National Western Life Group Inc - Ordinary Shares (NWLI) 10-K 16 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 15, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-55522
Entity Registrant Name	NATIONAL WESTERN LIFE GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3339380
Entity Address, Address Line One	10801 N. Mopac Expy Bldg 3
Entity Address, City or Town	Austin,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78759
City Area Code	(512)
Local Phone Number	836-1010
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	NWLI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 520,145,675
Documents Incorporated by Reference	Documents incorporated by reference:  Portions of the registrant’s definitive proxy statement for the annual meeting of shareholders to be held June 18, 2021, which will be filed within 120 days after December 31, 2020, are incorporated by reference into Part III of this report.
Entity Central Index Key	0001635984
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,436,020
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		200,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments:
Debt securities - held-to-maturity, at amortized cost (fair value: $0 and $7,407,703)	$ 0	$ 7,106,245
Debt securities - available-for-sale, at fair value (cost: $9,874,543 and $3,206,120)	10,770,923	3,356,945
Mortgage loans, net of allowance for credit losses ($2,486 and $675)	332,521	272,422
Policy loans	74,083	80,008
Derivatives, index options	132,821	157,588
Equity securities, at fair value (cost: $12,069 and $16,894)	17,744	23,594
Other long-term investments	104,113	62,090
Total investments	11,432,205	11,058,892
Cash and cash equivalents	581,059	253,525
Deferred policy acquisition costs	382,080	723,972
Deferred sales inducements	43,845	104,359
Value of business acquired	162,968	138,071
Cost of reinsurance	102,840	0
Accrued investment income	88,323	93,298
Federal income tax receivable	10,408	0
Amounts recoverable from reinsurers	1,709,232	42,428
Other assets	135,310	138,902
Total assets	14,648,270	12,553,447
Future policy benefits:
Universal life and annuity contracts (Note 1)	9,035,316	9,303,233
Traditional life reserves	898,103	838,738
Other policyholder liabilities	138,480	127,607
Funds withheld liability	1,697,591	0
Deferred Federal income tax liability (Note 1)	145,126	36,767
Federal income tax payable	0	3,748
Other liabilities	193,904	126,924
Total liabilities	12,108,520	10,437,017
Commitments and Contingencies
Common stock:
Additional paid-in capital	41,716	41,716
Accumulated other comprehensive income	395,421	60,108
Retained earnings (Note 1)	2,102,577	2,014,570
Total stockholders' equity	2,539,750	2,116,430
Total liabilities and stockholders' equity	14,648,270	12,553,447
Class A
Common stock:
Common stock, value outstanding	34	34
Class B
Common stock:
Common stock, value outstanding	$ 2	$ 2

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments:
Debt securities held to maturity, fair value	$ 0	$ 7,407,703
Debt securities available for sale, amortized cost	9,874,543	3,206,120
Mortgage loans-allowance for possible losses	2,486	675
Equity securities, cost	$ 12,069	$ 16,894
Class A
STOCKHOLDERS' EQUITY (Note 12):
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	7,500,000	7,500,000
Common stock, shares issued (in shares)	3,436,020	3,436,020
Common stock, shares outstanding (in shares)	3,436,020	3,436,020
Class B
STOCKHOLDERS' EQUITY (Note 12):
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000	200,000
Common stock, shares issued (in shares)	200,000	200,000
Common stock, shares outstanding (in shares)	200,000	200,000

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Premiums and other revenues:
Universal life and annuity contract charges	$ 145,405	$ 149,721	$ 155,205
Traditional life premiums	92,542	90,248	18,291
Net investment income	417,202	555,492	349,077
Other revenues	18,522	17,486	20,603
Net realized investment gains:
Total other-than-temporary impairment (“OTTI”) gains (losses)	5	(7,838)	12
Portion of OTTI (gains) losses recognized in other comprehensive income	(5)	(9)	(12)
Net OTTI losses recognized in earnings	0	(7,847)	0
Other net investment gains	21,071	14,088	8,423
Total net realized investment gains	21,071	6,241	8,423
Total revenues	694,742	819,188	551,599
Benefits and expenses:
Life and other policy benefits	131,337	137,342	65,297
Amortization of deferred policy acquisition costs and value of business acquired	140,503	116,802	114,771
Universal life and annuity contract interest	206,250	295,330	136,055
Other operating expenses	104,584	104,558	93,969
Total benefits and expenses	582,674	654,032	410,092
Earnings before Federal income taxes	112,068	165,156	141,507
Federal income taxes	19,756	33,540	24,749
Net earnings	92,312	131,616	116,758
Class A
Benefits and expenses:
Net earnings	$ 89,701	$ 127,894	$ 113,456
Basic Earnings Per Share:
Basic earnings per share (in dollars per share)	$ 26.11	$ 37.22	$ 33.02
Diluted Earnings Per Share:
Diluted earnings per share (in dollars per share)	$ 26.11	$ 37.22	$ 33.02
Class B
Benefits and expenses:
Net earnings	$ 2,611	$ 3,722	$ 3,302
Basic Earnings Per Share:
Basic earnings per share (in dollars per share)	$ 13.05	$ 18.61	$ 16.51
Diluted Earnings Per Share:
Diluted earnings per share (in dollars per share)	$ 13.05	$ 18.61	$ 16.51

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net earnings	$ 92,312	$ 131,616	$ 116,758
Unrealized gains (losses) on securities:
Net unrealized holding gains (losses) arising during period	352,561	96,954	(56,818)
Net unrealized liquidity gains (losses)	6	3	2
Reclassification adjustment for net amounts included in net earnings	(4,485)	3,997	(2,718)
Net unrealized gains (losses) on securities	348,082	100,954	(59,534)
Foreign currency translation adjustments	15	524	1,354
Benefit plans:
Amortization of net prior service cost and net gain (loss)	(12,784)	(4,355)	11,298
Other comprehensive income (loss)	335,313	97,123	(46,882)
Comprehensive income (loss)	$ 427,625	$ 228,739	$ 69,876

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock:	Additional paid-in capital:	Accumulated other comprehensive income (loss):	Unrealized gains (losses) on non-impaired securities:	Unrealized gains (losses) on non-impaired securities:Cumulative Effect, Period of Adoption, Adjustment	Unrealized losses on impaired held to maturity securities:	Unrealized losses on impaired available for sale securities:	Unrealized losses on impaired available for sale securities:Cumulative Effect, Period of Adoption, Adjustment	Foreign currency translation adjustments:	Benefit plan liability adjustment:	Retained earnings:	Retained earnings:Cumulative Effect, Period of Adoption, Adjusted Balance	Retained earnings:Cumulative Effect, Period of Adoption, Adjustment
Stockholders’ equity, beginning of period at Dec. 31, 2017		$ 36	$ 41,716		$ 33,664	$ (4,414)	$ (10)	$ (1)	$ 0	$ 3,223	$ (22,595)		$ 1,776,141	$ 4,414
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares exercised under stock option plan		0	0
Change in unrealized gains (losses) during period	$ (56,818)				(59,536)
Amortization							9
Other-than-temporary impairments, non-credit, net of tax								0
Change in shadow deferred policy acquisition costs							(6)	(1)
Disposals of previously impaired securities							0
Change in translation adjustments during period	1,354									1,354
Amortization of net prior service cost and net gain, net of tax	11,298										11,298
Net earnings	116,758											$ 116,758
Stockholder dividends												(1,273)
Stockholders’ equity, end of period at Dec. 31, 2018	1,900,777	36	41,716	$ (37,015)	(30,286)	0	(7)	(2)	0	4,577	(11,297)	1,896,040	1,884,227	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares exercised under stock option plan		0	0
Change in unrealized gains (losses) during period	96,954				100,951
Amortization							7
Other-than-temporary impairments, non-credit, net of tax								0
Change in shadow deferred policy acquisition costs							(4)	0
Disposals of previously impaired securities							0
Change in translation adjustments during period	524									524
Amortization of net prior service cost and net gain, net of tax	(4,355)										(4,355)
Net earnings	131,616											131,616
Stockholder dividends												(1,273)
Stockholders’ equity, end of period at Dec. 31, 2019	2,116,430	36	41,716	60,108	70,665	$ 0	(4)	(2)	$ 2	5,101	(15,652)	2,014,570	$ 2,014,570	$ (3,032)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares exercised under stock option plan		0	0
Change in unrealized gains (losses) during period	352,561				348,076
Amortization							4
Other-than-temporary impairments, non-credit, net of tax								0
Change in shadow deferred policy acquisition costs							(2)	0
Disposals of previously impaired securities							2
Change in translation adjustments during period	14									15
Amortization of net prior service cost and net gain, net of tax	(12,784)										(12,784)
Net earnings	92,312											92,312
Stockholder dividends												(1,273)
Stockholders’ equity, end of period at Dec. 31, 2020	$ 2,539,750	$ 36	$ 41,716	$ 395,421	$ 418,741		$ 0	$ 0		$ 5,116	$ (28,436)	$ 2,102,577

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revised beginning balance	$ (2,102,577)	$ (2,014,570)
Restatement Adjustment
Revised beginning balance		$ 11,800

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 earnings	$ 92,312	$ 131,616	$ 116,758
Adjustments to reconcile net earnings to cash provided by operating activities:
Universal life and annuity contract interest	206,250	295,330	136,055
Surrender charges and other policy revenues	(26,623)	(32,909)	(37,138)
Realized (gains) losses on investments	(21,071)	(6,241)	(8,423)
Accretion/amortization of discounts and premiums, investments	3,371	2,264	(424)
Depreciation and amortization	11,903	11,677	12,147
Increase (decrease) in estimated credit losses on investments	(2,027)	0	0
(Increase) decrease in value of equity securities	937	(4,051)	1,789
(Increase) decrease in value of derivatives	(14,754)	(123,207)	80,004
(Increase) decrease in deferred policy acquisition and sales inducement costs, and value of business acquired	82,897	69,176	43,479
(Increase) decrease in accrued investment income	4,975	9,157	480
(Increase) decrease in reinsurance recoverable	728	(7,512)	(5,851)
(Increase) decrease in other assets	(620)	(5,236)	(539)
Increase (decrease) in liabilities for future policy benefits	14,138	13,758	(12,474)
(Decrease) increase in other policyholder liabilities	10,873	(21,955)	7,685
(Decrease) increase in Federal income tax liability	(14,156)	21,580	(20,635)
Increase (decrease) in deferred Federal income tax	20,031	(25,294)	26,438
(Decrease) increase in other liabilities	3,907	876	(12,728)
Net cash provided by operating activities	373,071	329,029	326,623
Proceeds from sales of:
Debt securities held-to-maturity	0	0	0
Debt securities available-for-sale	0	87,298	28,098
Other investments	9,198	30,082	4,433
Proceeds from maturities, redemptions, and prepayments of:
Debt securities held-to-maturity	960,360	700,759	437,311
Debt securities available-for-sale	334,397	295,026	195,874
Other investments	13,715	6,263	2,027
Derivatives, index options	106,451	52,768	191,031
Property and equipment	0	0	8
Purchases of:
Debt securities held-to-maturity	(544,092)	(257,928)	(472,224)
Debt securities available-for-sale	(297,998)	(187,570)	(264,999)
Equity securities	(1,395)	(1,342)	(2,442)
Derivatives, index options	(62,568)	(77,381)	(86,692)
Other investments	(52,944)	(7,315)	(8,314)
Property, equipment, and other productive assets	(12,106)	(2,844)	(3,138)
Payment to acquire businesses, net of cash acquired	0	(189,121)	0
Principal payments on mortgage loans	14,814	47,755	35,159
Cost of mortgage loans acquired	(80,220)	(121,420)	(29,884)
(Increase) decrease in policy loans	5,925	2,844	1,681
Net cash provided by (used in) investing activities	393,537	377,874	27,929
Cash flows from financing activities:
Dividends on common stock	(1,273)	(1,273)	(1,273)
Deposits to account balances for universal life and annuity contracts	501,867	405,236	560,583
Return of account balances on universal life and annuity contracts	(939,309)	(989,980)	(1,001,224)
Borrowings under line of credit agreement	0	75,000	0
Principal payments on line of credit borrowings	0	(75,000)	0
Principal payments under finance lease obligation	(378)	0	0
Net cash provided by (used in) financing activities	(439,093)	(586,017)	(441,914)
Effect of foreign exchange	19	663	1,714
Net increase (decrease) in cash, cash equivalents, and restricted cash	327,534	121,549	(85,648)
Cash, cash equivalents, and restricted cash at beginning of year	253,525	131,976	217,624
Cash, cash equivalents, and restricted cash at end of year	581,059	253,525	131,976
Cash paid during the year for:
Interest	75	271	40
Income taxes	13,980	37,153	19,202
Noncash operating activities:
Net deferral and amortization of sales inducements	(12,464)	(17,195)	(12,753)
Establishment of funds withheld liability (see Note 5)	1,697,591	0	0
