Deferred Policy Acquisition Costs and Cost of Insurance Acquired (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Policy Acquisition Costs [Table Text Block]

The following tables roll forward the DAC and COIA balances for the years ended December 31, 2023 and 2022 by reporting cohort. Our reporting cohorts are Permanent, which summarizes insurance policies with premiums payable over the lifetime of the policy, and Permanent Limited Pay, which summarizes insurance policies with premiums payable for a limited time after which the policy is fully paid up. Both reporting cohorts include whole life and endowment policies.

DAC


	Year Ended December 31, 2023
(In thousands)	Permanent		Permanent Limited Pay	Other Business	Total
Life Insurance:
Balance, beginning of year	$	100,926	11,542	1,016	113,484
Capitalizations	16,451		3,332	468	20,251
Amortization expense	(11,825)		(799)	(271)	(12,895)

Balance, end of year	105,552		14,075	1,213	120,840

Home Service Insurance:
Balance, beginning of year	38,793		9,729	921	49,443
Capitalizations	6,570		1,232	248	8,050
Amortization expense	(2,083)		(397)	(85)	(2,565)

Balance, end of year	43,280		10,564	1,084	54,928

Consolidated:
Balance, beginning of year	139,719		21,271	1,937	162,927
Capitalizations	23,021		4,564	716	28,301
Amortization expense	(13,908)		(1,196)	(356)	(15,460)

Balance, end of year	$	148,832	24,639	2,297	175,768


	Year Ended December 31, 2022
(In thousands)	Permanent		Permanent Limited Pay	Other Business	Total
Life Insurance:
Balance, beginning of year	$	97,675	9,001	1,026	107,702
Capitalizations	14,599		3,193	150	17,942
Amortization expense	(11,348)		(652)	(160)	(12,160)

Balance, end of year	100,926		11,542	1,016	113,484

Home Service Insurance:
Balance, beginning of year	35,137		8,723	856	44,716
Capitalizations	5,501		1,372	84	6,957
Amortization expense	(1,845)		(366)	(19)	(2,230)

Balance, end of year	38,793		9,729	921	49,443

Consolidated:
Balance, beginning of year	132,812		17,724	1,882	152,418
Capitalizations	20,100		4,565	234	24,899
Amortization expense	(13,193)		(1,018)	(179)	(14,390)

Balance, end of year	$	139,719	21,271	1,937	162,927

Cost of Insurance Acquired [Table Text Block]


	Year Ended December 31, 2023
(In thousands)	Permanent		Permanent Limited Pay	Other Business	Total
Life Insurance:
Balance, beginning of year	$	267	750	444	1,461
Amortization expense	(18)		(55)	(38)	(111)

Balance, end of year	249		695	406	1,350

Home Service Insurance:
Balance, beginning of year	7,583		176	1,427	9,186
Amortization expense	(389)		(8)	(96)	(493)

Balance, end of year	7,194		168	1,331	8,693

Consolidated:
Balance, beginning of year	7,850		926	1,871	10,647
Amortization expense	(407)		(63)	(134)	(604)

Balance, end of year	$	7,443	863	1,737	10,043


	Year Ended December 31, 2022
(In thousands)	Permanent		Permanent Limited Pay	Other Business	Total
Life Insurance:
Balance, beginning of year	$	287	812	485	1,584
Amortization expense	(20)		(62)	(41)	(123)

Balance, end of year	267		750	444	1,461

Home Service Insurance:
Balance, beginning of year	7,989		184	1,511	9,684
Amortization expense	(406)		(8)	(84)	(498)

Balance, end of year	7,583		176	1,427	9,186

Consolidated:
Balance, beginning of year	8,276		996	1,996	11,268
Amortization expense	(426)		(70)	(125)	(621)

Balance, end of year	$	7,850	926	1,871	10,647

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Estimated amortization of COIA in each of the next five years and thereafter is as follows. Actual future amortization will differ from these estimates due to variances from estimated future withdrawal assumptions.


(In thousands)	Amount
Cost of insurance acquired:
Year:
2024	$	647
2025	599
2026	555
2027	515
2028	479
Thereafter	7,248
Total cost of insurance acquired	$	10,043