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Life Policy and Deposit Contract Reserves (Tables)

12 Months Ended

Dec. 31, 2013

Liability for Future Policy Benefits [Abstract]

Schedule of components of life policy and deposit contract liability balances

The following table provides the components of our life policy and deposit contract liability balances for the years ended December 31:



(in millions)	Erie Family Life Insurance Company
	2013		2012		2011
Deferred annuities	$	1,135	$	1,136	$	1,144
Ordinary/traditional life	343		313		282
Universal life	260		242		228
Other	20		17		17
Life policy and deposit contract reserves	$	1,758	$	1,708	$	1,671

- Definition

The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range.

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