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Interim Unaudited Statements of Income and Comprehensive Income (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
REVENUES:    
Premiums $ 3.0us-gaap_PremiumsEarnedNet $ 2.8us-gaap_PremiumsEarnedNet
Insurance and investment product fees 89.9us-gaap_FeesAndCommissions 89.0us-gaap_FeesAndCommissions
Net investment income 47.1us-gaap_NetInvestmentIncome 40.0us-gaap_NetInvestmentIncome
Net realized gains (losses):    
Total other-than-temporary impairment (“OTTI”) losses (0.1)us-gaap_ImpairmentOfInvestments 0us-gaap_ImpairmentOfInvestments
Portion of OTTI losses recognized in other comprehensive income (“OCI”) (0.1)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
Net OTTI losses recognized in earnings (0.2)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
Net realized gains (losses), excluding OTTI losses (8.6)us-gaap_RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments (35.1)us-gaap_RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments
Net realized gains (losses) (8.8)us-gaap_RealizedInvestmentGainsLosses (35.1)us-gaap_RealizedInvestmentGainsLosses
Total revenues 131.2us-gaap_Revenues 96.7us-gaap_Revenues
BENEFITS AND EXPENSES:    
Policy benefits 99.7us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 72.1us-gaap_PolicyholderBenefitsAndClaimsIncurredNet
Policy acquisition cost amortization 15.5us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 16.7us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
Other operating expenses 65.4us-gaap_OperatingExpenses 23.5us-gaap_OperatingExpenses
Total benefits and expenses 180.6us-gaap_BenefitsLossesAndExpenses 112.3us-gaap_BenefitsLossesAndExpenses
Income (loss) before income taxes (49.4)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (15.6)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense (benefit) 2.8us-gaap_IncomeTaxExpenseBenefit (0.4)us-gaap_IncomeTaxExpenseBenefit
Net income (loss) (52.2)us-gaap_NetIncomeLoss (15.2)us-gaap_NetIncomeLoss
COMPREHENSIVE INCOME (LOSS):    
Net income (loss) (52.2)us-gaap_NetIncomeLoss (15.2)us-gaap_NetIncomeLoss
Other comprehensive income (loss) before income taxes:    
Unrealized investment gains (losses), net of related offsets 1.7us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax 13.0us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
Less: Income tax expense (benefit) related to:    
Unrealized investment gains (losses), net of related offsets 3.0phlvic_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesTaxBenefit 14.4phlvic_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesTaxBenefit
Other comprehensive income (loss), net of income taxes (1.3)us-gaap_OtherComprehensiveIncomeLossNetOfTax (1.4)us-gaap_OtherComprehensiveIncomeLossNetOfTax
Comprehensive income (loss) $ (53.5)us-gaap_ComprehensiveIncomeNetOfTax $ (16.6)us-gaap_ComprehensiveIncomeNetOfTax