~~RIVERSOURCE LIFE INSURANCE COMPANY~~

by this report. Based upon that evaluation, the Company’s principal executive officer and chief financial officer have concluded that the Company’s disclosure controls and procedures were effective at a reasonable level of assurance as of ~~March 31,~~September 30, 2015.

Changes in Internal Control over Financial Reporting

There have not been any changes in RiverSource Life Insurance Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter to which this report relates that have materially affected, or are reasonably likely to materially affect, RiverSource Life Insurance Company’s internal control over financial reporting.


PART II.	OTHER INFORMATION


ITEM 1.	LEGAL PROCEEDINGS

The information set forth in Note 15 to the Consolidated Financial Statements in Part I, Item 1 is incorporated herein by reference.


ITEM 1A.	RISK FACTORS

~~The Company is including~~Other than as described in RiverSource Life Insurance Company’s Quarterly Report on Form 10-Q for the ~~following revised risk factor, which should be read~~quarter ended March 31, 2015, there have been no material changes in ~~conjunction with~~ the ~~description of~~ risk factors provided in Part I, Item 1A of ~~RiverSource Life Insurance Company’s~~its 2014 ~~10-K:~~

~~RiverSource Life’s business is regulated heavily, and changes to the laws and regulations may have an adverse effect on RiverSource Life’s operations, reputation and financial condition.~~

RiverSource Life is subject to various federal and state laws and regulations, and is required to obtain and maintain licenses for its business in addition to being subject to regulatory oversight. For a discussion of the regulatory framework in which RiverSource Life operates, see Item 1 of RiverSource Life’s Annual Report for the year ended December 31, 2014 on Form 10-K - “Regulation.” Compliance with these applicable laws and regulations is time-consuming and personnel-intensive, and RiverSource Life has invested and will continue to invest substantial resources to ensure compliance by its parent company and its subsidiaries, directors, officers, employees and affiliated employees and agents. Any enforcement actions, investigations or other proceedings brought against RiverSource Life or its subsidiaries, directors, employees and affiliated employees and agents by its regulators may result in fines, injunctions or other disciplinary actions that could harm RiverSource Life’s reputation or impact its results of operations. Further, any changes to the laws and regulations applicable to RiverSource Life’s business, as well as changes to the interpretation and enforcement of such laws and regulations, may affect its financial condition and operations. Such changes may impact the operations and profitability of RiverSource Life, including with respect to the scope of products and services provided and the incurrence of additional costs of doing business. Ongoing changes to regulation and oversight of the insurance industry may produce results, the full impact of which cannot be immediately ascertained. In addition, RiverSource Life continues to see enhanced legislative and regulatory interest regarding retirement investing, and RiverSource Life will continue to closely review and monitor any legislative or regulatory proposals and changes. Any incremental requirements, costs and risks imposed on RiverSource Life in connection with such current or future legislative or regulatory changes, may constrain its ability to market its products to potential customers, and could negatively impact its profitability and make it more difficult for RiverSource Life to pursue its growth strategy.

Some of the changes resulting from rules and regulations called for under the Dodd-Frank Act could present operational challenges and increase costs. For example, in the area of derivatives, higher margin and capital requirements, coupled with more restrictive collateral rules, could impact RiverSource Life’s ability to effectively manage and hedge risk. Ultimately these complexities and increased costs could have an impact on RiverSource Life’s ability to offer cost-effective and innovative insurance products to its clients.

On April 20, 2015, the Department of Labor proposed regulations seeking to change the definition of who is an investment advice fiduciary under ERISA and how such advice can be provided to account holders in 401(k) plans and IRAs. Qualified accounts, specifically IRAs, make up a significant portion of RiverSource Life’s annuity product sales. RiverSource Life is currently reviewing and analyzing the potential impact of the proposed regulations on its clients and prospective clients who save through retirement accounts, as well as the potential impact on its business. These regulations focus on conflicts of interest related to investment recommendations made by financial advisors to clients holding qualified accounts and also on how financial advisors are able to discuss IRA rollovers. These proposed regulations are subject to a 75-day public comment period ending on July 6, 2015. The Department of Labor has announced that there will be a public hearing within 30 days after the end of the public comment period and that the comment period will be reopened after the hearing. RiverSource Life cannot predict whether or when the regulations may be finalized, or how any final regulations may differ from the proposed regulation. If final regulations were to be issued with provisions substantially similar to the proposed regulation, they could impact how RiverSource Life compensates the financial advisors who sell its annuity products, which could negatively impact its results of operations.

