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Derivative Instruments - Fair Value Derivatives (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Derivatives, Fair Value [Line Items]    
Fair Value Assets $ 135.4us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral $ 157.5us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
Fair Value Liabilities 77.1us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral 85.6us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
Interest rate swaps    
Derivatives, Fair Value [Line Items]    
Notional Amount 149.0invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_InterestRateSwapMember
114.0invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_InterestRateSwapMember
Fair Value Assets 4.0us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_InterestRateSwapMember
9.7us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_InterestRateSwapMember
Fair Value Liabilities 0.4us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_InterestRateSwapMember
1.9us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_InterestRateSwapMember
Variance swaps    
Derivatives, Fair Value [Line Items]    
Notional Amount 0.9invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_VarianceSwapMember
0.9invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_VarianceSwapMember
Fair Value Assets 0us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_VarianceSwapMember
0us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_VarianceSwapMember
Fair Value Liabilities 9.0us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_VarianceSwapMember
8.6us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_VarianceSwapMember
Swaptions    
Derivatives, Fair Value [Line Items]    
Notional Amount   777.0invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_SwaptionMember
Fair Value Assets   0.2us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_SwaptionMember
Fair Value Liabilities   0us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_SwaptionMember
Put options    
Derivatives, Fair Value [Line Items]    
Notional Amount 677.5invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_PutOptionMember
677.5invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_PutOptionMember
Fair Value Assets 25.1us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_PutOptionMember
29.4us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_PutOptionMember
Fair Value Liabilities 0us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_PutOptionMember
0us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_PutOptionMember
Call options    
Derivatives, Fair Value [Line Items]    
Notional Amount 2,169.3invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_CallOptionMember
2,019.2invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_CallOptionMember
Fair Value Assets 106.3us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_CallOptionMember
118.2us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_CallOptionMember
Fair Value Liabilities 67.7us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_CallOptionMember
74.6us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_CallOptionMember
Equity futures    
Derivatives, Fair Value [Line Items]    
Notional Amount   2.9invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_EquityFuturesMember
Fair Value Assets   0us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_EquityFuturesMember
Fair Value Liabilities   0.5us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_EquityFuturesMember
Total derivative instruments    
Derivatives, Fair Value [Line Items]    
Notional Amount 2,996.7invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_TotalDerivativeInstrumentsMember
3,591.5invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_TotalDerivativeInstrumentsMember
Fair Value Assets 135.4us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_TotalDerivativeInstrumentsMember
157.5us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_TotalDerivativeInstrumentsMember
Fair Value Liabilities $ 77.1us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_TotalDerivativeInstrumentsMember
$ 85.6us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_TotalDerivativeInstrumentsMember