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Policy Liabilities (Tables)
 6 Months Ended
Jun. 30, 2024
Policyholder Account Balance [Abstract]  
Schedule of Liability for Future Policy Benefit, Activity
Life
Present value of expected future net premiums
American IncomeDTCLiberty NationalOtherTotal
Balance at January 1, 2023
$4,273,156 $5,910,224 $1,094,407 $470,741 $11,748,528 
Beginning balance at original discount rates4,246,723 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(69,352)(128,602)(15,593)(6,650)(220,197)
Adjusted balance at January 1, 2023
4,177,371 5,552,262 1,050,530 442,559 11,222,722 
Issuances(1)
376,021 313,748 60,848 14,611 765,228 
Interest accrual(2)
96,850 142,473 26,655 11,331 277,309 
Net premiums collected(3)
(256,959)(308,129)(66,472)(23,026)(654,586)
Effect of changes in the foreign exchange rate5,770 — — — 5,770 
Ending balance at original discount rates4,399,053 5,700,354 1,071,561 445,475 11,616,443 
Effect of change from original to current discount rates73,794 288,223 38,456 25,804 426,277 
Balance at June 30, 2023
$4,472,847 $5,988,577 $1,110,017 $471,279 $12,042,720 
Balance at January 1, 2024
$4,681,888 $6,052,651 $1,129,716 $478,052 $12,342,307 
Beginning balance at original discount rates4,523,329 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(113,699)(122,971)(17,268)(7,321)(261,259)
Adjusted balance at January 1, 2024
4,409,630 5,541,288 1,060,563 436,628 11,448,109 
Issuances(1)
412,701 287,040 60,219 12,156 772,116 
Interest accrual(2)
109,168 147,351 27,775 11,505 295,799 
Net premiums collected(3)
(274,166)(305,391)(67,915)(22,738)(670,210)
Effect of changes in the foreign exchange rate(9,222)— — — (9,222)
Ending balance at original discount rates4,648,111 5,670,288 1,080,642 437,551 11,836,592 
Effect of change from original to current discount rates(12,208)140,230 4,591 12,332 144,945 
Balance at June 30, 2024
$4,635,903 $5,810,518 $1,085,233 $449,883 $11,981,537 
(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 net premiums
American IncomeDTCLiberty NationalOtherTotal
Balance at April 1, 2023
$4,467,637 $6,110,550 $1,128,083 $483,056 $12,189,326 
Beginning balance at original discount rates4,325,957 5,718,900 1,070,775 448,677 11,564,309 
Effect of changes in assumptions on future cash flows
— — — — — 
Effect of actual variances from expected experience(39,371)(80,616)(10,004)(4,764)(134,755)
Adjusted balance at April 1, 2023
4,286,586 5,638,284 1,060,771 443,913 11,429,554 
Issuances(1)
183,466 144,796 30,706 7,370 366,338 
Interest accrual(2)
48,952 71,484 13,368 5,661 139,465 
Net premiums collected(3)
(129,720)(154,210)(33,284)(11,469)(328,683)
Effect of changes in the foreign exchange rate9,769 — — — 9,769 
Ending balance at original discount rates4,399,053 5,700,354 1,071,561 445,475 11,616,443 
Effect of change from original to current discount rates73,794 288,223 38,456 25,804 426,277 
Balance at June 30, 2023
$4,472,847 $5,988,577 $1,110,017 $471,279 $12,042,720 
Balance at April 1, 2024
$4,652,671 $5,945,259 $1,102,209 $464,169 $12,164,308 
Beginning balance at original discount rates4,596,138 5,698,050 1,073,485 442,392 11,810,065 
Effect of changes in assumptions on future cash flows
— — — — — 
Effect of actual variances from expected experience(65,450)(86,743)(6,820)(5,471)(164,484)
Adjusted balance at April 1, 2024
4,530,688 5,611,307 1,066,665 436,921 11,645,581 
Issuances(1)
200,853 137,809 34,056 6,227 378,945 
Interest accrual(2)
55,345 73,931 13,936 5,741 148,953 
Net premiums collected(3)
(138,480)(152,759)(34,015)(11,338)(336,592)
Effect of changes in the foreign exchange rate(295)— — — (295)
Ending balance at original discount rates4,648,111 5,670,288 1,080,642 437,551 11,836,592 
Effect of change from original to current discount rates(12,208)140,230 4,591 12,332 144,945 
Balance at June 30, 2024
$4,635,903 $5,810,518 $1,085,233 $449,883 $11,981,537 
