Related Party Transactions	6 Months Ended
Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The amounts included in the following discussion are gross expenses, before deferrals for policy acquisition costs. Service agreements The Company has entered into an agreement with Phoenix Life to provide substantially all general insurance expenses related to the Company, including rent and employee benefit plan expenses. Expenses are allocated to the Company using specific identification or activity-based costing. The expenses allocated to us were $63.2 million and $18.4 million for the three months ended June 30, 2015 and 2014, respectively, and $87.1 million and $37.4 million for the six months ended June 30, 2015 and 2014, respectively. The Company also provides payment processing services for policy-related transactions and commissions on behalf of Phoenix Life and Phoenix Life and Annuity. We do not charge any fees for these services. Reinsurance agreements The Company cedes risk associated with certain universal life contracts and the associated riders to Phoenix Life. The reinsurance transaction between the Company and Phoenix Life is structured as a coinsurance agreement. Effective June 30, 2015, the Company entered into a modco reinsurance agreement with Phoenix Life. The reinsurance agreement was entered into to optimize the statutory capital deployment of the operating subsidiaries of Phoenix. This agreement provides that Phoenix Life will retrocede, and the Company will reinsure, 80% of the inforce GEO corporate-owned whole life insurance policies assumed by Phoenix Life from a third-party. Under modco, the assets, which are equal to the statutory reserves held for the reinsured policies, and liabilities associated with the assumed business are retained by Phoenix Life, and the Company will receive the economic risks and rewards related to the assumed business through modco adjustments. As of June 30, 2015, the assets and insurance liabilities associated with the assumed business were $827.2 million and $811.1 million, respectively. The Company, having the right of offset, has offset the modco asset and liability. Under the agreement, the Company will pay $162.1 million to Phoenix Life in the form of an initial ceding commission, which was payable at June 30, 2015. At June 30, 2015, the Company deferred the cost of acquiring the reinsurance of $146.0 million, primarily representing the initial ceding commission. The loss will be amortized into income over the life of the underlying business in accordance with the Company’s accounting policy for reinsurance of long-duration life insurance products. See Note 4 in Part II, Item 8 “Financial Statements and Supplementary Data,” of the 2014 Form 10-K for additional information on related party transactions. Underwriting agreements 1851 Securities Inc. (“1851”), a wholly owned subsidiary of PM Holdings, Inc., is the principal underwriter of the Company’s variable life insurance policies and variable annuity contracts. Phoenix Life reimburses 1851 for commissions incurred on our behalf and we in turn reimburse Phoenix Life. Commissions incurred were $1.6 million and $1.7 million for the three months ended June 30, 2015 and 2014, respectively, and $3.2 million and $3.3 million for the six months ended June 30, 2015 and 2014, respectively. Sales agreements Saybrus, a majority-owned subsidiary of Phoenix, provides life insurance and annuity wholesaling services. Commissions paid to Saybrus were $3.9 million and $3.0 million for the three months ended June 30, 2015 and 2014, respectively, and $7.2 million and $5.6 million for the six months ended June 30, 2015 and 2014, respectively. Commission amounts payable to Saybrus were $0.3 million and $0.9 million as of June 30, 2015 and December 31, 2014, respectively. Saybrus Equity Services, Inc. (“Saybrus Equity”), a wholly owned subsidiary of Saybrus provides wholesaling services to various third party distributors and affiliates of variable life insurance and variable annuities. Commissions paid by Saybrus Equity on our behalf were immaterial as of June 30, 2015 and 2014, respectively. Commission amounts payable to Saybrus Equity were immaterial as of June 30, 2015 and December 31, 2014, respectively. Indebtedness due to affiliate PHL Variable issued $30.0 million of surplus notes on December 30, 2013 which were purchased by Phoenix. The notes are due on December 30, 2043. Interest is paid annually at a rate of 10.5% and requires the prior approval of the Insurance Commissioner of the State of Connecticut. Payments may be made only out of surplus funds as defined under applicable law and regulations of the State of Connecticut. Upon approval by the Insurance Commissioner, the notes may be redeemed at any time, either in whole or in part, at a redemption price of 100% plus accrued interest to the date set for the redemption. Connecticut Law provides that the notes are not part of the legal liabilities of PHL Variable. The Company incurred interest expense of $0.8 million and $0.8 million related to these notes for the three months ended June 30, 2015 and 2014, respectively.