Deferred cost of reinsurance (see Note 5)	102,840	0	0
Noncash investing activities:
Contingent consideration to acquire businesses	0	3,700	0
Exchange of debt securities available for sale for equity securities	0	2,452	0
Exchange of debt securities available for sale	$ 0	$ 782	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation National Western Life Insurance Company ("National Western" or "NWLIC") became a wholly owned subsidiary of National Western Life Group, Inc. ("NWLGI") effective October 1, 2015 under a previously announced holding company reorganization. As a result of the reorganization, NWLGI replaced National Western as the publicly held company. The accompanying Consolidated Financial Statements include the accounts of NWLGI and its wholly owned subsidiaries: National Western, Regent Care San Marcos Holdings, LLC, NWL Services, Inc., and N.I.S. Financial Services, Inc. ("NIS"). National Western's wholly owned subsidiaries include The Westcap Corporation, NWL Financial, Inc., NWLSM, Inc., Braker P III, LLC, and Ozark National Life Insurance Company ("Ozark National"). The 2019 results of operations for Ozark National and NIS include their respective business activity subsequent to their acquisition effective January 31, 2019 and all references herein to results for 2019 refer to their eleven month activity February 1, 2019 through December 31, 2019. All significant intercorporate transactions and accounts have been eliminated in consolidation. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates in the accompanying Consolidated Financial Statements include (1) liabilities for future policy benefits, (2) valuation of derivative instruments, (3) recoverability and amortization of deferred policy acquisition costs ("DPAC"), deferred sales inducements ("DSI") and the value of business acquired ("VOBA"), (4) valuation allowances for deferred tax assets, (5) goodwill, (6) allowances for credit losses and, prior to January 1, 2020, other-than-temporary impairment losses on debt securities, (7) commitments and contingencies, and (8) allowance for credit losses for mortgage loans and real estate. During the year ended December 31, 2019, the Company incorporated accounting estimates for business combinations, value of business acquired, and fair value measurement as a result of its acquisition of Ozark National and NIS. The table below shows the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income for the years ended December 31, 2020, 2019 and 2018. Affected Line Item In the Consolidated Statements of Earnings Amount Reclassified from Accumulated Other Comprehensive Income Years Ended December 31, 2020 2019 2018 (In thousands) Other net investment gains (losses) $ 5,677 2,787 3,441 Net OTTI losses recognized in earnings — (7,847) — Earnings before Federal income taxes 5,677 (5,060) 3,441 Federal income taxes 1,192 (1,063) 723 Net earnings $ 4,485 (3,997) 2,718 National Western and Ozark National also file financial statements with insurance regulatory authorities which are prepared on the basis of statutory accounting practices prescribed or permitted by the Colorado Division of Insurance and Missouri Department of Commerce and Insurance, respectively, which are significantly different from Consolidated Financial Statements prepared in accordance with GAAP. These differences are described in detail in Note (9) Statutory Information . Certain amounts in the prior year Consolidated Financial Statements have been reclassified to conform to the current year financial statement presentation. Revision of Prior Period Consolidated Financial Statements During the first quarter of 2020, management identified an understatement of an excess benefit reserve on a specific block of policies that dated back to the first quarter of 2004 with the adoption of the Statement of Position 03-1, Accounting and Reporting by Insurance Enterprises for Certain Nontraditional Long-Duration Contracts and for Separate Accounts (SOP 03-1). Management concluded that this error was not material to previously issued consolidated financial statements and would be corrected through a revision to the comparative consolidated balance sheet presented for the year ended December 31, 2019. The impact of this revision as of December 31, 2019 was an increase to the future policy benefits liability of $15.0 million, a decrease to deferred federal income tax liability of $3.2 million, and a decrease to retained earnings of $11.8 million. Investments Fixed Maturities and Equity Securities Historically, investments in debt securities the Company purchased with the intent to hold to maturity were classified as securities held-to-maturity and were reported at amortized cost (less declines in fair value that were deemed other-than-temporary). Effective December 31, 2020, the Company entered into a funds withheld reinsurance agreement under which certain securities were required to be reclassified from held-to-maturity to available-for-sale given a change in intent with respect to these securities by the reinsurer. Given this occurrence, it was determined that the held-to maturity classification of the other remaining held-to-maturity securities was no longer appropriate. Accordingly, all other debt securities previously classified as held-to-maturity were transferred at their fair value to available-for-sale as of December 31, 2020. Investments in debt securities classified as securities available-for-sale are reported in the accompanying Consolidated Financial Statements at fair value. Valuation changes resulting from changes in the fair value of the securities are reflected as a component of Stockholders' Equity in Accumulated other comprehensive income. These unrealized gains or losses in stockholders' equity are reported net of taxes and adjustments to deferred policy acquisition costs. Transfers of securities between categories are recorded at fair value at the date of transfer. Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the effective interest method. For mortgage-backed and asset-backed securities, the effective interest method is used based on anticipated prepayments and the estimated economic life of the securities. When estimates of prepayments change, the effective yield is recalculated to reflect actual payments to date and anticipated future payments. The net investment in the securities is adjusted to the amount that would have existed had the new effective yield been applied at the time of acquisition (retrospective method). This adjustment is reflected in net investment income. For loan-backed securities not meeting the definition of "highly rated", the prospective method is evaluated and, if materially different from the retrospective method, utilized to account for these securities. The retrospective adjustment method has been used to value all loan-backed and structured securities included in the accompanying Consolidated Financial Statements. As further disclosed under Accounting Standards and Changes in Accounting in this note, the Company adopted new accounting guidance for debt securities in the held-to-maturity category as of January 1, 2020. The Company employed a cohort cumulative loss rate method in estimating current expected credit losses with respect to its held-to-maturity debt securities. This method applies publicly available industry wide statistics of default incidence by defined segmentations of debt security investments combined with future assumptions regarding economic conditions (i.e. GDP forecasts) both in the near term and the long term. The Company utilized Moody's loss rates by industry type and credit ratings and applied them to each major bond category. These bond categories were further segmented by credit ratings and by maturities of two years and less and more than two years. The Company determines current expected credit losses for available-for-sale debt securities in accordance with FASB ASC Subtopic 326-30 when fair value is less than amortized cost, interest payments are missed and the security is experiencing credit issues. Provisions to and releases from the allowance for credit losses are recorded in net investment income in the Condensed Consolidated Statements of Earnings. Previous accounting guidance required the Company to review its portfolio for potential other-than-temporary impairments which would require that affected securities be written down to an adjusted cost basis with the amount of the writedown recorded as part of net realized gains and losses in the Consolidated Statements of Earnings. Under this previous guidance, the Company reviewed its investment portfolio for market value changes to identify changes caused by issuer credit deterioration, changes in market interest rates and changes in economic conditions. If this review indicated a decline in fair value that was other-than-temporary, the Company’s carrying amount in the investment was reduced to its estimated fair value as an other-than-temporary impairment ("OTTI"). In accordance with GAAP guidance the estimated credit versus non-credit components of the OTTI were bifurcated. The credit component was recorded in earnings and resulted in the establishment of a new cost basis for the security. The non-credit component was reclassified as unrealized loss in Other comprehensive income. The Company would not recognize impairment of securities due to changing of interest rates or market dislocations unless the Company had the intent to sell the securities prior to recovery or maturity. The Company considered a number of factors in determining whether the impairment was other-than-temporary. These included, but were not limited to: 1) actions taken by rating agencies, 2) default by the issuer, 3) the significance of the decline in fair value, 4) the intent and ability to hold the investment until recovery, 5) the time period during which the decline had occurred, 6) an economic analysis of the issuer’s industry, and 7) the financial strength, liquidity, and recoverability of the issuer. Management performed a security-by-security review in evaluating the need for any other-than-temporary impairments. Although no set formula was used in this process, the investment performance, collateral position, and continued viability of the issuer were significant measures considered. Equity securities, common and non-redeemable preferred stocks are reported at fair value with changes in fair value included in net investment income in the Consolidated Statement of Earnings. Alternative Investments The Company invests in certain non-fixed income, alternative investments in the form of limited partnerships or similar legal structures (i.e. investment funds). The Company does not have a controlling interest and is not the primary beneficiary for any of its alternative investments; accordingly, these investments are accounted for using the equity method of accounting where the cost is recorded as an investment in the fund. Adjustments to the carrying amount reflect the pro rata ownership percentage of the operating results as indicated by the net asset value in the investment fund financial statements, which can be done on a lag of up to three months when investee information is not received in a timely manner. Alternative investments are reported in other long-term investments in the Consolidated Balance Sheets. The proportionate share of investment fund income is reported as a component of Net realized investment gains in the Consolidated Statements of Earnings. Derivatives Fixed-index products combine features associated with traditional fixed annuities and universal life contracts, with the option to have interest rates linked in part to an underlying equity index. The equity return component of such policy contracts is identified separately and accounted for in future policy benefits as embedded derivatives on the Consolidated Balance Sheets. The remaining portions of these policy contracts are considered the host contracts and are recorded separately within future policy benefits as fixed annuity or universal life contracts. The host contracts are accounted for under debt instrument type accounting. The host contracts are recorded as discounted debt instruments that are accreted, using the effective yield method, to their minimum account values at their projected maturities or termination dates. The Company purchases over-the-counter index options, which are derivative financial instruments, to hedge the equity return component of its index annuity and life products. The amounts which may be credited to policyholders are linked, in part, to the returns of the underlying index. The index options act as hedges to match closely the returns on the underlying index. Cash is exchanged upon purchase of the index options and no principal or interest payments are made by either party during the option periods. Upon maturity or expiration of the options, cash is paid to the Company based on the underlying index performance and terms