Retirement and Compensation Plans

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Compensation and Employee Benefit Plans [Text Block]

Defined Benefit Pension Plans

We participate in various defined benefit pension plans (the Plans), including a multiemployer plan. The multiemployer plan is considered qualified under Internal Revenue Service regulations, and covers our employees and the employees of the other participating companies who had attained age 21, had one year of service, and were employed prior to January 1, 2013. We also have a plan that provides supplemental pension benefits to certain highly compensated employees who have salaries and/or pension benefits in excess of the qualified limits imposed by federal law and were employed prior to January 1, 2013. Benefits under these plans are based on years of service and the employee's compensation. The plans are discussed below.

Multiemployer Defined Benefit Plan

The FBL Financial Group Retirement Plan (the Multiemployer Plan) is considered a multiemployer plan, with the participation of unaffiliated and affiliated organizations along with FBL Financial Group, Inc. and its subsidiaries. Under the multiemployer plan structure, our contributions are commingled with those of the other employers to fund the plan benefit obligations. Should a participating employer be unable to provide funding, the remaining employers would be required to continue funding all future obligations. If an employer elects to discontinue participation, prior to departure they will be required to contribute their portion of the underfunded pension obligation associated with their employees. This required contribution will be based on an actuarial estimate of future benefit obligations, which as an estimate may not ultimately be sufficient to fund future actual benefits. None of the participating employers have provided notice that they would be discontinuing participation in the Multiemployer Plan or would otherwise be unable to continue providing their share of required funding as of December 31, 2016.

Contributions are made each year, resulting in the Multiemployer Plan being partially funded for payment of projected future benefit obligations. Effective in 2013, the Multiemployer Plan was closed to new participants and those participants who had not attained age 40 and 10 years of service as of December 31, 2012 no longer accrued additional years of service in the Multiemployer Plan.

Multiemployer Plan name		FBL Financial Group Retirement Plan
Employer identification number		42-1411715
Plan number		001
FBL's contributions (in thousands)
	2016	$30,000
	2015	$30,000
	2014	$16,800

Net periodic pension cost of the Multiemployer Plan is allocated between participating employers on a basis of time incurred by the respective employees for each employer. Such allocations are reviewed annually. This Multiemployer Plan is not subject to collective bargaining agreements, a financial improvement plan or a rehabilitation plan. No surcharges were required to be paid to the Multiemployer Plan during 2016, 2015 or 2014. We are the primary employer in the Multiemployer Plan, providing more than 5 percent of the total contributions during 2016, 2015 and 2014.

Other Defined Benefit Plans

The other defined benefit plans (the Other Plans) provide benefits in addition to those offered under the Multiemployer Plan to certain of our employees or those of our affiliates. These non-qualified benefit plans are not funded, contributions are provided as current benefit obligations become due. Net periodic pension cost of the Other Plans is allocated between the subsidiaries of FBL Financial Group, Inc. and the Farm Bureau affiliated property-casualty companies on a basis of time incurred by the respective employees for each company.

Funding Status and Net Periodic Pension Costs

	Multiemployer Plan						Other Plans
	As of and for the year ended December 31,						As of and for the year ended December 31,
	2016			2015			2016			2015
	(Dollars in thousands)
Change in projected benefit obligation:
Net benefit obligation at beginning of the year	$	319,420		$	339,139		$	22,275		$	26,729
Service cost	5,795			5,892			335			435
Interest cost	14,447			13,472			966			1,000
Actuarial loss (gain)	15,767			(13,281		)	3,317			(2,812		)
Benefits paid	(18,975		)	(2,501		)	(2,308		)	(3,077		)
Settlements	—			(23,301		)	—			—
Projected benefit obligation	336,454			319,420			24,585			22,275
Change in plan assets:
Fair value of plan assets at beginning of the year	262,276			257,010			—			—
Actual return on plan assets	17,770			1,068			—			—
Employer contributions	30,000			30,000			2,308			3,077
Benefits paid	(18,975		)	(2,501		)	(2,308		)	(3,077		)
Settlements	—			(23,301		)	—			—
Fair value of plan assets at end of the year	291,071			262,276			—			—
Underfunded status at end of the year	$	(45,383	)	$	(57,144	)	$	(24,585	)	$	(22,275	)
Accumulated benefit obligation	$	297,753		$	279,858		$	21,407		$	20,980

