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Policy Liabilities (Tables)

3 Months Ended

Mar. 31, 2024

Policyholder Account Balance [Abstract]

Schedule of Liability for Future Policy Benefit, Activity


	Life
	Present value of expected future net premiums
	American Income		DTC		Liberty National		Other		Total
Balance at January 1, 2023	$	4,273,156	$	5,910,224	$	1,094,407	$	470,741	$	11,748,528
Beginning balance at original discount rates	4,246,723		5,680,864		1,066,123		449,209		11,442,919
Effect of changes in assumptions on future cash flows	—		—		—		—		—
Effect of actual variances from expected experience	(29,981)		(47,988)		(5,590)		(1,886)		(85,445)
Adjusted balance at January 1, 2023	4,216,742		5,632,876		1,060,533		447,323		11,357,474
Issuances(1)	192,555		168,952		30,142		7,241		398,890
Interest accrual(2)	47,898		70,991		13,288		5,670		137,847
Net premiums collected(3)	(127,239)		(153,919)		(33,188)		(11,557)		(325,903)

Effect of changes in the foreign exchange rate	(3,999)		—		—		—		(3,999)
Ending balance at original discount rates	4,325,957		5,718,900		1,070,775		448,677		11,564,309

Effect of change from original to current discount rates	141,680		391,650		57,308		34,379		625,017
Balance at March 31, 2023	$	4,467,637	$	6,110,550	$	1,128,083	$	483,056	$	12,189,326

Balance at January 1, 2024	$	4,681,888	$	6,052,651	$	1,129,716	$	478,052	$	12,342,307
Beginning balance at original discount rates	4,523,329		5,664,259		1,077,831		443,949		11,709,368
Effect of changes in assumptions on future cash flows	—		—		—		—		—
Effect of actual variances from expected experience	(48,248)		(36,229)		(10,448)		(1,851)		(96,776)
Adjusted balance at January 1, 2024	4,475,081		5,628,030		1,067,383		442,098		11,612,592
Issuances(1)	211,847		149,231		26,164		5,931		393,173
Interest accrual(2)	53,823		73,420		13,839		5,764		146,846
Net premiums collected(3)	(135,686)		(152,631)		(33,901)		(11,401)		(333,619)

Effect of changes in the foreign exchange rate	(8,927)		—		—		—		(8,927)
Ending balance at original discount rates	4,596,138		5,698,050		1,073,485		442,392		11,810,065

Effect of change from original to current discount rates	56,533		247,209		28,724		21,777		354,243
Balance at March 31, 2024	$	4,652,671	$	5,945,259	$	1,102,209	$	464,169	$	12,164,308

(1)Issuances represent the present value, using the original discount rate, of the expected net premiums related to new policies issued during each respective period.

(2)The interest accrual is the interest earned on the beginning present value of the expected net premiums, as well as the interest on actual net premiums earned during the period, using the original interest rate.

(3)Net premiums collected represent the product of the current period net premium ratio and the gross premiums collected during the period on the in-force business.


	Life
	Present value of expected future policy benefits
	American Income		DTC		Liberty National		Other		Total
Balance at January 1, 2023	$	9,119,104	$	9,225,451	$	3,429,256	$	3,976,150	$	25,749,961
Beginning balance at original discount rates	8,409,761		8,477,892		3,272,980		3,403,704		23,564,337
Effect of changes in assumptions on future cash flows	—		—		—		—		—
Effect of actual variances from expected experience	(31,526)		(48,947)		(7,054)		(2,896)		(90,423)
Adjusted balance at January 1, 2023	8,378,235		8,428,945		3,265,926		3,400,808		23,473,914
Issuances(1)	192,555		168,952		30,142		7,241		398,890
Interest accrual(2)	109,329		112,768		43,256		50,378		315,731
Benefit payments(3)	(96,674)		(147,061)		(54,730)		(30,892)		(329,357)