of the contract. As a result, amounts credited to policyholders' account balances are substantially offset by changes in the value of the options. The Company does not elect hedge accounting relative to derivative instruments. The derivatives are reported at their fair value in the accompanying Consolidated Financial Statements. Changes in the values of the index options and changes in the policyholder liabilities are both reflected in the Consolidated Statement of Earnings. Any gains or losses from the sale or expiration of the options, as well as period-to-period changes in values, are reflected as net investment income in the Consolidated Statement of Earnings. Any changes relative to the embedded derivatives associated with policy contracts are reflected in contract interest in the Consolidated Statement of Earnings. Although there is credit risk in the event of nonperformance by counterparties to the index options, the Company does not expect any counterparties to fail to meet their obligations, given their high credit ratings. In addition, credit support agreements are in place with all counterparties for option holdings in excess of specific limits, which further reduces the Company's credit exposure. At December 31, 2020 and 2019, the fair value of index options owned by the Company totaled $132.8 million and $157.6 million, respectively. Of these amounts, $71.0 million and $80.7 million represent unrealized gains and losses on the options held at December 31, 2020 and 2019, respectively. Additionally, effective December 31, 2020, the Company is a party to a coinsurance funds withheld reinsurance agreement under which identified assets are maintained in a funds withheld account but the interest and credit risk of these assets has been transferred to the reinsurer, representing a total return swap with a floating rate leg. Accordingly the Company bifurcates the embedded derivative from the host contract in accordance with ASC 815-15. The fair value of the embedded derivative funds withheld liability is computed as the unrealized gain (loss) on the underlying funds withheld assets and is included in the funds withheld liability on the Consolidated Balance Sheets, with changes in the fair value of embedded derivatives reported in the net realized investment gains in the Consolidated Statements of Earnings. Contributions to and withdrawals from the funds withheld liability are reported in operating activities in the Consolidated Statements of Cash Flows. The value of the embedded derivative at December 31, 2020 was $0 million. Mortgage Loans and Other Long-term Investments Mortgage loans and other long-term investments are stated at cost, less unamortized discounts, deferred fees, and allowances for possible losses. Policy loans are stated at their aggregate unpaid balances. Real estate is stated at the lower of cost or fair value less estimated costs to sell. As further disclosed under Accounting Standards and Changes in Accounting in this note, effective January 1, 2020, the Company implemented FASB ASU 2016-13, Financial Instruments-Credit Losses , which revises the credit loss recognition criteria for mortgage loans replacing the existing incurred loss recognition model with an expected loss recognition model (“CECL”). The objective of the CECL model is for the reporting entity to recognize its estimate of current expected credit losses for affected financial assets in a valuation allowance deducted from the amortized cost basis of the related financial assets that results in presenting the net carrying value of the financial assets at the amount expected to be collected. For mortgage loan investments the Company is using the Weighted Average Remaining Maturity ("WARM") method, which uses an average annual charge-off rate applied to each mortgage loan risk category. The WARM method is also used to calculate the CECL allowance on unfunded mortgage loan commitments. The CECL allowance on unfunded mortgage loan commitments is reported in other liabilities in the Consolidated Balance Sheets, with changes in the CECL allowance related to unfunded commitments recorded through Other operating expenses in the Consolidated Statements of Earnings. Prior to January 1, 2020, impaired loans were those loans where it is probable that all amounts due according to contractual terms of the loan agreement would not be collected. The Company identified these loans through its normal loan review procedures. Impaired loans included: 1) nonaccrual loans, 2) loans which were 90 days or more past due, unless they were well secured and were in the process of collection, and 3) other loans which management believed were impaired. Impaired loans were measured based on: 1) the present value of expected future cash flows discounted at the loan's effective interest rate, 2) the loan's observable market price, or 3) the fair value of the collateral if the loan is collateral dependent. When the Company had loans considered impaired substantially all were measured at the fair value of the collateral. In limited cases, the Company used other methods to determine the level of impairment of a loan if such loan was not collateral dependent. Mortgage loans were placed on non-accrual status if there were concerns regarding the collectability of future payments. Interest income on non-performing loans is generally recognized on a cash basis. Once mortgage loans are classified as nonaccrual loans, the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan has been restructured such that the collection of interest is considered likely. Accrued Investment Income The accrual of investment income on invested assets is discontinued when it is determined that it is probable that the income will not be collected. Realized Gains and Losses on Investments Realized gains and losses for securities available-for-sale and securities held-to-maturity are included in earnings and are derived using the specific identification method for determining the cost of securities sold or called. Prepayment penalty fees received from issuers that call their securities before maturity are excluded from the calculation of realized gain or loss and are included as a component of investment income. After an OTTI write down of fixed maturities due to a credit-only impairment, the cost basis is not adjusted for subsequent recoveries in fair value. For fixed maturities for which a reasonable estimate of future cash flows are available after a write down, the discount or reduced premium recorded, based on the new cost basis, is amortized over the remaining life of the security. Amortization in this instance is computed using the prospective method and the current estimate of the amount and timing of future cash flows. Fair Values Fair values of equity securities are based on quoted market prices in active markets when available. Fair values of fixed maturities are based on market prices in the fixed income markets. Fair values of derivative investments are based on the latest counterparty model market prices. Items not readily marketable are generally based on values that are representative of the fair values of comparable issues. Fair values for all securities are reviewed for reasonableness by considering overall market conditions and values for similar securities. See Note (4) Fair Values of Financial Instruments for more information on fair value policies, including assumptions and the amount of securities priced using the valuation models. Cash and Cash Equivalents For purposes of the Consolidated Statements of Cash Flows, the Company considers all short-term investments with a maturity at the date of purchase of three months or less to be cash equivalents. Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired Deferred policy acquisition costs ("DPAC") include certain costs of successfully acquiring new insurance business, including commissions and other expenses related directly to the production of new business, to the extent recoverable from future policy revenues and gross profits (indirect or unsuccessful acquisition costs, maintenance, product development and overhead expenses are charged to expenses as incurred). Also included are premium bonuses and bonus interest credited to contracts during the first contract year only. These deferred sales inducements ("DSI") are also deferrable to the extent recoverable. For interest sensitive universal life and annuity products, these costs are amortized in relation to the present value of expected gross margins or gross profits on these policies. For nonparticipating traditional life products, these costs are amortized over the premium paying period of the related policies, in proportion to the ratio of annual premium revenues to total anticipated premium revenues. Such anticipated premium revenues are estimated using the same assumptions used for computing liabilities for future policy benefits. The Company evaluates the recoverability of deferred policy acquisition and sales inducement costs on a quarterly basis. In this evaluation, the Company considers estimated future gross profits or future premiums, as applicable for the type of contract. The Company also considers expected mortality, interest earned and credited rates, persistency, and expenses. In accordance with GAAP guidance, the Company must also write off deferred policy acquisition costs and unearned revenue liabilities upon internal replacement of certain contracts as well as annuitizations of deferred annuities. All insurance and investment contract modifications and replacements are reviewed to determine if the internal replacement results in a substantially changed contract. If so, the acquisition costs, sales inducements and unearned revenue associated with the new contract are deferred and amortized over the lifetime of the new contract. In addition, the existing deferred policy acquisition costs, sales inducement costs and unearned revenue balances associated with the replaced contract are written off. If an internal replacement results in a substantially unchanged contract, the acquisition costs, sales inducements and unearned revenue associated with the new contract are immediately recognized in the period incurred. In addition, the existing deferred policy acquisition costs, sales inducement costs or unearned revenue balance associated with the replaced contract are not written off, but instead are carried over to the new contract . Amortization of DPAC and DSI is reviewed each year and adjusted retrospectively through an unlocking process when estimates of current or future gross profits/margins (including the impact of investment gains and losses) to be realized from a group of products are revised. The value of insurance in force business acquired ("VOBA") is a purchase accounting convention for life insurance companies in business combinations based upon an actuarial determination of the difference between the fair value of policy liabilities acquired and the same policyholder liabilities measured in accordance with the acquiring company's accounting policies. The difference, referred to as VOBA, is an intangible asset subject to periodic amortization. It represents the portion of the purchase price allocated to the value of the rights to receive future cash flows from the business in force at the acquisition date. The Company began performing recoverability testing of value business acquired in 2020. Refer to Note (7) Business Combinations for more information. Reinsurance The Company cedes insurance and investment contracts under a coinsurance with funds withheld arrangement, following reinsurance accounting for transactions that provides indemnification against loss or liability relating to insurance risk. To meet risk transfer requirements, a reinsurance agreement must transfer insurance risk arising from uncertainties about both underwriting and timing risks. Cessions under reinsurance do not discharge the Company's obligations as the primary insurer. Assets and liabilities are presented on a gross basis on the Consolidated Balance Sheets. The funds withheld consist of a segregated portfolio of cash and invested assets which is sufficient to support the current balance of statutory reserves. The fair value of the funds withheld is recorded as a funds withheld liability and any excess or shortfall in relation to statutory reserves is settled periodically. Refer to Note (5) Reinsurance for more information. Other Assets Other assets include property and equipment, primarily comprised of capitalized software costs, furniture and equipment and leasehold improvements, which are reported at cost less allowances for depreciation and amortization. Costs incurred in the preliminary stages of developing internal-use software as well as costs incurred post-implementation for maintenance are expensed. Capitalization of internal-use software costs occurs after management has authorized the project and it is probable that the software will be