Policy Claims and Benefits (Tables)

9 Months Ended

Sep. 30, 2020

Insurance [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

The liability for unpaid claims is reported in future policy benefits and other policy claims and benefits on the Company’s condensed consolidated balance sheets. Activity associated with unpaid claims is summarized below (dollars in millions):

	Nine months ended September 30,
	2020			2019
Balance at beginning of year	$	6,786		$	6,585
Less: reinsurance recoverable	(564		)	(433		)
Net balance at beginning of year	6,222			6,152
Incurred:
Current year	8,382			8,204
Prior years	162			108
Total incurred	8,544			8,312
Payments:
Current year	(3,394		)	(2,937		)
Prior years	(4,683		)	(4,775		)
Total payments	(8,077		)	(7,712		)
Other changes:
Interest accretion	27			20
Foreign exchange adjustments	(28		)	(100		)
Total other changes	(1		)	(80		)
Net balance at end the period	6,688			6,672
Plus: reinsurance recoverable	627			508
Balance at end of the period	$	7,315		$	7,180