CNO Financial (CNO) 10-Q 3 Nov 15 2015 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2015	Oct. 22, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	CNO Financial Group, Inc.
Entity Central Index Key	1,224,608
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Filer Category	Large Accelerated Filer
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Common Stock, Shares Outstanding		185,960,817

CONSOLIDATED BALANCE SHEET (una

CONSOLIDATED BALANCE SHEET (unaudited) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Investments:
Fixed maturities, available for sale, at fair value (amortized cost: September 30, 2015 - $18,772.7; December 31, 2014 - $18,408.1)	$ 20,144.5	$ 20,634.9
Equity securities at fair value (cost: September 30, 2015 - $429.7; December 31, 2014 - $400.5)	437.3	419
Mortgage loans	1,712.6	1,691.9
Policy loans	109.5	106.9
Trading securities	257.5	244.9
Investments held by variable interest entities	1,488.1	1,367.1
Other invested assets	395.6	443.6
Total investments	24,545.1	24,908.3
Cash and cash equivalents - unrestricted	613.8	611.6
Cash and cash equivalents held by variable interest entities	106.9	68.3
Accrued investment income	260.7	242.9
Present value of future profits	454.4	489.4
Deferred acquisition costs	909.1	770.6
Reinsurance receivables	2,903.3	2,991.1
Income tax assets, net	862.3	758.7
Assets held in separate accounts	5	5.6
Other assets	350.6	337.7
Total assets	31,011.2	31,184.2
Liabilities for insurance products:
Policyholder account balances	10,728	10,707.2
Future policy benefits	10,691.6	10,835.4
Liability for policy and contract claims	484.1	468.7
Unearned and advanced premiums	281.4	291.8
Liabilities related to separate accounts	5	5.6
Other liabilities	739.1	587.6
Investment borrowings	1,543.7	1,519.2
Borrowings related to variable interest entities	1,442.3	1,286.1
Notes payable – direct corporate obligations	925	794.4
Total liabilities	$ 26,840.2	$ 26,496
Commitments and Contingencies
Shareholders' equity:
Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: September 30, 2015 – 186,741,760; December 31, 2014 – 203,324,458)	$ 1.9	$ 2
Additional paid-in capital	3,435.8	3,732.4
Accumulated other comprehensive income	510.4	825.3
Retained earnings	222.9	128.5
Total shareholders' equity	4,171	4,688.2
Total liabilities and shareholders' equity	$ 31,011.2	$ 31,184.2

CONSOLIDATED BALANCE SHEET (un3

CONSOLIDATED BALANCE SHEET (unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Investments:
Fixed maturities, available for sale, amortized cost	$ 18,772.7	$ 18,408.1
Equity securities cost	$ 429.7	$ 400.5
Shareholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	8,000,000,000	8,000,000,000
Common stock, shares issued (in shares)	186,741,760	203,324,458
Common stock, shares outstanding (in shares)	186,741,760	203,324,458

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Insurance policy income	$ 640.6	$ 632.1	$ 1,917.2	$ 1,997
Net investment income (loss):
General account assets	298.2	300.1	900.4	995.6
Policyholder and reinsurer accounts and other special-purpose portfolios	(27.6)	14.8	0.8	82.9
Realized investment gains (losses):
Net realized investment gains (losses), excluding impairment losses	(7.2)	6.8	(10.5)	54.5
Other-than-temporary impairments:
Total other-than-temporary impairment losses	(15.4)	(2.8)	(24.6)	(14.7)
Portion of other-than-temporary impairment losses recognized in accumulated other comprehensive income	3	0	3	0
Net impairment losses recognized	(12.4)	(2.8)	(21.6)	(14.7)
Gain on dissolution of a variable interest entity	0	0	11.3	0
Total realized gains (losses)	(19.6)	4	(20.8)	39.8
Fee revenue and other income	12.9	16	44.7	29.4
Total revenues	904.5	967	2,842.3	3,144.7
Benefits and expenses:
Insurance policy benefits	582.1	565.5	1,756.4	1,946.9
Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses	0	(32.1)	9	242.7
Interest expense	23.9	21.9	70.7	70.8
Amortization	55.8	65.8	195.6	197.4
Loss on extinguishment or modification of debt	0	0	32.8	0.6
Other operating costs and expenses	190.3	191.5	570.4	587.1
Total benefits and expenses	852.1	812.6	2,634.9	3,045.5
Income before income taxes	52.4	154.4	207.4	99.2
Income tax expense:
Tax expense on period income	18.6	53.8	74	133.1
Valuation allowance for deferred tax assets and other tax items	0	(16.8)	0	(1.4)
Net income (loss)	$ 33.8	$ 117.4	$ 133.4	$ (32.5)
Basic:
Weighted average shares outstanding (in shares)	190,260	210,525	195,536	215,790
Net income (loss) (in dollars per share)	$ 0.18	$ 0.56	$ 0.68	$ (0.15)
Diluted:
Weighted average shares outstanding (in shares)	192,365	215,458	197,571	215,790
Net income (loss) (in dollars per share)	$ 0.18	$ 0.54	$ 0.68	$ (0.15)

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 33.8	$ 117.4	$ 133.4	$ (32.5)
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent [Abstract]
Unrealized gains (losses) for the period	(136)	(116.2)	(883.1)	756.7
Amortization of present value of future profits and deferred acquisition costs	11.2	15.8	101.4	(103.6)
Amount related to premium deficiencies assuming the net unrealized gains (losses) had been realized	(40.5)	11.8	269.8	(405.8)
Reclassification adjustments:
For net realized investment (gains) losses included in net income (loss)	17.7	(15.5)	19.5	(51.2)
For amortization of the present value of future profits and deferred acquisition costs related to net realized investment gains (losses) included in net income (loss)	(0.6)	0.1	(0.5)	0.6
Unrealized gains (losses) on investments	(148.2)	(104)	(492.9)	196.7
Change related to deferred compensation plan	1.2	0.3	3.7	1
Other comprehensive income (loss) before tax	(147)	(103.7)	(489.2)	197.7
Income tax (expense) benefit related to items of accumulated other comprehensive income (loss)	52.4	36.9	174.3	(70.2)
Other comprehensive income (loss), net of tax	(94.6)	(66.8)	(314.9)	127.5
Comprehensive income (loss)	$ (60.8)	$ 50.6	$ (181.5)	$ 95

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Millions	Total	Common stock and additional paid-in capital [Member]	Accumulated other comprehensive income [Member]	Retained earnings [Member]
Balance, beginning of period at Dec. 31, 2013	$ 4,955.2	$ 4,095	$ 731.8	$ 128.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(32.5)			(32.5)
Change in unrealized appreciation (depreciation) of investments (net of applicable income tax expense (benefit))	127.9		127.9
Change in noncredit component of impairment losses on fixed maturities, available for sale (net of applicable income tax expense (benefit))	(0.4)		(0.4)
Cost of common stock and warrants repurchased	(301.5)	(301.5)
Dividends on common stock	(39)			(39)
Stock options, restricted stock and performance units	12.3	12.3
Balance, end of period at Sep. 30, 2014	4,722	3,805.8	859.3	56.9
Balance, beginning of period at Dec. 31, 2014	4,688.2	3,734.4	825.3	128.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	133.4			133.4
Change in unrealized appreciation (depreciation) of investments (net of applicable income tax expense (benefit))	(313.6)		(313.6)
Change in noncredit component of impairment losses on fixed maturities, available for sale (net of applicable income tax expense (benefit))	(1.3)		(1.3)
Cost of common stock and warrants repurchased	(311.2)	(311.2)
Dividends on common stock	(39)			(39)
Stock options, restricted stock and performance units	14.5	14.5
Balance, end of period at Sep. 30, 2015	$ 4,171	$ 3,437.7	$ 510.4	$ 222.9

CONSOLIDATED STATEMENT OF SHAR7

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (unaudited) (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Stockholders' Equity [Abstract]
Change in unrealized appreciation (depreciation) of investments, applicable income tax expense (benefit)	$ (173.6)	$ 70.4
Change in noncredit component of impairment losses on fixed maturities, available for sale, applicable income tax expense (benefit)	$ (0.7)	$ (0.2)

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Insurance policy income		$ 1,811.6	$ 1,783.2
Net investment income		885.4	966.2
Fee revenue and other income		44.7	29.4
Insurance policy benefits		(1,414.2)	(1,506.8)
Payment to reinsurer pursuant to long-term care business reinsured		0	(590.3)
Interest expense		(53.5)	(59.7)
Deferrable policy acquisition costs		(181.9)	(176.6)
Other operating costs		(553.5)	(566.5)
Taxes		(3.3)	(2.8)
Net cash from operating activities	[1]	535.3	(123.9)
Cash flows from investing activities:
Sales of investments		1,461.2	1,695
Maturities and redemptions of investments		1,427.8	1,323.5
Purchases of investments		(3,281.7)	(2,982)
Net sales (purchases) of trading securities		(8.2)	8
Change in cash and cash equivalents held by variable interest entities		(38.6)	(46.4)
Cash and cash equivalents held by subsidiary prior to being sold		0	(164.7)
Proceeds from sale of subsidiary		0	232.9
Other		(18.6)	(19.8)
Net cash provided (used) by investing activities		(458.1)	46.5
Cash flows from financing activities:
Issuance of notes payable, net		909	0
Payments on notes payable		(797.1)	(43.1)
Expenses related to extinguishment or modification of debt		(17.8)	(0.5)
Issuance of common stock		5.3	4.7
Payments to repurchase common stock		(306.2)	(297)
Common stock dividends paid		(39)	(39)
Amounts received for deposit products		908.1	971.2
Withdrawals from deposit products		(930.5)	(1,047.6)
Issuance of investment borrowings:
Federal Home Loan Bank		300	350
Related to variable interest entities		274.8	347.1
Payments on investment borrowings:
Federal Home Loan Bank		(275.5)	(367.6)
Related to variable interest entities and other		(106.1)	(68.1)
Investment borrowings - repurchase agreements, net		0	20.4
Net cash used by financing activities		(75)	(169.5)
Net increase (decrease) in cash and cash equivalents		2.2	(246.9)
Cash and cash equivalents, beginning of period		611.6	699
Cash and cash equivalents, end of period		$ 613.8	$ 452.1
[1]	Cash flows from operating activities reflect outflows in the 2014 period due to the payment to reinsurer to transfer certain long-term care business.

BUSINESS AND BASIS OF PRESENTAT

BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS AND BASIS OF PRESENTATION	BUSINESS AND BASIS OF PRESENTATION The following notes should be read together with the notes to the consolidated financial statements included in our 2014 Annual Report on Form 10-K as retrospectively updated by the Current Report on Form 8-K filed on May 11, 2015 reflecting updated disclosures of operating earnings performance measures. CNO Financial Group, Inc., a Delaware corporation ("CNO"), is a holding company for a group of insurance companies operating throughout the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. The terms "CNO Financial Group, Inc.", "CNO", the "Company", "we", "us", and "our" as used in these financial statements refer to CNO and its subsidiaries. Such terms, when used to describe insurance business and products, refer to the insurance business and products of CNO's insurance subsidiaries. We focus on serving middle-income pre-retiree and retired Americans, which we believe are attractive, underserved, high growth markets. We sell our products through three distribution channels: career agents, independent producers (some of whom sell one or more of our product lines exclusively) and direct marketing. Our unaudited consolidated financial statements reflect normal recurring adjustments that, in the opinion of management, are necessary for a fair statement of our financial position, results of operations and cash flows for the periods presented. As permitted by rules and regulations of the Securities and Exchange Commission (the "SEC") applicable to quarterly reports on Form 10-Q, we have condensed or omitted certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). We have reclassified certain amounts from the prior periods to conform to the 2015 presentation. These reclassifications have no effect on net income or shareholders' equity. Results for interim periods are not necessarily indicative of the results that may be expected for a full year. The balance sheet at December 31, 2014, presented herein, has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. When we prepare financial statements in conformity with GAAP, we are required to make estimates and assumptions that significantly affect reported amounts of various assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting periods. For example, we use significant estimates and assumptions to calculate values for deferred acquisition costs, the present value of future profits, fair value measurements of certain investments (including derivatives), other-than-temporary impairments of investments, assets and liabilities related to income taxes, liabilities for insurance products, liabilities related to litigation and guaranty fund assessment accruals. If our future experience differs from these estimates and assumptions, our financial statements would be materially affected. The accompanying financial statements include the accounts of the Company and its subsidiaries. Our consolidated financial statements exclude transactions between us and our consolidated affiliates, or among our consolidated affiliates.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS We classify our fixed maturity securities into one of two categories: (i) "available for sale" (which we carry at estimated fair value with any unrealized gain or loss, net of tax and related adjustments, recorded as a component of shareholders' equity); or (ii) "trading" (which we carry at estimated fair value with changes in such value recognized as net investment income (classified as investment income from policyholder and reinsurer accounts and other special-purpose portfolios)). Our trading securities include: (i) investments purchased with the intent of selling in the near term to generate income; (ii) investments supporting certain insurance liabilities (including investments backing the market strategies of our multibucket annuity products) and certain reinsurance agreements; and (iii) certain fixed maturity securities containing embedded derivatives for which we have elected the fair value option. The change in fair value of the income generating investments and investments supporting insurance liabilities and reinsurance agreements is recognized in income from policyholder and reinsurer accounts and other special-purpose portfolios (a component of net investment income). The change in fair value of securities with embedded derivatives is recognized in realized investment gains (losses). Investment income related to investments supporting certain insurance liabilities and certain reinsurance agreements is substantially offset by the change in insurance policy benefits related to certain products and agreements. Accumulated other comprehensive income is primarily comprised of the net effect of unrealized appreciation (depreciation) on our investments. These amounts, included in shareholders' equity as of September 30, 2015 and December 31, 2014 , were as follows (dollars in millions): September 30, December 31, Net unrealized appreciation (depreciation) on fixed maturity securities, available for sale, on which an other-than-temporary impairment loss has been recognized $ 3.1 $ 5.3 Net unrealized gains on all other investments 1,346.3 2,207.7 Adjustment to present value of future profits (a) (132.5 ) (149.9 ) Adjustment to deferred acquisition costs (290.7 ) (390.5 ) Adjustment to insurance liabilities (127.9 ) (381.4 ) Unrecognized net loss related to deferred compensation plan (4.8 ) (8.5 ) Deferred income tax liabilities (283.1 ) (457.4 ) Accumulated other comprehensive income $ 510.4 $ 825.3 ________ (a) The present value of future profits is the value assigned to the right to receive future cash flows from contracts existing at September 10, 2003, the date Conseco, Inc., an Indiana corporation (our "Predecessor"), emerged from bankruptcy. At September 30, 2015 , adjustments to the present value of future profits, deferred acquisition costs, insurance liabilities and deferred tax assets included $(115.0) million , $(139.7) million , $(127.9) million and $135.9 million , respectively, for premium deficiencies that would exist on certain products (primarily long-term care) if unrealized gains on the assets backing such products had been realized and the proceeds from the sales of such assets were invested at then current yields. At September 30, 2015 , the amortized cost, gross unrealized gains and losses, estimated fair value, other-than-temporary impairments in accumulated other comprehensive income of fixed maturities, available for sale, and equity securities were as follows (dollars in millions): Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Other-than-temporary impairments included in accumulated other comprehensive income Corporate securities $ 12,280.0 $ 1,159.0 $ (241.2 ) $ 13,197.8 $ — United States Treasury securities and obligations of United States government corporations and agencies 137.4 25.5 — 162.9 — States and political subdivisions 2,024.7 241.2 (6.5 ) 2,259.4 (3.0 ) Debt securities issued by foreign governments 16.7 — (.2 ) 16.5 — Asset-backed securities 1,438.4 66.1 (4.9 ) 1,499.6 — Collateralized debt obligations 361.2 1.4 (1.2 ) 361.4 — Commercial mortgage-backed securities 1,464.9 60.4 (6.7 ) 1,518.6 — Mortgage pass-through securities 3.2 .3 — 3.5 — Collateralized mortgage obligations 1,046.2 79.6 (1.0 ) 1,124.8 (2.9 ) Total fixed maturities, available for sale $ 18,772.7 $ 1,633.5 $ (261.7 ) $ 20,144.5 $ (5.9 ) Equity securities $ 429.7 $ 12.1 $ (4.5 ) $ 437.3 The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at September 30, 2015 , by contractual maturity. Actual maturities will differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without penalties. In addition, structured securities (such as asset-backed securities, collateralized debt obligations, commercial mortgage-backed securities, mortgage pass-through securities and collateralized mortgage obligations, collectively referred to as "structured securities") frequently include provisions for periodic principal payments and permit periodic unscheduled payments. Amortized cost Estimated fair value (Dollars in millions) Due in one year or less $ 225.6 $ 230.0 Due after one year through five years 2,211.1 2,383.1 Due after five years through ten years 1,872.4 1,979.7 Due after ten years 10,149.7 11,043.8 Subtotal 14,458.8 15,636.6 Structured securities 4,313.9 4,507.9 Total fixed maturities, available for sale $ 18,772.7 $ 20,144.5 Net Realized Investment Gains (Losses) The following table sets forth the net realized investment gains (losses) for the periods indicated (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Fixed maturity securities, available for sale: Gross realized gains on sale $ 21.7 $ 8.3 $ 47.9 $ 54.7 Gross realized losses on sale (27.8 ) (2.6 ) (48.7 ) (11.1 ) Impairments: Total other-than-temporary impairment losses (11.1 ) — (12.4 ) — Other-than-temporary impairment losses recognized in accumulated other comprehensive income 3.0 — 3.0 — Net impairment losses recognized (8.1 ) — (9.4 ) — Net realized investment gains from fixed maturities (14.2 ) 5.7 (10.2 ) 43.6 Equity securities — 1.9 3.0 9.8 Commercial mortgage loans — (1.2 ) (2.3 ) (.1 ) Impairments of mortgage loans and other investments (4.3 ) (2.8 ) (12.2 ) (14.7 ) Gain on dissolution of a variable interest entity — — 11.3 — Other (a) (1.1 ) .4 (10.4 ) 1.2 Net realized investment gains (losses) $ (19.6 ) $ 4.0 $ (20.8 ) $ 39.8 _________________ (a) Changes in the estimated fair value of trading securities that we have elected the fair value option (and are still held as of the end of the respective periods) were $(4.7) million and $6.3 million for the nine months ended September 30, 2015 and 2014 , respectively. During the first nine months of 2015 , we recognized net realized investment losses of $20.8 million , which were comprised of: (i) $6.2 million of net losses from the sales of investments; (ii) an $11.3 million gain on the dissolution of a variable interest entity ("VIE"); (iii) the decrease in fair value of embedded derivatives related to a modified coinsurance agreement of $4.3 million ; and (iv) $21.6 million of writedowns of investments for other than temporary declines in fair value recognized through net income ( $24.6 million , prior to the $3.0 million of impairment losses recognized through accumulated other comprehensive income). During the first nine months of 2015 , a VIE that was required to be consolidated was dissolved. A gain of $11.3 million was recognized representing the difference between the borrowings of such VIE and the contractual distributions required following the liquidation of the underlying assets. During the first nine months of 2014 , we recognized net realized investment gains of $39.8 million , which were comprised of: (i) $48.4 million of net gains from the sales of investments (primarily fixed maturities); (ii) the increase in fair value of certain fixed maturity investments with embedded derivatives of $6.1 million ; and (iii) $14.7 million of writedowns of investments for other than temporary declines in fair value recognized through net income. Our fixed maturity investments are generally purchased in the context of various long-term strategies, including funding insurance liabilities, so we do not generally seek to generate short-term realized gains through the purchase and sale of such securities. In certain circumstances, including those in which securities are selling at prices which exceed our view of their underlying economic value, or when it is possible to reinvest the proceeds to better meet our long-term asset-liability objectives, we may sell certain securities. During the first nine months of 2015 , the $48.7 million of gross realized losses on sales of $416.7 million of fixed maturity securities, available for sale included: (i) $47.9 million related to various corporate securities (including $29.3 million related to sales of investments in the energy sector); and (ii) $.8 million of losses related to the sales of asset-backed securities. Securities are generally sold at a loss following unforeseen issue-specific events or conditions or shifts in perceived risks. These reasons include but are not limited to: (i) changes in the investment environment; (ii) expectation that the market value could deteriorate further; (iii) desire to reduce our exposure to an asset class, an issuer or an industry; (iv) prospective or actual changes in credit quality; or (v) changes in expected portfolio cash flows. During the first nine months of 2015 , we recognized $21.6 million of impairment losses recorded in earnings which included: (i) $7.4 million of writedowns on fixed maturities in the energy sector; (ii) $3.6 million of writedowns on commercial bank loans held by VIEs; (iii) $2.7 million of writedowns on other investments (primarily fixed maturities) due to issuer specific events; and (iv) a $7.9 million writedown of a legacy investment in a private company that was liquidated. We no longer have any exposure to legacy private companies related to investments acquired by our Predecessor. Factors considered in determining the writedowns of investments in the first nine months of 2015 included the subordination status of each investment, the impact of recent downgrades and issuer specific events, including the impact of the current low oil prices on issuers in the energy sector. During the first nine months of 2014 , we recognized $14.7 million of impairment losses recorded in earnings which included: (i) a $3.9 million writedown of a commercial mortgage loan related to a property with expected occupancy challenges; and (ii) $10.8 million of impairments related to two legacy private company investments where earnings and cash flows had not met the expectations assumed in our previous valuations. We regularly evaluate all of our investments with unrealized losses for possible impairment. Our assessment of whether unrealized losses are "other than temporary" requires significant judgment. Factors considered include: (i) the extent to which fair value is less than the cost basis; (ii) the length of time that the fair value has been less than cost; (iii) whether the unrealized loss is event driven, credit-driven or a result of changes in market interest rates or risk premium; (iv) the near-term prospects for specific events, developments or circumstances likely to affect the value of the investment; (v) the investment's rating and whether the investment is investment-grade and/or has been downgraded since its purchase; (vi) whether the issuer is current on all payments in accordance with the contractual terms of the investment and is expected to meet all of its obligations under the terms of the investment; (vii) whether we intend to sell the investment or it is more likely than not that circumstances will require us to sell the investment before recovery occurs; (viii) the underlying current and prospective asset and enterprise values of the issuer and the extent to which the recoverability of the carrying value of our investment may be affected by changes in such values; (ix) projections of, and unfavorable changes in, cash flows on structured securities including mortgage-backed and asset-backed securities; (x) our best estimate of the value of any collateral; and (xi) other objective and subjective factors. Future events may occur, or additional information may become available, which may necessitate future realized losses in our portfolio. Significant losses could have a material adverse effect on our consolidated financial statements in future periods. Impairment losses on equity securities are recognized in net income. The manner in which impairment losses on fixed maturity securities, available for sale, are recognized in the financial statements is dependent on the facts and circumstances related to the specific security. If we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, the security is other-than-temporarily impaired and the full amount of the impairment is recognized as a loss through earnings. If we do not expect to recover the amortized cost basis, we do not plan to sell the security, and if it is not more likely than not that we would be required to sell a security before the recovery of its amortized cost, less any current period credit loss, the recognition of the other-than-temporary impairment is bifurcated. We recognize the credit loss portion in net income and the noncredit loss portion in accumulated other comprehensive income. We estimate the amount of the credit loss component of a fixed maturity security impairment as the difference between amortized cost and the present value of the expected cash flows of the security. The present value is determined using the best estimate of future cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating rate security. The methodology and assumptions for establishing the best estimate of future cash flows vary depending on the type of security. For most structured securities, cash flow estimates are based on bond specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayment speeds and structural support, including excess spread, subordination and guarantees. For corporate bonds, cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using bond specific facts and circumstances. The previous amortized cost basis less the impairment recognized in net income becomes the security's new cost basis. We accrete the new cost basis to the estimated future cash flows over the expected remaining life of the security, except when the security is in default or considered nonperforming. The remaining noncredit impairment, which is recorded in accumulated other comprehensive income, is the difference between the security's estimated fair value and our best estimate of future cash flows discounted at the effective interest rate prior to impairment. The remaining noncredit impairment typically represents changes in the market interest rates, current market liquidity and risk premiums. As of September 30, 2015 , other-than-temporary impairments included in accumulated other comprehensive income of $5.9 million (before taxes and related amortization) related to certain structured securities. The following table summarizes the amount of credit losses recognized in earnings on fixed maturity securities, available for sale, held at the beginning of the period, for which a portion of the other-than-temporary impairment was also recognized in accumulated other comprehensive income for the three and nine months ended September 30, 2015 and 2014 (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Credit losses on fixed maturity securities, available for sale, beginning of period $ (1.0 ) $ (1.2 ) $ (1.0 ) $ (1.3 ) Add: credit losses on other-than-temporary impairments not previously recognized (2.0 ) — (2.0 ) — Less: credit losses on securities sold .1 .1 .1 .2 Less: credit losses on securities impaired due to intent to sell (a) — — — — Add: credit losses on previously impaired securities — — — — Less: increases in cash flows expected on previously impaired securities — — — — Credit losses on fixed maturity securities, available for sale, end of period $ (2.9 ) $ (1.1 ) $ (2.9 ) $ (1.1 ) __________ (a) Represents securities for which the amount previously recognized in accumulated other comprehensive income was recognized in earnings because we intend to sell the security or we more likely than not will be required to sell the security before recovery of its amortized cost basis. Gross Unrealized Investment Losses Our investment strategy is to maximize, over a sustained period and within acceptable parameters of quality and risk, investment income and total investment return through active investment management. Accordingly, we may sell securities at a gain or a loss to enhance the projected total return of the portfolio as market opportunities change, to reflect changing perceptions of risk, or to better match certain characteristics of our investment portfolio with the corresponding characteristics of our insurance liabilities. The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at September 30, 2015 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses States and political subdivisions $ 101.8 $ (3.4 ) $ 16.8 $ (3.1 ) $ 118.6 $ (6.5 ) Debt securities issued by foreign governments 16.5 (.2 ) — — 16.5 (.2 ) Corporate securities 2,275.1 (175.7 ) 270.1 (65.5 ) 2,545.2 (241.2 ) Asset-backed securities 352.0 (4.0 ) 63.0 (.9 ) 415.0 (4.9 ) Collateralized debt obligations 86.8 (.6 ) 91.1 (.6 ) 177.9 (1.2 ) Commercial mortgage-backed securities 287.0 (6.7 ) 8.9 — 295.9 (6.7 ) Mortgage pass-through securities — — .2 — .2 — Collateralized mortgage obligations 49.6 (.6 ) 38.0 (.4 ) 87.6 (1.0 ) Total fixed maturities, available for sale $ 3,168.8 $ (191.2 ) $ 488.1 $ (70.5 ) $ 3,656.9 $ (261.7 ) Equity securities $ 123.5 $ (4.1 ) $ 2.4 $ (.4 ) $ 125.9 $ (4.5 ) The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2014 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses United States Treasury securities and obligations of United States government corporations and agencies $ 12.1 $ (.1 ) $ 4.6 $ — $ 16.7 $ (.1 ) States and political subdivisions 13.2 (.3 ) 44.5 (2.7 ) 57.7 (3.0 ) Corporate securities 985.0 (65.9 ) 297.5 (19.2 ) 1,282.5 (85.1 ) Asset-backed securities 91.2 (1.3 ) 60.5 (2.1 ) 151.7 (3.4 ) Collateralized debt obligations 184.2 (3.4 ) — — 184.2 (3.4 ) Commercial mortgage-backed securities 46.7 (.5 ) — — 46.7 (.5 ) Mortgage pass-through securities .5 — .1 — .6 — Collateralized mortgage obligations 79.0 (.8 ) 32.0 (.5 ) 111.0 (1.3 ) Total fixed maturities, available for sale $ 1,411.9 $ (72.3 ) $ 439.2 $ (24.5 ) $ 1,851.1 $ (96.8 ) Equity securities $ 13.2 $ (.6 ) $ .5 $ — $ 13.7 $ (.6 ) Based on management's current assessment of investments with unrealized losses at September 30, 2015 , the Company believes the issuers of the securities will continue to meet their obligations (or with respect to equity-type securities, the investment value will recover to its cost basis). While we do not have the intent to sell securities with unrealized losses and it is not more likely than not that we will be required to sell securities with unrealized losses prior to their anticipated recovery, our intent on an individual security may change, based upon market or other unforeseen developments. In such instances, if a loss is recognized from a sale subsequent to a balance sheet date due to these unexpected developments, the loss is recognized in the period in which we had the intent to sell the security before its anticipated recovery. Repurchase agreements We may enter into agreements under which we sell securities subject to an obligation to repurchase the same securities. These repurchase agreements are accounted for as collateralized financing arrangements and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as investment borrowings in the Company's consolidated balance sheet, while the securities underlying the repurchase agreements remain in the respective investment asset accounts. There is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. In addition, as the Company does not currently have any outstanding reverse repurchase agreements, there is no such offsetting to be done with the repurchase agreements. The right of offset for a repurchase agreement resembles a secured borrowing, whereby the collateral would be used to settle the fair value of the repurchase agreement should the Company be in default under the agreement (e.g., fails to make an interest payment to the counterparty). If the counterparty were to default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest), and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third party financial institution in the counterparty's custodial account. The counterparty has the right to sell or repledge the investment securities. Offsetting disclosures are included in the note to the consolidated financial statements entitled "Accounting for Derivatives".

