v3.25.2
POLICY LIABILITIES - Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Present value of expected future policy benefits:      
Beginning balance $ 111,508    
Ending balance 113,560 $ 111,508  
Net liability for future policy benefits 71,099 70,381  
Aflac Japan | Cancer      
Present value of expected future net premiums:      
Beginning balance 14,184 17,509  
Beginning balance at original discount rate 14,008 16,452  
Effect of changes in cash flow assumptions   0 $ (625)
Effect of actual variances from expected experience   (62) (71)
Adjusted beginning of period balance   13,946 15,756
Issuances 489 983  
Interest accrual 186 378  
Net premiums collected [1] (717) (1,453)  
Foreign currency translation 1,292 (1,655)  
Other (1) (1)  
Ending balance at original discount rate 15,195 14,008  
Effect of changes in discount rate assumptions (463) 176  
Ending balance 14,732 14,184  
Present value of expected future policy benefits:      
Beginning balance 40,781 50,161  
Beginning balance at original discount rate 37,856 43,626  
Effect of changes in cash flow assumptions   0 (815)
Effect of actual variances from expected experience   (86) (117)
Adjusted beginning of period balance   37,770 42,694
Issuances 495 1,004  
Interest accrual 660 1,356  
Benefit payments (1,364) (2,773)  
Foreign currency translation 3,490 (4,425)  
Other 0 0  
Ending balance at original discount rate 41,051 37,856  
Effect of changes in discount rate assumptions 675 2,925  
Ending balance 41,726 40,781  
Net liability for future policy benefits 26,994 26,597  
Less: reinsurance recoverable 5,175 5,085  
Net liability for future policy benefits after reinsurance recoverable 21,819 21,512  
Aflac Japan | Medical and other health      
Present value of expected future net premiums:      
Beginning balance 11,817 14,697  
Beginning balance at original discount rate 11,845 14,040  
Effect of changes in cash flow assumptions   0 (154)
Effect of actual variances from expected experience   (75) (164)
Adjusted beginning of period balance   11,770 13,722
Issuances 143 361  
Interest accrual 147 302  
Net premiums collected [1] (547) (1,135)  
Foreign currency translation 1,085 (1,405)  
Other 0 0  
Ending balance at original discount rate 12,598 11,845  
Effect of changes in discount rate assumptions (616) (28)  
Ending balance 11,982 11,817  
Present value of expected future policy benefits:      
Beginning balance 20,606 25,257  
Beginning balance at original discount rate 21,957 25,023  
Effect of changes in cash flow assumptions   0 (228)
Effect of actual variances from expected experience   (90) (193)
Adjusted beginning of period balance   21,867 24,602
Issuances 146 373  
Interest accrual 282 570  
Benefit payments (517) (1,033)  
Foreign currency translation 2,020 (2,555)  
Other 0 0  
Ending balance at original discount rate 23,798 21,957  
Effect of changes in discount rate assumptions (3,134) (1,351)  
Ending balance 20,664 20,606  
Net liability for future policy benefits 8,682 8,789  
Less: reinsurance recoverable 1,249 1,245  
Net liability for future policy benefits after reinsurance recoverable 7,433 7,544  
Aflac Japan | Life insurance      
Present value of expected future net premiums:      
Beginning balance 5,156 6,488  
Beginning balance at original discount rate 5,084 6,258  
Effect of changes in cash flow assumptions   0 (190)
Effect of actual variances from expected experience   (23) (97)
Adjusted beginning of period balance   5,061 5,971
Issuances 210 478  
Interest accrual 56 110  
Net premiums collected [1] (409) (862)  
Foreign currency translation 464 (613)  
Other 0 0  
Ending balance at original discount rate 5,382 5,084  
Effect of changes in discount rate assumptions (76) 72  
Ending balance 5,306 5,156  
Present value of expected future policy benefits:      
Beginning balance 24,265 29,731  
Beginning balance at original discount rate 26,330 30,256  
Effect of changes in cash flow assumptions   0 (302)
Effect of actual variances from expected experience   (21) (110)
Adjusted beginning of period balance   26,309 29,844
Issuances 212 488  
Interest accrual 286 582  
Benefit payments (973) (1,510)  
Foreign currency translation 2,417 (3,074)  
Other 0 0  
Ending balance at original discount rate 28,251 26,330  
Effect of changes in discount rate assumptions (3,800) (2,065)  
Ending balance 24,451 24,265  
Net liability for future policy benefits 19,145 19,109  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 19,145 19,109  
Aflac Japan | Other      
Present value of expected future net premiums:      
Beginning balance 846 1,088  
Beginning balance at original discount rate 864 1,069  
Effect of changes in cash flow assumptions   0 (19)
Effect of actual variances from expected experience   (4) (14)
Adjusted beginning of period balance   860 1,036
Issuances 5 16  
Interest accrual 8 17  
Net premiums collected [1] (48) (101)  