(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 IncomeDTCLiberty NationalOtherTotal
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 rates8,409,761 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(72,388)(130,006)(13,119)(8,367)(223,880)
Adjusted balance at January 1, 2023
8,337,373 8,347,886 3,259,861 3,395,337 23,340,457 
Issuances(1)
376,021 313,749 60,848 14,611 765,229 
Interest accrual(2)
220,666 226,661 86,722 101,129 635,178 
Benefit payments(3)
(194,971)(295,399)(109,650)(62,586)(662,606)
Effect of changes in the foreign exchange rate14,437 — — — 14,437 
Ending balance at original discount rates8,753,526 8,592,897 3,297,781 3,448,491 24,092,695 
Effect of change from original to current discount rates914,681 894,336 210,064 661,215 2,680,296 
Balance at June 30, 2023
$9,668,207 $9,487,233 $3,507,845 $4,109,706 $26,772,991 
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 rates9,061,833 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(121,945)(129,976)(19,337)(10,212)(281,470)
Adjusted balance at January 1, 2024
8,939,888 8,526,776 3,318,915 3,496,647 24,282,226 
Issuances(1)
412,703 287,041 60,221 12,156 772,121 
Interest accrual(2)
243,096 236,977 89,276 104,571 673,920 
Benefit payments(3)
(220,560)(301,894)(111,881)(68,051)(702,386)
Effect of changes in the foreign exchange rate(21,601)— — — (21,601)
Ending balance at original discount rates9,353,526 8,748,900 3,356,531 3,545,323 25,004,280 
Effect of change from original to current discount rates457,881 540,934 68,237 436,575 1,503,627 
Balance at June 30, 2024
$9,811,407 $9,289,834 $3,424,768 $3,981,898 $26,507,907 
(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, surrender, and maturity benefit payments based on the revised expected assumptions.
Life
Present value of expected future policy benefits
American IncomeDTCLiberty NationalOtherTotal
Balance at April 1, 2023
$9,637,463 $9,624,680 $3,559,012 $4,166,527 $26,987,682 
Beginning balance at original discount rates8,573,734 8,563,604 3,284,594 3,427,535 23,849,467 
Effect of changes in assumptions on future cash flows— — — — — 
Effect of actual variances from expected experience(40,862)(81,059)(6,065)(5,471)(133,457)
Adjusted balance at April 1, 2023
8,532,872 8,482,545 3,278,529 3,422,064 23,716,010 
Issuances(1)
183,466 144,797 30,706 7,370 366,339 
Interest accrual(2)
111,337 113,893 43,466 50,751 319,447 
Benefit payments(3)
(98,297)(148,338)(54,920)(31,694)(333,249)
Effect of changes in the foreign exchange rate24,148 — — — 24,148 
Ending balance at original discount rates8,753,526 8,592,897 3,297,781 3,448,491 24,092,695 
Effect of change from original to current discount rates914,681 894,336 210,064 661,215 2,680,296 
Balance at June 30, 2023
$9,668,207 $9,487,233 $3,507,845 $4,109,706 $26,772,991 
Balance at April 1, 2024
$9,958,093 $9,500,215 $3,499,742 $4,103,892 $27,061,942 
Beginning balance at original discount rates9,216,265 8,728,403 3,340,412 3,527,882 24,812,962 
Effect of changes in assumptions on future cash flows— — — — — 
Effect of actual variances from expected experience(69,724)(93,532)(8,889)(7,345)(179,490)
Adjusted balance at April 1, 2024
9,146,541 8,634,871 3,331,523 3,520,537 24,633,472 
Issuances(1)
200,858 137,810 34,057 6,224 378,949 
Interest accrual(2)
122,894 119,052 44,723 52,436 339,105 
Benefit payments(3)
(115,802)(142,833)(53,772)(33,874)(346,281)
Effect of changes in the foreign exchange rate(965)— — — (965)
Ending balance at original discount rates9,353,526 8,748,900 3,356,531 3,545,323 25,004,280 
Effect of change from original to current discount rates457,881 540,934 68,237 436,575 1,503,627 
Balance at June 30, 2024
$9,811,407 $9,289,834 $3,424,768 $3,981,898 $26,507,907 
(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, surrender, and maturity benefit payments based on the revised expected assumptions.
