Policyholders' Liabilities

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

Long-Duration Insurance Contracts Disclosure [Text Block]

LIABILITY FOR FUTURE POLICY BENEFITS

The following tables summarize balances of and changes in the liability for future policy benefits for our reporting cohorts: Permanent, which summarizes insurance policies with premiums payable over the lifetime of the policy,

and Permanent Limited Pay, which summarizes insurance policies with premiums payable for a limited time after which the policy is fully paid up. Both reporting cohorts include whole life and endowment policies.

December 31, 2024 (In thousands)	Life Insurance				Home Service Insurance
	Permanent		Permanent Limited Pay	Total	Permanent	Permanent Limited Pay	Total
Present Value of Expected Net Premiums:
Balance, beginning of year	$	244,917	13,260	258,177	98,831	14,926	113,757
Beginning balance at original discount rate	252,426		13,533	265,959	102,045	15,512	117,557
Effect of changes in cash flow assumptions	17,731		274	18,005	(462)	22	(440)
Effects of actual variances from expected experience	(17,588)		1,646	(15,942)	(7,931)	(5,058)	(12,989)
Adjusted beginning of year balance	252,569		15,453	268,022	93,652	10,476	104,128
Issuances	101,962		3,612	105,574	14,783	2,306	17,089
Interest accrual	11,576		527	12,103	4,246	520	4,766
Net premiums collected	(50,482)		(4,455)	(54,937)	(12,113)	1,346	(10,767)
Derecognition and other	(4,706)		43	(4,663)	458	84	542
Ending balance at original discount rate	310,919		15,180	326,099	101,026	14,732	115,758
Effect of changes in discount rates	(11,001)		(218)	(11,219)	(6,568)	(854)	(7,422)
Balance, end of year	$	299,918	14,962	314,880	94,458	13,878	108,336
Present Value of Expected Future Policy Benefits:
Balance, beginning of year	$	973,350	195,122	1,168,472	211,946	122,784	334,730
Beginning balance at original discount rate	995,962		202,755	1,198,717	217,524	123,941	341,465
Effect of changes in cash flow assumptions	18,320		735	19,055	(502)	(1,078)	(1,580)
Effects of actual variances from expected experience	(13,669)		4,771	(8,898)	(8,049)	(2,408)	(10,457)
Adjusted beginning of year balance	1,000,613		208,261	1,208,874	208,973	120,455	329,428
Issuances	102,793		3,740	106,533	14,776	2,312	17,088
Interest accrual	45,246		8,253	53,499	9,641	5,730	15,371
Benefit payments	(95,848)		(19,185)	(115,033)	(15,255)	(5,556)	(20,811)
Derecognition and other	(1,311)		728	(583)	420	75	495
Ending balance at original discount rate	1,051,493		201,797	1,253,290	218,555	123,016	341,571
Effect of changes in discount rates	(54,937)		(14,731)	(69,668)	(19,746)	(11,377)	(31,123)
Balance, end of year	$	996,556	187,066	1,183,622	198,809	111,639	310,448
Net liability for future policy benefits	$	696,638	172,104	868,742	104,351	97,761	202,112
Plus: Flooring impact	2		—	2	—	—	—
Less: Reinsurance recoverable	1,639		—	1,639	—	—	—
Net liability for future policy benefits, after reinsurance recoverable	$	695,001	172,104	867,105	104,351	97,761	202,112

The Company performed its annual review of policy benefit reserves assumptions in the third quarter of 2024 and recorded the effects of changes in its cash flow assumptions, which resulted in a net increase in future policy benefit reserves, primarily from mortality and lapse assumptions that better reflect emerging experience for the new CICA Domestic block of business.

For the year ended December 31, 2024, the Life Insurance segment increased reserves compared to the same period in 2023 due to the unfavorable impact of actual versus expected experience related to mortality and lapses. There was minimal impact to the Home Service Insurance segment resulting from actual to expected experience for the years ended December 31, 2024 and 2023.