For all the Plans we participate in, the accumulated benefit obligation exceeds the fair value of plan assets. The projected benefit obligations, accumulated benefit obligation and fair value of plan assets are included above.

Net Periodic Pension Costs Incurred by the Plans

	Multiemployer Plan									Other Plans
	As of and for the year ended December 31,									As of and for the year ended December 31,
	2016			2015			2014			2016			2015			2014
	(Dollars in thousands)
Service cost	$	5,795		$	5,892		$	5,295		$	335		$	435		$	269
Interest cost	14,447			13,472			13,919			966			1,000			1,077
Expected return on assets	(17,865		)	(17,563		)	(17,504		)	—			—			—
Amortization of prior service cost	144			144			144			(1		)	(11		)	(11		)
Amortization of actuarial loss	9,432			10,464			6,087			918			1,528			1,131
Effect of settlement	—			7,998			6,306			—			—			—
Net periodic pension cost	$	11,953		$	20,407		$	14,247		$	2,218		$	2,952		$	2,466
FBL Financial Group, Inc. share of net periodic pension cost	$	3,807		$	6,614		$	4,569		$	1,260		$	1,671		$	1,372

Pension settlement charges were recognized after determining the total cash payments exceeded the sum of the service and interest cost for 2015 and 2014.

The Plans' prior service costs are amortized using a straight-line amortization method over the average remaining service period of the employees. For actuarial gains and losses, we use a corridor (10% of the greater of the projected benefit obligation or the market value of plan assets) to determine the amounts to amortize. For the Multiemployer Plan it is expected that net periodic pension cost in 2017 will include $10.1 million for amortization of the actuarial loss and $0.1 million of prior service cost amortization. For the Other Plans it is expected that net periodic pension cost in 2017, included in accumulated other comprehensive income, will include $1.2 million for amortization of the actuarial loss.

We expect contributions to be paid to the Multiemployer Plan by us and affiliates for 2017 to be approximately $15.0 million, of which $4.8 million is expected to be contributed by us. We expect contributions to be paid to the Other Plans by us and affiliates for 2017 to be approximately $1.9 million, of which $0.9 million is expected to be contributed by us. Expected benefits to be paid under the Multiemployer Plan are as follows: 2017 - $14.4 million, 2018 - $16.8 million, 2019 - $17.3 million, 2020 - $19.6 million, 2021 - $19.4 million and 2022 through 2026 - $115.4 million. Expected benefits to be paid under the Other Plans are as follows: 2017 - $2.4 million, 2018 - $2.5 million, 2019 - $3.2 million, 2020 - $2.6 million, 2021 - $2.3 million and 2022 through 2026 - $9.4 million.

FBL's Proportionate Share of Prepaid or Accrued Pension Cost

	Multiemployer Plan				Other Plans
	As of and for the year ended December 31,				As of and for the year ended December 31,
	2016		2015		2016			2015
	(Dollars in thousands)
Amount recognized in FBL's statement of financial position
Prepaid benefit cost	$	26,006	$	20,258	$	876		$	969
Accrued benefit cost	—		—		(19,159		)	(16,746		)
Net amount recognized	$	26,006	$	20,258	$	(18,283	)	$	(15,777	)
Amount recognized in FBL's accumulated other comprehensive income, before taxes (1)
Net actuarial loss					$	12,094		$	9,695
Prior service cost					—			(1		)
Net amount recognized					$	12,094		$	9,694

(1) For our Multiemployer Plan, the underfunded portion of the pension benefit obligation is not required to be recognized as a liability in our consolidated balance sheets. The unrecognized liability for the underfunded status of our Multiemployer Plan totaled $45.4 million at December 31, 2016 and $57.1 million at December 31, 2015.