Life(2)
Net liability for future policy benefits as of June 30, 2023
American IncomeDTCLiberty NationalOtherTotal
Net liability for future policy benefits at original discount rates
$4,354,473 $2,892,543 $2,226,220 $3,003,016 $12,476,252 
Effect of changes in discount rate assumptions840,887 606,113 171,608 635,411 2,254,019 
Other adjustments(1)
72 4,750 7,639 35 12,496 
Net liability for future policy benefits, after other adjustments, at current discount rates
5,195,432 3,503,406 2,405,467 3,638,462 14,742,767 
Reinsurance recoverable
(142)— (7,581)(36,472)(44,195)
Net liability for future policy benefits, after reinsurance recoverable, at current discount rates
$5,195,290 $3,503,406 $2,397,886 $3,601,990 $14,698,572 
(1)Other adjustments include the Company's effects of capping and flooring the liability (guidance requires an amount not less than zero at the calculation level of the liability for future policy benefits).
(2)Includes the immaterial error correction noted below.


Life
Net liability for future policy benefits as of June 30, 2024
American IncomeDTCLiberty NationalOtherTotal
Net liability for future policy benefits at original discount rates
$4,705,415 $3,078,612 $2,275,889 $3,107,772 $13,167,688 
Effect of changes in discount rate assumptions470,089 400,704 63,646 424,243 1,358,682 
Other adjustments(1)
194 — — 34 228 
Net liability for future policy benefits, after other adjustments, at current discount rates
5,175,698 3,479,316 2,339,535 3,532,049 14,526,598 
Reinsurance recoverable
(170)— (7,830)(35,403)(43,403)
Net liability for future policy benefits, after reinsurance recoverable, at current discount rates
$5,175,528 $3,479,316 $2,331,705 $3,496,646 $14,483,195 
(1)Other adjustments include the Company's effects of flooring the liability (guidance requires an amount not less than zero at the calculation level of the liability for future policy benefits).
The following tables summarize balances and changes in the net liability for future policy benefits for long-duration health contracts for the three and six month periods ended June 30, 2024 and 2023:
Health
Present value of expected future net premiums
United AmericanFamily HeritageLiberty NationalAmerican IncomeDTCTotal
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 rates2,941,261 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(28,923)(34,394)(27,833)(5,249)(1,895)(98,294)
Adjusted balance at January 1, 2023
2,912,338 1,694,825 387,609 187,382 85,856 5,268,010 
Issuances(1)
143,716 132,346 28,191 20,787 4,215 329,255 
Interest accrual(2)
63,854 32,819 9,666 4,134 2,118 112,591 
Net premiums collected(3)
(134,248)(88,784)(25,286)(10,981)(5,349)(264,648)
Effect of changes in the foreign exchange rate— — — 387 — 387 
Ending balance at original discount rates2,985,660 1,771,206 400,180 201,709 86,840 5,445,595 
Effect of change from original to current discount rates(1,106)(110,186)9,371 135 2,834 (98,952)
Balance at June 30, 2023
$2,984,554 $1,661,020 $409,551 $201,844 $89,674 $5,346,643 
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 rates3,625,803 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(37,074)(31,290)(21,165)(7,058)(2,462)(99,049)
Adjusted balance at January 1, 2024
3,588,729 1,751,883 327,405 194,811 107,418 5,970,246 
Issuances(1)
191,794 128,874 29,015 22,124 8,503 380,310 
Interest accrual(2)
84,630 36,717 8,347 4,642 2,760 137,096 
Net premiums collected(3)
(145,045)(93,746)(25,833)(11,871)(5,434)(281,929)
Effect of changes in the foreign exchange rate— — — (839)— (839)
Ending balance at original discount rates3,720,108 1,823,728 338,934 208,867 113,247 6,204,884 
Effect of change from original to current discount rates(61,617)(132,931)(1,193)(2,978)1,629 (197,090)
Balance at June 30, 2024
$3,658,491 $1,690,797 $337,741 $205,889 $114,876 $6,007,794 
(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.
