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Reserves for Future Policy Benefits (Tables)

6 Months Ended

Jun. 30, 2021

Insurance Loss Reserves [Abstract]

Changes in Reserves for Future Policy Benefits

Changes in Reserves for Future Policy Benefits[1]
			For the six months ended June 30,
			2021			2020
Beginning liability balance			$	638		$	635
Incurred			33			53
Paid			(54)			(42)
Change in unrealized investment gains and losses			(6)			6
Ending liability balance			$	611		$	652
Ending reinsurance recoverable asset			$	24		$	27

[1] Reserves for future policy benefits includes paid-up life insurance and whole-life policies resulting from conversion from group life policies included within the Group Benefits segment and reserves for run-off structured settlement and terminal funding agreement liabilities which are in the Corporate category.

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- References

No definition available.

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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=120400017&loc=d3e572229-122910

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