Related Party Transactions

The amounts included in the following discussion are gross expenses, before deferrals for policy acquisition costs.

Service agreements

The Company has entered into an agreement with Phoenix Life to provide substantially all general insurance expenses related to the Company, including rent and employee benefit plan expenses. Expenses are allocated to the Company using specific identification or activity-based costing. The expenses allocated to us were $63.2 million and $18.4 million for the three months ended June 30, 2015 and 2014, respectively, and $87.1 million and $37.4 million for the six months ended June 30, 2015 and 2014, respectively.

The Company also provides payment processing services for policy-related transactions and commissions on behalf of Phoenix Life and Phoenix Life and Annuity. We do not charge any fees for these services.

Reinsurance agreements

The Company cedes risk associated with certain universal life contracts and the associated riders to Phoenix Life. The reinsurance transaction between the Company and Phoenix Life is structured as a coinsurance agreement.

Effective June 30, 2015, the Company entered into a modco reinsurance agreement with Phoenix Life. The reinsurance agreement was entered into to optimize the statutory capital deployment of the operating subsidiaries of Phoenix. This agreement provides that Phoenix Life will retrocede, and the Company will reinsure, 80% of the inforce GEO corporate-owned whole life insurance policies assumed by Phoenix Life from a third-party. Under modco, the assets, which are equal to the statutory reserves held for the reinsured policies, and liabilities associated with the assumed business are retained by Phoenix Life, and the Company will receive the economic risks and rewards related to the assumed business through modco adjustments. As of June 30, 2015, the assets and insurance liabilities associated with the assumed business were $827.2 million and $811.1 million, respectively. The Company, having the right of offset, has offset the modco asset and liability. Under the agreement, the Company will pay $162.1 million to Phoenix Life in the form of an initial ceding commission, which was payable at June 30, 2015.

At June 30, 2015, the Company deferred the cost of acquiring the reinsurance of $146.0 million, primarily representing the initial ceding commission. The loss will be amortized into income over the life of the underlying business in accordance with the Company’s accounting policy for reinsurance of long-duration life insurance products.

See Note 4 in Part II, Item 8 “Financial Statements and Supplementary Data,” of the 2014 Form 10-K for additional information on related party transactions.

Underwriting agreements

1851 Securities Inc. (“1851”), a wholly owned subsidiary of PM Holdings, Inc., is the principal underwriter of the Company’s variable life insurance policies and variable annuity contracts. Phoenix Life reimburses 1851 for commissions incurred on our behalf and we in turn reimburse Phoenix Life. Commissions incurred were $1.6 million and $1.7 million for the three months ended June 30, 2015 and 2014, respectively, and $3.2 million and $3.3 million for the six months ended June 30, 2015 and 2014, respectively.

Sales agreements

Saybrus, a majority-owned subsidiary of Phoenix, provides life insurance and annuity wholesaling services. Commissions paid to Saybrus were $3.9 million and $3.0 million for the three months ended June 30, 2015 and 2014, respectively, and $7.2 million and $5.6 million for the six months ended June 30, 2015 and 2014, respectively. Commission amounts payable to Saybrus were $0.3 million and $0.9 million as of June 30, 2015 and December 31, 2014, respectively.

Saybrus Equity Services, Inc. (“Saybrus Equity”), a wholly owned subsidiary of Saybrus provides wholesaling services to various third party distributors and affiliates of variable life insurance and variable annuities. Commissions paid by Saybrus Equity on our behalf were immaterial as of June 30, 2015 and 2014, respectively. Commission amounts payable to Saybrus Equity were immaterial as of June 30, 2015 and December 31, 2014, respectively.

Indebtedness due to affiliate

PHL Variable issued $30.0 million of surplus notes on December 30, 2013 which were purchased by Phoenix. The notes are due on December 30, 2043. Interest is paid annually at a rate of 10.5% and requires the prior approval of the Insurance Commissioner of the State of Connecticut. Payments may be made only out of surplus funds as defined under applicable law and regulations of the State of Connecticut. Upon approval by the Insurance Commissioner, the notes may be redeemed at any time, either in whole or in part, at a redemption price of 100% plus accrued interest to the date set for the redemption. Connecticut Law provides that the notes are not part of the legal liabilities of PHL Variable. The Company incurred interest expense of $0.8 million and $0.8 million related to these notes for the three months ended June 30, 2015 and 2014, respectively.