Health
Present value of expected future net premiums
United AmericanFamily HeritageLiberty NationalAmerican IncomeDTCTotal
Balance at April 1, 2023
$2,997,723 $1,664,414 $421,447 $200,666 $90,243 $5,374,493 
Beginning balance at original discount rates2,948,641 1,750,468 404,647 197,446 85,966 5,387,168 
Effect of changes in assumptions on future cash flows
— — — — — — 
Effect of actual variances from expected experience5,210 (15,636)(11,249)(3,629)679 (24,625)
Adjusted balance at April 1, 2023
2,953,851 1,734,832 393,398 193,817 86,645 5,362,543 
Issuances(1)
67,875 64,559 14,888 10,575 1,823 159,720 
Interest accrual(2)
32,267 16,620 4,776 2,098 1,061 56,822 
Net premiums collected(3)
(68,333)(44,805)(12,882)(5,556)(2,689)(134,265)
Effect of changes in the foreign exchange rate— — — 775 — 775 
Ending balance at original discount rates2,985,660 1,771,206 400,180 201,709 86,840 5,445,595 
Effect of change from original to current discount rates(1,106)(110,186)9,371 135 2,834 (98,952)
Balance at June 30, 2023
$2,984,554 $1,661,020 $409,551 $201,844 $89,674 $5,346,643 
Balance at April 1, 2024
$3,653,395 $1,694,026 $345,441 $203,795 $113,879 $6,010,536 
Beginning balance at original discount rates3,661,448 1,801,792 342,165 203,850 110,863 6,120,118 
Effect of changes in assumptions on future cash flows
— — — — — — 
Effect of actual variances from expected experience3,458 (14,197)(9,755)(3,508)(144)(24,146)
Adjusted balance at April 1, 2024
3,664,906 1,787,595 332,410 200,342 110,719 6,095,972 
Issuances(1)
87,190 64,865 15,457 12,174 3,893 183,579 
Interest accrual(2)
42,808 18,614 4,119 2,360 1,392 69,293 
Net premiums collected(3)
(74,796)(47,346)(13,052)(6,032)(2,757)(143,983)
Effect of changes in the foreign exchange rate— — — 23 — 23 
Ending balance at original discount rates3,720,108 1,823,728 338,934 208,867 113,247 6,204,884 
Effect of change from original to current discount rates(61,617)(132,931)(1,193)(2,978)1,629 (197,090)
Balance at June 30, 2024
$3,658,491 $1,690,797 $337,741 $205,889 $114,876 $6,007,794 
(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.
Health
Present value of expected future policy benefits
United AmericanFamily HeritageLiberty NationalAmerican IncomeDTCTotal
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 rates3,080,633 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(27,940)(36,292)(27,018)(6,018)(1,830)(99,098)
Adjusted balance at January 1, 2023
3,052,693 3,300,052 877,847 297,695 83,382 7,611,669 
Issuances(1)
143,404 132,346 27,901 20,787 4,208 328,646 
Interest accrual(2)
67,592 65,320 23,526 7,389 2,118 165,945 
Benefit payments(3)
(146,921)(61,551)(48,395)(11,660)(6,520)(275,047)
Effect of changes in the foreign exchange rate— — — 876 — 876 
Ending balance at original discount rates3,116,768 3,436,167 880,879 315,087 83,188 7,832,089 
Effect of change from original to current discount rates(379)(268,706)42,269 13,492 2,668 (210,656)
Balance at June 30, 2023
$3,116,389 $3,167,461 $923,148 $328,579 $85,856 $7,621,433 
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 rates3,741,530 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(36,684)(35,000)(21,424)(8,179)(2,326)(103,613)
Adjusted balance at January 1, 2024
3,704,846 3,471,689 795,395 307,252 102,175 8,381,357 
Issuances(1)
191,231 128,875 28,604 22,126 8,485 379,321 
Interest accrual(2)
87,778 72,179 21,549 7,956 2,760 192,222 
Benefit payments(3)
(160,345)(67,428)(46,232)(13,072)(6,277)(293,354)
Effect of changes in the foreign exchange rate— — — (1,556)— (1,556)
Ending balance at original discount rates3,823,510 3,605,315 799,316 322,706 107,143 8,657,990 
Effect of change from original to current discount rates(65,023)(355,849)16,462 5,730 1,474 (397,206)
Balance at June 30, 2024
$3,758,487 $3,249,466 $815,778 $328,436 $108,617 $8,260,784 
(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 based on the revised expected assumptions.