Foreign currency translation 79 (104)  
Other 0 0  
Ending balance at original discount rate 904 864  
Effect of changes in discount rate assumptions (50) (18)  
Ending balance 854 846  
Present value of expected future policy benefits:      
Beginning balance 4,225 5,178  
Beginning balance at original discount rate 4,765 5,444  
Effect of changes in cash flow assumptions   0 (7)
Effect of actual variances from expected experience   (7) (24)
Adjusted beginning of period balance   4,758 5,413
Issuances 7 22  
Interest accrual 46 93  
Benefit payments (107) (208)  
Foreign currency translation 439 (555)  
Other 0 0  
Ending balance at original discount rate 5,143 4,765  
Effect of changes in discount rate assumptions (888) (540)  
Ending balance 4,255 4,225  
Net liability for future policy benefits 3,401 3,379  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 3,401 3,379  
Aflac U.S. | Life insurance      
Present value of expected future net premiums:      
Beginning balance 909 853  
Beginning balance at original discount rate 976 909  
Effect of changes in cash flow assumptions   0 (5)
Effect of actual variances from expected experience   (14) (29)
Adjusted beginning of period balance   962 875
Issuances 127 226  
Interest accrual 20 37  
Net premiums collected [1] (85) (157)  
Foreign currency translation 0 0  
Other (2) (5)  
Ending balance at original discount rate 1,022 976  
Effect of changes in discount rate assumptions (45) (67)  
Ending balance 977 909  
Present value of expected future policy benefits:      
Beginning balance 1,847 1,764  
Beginning balance at original discount rate 2,126 1,971  
Effect of changes in cash flow assumptions   0 (3)
Effect of actual variances from expected experience   (22) (43)
Adjusted beginning of period balance   2,104 1,925
Issuances 133 231  
Interest accrual 43 78  
Benefit payments (54) (108)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 2,226 2,126  
Effect of changes in discount rate assumptions (246) (279)  
Ending balance 1,980 1,847  
Net liability for future policy benefits 1,003 938  
Less: reinsurance recoverable 22 18  
Net liability for future policy benefits after reinsurance recoverable 981 920  
Aflac U.S. | Accident      
Present value of expected future net premiums:      
Beginning balance 2,497 2,488  
Beginning balance at original discount rate 2,687 2,630  
Effect of changes in cash flow assumptions   0 65
Effect of actual variances from expected experience   1 66
Adjusted beginning of period balance   2,688 2,761
Issuances 169 307  
Interest accrual 55 106  
Net premiums collected [1] (242) (479)  
Foreign currency translation 0 0  
Other (3) (8)  
Ending balance at original discount rate 2,667 2,687  
Effect of changes in discount rate assumptions (143) (190)  
Ending balance 2,524 2,497  
Present value of expected future policy benefits:      
Beginning balance 3,127 3,109  
Beginning balance at original discount rate 3,386 3,302  
Effect of changes in cash flow assumptions   0 109
Effect of actual variances from expected experience   (1) 91
Adjusted beginning of period balance   3,385 3,502
Issuances 173 311  
Interest accrual 68 133  
Benefit payments (272) (560)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 3,354 3,386  
Effect of changes in discount rate assumptions (200) (259)  
Ending balance 3,154 3,127  
Net liability for future policy benefits 630 630  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 630 630  
Aflac U.S. | Disability      
Present value of expected future net premiums:      
Beginning balance 1,635 1,652  
Beginning balance at original discount rate 1,726 1,738  
Effect of changes in cash flow assumptions   0 (47)
Effect of actual variances from expected experience   (11) 12
Adjusted beginning of period balance   1,715 1,703
Issuances 194 364  
Interest accrual 34 66  
Net premiums collected [1] (201) (401)  
Foreign currency translation 0 0  
Other (2) (6)  
Ending balance at original discount rate 1,740 1,726  
Effect of changes in discount rate assumptions (59) (91)  
Ending balance 1,681 1,635  
Present value of expected future policy benefits:      
Beginning balance 2,330 2,422  
Beginning balance at original discount rate 2,466 2,541  
Effect of changes in cash flow assumptions   0 (73)
Effect of actual variances from expected experience   (22) (16)
Adjusted beginning of period balance   2,444 2,452
Issuances 204 381  
Interest accrual 49 98  
Benefit payments (237) (465)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 2,460 2,466  
Effect of changes in discount rate assumptions (93) (136)  
Ending balance 2,367 2,330  
Net liability for future policy benefits 686 695  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 686 695  
Aflac U.S. | Critical Care      
Present value of expected future net premiums:      
Beginning balance 3,901 4,074  
Beginning balance at original discount rate 4,340 4,416  
