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Reserve for Future Policy Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Insurance Loss Reserves [Abstract]  
Liability for Future Policy Benefit, Activity
Rollforward of Reserve for Future Policy Benefits
For the year ended December 31,
202420232022
Payout AnnuitiesLife ConversionsPaid-up LifePayout AnnuitiesLife ConversionsPaid-up LifePayout AnnuitiesLife ConversionsPaid-up Life
Present Value of Expected Net Premiums
Balance, beginning of the period$49 $47 $58 
Balance, ending of the period $45 $49 $47 
Present Value of Expected Future Policy Benefits
Beginning balance at single-A rate$137 $113 $185 $140 $112 $192 $188 $152 $262 
Beginning adjustment for changes in single-A rate7 (11)(32)4 (14)(39)47 19 14 
Beginning balance at original discount rate130 124 217 136 126 231 141 133 248 
Effect of changes in cash flow assumptions2 2 — (2)— — — — — 
Effect of actual variances from expected experience1 3 (1)1 7 (1)— 5 — 
Adjusted beginning balance133 129 216 135 133 230 141 138 248 
Interest accrual and other7 20 7 7 20 8 8 17 7 
Benefit Payments(12)(28)(22)(12)(29)(21)(13)(29)(24)
Ending balance at original discount rate128 121 201 130 124 217 136 126 231 
Ending adjustment for changes in single-A rate— (15)(33)7 (11)(32)4 (14)(39)
Ending balance at single-A rate$128 $106 $168 $137 $113 $185 $140 $112 $192 
Net reserve for future policy benefits$128 $61 $168 $137 $64 $185 $140 $65 $192 
Weighted-average duration of the reserve for future policy benefits (years)9.211.06.39.012.26.49.211.46.4
 Net Reserve for Future Policy Benefits
As of December 31,
202420232022
Payout Annuities$128 $137 $140 
Life Conversions61 64 65 
Paid-up Life168 185 192 
Deferred Profit Liability17 20 19 
Other74 78 86 
Total$448 $484 $502 
Undiscounted Expected Future Gross Premiums and Benefit Payments
As of December 31,
202420232022
Payout Annuities [1]
Expected future benefit payments$256 $257 $272 
Life Conversions
Expected future gross premiums$106 $114 $120 
Expected future benefit payments$198 $204 $212 
Paid-up Life [1]
Expected future benefit payments$260 $281 $300 
[1]Payout Annuities and Paid-up Life have no expected future gross premiums.
Weighted-Average Interest Rates
As of December 31,
202420232022
Payout Annuities
Interest accretion rate5.6 %5.6 %5.6 %
Current discount rate5.5 %5.0 %5.3 %
Life Conversions
Interest accretion rate4.3 %4.2 %4.1 %
Current discount rate5.6 %5.1 %5.3 %
Paid-up Life
Interest accretion rate2.9 %2.9 %2.9 %
Current discount rate5.3 %5.0 %5.2 %