Primerica (PRI) 10-K 1 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 28, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	Primerica, Inc
Entity Central Index Key	0001475922
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	PRI
Amendment Flag	false
Entity Common Stock, Shares Outstanding		39,344,207
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 4,603,734,941
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity File Number	001-34680
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1204330
Entity Address, Address Line One	1 Primerica Parkway
Entity Address, City or Town	Duluth
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30099
City Area Code	770
Local Phone Number	381-1000
Documents Incorporated by Reference	Certain information contained in the Proxy Statement for the Company’s Annual Meeting of Stockholders to be held on May 12, 2021 is incorporated by reference into Part III hereof.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments:
Fixed-maturity securities available-for-sale, at fair value (amortized cost: $2,301,238 in 2020 and $2,274,770 in 2019)	$ 2,464,611	$ 2,356,996
Fixed-maturity security held-to-maturity, at amortized cost (fair value: $1,606,208 in 2020 and $1,299,102 in 2019)	1,346,350	1,184,370
Equity securities, at fair value (historical cost: $32,031 in 2020 and $32,671 in 2019)	38,023	40,684
Trading securities, at fair value (cost: $16,359 in 2020 and $43,257 in 2019)	16,300	43,233
Policy loans	30,199	32,927
Total investments	3,895,483	3,658,210
Cash and cash equivalents	547,569	256,876
Accrued investment income	17,618	17,361
Reinsurance recoverables	4,273,904	4,169,823
Deferred policy acquisition costs, net	2,629,644	2,325,750
Agent balances, due premiums and other receivables	259,448	227,100
Intangible assets, net	45,275	45,275
Income tax receivable	4,035	1,020
Deferred income taxes	69,255	69,472
Operating lease right-of-use assets	46,567	47,265
Other assets	456,967	384,634
Separate account assets	2,659,520	2,485,745
Total assets	14,905,285	13,688,531
Liabilities:
Future policy benefits	6,790,557	6,446,569
Unearned and advance premiums	17,136	15,470
Policy claims and other benefits payable	519,711	339,954
Other policyholders’ funds	447,765	388,663
Notes payable	374,415	374,037
Surplus note	1,345,772	1,183,728
Income tax payable	21,048	20,224
Deferred income taxes	202,448	188,997
Operating lease liabilities	52,806	53,487
Other liabilities	566,068	510,443
Payable under securities lending	72,154	28,723
Separate accounts liabilities	2,659,520	2,485,745
Commitments and contingent liabilities (see Commitments and Contingent Liabilities note)
Total liabilities	13,069,400	12,036,040
Stockholders’ equity:
Common stock ($0.01 par value; authorized 500,000 in 2020 and 2019; issued and outstanding 39,306 shares in 2020 and 41,207 shares in 2019)	393	412
Retained earnings	1,705,786	1,593,281
Accumulated other comprehensive income (loss), net of income tax:
Unrealized foreign currency translation gains (losses)	1,578	(5,765)
Net unrealized investment gains (losses) on available-for-sale securities	128,128	64,563
Total stockholders’ equity	1,835,885	1,652,491
Total liabilities and stockholders’ equity	$ 14,905,285	$ 13,688,531

Consolidated Balance Sheets Par

Consolidated Balance Sheets Parenthetical - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments:
Fixed-maturity securities available for sale, amortized cost	$ 2,301,238	$ 2,274,770
Fixed-maturity security held to maturity, fair value	1,606,208	1,299,102
Equity securities, at fair value, historical cost	32,031	32,671
Trading securities, amortized cost	$ 16,359	$ 43,257
Stockholders’ equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	39,306,000	41,207,000
Common stock, shares outstanding	39,306,000	41,207,000	42,694,000	44,251,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Direct premiums	$ 2,907,149	$ 2,753,866	$ 2,667,104
Ceded premiums	(1,580,766)	(1,569,729)	(1,581,164)
Net premiums	1,326,383	1,184,137	1,085,940
Commissions and fees	751,271	713,804	677,607
Investment income net of investment expenses	141,287	142,398	118,915
Interest expense on surplus note	(57,473)	(48,325)	(37,485)
Net investment income	83,814	94,073	81,430
Realized investment gains (losses)	(4,996)	4,965	(2,121)
Other, net	61,069	55,525	56,987
Revenues	2,217,541	2,052,504	1,899,843
Benefits and expenses:
Benefits and claims	615,569	493,820	457,583
Amortization of deferred policy acquisition costs	224,321	254,552	239,730
Sales commissions	376,636	357,198	335,384
Insurance expenses	188,117	178,817	168,156
Insurance commissions	32,134	25,051	24,490
Interest expense	28,839	28,811	28,809
Other operating expenses	245,195	237,144	229,607
Total benefits and expenses	1,710,811	1,575,393	1,483,759
Income before income taxes	506,730	477,111	416,084
Income taxes	120,566	110,720	91,990
Net income	$ 386,164	$ 366,391	$ 324,094
Earnings per share:
Basic earnings per share	$ 9.60	$ 8.65	$ 7.35
Diluted earnings per share	$ 9.57	$ 8.62	$ 7.33
Weighted-average shares used in computing earnings per share:
Basic	40,065	42,181	43,854
Diluted	40,185	42,314	43,985
Supplemental disclosures:
Total impairment losses	$ (4,254)	$ (1,333)	$ (152)
Net impairment losses recognized in earnings	(4,254)	(1,333)	(152)
Other net realized investment gains (losses)	1,693	1,091	487
Net gains (losses) recognized on equity securities	(2,435)	5,207	(2,456)
Net realized investment gains (losses)	$ (4,996)	$ 4,965	$ (2,121)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 386,164	$ 366,391	$ 324,094
Unrealized investment gains (losses) on available-for-sale securities:
Change in unrealized holding gains (losses) on investment securities	78,533	91,160	(59,661)
Reclassification adjustment for realized investment (gains) losses included in net income	2,614	253	(45)
Foreign currency translation adjustments:
Change in unrealized foreign currency translation gains (losses)	7,343	15,299	(25,059)
Total other comprehensive income (loss) before income taxes	88,490	106,712	(84,765)
Income tax expense (benefit) related to items of other comprehensive income (loss)	17,582	19,480	(12,690)
Other comprehensive income (loss), net of income taxes	70,908	87,232	(72,075)
Total comprehensive income	$ 457,072	$ 453,623	$ 252,019

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Accumulated Other Comprehensive Income (Loss) [Member]
Balance, beginning of period at Dec. 31, 2017		$ 443		$ 1,375,090	$ 43,568
Cumulative effect from the adoption of new accounting standards, net at Dec. 31, 2017						$ 24,610	$ 73
Repurchases of common stock		(21)	$ (26,702)	(190,134)
Share-based compensation			26,707
Net issuance of common stock		5	(5)
Net income	$ 324,094			324,094
Dividends				(44,140)
Change in foreign currency translation adjustment, net of income tax expense (benefit)					(25,059)
Change in net unrealized investment gains (losses)during the period, net of income taxes:					(47,016)
Balance, end of period at Dec. 31, 2018	$ 1,461,513	427		1,489,520	(28,434)
Dividends declared per share	$ 1
Repurchases of common stock		(19)	(27,204)	(205,000)
Share-based compensation			27,208
Net issuance of common stock		4	(4)
Net income	$ 366,391			366,391
Dividends				(57,630)
Change in foreign currency translation adjustment, net of income tax expense (benefit)					15,299
Change in net unrealized investment gains (losses)during the period, net of income taxes:					71,933
Balance, end of period at Dec. 31, 2019	$ 1,652,491	412		1,593,281	58,798
Dividends declared per share	$ 1.36
Cumulative effect from the adoption of new accounting standards, net at Dec. 31, 2019	$ 1,593,281					$ (1,240)
Repurchases of common stock	(231,400)	(22)	(29,076)	(208,073)
Share-based compensation			29,079
Net issuance of common stock		3	$ (3)
Net income	386,164			386,164
Dividends				(64,346)
Change in foreign currency translation adjustment, net of income tax expense (benefit)					7,343
Change in net unrealized investment gains (losses)during the period, net of income taxes:					63,565
Balance, end of period at Dec. 31, 2020	$ 1,835,885	$ 393		$ 1,705,786	$ 129,706
Dividends declared per share	$ 1.60

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 386,164	$ 366,391	$ 324,094
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Change in future policy benefits and other policy liabilities	574,060	297,832	266,513
Deferral of policy acquisition costs	(512,634)	(424,106)	(432,390)
Amortization of deferred policy acquisition costs	224,321	254,552	239,730
Deferred tax provision	266	(841)	2,590
Change in income taxes	(5,008)	(5,187)	2,365
Realized investment (gains) losses	4,996	(4,965)	2,121
Accretion and amortization of investments	751	(720)	(1,894)
Depreciation and amortization	17,697	18,300	12,417
Change in reinsurance recoverables	(100,185)	(12,825)	37,261
Change in agent balances, due premiums and other receivables	(32,348)	(11,965)	14,383
Trading securities sold, matured, or called (acquired), net	26,694	(29,601)	(8,808)
Share-based compensation	19,027	17,533	17,251
Change in other operating assets and liabilities, net	39,616	21,115	2,434
Net cash provided by (used in) operating activities	643,417	485,513	478,067
Available-for-sale investments sold, matured or called:
Fixed-maturity securities — sold	67,760	42,202	51,726
Fixed-maturity securities — matured or called	429,147	403,969	362,413
Short-term investments — matured or called		8,250
Equity securities — sold	2,581	3,136	2,093
Available-for-sale investments acquired:
Fixed-maturity securities	(522,123)	(633,106)	(626,826)
Short-term investments			(8,169)
Equity securities — acquired	(3,272)	(898)	(521)
Purchases of property and equipment and other investing activities, net	(27,622)	(25,437)	(13,517)
Cash collateral received (returned) on loaned securities, net	43,431	(23,839)	(37,224)
Sales (purchases) of short-term investments using securities lending collateral, net	(43,431)	23,839	37,224
Net cash provided by (used in) investing activities	(53,529)	(201,884)	(232,801)
Cash flows from financing activities:
Dividends paid	(64,346)	(57,630)	(44,140)
Common stock repurchased	(231,431)	(225,037)	(210,146)
Tax withholdings on share-based compensation	(5,739)	(7,186)	(6,711)
Finance leases	(274)	(281)
Net cash provided by (used in) financing activities	(301,790)	(290,134)	(260,997)
Effect of foreign exchange rate changes on cash	2,595	1,243	(2,093)
Change in cash and cash equivalents	290,693	(5,262)	(17,824)
Cash and cash equivalents, beginning of period	256,876	262,138	279,962
Cash and cash equivalents, end of period	547,569	256,876	262,138
Supplemental disclosures of cash flow information:
Income taxes paid	123,305	115,051	88,348
Interest paid	$ 27,853	$ 28,053	$ 27,899

Description of Business, Basis

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies	(1) Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies Description of Business. Primerica, Inc. (the “Parent Company”), together with its subsidiaries (collectively, “we”, “us” or the “Company”), is a leading provider of financial products to middle-income households in the United States and Canada through a network of independent contractor sales representatives (“sales representatives” or “sales force”). We assist our clients in meeting their needs for term life insurance, which we underwrite, and mutual funds, annuities, managed investments and other financial products, which we distribute primarily on behalf of third parties. Our primary subsidiaries include the following entities: Primerica Financial Services, LLC (“PFS”), a general agency and marketing company; Primerica Life Insurance Company (“Primerica Life”), our principal life insurance company; Primerica Financial Services (Canada) Ltd., a holding company for our Canadian operations, which includes Primerica Life Insurance Company of Canada (“Primerica Life Canada”) and PFSL Investments Canada Ltd. (“PFSL Investments Canada”); and PFS Investments Inc. (“PFS Investments”), an investment products company and broker-dealer. Primerica Life, domiciled in Tennessee, owns National Benefit Life Insurance Company (“NBLIC”), a New York insurance company. Peach Re, Inc. (“Peach Re”) and Vidalia Re, Inc. (“Vidalia Re”) are special purpose financial captive insurance companies and wholly owned subsidiaries of Primerica Life. Peach Re and Vidalia Re have each entered into separate coinsurance agreements with Primerica Life whereby Primerica Life has ceded certain level-premium term life insurance policies to Peach Re and Vidalia Re (respectively, the “Peach Re Coinsurance Agreement” and the “Vidalia Re Coinsurance Agreement”). Basis of Presentation. We prepare our financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles are established primarily by the Financial Accounting Standards Board (“FASB”). Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect financial statement balances, revenues and expenses and cash flows, as well as the disclosure of contingent assets and liabilities. Management considers available facts and knowledge of existing circumstances when establishing the estimates included in our financial statements. The most significant items that involve a greater degree of accounting estimates and actuarial determinations subject to change in the future are the valuation of investments, deferred policy acquisition costs (“DAC”), future policy benefit reserves and corresponding amounts recoverable from reinsurers, and income taxes. Estimates for these and other items are subject to change and are reassessed by management in accordance with U.S. GAAP. Actual results could differ from those estimates. Consolidation. The accompanying consolidated financial statements include the accounts of the Company and those entities required to be consolidated under U.S. GAAP. All material intercompany profits, transactions, and balances among the consolidated entities have been eliminated. Reclassifications. Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. These reclassifications had no impact on net income or total stockholders’ equity. Foreign Currency Translation. Assets and liabilities of our Canadian subsidiaries are translated into U.S. dollars using year-end exchange rates, and the translation adjustments are reported in other comprehensive income (loss). Revenues and expenses of our Canadian subsidiaries are translated monthly at amounts that approximate weighted-average exchange rates. Investments. Investments are reported on the following bases: • Available-for-sale (“AFS”) fixed-maturity securities, including bonds and redeemable preferred stocks, are carried at fair value. • Our held-to-maturity fixed-maturity security is carried at amortized cost. • Equity securities, including common and nonredeemable preferred stocks, are carried at fair value. Changes in fair value of equity securities are included in realized investment gains (losses) in the period in which the change occurred. • Trading securities, which primarily consist of bonds held by PFS Investments, are carried at fair value. Changes in fair value of trading securities are included in realized investment gains (losses) in the period in which the change occurred. • Policy loans are carried at unpaid principal balances, which approximate fair value. Investment transactions are recorded on a trade-date basis. We use the specific-identification method to determine the realized gains or losses from securities transactions and report the realized gains or losses in the accompanying consolidated statements of income. Unrealized gains and losses on AFS securities are included as a separate component of other comprehensive income (loss), except for credit loss impairment discussed below, in the accompanying consolidated statements of comprehensive income. For an AFS security with an amortized cost that exceeds its fair value, we first determine if we intend to sell or will more-likely-than-not be required to sell the security before the expected recovery of its amortized cost. If we intend to sell or will more-likely-than-not be required to sell the security, then we recognize the impairment as a credit loss in our consolidated statements of income by writing down the security’s amortized cost to its fair value. If we do not intend to sell or it is not more-likely-than-not that we will be required to sell the security before the expected recovery of its amortized cost, we recognize the portion of the impairment that is due to a credit loss, if any, in our consolidated statement of income through an allowance. The portion of the impairment that is due to factors other than a credit loss is recognized in other comprehensive income in the consolidated statement of comprehensive income as an unrealized loss. Credit losses recognized in the allowance for credit losses are reversed in situations where the estimate of credit losses on those securities has declined. When determining whether an impairment is due to a credit loss or other factors, we determine the extent to which we do not expect to recover the security’s amortized cost and record such amount, if any, as a credit loss. Factors we consider in determining whether the security’s decline in fair value is below amortized cost due to a credit loss include the magnitude of the security’s decline in fair value below its amortized cost, the financial condition, long and near-term prospects for the issuer, industry conditions and trends, rating agency actions, the payment structure of the security, likelihood of the recoverability of principal and interest, and our ability and intent to hold the security for a period of time sufficient to allow for the anticipated recovery of its amortized cost. In assessing our ability and intent to hold the security for a period of time to allow for the anticipated recovery of its amortized cost, we also consider our anticipated sources of cash to fund operating activities and share repurchases. If we do not anticipate recovering a security’s amortized cost basis, we estimate the present value of the security’s expected cash flows and recognize the difference from amortized cost (using fair value as a floor) as a credit loss. Interest income on fixed-maturity securities is recorded when earned by determining the effective yield, which gives consideration to amortization of premiums, accretion of discounts, and any previous credit losses. Dividend income on equity securities is recorded when declared. These amounts are included in net investment income in the accompanying consolidated statements of income. Included within fixed-maturity securities are loan-backed and asset-backed securities. Amortization of the premium or accretion of the discount uses the retrospective method. The effective yield used to determine amortization/accretion is calculated based on actual and historical projected future cash flows and updated quarterly. Cash and Cash Equivalents. Cash and cash equivalents include cash on hand, money market instruments, and all other highly liquid investments purchased with an original or remaining maturity of three months or less at the date of acquisition. Reinsurance. We use reinsurance extensively, utilizing yearly renewable term (“YRT”) and coinsurance agreements. Under YRT agreements, we reinsure only the mortality risk, while under coinsurance, we reinsure a proportionate part of all risks arising under the reinsured policy. Under coinsurance, the reinsurer receives a proportionate part of the premiums, less commission allowances, and is liable for a corresponding part of all benefit payments. All reinsurance contracts in effect for the three-year period ended December 31, 2020 transfer a reasonable possibility of substantial loss to the reinsurer or are accounted for under the deposit method of accounting. Ceded premiums are treated as a reduction to direct premiums and are recognized when due to the assuming company. Ceded claims are treated as a reduction to direct benefits and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as a reduction to benefits and claims expense and are recognized during the applicable financial reporting period. Reinsurance premiums, commissions, expense reimbursements and benefits and reserves related to reinsured long-duration contracts are accounted for over the life of the underlying contracts using assumptions consistent with those used to account for the underlying policies. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liabilities and future policy benefits associated with reinsured policies. Ceded policy reserves and claims liabilities relating to insurance ceded are shown as reinsurance recoverables on the accompanying consolidated balance sheets. We analyze and monitor the credit-worthiness of each of our reinsurance partners to minimize collection issues. For reinsurance contracts with unauthorized reinsurers, we require collateral such as letters of credit. To the extent we receive ceding allowances to cover policy and claims administration under reinsurance contracts, these allowances are treated as a reduction to insurance commissions and expenses and are recognized when due from the assuming company. To the extent we receive ceding allowances reimbursing commissions that would otherwise be deferred, the amount of commissions deferrable will be reduced. The corresponding DAC balances are reduced on a pro rata basis by the portion of the business reinsured with reinsurance agreements that meet risk transfer provisions. The reduced DAC will result in a corresponding reduction of amortization expense. We estimate and recognize lifetime expected credit losses for reinsurance recoverables. In estimating the allowance for expected credit losses for reinsurance recoverables, we factor in the underlying collateral for reinsurance agreements where available. Specifically, for reinsurers with underlying trust assets, we compare the reinsurance recoverables balance to the underlying trust assets that mitigate the potential exposure to credit losses. We also analyze the financial condition of the reinsurers, as determined by third-party rating agencies, to determine the probability of default for the reinsurers. We then utilize a third-party credit default study to calculate an expected credit loss given default rate or recovery rate. The probability of default and loss given default rates are then applied to the reinsurers’ recoverable balance, while also factoring in any third-party letters of credit that support the reinsurance agreement, in order to calculate our current expected credit loss allowance. DAC. We defer incremental direct costs of successful contract acquisitions that result directly from and are essential to the contract transaction(s) and that would not have been incurred had the contract transaction(s) not occurred. These deferred policy acquisition costs mainly include commissions and policy issue expenses. All other acquisition-related costs, including unsuccessful acquisition and renewal efforts, are charged to expense as incurred. Also, administrative costs, rent, depreciation, occupancy, equipment, and all other general overhead costs are considered indirect costs and are charged to expense as incurred. DAC for term life insurance policies is amortized over the initial premium-paying period of the related policies in proportion to premium revenue. DAC for Canadian segregated funds is amortized over the life of the underlying policies at a constant rate based on the present value of the estimated gross profits expected to be realized over the life of the underlying policies. DAC is subject to recoverability testing annually and when impairment indicators exist. Intangible Assets. Intangible assets, which are included in other assets, are amortized over their estimated useful lives. Any intangible asset that was deemed to have an indefinite useful life is not amortized but is subject to an annual impairment test. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For the other intangible assets, which are subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset. The components of intangible assets were as follows: December 31, 2020 2019 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Indefinite-lived intangible asset $ 45,275 n/a $ 45,275 $ 45,275 n/a $ 45,275 Amortizing intangible asset - - - - - - Total intangible assets $ 45,275 $ - $ 45,275 $ 45,275 $ - $ 45,275 We have an indefinite-lived intangible asset related to the 1989 purchase of the right to contract with the sales force. This asset represents the core distribution model of our business, which is our primary competitive advantage to profitably distribute term life insurance and investment and savings products on a significant scale, and as such, is considered to have an indefinite life. This indefinite-lived intangible asset is supported by a significant portion of the discounted cash flows of our future business. We assessed this asset for impairment as of October 1, 2020 and determined that no impairment had occurred. There have been no subsequent events requiring further analysis. We also had an amortizing intangible asset related to a 1995 sales agreement termination payment to Management Financial Services, Inc. This asset, which was fully amortized in 2019, was supported by a non-compete agreement with the founder of our business model that expired in 2019. We calculated the amortization of this contract buyout on a straight-line basis over 24 years, which represented the life of the non-compete agreement. Intangible asset amortization expense was $2.8 million in 2019 and $3.4 million in 2018. Property and Equipment. Property and equipment, which are included in other assets, are stated at cost, less accumulated depreciation. Depreciation is recognized on a straight-line basis over the asset’s estimated useful life, which is estimated as follows: Estimated Useful Life Data processing equipment and software 3 to 7 years Leasehold improvements Lesser of 15 years or remaining life of lease Furniture and other equipment 5 to 15 years Depreciation expense is included in other operating expenses in the accompanying consolidated statements of income. Depreciation expense was $18.0 million, $15.7 million, and $9.0 million for the years ended December 31, 2020, 2019, and 2018, respectively. Property and equipment balances were as follows: December 31, 2020 2019 (In thousands) Data processing equipment and software $ 104,364 $ 86,794 Leasehold improvements 18,764 19,079 Other, principally furniture and equipment 35,099 31,391 158,227 137,264 Accumulated depreciation (100,500 ) (91,148 ) Net property and equipment $ 57,727 $ 46,116 Separate Accounts. The separate accounts are primarily comprised of contracts issued by the Company through its subsidiary, Primerica Life Canada, pursuant to the Insurance Companies Act (Canada). The Insurance Companies Act authorizes Primerica Life Canada to establish the separate accounts. The separate accounts are represented by individual variable insurance contracts. Purchasers of variable insurance contracts issued by Primerica Life Canada have a direct claim to the benefits of the contract that entitles the holder to units in one or more investment funds (the “Funds”) maintained by Primerica Life Canada. The Funds invest in assets that are held for the benefit of the owners of the contracts. The benefits provided vary in amount depending on the fair value of the Funds’ net assets. The Funds’ assets are administered by Primerica Life Canada and are held separate and apart from the general assets of the Company. The liabilities reflect the variable insurance contract holders’ interests in the Funds’ net assets based upon actual investment performance of the respective Funds. Separate account operating results relating to contract holders’ interests are excluded from our consolidated statements of income. Primerica Life Canada’s contract offerings guarantee the maturity value at the date of maturity (or upon death, whichever occurs first) to be equal to 75% of the sum of all contributions made, net of withdrawals, on a first-in, first-out basis. Otherwise, the maturity value or death benefit will be the accumulated value of units allocated to the contract at the specified valuation date. Policyholder Liabilities. Future policy benefits are accrued over the current and renewal periods of the contracts. Liabilities for future policy benefits on traditional life insurance products are reserves established for death claims and waiver of premium benefits and have been computed using a net level method, using assumptions as to interest rates, mortality, persistency, disability rates and other assumptions based on our experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. The underlying mortality tables are the Society of Actuaries (“SOA”) 65-70, SOA 75-80, SOA 85-90, and the 91 Bragg, modified to reflect various underwriting classifications and assumptions. Interest rate reserve assumptions at December 31, 2020 and 2019 ranged from 3.0% to 7.0%. For policies issued in 2010 and after, we have been using an increasing interest rate assumption to reflect the historically low interest rate environment. The liability for policy claims and other benefits payable on traditional life insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. The future policy benefit reserves we establish are necessarily based on estimates, assumptions and our analysis of historical experience. We do not modify the assumptions used to establish future policy benefit reserves during the policy term unless a premium deficiency is identified. Our results depend significantly upon the extent to which our actual claims experience is consistent with the assumptions we used in determining our future policy benefit reserves and pricing our products. Our future policy benefit reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. We cannot determine with precision the ultimate amounts that we will pay for actual claims or the timing of those payments. Unearned and Advance Premiums. Unearned and advance premiums primarily consist of premiums received from policyholders in advance of the premiums due date. Unearned and advance premiums are deferred upon collection and recognized as premiums revenue upon the premium due date. Other Policyholders’ Funds . Other policyholders’ funds primarily represent claim payments left on deposit with us. Litigation. The Company is involved from time-to-time in legal disputes, regulatory inquiries and arbitration proceedings in the normal course of business. Contingent litigation-related losses are recognized when probable and can be reasonably estimated. Legal costs, such as attorneys’ fees and other litigation-related expenses that are incurred in connection with resolving litigation are expensed as incurred. These disputes are subject to uncertainties, including indeterminate amounts sought in certain of these matters and the inherent unpredictability of litigation. Due to the difficulty of estimating costs of litigation, actual costs may be substantially higher or lower than any amounts reserved. Income Taxes . We are subject to the income tax laws of the United States, its states, municipalities, and certain unincorporated territories, and those of Canada. These tax laws can be complex and subject to different interpretations by the taxpayer and the relevant governmental taxing authorities. In establishing a provision for income tax expense, we must make judgments and interpretations about the applicability of these tax laws. We also must make estimates about the future impact certain items will have on taxable income in the various tax jurisdictions, both domestic and foreign. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to (i) differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and (ii) operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are recognized subject to management’s judgment that realization is more-likely-than-not applicable to the periods in which we expect the temporary difference will reverse. Premium Revenues . Traditional life insurance products consist principally of those products with fixed and guaranteed premiums and benefits, and are primarily related to term products. Premiums are recognized as revenues when due. Commissions and Fees. We receive commissions and fees revenue from the sale of various non-life insurance products. Commissions revenue is generally received on the sale of mutual funds and annuities. We also receive trail commissions revenue from mutual fund and annuity products based on the net asset value of shares sold by us. We, in turn, pay sales commissions to the sales force. We also receive investment advisory and administrative fees based on the average daily net asset value of client assets held in managed investments programs and contracts related to separate account assets issued by Primerica Life Canada. We, in turn, pay asset-based commissions to the sales force. We earn recordkeeping fees for transfer agent recordkeeping services that we perform on behalf of several of our mutual fund providers and custodial fees for services performed as a non-bank custodian of our clients’ retirement plan accounts. See Note 18 (Revenue from Contracts with Customers) for details related to our commission and fees revenues recognition policies. Benefits and Expenses . Benefit and expense items are charged to income in the period in which they are incurred. Both the change in policyholder liabilities, which is included in benefits and claims, and the amortization of deferred policy acquisition costs will vary with policyholder persistency. Share-Based Transactions. For employee and director share-based compensation awards, we determine a grant date fair value based on the price of our publicly-traded common stock and recognize the related compensation expense, adjusted for actual forfeitures, in the consolidated statements of income on a straight-line basis over the requisite service period for the entire award. For non-employee share-based compensation, we recognize the impact during the period of performance, and the fair value of the award is measured as of the grant date, which occurs in the same quarter as the service period. To the extent non-employee share-based compensation is an incremental direct cost of successful acquisitions or renewals of life insurance policies that result directly from and are essential to the policy acquisition(s) and would not have been incurred had the policy acquisition(s) not occurred, we defer and amortize the fair value of the awards in the same manner as other deferred policy acquisition costs. Earnings Per Share (“EPS”). The Company has outstanding equity awards that consist of restricted stock units (“RSUs”), performance-based stock units (“PSUs”), and stock options. The RSUs maintain non-forfeitable dividend rights that result in dividend payment obligations on a one-to-one ratio with common shares for any future dividend declarations. Unvested RSUs are deemed participating securities for purposes of calculating EPS as they maintain dividend rights. See Note 13 (Earnings Per Share) for details related to the calculations of our basic and diluted EPS using the two-class method. New Accounting Principles. In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments (“ASC 326”). ASC 326 introduced new guidance for accounting for credit losses on financial instruments within its scope, including reinsurance recoverables, by replacing the previous approach that delayed recognition until it was probable a loss had been incurred with a current approach that estimates an allowance for anticipated credit losses on the basis of an entity’s own expectations. The objective of the current approach for estimating credit losses is to require consideration of a broader range of forward-looking information, which is expected to result in earlier recognition of credit losses on financial instruments. AFS securities are excluded from the scope of financial instruments that require measurement of credit losses on the basis of a forward-looking expected loss estimate under ASC 326. The incurred probable loss approach for measuring losses on AFS securities in the consolidated statements of income remains under ASC 326, however, an entity is allowed to reverse credit losses previously recognized in an allowance for AFS securities in situations where the estimate of credit losses on those securities has declined. The amendments in ASC 326 also preclude an entity from considering the length of time an AFS security has been in an unrealized loss position to avoid recording a credit loss and removes the requirement to consider recoveries or declines in fair value after the balance sheet date. We adopted the amendments in ASC 326 as of the January 1, 2020 application date through a cumulative-effect adjustment to beginning retained earnings of $1.2 million, net of taxes. Furthermore, the adoption of ASC 326 did not result in any material changes to impairment losses recognized in our consolidated statements of income for AFS securities. Refer to Note 4 (Investments) and Note 6 (Reinsurance) for more information on credit losses. Future Application of Accounting Standards. In August 2018, the FASB issued Accounting Standards Update No. 2018-12, Financial Services—Insurance (Topic 944) — Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”). The amendments in this update change accounting guidance for insurance companies that issue long-duration contracts, including term life insurance. ASU 2018-12 requires companies that issue long-duration insurance contracts to update assumptions used in measuring future policy benefits, including mortality, disability, and persistency, at least annually instead of locking those assumptions at contract inception and reflecting differences in assumptions and actual performance as the experience occurs. ASU 2018-12 also includes changes to how insurance companies that issue long-duration contracts amortize DAC and determine and update the discount rate assumptions used in measuring future policy benefits reserves while increasing the level of financial statement disclosures required. The guidance in ASU 2018-12 will be applied to the earliest period presented in the consolidated financial statements beginning on the effective date. On November 5, 2020, the FASB issued ASU 2020-11, Financial Services—Insurance (Topic 944): Effective Date and Early Application, which deferred the effective date of ASU 2018-12 by an additional year, moving the effective date from January 1, 2022 to January 1, 2023. The adoption of ASU 2018-12 will have an impact on our consolidated financial statements and related disclosures and will require changes to certain of our processes, systems, and controls. We are currently working on processes that will allow us to obtain the requisite data, modify our valuation system, and develop key assumptions that will be necessary to evaluate and implement this standard. As such, we are unable to determine the magnitude of the impact ASU 2018-12 will have on our consolidated financial statements at this time. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes improve consistent application. The guidance in ASU 2019-12 is effective for the Company beginning January 1, 2021. The impact of ASU 2019-12 will not have a material effect on our consolidated financial statements. Recently-issued accounting guidance not discussed above is not applicable, is immaterial to our consolidated financial statements, or did not or is not expected to have a material impact on our business.

