits and other policyholders’ liabilities and the related reinsurance ceded:

 
Direct
Liability
 
Reinsurance
Ceded
 
Net    
 
(In Millions)
Balance at January 1, 2016
$
1,084

 
$
(539
)
 
$
545

Other changes in reserves
36

 
(66
)
 
(30
)
Balance at September 30, 2016
$
1,120

 
$
(605
)
 
$
515

Balance at January 1, 2015
$
964

 
$
(555
)
 
$
409

Other changes in reserves
116

 
38

 
154

Balance at September 30, 2015
$
1,080

 
$
(517
)
 
$
563