used as intended. Amortization of software costs begins after the software has been placed in production. Depreciation and amortization expense is computed primarily using the straight-line method over the estimated useful lives of the assets, which range from 3 to 39 years. Leasehold improvements are amortized over the lesser of the economic useful life of the improvement or the term of the lease. Capitalized software, property, and equipment had a carrying value of $155.9 million at December 31, 2020 and $153.6 million at December 31, 2019, and accumulated depreciation and amortization of $72.6 million at December 31, 2020 and $62.5 million at December 31, 2019. Depreciation and amortization expense for capitalized software, furniture and equipment, and leasehold improvements was $11.9 million, $10.7 million, and $11.1 million in 2020, 2019, and 2018, respectively. Other assets also include goodwill at December 31, 2020 and 2019 of $13.9 million related to the excess of the amounts paid to acquire companies over the fair value of other net tangible and intangible assets acquired. It represents the future economic benefits arising from assets acquired and liabilities assumed that could not be individually identified. Goodwill is not amortized but is subject to annual impairment analysis at the same time each year or more frequently if indicators are present. The Company annually reviews its goodwill balance to determine if indicators suggest an impairment may have occurred and would suggest the value has declined below the carrying value of goodwill. Refer to Note (7) Business Combinations for further information concerning the determination of goodwill. Other assets at December 31, 2020 and 2019 further include $8.2 million and $8.9 million, respectively, of identifiable intangible assets acquired in a business combination. These intangible assets include trademarks and trade names, internally developed software, and various insurance licenses. Identifiable intangible assets are being amortized using a straight-line method over their estimated useful lives. Future Policy Benefits Under GAAP, the liability for future policy benefits on traditional products has been calculated using assumptions as to future mortality (based on the 1965-1970, 1975-1980, and 2001 Select and Ultimate mortality tables), interest ranging from 3.25% to 8.00%, and withdrawals based on Company experience. For universal life and annuity contracts, the liability for future policy benefits represents the account balance. Fixed-index products combine features associated with traditional fixed annuities and universal life contracts, with the option to have interest rates linked in part to an equity index. In accordance with GAAP guidance , the equity return component of such policy contracts must be identified separately and accounted for as embedded derivatives. The remaining portions of these policy contracts are considered the host contracts and are recorded separately as fixed annuity or universal life contracts. The host contracts are accounted for under GAAP guidance provisions that require debt instrument type accounting. The host contracts are recorded as discounted debt instruments that are accreted, using the effective yield method, to their minimum account values at their projected maturities or termination dates. The embedded derivatives are recorded at fair value. The fair value of the embedded derivative component of policy benefit reserves is estimated at each valuation date by (a) projecting policy and contract values and minimum guaranteed values over the expected lives of the policies and contracts and (b) discounting the excess of the projected value amounts at the applicable risk free interest rates adjusted for nonperformance risk related to those liabilities. The projections of policy and contract values are based upon best estimate assumptions for future policy growth and future policy decrements. Best estimate assumptions for future policy growth includes assumptions for the expected index credit on the next policy anniversary date which are derived from the fair values of the underlying call options purchased to fund such index credits and the expected costs of annual cost options purchased in the future to fund index credits beyond the next policy anniversary. The projections of minimum guaranteed contract values include the same best estimate assumptions for policy decrements as were used to project policy contract values. Other Policy Claims and Benefits Unearned revenue reserves are maintained that reflect the unamortized balance of charges assessed to interest sensitive contract holders which serve as compensation for services to be performed over future periods (policy premium loads). These charges have been deferred and are being recognized in income over the period benefited using the same assumptions and factors used to amortize deferred acquisition costs. Share-based Compensation The Company accounts for share-based compensation under GAAP using liability accounting, and measures compensation cost using the fair value method at each reporting date. For stock appreciation rights, fair value is determined using an option pricing model that takes into account various information and assumptions including the Company's stock price, volatility, option price, vesting dates, exercise dates and projected lapses from forfeiture or termination. Deferred Income Taxes Federal income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance for deferred tax assets is provided if all or some portion of the deferred tax asset may

Investments

Investments	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS (A) Investment Income The major components of net investment income are as follows: Years Ended December 31, 2020 2019 2018 (In thousands) Gross investment income: Debt and equity securities $ 373,479 403,372 399,645 Mortgage loans 13,162 12,595 12,066 Policy loans 3,361 3,539 3,185 Derivative gains (losses) 14,754 123,207 (80,004) Short term investments 2,160 2,974 2,249 Other investment income 12,698 13,057 13,289 Total investment income 419,614 558,744 350,430 Less investment expenses 2,412 3,252 1,353 Net investment income $ 417,202 555,492 349,077 (B) Mortgage Loans and Real Estate A financing receivable is a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in a company’s statement of financial position. The Company’s mortgage, participation and mezzanine loans on real estate are the only financing receivables included in the Consolidated Balance Sheets. In general, the Company originates loans on high quality, income-producing properties such as shopping centers, freestanding retail stores, office buildings, industrial and sales or service facilities, selected apartment buildings, hotels, and health care facilities. The location of these properties is typically in major metropolitan areas that offer a potential for property value appreciation. Credit and default risk is minimized through strict underwriting guidelines and diversification of underlying property types and geographic locations. In addition to being secured by the property, mortgage loans with leases on the underlying property are often guaranteed by the lease payments. This approach has proven to result in quality mortgage loans with few defaults. Mortgage loan interest income is recognized on an accrual basis with any premium or discount amortized over the life of the loan. Prepayment and late fees are recorded on the date of collection. The Company targets a minimum specified yield on mortgage loan investments determined by reference to currently available debt security instrument yields plus a desired amount of incremental basis points. During the past several years, the low interest rate environment, a competitive marketplace, and in 2020 the COVID-19 pandemic, resulted in fewer loan opportunities being available that met the Company's required rate of return. Mortgage loans originated by the Company totaled $80.2 million and $121.4 million for the years 2020 and 2019, respectively. Loans in foreclosure, loans considered impaired or loans past due 90 days or more are placed on a non-accrual status. If a mortgage loan is determined to be on non-accrual status, the mortgage loan does not accrue any revenue into the Consolidated Statements of Earnings. The loan is independently monitored and evaluated as to potential impairment or foreclosure. If delinquent payments are made and the loan is brought current, then the Company returns the loan to active status and accrues income accordingly. The Company has no loans past due 90 days which are accruing interest. In 2020, the pandemic crisis caused various mortgage loan borrowers to request a temporary forbearance of principal payments on loans for a period of three to nine months. During 2020, there we re eight loans representing an aggregate principal balance of $29.2 million with borrowers meeting specified criteria of the Com pany that forbearance terms were agreed to. At December 31, 2020, only one of these loans with a principal balance of $4.7 million remained in forbearance. The Company held net investments in mortgage loans, after allowances for credit losses, totaling $332.5 million and $272.4 million at December 31, 2020 and 2019, respectively. The diversification of the portfolio by geographic region, property type, and loan-to-value ratio was as follows: December 31, 2020 December 31, 2019 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Geographic Region: West South Central $ 201,501 60.1 $ 191,089 70.0 East North Central 16,478 4.9 17,248 6.3 South Atlantic 51,857 15.5 35,698 13.1 East South Central 27,590 8.2 8,063 2.9 West North Central 12,423 3.7 12,505 4.6 Pacific 6,228 1.9 6,436 2.4 Middle Atlantic 1,975 0.6 2,058 0.7 Mountain 16,955 5.1 — — Gross balance 335,007 100.0 273,097 100.0 Allowance for credit losses (2,486) (0.7) (675) (0.2) Totals $ 332,521 99.3 $ 272,422 99.8 December 31, 2020 December 31, 2019 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Property Type: Retail $ 92,173 27.5 $ 91,790 33.6 Office 111,735 33.3 95,362 34.9 Storage facility 53,591 16.0 30,619 11.2 Industrial 29,131 8.7 5,733 2.1 Hotel 8,372 2.5 8,997 3.3 Land/lots 4,680 1.4 4,829 1.8 Apartments 29,743 8.9 30,000 11.0 All other 5,582 1.7 5,767 2.1 Gross balance 335,007 100.0 273,097 100.0 Allowance for credit losses (2,486) (0.7) (675) (0.2) Totals $ 332,521 99.3 $ 272,422 99.8 December 31, 2020 December 31, 2019 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 66,635 19.9 $ 52,778 19.3 50% to 60% 64,536 19.3 56,929 20.8 60% to 70% 153,414 45.8 117,377 43.0 70% to 80% 50,422 15.0 46,013 16.9 80% to 90% — — — — Gross balance 335,007 100.0 273,097 100.0 Allowance for credit losses (2,486) (0.7) (675) (0.2) Totals $ 332,521 99.3 $ 272,422 99.8 (1) Loan-to-Value Ratio is determined using the most recent appraised value. Appraisals are required at the time of funding and may be updated if a material change occurs from the original loan agreement. All mortgage loans are analyzed quarterly in order to monitor the financial quality of these assets. Based on ongoing monitoring, mortgage loans with a likelihood of becoming delinquent are identified and placed on an internal “watch list.” Among the criteria that would indicate a potential problem include: major tenant vacancies or bankruptcies, late payments, and loan relief/restructuring requests. The mortgage loan portfolio is analyzed for the need for a valuation allowance on any loan that is on the internal watch list, in the process of foreclosure or that currently has a valuation allowance. Prior to January 1, 2020, mortgage loans were considered impaired when, based on current information and events, it was probable that the Company would be unable to collect all amounts due according to the contractual terms of the loan agreement. When it was determined that a loan was impaired, a loss was recognized for the difference between the carrying amount of the mortgage loan and the estimated value reduced by the cost to sell. Estimated value was typically based on the loan's observable market price or the fair value of the collateral less cost to sell. Impairments and changes in the valuation allowance were reported in net realized investment gains (losses) in the Condensed Consolidated Statements of Earnings. The Company held a valuation allowance of $0.7 million at December 31, 2019. As disclosed in Note (1) Summary of Significant Accounting Policies , the Company adopted new accounting guidance for credit loss recognition criteria for certain financial assets, including mortgage loans. For mortgage loan investments the Company employed the Weighted Average Remaining Maturity ("WARM") method in estimating current expected losses with respect to mortgage loan investments as of January 1, 2020 and each succeeding calendar quarter-end during 2020. The WARM method applies publicly available data of default incidence of commercial real