Other Comprehensive Income

Other Comprehensive Income	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Other Comprehensive Income	(2) The components of other comprehensive income (“OCI”), including the income tax expense or benefit allocated to each component, were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Foreign currency translation adjustments: Change in unrealized foreign currency translation gains (losses) before income taxes $ 7,343 $ 15,299 $ (25,059 ) Income tax expense (benefit) on unrealized foreign currency translation gains (losses) - - - Change in unrealized foreign currency translation gains (losses), net of income taxes $ 7,343 $ 15,299 $ (25,059 ) Unrealized gain (losses) on available-for-sale securities: Change in unrealized holding gains (losses) arising during period before income taxes $ 78,533 $ 91,160 $ (59,661 ) Income tax expense (benefit) on unrealized holding gains (losses) arising during period 17,033 19,427 (12,681 ) Change in unrealized holding gains (losses) on available-for-sale securities arising during period, net of income taxes 61,500 71,733 (46,980 ) Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities 2,614 253 (45 ) Income tax (expense) benefit on (gains) losses reclassified from accumulated OCI to net income 549 53 (9 ) Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities, net of income taxes 2,065 200 (36 ) Change in unrealized gains (losses) on available-for-sale securities, net of income taxes and reclassification adjustment $ 63,565 $ 71,933 $ (47,016 )

Segment and Geographical Inform

Segment and Geographical Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment and Geographical Information	(3) Segment and Geographical Information Segments. We have two primary operating segments — Term Life Insurance and Investment and Savings Products. The Term Life Insurance segment includes underwriting profits on our in-force book of term life insurance policies, net of reinsurance, which are underwritten by our life insurance company subsidiaries. The Investment and Savings Products segment includes retail and managed mutual funds and annuities distributed through licensed broker-dealer subsidiaries and includes segregated funds, an individual annuity savings product that we underwrite in Canada through Primerica Life Canada. In the United States, we distribute mutual fund and annuity products of several third-party companies. We also earn fees for transfer agent recordkeeping functions and non-bank custodial services that we provide for certain mutual funds products we distribute. In Canada, we offer a Primerica-branded fund-of-funds mutual fund product, as well as mutual funds of well-known mutual fund companies. These two operating segments are managed separately because their products serve different needs — term life insurance income protection versus wealth-building savings products. We also have a Corporate and Other Distributed Products segment, which consists primarily of revenues and expenses related to several discontinued lines of insurance other than our core term life insurance products and the distribution of various other financial products generally underwritten or offered by third-party providers. All of the Company’s net investment income, except for the portion allocated to the Term Life Insurance segment that represents the assumed interest accreted to its U.S. GAAP-measured future policy benefit reserve liability less DAC, is attributed to the Corporate and Other Distributed Products segment. In addition, interest expense incurred by the Company as well as realized gains and losses on our invested asset portfolio are entirely attributed to the Corporate and Other Distributed Products segment. Notable information included in profit or loss by segment was as follows: Year ended December 31, 2020 2019 2018 (In thousands) Revenues: Term life insurance segment $ 1,382,770 $ 1,227,231 $ 1,123,200 Investment and savings products segment 718,867 691,608 655,076 Corporate and other distributed products segment 115,904 133,665 121,567 Total revenues $ 2,217,541 $ 2,052,504 $ 1,899,843 Net investment income: Term life insurance segment $ 27,030 $ 19,922 $ 13,747 Investment and savings products segment - - - Corporate and other distributed products segment 56,784 74,151 67,683 Total net investment income $ 83,814 $ 94,073 $ 81,430 Amortization of DAC: Term life insurance segment $ 216,208 $ 248,711 $ 228,613 Investment and savings products segment 7,055 4,549 9,766 Corporate and other distributed products segment 1,058 1,292 1,351 Total amortization of DAC $ 224,321 $ 254,552 $ 239,730 Non-cash share-based compensation expense: Term life insurance segment $ 3,612 $ 3,605 $ 4,135 Investment and savings products segment 3,045 3,440 2,695 Corporate and other distributed products segment 12,370 10,475 10,421 Total non-cash share-based compensation expense $ 19,027 $ 17,520 $ 17,251 Income (loss) before income taxes: Term life insurance segment $ 372,551 $ 320,093 $ 281,904 Investment and savings products segment 202,644 191,812 173,912 Corporate and other distributed products segment (68,465 ) (34,794 ) (39,732 ) Total income before income taxes $ 506,730 $ 477,111 $ 416,084 Insurance expenses and other operating expenses directly attributable to the Term Life Insurance and the Investment and Savings Products segments are recorded directly to the applicable segment. We allocate certain other revenue and operating expenses that are not directly attributable to a specific operating segment using methods expected to reasonably measure the benefit received by each reporting segment. Such methods include time studies, recorded usage, revenue distribution, and sales force representative distribution. These allocated items include fees charged for access to Primerica Online (“POL”) and costs incurred for technology, sales force support, occupancy and other general and administrative costs. Costs that are not directly charged or allocated to our two primary operating segments are included in our Corporate and Other Distributed Products segment. Total assets by segment were as follows: December 31, 2020 December 31, 2019 December 31, 2018 (In thousands) Assets: Term life insurance segment $ 6,985,086 $ 6,546,129 $ 6,322,555 Investment and savings products segment (1) 2,769,445 2,598,493 2,298,238 Corporate and other distributed products segment 5,150,754 4,543,909 3,974,255 Total assets $ 14,905,285 $ 13,688,531 $ 12,595,048 (1) The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $110.0 million, $112.8 million, and $102.8 million as of December 31, 2020, 2019, and 2018, respectively. Assets specifically related to a segment are held in that segment. All invested assets held by the Company, including the deposit asset recognized in connection with our 10% coinsurance agreement (the “10% Coinsurance Agreement”) and the held-to-maturity security received in connection with the Vidalia Re Coinsurance Agreement, are reported as assets of the Corporate and Other Distributed Products segment. DAC is recognized in a particular segment based on the product to which it relates. Separate account assets supporting the segregated funds product in Canada are held in the Investment and Savings Products segment. Any remaining unallocated assets are reported in the Corporate and Other Distributed Products segment. Geographical Information. Results of operations by country and long-lived assets — primarily tangible assets reported in other assets in our consolidated balance sheets —were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Revenues by country: United States $ 1,895,708 $ 1,747,609 $ 1,607,140 Canada 321,833 304,895 292,703 Total revenues $ 2,217,541 $ 2,052,504 $ 1,899,843 Income before income taxes by country: United States $ 411,751 $ 390,431 $ 337,914 Canada 94,979 86,680 78,170 Total income before income taxes $ 506,730 $ 477,111 $ 416,084 December 31, 2020 December 31, 2019 December 31, 2018 (In thousands) Long-lived assets by country: United States $ 53,281 $ 41,200 $ 30,999 Canada 4,446 4,916 4,997 Total long-lived assets $ 57,727 $ 46,116 $ 35,996

Investments

Investments	12 Months Ended
	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Investments	(4) Investments AFS Securities. The period-end cost or amortized cost, gross unrealized gains and losses, and fair value of AFS fixed-maturity securities were as follows: December 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Securities available-for-sale, carried at fair value: Fixed-maturity securities: U.S. government and agencies $ 9,747 $ 400 $ (3 ) $ 10,144 Foreign government 169,967 13,324 (39 ) 183,252 States and political subdivisions 161,058 9,632 (1 ) 170,689 Corporates 1,506,549 124,164 (2,545 ) 1,628,168 Residential mortgage-backed securities 261,376 11,419 (54 ) 272,741 Commercial mortgage-backed securities 107,020 5,901 (56 ) 112,865 Other asset-backed securities 85,521 1,816 (585 ) 86,752 Total fixed-maturity securities $ 2,301,238 $ 166,656 $ (3,283 ) $ 2,464,611 December 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Securities available-for-sale, carried at fair value: Fixed-maturity securities: U.S. government and agencies $ 10,197 $ 287 $ - $ 10,484 Foreign government 154,945 6,362 (235 ) 161,072 States and political subdivisions 120,000 3,288 (695 ) 122,593 Corporates 1,436,877 63,892 (1,118 ) 1,499,651 Residential mortgage-backed securities 305,897 6,848 (222 ) 312,523 Commercial mortgage-backed securities 128,913 3,191 (99 ) 132,005 Other asset-backed securities 117,941 970 (243 ) 118,668 Total fixed-maturity securities $ 2,274,770 $ 84,838 $ (2,612 ) $ 2,356,996 All of our AFS mortgage- and asset-backed securities represent beneficial interests in variable interest entities (“VIEs”). We are not the primary beneficiary of these VIEs because we do not have the power to direct the activities that most significantly impact the entities’ economic performance. The maximum exposure to loss as a result of our involvement in these VIEs equals the carrying value of the securities. The scheduled maturity distribution of the AFS fixed-maturity securities portfolio as of December 31, 2020 was as follows: Amortized cost Fair value (In thousands) Due in one year or less $ 178,278 $ 180,954 Due after one year through five years 831,986 894,191 Due after five years through 10 years 546,330 598,767 Due after 10 years 290,727 318,341 1,847,321 1,992,253 Mortgage- and asset-backed securities 453,917 472,358 Total AFS fixed-maturity securities $ 2,301,238 $ 2,464,611 Expected maturities may differ from scheduled contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties. Trading Securities. The costs and fair values of the fixed-maturity securities classified as trading securities were as follows: December 31, 2020 December 31, 2019 Cost Fair value Cost Fair value (In thousands) Fixed-maturity securities $ 16,359 $ 16,300 $ 43,257 $ 43,233 Held-to-maturity Security. Concurrent with the execution of the Vidalia Re Coinsurance Agreement, Vidalia Re entered into a Surplus Note Purchase Agreement (the “Surplus Note Purchase Agreement”) with Hannover Life Reassurance Company of America and certain of its affiliates (collectively, “Hannover Re”) and a newly formed limited liability company (the “LLC”) owned by a third- party service provider. Under the Surplus Note Purchase Agreement, Vidalia Re issued a surplus note (the “Surplus Note”) to the LLC in exchange for a credit enhanced note from the LLC with an equal principal amount (the “LLC Note”). The principal amount of both the LLC Note and the Surplus Note will fluctuate over time to coincide with the amount of reserves contractually supported under the Vidalia Re Coinsurance Agreement. Both the LLC Note and the Surplus Note mature on December 31, 2030 and bear interest at an annual interest rate of 4.50%. The LLC Note is guaranteed by Hannover Re through a credit enhancement feature in exchange for a fee, which is reflected in interest expense on our consolidated statements of income. The LLC is a VIE as its owner does not have an equity investment at risk that is sufficient to permit the LLC to finance its activities without Vidalia Re or Hannover Re. The Parent Company, Primerica Life, and Vidalia Re share the power to direct the activities of the LLC with Hannover Re, but do not have the obligation to absorb losses or the right to receive any residual returns related to the LLC’s primary risks or sources of variability. Through the credit enhancement feature, Hannover Re is the ultimate risk taker in this transaction and bears the obligation to absorb the LLC’s losses in the event of a Surplus Note default in exchange for the fee. Accordingly, the Company is not the primary beneficiary of the LLC and does not consolidate the LLC within its consolidated financial statements. The LLC Note is classified as a held-to-maturity debt security in the Company’s invested asset portfolio as we have the positive intent and ability to hold the security until maturity. As of December 31, 2020, the LLC Note had an estimated unrealized holding gain of $259.9 million based on its amortized cost and estimated fair value. The estimated fair value of the LLC Note is expected to be at least equal to the estimated fair value of the offsetting Surplus Note. See Note 5 (Fair Value of Financial Instruments) for information on the fair value of our financial instruments and see Note 10 (Debt) for more information on the Surplus Note. As of December 31, 2020, no credit losses have been recognized on the LLC Note held-to-maturity security. Investments on Deposit with Governmental Authorities. As required by law, we have investments on deposit with governmental authorities and banks for the protection of policyholders. The fair values of investments on deposit were $7.7 million and $7.5 million as of December 31, 2020 and 2019, respectively. Securities Lending Transactions. We participate in securities lending transactions with broker-dealers and other financial institutions to increase investment income with minimal risk. We require minimum collateral on securities loaned equal to 102% of the fair value of the loaned securities. We accept collateral in the form of securities, which we are not able to sell or encumber, and to the extent the collateral declines in value below 100%, we require additional collateral from the borrower. Any securities collateral received is not reflected on our consolidated balance sheets. We also accept collateral in the form of cash, all of which we reinvest. For loans involving unrestricted cash collateral, the collateral is reported as an asset with a corresponding liability representing our obligation to return the collateral. We continue to carry the loaned securities as invested assets on our consolidated balance sheets during the terms of the loans, and we do not report them as sales. Cash collateral received and reinvested was $72.2 million and $28.7 million as of December 31, 2020 and 2019, respectively. Investment Income. The components of net investment income were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Fixed-maturity securities (available-for-sale) $ 82,805 $ 81,828 $ 79,356 Fixed-maturity security (held-to-maturity) 57,473 48,325 37,485 Equity securities 1,751 1,845 1,955 Policy loans and other invested assets 1,244 1,069 1,159 Cash and cash equivalents 1,202 4,758 3,433 Total return on deposit asset underlying 10% coinsurance agreement ( 1) 4,253 13,429 3,643 Gross investment income 148,728 151,254 127,031 Investment expenses (7,441 ) (8,856 ) (8,116 ) Investment income net of investment expenses 141,287 142,398 118,915 Interest expense on surplus note (57,473 ) (48,325 ) (37,485 ) Net investment income $ 83,814 $ 94,073 $ 81,430 (1) Includes $2.0 million, $5.4 million, and $(1.7) million of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10% The components of net realized investment gains (losses), as well as details on gross realized investment gains and (losses) were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Net realized investment gains (losses): Gross gains from sales of available-for-sale securities $ 2,595 $ 1,373 $ 1,162 Gross losses from sales of available-for-sale securities (955 ) (293 ) (965 ) Credit losses impairment of available-for-sale securities (4,254 ) (1,333 ) (152 ) Net gains (losses) recognized in net income during the period on equity securities (2,435 ) 5,207 (2,456 ) Gains (losses) from bifurcated options 57 - 290 Gains (losses) on trading securities (4 ) 11 - Net realized investment gains (losses) $ (4,996 ) $ 4,965 $ (2,121 ) The proceeds from sales or other redemptions of available-for-sale securities were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Proceeds from sales or other redemptions $ 496,907 $ 454,421 $ 414,139 The components of net gains (losses) recognized in net income on equity securities still held as of period-end were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Net gains (losses) recognized on equity securities $ (2,435 ) $ 5,207 $ (2,456 ) Less: Net gains (losses) recognized on equity securities sold (281 ) (254 ) (48 ) Net gains (losses) recognized in net income on equity securities still held as of period-end $ (2,154 ) $ 5,461 $ (2,408 ) Accrued Interest. Accrued interest is recorded in accordance with the original interest schedule of the underlying security. In the event of default, the Company’s policy is to no longer accrue interest on these securities and to write off any remaining accrued interest. As a result, the Company has made the policy election to not record an allowance for credit losses on accrued interest. Credit L osses for A vailable-for-sale F ixed-maturity S ecurities. The following tables summarizes all AFS securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2020, aggregated by major security type and by length of time such securities have continuously been in an unrealized loss position: December 31, 2020 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (Dollars in thousands) Fixed-maturity securities: U.S. government and agencies $ 1,619 $ (3 ) $ - $ - Foreign government 4,034 (39 ) - - States and political subdivisions 449 (1 ) - - Corporates 68,057 (1,628 ) 11,964 (917 ) Residential mortgage-backed securities 1,672 (35 ) 862 (19 ) Commercial mortgage-backed securities 10,200 (50 ) 2,168 (6 ) Other asset-backed securities 11,988 (536 ) 3,150 (49 ) Total fixed-maturity securities $ 98,019 $ (2,292 ) $ 18,144 $ (991 ) The amortized cost of AFS securities with a cost basis in excess of their fair values were $119.4 million as of December 31, 2020. As of December 31, 2020, we did not recognize credit losses in the consolidated statements of income on available-for-sale securities with unrealized losses that were due to interest rate sensitivity and changes in credit spreads. We believe that fluctuations caused by movement in interest rates and credit spreads generally have little bearing on the recoverability of our investments. For those investments that remain in an unrealized loss position we have the ability to hold these investments until maturity or a market price recovery, and we have no present intention to dispose of them. For the year ended December 31, 2020, we recorded approximately $4.3 million for credit losses in the consolidated statements of income on available-for-sale securities, and approximately $3.8 million of the credit losses were recorded as an adjustment to the amortized cost basis due to our intent to sell securities of specific issuers that operate in distressed industry sectors. We recognize credit losses on The remaining portion of credit losses was recognized in the allowance for credit losses. The rollforward of the allowance for credit losses on available-for-sale securities for the year ended December 31, 2020 was as follows: Year ended December 31, 2020 (In thousands) Allowance for credit losses, beginning of period $ - Additions to the allowance for credit losses on securities for which credit losses were not previously recorded 525 Additional increases (or decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period (51 ) Write-offs charged against the allowance, if any (474 ) Allowance for credit losses, end of period $ - Other-than-temporary impairment (“OTTI”). For the years ended December 31, 2019 and 2018, which preceded the adoption of ASC 326, we conducted a review each quarter to identify and evaluate impaired investments that had indications of possible OTTI. An investment in a debt security was impaired if its fair value fell below its cost. Factors considered in determining whether an impairment was temporary included the length of time and extent to which fair value was below cost, the financial condition and near-term prospects for the issue, and our ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery, which may have been maturity. Our review for OTTI generally entailed: • Analysis of individual investments that had fair values less than a pre-defined percentage of amortized cost, including consideration of the length of time the investment had been in an unrealized loss position; • Analysis of corporate fixed-maturity securities by reviewing the issuer’s most recent performance to date, including analyst reviews, analyst outlooks and rating agency information; • Analysis of commercial mortgage-backed securities based on an assessment of performance to date, credit enhancement, risk analytics and outlook, underlying collateral, loss projections, rating agency information and available third-party reviews and analytics; • Analysis of residential mortgage-backed securities based on loss projections provided by models compared to current credit enhancement levels; • Analysis of our other investments, as required based on the type of investment; and • Analysis of downward credit migrations that occurred during the quarter. The following table summarizes all AFS securities as of December 31, 2019 (prior to adoption of ASC 326), in an unrealized loss position, the aggregate fair value and the gross unrealized loss by length of time such securities have continuously been in an unrealized loss position: December 31, 2019 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (Dollars in thousands) Fixed-maturity securities: U.S. government and agencies $ - $ - $ - $ - Foreign government 11,824 (144 ) 8,578 (91 ) States and political subdivisions 39,379 (690 ) 4,000 (5 ) Corporates 52,474 (453 ) 21,739 (665 ) Residential mortgage-backed securities 40,690 (207 ) 2,071 (15 ) Commercial mortgage-backed securities 11,526 (28 ) 12,835 (71 ) Other asset-backed securities 22,501 (190 ) 4,613 (53 ) Total fixed-maturity securities $ 178,394 $ (1,712 ) $ 53,836 $ (900 ) The amortized costs of AFS securities with a cost basis in excess of their fair values were $234.8 million as of December 31, 2019. As of December 31, 2019, the unrealized losses on our AFS invested asset portfolio were largely caused by interest rate sensitivity and, to a lesser extent, changes in credit spreads. We believed that fluctuations caused by movement in interest rates and credit spreads have little bearing on the recoverability of our investments. We did not consider these investments to be other-than-temporarily impaired because we had the ability to hold these investments until maturity or a market price recovery, and we had no present intention to dispose of them. OTTI recognized in earnings on AFS securities were as follows: Year ended December 31, 2019 2018 (In thousands) OTTI on fixed-maturity securities not in default $ 1,330 $ 152 OTTI on fixed-maturity securities in default 3 - Total OTTI recognized in earnings $ 1,333 $ 152 The securities noted above were considered to be other-than-temporarily impaired due to our intent to sell them; adverse credit events, such as news of an impending filing for bankruptcy; analyses of the issuer’s most recent financial statements or other information in which liquidity deficiencies, significant losses and large declines in capitalization were evident; or analyses of rating agency information for issuances with severe ratings downgrades that indicated a significant increase in the possibility of default. We also recognized OTTI related to invested assets held at the Parent Company that we intended to sell to fund share repurchases where we did not expect to recover its cost basis. OTTI recognized in earnings for AFS securities were as follows: Year ended December 31, 2019 2018 (In thousands) Total OTTI related to securities which the Company does not intend to sell or more-likely-than-not will not be required to sell: Total OTTI losses recognized $ 3 $ 152 Less portion of OTTI recognized in accumulated other comprehensive income (loss) - - OTTI recognized in earnings for securities which the Company does not intend to sell or more-likely than-not will not be required to sell before recovery 3 152 OTTI recognized in earnings for securities which the Company intends to sell or more-likely-than-not will be required to sell before recovery 1,330 - OTTI recognized in earnings $ 1,333 $ 152 The rollforward of the OTTI recognized in net income for all AFS fixed-maturity securities still held was as follows: Year ended December 31, 2019 (In thousands) Cumulative OTTI recognized in net income for securities still held, beginning of period $ 2,511 Additions for securities where no OTTI were recognized prior to the beginning of the period 1,126 Additions for securities where OTTI have been recognized prior to the beginning of the period 207 Reductions due to sales, maturities, calls, amortization or increases in cash flows expected to be collected over the remaining life of credit-impaired securities (543 ) Reductions for exchanges of securities previously impaired - Cumulative OTTI recognized in net income for securities still held, end of period $ 3,301 As of December 31, 2019, no OTTI had been recognized on the LLC Note held-to-maturity security. Derivatives. We have a deferred loss related to closed forward contracts, which were settled several years ago, that were used to mitigate our exposure to foreign currency exchange rates that resulted from the net investment in our Canadian operations. The amount of deferred loss included in accumulated other comprehensive income (loss) was $26.4 million as of December 31, 2020 and 2019. These deferred losses will not be recognized until such time as we sell or substantially liquidate our Canadian operations, although we have no such intention.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	(5) Fair Value of Financial Instruments Fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Invested assets recorded at fair value are measured and classified in accordance with a three-tier fair value hierarchy based on observable and unobservable 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. We classify and disclose all invested assets carried at fair value in one of the following three levels: • Level 1. Quoted prices for identical instruments in active markets. Level 1 consists of financial instruments whose value is based on quoted market prices in active markets, such as cash and cash equivalents, exchange-traded common stocks and actively traded mutual fund investments; • Level 2. Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. Level 2 includes those financial instruments that are valued using industry-standard pricing methodologies, models or other valuation methodologies. Various inputs are considered in deriving the fair value of the underlying financial instrument, including interest rate and yield curves, credit spread, and foreign exchange rates. All significant inputs are observable, or derived from observable information in the marketplace or are supported by observable levels at which transactions are executed in the marketplace. Financial instruments in this category primarily include: certain public and private corporate fixed-maturity and equity securities; government or agency securities; and certain mortgage- and asset-backed securities; and • Level 3. Valuations derived from valuation techniques in which one or more significant inputs are unobservable. Level 3 consists of financial instruments whose fair value is estimated based on industry-standard pricing methodologies and models using significant inputs not based on, nor corroborated by, readily available market information. Valuations for this category primarily consist of non-binding broker quotes. Financial instruments in this category primarily include less liquid mortgage- and asset-backed securities and equity securities. As of each reporting period, all assets and liabilities recorded at fair value are classified in their entirety based on the lowest level of input (Level 3 being the lowest in the hierarchy) that is significant to the fair value measurement. Significant levels of estimation and judgment are required to determine the fair value of certain of our investments. The factors influencing these estimations and judgments are subject to change in subsequent reporting periods. The estimated fair value and hierarchy classifications for assets and liabilities that are measured at fair value on a recurring basis were as follows: December 31, 2020 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 10,144 $ - $ 10,144 Foreign government - 183,252 - 183,252 States and political subdivisions - 170,689 - 170,689 Corporates 6,074 1,622,094 - 1,628,168 Mortgage-and asset-backed securities: Residential mortgage-backed securities - 272,714 27 272,741 Commercial mortgage-backed securities - 112,865 - 112,865 Other asset-backed securities - 86,752 - 86,752 Total available-for-sale securities 6,074 2,458,510 27 2,464,611 Equity securities 34,910 1,093 2,020 38,023 Trading securities - 16,300 - 16,300 Separate accounts - 2,659,520 - 2,659,520 Total fair value assets $ 40,984 $ 5,135,423 $ 2,047 $ 5,178,454 Fair value liabilities: Separate accounts $ - $ 2,659,520 $ - $ 2,659,520 Total fair value liabilities $ - $ 2,659,520 $ - $ 2,659,520 December 31, 2019 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 10,484 $ - $ 10,484 Foreign government - 161,072 - 161,072 States and political subdivisions - 122,593 - 122,593 Corporates 5,865 1,493,786 - 1,499,651 Mortgage-and asset-backed securities: Residential mortgage-backed securities - 312,497 26 312,523 Commercial mortgage-backed securities - 132,005 - 132,005 Other asset-backed securities - 118,244 424 118,668 Total available-for-sale securities 5,865 2,350,681 450 2,356,996 Equity securities 39,499 1,050 135 40,684 Trading securities - 43,233 - 43,233 Separate accounts - 2,485,745 - 2,485,745 Total fair value assets $ 45,364 $ 4,880,709 $ 585 $ 4,926,658 Fair value liabilities: Separate accounts $ - $ 2,485,745 $ - $ 2,485,745 Total fair value liabilities $ - $ 2,485,745 $ - $ 2,485,745 In estimating fair value of our investments, we use a third-party pricing service for approximately 94% of our securities that are measured at fair value on a recurring basis. The remaining securities are primarily thinly traded securities, such as private placements, and are valued using models based on observable inputs on public corporate spreads having similar characteristics (e.g., sector, average life and quality rating), liquidity and yield based on quality rating, average life and U.S. Treasury yields. All observable data inputs are corroborated by independent third-party data. We also corroborate pricing information provided by our third-party pricing service by performing a review of selected securities. Our review activities include obtaining detailed information about the assumptions, inputs and methodologies used in pricing the security; documenting this information; and corroborating it by comparison to independently obtained prices and or independently developed pricing methodologies. Furthermore, we perform internal reasonableness assessments on fair value determinations within our portfolio throughout the year and as of year-end, including pricing variance analyses and comparisons to alternative pricing sources and benchmark returns. If a fair value appears unusual relative to these assessments, we will re-examine the inputs and may challenge a fair value assessment made by the pricing service. If there is a known pricing error, we will request a reassessment by the pricing service. If the pricing service is unable to perform the reassessment on a timely basis, we will determine the appropriate price by requesting a reassessment from an alternative pricing service or other qualified source as necessary. We do not adjust quotes or prices except in a rare circumstance to resolve a known error. Because many fixed-maturity securities do not trade on a daily basis , third-party pricing services generally determine fair value using industry-standard methodologies, which vary by asset class. For corporates, governments, and agency securities, these methodologies include developing prices by incorporating available market information such as U.S. Treasury curves, benchmarking of similar securities including new issues, sector groupings, quotes from market participants and matrix pricing. Observable information is compiled and integrates relevant credit information, perceived market movements and sector news. Additionally, security prices are periodically back-tested to validate and/or refine models as conditions warrant. Market indicators and industry and economic events are also monitored as triggers to obtain additional data. For certain structured securities (such as mortgage- and asset-backed securities) with limited trading activity, third-party pricing services generally use industry-standard pricing methodologies that incorporate market information, such as index prices or discounting expected future cash flows based on underlying collateral, and quotes from market participants, to estimate fair value. If one or more of these input measures are not deemed observable for a particular security, the security will be classified as Level 3 in the fair value hierarchy. Where specific market information is unavailable for certain securities, pricing models produce estimates of fair value primarily using Level 2 inputs along with certain Level 3 inputs. These models include matrix pricing. The pricing matrix uses current U.S. Treasury rates and credit spreads received from third-party sources to estimate fair value. The credit spreads incorporate the issuer’s industry- or issuer-specific credit characteristics and the security’s time to maturity, if warranted. Remaining unpriced securities are valued using an estimate of fair value based on indicative market prices that include significant unobservable inputs not based on, nor corroborated by, market information, including the utilization of non-binding broker quotes. The roll-forward of the Level 3 assets measured at fair value on a recurring basis was as follows: Year ended December 31, 2020 2019 (In thousands) Level 3 assets, beginning of period $ 585 $ 921 Net unrealized gains (losses) included in other comprehensive income 3 (18 ) Realized gains (losses) and accretion (amortization) recognized in earnings 39 (52 ) Purchases 2,975 - Settlements (1,555 ) (197 ) Transfers into Level 3 - 424 Transfers out of Level 3 - (493 ) Level 3 assets, end of period $ 2,047 $ 585 We obtain independent pricing quotes based on observable inputs as of the end of the reporting period for all securities in Level 2. Those inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, market bids/offers, quoted prices for similar instruments in markets that are not active, and other relevant data. We monitor these inputs for market indicators, industry and economic events. There were no material transfers between Level 1 and Level 3 during the years ended December 31, 2020 and 2019. The carrying values and estimated fair values of our financial instruments were as follows: December 31, 2020 December 31, 2019 Carrying value Estimated fair value Carrying value Estimated fair value (In thousands) Assets: Fixed-maturity securities (available-for-sale) $ 2,464,611 $ 2,464,611 $ 2,356,996 $ 2,356,996 Fixed-maturity security (held-to-maturity) (3) 1,346,350 1,606,208 1,184,370 1,299,102 Equity securities 38,023 38,023 40,684 40,684 Trading securities 16,300 16,300 43,233 43,233 Policy loans (3) 30,199 30,199 32,927 32,927 Deposit asset underlying 10% (3) 236,865 236,865 233,499 233,499 Separate accounts 2,659,520 2,659,520 2,485,745 2,485,745 Liabilities: Notes payable (1 ) ( 2) 374,415 399,377 374,037 395,522 Surplus note (1 ) ( 3) 1,345,772 1,596,599 1,183,728 1,296,972 Separate accounts 2,659,520 2,659,520 2,485,745 2,485,745 (1) Carrying value amounts shown are net of issuance costs. (2) Classified as level 2 fair value measurement. (3) Classified as level 3 fair value measurement. The fair values of financial instruments presented above are estimates of the fair values at a specific point in time using various sources and methods, including market quotations and a complex matrix system that takes into account issuer sector, quality, and spreads in the current marketplace. Financial Instruments Recognized at Fair Value in the Balance Sheet. Estimated fair values of investments in AFS securities are principally a function of current spreads and interest rates that are corroborated by independent third-party data. Therefore, the fair values presented are indicative of amounts we could realize or settle at the respective balance sheet date. We do not necessarily intend to dispose of or liquidate such instruments prior to maturity. Trading securities and equity securities, including common and nonredeemable preferred stocks, are carried at fair value. Segregated funds in separate accounts are carried at the underlying value of the variable insurance contracts, which is fair value. The carrying amounts for cash and cash equivalents, receivables, accrued investment income, accounts payable, cash collateral and payables for security transactions approximate their fair values due to the short-term nature of these instruments. Consequently, such financial instruments are not included in the above table.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Reinsurance	(6) Reinsurance We use reinsurance extensively, which has a significant effect on our results of operations. Reinsurance arrangements do not relieve us of our primary obligation to the policyholder. Our reinsurance contracts typically do not have a fixed term. In general, the reinsurers’ ability to terminate coverage for existing cessions is limited to such circumstances as material breach of contract or nonpayment of premiums by the ceding company. Our reinsurance contracts generally contain provisions intended to provide the ceding company with the ability to cede future business on a basis consistent with historical terms. However, either party may terminate any of the contracts with respect to the future business upon appropriate notice to the other party. Generally, the reinsurance contracts do not limit the overall amount of the loss that can be incurred by the reinsurer. Our policy is to limit the amount of life insurance retained on the life of any one person to $1 million. To limit our exposure with any one reinsurer, we monitor the concentration of credit risk we have with our reinsurance counterparties, as well as their financial condition. Reinsurance recoverables represents ceded policy reserve balances and ceded claim liabilities. The amounts of ceded claim liabilities included in reinsurance recoverables that we paid and which are recoverable from those reinsurers were $24.3 million and $24.3 million as of December 31, 2020 and 2019, respectively. Benefits and claims ceded to reinsurers for 2020, 2019, and 2018 were $1,653.6 million, $1,311.3 million, and $1,279.0 million, respectively. In connection with our corporate reorganization that included an initial public offering (“IPO”) of our common stock by Citigroup, Inc. (“Citigroup”), Primerica Life, Primerica Life Canada and NBLIC entered into significant coinsurance transactions (the “IPO coinsurance agreements”) on March 30, 2010 with three insurance companies then affiliated with Citigroup (collectively, the “IPO coinsurers”). Under the IPO coinsurance agreements, we ceded between 80% and 90% of the risks and rewards of our term life insurance policies in force at year-end 2009. Because these agreements were part of a business reorganization among entities under common control, they did not generate any deferred gain or loss upon their execution. Concurrent with signing these agreements, we transferred the corresponding account balances in respect of the coinsured policies along with the assets to support the statutory liabilities assumed by the IPO coinsurers. Each of the account balances transferred were at book value with no gain or loss recorded in net income. Beginning in 2017, policies reaching the end of their initial term period are no longer ceded under the IPO coinsurance transactions, but the existing YRT reinsurance already in place prior to the IPO will continue. Three of the IPO coinsurance agreements satisfy U.S. GAAP risk transfer rules. Under these agreements, we ceded between 80% and 90% of our term life future policy benefit reserves, and we transferred a corresponding amount of assets to the IPO coinsurers. These transactions did not impact our future policy benefit reserves. As such, we have recorded an asset for the same amount of risk transferred in reinsurance recoverables. We also reduced DAC by a corresponding amount, which reduces future amortization expenses. In addition, we are transferring between 80% and 90% of all future premiums and benefits and claims associated with these policies to the corresponding reinsurance entities. We receive ongoing ceding allowances, which are reflected as a reduction to insurance expenses, to cover policy and claims administration expenses as well as certain corporate overhead charges under each of these reinsurance contracts. In the 10% Coinsurance Agreement, we ceded to Prime Reinsurance Company (“Prime Re”), an affiliate of Citigroup, 10% of our U.S. (except New York) term life insurance business in force at year-end 2009 subject to an experience refund provision. As the 10% Coinsurance Agreement includes an experience refund provision, it does not satisfy U.S. GAAP risk transfer rules. As a result, we have accounted for this contract using deposit method accounting and have recognized a deposit asset in other assets on our consolidated balance sheets for assets backing the economic reserves. The deposit asset held in support of this agreement was $236.9 million and $233.5 million at December 31, 2020 and 2019, respectively. We make contributions to the deposit asset during the life of the agreement to fulfill our responsibility of funding the economic reserve. The market return on the deposit asset is reflected in net investment income during the life of the agreement. Prime Re is responsible for ensuring that there are sufficient assets to meet all statutory requirements. The finance charge on the statutory reserves in excess of economic reserves funded by Prime Re in support of the 10% Coinsurance Agreement is 0.5% per annum and is reflected in interest expense in our consolidated statements of income. The following table represents the Company’s in-force life insurance as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 (Dollars in thousands) Direct life insurance in-force $ 861,392,223 $ 810,995,295 Amounts ceded to other companies (742,356,917 ) (702,727,956 ) Net life insurance in-force $ 119,035,306 $ 108,267,339 Percentage of reinsured life insurance in-force 86 % 87 % Reinsurance recoverables includes ceded reserve balances and ceded claim liabilities. Reinsurance recoverables and financial strength ratings by reinsurer were as follows: December 31, 2020 December 31, 2019 Reinsurance recoverables A.M. Best rating Reinsurance recoverables A.M. Best rating (In thousands) Pecan Re Inc. (1) (2) $ 2,654,698 NR $ 2,696,924 NR SCOR Global Life Reinsurance Companies (3) 395,804 A+ 352,049 A+ Munich Re of Malta (2) (5) 285,350 NR 286,433 NR Swiss Re Life & Health America Inc. (4) 251,409 A+ 233,572 A+ American Health and Life Insurance Company (2) 163,082 B++ 167,471 B++ Munich American Reassurance Company 137,312 A+ 118,372 A+ Korean Reinsurance Company 123,568 A 108,410 A RGA Reinsurance Company 125,492 A+ 100,328 A+ Hannover Life Reassurance Company 41,201 A+ 33,772 A+ TOA Reinsurance Company 34,212 A 26,160 A All other reinsurers 68,920 - 48,679 - Allowance for credit losses (7,144 ) (2,347 ) Reinsurance recoverables $ 4,273,904 $ 4,169,823 NR – not rated (1) Pecan Re Inc. (“Pecan Re”) is a wholly owned subsidiary of Swiss Re Life & Health America Inc. (“Swiss Re”). (2) (3) Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies. (4) (5) Certain reinsurers with which we do business receive group ratings. Individually, those reinsurers are SCOR Global Life Americas Reinsurance Company, SCOR Global Life U.S.A. Reinsurance Company, SCOR Global Life Re Insurance Company of Delaware, and SCOR Global Life of Canada. The IPO coinsurance agreements include provisions to ensure that Primerica Life, Primerica Life Canada and NBLIC receive full regulatory credit for the reinsurance treaties. Under these agreements, the ceded business can be recaptured with no fee in the event the IPO coinsurers do not comply with the various safeguard provisions in their respective IPO coinsurance agreements. Pecan Re also has entered into a capital maintenance agreement requiring Swiss Re to provide additional funding, if needed, at any point during the term of the agreement up to the maximum as described in the capital maintenance agreement. The rollforward of the allowance for credit losses on reinsurance recoverables for the year ended December 31, 2020 was as follows: Year ended December 31, 2020 (In thousands) Balance, beginning of period (1) $ 3,917 Current period provision for expected credit losses 3,235 Less: Recoveries of expected credit losses previously recorded (8 ) Balance, at the end of period $ 7,144 (1) Prior to the adoption of ASC 326, credit losses on reinsurance recoverables were recognized based on an incurred loss model that recognized credit losses if probable and reasonably estimable. For the year ended December 31, 2019, we recognized credit losses of $2.3 million for claims ceded on a closed block of business as a result of one of our reinsurance counterparties being ordered into receivership.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	(7) Deferred Policy Acquisition Costs We defer incremental direct costs of successful contract acquisitions that result directly from and are essential to the contract transaction(s) and that would not have been incurred had the contract transaction(s) not occurred. The amortization of DAC associated with term life insurance policies uses assumptions regarding persistency, expenses, interest rates and mortality consistent with the assumptions used to calculate future policy benefit reserves. These assumptions may not be modified, or unlocked, unless recoverability testing deems them to be inadequate. We update assumptions for new business to reflect the most recent experience. For DAC associated with Canadian segregated funds, the assumptions used in determining amortization expense are evaluated regularly and are updated if actual experience or other evidence suggests revisions to earlier estimates are appropriate. DAC amortization for term life insurance policies is affected by differences between the original assumptions used for persistency, expenses, interest rates and claims and actual results and are recognized in the period in which the change occurs. For policies underlying the Canadian segregated funds, gross profits and the resulting DAC amortization will vary with actual fund returns, redemptions and expenses. DAC is subject to recoverability testing annually and when impairment indicators exist. The recoverability of DAC is dependent on the future profitability of the related policies, which, in turn, is dependent principally upon mortality, persistency, investment returns, and the expense of administering the business, as well as upon certain economic variables, such as inflation. The balances and activity in DAC were as follows: Year ended December 31, 2020 2019 2018 (In thousands) DAC balance, beginning of period $ 2,325,750 $ 2,133,920 $ 1,951,892 Capitalization 522,705 433,769 441,874 Amortization (224,321 ) (254,552 ) (239,730 ) Foreign exchange translation and other 5,510 12,613 (20,116 ) DAC balance, end of period $ 2,629,644 $ 2,325,750 $ 2,133,920