~~Table of Contents~~

~~RIVERSOURCE LIFE INSURANCE COMPANY~~

RiverSource Life is subject to state regulation and must comply with statutory reserve and capital requirements, including preparing financial statements in accordance with statutory accounting principles. State regulators, as well as the NAIC, continually review and update these requirements and other requirements relating to the business operations of insurance companies, including their underwriting and sales practices. Changes in these requirements that are made for the benefit of the consumer sometimes lead to additional expense for the insurer and, thus, could have a material adverse effect on RiverSource Life's financial condition and results of operations. In December 2012, the NAIC adopted a new reserve valuation manual that applies principles-based reserve standards to life insurance products. The valuation manual becomes the effective reserve valuation method when adopted by 42 jurisdictions that account for at least 75% of U.S. insurance premiums combined. To date, 29 states have adopted the valuation manual. The requirement for principles-based life insurance reserves may result in statutory reserves being more sensitive to changes in interest rates, policyholder behavior and other market factors. It is not possible at this time to estimate the potential impact of future changes in statutory reserve and capital requirements. Further, RiverSource Life cannot predict the effect that proposed federal legislation, such as the option of federally chartered insurers or a mandated federal systemic risk regulator or future initiatives of the FIO with the Department of the Treasury, may have on RiverSource Life or its competitors. For additional discussion on the role and activities of the FIO, see Item 1 of RiverSource Life’s Annual Report for the year ended December 31, 2014 on Form 10-K — “Regulation”.

RiverSource Life’s profit margins and earnings are dependent in part on its ability to maintain current fee levels for the products and services that it offers. Competition within the financial services industry could lead RiverSource Life to reduce the fees that it charges its clients for products and services. See the risk factor entitled “Intense competition and the economics of changes in RiverSource Life’s product revenue mix and distribution channels could negatively impact RiverSource Life’s ability to maintain or increase its market share and profitability.” In addition, RiverSource Life may be required to reduce its fee levels, or restructure the fees it charges, as a result of regulatory initiatives or proceedings that are either industry-wide or specifically targeted at RiverSource Life. Reductions or other changes in the fees that RiverSource Life charges for its products and services could reduce its revenues and earnings.10-K.


ITEM 6.	EXHIBITS

The list of exhibits required to be filed as exhibits to this report are listed on page E-1 hereof, under “Exhibit Index,” which is incorporated herein by reference.

4345

Table of Contents

RIVERSOURCE LIFE INSURANCE COMPANY

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



		RIVERSOURCE LIFE INSURANCE COMPANY
		(Registrant)

Date:	~~May 4,~~November 2, 2015	By	/s/ John R. Woerner
			John R. Woerner
			Chairman and President


Date:	~~May 4,~~November 2, 2015	By	/s/ Brian J. McGrane
			Brian J. McGrane
			Executive Vice President and
			Chief Financial Officer

4446

Table of Contents

RIVERSOURCE LIFE INSURANCE COMPANY

EXHIBIT INDEX

The following exhibits are filed as part of this Quarterly Report:



Exhibit		Description


3.1	Copy of Certificate of Incorporation of IDS Life Insurance Company, filed as Exhibit 3.1 to Post-Effective Amendment No. 5 to Registration Statement No. 33-28976, is incorporated by reference.


3.1.1	Copy of Certificate of Amendment of Certificate of Incorporation of IDS Life Insurance Company dated June 22, 2006, filed as Exhibit 3.1 to Form 8-K filed on January 5, 2007, is incorporated by reference.