Effect of changes in the foreign exchange rate	(9,711)		—		—		—		(9,711)
Ending balance at original discount rates	8,573,734		8,563,604		3,284,594		3,427,535		23,849,467
Effect of change from original to current discount rates	1,063,729		1,061,076		274,418		738,992		3,138,215
Balance at March 31, 2023	$	9,637,463	$	9,624,680	$	3,559,012	$	4,166,527	$	26,987,682





Balance at January 1, 2024	$	10,163,627	$	9,714,516	$	3,605,392	$	4,239,623	$	27,723,158
Beginning balance at original discount rates	9,061,833		8,656,752		3,338,252		3,506,859		24,563,696
Effect of changes in assumptions on future cash flows	—		—		—		—		—
Effect of actual variances from expected experience	(52,221)		(36,444)		(10,449)		(2,867)		(101,981)
Adjusted balance at January 1, 2024	9,009,612		8,620,308		3,327,803		3,503,992		24,461,715
Issuances(1)	211,847		149,231		26,164		5,931		393,173
Interest accrual(2)	120,201		117,925		44,554		52,136		334,816
Benefit payments(3)	(104,758)		(159,061)		(58,109)		(34,177)		(356,105)

Effect of changes in the foreign exchange rate	(20,637)		—		—		—		(20,637)
Ending balance at original discount rates	9,216,265		8,728,403		3,340,412		3,527,882		24,812,962
Effect of change from original to current discount rates	741,828		771,812		159,330		576,010		2,248,980
Balance at March 31, 2024	$	9,958,093	$	9,500,215	$	3,499,742	$	4,103,892	$	27,061,942

(1)Issuances represent the present value, using the original discount rate, of the expected future policy benefits related to new policies issued during each respective period.

(2)The interest accrual is the interest earned on the beginning present value of the expected future policy benefits, as well as the interest on actual benefits and expenses paid during the period, using the original interest rate.

(3)Benefit payments represent the release of the present value, using the original discount rate, of the actual future policy benefits incurred during the period due to death, lapse, and maturity benefit payments based on the revised expected assumptions.


	Life(2)
	Net liability for future policy benefits as of March 31, 2023
	American Income		DTC		Liberty National		Other		Total
Net liability for future policy benefits at original discount rates	$	4,247,777	$	2,844,704	$	2,213,819	$	2,978,858	$	12,285,158
Effect of changes in discount rate assumptions	922,049		669,426		217,110		704,613		2,513,198
Other Adjustments(1)	95		4,546		8,017		72		12,730
Net liability for future policy benefits, after other adjustments, at current discount rates	5,169,921		3,518,676		2,438,946		3,683,543		14,811,086
Reinsurance recoverable	(141)		—		(7,531)		(36,837)		(44,509)
Net liability for future policy benefits, after reinsurance recoverable, at current discount rates	$	5,169,780	$	3,518,676	$	2,431,415	$	3,646,706	$	14,766,577

(1)Other adjustments include the Company's effects of capping and flooring the liability.

(2)Includes the immaterial error correction noted below.


	Life
	Net liability for future policy benefits as of March 31, 2024
	American Income		DTC		Liberty National		Other		Total
Net liability for future policy benefits at original discount rates	$	4,620,127	$	3,030,353	$	2,266,927	$	3,085,490	$	13,002,897
Effect of changes in discount rate assumptions	685,295		524,603		130,606		554,233		1,894,737
Other Adjustments(1)	287		3,549		5,418		85		9,339
Net liability for future policy benefits, after other adjustments, at current discount rates	5,305,709		3,558,505		2,402,951		3,639,808		14,906,973
Reinsurance recoverable	(170)		—		(7,787)		(36,564)		(44,521)
Net liability for future policy benefits, after reinsurance recoverable, at current discount rates	$	5,305,539	$	3,558,505	$	2,395,164	$	3,603,244	$	14,862,452

(1)Other adjustments include the Company's capping and flooring the liability.

