Investments (Tables)

9 Months Ended

Sep. 30, 2013

Investments Schedule [Abstract]

Summary of Fixed Maturities and Equity Securities Available for Sale by Component

A summary of fixed maturities and equity securities available for sale by cost or amortized cost and estimated fair value at September 30, 2013 is as follows.

Portfolio Composition as of September 30, 2013

	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		% of Total Fixed Maturities*
Fixed maturities available for sale:
Bonds:
U.S. Government direct, guaranteed, and government-sponsored enterprises	$	449,177	$	414	$	(55,301	)	$	394,290		3	%
States, municipalities, and political subdivisions		1,277,916		84,528		(10,428	)		1,352,016		11
Foreign governments		31,161		521		(46	)		31,636		0
Corporates		9,882,319		748,720		(278,103	)		10,352,936		81
Collateralized debt obligations		67,950		0		(14,877	)		53,073		1
Other asset-backed securities		36,113		2,592		(277	)		38,428		0
Redeemable preferred stocks		522,854		28,423		(16,739	)		534,538		4
Total fixed maturities		12,267,490		865,198		(375,771	)		12,756,917		100	%
Equity securities		875		779		0			1,654
Total fixed maturities and equity securities	$	12,268,365	$	865,977	$	(375,771	)	$	12,758,571

* At fair value

Schedule of Fixed Maturities by Contractual Maturity

A schedule of fixed maturities by contractual maturity date at September 30, 2013 is shown below on an amortized cost basis and on a fair value basis. Actual maturity dates could differ from contractual maturities due to call or prepayment provisions.

	Amortized Cost		Fair Value
Fixed maturities available for sale:
Due in one year or less	$	106,594	$	108,669
Due from one to five years		500,210		547,597
Due from five to ten years		908,195		983,269
Due from ten to twenty years		2,923,264		3,166,802
Due after twenty years		7,721,773		7,855,364
Mortgage-backed and asset-backed securities		107,454		95,216
	$	12,267,490	$	12,756,917

Schedule of Selected Information about Sales of Fixed Maturities

Selected information about sales of fixed maturities is as follows.

For the nine months ended September 30,
	2013			2012
Proceeds from sales	$	78,751		$	148,597
Gross realized gains		4,310			12,606
Gross realized losses		(788	)		(240	)

Assets Measured at Fair Value on Recurring Basis

The following table represents assets measured at fair value on a recurring basis.

Fair Value Measurements at September 30, 2013 Using:

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
Fixed maturities available for sale:
Bonds:
U.S. Government direct, guaranteed, and government-sponsored enterprises	$	0		$	394,290		$	0		$	394,290
States, municipalities, and political subdivisions		0			1,352,016			0			1,352,016
Foreign governments		0			31,636			0			31,636
Corporates		53,532			10,059,649			239,755			10,352,936
Collateralized debt obligations		0			0			53,073			53,073
Other asset-backed securities		0			38,428			0			38,428
Redeemable preferred stocks		22,320			512,218			0			534,538
Total fixed maturities		75,852			12,388,237			292,828			12,756,917
Equity securities		878			0			776			1,654
Total fixed maturities and equity securities	$	76,730		$	12,388,237		$	293,604		$	12,758,571
Percent of total		0.6	%		97.1	%		2.3	%		100.0	%

Schedule of Unrealized Investment Losses by Class of Investment

The following table discloses unrealized investment losses by class of investment at September 30, 2013. Torchmark considers these investments not to be other-than-temporarily impaired.

Analysis of Gross Unrealized Investment Losses

At September 30, 2013

	Less than Twelve Months					Twelve Months or Longer					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Fixed maturities available for sale:
Bonds:
U.S. Government direct, guaranteed, and government-sponsored enterprises	$	371,080	$	(55,299	)	$	127	$	(2	)	$	371,207	$	(55,301	)
States, municipalities and political subdivisions		145,656		(10,428	)		0		0			145,656		(10,428	)
Foreign governments		10,612		(46	)		0		0			10,612		(46	)
Corporates		2,746,725		(234,356	)		280,220		(43,747	)		3,026,945		(278,103	)
Collateralized debt obligations		125		0			52,948		(14,877	)		53,073		(14,877	)
Other asset-backed securities		6,790		(210	)		3,961		(67	)		10,751		(277	)
Redeemable preferred stocks		110,365		(4,284	)		71,948		(12,455	)		182,313		(16,739	)
Total fixed maturities		3,391,353		(304,623	)		409,204		(71,148	)		3,800,557		(375,771	)
Equity securities		0		0			0		0			0		0
Total fixed maturities and equity securities	$	3,391,353	$	(304,623	)	$	409,204	$	(71,148	)	$	3,800,557	$	(375,771	)

Schedule of Additional Information About Investments in Unrealized Loss Position

Additional information about investments in an unrealized loss position is as follows.

	Less than Twelve Months		Twelve Months or Longer		Total
Number of issues (Cusip numbers) held:
As of September 30, 2013		466		73		539
As of December 31, 2012		195		95		290