3.2	Copy of Amended and Restated By-Laws of RiverSource Life Insurance Company dated June 22, 2006, filed as Exhibit 27(f)(2) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777, is incorporated by reference.


10.1*	Copy of Services Agreement by and between Columbia Management Investment Distributors, Inc. and RiverSource Life Insurance Company effective September 1, 2012.


31.1*	Certification of John R. Woerner, Chairman and President, pursuant to Rule 13a-14(a) promulgated under the Securities Exchange Act of 1934, as amended.


31.2*	Certification of Brian J. McGrane, Chief Financial Officer, pursuant to Rule 13a-14(a) promulgated under the Securities Exchange Act of 1934, as amended.


32*	Certification of John R. Woerner, Chairman and President, and Brian J. McGrane, Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101*

The following materials from RiverSource Life Insurance Company’s Quarterly Report on Form 10-Q for the period ended ~~March 31,~~September 30, 2015, formatted in XBRL: (i) Consolidated Balance Sheets at ~~March 31,~~September 30, 2015 and December 31, 2014; (ii) Consolidated Statements of Income for the three months and nine months ended ~~March 31,~~September 30, 2015 and 2014; (iii) Consolidated Statements of Comprehensive Income for the three months and nine months ended ~~March 31,~~September 30, 2015 and 2014; (iv) Consolidated Statements of Shareholder’s Equity for the ~~three~~nine months ended ~~March 31,~~September 30, 2015 and 2014; (v) Consolidated Statements of Cash Flows for the ~~three~~nine months ended ~~March 31,~~September 30, 2015 and 2014; and (vi) Notes to the Consolidated Financial Statements.


*	Filed electronically herewith.

E-1



Minnesota		41-0823832
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
1099 Ameriprise Financial Center, Minneapolis, Minnesota		55474
(Address of principal executive offices)		(Zip Code)



	Large Accelerated Filer o	Accelerated Filer o
	Non-Accelerated Filer x (Do not check if a smaller reporting company)	Smaller reporting company o



Class		Outstanding at ~~May 4,~~November 2, 2015
Common Stock (par value $30 per share)		100,000 shares



Part I.	Financial Information:
	Item 1.	Financial Statements (Unaudited)
		Consolidated Balance Sheets — ~~March 31,~~September 30, 2015 and December 31, 2014	1
		Consolidated Statements of Income — Three months and nine months ended ~~March 31,~~September 30, 2015 and 2014	2
		Consolidated Statements of Comprehensive Income — Three months and nine months ended ~~March 31,~~September 30, 2015 and 2014	2
		Consolidated Statements of Shareholder’s Equity — ~~Three~~Nine months ended ~~March 31,~~September 30, 2015 and 2014	3
		Consolidated Statements of Cash Flows — ~~Three~~Nine months ended ~~March 31,~~September 30, 2015 and 2014	4
		Notes to Consolidated Financial Statements	6
	Item 2.	Management’s Narrative Analysis	3335
	Item 4.	Controls and Procedures	4144
Part II.	Other Information:
	Item 1.	Legal Proceedings	4245
	Item 1A.	Risk Factors	4245
	Item 6.	Exhibits	4345
	Signatures		4446
	Exhibit Index		E-1


	March 31, 2015		December 31, 2014
	(unaudited)				September 30, 2015		December 31, 2014
Assets
Investments:
Available-for-Sale:
Fixed maturities, at fair value (amortized cost: 2015, $21,127; 2014, $21,354)	$	23,219	$	23,243
Fixed maturities, at fair value (amortized cost: 2015, $21,023; 2014, $21,354)					$	22,360	$	23,243
Common stocks, at fair value (cost: 2015 and 2014, $2)	7		7		7		7
Mortgage loans, at amortized cost (less allowance for loan losses: 2015, $21; 2014, $23)	3,225		3,298
Mortgage loans, at amortized cost (less allowance for loan losses: 2015, $20; 2014, $23)					3,235		3,298
Policy loans	811		805		823		805
Other investments	983		987		961		987
Total investments	28,245		28,340		27,386		28,340
Cash and cash equivalents	619		307		606		307
Reinsurance recoverables	2,321		2,268		2,371		2,268
Other receivables	232		206		211		206
Accrued investment income	247		255		247		255
Deferred acquisition costs	2,570		2,576		2,600		2,576
Other assets	5,401		5,006		4,801		5,006
Separate account assets	80,234		79,178		74,447		79,178
Total assets	$	119,869	$	118,136	$	112,669	$	118,136