The following tables summarize balances and changes in the net liability for future policy benefits for long-duration health contracts for the three month periods ended March 31, 2024 and 2023:


	Health
	Present value of expected future net premiums
	United American		Family Heritage		Liberty National		American Income		DTC		Total
Balance at January 1, 2023	$	2,908,501	$	1,594,992	$	423,490	$	190,296	$	90,143	$	5,207,422
Beginning balance at original discount rates	2,941,261		1,729,219		415,442		192,631		87,751		5,366,304
Effect of changes in assumptions on future cash flows	—		—		—		—		—		—
Effect of actual variances from expected experience	(34,132)		(18,758)		(16,585)		(1,621)		(2,573)		(73,669)
Adjusted balance at January 1, 2023	2,907,129		1,710,461		398,857		191,010		85,178		5,292,635
Issuances(1)	75,839		67,787		13,303		10,212		2,392		169,533
Interest accrual(2)	31,587		16,199		4,890		2,036		1,057		55,769
Net premiums collected(3)	(65,914)		(43,979)		(12,403)		(5,424)		(2,661)		(130,381)

Effect of changes in the foreign exchange rate	—		—		—		(388)		—		(388)
Ending balance at original discount rates	2,948,641		1,750,468		404,647		197,446		85,966		5,387,168

Effect of change from original to current discount rates	49,082		(86,054)		16,800		3,220		4,277		(12,675)
Balance at March 31, 2023	$	2,997,723	$	1,664,414	$	421,447	$	200,666	$	90,243	$	5,374,493

Balance at January 1, 2024	$	3,697,771	$	1,711,741	$	358,472	$	206,381	$	115,363	$	6,089,728
Beginning balance at original discount rates	3,625,803		1,783,173		348,570		201,869		109,880		6,069,295
Effect of changes in assumptions on future cash flows	—		—		—		—		—		—
Effect of actual variances from expected experience	(40,531)		(17,092)		(11,410)		(3,550)		(2,316)		(74,899)
Adjusted balance at January 1, 2024	3,585,272		1,766,081		337,160		198,319		107,564		5,994,396
Issuances(1)	104,603		64,008		13,558		9,949		4,609		196,727
Interest accrual(2)	41,822		18,103		4,227		2,283		1,368		67,803
Net premiums collected(3)	(70,249)		(46,400)		(12,780)		(5,839)		(2,678)		(137,946)

Effect of changes in the foreign exchange rate	—		—		—		(862)		—		(862)
Ending balance at original discount rates	3,661,448		1,801,792		342,165		203,850		110,863		6,120,118

Effect of change from original to current discount rates	(8,053)		(107,766)		3,276		(55)		3,016		(109,582)
Balance at March 31, 2024	$	3,653,395	$	1,694,026	$	345,441	$	203,795	$	113,879	$	6,010,536

(1)Issuances represent the present value, using the original discount rate, of the expected net premiums related to new policies issued during each respective period.

(3)Net premiums collected represent the product of the current period net premium ratio and the gross premiums collected during the period on the in-force business.


	Health
	Present value of expected future policy benefits
	United American		Family Heritage		Liberty National		American Income		DTC		Total
Balance at January 1, 2023	$	3,046,829	$	3,005,664	$	941,574	$	312,750	$	87,532	$	7,394,349
Beginning balance at original discount rates	3,080,633		3,336,344		904,865		303,713		85,212		7,710,767
Effect of changes in assumptions on future cash flows	—		—		—		—		—		—
Effect of actual variances from expected experience	(31,443)		(19,779)		(15,995)		(1,578)		(2,302)		(71,097)
Adjusted balance at January 1, 2023	3,049,190		3,316,565		888,870		302,135		82,910		7,639,670
Issuances(1)	75,683		67,787		13,285		10,212		2,388		169,355
Interest accrual(2)	33,480		32,289		11,840		3,668		1,057		82,334
Benefit payments(3)	(78,563)		(29,261)		(23,976)		(7,137)		(3,354)		(142,291)

Effect of changes in the foreign exchange rate	—		—		—		(708)		—		(708)
Ending balance at original discount rates	3,079,790		3,387,380		890,019		308,170		83,001		7,748,360
Effect of change from original to current discount rates	52,672		(212,708)		59,977		18,363		4,089		(77,607)
Balance at March 31, 2023	$	3,132,462	$	3,174,672	$	949,996	$	326,533	$	87,090	$	7,670,753





