XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.25.2

POLICY LIABILITIES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Insurance Loss Reserves [Abstract] |
Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits | The following tables present the changes in the present value of expected future net premiums and the present value of expected future policy benefits by reporting segment and disaggregated by product type. The present value of expected future net premiums and the present value of expected future policy benefits are presented gross of internal and external ceded reinsurance.
| June 30, 2025
| Aflac Japan |  | Aflac U.S.
(In millions) | Cancer | Medical and Other Health | Life Insurance | Other |  | Accident | Disability | Critical Care | Hospital Indemnity | Dental/ Vision | Life Insurance | Other
Present value of expected future net premiums: |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2024 | $ | 14,184 |  | $ | 11,817 |  | $ | 5,156 |  | $ | 846 |  |  | $ | 2,497 |  | $ | 1,635 |  | $ | 3,901 |  | $ | 1,122 |  | $ | 196 |  | $ | 909 |  | $ | 826 |
Beginning balance at original discount rate | 14,008 |  | 11,845 |  | 5,084 |  | 864 |  |  | 2,687 |  | 1,726 |  | 4,340 |  | 1,221 |  | 209 |  | 976 |  | 824 |
Effect of changes in cash flow assumptions | 0 |  | 0 |  | 0 |  | 0 |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Effect of actual variances from expected experience | (62) |  | (75) |  | (23) |  | (4) |  |  | 1 |  | (11) |  | (9) |  | 6 |  | (6) |  | (14) |  | 43 |
Adjusted beginning of period balance | 13,946 |  | 11,770 |  | 5,061 |  | 860 |  |  | 2,688 |  | 1,715 |  | 4,331 |  | 1,227 |  | 203 |  | 962 |  | 867 |
Issuances | 489 |  | 143 |  | 210 |  | 5 |  |  | 169 |  | 194 |  | 308 |  | 128 |  | 29 |  | 127 |  | 305 |
Interest accrual | 186 |  | 147 |  | 56 |  | 8 |  |  | 55 |  | 34 |  | 89 |  | 24 |  | 4 |  | 20 |  | 26 |
Net premiums collected (1) | (717) |  | (547) |  | (409) |  | (48) |  |  | (242) |  | (201) |  | (294) |  | (125) |  | (20) |  | (85) |  | (52) |
Foreign currency translation | 1,292 |  | 1,085 |  | 464 |  | 79 |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Other | (1) |  | 0 |  | 0 |  | 0 |  |  | (3) |  | (2) |  | (3) |  | (2) |  | 0 |  | (2) |  | (24) |
Ending balance at original discount rate | 15,195 |  | 12,598 |  | 5,382 |  | 904 |  |  | 2,667 |  | 1,740 |  | 4,431 |  | 1,252 |  | 216 |  | 1,022 |  | 1,122 |
Effect of changes in discount rate assumptions | (463) |  | (616) |  | (76) |  | (50) |  |  | (143) |  | (59) |  | (364) |  | (77) |  | (9) |  | (45) |  | 38 |
Balance at June 30, 2025 | $ | 14,732 |  | $ | 11,982 |  | $ | 5,306 |  | $ | 854 |  |  | $ | 2,524 |  | $ | 1,681 |  | $ | 4,067 |  | $ | 1,175 |  | $ | 207 |  | $ | 977 |  | $ | 1,160 |
Present value of expected future policy benefits: |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2024 | $ | 40,781 |  | $ | 20,606 |  | $ | 24,265 |  | $ | 4,225 |  |  | $ | 3,127 |  | $ | 2,330 |  | $ | 10,701 |  | $ | 1,897 |  | $ | 441 |  | $ | 1,847 |  | $ | 1,288 |
Beginning balance at original discount rate | 37,856 |  | 21,957 |  | 26,330 |  | 4,765 |  |  | 3,386 |  | 2,466 |  | 12,013 |  | 2,073 |  | 477 |  | 2,126 |  | 1,293 |