Liabilities and Shareholder’s Equity
Liabilities:
Policyholder account balances, future policy benefits and claims	$	29,916	$	29,805	$	29,448	$	29,805
Short-term borrowings	200		200		200		200
Other liabilities	5,163		4,650		4,427		4,650
Separate account liabilities	80,234		79,178		74,447		79,178
Total liabilities	115,513		113,833		108,522		113,833
Shareholder’s equity:
Common stock, $30 par value; 100,000 shares authorized, issued and outstanding	3		3		3		3
Additional paid-in capital	2,465		2,464		2,466		2,464
Retained earnings	1,095		1,107		1,122		1,107
Accumulated other comprehensive income, net of tax	793		729		556		729
Total shareholder’s equity	4,356		4,303		4,147		4,303
Total liabilities and shareholder’s equity	$	119,869	$	118,136	$	112,669	$	118,136


	Three Months Ended March 31,						Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014			2015			2014
Revenues
Premiums	$	97		$	104		$	95		$	105		$	300		$	319
Net investment income	306			333			296			319			904			975
Policy and contract charges	460			447			470			445			1,405			1,357
Other revenues	104			95			103			98			320			292
Net realized investment gains	10			4
Net realized investment gains (losses)							(11		)	7			5			12
Total revenues	977			983			953			974			2,934			2,955
Benefits and expenses
Benefits, claims, losses and settlement expenses	306			208			236			262			817			750
Interest credited to fixed accounts	172			186			171			168			503			529
Amortization of deferred acquisition costs	55			71			112			94			241			226
Other insurance and operating expenses	182			182			170			188			539			560
Total benefits and expenses	715			647			689			712			2,100			2,065
Pretax income	262			336			264			262			834			890
Income tax provision	49			38			40			38			144			125
Net income	$	213		$	298		$	224		$	224		$	690		$	765

Supplemental Disclosures:
Total other-than-temporary impairment losses on securities	$	(1	)	$	(1	)	$	(7	)	$	(5	)	$	(8	)	$	(6	)
Portion of loss recognized in other comprehensive income (before taxes)	1			—			—			1			1			1
Net impairment losses recognized in net realized investment gains	$	—		$	(1	)	$	(7	)	$	(4	)	$	(7	)	$	(5	)


	Common Shares		Additional Paid-In Capital		Retained Earnings			Accumulated Other Comprehensive Income		Total			Common Shares		Additional Paid-In Capital		Retained Earnings			Accumulated Other Comprehensive Income			Total
Balances at January 1, 2014	$	3	$	2,463	$	1,042		$	650	$	4,158		$	3	$	2,463	$	1,042		$	650		$	4,158
Comprehensive income:
Net income	—		—		298			—		298			—		—		765			—			765
Other comprehensive income, net of tax	—		—		—			115		115			—		—		—			111			111
Total comprehensive income										413													876
Tax adjustment on share-based incentive compensation plan	—		1		—			—		1			—		1		—			—			1
Cash dividend to Ameriprise Financial, Inc.	—		—		(150		)	—		(150		)
Balances at March 31, 2014	$	3	$	2,464	$	1,190		$	765	$	4,422
Cash dividends to Ameriprise Financial, Inc.													—		—		(500		)	—			(500		)
Balances at September 30, 2014													$	3	$	2,464	$	1,307		$	761		$	4,535

