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Derivative Instruments - Gains (Losses) Recognized in Realized Investment Gains (Losses) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]    
Total derivative instrument gains (losses) recognized in realized investment gains (losses) $ (13.5)us-gaap_GainLossOnDerivativeInstrumentsNetPretax $ (36.5)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
Interest rate swaps    
Derivative Instruments, Gain (Loss) [Line Items]    
Total derivative instrument gains (losses) recognized in realized investment gains (losses) 2.7us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_InterestRateSwapMember
5.0us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_InterestRateSwapMember
Variance swaps    
Derivative Instruments, Gain (Loss) [Line Items]    
Total derivative instrument gains (losses) recognized in realized investment gains (losses) (0.4)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_VarianceSwapMember
(0.6)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_VarianceSwapMember
Swaptions    
Derivative Instruments, Gain (Loss) [Line Items]    
Total derivative instrument gains (losses) recognized in realized investment gains (losses) (0.1)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_SwaptionMember
(18.3)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_SwaptionMember
Put options    
Derivative Instruments, Gain (Loss) [Line Items]    
Total derivative instrument gains (losses) recognized in realized investment gains (losses) (4.3)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_PutOptionMember
(4.1)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_PutOptionMember
Call options    
Derivative Instruments, Gain (Loss) [Line Items]    
Total derivative instrument gains (losses) recognized in realized investment gains (losses) (1.4)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_CallOptionMember
(3.0)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_CallOptionMember
Equity futures    
Derivative Instruments, Gain (Loss) [Line Items]    
Total derivative instrument gains (losses) recognized in realized investment gains (losses) 0.2us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_EquityFuturesMember
(2.6)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= phlvic_EquityFuturesMember
Embedded Derivative Financial Instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Total derivative instrument gains (losses) recognized in realized investment gains (losses) $ (10.2)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EmbeddedDerivativeFinancialInstrumentsMember
$ (12.9)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EmbeddedDerivativeFinancialInstrumentsMember