Effect of changes in cash flow assumptions | 0 |  | 0 |  | 0 |  | 0 |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Effect of actual variances from expected experience | (86) |  | (90) |  | (21) |  | (7) |  |  | (1) |  | (22) |  | (21) |  | 2 |  | (7) |  | (22) |  | 43 |
Adjusted beginning of period balance | 37,770 |  | 21,867 |  | 26,309 |  | 4,758 |  |  | 3,385 |  | 2,444 |  | 11,992 |  | 2,075 |  | 470 |  | 2,104 |  | 1,336 |
Issuances | 495 |  | 146 |  | 212 |  | 7 |  |  | 173 |  | 204 |  | 322 |  | 132 |  | 29 |  | 133 |  | 304 |
Interest accrual | 660 |  | 282 |  | 286 |  | 46 |  |  | 68 |  | 49 |  | 259 |  | 43 |  | 10 |  | 43 |  | 38 |
Benefit payments | (1,364) |  | (517) |  | (973) |  | (107) |  |  | (272) |  | (237) |  | (492) |  | (161) |  | (30) |  | (54) |  | (94) |
Foreign currency translation | 3,490 |  | 2,020 |  | 2,417 |  | 439 |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Other | 0 |  | 0 |  | 0 |  | 0 |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Ending balance at original discount rate | 41,051 |  | 23,798 |  | 28,251 |  | 5,143 |  |  | 3,354 |  | 2,460 |  | 12,081 |  | 2,089 |  | 479 |  | 2,226 |  | 1,584 |
Effect of changes in discount rate assumptions | 675 |  | (3,134) |  | (3,800) |  | (888) |  |  | (200) |  | (93) |  | (1,139) |  | (142) |  | (27) |  | (246) |  | 38 |
Balance at June 30, 2025 | 41,726 |  | 20,664 |  | 24,451 |  | 4,255 |  |  | 3,154 |  | 2,367 |  | 10,942 |  | 1,947 |  | 452 |  | 1,980 |  | 1,622 |
Net liability for future policy benefits | 26,994 |  | 8,682 |  | 19,145 |  | 3,401 |  |  | 630 |  | 686 |  | 6,875 |  | 772 |  | 245 |  | 1,003 |  | 462 |
Less: reinsurance recoverable | 5,175 |  | 1,249 |  | 0 |  | 0 |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 22 |  | 0 |
Net liability for future policy benefits after reinsurance recoverable | $ | 21,819 |  | $ | 7,433 |  | $ | 19,145 |  | $ | 3,401 |  |  | $ | 630 |  | $ | 686 |  | $ | 6,875 |  | $ | 772 |  | $ | 245 |  | $ | 981 |  | $ | 462 |
(1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.
| December 31, 2024
| Aflac Japan |  | Aflac U.S.
(In millions) | Cancer | Medical and Other Health | Life Insurance | Other |  | Accident | Disability | Critical Care | Hospital Indemnity | Dental/ Vision | Life Insurance | Other
Present value of expected future net premiums: |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2023 | $ | 17,509 |  | $ | 14,697 |  | $ | 6,488 |  | $ | 1,088 |  |  | $ | 2,488 |  | $ | 1,652 |  | $ | 4,074 |  | $ | 1,107 |  | $ | 206 |  | $ | 853 |  | $ | 277 |
Beginning balance at original discount rate | 16,452 |  | 14,040 |  | 6,258 |  | 1,069 |  |  | 2,630 |  | 1,738 |  | 4,416 |  | 1,193 |  | 217 |  | 909 |  | 272 |
Effect of changes in cash flow assumptions | (625) |  | (154) |  | (190) |  | (19) |  |  | 65 |  | (47) |  | (106) |  | (21) |  | (17) |  | (5) |  | (8) |
Effect of actual variances from expected experience | (71) |  | (164) |  | (97) |  | (14) |  |  | 66 |  | 12 |  | (100) |  | 21 |  | (12) |  | (29) |  | 13 |
Adjusted beginning of period balance | 15,756 |  | 13,722 |  | 5,971 |  | 1,036 |  |  | 2,761 |  | 1,703 |  | 4,210 |  | 1,193 |  | 188 |  | 875 |  | 277 |
Issuances | 983 |  | 361 |  | 478 |  | 16 |  |  | 307 |  | 364 |  | 543 |  | 231 |  | 52 |  | 226 |  | 592 |
Interest accrual | 378 |  | 302 |  | 110 |  | 17 |  |  | 106 |  | 66 |  | 173 |  | 46 |  | 9 |  | 37 |  | 25 |
Net premiums collected (1) | (1,453) |  | (1,135) |  | (862) |  | (101) |  |  | (479) |  | (401) |  | (578) |  | (244) |  | (39) |  | (157) |  | (53) |