Weighted Average Assumptions Used to Determine Benefit Obligation
	December 31
	2016		2015
Discount rate	4.29	%	4.65	%
Annual salary increases	3.31	%	3.31	%

We estimate the discount rate by projecting and discounting future benefit payments inherent in the projected benefit obligation using a commercially available "spot" yield curve constructed using techniques and a bond universe specifically selected to meet the accounting standard requirements.

Weighted Average Assumptions Used to Determine Net Periodic Pension Cost
	Year Ended December 31,
	2016		2015	2014
Discount rate	4.65	%	4.52% / 4.05%	4.42% / 4.99%
Expected long-term return on plan assets	6.75	%	6.75% / 7.00%	7.00	%
Annual salary increases	3.31	%	3.31% / 3.00%	3.00	%

The discount rate was 4.05% for the nine months ended September 30, 2015 and 4.52% for the three months ended December 31, 2015 due to remeasurement at September 30, 2015 for settlement accounting. The discount rate was 4.99% for the nine months ended September 30, 2014 and 4.42% for the three months ended December 31, 2014 due to remeasurement at September 30, 2014 for settlement accounting. Our expected long-term return on plan assets represents the rate of earnings expected in the funds invested to provide for anticipated benefit payments. We have analyzed the expected rates of return on assets and determined that the long-term return assumption is reasonable based on the current and expected asset allocations and on the Multiemployer Plan's historical investment performance. We also completed an actuarial study of our assumptions during 2015. At the remeasurement, this resulted in reducing the expected long-term return on plan assets from 7.00% to 6.75% and increasing assumed annual salary increases from 3.00% to 3.31%.

Multiemployer Plan Assets

The Multiemployer Plan assets are primarily invested in annuity products and insurance company pooled separate accounts that invest predominately in equity securities and real estate. We have certain pension obligations that are fully funded through annuity contracts with Farm Bureau Life, which are presented as funded annuity contracts below. For 2016, excluding the funded annuity contracts, we employed a long-term investment strategy of diversifying the Multiemployer Plan assets with 55% in fixed income investments, 40% in equities and 5% in alternative investments. At December 31, 2016, the Multiemployer Plan assets were invested approximately 56% in fixed income investments, 41% in diversified equities and 3% in alternative investments. The fixed income investments consist primarily of the group annuity contract and fixed income securities held in pooled separate accounts. The equity securities are in pooled separate accounts and mutual funds. The alternative investments consist of interests in limited partnerships that own various liquid and illiquid assets. Our investment strategy is to (1) achieve a long-term return sufficient to satisfy all Multiemployer Plan obligations, (2) assume a prudent level of risk and (3) maintain adequate liquidity. The expected return on Multiemployer Plan assets is set at the long-term rate expected to be earned based on the long-term investment strategy of the Multiemployer Plan. In estimating the expected rate of return for each asset class, we take into account factors such as historical rates of return, expected future risk-free rates of return and anticipated returns expected given the risk profile of each asset class.

The valuation methodologies used for assets measured at fair value are:

• Group and funded annuity contracts: contract value is equivalent to fair value, as the interest-crediting rates are periodically reset to market at the discretion of the issuer.

• Pooled separate accounts: the net asset value of our separate account shares is based on the latest quoted market price of the underlying investments or in the case of a real estate separate account, estimates of the current market value of the underlying property held.

• Mutual funds: the net asset value of our mutual funds is based on quoted market prices available in active markets.

• Alternative investments: the carrying value of the limited partnership interests reflects the Plan’s proportionate share of the net asset value of those partnerships, which is derived from the fair value of the underlying holdings.