estate properties by several defined segmentations combined with future assumptions regarding economic conditions (i.e. GDP forecasts) both in the near term and the long term. Under this new accounting guidance, at January 1, 2020 a balance of $1.2 million was recorded which incorporated the previous year-end balance under the prior accounting method. The adjustment resulted in a charge to retained earnings as a change in accounting, net of tax, of $0.4 million. Subsequent changes in the allowance for current expected credit losses were reported in net investment income in the Consolidated Statements of Earnings. The following table represents the mortgage loan allowance for credit losses. Years Ended December 31, 2020 2019 (In thousands) Mortgage Loans Allowance for Credit Losses: Balance, beginning of the period $ 675 675 Impact of adoption of new accounting guidance 504 — Provision during the period 1,307 — Releases — — Balance, end of period $ 2,486 675 The Company does not recognize interest income on loans past due 90 days or more. The Company had no mortgage loans past due six months or more at December 31, 2020, 2019 and 2018. There was no interest income not recognized in 2020, 2019 or 2018. The contractual maturities of mortgage loan principal balances at December 31, 2020 and 2019 were as follows: December 31, 2020 December 31, 2019 Amount % Amount % (In thousands) (In thousands) Principal Balance by Contractual Maturity: Due in one year or less $ 4,208 1.3 $ 497 0.2 Due after one year through five years 60,826 18.1 34,306 12.5 Due after five years through ten years 154,787 46.1 142,477 52.1 Due after ten years through fifteen years 107,662 32.1 96,359 35.2 Due after fifteen years 7,977 2.4 — — Totals $ 335,460 100.0 $ 273,639 100.0 The Company's direct investments in real estate investments are not a significant portion of its total investment portfolio. These investments totaled approximately $33.8 million at December 31, 2020 and $34.6 million at December 31, 2019, and consist primarily of income-producing properties which are being operated by a wholly owned subsidiary of National Western. Included in the amount at December 31, 2020 and 2019 is a surface parking property owned by Ozark National which it contracts. The value of this real estate investment was appraised at $4.3 million at January 31, 2019 as part of the purchase accounting done as of that date. The Company’s real estate holdings are reflected in other long-term investments in the accompanying Consolidated Financial Statements. The Company records real estate at the lower of cost or fair value less estimated cost to sell, which is determined on an individual asset basis. The Company recognized operating income on these properties of approximately $2.9 million, $2.9 million and $2.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. The Company had real estate investments that were non-income producing for the preceding twelve months totaling $0.4 million, $0.4 million, and $5.2 million at December 31, 2020, 2019 and 2018, respectively. The balance at December 31, 2018 includes the Company's former home office facility which was held for sale and sold during 2019. Net real estate gains for the year ended December 31, 2020 were $2.7 million, and related to the sale of a property located in Travis County Texas. The net real estate gains for the year ended December 31, 2019 primarily pertain to the Company's sale of its nursing home operations in Reno, Nevada and San Marcos, Texas as well as a property sold located in Austin, Texas. The sale of the Reno nursing home included a gain of $5.7 million realized on the sale of the land and building associated with the operation. The sale of the San Marcos nursing home recorded a loss of $(2.0) million associated with the sale of the land and building of this operation. The sale of the Company's prior home office realized a gain on the sale of $3.2 million. The net realized investment gain in 2018 was on a sale of previously occupied home office property located in Austin, Texas adjoining the property sold in 2019. (C) Debt Securities The table below presents amortized costs and fair values of debt securities available-for-sale at December 31, 2020. Debt Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses (In thousands) Debt securities: US government agencies $ 72,945 2,496 — 75,441 — US treasury 3,152 126 — 3,278 — States and political subdivisions 528,266 37,909 (86) 566,089 — Foreign governments 11,115 334 — 11,449 — Public utilities 831,990 77,920 — 909,910 — Corporate 7,376,104 727,470 (4,601) 8,098,973 — Commercial mortgage-backed 30,108 1,363 — 31,471 — Residential mortgage-backed 902,974 50,970 (156) 953,788 — Asset-backed 117,889 2,635 — 120,524 — Totals $ 9,874,543 901,223 (4,843) 10,770,923 — The table below presents amortized costs and fair values of debt securities held-to-maturity at December 31, 2019. Debt Securities Held-to-Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. agencies $ 100,910 1,686 — 102,596 U.S. Treasury 3,782 140 — 3,922 States and political subdivisions 431,433 19,440 (84) 450,789 Foreign governments 1,144 55 — 1,199 Public utilities 888,444 36,638 (83) 924,999 Corporate 4,607,826 212,281 (718) 4,819,389 Commercial mortgage-backed 3,032 52 — 3,084 Residential mortgage-backed 1,066,899 32,706 (716) 1,098,889 Asset-backed 2,775 62 (1) 2,836 Totals $ 7,106,245 303,060 (1,602) 7,407,703 The table below presents amortized costs and fair values of debt securities available-for-sale at December 31, 2019. Debt Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 98,037 4,495 (3) 102,529 Foreign governments 9,983 203 — 10,186 Public utilities 67,895 3,476 — 71,371 Corporate 2,921,431 141,705 (2,479) 3,060,657 Commercial mortgage-backed 28,871 1,071 — 29,942 Residential mortgage-backed 12,815 1,077 (117) 13,775 Asset-backed 67,088 1,397 — 68,485 Totals $ 3,206,120 153,424 (2,599) 3,356,945 The Company's investment policy is to invest in high quality securities with the primary intention of holding these securities until the stated maturity. As such, the portfolio has exposure to interest rate risk, which is the risk that funds are invested today at a market interest rate and in the future interest rates rise causing the current market price on that investment to be lower. This risk is not a significant factor relative to the Company's buy and hold portfolio, since the intention is to receive the stated interest rate and principal at maturity to match liability requirements to policyholders. The Company manages these risks, for example, by purchasing mortgage-backed securities types that have more predictable cash flow patterns. The Company held below investment grade debt securities totaling $303.5 million and $83.7 million at December 31, 2020 and 2019, respectively. These amounts represent 2.7% and 0.8% of total invested assets for December 31, 2020 and 2019, respectively. Below investment grade holdings are the result of credit rating downgrades subsequent to purchase, as the Company only invests in high quality securities with ratings quoted as investment grade. Below investment grade securities generally have greater default risk than higher rated corporate debt. The issuers of these securities are usually more sensitive to adverse industry or economic conditions than are investment grade issuers. For the year ended December 31, 2020, the Company recorded net realized gains totaling $21.1 million related to the disposition of investment securities and real estate. For the years ended December 31, 2019 and 2018, the Company recorded net realized gains totaling $6.2 million and $8.4 million, respectively, related to disposition of securities. Debt securities balances at December 31, 2020 and 2019 include Ozark National holdings of $0.0 million and $307.2 million in held-to-maturity and $811.6 million and $415.7 million in available-for-sale, respectively. As part of the acquisition of Ozark National effective January 31, 2019 the Company employed purchase accounting procedures in accordance with GAAP which revalued the acquired investment portfolio to their fair values as of the date of the acquisition. These fair values became the book values for Ozark National from that point going forward. Accordingly, unrealized gains and losses for the Ozark National debt securities represent the changes subsequent to the purchase accounting book values established at January 31, 2019. The following table shows the gross unrealized losses and fair values of the Company's available-for-sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2020. Debt Securities Available-For-Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — 1,762 (86) 1,762 (86) Public utilities — — — — — — Corporate bonds 174,252 (3,836) 36,152 (765) 210,404 (4,601) Residential mortgage-backed — — 500 (156) 500 (156) Total $ 174,252 (3,836) 38,414 (1,007) 212,666 (4,843) The following table shows the gross unrealized losses and fair values of the Company's held-to-maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2019. Debt Securities Held-to-Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ 5,013 (33) 1,712 (51) 6,725 (84) Public utilities 2,345 (83) — — 2,345 (83) Corporate bonds 31,419 (337) 17,191 (381) 48,610 (718) Residential mortgage-backed 25,859 (63) 43,498 (653) 69,357 (716) Asset-backed 1,349 (1) — — 1,349 (1) Total $ 65,985 (517) 62,401 (1,085) 128,386 (1,602) The following table shows the gross unrealized losses and fair values of the Company's available-for-sale investments by investment category, and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2019. Debt Securities Available-For-Sale Less than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Debt securities: States and political subdivisions $ 470 (3) — — 470 (3) Public utilities — — — — — — Corporate bonds 40,080 (105) 28,582 (2,374) 68,662 (2,479) Residential mortgage-backed — — 710 (117) 710 (117) Total $ 40,550 (108) 29,292 (2,491) 69,842 (2,599) Unrealized losses decreased in 2020 from 2019 amounts primarily as a result of a decrease in market interest rate levels during 2020. The amortized cost and fair value of investments in debt securities at December 31, 2020, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Debt Securities Available-for-Sale Amortized Cost Fair Value (In thousands) Due in 1 year or less $ 686,634 695,720 Due after 1 year through 5 years 4,357,824 4,683,122 Due after 5 years through 10 years 2,441,991 2,755,827 Due after 10 years 1,337,123 1,530,471 8,823,572 9,665,140 Mortgage and asset-backed securities 1,050,971 1,105,783 Total before allowance for credit losses 9,874,543 10,770,923 Allowance for credit losses — — Total $ 9,874,543 10,770,923 The Company uses the specific identification method in computing realized gains and losses. The table below details the nature of realized gains and losses, excluding impairments, during the year. Years Ended December 31, 2020 2019 2018 (In thousands) Available-for-sale debt securities: Realized gains on disposal $ 5,677 3,798 3,447 Realized losses on disposal — (1,011) (6) Held-to-maturity debt securities: Realized gains on redemption 12,734 4,390 3,208 Realized losses on redemption (1) — — Real estate 2,661 6,911 1,799 Mortgage loans — — (25) Other — — — Totals $ 21,071 14,088 8,423 No sales were made out of the held-to-maturity portfolio in 2020, 2019 or 2018. Except for the total U.S. government agency mortgage-backed securities held, the Company had no other investments in any entity in excess of 10.0% of stockholders' equity at December 31, 2020 or 2019. As disclosed in Note (1) Summary of Significant Accounting Policies , the Company adopted new accounting guidance as of January 1, 2020 for credit loss recognition of certain financial assets, including debt securities classified in the held-to-maturity category. The Company employs a cohort cumulative loss rate method in estimating current expected credit losses with respect to its held-to-maturity debt securities. This method applies publicly available industry wide statistics of default incidence by defined segmentations of debt security investments combined with future assumptions regarding economic conditions (i.e. GDP forecasts) both in the near term and the long term. The Company utilizes Moody's loss rates by industry type and credit ratings and applies them to each major bond category. These bond categories are further segmented by credit ratings and by maturities of two years and less and more than two years. The following table presents the allowance for credit losses for December 31, 2020. December 31, 2020 Debt Securities Held-to-Maturity Debt Securities Available-for- Sale (In thousands) Balance, beginning of period $ — — Impact of adoption of new accounting guidance 3,334 — (Releases)/provision during period (3,334) — Balance, end of period $ — — Provisions to and releases from the allowance for credit losses are recorded in net investment income in the Consolidated