Foreign currency translation | (1,655) |  | (1,405) |  | (613) |  | (104) |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Other | (1) |  | 0 |  | 0 |  | 0 |  |  | (8) |  | (6) |  | (8) |  | (5) |  | (1) |  | (5) |  | (17) |
Ending balance at original discount rate | 14,008 |  | 11,845 |  | 5,084 |  | 864 |  |  | 2,687 |  | 1,726 |  | 4,340 |  | 1,221 |  | 209 |  | 976 |  | 824 |
Effect of changes in discount rate assumptions | 176 |  | (28) |  | 72 |  | (18) |  |  | (190) |  | (91) |  | (439) |  | (99) |  | (13) |  | (67) |  | 2 |
Balance at December 31, 2024 | $ | 14,184 |  | $ | 11,817 |  | $ | 5,156 |  | $ | 846 |  |  | $ | 2,497 |  | $ | 1,635 |  | $ | 3,901 |  | $ | 1,122 |  | $ | 196 |  | $ | 909 |  | $ | 826 |
Present value of expected future policy benefits: |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2023 | $ | 50,161 |  | $ | 25,257 |  | $ | 29,731 |  | $ | 5,178 |  |  | $ | 3,109 |  | $ | 2,422 |  | $ | 11,290 |  | $ | 1,943 |  | $ | 478 |  | $ | 1,764 |  | $ | 798 |
Beginning balance at original discount rate | 43,626 |  | 25,023 |  | 30,256 |  | 5,444 |  |  | 3,302 |  | 2,541 |  | 12,120 |  | 2,076 |  | 506 |  | 1,971 |  | 769 |
Effect of changes in cash flow assumptions | (815) |  | (228) |  | (302) |  | (7) |  |  | 109 |  | (73) |  | (112) |  | (31) |  | (28) |  | (3) |  | (12) |
Effect of actual variances from expected experience | (117) |  | (193) |  | (110) |  | (24) |  |  | 91 |  | (16) |  | (144) |  | 21 |  | (16) |  | (43) |  | (7) |
Adjusted beginning of period balance | 42,694 |  | 24,602 |  | 29,844 |  | 5,413 |  |  | 3,502 |  | 2,452 |  | 11,864 |  | 2,066 |  | 462 |  | 1,925 |  | 750 |
Issuances | 1,004 |  | 373 |  | 488 |  | 22 |  |  | 311 |  | 381 |  | 559 |  | 237 |  | 55 |  | 231 |  | 597 |
Interest accrual | 1,356 |  | 570 |  | 582 |  | 93 |  |  | 133 |  | 98 |  | 515 |  | 84 |  | 20 |  | 78 |  | 50 |
Benefit payments | (2,773) |  | (1,033) |  | (1,510) |  | (208) |  |  | (560) |  | (465) |  | (925) |  | (314) |  | (60) |  | (108) |  | (104) |
Foreign currency translation | (4,425) |  | (2,555) |  | (3,074) |  | (555) |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Other | 0 |  | 0 |  | 0 |  | 0 |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Ending balance at original discount rate | 37,856 |  | 21,957 |  | 26,330 |  | 4,765 |  |  | 3,386 |  | 2,466 |  | 12,013 |  | 2,073 |  | 477 |  | 2,126 |  | 1,293 |
Effect of changes in discount rate assumptions | 2,925 |  | (1,351) |  | (2,065) |  | (540) |  |  | (259) |  | (136) |  | (1,312) |  | (176) |  | (36) |  | (279) |  | (5) |
Balance at December 31, 2024 | 40,781 |  | 20,606 |  | 24,265 |  | 4,225 |  |  | 3,127 |  | 2,330 |  | 10,701 |  | 1,897 |  | 441 |  | 1,847 |  | 1,288 |
Net liability for future policy benefits | 26,597 |  | 8,789 |  | 19,109 |  | 3,379 |  |  | 630 |  | 695 |  | 6,800 |  | 775 |  | 245 |  | 938 |  | 462 |
Less: reinsurance recoverable | 5,085 |  | 1,245 |  | 0 |  | 0 |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 18 |  | 0 |
Net liability for future policy benefits after reinsurance recoverable | $ | 21,512 |  | $ | 7,544 |  | $ | 19,109 |  | $ | 3,379 |  |  | $ | 630 |  | $ | 695 |  | $ | 6,800 |  | $ | 775 |  | $ | 245 |  | $ | 920 |  | $ | 462 |
(1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.
