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POLICY LIABILITIES (Tables) | 9 Months Ended
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Sep. 30, 2021
Insurance Loss Reserves [Abstract] |
Schedule of Liability for Unpaid Claims Adjustment Expense | Changes in the liability for unpaid policy claims were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
(In millions) |  | 2021 |  | 2020 |  |  |  | 2021 |  | 2020 |  |
Unpaid supplemental health claims, beginning of period |  | $ | 4,162 |  |  | $ | 4,041 |  |  |  |  | $ | 4,389 |  |  | $ | 3,968 |  |  |
Less reinsurance recoverables |  | 37 |  |  | 37 |  |  |  |  | 39 |  |  | 31 |  |  |
Net balance, beginning of period |  | 4,125 |  |  | 4,004 |  |  |  |  | 4,350 |  |  | 3,937 |  |  |
Add claims incurred during the period related to: |  |  |  |  |  |  |  |  |  |  |  |
Current year |  | 1,720 |  |  | 1,780 |  |  |  |  | 5,302 |  |  | 5,354 |  |  |
Prior years |  | (215) |  |  | (105) |  |  |  |  | (739) |  |  | (408) |  |  |
Total incurred |  | 1,505 |  |  | 1,675 |  |  |  |  | 4,563 |  |  | 4,946 |  |  |
Less claims paid during the period on claims incurred during: |  |  |  |  |  |  |  |  |  |  |  |
Current year |  | 1,279 |  |  | 1,295 |  |  |  |  | 2,947 |  |  | 2,971 |  |  |
Prior years |  | 219 |  |  | 249 |  |  |  |  | 1,676 |  |  | 1,811 |  |  |
Total paid |  | 1,498 |  |  | 1,544 |  |  |  |  | 4,623 |  |  | 4,782 |  |  |
Effect of foreign exchange rate changes on unpaid claims |  | (29) |  |  | 42 |  |  |  |  | (187) |  |  | 76 |  |  |
Net balance, end of period |  | 4,103 |  |  | 4,177 |  |  |  |  | 4,103 |  |  | 4,177 |  |  |
Add reinsurance recoverables |  | 39 |  |  | 40 |  |  |  |  | 39 |  |  | 40 |  |  |
Unpaid supplemental health claims, end of period |  | 4,142 |  |  | 4,217 |  |  |  |  | 4,142 |  |  | 4,217 |  |  |
Unpaid life claims, end of period |  | 767 |  |  | 759 |  |  |  |  | 767 |  |  | 759 |  |  |
Total liability for unpaid policy claims |  | $ | 4,909 |  |  | $ | 4,976 |  |  |  |  | $ | 4,909 |  |  | $ | 4,976 |  |  |

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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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