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE A reconciliation of net income and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Net income (loss) for basic and diluted earnings per share $ 33.8 $ 117.4 $ 133.4 $ (32.5 ) Shares: Weighted average shares outstanding for basic earnings per share 190,260 210,525 195,536 215,790 Effect of dilutive securities on weighted average shares (a): Stock options, restricted stock and performance units 2,105 2,447 2,035 — Warrants — 2,486 — — Weighted average shares outstanding for diluted earnings per share 192,365 215,458 197,571 215,790 ________ (a) In the nine months ended September 30, 2014 , 5,435 thousand equivalent common shares (comprised of 2,458 thousand shares related to stock options, restricted stock and performance units and 2,977 thousand shares related to warrants) were not included in the diluted weighted average shares outstanding, because their inclusion would have been antidilutive in such period due to the net loss recognized by the Company resulting from the sale of Conseco Life Insurance Company ("CLIC"). Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Restricted shares (including our performance units) are not included in basic earnings per share until vested. Diluted earnings per share reflect the potential dilution that could occur if outstanding stock options and warrants were exercised and restricted stock was vested. The dilution from options, restricted shares and warrants (until they were repurchased in September 2014) is calculated using the treasury stock method. Under this method, we assume the proceeds from the exercise of the options and warrants (or the unrecognized compensation expense with respect to restricted stock and performance units) will be used to purchase shares of our common stock at the average market price during the period, reducing the dilutive effect of the exercise of the options and warrants (or the vesting of the restricted stock and performance units).

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS The Company manages its business through the following operating segments: Bankers Life, Washington National and Colonial Penn, which are defined on the basis of product distribution; and corporate operations, comprised of holding company activities and certain noninsurance company businesses. Effective January 1, 2015, we changed our definition of pre-tax operating income to exclude the impact of fair market value changes related to the agent deferred compensation plan, since such impacts are not indicative of our ongoing business and trends in our business. Prior periods have been revised, as applicable, to conform to our current presentation. Pre-tax income is not impacted by this change. We measure segment performance by excluding the net loss on the sale of CLIC and gain on reinsurance transactions, the earnings of CLIC prior to being sold on July 1, 2014, net realized investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes in the agent deferred compensation plan, loss on extinguishment or modification of debt, income taxes and other non-operating items consisting primarily of equity in earnings of certain non-strategic investments and earnings attributable to VIEs ("pre-tax operating earnings") because we believe that this performance measure is a better indicator of the ongoing business and trends in our business. Our primary investment focus is on investment income to support our liabilities for insurance products as opposed to the generation of net realized investment gains (losses), and a long-term focus is necessary to maintain profitability over the life of the business. The net loss on the sale of CLIC, gain on reinsurance transactions, the earnings of CLIC prior to being sold, net realized investment gains (losses), fair value changes in embedded derivative liabilities (net of related amortization), fair value changes in the agent deferred compensation plan, loss on extinguishment or modification of debt and other non-operating items consisting primarily of equity in earnings of certain non-strategic investments and earnings attributable to VIEs depend on market conditions or represent unusual items that do not necessarily relate to the underlying business of our segments. Net realized investment gains (losses) and fair value changes in embedded derivative liabilities (net of related amortization) may affect future earnings levels since our underlying business is long-term in nature and changes in our investment portfolio may impact our ability to earn the assumed interest rates needed to maintain the profitability of our business. Operating information by segment was as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Revenues: Bankers Life: Insurance policy income: Annuities $ 5.2 $ 6.6 $ 17.0 $ 21.8 Health 311.6 319.4 940.5 970.4 Life 95.7 90.4 281.6 248.6 Net investment income (a) 196.3 231.2 648.0 703.2 Fee revenue and other income (a) 7.0 7.0 19.8 18.1 Total Bankers Life revenues 615.8 654.6 1,906.9 1,962.1 Washington National: Insurance policy income: Annuities .7 .9 2.3 3.3 Health 155.0 147.1 459.9 444.8 Life 6.4 6.0 19.0 18.2 Net investment income (a) 58.4 65.2 187.1 206.0 Fee revenue and other income (a) .3 .3 1.0 .7 Total Washington National revenues 220.8 219.5 669.3 673.0 Colonial Penn: Insurance policy income: Health .7 .8 2.3 2.7 Life 65.3 60.9 194.6 181.2 Net investment income (a) 10.5 10.3 32.0 31.5 Fee revenue and other income (a) .2 .2 .7 .7 Total Colonial Penn revenues 76.7 72.2 229.6 216.1 Corporate operations: Net investment income (6.1 ) (1.0 ) 3.4 11.7 Fee and other income 2.1 1.9 6.2 4.6 Total corporate revenues (4.0 ) .9 9.6 16.3 Total revenues 909.3 947.2 2,815.4 2,867.5 (continued on next page) (continued from previous page) Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Expenses: Bankers Life: Insurance policy benefits $ 386.1 $ 394.9 $ 1,202.1 $ 1,237.8 Amortization 44.1 47.1 143.4 140.7 Interest expense on investment borrowings 2.2 2.0 6.4 5.8 Other operating costs and expenses 103.6 98.8 306.6 294.4 Total Bankers Life expenses 536.0 542.8 1,658.5 1,678.7 Washington National: Insurance policy benefits 129.8 129.5 408.8 394.1 Amortization 13.5 14.8 42.5 47.1 Interest expense on investment borrowings .5 .4 1.4 1.3 Other operating costs and expenses 46.4 47.2 137.4 139.5 Total Washington National expenses 190.2 191.9 590.1 582.0 Colonial Penn: Insurance policy benefits 45.7 41.1 142.1 129.0 Amortization 3.6 3.7 10.9 11.5 Other operating costs and expenses 26.8 27.0 77.7 77.6 Total Colonial Penn expenses 76.1 71.8 230.7 218.1 Corporate operations: Interest expense on corporate debt 11.3 10.9 33.7 33.1 Interest expense on investment borrowings .1 — .2 — Other operating costs and expenses 7.8 10.0 27.6 35.1 Total corporate expenses 19.2 20.9 61.5 68.2 Total expenses 821.5 827.4 2,540.8 2,547.0 Pre-tax operating earnings by segment: Bankers Life 79.8 111.8 248.4 283.4 Washington National 30.6 27.6 79.2 91.0 Colonial Penn .6 .4 (1.1 ) (2.0 ) Corporate operations (23.2 ) (20.0 ) (51.9 ) (51.9 ) Pre-tax operating earnings $ 87.8 $ 119.8 $ 274.6 $ 320.5 ___________________ (a) It is not practicable to provide additional components of revenue by product or services. A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income (loss) is as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Total segment revenues $ 909.3 $ 947.2 $ 2,815.4 $ 2,867.5 Net realized investment gains (losses) (19.6 ) 4.0 (32.1 ) 37.0 Revenues related to certain non-strategic investments and earnings attributable to VIEs 9.8 8.3 39.0 21.9 Fee revenue related to transition and support services agreements 5.0 7.5 20.0 7.5 Revenues of CLIC prior to being sold — — — 210.8 Consolidated revenues 904.5 967.0 2,842.3 3,144.7 Total segment expenses 821.5 827.4 2,540.8 2,547.0 Insurance policy benefits - fair value changes in embedded derivative liabilities 20.5 — 3.4 25.3 Amortization related to fair value changes in embedded derivative liabilities (4.8 ) .1 (.7 ) (6.8 ) Amortization related to net realized investment gains (.6 ) .1 (.5 ) .6 Expenses related to certain non-strategic investments and expenses attributable to VIEs 10.1 10.9 32.6 30.7 Fair value changes related to agent deferred compensation plan — — — 11.8 Loss on extinguishment or modification of debt — — 32.8 .6 Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses — (32.1 ) 9.0 242.7 Expenses related to transition and support services agreements 5.4 6.2 17.5 6.2 Expenses of CLIC prior to being sold — — — 187.4 Consolidated expenses 852.1 812.6 2,634.9 3,045.5 Income before tax 52.4 154.4 207.4 99.2 Income tax expense: Tax expense on period income 18.6 53.8 74.0 133.1 Valuation allowance for deferred tax assets and other tax items — (16.8 ) — (1.4 ) Net income (loss) $ 33.8 $ 117.4 $ 133.4 $ (32.5 )

ACCOUNTING FOR DERIVATIVES

ACCOUNTING FOR DERIVATIVES	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
ACCOUNTING FOR DERIVATIVES	ACCOUNTING FOR DERIVATIVES Our freestanding and embedded derivatives, none of which are designated as hedging instruments, are held at fair value and are summarized as follows (dollars in millions): Fair value September 30, December 31, 2014 Assets: Other invested assets: Fixed index call options $ 28.7 $ 107.2 Interest rate futures (.5 ) (.2 ) Reinsurance receivables (2.3 ) 2.0 Total assets $ 25.9 $ 109.0 Liabilities: Future policy benefits: Fixed index products $ 1,079.1 $ 1,081.5 Total liabilities $ 1,079.1 $ 1,081.5 Our fixed index annuity products provide a guaranteed minimum rate of return and a higher potential return that is based on a percentage (the "participation rate") of the amount of increase in the value of a particular index, such as the Standard & Poor's 500 Index, over a specified period. Typically, on each policy anniversary date, a new index period begins. We are generally able to change the participation rate at the beginning of each index period during a policy year, subject to contractual minimums. The Company accounts for the options attributed to the policyholder for the estimated life of the contract as embedded derivatives. These accounting requirements often create volatility in the earnings from these products. We typically buy call options (including call spreads) referenced to the applicable indices in an effort to offset or hedge potential increases to policyholder benefits resulting from increases in the particular index to which the policy's return is linked. The notional amount of these options was $2.4 billion at September 30, 2015 . Such amount did not fluctuate significantly during the first nine months of 2015 and 2014. We utilize United States Treasury interest rate futures primarily to hedge interest rate risk related to anticipated mortgage loan transactions. We are required to establish an embedded derivative related to a modified coinsurance agreement pursuant to which we assume the risks of a block of health insurance business. The embedded derivative represents the mark-to-market adjustment for approximately $149 million in underlying investments held by the ceding reinsurer. We purchase certain fixed maturity securities that contain embedded derivatives that are required to be held at fair value on the consolidated balance sheet. We have elected the fair value option to carry the entire security at fair value with changes in fair value reported in net income. The following table provides the pre-tax gains (losses) recognized in net income for derivative instruments, which are not designated as hedges for the periods indicated (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Net investment income from policyholder and reinsurer accounts and other special-purpose portfolios: Fixed index call options $ (34.2 ) $ 5.6 $ (42.2 ) $ 42.3 Embedded derivative related to reinsurance contract — — — (1.4 ) Total (34.2 ) 5.6 (42.2 ) 40.9 Net realized gains (losses): Interest rate futures (1.6 ) (.1 ) (3.2 ) (4.7 ) Embedded derivative related to modified coinsurance agreement — — (4.3 ) — Total (1.6 ) (.1 ) (7.5 ) (4.7 ) Insurance policy benefits: Embedded derivative related to fixed index annuities (21.2 ) .3 (3.7 ) (26.5 ) Total $ (57 ) $ 5.8 $ (53.4 ) $ 9.7 Derivative Counterparty Risk If the counterparties to the call options fail to meet their obligations, we may recognize a loss. We limit our exposure to such a loss by diversifying among several counterparties believed to be strong and creditworthy. At September 30, 2015 , all of our counterparties were rated "A-" or higher by Standard & Poor's Corporation ("S&P"). The interest rate future contracts are effected through regulated exchanges. Such positions are marked to market and margined on a daily basis. The Company has minimal exposure to credit-related losses in the event of nonperformance. The Company and its subsidiaries are parties to master netting arrangements with its counterparties related to entering into various derivative contracts. Exchange-traded derivatives require margin accounts which we offset. The following table summarizes information related to derivatives and repurchase agreements with master netting arrangements or collateral as of September 30, 2015 and December 31, 2014 (dollars in millions): Gross amounts not offset in the balance sheet Gross amounts recognized Gross amounts offset in the balance sheet Net amounts of assets presented in the balance sheet Financial instruments Cash collateral received Net amount September 30, 2015: Fixed index call options $ 28.7 $ — $ 28.7 $ — $ — $ 28.7 Interest rate futures (.5 ) 1.0 .5 — — .5 Repurchase agreements (a) 20.4 — 20.4 20.4 — — December 31, 2014: Fixed index call options 107.2 — 107.2 — — 107.2 Interest rate futures (.2 ) 1.5 1.3 — — 1.3 Repurchase agreements (a) 20.4 — 20.4 20.4 — — _________________ (a) As of September 30, 2015 and December 31, 2014 , these agreements were collateralized by investment securities with a fair value of $25.4 million and $25.3 million , respectively.

REINSURANCE

REINSURANCE	9 Months Ended
	Sep. 30, 2015
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The cost of reinsurance ceded totaled $33.1 million and $34.1 million in the third quarters of 2015 and 2014 , respectively, and $100.3 million and $141.6 million in the first nine months of 2015 and 2014 , respectively. We deduct this cost from insurance policy income. Reinsurance recoveries netted against insurance policy benefits totaled $37.3 million and $35.1 million in the third quarters of 2015 and 2014 , respectively, and $130.5 million and $155.9 million in the first nine months of 2015 and 2014 , respectively. From time-to-time, we assume insurance from other companies. Any costs associated with the assumption of insurance are amortized consistent with the method used to amortize deferred acquisition costs. Reinsurance premiums assumed totaled $9.6 million and $10.0 million in the third quarters of 2015 and 2014 , respectively, and $29.4 million and $24.7 million in the first nine months of 2015 and 2014 , respectively. In the first quarter of 2014 , premiums assumed included $6.8 million of premium adjustments on prescription drug plan ("PDP") business related to periods prior to the termination of a quota-share reinsurance agreement with Coventry Health Care ("Coventry") in August 2013. We continue to receive distribution income from Coventry for PDP business sold through our Bankers Life segment. In the second quarter of 2014, we recaptured a block of interest-sensitive life business that was previously ceded under a modified coinsurance agreement. The recapture of this block resulted in a gain related to reinsurance transaction of $3.8 million .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's interim tax expense is based upon the estimated annual effective tax rate for the respective period. Under authoritative guidance, certain items are required to be excluded from the estimated annual effective tax rate calculation. Such items include changes in judgment about the realizability of deferred tax assets resulting from changes in projections of income expected to be available in future years, and items deemed to be unusual, infrequent, or that can not be reliably estimated. In these cases, the actual tax expense or benefit applicable to that item is treated discretely and is reported in the same period as the related item. Discrete items primarily include the loss on the sale of CLIC of $272.6 million in the nine months ended September 30, 2014 . The components of income tax expense are as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Current tax expense $ 3.5 $ 5.4 $ 9.7 $ 11.5 Deferred tax expense 17.2 48.4 66.2 121.6 Valuation allowance applicable to current year income — (3.0 ) — (3.0 ) Income tax expense calculated based on estimated annual effective tax rate 20.7 50.8 75.9 130.1 Income tax expense on discrete items: Tax expense related to the sale of CLIC — — — 19.4 Valuation allowance reduction related to the increase in projected future taxable income — (12.6 ) — (12.6 ) Other items (2.1 ) (1.2 ) (1.9 ) (5.2 ) Total income tax expense $ 18.6 $ 37.0 $ 74.0 $ 131.7 A reconciliation of the U.S. statutory corporate tax rate to the estimated annual effective rate, before discrete items, reflected in the consolidated statement of operations is as follows: Nine months ended September 30, 2015 2014 U.S. statutory corporate rate 35.0 % 35.0 % Valuation allowance — (.7 ) Non-taxable income and nondeductible benefits, net (.2 ) (.8 ) State taxes 1.8 1.5 Estimated annual effective tax rate 36.6 % 35.0 % The components of the Company's income tax assets and liabilities are summarized below (dollars in millions): September 30, December 31, Deferred tax assets: Net federal operating loss carryforwards $ 967.1 $ 1,048.4 Net state operating loss carryforwards 14.6 15.2 Tax credits 52.2 47.2 Capital loss carryforwards 14.9 — Investments 30.9 59.7 Insurance liabilities 602.2 585.9 Other 63.1 67.3 Gross deferred tax assets 1,745.0 1,823.7 Deferred tax liabilities: Present value of future profits and deferred acquisition costs (307.0 ) (320.5 ) Accumulated other comprehensive income (282.3 ) (457.4 ) Gross deferred tax liabilities (589.3 ) (777.9 ) Net deferred tax assets before valuation allowance 1,155.7 1,045.8 Valuation allowance (246.0 ) (246.0 ) Net deferred tax assets 909.7 799.8 Current income taxes accrued (47.4 ) (41.1 ) Income tax assets, net $ 862.3 $ 758.7 Our income tax expense includes deferred income taxes arising from temporary differences between the financial reporting and tax bases of assets and liabilities, capital loss carryforwards and net operating loss carryforwards ("NOLs"). Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which temporary differences are expected to be recovered or paid. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in earnings in the period when the changes are enacted. A reduction of the net carrying amount of deferred tax assets by establishing a valuation allowance is required if, based on the available evidence, it is more likely than not that such assets will not be realized. In assessing the need for a valuation allowance, all available evidence, both positive and negative, shall be considered to determine whether, based on the weight of that evidence, a valuation allowance for deferred tax assets is needed. This assessment requires significant judgment and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of carryforward periods, our experience with operating loss and tax credit carryforwards expiring unused, and tax planning strategies. We evaluate the need to establish a valuation allowance for our deferred income tax assets on an ongoing basis. The realization of our deferred tax assets depends upon generating sufficient future taxable income of the appropriate type during the periods in which our temporary differences become deductible and before our capital loss carryforwards and life and non-life NOLs expire. Based on our assessment, it appears more likely than not that $909.7 million of our net deferred tax assets of $1,155.7 million will be realized through future taxable earnings. Accordingly, we have established a deferred tax valuation allowance of $246.0 million at September 30, 2015 . We will continue to assess the need for a valuation allowance in the future. If future results are less than projected, an increase to the valuation allowance may be required to reduce the deferred tax asset, which could have a material impact on our results of operations in the period in which it is recorded. We use a deferred tax valuation model to assess the need for a valuation allowance. Our model is adjusted to reflect changes in our projections of future taxable income including changes resulting from investment trading strategies, reinsurance transactions and the impact of the sale of CLIC. Our estimates of future taxable income are based on evidence we consider to be objective and verifiable. Our projection of future taxable income for purposes of determining the valuation allowance is based on our adjusted average annual taxable income which is assumed to remain flat for two years and then increase by 3 percent for the next five years, and level taxable income is assumed thereafter. In the projections used for our analysis, our adjusted average taxable income is based on the level of recent normalized taxable income, which was approximately $335 million ( $65 million of which relates to non-life taxable income and $270 million of which relates to life taxable income). Recovery of our deferred tax asset is dependent on achieving the level of future taxable income projected in our deferred tax valuation model and failure to do so could result in an increase in the valuation allowance in a future period. Any future increase in the valuation allowance may result in additional income tax expense and reduce shareholders' equity, and such an increase could have a significant impact upon our earnings in the future. The Internal Revenue Code (the "Code") limits the extent to which losses realized by a non-life entity (or entities) may offset income from a life insurance company (or companies) to the lesser of: (i) 35 percent of the income of the life insurance company; or (ii) 35 percent of the total loss of the non-life entities (including NOLs of the non-life entities). There is no similar limitation on the extent to which losses realized by a life insurance entity (or entities) may offset income from a non-life entity (or entities). This limitation is the primary reason a valuation allowance for NOL carryforwards is required. Section 382 of the Code imposes limitations on a corporation's ability to use its NOLs when the company undergoes an ownership change. Future transactions and the timing of such transactions could cause an ownership change for Section 382 income tax purposes. Such transactions may include, but are not limited to, additional repurchases under our securities repurchase program, issuances of common stock and acquisitions or sales of shares of CNO stock by certain holders of our shares, including persons who have held, currently hold or may accumulate in the future five percent or more of our outstanding common stock for their own account. Many of these transactions are beyond our control. If an additional ownership change were to occur for purposes of Section 382, we would be required to calculate an annual restriction on the use of our NOLs to offset future taxable income. The annual restriction would be calculated based upon the value of CNO's equity at the time of such ownership change, multiplied by a federal long-term tax exempt rate ( 2.82 percent at September 30, 2015 ), and the annual restriction could limit our ability to use a substantial portion of our NOLs to offset future taxable income. We regularly monitor ownership change (as calculated for purposes of Section 382) and, as of September 30, 2015 , we were below the 50 percent ownership change level that would trigger further impairment of our ability to utilize our NOLs. As of September 30, 2015 , we had $2.8 billion of federal NOLs. The following table summarizes the expiration dates of our loss carryforwards assuming the Internal Revenue Service ("IRS") ultimately agrees with the position we have taken with respect to the loss on our investment in Conseco Senior Health Insurance Company ("CSHI") and other uncertain tax positions(dollars in millions): Year of expiration Net operating loss carryforwards Total loss Life Non-life carryforwards 2023 $ 645.8 $ 1,959.7 $ 2,605.5 2025 — 91.5 91.5 2026 — 207.4 207.4 2027 — 4.9 4.9 2028 — 203.7 203.7 2029 — 146.6 146.6 2032 — 44.0 44.0 Subtotal 645.8 2,657.8 3,303.6 Less: Unrecognized tax benefits (342.9 ) (197.4 ) (540.3 ) Total $ 302.9 $ 2,460.4 $ 2,763.3 In addition, we had $42.5 million of capital loss carryforwards that expire in 2020. We had deferred tax assets related to NOLs for state income taxes of $14.6 million and $15.2 million at September 30, 2015 and December 31, 2014 , respectively. The related state NOLs are available to offset future state taxable income in certain states through 2025. We recognized an $878 million ordinary loss on our investment in CSHI which was worthless when it was transferred to an independent trust in 2008. Of this loss, $742 million has been reported as a life loss and $136 million as a non-life loss. The IRS has disagreed with our ordinary loss treatment and believes that it should be treated as a capital loss, subject to a five year carryover. If the IRS position is ultimately determined to be correct, $473 million would have expired unused in 2013. Due to this uncertainty, we have not recognized a tax benefit of $166.0 million . However, if this unrecognized tax benefit would have been recognized, we would also have established a valuation allowance of $34.0 million at September 30, 2015 . We currently expect to utilize all of our remaining life NOLs in 2016, absent a favorable outcome on the classification of the loss on our investment in CSHI. After all of the life NOLs are utilized, we will begin making cash tax payments equal to the effective federal tax rate applied to 65 percent of our life insurance company taxable income due to the limitations on the extent to which we can use non-life NOLs to offset life insurance company taxable income. We will continue to pay tax on only 65 percent of our life insurance company taxable income until all non-life NOLs are utilized or expire. Tax years 2004 and 2008 through 2014 are open to examination by the IRS. The Company's various state income tax returns are generally open for tax years 2012 through 2014 based on the individual state statutes of limitation. Generally, for tax years which generate NOLs, capital losses or tax credit carryforwards, the statute of limitations does not close until the expiration of the statute of limitations for the tax year in which such carryforwards are utilized.

NOTES PAYABLE - DIRECT CORPORAT

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS	NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS The following notes payable were direct corporate obligations of the Company as of September 30, 2015 and December 31, 2014 (dollars in millions): September 30, December 31, 4.500% Senior Notes due May 2020 $ 325.0 $ — 5.250% Senior Notes due May 2025 500.0 — New Revolving Credit Agreement (as defined below) 100.0 — Previous Senior Secured Credit Agreement (as defined below) — 522.1 6.375% Senior Secured Notes due October 2020 (the "6.375% Notes") — 275.0 Unamortized discount on Previous Senior Secured Credit Agreement — (2.7 ) Direct corporate obligations $ 925.0 $ 794.4 New Notes On May 19, 2015, the Company executed the Indenture, dated as of May 19, 2015 (the "Base Indenture") and the First Supplemental Indenture, dated as of May 19, 2015 (the "Supplemental Indenture" and, together with the Base Indenture, the "Indenture"), between the Company and Wilmington Trust, National Association, as trustee (the "Trustee") pursuant to which the Company issued $325.0 million aggregate principal amount of 4.500% Senior Notes due 2020 (the "2020 Notes") and $500.0 million aggregate principal amount of 5.250% Senior Notes due 2025 (the "2025 Notes" and, together with the 2020 Notes, the "Notes"). The Company used the proceeds of the offering of the Notes, together with borrowings under the New Revolving Credit Agreement (as defined below): (i) to repay all amounts outstanding under the Company's Previous Senior Secured Credit Agreement (as defined below); (ii) to redeem and satisfy and discharge all of the outstanding 6.375% Notes; and (iii) to pay fees and expenses related to the offering of the Notes and the foregoing transactions. The remaining proceeds of the Notes and the borrowings under the New Revolving Credit Agreement will be used for general corporate purposes, including share repurchases. The 2020 Notes mature on May 30, 2020, and the 2025 Notes mature on May 30, 2025. Interest on the 2020 Notes is payable at 4.500% per annum. Interest on the 2025 Notes is payable at 5.250% per annum. Interest on the Notes is payable semi-annually in cash in arrears on May 30 and November 30 of each year, commencing on November 30, 2015. The Notes are the Company's senior unsecured obligations and rank equally with the Company's other senior unsecured and unsubordinated debt from time to time outstanding, including obligations under a $150.0 million four -year unsecured revolving credit agreement (the "New Revolving Credit Agreement"). The Notes are effectively subordinated to all of the Company's existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness. The Notes are structurally subordinated to all existing and future indebtedness and other liabilities of the Company's subsidiaries. The Company may redeem some or all of the 2020 Notes at any time or from time to time at a "make-whole" redemption price plus accrued and unpaid interest to, but not including, the redemption date. Prior to February 28, 2025, the Company may redeem some or all of the 2025 Notes at any time or from time to time at a "make-whole" redemption price plus accrued and unpaid interest to, but not including, the redemption date. On and after February 28, 2025, the Company may redeem some or all of the 2025 Notes at any time or from time to time at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date. Upon the occurrence of a Change of Control Repurchase Event (as defined in the Indenture), the Company will be required to make an offer to repurchase the Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of repurchase. The Indenture contains covenants that restrict the Company’s ability, with certain exceptions, to: • incur certain subsidiary indebtedness without also guaranteeing the Notes; • create liens; • enter into sale and leaseback transactions; • issue, sell, transfer or otherwise dispose of any shares of capital stock of any Insurance Subsidiary (as defined in the Indenture); and • consolidate or merge with or into other companies or transfer all or substantially all of the Company’s assets. The Indenture provides for customary events of default (subject in certain cases to customary grace and cure periods), which include nonpayment, breach of covenants in the Indenture, failure to pay at maturity or acceleration of other indebtedness, a failure to pay certain judgments and certain events of bankruptcy and insolvency. Generally, if an event of default occurs, the Trustee or holders of at least 25% in principal amount of the then outstanding Notes may declare the principal of and accrued but unpaid interest, including any additional interest, on all of the Notes to be due and payable. New Revolving Credit Agreement On May 19, 2015, the Company entered into the New Revolving Credit Agreement, with KeyBank National Association, as administrative agent (the "Agent"), and the lenders from time to time party thereto. On May 19, 2015, the Company made an initial drawing of $100.0 million under the New Revolving Credit Agreement, resulting in $50.0 million available for additional borrowings. The New Revolving Credit Agreement matures on May 19, 2019. The New Revolving Credit Agreement includes an uncommitted subfacility for swingline loans of up to $5.0 million , and up to $5.0 million of the New Revolving Credit Agreement is available for the issuance of letters of credit. The Company may incur additional incremental loans under the New Revolving Credit Agreement in an aggregate principal amount of up to $50.0 million , provided that there are no events of default and subject to certain other terms and conditions including the delivery of certain documentation. The interest rates with respect to loans under the New Revolving Credit Agreement will be based on, at the Company's option, a floating base rate (defined as a per annum rate equal to the highest of: (i) the federal funds rate plus 0.50% ; (ii) the "prime rate" of the Agent; and (iii) the eurodollar rate for a one-month interest period plus an applicable margin of initially 1.00% per annum), or a eurodollar rate plus an applicable margin of initially 2.00% per annum. At September 30, 2015 , the interest rate on the amounts outstanding under the New Revolving Credit Agreement was 2.22 percent . In addition, the daily average undrawn portion of the New Revolving Credit Agreement will accrue a commitment fee payable quarterly in arrears. The applicable margin for, and the commitment fee applicable to, the New Revolving Credit Agreement, will be adjusted from time-to-time pursuant to a ratings based pricing grid. In addition, a fronting fee, in an amount equal to 0.125% per annum on the aggregate face amount of the outstanding letters of credit will be payable to the issuers of such letters of credit. The New Revolving Credit Agreement contains certain financial, affirmative and negative covenants. The negative covenants in the New Revolving Credit Agreement include restrictions that relate to, among other things and subject to customary baskets, exceptions and limitations for facilities of this type: • subsidiary debt; • liens; • restrictive agreements; • restricted payments during the continuance of an event of default; • disposition of assets and sale and leaseback transactions; • transactions with affiliates; • change in business; • fundamental changes; • modification of certain agreements; and • changes to fiscal year. The New Revolving Credit Agreement requires the Company to maintain (each as calculated in accordance with the New Revolving Credit Agreement): (i) a debt to total capitalization ratio of not more than 30.0 percent (such ratio was 20.4 percent at September 30, 2015 ); (ii) an aggregate ratio of total adjusted capital to company action level risk-based capital for the Company's insurance subsidiaries of not less than 250 percent (such ratio was estimated to be 440 percent at September 30, 2015 ); and (iii) a minimum consolidated net worth of not less than the sum of (x) $2,674 million plus (y) 50.0% of the net equity proceeds received by the Company from the issuance and sale of equity interests in the Company (the Company's consolidated net worth was $3,660.6 million at September 30, 2015 compared to the minimum requirement of $2,676 million ). The New Revolving Credit Agreement provides for customary events of default (subject in certain cases to customary grace and cure periods), which include, without limitation, the following: • non-payment; • breach of representations, warranties or covenants; • cross-default and cross-acceleration; • bankruptcy and insolvency events; • judgment defaults; • actual or asserted invalidity of documentation with respect to the New Revolving Credit Agreement; • change of control; and • customary ERISA defaults. If an event of default under the New Revolving Credit Agreement occurs and is continuing, the Agent may accelerate the amounts and terminate all commitments outstanding under the New Revolving Credit Agreement. Previous Senior Secured Credit Agreement and 6.375% Notes The Company used a portion of the net proceeds from its offering of the Notes, together with borrowings under the New Revolving Credit Agreement, to repay all of the outstanding borrowings under its credit agreement, dated as of September 28, 2012 (as amended by the First Amendment to Credit Agreement dated May 20, 2013, and as further amended by the Second Amendment to Credit Agreement dated May 30, 2014, the "Previous Senior Secured Credit Agreement") among the Company, the lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., as agent. Upon repayment of all such outstanding borrowings on May 19, 2015, all of the commitments under the Previous Senior Secured Credit Agreement were terminated, all of the collateral securing the facilities thereunder was released, the related security, guarantee and intercreditor agreements were terminated and any remaining restrictive covenants and certain additional events of default contained in the Previous Senior Secured Credit Agreement ceased to have effect. On May 19, 2015, the Company deposited with the trustee for the 6.375% Notes sufficient funds to satisfy and discharge the indenture governing the 6.375% Notes (the " 6.375% Indenture") and to fund the make-whole redemption of the outstanding 6.375% Notes and to pay accrued and unpaid interest on the redeemed notes to, but not including, the June 10, 2015 redemption date. Upon the satisfaction and discharge of the 6.375% Indenture, all of the collateral securing the 6.375% Notes was released, the related security and intercreditor agreements were terminated and any remaining restrictive covenants and certain additional events of default contained in the 6.375% Indenture ceased to have effect. In the first nine months of 2015 , we also made $19.8 million of scheduled quarterly principal payments due under the Previous Senior Secured Credit Agreement. The following table sets forth the sources and uses of cash from the debt refinancing transactions discussed above (dollars in millions): Sources: Notes $ 825.0 New Revolving Credit Agreement 100.0 Total sources $ 925.0 Uses: Repayment of Previous Senior Secured Credit Agreement $ 502.3 Repayment of 6.375% Notes, including redemption premium 292.8 Accrued interest 4.3 Debt issuance costs 16.0 General corporate purposes 109.6 Total uses $ 925.0 In connection with the debt refinancing transactions, we recognized a loss on the extinguishment of debt totaling $32.8 million primarily related to: (i) the redemption premium related to the repayment of the 6.375% Notes; and (ii) the write-off of unamortized discount and issuance costs associated with the repayment of the Previous Senior Secured Credit Agreement and the 6.375% Notes. Scheduled Repayment of our Direct Corporate Obligations The scheduled repayment of our direct corporate obligations was as follows at September 30, 2015 (dollars in millions): Year ending September 30, 2016 $ — 2017 — 2018 — 2019 100.0 2020 325.0 Thereafter 500.0 $ 925.0