The pension financial instruments measured and reported at fair value are classified and disclosed in one of the following categories:

Level 1 - Unadjusted quoted prices in active markets for identical assets that are accessible to us at the measurement date.

Level 2 - Inputs other than quoted prices in active markets for identical assets that are either directly or indirectly observable for substantially the full term of the asset or liability.

Level 3 - Inputs are unobservable and require management's judgment about the assumptions that market participants would use in pricing the assets.

Fair Values of the Multiemployer Plan Assets by Asset Category and Hierarchy Levels
	December 31, 2016
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
	(Dollars in thousands)
Mutual funds: (1)
U.S. equity funds	$	35,888	$	—	$	—	$	35,888
International funds	35,709		—		—		35,709
Pooled separate accounts: (1)
Short-term fixed income funds	—		606		—		606
Fixed income funds	—		14,271		—		14,271
U.S. equity funds	—		28,640		—		28,640
Real estate fund	—		14,346		—		14,346
Annuities: (2)
Group annuity contract	—		—		141,782		141,782
Funded annuity contracts	—		—		11,382		11,382
Alternative investments: (3)
Limited partnerships	—		—		8,447		8,447
Total	$	71,597	$	57,863	$	161,611	$	291,071

	December 31, 2015
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
	(Dollars in thousands)
Mutual funds: (1)
U.S. equity funds	$	30,326	$	—	$	—	$	30,326
International funds	29,140		—		—		29,140
Pooled separate accounts: (1)
Short-term fixed income funds	—		1,584		—		1,584
Fixed income funds	—		11,468		—		11,468
U.S. equity funds	—		24,091		—		24,091
Real estate fund	—		12,660		—		12,660
Annuities: (2)
Group annuity contract	—		—		134,749		134,749
Funded annuity contracts	—		—		11,996		11,996
Alternative investments: (3)
Limited partnerships	—		—		6,262		6,262
Total	$	59,466	$	49,803	$	153,007	$	262,276

(1) Represents mutual funds and pooled separate account investments with Principal Life Insurance Company.

(2) Represents group annuity contracts with Farm Bureau Life.

(3) Represents interests in several limited partnerships.

Level 3 Multiemployer Plan Asset Changes in Fair Value
	December 31, 2016
						Return on assets
	December 31, 2015		Purchases (disposals), net			Held at year end		Sold during year		Transfers into (out) of level 3		December 31, 2016
	(Dollars in thousands)
Group annuity contract	$	134,749	$	1,334		$	5,699	$	—	$	—	$	141,782
Funded annuity contracts	11,996		(1,287		)	673		—		—		11,382
Limited partnerships	6,262		1,536			649		—		—		8,447
Total	$	153,007	$	1,583		$	7,021	$	—	$	—	$	161,611

	December 31, 2015
						Return on assets
	December 31, 2014		Purchases (disposals), net			Held at year end		Sold during year		Transfers into (out) of level 3		December 31, 2015
	(Dollars in thousands)
Group annuity contract	$	128,244	$	1,156		$	5,349	$	—	$	—	$	134,749
Funded annuity contracts	12,298		(1,012		)	710		—		—		11,996
Limited partnerships	4,520		1,680			62		—		—		6,262
Total	$	145,062	$	1,824		$	6,121	$	—	$	—	$	153,007

Postemployment Benefits Disclosure [Text Block]

Other Retirement Plans

We participate with several affiliates in a 401(k) defined contribution plan, which covers substantially all employees. We match employee contributions up to 2% or 4% of the eligible compensation contributed by the employee and at an amount equal to 50% of an employee's contributions on the next 2% of the eligible compensation contributed by the employee. As shown in the table below, certain employees will also receive an annual discretionary employer contribution based on age plus years of service ranging from 2.75% to 5.75% as a percent of pay. Costs are allocated among the affiliates on a basis of time incurred by the respective employees for each company. Our expense related to this plan totaled $2.4 million in 2016, $2.2 million in 2015 and $2.0 million in 2014.

