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Other Policyholder Funds and Benefits Payable

12 Months Ended

Dec. 31, 2023

Policyholder Account Balance Disclosure [Text Block]

13. OTHER POLICYHOLDER FUNDS AND BENEFITS PAYABLE

Other policyholder funds and benefits payable of $638, $658 and $687 as of December 31, 2023, 2022 and 2021, respectively, included universal life long-duration contacts of $223, $232 and $253 as well as policyholder balances related to short-duration contracts of $415, $426, and $434. The universal life long-duration contacts presented in the table below were economically ceded to Prudential as part of the sale of the Company's former individual life business, which closed in 2013.


Universal Life Long Duration Contracts Rollforward
	For the year ended December 31,
	2023			2022			2021
Balance, beginning of year	$	232		$	253		$	277
Premiums Received	14			15			16
Policy Charges	(21)			(23)			(23)
Surrenders and Withdrawals	(6)			(4)			(9)
Benefit Payments	(6)			(20)			(22)
Interest Credited	10			11			14
Balance, End of Year	$	223		$	232		$	253
Weighted-average crediting rate	4.2		%	4.2		%	4.2		%
Net Amount at Risk [1]	$	917		$	987		$	1,086
Cash Surrender Value	$	221		$	229		$	250

[1]Net amount at risk is defined as the current death benefit in excess of the current account value as of the balance sheet date.

As of December 31, 2023, 2022 and 2021, universal life contracts of $222, $230 and $251, respectively, had crediting rates at their guaranteed minimums ranging from 4%-5%.