Reserves (Tables)

12 Months Ended

Dec. 31, 2015

Summary Of Reserve Information Of Major Product Lines

The following table provides reserve information of the Company’s major product lines at the dates shown:



	December 31, 2015								December 31, 2014
					Claims and Benefits Payable								Claims and Benefits Payable
	Future Policy Benefits and Expenses		Unearned Premiums		Case Reserves		Incurred But Not Reported Reserves		Future Policy Benefits and Expenses		Unearned Premiums		Case Reserves		Incurred But Not Reported Reserves
Long Duration Contracts:
Preneed funeral life insurance policies and investment-type annuity contracts	$	4,670,977	$	134,534	$	13,644	$	6,324	$	4,618,505	$	4,872	$	14,696	$	6,456
Life insurance no longer offered	407,360		427		2,360		1,070		418,672		570		2,272		1,301
Universal life and other products no longer offered	153,801		118		773		1,674		168,808		136		704		1,959
FFG, LTC and other disposed businesses	4,129,233		47,132		973,614		103,652		4,153,741		46,585		881,514		97,524
Medical	68,353		742		1,465		2,321		87,563		7,254		1,959		7,886
All other	36,970		404		12,855		10,836		36,383		382		13,863		9,803
Short Duration Contracts:
Group term life	—		2,431		166,920		30,857		—		2,905		169,006		28,786
Group disability	—		1,984		1,092,841		100,155		—		1,564		1,127,068		107,961
Medical	—		25,401		235,516		253,295		—		130,185		137,370		240,830
Dental	—		4,244		1,587		16,454		—		4,013		2,251		17,037
Property and warranty	—		2,223,589		182,095		507,310		—		2,386,719		130,517		546,979
Credit life and disability	—		181,466		25,966		35,718		—		241,092		34,581		43,298
Extended service contracts	—		3,669,859		7,258		33,928		—		3,568,352		6,780		42,054
All other	—		131,389		18,961		57,270		—		135,046		5,375		18,776
Total	$	9,466,694	$	6,423,720	$	2,735,855	$	1,160,864	$	9,483,672	$	6,529,675	$	2,527,956	$	1,170,650

Schedule Of Most Significant Claims And Benefits Payable

The following table provides a rollforward of the Company’s product lines with the most significant claims and benefits payable balances: group term life, group disability, medical and property and warranty lines of business. Claims and benefits payable is comprised of case and IBNR reserves.



	Group Term Life			Group Disability			Short Duration Medical (2)			Long Duration Medical (2)			Property and Warranty
Balance as of December 31, 2012, gross of reinsurance (3)	$	203,757		$	1,309,087		$	247,758		$	16,847		$	1,167,058
Less: Reinsurance ceded and other (1)	(2,817		)	(38,166		)	(16,447		)	(736		)	(715,058		)
Balance as of January 1, 2013, net of reinsurance	200,940			1,270,921			231,311			16,111			452,000
Incurred losses related to:
Current year	121,708			284,005			1,097,313			110,933			1,140,500
Prior year’s interest	7,773			56,705			—			—			—
Prior year (s)	(14,300		)	(29,975		)	(42,063		)	(3,971		)	(23,801		)
Total incurred losses	115,181			310,735			1,055,250			106,962			1,116,699
Paid losses related to:
Current year	75,119			70,236			894,533			98,183			802,130
Prior year (s)	43,694			278,559			184,824			11,869			310,660
Total paid losses	118,813			348,795			1,079,357			110,052			1,112,790
Balance as of December 31, 2013, net of reinsurance (3)	197,308			1,232,861			207,204			13,021			455,909
Plus: Reinsurance ceded and other (1)	2,463			38,990			14,978			618			183,315
Balance as of December 31, 2013, gross of reinsurance (3)	$	199,771		$	1,271,851		$	222,182		$	13,639		$	639,224
Less: Reinsurance ceded and other (1) (4)	(2,463		)	(38,990		)	(14,978		)	(618		)	(229,038		)
Balance as of January 1, 2014, net of reinsurance	197,308			1,232,861			207,204			13,021			410,186
Incurred losses related to:
Current year	124,228			285,095			1,782,891			128,093			1,401,187
Prior year’s interest	7,548			53,657			—			—			—
Prior year(s)	(16,560		)	(36,003		)	(51,352		)	(4,044		)	(2,848		)
Total incurred losses	115,216			302,749			1,731,539			124,049			1,398,339
Paid losses related to:
Current year	77,113			80,172			1,424,448			118,842			988,075
Prior year (s)	41,028			262,023			151,298			8,829			323,795
Total paid losses	118,141			342,195			1,575,746			127,671			1,311,870
Balance as of December 31, 2014, net of reinsurance (3)	194,383			1,193,415			362,997			9,399			496,655
Plus: Reinsurance ceded and other (1)	3,409			41,614			15,203			446			180,841
Balance as of December 31, 2014, gross of reinsurance (3)	$	197,792		$	1,235,029		$	378,200		$	9,845		$	677,496
Less: Reinsurance ceded and other (1)	(3,409		)	(41,614		)	(15,203		)	(446		)	(180,841		)
Balance as of January 1, 2015, net of reinsurance	194,383			1,193,415			362,997			9,399			496,655
Incurred losses related to:
Current year	132,330			264,077			2,404,632			80,845			1,105,991
Prior year’s interest	7,317			51,798			—			—			—
Prior year (s)	(17,513		)	(18,540		)	(36,795		)	(2,483		)	(43,619		)
Total incurred losses	122,134			297,335			2,367,837			78,362			1,062,372
Paid losses related to:
Current year	82,847			76,000			2,016,726			77,427			752,752
Prior year (s)	38,643			263,412			318,327			6,709			317,589
Total paid losses	121,490			339,412			2,335,053			84,136			1,070,341
Balance as of December 31, 2015, net of reinsurance (3)	195,027			1,151,338			395,781			3,625			488,686
Plus: Reinsurance ceded and other (1)	2,750			41,658			93,030			161			200,719
Balance as of December 31, 2015, gross of reinsurance (3)	$	197,777		$	1,192,996		$	488,811		$	3,786		$	689,405

(1)

Reinsurance ceded and other includes claims and benefits payable balances that have either been (a) reinsured to third parties, (b) established for claims related expenses whose subsequent payment is not recorded as a paid claim, or (c) reserves established for obligations that would persist even if contracts were cancelled (such as extension of benefits), which cannot be analyzed appropriately under a roll-forward approach.


(2)	Short duration and long duration medical methodologies used for settling claims and benefits payable are similar.


(3)	The Company’s net retained credit life and disability claims and benefits payable were $33,852, $45,096 and $54,483 at December 31, 2015, 2014 and 2013.


(4)	Includes the reclassification of assets held for sale as described in Note 4.