Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 129

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 3
Chunk 129
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 service coverage of 1.7, and no scheduled maturities through 2025. A summary of our insurance liabilities and annuity benefits is presented below.

2024 FORM 10-K 55

December 31, 2024Long-term careStructured settlement annuitiesLifeOther contractsTotalFuture policy benefit reserves$24,675 $8,426 $1,018 $357 $34,476 Investment contracts— 719 — 621 1,340 Other— — 116 277 394 Total$24,675 $9,145 $1,134 $1,254 $36,209 December 31, 2023Future policy benefit reserves$26,832 $9,357 $1,117 $382 $37,689 Investment contracts— 793 — 694 1,487 Other— — 116 285 400 Total$26,832 $10,150 $1,233 $1,361 $39,576 The following tables summarize balances of and changes in future policy benefit reserves.December 31, 2024December 31, 2023Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLifeBalance, beginning of year$4,063 $— $4,803 $4,059 $— $4,828 Beginning balance at locked-in discount rate3,745 — 4,773 3,958 — 5,210 Effect of changes in cash flow assumptions465 — (1)(4)— (77)Effect of actual variances from expected experience(26)— 8 (22)— (300)Adjusted beginning of year balance4,184 — 4,780 3,932 — 4,833 Interest accrual 209 — 177 207 — 192 Net premiums collected(403)— (309)(394)— (315)Effect of foreign currency— — (234)— — 64 Ending balance at locked-in discount rate3,991 — 4,415 3,745 — 4,773 Effect of changes in discount rate assumptions154 — (97)318 — 30 Balance, end of year$4,144 $— $4