Separate Accounts

Separate Accounts	12 Months Ended
	Dec. 31, 2020
Separate Accounts Disclosure [Abstract]
Separate Accounts	(8) Separate Accounts The Funds primarily consist of a series of branded investment funds known as the Asset Builder Funds, a registered retirement fund known as the Strategic Retirement Income Fund (“SRIF”), and a money market fund known as the Cash Management Fund. The principal investment objective of the Asset Builder Funds is to achieve long-term growth while preserving capital. The principal objective of the SRIF is to provide a stream of investment income during retirement plus the opportunity for modest capital appreciation. The Asset Builder Funds and the SRIF use diversified portfolios of publicly-traded Canadian stocks, investment-grade corporate bonds, Government of Canada bonds, and foreign equity investments to achieve their objectives. The Cash Management Fund invests in government guaranteed short-term bonds and short-term commercial and bank papers, with the principal investment objective being the provision of interest income while maintaining liquidity and preserving capital. Under these contract offerings, benefit payments to contract holders or their designated beneficiaries are only due upon death of the annuitant or upon reaching a specific maturity date. Benefit payments are based on the value of the contract holder’s units in the portfolio at the payment date, but are guaranteed to be no less than 75% of the contract holder’s contribution, adjusted for withdrawals. Account values are not guaranteed for withdrawn units if contract holders make withdrawals prior to the maturity dates. Maturity dates for contracts investing in the Asset Builder Funds and Cash Management Fund vary by contract and range from 10 years from the contract issuance date to December 31, 2070. Contracts investing in the SRIF mature when the policyholder reaches age 100, which is a minimum of 20 years after issue. The SRIF is designed to provide periodic retirement income payments and as such, regular withdrawals, subject to legislated minimums, are anticipated. The cumulative effects of the periodic withdrawals are expected to substantially reduce both account and minimum guaranteed values prior to maturity. Both the asset and the liability for the separate accounts reflect the net value of the underlying assets in the portfolio as of the reporting date. Primerica Life Canada’s exposure to losses under the guarantee at the time of account maturity is limited to contract holder accounts that have declined in value more than 25%, adjusted for withdrawals, since the contribution date prior to maturity. Because maturity dates are of a long-term nature, the likelihood guarantee payments are required at any given point is very small. Additionally, the portfolios consist of a very large number of individual contracts, further spreading the risk related to the guarantee being exercised upon death. The length of the contract terms provides significant opportunity for the underlying portfolios to recover any short-term losses prior to maturities or deaths of the contract holders. Furthermore, the Funds’ investment allocations are aligned with the maturity risks of the related contracts and include investments in Government Strip Bonds and floating-rate notes. We periodically assess the exposure related to these contracts to determine whether any additional liability should be recorded. As of December 31, 2020 and 2019, an additional liability for these contracts was deemed to be unnecessary. The following table represents the fair value of assets supporting separate accounts by major investment category: Year ended December 31, 2020 2019 (In thousands) Fixed-income securities $ 1,212,275 $ 970,098 Equity securities 1,362,399 1,318,351 Cash and cash equivalents 87,046 199,723 Due to/from funds (2,251 ) (2,489 ) Other 51 62 Total separate accounts assets $ 2,659,520 $ 2,485,745

Policy Claims and Other Benefit

Policy Claims and Other Benefits Payable	12 Months Ended
	Dec. 31, 2020
Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense [Abstract]
Policy Claims and Other Benefits Payable	(9) Policy Claims and Other Benefits Payable Changes in policy claims and other benefits payable were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Policy claims and other benefits payable, beginning of period $ 339,954 $ 313,862 $ 307,401 Less reinsured policy claims and other benefits payable 388,797 318,653 322,137 Net balance, beginning of period (48,843 ) (4,791 ) (14,736 ) Incurred related to current year 236,157 186,857 176,854 Incurred related to prior years (1) (4,033 ) (869 ) (1,355 ) Total incurred 232,124 185,988 175,499 Claims paid related to current year, net of reinsured policy claims received (268,914 ) (244,997 ) (187,453 ) Reinsured policy claims received related to prior years, net of claims paid 60,144 14,614 22,426 Total paid (208,770 ) (230,383 ) (165,027 ) Foreign currency translation 170 343 (527 ) Net balance, end of period (25,319 ) (48,843 ) (4,791 ) Add reinsured policy claims and other benefits payable 545,030 388,797 318,653 Balance, end of period $ 519,711 $ 339,954 $ 313,862 (1) Includes the difference between our estimate of claims incurred but not yet reported at year end and the actual incurred claims reported after year end. See Note 1 (Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies) for details regarding the accounting for policyholder liabilities.

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	(10) Debt Notes Payable. Notes payable consisted of the following: December 31, 2020 December 31, 2019 (In thousands) 4.75% Senior Notes, due July 15, 2022 $ 375,000 $ 375,000 Unamortized issuance discount on notes payable (107 ) (174 ) Total notes payable $ 374,893 $ 374,826 As of December 31, 2020, we had $375.0 million in principal amount of publicly-traded, senior unsecured notes (the “Senior Notes”). The Senior Notes were issued in 2012 at a price of 99.843% of the principal amount with an annual interest rate of 4.75%, payable semi-annually in arrears on January 15 and July 15, and are scheduled to mature on July 15, 2022. As of December 31, 2020, we were in compliance with the covenants of the Senior Notes. No events of default occurred on the Senior Notes during the year ended December 31, 2020. As unsecured senior obligations, the Senior Notes rank equally in right of payment with all existing and future unsubordinated indebtedness and senior to all existing and future subordinated indebtedness of the Parent Company. The Senior Notes are structurally subordinated in right of payment to all existing and future liabilities of our subsidiaries. In addition, the Senior Notes contain covenants that restrict our ability to, among other things, create or incur any indebtedness that is secured by a lien on the capital stock of certain of our subsidiaries, and merge, consolidate or sell all or substantially all of our properties and assets. Surplus Note. As of December 31, 2020, the principal amount outstanding on the Surplus Note issued by Vidalia Re was $1.3 billion, which is equal to the principal amount of the LLC Note. The principal amount of both the Surplus Note and the LLC Note will fluctuate over time to coincide with the amount of policy reserves being contractually supported under the Vidalia Re Coinsurance Agreement. Both the LLC Note and the Surplus Note mature on December 31, 2030 and bear interest at an annual interest rate of 4.50%. Based on the estimated reserves for policies issued in 2011 through 2017 that have been ceded under the Vidalia Re Coinsurance Agreement, the principal amounts of the Surplus Note and the LLC Note are expected to reach $1.5 billion each. This financing arrangement is non-recourse to the Parent Company and Primerica Life, meaning that neither of these companies has guaranteed the Surplus Note or is otherwise liable for reimbursement for any payments triggered by the LLC Note’s credit enhancement feature. The Parent Company has agreed to support Vidalia Re’s obligation to pay the credit enhancement fee incurred on the LLC Note. See Note 4 (Investments) for more information on the LLC Note. Revolving Credit Facility. We maintain an unsecured $200.0 million revolving credit facility (“Revolving Credit Facility”) with a syndicate of commercial banks that has a scheduled termination date of December 19, 2022. Amounts outstanding under the Revolving Credit Facility bear interest at a periodic rate equal to LIBOR or the base rate, plus in either case an applicable margin. The Revolving Credit Facility contains language that allows for the Company and the lenders to agree on a comparable or successor reference rate in the event LIBOR is not available. The Revolving Credit Facility also permits the issuance of letters of credit. The applicable margins are based on our debt rating with such margins for LIBOR rate loans and letters of credit ranging from 1.125 redit Facility. As of December 31, 2020, no amounts have been drawn under the Revolving Credit Facility and we were in compliance with its covenants. Furthermore, no events of default have occurred under the Revolving Credit Facility during the year ended December 31, 2020.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	(11) Income Taxes Income tax expense. Income tax expense (benefit) consists of the following: Current Deferred Total (In thousands) Year ended December 31, 2020 Federal $ 88,837 $ 853 $ 89,690 Foreign 26,749 (547 ) 26,202 State and local 4,714 (40 ) 4,674 Total tax expense $ 120,300 $ 266 $ 120,566 Year ended December 31, 2019 Federal $ 76,289 $ 6,628 $ 82,917 Foreign 32,239 (7,469 ) 24,770 State and local 3,033 - 3,033 Total tax expense $ 111,561 $ (841 ) $ 110,720 Year ended December 31, 2018 Federal $ 50,691 $ 17,399 $ 68,090 Foreign 36,028 (14,809 ) 21,219 State and local 2,681 - 2,681 Total tax expense $ 89,400 $ 2,590 $ 91,990 Effective tax rate reconciliation. Total income tax expense is different from the amount determined by multiplying income before income taxes by the U.S. statutory federal tax rate of 21% for the years ended December 31, 2020 and 2019 and 2018. The reconciliation for such difference follows: Year ended December 31, 2020 2019 2018 Amount Percentage Amount Percentage Amount Percentage (Dollars in thousands) Computed tax expense $ 106,413 21.0 % $ 100,193 21.0 % $ 87,378 21.0 % Difference between foreign statutory rate and U.S. statutory rate 5,075 1.0 % 4,898 1.0 % 4,474 1.1 % Recognition of foreign tax credits - — % - — % (6,069 ) (1.5 )% Change in valuation allowance on foreign tax credits - — % - — % 6,069 1.5 % Other 9,078 1.8 % 5,629 1.2 % 138 — % Total tax expense / effective rate $ 120,566 23.8 % $ 110,720 23.2 % $ 91,990 22.1 % Deferred tax assets and liabilities. The main components of deferred income tax assets and liabilities were as follows: December 31, 2020 2019 (In thousands) Deferred tax assets: Future policy benefit reserves and unpaid policy claims $ 285,926 $ 245,247 Future deductible liabilities 18,933 17,920 Foreign tax credits 46,455 46,455 Other 35,320 41,615 Total deferred tax assets before valuation allowance 386,634 351,237 Valuation allowance on foreign tax credits (46,455 ) (46,455 ) Total deferred tax assets after valuation allowance $ 340,179 $ 304,782 Deferred tax liabilities: Deferred policy acquisition costs (352,312 ) (314,969 ) Investments (32,316 ) (17,630 ) Reinsurance deposit asset (49,742 ) (49,035 ) Other (39,002 ) (42,675 ) Total deferred tax liabilities (473,372 ) (424,309 ) Net deferred tax liabilities $ (133,193 ) $ (119,527 ) The majority of total deferred tax assets are attributable to future policy benefit reserves and unpaid policy claims, which represents the difference between the financial statement carrying value and tax basis for liabilities related to future policy benefits. The tax basis for future policy benefit reserves and unpaid policy claims is actuarially determined in accordance with guidelines set forth in the respective jurisdictional tax codes in the U.S. and Canada. The majority of total deferred tax liabilities are attributable to DAC, which represents the difference between the policy acquisition costs capitalized for U.S. GAAP purposes and those capitalized for tax purposes, as well as the difference in the resulting amortization methods. The Company has state net operating losses resulting in a deferred tax asset of approximately $10.3 million, which are available for use through 2037. The Company has no other material net operating loss or credit carryforwards other than foreign tax credit carryforwards. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, carryback and carryforward periods, and tax planning strategies in making this assessment. As of December 31, 2020, management identified excess foreign tax credits of approximately $46.5 million that could not be used to offset the mandatory deemed repatriation of foreign earnings tax stipulated by the Tax Cuts and Jobs Act of 2017 and believes it will not be able to utilize these foreign tax credits in the future. Therefore, the Company established a deferred tax asset for these foreign tax credits with a corresponding full valuation allowance. These foreign tax credits are available for use through 2027. With the exception of these foreign tax credits, management believes that it is more likely than not that the results of future operations will generate sufficient taxable income to realize its deferred tax assets. Therefore, there were no other deferred tax asset valuation allowances as of December 31, 2020 or 2019. Controlled foreign corporations . The Company has direct ownership of a group of controlled foreign corporations in Canada. We have not made a permanent reinvestment assertion for any unremitted earnings in Canada; therefore, we have recorded a deferred tax liability to account for Canadian withholding taxes that will occur upon repatriation of such earnings and we continue to record deferred tax liabilities to account for Canadian withholding taxes as earnings are recognized. The Company has no intentions to sell or substantially liquidate our Canadian operations and, therefore, has not provided for any additional outside basis difference for the amount of book basis in excess of tax basis in its Canadian subsidiaries. In addition, it is not practicable to determine the amount of the unrecognized deferred tax liability related to any additional outside basis difference in these entities. Unrecognized tax benefits. The total amount of unrecognized benefits on uncertain tax positions that, if recognized, would affect our effective tax rate was approximately $16.0 million and $14.7 million as of December 31, 2020 and 2019, respectively. We recognize interest expense related to unrecognized tax benefits in tax expense net of federal income tax. The total amount of accrued interest and penalties in the consolidated balance sheets was $2.8 million and $2.3 million as of December 31, 2020 and 2019, respectively. Additionally, we recognized less than $0.3 million of interest expense related to unrecognized tax benefits in the consolidated statements of income for the years ended December 31, 2020, 2019 and 2018. A reconciliation of the change in the unrecognized income tax benefit for the years ended December 31, 2020 and 2019 is as follows: December 31, 2020 2019 (In thousands) Unrecognized tax benefits, beginning of period $ 15,805 $ 15,173 Change in prior period unrecognized tax benefits 40 (583 ) Change in current period unrecognized tax benefits 3,296 3,036 Reductions as a result of a lapse in statute of limitations (2,037 ) (1,821 ) Unrecognized tax benefits, end of period $ 17,104 $ 15,805 We have an immaterial amount of penalties included in calculating our provision for income taxes. There is no significant change that is reasonably possible to occur within twelve months of the reporting date. The major tax jurisdictions in which we operate are the United States and Canada. We are currently open to tax audit by the Internal Revenue Service for the year ended December 31, 2017 and thereafter for federal income tax purposes. We are currently open to audit in Canada for tax years ended December 31, 2016 and thereafter for federal and provincial income tax purposes.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Stockholders Equity Note [Abstract]
Stockholders' Equity	(12) Stockholders’ Equity A reconciliation of the number of shares of our common stock follows: Year ended December 31, 2020 2019 2018 (In thousands) Common stock, beginning of period 41,207 42,694 44,251 Shares issued for stock options exercised - 4 33 Shares of common stock issued upon lapse of RSUs 335 438 528 Common stock retired (2,236 ) (1,929 ) (2,118 ) Common stock, end of period 39,306 41,207 42,694 The above reconciliation excludes RSUs and PSUs, which do not have voting rights. As sales restrictions on RSUs lapse and PSUs are earned, we issue common shares with voting rights. As of December 31, 2020, we had a total of 289,371 RSUs and 81,796 PSUs outstanding. The PSU outstanding balance is based on the number of PSUs granted pursuant to the award agreement; however, the actual number of common shares earned could be higher or lower based on actual versus targeted performance. See Note 14 (Share Based Transactions) for a discussion of the PSU award structure. On February 10, 2020 our Board of Directors authorized a share repurchase

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	(13) Earnings Per Share The Company has outstanding common stock and equity awards that consist of RSUs, PSUs and stock options. The RSUs maintain non-forfeitable dividend rights that result in dividend payment obligations on a one-to-one ratio with common shares for any future dividend declarations. Unvested RSUs are deemed participating securities for purposes of calculating EPS as they maintain dividend rights. We calculate EPS using the two-class method. Under the two-class method, we allocate earnings to common shares and vested RSUs outstanding for the period. Earnings attributable to unvested participating securities, along with the corresponding share counts, are excluded from EPS as reflected in our consolidated statements of income. In calculating basic EPS, we deduct from net income any dividends and undistributed earnings allocated to unvested RSUs and then divide the result by the weighted-average number of common shares and vested RSUs outstanding for the period. We determine the potential dilutive effect of PSUs and stock options outstanding (“contingently-issuable shares”) on EPS using the treasury-stock method. Under this method, we determine the proceeds that would be received from the issuance of the contingently- issuable shares if the end of the reporting period were the end of the contingency period. The proceeds from the contingently-issuable shares include the remaining unrecognized compensation expense of the awards and the cash received for the exercise price on stock options. We then use the average market price of our common shares during the period the contingently-issuable shares were outstanding to determine how many shares we could repurchase with the proceeds raised from the issuance of the contingently-issuable shares. The net incremental share count issued represents the potential dilutive securities. We then reallocate earnings to common shares and vested RSUs by incorporating the increased fully-diluted share count to determine diluted EPS. The calculation of basic and diluted EPS was as follows: Year ended December 31, 2020 2019 2018 (In thousands, except per-share amounts) Basic EPS: Numerator: Net income $ 386,164 $ 366,391 $ 324,094 Income attributable to unvested participating securities (1,671 ) (1,654 ) (1,893 ) Net income used in calculating basic EPS $ 384,493 $ 364,737 $ 322,201 Denominator: Weighted-average vested shares 40,065 42,181 43,854 Basic EPS $ 9.60 $ 8.65 $ 7.35 Diluted EPS: Numerator: Net income $ 386,164 $ 366,391 $ 324,094 Income attributable to unvested participating securities (1,667 ) (1,650 ) (1,888 ) Net income used in calculating diluted EPS $ 384,497 $ 364,741 $ 322,206 Denominator: Weighted-average vested shares 40,065 42,181 43,854 Dilutive effect of incremental shares to be issued for contingently-issuable shares 120 133 131 Weighted-average shares used in calculating diluted EPS 40,185 42,314 43,985 Diluted EPS $ 9.57 $ 8.62 $ 7.33

Share-Based Transactions

Share-Based Transactions	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Transactions	(14) Share-Based Transactions The Company has outstanding equity awards under the Primerica, Inc. Second Amended and Restated 2010 Omnibus Incentive Plan (“2010 OIP”), which expired in 2020 in accordance with its terms and under which no future awards will be made, and the Primerica, Inc. 2020 Omnibus Incentive Plan (the “2020 OIP”, and together with the 2010 OIP, the “OIP”), which was approved by the Company’s stockholders on May 13, 2020. The OIP provides for the issuance of equity awards, including stock options, stock appreciation rights, restricted stock, deferred stock, RSUs, PSUs, and stock payment awards, as well as cash-based awards. In addition to time-based vesting requirements, awards granted under the OIP may also be subject to specified performance criteria. Under the OIP, the Company issues equity awards to our management (officers and other key employees), non-employees who served on our Board of Directors, and sales force leaders. As of December 31, 2020, we had 1.9 million shares available for future grants under the 2020 OIP. Employee and Director Share-Based Compensation. As of December 31, 2020, the Company had outstanding RSUs, PSUs, and stock options issued to our management (officers and other key employees), as well as RSUs issued to our directors, under the OIP. RSUs. • RSUs granted to management generally have time-based vesting requirements with equal and annual graded vesting over approximately three years subsequent to the grant date, but also generally vest upon voluntary termination of employment by any employee who is “retirement eligible” as of his or her termination date. In order to be retirement eligible, an employee must be at least 55 years old and his or her age plus years of service with the Company must equal at least 75. • RSUs granted to directors have time-based vesting requirements with equal and quarterly graded vesting over four quarters • In addition, certain directors elected to defer their cash and/or equity retainers into deferred RSUs, which vest immediately or, if applicable, on the dates the RSUs would have vested. All of our outstanding employee and director RSU awards are eligible for dividend equivalents regardless of vesting status. We recognized expense and tax benefit offsets as follows for employee and director RSU share-based compensation: Year ended December 31, 2020 2019 2018 (In thousands) Total equity awards expense recognized $ 11,218 $ 10,557 $ 10,684 Tax benefit associated with total employee and director share-based compensation 1,455 1,434 1,495 The following table summarizes employee and director RSU activity during the years ended December 31, 2020, 2019, and 2018. Shares Weighted-average measurement-date fair value per share (Shares in thousands) Unvested employee and director RSUs, December 31, 2017 312 $ 59.10 Granted 106 100.00 Forfeited - (1 ) 82.20 Vested (186 ) 58.51 Unvested employee and director RSUs, December 31, 2018 232 78.22 Granted 93 123.04 Forfeited - (1 ) 104.38 Vested (145 ) 70.53 Unvested employee and director RSUs, December 31, 2019 180 107.59 Granted 94 119.03 Forfeited - (1 ) 121.42 Vested (108 ) 101.75 Unvested employee and director RSUs, December 31, 2020 166 117.87 (1) Less than 1,000 shares As of December 31, 2020, total compensation cost not yet recognized in our consolidated financial statements related to employee and director RSU awards with time-based vesting conditions yet to be reached was $4.3 million, and the weighted-average period over which cost will be recognized was 0.8 years. PSUs. The Company issued PSUs to certain of its executive officers under the OIP as part of their annual equity compensation. To date, PSU awards have included a performance target of a specified average annual Return on Adjusted Equity (“ROAE”) and EPS growth (starting with the 2020 award) for the Company over a three-year PSU awards provide for vesting upon the voluntary termination of employment by any employee who is “retirement eligible” as of his or her termination date. In connection with our granting of PSU awards, we recognized expense and tax benefit offsets as follows: Year ended December 31, 2020 2019 2018 (In thousands) Total employee PSU award expense $ 4,179 $ 3,516 $ 3,240 Tax benefit associated with total employee PSU award expense - - 191 The following table summarizes PSU activity during the years ended December 31, 2020, 2019, and 2018. Shares Weighted-average measurement-date fair value per share (Shares in thousands) Unvested employee PSUs, December 31, 2017 54 $ 67.42 Granted 31 100.55 Forfeited - - Vested - - Unvested employee PSUs, December 31, 2018 85 79.34 Granted 25 122.62 Forfeited - - Performance Adjustment 4 41.88 Vested (23 ) 41.88 Unvested employee PSUs, December 31, 2019 92 98.79 Granted 26 121.42 Forfeited - - Performance Adjustment 5 80.45 Vested (41 ) 80.45 Unvested employee PSUs, December 31, 2020 (1) 82 113.99 (1 ) The 2018 PSU awards outstanding are based on target. Based on the actual performance achieved during the three-year performance period ended December 31, 2020, recipients will receive an aggregate of 33,605 shares of common stock on the vesting date of March 1, 2021. The 2019 PSU awards outstanding are based on target. Depending upon the performance achieved during the performance period, recipients may receive between 0 and 38,225 shares of common stock. The 2020 PSU awards outstanding are based on target. Depending upon the performance achieved during the performance period, recipients may receive between 0 and 38,601 shares of common stock. As of December 31, 2020 total unrecognized compensation related PSU awards was $0.7 million, and the weighted-average period over which cost was 0.8 years. Stock Options. From 2013 to 2016, the Company issued stock options to certain of its executive officers under the OIP as part of their annual equity compensation. Stock options were granted with an exercise price equal to the fair market value of our common stock on the grant date, and they expire 10 years from the date of grant. These options had time-based restrictions with equal and annual graded vesting over a three-year Compensation expense and related tax benefits recognized for stock option awards were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Expense recognized for stock option awards $ - $ 6 $ 39 Tax benefit recognized for stock option awards - - 8 The following table summarizes activity related to stock options outstanding and exercisable during the years ended December 31, 2020, 2019, and 2018: Outstanding Exercisable Number of shares Weighted average exercise price Number of shares Weighted average exercise price (Shares in thousands) Outstanding at December 31, 2017 107 $ 45.15 32 $ 47.26 Granted - - Exercised (33 ) 47.59 Outstanding at December 31, 2018 74 44.07 44 45.55 Granted - - Exercised (4 ) 41.20 Outstanding at December 31, 2019 70 44.23 70 44.23 Granted - - Exercised - - Outstanding at December 31, 2020 70 44.23 70 44.23 Range of granted option exercise prices outstanding at December 31, 2020 $41.20 (average term remaining - 3.1 years) 3 $ 41.20 3 $ 41.20 $53.50 (average term remaining - 4.2 years) 14 53.50 14 53.50 $41.88 (average term remaining - 5.2 years) 52 41.88 52 41.88 The aggregate intrinsic value represents the difference between the exercise price of our stock options and the quoted closing price of our common stock. The aggregate intrinsic value of exercisable stock options was $6.3 million as of December 31, 2020, which represents the aggregate intrinsic value of stock options outstanding. The intrinsic value, tax benefit realized and value of shares withheld related to option exercise activity are summarized as follows: Year ended December 31, 2020 2019 2018 (In thousands) Intrinsic value of options exercised $ - $ 369 $ 1,953 Tax benefit realized from the options exercised - - - Value of issued shares withheld to satisfy option exercise price - 161 1,562 As of December 31, 2020, there was no unrecognized compensation cost related to outstanding options. Non-Employee Share-Based Compensation. Non-employee share-based transactions relate to the granting of RSUs to members of the sales force (“agent equity awards”). Agent equity awards are generally granted as a part of quarterly contests for successful life insurance policy acquisitions and for sales of investment and savings products for which the grant and the service period occur within the same quarterly reporting period. The following table summarizes non-employee RSU activity during the years ended December 31, 2020, 2019, and 2018. Shares Weighted-average measurement-date fair value per share (Shares in thousands) Unvested non-employee RSUs, December 31, 2017 32 $ 91.88 Granted 124 102.43 Vested (122 ) 101.01 Unvested non-employee RSUs, December 31, 2018 34 97.71 Granted 105 124.51 Vested (115 ) 115.01 Unvested non-employee RSUs, December 31, 2019 24 132.68 Granted 128 106.65 Vested (126 ) 105.71 Unvested non-employee RSUs, December 31, 2020 26 134.75 Agent equity awards are measured using the fair market value at the grant date and vest during the service period, which occur within the same quarterly reporting period. To the extent that these awards are an incremental direct cost of successful acquisitions of life insurance policies that result directly from and are essential to the policy acquisition(s) and would not have been incurred had the policy acquisition(s) not occurred, we defer and amortize the fair value of the awards in the same manner as other deferred policy acquisition costs. All agent equity awards that are not directly related to the acquisition of life insurance policies are recognized as expense in the quarter granted and earned. Details on the granting and valuation of these awards were as follows: Year ended December 31, 2020 2019 2018 (Dollars in thousands, except per-share amounts) Quarterly incentive awards expense recognized currently $ 3,630 $ 3,441 $ 3,288 Quarterly incentive awards expense deferred 10,071 9,663 9,484 Tax benefit associated with incentive awards 2,692 2,465 2,437 As of December 31, 2020, all agent equity awards were fully vested with the exception of approximately 26 thousand shares that will vest on January 1, 2021.

