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GMDB, GMIB, GIB, GWBL AND OTHER FEATURES AND NO LAPSE GUARANTEE FEATURES (Tables)
 3 Months Ended
Mar. 31, 2017
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, 2017
$
3,212

 
$
5,577

 
$
8,789

Paid guarantee benefits
(89
)
 
(34
)
 
(123
)
Other changes in reserve
140

 
210

 
350

Balance at March 31, 2017
$
3,263

 
$
5,753

 
$
9,016

Balance at January 1, 2016
$
2,986

 
$
5,297

 
$
8,283

Paid guarantee benefits
(97
)
 
(188
)
 
(285
)
Other changes in reserve
195

 
509

 
704

Balance at March 31, 2016
$
3,084

 
$
5,618

 
$
8,702
GMDB Reinsurance Ceded
Related GMDB reinsurance ceded amounts were:
 
Three Months Ended March 31,
 
2017
 
2016
 
(In Millions)
Balance, beginning of year
$
1,558

 
$
1,430

Paid guarantee benefits
(43
)
 
(47
)
Other changes in reserve
69

 
116

Balance, End of Period
$
1,584

 
$
1,499
Variable Annuity Contracts with GMDB and GMIB Features
The March 31, 2017 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
$
13,723

 
$
118

 
$
71

 
$
216

 
$
14,128

Separate Accounts
$
42,157

 
$
9,135

 
$
3,452

 
$
34,569

 
$
89,313

Net amount at risk, gross
$
201

 
$
91

 
$
2,183

 
$
16,136

 
$
18,611

Net amount at risk, net of amounts reinsured
$
201

 
$
63

 
$
1,498

 
$
6,833

 
$
8,595

Average attained age of contractholders
51.3

 
66.0

 
72.5

 
67.7

 
55.1

Percentage of contractholders over age 70
9.4
%
 
37.7
%
 
61.0
%
 
43.9
%
 
17.5
%
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

 
$
30

 
$
315

 
$
345

Separate Accounts
N/A

 
N/A

 
$
18,996

 
$
40,297

 
$
59,293

Net amount at risk, gross
N/A

 
N/A

 
$
1,034

 
$
6,526

 
$
7,560

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

 
N/A

 
$
319

 
$
1,627

 
$
1,946

Weighted average years remaining until annuitization
N/A

 
N/A

 
1.6

 
1.1

 
1.2

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

 
March 31,
2017
 
December 31,
2016
 
(In Millions)
GMDB:
 
 
 
Equity
$
71,981

 
$
69,625

Fixed income
2,450

 
2,483

Balanced
14,547

 
14,434

Other
335

 
348

Total
$
89,313

 
$
86,890

GMIB:
 
 
 
Equity
$
47,357

 
$
45,931

Fixed income
1,647

 
1,671

Balanced
10,140

 
10,097

Other
149

 
149

Total
$
59,293

 
$
57,848
Summary of no-Lapse Guarantee Liabilities and Other Policyholder's Liabilities
The following table summarizes the no lapse guarantee liabilities reflected in the General Account in Future policy benefits and other policyholders’ liabilities, the related reinsurance reserve ceded, reflected in Amounts due from reinsurers and deferred cost of reinsurance, reflected in Other assets in the Consolidated balance sheets.

 
Direct
Liability
 
Reinsurance
Ceded
 
Net    
 
(In Millions)
Balance at January 1, 2017
$
1,202

 
$
(623
)
 
$
579

Other changes in reserves
33

 
3

 
36

Balance at March 31, 2017
$
1,235

 
$
(620
)
 
$
615

Balance at January 1, 2016
$
1,084

 
$
(539
)
 
$
545

Other changes in reserves
50

 
(22
)
 
28

Balance at March 31, 2016
$
1,134

 
$
(561
)
 
$
573