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v3.23.3

Reserve for Future Policy Benefits (Tables) | 9 Months Ended
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Sep. 30, 2023
Insurance Loss Reserves [Abstract] |
Liability for Future Policy Benefit, Activity [Table Text Block] |
Rollforward of Reserve for Future Policy Benefits
| For the nine months ended September 30,
| 2023 |  | 2022
| Payout Annuities | Life Conversions | Paid-up Life |  | Payout Annuities | Life Conversions | Paid-up Life
Present Value of Expected Net Premiums |  |  |  |  |  |  |
Balance, beginning of the period |  | $ | 47 |  |  |  |  | $ | 58 |  |
Balance, ending of the period |  | $ | 46 |  |  |  |  | $ | 47 |  |
Present Value of Expected Future Policy Benefits |  |  |  |  |  |  |
Beginning balance at single-A rate | $ | 140 |  | $ | 112 |  | $ | 192 |  |  | $ | 188 |  | $ | 152 |  | $ | 262 |
Beginning adjustment for changes in single-A rate | 4 |  | (14) |  | (39) |  |  | 47 |  | 19 |  | 14 |
Beginning balance at original discount rate | 136 |  | 126 |  | 231 |  |  | 141 |  | 133 |  | 248 |
Effect of changes in cash flow assumptions | (2) |  | 1 |  | — |  |  | — |  | — |  | — |
Effect of actual variances from expected experience | 1 |  | 4 |  | (1) |  |  | — |  | 5 |  | — |
Adjusted beginning balance | 135 |  | 131 |  | 230 |  |  | 141 |  | 138 |  | 248 |
Interest accrual and other | 5 |  | 14 |  | 7 |  |  | 6 |  | 13 |  | 5 |
Benefit Payments | (9) |  | (20) |  | (17) |  |  | (9) |  | (21) |  | (19) |
Ending balance at original discount rate | 131 |  | 125 |  | 220 |  |  | 138 |  | 130 |  | 234 |
Ending adjustment for changes in single-A rate | (3) |  | (20) |  | (44) |  |  | 1 |  | (16) |  | (41) |
Ending balance at single-A rate | $ | 128 |  | $ | 105 |  | $ | 176 |  |  | $ | 139 |  | $ | 114 |  | $ | 193 |
Net reserve for future policy benefits | $ | 128 |  | $ | 59 |  | $ | 176 |  |  | $ | 139 |  | $ | 67 |  | $ | 193 |
Weighted-average duration of the reserve for future policy benefits (years) | 9.0 | 11.4 | 6.1 |  | 9.2 | 12.0 | 6.4
Net Reserve for Future Policy Benefits
| As of September 30,
| 2023 | 2022
Payout Annuities | $ | 128 |  | $ | 139 |
Life Conversions | 59 |  | 67 |
Paid-up Life | 176 |  | 193 |
Deferred Profit Liability | 20 |  | 19 |
Other | 80 |  | 90 |
Total | $ | 463 |  | $ | 508 |
Undiscounted Expected Future Gross Premiums and Benefit Payments
| As of September 30,
| 2023 | 2022 |
Payout Annuities [1] |  |  |
Expected future benefit payments | $ | 259 |  | $ | 275 |  |
Life Conversions |  |  |
Expected future gross premiums | $ | 116 |  | $ | 125 |  |
Expected future benefit payments | $ | 206 |  | $ | 217 |  |
Paid-up Life [1] |  |  |
Expected future benefit payments | $ | 285 |  | $ | 305 |  |
[1]Payout Annuities and Paid-up Life have no expected future gross premiums.
Weighted-Average Interest Rates |
| As of September 30, |
| 2023 | 2022 |
Payout Annuities |  |  |
Interest accretion rate | 5.6 | % | 5.6 | % |
Current discount rate | 5.9 | % | 5.5 | % |
Life Conversions |  |  |
Interest accretion rate | 4.2 | % | 4.1 | % |
Current discount rate | 5.9 | % | 5.4 | % |
Paid-up Life |  |  |
Interest accretion rate | 2.9 | % | 2.9 | % |
Current discount rate | 5.9 | % | 5.3 | % |

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