Statutory Accounting and Divide

Statutory Accounting and Dividend Restrictions	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Statutory Accounting and Dividend Restrictions	(15) Statutory Accounting and Dividend Restrictions U.S. Insurance Subsidiaries. Our two underwriting U.S. insurance subsidiaries are Primerica Life and NBLIC. Primerica Life wholly owns Peach Re and Vidalia Re, and ceded to each in separate coinsurance arrangements certain level-premium term life insurance policies. Our U.S. insurance subsidiaries are required to report their results of operations and financial position to state authorities on the basis of statutory accounting practices prescribed or permitted by such authorities and the National Association of Insurance Commissioners (“NAIC”), which is a comprehensive basis of accounting other than U.S. GAAP. Prescribed statutory accounting practices include a variety of publications of the NAIC, as well as state laws, regulations and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed. The Company’s principal life insurance company, Primerica Life, prepares its statutory financial statements on the basis of accounting practices prescribed or permitted by the NAIC and the Tennessee Department of Commerce and Insurance (“Tennessee DOCI”) and includes the statutory financial statements of its wholly owned insurance subsidiaries, NBLIC, Peach Re, and Vidalia Re. NBLIC’s statutory financial statements are prepared on the basis of accounting practices prescribed or permitted by the NAIC or the New York State Department of Financial Services, while the statutory financial statements of Peach Re and Vidalia Re are prepared on the basis of accounting practices prescribed or permitted by the NAIC or the Vermont Department of Financial Regulation (“Vermont DOI”). Our U.S. insurance subsidiaries’ ability to pay dividends to their parent is subject to and limited by the various laws and regulations of their respective states. There are no regulatory restrictions on the ability of the Parent Company to pay dividends (other than limitations under the Delaware General Corporation Law that provide that dividends on common stock shall be declared by the Board of Directors out of surplus or, if there is no surplus, out of net profits for the fiscal year in which the dividend is declared and/or the preceding prior fiscal year). Primerica Life’s statutory ordinary dividend capacity is based on the greater of: (1) the previous year’s statutory net gain from operations (excluding pro rata distributions of any class of the insurer’s own securities) or (2) 10% of the previous year-end statutory surplus (net of capital stock). Dividends that, together with the amount of other distributions or dividends made within the preceding 12 months, exceed this statutory limitation are referred to as extraordinary dividends and require advance notice to the Tennessee DOCI, and are subject to potential disapproval. Dividends paid from other than statutory unassigned surplus require approval of the commissioner of the Tennessee DOCI. Primerica Life’s statutory capital and surplus as of December 31, 2020 and 2019 were as follows: December 31, 2020 December 31, 2019 (In thousands) Statutory capital and surplus $ 650,114 $ 666,055 Primerica Life’s statutory net gain from operations was $395.4 million, $508.6 million, and $547.9 million for 2020, 2019 and 2018, respectively. Primerica Life made no pro rata distributions of any class of its own securities during 2020. During 2020, Primerica Life paid ordinary dividends of $170.0 million to the Parent Company. As of January 1, 2021, the amount of dividends Primerica Life could pay from statutory unassigned surplus without prior approval of the commissioner of the Tennessee DOCI was $152.4 million, which is prescribed by the amount of statutory unassigned surplus on that date. Primerica Life’s investment basis in NBLIC, Peach Re, and Vidalia Re reflect their statutory capital and surplus amounts recorded in accordance with statutory accounting practices prescribed or permitted by the NAIC and/or each subsidiary’s state of domicile; New York and Vermont. Peach Re was formed as a special-purpose financial captive insurance company and, with the explicit permission of the Vermont DOI, has included the value of a letter of credit serving as collateral for its policy reserves as an admitted asset in its statutory capital and surplus. This permitted accounting practice was critical to the organization and operational plans of Peach Re and explicitly included in the licensing order issued by the Vermont DOI. The impact of this permitted practice as of December 31, 2020 was $206.1 million on Peach Re’s statutory capital and surplus. As of December 31, 2020, even if Peach Re had not been permitted to include the letter of credit as an admitted asset, Primerica Life would not have been below the minimum statutory capital and surplus level that triggers a regulatory action event. There are no other permitted accounting practices that are not encompassed in prescribed statutory accounting practices. Canadian Insurance Subsidiary. Primerica Life Canada is incorporated under the provisions of the Canada Business Corporations Act and is a domiciled Canadian Company subject to regulation under the Insurance Companies Act (Canada) by the Office of the Superintendent of Financial Institutions in Canada (“OSFI”) and by Provincial Superintendents of Financial Institutions/Insurance in those provinces in which Primerica Life Canada is licensed. The statutory financial statements of Primerica Life Canada reported to OSFI are prepared in accordance with International Financial Reporting Standards (“IFRS”). Primerica Life Canada’s capacity to pay ordinary dividends to its parent is limited by OSFI regulations to the extent that its capital exceeds internal capital targets. OSFI requires companies to set internal target levels of capital sufficient to provide for all the risks of the insurer, including risks specified in OSFI’s capital guidelines. As of December 31, 2020 and 2019, Primerica Life Canada’s statutory capital and surplus satisfied regulatory requirements and was $506.1 million and $454.6 million, respectively. In Canada, dividends can typically be paid subject to the paying insurance company continuing to have adequate capital and forms of liquidity as defined by OSFI following the dividend payment and upon 15 days minimum notice to OSFI. However, in response to the COVID-19 pandemic, OSFI set the expectation that payment of dividends above amounts paid prior to March 2020 would be halted, unless otherwise approved by OSFI. Primerica Life Canada’s dividend capacity at January 1, 2021 was estimated to be $113.6 million, which was calculated based on satisfying the Company’s internal capital targets. However, Primerica Life Canada would currently be limited to annualized dividends of $23.6 million as a result of the dividend halt unless otherwise permitted by OSFI.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	(16) Commitments and Contingent Liabilities Letter of Credit. Peach Re maintains a Credit Facility Agreement with Deutsche Bank (the “Credit Facility Agreement”) to support certain obligations for a portion of the reserves (commonly referred to as Regulation XXX reserves) related to level premium term life insurance policies ceded to Peach Re from Primerica Life under the Peach Re Coinsurance Agreement. Under the Credit Facility Agreement, Deutsche Bank issued a letter of credit in the initial amount of $450.0 million with a term expiring on December 31, 2025 (the “LOC”) for the benefit of Primerica Life, the direct parent of Peach Re. Subject to certain conditions, the amount of the LOC periodically increased up to a maximum amount of approximately $507.0 million, which was reached in 2014. As of December 31, 2020, the amount outstanding under the LOC was $206.1 million. This amount will continue to decline over the remaining term of the LOC to correspond with declines in the Regulation XXX reserve. Pursuant to the terms of the Credit Facility Agreement, in the event amounts are drawn under the LOC by Primerica Life, Peach Re will be obligated, subject to certain limited conditions, to reimburse Deutsche Bank for the amount of any draws and interest thereon. Peach Re has collateralized its obligations to Deutsche Bank by granting it a security interest in all of its assets with the exception of amounts held in a special account established to meet minimum asset thresholds required by state regulatory authorities. As of December 31, 2020 , the Company was in compliance with all financial covenants under the Credit Facility Agreement. Contingent Liabilities. The Company is involved from time-to-time in legal disputes, regulatory inquiries and arbitration proceedings in the normal course of business. These disputes are subject to uncertainties, including the large and/or indeterminate amounts sought in certain of these matters and the inherent unpredictability of litigation. As such, the Company is unable to estimate the possible loss or range of loss that may result from these matters unless otherwise indicated.

Benefit Plan

Benefit Plan	12 Months Ended
	Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Benefit Plans	(17) Benefit Plans We sponsor a defined contribution plan for the benefit of our employees. The expense associated with this plan was approximately $10.0 million, $8.9 million, and $8.4 million in 2020, 2019, and 2018, respectively.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue from Contract with Customers	(18) Revenue from Contracts with Customers Our revenues from contracts with customers primarily include: • Commissions and fees earned for the marketing and distribution of investment and savings products underwritten by mutual fund companies and annuity providers. For purposes of revenue recognition, mutual fund companies and annuity providers are considered the customers in marketing and distribution arrangements. • Fees earned for investment advisory and administrative services within our managed investments program. • Account-based fees for transfer agent recordkeeping functions and non-bank custodial services. • Fees associated with the distribution of other third-party financial products. • Other revenue from the sale of miscellaneous products and services including monthly subscription fees from the sales representatives for access to POL, our primary sales force support tool. Premiums from insurance contracts we underwrite, fees received from segregated funds insurance contracts, and income earned on our invested assets are excluded from the definition of revenues from contracts with customers in accordance with U.S. GAAP. The disaggregation of our revenues from contracts with customers were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Term Life Insurance segment revenues: Other, net $ 46,079 $ 40,848 $ 42,374 Total segment revenues from contracts with customers 46,079 40,848 42,374 Revenues from sources other than contracts with customers 1,336,691 1,186,383 1,080,826 Total Term Life Insurance segment revenues $ 1,382,770 $ 1,227,231 $ 1,123,200 Investment and Savings Products segment revenues: Commissions and fees: Sales-based revenues $ 284,651 $ 282,887 $ 259,991 Asset-based revenues 282,080 260,451 245,295 Account-based revenues 83,041 80,555 81,802 Other, net 11,271 10,017 9,631 Total segment revenues from contracts with customers 661,043 633,910 596,719 Revenues from sources other than contracts with customers (segregated funds) 57,824 57,698 58,357 Total Investment and Savings Products segment revenues $ 718,867 $ 691,608 $ 655,076 Corporate and Other Distributed Products segment revenues: Commissions and fees (1) $ 43,675 $ 32,213 $ 32,162 Other, net 3,719 4,660 4,982 Total segment revenues from contracts with customers 47,394 36,873 37,144 Revenues from sources other than contracts with customers 68,510 96,792 84,423 Total Corporate and Other Distributed Products segment revenues $ 115,904 $ 133,665 $ 121,567 (1) Commissions and fees for the year ended December 31, 2020 and 2019 include $5.5 million and $5.5 million, respectively, attributable to performance obligations satisfied in a previous reporting period and represent the collection of variable consideration in the transaction price that had been previously constrained. We recognize revenue upon the satisfaction of the related performance obligation, unless the transaction price includes variable consideration that is constrained; in such case, we recognize revenue when the uncertainty associated with the constrained amount is subsequently resolved. Variable consideration is not treated as constrained to the extent it is probable that no significant reversal in the amount of cumulative revenue recognized will occur when the uncertainty associated with the variable consideration is resolved. We have no material obligations for refunds of commission and fees on contracts with customers subsequent to completion of our performance obligation. Investment and Savings Products Marketing and Distribution Services. We receive commissions and fees from mutual fund companies and annuity providers for the marketing and distribution by the licensed sales representatives of investment and savings products underwritten by such companies and providers. We recognize the sales-based marketing and distribution revenue received from such companies and providers at the point in time our performance obligation to them is satisfied, which is the trade date. The sales-based commissions from mutual fund companies and annuity providers are known and are due at the same time our performance obligation to such mutual fund companies and annuity providers is satisfied. We also receive ongoing asset-based commissions from mutual fund companies and annuity providers each reporting period based on client asset values. We do not recognize revenue for asset-based marketing and distribution commissions until the end of each subsequent reporting period when the amount becomes known and due from mutual fund companies or annuity providers as this revenue represents variable consideration that is fully constrained at the point in time our distinct performance obligation to mutual fund companies and annuity providers is satisfied. We consider variable consideration in the form of asset-based marketing and distribution commissions to be fully constrained as the amounts we will be entitled to collect are highly uncertain and susceptible to factors outside of our control. Such factors include the market values of assets under management and the length of time investors hold their accounts. Asset-based marketing and distribution commissions recognized during the current period are almost exclusively attributable to distinct performance obligations satisfied to mutual fund companies and annuity providers in previous periods. Investment Advisory and Administrative Services. We provide investment advisory and administrative services over time to investors in the managed investments program we offer. We recognize revenue as our performance obligation is satisfied over time for daily investment advisory and administrative services that are substantially the same and have the same pattern of delivery. Fees for these services, which are based on a percentage of client assets in the managed investments program, become known and are charged to investors during the same reporting period in which the daily investment advisory and administrative services are performed. Account-based Services. We provide distinct transfer agent recordkeeping services for certain mutual funds we distribute and non-bank custodial services to investors purchasing investment products we distribute through qualified retirement accounts in the United States. Fees charged for these account-based services consist primarily of a stated fee for each investment position or each qualified retirement account. Generally, our performance obligation for each account-based service arrangement is satisfied over time and is substantially the same with the same pattern of delivery. We recognize revenue to which we are entitled for each investment position or each qualified account over time based on the time-based pro-rata amount earned each reporting period. Distribution of Other Third-party Financial Products. We distribute various other financial products on behalf of third parties to consumers. We receive upfront commissions and/or renewal commissions from product providers for sales of other financial product sales we have arranged. We recognize revenue at the point in time our performance obligation to product providers is satisfied, which is generally on the date the financial product is purchased by the consumer from the product provider. For certain financial products, most notably prepaid legal subscriptions and auto and homeowners’ insurance referrals, we receive ongoing renewal commissions that coincide with recurring payments received by product providers from active subscribers or policyholders. Ongoing renewal commissions represent variable consideration that will not be resolved until after the reporting period in which our performance obligation has been satisfied. We estimate variable consideration in the transaction price for these financial products (with the exception of miscellaneous products for which we expect nominal ongoing commissions) as the expected amount of commissions to be received over the life of the subscription or referred policy and apply a constraint so that it is probable that a subsequent change in estimate will not result in a significant revenue reversal. Management judgment primarily is required to determine the average life of a subscription or referred policy, which we establish based on historical information. We recognize variable consideration in excess of the amount constrained in subsequent reporting periods when the uncertainty is resolved and the excess amounts are due from the product providers. Revenue for Other Services. We recognize revenue from the sale of other miscellaneous products and services, including monthly subscription fees from the sales representatives for access to POL, upon the transfer of the promised product or service. For POL subscriptions, we satisfy our performance obligation by providing subscribers access to the promised services over time during each monthly subscription period. Revenue recognized from the sale of other miscellaneous products and services becomes known and charged at the same time we satisfy the corresponding performance obligation. Contract Balances. For revenue associated with ongoing renewal commissions on other distributed financial products, we record a contract asset for the amount of ongoing renewal commissions we anticipate collecting in reporting periods subsequent to the sale or referral, less amounts that are constrained, in other assets. The contract asset is reduced for commissions that are billed and become due receivables from product providers during the reporting period. Activity in the contract asset account was as follows: December 31, 2020 December 31, 2019 (In thousands) Balance, beginning of period $ 51,701 $ 50,119 Current period sales, net of collection of renewal commissions 3,144 1,582 Balance, at the end of period $ 54,845 $ 51,701 No significant estimate adjustments were made to the contract asset and no impairment losses were recognized on the contract asset during the year ended December 31, 2020 and 2019. Incremental costs to obtain or fulfill contracts, most notably sales commissions to the sales representatives, are not incurred prior to the recognition of the related revenue. Therefore, we have no assets recognized for incremental costs to obtain or fulfill contracts.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Lessee Disclosure [Abstract]
Leases	(19) Leases We have operating leases for our executive office operations and other real estate leases of office space and finance leases for certain office equipment. Our leases have remaining lease terms of 1 year to 10 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 3 years, exercisable at the Company’s discretion. Operating lease right-of-use assets and operating lease liabilities are presented separately in our consolidated balance sheets. As of December 31, 2020 and December 31, 2019, finance lease right-of-use assets of $0.9 million and $0.7 million, respectively, and finance lease liabilities of $0.9 million and $0.7 million, respectively, were recorded within Other assets and Other liabilities within our consolidated balance sheets. The Company determines its lease liabilities, which are measured at the present value of future lease payments, using the Company’s incremental secured borrowing rate that is commensurate with the term of the underlying lease or the rate implicit in the lease if readily determinable. The components of lease expense were as follows: Year ended December 31, 2020 2019 (In thousands) Operating lease cost Operating lease cost $ 7,638 $ 7,650 Variable lease cost (includes taxes, common area maintenance and insurance) 725 675 Finance lease cost Depreciation of finance lease assets 280 277 Interest on lease liabilities 56 46 Total lease cost $ 8,699 $ 8,648 Other information related to leases was as follows: December 31, 2020 December 31, 2019 (In thousands) Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in operating leases (1) $ 7,737 $ 7,656 Operating cash flows used in finance leases (1) 56 46 Financing cash flows used in finance leases 274 281 (1) Included in change in other operating assets and liabilities, net in the accompanying consolidated statements of cash flows. December 31, 2020 December 31, 2019 (In thousands) Weighted Average Remaining Lease Term Operating leases 8 years 9 years Finance leases 4 years 3 years Weighted Average Discount Rate Operating leases 4.5 % 4.6 % Finance leases 7.1 % 6.8 % Future minimum lease payments under non-cancellable leases were as follows: Operating Leases Finance Leases Year Ended December 31, (In thousands) 2021 $ 7,937 $ 320 2022 7,938 267 2023 7,916 194 2024 7,905 161 2025 7,839 83 Thereafter 23,167 - Total minimum rental commitments for operating leases 62,702 1,025 Less imputed interest 9,896 123 Total lease liabilities $ 52,806 $ 902

Schedule I Summary of Investmen

Schedule I Summary of Investments - Other Than Investments in Related Party	12 Months Ended
	Dec. 31, 2020
Debt Securities [Abstract]
Consolidated Summary of Investments-Other than Investments in Related Parties	Schedule I Consolidated Summary of Investments — Other Than Investments in Related Parties PRIMERICA, INC. December 31, 2020 Type of Investment Cost Fair value Amount at which shown in the balance sheet (In thousands) Fixed maturities: Bonds ( 1) United States government and government agencies and authorities $ 195,732 $ 206,208 $ 206,208 States, municipalities, and political subdivisions 161,058 170,689 170,689 Foreign governments 169,967 183,252 183,252 Public utilities - - - Convertibles and bonds with warrants attached - - - All other corporate bonds ( 1) 3,131,508 3,520,720 3,260,862 Certificates of deposit 176 176 176 Redeemable preferred stocks 5,447 6,074 6,074 Total fixed maturities 3,663,888 4,087,119 3,827,261 Equity securities: Common stocks: States, municipalities and political subdivision 1,974 1,974 1,974 Public utilities 6,469 9,769 9,769 Banks, trusts and insurance companies 16,686 17,699 17,699 Industrial, miscellaneous and all other 5,063 7,489 7,489 Nonredeemable preferred stocks 1,839 1,092 1,092 Total equity securities 32,031 38,023 38,023 Mortgage loans on real estate - - - Real estate - - - Policy loans 30,199 30,199 30,199 Other long-term investments - - - Short-term investments - - - Total investments $ 3,726,118 $ 4,155,341 $ 3,895,483 ( 1 ) The amount shown on the consolidated balance sheet does not match the amortized cost or cost or fair value for “All other corporate bonds” due to our held-to-maturity security, which is carried at cost on the consolidated balance sheet and all other fixed maturities are carried at fair value. See the report of independent registered public accounting firm.

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information Of Registrant	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed Financial Information of Registrant	Schedule II Condensed Financial Information of Registrant PRIMERICA, INC. (Parent Only) Condensed Balance Sheets December 31, 2020 2019 (In thousands) Assets Investments: Fixed-maturity securities available-for-sale, at fair value (amortized cost: $116,441 in 2020 and $206,550 in 2019) $ 119,614 $ 208,526 Equity securities, at fair value (historical cost: $1,980 in 2020 and $2,090 in 2019) 2,294 2,250 Total investments 121,908 210,776 Cash and cash equivalents 228,303 59,150 Due from affiliates* 3,847 1,267 Other receivables 693 1,383 Income tax receivable 2,633 1,026 Deferred income taxes 10,251 12,151 Investment in subsidiaries* 1,861,411 1,756,845 Other assets 440 608 Total assets $ 2,229,486 $ 2,043,206 Liabilities and Stockholders’ Equity Liabilities: Notes payable 374,415 374,037 Current income tax payable - - Deferred income taxes 8,345 7,441 Interest payable 8,214 8,214 Other liabilities 2,627 1,023 Commitments and contingent liabilities (see Note F) Total liabilities 393,601 390,715 Stockholders’ equity: Common stock ($0.01 par value; authorized 500,000 in 2020 and 2019; issued and outstanding 39,306 shares in 2020 and 41,207 shares in 2019) 393 412 Paid-in capital - - Retained earnings 1,705,786 1,593,281 Accumulated other comprehensive income, net of income tax 129,706 58,798 Total stockholders’ equity 1,835,885 1,652,491 Total liabilities and stockholders’ equity $ 2,229,486 $ 2,043,206 * Eliminated in consolidation. See the accompanying notes to condensed financial statements. See the report of independent registered public accounting firm. Schedule II Condensed Financial Information of Registrant PRIMERICA, INC. (Parent Only) Condensed Statements of Income Year ended December 31, 2020 2019 2018 (In thousands) Revenues: Dividends from subsidiaries* $ 378,063 $ 398,129 $ 302,932 Net investment income 3,670 4,973 2,306 Realized investment gains (losses), including credit losses 175 256 (128) Total revenues 381,908 403,358 305,110 Expenses: Interest expense 18,673 18,669 18,695 Other operating expenses 13,903 9,898 7,478 Total expenses 32,576 28,567 26,173 Income before income taxes 349,332 374,791 278,937 Income taxes (3,540 ) (2,940 ) (5,578 ) Income before equity in undistributed earnings of subsidiaries 352,872 377,731 284,515 Equity in undistributed earnings of subsidiaries* 33,292 (11,340) 39,579 Net income $ 386,164 $ 366,391 $ 324,094 * Eliminated in consolidation. See the accompanying notes to condensed financial statements. See the report of independent registered public accounting firm. Schedule II Condensed Financial Information of Registrant PRIMERICA, INC. (Parent Only) Condensed Statements of Comprehensive Income Year ended December 31, 2020 2019 2018 (In thousands) Net income $ 386,164 $ 366,391 $ 324,094 Other comprehensive income (loss) before income taxes: Unrealized investment gains (losses): Equity in unrealized holding gains (losses) on investment securities held by subsidiaries 62,618 70,998 (46,382 ) Change in unrealized holding gains (losses) on investment securities 1,372 1,440 (931 ) Reclassification adjustment for realized investment (gains) losses included in net income (175 ) (256 ) 128 Foreign currency translation adjustments: Equity in unrealized foreign currency translation gains (losses) of subsidiaries 7,343 15,299 (25,059 ) Total other comprehensive income (loss) before income taxes 71,158 87,481 (72,244 ) Income tax expense (benefit) related to items of other comprehensive income (loss) 250 249 (169 ) Other comprehensive income (loss), net of income taxes 70,908 87,232 (72,075 ) Total comprehensive income $ 457,072 $ 453,623 $ 252,019 See the accompanying notes to condensed financial statements. See the report of independent registered public accounting firm. Schedule II Condensed Financial Information of Registrant PRIMERICA, INC. (Parent Only) Condensed Statements of Cash Flows Year ended December 31, 2020 2019 2018 (In thousands) Cash flows from operating activities: Net income $ 386,164 $ 366,391 $ 324,094 Adjustments to reconcile net income to cash provided by (used in) operating activities: Equity in undistributed earnings of subsidiaries* (1) (42,030 ) (95,014 ) (44,095 ) Deferred tax provision 2,553 1,067 (1,983 ) Change in income taxes (1,607 ) 2,464 (6,151 ) Realized investment (gains) losses (175 ) (256 ) 128 Accretion and amortization of investments 1,777 257 103 Share-based compensation 1,447 1,487 1,365 Change in due to/from affiliates* (2,580 ) 1,225 780 Trading securities sold, matured, or called (acquired), net (6 ) - - Change in other operating assets and liabilities, net 3,030 2,001 (120 ) Net cash provided by (used in) operating activities 348,573 279,622 274,121 Cash flows from investing activities: Available-for-sale investments sold, matured or called: Fixed maturity securities — sold 26,256 6,481 1,603 Fixed-maturity securities — matured or called 131,894 179,950 104,836 Short-term investments — matured or called - 8,250 - Equity securities — sold 212 76 150 Available-for-sale investments acquired: Fixed-maturity securities ( 1) (36,190 ) (157,510 ) (144,760 ) Short-term investments - - (8,169 ) Equity securities acquired (76 ) (611 ) (265 ) Net cash provided by (used in) investing activities 122,096 36,636 (46,605 ) Cash flows from financing activities: Dividends paid (64,346 ) (57,630 ) (44,140 ) Common stock repurchased (231,431 ) (225,037 ) (210,146 ) Tax withholdings on share-based compensation (5,739 ) (7,186 ) (6,711 ) Net cash provided by (used) in financing activities (301,516 ) (289,853 ) (260,997 ) Change in cash and cash equivalents 169,153 26,405 (33,481 ) Cash and cash equivalents, beginning of period 59,150 32,745 66,226 Cash and cash equivalents, end of period $ 228,303 $ 59,150 $ 32,745 Supplemental disclosures of cash flow information: Interest paid $ 18,118 $ 18,117 $ 18,146 * Eliminated in consolidation. (1) Does not include $33.6 See the accompanying notes to condensed financial statements. Schedule II Condensed Financial Information of Registrant PRIMERICA, INC. (Parent Only) Notes to Condensed Financial Statements (A) Description of Business Primerica, Inc. (“we”, “us” or the “Company”) is a holding company with our primary asset being the capital stock of our wholly owned operating subsidiaries, and our primary liability being $375.0 million in principal amount of senior unsecured notes issued in a public offering in 2012 (the “Senior Notes”). Our subsidiaries assist clients in meeting their needs for term life insurance, which our insurance subsidiaries underwrite, and mutual funds, annuities, managed investments and other financial products, which our subsidiaries distribute primarily on behalf of third parties. Our primary subsidiaries include the following entities: Primerica Financial Services, LLC, a general agency and marketing company; Primerica Life Insurance Company (“Primerica Life”), our principal life insurance company; PFS Investments Inc., an investment products company and broker-dealer; and Primerica Financial Services (Canada) Ltd., a holding company for our Canadian operations, which includes Primerica Life Insurance Company of Canada and PFSL Investments Canada Ltd. Primerica Life, domiciled in Tennessee, owns National Benefit Life Insurance Company, a New York insurance company. In addition, we established Peach Re, Inc. (“Peach Re”) and Vidalia Re, Inc. (“Vidalia Re”) as special purpose financial captive insurance companies domiciled in Vermont and wholly owned subsidiaries of Primerica Life. (B) Basis of Presentation These condensed financial statements reflect the results of operations, financial position and cash flows for the Company. We prepare our financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles are established primarily by the Financial Accounting Standards Board. The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect financial statement balances, revenues and expenses and cash flows, as well as the disclosure of contingent assets and liabilities. Management considers available facts and knowledge of existing circumstances when establishing the estimates included in our financial statements. The most significant item that involves a greater degree of accounting estimates subject to change in the future is the determination of our investments in subsidiaries. Estimates for this and other items are subject to change and are reassessed by management in accordance with U.S. GAAP. Actual results could differ from those estimates. The accompanying condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto of Primerica, Inc. and subsidiaries included in Part II, Item 8 of this report. (C) Note Payable In July 2012, we issued the Senior Notes in a public offering at a price of 99.843% of the principal amount with an annual interest rate of 4.75%, payable semi-annually in arrears on January 15 and July 15. The Senior Notes mature on July 15, 2022. As unsecured senior obligations, the Senior Notes rank equally in right of payment with all existing and future unsubordinated indebtedness and senior to all existing and future subordinated indebtedness of the Company. The Senior Notes are structurally subordinated in right of payment to all existing and future liabilities of our subsidiaries. In addition, the Senior Notes contain covenants that restrict our ability to, among other things, create or incur any indebtedness that is secured by a lien on the capital stock of certain of our subsidiaries, and merge, consolidate or sell all or substantially all of our properties and assets. We were in compliance with the covenants of the Senior Notes as of December 31, 2020. No events of default occurred on the Senior Notes during the year ended December 31, 2020. (D) Revolving Credit Facility We maintain an unsecured $200.0 million revolving credit facility (“Revolving Credit Facility”) with a syndicate of commercial banks that has a scheduled termination date of December 19, 2022. Amounts outstanding under the Revolving Credit Facility bear interest at a periodic rate equal to LIBOR or the base rate, plus in either case an applicable margin. The Revolving Credit Facility contains language that allows for the Company and the lenders to agree on a comparable or successor reference rate in the event LIBOR is no longer available. The Revolving Credit Facility also permits the issuance of letters of credit. The applicable margins are based on our debt rating with such margins for LIBOR rate loans and letters of credit ranging from we were in compliance with its covenants. Furthermore, no events of default have occurred under the Revolving Credit Facility during the year ended December 31, 2020 . (E) Dividends For the years ended December 31, 2020, 2019, and 2018, the Company received dividends from our non-life insurance subsidiaries of $185.5 million, $105.6 million, and $80.1 million, respectively. For the years ended December 31, 2020, 2019, and 2018, the Company received dividends from our life insurance subsidiaries of $192.5 million, $292.5 million, and $222.8 million, respectively. (F) Commitments and Contingent Liabilities Peach Re and Vidalia Re have each entered into separate coinsurance agreements with Primerica Life whereby Primerica Life has ceded certain level-premium term life insurance policies to Peach Re and Vidalia Re. In conjunction with these coinsurance agreements, we have capital maintenance agreements with both Peach Re and Vidalia Re. Each capital maintenance agreement may require us at times to make capital contributions to Peach Re and Vidalia Re to ensure that their regulatory accounts, as defined in the coinsurance agreements with Primerica Life, will not be less than $20.0 million for each financial captive insurance company. For Peach Re, the regulatory account will only be used to satisfy obligations under its coinsurance agreement after all other available assets have been used, including a letter of credit issued by Deutsche Bank for the benefit of Primerica Life. For Vidalia Re, the regulatory account will only be used to satisfy obligations under its coinsurance agreement after all other available assets have been used, including its held-to-maturity security ultimately guaranteed by Hannover Life Reassurance Company of America. The Company is involved from time-to-time in legal disputes, regulatory inquiries and arbitration proceedings in the normal course of business. These disputes are subject to uncertainties, including large and/or indeterminate amounts sought in certain of these matters and the inherent unpredictability of litigation. As such, the Company is unable to estimate the possible loss or range of loss that may result from these matters.

