CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Tables)

12 Months Ended

Dec. 31, 2020

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS

Schedule of activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)

Activity relating to GMDB reserves (excluding those 100% ceded under the Modco agreement) is as follows:

	For The Year Ended December 31,
	2020		2019		2018
	(Dollars In Thousands)
Beginning balance	$	37,684	$	34,700	$	26,934
Great West beginning balance	—		7,457		—
Incurred guarantee benefits	1,184		(809)		11,065
Less: Paid guarantee benefits	4,797		3,664		3,299
Ending balance	$	34,071	$	37,684	$	34,700

Schedule of account balances of variable annuities with guarantees invested in variable annuity separate accounts

Account balances of variable annuities with guarantees invested in VA separate accounts are as follows:

	As of December 31,
	2020		2019
	(Dollars In Thousands)
Equity mutual funds	$	10,425,055	$	8,074,490
Fixed income mutual funds	4,631,099		4,167,158
Total	$	15,056,154	$	12,241,648

Schedule of activity in the Company's deferred sales inducement asset

Activity in the Company’s deferred sales inducement asset, recorded on the balance sheet in other assets was as follows:

	For The Year Ended December 31,
	2020		2019		2018
	(Dollars In Thousands)
Deferred asset, beginning of period	$	42,530	$	39,577	$	30,956
Amounts deferred	1,501		5,813		13,336
Amortization	(3,546)		(2,860)		(4,715)
Deferred asset, end of period	$	40,485	$	42,530	$	39,577