Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Total Federal income taxes were allocated as follows:

	Years Ended December 31,
	2014			2013		2012
	(In thousands)
Taxes (benefits) on earnings from continuing operations:
Current	$	29,395		71,709		51,886
Deferred	22,538			(26,259	)	(3,863	)
Taxes on earnings	51,933			45,450		48,023
Taxes (benefits) on components of stockholders' equity:
Net unrealized gains and losses on securities available for sale	4,072			(24,201	)	13,011
Foreign currency translation adjustments	(358		)	(398	)	(157	)
Change in benefit liability	(1,777		)	3,005		(410	)
Total Federal income taxes (benefit)	$	53,870		23,856		60,467

Schedule of Income Tax Reconciliation

The reasons for the differences and the corresponding tax effects are as follows:

	Years Ended December 31,
	2014			2013		2012
	(In thousands)
Income tax expense at statutory rate of 35%	$	55,133		49,594		49,204
Dividend received deduction	(1,076		)	(1,140	)	(1,292	)
Tax exempt interest	(2,155		)	(2,065	)	(1,977	)
Tax adjustment on foreign currency	(358		)	(214	)	245
Adjustments pertaining to prior tax years	1			(273	)	1,244
Nondeductible insurance	160			160		160
Nondeductible expenses	277			121		112
Amortization of life interest in a trust	—			—		116
Other, net	(49		)	(733	)	211
Taxes on earnings from continuing operations	$	51,933		45,450		48,023

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below.

	December 31,
	2014			2013
	(In thousands)
Deferred tax assets:
Future policy benefits, excess of financial accounting liabilities over tax liabilities	$	292,262		305,795
Investment securities write-downs for financial accounting purposes	6,246			7,523
Pension liabilities	11,333			9,055
Accrued operating expenses recorded for financial accounting purposes not currently tax deductible	5,588			6,778
Foreign currency translation adjustments	4,318			4,355
Accrued and unearned investment income recognized for tax purposes and deferred for financial accounting purposes	390			369
Other	6			6
Total gross deferred tax assets	320,143			333,881
Deferred tax liabilities:
Deferred policy acquisition and sales inducement costs, principally expensed for tax purposes	(311,680		)	(305,700	)
Debt securities, principally due to deferred market discount for tax	(8,477		)	(8,017	)
Real estate, principally due to adjustments for financial accounting purposes	(1,023		)	(949	)
Net unrealized gains on securities available for sale	(25,185		)	(21,150	)
Fixed assets, due to different bases	(757		)	(897	)
Other	(4,696		)	(4,367	)
Total gross deferred tax liabilities	(351,818		)	(341,080	)
Net deferred tax liabilities	$	(31,675	)	(7,199	)