Statements of Earnings. Previous accounting guidance required the Company to review its portfolio for potential other-than-temporary impairments which would require that affected securities be written down to an adjusted cost basis with the amount of the writedown recorded as part of net realized gains and losses in the Consolidated Statements of Earnings. The Company determines current expected credit losses for available-for-sale debt securities in accordance with FASB ASC Subtopic 326-30 when fair value is less than amortized cost, interest payments are missed and the security is experiencing credit issues. At December 31, 2020, the Company performed additional analyses on certain available-for-sale securities whose market values were negatively impacted by the change in the economic environment precipitated by the COVID-19 pandemic crisis. Based on its review, the Company determined none of these investments required an allowance for credit loss at December 31, 2020. Under the previous guidance, debt securities were not considered to be other-than-temporarily impaired when a decline in market value was attributable to factors such as market volatility, liquidity, spread widening and credit quality in which it was anticipated that a recovery of all amounts due under the contractual terms of the security would occur and the Company had the intent and ability to hold the security until recovery or maturity. There was a $7.8 million other-than-temporary impairment recorded on a single debt security during the year ended December 31, 2019. The Company's operating procedures include monitoring the investment portfolio on an ongoing basis for any changes in issuer facts and circumstances that might lead to future need for a credit loss allowance. (D) Net Unrealized Gains (Losses) Net unrealized gains (losses) on investment securities included in stockholders' equity at December 31, 2020 and 2019, are as follows: December 31, 2020 2019 (In thousands) Gross unrealized gains $ 901,222 153,417 Gross unrealized losses (4,843) (2,603) Adjustments for: Deferred policy acquisition costs and sales inducements (366,327) (61,372) Deferred Federal income tax expense (111,311) (18,783) 418,741 70,659 Net unrealized gains related to securities transferred to held-to-maturity — — Net unrealized gains (losses) on investment securities $ 418,741 70,659 (E) Transfer of Securities

Derivative Investments

Derivative Investments	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Investments	DERIVATIVE INVESTMENTS Fixed-index products provide traditional fixed annuities and universal life contracts with the option to have credited interest rates linked in part to an underlying equity index or a combination of equity indices. The equity return component of such policy contracts is identified separately and accounted for in future policy benefits as embedded derivatives on the Consolidated Balance Sheets. The remaining portions of these policy contracts are considered the host contracts and are recorded separately as fixed annuity or universal life contracts. The host contracts are accounted for under debt instrument type accounting in which future policy benefits are recorded as discounted debt instruments that are accreted, using the effective yield method, to their minimum account values at their projected maturities or termination dates. The Company purchases over-the-counter index options, which are derivative financial instruments, to hedge the equity return component of its fixed-index annuity and life products. The index options act as hedges to match closely the returns on the underlying index or indices. The amounts which may be credited to policyholders are linked, in part, to the returns of the underlying index or indices. As a result, changes to policyholders' liabilities are substantially offset by changes in the value of the options. Cash is exchanged upon purchase of the index options and no principal or interest payments are made by either party during the option periods. Upon maturity or expiration of the options, cash may be paid to the Company depending on the performance of the underlying index or indices and terms of the contract. The Company does not elect hedge accounting relative to these derivative instruments. The index options are reported at fair value in the accompanying Consolidated Financial Statements. The changes in the values of the index options and the changes in the policyholder liabilities are both reflected in the Consolidated Statements of Earnings. Any changes relative to the embedded derivatives associated with policy contracts are reflected in contract interest in the Consolidated Statements of Earnings. Any gains or losses from the sale or expiration of the options, as well as period-to-period changes in values, are reflected as net investment income in the Consolidated Statements of Earnings. Although there is credit risk in the event of nonperformance by counterparties to the index options, the Company does not expect any of its counterparties to fail to meet their obligations, given their high credit ratings. In addition, credit support agreements are in place with all counterparties for option holdings in excess of specific limits, which may further reduce the Company's credit exposure. The tables below present the fair value of derivative instruments. December 31, 2020 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments: Equity index options Derivatives, Index Options $ 132,821 Fixed-index products Universal Life and Annuity Contracts $ 161,351 Total $ 132,821 $ 161,351 December 31, 2019 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments: Equity index options Derivatives, Index Options $ 157,588 Fixed-index products Universal Life and Annuity Contracts $ 155,902 Total $ 157,588 $ 155,902 The table below presents the effect of derivative instruments in the Consolidated Statements of Earnings for the years ended December 31, 2020, 2019 and 2018. Amount of Gain or (Loss) Recognized In Income on Derivatives Derivatives Not Designated as Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives 2020 2019 2018 (In thousands) Equity index options Net investment income (loss) $ 14,754 123,207 (80,004) Fixed-index products Universal life and annuity contract interest (44,970) (91,424) 66,335 $ (30,216) 31,783 (13,669) The embedded derivative liability, the change of which is recorded in universal life and annuity contract interest in the Consolidated Statements of Earnings, includes projected interest credits that are offset by the expected collectability by the Company of asset management fees on fixed-index products. The anticipated asset management fees assumed to be collected increases or decreases based upon the most recent performance of index options and adds to or reduces the offset applied to the embedded derivative liability (increasing or decreasing contract interest expense). In the years ended December 31, 2020, 2019, and 2018, the change in the embedded derivative liability due to the expected collectability of asset management fees increased/(decreased) contract interest expense by $34.6 million, $(33.6) million, and $17.6 million, respectively. During 2020, the Company changed its budget for purchasing options to match the collection of asset management fees with the payoff from out of the money options, thereby removing the option premium currently being paid for the probability or expectation of collecting asset management fees ("out of the money" hedging). As the current one year options outstanding at December 31, 2020 expire and are replaced by out of the money hedges, the embedded derivative liability component due to the projected collectability of asset management fees will be eliminated.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments	FAIR VALUES OF FINANCIAL INSTRUMENTS For financial instruments the FASB provides guidance which defines fair value, establishes a framework for measuring fair value under GAAP, and requires additional disclosures about fair value measurements. In compliance with this GAAP guidance, the Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into a three level hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities ("Level 1") and the lowest priority to unobservable inputs ("Level 3"). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded at fair value on the Consolidated Balance Sheets are categorized as follows: Level 1: Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. These generally provide the most reliable evidence and are used to measure fair value whenever available. The Company's Level 1 assets are equity securities and an alternative asset that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets. Level 2: Fair value is based upon significant inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable for substantially the full term of the asset or liability through corroboration with observable market data as of the reporting date. Level 2 inputs include quoted market prices in active markets for similar assets and liabilities, quoted market prices in markets that are not active for identical or similar assets or liabilities, model-derived valuations whose inputs are observable or whose significant value drivers are observable and other observable inputs. The Company’s Level 2 assets include fixed maturity debt securities (corporate and private bonds, government or agency securities, asset-backed and mortgage-backed securities). Valuations are generally obtained from third party pricing services for identical or comparable assets or determined through use of valuation methodologies using observable market inputs. Level 3: Fair value is based on significant unobservable inputs which reflect the entity’s or third party pricing service’s assumptions about the assumptions market participants would use in pricing an asset or liability. The Company’s Level 3 assets are over-the-counter derivative contracts and the Company’s Level 3 liabilities consist of share-based compensation obligations and certain product-related embedded derivatives and contingent consideration in the acquisition of businesses. Valuations are estimated based on non-binding broker prices or internally developed valuation models or methodologies, discounted cash flow models and other similar techniques. The following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of the date indicated. December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available-for-sale $ 10,770,923 — 10,770,923 — Equity securities 17,744 17,744 — — Derivatives, index options 132,821 — — 132,821 Total assets $ 10,921,488 17,744 10,770,923 132,821 Policyholder account balances (a) $ 161,351 — — 161,351 Other liabilities (b) 6,202 — — 6,202 Total liabilities $ 167,553 — — 167,553 December 31, 2019 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available-for-sale $ 3,356,945 — 3,356,945 — Equity securities 23,594 23,594 — — Derivatives, index options 157,588 — — 157,588 Other invested assets 2 2 — — Total assets $ 3,538,129 23,596 3,356,945 157,588 Policyholder account balances (a) $ 155,902 — — 155,902 Other liabilities (c) 15,301 — — 15,301 Total liabilities $ 171,203 — — 171,203 (a) Represents the fair value of certain product-related embedded derivatives that were recorded at fair value. (b) Represents the liability for share-based compensation. (c) Represents the liability for share-based compensation and contingent consideration for businesses acquired. The following table provides additional information about fair value measurements for which significant unobservable inputs (Level 3) were utilized to determine fair value. December 31, 2020 Assets Other Liabilities Derivatives, Index Options Total Assets Policyholder Account Balances Share-based Comp Contingent Consideration Total Other Liabilities (In thousands) Beginning balance, January 1, 2020 $ 157,588 157,588 155,902 11,225 4,076 171,203 Total realized and unrealized gains (losses): Included in net earnings 14,754 14,754 44,970 (2,350) (4,076) 38,544 Included in other comprehensive income — — — — — — Purchases, sales, issuances and settlements, net: Purchases 61,837 61,837 61,837 — — 61,837 Sales — — — — — — Issuances — — — 164 — 164 Settlements (101,358) (101,358) (101,358) (2,837) — (104,195) Transfers into (out of) Level 3 — — — — — — Balance at end of period $ 132,821 132,821 161,351 6,202 — 167,553 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period: Net investment income $ 70,984 70,984 — — — — Benefits and expenses — — 70,984 (2,350) (4,076) 64,558 Total $ 70,984 70,984 70,984 (2,350) (4,076) 64,558 December 31, 2019 Assets Other Liabilities Derivatives, Index Options Total Assets Policyholder Account Balances Share-based Comp Contingent Consideration Total Other Liabilities (In thousands) Beginning balance, January 1, 2019 $ 14,684 14,684 44,781 11,923 — 56,704 Total realized and unrealized gains (losses): Included in net earnings 123,207 123,207 91,424 