Ameriprise 2010 Annual Report Download - page 142
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The following table provides information related to variable annuity guarantees for which the Company has established
additional liabilities:
December 31, 2010 December 31, 2009
Contract Weighted Contract Weighted
Total Value in Net Average Total Value in Net Average
Variable Annuity Guarantees by Contract Separate Amount Attained Contract Separate Amount Attained
Benefit Type(1) Value Accounts at Risk(2) Age Value Accounts at Risk(2) Age
(in millions, except age)
GMDB:
Return of premium $ 37,714 $ 36,028 $ 173 62 $ 30,938 $ 28,415 $ 974 61
Five/six-year reset 13,689 11,153 312 62 13,919 11,223 929 61
One-year ratchet 7,741 7,242 287 63 7,081 6,400 873 63
Five-year ratchet 1,466 1,414 8 60 1,256 1,171 38 59
Other 680 649 61 67 549 516 95 67
Total—GMDB $ 61,290 $ 56,486 $ 841 62 $ 53,743 $ 47,725 $ 2,909 61
GGU death benefit $ 970 $ 912 $ 79 64 $ 853 $ 775 $ 70 63
GMIB $ 597 $ 561 $ 76 64 $ 628 $ 582 $ 126 63
GMWB:
GMWB $ 4,341 $ 4,317 $ 106 64 $ 4,196 $ 4,067 $ 454 64
GMWB for life 20,374 20,259 129 63 14,988 14,333 795 63
Total—GMWB $ 24,715 $ 24,576 $ 235 63 $ 19,184 $ 18,400 $ 1,249 63
GMAB $ 3,540 $ 3,523 $ 22 56 $ 2,926 $ 2,853 $ 153 56
(1) Individual variable annuity contracts may have more than one guarantee and therefore may be included in more than one benefit
type. Variable annuity contracts for which the death benefit equals the account value are not shown in this table.
(2) Represents the current guaranteed benefit amount in excess of the current contract value. GMIB, GMWB and GMAB benefits are
subject to waiting periods and payment periods specified in the contract.
Changes in additional liabilities were as follows:
GMDB & GGU GMIB GMWB GMAB UL
(in millions)
Liability balance at January 1, 2008 $ 24 $ 3 $ 136 $ 33 $ 4
Incurred claims 58 10 1,335 334 6
Paid claims (27) (1) — — (3)
Liability balance at December 31, 2008 55 12 1,471 367 7
Incurred claims 12 (5) (1,267) (267) 8
Paid claims (61) (1) — — —
Liability balance at December 31, 2009 6 6 204 100 15
Incurred claims 17 3 133 4 59
Paid claims (18) (1) — — (6)
Liability balance at December 31, 2010 $ 5 $ 8 $ 337 $ 104 $ 68
The liabilities for guaranteed benefits are supported by general account assets.
The following table summarizes the distribution of separate account balances by asset type for variable annuity contracts
providing guaranteed benefits:
December 31,
2010 2009
(in millions)
Mutual funds:
Equity $ 32,665 $ 29,379
Bond 22,755 16,537
Other 2,253 2,889
Total mutual funds $ 57,673 $ 48,805
No gains or losses were recognized on assets transferred to separate accounts for the years ended December 31, 2010,
2009 and 2008.
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