Balance at January 1, 2024	$	3,814,328	$	3,315,880	$	865,808	$	335,504	$	109,482	$	8,441,002
Beginning balance at original discount rates	3,741,530		3,506,689		816,819		315,431		104,501		8,484,970
Effect of changes in assumptions on future cash flows	—		—		—		—		—		—
Effect of actual variances from expected experience	(40,325)		(19,049)		(12,821)		(4,002)		(2,321)		(78,518)
Adjusted balance at January 1, 2024	3,701,205		3,487,640		803,998		311,429		102,180		8,406,452
Issuances(1)	104,431		64,008		13,349		9,949		4,598		196,335
Interest accrual(2)	43,444		35,663		10,833		3,937		1,368		95,245
Benefit payments(3)	(82,085)		(33,037)		(23,864)		(6,402)		(3,096)		(148,484)

Effect of changes in the foreign exchange rate	—		—		—		(1,548)		—		(1,548)
Ending balance at original discount rates	3,766,995		3,554,274		804,316		317,365		105,050		8,548,000
Effect of change from original to current discount rates	(10,461)		(282,670)		29,690		11,418		2,725		(249,298)
Balance at March 31, 2024	$	3,756,534	$	3,271,604	$	834,006	$	328,783	$	107,775	$	8,298,702

(1)Issuances represent the present value, using the original discount rate, of the expected future policy benefits related to new policies issued during each respective period.


	Health(2)
	Net liability for future policy benefits as of March 31, 2023
	United American		Family Heritage		Liberty National		American Income		Direct to Consumer		Total
Net liability for future policy benefits at original discount rates	$	131,149	$	1,636,912	$	485,372	$	110,724	$	(2,965)	$	2,361,192
Effect of changes in discount rate assumptions	3,590		(126,654)		43,177		15,143		(188)		(64,932)
Other Adjustments(1)	5,380		490		5,776		333		4,162		16,141
Net liability for future policy benefits, after other adjustments, at current discount rates	140,119		1,510,748		534,325		126,200		1,009		2,312,401
Reinsurance recoverable	(3,609)		(9,852)		(1,428)		—		—		(14,889)
Net liability for future policy benefits, after reinsurance recoverable, at current discount rates	$	136,510	$	1,500,896	$	532,897	$	126,200	$	1,009	$	2,297,512

(1)Other adjustments include the effects of capping and flooring the liability.

(2)Includes the immaterial error correction noted below.


	Health
	Net liability for future policy benefits as of March 31, 2024
	United American		Family Heritage		Liberty National		American Income		Direct to Consumer		Total
Net liability for future policy benefits at original discount rates	105,547		1,752,482		462,151		113,515		(5,813)		2,427,882
Effect of changes in discount rate assumptions	(2,408)		(174,904)		26,414		11,473		(291)		(139,716)
Other Adjustments(1)	14,449		444		11,254		749		6,838		33,734
Net liability for future policy benefits, after other adjustments, at current discount rates	117,588		1,578,022		499,819		125,737		734		2,321,900
Reinsurance recoverable	(3,096)		(10,577)		(1,224)		—		—		(14,897)
Net liability for future policy benefits, after reinsurance recoverable, at current discount rates	$	114,492	$	1,567,445	$	498,595	$	125,737	$	734	$	2,307,003

(1)Other adjustments include the effects of capping and flooring the liability.

There were no changes to the judgments, assumptions, and methods used in measuring the liability for future policy benefits during the three months ended March 31, 2024 and 2023.