INVESTMENT BORROWINGS

INVESTMENT BORROWINGS	9 Months Ended
	Sep. 30, 2015
Investment Borrowings [Abstract]
INVESTMENT BORROWINGS	INVESTMENT BORROWINGS Three of the Company's insurance subsidiaries (Washington National Insurance Company ("Washington National"), Bankers Life and Casualty Company ("Bankers Life") and Colonial Penn Life Insurance Company ("Colonial Penn")) are members of the Federal Home Loan Bank ("FHLB"). As members of the FHLB, our insurance subsidiaries have the ability to borrow on a collateralized basis from the FHLB. We are required to hold certain minimum amounts of FHLB common stock as a condition of membership in the FHLB, and additional amounts based on the amount of the borrowings. At September 30, 2015 , the carrying value of the FHLB common stock was $73.2 million . As of September 30, 2015 , collateralized borrowings from the FHLB totaled $1.5 billion and the proceeds were used to purchase fixed maturity securities. The borrowings are classified as investment borrowings in the accompanying consolidated balance sheet. The borrowings are collateralized by investments with an estimated fair value of $1.8 billion at September 30, 2015 , which are maintained in a custodial account for the benefit of the FHLB. Substantially all of such investments are classified as fixed maturities, available for sale, in our consolidated balance sheet. The following summarizes the terms of the borrowings from the FHLB by Washington National, Bankers Life and Colonial Penn (dollars in millions): Amount Maturity Interest rate at borrowed date September 30, 2015 $ 100.0 October 2016 Variable rate – 0.464% 50.0 November 2016 Variable rate – 0.604% 57.7 June 2017 Variable rate – 0.629% 50.0 August 2017 Variable rate – 0.521% 75.0 August 2017 Variable rate – 0.479% 100.0 October 2017 Variable rate – 0.719% 50.0 November 2017 Variable rate – 0.842% 50.0 January 2018 Variable rate – 0.636% 50.0 January 2018 Variable rate – 0.634% 50.0 February 2018 Variable rate – 0.621% 50.0 February 2018 Variable rate – 0.411% 22.0 February 2018 Variable rate – 0.655% 100.0 May 2018 Variable rate – 0.644% 50.0 July 2018 Variable rate – 0.764% 50.0 August 2018 Variable rate – 0.441% 50.0 January 2019 Variable rate – 0.709% 50.0 February 2019 Variable rate – 0.411% 100.0 March 2019 Variable rate – 0.687% 21.8 July 2019 Variable rate – 0.706% 50.0 May 2020 Variable rate – 0.727% 21.8 June 2020 Fixed rate – 1.960% 25.0 September 2020 Variable rate – 0.951% 100.0 September 2020 Variable rate – 0.854% 50.0 September 2020 Variable rate – 0.854% 75.0 September 2020 Variable rate – 0.447% 28.2 August 2021 Fixed rate – 2.550% 26.3 March 2023 Fixed rate – 2.160% 20.5 June 2025 Fixed rate – 2.940% $ 1,523.3 The variable rate borrowings are pre-payable on each interest reset date without penalty. The fixed rate borrowings are pre-payable subject to payment of a yield maintenance fee based on prevailing market interest rates. At September 30, 2015 , the aggregate yield maintenance fee to prepay all fixed rate borrowings was $2.6 million . Interest expense of $7.8 million and $16.2 million in the first nine months of 2015 and 2014 , respectively, was recognized related to total borrowings from the FHLB. In addition to our borrowings from the FHLB, we may enter into repurchase agreements to increase our investment return as part of our investment strategy as further discussed in the note to the consolidated financial statements entitled "Investments". These repurchase agreements are accounted for as collateralized financing arrangements and not as a sale and subsequent repurchase of securities. Such borrowings totaled $20.4 million at September 30, 2015 and mature prior to January 15, 2016 . The primary risks associated with short-term collateralized borrowings are: (i) a substantial decline in the market value of the margined security; and (ii) that a counterparty may be unable to perform under the terms of the contract or be unwilling to extend such financing in future periods especially if the liquidity or value of the margined security has declined. Exposure is limited to any depreciation in value of the related securities.

CHANGES IN COMMON STOCK

CHANGES IN COMMON STOCK	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
CHANGES IN COMMON STOCK	CHANGES IN COMMON STOCK Changes in the number of shares of common stock outstanding were as follows (shares in thousands): Balance, December 31, 2014 203,324 Treasury stock purchased and retired (17,765 ) Stock options exercised 669 Restricted and performance stock vested 514 (a) Balance, September 30, 2015 186,742 ____________________ (a) Such amount was reduced by 236 thousand shares which were tendered to the Company for the payment of required federal and state tax withholdings owed on the vesting of restricted and performance stock. In the first nine months of 2015 , we repurchased 17.8 million shares of common stock for $311.2 million (including $5.0 million of repurchases settled in the fourth quarter of 2015 ) under our securities repurchase program. The Company had remaining repurchase authority of $109.7 million as of September 30, 2015 . In the first nine months of 2015 , dividends declared on common stock totaled $39.0 million ( $0.20 per common share). In May 2015, the Company increased its quarterly common stock dividend to $0.07 per share from $0.06 per share.

SALES INDUCEMENTS

SALES INDUCEMENTS	9 Months Ended
	Sep. 30, 2015
Deferred Sales Inducements [Abstract]
SALES INDUCEMENTS	SALES INDUCEMENTS Certain of our annuity products offer sales inducements to contract holders in the form of enhanced crediting rates or bonus payments in the initial period of the contract. Certain of our life insurance products offer persistency bonuses credited to the contract holders balance after the policy has been outstanding for a specified period of time. These enhanced rates and persistency bonuses are considered sales inducements in accordance with GAAP. Such amounts are deferred and amortized in the same manner as deferred acquisition costs. Sales inducements deferred totaled $2.8 million and $4.0 million during the nine months ended September 30, 2015 and 2014 , respectively. Amounts amortized totaled $10.1 million and $13.0 million during the nine months ended September 30, 2015 and 2014 , respectively. The unamortized balance of deferred sales inducements was $60.1 million and $67.4 million at September 30, 2015 and December 31, 2014 , respectively. The balance of insurance liabilities for persistency bonus benefits was $1.0 million and $1.5 million at September 30, 2015 and December 31, 2014 , respectively.

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	9 Months Ended
	Sep. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS Pending Accounting Standards In May 2014, the Financial Accounting Standards Board (the "FASB") issued authoritative guidance for recognizing revenue from contracts with customers. Certain contracts with customers are specifically excluded from this guidance, including insurance contracts. The core principle of the new guidance is that an entity should recognize revenue when it transfers promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the guidance was updated and will now be effective for the Company on January 1, 2018 and permits two methods of transition upon adoption; full retrospective and modified retrospective. Under the full retrospective method, prior periods would be restated under the new revenue standard, providing for comparability in all periods presented. Under the modified retrospective method, prior periods would not be restated. Instead, revenues and other disclosures for pre-2017 periods would be provided in the notes to the financial statements as previously reported under the current revenue standard. The Company is currently assessing the impact the guidance will have upon adoption. In August 2014, the FASB issued authoritative guidance related to measuring the financial assets and the financial liabilities of a consolidated collateralized financing entity which provides a measurement alternative for an entity that consolidates collateralized financing entities. A collateralized financing entity is a VIE with no more than nominal equity that holds financial assets and issues beneficial interests in those financial assets; the beneficial interests have contractual recourse only to the related assets of the collateralized financing entity and are classified as financial liabilities. If elected, the alternative method results in the reporting entity measuring both the financial assets and the financial liabilities of the collateralized financing entity using the more observable of the two fair value measurements, which effectively removes measurement differences between the financial assets and the financial liabilities of the collateralized financing entity previously recorded as net income (loss) attributable to non-controlling and other beneficial interests and as an adjustment to appropriated retained earnings. The reporting entity continues to measure its own beneficial interests in the collateralized financing entity (other than those that represent compensation for services) at fair value. The guidance will be effective for the Company for interim and annual periods beginning in 2016. A reporting entity may apply the guidance using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period of adoption. A reporting entity may also apply the guidance retrospectively to all relevant prior periods. The Company is currently assessing the impact the guidance will have upon adoption. In February 2015, the FASB issued authoritative guidance which updates the analysis that a reporting entity must perform to determine whether it should consolidate certain legal entities. Such guidance: (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities; (ii) eliminates the presumption that a general partner should consolidate a limited partnership; (iii) affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (iv) provides a scope exception from consolidation guidance for certain investment funds. The guidance will be effective for the Company for interim and annual periods beginning in 2016. A reporting entity may apply the guidance using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period of adoption. A reporting entity may also apply the guidance retrospectively to all relevant prior periods. The Company is currently assessing the impact the guidance will have upon adoption. In April 2015, the FASB issued authoritative guidance which requires debt issuance costs in financial statements to be presented as a direct deduction from the carrying value of the associated debt liability rather than as an asset on the balance sheet. This guidance is effective beginning January 1, 2016. Early adoption is permitted, and the new guidance will be applied on a retrospective basis. The adoption of this guidance will not have a material impact on our consolidated financial statements. In May 2015, the FASB issued authoritative guidance which requires additional disclosures related to short-duration contracts. The guidance will require insurance entities to disclose for annual reporting periods information about the liability for unpaid claims and claim adjustment expenses. The guidance also requires insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for unpaid claims and claim adjustment expenses, including reasons for the change and the effects on the financial statements. Additionally, the guidance requires insurance entities to disclose for annual and interim reporting periods a rollforward of the liability for unpaid claims and claim adjustment expenses. For health insurance claims, the guidance requires the disclosure of the total of incurred-but-not-reported liabilities plus expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses. The guidance will be effective for the Company for annual periods beginning after December 15, 2015, and the interim periods within annual periods beginning after December 15, 2016. The Company is currently assessing the impact the guidance will have on its disclosures upon adoption. In May 2015, the FASB issued authoritative guidance that removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The guidance also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The guidance will be effective for the Company for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. A reporting entity should apply the guidance retrospectively to all periods presented. Early adoption is permitted. The Company is currently assessing the impact the guidance will have on its disclosures upon adoption. Adopted Accounting Standards In April 2014, the FASB issued authoritative guidance changing the criteria for reporting discontinued operations. Under the revised guidance, only disposals of a component or a group of components, including those classified as held for sale, which represent a strategic shift that has or will have a major effect on a company's operations and financial results will be reported as discontinued operations. The guidance is effective prospectively for new disposals occurring after January 1, 2015. In June 2014, the FASB issued authoritative guidance on the accounting and disclosure of repurchase-to-maturity transactions and repurchase financings. Under this new accounting guidance, repurchase-to-maturity transactions will be accounted for as secured borrowings rather than sales of an asset, and transfers of financial assets with a contemporaneous repurchase financing arrangement will no longer be evaluated to determine whether they should be accounted for on a combined basis as forward contracts. The new guidance also prescribes additional disclosures particularly on the nature of collateral pledged in the repurchase agreement accounted for as a secured borrowing. The new guidance is effective beginning on January 1, 2015. The adoption of this guidance did not have a material impact on our consolidated financial statements.

LITIGATION AND OTHER LEGAL PROC

LITIGATION AND OTHER LEGAL PROCEEDINGS	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
LITIGATION AND OTHER LEGAL PROCEEDINGS	LITIGATION AND OTHER LEGAL PROCEEDINGS Legal Proceedings The Company and its subsidiaries are involved in various legal actions in the normal course of business, in which claims for compensatory and punitive damages are asserted, some for substantial amounts. We recognize an estimated loss from these loss contingencies when we believe it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Some of the pending matters have been filed as purported class actions and some actions have been filed in certain jurisdictions that permit punitive damage awards that are disproportionate to the actual damages incurred. The amounts sought in certain of these actions are often large or indeterminate and the ultimate outcome of certain actions is difficult to predict. In the event of an adverse outcome in one or more of these matters, there is a possibility that the ultimate liability may be in excess of the liabilities we have established and could have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, the resolution of pending or future litigation may involve modifications to the terms of outstanding insurance policies or could impact the timing and amount of rate increases, which could adversely affect the future profitability of the related insurance policies. Based upon information presently available, and in light of legal, factual and other defenses available to the Company and its subsidiaries, the Company does not believe that it is probable that the ultimate liability from either pending or threatened legal actions, after consideration of existing loss provisions, will have a material adverse effect on the Company's consolidated financial condition, operating results or cash flows. However, given the inherent difficulty in predicting the outcome of legal proceedings, there exists the possibility that such legal actions could have a material adverse effect on the Company's consolidated financial condition, operating results or cash flows. In addition to the inherent difficulty of predicting litigation outcomes, particularly those that will be decided by a jury, some matters purport to seek substantial or an unspecified amount of damages for unsubstantiated conduct spanning several years based on complex legal theories and damages models. The alleged damages typically are indeterminate or not factually supported in the complaint, and, in any event, the Company's experience indicates that monetary demands for damages often bear little relation to the ultimate loss. In some cases, plaintiffs are seeking to certify classes in the litigation and class certification either has been denied or is pending and we have filed oppositions to class certification or sought to decertify a prior class certification. In addition, for many of these cases: (i) there is uncertainty as to the outcome of pending appeals or motions; (ii) there are significant factual issues to be resolved; and/or (iii) there are novel legal issues presented. Accordingly, the Company cannot reasonably estimate the possible loss or range of loss in excess of amounts accrued, if any, or predict the timing of the eventual resolution of these matters. The Company reviews these matters on an ongoing basis. When assessing reasonably possible and probable outcomes, the Company bases its assessment on the expected ultimate outcome following all appeals. Regulatory Examinations and Fines Insurance companies face significant risks related to regulatory investigations and actions. Regulatory investigations generally result from matters related to sales or underwriting practices, payment of contingent or other sales commissions, claim payments and procedures, product design, product disclosure, additional premium charges for premiums paid on a periodic basis, denial or delay of benefits, charging excessive or impermissible fees on products, procedures related to canceling policies, changing the way cost of insurance charges are calculated for certain life insurance products or recommending unsuitable products to customers. We are, in the ordinary course of our business, subject to various examinations, inquiries and information requests from state, federal and other authorities. The ultimate outcome of these regulatory actions (including the costs of complying with information requests and policy reviews) cannot be predicted with certainty. In the event of an unfavorable outcome in one or more of these matters, the ultimate liability may be in excess of liabilities we have established and we could suffer significant reputational harm as a result of these matters, which could also have a material adverse effect on our business, financial condition, results of operations or cash flows. In August 2011, we were notified of an examination to be done on behalf of a number of states for the purpose of determining compliance with unclaimed property laws by the Company and its subsidiaries. Such examination has included inquiries related to the use of data available on the U.S. Social Security Administration's Death Master File to identify instances where benefits under life insurance policies, annuities and retained asset accounts are payable. We are continuing to provide information to the examiners in response to their requests. A total of 38 states and the District of Columbia are currently participating in this examination.

CONSOLIDATED STATEMENT OF CAS22

CONSOLIDATED STATEMENT OF CASH FLOWS	9 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
CONSOLIDATED STATEMENT OF CASH FLOWS	CONSOLIDATED STATEMENT OF CASH FLOWS The following disclosures supplement our consolidated statement of cash flows. The following reconciles net income (loss) to net cash from operating activities (dollars in millions): Nine months ended September 30, 2015 2014 Cash flows from operating activities: Net income (loss) $ 133.4 $ (32.5 ) Adjustments to reconcile net income to net cash from operating activities: Amortization and depreciation 213.3 218.2 Income taxes 70.7 128.9 Insurance liabilities 237.9 228.9 Accrual and amortization of investment income (15.8 ) (112.3 ) Deferral of policy acquisition costs (181.9 ) (176.6 ) Net realized investment (gains) losses 20.8 (39.8 ) Payment to reinsurer pursuant to long-term care business reinsured — (590.3 ) Net loss on sale of subsidiary, gain on reinsurance transactions and transition expenses 9.0 242.7 Loss on extinguishment or modification of debt 32.8 .6 Other 15.1 8.3 Net cash from operating activities $ 535.3 $ (123.9 ) (a) ______________________ (a) Cash flows from operating activities reflect outflows in the 2014 period due to the payment to reinsurer to transfer certain long-term care business. On July 1, 2014, Bankers Life recaptured the life business written by Bankers Life that was reinsured by Wilton Re in 2009. The following summarizes the impact of the recapture (dollars in millions): Investments $ 139.4 (a) (b) Cash 7.7 Present value of future profits and deferred acquisition costs 29.0 (b) Reinsurance receivables (155.9 ) (b) Other liabilities 5.9 (b) Gain on reinsurance transaction (classified as "Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses") 26.1 Income tax expense 9.2 Gain on reinsurance transaction (net of income taxes) $ 16.9 ___________________ (a) Such amount has been reduced by a $28.0 million recapture fee. (b) Such non-cash amounts have been excluded from the consolidated statement of cash flows. Other non-cash items not reflected in the investing and financing activities sections of the consolidated statement of cash flows (dollars in millions): Nine months ended September 30, 2015 2014 Stock options, restricted stock and performance units $ 12.9 $ 11.6

OUT-OF-PERIOD ADJUSTMENTS

OUT-OF-PERIOD ADJUSTMENTS	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
OUT-OF-PERIOD ADJUSTMENTS	OUT-OF-PERIOD ADJUSTMENTS In the nine months ended September 30, 2014 , we recorded the net effect of an out-of-period adjustment related to the calculation of incentive compensation accruals which increased other operating costs and expenses by $2.4 million , decreased tax expense by $.8 million and increased our net loss by $1.6 million (or 1 cent per diluted share). We evaluated these adjustments taking into account both qualitative and quantitative factors and considered the impact of these adjustments in relation to each period, as well as the periods in which they originated. The impact of recognizing these adjustments in prior years was not significant to any individual period. Management believes these adjustments are immaterial to the consolidated financial statements and all previously issued financial statements.

