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POLICY LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2019
Insurance Loss Reserves [Abstract] |
Liability for Future Policy Benefits by Product Segment | The liability for future policy benefits as of December 31 consisted of the following:
|  | Liability Amounts |  |  | Interest Rate Assumptions |  |
(In millions) |  | 2019 |  | 2018 |  |  |  |
Health insurance |  |  |  |  |  |  |  |  |
Japan |  | $ | 50,941 |  |  | $ | 49,496 |  |  |  | 0.6 - 6.75 | % |
U.S. |  | 8,646 |  |  | 8,442 |  |  |  | 3.0 - 7.0 |  |
Intercompany eliminations |  | (532 | ) | (1) | (583 | ) | (1) |  | 2.0 |  |
Life insurance |  |  |  |  |  |  |  |  |
Japan |  | 30,520 |  |  | 28,318 |  |  |  | 1.0 - 4.5 |  |
U.S. |  | 760 |  |  | 695 |  |  |  | 2.5 - 6.0 |  |
Total |  | $ | 90,335 |  |  | $ | 86,368 |  |  |  |  |  |
(1) Elimination entry necessary due to recapture of a portion of policy liabilities ceded externally, as a result of the reinsurance retrocession transaction as described in Note 8 of the Notes to the Consolidated Financial Statements
Schedule of Liability for Unpaid Claims Adjustment Expense | Changes in the liability for unpaid policy claims were as follows for the years ended December 31:
(In millions) | 2019 |  | 2018 |  | 2017
Unpaid supplemental health claims, beginning of period |  | $ | 3,952 |  |  |  |  | $ | 3,884 |  |  |  |  | $ | 3,707 |  |
Less reinsurance recoverables |  | 27 |  |  |  |  | 30 |  |  |  |  | 27 |  |
Net balance, beginning of period |  | 3,925 |  |  |  |  | 3,854 |  |  |  |  | 3,680 |  |
Add claims incurred during the period related to: |  |  |  |  |  |  |  |  |  |  |
Current year |  | 7,216 |  |  |  |  | 7,101 |  |  |  |  | 6,979 |  |
Prior years |  | (552 | ) |  |  |  | (563 | ) |  |  |  | (518 | ) |
Total incurred |  | 6,664 |  |  |  |  | 6,538 |  |  |  |  | 6,461 |  |
Less claims paid during the period on claims incurred during: |  |  |  |  |  |  |  |  |  |  |
Current year |  | 4,715 |  |  |  |  | 4,612 |  |  |  |  | 4,530 |  |
Prior years |  | 1,965 |  |  |  |  | 1,898 |  |  |  |  | 1,822 |  |
Total paid |  | 6,680 |  |  |  |  | 6,510 |  |  |  |  | 6,352 |  |
Effect of foreign exchange rate changes on unpaid claims |  | 29 |  |  |  |  | 43 |  |  |  |  | 65 |  |
Net balance, end of period |  | 3,938 |  |  |  |  | 3,925 |  |  |  |  | 3,854 |  |
Add reinsurance recoverables |  | 30 |  |  |  |  | 27 |  |  |  |  | 30 |  |
Unpaid supplemental health claims, end of period |  | 3,968 |  |  |  |  | 3,952 |  |  |  |  | 3,884 |  |
Unpaid life claims, end of period |  | 691 |  |  |  |  | 632 |  |  |  |  | 508 |  |
Total liability for unpaid policy claims |  | $ | 4,659 |  |  |  |  | $ | 4,584 |  |  |  |  | $ | 4,392 |  |

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- Definition The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(13)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details
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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 + Details
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