Attained age 40 and 10 years of service at December 31, 2012	Accruing years of service in the Multiemployer Plan	100% Employer Match	50% Employer Match	Discretionary Employer Contribution
Yes	Yes	first 2% of employee's contributions	employee contributions between 2% and 4%	No
No	No	first 4% of employee's contributions	employee contributions between 4% and 6%	2.75% to 5.75%

We have established deferred compensation plans for certain key current and former employees and have certain other benefit plans that provide for retirement and other benefits. Liabilities for these plans are accrued as the related benefits are earned.

Certain of the assets related to these plans are on deposit with us and amounts relating to these plans are included in our financial statements. In addition, certain amounts included in the policy liabilities for interest sensitive products relate to deposit administration funds maintained by us on behalf of affiliates.

In addition to benefits offered under the aforementioned benefit plans, we and several other affiliates participate in a plan that provides group term life insurance benefits to retirees who have worked full-time for ten years and attained age 55 while in service. Postretirement benefit expense for this plan is allocated in a manner consistent with pension expense discussed above. We also have two single-employer plans that provide health and medical benefits to a small group of retirees. Postretirement benefit (income)/expense totaled ($0.1) million in 2016 and $0.1 million in 2015and 2014. Changes in the underfunded portion of these plans, reported in other comprehensive income, aggregated less than ($0.1) million in 2016 and 2015 and $0.1 million in 2014. In addition to the health and medical postretirement plans being frozen to new participants, the group term life plan will no longer be offered to employees retiring after December 31, 2016. Due to this change, we recognized $0.2 million in curtailment gain in the fourth quarter of 2016.

Compensation and Employee Benefit Plans [Text Block]

Share-based Compensation Plans

The share-based payment arrangements under our Class A Common Stock Compensation Plan are described below. We allocate a portion of the expense for these arrangements to affiliates; expense amounts below represent our share of these expenses. Expenses have been fully recognized under this plan as of December 31, 2014. Compensation expense for these arrangements totaled $0.2 million for 2014. The income tax benefit recognized in the statements of operations for these arrangements totaled less than $0.1 million for 2014.

We also have a Cash-Based Restricted Stock Unit Plan. Compensation expense for arrangements under this plan totaled $2.3 million for 2016, $1.7 million for 2015 and $1.0 million for 2014. The income tax benefit recognized in the statements of operations for this arrangement totaled $1.2 million in 2016, $0.9 million in 2015 and $0.6 million in 2014.

Stock Option Awards

Prior to 2012, we granted stock options for Class A common stock to officers and employees, which have a contractual term of 10 years and vest over a period up to five years, contingent upon continued employment with us. Prior to 2009, we also granted stock options for Class A common stock to directors, which were fully vested upon grant and had a contractual term that varied with the length of time the director remained on the Board, up to 10 years. The exercise price for all options is equal to the fair value of the common stock on the grant date. The fair value of each option award was estimated on the date of grant using a Black-Scholes-Merton option valuation model. The risk-free interest rate was based on the U.S. Treasury yield curve in effect at the time of grant. We used the historical realized volatility of our stock for the expected volatility assumption within the valuation model. The weighted average expected term for the majority of our options was calculated using average historical behavior.

In 2014, we accelerated the vesting of all unvested options. Accordingly, the expense related to nonvested share-based compensation granted under the stock option arrangement has been fully recognized at December 31, 2014.

Stock Option Activity
	Number of Shares		Weighted-Average Exercise Price per Share		Weighted-Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (1)
	(Dollars in thousands, except per share data)
Shares under option at January 1, 2016	134,848		$	28.07
Exercised	(89,453	)	28.44
Forfeited or expired	—		—
Shares under option at December 31, 2016	45,395		27.35		2.01	$	2,306
Vested at December 31, 2016	45,395		$	27.35	2.01	$	2,306
Exercisable options at December 31, 2016	45,395		$	27.35	2.01	$	2,306

(1) Represents the difference between the share price and exercise price for each option, excluding options where the exercise price is above the share price, at December 31, 2016.