INVESTMENTS IN VARIABLE INTERES

INVESTMENTS IN VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2015
Investments in Variable Interest Entities [Abstract]
INVESTMENTS IN VARIABLE INTEREST ENTITIES	INVESTMENTS IN VARIABLE INTEREST ENTITIES We have concluded that we are the primary beneficiary with respect to certain VIEs, which are consolidated in our financial statements. In consolidating the VIEs, we consistently use the financial information most recently distributed to investors in the VIE, which in one case, is less than two months prior to the end of our reporting period. All of the VIEs are collateralized loan trusts that were established to issue securities to finance the purchase of corporate loans and other permitted investments. The assets held by the trusts are legally isolated and not available to the Company. The liabilities of the VIEs are expected to be satisfied from the cash flows generated by the underlying loans held by the trusts, not from the assets of the Company. The Company has no financial obligation to the VIEs beyond its investment in each VIE. Certain of our insurance subsidiaries are noteholders of the VIEs. Another subsidiary of the Company is the investment manager for the VIEs. As such, it has the power to direct the most significant activities of the VIEs which materially impacts the economic performance of the VIEs. The following table provides supplemental information about the assets and liabilities of the VIEs which have been consolidated in accordance with authoritative guidance (dollars in millions): September 30, 2015 VIEs Eliminations Net effect on consolidated balance sheet Assets: Investments held by variable interest entities $ 1,488.1 $ — $ 1,488.1 Notes receivable of VIEs held by insurance subsidiaries — (168.7 ) (168.7 ) Cash and cash equivalents held by variable interest entities 106.9 — 106.9 Accrued investment income 3.2 — 3.2 Income tax assets, net 14.8 (1.4 ) 13.4 Other assets 17.8 (3.5 ) 14.3 Total assets $ 1,630.8 $ (173.6 ) $ 1,457.2 Liabilities: Other liabilities $ 46.3 $ (6.6 ) $ 39.7 Borrowings related to variable interest entities 1,442.3 — 1,442.3 Notes payable of VIEs held by insurance subsidiaries 169.8 (169.8 ) — Total liabilities $ 1,658.4 $ (176.4 ) $ 1,482.0 December 31, 2014 VIEs Eliminations Net effect on consolidated balance sheet Assets: Investments held by variable interest entities $ 1,367.1 $ — $ 1,367.1 Notes receivable of VIEs held by insurance subsidiaries — (153.3 ) (153.3 ) Cash and cash equivalents held by variable interest entities 68.3 — 68.3 Accrued investment income 3.2 — 3.2 Income tax assets, net 18.1 (2.9 ) 15.2 Other assets 14.2 (1.7 ) 12.5 Total assets $ 1,470.9 $ (157.9 ) $ 1,313.0 Liabilities: Other liabilities $ 61.2 $ (6.1 ) $ 55.1 Borrowings related to variable interest entities 1,286.1 — 1,286.1 Notes payable of VIEs held by insurance subsidiaries 157.3 (157.3 ) — Total liabilities $ 1,504.6 $ (163.4 ) $ 1,341.2 The investment portfolios held by the VIEs are primarily comprised of commercial bank loans to corporate obligors which are almost entirely rated below-investment grade. At September 30, 2015 , such loans had an amortized cost of $1,518.4 million ; gross unrealized gains of $1.3 million ; gross unrealized losses of $31.6 million ; and an estimated fair value of $1,488.1 million . The following table sets forth the amortized cost and estimated fair value of the investments held by the VIEs at September 30, 2015 , by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Amortized cost Estimated fair value (Dollars in millions) Due in one year or less $ 12.6 $ 12.6 Due after one year through five years 630.8 616.4 Due after five years through ten years 875.0 859.1 Total $ 1,518.4 $ 1,488.1 During the first nine months of 2015 , the VIEs recognized net realized investment losses of $4.3 million , which were comprised of $.7 million of net losses from the sales of fixed maturities, and $3.6 million of writedowns of investments for other than temporary declines in fair value recognized through net income. During the first nine months of 2014 , the VIEs recognized net realized investment losses of $2.2 million . At September 30, 2015 , there were no investments held by the VIEs that were in default. During the first nine months of 2015 , $47.3 million of investments held by the VIEs were sold which resulted in gross investment losses (before income taxes) of $1.1 million . During the first nine months of 2014 , $38.7 million of investments held by the VIEs were sold which resulted in gross investment losses (before income taxes) of $2.4 million . There were eight investments sold at a loss during the first nine months of 2015 , which had been continuously in an unrealized loss position exceeding 20 percent of the amortized cost basis for less than six months prior to the sale, which had an amortized cost and estimated fair value of $13.0 million and $12.3 million , respectively. At September 30, 2015 , the VIEs held: (i) investments with a fair value of $816.9 million and gross unrealized losses of $9.4 million that had been in an unrealized loss position for less than twelve months; and (ii) investments with a fair value of $339.5 million and gross unrealized losses of $22.2 million that had been in an unrealized loss position for greater than twelve months. At December 31, 2014 , the VIEs held: (i) investments with a fair value of $1,053.2 million and gross unrealized losses of $27.3 million that had been in an unrealized loss position for less than twelve months; and (ii) investments with a fair value of $167.4 million and gross unrealized losses of $4.2 million that had been in an unrealized loss position for greater than twelve months. The investments held by the VIEs are evaluated for other-than-temporary declines in fair value in a manner that is consistent with the Company's fixed maturities, available for sale. In addition, the Company, in the normal course of business, makes passive investments in structured securities issued by VIEs for which the Company is not the investment manager. These structured securities include asset-backed securities, collateralized debt obligations, commercial mortgage-backed securities, residential mortgage-backed securities and collateralized mortgage obligations. Our maximum exposure to loss on these securities is limited to our cost basis in the investment. We have determined that we are not the primary beneficiary of these structured securities due to the relative size of our investment in comparison to the total principal amount of the individual structured securities and the level of credit subordination which reduces our obligation to absorb gains or losses. At September 30, 2015 , we held investments in various limited partnerships, in which we are not the primary beneficiary, totaling $67.0 million (classified as other invested assets). At September 30, 2015 , we had unfunded commitments to these partnerships of $64.4 million . Our maximum exposure to loss on these investments is limited to the amount of our investment.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and, therefore, represents an exit price, not an entry price. We carry certain assets and liabilities at fair value on a recurring basis, including fixed maturities, equity securities, trading securities, investments held by VIEs, derivatives, cash and cash equivalents, separate account assets and embedded derivatives. We carry our company-owned life insurance policy, which is invested in a series of mutual funds, at its cash surrender value and our hedge fund investments at their net asset values; in both cases, we believe these values approximate their fair values. In addition, we disclose fair value for certain financial instruments, including mortgage loans and policy loans, insurance liabilities for interest-sensitive products, investment borrowings, notes payable and borrowings related to VIEs. The degree of judgment utilized in measuring the fair value of financial instruments is largely dependent on the level to which pricing is based on observable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our view of market assumptions in the absence of observable market information. Financial instruments with readily available active quoted prices would be considered to have fair values based on the highest level of observable inputs, and little judgment would be utilized in measuring fair value. Financial instruments that rarely trade would often have fair value based on a lower level of observable inputs, and more judgment would be utilized in measuring fair value. Valuation Hierarchy There is a three-level hierarchy for valuing assets or liabilities at fair value based on whether inputs are observable or unobservable. • Level 1 – includes assets and liabilities valued using inputs that are unadjusted quoted prices in active markets for identical assets or liabilities. Our Level 1 assets primarily include cash and exchange traded securities. • Level 2 – includes assets and liabilities valued using inputs that are quoted prices for similar assets in an active market, quoted prices for identical or similar assets in a market that is not active, observable inputs, or observable inputs that can be corroborated by market data. Level 2 assets and liabilities include those financial instruments that are valued by independent pricing services using models or other valuation methodologies. These models consider various inputs such as credit rating, maturity, corporate credit spreads, reported trades and other inputs that are observable or derived from observable information in the marketplace or are supported by transactions executed in the marketplace. Financial assets in this category primarily include: certain publicly registered and privately placed corporate fixed maturity securities; certain government or agency securities; certain mortgage and asset-backed securities; certain equity securities; most investments held by our consolidated VIEs; certain mutual fund and hedge fund investments; most short-term investments; and non-exchange-traded derivatives such as call options. Financial liabilities in this category include investment borrowings, notes payable and borrowings related to VIEs. • Level 3 – includes assets and liabilities valued using unobservable inputs that are used in model-based valuations that contain management assumptions. Level 3 assets and liabilities include those financial instruments whose fair value is estimated based on broker/dealer quotes, pricing services or internally developed models or methodologies utilizing significant inputs not based on, or corroborated by, readily available market information. Financial assets in this category include certain corporate securities (primarily certain below-investment grade privately placed securities), certain structured securities, mortgage loans, and other less liquid securities. Financial liabilities in this category include our insurance liabilities for interest-sensitive products, which includes embedded derivatives (including embedded derivatives related to our fixed index annuity products and to a modified coinsurance arrangement) since their values include significant unobservable inputs including actuarial assumptions. At each reporting date, we classify assets and liabilities into the three input levels based on the lowest level of input that is significant to the measurement of fair value for each asset and liability reported at fair value. This classification is impacted by a number of factors, including the type of financial instrument, whether the financial instrument is new to the market and not yet established, the characteristics specific to the transaction and overall market conditions. Our assessment of the significance of a particular input to the fair value measurement and the ultimate classification of each asset and liability requires judgment and is subject to change from period to period based on the observability of the valuation inputs. Any transfers between levels are reported as having occurred at the beginning of the period. There were no transfers between Level 1 and Level 2 in both the first nine months of 2015 and 2014 . The vast majority of our fixed maturity and equity securities, including those held in trading portfolios and those held by consolidated VIEs, short-term and separate account assets use Level 2 inputs for the determination of fair value. These fair values are obtained primarily from independent pricing services, which use Level 2 inputs for the determination of fair value. Our Level 2 assets are valued as follows: • Fixed maturities available for sale, equity securities and trading securities Corporate securities are generally priced using market and income approaches. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity, and credit spreads. U.S. Treasuries and obligations of U.S. Government corporations and agencies are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets and maturity. States and political subdivisions are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, new issuances and credit spreads. Asset-backed securities, collateralized debt obligations, commercial mortgage-backed securities, mortgage pass-through securities and collateralized mortgage obligations are generally priced using market and income approaches. Inputs generally consist of quoted prices in inactive markets, spreads on actively traded securities, expected prepayments, expected credit default rates, delinquencies, and issue specific information including, but not limited to, collateral type, seniority and vintage. Equity securities (primarily comprised of non-redeemable preferred stock) are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity, and credit spreads. • Investments held by VIEs Corporate securities are generally priced using market and income approaches using pricing vendors. Inputs generally consist of issuer rating, benchmark yields, maturity, and credit spreads. • Other invested assets - derivatives The fair value measurements for derivative instruments, including embedded derivatives requiring bifurcation, are determined based on the consideration of several inputs including closing exchange or over-the-counter market price quotes; time value and volatility factors underlying options; market interest rates; and non-performance risk. Third party pricing services normally derive security prices through recently reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recently reported trades, the third party pricing services may use matrix or model processes to develop a security price where future cash flow expectations are discounted at an estimated risk-adjusted market rate. The number of prices obtained for a given security is dependent on the Company's analysis of such prices as further described below. As the Company is responsible for the determination of fair value, we have control processes designed to ensure that the fair values received from third-party pricing sources are reasonable and the valuation techniques and assumptions used appear reasonable and consistent with prevailing market conditions. Additionally, when inputs are provided by third-party pricing sources, we have controls in place to review those inputs for reasonableness. As part of these controls, we perform monthly quantitative and qualitative analysis on the prices received from third parties to determine whether the prices are reasonable estimates of fair value. The Company's analysis includes: (i) a review of the methodology used by third party pricing services; (ii) where available, a comparison of multiple pricing services' valuations for the same security; (iii) a review of month to month price fluctuations; (iv) a review to ensure valuations are not unreasonably dated; and (v) back testing to compare actual purchase and sale transactions with valuations received from third parties. As a result of such procedures, the Company may conclude the prices received from third parties are not reflective of current market conditions. In those instances, we may request additional pricing quotes or apply internally developed valuations. However, the number of such instances is insignificant and the aggregate change in value of such investments is not materially different from the original prices received. The categorization of the fair value measurements of our investments priced by independent pricing services was based upon the Company's judgment of the inputs or methodologies used by the independent pricing services to value different asset classes. Such inputs include: benchmark yields, reported trades, broker dealer quotes, issuer spreads, benchmark securities, bids, offers and reference data. The Company categorizes such fair value measurements based upon asset classes and the underlying observable or unobservable inputs used to value such investments. For securities that are not priced by pricing services and may not be reliably priced using pricing models, we obtain broker quotes. These broker quotes are non-binding and represent an exit price, but assumptions used to establish the fair value may not be observable and therefore represent Level 3 inputs. Approximately 49 percent of our Level 3 fixed maturity securities were valued using unadjusted broker quotes or broker-provided valuation inputs. The remaining Level 3 fixed maturity investments do not have readily determinable market prices and/or observable inputs. For these securities, we use internally developed valuations. Key assumptions used to determine fair value for these securities may include risk premiums, projected performance of underlying collateral and other factors involving significant assumptions which may not be reflective of an active market. For certain investments, we use a matrix or model process to develop a security price where future cash flow expectations are discounted at an estimated market rate. The pricing matrix incorporates term interest rates as well as a spread level based on the issuer's credit rating, other factors relating to the issuer, and the security's maturity. In some instances issuer-specific spread adjustments, which can be positive or negative, are made based upon internal analysis of security specifics such as liquidity, deal size, and time to maturity. For certain embedded derivatives, we use actuarial assumptions in the determination of fair value which we consider to be Level 3 inputs. The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at September 30, 2015 is as follows (dollars in millions): Quoted prices in active markets Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 13,051.5 $ 146.3 $ 13,197.8 United States Treasury securities and obligations of United States government corporations and agencies — 162.9 — 162.9 States and political subdivisions — 2,259.4 — 2,259.4 Debt securities issued by foreign governments — 16.5 — 16.5 Asset-backed securities — 1,459.6 40.0 1,499.6 Collateralized debt obligations — 361.4 — 361.4 Commercial mortgage-backed securities — 1,503.0 15.6 1,518.6 Mortgage pass-through securities — 3.4 .1 3.5 Collateralized mortgage obligations — 1,124.8 — 1,124.8 Total fixed maturities, available for sale — 19,942.5 202.0 20,144.5 Equity securities - corporate securities 234.0 172.4 30.9 437.3 Trading securities: Corporate securities — 21.8 — 21.8 United States Treasury securities and obligations of United States government corporations and agencies — 2.7 — 2.7 Asset-backed securities — 21.7 — 21.7 Collateralized debt obligations — 2.4 — 2.4 Commercial mortgage-backed securities — 149.9 30.1 180.0 Collateralized mortgage obligations — 25.7 — 25.7 Equity securities 3.2 — — 3.2 Total trading securities 3.2 224.2 30.1 257.5 Investments held by variable interest entities - corporate securities — 1,488.1 — 1,488.1 Other invested assets - derivatives .6 28.7 — 29.3 Assets held in separate accounts — 5.0 — 5.0 Total assets carried at fair value by category $ 237.8 $ 21,860.9 $ 263.0 $ 22,361.7 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products $ — $ — $ 1,079.1 $ 1,079.1 The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2014 is as follows (dollars in millions): Quoted prices in active markets for identical assets or liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 13,605.1 $ 365.9 $ 13,971.0 United States Treasury securities and obligations of United States government corporations and agencies — 168.9 — 168.9 States and political subdivisions — 2,242.2 35.5 2,277.7 Debt securities issued by foreign governments — 1.9 — 1.9 Asset-backed securities — 1,209.8 59.2 1,269.0 Collateralized debt obligations — 324.5 — 324.5 Commercial mortgage-backed securities — 1,275.1 1.2 1,276.3 Mortgage pass-through securities — 4.2 .4 4.6 Collateralized mortgage obligations — 1,341.0 — 1,341.0 Total fixed maturities, available for sale — 20,172.7 462.2 20,634.9 Equity securities - corporate securities 216.9 174.1 28.0 419.0 Trading securities: Corporate securities — 24.3 — 24.3 United States Treasury securities and obligations of United States government corporations and agencies — 3.7 — 3.7 Asset-backed securities — 24.0 — 24.0 Commercial mortgage-backed securities — 131.0 28.6 159.6 Mortgage pass-through securities — .1 — .1 Collateralized mortgage obligations — 29.7 — 29.7 Equity securities 3.5 — — 3.5 Total trading securities 3.5 212.8 28.6 244.9 Investments held by variable interest entities - corporate securities — 1,367.1 — 1,367.1 Other invested assets - derivatives 1.4 107.2 — 108.6 Assets held in separate accounts — 5.6 — 5.6 Total assets carried at fair value by category $ 221.8 $ 22,039.5 $ 518.8 $ 22,780.1 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products $ — $ — $ 1,081.5 $ 1,081.5 For those financial instruments disclosed at fair value, we use the following methods and assumptions to determine the estimated fair values: Mortgage loans and policy loans. We discount future expected cash flows based on interest rates currently being offered for similar loans with similar risk characteristics. We aggregate loans with similar characteristics in our calculations. The fair value of policy loans approximates their carrying value. Company-owned life insurance is backed by a series of mutual funds and is carried at cash surrender value which approximates estimated fair value. Alternative investment funds are carried at their net asset values which approximates estimated fair value. Cash and cash equivalents include commercial paper, invested cash and other investments purchased with original maturities of less than three months. We carry them at amortized cost, which approximates estimated fair value. Liabilities for policyholder account balances. The estimated fair value of insurance liabilities for policyholder account balances was approximately equal to its carrying value as interest rates credited on the vast majority of account balances approximate current rates paid on similar products and because these rates are not generally guaranteed beyond one year. Investment borrowings, notes payable and borrowings related to variable interest entities. For publicly traded debt, we use current fair values. For other notes, we use discounted cash flow analyses based on our current incremental borrowing rates for similar types of borrowing arrangements. The fair value measurements for our financial instruments disclosed at fair value on a recurring basis are as follows (dollars in millions): September 30, 2015 Quoted prices in active markets for identical assets or liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total estimated fair value Total carrying amount Assets: Mortgage loans $ — $ — $ 1,801.2 $ 1,801.2 $ 1,712.6 Policy loans — — 109.5 109.5 109.5 Other invested assets: Company-owned life insurance — 153.9 — 153.9 153.9 Alternative investment funds — 101.0 — 101.0 101.0 Cash and cash equivalents: Unrestricted 453.8 160.0 — 613.8 613.8 Held by variable interest entities 106.9 — — 106.9 106.9 Liabilities: Policyholder account balances — — 10,728.0 10,728.0 10,728.0 Investment borrowings — 1,546.3 — 1,546.3 1,543.7 Borrowings related to variable interest entities — 1,433.6 — 1,433.6 1,442.3 Notes payable – direct corporate obligations — 941.9 — 941.9 925.0 December 31, 2014 Quoted prices in active markets for identical assets or liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total estimated fair value Total carrying amount Assets: Mortgage loans $ — $ — $ 1,768.9 $ 1,768.9 $ 1,691.9 Policy loans — — 106.9 106.9 106.9 Other invested assets: Company-owned life insurance — 157.6 — 157.6 157.6 Alternative investment funds — 102.8 — 102.8 102.8 Cash and cash equivalents: Unrestricted 549.6 62.0 — 611.6 611.6 Held by variable interest entities 68.3 — — 68.3 68.3 Liabilities: Policyholder account balances — — 10,707.2 10,707.2 10,707.2 Investment borrowings — 1,520.4 — 1,520.4 1,519.2 Borrowings related to variable interest entities — 1,229.2 — 1,229.2 1,286.1 Notes payable – direct corporate obligations — 807.4 — 807.4 794.4 The following table presents additional information about assets and liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the three months ended September 30, 2015 (dollars in millions): September 30, 2015 Beginning balance as of June 30, 2015 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2015 Amount of total gains (losses) for the three months ended September 30, 2015 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 133.7 $ 4.6 $ — $ (3.8 ) $ 11.8 $ — $ 146.3 $ — Asset-backed securities 53.3 10.4 — .2 — (23.9 ) 40.0 — Commercial mortgage-backed securities 1.2 14.6 — (.2 ) — — 15.6 — Mortgage pass-through securities .2 (.1 ) — — — — .1 — Total fixed maturities, available for sale 188.4 29.5 — (3.8 ) 11.8 (23.9 ) 202.0 — Equity securities - corporate securities 29.9 1.0 — — — — 30.9 — Trading securities - commercial mortgage-backed securities 39.9 — — (.6 ) — (9.2 ) 30.1 (.6 ) Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,074.0 ) 16.1 (21.2 ) — — — (1,079.1 ) (21.2 ) _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the three months ended September 30, 2015 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 6.0 $ (1.4 ) $ — $ — $ 4.6 Asset-backed securities 11.0 (.6 ) — — 10.4 Commercial mortgage-backed securities 14.6 — — — 14.6 Mortgage pass-through securities — (.1 ) — — (.1 ) Total fixed maturities, available for sale 31.6 (2.1 ) — — 29.5 Equity securities - corporate securities 1.0 — — — 1.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (38.0 ) 39.0 — 15.1 16.1 The following table presents additional information about assets and liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the nine months ended September 30, 2015 (dollars in millions): September 30, 2015 Beginning balance as of December 31, 2014 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2015 Amount of total gains (losses) for the nine months ended September 30, 2015 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 365.9 $ (21.7 ) $ (2.2 ) $ (10.0 ) $ 21.0 $ (206.7 ) $ 146.3 $ — States and political subdivisions 35.5 — — — — (35.5 ) — — Asset-backed securities 59.2 10.0 — (.6 ) — (28.6 ) 40.0 — Commercial mortgage-backed securities 1.2 14.5 — (.1 ) — — 15.6 — Mortgage pass-through securities .4 (.3 ) — — — — .1 — Total fixed maturities, available for sale 462.2 2.5 (2.2 ) (10.7 ) 21.0 (270.8 ) 202.0 — Equity securities - corporate securities 28.0 2.9 — — — — 30.9 — Trading securities - commercial mortgage-backed securities 28.6 — — 1.5 — — 30.1 1.5 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,081.5 ) 6.1 (3.7 ) — — — (1,079.1 ) (3.7 ) _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the nine months ended September 30, 2015 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 6.1 $ (27.8 ) $ — $ — $ (21.7 ) Asset-backed securities 11.0 (1.0 ) — — 10.0 Commercial mortgage-backed securities 14.5 — — — 14.5 Mortgage pass-through securities — (.3 ) — — (.3 ) Total fixed maturities, available for sale 31.6 (29.1 ) — — 2.5 Equity securities - corporate securities 2.9 — — — 2.9 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (101.4 ) 61.4 (2.3 ) 48.4 6.1 The following table presents additional information about assets and liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the three months ended September 30, 2014 (dollars in millions): September 30, 2014 Beginning balance as of June 30, 2014 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2014 Amount of total gains (losses) for the three months ended September 30, 2014 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 389.8 $ 6.6 $ — $ (.9 ) $ 37.5 $ (98.2 ) $ 334.8 $ — States and political subdivisions 28.7 — — — — (28.7 ) — — Asset-backed securities 52.7 (.1 ) — .2 9.5 — 62.3 — Collateralized debt obligations 14.2 — — — — (14.2 ) — — Commercial mortgage-backed securities — 1.1 — — — — 1.1 — Mortgage pass-through securities 1.3 (.2 ) — — — — 1.1 — Collateralized mortgage obligations .1 — — — — — .1 — Total fixed maturities, available for sale 486.8 7.4 — (.7 ) 47.0 (141.1 ) 399.4 — Equity securities - corporate securities 26.2 .9 — — — — 27.1 — Trading securities: Commercial mortgage-backed securities — — — (.4 ) 29.1 — 28.7 (.4 ) Collateralized mortgage obligations 5.9 — — .1 — — 6.0 .1 Total trading securities 5.9 — — (.3 ) 29.1 — 34.7 (.3 ) Investments held by variable interest entities - corporate securities — 3.0 — (.1 ) 1.0 — 3.9 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (980.3 ) (12.2 ) .3 — — — (992.2 ) .3 ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the three months ended September 30, 2014 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 15.7 $ (9.1 ) $ — $ — $ 6.6 Asset-backed securities 1.9 (2.0 ) — — (.1 ) Commercial mortgage-backed securities 1.1 — — — 1.1 Mortgage pass-through securities — (.2 ) — — (.2 ) Total fixed maturities, available for sale 18.7 (11.3 ) — — 7.4 Equity securities - corporate securities .9 — — — .9 Investments held by variable interest entities - corporate securities 3.0 — — — 3.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (29.2 ) 3.9 (.5 ) 13.6 (12.2 ) The following table presents additional information about assets and liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the nine months ended September 30, 2014 (dollars in millions): September 30, 2014 Beginning balance as of December 31, 2013 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Assets of CLIC sold Ending balance as of September 30, 2014 Amount of total gains (losses) for the nine months ended September 30, 2014 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 359.6 $ 44.9 $ — $ 11.6 $ 52.7 $ (82.8 ) $ (51.2 ) $ 334.8 $ — States and political subdivisions — — — .1 2.1 — (2.2 ) — — Asset-backed securities 42.2 8.9 — 4.0 16.9 — (9.7 ) 62.3 — Collateralized debt obligations 246.7 — — — — (246.7 ) — — — Commercial mortgage-backed securities — 1.1 — — — — — 1.1 — Mortgage pass-through securities 1.6 (.5 ) — — — — — 1.1 — Collateralized mortgage obligations — (.1 ) — — .2 — — .1 — Total fixed maturities, available for sale 650.1 54.3 — 15.7 71.9 (329.5 ) (63.1 ) 399.4 — Equity securities - corporate securities 24.5 2.6 — — — — — 27.1 — Trading securities: Commercial mortgage-backed securities — 29.1 — (.4 ) — — — 28.7 (.4 ) Collateralized mortgage obligations — — — .2 5.8 — — 6.0 .2 Total trading securities — 29.1 — (.2 ) 5.8 — — 34.7 (.2 ) Investments held by variable interest entities - corporate securities — 3.0 — (.1 ) 1.0 — — 3.9 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (903.7 ) (62.0 ) (26.5 ) — — — — (992.2 ) (26.5 ) Other liabilities - embedded derivatives associated with modified coinsurance agreement (1.8 ) 1.8 — — — — — — — Total liabilities (905.5 ) (60.2 ) (26.5 ) — — — — (992.2 ) (26.5 ) ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the nine months ended September 30, 2014 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 47.7 $ (2.8 ) $ — $ — $ 44.9 Asset-backed securities 11.8 (2.9 ) — — 8.9 Commercial mortgage-backed securities

FAIR VALUE MEASUREMENTS (Polici

FAIR VALUE MEASUREMENTS (Policies)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and, therefore, represents an exit price, not an entry price. We carry certain assets and liabilities at fair value on a recurring basis, including fixed maturities, equity securities, trading securities, investments held by VIEs, derivatives, cash and cash equivalents, separate account assets and embedded derivatives. We carry our company-owned life insurance policy, which is invested in a series of mutual funds, at its cash surrender value and our hedge fund investments at their net asset values; in both cases, we believe these values approximate their fair values. In addition, we disclose fair value for certain financial instruments, including mortgage loans and policy loans, insurance liabilities for interest-sensitive products, investment borrowings, notes payable and borrowings related to VIEs. The degree of judgment utilized in measuring the fair value of financial instruments is largely dependent on the level to which pricing is based on observable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our view of market assumptions in the absence of observable market information. Financial instruments with readily available active quoted prices would be considered to have fair values based on the highest level of observable inputs, and little judgment would be utilized in measuring fair value. Financial instruments that rarely trade would often have fair value based on a lower level of observable inputs, and more judgment would be utilized in measuring fair value. Valuation Hierarchy There is a three-level hierarchy for valuing assets or liabilities at fair value based on whether inputs are observable or unobservable. • Level 1 – includes assets and liabilities valued using inputs that are unadjusted quoted prices in active markets for identical assets or liabilities. Our Level 1 assets primarily include cash and exchange traded securities. • Level 2 – includes assets and liabilities valued using inputs that are quoted prices for similar assets in an active market, quoted prices for identical or similar assets in a market that is not active, observable inputs, or observable inputs that can be corroborated by market data. Level 2 assets and liabilities include those financial instruments that are valued by independent pricing services using models or other valuation methodologies. These models consider various inputs such as credit rating, maturity, corporate credit spreads, reported trades and other inputs that are observable or derived from observable information in the marketplace or are supported by transactions executed in the marketplace. Financial assets in this category primarily include: certain publicly registered and privately placed corporate fixed maturity securities; certain government or agency securities; certain mortgage and asset-backed securities; certain equity securities; most investments held by our consolidated VIEs; certain mutual fund and hedge fund investments; most short-term investments; and non-exchange-traded derivatives such as call options. Financial liabilities in this category include investment borrowings, notes payable and borrowings related to VIEs. • Level 3 – includes assets and liabilities valued using unobservable inputs that are used in model-based valuations that contain management assumptions. Level 3 assets and liabilities include those financial instruments whose fair value is estimated based on broker/dealer quotes, pricing services or internally developed models or methodologies utilizing significant inputs not based on, or corroborated by, readily available market information. Financial assets in this category include certain corporate securities (primarily certain below-investment grade privately placed securities), certain structured securities, mortgage loans, and other less liquid securities. Financial liabilities in this category include our insurance liabilities for interest-sensitive products, which includes embedded derivatives (including embedded derivatives related to our fixed index annuity products and to a modified coinsurance arrangement) since their values include significant unobservable inputs including actuarial assumptions. At each reporting date, we classify assets and liabilities into the three input levels based on the lowest level of input that is significant to the measurement of fair value for each asset and liability reported at fair value. This classification is impacted by a number of factors, including the type of financial instrument, whether the financial instrument is new to the market and not yet established, the characteristics specific to the transaction and overall market conditions. Our assessment of the significance of a particular input to the fair value measurement and the ultimate classification of each asset and liability requires judgment and is subject to change from period to period based on the observability of the valuation inputs. Any transfers between levels are reported as having occurred at the beginning of the period. There were no transfers between Level 1 and Level 2 in both the first nine months of 2015 and 2014 . The vast majority of our fixed maturity and equity securities, including those held in trading portfolios and those held by consolidated VIEs, short-term and separate account assets use Level 2 inputs for the determination of fair value. These fair values are obtained primarily from independent pricing services, which use Level 2 inputs for the determination of fair value. Our Level 2 assets are valued as follows: • Fixed maturities available for sale, equity securities and trading securities Corporate securities are generally priced using market and income approaches. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity, and credit spreads. U.S. Treasuries and obligations of U.S. Government corporations and agencies are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets and maturity. States and political subdivisions are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, new issuances and credit spreads. Asset-backed securities, collateralized debt obligations, commercial mortgage-backed securities, mortgage pass-through securities and collateralized mortgage obligations are generally priced using market and income approaches. Inputs generally consist of quoted prices in inactive markets, spreads on actively traded securities, expected prepayments, expected credit default rates, delinquencies, and issue specific information including, but not limited to, collateral type, seniority and vintage. Equity securities (primarily comprised of non-redeemable preferred stock) are generally priced using the market approach. Inputs generally consist of trades of identical or similar securities, quoted prices in inactive markets, issuer rating, benchmark yields, maturity, and credit spreads. • Investments held by VIEs Corporate securities are generally priced using market and income approaches using pricing vendors. Inputs generally consist of issuer rating, benchmark yields, maturity, and credit spreads. • Other invested assets - derivatives The fair value measurements for derivative instruments, including embedded derivatives requiring bifurcation, are determined based on the consideration of several inputs including closing exchange or over-the-counter market price quotes; time value and volatility factors underlying options; market interest rates; and non-performance risk. Third party pricing services normally derive security prices through recently reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recently reported trades, the third party pricing services may use matrix or model processes to develop a security price where future cash flow expectations are discounted at an estimated risk-adjusted market rate. The number of prices obtained for a given security is dependent on the Company's analysis of such prices as further described below. As the Company is responsible for the determination of fair value, we have control processes designed to ensure that the fair values received from third-party pricing sources are reasonable and the valuation techniques and assumptions used appear reasonable and consistent with prevailing market conditions. Additionally, when inputs are provided by third-party pricing sources, we have controls in place to review those inputs for reasonableness. As part of these controls, we perform monthly quantitative and qualitative analysis on the prices received from third parties to determine whether the prices are reasonable estimates of fair value. The Company's analysis includes: (i) a review of the methodology used by third party pricing services; (ii) where available, a comparison of multiple pricing services' valuations for the same security; (iii) a review of month to month price fluctuations; (iv) a review to ensure valuations are not unreasonably dated; and (v) back testing to compare actual purchase and sale transactions with valuations received from third parties. As a result of such procedures, the Company may conclude the prices received from third parties are not reflective of current market conditions. In those instances, we may request additional pricing quotes or apply internally developed valuations. However, the number of such instances is insignificant and the aggregate change in value of such investments is not materially different from the original prices received. The categorization of the fair value measurements of our investments priced by independent pricing services was based upon the Company's judgment of the inputs or methodologies used by the independent pricing services to value different asset classes. Such inputs include: benchmark yields, reported trades, broker dealer quotes, issuer spreads, benchmark securities, bids, offers and reference data. The Company categorizes such fair value measurements based upon asset classes and the underlying observable or unobservable inputs used to value such investments. For securities that are not priced by pricing services and may not be reliably priced using pricing models, we obtain broker quotes. These broker quotes are non-binding and represent an exit price, but assumptions used to establish the fair value may not be observable and therefore represent Level 3 inputs. Approximately 49 percent of our Level 3 fixed maturity securities were valued using unadjusted broker quotes or broker-provided valuation inputs. The remaining Level 3 fixed maturity investments do not have readily determinable market prices and/or observable inputs. For these securities, we use internally developed valuations. Key assumptions used to determine fair value for these securities may include risk premiums, projected performance of underlying collateral and other factors involving significant assumptions which may not be reflective of an active market. For certain investments, we use a matrix or model process to develop a security price where future cash flow expectations are discounted at an estimated market rate. The pricing matrix incorporates term interest rates as well as a spread level based on the issuer's credit rating, other factors relating to the issuer, and the security's maturity. In some instances issuer-specific spread adjustments, which can be positive or negative, are made based upon internal analysis of security specifics such as liquidity, deal size, and time to maturity. For certain embedded derivatives, we use actuarial assumptions in the determination of fair value which we consider to be Level 3 inputs. For those financial instruments disclosed at fair value, we use the following methods and assumptions to determine the estimated fair values: Mortgage loans and policy loans. We discount future expected cash flows based on interest rates currently being offered for similar loans with similar risk characteristics. We aggregate loans with similar characteristics in our calculations. The fair value of policy loans approximates their carrying value. Company-owned life insurance is backed by a series of mutual funds and is carried at cash surrender value which approximates estimated fair value. Alternative investment funds are carried at their net asset values which approximates estimated fair value. Cash and cash equivalents include commercial paper, invested cash and other investments purchased with original maturities of less than three months. We carry them at amortized cost, which approximates estimated fair value. Liabilities for policyholder account balances. The estimated fair value of insurance liabilities for policyholder account balances was approximately equal to its carrying value as interest rates credited on the vast majority of account balances approximate current rates paid on similar products and because these rates are not generally guaranteed beyond one year. Investment borrowings, notes payable and borrowings related to variable interest entities. For publicly traded debt, we use current fair values. For other notes, we use discounted cash flow analyses based on our current incremental borrowing rates for similar types of borrowing arrangements. Realized and unrealized gains (losses) on Level 3 assets are primarily reported in either net investment income for policyholder and reinsurer accounts and other special-purpose portfolios, net realized investment gains (losses) or insurance policy benefits within the consolidated statement of operations or accumulated other comprehensive income within shareholders' equity based on the appropriate accounting treatment for the instrument. The amount presented for gains (losses) included in our net loss for assets and liabilities still held as of the reporting date primarily represents impairments for fixed maturities, available for sale, changes in fair value of trading securities and certain derivatives and changes in fair value of embedded derivative instruments included in liabilities for insurance products that exist as of the reporting date.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of accumulated other comprehensive income (loss)	Accumulated other comprehensive income is primarily comprised of the net effect of unrealized appreciation (depreciation) on our investments. These amounts, included in shareholders' equity as of September 30, 2015 and December 31, 2014 , were as follows (dollars in millions): September 30, December 31, Net unrealized appreciation (depreciation) on fixed maturity securities, available for sale, on which an other-than-temporary impairment loss has been recognized $ 3.1 $ 5.3 Net unrealized gains on all other investments 1,346.3 2,207.7 Adjustment to present value of future profits (a) (132.5 ) (149.9 ) Adjustment to deferred acquisition costs (290.7 ) (390.5 ) Adjustment to insurance liabilities (127.9 ) (381.4 ) Unrecognized net loss related to deferred compensation plan (4.8 ) (8.5 ) Deferred income tax liabilities (283.1 ) (457.4 ) Accumulated other comprehensive income $ 510.4 $ 825.3 ________ (a) The present value of future profits is the value assigned to the right to receive future cash flows from contracts existing at September 10, 2003, the date Conseco, Inc., an Indiana corporation (our "Predecessor"), emerged from bankruptcy.
Schedule of fixed maturities for available for sale and equity securities	At September 30, 2015 , the amortized cost, gross unrealized gains and losses, estimated fair value, other-than-temporary impairments in accumulated other comprehensive income of fixed maturities, available for sale, and equity securities were as follows (dollars in millions): Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Other-than-temporary impairments included in accumulated other comprehensive income Corporate securities $ 12,280.0 $ 1,159.0 $ (241.2 ) $ 13,197.8 $ — United States Treasury securities and obligations of United States government corporations and agencies 137.4 25.5 — 162.9 — States and political subdivisions 2,024.7 241.2 (6.5 ) 2,259.4 (3.0 ) Debt securities issued by foreign governments 16.7 — (.2 ) 16.5 — Asset-backed securities 1,438.4 66.1 (4.9 ) 1,499.6 — Collateralized debt obligations 361.2 1.4 (1.2 ) 361.4 — Commercial mortgage-backed securities 1,464.9 60.4 (6.7 ) 1,518.6 — Mortgage pass-through securities 3.2 .3 — 3.5 — Collateralized mortgage obligations 1,046.2 79.6 (1.0 ) 1,124.8 (2.9 ) Total fixed maturities, available for sale $ 18,772.7 $ 1,633.5 $ (261.7 ) $ 20,144.5 $ (5.9 ) Equity securities $ 429.7 $ 12.1 $ (4.5 ) $ 437.3
Schedule of investments classified by contractual maturity date	The following table sets forth the amortized cost and estimated fair value of fixed maturities, available for sale, at September 30, 2015 , by contractual maturity. Actual maturities will differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without penalties. In addition, structured securities (such as asset-backed securities, collateralized debt obligations, commercial mortgage-backed securities, mortgage pass-through securities and collateralized mortgage obligations, collectively referred to as "structured securities") frequently include provisions for periodic principal payments and permit periodic unscheduled payments. Amortized cost Estimated fair value (Dollars in millions) Due in one year or less $ 225.6 $ 230.0 Due after one year through five years 2,211.1 2,383.1 Due after five years through ten years 1,872.4 1,979.7 Due after ten years 10,149.7 11,043.8 Subtotal 14,458.8 15,636.6 Structured securities 4,313.9 4,507.9 Total fixed maturities, available for sale $ 18,772.7 $ 20,144.5
Schedule of realized gain (loss) on investments	The following table sets forth the net realized investment gains (losses) for the periods indicated (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Fixed maturity securities, available for sale: Gross realized gains on sale $ 21.7 $ 8.3 $ 47.9 $ 54.7 Gross realized losses on sale (27.8 ) (2.6 ) (48.7 ) (11.1 ) Impairments: Total other-than-temporary impairment losses (11.1 ) — (12.4 ) — Other-than-temporary impairment losses recognized in accumulated other comprehensive income 3.0 — 3.0 — Net impairment losses recognized (8.1 ) — (9.4 ) — Net realized investment gains from fixed maturities (14.2 ) 5.7 (10.2 ) 43.6 Equity securities — 1.9 3.0 9.8 Commercial mortgage loans — (1.2 ) (2.3 ) (.1 ) Impairments of mortgage loans and other investments (4.3 ) (2.8 ) (12.2 ) (14.7 ) Gain on dissolution of a variable interest entity — — 11.3 — Other (a) (1.1 ) .4 (10.4 ) 1.2 Net realized investment gains (losses) $ (19.6 ) $ 4.0 $ (20.8 ) $ 39.8 _________________ (a) Changes in the estimated fair value of trading securities that we have elected the fair value option (and are still held as of the end of the respective periods) were $(4.7) million and $6.3 million for the nine months ended September 30, 2015 and 2014 , respectively.
Schedule of credit losses recognized in earnings	The following table summarizes the amount of credit losses recognized in earnings on fixed maturity securities, available for sale, held at the beginning of the period, for which a portion of the other-than-temporary impairment was also recognized in accumulated other comprehensive income for the three and nine months ended September 30, 2015 and 2014 (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Credit losses on fixed maturity securities, available for sale, beginning of period $ (1.0 ) $ (1.2 ) $ (1.0 ) $ (1.3 ) Add: credit losses on other-than-temporary impairments not previously recognized (2.0 ) — (2.0 ) — Less: credit losses on securities sold .1 .1 .1 .2 Less: credit losses on securities impaired due to intent to sell (a) — — — — Add: credit losses on previously impaired securities — — — — Less: increases in cash flows expected on previously impaired securities — — — — Credit losses on fixed maturity securities, available for sale, end of period $ (2.9 ) $ (1.1 ) $ (2.9 ) $ (1.1 ) __________ (a) Represents securities for which the amount previously recognized in accumulated other comprehensive income was recognized in earnings because we intend to sell the security or we more likely than not will be required to sell the security before recovery of its amortized cost basis.
Schedule of unrealized loss on investments	The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at September 30, 2015 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses States and political subdivisions $ 101.8 $ (3.4 ) $ 16.8 $ (3.1 ) $ 118.6 $ (6.5 ) Debt securities issued by foreign governments 16.5 (.2 ) — — 16.5 (.2 ) Corporate securities 2,275.1 (175.7 ) 270.1 (65.5 ) 2,545.2 (241.2 ) Asset-backed securities 352.0 (4.0 ) 63.0 (.9 ) 415.0 (4.9 ) Collateralized debt obligations 86.8 (.6 ) 91.1 (.6 ) 177.9 (1.2 ) Commercial mortgage-backed securities 287.0 (6.7 ) 8.9 — 295.9 (6.7 ) Mortgage pass-through securities — — .2 — .2 — Collateralized mortgage obligations 49.6 (.6 ) 38.0 (.4 ) 87.6 (1.0 ) Total fixed maturities, available for sale $ 3,168.8 $ (191.2 ) $ 488.1 $ (70.5 ) $ 3,656.9 $ (261.7 ) Equity securities $ 123.5 $ (4.1 ) $ 2.4 $ (.4 ) $ 125.9 $ (4.5 ) The following table summarizes the gross unrealized losses and fair values of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that such securities have been in a continuous unrealized loss position, at December 31, 2014 (dollars in millions): Less than 12 months 12 months or greater Total Description of securities Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses United States Treasury securities and obligations of United States government corporations and agencies $ 12.1 $ (.1 ) $ 4.6 $ — $ 16.7 $ (.1 ) States and political subdivisions 13.2 (.3 ) 44.5 (2.7 ) 57.7 (3.0 ) Corporate securities 985.0 (65.9 ) 297.5 (19.2 ) 1,282.5 (85.1 ) Asset-backed securities 91.2 (1.3 ) 60.5 (2.1 ) 151.7 (3.4 ) Collateralized debt obligations 184.2 (3.4 ) — — 184.2 (3.4 ) Commercial mortgage-backed securities 46.7 (.5 ) — — 46.7 (.5 ) Mortgage pass-through securities .5 — .1 — .6 — Collateralized mortgage obligations 79.0 (.8 ) 32.0 (.5 ) 111.0 (1.3 ) Total fixed maturities, available for sale $ 1,411.9 $ (72.3 ) $ 439.2 $ (24.5 ) $ 1,851.1 $ (96.8 ) Equity securities $ 13.2 $ (.6 ) $ .5 $ — $ 13.7 $ (.6 )