December 31, 2023 (In thousands)	Life Insurance				Home Service Insurance
	Permanent		Permanent Limited Pay	Total	Permanent	Permanent Limited Pay	Total
Present Value of Expected Net Premiums:
Balance, beginning of year	$	235,228	10,209	245,437	93,508	13,255	106,763
Beginning balance at original discount rate	247,601		10,682	258,283	100,225	14,394	114,619
Effect of changes in cash flow assumptions	(210)		38	(172)	(343)	85	(258)
Effects of actual variances from expected experience	4,184		1,536	5,720	(8,287)	(6,402)	(14,689)
Adjusted beginning of year balance	251,575		12,256	263,831	91,595	8,077	99,672
Issuances	34,285		3,607	37,892	17,668	3,951	21,619
Interest accrual	9,291		355	9,646	4,045	468	4,513
Net premiums collected	(43,307)		(2,955)	(46,262)	(11,901)	2,832	(9,069)
Derecognition and other	582		270	852	638	184	822
Ending balance at original discount rate	252,426		13,533	265,959	102,045	15,512	117,557
Effect of changes in discount rates	(7,509)		(273)	(7,782)	(3,214)	(586)	(3,800)
Balance, end of year	$	244,917	13,260	258,177	98,831	14,926	113,757
Present Value of Expected Future Policy Benefits:
Balance, beginning of year	$	947,415	195,612	1,143,027	200,351	116,356	316,707
Beginning balance at original discount rate	996,169		208,051	1,204,220	214,188	121,908	336,096
Effect of changes in cash flow assumptions	(389)		(702)	(1,091)	(257)	331	74
Effects of actual variances from expected experience	7,370		5,330	12,700	(8,126)	(2,103)	(10,229)
Adjusted beginning of year balance	1,003,150		212,679	1,215,829	205,805	120,136	325,941
Issuances	34,922		3,792	38,714	17,664	3,973	21,637
Interest accrual	43,275		8,355	51,630	9,339	5,667	15,006
Benefit payments	(85,257)		(22,129)	(107,386)	(15,891)	(6,002)	(21,893)
Derecognition and other	(128)		58	(70)	607	167	774
Ending balance at original discount rate	995,962		202,755	1,198,717	217,524	123,941	341,465
Effect of changes in discount rates	(22,612)		(7,633)	(30,245)	(5,578)	(1,157)	(6,735)
Balance, end of year	$	973,350	195,122	1,168,472	211,946	122,784	334,730
Net liability for future policy benefits	$	728,433	181,862	910,295	113,115	107,858	220,973

The following table reconciles the net liability for future policy benefits shown above to the liability for future policy benefits reported in the consolidated balance sheets.

	December 31, 2024				December 31, 2023
(In thousands)	Life Insurance		Home Service Insurance	Consolidated	Life Insurance	Home Service Insurance	Consolidated
Life Insurance:
Permanent	$	695,001	104,351	799,352	728,433	113,115	841,548
Permanent limited pay	172,104		97,761	269,865	181,862	107,858	289,720
Deferred profit liability	31,101		29,535	60,636	28,933	26,804	55,737
Other	27,967		14,214	42,181	28,319	13,929	42,248
Total life insurance	926,173		245,861	1,172,034	967,547	261,706	1,229,253
Accident & Health:
Other	635		436	1,071	588	301	889
Total future policy benefit reserves	$	926,808	246,297	1,173,105	968,135	262,007	1,230,142

The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefit payments for long-term duration contracts.

	December 31, 2024			December 31, 2023
(In thousands)	Life Insurance		Home Service Insurance	Life Insurance	Home Service Insurance
Undiscounted:
Permanent:
Expected future gross premiums	$	770,148	444,658	621,935	455,552
Expected future benefit payments	1,623,273		487,177	1,495,206	484,740
Permanent Limited Pay:
Expected future gross premiums	45,502		74,616	47,161	77,266
Expected future benefit payments	324,043		319,376	326,821	320,810
Discounted:
Permanent:
Expected future gross premiums	$	570,976	257,925	481,963	275,629
Expected future benefit payments	996,556		198,809	973,350	211,946
Permanent Limited Pay:
Expected future gross premiums	40,627		48,690	42,138	53,075
Expected future benefit payments	187,066		111,639	195,122	122,784

The following tables summarize the amount of revenue and interest related to long-term duration contracts recognized in the consolidated statements of operations and comprehensive income (loss) as of the dates indicated.

For the Years Ended (In thousands)	December 31, 2024			December 31, 2023
	Gross Premiums		Interest Expense	Gross Premiums	Interest Expense
Life Insurance Segment:
Life Insurance:
Permanent	$	105,236	33,670	93,917	33,984
Permanent Limited Pay	17,004		8,978	16,396	8,923
Other	12,651		—	12,813	—
Less:
Reinsurance	5,465		—	1,702	—
Total, net of reinsurance	129,426		42,648	121,424	42,907
Accident & Health:
Other	766		—	725	—
Less:
Reinsurance	3		—	4	—
Total, net of reinsurance	763		—	721	—
Total	$	130,189	42,648	122,145	42,907
Home Service Insurance Segment:
Life Insurance:
Permanent	$	32,808	5,395	33,263	5,294
Permanent Limited Pay	7,832		6,537	8,576	6,388
Other	1,522		—	1,371	—
Less:
Reinsurance	27		—	25	—
Total, net of reinsurance	42,135		11,932	43,185	11,682
Accident & Health:
Other	1,022		—	916	—
Total	$	43,157	11,932	44,101	11,682

The following table provides the weighted-average durations of the liability for future policy benefits.