Schedule of Weighted-Average Interest Rate and Liability for Future Policy Benefit | The following tables present the weighted-average interest rates and weighted-average liability duration (calculated using the original discount rate) by reporting segment and disaggregated by product type.
| June 30, 2025
| Aflac Japan |  | Aflac U.S.
| Cancer | Medical and Other Health | Life Insurance | Other |  | Accident | Disability | Critical Care | Hospital Indemnity | Dental/ Vision | Life Insurance | Other
Weighted-average interest, original discount rate (1) | 3.8 % | 2.5 % | 2.1 % | 1.8 % |  | 4.0 % | 4.3 % | 4.6 % | 4.5 % | 4.3 % | 3.9 % | 5.4 %
Weighted-average interest, current discount rate (1) | 2.8 % | 3.4 % | 2.6 % | 3.1 % |  | 5.3 % | 5.1 % | 5.5 % | 5.4 % | 5.3 % | 5.4 % | 5.4 %
Weighted-average liability duration (years) | 12.6 | 23.0 | 16.2 | 16.4 |  | 7.6 | 5.6 | 11.0 | 9.0 | 7.6 | 13.5 | 8.4
(1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information.
| December 31, 2024
| Aflac Japan |  | Aflac U.S.
| Cancer | Medical and Other Health | Life Insurance | Other |  | Accident | Disability | Critical Care | Hospital Indemnity | Dental/ Vision | Life Insurance | Other
Weighted-average interest, original discount rate (1) | 3.9 % | 2.5 % | 2.1 % | 1.8 % |  | 4.0 % | 4.3 % | 4.6 % | 4.5 % | 4.3 % | 3.8 % | 5.4 %
Weighted-average interest, current discount rate (1) | 2.2 % | 2.8 % | 2.1 % | 2.5 % |  | 5.3 % | 5.2 % | 5.3 % | 5.3 % | 5.3 % | 5.3 % | 5.3 %
Weighted-average liability duration (years) | 12.6 | 23.5 | 16.1 | 16.7 |  | 7.7 | 5.6 | 11.1 | 9.0 | 7.6 | 13.5 | 9.1
(1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information.
Reconciliation of Future Policy Benefits | The following table presents a reconciliation of the disaggregated rollforwards above to the ending future policy benefits presented in the consolidated balance sheets. The deferred profit liability for limited-payment contracts and the deferred reinsurance gain liability are presented together with the liability for future policy benefits in the consolidated balance sheets and have been included as reconciling items in the table below.
(In millions) | June 30, 2025 |  | December 31, 2024
Balances included in future policy benefits rollforward: |  |  |  |  |  |  |
Aflac Japan |  |  |  |  |  |  |
Cancer |  | $ | 26,994 |  |  |  |  | $ | 26,597 |  |
Medical and other health |  | 8,682 |  |  |  |  | 8,789 |  |
Life insurance |  | 19,145 |  |  |  |  | 19,109 |  |
Other |  | 3,401 |  |  |  |  | 3,379 |  |
Aflac U.S. |  |  |  |  |  |  |
Accident |  | 630 |  |  |  |  | 630 |  |
Disability |  | 686 |  |  |  |  | 695 |  |
Critical care |  | 6,875 |  |  |  |  | 6,800 |  |
Hospital indemnity |  | 772 |  |  |  |  | 775 |  |
Dental/vision |  | 245 |  |  |  |  | 245 |  |
Life insurance |  | 1,003 |  |  |  |  | 938 |  |
Other |  | 462 |  |  |  |  | 462 |  |
Corporate and other |  | 5,106 |  |  |  |  | 5,072 |  |
Deferred profit liability |  | 2,097 |  |  |  |  | 1,844 |  |
Deferred reinsurance gain liability |  | 885 |  |  |  |  | 806 |  |
Intercompany eliminations (1) |  | (5,884) |  |  |  |  | (5,760) |  |
Total |  | $ | 71,099 |  |  |  |  | $ | 70,381 |  |
(1) Elimination entry necessary due to the internal reinsurance transactions with Aflac Re and to recapture a portion of policy liabilities ceded externally as a result of the reinsurance retrocession transaction. See Note 8 of the Notes to the Consolidated Financial Statements in the 2024 Annual Report.
