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Fair Value Measurements - The carrying value and fair value of financial instruments (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015
--- | --- | ---
Financial assets: |  |  |
Mortgage loans |  | $ 1,180 | $ 1,067
Policy loans |  | 194 | 201
Financial liabilities: |  |  |
Long-term debt |  | 1,300 | 998
Level 1 |  |  |
Financial assets: |  |  |
Cash and cash equivalents |  | 1,639 | 1,220
Mortgage loans |  | 0 | 0
Policy loans |  | 0 | 0
Total financial assets not accounted for at fair value |  | 1,639 | 1,220
Financial liabilities: |  |  |
Annuity benefits accumulated | [1] | 0 | 0
Long-term debt |  | 0 | 0
Total financial liabilities not accounted for at fair value |  | 0 | 0
Level 2 |  |  |
Financial assets: |  |  |
Cash and cash equivalents |  | 0 | 0
Mortgage loans |  | 0 | 0
Policy loans |  | 0 | 0
Total financial assets not accounted for at fair value |  | 0 | 0
Financial liabilities: |  |  |
Annuity benefits accumulated | [1] | 0 | 0
Long-term debt |  | 1,417 | 1,105
Total financial liabilities not accounted for at fair value |  | 1,417 | 1,105
Level 3 |  |  |
Financial assets: |  |  |
Cash and cash equivalents |  | 0 | 0
Mortgage loans |  | 1,193 | 1,074
Policy loans |  | 194 | 201
Total financial assets not accounted for at fair value |  | 1,387 | 1,275
Financial liabilities: |  |  |
Annuity benefits accumulated | [1] | 29,020 | 25,488
Long-term debt |  | 21 | 15
Total financial liabilities not accounted for at fair value |  | 29,041 | 25,503
Carrying Value |  |  |
Financial assets: |  |  |
Cash and cash equivalents |  | 1,639 | 1,220
Mortgage loans |  | 1,180 | 1,067
Policy loans |  | 194 | 201
Total financial assets not accounted for at fair value |  | 3,013 | 2,488
Financial liabilities: |  |  |
Annuity benefits accumulated | [1] | 29,018 | 26,422
Long-term debt |  | 1,306 | 1,000
Total financial liabilities not accounted for at fair value |  | 30,324 | 27,422
Fair Value |  |  |
Financial assets: |  |  |
Cash and cash equivalents |  | 1,639 | 1,220
Mortgage loans |  | 1,193 | 1,074
Policy loans |  | 194 | 201
Total financial assets not accounted for at fair value |  | 3,026 | 2,495
Financial liabilities: |  |  |
Annuity benefits accumulated | [1] | 29,020 | 25,488
Long-term debt |  | 1,438 | 1,120
Total financial liabilities not accounted for at fair value |  | $ 30,458 | $ 26,608
[1] | Excludes $204 million and $200 million of life contingent annuities in the payout phase at September 30, 2016 and December 31, 2015, respectively.

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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016 + Details
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- Definition Amount before allowance of loans made to policy and contract holders using their life insurance contracts' cash value or separate accounts as collateral. Includes deferred interest and fees, undisbursed portion of loan balance, unamortized costs and premiums over and discounts from face amounts. Excludes loans and leases covered under loss sharing agreements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(e)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.7(a)(7)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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