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2020
Supplementary Insurance Information [Abstract]
Supplementary Insurance Information	Schedule III Supplementary Insurance Information PRIMERICA, INC. Deferred policy acquisition costs Future policy benefits Unearned and advance premiums Policy claims and other benefits payable Separate account liabilities (In thousands) December 31, 2020 Term Life Insurance $ 2,543,795 $ 6,579,600 $ 16,633 $ 508,425 $ - Investment and Savings Products 62,876 - - - 2,659,469 Corporate and Other Distributed Products 22,973 210,957 503 11,286 51 Total $ 2,629,644 $ 6,790,557 $ 17,136 $ 519,711 $ 2,659,520 December 31, 2019 Term Life Insurance $ 2,239,515 $ 6,244,193 $ 14,933 $ 330,660 $ - Investment and Savings Products 62,196 - - - 2,485,683 Corporate and Other Distributed Products 24,039 202,376 537 9,294 62 Total $ 2,325,750 $ 6,446,569 $ 15,470 $ 339,954 $ 2,485,745 Premium revenue Net investment income Benefits and claims Amortization of deferred policy acquisition costs Other operating expenses Premiums written (In thousands) Year ended December 31, 2020 Term Life Insurance $ 1,309,661 $ 27,030 $ 593,948 $ 216,208 $ 200,063 $ - Investment and Savings Products - - - 7,055 509,167 - Corporate and Other Distributed Products 16,722 56,784 21,621 1,058 161,691 701 Total $ 1,326,383 $ 83,814 $ 615,569 $ 224,321 $ 870,921 $ 701 Year ended December 31, 2019 Term Life Insurance $ 1,166,461 $ 19,922 $ 475,330 $ 248,710 $ 183,097 $ - Investment and Savings Products - - - 4,549 495,248 - Corporate and Other Distributed Products 17,676 74,151 18,490 1,293 148,676 741 Total $ 1,184,137 $ 94,073 $ 493,820 $ 254,552 $ 827,021 $ 741 Year ended December 31, 2018 Term Life Insurance $ 1,067,079 $ 13,747 $ 441,775 $ 228,613 $ 170,908 $ - Investment and Savings Products - - - 9,766 471,398 - Corporate and Other Distributed Products 18,861 67,683 15,808 1,351 144,140 792 Total $ 1,085,940 $ 81,430 $ 457,583 $ 239,730 $ 786,446 $ 792 See the report of independent registered public accounting firm.

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
	Dec. 31, 2020
Schedule Iv Reinsurance [Abstract]
Reinsurance	Schedule IV Reinsurance PRIMERICA, INC. Year ended December 31, 2020 Gross amount Ceded to other companies Assumed from other companies Net amount Percentage of amount assumed to net (Dollars in thousands) Life insurance in force $ 861,392,223 $ 742,356,917 $ - $ 119,035,306 — % Premiums: Life insurance $ 2,906,083 $ 1,580,427 $ - $ 1,325,656 — % Accident and health insurance 1,066 339 - 727 — % Total premiums $ 2,907,149 $ 1,580,766 $ - $ 1,326,383 — % Year ended December 31, 2019 Gross amount Ceded to other companies Assumed from other companies Net amount Percentage of amount assumed to net (Dollars in thousands) Life insurance in force $ 810,995,295 $ 702,727,956 $ - $ 108,267,339 — % Premiums: Life insurance $ 2,752,774 $ 1,569,403 $ - $ 1,183,371 — % Accident and health insurance 1,092 326 - 766 — % Total premiums $ 2,753,866 $ 1,569,729 $ - $ 1,184,137 — % Year ended December 31, 2018 Gross amount Ceded to other companies Assumed from other companies Net amount Percentage of amount assumed to net (Dollars in thousands) Life insurance in force $ 783,979,673 $ 682,708,797 $ - $ 101,270,876 — % Premiums: Life insurance $ 2,665,947 $ 1,580,815 $ - $ 1,085,132 — % Accident and health insurance 1,157 349 - 808 — % Total premiums $ 2,667,104 $ 1,581,164 $ - $ 1,085,940 — % See the report of independent registered public accounting firm.

Description of Business, Basi_2

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation. We prepare our financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles are established primarily by the Financial Accounting Standards Board (“FASB”).
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect financial statement balances, revenues and expenses and cash flows, as well as the disclosure of contingent assets and liabilities. Management considers available facts and knowledge of existing circumstances when establishing the estimates included in our financial statements. The most significant items that involve a greater degree of accounting estimates and actuarial determinations subject to change in the future are the valuation of investments, deferred policy acquisition costs (“DAC”), future policy benefit reserves and corresponding amounts recoverable from reinsurers, and income taxes. Estimates for these and other items are subject to change and are reassessed by management in accordance with U.S. GAAP. Actual results could differ from those estimates.
Consolidation	Consolidation. The accompanying consolidated financial statements include the accounts of the Company and those entities required to be consolidated under U.S. GAAP. All material intercompany profits, transactions, and balances among the consolidated entities have been eliminated.
Reclassifications	Reclassifications. Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. These reclassifications had no impact on net income or total stockholders’ equity.
Foreign Currency Translation	Foreign Currency Translation. Assets and liabilities of our Canadian subsidiaries are translated into U.S. dollars using year-end exchange rates, and the translation adjustments are reported in other comprehensive income (loss). Revenues and expenses of our Canadian subsidiaries are translated monthly at amounts that approximate weighted-average exchange rates.
Investments	Investments. Investments are reported on the following bases: • Available-for-sale (“AFS”) fixed-maturity securities, including bonds and redeemable preferred stocks, are carried at fair value. • Our held-to-maturity fixed-maturity security is carried at amortized cost. • Equity securities, including common and nonredeemable preferred stocks, are carried at fair value. Changes in fair value of equity securities are included in realized investment gains (losses) in the period in which the change occurred. • Trading securities, which primarily consist of bonds held by PFS Investments, are carried at fair value. Changes in fair value of trading securities are included in realized investment gains (losses) in the period in which the change occurred. • Policy loans are carried at unpaid principal balances, which approximate fair value. Investment transactions are recorded on a trade-date basis. We use the specific-identification method to determine the realized gains or losses from securities transactions and report the realized gains or losses in the accompanying consolidated statements of income. Unrealized gains and losses on AFS securities are included as a separate component of other comprehensive income (loss), except for credit loss impairment discussed below, in the accompanying consolidated statements of comprehensive income. For an AFS security with an amortized cost that exceeds its fair value, we first determine if we intend to sell or will more-likely-than-not be required to sell the security before the expected recovery of its amortized cost. If we intend to sell or will more-likely-than-not be required to sell the security, then we recognize the impairment as a credit loss in our consolidated statements of income by writing down the security’s amortized cost to its fair value. If we do not intend to sell or it is not more-likely-than-not that we will be required to sell the security before the expected recovery of its amortized cost, we recognize the portion of the impairment that is due to a credit loss, if any, in our consolidated statement of income through an allowance. The portion of the impairment that is due to factors other than a credit loss is recognized in other comprehensive income in the consolidated statement of comprehensive income as an unrealized loss. Credit losses recognized in the allowance for credit losses are reversed in situations where the estimate of credit losses on those securities has declined. When determining whether an impairment is due to a credit loss or other factors, we determine the extent to which we do not expect to recover the security’s amortized cost and record such amount, if any, as a credit loss. Factors we consider in determining whether the security’s decline in fair value is below amortized cost due to a credit loss include the magnitude of the security’s decline in fair value below its amortized cost, the financial condition, long and near-term prospects for the issuer, industry conditions and trends, rating agency actions, the payment structure of the security, likelihood of the recoverability of principal and interest, and our ability and intent to hold the security for a period of time sufficient to allow for the anticipated recovery of its amortized cost. In assessing our ability and intent to hold the security for a period of time to allow for the anticipated recovery of its amortized cost, we also consider our anticipated sources of cash to fund operating activities and share repurchases. If we do not anticipate recovering a security’s amortized cost basis, we estimate the present value of the security’s expected cash flows and recognize the difference from amortized cost (using fair value as a floor) as a credit loss. Interest income on fixed-maturity securities is recorded when earned by determining the effective yield, which gives consideration to amortization of premiums, accretion of discounts, and any previous credit losses. Dividend income on equity securities is recorded when declared. These amounts are included in net investment income in the accompanying consolidated statements of income. Included within fixed-maturity securities are loan-backed and asset-backed securities. Amortization of the premium or accretion of the discount uses the retrospective method. The effective yield used to determine amortization/accretion is calculated based on actual and historical projected future cash flows and updated quarterly.
Cash and Cash Equivalents	Cash and Cash Equivalents. Cash and cash equivalents include cash on hand, money market instruments, and all other highly liquid investments purchased with an original or remaining maturity of three months or less at the date of acquisition.
Reinsurance	Reinsurance. We use reinsurance extensively, utilizing yearly renewable term (“YRT”) and coinsurance agreements. Under YRT agreements, we reinsure only the mortality risk, while under coinsurance, we reinsure a proportionate part of all risks arising under the reinsured policy. Under coinsurance, the reinsurer receives a proportionate part of the premiums, less commission allowances, and is liable for a corresponding part of all benefit payments. All reinsurance contracts in effect for the three-year period ended December 31, 2020 transfer a reasonable possibility of substantial loss to the reinsurer or are accounted for under the deposit method of accounting. Ceded premiums are treated as a reduction to direct premiums and are recognized when due to the assuming company. Ceded claims are treated as a reduction to direct benefits and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as a reduction to benefits and claims expense and are recognized during the applicable financial reporting period. Reinsurance premiums, commissions, expense reimbursements and benefits and reserves related to reinsured long-duration contracts are accounted for over the life of the underlying contracts using assumptions consistent with those used to account for the underlying policies. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liabilities and future policy benefits associated with reinsured policies. Ceded policy reserves and claims liabilities relating to insurance ceded are shown as reinsurance recoverables on the accompanying consolidated balance sheets. We analyze and monitor the credit-worthiness of each of our reinsurance partners to minimize collection issues. For reinsurance contracts with unauthorized reinsurers, we require collateral such as letters of credit. To the extent we receive ceding allowances to cover policy and claims administration under reinsurance contracts, these allowances are treated as a reduction to insurance commissions and expenses and are recognized when due from the assuming company. To the extent we receive ceding allowances reimbursing commissions that would otherwise be deferred, the amount of commissions deferrable will be reduced. The corresponding DAC balances are reduced on a pro rata basis by the portion of the business reinsured with reinsurance agreements that meet risk transfer provisions. The reduced DAC will result in a corresponding reduction of amortization expense. We estimate and recognize lifetime expected credit losses for reinsurance recoverables. In estimating the allowance for expected credit losses for reinsurance recoverables, we factor in the underlying collateral for reinsurance agreements where available. Specifically, for reinsurers with underlying trust assets, we compare the reinsurance recoverables balance to the underlying trust assets that mitigate the potential exposure to credit losses. We also analyze the financial condition of the reinsurers, as determined by third-party rating agencies, to determine the probability of default for the reinsurers. We then utilize a third-party credit default study to calculate an expected credit loss given default rate or recovery rate. The probability of default and loss given default rates are then applied to the reinsurers’ recoverable balance, while also factoring in any third-party letters of credit that support the reinsurance agreement, in order to calculate our current expected credit loss allowance.
Deferred Policy Acquisition Costs	DAC. We defer incremental direct costs of successful contract acquisitions that result directly from and are essential to the contract transaction(s) and that would not have been incurred had the contract transaction(s) not occurred. These deferred policy acquisition costs mainly include commissions and policy issue expenses. All other acquisition-related costs, including unsuccessful acquisition and renewal efforts, are charged to expense as incurred. Also, administrative costs, rent, depreciation, occupancy, equipment, and all other general overhead costs are considered indirect costs and are charged to expense as incurred. DAC for term life insurance policies is amortized over the initial premium-paying period of the related policies in proportion to premium revenue. DAC for Canadian segregated funds is amortized over the life of the underlying policies at a constant rate based on the present value of the estimated gross profits expected to be realized over the life of the underlying policies. DAC is subject to recoverability testing annually and when impairment indicators exist.
Intangible Assets	Intangible Assets. Intangible assets, which are included in other assets, are amortized over their estimated useful lives. Any intangible asset that was deemed to have an indefinite useful life is not amortized but is subject to an annual impairment test. An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value. For the other intangible assets, which are subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset. The components of intangible assets were as follows: December 31, 2020 2019 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Indefinite-lived intangible asset $ 45,275 n/a $ 45,275 $ 45,275 n/a $ 45,275 Amortizing intangible asset - - - - - - Total intangible assets $ 45,275 $ - $ 45,275 $ 45,275 $ - $ 45,275 We have an indefinite-lived intangible asset related to the 1989 purchase of the right to contract with the sales force. This asset represents the core distribution model of our business, which is our primary competitive advantage to profitably distribute term life insurance and investment and savings products on a significant scale, and as such, is considered to have an indefinite life. This indefinite-lived intangible asset is supported by a significant portion of the discounted cash flows of our future business. We assessed this asset for impairment as of October 1, 2020 and determined that no impairment had occurred. There have been no subsequent events requiring further analysis. We also had an amortizing intangible asset related to a 1995 sales agreement termination payment to Management Financial Services, Inc. This asset, which was fully amortized in 2019, was supported by a non-compete agreement with the founder of our business model that expired in 2019. We calculated the amortization of this contract buyout on a straight-line basis over 24 years, which represented the life of the non-compete agreement. Intangible asset amortization expense was $2.8 million in 2019 and $3.4 million in 2018.
Property and Equipment	Property and Equipment. Property and equipment, which are included in other assets, are stated at cost, less accumulated depreciation. Depreciation is recognized on a straight-line basis over the asset’s estimated useful life, which is estimated as follows: Estimated Useful Life Data processing equipment and software 3 to 7 years Leasehold improvements Lesser of 15 years or remaining life of lease Furniture and other equipment 5 to 15 years Depreciation expense is included in other operating expenses in the accompanying consolidated statements of income. Depreciation expense was $18.0 million, $15.7 million, and $9.0 million for the years ended December 31, 2020, 2019, and 2018, respectively. Property and equipment balances were as follows: December 31, 2020 2019 (In thousands) Data processing equipment and software $ 104,364 $ 86,794 Leasehold improvements 18,764 19,079 Other, principally furniture and equipment 35,099 31,391 158,227 137,264 Accumulated depreciation (100,500 ) (91,148 ) Net property and equipment $ 57,727 $ 46,116
Separate Accounts	Separate Accounts. The separate accounts are primarily comprised of contracts issued by the Company through its subsidiary, Primerica Life Canada, pursuant to the Insurance Companies Act (Canada). The Insurance Companies Act authorizes Primerica Life Canada to establish the separate accounts. The separate accounts are represented by individual variable insurance contracts. Purchasers of variable insurance contracts issued by Primerica Life Canada have a direct claim to the benefits of the contract that entitles the holder to units in one or more investment funds (the “Funds”) maintained by Primerica Life Canada. The Funds invest in assets that are held for the benefit of the owners of the contracts. The benefits provided vary in amount depending on the fair value of the Funds’ net assets. The Funds’ assets are administered by Primerica Life Canada and are held separate and apart from the general assets of the Company. The liabilities reflect the variable insurance contract holders’ interests in the Funds’ net assets based upon actual investment performance of the respective Funds. Separate account operating results relating to contract holders’ interests are excluded from our consolidated statements of income. Primerica Life Canada’s contract offerings guarantee the maturity value at the date of maturity (or upon death, whichever occurs first) to be equal to 75% of the sum of all contributions made, net of withdrawals, on a first-in, first-out basis. Otherwise, the maturity value or death benefit will be the accumulated value of units allocated to the contract at the specified valuation date.
Future Policy Benefits Liability	Policyholder Liabilities. Future policy benefits are accrued over the current and renewal periods of the contracts. Liabilities for future policy benefits on traditional life insurance products are reserves established for death claims and waiver of premium benefits and have been computed using a net level method, using assumptions as to interest rates, mortality, persistency, disability rates and other assumptions based on our experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. The underlying mortality tables are the Society of Actuaries (“SOA”) 65-70, SOA 75-80, SOA 85-90, and the 91 Bragg, modified to reflect various underwriting classifications and assumptions. Interest rate reserve assumptions at December 31, 2020 and 2019 ranged from 3.0% to 7.0%. For policies issued in 2010 and after, we have been using an increasing interest rate assumption to reflect the historically low interest rate environment. The liability for policy claims and other benefits payable on traditional life insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. The future policy benefit reserves we establish are necessarily based on estimates, assumptions and our analysis of historical experience. We do not modify the assumptions used to establish future policy benefit reserves during the policy term unless a premium deficiency is identified. Our results depend significantly upon the extent to which our actual claims experience is consistent with the assumptions we used in determining our future policy benefit reserves and pricing our products. Our future policy benefit reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. We cannot determine with precision the ultimate amounts that we will pay for actual claims or the timing of those payments. Other Policyholders’ Funds . Other policyholders’ funds primarily represent claim payments left on deposit with us.
Unearned and Advance Premiums	Unearned and Advance Premiums. Unearned and advance premiums primarily consist of premiums received from policyholders in advance of the premiums due date. Unearned and advance premiums are deferred upon collection and recognized as premiums revenue upon the premium due date.
Litigation	Litigation. The Company is involved from time-to-time in legal disputes, regulatory inquiries and arbitration proceedings in the normal course of business. Contingent litigation-related losses are recognized when probable and can be reasonably estimated. Legal costs, such as attorneys’ fees and other litigation-related expenses that are incurred in connection with resolving litigation are expensed as incurred. These disputes are subject to uncertainties, including indeterminate amounts sought in certain of these matters and the inherent unpredictability of litigation. Due to the difficulty of estimating costs of litigation, actual costs may be substantially higher or lower than any amounts reserved.
Income Taxes	Income Taxes . We are subject to the income tax laws of the United States, its states, municipalities, and certain unincorporated territories, and those of Canada. These tax laws can be complex and subject to different interpretations by the taxpayer and the relevant governmental taxing authorities. In establishing a provision for income tax expense, we must make judgments and interpretations about the applicability of these tax laws. We also must make estimates about the future impact certain items will have on taxable income in the various tax jurisdictions, both domestic and foreign. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to (i) differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and (ii) operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are recognized subject to management’s judgment that realization is more-likely-than-not applicable to the periods in which we expect the temporary difference will reverse.
Premium Revenues	Premium Revenues . Traditional life insurance products consist principally of those products with fixed and guaranteed premiums and benefits, and are primarily related to term products. Premiums are recognized as revenues when due.
Commissions and Fees	Commissions and Fees. We receive commissions and fees revenue from the sale of various non-life insurance products. Commissions revenue is generally received on the sale of mutual funds and annuities. We also receive trail commissions revenue from mutual fund and annuity products based on the net asset value of shares sold by us. We, in turn, pay sales commissions to the sales force. We also receive investment advisory and administrative fees based on the average daily net asset value of client assets held in managed investments programs and contracts related to separate account assets issued by Primerica Life Canada. We, in turn, pay asset-based commissions to the sales force. We earn recordkeeping fees for transfer agent recordkeeping services that we perform on behalf of several of our mutual fund providers and custodial fees for services performed as a non-bank custodian of our clients’ retirement plan accounts. See Note 18 (Revenue from Contracts with Customers) for details related to our commission and fees revenues recognition policies.
Benefits and Expenses	Benefits and Expenses . Benefit and expense items are charged to income in the period in which they are incurred. Both the change in policyholder liabilities, which is included in benefits and claims, and the amortization of deferred policy acquisition costs will vary with policyholder persistency.
Share-Based Transactions	Share-Based Transactions. For employee and director share-based compensation awards, we determine a grant date fair value based on the price of our publicly-traded common stock and recognize the related compensation expense, adjusted for actual forfeitures, in the consolidated statements of income on a straight-line basis over the requisite service period for the entire award. For non-employee share-based compensation, we recognize the impact during the period of performance, and the fair value of the award is measured as of the grant date, which occurs in the same quarter as the service period. To the extent non-employee share-based compensation is an incremental direct cost of successful acquisitions or renewals of life insurance policies that result directly from and are essential to the policy acquisition(s) and would not have been incurred had the policy acquisition(s) not occurred, we defer and amortize the fair value of the awards in the same manner as other deferred policy acquisition costs.
Earnings Per Share	Earnings Per Share (“EPS”). The Company has outstanding equity awards that consist of restricted stock units (“RSUs”), performance-based stock units (“PSUs”), and stock options. The RSUs maintain non-forfeitable dividend rights that result in dividend payment obligations on a one-to-one ratio with common shares for any future dividend declarations. Unvested RSUs are deemed participating securities for purposes of calculating EPS as they maintain dividend rights. See Note 13 (Earnings Per Share) for details related to the calculations of our basic and diluted EPS using the two-class method.
New Accounting Principles	New Accounting Principles. In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments (“ASC 326”). ASC 326 introduced new guidance for accounting for credit losses on financial instruments within its scope, including reinsurance recoverables, by replacing the previous approach that delayed recognition until it was probable a loss had been incurred with a current approach that estimates an allowance for anticipated credit losses on the basis of an entity’s own expectations. The objective of the current approach for estimating credit losses is to require consideration of a broader range of forward-looking information, which is expected to result in earlier recognition of credit losses on financial instruments. AFS securities are excluded from the scope of financial instruments that require measurement of credit losses on the basis of a forward-looking expected loss estimate under ASC 326. The incurred probable loss approach for measuring losses on AFS securities in the consolidated statements of income remains under ASC 326, however, an entity is allowed to reverse credit losses previously recognized in an allowance for AFS securities in situations where the estimate of credit losses on those securities has declined. The amendments in ASC 326 also preclude an entity from considering the length of time an AFS security has been in an unrealized loss position to avoid recording a credit loss and removes the requirement to consider recoveries or declines in fair value after the balance sheet date. We adopted the amendments in ASC 326 as of the January 1, 2020 application date through a cumulative-effect adjustment to beginning retained earnings of $1.2 million, net of taxes. Furthermore, the adoption of ASC 326 did not result in any material changes to impairment losses recognized in our consolidated statements of income for AFS securities. Refer to Note 4 (Investments) and Note 6 (Reinsurance) for more information on credit losses. Future Application of Accounting Standards. In August 2018, the FASB issued Accounting Standards Update No. 2018-12, Financial Services—Insurance (Topic 944) — Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”). The amendments in this update change accounting guidance for insurance companies that issue long-duration contracts, including term life insurance. ASU 2018-12 requires companies that issue long-duration insurance contracts to update assumptions used in measuring future policy benefits, including mortality, disability, and persistency, at least annually instead of locking those assumptions at contract inception and reflecting differences in assumptions and actual performance as the experience occurs. ASU 2018-12 also includes changes to how insurance companies that issue long-duration contracts amortize DAC and determine and update the discount rate assumptions used in measuring future policy benefits reserves while increasing the level of financial statement disclosures required. The guidance in ASU 2018-12 will be applied to the earliest period presented in the consolidated financial statements beginning on the effective date. On November 5, 2020, the FASB issued ASU 2020-11, Financial Services—Insurance (Topic 944): Effective Date and Early Application, which deferred the effective date of ASU 2018-12 by an additional year, moving the effective date from January 1, 2022 to January 1, 2023. The adoption of ASU 2018-12 will have an impact on our consolidated financial statements and related disclosures and will require changes to certain of our processes, systems, and controls. We are currently working on processes that will allow us to obtain the requisite data, modify our valuation system, and develop key assumptions that will be necessary to evaluate and implement this standard. As such, we are unable to determine the magnitude of the impact ASU 2018-12 will have on our consolidated financial statements at this time. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes improve consistent application. The guidance in ASU 2019-12 is effective for the Company beginning January 1, 2021. The impact of ASU 2019-12 will not have a material effect on our consolidated financial statements. Recently-issued accounting guidance not discussed above is not applicable, is immaterial to our consolidated financial statements, or did not or is not expected to have a material impact on our business.

Description of Business, Basi_3

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Intangible Assets	The components of intangible assets were as follows: December 31, 2020 2019 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Indefinite-lived intangible asset $ 45,275 n/a $ 45,275 $ 45,275 n/a $ 45,275 Amortizing intangible asset - - - - - - Total intangible assets $ 45,275 $ - $ 45,275 $ 45,275 $ - $ 45,275
Schedule of Assets Estimated Useful Life	Depreciation is recognized on a straight-line basis over the asset’s estimated useful life, which is estimated as follows: Estimated Useful Life Data processing equipment and software 3 to 7 years Leasehold improvements Lesser of 15 years or remaining life of lease Furniture and other equipment 5 to 15 years
Property and Equipment	Property and equipment balances were as follows: December 31, 2020 2019 (In thousands) Data processing equipment and software $ 104,364 $ 86,794 Leasehold improvements 18,764 19,079 Other, principally furniture and equipment 35,099 31,391 158,227 137,264 Accumulated depreciation (100,500 ) (91,148 ) Net property and equipment $ 57,727 $ 46,116

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of other comprehensive income (“OCI”), including the income tax expense or benefit allocated to each component, were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Foreign currency translation adjustments: Change in unrealized foreign currency translation gains (losses) before income taxes $ 7,343 $ 15,299 $ (25,059 ) Income tax expense (benefit) on unrealized foreign currency translation gains (losses) - - - Change in unrealized foreign currency translation gains (losses), net of income taxes $ 7,343 $ 15,299 $ (25,059 ) Unrealized gain (losses) on available-for-sale securities: Change in unrealized holding gains (losses) arising during period before income taxes $ 78,533 $ 91,160 $ (59,661 ) Income tax expense (benefit) on unrealized holding gains (losses) arising during period 17,033 19,427 (12,681 ) Change in unrealized holding gains (losses) on available-for-sale securities arising during period, net of income taxes 61,500 71,733 (46,980 ) Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities 2,614 253 (45 ) Income tax (expense) benefit on (gains) losses reclassified from accumulated OCI to net income 549 53 (9 ) Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities, net of income taxes 2,065 200 (36 ) Change in unrealized gains (losses) on available-for-sale securities, net of income taxes and reclassification adjustment $ 63,565 $ 71,933 $ (47,016 )

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Summary of Assets and Profit or Loss by Segment	Notable information included in profit or loss by segment was as follows: Year ended December 31, 2020 2019 2018 (In thousands) Revenues: Term life insurance segment $ 1,382,770 $ 1,227,231 $ 1,123,200 Investment and savings products segment 718,867 691,608 655,076 Corporate and other distributed products segment 115,904 133,665 121,567 Total revenues $ 2,217,541 $ 2,052,504 $ 1,899,843 Net investment income: Term life insurance segment $ 27,030 $ 19,922 $ 13,747 Investment and savings products segment - - - Corporate and other distributed products segment 56,784 74,151 67,683 Total net investment income $ 83,814 $ 94,073 $ 81,430 Amortization of DAC: Term life insurance segment $ 216,208 $ 248,711 $ 228,613 Investment and savings products segment 7,055 4,549 9,766 Corporate and other distributed products segment 1,058 1,292 1,351 Total amortization of DAC $ 224,321 $ 254,552 $ 239,730 Non-cash share-based compensation expense: Term life insurance segment $ 3,612 $ 3,605 $ 4,135 Investment and savings products segment 3,045 3,440 2,695 Corporate and other distributed products segment 12,370 10,475 10,421 Total non-cash share-based compensation expense $ 19,027 $ 17,520 $ 17,251 Income (loss) before income taxes: Term life insurance segment $ 372,551 $ 320,093 $ 281,904 Investment and savings products segment 202,644 191,812 173,912 Corporate and other distributed products segment (68,465 ) (34,794 ) (39,732 ) Total income before income taxes $ 506,730 $ 477,111 $ 416,084
Total Assets by Segment	Total assets by segment were as follows: December 31, 2020 December 31, 2019 December 31, 2018 (In thousands) Assets: Term life insurance segment $ 6,985,086 $ 6,546,129 $ 6,322,555 Investment and savings products segment (1) 2,769,445 2,598,493 2,298,238 Corporate and other distributed products segment 5,150,754 4,543,909 3,974,255 Total assets $ 14,905,285 $ 13,688,531 $ 12,595,048 (1) The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $110.0 million, $112.8 million, and $102.8 million as of December 31, 2020, 2019, and 2018, respectively.
Long Lived Assets and Continuing Operations by Country	Geographical Information. Results of operations by country and long-lived assets — primarily tangible assets reported in other assets in our consolidated balance sheets —were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Revenues by country: United States $ 1,895,708 $ 1,747,609 $ 1,607,140 Canada 321,833 304,895 292,703 Total revenues $ 2,217,541 $ 2,052,504 $ 1,899,843 Income before income taxes by country: United States $ 411,751 $ 390,431 $ 337,914 Canada 94,979 86,680 78,170 Total income before income taxes $ 506,730 $ 477,111 $ 416,084 December 31, 2020 December 31, 2019 December 31, 2018 (In thousands) Long-lived assets by country: United States $ 53,281 $ 41,200 $ 30,999 Canada 4,446 4,916 4,997 Total long-lived assets $ 57,727 $ 46,116 $ 35,996