Summary of Net Earned Premiums Recognized | The following table summarizes the amount of net earned premiums recognized in the consolidated statements of earnings by reporting segment and disaggregated by product type.
| Three Months Ended June 30, |  | Six Months Ended June 30, |
(In millions) | 2025 |  | 2024 |  | 2025 |  | 2024 |
Net earned premiums: |  |  |  |  |  |  |  |
Aflac Japan |  |  |  |  |  |  |  |
Cancer | $ | 885 |  |  | $ | 832 |  |  | $ | 1,724 |  |  | $ | 1,710 |  |
Medical and other health | 557 |  |  | 570 |  |  | 1,086 |  |  | 1,175 |  |
Life insurance | 328 |  |  | 316 |  |  | 644 |  |  | 655 |  |
Other | 33 |  |  | 35 |  |  | 65 |  |  | 69 |  |
Aflac U.S. |  |  |  |  |  |  |  |
Accident | 309 |  |  | 316 |  |  | 620 |  |  | 641 |  |
Disability | 354 |  |  | 332 |  |  | 706 |  |  | 665 |  |
Critical care | 443 |  |  | 441 |  |  | 884 |  |  | 885 |  |
Hospital indemnity | 183 |  |  | 182 |  |  | 367 |  |  | 367 |  |
Dental/vision | 52 |  |  | 46 |  |  | 101 |  |  | 105 |  |
Life insurance | 170 |  |  | 141 |  |  | 339 |  |  | 279 |  |
Other | 41 |  |  | 25 |  |  | 90 |  |  | 45 |  |
Corporate and other | 206 |  |  | 155 |  |  | 404 |  |  | 320 |  |
Reinsurance ceded | (91) |  |  | (66) |  |  | (179) |  |  | (135) |  |
Total | $ | 3,470 |  |  | $ | 3,325 |  |  | $ | 6,851 |  |  | $ | 6,781 |  |
Summary of Interest Expense Related to Insurance Contracts Recognized | The following table summarizes the amount of interest expense related to insurance contracts recognized in benefits and claims, excluding reserve remeasurement in the consolidated statements of earnings by reporting segment and disaggregated by product type.
| Three Months Ended June 30, |  | Six Months Ended June 30, |
(In millions) | 2025 |  | 2024 |  | 2025 |  | 2024 |
Interest expense: |  |  |  |  |  |  |  |
Aflac Japan |  |  |  |  |  |  |  |
Cancer | $ | 241 |  |  | $ | 237 |  |  | $ | 474 |  |  | $ | 483 |  |
Medical and other health | 69 |  |  | 66 |  |  | 135 |  |  | 131 |  |
Life insurance | 116 |  |  | 114 |  |  | 230 |  |  | 232 |  |
Other | 20 |  |  | 18 |  |  | 38 |  |  | 37 |  |
Aflac U.S. |  |  |  |  |  |  |  |
Accident | 6 |  |  | 7 |  |  | 13 |  |  | 13 |  |
Disability | 8 |  |  | 8 |  |  | 15 |  |  | 16 |  |
Critical care | 85 |  |  | 86 |  |  | 170 |  |  | 171 |  |
Hospital indemnity | 10 |  |  | 10 |  |  | 19 |  |  | 19 |  |
Dental/vision | 3 |  |  | 3 |  |  | 6 |  |  | 6 |  |
Life insurance | 12 |  |  | 10 |  |  | 23 |  |  | 20 |  |
Other | 6 |  |  | 6 |  |  | 12 |  |  | 13 |  |
Total | $ | 576 |  |  | $ | 565 |  |  | $ | 1,135 |  |  | $ | 1,141 |  |
Summary of Undiscounted and Discounted Expected Future Gross Premiums and Future Benefits and Expenses | The following tables summarize the amount of undiscounted expected future gross premiums and expected future policy benefits and expenses and discounted (discounted at the current period discount rate) expected future gross premiums and expected future policy benefits and expenses by reporting segment and disaggregated by product type. These tables are presented gross of internal and external ceded reinsurance. Future gross premiums represent the expected amount of future premiums to be received. For limited-payment policies, the premiums are collected over a shorter period than the policy term over which benefits are provided. As a result, once the policy reaches premium paid-up status, the future gross premiums can be significantly less than the future benefit payments. Further, benefits and expenses are generally greater in the later years of a policy. These are the primary factors that result in future gross premiums lower than future benefit and expense payments for certain lines of business of the Company.
