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Other Policyholder Funds and Benefits Payable

6 Months Ended

Jun. 30, 2024

Policyholder Account Balance Disclosure [Text Block]

11. OTHER POLICYHOLDER FUNDS AND BENEFITS PAYABLE

Other policyholder funds and benefits payable of $622 and $647 as of June 30, 2024 and 2023 respectively, included universal life long-duration contacts of $210 and $228 as well as policyholder balances related to short-duration contracts of $412

and $419. 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 six months ended June 30,
	2024			2023
Balance, beginning of the period	$	223		$	232
Premiums Received	6			6
Policy Charges	(13)			(10)
Surrenders and Withdrawals	(4)			(2)
Benefit Payments	(6)			(3)
Interest Credited	4			5
Balance, end of the period	$	210		$	228
Weighted-average crediting rate	4.2		%	4.2		%
Net Amount at Risk [1]	$	870		$	950
Cash Surrender Value	$	209		$	226

[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 June 30, 2024 and 2023, universal life contracts of $209 and $227, respectively, had crediting rates at their guaranteed minimums ranging from 4%-5%