Balances at January 1, 2015	$	3	$	2,464	$	1,107		$	729	$	4,303		$	3	$	2,464	$	1,107		$	729		$	4,303
Comprehensive income:
Net income	—		—		213			—		213			—		—		690			—			690
Other comprehensive income, net of tax	—		—		—			64		64
Other comprehensive loss, net of tax													—		—		—			(173		)	(173		)
Total comprehensive income										277													517
Tax adjustment on share-based incentive compensation plan	—		1		—			—		1			—		2		—			—			2
Cash dividend to Ameriprise Financial, Inc.	—		—		(225		)	—		(225		)
Balances at March 31, 2015	$	3	$	2,465	$	1,095		$	793	$	4,356
Cash dividends to Ameriprise Financial, Inc.													—		—		(675		)	—			(675		)
Balances at September 30, 2015													$	3	$	2,466	$	1,122		$	556		$	4,147

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in millions)

	Nine Months Ended September 30,
	2015			2014
Cash Flows from Operating Activities
Net income	$	690		$	765
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	10			6
Deferred income tax benefit	(5		)	(96		)
Contractholder and policyholder charges, non-cash	(249		)	(246		)
Loss from equity method investments	25			20
Net realized investment gains	(14		)	(20		)
Other-than-temporary impairments and provision for loan losses recognized in net realized investment gains	9			8
Changes in operating assets and liabilities:
Deferred acquisition costs	40			30
Policyholder account balances, future policy benefits and claims, net	879			735
Derivatives, net of collateral	(162		)	(483		)
Reinsurance recoverables	(95		)	(70		)
Other receivables	16			(23		)
Accrued investment income	8			19
Other, net	406			(61		)
Net cash provided by operating activities	1,558			584

Cash Flows from Investing Activities
Available-for-Sale securities:
Proceeds from sales	120			280
Maturities, sinking fund payments and calls	2,090			1,843
Purchases	(1,768		)	(827		)
Proceeds from maturities and repayments of mortgage loans	469			407
Funding of mortgage loans	(397		)	(373		)
Proceeds from sales and collections of other investments	94			103
Purchase of other investments	(124		)	(267		)
Purchase of land, buildings, equipment and software	(8		)	(6		)
Change in policy loans, net	(18		)	(31		)
Advance on line of credit to Ameriprise Financial, Inc.	—			(15		)
Repayment from Ameriprise Financial, Inc. on line of credit	—			15
Other, net	30			10
Net cash provided by investing activities	488			1,139
See Notes to Consolidated Financial Statements.


	March 31, 2015												September 30, 2015
Description of Securities	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Noncredit OTTI ⁽¹⁾			Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Noncredit OTTI ⁽¹⁾
	(in millions)												(in millions)
Fixed maturities:
Corporate debt securities	$	13,628	$	1,622	$	(36	)	$	15,214	$	3		$	13,814	$	1,129	$	(163	)	$	14,780	$	3
Residential mortgage backed securities	3,329		156		(26		)	3,459		(9		)	3,131		121		(28		)	3,224		(8		)
Commercial mortgage backed securities	2,161		129		(1		)	2,289		—			2,048		102		(3		)	2,147		—
State and municipal obligations	941		201		(26		)	1,116		—			1,010		153		(27		)	1,136		—
Asset backed securities	804		54		(1		)	857		—			759		46		(1		)	804		—
Foreign government bonds and obligations	227		24		(6		)	245		—			223		18		(11		)	230		—
U.S. government and agencies obligations	37		2		—			39		—			38		1		—			39		—
Total fixed maturities	21,127		2,188		(96		)	23,219		(6		)	21,023		1,570		(233		)	22,360		(5		)
Common stocks	2		5		—			7		3			2		5		—			7		3
Total	$	21,129	$	2,193	$	(96	)	$	23,226	$	(3	)	$	21,025	$	1,575	$	(233	)	$	22,367	$	(2	)


⁽¹⁾	Represents the amount of other-than-temporary impairment (“OTTI”) losses in accumulated other comprehensive income (“AOCI”). Amount includes unrealized gains and losses on impaired securities subsequent to the initial impairment measurement date. These amounts are included in gross unrealized gains and losses as of the end of the period.