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Schedule of Investments Debt and Equity Securities [Line Items]
Schedule of AFS Securities Reconciliation	The period-end cost or amortized cost, gross unrealized gains and losses, and fair value of AFS fixed-maturity securities were as follows: December 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Securities available-for-sale, carried at fair value: Fixed-maturity securities: U.S. government and agencies $ 9,747 $ 400 $ (3 ) $ 10,144 Foreign government 169,967 13,324 (39 ) 183,252 States and political subdivisions 161,058 9,632 (1 ) 170,689 Corporates 1,506,549 124,164 (2,545 ) 1,628,168 Residential mortgage-backed securities 261,376 11,419 (54 ) 272,741 Commercial mortgage-backed securities 107,020 5,901 (56 ) 112,865 Other asset-backed securities 85,521 1,816 (585 ) 86,752 Total fixed-maturity securities $ 2,301,238 $ 166,656 $ (3,283 ) $ 2,464,611 December 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Securities available-for-sale, carried at fair value: Fixed-maturity securities: U.S. government and agencies $ 10,197 $ 287 $ - $ 10,484 Foreign government 154,945 6,362 (235 ) 161,072 States and political subdivisions 120,000 3,288 (695 ) 122,593 Corporates 1,436,877 63,892 (1,118 ) 1,499,651 Residential mortgage-backed securities 305,897 6,848 (222 ) 312,523 Commercial mortgage-backed securities 128,913 3,191 (99 ) 132,005 Other asset-backed securities 117,941 970 (243 ) 118,668 Total fixed-maturity securities $ 2,274,770 $ 84,838 $ (2,612 ) $ 2,356,996
Fixed-maturity Securities Classified by Contractual Maturity Securities Date	The scheduled maturity distribution of the AFS fixed-maturity securities portfolio as of December 31, 2020 was as follows: Amortized cost Fair value (In thousands) Due in one year or less $ 178,278 $ 180,954 Due after one year through five years 831,986 894,191 Due after five years through 10 years 546,330 598,767 Due after 10 years 290,727 318,341 1,847,321 1,992,253 Mortgage- and asset-backed securities 453,917 472,358 Total AFS fixed-maturity securities $ 2,301,238 $ 2,464,611
Costs and Fair Values of Fixed-Maturity Securities Classified as Trading Securities	The costs and fair values of the fixed-maturity securities classified as trading securities were as follows: December 31, 2020 December 31, 2019 Cost Fair value Cost Fair value (In thousands) Fixed-maturity securities $ 16,359 $ 16,300 $ 43,257 $ 43,233
Net Investment Income	Investment Income. The components of net investment income were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Fixed-maturity securities (available-for-sale) $ 82,805 $ 81,828 $ 79,356 Fixed-maturity security (held-to-maturity) 57,473 48,325 37,485 Equity securities 1,751 1,845 1,955 Policy loans and other invested assets 1,244 1,069 1,159 Cash and cash equivalents 1,202 4,758 3,433 Total return on deposit asset underlying 10% coinsurance agreement ( 1) 4,253 13,429 3,643 Gross investment income 148,728 151,254 127,031 Investment expenses (7,441 ) (8,856 ) (8,116 ) Investment income net of investment expenses 141,287 142,398 118,915 Interest expense on surplus note (57,473 ) (48,325 ) (37,485 ) Net investment income $ 83,814 $ 94,073 $ 81,430 (1) Includes $2.0 million, $5.4 million, and $(1.7) million of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10%
Schedule of Net Realized Investment Gains and Losses	The components of net realized investment gains (losses), as well as details on gross realized investment gains and (losses) were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Net realized investment gains (losses): Gross gains from sales of available-for-sale securities $ 2,595 $ 1,373 $ 1,162 Gross losses from sales of available-for-sale securities (955 ) (293 ) (965 ) Credit losses impairment of available-for-sale securities (4,254 ) (1,333 ) (152 ) Net gains (losses) recognized in net income during the period on equity securities (2,435 ) 5,207 (2,456 ) Gains (losses) from bifurcated options 57 - 290 Gains (losses) on trading securities (4 ) 11 - Net realized investment gains (losses) $ (4,996 ) $ 4,965 $ (2,121 )
Schedule of Proceeds from Sales or Other Redemptions of Available-for-Sale Securities	The proceeds from sales or other redemptions of available-for-sale securities were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Proceeds from sales or other redemptions $ 496,907 $ 454,421 $ 414,139
Schedule of Unrealized Net Gains (Losses) Recognized in NI on Equity Securities Still Held at Period-End	The components of net gains (losses) recognized in net income on equity securities still held as of period-end were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Net gains (losses) recognized on equity securities $ (2,435 ) $ 5,207 $ (2,456 ) Less: Net gains (losses) recognized on equity securities sold (281 ) (254 ) (48 ) Net gains (losses) recognized in net income on equity securities still held as of period-end $ (2,154 ) $ 5,461 $ (2,408 )
Schedule of Securities in Unrealized Loss Position	The following tables summarizes all AFS securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2020, aggregated by major security type and by length of time such securities have continuously been in an unrealized loss position: December 31, 2020 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (Dollars in thousands) Fixed-maturity securities: U.S. government and agencies $ 1,619 $ (3 ) $ - $ - Foreign government 4,034 (39 ) - - States and political subdivisions 449 (1 ) - - Corporates 68,057 (1,628 ) 11,964 (917 ) Residential mortgage-backed securities 1,672 (35 ) 862 (19 ) Commercial mortgage-backed securities 10,200 (50 ) 2,168 (6 ) Other asset-backed securities 11,988 (536 ) 3,150 (49 ) Total fixed-maturity securities $ 98,019 $ (2,292 ) $ 18,144 $ (991 ) The following table summarizes all AFS securities as of December 31, 2019 (prior to adoption of ASC 326), in an unrealized loss position, the aggregate fair value and the gross unrealized loss by length of time such securities have continuously been in an unrealized loss position: December 31, 2019 Less than 12 months 12 months or longer Fair value Unrealized losses Fair value Unrealized losses (Dollars in thousands) Fixed-maturity securities: U.S. government and agencies $ - $ - $ - $ - Foreign government 11,824 (144 ) 8,578 (91 ) States and political subdivisions 39,379 (690 ) 4,000 (5 ) Corporates 52,474 (453 ) 21,739 (665 ) Residential mortgage-backed securities 40,690 (207 ) 2,071 (15 ) Commercial mortgage-backed securities 11,526 (28 ) 12,835 (71 ) Other asset-backed securities 22,501 (190 ) 4,613 (53 ) Total fixed-maturity securities $ 178,394 $ (1,712 ) $ 53,836 $ (900 )
Rollforward of Allowance for Credit Losses on Available-for-sale Securities	The rollforward of the allowance for credit losses on available-for-sale securities for the year ended December 31, 2020 was as follows: Year ended December 31, 2020 (In thousands) Allowance for credit losses, beginning of period $ - Additions to the allowance for credit losses on securities for which credit losses were not previously recorded 525 Additional increases (or decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period (51 ) Write-offs charged against the allowance, if any (474 ) Allowance for credit losses, end of period $ -
OTTI in Earnings on AFS Securities	OTTI recognized in earnings on AFS securities were as follows: Year ended December 31, 2019 2018 (In thousands) OTTI on fixed-maturity securities not in default $ 1,330 $ 152 OTTI on fixed-maturity securities in default 3 - Total OTTI recognized in earnings $ 1,333 $ 152
Schedule of OTTI Recognized in Earnings for AFS Securities	The rollforward of the OTTI recognized in net income for all AFS fixed-maturity securities still held was as follows: Year ended December 31, 2019 (In thousands) Cumulative OTTI recognized in net income for securities still held, beginning of period $ 2,511 Additions for securities where no OTTI were recognized prior to the beginning of the period 1,126 Additions for securities where OTTI have been recognized prior to the beginning of the period 207 Reductions due to sales, maturities, calls, amortization or increases in cash flows expected to be collected over the remaining life of credit-impaired securities (543 ) Reductions for exchanges of securities previously impaired - Cumulative OTTI recognized in net income for securities still held, end of period $ 3,301
AFS [Member]
Schedule of Investments Debt and Equity Securities [Line Items]
Schedule of OTTI Recognized in Earnings for AFS Securities	OTTI recognized in earnings for AFS securities were as follows: Year ended December 31, 2019 2018 (In thousands) Total OTTI related to securities which the Company does not intend to sell or more-likely-than-not will not be required to sell: Total OTTI losses recognized $ 3 $ 152 Less portion of OTTI recognized in accumulated other comprehensive income (loss) - - OTTI recognized in earnings for securities which the Company does not intend to sell or more-likely than-not will not be required to sell before recovery 3 152 OTTI recognized in earnings for securities which the Company intends to sell or more-likely-than-not will be required to sell before recovery 1,330 - OTTI recognized in earnings $ 1,333 $ 152

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	The estimated fair value and hierarchy classifications for assets and liabilities that are measured at fair value on a recurring basis were as follows: December 31, 2020 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 10,144 $ - $ 10,144 Foreign government - 183,252 - 183,252 States and political subdivisions - 170,689 - 170,689 Corporates 6,074 1,622,094 - 1,628,168 Mortgage-and asset-backed securities: Residential mortgage-backed securities - 272,714 27 272,741 Commercial mortgage-backed securities - 112,865 - 112,865 Other asset-backed securities - 86,752 - 86,752 Total available-for-sale securities 6,074 2,458,510 27 2,464,611 Equity securities 34,910 1,093 2,020 38,023 Trading securities - 16,300 - 16,300 Separate accounts - 2,659,520 - 2,659,520 Total fair value assets $ 40,984 $ 5,135,423 $ 2,047 $ 5,178,454 Fair value liabilities: Separate accounts $ - $ 2,659,520 $ - $ 2,659,520 Total fair value liabilities $ - $ 2,659,520 $ - $ 2,659,520 December 31, 2019 Level 1 Level 2 Level 3 Total (In thousands) Fair value assets: Available-for-sale fixed-maturity securities: U.S. government and agencies $ - $ 10,484 $ - $ 10,484 Foreign government - 161,072 - 161,072 States and political subdivisions - 122,593 - 122,593 Corporates 5,865 1,493,786 - 1,499,651 Mortgage-and asset-backed securities: Residential mortgage-backed securities - 312,497 26 312,523 Commercial mortgage-backed securities - 132,005 - 132,005 Other asset-backed securities - 118,244 424 118,668 Total available-for-sale securities 5,865 2,350,681 450 2,356,996 Equity securities 39,499 1,050 135 40,684 Trading securities - 43,233 - 43,233 Separate accounts - 2,485,745 - 2,485,745 Total fair value assets $ 45,364 $ 4,880,709 $ 585 $ 4,926,658 Fair value liabilities: Separate accounts $ - $ 2,485,745 $ - $ 2,485,745 Total fair value liabilities $ - $ 2,485,745 $ - $ 2,485,745
Roll forward of Level 3 Assets Measured on Recurring Basis	The roll-forward of the Level 3 assets measured at fair value on a recurring basis was as follows: Year ended December 31, 2020 2019 (In thousands) Level 3 assets, beginning of period $ 585 $ 921 Net unrealized gains (losses) included in other comprehensive income 3 (18 ) Realized gains (losses) and accretion (amortization) recognized in earnings 39 (52 ) Purchases 2,975 - Settlements (1,555 ) (197 ) Transfers into Level 3 - 424 Transfers out of Level 3 - (493 ) Level 3 assets, end of period $ 2,047 $ 585
Carrying Values and Estimated Fair Values of Financial Instruments	The carrying values and estimated fair values of our financial instruments were as follows: December 31, 2020 December 31, 2019 Carrying value Estimated fair value Carrying value Estimated fair value (In thousands) Assets: Fixed-maturity securities (available-for-sale) $ 2,464,611 $ 2,464,611 $ 2,356,996 $ 2,356,996 Fixed-maturity security (held-to-maturity) (3) 1,346,350 1,606,208 1,184,370 1,299,102 Equity securities 38,023 38,023 40,684 40,684 Trading securities 16,300 16,300 43,233 43,233 Policy loans (3) 30,199 30,199 32,927 32,927 Deposit asset underlying 10% (3) 236,865 236,865 233,499 233,499 Separate accounts 2,659,520 2,659,520 2,485,745 2,485,745 Liabilities: Notes payable (1 ) ( 2) 374,415 399,377 374,037 395,522 Surplus note (1 ) ( 3) 1,345,772 1,596,599 1,183,728 1,296,972 Separate accounts 2,659,520 2,659,520 2,485,745 2,485,745 (1) Carrying value amounts shown are net of issuance costs. (2) Classified as level 2 fair value measurement. (3) Classified as level 3 fair value measurement.

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
In-force Life Insurance	The following table represents the Company’s in-force life insurance as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 (Dollars in thousands) Direct life insurance in-force $ 861,392,223 $ 810,995,295 Amounts ceded to other companies (742,356,917 ) (702,727,956 ) Net life insurance in-force $ 119,035,306 $ 108,267,339 Percentage of reinsured life insurance in-force 86 % 87 %
Reinsurance Recoverables and Financial Strength Ratings by Reinsurer	Reinsurance recoverables includes ceded reserve balances and ceded claim liabilities. Reinsurance recoverables and financial strength ratings by reinsurer were as follows: December 31, 2020 December 31, 2019 Reinsurance recoverables A.M. Best rating Reinsurance recoverables A.M. Best rating (In thousands) Pecan Re Inc. (1) (2) $ 2,654,698 NR $ 2,696,924 NR SCOR Global Life Reinsurance Companies (3) 395,804 A+ 352,049 A+ Munich Re of Malta (2) (5) 285,350 NR 286,433 NR Swiss Re Life & Health America Inc. (4) 251,409 A+ 233,572 A+ American Health and Life Insurance Company (2) 163,082 B++ 167,471 B++ Munich American Reassurance Company 137,312 A+ 118,372 A+ Korean Reinsurance Company 123,568 A 108,410 A RGA Reinsurance Company 125,492 A+ 100,328 A+ Hannover Life Reassurance Company 41,201 A+ 33,772 A+ TOA Reinsurance Company 34,212 A 26,160 A All other reinsurers 68,920 - 48,679 - Allowance for credit losses (7,144 ) (2,347 ) Reinsurance recoverables $ 4,273,904 $ 4,169,823 NR – not rated (1) Pecan Re Inc. (“Pecan Re”) is a wholly owned subsidiary of Swiss Re Life & Health America Inc. (“Swiss Re”). (2) (3) Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies. (4) (5)
Allowance for Credit Loss on Reinsurance Recoverable	The rollforward of the allowance for credit losses on reinsurance recoverables for the year ended December 31, 2020 was as follows: Year ended December 31, 2020 (In thousands) Balance, beginning of period (1) $ 3,917 Current period provision for expected credit losses 3,235 Less: Recoveries of expected credit losses previously recorded (8 ) Balance, at the end of period $ 7,144 (1)

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs Balance Roll Forward	The balances and activity in DAC were as follows: Year ended December 31, 2020 2019 2018 (In thousands) DAC balance, beginning of period $ 2,325,750 $ 2,133,920 $ 1,951,892 Capitalization 522,705 433,769 441,874 Amortization (224,321 ) (254,552 ) (239,730 ) Foreign exchange translation and other 5,510 12,613 (20,116 ) DAC balance, end of period $ 2,629,644 $ 2,325,750 $ 2,133,920

Separate Accounts (Tables)

Separate Accounts (Tables)	12 Months Ended
	Dec. 31, 2020
Separate Accounts Disclosure [Abstract]
Schedule of Fair Value of Separate Accounts by Major Category of Investment	The following table represents the fair value of assets supporting separate accounts by major investment category: Year ended December 31, 2020 2019 (In thousands) Fixed-income securities $ 1,212,275 $ 970,098 Equity securities 1,362,399 1,318,351 Cash and cash equivalents 87,046 199,723 Due to/from funds (2,251 ) (2,489 ) Other 51 62 Total separate accounts assets $ 2,659,520 $ 2,485,745

Policy Claims and Other Benef_2

Policy Claims and Other Benefits Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense [Abstract]
Schedule of Liability For Future Policy Benefits and Unpaid Claims	Changes in policy claims and other benefits payable were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Policy claims and other benefits payable, beginning of period $ 339,954 $ 313,862 $ 307,401 Less reinsured policy claims and other benefits payable 388,797 318,653 322,137 Net balance, beginning of period (48,843 ) (4,791 ) (14,736 ) Incurred related to current year 236,157 186,857 176,854 Incurred related to prior years (1) (4,033 ) (869 ) (1,355 ) Total incurred 232,124 185,988 175,499 Claims paid related to current year, net of reinsured policy claims received (268,914 ) (244,997 ) (187,453 ) Reinsured policy claims received related to prior years, net of claims paid 60,144 14,614 22,426 Total paid (208,770 ) (230,383 ) (165,027 ) Foreign currency translation 170 343 (527 ) Net balance, end of period (25,319 ) (48,843 ) (4,791 ) Add reinsured policy claims and other benefits payable 545,030 388,797 318,653 Balance, end of period $ 519,711 $ 339,954 $ 313,862 (1) Includes the difference between our estimate of claims incurred but not yet reported at year end and the actual incurred claims reported after year end.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Notes Payable. Notes payable consisted of the following: December 31, 2020 December 31, 2019 (In thousands) 4.75% Senior Notes, due July 15, 2022 $ 375,000 $ 375,000 Unamortized issuance discount on notes payable (107 ) (174 ) Total notes payable $ 374,893 $ 374,826

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Income tax expense. Income tax expense (benefit) consists of the following: Current Deferred Total (In thousands) Year ended December 31, 2020 Federal $ 88,837 $ 853 $ 89,690 Foreign 26,749 (547 ) 26,202 State and local 4,714 (40 ) 4,674 Total tax expense $ 120,300 $ 266 $ 120,566 Year ended December 31, 2019 Federal $ 76,289 $ 6,628 $ 82,917 Foreign 32,239 (7,469 ) 24,770 State and local 3,033 - 3,033 Total tax expense $ 111,561 $ (841 ) $ 110,720 Year ended December 31, 2018 Federal $ 50,691 $ 17,399 $ 68,090 Foreign 36,028 (14,809 ) 21,219 State and local 2,681 - 2,681 Total tax expense $ 89,400 $ 2,590 $ 91,990
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation for such difference follows: Year ended December 31, 2020 2019 2018 Amount Percentage Amount Percentage Amount Percentage (Dollars in thousands) Computed tax expense $ 106,413 21.0 % $ 100,193 21.0 % $ 87,378 21.0 % Difference between foreign statutory rate and U.S. statutory rate 5,075 1.0 % 4,898 1.0 % 4,474 1.1 % Recognition of foreign tax credits - — % - — % (6,069 ) (1.5 )% Change in valuation allowance on foreign tax credits - — % - — % 6,069 1.5 % Other 9,078 1.8 % 5,629 1.2 % 138 — % Total tax expense / effective rate $ 120,566 23.8 % $ 110,720 23.2 % $ 91,990 22.1 %
Schedule of Deferred Tax Assets and Liabilities	Deferred tax assets and liabilities. The main components of deferred income tax assets and liabilities were as follows: December 31, 2020 2019 (In thousands) Deferred tax assets: Future policy benefit reserves and unpaid policy claims $ 285,926 $ 245,247 Future deductible liabilities 18,933 17,920 Foreign tax credits 46,455 46,455 Other 35,320 41,615 Total deferred tax assets before valuation allowance 386,634 351,237 Valuation allowance on foreign tax credits (46,455 ) (46,455 ) Total deferred tax assets after valuation allowance $ 340,179 $ 304,782 Deferred tax liabilities: Deferred policy acquisition costs (352,312 ) (314,969 ) Investments (32,316 ) (17,630 ) Reinsurance deposit asset (49,742 ) (49,035 ) Other (39,002 ) (42,675 ) Total deferred tax liabilities (473,372 ) (424,309 ) Net deferred tax liabilities $ (133,193 ) $ (119,527 )
Summary of Income Tax Contingencies	A reconciliation of the change in the unrecognized income tax benefit for the years ended December 31, 2020 and 2019 is as follows: December 31, 2020 2019 (In thousands) Unrecognized tax benefits, beginning of period $ 15,805 $ 15,173 Change in prior period unrecognized tax benefits 40 (583 ) Change in current period unrecognized tax benefits 3,296 3,036 Reductions as a result of a lapse in statute of limitations (2,037 ) (1,821 ) Unrecognized tax benefits, end of period $ 17,104 $ 15,805

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders Equity Note [Abstract]
Reconciliation of Number of Shares of Common Stock	A reconciliation of the number of shares of our common stock follows: Year ended December 31, 2020 2019 2018 (In thousands) Common stock, beginning of period 41,207 42,694 44,251 Shares issued for stock options exercised - 4 33 Shares of common stock issued upon lapse of RSUs 335 438 528 Common stock retired (2,236 ) (1,929 ) (2,118 ) Common stock, end of period 39,306 41,207 42,694

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	The calculation of basic and diluted EPS was as follows: Year ended December 31, 2020 2019 2018 (In thousands, except per-share amounts) Basic EPS: Numerator: Net income $ 386,164 $ 366,391 $ 324,094 Income attributable to unvested participating securities (1,671 ) (1,654 ) (1,893 ) Net income used in calculating basic EPS $ 384,493 $ 364,737 $ 322,201 Denominator: Weighted-average vested shares 40,065 42,181 43,854 Basic EPS $ 9.60 $ 8.65 $ 7.35 Diluted EPS: Numerator: Net income $ 386,164 $ 366,391 $ 324,094 Income attributable to unvested participating securities (1,667 ) (1,650 ) (1,888 ) Net income used in calculating diluted EPS $ 384,497 $ 364,741 $ 322,206 Denominator: Weighted-average vested shares 40,065 42,181 43,854 Dilutive effect of incremental shares to be issued for contingently-issuable shares 120 133 131 Weighted-average shares used in calculating diluted EPS 40,185 42,314 43,985 Diluted EPS $ 9.57 $ 8.62 $ 7.33

Share-Based Transactions (Table

Share-Based Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes employee and director RSU activity during the years ended December 31, 2020, 2019, and 2018. Shares Weighted-average measurement-date fair value per share (Shares in thousands) Unvested employee and director RSUs, December 31, 2017 312 $ 59.10 Granted 106 100.00 Forfeited - (1 ) 82.20 Vested (186 ) 58.51 Unvested employee and director RSUs, December 31, 2018 232 78.22 Granted 93 123.04 Forfeited - (1 ) 104.38 Vested (145 ) 70.53 Unvested employee and director RSUs, December 31, 2019 180 107.59 Granted 94 119.03 Forfeited - (1 ) 121.42 Vested (108 ) 101.75 Unvested employee and director RSUs, December 31, 2020 166 117.87 (1) Less than 1,000 shares
Schedule of Share-Based Transactions, PSU Activity	The following table summarizes PSU activity during the years ended December 31, 2020, 2019, and 2018. Shares Weighted-average measurement-date fair value per share (Shares in thousands) Unvested employee PSUs, December 31, 2017 54 $ 67.42 Granted 31 100.55 Forfeited - - Vested - - Unvested employee PSUs, December 31, 2018 85 79.34 Granted 25 122.62 Forfeited - - Performance Adjustment 4 41.88 Vested (23 ) 41.88 Unvested employee PSUs, December 31, 2019 92 98.79 Granted 26 121.42 Forfeited - - Performance Adjustment 5 80.45 Vested (41 ) 80.45 Unvested employee PSUs, December 31, 2020 (1) 82 113.99 (1 ) The 2018 PSU awards outstanding are based on target. Based on the actual performance achieved during the three-year performance period ended December 31, 2020, recipients will receive an aggregate of 33,605 shares of common stock on the vesting date of March 1, 2021. The 2019 PSU awards outstanding are based on target. Depending upon the performance achieved during the performance period, recipients may receive between 0 and 38,225 shares of common stock. The 2020 PSU awards outstanding are based on target. Depending upon the performance achieved during the performance period, recipients may receive between 0 and 38,601 shares of common stock.
Summary of Activity Related to Stock Options Outstanding and Exercisable	The following table summarizes activity related to stock options outstanding and exercisable during the years ended December 31, 2020, 2019, and 2018: Outstanding Exercisable Number of shares Weighted average exercise price Number of shares Weighted average exercise price (Shares in thousands) Outstanding at December 31, 2017 107 $ 45.15 32 $ 47.26 Granted - - Exercised (33 ) 47.59 Outstanding at December 31, 2018 74 44.07 44 45.55 Granted - - Exercised (4 ) 41.20 Outstanding at December 31, 2019 70 44.23 70 44.23 Granted - - Exercised - - Outstanding at December 31, 2020 70 44.23 70 44.23 Range of granted option exercise prices outstanding at December 31, 2020 $41.20 (average term remaining - 3.1 years) 3 $ 41.20 3 $ 41.20 $53.50 (average term remaining - 4.2 years) 14 53.50 14 53.50 $41.88 (average term remaining - 5.2 years) 52 41.88 52 41.88
Summary of Intrinsic Value, Tax Benefit Realized and Value of Shares Withheld Related to Option Exercise Activity	The intrinsic value, tax benefit realized and value of shares withheld related to option exercise activity are summarized as follows: Year ended December 31, 2020 2019 2018 (In thousands) Intrinsic value of options exercised $ - $ 369 $ 1,953 Tax benefit realized from the options exercised - - - Value of issued shares withheld to satisfy option exercise price - 161 1,562
Schedule of Share-based Goods and Nonemployee Services Transaction by Supplier	The following table summarizes non-employee RSU activity during the years ended December 31, 2020, 2019, and 2018. Shares Weighted-average measurement-date fair value per share (Shares in thousands) Unvested non-employee RSUs, December 31, 2017 32 $ 91.88 Granted 124 102.43 Vested (122 ) 101.01 Unvested non-employee RSUs, December 31, 2018 34 97.71 Granted 105 124.51 Vested (115 ) 115.01 Unvested non-employee RSUs, December 31, 2019 24 132.68 Granted 128 106.65 Vested (126 ) 105.71 Unvested non-employee RSUs, December 31, 2020 26 134.75
Schedule of Compensation Cost and Tax Benefits for Share Based Payment Arrangements Nonemployee Equity Awards	Details on the granting and valuation of these awards were as follows: Year ended December 31, 2020 2019 2018 (Dollars in thousands, except per-share amounts) Quarterly incentive awards expense recognized currently $ 3,630 $ 3,441 $ 3,288 Quarterly incentive awards expense deferred 10,071 9,663 9,484 Tax benefit associated with incentive awards 2,692 2,465 2,437
Restricted stock units (RSUs) [Member] | Employee and Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Share-Based Compensation, Recognized Expense and Tax Benefit Offsets	We recognized expense and tax benefit offsets as follows for employee and director RSU share-based compensation: Year ended December 31, 2020 2019 2018 (In thousands) Total equity awards expense recognized $ 11,218 $ 10,557 $ 10,684 Tax benefit associated with total employee and director share-based compensation 1,455 1,434 1,495
Performance share units (PSUs) [Member] | Employee [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Share-Based Compensation, Recognized Expense and Tax Benefit Offsets	In connection with our granting of PSU awards, we recognized expense and tax benefit offsets as follows: Year ended December 31, 2020 2019 2018 (In thousands) Total employee PSU award expense $ 4,179 $ 3,516 $ 3,240 Tax benefit associated with total employee PSU award expense - - 191
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Share-Based Compensation, Recognized Expense and Tax Benefit Offsets	Compensation expense and related tax benefits recognized for stock option awards were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Expense recognized for stock option awards $ - $ 6 $ 39 Tax benefit recognized for stock option awards - - 8

Statutory Accounting and Divi_2

Statutory Accounting and Dividend Restrictions (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Statutory Accounting Practices Disclosure	Primerica Life’s statutory capital and surplus as of December 31, 2020 and 2019 were as follows: December 31, 2020 December 31, 2019 (In thousands) Statutory capital and surplus $ 650,114 $ 666,055

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of Revenues from Contracts	The disaggregation of our revenues from contracts with customers were as follows: Year ended December 31, 2020 2019 2018 (In thousands) Term Life Insurance segment revenues: Other, net $ 46,079 $ 40,848 $ 42,374 Total segment revenues from contracts with customers 46,079 40,848 42,374 Revenues from sources other than contracts with customers 1,336,691 1,186,383 1,080,826 Total Term Life Insurance segment revenues $ 1,382,770 $ 1,227,231 $ 1,123,200 Investment and Savings Products segment revenues: Commissions and fees: Sales-based revenues $ 284,651 $ 282,887 $ 259,991 Asset-based revenues 282,080 260,451 245,295 Account-based revenues 83,041 80,555 81,802 Other, net 11,271 10,017 9,631 Total segment revenues from contracts with customers 661,043 633,910 596,719 Revenues from sources other than contracts with customers (segregated funds) 57,824 57,698 58,357 Total Investment and Savings Products segment revenues $ 718,867 $ 691,608 $ 655,076 Corporate and Other Distributed Products segment revenues: Commissions and fees (1) $ 43,675 $ 32,213 $ 32,162 Other, net 3,719 4,660 4,982 Total segment revenues from contracts with customers 47,394 36,873 37,144 Revenues from sources other than contracts with customers 68,510 96,792 84,423 Total Corporate and Other Distributed Products segment revenues $ 115,904 $ 133,665 $ 121,567 (1) Commissions and fees for the year ended December 31, 2020 and 2019 include $5.5 million and $5.5 million, respectively, attributable to performance obligations satisfied in a previous reporting period and represent the collection of variable consideration in the transaction price that had been previously constrained.
Summary of Contract Asset Account	Activity in the contract asset account was as follows: December 31, 2020 December 31, 2019 (In thousands) Balance, beginning of period $ 51,701 $ 50,119 Current period sales, net of collection of renewal commissions 3,144 1,582 Balance, at the end of period $ 54,845 $ 51,701

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Lessee Disclosure [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: Year ended December 31, 2020 2019 (In thousands) Operating lease cost Operating lease cost $ 7,638 $ 7,650 Variable lease cost (includes taxes, common area maintenance and insurance) 725 675 Finance lease cost Depreciation of finance lease assets 280 277 Interest on lease liabilities 56 46 Total lease cost $ 8,699 $ 8,648
Schedule of Other Information Related to Leases	Other information related to leases was as follows: December 31, 2020 December 31, 2019 (In thousands) Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in operating leases (1) $ 7,737 $ 7,656 Operating cash flows used in finance leases (1) 56 46 Financing cash flows used in finance leases 274 281 (1) Included in change in other operating assets and liabilities, net in the accompanying consolidated statements of cash flows. December 31, 2020 December 31, 2019 (In thousands) Weighted Average Remaining Lease Term Operating leases 8 years 9 years Finance leases 4 years 3 years Weighted Average Discount Rate Operating leases 4.5 % 4.6 % Finance leases 7.1 % 6.8 %
Schedule of Future Minimum Lease Payments Under Non-Cancellable Leases	Future minimum lease payments under non-cancellable leases were as follows: Operating Leases Finance Leases Year Ended December 31, (In thousands) 2021 $ 7,937 $ 320 2022 7,938 267 2023 7,916 194 2024 7,905 161 2025 7,839 83 Thereafter 23,167 - Total minimum rental commitments for operating leases 62,702 1,025 Less imputed interest 9,896 123 Total lease liabilities $ 52,806 $ 902

Description of Business, Basi_4

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Indefinite-lived intangible asset	$ 45,275	$ 45,275
Total intangible assets, Gross carrying amount	45,275	45,275
Total intangible assets, Net carrying amount	$ 45,275	$ 45,275

Description of Business, Basi_5

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Depreciation expense	$ 18,000	$ 15,700	$ 9,000
Guarantee maturity value as percentage of net premiums	75.00%
Retained earnings	$ 1,705,786	$ 1,593,281
Cumulative Effect, Period of Adoption, Adjustment [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Retained earnings				$ 1,200
Minimum [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Interest rate reserve assumptions	3.00%	3.00%
Maximum [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Interest rate reserve assumptions	7.00%	7.00%
Noncompete Agreements [Member]
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items]
Intangible asset amortization expense		$ 2,800	$ 3,400
Intangible assets, life		24 years

Description of Business, Basi_6

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies - Property, Plant and Equipment Useful Life (Details)	12 Months Ended
	Dec. 31, 2020
Data Processing Equipment and Software [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Property and equipment, Useful life	3 years
Data Processing Equipment and Software [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Property and equipment, Useful life	7 years
Leasehold Improvements [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Property and equipment, Useful life	15 years
Furniture and Fixtures [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Property and equipment, Useful life	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Property and equipment, Useful life	15 years

Description of Business, Basi_7

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Data processing equipment and software	$ 104,364	$ 86,794
Leasehold improvements	18,764	19,079
Other, principally furniture and equipment	35,099	31,391
Total property, plant and equipment, Gross	158,227	137,264
Accumulated depreciation	(100,500)	(91,148)
Net property and equipment	$ 57,727	$ 46,116

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Foreign currency translation adjustments:
Change in unrealized foreign currency translation gains (losses)	$ 7,343	$ 15,299	$ (25,059)
Change in unrealized foreign currency translation gains (losses), net of income taxes	7,343	15,299	(25,059)
Unrealized gain (losses) on available-for-sale securities:
Change in unrealized holding gains (losses) arising during period before income taxes	78,533	91,160	(59,661)
Income tax expense (benefit) on unrealized holding gains (losses) arising during period	17,033	19,427	(12,681)
Change in unrealized holding gains (losses) on available-for-sale securities arising during period, net of income taxes	61,500	71,733	(46,980)
Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities	2,614	253	(45)
Income tax (expense) benefit on (gains) losses reclassified from accumulated OCI to net income	549	53	(9)
Reclassification from accumulated OCI to net income for (gains) losses realized on available-for-sale securities, net of income taxes	2,065	200	(36)
Change in unrealized gains (losses) on available-for-sale securities, net of income taxes and reclassification adjustment	$ 63,565	$ 71,933	$ (47,016)

Segment and Geographical Info_3

Segment and Geographical Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2020Segment
Segment Reporting Information [Line Items]
Number of operating segments	2
Vidalia Re Coinsurance Agreement [Member]
Segment Reporting Information [Line Items]
Percentage of coinsurance costs	10.00%

Segment and Geographical Info_4

Segment and Geographical Information - Summary of Assets and Profit or Loss by Segment (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues		$ 2,217,541	$ 2,052,504	$ 1,899,843
Net investment income		83,814	94,073	81,430
Amortization of deferred policy acquisition costs		224,321	254,552	239,730
Non-cash share-based compensation expense		19,027	17,520	17,251
Income (loss) before income taxes		506,730	477,111	416,084
Assets		14,905,285	13,688,531	12,595,048
Term Life Insurance Segment [Member]
Segment Reporting Information [Line Items]
Revenues		1,382,770	1,227,231	1,123,200
Net investment income		27,030	19,922	13,747
Amortization of deferred policy acquisition costs		216,208	248,711	228,613
Non-cash share-based compensation expense		3,612	3,605	4,135
Income (loss) before income taxes		372,551	320,093	281,904
Assets		6,985,086	6,546,129	6,322,555
Investment and Savings Products Segment [Member]
Segment Reporting Information [Line Items]
Revenues		718,867	691,608	655,076
Amortization of deferred policy acquisition costs		7,055	4,549	9,766
Non-cash share-based compensation expense		3,045	3,440	2,695
Income (loss) before income taxes		202,644	191,812	173,912
Assets	[1]	2,769,445	2,598,493	2,298,238
Corporate and Other Distributed Products Segment [Member]
Segment Reporting Information [Line Items]
Revenues		115,904	133,665	121,567
Net investment income		56,784	74,151	67,683
Amortization of deferred policy acquisition costs		1,058	1,292	1,351
Non-cash share-based compensation expense		12,370	10,475	10,421
Income (loss) before income taxes		(68,465)	(34,794)	(39,732)
Assets		$ 5,150,754	$ 4,543,909	$ 3,974,255
[1]	The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $110.0 million, $112.8 million, and $102.8 million as of December 31, 2020, 2019, and 2018, respectively.

