# ASC 944-40-45: Financial Services—Insurance — Claim Costs and Liabilities for Future Policy Benefits — 45 Other Presentation Matters Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/944/40/#45-other-presentation-matters) Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T02:16:46.680Z to 2026-09-10T02:16:46.680Z Record version: sha256:36e740cff588237d8dfe950a3ee53b22a91211b391eb95e860705f536b53dd48 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 944-40-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/944/40/#45-other-presentation-matters) SEC content: no ### Long-Duration Contracts #### Universal Life-Type Contracts and Nontraditional Contract Benefits ##### [944-40-45-1](https://asc.understandingaccounting.org/asc/944/40/#944-40-45-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:46.680Z to 2026-09-10T02:16:46.680Z Record version: sha256:13ef5f242390a4d8b57a9e88ac6cfdd4df6078d2fa6fde2f3484386079103902 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The change in the estimate of the additional liability for death or other insurance benefits recognized under the guidance in paragraph [944-40-25-27A](https://asc.understandingaccounting.org/asc/944/40/#944-40-25-27A) as of the beginning of the current period (that is, the liability remeasurement gain or loss as a result of applying the revised benefit ratio) shall be presented as a separate component of total benefit expense in the statement of operations, either parenthetically or as a separate line item. The liability remeasurement gain or loss may be reported together with the liability remeasurement gain or loss related to [annuitization](https://asc.understandingaccounting.org/glossary/a/#annuitization "Annuitization refers to the policyholder receiving periodic payments under various payment options, including their remaining life or for a term-certain period.") benefits and traditional and [limited-payment contracts](https://asc.understandingaccounting.org/glossary/l/#limited-payment-contracts "Long-duration insurance contracts with terms that are fixed and guaranteed, and for which premiums are paid over a period shorter than the period over which benefits are provided. Limited-payment contracts subject the insurer to risks arising from policyholder mortality and morbidity over a period that extends beyond the period or periods in which premiums are collected."). ##### [944-40-45-2](https://asc.understandingaccounting.org/asc/944/40/#944-40-45-2) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:46.680Z to 2026-09-10T02:16:46.680Z Record version: sha256:f9cce829a60de080b927f660959c5fc151a9502ba74e437d1375fc66c9af0d94 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The change in the estimate of the additional liability for annuitization benefits recognized under the guidance in paragraph [944-40-25-27](https://asc.understandingaccounting.org/asc/944/40/#944-40-25-27) as of the beginning of the current period (that is, the liability remeasurement gain or loss as a result of applying the revised benefit ratio) shall be presented as a separate component of total benefit expense in the statement of operations, either parenthetically or as a separate line item. The liability remeasurement gain or loss may be reported together with the liability remeasurement gain or loss related to death or other insurance benefits and traditional and limited-payment contracts. ##### [944-40-45-3](https://asc.understandingaccounting.org/asc/944/40/#944-40-45-3) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:46.680Z to 2026-09-10T02:16:46.680Z Record version: sha256:b054ef9278493479809077bebcc9cb341af5c5ea1076f6f68ecde55506c72001 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The carrying amount of [market risk benefits](https://asc.understandingaccounting.org/glossary/m/#market-risk-benefit "A contract or contract feature in a long-duration contract issued by an insurance entity that both protects the contract holder from other-than-nominal capital market risk and exposes the insurance entity to other-than-nominal capital market risk.") shall be presented separately in the statement of financial position. The change in [fair value](https://asc.understandingaccounting.org/glossary/f/#fair-value "The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.") related to market risk benefits shall be presented separately in net income, except fair value changes attributable to a change in the instrument-specific credit risk of market risk benefits in a liability position. The portion of a fair value change attributable to a change in the instrument-specific credit risk of market risk benefits in a liability position shall be presented separately in other comprehensive income. #### Traditional and Limited-Payment Contracts ##### [944-40-45-4](https://asc.understandingaccounting.org/asc/944/40/#944-40-45-4) Pending content: no Source downloaded (UTC): 2026-09-10T02:16:46.680Z to 2026-09-10T02:16:46.680Z Record version: sha256:99060b0b352f8d6afc10029b655059a2978fdc1dd4ac091821617c438b855a6c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The current-period change in estimate of the liability for future policy benefits (that is, the liability remeasurement gain or loss) calculated under paragraph [944-40-35-6A(a)(1)](https://asc.understandingaccounting.org/asc/944/40/#944-40-35-6A) shall be presented as a separate component of total benefit expense in the statement of operations, either parenthetically or as a separate line item. For limited-payment contracts, the corresponding current-period change in estimate of the deferred profit liability (that is, the liability remeasurement gain or loss) calculated under paragraph [944-605-35-1C](https://asc.understandingaccounting.org/asc/605/944/#605-944-35-1C) shall be presented separately in net income, either parenthetically or as a separate line item. The liability remeasurement gain or loss for traditional and limited-payment contracts may be reported together with the liability remeasurement gain or loss related to annuitization benefits and death or other insurance benefits.