	December 31, 2024		December 31, 2023
(In years)	Life Insurance	Home Service Insurance	Life Insurance	Home Service Insurance
Permanent:
Duration at original discount rate	8.4	15.6	8.5	16.4
Duration at current discount rate	8.5	14.8	8.5	16.4
Permanent Limited Pay:
Duration at original discount rate	8.0	14.4	8.2	14.8
Duration at current discount rate	7.6	13.8	8.1	15.3

The following table provides the weighted-average interest rates for the liability for future policy benefits.

	December 31, 2024				December 31, 2023
	Life Insurance		Home Service Insurance		Life Insurance		Home Service Insurance
Permanent:
Interest rate at original discount rate	4.87	%	4.96	%	4.89	%	4.97	%
Interest rate at current discount rate	5.25	%	5.63	%	4.79	%	4.96	%
Permanent Limited Pay:
Interest rate at original discount rate	4.28	%	5.03	%	4.29	%	5.04	%
Interest rate at current discount rate	5.27	%	5.62	%	4.77	%	4.95	%

LIABILITY FOR POLICYHOLDERS’ ACCOUNT BALANCES

The following table presents the policyholders' account balances by range of guaranteed minimum crediting rates and the related range of the difference, in basis points, between rates being credited and the respective guaranteed minimums.

	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above	51 Basis Points-150 Basis Points Above	Greater Than 150 Basis Points Above	Total
December 31, 2024 (In thousands)
Range of Guaranteed Minimum Crediting Rates:
0.00% - 1.49%	$	826	—	—	34,741	35,567
1.50% - 2.99%	4,761		178	6	32,452	37,397
3.00% - 4.49%	102,478		369	18,977	—	121,824
Greater or equal to 4.50%	31,371		—	—	—	31,371
Total	$	139,436	547	18,983	67,193	226,159

	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above	51 Basis Points-150 Basis Points Above	Greater Than 150 Basis Points Above	Total
December 31, 2023 (In thousands)
Range of Guaranteed Minimum Crediting Rates:
0.00% - 1.49%	$	784	—	1,146	34,886	36,816
1.50% - 2.99%	33,073		671	49	—	33,793
3.00% - 4.49%	105,684		9	—	—	105,693
Greater or equal to 4.50%	31,400		—	—	—	31,400
Total	$	170,941	680	1,195	34,886	207,702

The following tables summarize balances of and changes in policyholders' account balances.

December 31, 2024 (In thousands, except for %)	Supplemental Contracts Without Life Contingencies			Fixed Annuity		Dividend Accumulations		Premiums Paid in Advance
Balance, beginning of year	$	44,569		87,134		44,960		31,039
Issuances	24,241			3,263		779		5,820
Premiums received	438			4,201		5,703		778
Interest credited	2,031			2,790		1,827		800
Other	5			—		—		—
Less:
Surrenders and withdrawals	—			9,308		5,501		8,540
Benefit payments	10,870			—		—		—
Balance, end of year	$	60,414		88,080		47,768		29,897
Weighted-average crediting rates	4.01		%	3.73	%	3.58	%	3.02	%
Cash surrender value	$	60,414		88,080		47,768		29,897

December 31, 2023 (In thousands, except for %)	Supplemental Contracts Without Life Contingencies			Fixed Annuity		Dividend Accumulations		Premiums Paid in Advance
Balance, beginning of year	$	32,995		86,807		41,663		34,603
Issuances	22,387			2,741		660		3,693
Premiums received	123			4,387		5,860		793
Interest credited	1,483			2,653		1,364		1,627
Other	1			—		—		—
Less:
Surrenders and withdrawals	—			9,454		4,587		9,677
Benefit payments	12,420			—		—		—
Balance, end of year	$	44,569		87,134		44,960		31,039
Weighted-average crediting rates	4.00		%	3.56	%	3.04	%	2.95	%
Cash surrender value	$	44,569		87,134		44,960		31,039

The following table reconciles policyholders' account balances shown above to the policyholders' account balance liability in the consolidated balance sheets.

As of December 31, (In thousands)	2024		2023
Annuities:
Supplemental contracts without life contingencies	$	60,414	44,569
Fixed annuity	88,080		87,134
Unearned revenue reserve	1,483		1,513
Total annuities	$	149,977	133,216
Premiums paid in advance:
Premiums paid in advance	$	29,897	31,039
Other	1,285		1,407
Total premiums paid in advance	$	31,182	32,446