Health
Present value of expected future policy benefits
United AmericanFamily HeritageLiberty NationalAmerican IncomeDTCTotal
Balance at April 1, 2023
$3,132,462 $3,174,672 $949,996 $326,533 $87,090 $7,670,753 
Beginning balance at original discount rates3,079,790 3,387,380 890,019 308,170 83,001 7,748,360 
Effect of changes in assumptions on future cash flows— — — — — — 
Effect of actual variances from expected experience3,503 (16,513)(11,023)(4,439)472 (28,000)
Adjusted balance at April 1, 2023
3,083,293 3,370,867 878,996 303,731 83,473 7,720,360 
Issuances(1)
67,721 64,559 14,616 10,575 1,820 159,291 
Interest accrual(2)
34,112 33,031 11,686 3,721 1,061 83,611 
Benefit payments(3)
(68,358)(32,290)(24,419)(4,523)(3,166)(132,756)
Effect of changes in the foreign exchange rate— — — 1,583 — 1,583 
Ending balance at original discount rates3,116,768 3,436,167 880,879 315,087 83,188 7,832,089 
Effect of change from original to current discount rates(379)(268,706)42,269 13,492 2,668 (210,656)
Balance at June 30, 2023
$3,116,389 $3,167,461 $923,148 $328,579 $85,856 $7,621,433 
Balance at April 1, 2024
$3,756,534 $3,271,604 $834,006 $328,783 $107,775 $8,298,702 
Beginning balance at original discount rates3,766,995 3,554,274 804,316 317,365 105,050 8,548,000 
Effect of changes in assumptions on future cash flows— — — — — — 
Effect of actual variances from expected experience3,641 (15,951)(8,603)(4,177)(5)(25,095)
Adjusted balance at April 1, 2024
3,770,636 3,538,323 795,713 313,188 105,045 8,522,905 
Issuances(1)
86,801 64,866 15,255 12,177 3,887 182,986 
Interest accrual(2)
44,334 36,517 10,716 4,019 1,392 96,978 
Benefit payments(3)
(78,261)(34,391)(22,368)(6,670)(3,181)(144,871)
Effect of changes in the foreign exchange rate— — — (8)— (8)
Ending balance at original discount rates3,823,510 3,605,315 799,316 322,706 107,143 8,657,990 
Effect of change from original to current discount rates(65,023)(355,849)16,462 5,730 1,474 (397,206)
Balance at June 30, 2024
$3,758,487 $3,249,466 $815,778 $328,436 $108,617 $8,260,784 
(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 based on the revised expected assumptions.
Health(2)
Net liability for future policy benefits as of June 30, 2023
United AmericanFamily HeritageLiberty NationalAmerican IncomeDirect to ConsumerTotal
Net liability for future policy benefits at original discount rates
$131,108 $1,664,961 $480,699 $113,378 $(3,652)$2,386,494 
Effect of changes in discount rate assumptions727 (158,520)32,898 13,357 (166)(111,704)
Other adjustments(1)
4,702 69 6,049 605 4,645 16,070 
Net liability for future policy benefits, after other adjustments, at current discount rates
136,537 1,506,510 519,646 127,340 827 2,290,860 
Reinsurance recoverable
(3,598)(9,866)(1,378)— — (14,842)
Net liability for future policy benefits, after reinsurance recoverable, at current discount rates
$132,939 $1,496,644 $518,268 $127,340 $827 $2,276,018 
(1)Other adjustments include the effects of capping and flooring the liability (guidance requires an amount not less than zero at the calculation level of the liability for future policy benefits).
(2)Includes the immaterial error correction noted below.
Health
Net liability for future policy benefits as of June 30, 2024
United AmericanFamily HeritageLiberty NationalAmerican IncomeDirect to ConsumerTotal
Net liability for future policy benefits at original discount rates
103,402 1,781,587 460,382 113,839 (6,104)2,453,106 
Effect of changes in discount rate assumptions(3,406)(222,918)17,655 8,708 (155)(200,116)
Other adjustments(1)
14,032 52 9,169 933 6,952 31,138 
Net liability for future policy benefits, after other adjustments, at current discount rates
114,028 1,558,721 487,206 123,480 693 2,284,128 
Reinsurance recoverable
(2,905)(10,470)(1,114)— — (14,489)
Net liability for future policy benefits, after reinsurance recoverable, at current discount rates
$111,123 $1,548,251 $486,092 $123,480 $693 $2,269,639 
(1)Other adjustments include the effects of flooring the liability (guidance requires an amount not less than zero at the calculation level of the liability for future policy benefits).
