Future Policy Benefits (Tables)

3 Months Ended

Mar. 31, 2023

Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense [Abstract]

Schedule of Balances and Changes in Present Value of Expected Net Premiums and Present Value of Expected Future Policy Benefits Underlying LFPB

The following tables summarize balances and changes in the present value of expected net premiums and the present value of expected future policy benefits underlying the LFPB:

	Three months ended			Year ended
	March 31, 2023			December 31, 2022
	(In thousands)
Present Value of Expected Net Premiums	Term Life
Balance at current discount rate, beginning of period	$	13,053,386		$	14,988,852
Balance at original discount rate, beginning of period		13,521,221			12,800,441
Effect of changes in cash flow assumptions		-			26,090
Effect of actual variances from expected experience		(66,059	)		8,653
Adjusted balance, beginning of period		13,455,162			12,835,184
Issuances		465,861			1,892,716
Interest accrual at original discount rate		130,130			486,436
Net premiums collected		(414,681	)		(1,623,000	)
Foreign currency translation		1,326			(70,115	)
Expected net premiums at original discount rate, end of period		13,637,798			13,521,221
Effect of changes in discount rate assumptions		(117,304	)		(467,835	)
Expected net premiums at current discount rate, end of period	$	13,520,494		$	13,053,386
Present Value of Expected Future Policy Benefits
Balance at current discount rate, beginning of period	$	19,143,253		$	23,309,576
Balance at original discount rate, beginning of period		19,706,818			18,991,175
Effect of changes in cash flow assumptions		-			29,915
Effect of actual variances from expected experience		(58,593	)		21,101
Adjusted balance, beginning of period		19,648,225			19,042,191
Issuances		465,885			1,892,730
Interest Accrual at original discount rate		206,814			796,017
Benefit payments		(467,008	)		(1,915,518	)
Foreign currency translation		2,016			(108,602	)
Expected future policy benefits at original discount rate, end of period		19,855,932			19,706,818
Effect of changes in discount rate assumptions		13,498			(563,565	)
Expected future policy benefits at current discount rate, end of period	$	19,869,430		$	19,143,253
LFPB	$	6,348,936		$	6,089,867
Less: reinsurance recoverables		3,154,789			3,153,121
Net LFPB, after reinsurance recoverables	$	3,194,147		$	2,936,746
Weighted-average duration of net LFPB		7.8			7.8

Schedule of Reconcile LFPB

The following table reconciles the LFPB to the condensed consolidated balance sheets:

	March 31, 2023		December 31, 2022
	(In thousands)
Term Life	$	6,348,936	$	6,089,867
Other		212,688		208,039
Total	$	6,561,624	$	6,297,906

Schedule of Reconcile Reinsurance Recoverables

The following table reconciles the reinsurance recoverables to the condensed consolidated balance sheets:

	March 31, 2023		December 31, 2022
	(In thousands)
Term Life	$	3,154,789	$	3,153,121
Other		24,285		23,276
Total	$	3,179,074	$	3,176,397

Schedule of Amount of Discounted (using the original discount rate) and Undiscounted Expected Gross Premiums and Expected Future Benefit Payments

The amount of discounted (using the original discount rate) and undiscounted expected gross premiums and expected future benefit payments were as follows:

	March 31, 2023				December 31, 2022
	(In thousands)
Term Life
	Undiscounted		Discounted		Undiscounted		Discounted
Expected future benefit payments	$	32,216,059	$	19,869,430	$	31,904,059	$	19,143,253
Expected future gross premiums	$	37,480,296	$	25,902,466	$	37,135,605	$	25,070,802

Schedule of Amount of Revenue and Interest Recognized

The amount of revenue and interest recognized in our unaudited condensed consolidated statements of income were as follows:

	Three months ended March 31,
	2023			2022
	(In thousands)
Term Life
Gross premiums	$	812,880		$	793,254
Interest accretion (expense)	$	(76,684	)	$	(76,496	)

Schedule of Weighted Average Rates

The weighted-average rates were as follows:

	March 31, 2023			December 31, 2022
	(In thousands)
Term Life
Original discount rate		4.95	%		5.00	%
Current discount rate		4.91	%		5.28	%