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Short Duration Contracts
 9 Months Ended
Sep. 30, 2018
Short Duration Contracts [Abstract]  
Short-Duration Insurance and Deposit Contracts [Text Block]
Short Duration Contracts

The Company's short duration contracts consist of credit life and credit disability in the Life segment and property insurance in the Home Service segment. The following table presents information on changes in the liability for credit life, credit disability, and property policy and contract claims for the periods ended September 30, 2018 and September 30, 2017.

 
September 30,
 
2018
 
2017
 
(In thousands)
Policy claims payable at January 1,
$
570

 
543

Less:  reinsurance recoverable
—

 
—

Net balance at January 1,
570

 
543

Add claims incurred, related to:
 

 
 

Current year
1,441

 
1,435

Prior years
(176
)
 
(11
)
 
1,265

 
1,424

Deduct claims paid, related to:
 

 
 

Current year
1,163

 
1,106

Prior years
310

 
407

 
1,473

 
1,513

Net balance September 30,
362

 
454

Plus:  reinsurance recoverable
—

 
—

Policy claims payable, September 30,
$
362

 
454



Prior year development is due to normal claim settlements and actuarial changes in claims payable estimates.