The intrinsic value of options exercised during the year totaled $3.2 million for 2016, $4.5 million for 2015 and $6.5 million for 2014.

We issue new shares to satisfy stock option exercises.    Cash received from stock options exercised totaled $2.5 million for 2016, $3.7 million for 2015 and $10.5 million for 2014. The actual tax benefit realized from stock options exercised totaled $1.0 million for 2016, $1.4 million for 2015 and $2.2 million for 2014.

Cash-Based Restricted Stock Units

We annually grant performance and non-performance cash-based restricted stock units to certain executives. The restricted stock units will vest and be paid out in cash over 5 years, contingent on continued employment with us. The performance units have the same vesting requirements, but are also contingent upon meeting a financial goal. Non-performance based units were also granted to certain executives in 2012 that were vested and paid out in cash after a two-year required service period.

The amount payable per unit awarded is equal to the price per share of the Company's common stock at settlement of the award, and as such, we measure the value of the award each reporting period based on the current stock price. The effects of changes in the stock price during the service period are recognized as compensation cost over the service period.

Restricted Stock Unit Activity
	Number of Units		Weighted-Average Grant-Date Fair Value per Unit
Restricted stock units at January 1, 2016	145,415		$	42.36
Granted	25,075		60.34
Vested	(40,155	)	40.58
Forfeited or canceled	(8,818	)	50.00
Restricted stock units at December 31, 2016	121,517		46.10

The weighted average grant-date fair value per common share of restricted stock units granted was $60.34 in 2016, $52.19 in 2015 and $38.63 in 2014. Unrecognized compensation expense related to unvested restricted stock units based on the stock price at December 31, 2016 totaled $4.1 million. This expense is expected to be recognized over a weighted-average period of 1.83 years. Dividends are paid on restricted stock units upon vesting. Cash payments including dividends for restricted stock units totaled $2.7 million in 2016 and $1.8 million in 2015 and 2014.

Other

We have a Director Compensation Plan under which non-employee directors on our Board may elect to receive a portion of their compensation in the form of cash or deferred cash-based stock units. Cash-based stock units outstanding under this plan totaled 24,923 at December 31, 2016 and 22,874 at December 31, 2015. Prior to 2012, deferred stock units were used instead of deferred cash-based stock units. Under this plan, we have deferred stock units outstanding totaling 57,876 at December 31, 2016 and 56,868 at December 31, 2015. At December 31, 2016, there were 110,864 shares of Class A common stock available for future issuance under the Director Compensation Plan.

We also have an Executive Salary and Bonus Deferred Compensation Plan under which certain officers of the Company were allowed to use their base salary and annual cash bonus to purchase deferred cash-based stock units. Cash-based stock units outstanding under this plan totaled 16,323 at December 31, 2016 and 16,679 at December 31, 2015. Prior to 2012, deferred stock units were used instead of deferred cash-based stock units. Under this plan, we have deferred stock units outstanding totaling 63,909 at December 31, 2016 and 66,621 at December 31, 2015. At December 31, 2016, shares of Class A common stock available for future issuance under this plan totaled 99,933. This plan was frozen to future deferrals on December 31, 2013.

We also have an Executive Excess 401(k) Plan under which officers of the Company who met salary guidelines and 401(k) contribution guidelines were allowed to purchase unregistered deferred cash-based stock units. Cash-based stock units outstanding under this plan totaled 89 at December 31, 2016 and 84 at December 31, 2015. Prior to 2012, deferred stock units were used instead of deferred cash-based stock units. Under this plan, we have deferred stock units outstanding totaling 3,168at December 31, 2016 and 2,991 at December 31, 2015. This plan was frozen to future deferrals on December 31, 2013.