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of earnings per share reconciliation	A reconciliation of net income and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Net income (loss) for basic and diluted earnings per share $ 33.8 $ 117.4 $ 133.4 $ (32.5 ) Shares: Weighted average shares outstanding for basic earnings per share 190,260 210,525 195,536 215,790 Effect of dilutive securities on weighted average shares (a): Stock options, restricted stock and performance units 2,105 2,447 2,035 — Warrants — 2,486 — — Weighted average shares outstanding for diluted earnings per share 192,365 215,458 197,571 215,790 ________ (a) In the nine months ended September 30, 2014 , 5,435 thousand equivalent common shares (comprised of 2,458 thousand shares related to stock options, restricted stock and performance units and 2,977 thousand shares related to warrants) were not included in the diluted weighted average shares outstanding, because their inclusion would have been antidilutive in such period due to the net loss recognized by the Company resulting from the sale of Conseco Life Insurance Company ("CLIC").

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of segment reporting information by segment	Operating information by segment was as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Revenues: Bankers Life: Insurance policy income: Annuities $ 5.2 $ 6.6 $ 17.0 $ 21.8 Health 311.6 319.4 940.5 970.4 Life 95.7 90.4 281.6 248.6 Net investment income (a) 196.3 231.2 648.0 703.2 Fee revenue and other income (a) 7.0 7.0 19.8 18.1 Total Bankers Life revenues 615.8 654.6 1,906.9 1,962.1 Washington National: Insurance policy income: Annuities .7 .9 2.3 3.3 Health 155.0 147.1 459.9 444.8 Life 6.4 6.0 19.0 18.2 Net investment income (a) 58.4 65.2 187.1 206.0 Fee revenue and other income (a) .3 .3 1.0 .7 Total Washington National revenues 220.8 219.5 669.3 673.0 Colonial Penn: Insurance policy income: Health .7 .8 2.3 2.7 Life 65.3 60.9 194.6 181.2 Net investment income (a) 10.5 10.3 32.0 31.5 Fee revenue and other income (a) .2 .2 .7 .7 Total Colonial Penn revenues 76.7 72.2 229.6 216.1 Corporate operations: Net investment income (6.1 ) (1.0 ) 3.4 11.7 Fee and other income 2.1 1.9 6.2 4.6 Total corporate revenues (4.0 ) .9 9.6 16.3 Total revenues 909.3 947.2 2,815.4 2,867.5 (continued on next page) (continued from previous page) Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Expenses: Bankers Life: Insurance policy benefits $ 386.1 $ 394.9 $ 1,202.1 $ 1,237.8 Amortization 44.1 47.1 143.4 140.7 Interest expense on investment borrowings 2.2 2.0 6.4 5.8 Other operating costs and expenses 103.6 98.8 306.6 294.4 Total Bankers Life expenses 536.0 542.8 1,658.5 1,678.7 Washington National: Insurance policy benefits 129.8 129.5 408.8 394.1 Amortization 13.5 14.8 42.5 47.1 Interest expense on investment borrowings .5 .4 1.4 1.3 Other operating costs and expenses 46.4 47.2 137.4 139.5 Total Washington National expenses 190.2 191.9 590.1 582.0 Colonial Penn: Insurance policy benefits 45.7 41.1 142.1 129.0 Amortization 3.6 3.7 10.9 11.5 Other operating costs and expenses 26.8 27.0 77.7 77.6 Total Colonial Penn expenses 76.1 71.8 230.7 218.1 Corporate operations: Interest expense on corporate debt 11.3 10.9 33.7 33.1 Interest expense on investment borrowings .1 — .2 — Other operating costs and expenses 7.8 10.0 27.6 35.1 Total corporate expenses 19.2 20.9 61.5 68.2 Total expenses 821.5 827.4 2,540.8 2,547.0 Pre-tax operating earnings by segment: Bankers Life 79.8 111.8 248.4 283.4 Washington National 30.6 27.6 79.2 91.0 Colonial Penn .6 .4 (1.1 ) (2.0 ) Corporate operations (23.2 ) (20.0 ) (51.9 ) (51.9 ) Pre-tax operating earnings $ 87.8 $ 119.8 $ 274.6 $ 320.5 ___________________ (a) It is not practicable to provide additional components of revenue by product or services.
Reconciliation of operating profit (loss) from segments to consolidated	A reconciliation of segment revenues and expenses to consolidated revenues and expenses and net income (loss) is as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Total segment revenues $ 909.3 $ 947.2 $ 2,815.4 $ 2,867.5 Net realized investment gains (losses) (19.6 ) 4.0 (32.1 ) 37.0 Revenues related to certain non-strategic investments and earnings attributable to VIEs 9.8 8.3 39.0 21.9 Fee revenue related to transition and support services agreements 5.0 7.5 20.0 7.5 Revenues of CLIC prior to being sold — — — 210.8 Consolidated revenues 904.5 967.0 2,842.3 3,144.7 Total segment expenses 821.5 827.4 2,540.8 2,547.0 Insurance policy benefits - fair value changes in embedded derivative liabilities 20.5 — 3.4 25.3 Amortization related to fair value changes in embedded derivative liabilities (4.8 ) .1 (.7 ) (6.8 ) Amortization related to net realized investment gains (.6 ) .1 (.5 ) .6 Expenses related to certain non-strategic investments and expenses attributable to VIEs 10.1 10.9 32.6 30.7 Fair value changes related to agent deferred compensation plan — — — 11.8 Loss on extinguishment or modification of debt — — 32.8 .6 Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses — (32.1 ) 9.0 242.7 Expenses related to transition and support services agreements 5.4 6.2 17.5 6.2 Expenses of CLIC prior to being sold — — — 187.4 Consolidated expenses 852.1 812.6 2,634.9 3,045.5 Income before tax 52.4 154.4 207.4 99.2 Income tax expense: Tax expense on period income 18.6 53.8 74.0 133.1 Valuation allowance for deferred tax assets and other tax items — (16.8 ) — (1.4 ) Net income (loss) $ 33.8 $ 117.4 $ 133.4 $ (32.5 )

ACCOUNTING FOR DERIVATIVES (Tab

ACCOUNTING FOR DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value by balance sheet location	Our freestanding and embedded derivatives, none of which are designated as hedging instruments, are held at fair value and are summarized as follows (dollars in millions): Fair value September 30, December 31, 2014 Assets: Other invested assets: Fixed index call options $ 28.7 $ 107.2 Interest rate futures (.5 ) (.2 ) Reinsurance receivables (2.3 ) 2.0 Total assets $ 25.9 $ 109.0 Liabilities: Future policy benefits: Fixed index products $ 1,079.1 $ 1,081.5 Total liabilities $ 1,079.1 $ 1,081.5
Schedule pre-tax gains (losses) recognized in net income for derivative instruments	The following table provides the pre-tax gains (losses) recognized in net income for derivative instruments, which are not designated as hedges for the periods indicated (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Net investment income from policyholder and reinsurer accounts and other special-purpose portfolios: Fixed index call options $ (34.2 ) $ 5.6 $ (42.2 ) $ 42.3 Embedded derivative related to reinsurance contract — — — (1.4 ) Total (34.2 ) 5.6 (42.2 ) 40.9 Net realized gains (losses): Interest rate futures (1.6 ) (.1 ) (3.2 ) (4.7 ) Embedded derivative related to modified coinsurance agreement — — (4.3 ) — Total (1.6 ) (.1 ) (7.5 ) (4.7 ) Insurance policy benefits: Embedded derivative related to fixed index annuities (21.2 ) .3 (3.7 ) (26.5 ) Total $ (57 ) $ 5.8 $ (53.4 ) $ 9.7
Derivatives with master netting arrangements	The following table summarizes information related to derivatives and repurchase agreements with master netting arrangements or collateral as of September 30, 2015 and December 31, 2014 (dollars in millions): Gross amounts not offset in the balance sheet Gross amounts recognized Gross amounts offset in the balance sheet Net amounts of assets presented in the balance sheet Financial instruments Cash collateral received Net amount September 30, 2015: Fixed index call options $ 28.7 $ — $ 28.7 $ — $ — $ 28.7 Interest rate futures (.5 ) 1.0 .5 — — .5 Repurchase agreements (a) 20.4 — 20.4 20.4 — — December 31, 2014: Fixed index call options 107.2 — 107.2 — — 107.2 Interest rate futures (.2 ) 1.5 1.3 — — 1.3 Repurchase agreements (a) 20.4 — 20.4 20.4 — — _________________ (a) As of September 30, 2015 and December 31, 2014 , these agreements were collateralized by investment securities with a fair value of $25.4 million and $25.3 million , respectively.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense	The components of income tax expense are as follows (dollars in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Current tax expense $ 3.5 $ 5.4 $ 9.7 $ 11.5 Deferred tax expense 17.2 48.4 66.2 121.6 Valuation allowance applicable to current year income — (3.0 ) — (3.0 ) Income tax expense calculated based on estimated annual effective tax rate 20.7 50.8 75.9 130.1 Income tax expense on discrete items: Tax expense related to the sale of CLIC — — — 19.4 Valuation allowance reduction related to the increase in projected future taxable income — (12.6 ) — (12.6 ) Other items (2.1 ) (1.2 ) (1.9 ) (5.2 ) Total income tax expense $ 18.6 $ 37.0 $ 74.0 $ 131.7
Schedule of effective income tax rate reconciliation	A reconciliation of the U.S. statutory corporate tax rate to the estimated annual effective rate, before discrete items, reflected in the consolidated statement of operations is as follows: Nine months ended September 30, 2015 2014 U.S. statutory corporate rate 35.0 % 35.0 % Valuation allowance — (.7 ) Non-taxable income and nondeductible benefits, net (.2 ) (.8 ) State taxes 1.8 1.5 Estimated annual effective tax rate 36.6 % 35.0 %
Schedule of deferred tax assets and liabilities	The components of the Company's income tax assets and liabilities are summarized below (dollars in millions): September 30, December 31, Deferred tax assets: Net federal operating loss carryforwards $ 967.1 $ 1,048.4 Net state operating loss carryforwards 14.6 15.2 Tax credits 52.2 47.2 Capital loss carryforwards 14.9 — Investments 30.9 59.7 Insurance liabilities 602.2 585.9 Other 63.1 67.3 Gross deferred tax assets 1,745.0 1,823.7 Deferred tax liabilities: Present value of future profits and deferred acquisition costs (307.0 ) (320.5 ) Accumulated other comprehensive income (282.3 ) (457.4 ) Gross deferred tax liabilities (589.3 ) (777.9 ) Net deferred tax assets before valuation allowance 1,155.7 1,045.8 Valuation allowance (246.0 ) (246.0 ) Net deferred tax assets 909.7 799.8 Current income taxes accrued (47.4 ) (41.1 ) Income tax assets, net $ 862.3 $ 758.7
Summary of operating loss carryforwards	The following table summarizes the expiration dates of our loss carryforwards assuming the Internal Revenue Service ("IRS") ultimately agrees with the position we have taken with respect to the loss on our investment in Conseco Senior Health Insurance Company ("CSHI") and other uncertain tax positions(dollars in millions): Year of expiration Net operating loss carryforwards Total loss Life Non-life carryforwards 2023 $ 645.8 $ 1,959.7 $ 2,605.5 2025 — 91.5 91.5 2026 — 207.4 207.4 2027 — 4.9 4.9 2028 — 203.7 203.7 2029 — 146.6 146.6 2032 — 44.0 44.0 Subtotal 645.8 2,657.8 3,303.6 Less: Unrecognized tax benefits (342.9 ) (197.4 ) (540.3 ) Total $ 302.9 $ 2,460.4 $ 2,763.3

NOTES PAYABLE - DIRECT CORPOR32

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	The following notes payable were direct corporate obligations of the Company as of September 30, 2015 and December 31, 2014 (dollars in millions): September 30, December 31, 4.500% Senior Notes due May 2020 $ 325.0 $ — 5.250% Senior Notes due May 2025 500.0 — New Revolving Credit Agreement (as defined below) 100.0 — Previous Senior Secured Credit Agreement (as defined below) — 522.1 6.375% Senior Secured Notes due October 2020 (the "6.375% Notes") — 275.0 Unamortized discount on Previous Senior Secured Credit Agreement — (2.7 ) Direct corporate obligations $ 925.0 $ 794.4
Sources and uses of recapitalization transactions	The following table sets forth the sources and uses of cash from the debt refinancing transactions discussed above (dollars in millions): Sources: Notes $ 825.0 New Revolving Credit Agreement 100.0 Total sources $ 925.0 Uses: Repayment of Previous Senior Secured Credit Agreement $ 502.3 Repayment of 6.375% Notes, including redemption premium 292.8 Accrued interest 4.3 Debt issuance costs 16.0 General corporate purposes 109.6 Total uses $ 925.0
Schedule of maturities of long-term debt	The scheduled repayment of our direct corporate obligations was as follows at September 30, 2015 (dollars in millions): Year ending September 30, 2016 $ — 2017 — 2018 — 2019 100.0 2020 325.0 Thereafter 500.0 $ 925.0

INVESTMENT BORROWINGS (Tables)

INVESTMENT BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2015
Investment Borrowings [Abstract]
Schedule of terms of federal home loan bank borrowing	The following summarizes the terms of the borrowings from the FHLB by Washington National, Bankers Life and Colonial Penn (dollars in millions): Amount Maturity Interest rate at borrowed date September 30, 2015 $ 100.0 October 2016 Variable rate – 0.464% 50.0 November 2016 Variable rate – 0.604% 57.7 June 2017 Variable rate – 0.629% 50.0 August 2017 Variable rate – 0.521% 75.0 August 2017 Variable rate – 0.479% 100.0 October 2017 Variable rate – 0.719% 50.0 November 2017 Variable rate – 0.842% 50.0 January 2018 Variable rate – 0.636% 50.0 January 2018 Variable rate – 0.634% 50.0 February 2018 Variable rate – 0.621% 50.0 February 2018 Variable rate – 0.411% 22.0 February 2018 Variable rate – 0.655% 100.0 May 2018 Variable rate – 0.644% 50.0 July 2018 Variable rate – 0.764% 50.0 August 2018 Variable rate – 0.441% 50.0 January 2019 Variable rate – 0.709% 50.0 February 2019 Variable rate – 0.411% 100.0 March 2019 Variable rate – 0.687% 21.8 July 2019 Variable rate – 0.706% 50.0 May 2020 Variable rate – 0.727% 21.8 June 2020 Fixed rate – 1.960% 25.0 September 2020 Variable rate – 0.951% 100.0 September 2020 Variable rate – 0.854% 50.0 September 2020 Variable rate – 0.854% 75.0 September 2020 Variable rate – 0.447% 28.2 August 2021 Fixed rate – 2.550% 26.3 March 2023 Fixed rate – 2.160% 20.5 June 2025 Fixed rate – 2.940% $ 1,523.3

CHANGES IN COMMON STOCK (Tables

CHANGES IN COMMON STOCK (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Schedule of options activity	Changes in the number of shares of common stock outstanding were as follows (shares in thousands): Balance, December 31, 2014 203,324 Treasury stock purchased and retired (17,765 ) Stock options exercised 669 Restricted and performance stock vested 514 (a) Balance, September 30, 2015 186,742 ____________________ (a) Such amount was reduced by 236 thousand shares which were tendered to the Company for the payment of required federal and state tax withholdings owed on the vesting of restricted and performance stock.

CONSOLIDATED STATEMENT OF CAS35

CONSOLIDATED STATEMENT OF CASH FLOWS (Tables)	9 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of the reconciliation for net income provided by operating activities	The following reconciles net income (loss) to net cash from operating activities (dollars in millions): Nine months ended September 30, 2015 2014 Cash flows from operating activities: Net income (loss) $ 133.4 $ (32.5 ) Adjustments to reconcile net income to net cash from operating activities: Amortization and depreciation 213.3 218.2 Income taxes 70.7 128.9 Insurance liabilities 237.9 228.9 Accrual and amortization of investment income (15.8 ) (112.3 ) Deferral of policy acquisition costs (181.9 ) (176.6 ) Net realized investment (gains) losses 20.8 (39.8 ) Payment to reinsurer pursuant to long-term care business reinsured — (590.3 ) Net loss on sale of subsidiary, gain on reinsurance transactions and transition expenses 9.0 242.7 Loss on extinguishment or modification of debt 32.8 .6 Other 15.1 8.3 Net cash from operating activities $ 535.3 $ (123.9 ) (a) ______________________ (a) Cash flows from operating activities reflect outflows in the 2014 period due to the payment to reinsurer to transfer certain long-term care business.
Schedule of other significant noncash transactions	Other non-cash items not reflected in the investing and financing activities sections of the consolidated statement of cash flows (dollars in millions): Nine months ended September 30, 2015 2014 Stock options, restricted stock and performance units $ 12.9 $ 11.6
Schedule of recapture of life business [Table Text Block]	On July 1, 2014, Bankers Life recaptured the life business written by Bankers Life that was reinsured by Wilton Re in 2009. The following summarizes the impact of the recapture (dollars in millions): Investments $ 139.4 (a) (b) Cash 7.7 Present value of future profits and deferred acquisition costs 29.0 (b) Reinsurance receivables (155.9 ) (b) Other liabilities 5.9 (b) Gain on reinsurance transaction (classified as "Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses") 26.1 Income tax expense 9.2 Gain on reinsurance transaction (net of income taxes) $ 16.9 ___________________ (a) Such amount has been reduced by a $28.0 million recapture fee. (b) Such non-cash amounts have been excluded from the consolidated statement of cash flows.

INVESTMENTS IN VARIABLE INTER36

INVESTMENTS IN VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Investments in Variable Interest Entities [Abstract]
Schedule of impact on balance sheet of consolidating variable interest entities	The following table provides supplemental information about the assets and liabilities of the VIEs which have been consolidated in accordance with authoritative guidance (dollars in millions): September 30, 2015 VIEs Eliminations Net effect on consolidated balance sheet Assets: Investments held by variable interest entities $ 1,488.1 $ — $ 1,488.1 Notes receivable of VIEs held by insurance subsidiaries — (168.7 ) (168.7 ) Cash and cash equivalents held by variable interest entities 106.9 — 106.9 Accrued investment income 3.2 — 3.2 Income tax assets, net 14.8 (1.4 ) 13.4 Other assets 17.8 (3.5 ) 14.3 Total assets $ 1,630.8 $ (173.6 ) $ 1,457.2 Liabilities: Other liabilities $ 46.3 $ (6.6 ) $ 39.7 Borrowings related to variable interest entities 1,442.3 — 1,442.3 Notes payable of VIEs held by insurance subsidiaries 169.8 (169.8 ) — Total liabilities $ 1,658.4 $ (176.4 ) $ 1,482.0 December 31, 2014 VIEs Eliminations Net effect on consolidated balance sheet Assets: Investments held by variable interest entities $ 1,367.1 $ — $ 1,367.1 Notes receivable of VIEs held by insurance subsidiaries — (153.3 ) (153.3 ) Cash and cash equivalents held by variable interest entities 68.3 — 68.3 Accrued investment income 3.2 — 3.2 Income tax assets, net 18.1 (2.9 ) 15.2 Other assets 14.2 (1.7 ) 12.5 Total assets $ 1,470.9 $ (157.9 ) $ 1,313.0 Liabilities: Other liabilities $ 61.2 $ (6.1 ) $ 55.1 Borrowings related to variable interest entities 1,286.1 — 1,286.1 Notes payable of VIEs held by insurance subsidiaries 157.3 (157.3 ) — Total liabilities $ 1,504.6 $ (163.4 ) $ 1,341.2
Summary of variable interest entities by contractual maturity	The following table sets forth the amortized cost and estimated fair value of the investments held by the VIEs at September 30, 2015 , by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Amortized cost Estimated fair value (Dollars in millions) Due in one year or less $ 12.6 $ 12.6 Due after one year through five years 630.8 616.4 Due after five years through ten years 875.0 859.1 Total $ 1,518.4 $ 1,488.1