| June 30, 2025 |  | December 31, 2024
(In millions) | Gross Premiums |  | Benefits and Expenses |  | Gross Premiums |  | Benefits and Expenses
Undiscounted expected future gross premiums and expected future policy benefits and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aflac Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cancer |  | $ | 55,334 |  |  |  |  | $ | 61,226 |  |  |  |  | $ | 51,712 |  |  |  |  | $ | 56,881 |  |
Medical and other health |  | 35,449 |  |  |  |  | 37,821 |  |  |  |  | 33,250 |  |  |  |  | 34,864 |  |
Life insurance |  | 11,752 |  |  |  |  | 40,586 |  |  |  |  | 10,915 |  |  |  |  | 37,520 |  |
Other |  | 1,558 |  |  |  |  | 6,965 |  |  |  |  | 1,477 |  |  |  |  | 6,479 |  |
Aflac U.S. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accident |  | 8,778 |  |  |  |  | 4,647 |  |  |  |  | 8,862 |  |  |  |  | 4,687 |  |
Disability |  | 5,717 |  |  |  |  | 3,097 |  |  |  |  | 5,727 |  |  |  |  | 3,094 |  |
Critical care |  | 19,693 |  |  |  |  | 20,424 |  |  |  |  | 19,624 |  |  |  |  | 20,340 |  |
Hospital indemnity |  | 4,906 |  |  |  |  | 3,044 |  |  |  |  | 4,859 |  |  |  |  | 3,017 |  |
Dental/vision |  | 1,113 |  |  |  |  | 685 |  |  |  |  | 1,118 |  |  |  |  | 679 |  |
Life insurance |  | 3,156 |  |  |  |  | 3,786 |  |  |  |  | 2,966 |  |  |  |  | 3,559 |  |
Other |  | 2,908 |  |  |  |  | 2,788 |  |  |  |  | 2,143 |  |  |  |  | 2,273 |  |
Total |  | $ | 150,364 |  |  |  |  | $ | 185,069 |  |  |  |  | $ | 142,653 |  |  |  |  | $ | 173,393 |  |
| June 30, 2025 |  | December 31, 2024
(In millions) | Gross Premiums |  | Benefits and Expenses |  | Gross Premiums |  | Benefits and Expenses
Discounted expected future gross premiums and expected future policy benefits and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aflac Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cancer |  | $ | 41,068 |  |  |  |  | $ | 41,726 |  |  |  |  | $ | 40,170 |  |  |  |  | $ | 40,781 |  |
Medical and other health |  | 25,563 |  |  |  |  | 20,664 |  |  |  |  | 25,171 |  |  |  |  | 20,606 |  |
Life insurance |  | 9,791 |  |  |  |  | 24,451 |  |  |  |  | 9,367 |  |  |  |  | 24,265 |  |
Other |  | 1,222 |  |  |  |  | 4,255 |  |  |  |  | 1,204 |  |  |  |  | 4,225 |  |
Aflac U.S. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accident |  | 6,100 |  |  |  |  | 3,154 |  |  |  |  | 6,057 |  |  |  |  | 3,127 |  |
Disability |  | 4,462 |  |  |  |  | 2,367 |  |  |  |  | 4,404 |  |  |  |  | 2,330 |  |
Critical care |  | 12,147 |  |  |  |  | 10,942 |  |  |  |  | 11,900 |  |  |  |  | 10,701 |  |
Hospital indemnity |  | 3,403 |  |  |  |  | 1,947 |  |  |  |  | 3,312 |  |  |  |  | 1,897 |  |
Dental/vision |  | 768 |  |  |  |  | 452 |  |  |  |  | 761 |  |  |  |  | 441 |  |
Life insurance |  | 2,215 |  |  |  |  | 1,980 |  |  |  |  | 2,050 |  |  |  |  | 1,847 |  |
Other |  | 1,752 |  |  |  |  | 1,622 |  |  |  |  | 1,290 |  |  |  |  | 1,288 |  |
Total |  | $ | 108,491 |  |  |  |  | $ | 113,560 |  |  |  |  | $ | 105,686 |  |  |  |  | $ | 111,508 |  |
Schedule of Changes in Other Policyholders' Funds | The following table presents the changes in other policyholders’ funds.
