Ameriprise 2014 Annual Report Download - page 154

The net amount at risk for UL secondary guarantees is defined as the current guaranteed death benefit amount in excess
of the current policyholder value.
Changes in additional liabilities (contra liabilities) for variable annuity and insurance guarantees were as follows:
GMDB & GGU GMIB GMWB(1) GMAB(1) UL
(in millions)
Balance at January 1, 2012 $ 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
Incurred claims 4 (2) (1,182) (165) 67
Paid claims (4) (1) — — (16)
Balance at December 31, 2013 4 6 (383) (62) 206
Incurred claims 9 1 1,076 21 67
Paid claims (4) — — — (10)
Balance at December 31, 2014 $ 9 $ 7 $ 693 $ (41) $ 263
(1) The incurred claims for GMWB and GMAB represent the total change in the liabilities (contra liabilities).
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,
2014 2013
(in millions)
Mutual funds:
Equity $ 41,403 $ 39,195
Bond 25,060 26,519
Other 4,490 3,764
Total mutual funds $ 70,953 $ 69,478
No gains or losses were recognized on assets transferred to separate accounts for the years ended December 31, 2014,
2013 and 2012.
12. Customer Deposits
Customer deposits consisted of the following:
December 31,
2014 2013
(in millions)
Fixed rate certificates $ 3,597 $ 3,338
Stock market certificates 581 611
Stock market embedded derivative reserve 67
Other 23 28
Less: accrued interest classified in other liabilities (8) (10)
Total investment certificate reserves 4,199 3,974
Brokerage deposits 3,465 3,088
Total $ 7,664 $ 7,062
Investment Certificates
The Company offers fixed rate investment certificates primarily in amounts ranging from $1,000 to $2 million with interest
crediting rate terms ranging from 3 to 36 months. Investment certificates may be purchased either with a lump sum
payment or installment payments. Certificate owners are entitled to receive, at maturity, a definite sum of money.
Payments from certificate owners are credited to investment certificate reserves. Investment certificate reserves generally
accumulate interest at specified percentage rates. Reserves are maintained for advance payments made by certificate
owners, accrued interest thereon and for additional credits in excess of minimum guaranteed rates and accrued interest
thereon. On certificates allowing for the deduction of a surrender charge, the cash surrender values may be less than
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