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of financial instruments carried at fair value categorized by input level	The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at September 30, 2015 is as follows (dollars in millions): Quoted prices in active markets Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 13,051.5 $ 146.3 $ 13,197.8 United States Treasury securities and obligations of United States government corporations and agencies — 162.9 — 162.9 States and political subdivisions — 2,259.4 — 2,259.4 Debt securities issued by foreign governments — 16.5 — 16.5 Asset-backed securities — 1,459.6 40.0 1,499.6 Collateralized debt obligations — 361.4 — 361.4 Commercial mortgage-backed securities — 1,503.0 15.6 1,518.6 Mortgage pass-through securities — 3.4 .1 3.5 Collateralized mortgage obligations — 1,124.8 — 1,124.8 Total fixed maturities, available for sale — 19,942.5 202.0 20,144.5 Equity securities - corporate securities 234.0 172.4 30.9 437.3 Trading securities: Corporate securities — 21.8 — 21.8 United States Treasury securities and obligations of United States government corporations and agencies — 2.7 — 2.7 Asset-backed securities — 21.7 — 21.7 Collateralized debt obligations — 2.4 — 2.4 Commercial mortgage-backed securities — 149.9 30.1 180.0 Collateralized mortgage obligations — 25.7 — 25.7 Equity securities 3.2 — — 3.2 Total trading securities 3.2 224.2 30.1 257.5 Investments held by variable interest entities - corporate securities — 1,488.1 — 1,488.1 Other invested assets - derivatives .6 28.7 — 29.3 Assets held in separate accounts — 5.0 — 5.0 Total assets carried at fair value by category $ 237.8 $ 21,860.9 $ 263.0 $ 22,361.7 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products $ — $ — $ 1,079.1 $ 1,079.1 The categorization of fair value measurements, by input level, for our financial instruments carried at fair value on a recurring basis at December 31, 2014 is as follows (dollars in millions): Quoted prices in active markets for identical assets or liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: Fixed maturities, available for sale: Corporate securities $ — $ 13,605.1 $ 365.9 $ 13,971.0 United States Treasury securities and obligations of United States government corporations and agencies — 168.9 — 168.9 States and political subdivisions — 2,242.2 35.5 2,277.7 Debt securities issued by foreign governments — 1.9 — 1.9 Asset-backed securities — 1,209.8 59.2 1,269.0 Collateralized debt obligations — 324.5 — 324.5 Commercial mortgage-backed securities — 1,275.1 1.2 1,276.3 Mortgage pass-through securities — 4.2 .4 4.6 Collateralized mortgage obligations — 1,341.0 — 1,341.0 Total fixed maturities, available for sale — 20,172.7 462.2 20,634.9 Equity securities - corporate securities 216.9 174.1 28.0 419.0 Trading securities: Corporate securities — 24.3 — 24.3 United States Treasury securities and obligations of United States government corporations and agencies — 3.7 — 3.7 Asset-backed securities — 24.0 — 24.0 Commercial mortgage-backed securities — 131.0 28.6 159.6 Mortgage pass-through securities — .1 — .1 Collateralized mortgage obligations — 29.7 — 29.7 Equity securities 3.5 — — 3.5 Total trading securities 3.5 212.8 28.6 244.9 Investments held by variable interest entities - corporate securities — 1,367.1 — 1,367.1 Other invested assets - derivatives 1.4 107.2 — 108.6 Assets held in separate accounts — 5.6 — 5.6 Total assets carried at fair value by category $ 221.8 $ 22,039.5 $ 518.8 $ 22,780.1 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products $ — $ — $ 1,081.5 $ 1,081.5
Schedule of assets and liabilities measured on a recurring fair value basis	The fair value measurements for our financial instruments disclosed at fair value on a recurring basis are as follows (dollars in millions): September 30, 2015 Quoted prices in active markets for identical assets or liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total estimated fair value Total carrying amount Assets: Mortgage loans $ — $ — $ 1,801.2 $ 1,801.2 $ 1,712.6 Policy loans — — 109.5 109.5 109.5 Other invested assets: Company-owned life insurance — 153.9 — 153.9 153.9 Alternative investment funds — 101.0 — 101.0 101.0 Cash and cash equivalents: Unrestricted 453.8 160.0 — 613.8 613.8 Held by variable interest entities 106.9 — — 106.9 106.9 Liabilities: Policyholder account balances — — 10,728.0 10,728.0 10,728.0 Investment borrowings — 1,546.3 — 1,546.3 1,543.7 Borrowings related to variable interest entities — 1,433.6 — 1,433.6 1,442.3 Notes payable – direct corporate obligations — 941.9 — 941.9 925.0 December 31, 2014 Quoted prices in active markets for identical assets or liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total estimated fair value Total carrying amount Assets: Mortgage loans $ — $ — $ 1,768.9 $ 1,768.9 $ 1,691.9 Policy loans — — 106.9 106.9 106.9 Other invested assets: Company-owned life insurance — 157.6 — 157.6 157.6 Alternative investment funds — 102.8 — 102.8 102.8 Cash and cash equivalents: Unrestricted 549.6 62.0 — 611.6 611.6 Held by variable interest entities 68.3 — — 68.3 68.3 Liabilities: Policyholder account balances — — 10,707.2 10,707.2 10,707.2 Investment borrowings — 1,520.4 — 1,520.4 1,519.2 Borrowings related to variable interest entities — 1,229.2 — 1,229.2 1,286.1 Notes payable – direct corporate obligations — 807.4 — 807.4 794.4 The following table presents additional information about assets and liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the three months ended September 30, 2015 (dollars in millions): September 30, 2015 Beginning balance as of June 30, 2015 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2015 Amount of total gains (losses) for the three months ended September 30, 2015 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 133.7 $ 4.6 $ — $ (3.8 ) $ 11.8 $ — $ 146.3 $ — Asset-backed securities 53.3 10.4 — .2 — (23.9 ) 40.0 — Commercial mortgage-backed securities 1.2 14.6 — (.2 ) — — 15.6 — Mortgage pass-through securities .2 (.1 ) — — — — .1 — Total fixed maturities, available for sale 188.4 29.5 — (3.8 ) 11.8 (23.9 ) 202.0 — Equity securities - corporate securities 29.9 1.0 — — — — 30.9 — Trading securities - commercial mortgage-backed securities 39.9 — — (.6 ) — (9.2 ) 30.1 (.6 ) Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,074.0 ) 16.1 (21.2 ) — — — (1,079.1 ) (21.2 ) _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the three months ended September 30, 2015 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 6.0 $ (1.4 ) $ — $ — $ 4.6 Asset-backed securities 11.0 (.6 ) — — 10.4 Commercial mortgage-backed securities 14.6 — — — 14.6 Mortgage pass-through securities — (.1 ) — — (.1 ) Total fixed maturities, available for sale 31.6 (2.1 ) — — 29.5 Equity securities - corporate securities 1.0 — — — 1.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (38.0 ) 39.0 — 15.1 16.1 The following table presents additional information about assets and liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the nine months ended September 30, 2015 (dollars in millions): September 30, 2015 Beginning balance as of December 31, 2014 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2015 Amount of total gains (losses) for the nine months ended September 30, 2015 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 365.9 $ (21.7 ) $ (2.2 ) $ (10.0 ) $ 21.0 $ (206.7 ) $ 146.3 $ — States and political subdivisions 35.5 — — — — (35.5 ) — — Asset-backed securities 59.2 10.0 — (.6 ) — (28.6 ) 40.0 — Commercial mortgage-backed securities 1.2 14.5 — (.1 ) — — 15.6 — Mortgage pass-through securities .4 (.3 ) — — — — .1 — Total fixed maturities, available for sale 462.2 2.5 (2.2 ) (10.7 ) 21.0 (270.8 ) 202.0 — Equity securities - corporate securities 28.0 2.9 — — — — 30.9 — Trading securities - commercial mortgage-backed securities 28.6 — — 1.5 — — 30.1 1.5 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (1,081.5 ) 6.1 (3.7 ) — — — (1,079.1 ) (3.7 ) _________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the nine months ended September 30, 2015 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 6.1 $ (27.8 ) $ — $ — $ (21.7 ) Asset-backed securities 11.0 (1.0 ) — — 10.0 Commercial mortgage-backed securities 14.5 — — — 14.5 Mortgage pass-through securities — (.3 ) — — (.3 ) Total fixed maturities, available for sale 31.6 (29.1 ) — — 2.5 Equity securities - corporate securities 2.9 — — — 2.9 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (101.4 ) 61.4 (2.3 ) 48.4 6.1 The following table presents additional information about assets and liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the three months ended September 30, 2014 (dollars in millions): September 30, 2014 Beginning balance as of June 30, 2014 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Ending balance as of September 30, 2014 Amount of total gains (losses) for the three months ended September 30, 2014 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 389.8 $ 6.6 $ — $ (.9 ) $ 37.5 $ (98.2 ) $ 334.8 $ — States and political subdivisions 28.7 — — — — (28.7 ) — — Asset-backed securities 52.7 (.1 ) — .2 9.5 — 62.3 — Collateralized debt obligations 14.2 — — — — (14.2 ) — — Commercial mortgage-backed securities — 1.1 — — — — 1.1 — Mortgage pass-through securities 1.3 (.2 ) — — — — 1.1 — Collateralized mortgage obligations .1 — — — — — .1 — Total fixed maturities, available for sale 486.8 7.4 — (.7 ) 47.0 (141.1 ) 399.4 — Equity securities - corporate securities 26.2 .9 — — — — 27.1 — Trading securities: Commercial mortgage-backed securities — — — (.4 ) 29.1 — 28.7 (.4 ) Collateralized mortgage obligations 5.9 — — .1 — — 6.0 .1 Total trading securities 5.9 — — (.3 ) 29.1 — 34.7 (.3 ) Investments held by variable interest entities - corporate securities — 3.0 — (.1 ) 1.0 — 3.9 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (980.3 ) (12.2 ) .3 — — — (992.2 ) .3 ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the three months ended September 30, 2014 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 15.7 $ (9.1 ) $ — $ — $ 6.6 Asset-backed securities 1.9 (2.0 ) — — (.1 ) Commercial mortgage-backed securities 1.1 — — — 1.1 Mortgage pass-through securities — (.2 ) — — (.2 ) Total fixed maturities, available for sale 18.7 (11.3 ) — — 7.4 Equity securities - corporate securities .9 — — — .9 Investments held by variable interest entities - corporate securities 3.0 — — — 3.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (29.2 ) 3.9 (.5 ) 13.6 (12.2 ) The following table presents additional information about assets and liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value for the nine months ended September 30, 2014 (dollars in millions): September 30, 2014 Beginning balance as of December 31, 2013 Purchases, sales, issuances and settlements, net (b) Total realized and unrealized gains (losses) included in net income Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss) Transfers into Level 3 (a) Transfers out of Level 3 (a) Assets of CLIC sold Ending balance as of September 30, 2014 Amount of total gains (losses) for the nine months ended September 30, 2014 included in our net income relating to assets and liabilities still held as of the reporting date Assets: Fixed maturities, available for sale: Corporate securities $ 359.6 $ 44.9 $ — $ 11.6 $ 52.7 $ (82.8 ) $ (51.2 ) $ 334.8 $ — States and political subdivisions — — — .1 2.1 — (2.2 ) — — Asset-backed securities 42.2 8.9 — 4.0 16.9 — (9.7 ) 62.3 — Collateralized debt obligations 246.7 — — — — (246.7 ) — — — Commercial mortgage-backed securities — 1.1 — — — — — 1.1 — Mortgage pass-through securities 1.6 (.5 ) — — — — — 1.1 — Collateralized mortgage obligations — (.1 ) — — .2 — — .1 — Total fixed maturities, available for sale 650.1 54.3 — 15.7 71.9 (329.5 ) (63.1 ) 399.4 — Equity securities - corporate securities 24.5 2.6 — — — — — 27.1 — Trading securities: Commercial mortgage-backed securities — 29.1 — (.4 ) — — — 28.7 (.4 ) Collateralized mortgage obligations — — — .2 5.8 — — 6.0 .2 Total trading securities — 29.1 — (.2 ) 5.8 — — 34.7 (.2 ) Investments held by variable interest entities - corporate securities — 3.0 — (.1 ) 1.0 — — 3.9 — Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (903.7 ) (62.0 ) (26.5 ) — — — — (992.2 ) (26.5 ) Other liabilities - embedded derivatives associated with modified coinsurance agreement (1.8 ) 1.8 — — — — — — — Total liabilities (905.5 ) (60.2 ) (26.5 ) — — — — (992.2 ) (26.5 ) ____________ (a) Transfers into Level 3 are the result of unobservable inputs utilized within valuation methodologies for assets that were previously valued using observable inputs. Transfers out of Level 3 are due to the use of observable inputs in valuation methodologies as well as the utilization of pricing service information for certain assets that the Company is able to validate. (b) Purchases, sales, issuances and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases and sales of fixed maturity and equity securities and changes to embedded derivative instruments related to insurance products resulting from the issuance of new contracts, or changes to existing contracts. The following summarizes such activity for the nine months ended September 30, 2014 (dollars in millions): Purchases Sales Issuances Settlements Purchases, sales, issuances and settlements, net Assets: Fixed maturities, available for sale: Corporate securities $ 47.7 $ (2.8 ) $ — $ — $ 44.9 Asset-backed securities 11.8 (2.9 ) — — 8.9 Commercial mortgage-backed securities 1.1 — — — 1.1 Mortgage pass-through securities 1.1 (1.6 ) — — (.5 ) Collateralized mortgage obligations — (.1 ) — — (.1 ) Total fixed maturities, available for sale 61.7 (7.4 ) — — 54.3 Equity securities - corporate securities 2.6 — — — 2.6 Trading securities - commercial mortgage-backed securities 29.1 — — — 29.1 Investments held by variable interest entities - corporate securities 3.0 — — — 3.0 Liabilities: Future policy benefits - embedded derivatives associated with fixed index annuity products (86.9 ) 7.5 (25.1 ) 42.5 (62.0 ) Other liabilities - embedded derivatives associated with modified coinsurance agreement — 3.4 (1.6 ) — 1.8 Total liabilities (86.9 ) 10.9 (26.7 ) 42.5 (60.2 )
Schedule of fair value measurement inputs	The following table provides additional information about the significant unobservable (Level 3) inputs developed internally by the Company to determine fair value for certain assets and liabilities carried at fair value at September 30, 2015 (dollars in millions): Fair value at September 30, 2015 Valuation techniques Unobservable inputs Range (weighted average) Assets: Corporate securities (a) $ 58.2 Discounted cash flow analysis Discount margins 1.65% - 10.14% (4.88%) Asset-backed securities (b) 29.5 Discounted cash flow analysis Discount margins 2.40% - 4.45% (3.29%) Equity security (c) 30.9 Market approach Projected cash flows Not applicable Other assets categorized as Level 3 (d) 144.4 Unadjusted third-party price source Not applicable Not applicable Total 263.0 Liabilities: Future policy benefits (e) 1,079.1 Discounted projected embedded derivatives Projected portfolio yields 5.15% - 5.61% (5.42%) Discount rates 0.00% - 3.07% (1.64%) Surrender rates 1.98% - 47.88% (14.16%) ________________________________ (a) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) fair value measurement. (b) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) fair value measurement. (c) Equity security - This equity security represents an investment in a company that is constructing a manufacturing facility. The significant unobservable input is the cash flows that will be generated upon completion of the manufacturing facility. Given the nature of this investment, the best current indicator of value is the cost basis of the investment, which we believe approximates market value. (d) Other assets categorized as Level 3 - For these assets, there were no adjustments to quoted market prices obtained from third-party pricing sources. (e) Future policy benefits - The significant unobservable inputs used in the fair value measurement of our embedded derivatives associated with fixed index annuity products are projected portfolio yields, discount rates and surrender rates. Increases (decreases) in projected portfolio yields in isolation would lead to a higher (lower) fair value measurement. The discount rate is based on the Treasury rate adjusted by a margin. Increases (decreases) in the discount rates would lead to a lower (higher) fair value measurement. Assumed surrender rates are used to project how long the contracts remain in force. Generally, the longer the contracts are assumed to be in force the higher the fair value of the embedded derivative. The following table provides additional information about the significant unobservable (Level 3) inputs developed internally by the Company to determine fair value for certain assets and liabilities carried at fair value at December 31, 2014 (dollars in millions): Fair value at December 31, 2014 Valuation techniques Unobservable inputs Range (weighted average) Assets: Corporate securities (a) $ 312.1 Discounted cash flow analysis Discount margins 1.48% - 5.83% (2.58%) Asset-backed securities (b) 30.6 Discounted cash flow analysis Discount margins 1.99% - 4.15% (2.95%) Equity security (c) 28.0 Market approach Projected cash flows Not applicable Other assets categorized as Level 3 (d) 148.1 Unadjusted third-party price source Not applicable Not applicable Total 518.8 Liabilities: Future policy benefits (e) 1,081.5 Discounted projected embedded derivatives Projected portfolio yields 5.15% - 5.61% (5.42%) Discount rates 0.00 - 2.74% (1.78%) Surrender rates 1.98% - 47.88% (14.16%) ________________________________ (a) Corporate securities - The significant unobservable input used in the fair value measurement of our corporate securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) fair value measurement. (b) Asset-backed securities - The significant unobservable input used in the fair value measurement of these asset-backed securities is discount margin added to a riskless market yield. Significant increases (decreases) in discount margin in isolation would result in a significantly lower (higher) fair value measurement. (c) Equity security - This equity security represents an investment in a company that is constructing a manufacturing facility. The significant unobservable input is the cash flows that will be generated upon completion of the manufacturing facility. Given the nature of this investment, the best current indicator of value is the cost basis of the investment, which we believe approximates market value. (d) Other assets categorized as Level 3 - For these assets, there were no adjustments to quoted market prices obtained from third-party pricing sources. (e) Future policy benefits - The significant unobservable inputs used in the fair value measurement of our embedded derivatives associated with fixed index annuity products are projected portfolio yields, discount rates and surrender rates. Increases (decreases) in projected portfolio yields in isolation would lead to a higher (lower) fair value measurement. The discount rate is based on the Treasury rate adjusted by a margin. Increases (decreases) in the discount rates would lead to a lower (higher) fair value measurement. Assumed surrender rates are used to project how long the contracts remain in force. Generally, the longer the contracts are assumed to be in force the higher the fair value of the embedded derivative.

BUSINESS AND BASIS OF PRESENT38

BUSINESS AND BASIS OF PRESENTATION (Details)	9 Months Ended
	Sep. 30, 2015distribution_channel
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of distribution channels	3

INVESTMENTS - NARRATIVE (Detail

INVESTMENTS - NARRATIVE (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)investment	Dec. 31, 2014USD ($)
Schedule of Available-for-sale Securities [Line Items]
Premium deficiencies adjustments to present value of future profits	$ (115)		$ (115)
Reduction to deferred acquisition costs due to unrealized gains that would result in premium deficiency if unrealized gains were realized	(139.7)		(139.7)
Adjustment to insurance liabilities	(127.9)		(127.9)		$ (381.4)
Increase to deferred tax assets due to unrealized gains that would result in premium deficiency if unrealized gains were realized	135.9		135.9
Net realized investment gains (losses)	(19.6)	$ 4	(20.8)	$ 39.8
Net realized investment gains (losses), excluding impairment losses	(7.2)	6.8	(10.5)	54.5
Gain on dissolution of a variable interest entity	0	0	11.3	0
Total other-than-temporary impairment losses	(15.4)	(2.8)	(24.6)	(14.7)
Other-than-temporary impairment losses recognized in accumulated other comprehensive income	3	0	3	0
Total other-than-temporary impairment losses	(12.4)	(2.8)	(21.6)	$ (14.7)
Value of available for sale securities sold			416.7
Number of legacy private company investments | investment				2
Other-than-temporary impairments included in accumulated other comprehensive income			5.9
Embedded Derivative Related to Reinsurance Contract [Member]
Schedule of Available-for-sale Securities [Line Items]
Increase in fair value of embedded derivative				$ 6.1
Marketable securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses), excluding impairment losses			(6.2)	48.4
Total fixed maturities, available for sale [Member]
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)	(14.2)	5.7	(10.2)	43.6
Other-than-temporary impairment losses recognized in accumulated other comprehensive income	3	0	3	0
Total other-than-temporary impairment losses	(11.1)	0	(12.4)	0
Gross realized losses on sale	(27.8)	(2.6)	(48.7)	(11.1)
Corporate securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross realized losses on sale			(47.9)
Mortgage-backed and Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Loss related to the sales of asset-backed securities			0.8
Commercial bank loans held by VIEs [Member]
Schedule of Available-for-sale Securities [Line Items]
Total other-than-temporary impairment losses			(3.6)
Available-for-sale securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total other-than-temporary impairment losses			(2.7)
Legacy private company investments [Domain]
Schedule of Available-for-sale Securities [Line Items]
Total other-than-temporary impairment losses			(7.9)	(10.8)
Commercial mortgage loans [Member]
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)	0	(1.2)	(2.3)	(0.1)
Total other-than-temporary impairment losses				(3.9)
Coinsurance [Member] | Embedded Derivative Related to Reinsurance Contract [Member]
Schedule of Available-for-sale Securities [Line Items]
Decrease in fair value of embedded derivatives			4.3
Impairment of mortgage loans and other investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Total other-than-temporary impairment losses				(14.7)
Total other-than-temporary impairment losses	$ (4.3)	$ (2.8)	(12.2)	$ (14.7)
Energy Sector [Member] | Fixed Income Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Total other-than-temporary impairment losses			(7.4)
Gross realized losses on sale			$ (29.3)

INVESTMENTS - SCHEDULE OF UNREA

INVESTMENTS - SCHEDULE OF UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS INCLUDED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Net unrealized appreciation (depreciation) on fixed maturity securities, available for sale, on which an other-than-temporary impairment loss has been recognized	$ 3.1	$ 5.3
Net unrealized gains on all other investments	1,346.3	2,207.7
Adjustment to present value of future profits	(132.5)	(149.9)
Adjustment to deferred acquisition costs	(290.7)	(390.5)
Adjustment to insurance liabilities	(127.9)	(381.4)
Unrecognized net loss related to deferred compensation plan	(4.8)	(8.5)
Deferred income tax liabilities	(283.1)	(457.4)
Accumulated other comprehensive income	$ 510.4	$ 825.3

INVESTMENTS - SCHEDULE OF AMORT

INVESTMENTS - SCHEDULE OF AMORTIZED COST, GROSS UNREALIZED GAINS AND LOSSES, ESTIMATED FAIR VALUE, AND OTHER-THAN-TEMPORARY IMPAIRMENTS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 18,772.7	$ 18,408.1
Other-than-temporary impairments included in accumulated other comprehensive income	(5.9)
Corporate securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	12,280
Gross unrealized gains	1,159
Gross unrealized losses	(241.2)
Estimated fair value	13,197.8
Other-than-temporary impairments included in accumulated other comprehensive income	0
United States Treasury securities and obligations of United States government corporations and agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	137.4
Gross unrealized gains	25.5
Gross unrealized losses	0
Estimated fair value	162.9
Other-than-temporary impairments included in accumulated other comprehensive income	0
States and political subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,024.7
Gross unrealized gains	241.2
Gross unrealized losses	(6.5)
Estimated fair value	2,259.4
Other-than-temporary impairments included in accumulated other comprehensive income	(3)
Debt securities issued by foreign governments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	16.7
Gross unrealized gains	0
Gross unrealized losses	(0.2)
Estimated fair value	16.5
Other-than-temporary impairments included in accumulated other comprehensive income	0
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,438.4
Gross unrealized gains	66.1
Gross unrealized losses	(4.9)
Estimated fair value	1,499.6
Other-than-temporary impairments included in accumulated other comprehensive income	0
Collateralized debt obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	361.2
Gross unrealized gains	1.4
Gross unrealized losses	(1.2)
Estimated fair value	361.4
Other-than-temporary impairments included in accumulated other comprehensive income	0
Commercial mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,464.9
Gross unrealized gains	60.4
Gross unrealized losses	(6.7)
Estimated fair value	1,518.6
Other-than-temporary impairments included in accumulated other comprehensive income	0
Mortgage pass-through securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	3.2
Gross unrealized gains	0.3
Gross unrealized losses	0
Estimated fair value	3.5
Other-than-temporary impairments included in accumulated other comprehensive income	0
Collateralized mortgage obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,046.2
Gross unrealized gains	79.6
Gross unrealized losses	(1)
Estimated fair value	1,124.8
Other-than-temporary impairments included in accumulated other comprehensive income	(2.9)
Total fixed maturities, available for sale [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	18,772.7
Gross unrealized gains	1,633.5
Gross unrealized losses	(261.7)
Estimated fair value	20,144.5
Other-than-temporary impairments included in accumulated other comprehensive income	(5.9)
Equity securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	429.7
Gross unrealized gains	12.1
Gross unrealized losses	(4.5)
Estimated fair value	$ 437.3

INVESTMENTS - SUMMARY OF INVEST

INVESTMENTS - SUMMARY OF INVESTMENTS BY CONTRACTUAL MATURITY (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Amortized cost
Due in one year or less	$ 225.6
Due after one year through five years	2,211.1
Due after five years through ten years	1,872.4
Due after ten years	10,149.7
Subtotal	14,458.8
Structured securities	4,313.9
Amortized cost	18,772.7	$ 18,408.1
Estimated fair value
Due in one year or less	230
Due after one year through five years	2,383.1
Due after five years through ten years	1,979.7
Due after ten years	11,043.8
Subtotal	15,636.6
Structured securities	4,507.9
Total fixed maturities, available for sale	$ 20,144.5	$ 20,634.9

INVESTMENTS - NET REALIZED INVE

INVESTMENTS - NET REALIZED INVESTMENT GAINS (LOSSES) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Gain (Loss) on Investments [Line Items]
Total other-than-temporary impairment losses	$ (12.4)	$ (2.8)	$ (21.6)	$ (14.7)
Other-than-temporary impairment losses recognized in accumulated other comprehensive income	3	0	3	0
Total realized gains (losses)	(19.6)	4	(20.8)	39.8
Gain on dissolution of a variable interest entity	0	0	11.3	0
Total fixed maturities, available for sale [Member]
Gain (Loss) on Investments [Line Items]
Gross realized gains on sale	21.7	8.3	47.9	54.7
Gross realized losses on sale	(27.8)	(2.6)	(48.7)	(11.1)
Total other-than-temporary impairment losses	(11.1)	0	(12.4)	0
Other-than-temporary impairment losses recognized in accumulated other comprehensive income	3	0	3	0
Net impairment losses recognized	(8.1)	0	(9.4)	0
Total realized gains (losses)	(14.2)	5.7	(10.2)	43.6
Equity securities [Member]
Gain (Loss) on Investments [Line Items]
Total realized gains (losses)	0	1.9	3	9.8
Commercial mortgage loans [Member]
Gain (Loss) on Investments [Line Items]
Total realized gains (losses)	0	(1.2)	(2.3)	(0.1)
Other Member]
Gain (Loss) on Investments [Line Items]
Total realized gains (losses)	(1.1)	0.4	(10.4)	1.2
Investments [Member]
Gain (Loss) on Investments [Line Items]
Change in estimated fair value of trading securities			(4.7)	6.3
Impairment of mortgage loans and other investments [Member]
Gain (Loss) on Investments [Line Items]
Total other-than-temporary impairment losses	$ (4.3)	$ (2.8)	$ (12.2)	$ (14.7)

INVESTMENTS - SCHEDULE OF OTHER

INVESTMENTS - SCHEDULE OF OTHER THAN TEMPORARY IMPAIRMENT (Details) - Available-for-sale securities [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Credit losses on fixed maturity securities, available for sale, beginning of period	$ (1)	$ (1.2)	$ (1)	$ (1.3)
Add: credit losses on other-than-temporary impairments not previously recognized	(2)	0	(2)	0
Less: credit losses on securities sold	0.1	0.1	0.1	0.2
Less: credit losses on securities impaired due to intent to sell	0	0	0	0
Add: credit losses on previously impaired securities	0	0	0	0
Less: increases in cash flows expected on previously impaired securities	0	0	0	0
Credit losses on fixed maturity securities, available for sale, end of period	$ (2.9)	$ (1.1)	$ (2.9)	$ (1.1)

INVESTMENTS - SUMMARY OF INVE45

INVESTMENTS - SUMMARY OF INVESTMENTS WITH UNREALIZED LOSSES BY INVESTMENT CATEGORY (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	$ 3,168.8	$ 1,411.9
Unrealized losses, less than 12 months	(191.2)	(72.3)
Fair value, 12 months or longer	488.1	439.2
Unrealized losses, 12 months or longer	(70.5)	(24.5)
Fair value, total	3,656.9	1,851.1
Unrealized losses, total	(261.7)	(96.8)
United States Treasury securities and obligations of United States government corporations and agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months		12.1
Unrealized losses, less than 12 months		(0.1)
Fair value, 12 months or longer		4.6
Unrealized losses, 12 months or longer		0
Fair value, total		16.7
Unrealized losses, total		(0.1)
States and political subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	101.8	13.2
Unrealized losses, less than 12 months	(3.4)	(0.3)
Fair value, 12 months or longer	16.8	44.5
Unrealized losses, 12 months or longer	(3.1)	(2.7)
Fair value, total	118.6	57.7
Unrealized losses, total	(6.5)	(3)
Debt securities issued by foreign governments [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	16.5
Unrealized losses, less than 12 months	(0.2)
Fair value, 12 months or longer	0
Unrealized losses, 12 months or longer	0
Fair value, total	16.5
Unrealized losses, total	(0.2)
Corporate securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	2,275.1	985
Unrealized losses, less than 12 months	(175.7)	(65.9)
Fair value, 12 months or longer	270.1	297.5
Unrealized losses, 12 months or longer	(65.5)	(19.2)
Fair value, total	2,545.2	1,282.5
Unrealized losses, total	(241.2)	(85.1)
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	352	91.2
Unrealized losses, less than 12 months	(4)	(1.3)
Fair value, 12 months or longer	63	60.5
Unrealized losses, 12 months or longer	(0.9)	(2.1)
Fair value, total	415	151.7
Unrealized losses, total	(4.9)	(3.4)
Collateralized debt obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	86.8	184.2
Unrealized losses, less than 12 months	(0.6)	(3.4)
Fair value, 12 months or longer	91.1	0
Unrealized losses, 12 months or longer	(0.6)	0
Fair value, total	177.9	184.2
Unrealized losses, total	(1.2)	(3.4)
Commercial mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	287	46.7
Unrealized losses, less than 12 months	(6.7)	(0.5)
Fair value, 12 months or longer	8.9	0
Unrealized losses, 12 months or longer	0	0
Fair value, total	295.9	46.7
Unrealized losses, total	(6.7)	(0.5)
Mortgage pass-through securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	0	0.5
Unrealized losses, less than 12 months	0	0
Fair value, 12 months or longer	0.2	0.1
Unrealized losses, 12 months or longer	0	0
Fair value, total	0.2	0.6
Unrealized losses, total	0	0
Collateralized mortgage obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	49.6	79
Unrealized losses, less than 12 months	(0.6)	(0.8)
Fair value, 12 months or longer	38	32
Unrealized losses, 12 months or longer	(0.4)	(0.5)
Fair value, total	87.6	111
Unrealized losses, total	(1)	(1.3)
Equity securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value, less than 12 months	123.5	13.2
Unrealized losses, less than 12 months	(4.1)	(0.6)
Fair value, 12 months or longer	2.4	0.5
Unrealized losses, 12 months or longer	(0.4)	0
Fair value, total	125.9	13.7
Unrealized losses, total	$ (4.5)	$ (0.6)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Net income (loss) for basic and diluted earnings per share	$ 33.8	$ 117.4	$ 133.4	$ (32.5)
Shares:
Weighted average shares outstanding for basic earnings per share (in shares)	190,260	210,525	195,536	215,790
Effect of dilutive securities on weighted average shares
Stock options, restricted stock and performance units (in shares)	2,105	2,447	2,035	0
Warrants (in shares)	0	2,486	0	0
Weighted average shares outstanding for diluted earnings per share (in shares)	192,365	215,458	197,571	215,790
Antidilutive securities excluded from EPS calculation (in shares)				5,435
Stock Compensation Plan [Member]
Effect of dilutive securities on weighted average shares
Antidilutive securities excluded from EPS calculation (in shares)				2,458
Warrant [Member]
Effect of dilutive securities on weighted average shares
Antidilutive securities excluded from EPS calculation (in shares)				2,977