	March 31, 2015																		September 30, 2015
	Less than 12 months						12 months or more						Total						Less than 12 months						12 months or more						Total
Description of Securities	Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses
	(in millions, except number of securities)																		(in millions, except number of securities)
Corporate debt securities	64	$	684	$	(31	)	13	$	138	$	(5	)	77	$	822	$	(36	)	195	$	2,757	$	(129	)	24	$	196	$	(34	)	219	$	2,953	$	(163	)
Residential mortgage backed securities	16	162		(1		)	56	593		(25		)	72	755		(26		)	21	250		(3		)	56	545		(25		)	77	795		(28		)
Commercial mortgage backed securities	10	98		—			4	57		(1		)	14	155		(1		)	19	208		(2		)	3	34		(1		)	22	242		(3		)
State and municipal obligations	1	5		—			2	101		(26		)	3	106		(26		)	7	32		(1		)	2	102		(26		)	9	134		(27		)
Asset backed securities	2	26		—			2	14		(1		)	4	40		(1		)	8	76		(1		)	1	8		—			9	84		(1		)
Foreign government bonds and obligations	3	7		(1		)	14	26		(5		)	17	33		(6		)	8	46		(3		)	14	23		(8		)	22	69		(11		)
Total	96	$	982	$	(33	)	91	$	929	$	(63	)	187	$	1,911	$	(96	)	258	$	3,369	$	(139	)	100	$	908	$	(94	)	358	$	4,277	$	(233	)


	Net Unrealized Securities Gains			Deferred Income Tax			AOCI Related to Net Unrealized Securities Gains				Net Unrealized Securities Gains			Deferred Income Tax			AOCI Related to Net Unrealized Securities Gains
	(in millions)										(in millions)
Balance at January 1, 2014	$	1,033		$	(366	)	$	667			$	1,033		$	(366	)	$	667
Net unrealized securities gains arising during the period ⁽¹⁾	320			(112		)	208				441			(156		)	285
Reclassification of net securities gains included in net income	(4		)	1			(3		)		(15		)	6			(9		)
Impact of other adjustments	(140		)	49			(91		)		(258		)	90			(168		)
Balance at March 31, 2014	$	1,209		$	(428	)	$	781		⁽²⁾
Balance at September 30, 2014											$	1,201		$	(426	)	$	775		⁽²⁾

Balance at January 1, 2015	$	1,148		$	(407	)	$	741			$	1,148		$	(407	)	$	741
Net unrealized securities gains arising during the period ⁽¹⁾	215			(75		)	140
Net unrealized securities losses arising during the period ⁽¹⁾											(545		)	191			(354		)
Reclassification of net securities gains included in net income	(12		)	4			(8		)		(7		)	2			(5		)
Impact of other adjustments	(106		)	37			(69		)		281			(98		)	183
Balance at March 31, 2015	$	1,245		$	(441	)	$	804		⁽²⁾
Balance at September 30, 2015											$	877		$	(312	)	$	565		⁽²⁾


⁽¹⁾	Includes other-than-temporary impairment losses on Available-for-Sale securities related to factors other than credit that were recognized in other comprehensive income (loss) during the period.


⁽²⁾	Includes $2$1 million and $62 million of noncredit related impairments on securities and net unrealized securities losses on previously impaired securities at ~~March 31,~~September 30, 2015 and 2014, respectively.