The following table reconciles the liability for future policy benefits to the Condensed Consolidated Balance Sheets as of March 31, 2024 and 2023:



	At Original Discount Rates				At Current Discount Rates
	As of March 31,				As of March 31,
	2024		2023(2)		2024		2023(2)
Life(1):
American Income	$	4,620,358	$	4,247,898	$	5,305,709	$	5,169,921
Direct to Consumer	3,030,353		2,844,707		3,558,505		3,518,676
Liberty National	2,265,329		2,213,819		2,402,951		2,438,946
Other	3,085,512		2,978,885		3,639,808		3,683,543
Net liability for future policy benefits—long duration life	13,001,552		12,285,309		14,906,973		14,811,086

Health(1):
United American	117,042		134,455		117,588		140,119
Family Heritage	1,752,138		1,637,015		1,578,022		1,510,748
Liberty National	472,140		489,917		499,819		534,325
American Income	114,146		111,096		125,737		126,200
Direct to Consumer	707		961		734		1,009
Net liability for future policy benefits—long duration health	2,456,173		2,373,444		2,321,900		2,312,401

Deferred profit liability	174,605		177,248		174,605		177,248
Deferred annuity	739,019		907,797		739,019		907,797
Interest sensitive life	729,721		737,900		729,721		737,900
Other	9,810		10,067		9,805		10,066
Total future policy benefits	$	17,110,880	$	16,491,765	$	18,882,023	$	18,956,498

(1)Balances are presented net of the effects of capping and flooring the liability.

(2)Includes the immaterial error correction for reinsurance as noted above.

The following tables provide the weighted-average original and current discount rates for the liability for future policy benefits and the additional insurance liabilities as of March 31, 2024 and 2023:


	As of March 31,
	2024				2023
	Original discount rate		Current discount rate		Original discount rate		Current discount rate
Life
American Income	5.7	%	5.2	%	5.8	%	4.9	%
Direct to Consumer	6.0	%	5.2	%	6.0	%	5.0	%
Liberty National	5.6	%	5.2	%	5.6	%	5.0	%
Other	6.2	%	5.2	%	6.2	%	5.0	%

Health
United American	5.1	%	5.0	%	5.2	%	4.8	%
Family Heritage	4.2	%	5.1	%	4.3	%	4.9	%
Liberty National	5.8	%	5.2	%	5.8	%	4.9	%
American Income	5.8	%	5.0	%	5.9	%	4.8	%
Direct to Consumer	5.1	%	5.0	%	5.2	%	4.8	%

The following table provides the weighted-average durations of the liability for future policy benefits and the additional insurance liabilities as of March 31, 2024 and 2023:


	As of March 31,
	2024		2023
	At original discount rates	At current discount rates	At original discount rates	At current discount rates
Life
American Income	23.05	23.33	22.90	23.33
Direct to Consumer	19.57	21.01	20.24	21.82
Liberty National	15.16	15.60	14.94	15.63
Other	16.18	17.59	16.52	18.23

Health
United American	11.53	10.74	11.40	10.80
Family Heritage	15.07	14.34	14.91	14.43
Liberty National	9.23	9.39	9.31	9.66
American Income	12.28	12.67	12.15	12.74
Direct to Consumer	11.53	10.74	11.40	10.80

The following tables summarize the amount of gross premiums and interest related to long duration life and health contracts that are recognized in the Condensed Consolidated Statements of Operations for the three month periods ended March 31, 2024 and 2023:


	Life
	Three Months Ended March 31, 2024				Three Months Ended March 31, 2023
	Gross Premiums		Interest expense		Gross Premiums		Interest expense
American Income	$	413,759	$	66,379	$	387,145	$	61,431
Direct to Consumer	245,194		44,460		244,707		41,714
Liberty National	89,871		30,542		84,072		29,769
Other	51,069		45,917		51,835		44,275
Total	$	799,893	$	187,298	$	767,759	$	177,189


	Health
	Three Months Ended March 31, 2024				Three Months Ended March 31, 2023
	Gross Premiums		Interest expense		Gross Premiums		Interest expense
United American	$	104,097	$	1,567	$	97,833	$	1,822
Family Heritage	103,391		17,431		96,090		15,977
Liberty National	47,434		6,583		46,745		6,920
American Income	28,919		1,655		28,096		1,632
Direct to Consumer	3,657		—		3,542		—
Total	$	287,498	$	27,236	$	272,306	$	26,351