Effect of changes in cash flow assumptions   0 (106)
Effect of actual variances from expected experience   (9) (100)
Adjusted beginning of period balance   4,331 4,210
Issuances 308 543  
Interest accrual 89 173  
Net premiums collected [1] (294) (578)  
Foreign currency translation 0 0  
Other (3) (8)  
Ending balance at original discount rate 4,431 4,340  
Effect of changes in discount rate assumptions (364) (439)  
Ending balance 4,067 3,901  
Present value of expected future policy benefits:      
Beginning balance 10,701 11,290  
Beginning balance at original discount rate 12,013 12,120  
Effect of changes in cash flow assumptions   0 (112)
Effect of actual variances from expected experience   (21) (144)
Adjusted beginning of period balance   11,992 11,864
Issuances 322 559  
Interest accrual 259 515  
Benefit payments (492) (925)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 12,081 12,013  
Effect of changes in discount rate assumptions (1,139) (1,312)  
Ending balance 10,942 10,701  
Net liability for future policy benefits 6,875 6,800  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 6,875 6,800  
Aflac U.S. | Hospital Indemnity      
Present value of expected future net premiums:      
Beginning balance 1,122 1,107  
Beginning balance at original discount rate 1,221 1,193  
Effect of changes in cash flow assumptions   0 (21)
Effect of actual variances from expected experience   6 21
Adjusted beginning of period balance   1,227 1,193
Issuances 128 231  
Interest accrual 24 46  
Net premiums collected [1] (125) (244)  
Foreign currency translation 0 0  
Other (2) (5)  
Ending balance at original discount rate 1,252 1,221  
Effect of changes in discount rate assumptions (77) (99)  
Ending balance 1,175 1,122  
Present value of expected future policy benefits:      
Beginning balance 1,897 1,943  
Beginning balance at original discount rate 2,073 2,076  
Effect of changes in cash flow assumptions   0 (31)
Effect of actual variances from expected experience   2 21
Adjusted beginning of period balance   2,075 2,066
Issuances 132 237  
Interest accrual 43 84  
Benefit payments (161) (314)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 2,089 2,073  
Effect of changes in discount rate assumptions (142) (176)  
Ending balance 1,947 1,897  
Net liability for future policy benefits 772 775  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 772 775  
Aflac U.S. | Dental/Vision      
Present value of expected future net premiums:      
Beginning balance 196 206  
Beginning balance at original discount rate 209 217  
Effect of changes in cash flow assumptions   0 (17)
Effect of actual variances from expected experience   (6) (12)
Adjusted beginning of period balance   203 188
Issuances 29 52  
Interest accrual 4 9  
Net premiums collected [1] (20) (39)  
Foreign currency translation 0 0  
Other 0 (1)  
Ending balance at original discount rate 216 209  
Effect of changes in discount rate assumptions (9) (13)  
Ending balance 207 196  
Present value of expected future policy benefits:      
Beginning balance 441 478  
Beginning balance at original discount rate 477 506  
Effect of changes in cash flow assumptions   0 (28)
Effect of actual variances from expected experience   (7) (16)
Adjusted beginning of period balance   470 462
Issuances 29 55  
Interest accrual 10 20  
Benefit payments (30) (60)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 479 477  
Effect of changes in discount rate assumptions (27) (36)  
Ending balance 452 441  
Net liability for future policy benefits 245 245  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 245 245  
Aflac U.S. | Other      
Present value of expected future net premiums:      
Beginning balance 826 277  
Beginning balance at original discount rate 824 272  
Effect of changes in cash flow assumptions   0 (8)
Effect of actual variances from expected experience   43 13
Adjusted beginning of period balance   867 277
Issuances 305 592  
Interest accrual 26 25  
Net premiums collected [1] (52) (53)  
Foreign currency translation 0 0  
Other (24) (17)  
Ending balance at original discount rate 1,122 824  
Effect of changes in discount rate assumptions 38 2  
Ending balance 1,160 826  
Present value of expected future policy benefits:      
Beginning balance 1,288 798  
Beginning balance at original discount rate 1,293 769  
Effect of changes in cash flow assumptions   0 (12)
Effect of actual variances from expected experience   43 (7)
Adjusted beginning of period balance   1,336 $ 750
Issuances 304 597  
Interest accrual 38 50  
Benefit payments (94) (104)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 1,584 1,293  
Effect of changes in discount rate assumptions 38 (5)  
Ending balance 1,622 1,288  
Net liability for future policy benefits 462 462  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable $ 462 $ 462  
[1] Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.