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Fee revenue and other income	$ 12.9	$ 16	$ 44.7	$ 29.4
Total revenues	909.3	947.2	2,815.4	2,867.5
Expenses:
Insurance policy benefits	582.1	565.5	1,756.4	1,946.9
Other operating costs and expenses	190.3	191.5	570.4	587.1
Total expenses	821.5	827.4	2,540.8	2,547
Pre-tax operating earnings	87.8	119.8	274.6	320.5
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues	909.3	947.2	2,815.4	2,867.5
Net realized investment gains (losses)	(19.6)	4	(32.1)	37
Revenues related to certain non-strategic investments and earnings attributable to VIEs	9.8	8.3	39	21.9
Fee revenue related to transition and support services agreements	5	7.5	20	7.5
Revenues of CLIC prior to being sold	0	0	0	210.8
Total revenues	904.5	967	2,842.3	3,144.7
Total segment expenses	821.5	827.4	2,540.8	2,547
Insurance policy benefits - fair value changes in embedded derivative liabilities	20.5	0	3.4	25.3
Amortization related to fair value changes in embedded derivative liabilities	(4.8)	0.1	(0.7)	(6.8)
Amortization related to net realized investment gains	(0.6)	0.1	(0.5)	0.6
Expenses related to certain non-strategic investments and expenses attributable to VIEs	10.1	10.9	32.6	30.7
Fair value changes related to agent deferred compensation plan	0	0	0	11.8
Loss on extinguishment or modification of debt	0	0	32.8	0.6
Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses	0	(32.1)	9	242.7
Expenses related to transition and support services agreements	5.4	6.2	17.5	6.2
Expenses of CLIC prior to being sold	0	0	0	187.4
Total benefits and expenses	852.1	812.6	2,634.9	3,045.5
Income before income taxes	52.4	154.4	207.4	99.2
Tax expense on period income	18.6	53.8	74	133.1
Valuation allowance for deferred tax assets and other tax items	0	(16.8)	0	(1.4)
Net income (loss)	33.8	117.4	133.4	(32.5)
Bankers Life [Member]
Revenues:
Annuities	5.2	6.6	17	21.8
Health	311.6	319.4	940.5	970.4
Life	95.7	90.4	281.6	248.6
Net investment income	196.3	231.2	648	703.2
Fee revenue and other income	7	7	19.8	18.1
Total revenues	615.8	654.6	1,906.9	1,962.1
Expenses:
Insurance policy benefits	386.1	394.9	1,202.1	1,237.8
Amortization	44.1	47.1	143.4	140.7
Interest expense on investment borrowings	2.2	2	6.4	5.8
Other operating costs and expenses	103.6	98.8	306.6	294.4
Total expenses	536	542.8	1,658.5	1,678.7
Pre-tax operating earnings	79.8	111.8	248.4	283.4
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues	615.8	654.6	1,906.9	1,962.1
Total segment expenses	536	542.8	1,658.5	1,678.7
Washington National [Member]
Revenues:
Annuities	0.7	0.9	2.3	3.3
Health	155	147.1	459.9	444.8
Life	6.4	6	19	18.2
Net investment income	58.4	65.2	187.1	206
Fee revenue and other income	0.3	0.3	1	0.7
Total revenues	220.8	219.5	669.3	673
Expenses:
Insurance policy benefits	129.8	129.5	408.8	394.1
Amortization	13.5	14.8	42.5	47.1
Interest expense on investment borrowings	0.5	0.4	1.4	1.3
Other operating costs and expenses	46.4	47.2	137.4	139.5
Total expenses	190.2	191.9	590.1	582
Pre-tax operating earnings	30.6	27.6	79.2	91
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues	220.8	219.5	669.3	673
Total segment expenses	190.2	191.9	590.1	582
Colonial Penn [Member]
Revenues:
Health	0.7	0.8	2.3	2.7
Life	65.3	60.9	194.6	181.2
Net investment income	10.5	10.3	32	31.5
Fee revenue and other income	0.2	0.2	0.7	0.7
Total revenues	76.7	72.2	229.6	216.1
Expenses:
Insurance policy benefits	45.7	41.1	142.1	129
Amortization	3.6	3.7	10.9	11.5
Other operating costs and expenses	26.8	27	77.7	77.6
Total expenses	76.1	71.8	230.7	218.1
Pre-tax operating earnings	0.6	0.4	(1.1)	(2)
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues	76.7	72.2	229.6	216.1
Total segment expenses	76.1	71.8	230.7	218.1
Corporate operations [Member]
Revenues:
Net investment income	(6.1)	(1)	3.4	11.7
Fee revenue and other income	2.1	1.9	6.2	4.6
Total revenues	(4)	0.9	9.6	16.3
Expenses:
Interest expense on corporate debt	11.3	10.9	33.7	33.1
Interest expense on investment borrowings	0.1	0	0.2	0
Other operating costs and expenses	7.8	10	27.6	35.1
Total expenses	19.2	20.9	61.5	68.2
Pre-tax operating earnings	(23.2)	(20)	(51.9)	(51.9)
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Total segment revenues	(4)	0.9	9.6	16.3
Total segment expenses	$ 19.2	$ 20.9	$ 61.5	$ 68.2

ACCOUNTING FOR DERIVATIVES - FA

ACCOUNTING FOR DERIVATIVES - FAIR VALUE BY BALANCE SHEET LOCATION (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Equity Contract [Member]
Derivatives, Fair Value [Line Items]
Assets	$ 28.7	$ 107.2
Interest Rate Futures [Member]
Derivatives, Fair Value [Line Items]
Assets	(0.5)	(0.2)
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Assets	25.9	109
Liabilities	1,079.1	1,081.5
Not Designated as Hedging Instrument [Member] | Equity Contract [Member] | Other Invested Assets [Member]
Derivatives, Fair Value [Line Items]
Assets	28.7	107.2
Not Designated as Hedging Instrument [Member] | Interest Rate Futures [Member] | Other Invested Assets [Member]
Derivatives, Fair Value [Line Items]
Assets	(0.5)	(0.2)
Not Designated as Hedging Instrument [Member] | Reinsurance Receivables - Embedded Derivative [Member] | Other Invested Assets [Member]
Derivatives, Fair Value [Line Items]
Assets	(2.3)	2
Not Designated as Hedging Instrument [Member] | Equity Index Annuities - Embedded Derivative [Member] | Future Policy Benefits [Member]
Derivatives, Fair Value [Line Items]
Liabilities	$ 1,079.1	$ 1,081.5

ACCOUNTING FOR DERIVATIVES - SC

ACCOUNTING FOR DERIVATIVES - SCHEDULE PRE-TAX GAINS (LOSSES) RECOGNIZED IN NET INCOME FOR DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (57)	$ 5.8	$ (53.4)	$ 9.7
Investment Income [Member]
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(34.2)	5.6	(42.2)	40.9
Investment Income [Member] | Fixed Index Call Options [Member]
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(34.2)	5.6	(42.2)	42.3
Investment Income [Member] | Embedded Derivative Related to Reinsurance Contract [Member]
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	0	0	(1.4)
Gain (Loss) on Investments [Member]
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(1.6)	(0.1)	(7.5)	(4.7)
Gain (Loss) on Investments [Member] | Interest Rate Futures [Member]
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(1.6)	(0.1)	(3.2)	(4.7)
Insurance Policy Benefits [Member] | Embedded Derivative Related to Reinsurance Contract [Member]
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(21.2)	0.3	(3.7)	(26.5)
Coinsurance [Member] | Gain (Loss) on Investments [Member] | Embedded Derivative Related to Reinsurance Contract [Member]
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 0	$ 0	$ (4.3)	$ 0

ACCOUNTING FOR DERIVATIVES - DE

ACCOUNTING FOR DERIVATIVES - DERIVATIVES WITH MASTER NETTING ARRANGEMENTS (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Gross amounts recognized	$ 20.4	$ 20.4
Gross amounts offset in the balance sheet	0	0
Net amounts of liabilities presented in the balance sheet	20.4	20.4
Financial instruments	20.4	20.4
Cash collateral received	0	0
Net amount	0	0
Fair value of collateralized investment securities	25.4	25.3
Equity Contract [Member]
Derivative [Line Items]
Gross amounts recognized	28.7	107.2
Gross amounts offset in the balance sheet	0	0
Net amounts of assets presented in the balance sheet	28.7	107.2
Financial instruments	0	0
Cash collateral received	0	0
Net amount	28.7	107.2
Interest Rate Futures [Member]
Derivative [Line Items]
Gross amounts recognized	(0.5)	(0.2)
Gross amounts offset in the balance sheet	1	1.5
Net amounts of assets presented in the balance sheet	0.5	1.3
Financial instruments	0	0
Cash collateral received	0	0
Net amount	$ 0.5	$ 1.3

ACCOUNTING FOR DERIVATIVES (Det

ACCOUNTING FOR DERIVATIVES (Details) $ in Millions	Sep. 30, 2015USD ($)
Equity Contract [Member]
Derivative [Line Items]
Notional amount	$ 2,400
Embedded Derivative Associated With Modified Coinsurance Agreement [Member]
Derivative [Line Items]
Embedded derivative	$ 149

REINSURANCE (Details)

REINSURANCE (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Ceded premiums written	$ 33.1	$ 34.1			$ 100.3	$ 141.6
Ceded insurance policy benefits	37.3	35.1			130.5	155.9
Assumed premiums written	$ 9.6	$ 10			$ 29.4	$ 24.7
Gain related to reinsurance transaction			$ 3.8
Coventry health care marketing and quota share agreements [Member]
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Assumed premiums written				$ 6.8

INCOME TAXES - COMPONENTS OF TA

INCOME TAXES - COMPONENTS OF TAX EXPENSE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Current tax expense	$ 3.5	$ 5.4	$ 9.7	$ 11.5
Deferred tax expense	17.2	48.4	66.2	121.6
Valuation allowance applicable to current year income	0	(3)	0	(3)
Income tax expense calculated based on estimated annual effective tax rate	20.7	50.8	75.9	130.1
Tax expense related to the sale of CLIC	0	0	0	19.4
Valuation allowance reduction related to the increase in projected future taxable income	0	(12.6)	0	(12.6)
Other items	(2.1)	(1.2)	(1.9)	(5.2)
Total income tax expense	$ 18.6	$ 37	$ 74	$ 131.7

INCOME TAXES - RECONCILIATION O

INCOME TAXES - RECONCILIATION OF CORPORATE TAX RATE (Details)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
U.S. statutory corporate rate	35.00%	35.00%
Valuation allowance	0.00%	(0.70%)
Non-taxable income and nondeductible benefits, net	(0.20%)	(0.80%)
State taxes	1.80%	1.50%
Estimated annual effective tax rate	36.60%	35.00%

INCOME TAXES - DEFERRED ASSETS

INCOME TAXES - DEFERRED ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Deferred tax assets:
Net federal operating loss carryforwards	$ 967.1	$ 1,048.4
Net state operating loss carryforwards	14.6	15.2
Tax credits	52.2	47.2
Capital loss carryforwards	14.9	0
Investments	30.9	59.7
Insurance liabilities	602.2	585.9
Other	63.1	67.3
Gross deferred tax assets	1,745	1,823.7
Deferred tax liabilities:
Present value of future profits and deferred acquisition costs	(307)	(320.5)
Accumulated other comprehensive income	(282.3)	(457.4)
Gross deferred tax liabilities	(589.3)	(777.9)
Net deferred tax assets before valuation allowance	1,155.7	1,045.8
Valuation allowance	(246)	(246)
Net deferred tax assets	909.7	799.8
Current income taxes accrued	(47.4)	(41.1)
Income tax assets, net	$ 862.3	$ 758.7

INCOME TAXES - NET OPERATING LO

INCOME TAXES - NET OPERATING LOSSES (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Operating Loss Carryforwards [Line Items]
Total loss carryforwards	$ 3,303.6
Total loss carryforwards, unrecognized tax benefit	(540.3)
Total loss carryforwards, net of unrecognized tax benefits	2,763.3
Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	645.8
Net operating loss carryforward, unrecognized tax benefit	(342.9)
Net operating loss carryforwards, net of unrecognized tax benefits	302.9
Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	2,657.8
Net operating loss carryforward, unrecognized tax benefit	(197.4)
Net operating loss carryforwards, net of unrecognized tax benefits	$ 2,460.4
Carryforward Expiration 2023 [Member]
Operating Loss Carryforwards [Line Items]
Year of expiration	Dec. 31, 2023
Total loss carryforwards	$ 2,605.5
Carryforward Expiration 2023 [Member] | Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	645.8
Carryforward Expiration 2023 [Member] | Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 1,959.7
Carryforward Expiration 2025 [Member]
Operating Loss Carryforwards [Line Items]
Year of expiration	Dec. 31, 2025
Total loss carryforwards	$ 91.5
Carryforward Expiration 2025 [Member] | Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0
Carryforward Expiration 2025 [Member] | Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 91.5
Carryforward Expiration 2026 [Member]
Operating Loss Carryforwards [Line Items]
Year of expiration	Dec. 31, 2026
Total loss carryforwards	$ 207.4
Carryforward Expiration 2026 [Member] | Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0
Carryforward Expiration 2026 [Member] | Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 207.4
Carryforward Expiration 2027 [Member]
Operating Loss Carryforwards [Line Items]
Year of expiration	Dec. 31, 2027
Total loss carryforwards	$ 4.9
Carryforward Expiration 2027 [Member] | Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0
Carryforward Expiration 2027 [Member] | Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 4.9
Carryforward Expiration 2028 [Member]
Operating Loss Carryforwards [Line Items]
Year of expiration	Dec. 31, 2028
Total loss carryforwards	$ 203.7
Carryforward Expiration 2028 [Member] | Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0
Carryforward Expiration 2028 [Member] | Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 203.7
Carryforward Expiration 2029 [Member]
Operating Loss Carryforwards [Line Items]
Year of expiration	Dec. 31, 2029
Total loss carryforwards	$ 146.6
Carryforward Expiration 2029 [Member] | Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0
Carryforward Expiration 2029 [Member] | Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 146.6
Carryforward Expiration 2032 [Member]
Operating Loss Carryforwards [Line Items]
Year of expiration	Dec. 31, 2032
Total loss carryforwards	$ 44
Carryforward Expiration 2032 [Member] | Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0
Carryforward Expiration 2032 [Member] | Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 44

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2008	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses	$ 0	$ (32.1)	$ 9	$ 242.7
Deferred tax assets more likely than not to be realized through future taxable earnings	909.7		909.7				$ 799.8
Deferred Tax Assets Before Valuation Allowance	1,155.7		1,155.7				1,045.8
Valuation allowance	$ 246		$ 246				246
Assumed period adjusted annual taxable income will remain flat			2 years
Aggregate Growth Rate for the Next Five Years, Included in Deferred Tax Valuation Analysis	3.00%		3.00%
Valuation allowance model, forecast period of Model			5 years
Estimated normalized annual taxable income for the current year			$ 335
Estimated Normalized Annual Taxable Income For Current Year, Non-life Taxable Income			65
Estimated Normalized Annual Taxable Income For Current Year, Life Income			$ 270
Loss limitation based on income of life insurance company, percent	35.00%		35.00%
Loss limitation based on loss of non-life entities, percent	35.00%		35.00%
Federal long-term tax exempt rate	2.82%		2.82%
Ownership change threshold restricting NOL usage	50.00%		50.00%
Capital Loss Carryforward	$ 42.5		$ 42.5
Net state operating loss carryforwards	14.6		14.6				$ 15.2
Loss on investment in senior health						$ 878
Income Tax Examination, Expired Capital Loss Carryforwards if IRS position is correct					$ 473
Unrecognized tax benefit related to loss on investment in Senior Health			166
Increase in valuation allowance if unrecognized tax benefit is recognized	34		$ 34
Future cash tax payments based on income of life insurance company, percent			65.00%
Internal Revenue Service [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	2,800		$ 2,800
Life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	645.8		645.8
Loss on investment in senior health						742
Non life insurance companies [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 2,657.8		$ 2,657.8
Loss on investment in senior health						$ 136
Conseco Life Insurance Company [Member]
Operating Loss Carryforwards [Line Items]
Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses				$ 272.6

NOTES PAYABLE - SCHEDULE OF LON

NOTES PAYABLE - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Millions	Sep. 30, 2015	May. 19, 2015	Dec. 31, 2014	Sep. 28, 2012
Debt Instruments [Abstract]
Direct corporate obligations	$ 925		$ 794.4
Previous Senior Secured Credit Agreement [Member]
Debt Instruments [Abstract]
Direct corporate obligations	0		522.1
Unamortized Discount	0		(2.7)
Senior notes [Member] | 4.500% Senior Notes due May 2020 [Member]
Debt Instruments [Abstract]
Direct corporate obligations	325		0
Interest rate		4.50%
Senior notes [Member] | 5.250% Senior Notes due May 2025 [Member]
Debt Instruments [Abstract]
Direct corporate obligations	500		0
Interest rate		5.25%
Senior notes [Member] | 6.375% Senior Secured Notes due October 2020 [Member]
Debt Instruments [Abstract]
Direct corporate obligations	0		275
Interest rate				6.375%
New Revolving Credit Agreement [Member] | Line of credit [Member]
Debt Instruments [Abstract]
Direct corporate obligations	$ 100		$ 0

NOTES PAYABLE - NEW NOTES (Deta

NOTES PAYABLE - NEW NOTES (Details) - USD ($)	May. 19, 2015	Sep. 30, 2015	Dec. 31, 2014	Sep. 28, 2012
Debt Instrument [Line Items]
Notes payable - direct corporate obligations		$ 925,000,000	$ 794,400,000
4.500% Senior Notes due May 2020 [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 325,000,000
Notes payable - direct corporate obligations		325,000,000	0
Interest rate	4.50%
5.250% Senior Notes due May 2025 [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000,000
Notes payable - direct corporate obligations		500,000,000	0
Interest rate	5.25%
6.375% Senior Secured Notes due October 2020 [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Notes payable - direct corporate obligations		0	275,000,000
Interest rate				6.375%
New Revolving Credit Agreement [Member] | Line of credit [Member]
Debt Instrument [Line Items]
Notes payable - direct corporate obligations		$ 100,000,000	$ 0
Maximum borrowing capacity	$ 150,000,000
Debt instrument term	4 years
On and After February 28, 2025 [Member] | 5.250% Senior Notes due May 2025 [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Redemption price, percent	100.00%
Change of Control Repurchase Event [Member] | 5.250% Senior Notes due May 2025 [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Redemption price, percent	101.00%

NOTES PAYABLE - NEW REVOLVING C

NOTES PAYABLE - NEW REVOLVING CREDIT AGREEMENT (Details) - Line of credit [Member]	May. 19, 2015USD ($)	Sep. 30, 2015USD ($)
New Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Initial drawing amount	$ 100,000,000
Remaining borrowing capacity	50,000,000
Maximum borrowing capacity	150,000,000
Potential additional borrowing capacity	$ 50,000,000
Interest rate on amounts outstanding at period end		2.22%
Fronting fee as a percent of aggregate face amount of letters of credit outstanding	0.125%
Debt covenant, required minimum debt to total capitalization ratio	0.3
Debt covenant, actual debt to total capitalization ratio at period end		0.204
Debt covenant, minimum required aggregate total adjusted capital to company action level risk-based capital ratio	2.50
Debt covenant, actual aggregate total adjusted capital to company action level risk-based capital ratio at period end		4.40
Debt covenant, minimum required consolidated net worth, component one, amount	$ 2,674,000,000
Debt covenant, minimum required consolidated net worth, component two, as a percent of net equity proceeds received from issuance and sale of equity interests	0.50
Debt covenant, actual consolidated net worth at period end		$ 3,660,600,000
Debt covenant, required minimum consolidated net worth, amount		$ 2,676,000,000
New Revolving Credit Agreement [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
New Revolving Credit Agreement [Member] | One-Month Eurodollar [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
New Revolving Credit Agreement [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Bridge Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000

NOTES PAYABLE - PREVIOUS SENIOR

NOTES PAYABLE - PREVIOUS SENIOR SECURED CREDIT AGREEMENT AND 6.375% NOTES (Details) - USD ($) $ in Millions	May. 19, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 28, 2012
Debt Instrument [Line Items]
Sources of cash, notes payable	$ 925			$ 909	$ 0
Uses of cash, repayments of notes payable				797.1	43.1
Uses of cash, accrued interest				53.5	59.7
Total uses of cash from debt refinancing transactions	925
Loss on extinguishment or modification of debt		$ 0	$ 0	(32.8)	$ (0.6)
6.375% Senior Secured Notes due October 2020 [Member]
Debt Instrument [Line Items]
Uses of cash, repayments of notes payable	292.8
Senior Secured Notes and 6.375 Percent Senior Notes [Member]
Debt Instrument [Line Items]
Uses of cash, accrued interest	4.3
Senior Debt Obligations [Member]
Debt Instrument [Line Items]
Uses of cash, repayments of notes payable	502.3
Senior Notes and Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Uses of cash, debt issuance costs	16
Uses of cash, general corporate purposes	109.6
Senior notes [Member]
Debt Instrument [Line Items]
Sources of cash, notes payable	825
Senior notes [Member] | 6.375% Senior Secured Notes due October 2020 [Member]
Debt Instrument [Line Items]
Interest rate						6.375%
New Revolving Credit Agreement [Member] | Line of credit [Member]
Debt Instrument [Line Items]
Sources of cash, notes payable	$ 100
Secured Debt [Member] | Line of credit [Member] | Previous Senior Secured Credit Agreement [Member]
Debt Instrument [Line Items]
Additional debt repayment				$ 19.8

NOTES PAYABLE - DIRECT CORPOR62

NOTES PAYABLE - DIRECT CORPORATE OBLIGATIONS NOTES PAYABLE - SCHEDULED REPAYMENT (Details) $ in Millions	Sep. 30, 2015USD ($)
Debt Disclosure [Abstract]
2,016	$ 0
2,017	0
2,018	0
2,019	100
2,020	325
Thereafter	500
Long-term Debt	$ 925

INVESTMENT BORROWINGS (Details)

INVESTMENT BORROWINGS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 1,543.7		$ 1,519.2
Repurchase agreement borrowings	20.4
Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Federal Home Loan Bank stock	73.2
Investment borrowings	1,523.3
Federal Home Loan Bank, Advances, collateral pledged	1,800
Aggregate Fee to Prepay All Fixed Rate FHLB Borrowings	2.6
Interest Expense on FHLB Borrowings	7.8	$ 16.2
Borrowings due October 2016 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Maturity date	Oct. 31, 2016
Interest rate	0.464%
Borrowings due November 2016 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Nov. 30, 2016
Interest rate	0.604%
Borrowings due June 2017 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 57.7
Maturity date	Jun. 30, 2017
Interest rate	0.629%
Borrowings due August 2017 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Aug. 31, 2017
Interest rate	0.521%
Borrowings due August 2017 rate two [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 75
Maturity date	Aug. 31, 2017
Interest rate	0.479%
Borrowings due October 2017 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Maturity date	Oct. 31, 2017
Interest rate	0.719%
Borrowings due November 2017 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Nov. 30, 2017
Interest rate	0.842%
Borrowings due January 2018 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Jan. 31, 2018
Interest rate	0.636%
Borrowings due January 2018 rate two [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Jan. 31, 2018
Interest rate	0.634%
Borrowings due February 2018 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Feb. 28, 2018
Interest rate	0.621%
Borrowings due February 2018 rate two [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Feb. 28, 2018
Interest rate	0.411%
Borrowings due February 2018 rate three [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 22
Maturity date	Feb. 28, 2018
Interest rate	0.655%
Borrowings due May 2018 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Maturity date	May 30, 2018
Interest rate	0.644%
Borrowings due July 2018 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Jul. 31, 2018
Interest rate	0.764%
Borrowings due August 2018 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Aug. 31, 2018
Interest rate	0.441%
Borrowings due January 2019 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Jan. 31, 2019
Interest rate	0.709%
Borrowings due February 2019 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Feb. 28, 2019
Interest rate	0.411%
Borrowings due March 2019 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Maturity date	Mar. 31, 2019
Interest rate	0.687%
Borrowings due July 2019 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 21.8
Maturity date	Jul. 31, 2019
Interest rate	0.706%
Borrowing Due May 2020 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	May 31, 2020
Interest rate	0.727%
Borrowings due June 2020 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 21.8
Maturity date	Jun. 30, 2020
Interest rate	1.96%
Borrowings due September 2020 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 25
Maturity date	Sep. 30, 2020
Interest rate	0.951%
Borrowings due September 2020 rate two [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 100
Maturity date	Sep. 30, 2020
Interest rate	0.854%
Borrowings due September 2020 rate three [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 50
Maturity date	Sep. 30, 2020
Interest rate	0.854%
Borrowings due September 2020 rate four [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 75
Maturity date	Sep. 30, 2020
Interest rate	0.447%
Borrowings Due August 2021 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 28.2
Maturity date	Aug. 31, 2021
Interest rate	2.55%
Borrowings due March 2023 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 26.3
Maturity date	Mar. 31, 2023
Interest rate	2.16%
Borrowings due June 2025 [Member] | Federal Home Loan Bank advances [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Investment borrowings	$ 20.5
Maturity date	Jun. 30, 2025
Interest rate	2.94%

CHANGES IN COMMON STOCK (Detail

CHANGES IN COMMON STOCK (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	9 Months Ended
	Oct. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Number of common shares outstanding
Balance, beginning of year (in shares)	186,741,760		203,324,458	203,324,458
Balance, end of year (in shares)				186,741,760
Number of stock tendered for payment of federal and state taxes owed (in shares)				236,000
Payments for Repurchase of Common Stock				$ 311.2
Stock Repurchased and Retired During Period, Value				311.2	$ 301.5
Stock repurchase program, remaining repurchase authorized amount				109.7
Common stock dividends declared				$ 39	$ 39
Dividends (in dollars per share)		$ 0.07	$ 0.06	$ 0.20
Common stock [Member]
Number of common shares outstanding
Balance, beginning of year (in shares)	186,742,000		203,324,000	203,324,000
Treasury stock purchased and retired (in shares)				(17,765,000)
Balance, end of year (in shares)				186,742,000
Common stock [Member] | Stock options [Member]
Number of common shares outstanding
Shares issued under employee benefit compensation plans (in shares)				669,000
Common stock [Member] | Restricted and Performance Stock [Member]
Number of common shares outstanding
Shares issued under employee benefit compensation plans (in shares)				514,000
Subsequent Event [Member] | Securities Repurchase Program [Member] | Common stock [Member]
Number of common shares outstanding
Stock Repurchased and Retired During Period, Value	$ 5

SALES INDUCEMENTS (Details)

SALES INDUCEMENTS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Deferred Sales Inducements [Abstract]
Deferred sales inducements	$ 2.8	$ 4
Deferred sales inducements, amortization expense	10.1	$ 13
Unamortized deferred sales inducements	60.1		$ 67.4
Insurance liabilities for persistency bonus benefits	$ 1		$ 1.5

LITIGATION AND OTHER LEGAL PR66

LITIGATION AND OTHER LEGAL PROCEEDINGS (Details)	9 Months Ended
	Sep. 30, 2015state
Commitments and Contingencies Disclosure [Abstract]
Number of states participating in examination of compliance with unclaimed property laws	38

CONSOLIDATED STATEMENT OF CAS67

CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)		$ 33.8	$ 117.4	$ 133.4	$ (32.5)
Adjustments to reconcile net income to net cash from operating activities:
Amortization and depreciation				213.3	218.2
Income taxes				70.7	128.9
Insurance liabilities				237.9	228.9
Accrual and amortization of investment income				(15.8)	(112.3)
Deferral of policy acquisition costs				(181.9)	(176.6)
Net realized investment (gains) losses				20.8	(39.8)
Payment to reinsurer pursuant to long-term care business reinsured				0	(590.3)
Net loss on sale of subsidiary, gain on reinsurance transactions and transition expenses		0	(32.1)	9	242.7
Loss on extinguishment or modification of debt		$ 0	$ 0	32.8	0.6
Other				15.1	8.3
Net cash from operating activities	[1]			$ 535.3	$ (123.9)
[1]	Cash flows from operating activities reflect outflows in the 2014 period due to the payment to reinsurer to transfer certain long-term care business.