(In millions) | June 30, 2025 |  | December 31, 2024
Other policyholders' funds: |  |  |
Fixed annuities account balance, beginning of period (1) | $ | 5,221 |  |  | $ | 5,939 |
Premiums received | 55 |  |  | 104 |
Transfers from WAYS conversions | 157 |  |  | 249 |
Surrenders and withdrawals | (35) |  |  | (58) |
Benefit payments | (263) |  |  | (446) |
Interest credited | 26 |  |  | 49 |
Foreign currency translation and other | 482 |  |  | (616) |
Fixed annuities account balance, end of period | 5,643 |  |  | 5,221 |
Other deposit type reserves | 359 |  |  | 239 |
Total | $ | 6,002 |  |  | $ | 5,460 |
(1) Aflac Japan fixed annuities
Schedule of Other Policyholders' Funds by Guaranteed Crediting Rates | The following table presents other policyholders’ funds balances by range of guaranteed crediting rates.
|  | June 30, 2025 |  | December 31, 2024
(In millions) |  | Range of Guaranteed Minimum Crediting Rates (2) |  | At Guaranteed Minimum |  | Cash Surrender Value |  | Range of Guaranteed Minimum Crediting Rates (2) |  | At Guaranteed Minimum |  | Cash Surrender Value
Fixed annuities (1) |  | 0.5% - 2.2% |  | $5,643 |  | $5,566 |  | 0.5% - 2.2% |  | $5,221 |  | $5,150
(1) Aflac Japan fixed annuities (2) Weighted-average crediting rate of 1.5% at June 30, 2025 and December 31, 2024.

X
- Definition Reconciliation of Future Policy Benefits + References No definition available. + Details
Name: | afl_ReconciliationOfFuturePolicyBenefitsTableTextBlock
Namespace Prefix: | afl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Weighted-Average Interest Rate and Liability for Future Policy Benefit + References No definition available. + Details
Name: | afl_ScheduleOfWeightedAverageInterestRateAndLiabilityForFuturePolicyBenefitTableTextBlock
Namespace Prefix: | afl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of Interest Expense Related to Insurance Contracts Recognized + References No definition available. + Details
Name: | afl_SummaryOfInterestExpenseRelatedToInsuranceContractsRecognizedTableTextBlock
Namespace Prefix: | afl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of Net Earned Premiums Recognized + References No definition available. + Details
Name: | afl_SummaryOfNetEarnedPremiumsRecognizedTableTextBlock
Namespace Prefix: | afl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of Undiscounted and Discounted Expected Future Gross Premiums and Future Benefits and Expenses + References No definition available. + Details
Name: | afl_SummaryOfUndiscountedAndDiscountedExpectedFutureGrossPremiumsAndFutureBenefitsAndExpensesTableTextBlock
Namespace Prefix: | afl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InsuranceLossReservesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of beginning balance to ending balance for liability for future policy benefit, with separate presentation of expected future net premium and expected future benefit. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29E Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-6 + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of policyholder account balance by range of guaranteed minimum crediting rate and related range of difference between rate being credited to policyholder and respective guaranteed minimum. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29F -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29F Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 7A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-7A + Details
Name: | us-gaap_PolicyholderAccountBalanceGuaranteedMinimumCreditingRateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about policyholder account balance, including, but not limited to change in liability and related cash surrender value. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 7A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-7A Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29F -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29F + Details
Name: | us-gaap_PolicyholderAccountBalanceTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration