Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Total Federal income taxes were allocated as follows:

	Years Ended December 31,
	2012			2011		2010
	(In thousands)
Taxes (benefits) on earnings from continuing operations:
Current	$	51,886		39,928		27,468
Deferred	(3,863		)	(12,719	)	4,198
Taxes on earnings	48,023			27,209		31,666
Taxes (benefits) on components of stockholders' equity:
Net unrealized gains and losses on securities available for sale	13,011			2,986		17,024
Foreign currency translation adjustments	(157		)	197		(191	)
Change in benefit liability	(410		)	(1,840	)	805
Total Federal income taxes (benefit)	$	60,467		28,552		49,304

Schedule of Income Tax Reconciliation

The reasons for the differences and the corresponding tax effects are as follows:

	Years Ended December 31,
	2012			2011		2010
	(In thousands)
Income tax expense at statutory rate of 35%	$	49,204		28,993		36,597
Dividend received deduction	(1,292		)	(1,178	)	(1,077	)
Tax exempt interest	(1,977		)	(2,033	)	(1,854	)
Non deductible gifts	2			7		—
Tax adjustment on foreign currency	245			(24	)	(482	)
Adjustments pertaining to prior tax years	1,244			1,122		(1,944	)
Nondeductible insurance	160			160		160
Nondeductible meals	110			38		30
Amortization of life interest in a trust	116			114		113
Other, net	211			10		123
Taxes on earnings from continuing operations	$	48,023		27,209		31,666

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2012 and 2011 are presented below.

	December 31,
	2012			2011
	(In thousands)
Deferred tax assets:
Future policy benefits, excess of financial accounting liabilities over tax liabilities	$	278,407		271,637
Investment securities write-downs for financial accounting purposes	6,724			8,684
Pension liabilities	8,461			7,841
Accrued operating expenses recorded for financial accounting purposes not currently tax deductible	7,380			6,535
Mortgage loans, principally due to valuation allowances for financial accounting purposes	228			1,600
Accrued and unearned investment income recognized for tax purposes and deferred for financial accounting purposes	156			265
Capital loss carryforward	—			—
Other	(4,690		)	(850	)
Total gross deferred tax assets	296,666			295,712
Deferred tax liabilities:
Deferred policy acquisition and sales inducement costs, principally expensed for tax purposes	(298,435		)	(296,797	)
Debt securities, principally due to deferred market discount for tax	(8,680		)	(8,091	)
Real estate, principally due to adjustments for financial accounting purposes	(117		)	(272	)
Net unrealized gains on securities available for sale	(45,927		)	(37,025	)
Foreign currency translation adjustments	4,118			3,276
Fixed assets, due to different bases	(2,342		)	(3,249	)
Other	(337		)	(35	)
Total gross deferred tax liabilities	(351,720		)	(342,193	)
Net deferred tax liabilities	$	(55,054	)	(46,481	)