CONSOLIDATED STATEMENT OF CAS68

CONSOLIDATED STATEMENT OF CASH FLOWS - Schedule of other significant noncash transactions (Details) - USD ($) $ in Millions	Jul. 01, 2014	Sep. 30, 2015	Sep. 30, 2014
Effects of Reinsurance [Line Items]
Stock options, restricted stock and performance units		$ 12.9	$ 11.6
Bankers Life [Member] | Wilton Reassurance Company [Member]
Effects of Reinsurance [Line Items]
Gain on reinsurance transaction (classified as Loss on sale of subsidiary, gain on reinsurance transactions and transition expenses)	$ 26.1
Income tax expense	9.2
Gain on reinsurance transaction (net of income taxes)	16.9
Reinsurance recapture fee	28
Bankers Life [Member] | Investments [Member] | Wilton Reassurance Company [Member]
Effects of Reinsurance [Line Items]
Reinsurance recapture, gross	139.4
Bankers Life [Member] | Cash and Cash Equivalents [Member] | Wilton Reassurance Company [Member]
Effects of Reinsurance [Line Items]
Reinsurance recapture, gross	7.7
Bankers Life [Member] | Value of Business Acquired (VOBA) [Member] | Wilton Reassurance Company [Member]
Effects of Reinsurance [Line Items]
Reinsurance recapture, gross	29
Bankers Life [Member] | Reinsurance Receivables [Member] | Wilton Reassurance Company [Member]
Effects of Reinsurance [Line Items]
Reinsurance recapture, gross	(155.9)
Bankers Life [Member] | Other Liabilities [Member] | Wilton Reassurance Company [Member]
Effects of Reinsurance [Line Items]
Reinsurance recapture, gross	$ 5.9

OUT-OF-PERIOD ADJUSTMENTS (Deta

OUT-OF-PERIOD ADJUSTMENTS (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other operating costs and expenses	$ 190.3	$ 191.5	$ 570.4	$ 587.1
Tax expense on period income	18.6	53.8	74	133.1
Net income (loss)	$ 33.8	$ 117.4	$ 133.4	$ (32.5)
Net income (loss) per diluted share (in dollars per share)	$ 0.18	$ 0.54	$ 0.68	$ (0.15)
Out of period adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other operating costs and expenses				$ 2.4
Tax expense on period income				0.8
Net income (loss)				$ (1.6)
Net income (loss) per diluted share (in dollars per share)				$ (0.01)

INVESTMENTS IN VARIABLE INTER70

INVESTMENTS IN VARIABLE INTEREST ENTITIES - NARRATIVE (Details) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)variable_interest_entity	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Variable Interest Entity [Line Items]
Variable interest entity amortized cost securities held	$ 1,518.4
Variable interest entity, gross unrealized gains fixed maturity securities	1.3
Variable interest entity gross unrealized losses fixed maturity securities	31.6
Estimated fair value of fixed maturity securities	1,488.1
Variable interest entities net realized gain (loss) on investments	(4.3)	$ (2.2)
Variable interest entities, write-downs of investments for other than temporary declines in fair value recognized through net income	(3.6)
Variable interest entities, investments sold	47.3	38.7
Variable interest entity, gross investment losses from sale	$ (1.1)	$ 2.4
Number of investments sold at a loss | variable_interest_entity	8
Investments held in limited partnerships	$ 67
Unfunded commitments to limited partnerships	64.4
Less than twelve months [Member]
Variable Interest Entity [Line Items]
Fair value investments held by variable interest entity that had been in an unrealized loss position	816.9		$ 1,053.2
Gross unrealized losses in an unrealized loss position for a period	(9.4)		(27.3)
Greater than twelve months [Member]
Variable Interest Entity [Line Items]
Fair value investments held by variable interest entity that had been in an unrealized loss position	339.5		167.4
Gross unrealized losses in an unrealized loss position for a period	(22.2)		$ (4.2)
Continuous Unrealized Position Exceeding 20% of the Amortized Cost Basis for Less Than Six Months [Member]
Variable Interest Entity [Line Items]
Variable interest entity amortized cost securities held	13
Estimated fair value of fixed maturity securities	$ 12.3
Minimum [Member]
Variable Interest Entity [Line Items]
Loss as a percent of amortized cost basis for less than six months prior to sale	20.00%
Fixed Income Investments [Member]
Variable Interest Entity [Line Items]
Variable interest entities net realized gain (loss) on investments	$ (0.7)

INVESTMENTS IN VARIABLE INTER71

INVESTMENTS IN VARIABLE INTEREST ENTITIES - BALANCE SHEET ITEMS (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Variable Interest Entity [Line Items]
Investments held by variable interest entities	$ 1,488.1	$ 1,367.1
Cash and cash equivalents held by variable interest entities	106.9	68.3
Borrowings related to variable interest entities	1,442.3	1,286.1
VIEs [Member]
Variable Interest Entity [Line Items]
Investments held by variable interest entities	1,488.1	1,367.1
Notes receivable of VIEs held by insurance subsidiaries	0	0
Cash and cash equivalents held by variable interest entities	106.9	68.3
Accrued investment income	3.2	3.2
Income tax assets, net	14.8	18.1
Other assets	17.8	14.2
Total assets	1,630.8	1,470.9
Other liabilities	46.3	61.2
Borrowings related to variable interest entities	1,442.3	1,286.1
Notes payable of VIEs held by insurance subsidiaries	169.8	157.3
Total liabilities	1,658.4	1,504.6
Eliminations [Member]
Variable Interest Entity [Line Items]
Investments held by variable interest entities	0	0
Notes receivable of VIEs held by insurance subsidiaries	(168.7)	(153.3)
Cash and cash equivalents held by variable interest entities	0	0
Accrued investment income	0	0
Income tax assets, net	(1.4)	(2.9)
Other assets	(3.5)	(1.7)
Total assets	(173.6)	(157.9)
Other liabilities	(6.6)	(6.1)
Borrowings related to variable interest entities	0	0
Notes payable of VIEs held by insurance subsidiaries	(169.8)	(157.3)
Total liabilities	(176.4)	(163.4)
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Investments held by variable interest entities	1,488.1	1,367.1
Notes receivable of VIEs held by insurance subsidiaries	(168.7)	(153.3)
Cash and cash equivalents held by variable interest entities	106.9	68.3
Accrued investment income	3.2	3.2
Income tax assets, net	13.4	15.2
Other assets	14.3	12.5
Total assets	1,457.2	1,313
Other liabilities	39.7	55.1
Borrowings related to variable interest entities	1,442.3	1,286.1
Notes payable of VIEs held by insurance subsidiaries	0	0
Total liabilities	$ 1,482	$ 1,341.2

INVESTMENTS IN VARIABLE INTER72

INVESTMENTS IN VARIABLE INTEREST ENTITIES - SCHEDULE OF VIEs (Details) $ in Millions	Sep. 30, 2015USD ($)
Investment Holdings [Line Items]
Total amortized cost	$ 1,518.4
Total fair value	1,488.1
Amortized cost [Member]
Investment Holdings [Line Items]
Due in one year or less	12.6
Due after one year through five years	630.8
Due after five years through ten years	875
Total amortized cost	1,518.4
Estimated fair value [Member]
Investment Holdings [Line Items]
Due in one year or less	12.6
Due after one year through five years	616.4
Due after five years through ten years	859.1
Total fair value	$ 1,488.1

FAIR VALUE MEASUREMENTS - MEASU

FAIR VALUE MEASUREMENTS - MEASUREMENTS BY INPUT LEVEL (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	$ 20,144.5	$ 20,634.9
Trading securities	257.5	244.9
Investments held by variable interest entities - corporate securities	1,488.1	1,367.1
Assets held in separate accounts	5	5.6
Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	3.2	3.5
Investments held by variable interest entities - corporate securities	0	0
Assets held in separate accounts	0	0
Total assets carried at fair value by category	237.8	221.8
Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	224.2	212.8
Investments held by variable interest entities - corporate securities	1,488.1	1,367.1
Assets held in separate accounts	5	5.6
Total assets carried at fair value by category	21,860.9	22,039.5
Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	30.1	28.6
Investments held by variable interest entities - corporate securities	0	0
Assets held in separate accounts	0	0
Total assets carried at fair value by category	263	518.8
Corporate securities [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Equity securities - corporate securities	234	216.9
Trading securities	0	0
Corporate securities [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	13,051.5	13,605.1
Equity securities - corporate securities	172.4	174.1
Trading securities	21.8	24.3
Corporate securities [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	146.3	365.9
Equity securities - corporate securities	30.9	28
Trading securities	0	0
United States Treasury securities and obligations of United States government corporations and agencies [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities	0	0
United States Treasury securities and obligations of United States government corporations and agencies [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	162.9	168.9
Trading securities	2.7	3.7
United States Treasury securities and obligations of United States government corporations and agencies [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities	0	0
States and political subdivisions [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
States and political subdivisions [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	2,259.4	2,242.2
States and political subdivisions [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	35.5
Debt securities issued by foreign governments [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Debt securities issued by foreign governments [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	16.5	1.9
Debt securities issued by foreign governments [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Asset-backed securities [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities	0	0
Asset-backed securities [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	1,459.6	1,209.8
Trading securities	21.7	24
Asset-backed securities [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	40	59.2
Trading securities	0	0
Collateralized debt obligations [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities	0
Collateralized debt obligations [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	361.4	324.5
Trading securities	2.4
Collateralized debt obligations [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities	0
Commercial mortgage-backed securities [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities	0	0
Commercial mortgage-backed securities [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	1,503	1,275.1
Trading securities	149.9	131
Commercial mortgage-backed securities [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	15.6	1.2
Trading securities	30.1	28.6
Mortgage pass-through securities [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities		0
Mortgage pass-through securities [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	3.4	4.2
Trading securities		0.1
Mortgage pass-through securities [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0.1	0.4
Trading securities		0
Collateralized mortgage obligations [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities	0	0
Collateralized mortgage obligations [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	1,124.8	1,341
Trading securities	25.7	29.7
Collateralized mortgage obligations [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Trading securities	0	0
Total fixed maturities, available for sale [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	0	0
Total fixed maturities, available for sale [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	19,942.5	20,172.7
Total fixed maturities, available for sale [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	202	462.2
Equity securities [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	3.2	3.5
Equity securities [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	0	0
Equity securities [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	0	0
Derivatives [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets - derivatives	0.6	1.4
Derivatives [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets - derivatives	28.7	107.2
Derivatives [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets - derivatives	0	0
Embedded derivatives associated with fixed index annuity products [Member] | Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Future policy benefits - embedded derivatives associated with fixed index annuity products	0	0
Embedded derivatives associated with fixed index annuity products [Member] | Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Future policy benefits - embedded derivatives associated with fixed index annuity products	0	0
Embedded derivatives associated with fixed index annuity products [Member] | Level 3 [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Future policy benefits - embedded derivatives associated with fixed index annuity products	1,079.1	1,081.5
Estimate of fair value measurement [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	257.5	244.9
Investments held by variable interest entities - corporate securities	1,488.1	1,367.1
Assets held in separate accounts	5	5.6
Total assets carried at fair value by category	22,361.7	22,780.1
Estimate of fair value measurement [Member] | Corporate securities [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	13,197.8	13,971
Equity securities - corporate securities	437.3	419
Trading securities	21.8	24.3
Estimate of fair value measurement [Member] | United States Treasury securities and obligations of United States government corporations and agencies [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	162.9	168.9
Trading securities	2.7	3.7
Estimate of fair value measurement [Member] | States and political subdivisions [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	2,259.4	2,277.7
Estimate of fair value measurement [Member] | Debt securities issued by foreign governments [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	16.5	1.9
Estimate of fair value measurement [Member] | Asset-backed securities [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	1,499.6	1,269
Trading securities	21.7	24
Estimate of fair value measurement [Member] | Collateralized debt obligations [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	361.4	324.5
Trading securities	2.4
Estimate of fair value measurement [Member] | Commercial mortgage-backed securities [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	1,518.6	1,276.3
Trading securities	180	159.6
Estimate of fair value measurement [Member] | Mortgage pass-through securities [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	3.5	4.6
Trading securities		0.1
Estimate of fair value measurement [Member] | Collateralized mortgage obligations [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	1,124.8	1,341
Trading securities	25.7	29.7
Estimate of fair value measurement [Member] | Total fixed maturities, available for sale [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturities, available for sale	20,144.5	20,634.9
Estimate of fair value measurement [Member] | Equity securities [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	3.2	3.5
Estimate of fair value measurement [Member] | Derivatives [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other invested assets - derivatives	29.3	108.6
Estimate of fair value measurement [Member] | Embedded derivatives associated with fixed index annuity products [Member] | Fair value, measurements, recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Future policy benefits - embedded derivatives associated with fixed index annuity products	$ 1,079.1	$ 1,081.5

FAIR VALUE MEASUREMENTS - RECUR

FAIR VALUE MEASUREMENTS - RECURRING BASIS (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents - unrestricted	$ 613.8	$ 611.6	$ 452.1	$ 699
Cash and cash equivalents held by variable interest entities	106.9	68.3
Fair value, measurements, recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	1,712.6	1,691.9
Policy loans	109.5	106.9
Company-owned life insurance	153.9	157.6
Alternative investment funds	101	102.8
Cash and cash equivalents - unrestricted	613.8	611.6
Cash and cash equivalents held by variable interest entities	106.9	68.3
Policyholder account balances	10,728	10,707.2
Investment borrowings	1,543.7	1,519.2
Borrowings related to variable interest entities	1,442.3	1,286.1
Notes payable – direct corporate obligations	925	794.4
Fair value, measurements, recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	0	0
Policy loans	0	0
Company-owned life insurance	0	0
Alternative investment funds	0	0
Cash and cash equivalents - unrestricted	453.8	549.6
Cash and cash equivalents held by variable interest entities	106.9	68.3
Policyholder account balances	0	0
Investment borrowings	0	0
Borrowings related to variable interest entities	0	0
Notes payable – direct corporate obligations	0	0
Fair value, measurements, recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	0	0
Policy loans	0	0
Company-owned life insurance	153.9	157.6
Alternative investment funds	101	102.8
Cash and cash equivalents - unrestricted	160	62
Cash and cash equivalents held by variable interest entities	0	0
Policyholder account balances	0	0
Investment borrowings	1,546.3	1,520.4
Borrowings related to variable interest entities	1,433.6	1,229.2
Notes payable – direct corporate obligations	941.9	807.4
Fair value, measurements, recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	1,801.2	1,768.9
Policy loans	109.5	106.9
Company-owned life insurance	0	0
Alternative investment funds	0	0
Cash and cash equivalents - unrestricted	0	0
Cash and cash equivalents held by variable interest entities	0	0
Policyholder account balances	10,728	10,707.2
Investment borrowings	0	0
Borrowings related to variable interest entities	0	0
Notes payable – direct corporate obligations	0	0
Estimate of fair value measurement [Member] | Fair value, measurements, recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	1,801.2	1,768.9
Policy loans	109.5	106.9
Company-owned life insurance	153.9	157.6
Alternative investment funds	101	102.8
Cash and cash equivalents - unrestricted	613.8	611.6
Cash and cash equivalents held by variable interest entities	106.9	68.3
Policyholder account balances	10,728	10,707.2
Investment borrowings	1,546.3	1,520.4
Borrowings related to variable interest entities	1,433.6	1,229.2
Notes payable – direct corporate obligations	$ 941.9	$ 807.4

FAIR VALUE MEASUREMENTS - BALAN

FAIR VALUE MEASUREMENTS - BALANCE SHEET RECURRING (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Liabilities:
Fair value, measurement with unobservable inputs reconciliation, beginning balance				$ (905.5)
Purchases, sales, issuances and settlements, net				(60.2)
Total realized and unrealized gains (losses) included in net income				(26.5)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)				0
Transfers into level 3				0
Transfers out of level 3				0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance		$ (992.2)		(992.2)
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date				(26.5)
Available-for-sale securities [Member] | Corporate securities [Member]
Assets:
Purchases, sales, issuances and settlements, net	$ 4.6	6.6	$ (21.7)	44.9
Available-for-sale securities [Member] | Corporate securities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	133.7	389.8	365.9	359.6
Purchases, sales, issuances and settlements, net	4.6	6.6	(21.7)	44.9
Total realized and unrealized gains (losses) included in net income	0	0	(2.2)	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(3.8)	(0.9)	(10)	11.6
Transfers into level 3	11.8	37.5	21	52.7
Transfers out of level 3	0	(98.2)	(206.7)	(82.8)
Assets of CLIC sold				(51.2)
Fair value, measurement with unobservable inputs reconciliation, ending balance	146.3	334.8	146.3	334.8
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date	0	0	0	0
Available-for-sale securities [Member] | States and political subdivisions [Member]
Assets:
Assets of CLIC sold				(2.2)
Available-for-sale securities [Member] | States and political subdivisions [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		28.7	35.5	0
Purchases, sales, issuances and settlements, net		0	0	0
Total realized and unrealized gains (losses) included in net income		0	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		0	0	0.1
Transfers into level 3		0	0	2.1
Transfers out of level 3		(28.7)	(35.5)	0
Fair value, measurement with unobservable inputs reconciliation, ending balance	0	0	0	0
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date		0	0	0
Available-for-sale securities [Member] | Asset-backed Securities [Member]
Assets:
Purchases, sales, issuances and settlements, net	10.4	(0.1)	10	8.9
Available-for-sale securities [Member] | Asset-backed Securities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	53.3	52.7	59.2	42.2
Purchases, sales, issuances and settlements, net	10.4	(0.1)	10	8.9
Total realized and unrealized gains (losses) included in net income	0	0	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0.2	0.2	(0.6)	4
Transfers into level 3	0	9.5	0	16.9
Transfers out of level 3	(23.9)	0	(28.6)	0
Assets of CLIC sold				(9.7)
Fair value, measurement with unobservable inputs reconciliation, ending balance	40	62.3	40	62.3
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date	0	0	0	0
Available-for-sale securities [Member] | Collateralized debt obligations [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		14.2		246.7
Purchases, sales, issuances and settlements, net		0		0
Total realized and unrealized gains (losses) included in net income		0		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		0		0
Transfers into level 3		0		0
Transfers out of level 3		(14.2)		(246.7)
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance		0		0
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date		0		0
Available-for-sale securities [Member] | Commercial mortgage-backed securities [Member]
Assets:
Purchases, sales, issuances and settlements, net	14.6	1.1	14.5	1.1
Available-for-sale securities [Member] | Commercial mortgage-backed securities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	1.2	0	1.2	0
Purchases, sales, issuances and settlements, net	14.6	1.1	14.5	1.1
Total realized and unrealized gains (losses) included in net income	0	0	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(0.2)	0	(0.1)	0
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance	15.6	1.1	15.6	1.1
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date	0	0	0	0
Available-for-sale securities [Member] | Mortgage pass-through securities [Member]
Assets:
Purchases, sales, issuances and settlements, net	(0.1)	(0.2)	(0.3)	(0.5)
Available-for-sale securities [Member] | Mortgage pass-through securities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	0.2	1.3	0.4	1.6
Purchases, sales, issuances and settlements, net	(0.1)	(0.2)	(0.3)	(0.5)
Total realized and unrealized gains (losses) included in net income	0	0	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance	0.1	1.1	0.1	1.1
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date	0	0	0	0
Available-for-sale securities [Member] | Collateralized mortgage obligations [Member]
Assets:
Purchases, sales, issuances and settlements, net				(0.1)
Available-for-sale securities [Member] | Collateralized mortgage obligations [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		0.1		0
Purchases, sales, issuances and settlements, net		0		(0.1)
Total realized and unrealized gains (losses) included in net income		0		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		0		0
Transfers into level 3		0		0.2
Transfers out of level 3		0		0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance		0.1		0.1
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date		0		0
Available-for-sale securities [Member] | Total fixed maturities, available for sale [Member]
Assets:
Purchases, sales, issuances and settlements, net	29.5	7.4	2.5	54.3
Available-for-sale securities [Member] | Total fixed maturities, available for sale [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	188.4	486.8	462.2	650.1
Purchases, sales, issuances and settlements, net	29.5	7.4	2.5	54.3
Total realized and unrealized gains (losses) included in net income	0	0	(2.2)	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(3.8)	(0.7)	(10.7)	15.7
Transfers into level 3	11.8	47	21	71.9
Transfers out of level 3	(23.9)	(141.1)	(270.8)	(329.5)
Assets of CLIC sold				(63.1)
Fair value, measurement with unobservable inputs reconciliation, ending balance	202	399.4	202	399.4
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date	0	0	0	0
Equity securities classification [Member] | Corporate securities [Member]
Assets:
Purchases, sales, issuances and settlements, net	1	0.9	2.9	2.6
Equity securities classification [Member] | Corporate securities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	29.9	26.2	28	24.5
Purchases, sales, issuances and settlements, net	1	0.9	2.9	2.6
Total realized and unrealized gains (losses) included in net income	0	0	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance	30.9	27.1	30.9	27.1
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date	0	0	0	0
Equity securities classification [Member] | Asset-backed Securities [Member]
Assets:
Purchases, sales, issuances and settlements, net				29.1
Trading securities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		5.9		0
Purchases, sales, issuances and settlements, net		0		29.1
Total realized and unrealized gains (losses) included in net income		0		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		(0.3)		(0.2)
Transfers into level 3		29.1		5.8
Transfers out of level 3		0		0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance		34.7		34.7
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date		(0.3)		(0.2)
Investments held by variable interest entities [Member] | Corporate securities held by variable interest entities [Member]
Assets:
Purchases, sales, issuances and settlements, net		3		3
Investments held by variable interest entities [Member] | Corporate securities held by variable interest entities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		0		0
Purchases, sales, issuances and settlements, net		3		3
Total realized and unrealized gains (losses) included in net income		0		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		(0.1)		(0.1)
Transfers into level 3		1		1
Transfers out of level 3		0		0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance		3.9		3.9
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date		0		0
Collateralized mortgage obligations [Member] | Trading securities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance		5.9		0
Purchases, sales, issuances and settlements, net		0		0
Total realized and unrealized gains (losses) included in net income		0		0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)		0.1		0.2
Transfers into level 3		0		5.8
Transfers out of level 3		0		0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance		6		6
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date		0.1		0.2
Commercial mortgage-backed securities [Member] | Trading securities [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Assets:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	39.9	0	28.6	0
Purchases, sales, issuances and settlements, net	0	0	0	29.1
Total realized and unrealized gains (losses) included in net income	0	0	0	0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	(0.6)	(0.4)	1.5	(0.4)
Transfers into level 3	0	29.1	0	0
Transfers out of level 3	(9.2)	0	0	0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance	30.1	28.7	30.1	28.7
Liabilities:
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date	(0.6)	(0.4)	1.5	(0.4)
Interest sensitive products [Member]
Liabilities:
Purchases, sales, issuances and settlements, net	16.1	(12.2)	6.1	(62)
Interest sensitive products [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Liabilities:
Fair value, measurement with unobservable inputs reconciliation, beginning balance	(1,074)	(980.3)	(1,081.5)	(903.7)
Purchases, sales, issuances and settlements, net	16.1	(12.2)	6.1	(62)
Total realized and unrealized gains (losses) included in net income	(21.2)	0.3	(3.7)	(26.5)
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance	(1,079.1)	(992.2)	(1,079.1)	(992.2)
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date	$ (21.2)	0.3	$ (3.7)	(26.5)
Interest sensitive products, modified coinsurance agreement [Member]
Liabilities:
Purchases, sales, issuances and settlements, net				1.8
Interest sensitive products, modified coinsurance agreement [Member] | Fair value, measurements, recurring [Member] | Level 3 [Member]
Liabilities:
Fair value, measurement with unobservable inputs reconciliation, beginning balance				(1.8)
Purchases, sales, issuances and settlements, net				1.8
Total realized and unrealized gains (losses) included in net income				0
Total realized and unrealized gains (losses) included in accumulated other comprehensive income (loss)				0
Transfers into level 3				0
Transfers out of level 3				0
Assets of CLIC sold				0
Fair value, measurement with unobservable inputs reconciliation, ending balance		$ 0		0
Amount of total gains (losses) included in our net income relating to assets and liabilities still held as of the reporting date				$ 0

FAIR VALUE MEASUREMENTS - FAIR

FAIR VALUE MEASUREMENTS - FAIR VALUE ACTIVITY (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Liabilities:
Purchases				$ (86.9)
Sales				10.9
Issuances				(26.7)
Settlements				42.5
Purchases, sales, issuances and settlements, net				(60.2)
Corporate securities held by variable interest entities [Member] | Investments held by variable interest entities [Member]
Assets:
Purchases		$ 3		3
Sales		0		0
Issuances		0		0
Settlements		0		0
Purchases, sales, issuances and settlements, net		3		3
Commercial mortgage-backed securities [Member] | Available-for-sale securities [Member]
Assets:
Purchases	$ 14.6	1.1	$ 14.5	1.1
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	14.6	1.1	14.5	1.1
Corporate securities [Member] | Available-for-sale securities [Member]
Assets:
Purchases	6	15.7	6.1	47.7
Sales	(1.4)	(9.1)	(27.8)	(2.8)
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	4.6	6.6	(21.7)	44.9
Corporate securities [Member] | Equity securities classification [Member]
Assets:
Purchases	1	0.9	2.9	2.6
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	1	0.9	2.9	2.6
Asset-backed securities [Member] | Available-for-sale securities [Member]
Assets:
Purchases	11	1.9	11	11.8
Sales	(0.6)	(2)	(1)	(2.9)
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	10.4	(0.1)	10	8.9
Asset-backed securities [Member] | Equity securities classification [Member]
Assets:
Purchases				29.1
Sales				0
Issuances				0
Settlements				0
Purchases, sales, issuances and settlements, net				29.1
Mortgage pass-through securities [Member] | Available-for-sale securities [Member]
Assets:
Purchases	0	0	0	1.1
Sales	(0.1)	(0.2)	(0.3)	(1.6)
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	(0.1)	(0.2)	(0.3)	(0.5)
Total fixed maturities, available for sale [Member] | Available-for-sale securities [Member]
Assets:
Purchases	31.6	18.7	31.6	61.7
Sales	(2.1)	(11.3)	(29.1)	(7.4)
Issuances	0	0	0	0
Settlements	0	0	0	0
Purchases, sales, issuances and settlements, net	29.5	7.4	2.5	54.3
Collateralized mortgage obligations [Member] | Available-for-sale securities [Member]
Assets:
Purchases				0
Sales				(0.1)
Issuances				0
Settlements				0
Purchases, sales, issuances and settlements, net				(0.1)
Interest sensitive products [Member]
Liabilities:
Purchases	(38)	(29.2)	(101.4)	(86.9)
Sales	39	3.9	61.4	7.5
Issuances	0	(0.5)	(2.3)	(25.1)
Settlements	15.1	13.6	48.4	42.5
Purchases, sales, issuances and settlements, net	16.1	(12.2)	6.1	(62)
Interest sensitive products, modified coinsurance agreement [Member]
Liabilities:
Purchases				0
Sales				3.4
Issuances				(1.6)
Settlements				0
Purchases, sales, issuances and settlements, net				1.8
Fair value, measurements, recurring [Member] | Level 3 [Member] | Trading securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net		0		29.1
Fair value, measurements, recurring [Member] | Level 3 [Member] | Corporate securities held by variable interest entities [Member] | Investments held by variable interest entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net		3		3
Fair value, measurements, recurring [Member] | Level 3 [Member] | Commercial mortgage-backed securities [Member] | Available-for-sale securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net	14.6	1.1	14.5	1.1
Fair value, measurements, recurring [Member] | Level 3 [Member] | Corporate securities [Member] | Available-for-sale securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				51.2
Assets:
Purchases, sales, issuances and settlements, net	4.6	6.6	(21.7)	44.9
Fair value, measurements, recurring [Member] | Level 3 [Member] | Corporate securities [Member] | Equity securities classification [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net	1	0.9	2.9	2.6
Fair value, measurements, recurring [Member] | Level 3 [Member] | Asset-backed securities [Member] | Available-for-sale securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				9.7
Assets:
Purchases, sales, issuances and settlements, net	10.4	(0.1)	10	8.9
Fair value, measurements, recurring [Member] | Level 3 [Member] | Collateralized debt obligations [Member] | Available-for-sale securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net		0		0
Fair value, measurements, recurring [Member] | Level 3 [Member] | Mortgage pass-through securities [Member] | Available-for-sale securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net	(0.1)	(0.2)	(0.3)	(0.5)
Fair value, measurements, recurring [Member] | Level 3 [Member] | Total fixed maturities, available for sale [Member] | Available-for-sale securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				63.1
Assets:
Purchases, sales, issuances and settlements, net	29.5	7.4	2.5	54.3
Fair value, measurements, recurring [Member] | Level 3 [Member] | Collateralized mortgage obligations [Member] | Available-for-sale securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net		0		(0.1)
Fair value, measurements, recurring [Member] | Level 3 [Member] | Interest sensitive products [Member]
Liabilities:
Purchases, sales, issuances and settlements, net	16.1	(12.2)	6.1	(62)
Fair value, measurements, recurring [Member] | Level 3 [Member] | Interest sensitive products, modified coinsurance agreement [Member]
Liabilities:
Purchases, sales, issuances and settlements, net				1.8
Fair value, measurements, recurring [Member] | Level 3 [Member] | Commercial mortgage-backed securities [Member] | Trading securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net	$ 0	0	$ 0	29.1
Fair value, measurements, recurring [Member] | Level 3 [Member] | Collateralized mortgage obligations [Member] | Trading securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amounts classified as Assets of subsidiary being sold, assets				0
Assets:
Purchases, sales, issuances and settlements, net		$ 0		$ 0

FAIR VALUE MEASUREMENTS - FAI77

FAIR VALUE MEASUREMENTS - FAIR VALUE INPUTS (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 24,545.1	$ 24,908.3
Other invested assets	$ 395.6	$ 443.6
Level 3 [Member] | Interest sensitive products [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Weighted average projected portfolio yields	5.42%	5.42%
Weighted average discount rates	1.64%	1.78%
Weighted average surrender rates	14.16%	14.16%
Level 3 [Member] | Corporate securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Weighted average discount rate	4.88%	2.58%
Level 3 [Member] | Asset-backed securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Weighted average discount rate	3.29%	2.95%
Minimum [Member] | Level 3 [Member] | Interest sensitive products [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Projected portfolio yields	5.15%	5.15%
Discount rates	0.00%	0.00%
Surrender rates	1.98%	1.98%
Minimum [Member] | Level 3 [Member] | Corporate securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	1.65%	1.48%
Minimum [Member] | Level 3 [Member] | Asset-backed securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	2.40%	1.99%
Maximum [Member] | Level 3 [Member] | Interest sensitive products [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Projected portfolio yields	5.61%	5.61%
Discount rates	3.07%	2.74%
Surrender rates	47.88%	47.88%
Maximum [Member] | Level 3 [Member] | Corporate securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	10.14%	5.83%
Maximum [Member] | Level 3 [Member] | Asset-backed securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	4.45%	4.15%
Estimate of fair value measurement [Member] | Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 263	$ 518.8
Other invested assets	144.4	148.1
Estimate of fair value measurement [Member] | Level 3 [Member] | Interest sensitive products [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Policyholder account balances	1,079.1	1,081.5
Estimate of fair value measurement [Member] | Level 3 [Member] | Corporate securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	58.2	312.1
Estimate of fair value measurement [Member] | Level 3 [Member] | Asset-backed securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	29.5	30.6
Estimate of fair value measurement [Member] | Level 3 [Member] | Equity securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments	$ 30.9	$ 28

FAIR VALUE MEASUREMENTS - NARRA

FAIR VALUE MEASUREMENTS - NARRATIVE (Details)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair value of level 3 fixed maturity securities valued using broker quotes, percentage	49.00%
Available for sale fixed maturities classified as level 3, investment grade, percent	53.00%
Available for Sale Maturities with Significant Unobservable Inputs, Corporate Securities, Percent	72.00%