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Investments (Tables) | 6 Months Ended
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Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract] |
Summary of Investments [Table Text Block] |
The following is a summary of Ameriprise Financial investments: | June 30, 2020 |  | December 31, 2019
| (in millions) |  |
Available-for-Sale securities, at fair value (net of allowance for credit losses: 2020, $14) | $ | 34,442 |  |  | $ | 33,129 |
Mortgage loans, net (net of allowance for credit losses: 2020, $28; 2019, $19) | 2,809 |  |  | 2,778 |
Policy loans | 856 |  |  | 868 |
Other investments (net of allowance for credit losses: 2020, $14; 2019, $5) | 1,101 |  |  | 1,140 |
Total | $ | 39,208 |  |  | $ | 37,915 |
Summary of Net Investment Income [Table Text Block] |
The following is a summary of net investment income: | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
| (in millions) |  |  |  |  |  |
Investment income on fixed maturities | $ | 290 |  |  | $ | 344 |  |  | $ | 612 |  |  | $ | 697 |
Net realized gains (losses) | (3) |  | (1) | — |  |  | (22) |  | (1) | 4 |
Affordable housing partnerships | (22) |  |  | (17) |  |  | (36) |  |  | (32) |
Other | 23 |  |  | 16 |  |  | 45 |  |  | 48 |
Consolidated investment entities | 17 |  |  | 25 |  |  | 34 |  |  | 48 |
Total | $ | 305 |  |  | $ | 368 |  |  | $ | 633 |  |  | $ | 765 |
(1) Includes the change in the allowance for credit losses of $(4) million and $(28) million for the three months and six months ended June 30, 2020, respectively.
Available-for-Sale Securities Disclosure [Table Text Block] |
Available-for-Sale securities distributed by type were as follows: |  | June 30, 2020 |  |  |  |  |  |  |  |
Description of Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Fair Value
|  | (in millions) |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 11,197 |  |  | $ | 1,549 |  |  | $ | (36) |  |  | $ | (13) |  |  | $ | 12,697 |
Residential mortgage backed securities |  | 9,783 |  |  | 185 |  |  | (12) |  |  | — |  |  | 9,956 |
Commercial mortgage backed securities |  | 5,731 |  |  | 205 |  |  | (56) |  |  | — |  |  | 5,880 |
Asset backed securities |  | 2,800 |  |  | 42 |  |  | (28) |  |  | (1) |  |  | 2,813 |
State and municipal obligations |  | 1,092 |  |  | 275 |  |  | (2) |  |  | — |  |  | 1,365 |
U.S. government and agency obligations |  | 1,464 |  |  | 1 |  |  | — |  |  | — |  |  | 1,465 |
Foreign government bonds and obligations |  | 251 |  |  | 18 |  |  | (3) |  |  | — |  |  | 266 |
Total |  | $ | 32,318 |  |  | $ | 2,275 |  |  | $ | (137) |  |  | $ | (14) |  |  | $ | 34,442 |
Description of Securities |  | December 31, 2019 |  |  |  |  |  |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (in millions) |  |  |  |  |  |
Corporate debt securities |  | $ | 10,847 |  |  | $ | 1,344 |  |  | $ | (4) |  |  | $ | 12,187 |
Residential mortgage backed securities |  | 9,954 |  |  | 94 |  |  | (19) |  |  | 10,029 |
Commercial mortgage backed securities |  | 5,473 |  |  | 96 |  |  | (6) |  |  | 5,563 |
Asset backed securities |  | 1,968 |  |  | 42 |  |  | (4) |  |  | 2,006 |
State and municipal obligations |  | 1,131 |  |  | 238 |  |  | (2) |  |  | 1,367 |
U.S. government and agency obligations |  | 1,679 |  |  | 1 |  |  | — |  |  | 1,680 |