Segment and Geographical Info_5

Segment and Geographical Information - Summary of Assets and Profit or Loss by Segment (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investment and Savings Products Segment [Member]
Segment Reporting Information [Line Items]
Assets, excluding separate account assets	$ 110	$ 112.8	$ 102.8

Segment and Geographical Info_6

Segment and Geographical Information - Long Lived Assets and Continuing Operations by Country (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	$ 2,217,541	$ 2,052,504	$ 1,899,843
Income (loss) before income taxes	506,730	477,111	416,084
Long-lived assets	57,727	46,116	35,996
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	1,895,708	1,747,609	1,607,140
Income (loss) before income taxes	411,751	390,431	337,914
Long-lived assets	53,281	41,200	30,999
Canada [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	321,833	304,895	292,703
Income (loss) before income taxes	94,979	86,680	78,170
Long-lived assets	$ 4,446	$ 4,916	$ 4,997

Investments - Schedule of AFS S

Investments - Schedule of AFS Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	$ 2,301,238	$ 2,274,770
Available-for-sale debt securities gross unrealized gain	166,656	84,838
Available-for-sale debt securities, gross unrealized loss	(3,283)	(2,612)
Available-for-sale debt securities, at fair value	2,464,611	2,356,996
U.S. Government and Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	9,747	10,197
Available-for-sale debt securities gross unrealized gain	400	287
Available-for-sale debt securities, gross unrealized loss	(3)
Available-for-sale debt securities, at fair value	10,144	10,484
Foreign Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	169,967	154,945
Available-for-sale debt securities gross unrealized gain	13,324	6,362
Available-for-sale debt securities, gross unrealized loss	(39)	(235)
Available-for-sale debt securities, at fair value	183,252	161,072
States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	161,058	120,000
Available-for-sale debt securities gross unrealized gain	9,632	3,288
Available-for-sale debt securities, gross unrealized loss	(1)	(695)
Available-for-sale debt securities, at fair value	170,689	122,593
Corporates [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	1,506,549	1,436,877
Available-for-sale debt securities gross unrealized gain	124,164	63,892
Available-for-sale debt securities, gross unrealized loss	(2,545)	(1,118)
Available-for-sale debt securities, at fair value	1,628,168	1,499,651
Residential Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	261,376	305,897
Available-for-sale debt securities gross unrealized gain	11,419	6,848
Available-for-sale debt securities, gross unrealized loss	(54)	(222)
Available-for-sale debt securities, at fair value	272,741	312,523
Commercial Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	107,020	128,913
Available-for-sale debt securities gross unrealized gain	5,901	3,191
Available-for-sale debt securities, gross unrealized loss	(56)	(99)
Available-for-sale debt securities, at fair value	112,865	132,005
Other Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, amortized cost basis	85,521	117,941
Available-for-sale debt securities gross unrealized gain	1,816	970
Available-for-sale debt securities, gross unrealized loss	(585)	(243)
Available-for-sale debt securities, at fair value	$ 86,752	$ 118,668

Investments - Fixed-maturity Se

Investments - Fixed-maturity Securities Classified by Contractual Maturity Securities Date (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Available-for-sale Securities, Debt Maturities [Abstract]
Due in one year or less, amortized cost	$ 178,278
Due after one year through five years, amortized cost	831,986
Due after five years through 10 years, amortized cost	546,330
Due after 10 years, amortized cost	290,727
Total fixed-maturity securities with single maturity dates, amortized cost	1,847,321
Mortgage and asset-backed securities, amortized cost	453,917
Available-for-sale debt securities, amortized cost basis	2,301,238	$ 2,274,770
Due in one year or less, fair value	180,954
Due after one year through five years, fair value	894,191
Due after five years through 10 years, fair value	598,767
Due after 10 years, fair value	318,341
Total fixed-maturity securities with single maturity dates, fair value	1,992,253
Mortgage and asset-backed securities, fair value	472,358
Available-for-sale debt securities, at fair value	$ 2,464,611	$ 2,356,996

Investments - Costs and Fair Va

Investments - Costs and Fair Values of Fixed-Maturity Securities Classified as Trading Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total trading securities, cost	$ 16,359	$ 43,257
Fixed-maturity Securities [Member]
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total trading securities, cost	16,359	43,257
Total trading securities, Fair value	$ 16,300	$ 43,233

Investments - Held-to-maturity

Investments - Held-to-maturity Security - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Schedule Of Held To Maturity Securities [Line Items]
Debt instrument, maturity date	Jul. 15, 2022
Debt instrument, interest rate, stated percentage	4.75%
Held-to-maturity debt security estimated unrealized holding gain	$ (259.9)
LLC Note [Member]
Schedule Of Held To Maturity Securities [Line Items]
Debt instrument, maturity date	Dec. 31, 2030
Debt instrument, interest rate, stated percentage	4.50%
Surplus Note [Member]
Schedule Of Held To Maturity Securities [Line Items]
Debt instrument, maturity date	Dec. 31, 2030
Debt instrument, interest rate, stated percentage	4.50%

Investments - Fair Value of Inv

Investments - Fair Value of Investments on Deposit with Governmental Authorities - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Fair values of investments on deposit	$ 7.7	$ 7.5

Investments - Securities Lendin

Investments - Securities Lending Collateral - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Securities Received as Collateral [Abstract]
Securities loaned, minimum collateral to loan ratio	102.00%
Securities loaned, additional collateral requirement, decline in collateral value threshold percentage	100.00%
Cash collateral received and reinvested	$ 72.2	$ 28.7

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		$ 148,728	$ 151,254	$ 127,031
Investment expenses		(7,441)	(8,856)	(8,116)
Investment income net of investment expenses		141,287	142,398	118,915
Interest expense on surplus note		(57,473)	(48,325)	(37,485)
Net investment income		83,814	94,073	81,430
Equity Securities [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		1,751	1,845	1,955
Policy Loans and Other Invested Assets [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		1,244	1,069	1,159
Cash and Cash Equivalents [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		1,202	4,758	3,433
Total return on deposit asset underlying 10% insurance agreement [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating	[1]	4,253	13,429	3,643
Available-for-Sale [Member] | Fixed-maturity Securities [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		82,805	81,828	79,356
Held-to-Maturity [Member] | Fixed-maturity Securities [Member]
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income, operating		$ 57,473	$ 48,325	$ 37,485
[1]	Includes $2.0 million, $5.4 million, and $(1.7) million of net gains (losses) recognized for the change in fair value of the deposit asset underlying the 10%

Investments - Net Investment _2

Investments - Net Investment Income (Parenthetical) (Details) - Deposit asset underlying 10% coinsurance agreement [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Net Investment Income, Reported Amounts, by Category [Line Items]
Gains (Losses) recognized for change in fair value of deposit asset underlying the 10% coinsurance agreement	$ 2	$ (5.4)	$ (1.7)
Percentage of coinsurance costs	10.00%	10.00%	10.00%

Investments - Schedule of Net R

Investments - Schedule of Net Realized Investment Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Realized Investment Gains Losses [Abstract]
Gross gains from sales of available-for-sale securities	$ 2,595	$ 1,373	$ 1,162
Gross losses from sales of available-for-sale securities	(955)	(293)	(965)
Credit losses impairment of available-for-sale securities	(4,254)	(1,333)	(152)
Net gains (losses) recognized in net income during the period on equity securities	(2,435)	5,207	(2,456)
Gains (losses) from bifurcated options	57		290
Gains (losses) on trading securities	(4)	11
Net realized investment gains (losses)	$ (4,996)	$ 4,965	$ (2,121)

Investments - Schedule of Proce

Investments - Schedule of Proceeds from Sales or Other Redemptions of Available-For-Sale Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Proceeds From Sale And Maturity Of Available For Sale Securities [Abstract]
Proceeds from sales or other redemptions	$ 496,907	$ 454,421	$ 414,139

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Net Gains (Losses) Recognized in NI on Equity Securities Still Held at Period-End (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Realized Investment Gains Losses [Abstract]
Net gains (losses) recognized on equity securities	$ (2,435)	$ 5,207	$ (2,456)
Less: Net gains (losses) recognized on equity securities sold	(281)	(254)	(48)
Net gains (losses) recognized in net income on equity securities still held as of period-end	$ (2,154)	$ 5,461	$ (2,408)

Investments - Schedule of Secur

Investments - Schedule of Securities in Unrealized Loss Position (Details) - Fixed Maturities - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	$ 98,019	$ 178,394
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(2,292)	(1,712)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	18,144	53,836
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(991)	(900)
U.S. Government and Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	1,619
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(3)
Foreign Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	4,034	11,824
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(39)	(144)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value		8,578
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses		(91)
States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	449	39,379
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(1)	(690)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value		4,000
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses		(5)
Corporates [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	68,057	52,474
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(1,628)	(453)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	11,964	21,739
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(917)	(665)
Residential Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	1,672	40,690
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(35)	(207)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	862	2,071
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(19)	(15)
Commercial Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	10,200	11,526
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(50)	(28)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	2,168	12,835
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	(6)	(71)
Other Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, continuous unrealized loss position, less than 12 months, fair value	11,988	22,501
Available-for-sale securities, continuous unrealized loss position, less than 12 months, aggregate losses	(536)	(190)
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, fair value	3,150	4,613
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate losses	$ (49)	$ (53)

Investments - AFS Securities wi

Investments - AFS Securities with Cost Basis in Excess of Fair Value - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Available for sale securities with cost basis in excess of fair value cost basis	$ 119.4	$ 234.8

Investments - Available-for-sal

Investments - Available-for-sale Securities with Cost Basis in Excess of Fair Value - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
Investments Debt And Equity Securities [Abstract]
Available-for-sale credit losses	$ 4,300
Credit losses adjustment to amortized cost	$ 3,800

Investments - Rollforward of th

Investments - Rollforward of the Allowance for Credit Losses on Available-for-sale Securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Investments Debt And Equity Securities [Abstract]
Additions to the allowance for credit losses on securities for which credit losses were not previously recorded	$ 525
Additional increases (or decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period	(51)
Write-offs charged against the allowance, if any	$ (474)

Investments - OTTI in Earnings

Investments - OTTI in Earnings on AFS Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
OTTI recognized in earnings	$ 4,254	$ 1,333	$ 152
Fixed-maturity Securities [Member] | Investments in fixed-maturity securities not in default [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
OTTI recognized in earnings		1,330	$ 152
Fixed-maturity Securities [Member] | Investments in fixed-maturity securities in default [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
OTTI recognized in earnings		$ 3

Investments - Schedule of OTTI

Investments - Schedule of OTTI Recognized in Earnings for AFS Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Total OTTI losses recognized	$ 4,254	$ 1,333	$ 152
OTTI recognized in earnings	$ 4,254	1,333	152
Does not intend to sell or more-likely-than-not will not be required to sell [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Total OTTI losses recognized		3	152
OTTI recognized in earnings		3	$ 152
Intends to sell or more-likely-than-not will be required to sell before recovery [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
OTTI recognized in earnings		$ 1,330

Investments - Rollforward of OT

Investments - Rollforward of OTTI Recognized in Net Income,AFS Fixed-maturity Securities Still Held (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Other than Temporary Impairment, OTTI Recognized in Earnings [Roll Forward]
Cumulative OTTI recognized in net income for securities still held, beginning of period	$ 2,511
Additions for securities where no OTTI were recognized prior to the beginning of the period	1,126
Additions for securities where OTTI have been recognized prior to the beginning of the period	207
Reductions due to sales, maturities, calls, amortization or increases in cash flows expected to be collected over the remaining life of credit impaired securities	(543)
Cumulative OTTI recognized in net income for securities still held, end of period	$ 3,301

Investments - Impairment Losses

Investments - Impairment Losses on Held-to-maturity Security - Narrative (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Investments Debt And Equity Securities [Abstract]
Cumulative impairment loss held-to-maturity security	$ 0

Investments - Loss from Closed

Investments - Loss from Closed Currency Forward Contracts Recorded in Accumulated Other Comprehensive Income (Loss) - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net [Abstract]
Deferred loss related to closed forward contracts	$ (26.4)	$ (26.4)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	$ 2,464,611	$ 2,356,996
Equity securities	38,023	40,684
Separate account assets	2,659,520	2,485,745
Separate accounts liabilities	$ 2,659,520	2,485,745
Fair value assumptions, percentage of securities assessed by third-party pricing service	94.00%
Fair Value, Recurring Measurements [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 2,464,611	2,356,996
Equity securities	38,023	40,684
Trading securities	16,300	43,233
Separate account assets	2,659,520	2,485,745
Assets, fair value disclosure	5,178,454	4,926,658
Separate accounts liabilities	2,659,520	2,485,745
Liabilities, fair value disclosure	2,659,520	2,485,745
Fair Value, Recurring Measurements [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale securities	6,074	5,865
Equity securities	34,910	39,499
Assets, fair value disclosure	40,984	45,364
Fair Value, Recurring Measurements [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale securities	2,458,510	2,350,681
Equity securities	1,093	1,050
Trading securities	16,300	43,233
Separate account assets	2,659,520	2,485,745
Assets, fair value disclosure	5,135,423	4,880,709
Separate accounts liabilities	2,659,520	2,485,745
Liabilities, fair value disclosure	2,659,520	2,485,745
Fair Value, Recurring Measurements [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale securities	27	450
Equity securities	2,020	135
Assets, fair value disclosure	2,047	585
Fair Value, Recurring Measurements [Member] | U.S. Government and Agencies [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	10,144	10,484
Fair Value, Recurring Measurements [Member] | U.S. Government and Agencies [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	10,144	10,484
Fair Value, Recurring Measurements [Member] | Foreign Government [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	183,252	161,072
Fair Value, Recurring Measurements [Member] | Foreign Government [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	183,252	161,072
Fair Value, Recurring Measurements [Member] | States and Political Subdivisions [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	170,689	122,593
Fair Value, Recurring Measurements [Member] | States and Political Subdivisions [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	170,689	122,593
Fair Value, Recurring Measurements [Member] | Corporates [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	1,628,168	1,499,651
Fair Value, Recurring Measurements [Member] | Corporates [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	6,074	5,865
Fair Value, Recurring Measurements [Member] | Corporates [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	1,622,094	1,493,786
Fair Value, Recurring Measurements [Member] | Residential Mortgage-backed Securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	272,741	312,523
Fair Value, Recurring Measurements [Member] | Residential Mortgage-backed Securities [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	272,714	312,497
Fair Value, Recurring Measurements [Member] | Residential Mortgage-backed Securities [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	27	26
Fair Value, Recurring Measurements [Member] | Commercial Mortgage-backed Securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	112,865	132,005
Fair Value, Recurring Measurements [Member] | Commercial Mortgage-backed Securities [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	112,865	132,005
Fair Value, Recurring Measurements [Member] | Other Asset-backed Securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	86,752	118,668
Fair Value, Recurring Measurements [Member] | Other Asset-backed Securities [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities	$ 86,752	118,244
Fair Value, Recurring Measurements [Member] | Other Asset-backed Securities [Member] | Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total available-for-sale fixed-maturity securities		$ 424

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Rollforward of Level 3 Assets Measured on Recurring Basis (Details) - Fair Value, Recurring Measurements [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Level 3 assets, beginning of period	$ 585	$ 921
Net unrealized gains (losses) included in other comprehensive income	3	(18)
Realized gains (losses) and accretion (amortization) recognized in earnings	39	(52)
Purchases	2,975
Settlements	(1,555)	(197)
Transfers into Level 3		424
Transfers out of Level 3		(493)
Level 3 assets, end of period	$ 2,047	$ 585

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair value security, level 1 to level 2 transfers, amount	$ 0	$ 0
Fair Value security, level 1 to level 3 transfers, amount	$ 0	$ 0

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Carrying Values and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities, at fair value		$ 2,464,611	$ 2,356,996
Fixed-maturity security held to maturity, fair value		1,606,208	1,299,102
Equity securities		38,023	40,684
Separate account assets		2,659,520	2,485,745
Surplus note		1,345,772	1,183,728
Separate accounts liabilities		2,659,520	2,485,745
Fixed-maturity security (held-to-maturity)		1,346,350	1,184,370
Reported Value Measurement [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities, at fair value		2,464,611	2,356,996
Equity securities		38,023	40,684
Trading securities		16,300	43,233
Separate account assets		2,659,520	2,485,745
Separate accounts liabilities		2,659,520	2,485,745
Reported Value Measurement [Member] | Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Policy loans	[1]	30,199	32,927
Surplus note	[1],[2]	1,345,772	1,183,728
Fixed-maturity security (held-to-maturity)	[1]	1,346,350	1,184,370
Reported Value Measurement [Member] | Level 3 [Member] | Deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Deposit asset underlying 10% coinsurance agreement	[1]	236,865	233,499
Reported Value Measurement [Member] | Senior Notes [Member] | Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes payable	[2],[3]	374,415	374,037
Estimate of Fair Value Measurement [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities, at fair value		2,464,611	2,356,996
Equity securities		38,023	40,684
Trading securities		16,300	43,233
Separate account assets		2,659,520	2,485,745
Separate accounts liabilities		2,659,520	2,485,745
Estimate of Fair Value Measurement [Member] | Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed-maturity security held to maturity, fair value	[1]	1,606,208	1,299,102
Policy loans	[1]	30,199	32,927
Surplus note	[1],[2]	1,596,599	1,296,972
Estimate of Fair Value Measurement [Member] | Level 3 [Member] | Deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Deposit asset underlying 10% coinsurance agreement	[1]	236,865	233,499
Estimate of Fair Value Measurement [Member] | Senior Notes [Member] | Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes payable	[2],[3]	$ 399,377	$ 395,522
[1]	Classified as level 3 fair value measurement.
[2]	Carrying value amounts shown are net of issuance costs.
[3]	Classified as level 2 fair value measurement.

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Carrying Values and Estimated Fair Values of Financial Instruments (Parenthetical) (Details)	Dec. 31, 2020	Dec. 31, 2019
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Percentage of coinsurance costs	10.00%	10.00%

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Millions	Mar. 30, 2010	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reinsurance Retention Policy [Line Items]
Amount of life insurance retained on the life of one person		$ 1
Reinsurance recoverable on paid losses		24.3	$ 24.3
Benefits and claims ceded to reinsurers		1,653.6	1,311.3	$ 1,279
Deposit asset underlying 10% coinsurance agreement		$ 236.9	233.5
Percentage of finance charge for statutory reserves		0.50%
Reinsurance, loss on uncollectible accounts in period, amount			$ 2.3
Pecan Re Inc [Member]
Reinsurance Retention Policy [Line Items]
Percentage of risks and rewards of term life insurance policies in force		10.00%
IPO coinsurance agreements [Member]
Reinsurance Retention Policy [Line Items]
Percentage of risks and rewards of term life insurance policies in force		10.00%
Minimum [Member] | IPO coinsurance agreements [Member]
Reinsurance Retention Policy [Line Items]
Percentage of risks and rewards of term life insurance policies in force	80.00%
Maximum [Member] | IPO coinsurance agreements [Member]
Reinsurance Retention Policy [Line Items]
Percentage of risks and rewards of term life insurance policies in force	90.00%

Reinsurance - In-force Life Ins

Reinsurance - In-force Life Insurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
Direct life insurance in-force	$ 861,392,223	$ 810,995,295	$ 783,979,673
Amounts ceded to other companies	(742,356,917)	(702,727,956)	(682,708,797)
Net life insurance in-force	$ 119,035,306	$ 108,267,339	$ 101,270,876
Percentage of reinsured life insurance in-force	86.00%	87.00%

Reinsurance - Reinsurance Recov

Reinsurance - Reinsurance Recoverables and Financial Strength Ratings by Reinsurer (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Ceded Credit Risk [Line Items]
Reinsurance recoverables		$ 4,273,904	$ 4,169,823
Pecan Re Inc [Member] | External credit rating, not rated [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[1],[2]	2,654,698	2,696,924
SCOR Global Life Reinsurance Companies [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[3]	395,804	352,049
Munich Re of Malta [Member] | External credit rating, not rated [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[1],[4]	285,350	286,433
Swiss Re Life & Health America Inc. [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[5]	251,409	233,572
American Health and Life Insurance Company [Member] | AM Best, B++ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables	[1]	163,082	167,471
Munich American Reassurance Company [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		137,312	118,372
Korean Reinsurance Company [Member] | AM Best, A Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		123,568	108,410
RGA Reinsurance [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		125,492	100,328
Hannover Life Reassurance Company [Member] | AM Best, A+ Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		41,201	33,772
TOA Reinsurance Company [Member] | AM Best, A Rating [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		34,212	26,160
All Other Reinsurers [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		68,920	48,679
Allowance for Credit Losses [Member]
Ceded Credit Risk [Line Items]
Reinsurance recoverables		$ (7,144)	$ (2,347)
[1]	Entity is an IPO coinsurer. Reinsurance recoverables includes balances ceded under coinsurance transactions of term life insurance policies that were in force as of December 31, 2009. Amounts shown are net of their share of the reinsurance receivable from other reinsurers. Reinsurance agreements are collateralized by underlying trust assets at least equal to the value of reserves ceded.
[2]	Pecan Re Inc. (“Pecan Re”) is a wholly owned subsidiary of Swiss Re Life & Health America Inc. (“Swiss Re”).
[3]	Includes amounts ceded to Transamerica Reinsurance Companies and fully retroceded to SCOR Global Life Reinsurance Companies.
[4]	Entity is rated AA- by S&P.
[5]	Includes amounts ceded to Lincoln National Life Insurance and fully retroceded to Swiss Re Life & Health America Inc.

Reinsurance - Allowance for Cre

Reinsurance - Allowance for Credit Loss on Reinsurance Recoverable (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Reinsurance Disclosures [Abstract]
Balance, beginning of period	$ 3,917	[1]
Current period provision for expected credit losses	3,235
Less: Recoveries of expected credit losses previously recorded	(8)
Balance, at the end of period	$ 7,144
[1]	The beginning balance for the year ended December 31, 2020 reflects the adjustment made to the allowance for credit losses balance for the adoption of ASC 326 on January 1, 2020.

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Balance RollForward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred Policy Acquisition Costs Disclosures [Abstract]
DAC balance, beginning of period	$ 2,325,750	$ 2,133,920	$ 1,951,892
Capitalization	522,705	433,769	441,874
Amortization	(224,321)	(254,552)	(239,730)
Foreign exchange translation and other	5,510	12,613	(20,116)
DAC balance, end of period	$ 2,629,644	$ 2,325,750	$ 2,133,920

Separate Accounts - Narrative (

Separate Accounts - Narrative (Details)	12 Months Ended
	Dec. 31, 2020
Separate Accounts Narrative [Abstract]
Separate accounts contract's minimum guaranteed payments, percentage of policyholder's contribution	75.00%
Separate accounts contract minimum maturity, years	10 years
Separate accounts contract maximum maturity, date	Dec. 31, 2070
Separate accounts contract maturity, years	20 years
Separate accounts contracts minimum guaranteed payments, decline in percentage of policyholder's contribution	25.00%

Separate Accounts - Schedule of

Separate Accounts - Schedule of Fair Value of Separate Accounts by Major Category of Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Fair Value Of Separate Accounts By Major Category Of Investment [Line Items]
Separate accounts assets	$ 2,659,520	$ 2,485,745
Fixed Income Securities [Member]
Schedule Of Fair Value Of Separate Accounts By Major Category Of Investment [Line Items]
Separate accounts assets	1,212,275	970,098
Equity Securities [Member]
Schedule Of Fair Value Of Separate Accounts By Major Category Of Investment [Line Items]
Separate accounts assets	1,362,399	1,318,351
Cash and Cash Equivalents [Member]
Schedule Of Fair Value Of Separate Accounts By Major Category Of Investment [Line Items]
Separate accounts assets	87,046	199,723
Due To/From Funds [Member]
Schedule Of Fair Value Of Separate Accounts By Major Category Of Investment [Line Items]
Separate accounts assets	(2,251)	(2,489)
Other [Member]
Schedule Of Fair Value Of Separate Accounts By Major Category Of Investment [Line Items]
Separate accounts assets	$ 51	$ 62

Policy Claims and Other Benef_3

Policy Claims and Other Benefits Payable - Schedule of Liability For Policy Claims and Other Benefits Payable (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Roll Forward In Liability For Unpaid Claims And Claims Adjustment Expense [Abstract]
Policy claims and other benefits payable, beginning of period		$ 339,954	$ 313,862	$ 307,401
Reinsured policy claims and other benefits payable, beginning of period		388,797	318,653	322,137
Net balance, beginning of period		(48,843)	(4,791)	(14,736)
Incurred related to current year		236,157	186,857	176,854
Incurred related to prior years	[1]	(4,033)	(869)	(1,355)
Total incurred		232,124	185,988	175,499
Claims paid related to current year, net of reinsured policy claims received		(268,914)	(244,997)	(187,453)
Reinsured policy claims received related to prior years, net of claims paid		60,144	14,614	22,426
Total paid		(208,770)	(230,383)	(165,027)
Foreign currency translation		170	343	(527)
Net balance, end of period		(25,319)	(48,843)	(4,791)
Reinsured policy claims and other benefits payable, end of period		545,030	388,797	318,653
Policy claims and other benefits payable, end of period		$ 519,711	$ 339,954	$ 313,862
[1]	Includes the difference between our estimate of claims incurred but not yet reported at year end and the actual incurred claims reported after year end.

Debt - Schedule of Notes Payabl

Debt - Schedule of Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
4.75% Senior Notes, due July 15, 2022	$ 375,000	$ 375,000
Unamortized issuance discount on notes payable	(107)	(174)
Total notes payable	$ 374,893	$ 374,826

Debt - Schedule of Notes Paya_2

Debt - Schedule of Notes Payable (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt instrument, interest rate, stated percentage	4.75%
Debt instrument maturity date	Jul. 15, 2022

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instrument, face amount	$ 375,000,000	$ 375,000,000
Debt instrument, interest rate, stated percentage	4.75%
Debt instrument maturity date	Jul. 15, 2022
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 200,000,000
Debt instrument maturity date	Dec. 19, 2022
Debt instrument, frequency of commitment fee payable	quarterly
Debt instrument, current borrowing capacity	$ 0
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,500,000,000
Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage	0.225%
Maximum [Member] | LIBOR Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin	1.625%
Maximum [Member] | Base Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin	0.625%
Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage	0.125%
Minimum [Member] | LIBOR Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin	1.125%
Minimum [Member] | Base Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate margin	0.125%
Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 375,000,000
Issue price of senior notes	99.843%
Debt instrument, interest rate, stated percentage	4.75%
Debt instrument maturity date	Jul. 15, 2022
Surplus Note [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,300,000,000
Debt instrument, interest rate, stated percentage	4.50%
Debt instrument maturity date	Dec. 31, 2030

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current federal tax expense (benefit)	$ 88,837	$ 76,289	$ 50,691
Current foreign tax expense (benefit)	26,749	32,239	36,028
Current state and local tax expense (benefit)	4,714	3,033	2,681
Current income tax expense (benefit)	120,300	111,561	89,400
Deferred federal income tax expense (benefit)	853	6,628	17,399
Deferred foreign income tax expense (benefit)	(547)	(7,469)	(14,809)
Deferred state and local income tax expense (benefit)	(40)
Deferred income tax expense (benefit)	266	(841)	2,590
Federal income tax expense (benefit)	89,690	82,917	68,090
Foreign income tax expense (benefit)	26,202	24,770	21,219
State and local income tax expense (benefit)	4,674	3,033	2,681
Income tax expense (benefit)	$ 120,566	$ 110,720	$ 91,990

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax [Line Items]
Federal Statutory Tax Rate	21.00%	21.00%	21.00%
Deferred tax assets, operating loss carryforwards, state and local	$ 10,300
Deferred tax assets valuation allowance	46,455	$ 46,455
Unrecognized tax benefits that would impact effective tax rate	16,000	14,700
Unrecognized tax benefits, income tax penalties and interest accrued	2,800	2,300
Unrecognized tax benefits, interest benefit	300	300	$ 300
Foreign [Member]
Income Tax [Line Items]
Tax credits	46,500
Deferred tax assets valuation allowance	$ 0	$ 0

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax reconciliation, income tax expense (benefit), at federal statutory income tax rate	$ 106,413	$ 100,193	$ 87,378
Income tax rate reconciliation, foreign income tax rate differential amount	5,075	4,898	4,474
Income tax rate reconciliation, recognition of foreign tax credits			(6,069)
Income tax rate reconciliation, change in valuation allowance on foreign tax credits			6,069
Income tax reconciliation, other reconciling items	9,078	5,629	138
Income tax expense (benefit)	$ 120,566	$ 110,720	$ 91,990
Effective income tax rate reconciliation, at federal statutory income tax rate	21.00%	21.00%	21.00%
Effective income tax rate reconciliation, foreign income tax rate differential	1.00%	1.00%	1.10%
Effective income tax rate reconciliation, recognition of foreign tax credits			(1.50%)
Effective income tax rate reconciliation, change in valuation allowance on foreign tax credits			1.50%
Effective income tax rate reconciliation, other adjustments	1.80%	1.20%
Effective income tax rate	23.80%	23.20%	22.10%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Deferred tax assets, future policy benefit reserves and unpaid policy claims	$ 285,926	$ 245,247
Deferred tax assets, future deductible liabilities	18,933	17,920
Deferred tax assets, foreign tax credits	46,455	46,455
Deferred tax assets, other	35,320	41,615
Total deferred tax assets before valuation allowance	386,634	351,237
Valuation allowance on foreign tax credits	(46,455)	(46,455)
Total deferred tax assets after valuation allowance	340,179	304,782
Deferred tax liabilities:
Deferred tax liabilities, deferred policy acquisition costs	(352,312)	(314,969)
Investments	(32,316)	(17,630)
Deferred tax liabilities, reinsurance deposit asset	(49,742)	(49,035)
Deferred tax liabilities, other	(39,002)	(42,675)
Total deferred tax liabilities	(473,372)	(424,309)
Net deferred tax liabilities	$ (133,193)	$ (119,527)

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning of period	$ 15,805	$ 15,173
Unrecognized tax benefits, resulting from prior period tax positions	40	(583)
Unrecognized tax benefits, increases resulting from current period tax positions	3,296	3,036
Unrecognized tax benefits, reductions resulting from lapse of applicable statute of limitations	(2,037)	(1,821)
Unrecognized tax benefits, end of period	$ 17,104	$ 15,805

Stockholders' Equity - Reconcil

Stockholders' Equity - Reconciliation of Number of Shares of Common Stock (Details) - shares	12 Months Ended			23 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Stockholders Equity Note [Abstract]
Common stock, beginning of period	41,207,000	42,694,000	44,251,000
Shares issued for stock options exercised		4,000	33,000
Shares of common stock issued upon lapse of RSUs	335,000	438,000	528,000
Common stock retired	(2,236,000)	(1,929,000)	(2,118,000)	(2,184,259)
Common stock, end of period	39,306,000	41,207,000	42,694,000	39,306,000

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Millions	12 Months Ended			23 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Feb. 09, 2021	Feb. 10, 2020
Class Of Stock [Line Items]
Stock repurchased program, authorized amount						$ 300
Stock repurchased and retired during period, shares	2,236,000	1,929,000	2,118,000	2,184,259
Stock repurchased and retired during period, value	$ 231.4
Stock repurchase program, remaining authorized repurchase amount	$ 68.6			$ 68.6
Subsequent Event [Member] | New Repurchase [Member]
Class Of Stock [Line Items]
Stock repurchased program, authorized amount					$ 300
Restricted stock units (RSUs) [Member]
Class Of Stock [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, outstanding, number	289,371			289,371
Performance share units (PSUs) [Member]
Class Of Stock [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, outstanding, number	81,796			81,796

