Future Policy Benefits (Tables)

12 Months Ended

Dec. 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:

	Year ended December 31,
	2023			2022
	(Dollars in thousands)
Present Value of Expected Net Premiums	Term Life Insurance
Balance at then 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		(5,364	)		26,090
Effect of actual variances from expected experience		(229,884	)		8,653
Adjusted balance, beginning of period		13,285,973			12,835,184
Issuances		1,836,290			1,892,716
Interest accrual at original discount rate		544,806			486,436
Net premiums collected		(1,682,924	)		(1,623,000	)
Foreign currency translation		28,408			(70,115	)
Expected net premiums at original discount rate, end of period		14,012,553			13,521,221
Effect of changes in discount rate assumptions		(35,200	)		(467,835	)
Expected net premiums at then current discount rate, end of period	$	13,977,353		$	13,053,386
Present Value of Expected Future Policy Benefits
Balance at then 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		(7,254	)		29,915
Effect of actual variances from expected experience		(225,539	)		21,101
Adjusted balance, beginning of period		19,474,025			19,042,191
Issuances		1,840,996			1,892,730
Interest Accrual at original discount rate		856,727			796,017
Benefit payments		(1,823,542	)		(1,915,518	)
Foreign currency translation		43,488			(108,602	)
Expected future policy benefits at original discount rate, end of period		20,391,694			19,706,818
Effect of changes in discount rate assumptions		116,741			(563,565	)
Expected future policy benefits at then current discount rate, end of period	$	20,508,435		$	19,143,253
LFPB	$	6,531,082		$	6,089,867
Less: reinsurance recoverables		3,001,074			3,186,264
Net LFPB, after reinsurance recoverables	$	3,530,008		$	2,903,603
Weighted-average duration of net LFPB (in years)		7.9			7.8

Schedule of Reconcile LFPB

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

	December 31, 2023		December 31, 2022
	(In thousands)
Term Life Insurance	$	6,531,082	$	6,089,867
Other		210,943		208,039
Total	$	6,742,025	$	6,297,906

Schedule of Reconcile Reinsurance Recoverables

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

	December 31, 2023		December 31, 2022
	(In thousands)
Term Life Insurance	$	3,001,074	$	3,186,264
Other		14,703		23,276
Total	$	3,015,777	$	3,209,540

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

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

	December 31, 2023				December 31, 2022
	(In thousands)
Term Life Insurance
	Undiscounted		Discounted		Undiscounted		Discounted
Expected future benefit payments	$	33,342,272	$	20,508,435	$	31,904,059	$	19,143,253
Expected future gross premiums	$	38,701,869	$	26,687,880	$	37,135,605	$	25,070,802

Schedule of Amount of Revenue and Interest Recognized

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

	Year ended December 31,
	2023			2022			2021
	(In thousands)
Term Life Insurance
Gross premiums	$	3,292,760		$	3,209,088		$	3,099,828
Interest accretion (expense)	$	(311,921	)	$	(309,581	)	$	(327,378	)

Schedule of Weighted Average Rates

The weighted-average discount rates were as follows:

	December 31, 2023			December 31, 2022
Term Life Insurance
Original discount rate		4.93	%		5.00	%
Current discount rate		4.91	%		5.28	%