UNPAID CLAIM AND CLAIM EXPENSES (Tables)

12 Months Ended

Dec. 31, 2021

Insurance [Abstract]

Schedules of Liability for Unpaid Claims and Claims Adjustment Expense

The liability for unpaid claims and claim expenses as of December 31, 2021 and 2020 is as follows:

Liability for Unpaid Claims and Claim Expenses

	December 31
	2021		2020
	(in millions)
Gross Balance at January 1,	40		29
Less Reinsurance	15		12
Net Balance at January 1,	25		17
Incurred Claims (net) Related to:
Current Year	139		78
Prior Year	11		(3)
Total Incurred	150		75
Paid Claims (net) Related to:
Current Year	101		57
Prior Year	19		10
Total Paid	120		67
Net Balance at December 31,	55		25
Add Reinsurance	23		15
Gross Balance at December 31,	$	78	$	40

The following table reconciles the long-term disability net incurred claims development table to the liability for unpaid claims and claim expenses in the Company’s balance sheet as of December 31, 2021 and 2020:

	December 31,
	2021		2020
	(in millions)
Long-Term Disability Claim Development Table, net of reinsurance
Undiscounted LTD Incurred Claims, net of reinsurance	$	35	$	22
Subtract Cumulative LTD Paid Claims, net of reinsurance	(12)		(7)
Subtract Impact of LTD Discounting, net of reinsurance	(3)		(2)
LTD liabilities for unpaid claim and claim expense, net of reinsurance	20		13
Unpaid Claims and Claim Expenses, net of reinsurance
LTD liabilities for unpaid claim and claim expense, net of reinsurance	20		13
Other short-duration contracts, net of reinsurance	35		12
Total liabilities for unpaid claim and claim expense, net of reinsurance	55		25
Reinsurance Recoverable on unpaid claims
Long-term disability	21		13
Other short-duration contracts	2		2
Total Reinsurance Recoverable	23		15
Total liability for unpaid claim and claim expense	$	78	$	40

Long-Term Disability Development Tables

The table below presents incurred claims development as of December 31, 2021, net of reinsurance, cumulative claims frequency, and the total incurred but not reported liability (“IBNR”) for Equitable America’s long-term disability business:

	2021		2020		2019		2018		2017		IBNR		Claim Frequency
	(in millions)
Long-term Disability
Incurral Year
2017	$	1	$	2	$	2	$	2	$	2			113
2018	4		4		4		5						191
2019	5		6		7								265
2020	9		10										371
2021	16										5		391
Cumulative LTD Incurred Claims	$	35	$	22	$	13	$	7	$	2	$	5

The table below presents incurred claims development as of December 31, 2020, net of reinsurance, cumulative claims frequency, and total IBNR for Equitable America's long-term disability business:

	2020		2019		2018		2017		IBNR		Claim Frequency
Long-term Disability
Incurral Year
2017	$	2	$	2	$	2	$	2			113
2018	4		4		5						191
2019	6		7								265
2020	10								3		345
Cumulative LTD Incurred Claims	$	22	$	13	$	7	$	2	$	3