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net income	$ 386,164	$ 366,391	$ 324,094
Income attributable to unvested participating securities, basic EPS	(1,671)	(1,654)	(1,893)
Net income used in calculating basic EPS	$ 384,493	$ 364,737	$ 322,201
Weighted-average vested shares	40,065	42,181	43,854
Basic EPS	$ 9.60	$ 8.65	$ 7.35
Income attributable to unvested participating securities, diluted EPS	$ (1,667)	$ (1,650)	$ (1,888)
Net income used in calculating diluted EPS	$ 384,497	$ 364,741	$ 322,206
Dilutive effect of incremental shares to be issued for contingently-issuable shares	120	133	131
Weighted-average shares used in calculating diluted EPS	40,185	42,314	43,985
Diluted EPS	$ 9.57	$ 8.62	$ 7.33

Share-Based Transactions - Narr

Share-Based Transactions - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2013	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant	1,900,000
Share-based compensation arrangement by share-based payment award, options, outstanding, weighted average remaining contractual term				10 years
Stock options exercise term, description	Upon retirement, employees have the lesser of three years or the remaining option term to exercise any vested options.
Aggregate intrinsic value of exercisable stock options	$ 6,300,000
Restricted stock units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized	$ 4,300,000
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, period for recognition	9 months 18 days
Performance share units (PSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized	$ 700,000
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, period for recognition	9 months 18 days
Agent equity awards unvested	82,000	92,000	85,000		54,000
Performance share units (PSUs) [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of granted PSUs to be issued based on performance	0.00%
Performance share units (PSUs) [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of granted PSUs to be issued based on performance	150.00%
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period				3 years
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized	$ 0
Number of stock options issued	$ 0	$ 0	$ 0
Nonemployee Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Agent equity awards unvested	26,000	24,000	34,000		32,000
Management [Member] | Restricted stock units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Director | Restricted stock units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	12 months

Share-Based Transactions - Empl

Share-Based Transactions - Employee and Director Share-Based Transactions, Cost and Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted stock units (RSUs) [Member] | Employee and Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity awards expense recognized	$ 11,218	$ 10,557	$ 10,684
Tax benefit associated with total employee and director share-based compensation share-based compensation	1,455	1,434	1,495
Performance share units (PSUs) [Member] | Employee [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity awards expense recognized	$ 4,179	$ 3,516	3,240
Tax benefit associated with total employee and director share-based compensation share-based compensation			$ 191

Share-Based Transactions - Em_2

Share-Based Transactions - Employee and Director Share-Based Transactions, Restricted Stock and RSU Activity (Details) - Employee and Director [Member] - Restricted Stock and Restricted Stock Units RSU [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement [Abstract]
Shares, beginning balance	180	232	312
Shares, granted	94	93	106
Shares, vested	(108)	(145)	(186)
Shares, ending balance	166	180	232
Weighted-Average Exercise Price Per Share [Abstract]
Weighted-average measurement-date fair value per share, beginning balance	$ 107.59	$ 78.22	$ 59.10
Weighted-average measurement-date fair value per share, granted	119.03	123.04	100
Weighted-average measurement-date fair value per share, forfeited	121.42	104.38	82.20
Weighted-average measurement-date fair value per share, vested	101.75	70.53	58.51
Weighted-average measurement-date fair value per share, ending balance	$ 117.87	$ 107.59	$ 78.22

Share-Based Transactions - Em_3

Share-Based Transactions - Employee and Director Share-Based Transactions, Restricted Stock and RSU Activity (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2020shares
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, forfeited	1,000,000

Share-Based Transactions - Em_4

Share-Based Transactions - Employee Share-Based Transactions, PSU Activity (Details) - Performance share units (PSUs) [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement [Abstract]
Shares, beginning balance	92	85	54
Shares, granted	26	25	31
Shares, performance adjustment	5	4
Shares, vested	(41)	(23)
Shares, ending balance	82	92	85
Shares, performance adjustment	5	4
Weighted-Average Exercise Price Per Share [Abstract]
Weighted-average measurement-date fair value per share, beginning balance	$ 98.79	$ 79.34	$ 67.42
Weighted-average measurement-date fair value per share, granted	121.42	122.62	100.55
Weighted-average measurement-date fair value per share, performance adjustment	80.45	41.88
Weighted-average measurement-date fair value per share, vested	80.45	41.88
Weighted-average measurement-date fair value per share, ending balance	113.99	98.79	$ 79.34
Weighted-average measurement-date fair value per share, performance adjustment	$ 80.45	$ 41.88

Share-Based Transactions - Em_5

Share-Based Transactions - Employee Share-Based Transactions, PSU Activity (Parenthetical) (Details) - Performance share units (PSUs) [Member] - ROAE Achieved Within Vesting Period [Member] - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Minimum number of shares of common stock may be received by recipients	0	0
Maximum number of shares of common stock may be received by recipients	38,601,000	38,225,000	33,605,000

Share-Based Transactions - Em_6

Share-Based Transactions - Employee Share-based Transactions, Stock Option Cost and Tax Benefit (Details) - Employee Stock Option [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expense recognized for stock option awards	$ 6	$ 39
Tax benefit recognized for stock option awards		$ 8

Share-Based Transactions - Summ

Share-Based Transactions - Summary of Activity Related to Stock Options Outstanding and Exercisable (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, outstanding beginning balance	70	74	107
Number of shares, granted	0
Number of shares, exercised		(4)	(33)
Number of shares, outstanding ending balance	70	70	74
Weighted average exercise price, outstanding beginning balance	$ 44.23	$ 44.07	$ 45.15
Weighted average exercise price, granted	0
Weighted average exercise price, exercised		41.20	47.59
Weighted average exercise price, outstanding ending balance	$ 44.23	$ 44.23	$ 44.07
Number of shares, exercisable	70	70	44	32
Weighted average exercise price, exercisable	$ 44.23	$ 44.23	$ 45.55	$ 47.26
$41.20 (average term remaining - 3.1 years) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, vested option exercise prices outstanding	3
Weighted average exercise price, vested option exercise prices outstanding	$ 41.20
Number of shares, vested option exercise prices exercisable	3
Weighted average exercise price, vested option exercise prices exercisable	$ 41.20
$53.50 (average term remaining - 4.2 years) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, vested option exercise prices outstanding	14
Weighted average exercise price, vested option exercise prices outstanding	$ 53.50
Number of shares, vested option exercise prices exercisable	14
Weighted average exercise price, vested option exercise prices exercisable	$ 53.50
$41.88 (average term remaining - 5.2 years) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, vested option exercise prices outstanding	52
Weighted average exercise price, vested option exercise prices outstanding	$ 41.88
Number of shares, vested option exercise prices exercisable	52
Weighted average exercise price, vested option exercise prices exercisable	$ 41.88

Share-Based Transactions - Su_2

Share-Based Transactions - Summary of Activity Related to Stock Options Outstanding and Exercisable (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2020$ / shares
$41.20 (average term remaining - 3.1 years) Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested option exercise price	$ 41.20
Vested option exercise, average life	3 years 1 month 6 days
$53.50 (average term remaining - 4.2 years) Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested option exercise price	$ 53.50
Vested option exercise, average life	4 years 2 months 12 days
$41.88 (average term remaining - 5.2 years) Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested option exercise price	$ 41.88
Vested option exercise, average life	5 years 2 months 12 days

Share-Based Transactions - Su_3

Share-Based Transactions - Summary of Intrinsic Value, Tax Benefit Realized and Value of Shares Withheld Related to Option Exercise Activity (Details) - Employee Stock Option [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic value of options exercised	$ 369	$ 1,953
Value of issued shares withheld to satisfy option exercise price	$ 161	$ 1,562

Share-Based Transactions - None

Share-Based Transactions - Nonemployee Share-Based Transactions, RSU Activity (Details) - Nonemployee Shares [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement [Abstract]
Shares, beginning balance	24,000	34,000	32,000
Shares, granted	128,000	105,000	124,000
Shares, vested	(126,000)	(115,000)	(122,000)
Shares, ending balance	26,000	24,000	34,000
Weighted-Average Exercise Price Per Share [Abstract]
Weighted-average measurement-date fair value per share, beginning balance	$ 132.68	$ 97.71	$ 91.88
Weighted-average measurement-date fair value per share, granted	106.65	124.51	102.43
Weighted-average measurement-date fair value per share, vested	105.71	115.01	101.01
Weighted-average measurement-date fair value per share, ending balance	$ 134.75	$ 132.68	$ 97.71

Share-Based Transactions - No_2

Share-Based Transactions - Nonemployee Share-Based Transactions, Cost and Tax Benefit (Details) - Nonemployee Shares [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Goods And Nonemployee Services Transaction [Line Items]
Weighted-average measurement-date fair value per share, granted	$ 106.65	$ 124.51	$ 102.43
Total equity awards expense recognized	$ 3,630	$ 3,441	$ 3,288
Quarterly incentive awards expense	10,071	9,663	9,484
Tax benefit associated with incentive awards	$ 2,692	$ 2,465	$ 2,437

Statutory Accounting and Divi_3

Statutory Accounting and Dividend Restrictions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2021
Primerica Life [Member] | TENNESSEE
Statutory Accounting Practices [Line Items]
Statutory accounting practices, statutory net income amount	$ 395,400	$ 508,600	$ 547,900
Payments of dividends	170,000
Payments of ordinary dividends	0
Statutory accounting practices, statutory amount available for dividend payments without regulatory approval				$ 152,400
Statutory capital and surplus	650,114	666,055
Peach Re [Member] | VERMONT
Statutory Accounting Practices [Line Items]
State insurance department, statutory to NAIC, amount of reconciling item	206,100
Primerica Life Canada [Member] | CANADA
Statutory Accounting Practices [Line Items]
Statutory accounting practices, statutory amount available for dividend payments without regulatory approval	23,600			$ 113,600
Statutory capital and surplus	$ 506,100	$ 454,600

Statutory Accounting and Divi_4

Statutory Accounting and Dividend Restrictions - Statutory Accounting Practices Disclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Primerica Life [Member] | TENNESSEE
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 650,114	$ 666,055

Commitments and Contingent Li_2

Commitments and Contingent Liabilities - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2014
Commitments And Contingent Liabilities [Line Items]
Letter of credit, outstanding	$ 206.1
Letter of Credit [Member]
Commitments And Contingent Liabilities [Line Items]
Letter of credit, outstanding	$ 450	$ 507

Benefit Plans - Narrative (Deta

Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Defined Contribution Plan, expenses	$ 10	$ 8.9	$ 8.4

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Disaggregation of Revenues from Contracts (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		$ 2,217,541	$ 2,052,504	$ 1,899,843
Term Life Insurance Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		1,382,770	1,227,231	1,123,200
Term Life Insurance Segment [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		46,079	40,848	42,374
Term Life Insurance Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Other, Net [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		46,079	40,848	42,374
Term Life Insurance Segment [Member] | Revenues from Sources Other Than Contracts with Customers (Segregated Funds) [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		1,336,691	1,186,383	1,080,826
Investment and Savings Products Segment [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		718,867	691,608	655,076
Investment and Savings Products Segment [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		661,043	633,910	596,719
Investment and Savings Products Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Other, Net [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		11,271	10,017	9,631
Investment and Savings Products Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member] | Sales-based Revenues [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		284,651	282,887	259,991
Investment and Savings Products Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member] | Asset-based Revenues [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		282,080	260,451	245,295
Investment and Savings Products Segment [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member] | Account-based Revenues [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		83,041	80,555	81,802
Investment and Savings Products Segment [Member] | Revenues from Sources Other Than Contracts with Customers (Segregated Funds) [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		57,824	57,698	58,357
Corporate and Other Distributed Products Segment Revenues [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		115,904	133,665	121,567
Corporate and Other Distributed Products Segment Revenues [Member] | Total Segment Revenues from Contracts with Customers [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		47,394	36,873	37,144
Corporate and Other Distributed Products Segment Revenues [Member] | Total Segment Revenues from Contracts with Customers [Member] | Other, Net [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		3,719	4,660	4,982
Corporate and Other Distributed Products Segment Revenues [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers	[1]	43,675	32,213	32,162
Corporate and Other Distributed Products Segment Revenues [Member] | Revenues from Sources Other Than Contracts with Customers (Segregated Funds) [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenues from contracts with customers		$ 68,510	$ 96,792	$ 84,423
[1]	Commissions and fees for the year ended December 31, 2020 and 2019 include $5.5 million and $5.5 million, respectively, attributable to performance obligations satisfied in a previous reporting period and represent the collection of variable consideration in the transaction price that had been previously constrained.

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Disaggregation of Revenues from Contracts (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Corporate and Other Distributed Products Segment Revenues [Member] | Total Segment Revenues from Contracts with Customers [Member] | Commissions and Fees [Member]
Disaggregation Of Revenue [Line Items]
Performance obligation satisfied and collection of variable consideration in transaction price	$ 5.5	$ 5.5

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Summary of Contract Asset Account (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Contract With Customer Asset And Liability [Abstract]
Balance, beginning of period	$ 51,701	$ 50,119
Current period sales, net of collection of renewal commissions	3,144	1,582
Balance, at the end of period	$ 54,845	$ 51,701

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Estimate adjustments to contract asset	$ 0	$ 0
Impairment losses recognized on contract asset	0	0
Assets recognized for incremental costs	$ 0	$ 0

Leases - Narratives (Details)

Leases - Narratives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee Lease Description [Line Items]
Lease renewal term	10 years
Lease termination period	3 years
Finance lease liabilities	$ 902
Minimum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	10 years
Other Assets
Lessee Lease Description [Line Items]
Finance lease right-of-use assets	$ 900	$ 700
Other Liabilities
Lessee Lease Description [Line Items]
Finance lease liabilities	$ 900	$ 700

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating lease cost
Operating lease cost	$ 7,638	$ 7,650
Variable lease cost (includes taxes, common area maintenance and insurance)	725	675
Finance lease cost
Depreciation of finance lease assets	280	277
Interest on lease liabilities	56	46
Total lease cost	$ 8,699	$ 8,648

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases	[1]	$ 7,737	$ 7,656
Operating cash flows used in finance leases	[1]	56	46
Financing cash flows used in finance leases		$ 274	$ 281
Operating leases weighted average remaining lease term		8 years	9 years
Finance leases weighted average remaining lease term		4 years	3 years
Operating leases weighted average discount rate		4.50%	4.60%
Finance leases weighted average discount rate		7.10%	6.80%
[1]	Included in change in other operating assets and liabilities, net in the accompanying consolidated statements of cash flows.

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Under Non-Cancellable Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 7,937
2022	7,938
2023	7,916
2024	7,905
2025	7,839
Thereafter	23,167
Total minimum rental commitments for operating leases	62,702
Less imputed interest	9,896
Operating lease liabilities	52,806	$ 53,487
Finance Leases
2021	320
2022	267
2023	194
2024	161
2025	83
Total minimum rental commitments for operating leases	1,025
Less imputed interest	123
Finance lease liabilities	$ 902

Schedule I Summary of Investm_2

Schedule I Summary of Investments - Other Than Investments in Related Parties (Details) $ in Thousands	Dec. 31, 2020USD ($)
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	$ 3,726,118
Summary of investments, other than investments in related parties, fair value	4,155,341
Summary of investments, other than investments in related parties, carrying amount	3,895,483
US Government and Government Agencies and Authorities [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	195,732
Summary of investments, other than investments in related parties, fair value	206,208
Summary of investments, other than investments in related parties, carrying amount	206,208
US States and Political Subdivisions Debt Securities [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	161,058
Summary of investments, other than investments in related parties, fair value	170,689
Summary of investments, other than investments in related parties, carrying amount	170,689
Foreign Government Debt [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	169,967
Summary of investments, other than investments in related parties, fair value	183,252
Summary of investments, other than investments in related parties, carrying amount	183,252
All Other Corporate Bonds [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	3,131,508
Summary of investments, other than investments in related parties, fair value	3,520,720
Summary of investments, other than investments in related parties, carrying amount	3,260,862
Certificates of Deposit [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	176
Summary of investments, other than investments in related parties, fair value	176
Summary of investments, other than investments in related parties, carrying amount	176
Mandatorily Redeemable Preferred Stock [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	5,447
Summary of investments, other than investments in related parties, fair value	6,074
Summary of investments, other than investments in related parties, carrying amount	6,074
Fixed Maturities
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	3,663,888
Summary of investments, other than investments in related parties, fair value	4,087,119
Summary of investments, other than investments in related parties, carrying amount	3,827,261
States, Municipalities and Political Subdivision [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	1,974
Summary of investments, other than investments in related parties, fair value	1,974
Summary of investments, other than investments in related parties, carrying amount	1,974
Public Utility, Equities [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	6,469
Summary of investments, other than investments in related parties, fair value	9,769
Summary of investments, other than investments in related parties, carrying amount	9,769
Banks, Trust and Insurance, Equities [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	16,686
Summary of investments, other than investments in related parties, fair value	17,699
Summary of investments, other than investments in related parties, carrying amount	17,699
Industrial, Miscellaneous, and All Others [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	5,063
Summary of investments, other than investments in related parties, fair value	7,489
Summary of investments, other than investments in related parties, carrying amount	7,489
Nonredeemable Preferred Stock [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	1,839
Summary of investments, other than investments in related parties, fair value	1,092
Summary of investments, other than investments in related parties, carrying amount	1,092
Equity Securities, Investment Summary [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	32,031
Summary of investments, other than investments in related parties, fair value	38,023
Summary of investments, other than investments in related parties, carrying amount	38,023
Policy Loans [Member]
Summary of Investments Other Than Investments In Related Parties
Summary of investments, other than investments in related parties, cost	30,199
Summary of investments, other than investments in related parties, fair value	30,199
Summary of investments, other than investments in related parties, carrying amount	$ 30,199

Schedule II - Primerica, Inc. (

Schedule II - Primerica, Inc. (Parent Only) - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments:
Fixed-maturity securities available-for-sale, at fair value	$ 2,464,611	$ 2,356,996
Equity securities, at fair value (historical cost: $1,980 in 2020 and $2,090 in 2019)	38,023	40,684
Total investments	3,895,483	3,658,210
Cash and cash equivalents	547,569	256,876
Other receivables	259,448	227,100
Income tax receivable	4,035	1,020
Deferred income taxes	69,255	69,472
Other assets	456,967	384,634
Total assets	14,905,285	13,688,531	$ 12,595,048
Liabilities:
Notes payable	374,415	374,037
Current income tax payable	21,048	20,224
Deferred income taxes	202,448	188,997
Other liabilities	566,068	510,443
Commitments and contingent liabilities (see Note F)
Total liabilities	13,069,400	12,036,040
Stockholders’ equity:
Common stock ($0.01 par value; authorized 500,000 in 2020 and 2019; issued and outstanding 39,306 shares in 2020 and 41,207 shares in 2019)	393	412
Retained earnings	1,705,786	1,593,281
Total liabilities and stockholders’ equity	14,905,285	13,688,531
Parent Company [Member]
Investments:
Fixed-maturity securities available-for-sale, at fair value	119,614	208,526
Equity securities, at fair value (historical cost: $1,980 in 2020 and $2,090 in 2019)	2,294	2,250
Total investments	121,908	210,776
Cash and cash equivalents	228,303	59,150	$ 32,745	$ 66,226
Due from affiliates	3,847	1,267
Other receivables	693	1,383
Income tax receivable	2,633	1,026
Deferred income taxes	10,251	12,151
Investment in subsidiaries	1,861,411	1,756,845
Other assets	440	608
Total assets	2,229,486	2,043,206
Liabilities:
Notes payable	374,415	374,037
Deferred income taxes	8,345	7,441
Interest payable	8,214	8,214
Other liabilities	2,627	1,023
Commitments and contingent liabilities (see Note F)
Total liabilities	393,601	390,715
Stockholders’ equity:
Common stock ($0.01 par value; authorized 500,000 in 2020 and 2019; issued and outstanding 39,306 shares in 2020 and 41,207 shares in 2019)	393	412
Retained earnings	1,705,786	1,593,281
Accumulated other comprehensive income, net of income tax	129,706	58,798
Total stockholders’ equity	1,835,885	1,652,491
Total liabilities and stockholders’ equity	$ 2,229,486	$ 2,043,206

Schedule II - Primerica, Inc._2

Schedule II - Primerica, Inc. (Parent Only) - Condensed Financial Information Parentheticals (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Available-for-sale securities, debt maturities, amortized cost Basis	$ 2,301,238	$ 2,274,770
Equity securities, historical Cost basis	$ 32,031	$ 32,671
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	39,306,000	41,207,000
Common stock, shares outstanding	39,306,000	41,207,000	42,694,000	44,251,000
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Available-for-sale securities, debt maturities, amortized cost Basis	$ 116,441	$ 206,550
Equity securities, historical Cost basis	$ 1,980	$ 2,090
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	39,306,000	41,207,000
Common stock, shares outstanding	39,306,000	41,207,000

Schedule II - Primerica, Inc._3

Schedule II - Primerica, Inc. (Parent Only) - Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Net investment income	$ 83,814	$ 94,073	$ 81,430
Realized investment gains (losses), including credit losses	(4,996)	4,965	(2,121)
Revenues	2,217,541	2,052,504	1,899,843
Expenses:
Interest expense	28,839	28,811	28,809
Other operating expenses	245,195	237,144	229,607
Income taxes	120,566	110,720	91,990
Net income	386,164	366,391	324,094
Parent Company [Member]
Revenues:
Dividends from subsidiaries	378,063	398,129	302,932
Net investment income	3,670	4,973	2,306
Realized investment gains (losses), including credit losses	175	256	(128)
Revenues	381,908	403,358	305,110
Expenses:
Interest expense	18,673	18,669	18,695
Other operating expenses	13,903	9,898	7,478
Total expenses	32,576	28,567	26,173
Income before income taxes	349,332	374,791	278,937
Income taxes	(3,540)	(2,940)	(5,578)
Income before equity in undistributed earnings of subsidiaries	352,872	377,731	284,515
Equity in undistributed earnings of subsidiaries	33,292	(11,340)	39,579
Net income	$ 386,164	$ 366,391	$ 324,094

Schedule II - Primerica, Inc._4

Schedule II - Primerica, Inc. (Parent Only) - Condensed Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net income	$ 386,164	$ 366,391	$ 324,094
Unrealized investment gains (losses):
Change in unrealized holding gains (losses) on investment securities	78,533	91,160	(59,661)
Reclassification adjustment for realized investment (gains) losses included in net income	2,614	253	(45)
Foreign currency translation adjustments:
Equity in unrealized foreign currency translation gains (losses) of subsidiaries	7,343	15,299	(25,059)
Total other comprehensive income (loss) before income taxes	88,490	106,712	(84,765)
Income tax expense (benefit) related to items of other comprehensive income (loss)	17,582	19,480	(12,690)
Other comprehensive income (loss), net of income taxes	70,908	87,232	(72,075)
Total comprehensive income	457,072	453,623	252,019
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	386,164	366,391	324,094
Unrealized investment gains (losses):
Equity in unrealized holding gains (losses) on investment securities held by subsidiaries	62,618	70,998	(46,382)
Change in unrealized holding gains (losses) on investment securities	1,372	1,440	(931)
Reclassification adjustment for realized investment (gains) losses included in net income	(175)	(256)	128
Foreign currency translation adjustments:
Equity in unrealized foreign currency translation gains (losses) of subsidiaries	7,343	15,299	(25,059)
Total other comprehensive income (loss) before income taxes	71,158	87,481	(72,244)
Income tax expense (benefit) related to items of other comprehensive income (loss)	250	249	(169)
Other comprehensive income (loss), net of income taxes	70,908	87,232	(72,075)
Total comprehensive income	$ 457,072	$ 453,623	$ 252,019

Schedule II - Primerica, Inc._5

Schedule II - Primerica, Inc. (Parent Only) - Condensed Statements of Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 386,164	$ 366,391	$ 324,094
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Deferred tax provision	266	(841)	2,590
Change in income taxes	(5,008)	(5,187)	2,365
Realized investment (gains) losses	4,996	(4,965)	2,121
Accretion and amortization of investments	751	(720)	(1,894)
Share-based compensation	19,027	17,533	17,251
Trading securities sold, matured, or called (acquired), net	26,694	(29,601)	(8,808)
Available-for-sale investments sold, matured or called:
Fixed maturity securities — sold	67,760	42,202	51,726
Fixed-maturity securities — matured or called	429,147	403,969	362,413
Short-term investments — matured or called		8,250
Equity securities — sold	2,581	3,136	2,093
Available-for-sale investments acquired:
Fixed-maturity securities	(522,123)	(633,106)	(626,826)
Short-term investments			(8,169)
Equity securities — acquired	(3,272)	(898)	(521)
Cash flows from financing activities:
Dividends paid	(64,346)	(57,630)	(44,140)
Common stock repurchased	(231,431)	(225,037)	(210,146)
Tax withholdings on share-based compensation	(5,739)	(7,186)	(6,711)
Cash and cash equivalents, beginning of period	256,876
Cash and cash equivalents, end of period	547,569	256,876
Supplemental disclosures of cash flow information:
Interest paid	27,853	28,053	27,899
Parent Company [Member]
Cash flows from operating activities:
Net income	386,164	366,391	324,094
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Equity in undistributed earnings of subsidiaries	(42,030)	(95,014)	(44,095)
Deferred tax provision	2,553	1,067	(1,983)
Change in income taxes	(1,607)	2,464	(6,151)
Realized investment (gains) losses	(175)	(256)	128
Accretion and amortization of investments	1,777	257	103
Share-based compensation	1,447	1,487	1,365
Change in due to/from affiliates	(2,580)	1,225	780
Trading securities sold, matured, or called (acquired), net	(6)
Change in other operating assets and liabilities, net	3,030	2,001	(120)
Net cash provided by (used in) operating activities	348,573	279,622	274,121
Available-for-sale investments sold, matured or called:
Fixed maturity securities — sold	26,256	6,481	1,603
Fixed-maturity securities — matured or called	131,894	179,950	104,836
Short-term investments — matured or called		8,250
Equity securities — sold	212	76	150
Available-for-sale investments acquired:
Fixed-maturity securities	(36,190)	(157,510)	(144,760)
Short-term investments			(8,169)
Equity securities — acquired	(76)	(611)	(265)
Net cash provided by (used in) investing activities	122,096	36,636	(46,605)
Cash flows from financing activities:
Dividends paid	(64,346)	(57,630)	(44,140)
Common stock repurchased	(231,431)	(225,037)	(210,146)
Tax withholdings on share-based compensation	(5,739)	(7,186)	(6,711)
Net cash provided by (used) in financing activities	(301,516)	(289,853)	(260,997)
Change in cash and cash equivalents	169,153	26,405	(33,481)
Cash and cash equivalents, beginning of period	59,150	32,745	66,226
Cash and cash equivalents, end of period	228,303	59,150	32,745
Supplemental disclosures of cash flow information:
Interest paid	$ 18,118	$ 18,117	$ 18,146

Schedule II - Primerica, Inc._6

Schedule II - Primerica, Inc. (Parent Only) - Condensed Statements of Cash Flow Parenthetical (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Fixed-maturity securities transferred	$ 33.6	$ 127.2	$ 27.6

Schedule II - Primerica, Inc._7

Schedule II - Primerica, Inc. (Parent Only) - Notes to Condensed Financial Statements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Debt instrument, face amount	$ 375,000,000	$ 375,000,000
Debt instrument, interest rate, stated percentage	4.75%
Debt instrument maturity date	Jul. 15, 2022
Non-life Insurance Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Cash dividends paid to parent company	$ 185,500,000	105,600,000	$ 80,100,000
Life Insurance Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Cash dividends paid to parent company	192,500,000	$ 292,500,000	$ 222,800,000
Maximum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, face amount	1,500,000,000
Revolving Credit Facility [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, face amount	$ 200,000,000
Debt instrument maturity date	Dec. 19, 2022
New unsecured revolving credit facility	$ 200,000,000
Debt instrument, frequency of commitment fee payable	quarterly
Debt instrument, outstanding amount	$ 0
Line of credit facility, Termination date	Dec. 19, 2022
Revolving Credit Facility [Member] | Minimum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, commitment fee percentage	0.125%
Revolving Credit Facility [Member] | Maximum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, commitment fee percentage	0.225%
Revolving Credit Facility [Member] | LIBOR Rate [Member] | Minimum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate margin	1.125%
Revolving Credit Facility [Member] | LIBOR Rate [Member] | Maximum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate margin	1.625%
Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate margin	0.125%
Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate margin	0.625%
Letter of Credit [Member] | LIBOR Rate [Member] | Minimum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate margin	0.125%
Letter of Credit [Member] | LIBOR Rate [Member] | Maximum [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate margin	0.625%
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Debt instrument, face amount	$ 375,000,000
Issue price of senior notes				99.843%
Debt instrument, interest rate, stated percentage				4.75%
Debt instrument maturity date		Jul. 15, 2022
Guarantor obligations, maximum exposure, undiscounted	$ 20,000,000

Schedule III - Supplementary _2

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplementary Insurance Information, by Segment [Line Items]
Deferred policy acquisition costs	$ 2,629,644	$ 2,325,750
Liability for future policy benefits, losses, claims and loss expense reserves	6,790,557	6,446,569
Unearned and advance premiums	17,136	15,470
Policy claims and other benefits payable	519,711	339,954
Separate account liabilities	2,659,520	2,485,745
Premium revenue	1,326,383	1,184,137	$ 1,085,940
Net investment income	83,814	94,073	81,430
Benefits, claims, losses and settlement expense	615,569	493,820	457,583
Amortization of deferred policy acquisition costs	224,321	254,552	239,730
Other operating expense	870,921	827,021	786,446
Premiums written	701	741	792
Term Life Insurance [Member]
Supplementary Insurance Information, by Segment [Line Items]
Deferred policy acquisition costs	2,543,795	2,239,515
Liability for future policy benefits, losses, claims and loss expense reserves	6,579,600	6,244,193
Unearned and advance premiums	16,633	14,933
Policy claims and other benefits payable	508,425	330,660
Premium revenue	1,309,661	1,166,461	1,067,079
Net investment income	27,030	19,922	13,747
Benefits, claims, losses and settlement expense	593,948	475,330	441,775
Amortization of deferred policy acquisition costs	216,208	248,710	228,613
Other operating expense	200,063	183,097	170,908
Investment and Savings Products [Member]
Supplementary Insurance Information, by Segment [Line Items]
Deferred policy acquisition costs	62,876	62,196
Separate account liabilities	2,659,469	2,485,683
Amortization of deferred policy acquisition costs	7,055	4,549	9,766
Other operating expense	509,167	495,248	471,398
Corporate and Other Distributed Products Segment [Member]
Supplementary Insurance Information, by Segment [Line Items]
Deferred policy acquisition costs	22,973	24,039
Liability for future policy benefits, losses, claims and loss expense reserves	210,957	202,376
Unearned and advance premiums	503	537
Policy claims and other benefits payable	11,286	9,294
Separate account liabilities	51	62
Premium revenue	16,722	17,676	18,861
Net investment income	56,784	74,151	67,683
Benefits, claims, losses and settlement expense	21,621	18,490	15,808
Amortization of deferred policy acquisition costs	1,058	1,293	1,351
Other operating expense	161,691	148,676	144,140
Premiums written	$ 701	$ 741	$ 792

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct premiums, life insurance in force	$ 861,392,223	$ 810,995,295	$ 783,979,673
Direct premiums	2,907,149	2,753,866	2,667,104
Ceded premiums, life insurance in force	742,356,917	702,727,956	682,708,797
Ceded premiums	1,580,766	1,569,729	1,581,164
Net life insurance in-force	119,035,306	108,267,339	101,270,876
Premiums earned, net	1,326,383	1,184,137	1,085,940
Life Insurance [Member]
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct premiums	2,906,083	2,752,774	2,665,947
Ceded premiums	1,580,427	1,569,403	1,580,815
Premiums earned, net	1,325,656	1,183,371	1,085,132
Accident and Health Insurance [Member]
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct premiums	1,066	1,092	1,157
Ceded premiums	339	326	349
Premiums earned, net	$ 727	$ 766	$ 808