REINSURANCE (Tables)

12 Months Ended

Dec. 31, 2013

	For The Year Ended December 31,
	2013			2012			2011
	(Dollars In Millions)
Direct life insurance in-force	$	726,697		$	706,416		$	728,670
Amounts assumed from other companies	46,752			30,470			32,813
Amounts ceded to other companies	(416,809		)	(444,951		)	(469,530		)
Net life insurance in-force	$	356,640		$	291,935		$	291,953

Percentage of amount assumed to net	13		%	10		%	11		%

Schedule of effect of reinsurance on life insurance premiums written and earned

	For The Year Ended December 31,
	2013			2012			2011
	(Dollars In Millions)
Direct premiums	$	2,372		$	2,227		$	2,245
Reinsurance assumed	307			282			248
Reinsurance ceded	(1,300		)	(1,229		)	(1,278		)
Net premiums(1)	$	1,379		$	1,280		$	1,215

Percentage of amount assumed to net	22		%	22		%	20		%

(1) Includes annuity policy fees of $88.7 million, $103.8 million, and $74.9 million for the years ended December 31, 2013, 2012, and 2011, respectively.

Schedule of receivables attributable to more significant reinsurance partners

	As of December 31,
	2013			2012
	Reinsurance		A.M. Best	Reinsurance		A.M. Best
	Receivable		Rating	Receivable		Rating
	(Dollars In Millions)
Swiss Re Life & Health America, Inc.	$	823.0	A+	$	739.6	A+
Security Life of Denver Insurance Company	819.3		A	768.9		A
Lincoln National Life Insurance Co.	553.7		A+	515.2		A+
Transamerica Life Insurance Co.	531.1		A+	524.1		A+
RGA Reinsurance Company	419.1		A+	377.6		A+
SCOR Global Life USA Reinsurance Company	402.7		A	237.3		A
American United Life Insurance Company	342.2		A+	334.8		A+
Scottish Re (U.S.), Inc. (1)	305.1		NR	290.7		NR
Employers Reassurance Corporation	289.2		A-	287.9		A-
Centre Reinsurance (Bermuda) Ltd	281.6		NR	—		NR

(1) As of July 30, 2013, Scottish Re Life Corporation was merged with and into Scottish Re (U.S.), Inc., and for comparative purposes the 2012 reinsurance receivable from these two companies has been combined.