Foreign government bonds and obligations |  | 254 |  |  | 19 |  |  | (2) |  |  | 271 |
Other securities |  | 26 |  |  | — |  |  | — |  |  | 26 |
Total |  | $ | 31,332 |  |  | $ | 1,834 |  |  | $ | (37) |  |  | $ | 33,129 |
Fixed Maturity Securities by Rating Disclosure [Table Text Block] | A summary of fixed maturity securities by rating was as follows:
Ratings |  | June 30, 2020 |  |  |  |  |  | December 31, 2019 |  |  |  |
|  | Amortized Cost |  | Fair Value |  | Percent of Total Fair Value |  | Amortized Cost |  | Fair Value |  | Percent of Total Fair Value
|  | (in millions, except percentages) |  |  |  |  |  |  |  |  |  |
AAA |  | $ | 18,997 |  |  | $ | 19,324 |  |  | 56 | % |  | $ | 18,256 |  |  | $ | 18,437 |  |  | 56 | %
AA |  | 1,080 |  |  | 1,311 |  |  | 4 |  |  | 1,113 |  |  | 1,304 |  |  | 4 |
A |  | 3,185 |  |  | 3,724 |  |  | 11 |  |  | 3,008 |  |  | 3,474 |  |  | 10 |
BBB |  | 7,865 |  |  | 8,870 |  |  | 26 |  |  | 8,178 |  |  | 9,102 |  |  | 28 |
Below investment grade (1) |  | 1,191 |  |  | 1,213 |  |  | 3 |  |  | 777 |  |  | 812 |  |  | 2 |
Total fixed maturities |  | $ | 32,318 |  |  | $ | 34,442 |  |  | 100 | % |  | $ | 31,332 |  |  | $ | 33,129 |  |  | 100 | %
(1) The amortized cost and fair value of below investment grade securities includes interest in CLOs managed by the Company of $4 million and $3 million, respectively, as of June 30, 2020, and $5 million and $6 million, respectively, as of December 31, 2019. These securities are not rated but are included in below investment grade due to their risk characteristics.
Available-for-Sale Securities Continuous Unrealized Loss Disclosure [Table Text Block] | The following tables provide information about Available-for-Sale securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position:
Description of Securities |  | June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Less than 12 months |  |  |  |  |  | 12 months or more |  |  |  |  |  | Total |  |  |  |
|  | Number of Securities |  | Fair Value |  | Unrealized Losses (1) |  | Number of Securities |  | Fair Value |  | Unrealized Losses (1) |  | Number of Securities |  | Fair Value |  | Unrealized Losses (1)
|  | (in millions, except number of securities) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | 65 |  |  | $ | 407 |  |  | $ | (40) |  |  | 10 |  |  | $ | 40 |  |  | $ | (9) |  |  | 75 |  |  | $ | 447 |  |  | $ | (49) |
Residential mortgage backed securities |  | 133 |  |  | 1,774 |  |  | (8) |  |  | 87 |  |  | 800 |  |  | (4) |  |  | 220 |  |  | 2,574 |  |  | (12) |
Commercial mortgage backed securities |  | 50 |  |  | 1,433 |  |  | (54) |  |  | 9 |  |  | 140 |  |  | (2) |  |  | 59 |  |  | 1,573 |  |  | (56) |
Asset backed securities |  | 79 |  |  | 1,308 |  |  | (25) |  |  | 10 |  |  | 171 |  |  | (4) |  |  | 89 |  |  | 1,479 |  |  | (29) |
State and municipal obligations |  | 4 |  |  | 55 |  |  | (2) |  |  | 1 |  |  | 4 |  |  | — |  |  | 5 |  |  | 59 |  |  | (2) |
Foreign government bonds and obligations |  | 6 |  |  | 22 |  |  | (1) |  |  | 9 |  |  | 10 |  |  | (2) |  |  | 15 |  |  | 32 |  |  | (3) |
Total |  | 337 |  |  | $ | 4,999 |  |  | $ | (130) |  |  | 126 |  |  | $ | 1,165 |  |  | $ | (21) |  |  | 463 |  |  | $ | 6,164 |  |  | $ | (151) |
(1) Unrealized losses of $14 million due to credit-related factors is recorded in the allowance for credit losses as of June 30, 2020.