Schedule of Undiscounted and Discounted Expected Future Gross Premiums and Expected Future Benefits And Expenses

The following tables provide the undiscounted and discounted expected future net premiums, expected future gross premiums, and expected future policy benefits, at both original and current discount rates, for life and health contracts as of March 31, 2024 and 2023:


	Life
	As of March 31, 2024						As of March 31, 2023
	Not discounted		At original discount rates		At current discount rates		Not discounted		At original discount rates		At current discount rates
American Income
PV of expected future gross premiums	$	24,668,992	$	13,924,819	$	14,181,177	$	23,041,514	$	13,054,486	$	13,575,751
PV of expected future net premiums	8,131,005		4,596,138		4,652,671		7,617,532		4,325,957		4,467,637
PV of expected future policy benefits	31,114,756		9,216,265		9,958,093		28,821,998		8,573,734		9,637,463

DTC
PV of expected future gross premiums	$	17,617,001	$	9,214,360	$	9,597,417	$	17,479,516	$	9,165,113	$	9,773,835
PV of expected future net premiums	10,831,408		5,698,050		5,945,259		10,832,386		5,718,900		6,110,550
PV of expected future policy benefits	25,909,464		8,728,403		9,500,215		25,582,750		8,563,604		9,624,680

Liberty National
PV of expected future gross premiums	$	4,667,397	$	2,725,502	$	2,739,275	$	4,453,139	$	2,599,082	$	2,667,795
PV of expected future net premiums	1,888,084		1,073,485		1,102,209		1,889,419		1,070,775		1,128,083
PV of expected future policy benefits	8,916,134		3,340,412		3,499,742		8,658,766		3,284,594		3,559,012

Other
PV of expected future gross premiums	$	3,701,248	$	1,879,815	$	2,027,187	$	3,798,669	$	1,920,302	$	2,126,949
PV of expected future net premiums	906,921		442,392		464,169		919,924		448,677		483,056
PV of expected future policy benefits	12,437,133		3,527,882		4,103,892		12,392,224		3,427,535		4,166,527

Total
PV of expected future gross premiums	$	50,654,638	$	27,744,496	$	28,545,056	$	48,772,838	$	26,738,983	$	28,144,330
PV of expected future net premiums	21,757,418		11,810,065		12,164,308		21,259,261		11,564,309		12,189,326
PV of expected future policy benefits	78,377,487		24,812,962		27,061,942		75,455,738		23,849,467		26,987,682


	Health
	As of March 31, 2024						As of March 31, 2023
	Not discounted		At original discount rates		At current discount rates		Not discounted		At original discount rates		At current discount rates
United American
PV of expected future gross premiums	$	8,757,778	$	5,349,917	$	5,334,881	$	6,783,819	$	4,279,547	$	4,346,007
PV of expected future net premiums	6,002,434		3,661,448		3,653,395		4,685,306		2,948,641		2,997,723
PV of expected future policy benefits	6,186,167		3,766,995		3,756,534		4,909,212		3,079,790		3,132,462

Family Heritage
PV of expected future gross premiums	$	6,854,106	$	4,037,762	$	3,816,256	$	6,442,316	$	3,846,392	$	3,682,300
PV of expected future net premiums	3,039,406		1,801,792		1,694,026		2,908,079		1,750,468		1,664,414
PV of expected future policy benefits	6,769,500		3,554,274		3,271,604		6,358,594		3,387,380		3,174,672

Liberty National
PV of expected future gross premiums	$	2,073,015	$	1,315,879	$	1,353,262	$	2,232,290	$	1,396,334	$	1,468,763
PV of expected future net premiums	509,069		342,165		345,441		634,061		404,647		421,447
PV of expected future policy benefits	1,395,561		804,316		834,006		1,575,745		890,019		949,996

American Income
PV of expected future gross premiums	$	1,768,477	$	991,946	$	1,024,262	$	1,760,671	$	984,216	$	1,037,339
PV of expected future net premiums	362,982		203,850		203,795		351,655		197,446		200,666
PV of expected future policy benefits	644,293		317,365		328,783		626,151		308,170		326,533