	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(in millions)				(in millions)
Due within one year	$	777	$	791	$	1,009	$	1,026
Due after one year through five years	5,627		6,164		5,327		5,743
Due after five years through 10 years	4,844		5,127		5,023		5,104
Due after 10 years	3,585		4,532		3,726		4,312
	14,833		16,614		15,085		16,185
Residential mortgage backed securities	3,329		3,459		3,131		3,224
Commercial mortgage backed securities	2,161		2,289		2,048		2,147
Asset backed securities	804		857		759		804
Common stocks	2		7		2		7
Total	$	21,129	$	23,226	$	21,025	$	22,367


1.	Basis of Presentation


2.	Recent Accounting Pronouncements


3.	Variable Interest Entities


4.	Investments


	Three Months Ended March 31,						September 30,
	2015			2014			2015			2014
	(in millions)						(in millions)
Beginning balance	$	28		$	28		$	28		$	28
Charge-offs	(2		)	(2		)	(3		)	(3		)
Provisions	1			—			1			2
Ending balance	$	27		$	26		$	26		$	27

Individually evaluated for impairment	$	7		$	7		$	5		$	8
Collectively evaluated for impairment	20			19			21			19


	Loans				Percentage				Loans				Percentage
	March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014		September 30, 2015		December 31, 2014		September 30, 2015		December 31, 2014
	(in millions)								(in millions)
South Atlantic	$	696	$	710	27	%	27	%	$	736	$	710	28	%	27	%
Pacific	670		673		26		26		722		673		27		26
Mountain	244		236		9		9		241		236		9		9
West North Central	228		223		9		8		218		223		8		8
Middle Atlantic									204		210		8		8
East North Central	208		237		8		9		202		237		7		9
Middle Atlantic	201		210		8		8
West South Central	149		151		6		6		125		151		5		6
New England	129		130		5		5		122		130		5		5
East South Central	55		62		2		2		72		62		3		2
	2,580		2,632		100	%	100	%	2,642		2,632		100	%	100	%
Less: allowance for loan losses	21		23						20		23
Total	$	2,559	$	2,609					$	2,622	$	2,609


6.	Deferred Acquisition Costs and Deferred Sales Inducement Costs


⁽¹⁾	Includes the value of GMAB embedded derivatives that was a net asset at ~~both March 31, 2015 and~~ December 31, 2014 reported as a contra liability.


⁽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.



	March 31, 2015			December 31, 2014
	Net Amount at Risk		Weighted Average Attained Age	Net Amount at Risk		Weighted Average Attained Age
	(in millions, except age)
UL secondary guarantees	$	6,162	63	$	6,076	62


	GMDB & GGU			GMIB		GMWB ⁽¹⁾			GMAB ⁽¹⁾			UL			GMDB & GGU			GMIB		GMWB ⁽¹⁾			GMAB ⁽¹⁾			UL
	(in millions)														(in millions)
Balance at January 1, 2014	$	4		$	6	$	(383	)	$	(62	)	$	206		$	4		$	6	$	(383	)	$	(62	)	$	206
Incurred claims	1			—		116			(7		)	19			8			1		528			7			54
Paid claims	(1		)	—		—			—			(4		)	(3		)	—		—			—			(13		)
Balance at March 31, 2014	$	4		$	6	$	(267	)	$	(69	)	$	221
Balance at September 30, 2014															$	9		$	7	$	145		$	(55	)	$	247

Balance at January 1, 2015	$	9		$	7	$	693		$	(41	)	$	263		$	9		$	7	$	693		$	(41	)	$	263
Incurred claims	1			—		347			6			22			9			—		580			72			70
Paid claims	(1		)	—		—			—			(6		)	(3		)	—		—			—			(19		)
Balance at March 31, 2015	$	9		$	7	$	1,040		$	(35	)	$	279
Balance at September 30, 2015															$	15		$	7	$	1,273		$	31		$	314


⁽¹⁾	The incurred claims for GMWB and GMAB represent the total change in the liabilities (contra liabilities).


Level 1	Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date.


Level 2	Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities.


Level 3	Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.


⁽¹⁾	The fair value of the GMWB and GMAB embedded derivatives included $1.2 billionof individual contracts in a liability position and $112 millionof individual contracts in an asset position.


⁽²⁾	The Company’s adjustment for nonperformance risk resulted in a ~~$359~~$497 million cumulative decrease to the embedded derivatives.


