Ameriprise 2012 Annual Report Download - page 150

The following table provides information related to variable annuity guarantees for which the Company has established
additional liabilities:
December 31, 2012 December 31, 2011
Contract Weighted Contract Weighted
Variable Annuity Total Value in Net Average Total Value in Net Average
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 $ 45,697 $ 43,942 $ 61 63 $ 40,011 $ 38,275 $ 382 63
Five/six-year reset 11,233 8,722 115 63 11,631 9,118 350 63
One-year ratchet 7,367 6,933 106 65 7,233 6,777 479 64
Five-year ratchet 1,616 1,563 3 61 1,472 1,418 25 61
Other 912 885 62 68 759 732 93 68
Total — GMDB $ 66,825 $ 62,045 $ 347 63 $ 61,106 $ 56,320 $ 1,329 63
GGU death benefit $ 958 $ 907 $ 93 63 $ 920 $ 868 $ 78 63
GMIB $ 425 $ 399 $ 72 66 $ 463 $ 433 $ 106 65
GMWB:
GMWB $ 3,898 $ 3,880 $ 34 66 $ 3,887 $ 3,868 $ 236 65
GMWB for life 28,588 28,462 263 64 23,756 23,625 863 64
Total — GMWB $ 32,486 $ 32,342 $ 297 64 $ 27,643 $ 27,493 $ 1,099 64
GMAB $ 3,773 $ 3,762 $ 5 57 $ 3,516 $ 3,509 $ 63 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 for variable annuity and insurance guarantees were as follows:
GMDB & GGU GMIB GMWB GMAB UL
(in millions)
Balance at January 1, 2010 $ 6 $ 6 $ 204 $ 100 $ 15
Incurred claims 17 3 133 4 59
Paid claims (18) (1) — — (6)
Balance at December 31, 2010 5 8 337 104 68
Incurred claims 10 2 1,040 133 53
Paid claims (10) (1) — — (10)
Balance at December 31, 2011 5 9 1,377 237 111
Incurred claims 6 1 (578) (134) 57
Paid claims (7) (1) — — (13)
Balance at December 31, 2012 $ 4 $ 9 $ 799 $ 103 $ 155
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,
2012 2011
(in millions)
Mutual funds:
Equity $ 32,054 $ 30,738
Bond 26,165 23,862
Other 3,991 1,969
Total mutual funds $ 62,210 $ 56,569
No gains or losses were recognized on assets transferred to separate accounts for the years ended December 31, 2012,
2011 and 2010.
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