The following table reconciles the liability for future policy benefits to the Condensed Consolidated Balance Sheets as of June 30, 2024 and 2023:
At Original Discount RatesAt Current Discount Rates
As of June 30,As of June 30,
2024
2023(2)
2024
2023(2)
Life(1):
American Income$4,705,606 $4,354,545 $5,175,698 $5,195,432 
Direct to Consumer3,078,612 2,892,543 3,479,316 3,503,406 
Liberty National2,275,889 2,226,220 2,339,535 2,405,467 
Other3,107,805 3,003,041 3,532,049 3,638,462 
Net liability for future policy benefits—long duration life13,167,912 12,476,349 14,526,598 14,742,767 
Health(1):
United American115,771 134,120 114,028 136,537 
Family Heritage1,781,632 1,665,025 1,558,721 1,506,510 
Liberty National469,145 485,797 487,206 519,646 
American Income114,716 113,981 123,480 127,340 
Direct to Consumer673 798 693 827 
Net liability for future policy benefits—long duration health2,481,937 2,399,721 2,284,128 2,290,860 
Deferred profit liability176,123 172,531 176,123 172,531 
Deferred annuity706,022 853,064 706,022 853,064 
Interest sensitive life728,097 736,920 728,097 736,920 
Other9,702 9,906 9,704 9,909 
Total future policy benefits
$17,269,793 $16,648,491 $18,430,672 $18,806,051 
(1)Balances are presented net of the effects of capping and flooring the liability (guidance requires an amount not less than zero at the calculation level of the liability for future policy benefits).
(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 June 30, 2024 and 2023:
As of June 30,
20242023
Original discount rateCurrent discount rateOriginal discount rateCurrent discount rate
Life
American Income5.7 %5.3 %5.8 %5.0 %
Direct to Consumer6.0 %5.4 %6.0 %5.1 %
Liberty National5.6 %5.4 %5.6 %5.1 %
Other6.2 %5.4 %6.2 %5.1 %
Health
United American5.1 %5.2 %5.1 %4.9 %
Family Heritage4.2 %5.3 %4.3 %5.1 %
Liberty National5.8 %5.4 %5.8 %5.1 %
American Income5.8 %5.2 %5.9 %4.9 %
Direct to Consumer5.1 %5.2 %5.1 %4.9 %
The following table provides the weighted-average durations of the liability for future policy benefits and the additional insurance liabilities as of June 30, 2024 and 2023:
As of June 30,
20242023
At original discount ratesAt current discount ratesAt original discount ratesAt current discount rates
Life
American Income23.0323.1722.9123.45
Direct to Consumer19.4420.6620.1221.81
Liberty National15.2215.4014.9715.69
Other16.1017.2316.4418.19
Health
United American11.5910.6411.3710.79
Family Heritage15.1614.2114.8714.41
Liberty National9.269.269.349.68
American Income12.3512.5512.1212.73
Direct to Consumer11.5910.6411.3710.79
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 and six month periods ended June 30, 2024 and 2023:
Life
Six Months Ended
June 30, 2024		Six Months Ended
June 30, 2023
Gross
Premiums		Interest
expense		Gross
Premiums		Interest
expense
American Income$836,931 $133,928 $781,453 $123,816 
Direct to Consumer491,235 89,541 490,443 84,062 
Liberty National181,110 61,153 169,570 59,670 
Other101,652 92,151 103,343 88,926 
Total$1,610,928 $376,773 $1,544,809 $356,474 
Life
Three Months Ended
June 30, 2024		Three Months Ended
June 30, 2023
Gross
Premiums		Interest
expense		Gross
Premiums		Interest
expense
American Income$423,172 $67,549 $394,308 $62,385 
Direct to Consumer246,041 45,081 245,736 42,348 
Liberty National91,239 30,611 85,498 29,901 
Other50,583 46,233 51,507 44,652 
Total$811,035 $189,474 $777,049 $179,286 
Health
Six Months Ended
June 30, 2024		Six Months Ended
June 30, 2023
Gross
Premiums		Interest
expense		Gross
Premiums		Interest
expense
United American$214,850 $3,041 $198,679 $3,604 
Family Heritage209,246 35,204 194,219 32,272 
Liberty National94,952 13,155 93,434 13,801 