Direct to Consumer
PV of expected future gross premiums	$	238,499	$	150,065	$	154,223	$	171,266	$	112,442	$	118,105
PV of expected future net premiums	176,500		110,863		113,879		131,187		85,966		90,243
PV of expected future policy benefits	164,347		105,050		107,775		124,597		83,001		87,090

Total
PV of expected future gross premiums	$	19,691,875	$	11,845,569	$	11,682,884	$	17,390,362	$	10,618,931	$	10,652,514
PV of expected future net premiums	10,090,391		6,120,118		6,010,536		8,710,288		5,387,168		5,374,493
PV of expected future policy benefits	15,159,868		8,548,000		8,298,702		13,594,299		7,748,360		7,670,753

Schedule of Policyholder Account Balance

The following table summarizes the balances of, and changes in, policyholders’ account balances as of March 31, 2024 and 2023:


	Policyholders' Account Balances
	As of March 31, 2024						As of March 31, 2023
	Interest Sensitive Life		Deferred Annuity		Other Policy-holders' Funds		Interest Sensitive Life		Deferred Annuity		Other Policy-holders' Funds
Balance at January 1,	$	732,948	$	773,039	$	236,958	$	739,105	$	954,318	$	123,236
Issuances	—		198		—		—		202		—
Premiums received	5,624		3,573		166,700		6,030		4,776		21,662
Policy charges	(3,111)		—		—		(3,319)		—		—
Surrenders and withdrawals	(6,309)		(31,563)		(3,517)		(5,384)		(43,533)		(3,303)
Benefit payments	(9,140)		(12,771)		—		(7,844)		(15,784)		—

Interest credited	7,016		6,243		3,521		7,135		7,560		1,238
Other	2,693		300		(2,393)		2,177		258		(147)
Balance at March 31,	$	729,721	$	739,019	$	401,269	$	737,900	$	907,797	$	142,686


Weighted-average credit rate	3.89		%	3.34		%	4.49		%	3.92		%	3.29		%	3.78		%
Net amount at risk	$	1,740,325		N/A			N/A			$	1,847,128		N/A			N/A
Cash surrender value	$	669,721		$	739,019		$	401,269		$	676,247		$	907,797		$	142,686

Schedule of Policyholder Account Balance, Guaranteed Minimum Crediting Rate

The following tables present the policyholders' account balances by range of guaranteed minimum crediting rates and the related range of difference, if any, in basis points between rates being credited to policy holders and the respective guaranteed minimums as of March 31, 2024 and 2023:


	At March 31, 2024
Range of guaranteed minimum crediting rates	Interest Sensitive Life		Deferred Annuity		Other Policyholders' Funds
At guaranteed minimum
Less than 3.00%	$	—	$	1,796	$	303,935
3.00%-3.99%	29,176		545,598		3,521
4.00%-4.99%	610,643		191,625		6,745
Greater than 5.00%	89,902		—		37,384
Total	729,721		739,019		351,585






51-150 basis points above
Less than 3.00%	—		—		—
3.00%-3.99%	—		—		—
4.00%-4.99%	—		—		49,684
Greater than 5.00%	—		—		—
Total	—		—		49,684





Grand Total	$	729,721	$	739,019	$	401,269


	At March 31, 2023
Range of guaranteed minimum crediting rates	Interest Sensitive Life		Deferred Annuity		Other Policyholders' Funds
At guaranteed minimum
Less than 3.00%	$	—	$	1,971	$	43,191
3.00%-3.99%	28,956		698,952		4,097
4.00%-4.99%	619,411		206,874		57,596
Greater than 5.00%	89,533		—		37,802
Total	$	737,900	$	907,797	$	142,686
51-150 basis points above
Less than 3.00%	$	—	$	—	$	—
3.00%-3.99%	—		—		—
4.00%-4.99%	—		—		—
Greater than 5.00%	—		—		—
Total	—		—		—






Grand Total	$	737,900	$	907,797	$	142,686