⁽²⁾	~~The fair value of the GMWB and GMAB embedded derivatives included $979 million of individual contracts in a liability position and $152 million of individual contracts in an asset position.~~


⁽¹⁾	The ~~Company’s adjustment for nonperformance risk resulted~~fair value of the GMWB and GMAB embedded derivatives included $700 millionof individual contracts in a ~~$311~~liability position and $221 million ~~cumulative decrease to the embedded derivatives.~~of individual contracts in an asset position.


⁽²⁾	The ~~fair value of the GMWB and GMAB embedded derivatives included $700 million of individual contracts~~Company’s adjustment for nonperformance risk resulted in a ~~liability position and $221~~$311 million ~~of individual contracts in an asset position.~~cumulative decrease to the embedded derivatives.



	Available-for-Sale Securities: Fixed Maturities																		Available-for-Sale Securities: Fixed Maturities
	Corporate Debt Securities			Residential Mortgage Backed Securities			Commercial Mortgage Backed Securities			Asset Backed Securities			Total			Common Stocks			Corporate Debt Securities			Residential Mortgage Backed Securities			Commercial Mortgage Backed Securities			Asset Backed Securities			Total
	(in millions)																		(in millions)
Balance, January 1, 2015	$	1,353		$	9		$	90		$	151		$	1,603		$	1
Balance, July 1, 2015																			$	1,339		$	8		$	34		$	118		$	1,499
Total gains (losses) included in:
Net income																			(1		)	—			—			1			—			⁽¹⁾
Other comprehensive income	12			—			—			—			12			(1		)	(3		)	—			—			2			(1		)
Purchases	15			31			—			—			46			—			91			37			—			—			128
Settlements	(20		)	(1		)	(1		)	—			(22		)	—			(89		)	(1		)	(2		)	—			(92		)
Transfers into Level 3	—			—			6			—			6			—
Transfers out of Level 3	—			—			(75		)	(32		)	(107		)	—			—			—			(27		)	(13		)	(40		)
Balance, March 31, 2015	$	1,360		$	39		$	20		$	119		$	1,538		$	—
Changes in unrealized gains (losses) relating to assets held at March 31, 2015 included in:
Balance, September 30, 2015																			$	1,337		$	44		$	5		$	108		$	1,494
Changes in unrealized gains (losses) relating to assets held at September 30, 2015 included in:																			Changes in unrealized gains (losses) relating to assets held at September 30, 2015 included in:
Net investment income	$	—		$	—		$	—		$	—		$	—		$	—		$	(1	)	$	—		$	—		$	1		$	—


⁽¹⁾	Included in net investment income in the Consolidated Statements of Income.



	Policyholder Account Balances, Future Policy Benefits and Claims										Policyholder Account Balances, Future Policy Benefits and Claims
	IUL Embedded Derivatives				GMWB and GMAB Embedded Derivatives			Total			IUL Embedded Derivatives				GMWB and GMAB Embedded Derivatives				Total
	(in millions)										(in millions)
Balance, January 1, 2015	$	242			$	479		$	721
Total losses included in:
Balance, July 1, 2015											$	292			$	235			$	527
Total (gains) losses included in:
Net income	14			⁽¹⁾	280		⁽²⁾	294			(1		)	⁽¹⁾	805			⁽²⁾	804
Issues	19				64			83			31				69				100
Settlements	(5		)		4			(1		)	(5		)		(2		)		(7		)
Balance, March 31, 2015	$	270			$	827		$	1,097
Changes in unrealized losses relating to liabilities held at March 31, 2015 included in:
Balance, September 30, 2015											$	317			$	1,107			$	1,424
Changes in unrealized (gains) losses relating to liabilities held at September 30, 2015 included in:											Changes in unrealized (gains) losses relating to liabilities held at September 30, 2015 included in:
Benefits, claims, losses and settlement expenses	$	—			$	278		$	278		$	—			$	811			$	811
Interest credited to fixed accounts	14				—			14			(1		)		—				(1		)


⁽¹⁾	Included in interest credited to fixed accounts in the Consolidated Statements of Income.