American Income58,389 3,314 56,335 3,256 
Direct to Consumer7,390 — 7,097 — 
Total$584,827 $54,714 $549,764 $52,933 
Health
Three Months Ended
June 30, 2024		Three Months Ended
June 30, 2023
Gross
Premiums		Interest
expense		Gross
Premiums		Interest
expense
United American$110,753 $1,474 $100,847 $1,782 
Family Heritage105,855 17,773 98,129 16,295 
Liberty National47,518 6,572 46,690 6,881 
American Income29,470 1,659 28,239 1,624 
Direct to Consumer3,733 — 3,555 — 
Total$297,329 $27,478 $277,460 $26,582 
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 June 30, 2024 and 2023:
Life
As of June 30, 2024As of June 30, 2023
Not discountedAt original discount ratesAt current discount ratesNot discountedAt original discount ratesAt current discount rates
American Income
PV of expected future gross premiums$25,077,717 $14,130,383 $14,177,334 $23,507,444 $13,292,363 $13,604,682 
PV of expected future net premiums8,240,194 4,648,111 4,635,903 7,764,339 4,399,053 4,472,847 
PV of expected future policy benefits31,638,799 9,353,526 9,811,407 29,442,642 8,753,526 9,668,207 
DTC
PV of expected future gross premiums$17,605,488 $9,202,366 $9,418,076 $17,486,509 $9,157,664 $9,599,872 
PV of expected future net premiums10,784,908 5,670,288 5,810,518 10,811,358 5,700,354 5,988,577 
PV of expected future policy benefits25,978,972 8,748,900 9,289,834 25,685,249 8,592,897 9,487,233 
Liberty National
PV of expected future gross premiums$4,760,222 $2,777,507 $2,744,508 $4,511,931 $2,630,182 $2,657,925 
PV of expected future net premiums1,900,361 1,080,642 1,085,233 1,891,335 1,071,561 1,110,017 
PV of expected future policy benefits8,997,194 3,356,531 3,424,768 8,710,626 3,297,781 3,507,845 
Other
PV of expected future gross premiums$3,671,193 $1,866,118 $1,974,726 $3,773,740 $1,909,405 $2,075,784 
PV of expected future net premiums897,326 437,551 449,883 914,258 445,475 471,279 
PV of expected future policy benefits12,433,005 3,545,323 3,981,898 12,398,774 3,448,491 4,109,706 
Total
PV of expected future gross premiums$51,114,620 $27,976,374 $28,314,644 $49,279,624 $26,989,614 $27,938,263 
PV of expected future net premiums21,822,789 11,836,592 11,981,537 21,381,290 11,616,443 12,042,720 
PV of expected future policy benefits79,047,970 25,004,280 26,507,907 76,237,291 24,092,695 26,772,991 
Health
As of June 30, 2024As of June 30, 2023
Not discountedAt original discount ratesAt current discount ratesNot discountedAt original discount ratesAt current discount rates
United American
PV of expected future gross premiums$8,930,346 $5,449,708 $5,359,418 $6,896,513 $4,338,871 $4,335,298 
PV of expected future net premiums6,100,831 3,720,108 3,658,491 4,754,498 2,985,660 2,984,554 
PV of expected future policy benefits6,287,625 3,823,510 3,758,487 4,976,470 3,116,768 3,116,389 
Family Heritage
PV of expected future gross premiums$6,998,187 $4,103,577 $3,823,106 $6,569,913 $3,903,618 $3,684,436 
PV of expected future net premiums3,092,463 1,823,728 1,690,797 2,958,074 1,771,206 1,661,020 
PV of expected future policy benefits6,909,758 3,605,315 3,249,466 6,483,691 3,436,167 3,167,461 
Liberty National
PV of expected future gross premiums$2,061,622 $1,307,386 $1,326,826 $2,212,104 $1,382,884 $1,429,939 
PV of expected future net premiums505,985 338,934 337,741 627,206 400,180 409,551 
PV of expected future policy benefits1,391,768 799,316 815,778 1,561,839 880,879 923,148 
American Income
PV of expected future gross premiums$1,792,241 $1,003,909 $1,021,346 $1,787,907 $998,307 $1,035,471 
PV of expected future net premiums373,186 208,867 205,889 360,163 201,709 201,844 
PV of expected future policy benefits656,571 322,706 328,436 640,722 315,087 328,579 