Description of Securities |  | December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Less than 12 months |  |  |  |  |  | 12 months or more |  |  |  |  |  | Total |  |  |  |
|  | Number of Securities |  | Fair Value |  | Unrealized Losses |  | Number of Securities |  | Fair Value |  | Unrealized Losses |  | Number of Securities |  | Fair Value |  | Unrealized Losses
|  | (in millions, except number of securities) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | 13 |  |  | $ | 66 |  |  | $ | (1) |  |  | 23 |  |  | $ | 173 |  |  | $ | (3) |  |  | 36 |  |  | $ | 239 |  |  | $ | (4) |
Residential mortgage backed securities |  | 150 |  |  | 4,328 |  |  | (10) |  |  | 118 |  |  | 1,164 |  |  | (9) |  |  | 268 |  |  | 5,492 |  |  | (19) |
Commercial mortgage backed securities |  | 52 |  |  | 1,622 |  |  | (3) |  |  | 31 |  |  | 314 |  |  | (3) |  |  | 83 |  |  | 1,936 |  |  | (6) |
Asset backed securities |  | 34 |  |  | 598 |  |  | (3) |  |  | 16 |  |  | 213 |  |  | (1) |  |  | 50 |  |  | 811 |  |  | (4) |
State and municipal obligations |  | 5 |  |  | 23 |  |  | — |  |  | 4 |  |  | 57 |  |  | (2) |  |  | 9 |  |  | 80 |  |  | (2) |
Foreign government bonds and obligations |  | 1 |  |  | — |  |  | — |  |  | 10 |  |  | 15 |  |  | (2) |  |  | 11 |  |  | 15 |  |  | (2) |
Total |  | 255 |  |  | $ | 6,637 |  |  | $ | (17) |  |  | 202 |  |  | $ | 1,936 |  |  | $ | (20) |  |  | 457 |  |  | $ | 8,573 |  |  | $ | (37) |
Credit Losses on Available-for-Sale Securities Disclosure [Table Text Block] | The following tables present a rollforward of the allowance for credit losses on Available-for-Sale securities:
| Corporate Debt Securities |  | Asset Back Securities |  | Total
| (in millions) |  |  |  |
Balance, April 1, 2020 | $ | 13 |  |  | $ | — |  |  | $ | 13 |
Additions for which credit losses were not previously recorded | — |  |  | — |  |  | — |
Additional increases (decreases) on securities that had an allowance recorded in a previous period | — |  |  | 1 |  |  | 1 |
Balance, June 30, 2020 | $ | 13 |  |  | $ | 1 |  |  | $ | 14 |
| Corporate Debt Securities |  | Asset Back Securities |  | Total
| (in millions) |  |  |  |
Balance, January 1, 2020 (1) | $ | — |  |  | $ | — |  |  | $ | — |
Additions for which credit losses were not previously recorded | 13 |  |  | — |  |  | 13 |
Additional increases (decreases) on securities that had an allowance recorded in a previous period | — |  |  | 1 |  |  | 1 |
Balance, June 30, 2020 | $ | 13 |  |  | $ | 1 |  |  | $ | 14 |
(1) Prior to January 1, 2020, credit losses on Available-for-Sale securities were not recorded in an allowance but were recorded as a reduction of the book value of the security if the security was other-than-temporarily impaired. There is no adoption impact due to the prospective transition for Available-for-Sale securities.
Net Realized Gains and Losses on Available-for-Sale Securities Disclosure [Table Text Block] | Net realized gains and losses on Available-for-Sale securities, determined using the specific identification method, recognized in net investment income were as follows:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
| (in millions) |  |  |  |  |  |
Gross realized investment gains | $ | 5 |  |  | $ | 3 |  |  | $ | 13 |  |  | $ | 22 |
Gross realized investment losses | — |  |  | (3) |  |  | (3) |  |  | (12) |
Credit losses | (1) |  |  | — |  |  | (14) |  |  | (5) |
Total | $ | 4 |  |  | $ | — |  |  | $ | (4) |  |  | $ | 5 |
Available-for-Sale Securities Contractual Maturity Disclosure [Table Text Block] | Available-for-Sale securities by contractual maturity as of June 30, 2020 were as follows:
| Amortized Cost |  | Fair Value
| (in millions) |  |
Due within one year | $ | 2,759 |  |  | $ | 2,774 |
Due after one year through five years | 5,007 |  |  | 5,290 |
Due after five years through 10 years | 2,273 |  |  | 2,545 |
Due after 10 years | 3,965 |  |  | 5,184 |
| 14,004 |  |  | 15,793 |
Residential mortgage backed securities | 9,783 |  |  | 9,956 |
Commercial mortgage backed securities | 5,731 |  |  | 5,880 |
Asset backed securities | 2,800 |  |  | 2,813 |
Total | $ | 32,318 |  |  | $ | 34,442 |

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