Direct to Consumer
PV of expected future gross premiums$242,288 $151,969 $154,318 $174,681 $114,216 $118,015 
PV of expected future net premiums180,882 113,247 114,876 133,047 86,840 89,674 
PV of expected future policy benefits168,428 107,143 108,617 125,192 83,188 85,856 
Total
PV of expected future gross premiums$20,024,684 $12,016,549 $11,685,014 $17,641,118 $10,737,896 $10,603,159 
PV of expected future net premiums10,253,347 6,204,884 6,007,794 8,832,988 5,445,595 5,346,643 
PV of expected future policy benefits15,414,150 8,657,990 8,260,784 13,787,914 7,832,089 7,621,433 
Schedule of Policyholder Account Balance
The following table summarizes the balances of, and changes in, policyholders’ account balances as of June 30, 2024 and 2023:
Policyholders' Account Balances
20242023
Interest Sensitive LifeDeferred AnnuityOther Policy-holders' FundsInterest Sensitive LifeDeferred AnnuityOther Policy-holders' Funds
Balance at January 1,
$732,948 $773,039 $236,958 $739,105 $954,318 $123,234 
Issuances— 358 — — 371 — 
Premiums received11,110 6,409 168,470 11,664 8,104 68,409 
Policy charges(6,172)— — (6,516)— — 
Surrenders and withdrawals(11,476)(62,562)(7,351)(10,622)(87,271)(6,324)
Benefit payments(16,740)(24,137)— (15,495)(37,412)— 
Interest credited13,968 12,213 9,104 14,191 14,745 3,339 
Other4,459 702 (6,556)4,593 209 (785)
Balance at June 30,
$728,097 $706,022 $400,625 $736,920 $853,064 $187,873 

Policyholders' Account Balances
20242023
Interest Sensitive LifeDeferred AnnuityOther Policy-holders' FundsInterest Sensitive LifeDeferred AnnuityOther Policy-holders' Funds
Balance at April 1,
$729,721 $739,019 $401,269 $737,900 $907,797 $142,686 
Issuances— 160 — — 169 — 
Premiums received5,486 2,836 1,770 5,634 3,328 46,747 
Policy charges(3,061)— — (3,197)— — 
Surrenders and withdrawals(5,167)(30,999)(3,834)(5,238)(43,738)(3,021)
Benefit payments(7,600)(11,366)— (7,651)(21,628)— 
Interest credited6,952 5,970 5,583 7,056 7,185 2,101 
Other1,766 402 (4,163)2,416 (49)(640)
Balance at June 30,
$728,097 $706,022 $400,625 $736,920 $853,064 $187,873 

Weighted-average credit rate3.87 %3.35 %5.69 %3.88 %3.30 %5.18 %
Net amount at risk$1,714,347 N/AN/A$1,819,695 N/AN/A
Cash surrender value$680,564 $706,022 $400,625 $675,044 $853,064 $187,872 
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 June 30, 2024 and 2023:
At June 30, 2024
Range of guaranteed minimum crediting ratesInterest Sensitive LifeDeferred AnnuityOther Policyholders' Funds
At guaranteed minimum
Less than 3.00%
$— $1,743 $304,454 
3.00%-3.99%
29,238 515,442 3,246 
4.00%-4.99%
608,867 187,985 6,539 
Greater than 5.00%
89,992 — 36,775 
Total
728,097 705,170 351,014 
51-150 basis points above
Less than 3.00%
— — — 
3.00%-3.99%
— — — 
4.00%-4.99%
— — 49,611 
Greater than 5.00%
— — — 
Total
— — 49,611 
Greater than 150 basis points above
Less than 3.00%
— — — 
3.00%-3.99%
— 852 — 
4.00%-4.99%
— — — 
Greater than 5.00%
— — — 
Total
— 852 — 
Grand Total
$728,097 $706,022 $400,625 
At June 30, 2023
Range of guaranteed minimum crediting ratesInterest Sensitive LifeDeferred AnnuityOther Policyholders' Funds
At guaranteed minimum
Less than 3.00%
$— $2,076 $88,301 
3.00%-3.99%
29,014 647,355 4,025 
4.00%-4.99%
618,071 203,633 8,587 
Greater than 5.00%
89,835 — 38,594 
Total
736,920 853,064 139,507 
51-150 basis points above
Less than 3.00%
$— $— $— 
3.00%-3.99%
— — — 
4.00%-4.99%
— — 48,366 
Greater than 5.00%
— — — 
Total
— — 48,366 
Greater than 150 basis points above
Less than 3.00%
$— $— $— 
3.00%-3.99%
— — — 
4.00%-4.99%
— — — 
Greater than 5.00%
— — — 
Total
— — — 
Grand Total
$736,920 $853,064 $187,873