2,306 376 94,106 Included in other comprehensive income — — — — — — Purchases, sales, issuances and settlements, net: Purchases 76,928 76,928 76,928 — — 76,928 Sales — — — — — — Issuances — — — 115 3,700 3,815 Settlements (57,231) (57,231) (57,231) (3,119) — (60,350) Transfers into (out of) Level 3 — — — — — — Balance at end of period $ 157,588 157,588 155,902 11,225 4,076 171,203 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period: Net investment income $ 80,724 80,724 — — — — Benefits and expenses — — 80,724 2,306 376 83,406 Total $ 80,724 80,724 80,724 2,306 376 83,406 The following table presents the valuation method for financial assets and liabilities categorized as level 3, as well as the unobservable inputs used in the valuation of those financial instruments: December 31, 2020 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands) Assets: Derivatives, index options $ 132,821 Broker prices Implied volatility 12.96% - 53.69% (20.70%) Total assets $ 132,821 Liabilities: Policyholder account balances $ 161,351 Deterministic cash flow model Projected option cost 0.0% - 45.04% (3.27%) Share based compensation 6,202 Black-Scholes model Expected term 1.0 to 9.9 years Expected volatility 33.47% Total liabilities $ 167,553 December 31, 2019 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands) Assets: Derivatives, index options $ 157,588 Broker prices Implied volatility 13.10% - 19.90% (15.25%) Total assets $ 157,588 Liabilities: Policyholder account balances $ 155,902 Deterministic cash flow model Projected option cost 0.0% - 17.55% (3.14%) Share based compensation 11,225 Black-Scholes model Expected term 1.9 to 10 years Expected volatility 22.19% Contingent consideration on businesses acquired 4,076 Probabilistic Method Discount rate 10.0% Projected renewal premium $57.2 - $82.4 million ($71.9) Total liabilities $ 171,203 Realized gains (losses) on debt securities are reported in the Consolidated Statements of Earnings as net investment gains (losses) with liabilities reported as expenses. Unrealized gains (losses) on available-for-sale debt securities are reported as other comprehensive income (loss) within stockholders’ equity of the Consolidated Balance Sheets. The fair value hierarchy classifications are reviewed each reporting period. Reclassification of certain financial assets and liabilities may result based on changes in the observability of valuation attributes. Reclassifications are reported as transfers into and out of Level 3 at the beginning fair value for the reporting period in which the changes occur. GAAP defines fair value, establishes a framework for measuring fair value and requires additional disclosures about fair value measurements. Fair value is based on an exit price, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The objective of a fair value measurement is to determine that price for each financial instrument at each measurement date. GAAP also establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a variety of factors including the type of instrument and the characteristics of instruments. Financial instruments with readily available active quoted prices or those for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. It is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measures. The following methods and assumptions were used in estimating the fair value of financial instruments and liabilities during the periods presented in the Consolidated Financial Statements. Fixed maturity securities. Fair values for debt securities are based on quoted market prices, where available. For securities not actively traded, fair values are estimated using values obtained from various independent pricing services with any adjustments based upon observable data. In the cases where prices are unavailable for these sources, values are estimated by discounting expected future cash flows using a current market rate applicable to the yield, credit quality, and maturity of the investments. Equity securities. Fair values for equity securities are based upon quoted market prices, where available. For equity securities that are not actively traded, estimated values are based on values of comparable issues or audited financial statements of the issuer. Cash and cash equivalents. The carrying amounts reported in the Consolidated Balance Sheets for these instruments approximate their fair values due to the relatively short time between the purchase of the instrument and its expected repayment or maturity. Mortgage and other loans. The fair values of performing mortgage and other loans are estimated by discounting scheduled cash flows through the scheduled maturities of the loans, using interest rates currently being offered for similar loans to borrowers with similar credit ratings. Fair values for significant nonperforming loans are based on recent internal or external appraisals. If appraisals are not available, estimated cash flows are discounted using a rate commensurate with the risk associated with the estimated cash flows. Assumptions regarding credit risk, cash flows, and discount rates are judgmentally determined using available market information and specific borrower information. Policy Loans. Policy loans with fixed interest rates are classified within Level 3. The estimated fair values for these loans are determined using a discounted cash flow model applied to groups of similar policy loans determined by the nature of the underlying insurance liabilities. Cash flow estimates are developed by applying a weighted-average interest rate to the outstanding principal balance of the respective group of policy loans and an estimated average maturity. These cash flows are discounted using current risk-free interest rates with no adjustment for borrower credit risk as these loans are collateralized by the cash surrender value of the underlying insurance policy. Derivatives. Fair values for index (call) options are based on counterparty market prices. The counterparties use market standard valuation methodologies incorporating market inputs for volatility and risk free interest rates in arriving at a fair value for each option contract. Prices are monitored for reasonableness by the Company using analytical tools. There are no performance obligations related to the call options purchased to hedge the Company’s fixed-index life and annuity policy liabilities. Life interest in Libbie Shearn Moody Trust. The fair value of the life interest asset is determined annually based on assumptions as to future distributions from the Trust over the life expectancy of Robert L. Moody, Sr., Chairman Emeritus of the Board of Directors of NWLGI. These estimated cash flows are discounted at a rate consistent with uncertainties relating to the amount and timing of future cash distributions subject to the maximum amount to be received by the Company from life insurance proceeds in the event of Mr. Moody's death. The carrying value or cost basis of the life interest asset is amortized ratably over the remaining expected life of Mr. Moody, updated for changes in expected mortality. Annuity and supplemental contracts. Fair values for the Company's insurance contracts other than annuity contracts are not required to be disclosed. This includes the Company's traditional and universal life products. Fair values for immediate annuities without mortality features are based on the discounted future estimated cash flows using current market interest rates for similar maturities. Fair values for deferred annuities, including fixed-index annuities, are determined using estimated projected future cash flows discounted at the rate that would be required to transfer the liability in an orderly transaction. The fair values of liabilities under all insurance contracts are taken into consideration in the Company's overall management of interest rate risk, which minimizes exposure to changing interest rates through the matching of investment maturities with amounts due under insurance and annuity contracts. Contingent consideration. The fair value of contingent consideration in the acquisition of businesses is valued using a probabilistic method that includes a discounted projection of renewal premiums. The Company utilizes independent third-party pricing services to determine the majority of its fair values of investment securities. The independent pricing services provide quoted market prices when available or otherwise incorporate a variety of observable market data in their valuation techniques including reported trading prices, broker-dealer quotes, bids and offers, benchmark securities, benchmark yields, credit ratings, and other reference data. The Company reviews prices received from service providers for unusual fluctuations to ensure that the prices represent a reasonable estimate of fair value but generally accepts the price identified from the primary pricing service. When quoted market prices in active markets are unavailable, the Company determines fair values using various valuation techniques and models based on a range of observable market inputs including pricing models, quoted market price of publicly traded securities with similar duration and yield, time value, yield curve, prepayment speeds, default rates and discounted cash flow. In most cases, these estimates are determined based on independent third party valuation information, and the amounts are disclosed in Level 2 of the fair value hierarchy. Generally, the Company obtains a single price or quote per instrument from independent third parties to assist in establishing the fair value of these investments. Fair value measurements for investment securities where there exists limited or no observable data are calculated using the Company’s own estimates based on current interest rates, credit spreads, liquidity premium or discount, the economic and competitive environment, unique characteristics of the security and other pertinent factors. These estimates are derived a number of ways including, but not limited to, pricing provided by brokers where the price indicates reliability as to value, fair values of comparable securities incorporating a spread adjustment (for maturity differences, credit quality, liquidity, and collateralization), discounted cash flow models and margin spreads, bond yield curves, and observable market prices and exchange transaction information not provided by external pricing services. The resulting prices may not be realized in an actual sale or immediate settlement and there may be inherent weaknesses in any calculation technique. In addition, changes in underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results of current or future values. The following table presents, by pricing source and fair value hierarchy level, the Company’s assets that are measured at fair value on a recurring basis: December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available-for-sale: Priced by third-party vendors $ 10,770,923 — 10,770,923 — Priced internally — — — — Subtotal 10,770,923 — 10,770,923 — Equity securities: Priced by third-party vendors 17,744 17,744 — — Priced internally — — — — Subtotal 17,744 17,744 — — Derivatives, index options: Priced by third-party vendors 132,821 — — 132,821 Priced internally — — — — Subtotal 132,821 — — 132,821 Total $ 10,921,488 17,744 10,770,923 132,821 Percent of total 100.0 % 0.2 % 98.6 % 1.2 % The carrying amounts and fair values of the Company's financial instruments are as follows: December 31, 2020 Fair Value Hierarchy Level Carrying Fair Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities, available-for-sale $ 10,770,923 10,770,923 — 10,770,923 — Cash and cash equivalents 581,059 581,059 581,059 — — Mortgage loans 332,521 348,175 — — 348,175 Real estate 33,783 48,577 — — 48,577 Policy loans 74,083 121,260 — — 121,260 Other loans 23,396 23,691 — — 23,691 Derivatives, index options 132,821 132,821 — — 132,821 Equity securities 17,744 17,744 17,744 — — Life interest in Libbie Shearn Moody Trust 9,083 12,775 — — 12,775 Other invested assets 4,513 22,580 — 22,580 LIABILITIES Deferred annuity contracts $ 6,662,730 5,192,663 — — 5,192,663 Immediate annuity and supplemental contracts 412,526 467,538 — — 467,538 Contingent consideration on businesses acquired — — — — — December 31, 2019 Fair Value Hierarchy Level Carrying Fair Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities, held-to-maturity $ 7,106,245 7,407,703 — 7,407,703 — Debt securities, available-for-sale 3,356,945 3,356,945 — 3,356,945 — Cash and cash equivalents 253,524 253,524 253,524 — — Mortgage loans 272,422 270,931 — — 270,931 Real Estate 34,588 57,204 — — 57,204 Policy loans 80,008 123,650 — — 123,650 Other loans 13,547 13,698 — — 13,698 Derivatives, index options 157,588 157,588 — — 157,588 Equity Securities 23,594 23,594 23,594 — — Life interest in Libbie Shearn Moody Trust 9,230 12,775 — — 12,775 Other invested assets 197 16,182 2 — 16,180 LIABILITIES Deferred annuity contracts (1) $ 7,014,833 5,931,352 — — 5,931,352 Immediate annuity and supplemental contracts 400,465 422,931 — — 422,931 Contingent consideration on businesses acquired 4,076 4,076 — — 4,076 (1) Revised for an adjustment related to reserve liabilities of $15.0 million. See Note (1). Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instruments. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for a portion of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Reinsurance	REINSURANCENational Western reinsures the risk on any one life in excess of $500,000. Total life insurance in force was $15.9 billion and $17.1 billion at December 31, 2020 and 2019, respectively. Of these amounts, life insurance in force totaling $3.5 billion and $3.7 billion was ceded to reinsurance companies on a yearly renewable term basis at December 31, 2020 and 2019, respectively. In accordance with these reinsurance contracts, reinsurance receivables, including amounts related to claims incurred but not reported and liabilities for future policy benefits, totaled $8.6 million and $20.7 million at December 31, 2020 and 2019, respectively. Premiums and contract revenues were reduced by $21.0 million, $21.1 million and $20.8 million for reinsurance premiums ceded during 2020, 2019 and 2018, respectively. Benefit expenses were reduced by $8.4 million, $22.0 million and $31.2 million, for reinsurance recoveries during 2020, 2019 and 2018, respectively. In addition to the above, on December 31, 2020, National Western entered into a Funds Withheld Coinsurance Agreement ("FWC Agreement") with Prosperity Life Assurance Limited ("Prosperity"), an unauthorized reinsurer organized under the Laws of Bermuda. Under the FWC Agreement, National Western ceded, on a coinsurance with funds withheld basis, a 100% quota share of contractual statutory reserve liabilities approximating $1.7 billion pertaining to a group of in force fixed rate and payout annuity contracts issued by the company on or before December 31, 2020, and paid to Prosperity a ceding commission of $48.0 million. At December 31, 2020, the Company held a reinsurance recoverable of $1.7 billion under the Agreement. The annuity statutory reserve liabilities that have been ceded to Prosperity are secured by the funds withheld assets and a comfort trust established by Prosperity under which National Western is the sole beneficiary. The funds withheld assets and the assets in the trust are required to remain at a value prescribed under the FWC Agreement which is sufficient to support the current balance of policy benefit liabilities of the ceded business on a statutory basis. If the value of the funds withheld assets and the comfort trust account assets were ever to be less than the prescribed amount under the FWC Agreement, Prosperity is required to deposit funds into the trust for the amount of any shortfall. At December 31, 2020, the Company has recorded as an asset on the Consolidated Balance Sheet a deferred cost of reinsurance amount of $102.8 million associated with the funds withheld reinsurance transaction. This represents the amount of assets transferred at the closing date of the FWC Agreement (debt securities, policy loans, and cash) in excess of the GAAP liability ceded to Prosperity. This balance will be amortized going forward as a component of benefits and expenses commensurate with the runoff of the ceded block of funds withheld business. Ozark National generally reinsures the risk on any one life in excess of $200,000. Total life insurance in force was $6.0 billion and $6.2 billion at December 31, 2020 and 2019, respectively. Of this amount, life insurance in force totaling $0.5 billion and $0.5 billion was ceded to reinsurance companies at December 31, 2020 and 2019, respectively. In accordance with the reinsurance contracts, reinsurance receivables, including amounts related to claims incurred but not reported and liabilities for future policy benefits, totaled $33.1 million and $21.7 million at December 31, 2020 and 2019, respectively. Premiums and contract revenues were reduced by $2.7 million and $2.5 million for reinsurance premiums ceded during 2020 and 2019, respectively. Benefit expenses were reduced by $2.6 million and $2.2 million for reinsurance recoveries during 2020 and 2019, respectively. A contingent liability exists with respect to reinsurance, as the Company remains liable if the reinsurance companies are unable to perform and meet their obligations under the existing agreements. The Company does not assume reinsurance but Ozark National maintains a closed block of assumed reinsurance. As discussed in Note (1) Summary of Significant Accounting Policies , the Company adopted ASU 2016-13 pertaining to the recognition and measurement of credit losses on most financial assets. For a reinsurance agreement to qualify for reinsurance accounting, it must meet certain risk transfer conditions that include the possibility of financial loss by the assuming reinsurer. The Company records, among other items, amounts recoverable under reinsurance agreements which is a financial asset subject to the credit loss requirements of ASU 2016-13. The Company's credit loss analysis included historical loss information, historical credit rating data, and existing collateral arrangements to estimate expected credit losses over the life of the reinsurance recoverable assets and determined that an allowance was not required at December 31, 2020.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired	DEFERRED POLICY ACQUISITION COSTS, DEFERRED SALES INDUCEMENTS, AND VALUE OF BUSINESS ACQUIRED A summary of information related to DPAC is provided in the following table: Years Ended December 31, 2020 2019 2018 (In thousands) Balance, beginning of year $ 723,972 841,704 819,511 Deferrals 69,857 64,824 84,094 Amortization, net of interest: Amortization, excluding unlocking, net of interest (107,917) (117,748) (115,721) Unlocking (22,358) 8,643 950 Adjustments related to unrealized gains (losses) (261,186) (73,451) 52,870 Reinsurance (20,288) — — Balance, end of year $ 382,080 723,972 841,704 A summary of information related to DSI is provided in the following table: Years Ended December 31, 2020 2019 2018 (In thousands) Balance, beginning of year $ 104,359 133,714 135,570 Deferrals 10,344 3,160 7,546 Amortization, net of interest: Amortization, excluding unlocking, net of interest (22,808) (19,714) (21,569) Unlocking — (641) 1,270 Adjustments related to unrealized gains (losses) (43,557) (12,160) 10,897 Reinsurance (4,493) — — Balance, end of year $ 43,845 104,359 133,714 Changes in VOBA were as follows: Years Ended December 31, 2020 2019 (In thousands) Balance, beginning of year $ 138,071 — Business acquired — 145,768 Other increase 35,125 — Amortization: Amortization, excluding unlocking (10,228) (7,697) Balance as of end of year $ 162,968 138,071 During the year ended December 31, 2020, the cash value of certain acquired reserves was increased which resulted in a commensurate increase in both the traditional life reserve liability and the related VOBA balance reported on the Consolidated Balance Sheets. Estimated future amortization of VOBA, net of interest (in thousands), as of December 31, 2020, was as follows: 2021 $ 9,707 2022 9,214 2023 8,786 2024 8,402 2025 8,070

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS Effective January 31, 2019, the Company acquired Ozark National and NIS following the receipt of regulatory approvals. NWLGI and National Western paid cash in an aggregate amount of approximately $205.4 million in exchange for all of the outstanding stock of Ozark National (wholly owned by National Western) and NIS (wholly owned by NWLGI). In addition to the cash price paid, National Western recorded a contingent liability for an "earn-out payment" based upon the subsequent persistency of Ozark National's acquired in force business achieving thresholds as specified in the Stock Purchase Agreement ("Agreement"). The earn-out payment to the seller per the Agreement had a maximum limit of $5.0 million. Using a probabilistic method for valuing contingent consideration, the Company at January 31, 2019 recorded a liability of $3.7 million representing the estimated fair value of the additional consideration estimated to be paid as part of the acquisition. The contingent consideration was revalued during the earn-out term using the same probabilistic method and had a fair value of $4.1 million as of December 31, 2019. Changes in fair value during the year ended December 31, 2019 were recorded through Other operating expenses. During 2020, the Company and the Seller executed an agreement under which the parties agreed that the Company had fulfilled its payment obligation under the Stock Purchase Agreement executed October 3, 2018. As a result, the Company reversed the contingent earn-out liability balance of $4.2 million recorded at that time and reflected this amount in Other revenues. In addition to the purchase price, the Company incurred $3.3 million of acquisition-related costs in 2019, and an additional $1.0 million in acquisition-related costs during the year ended December 31, 2018. In accordance with GAAP, these costs are included in Other operating expenses in the Consolidated Statements of Earnings and are not considered a part of the purchase price. The acquisition has been accounted for in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations . Purchase accounting, as defined by ASC 805, requires that the assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The fair values shown below were determined based on management’s best estimates, employing fair valuation methodologies commonly utilized in preparing financial statements in accordance with GAAP, and are subject to revision for one year following the acquisition date. The excess of the purchase price paid above net tangible assets acquired has been assigned to identifiable intangible assets and goodwill. During the year ended December 31, 2020, the cash value of certain acquired reserves was increased which resulted in a commensurate increase in both the traditional life reserve liability and the related VOBA balance reported on the Consolidated Balance Sheets. The following table presents the fair values of the net assets acquired as of January 31, 2019. January 31, 2019 Assets Fair value (In thousands) Debt securities held to maturity $ 261,059 Debt securities available for sale 400,719 Policy loans 28,128 Real estate 4,600 Cash and cash equivalents 16,275 Accrued investment income 6,116 Value of business acquired 145,768 Reinsurance recoverables 21,895 Other intangible assets 9,600 Other assets acquired 12,075 Total assets acquired 906,235 Liabilities Traditional life reserves 691,297 Other policyholder liabilities 13,867 Other liabilities acquired 5,840 711,004 Net identifiable assets acquired 195,231 Goodwill 13,864 Net assets acquired $ 209,095 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented in the acquisition above. Debt securities - The fair value of debt securities acquired was calculated using a market approach that utilizes prices and other relevant information generated by market transactions involving identical or comparable securities as provided by third party pricing services. Policy loans - The fair value of policy loans acquired was calculated using a present value calculation of discounted cash flow model applied to groups of similar policy loans determined by the nature of the underlying insurance liabilities. Cash flows were discounted using current risk-free interest rates consistent with fair value calculations used for National Western’s policy loans. Real estate - The fair value of the investment real estate acquired was determined using the sales comparison approach which compares market information for similar properties based on relevant, market-derived elements of comparison. Cash and cash equivalents - The fair value of cash and cash equivalents acquired approximated their carrying values at the time of acquisition. Other assets acquired - The fair value of certain receivables, guaranty assessment assets, and reinsurance recoverable were determined to approximate their carrying values at the time of acquisition. The fair value of tangible home office property acquired was determined using mostly a sales comparison approach which compares market information for similar properties based on relevant, market-derived elements of comparison. Goodwill and Specifically Identifiable Intangible Assets Goodwill The changes in the carrying amount of goodwill (in thousands) were as follows: Year Ended December 31, 2020 2019 (In thousands) Gross goodwill as of beginning of year $ 13,864 — Goodwill resulting from business acquisition — 13,864 Gross goodwill, before impairments 13,864 13,864 Accumulated impairment as of beginning of year — — Current year impairments — — Net goodwill as of end of year $ 13,864 13,864 Due to the severe change in economic climate during 2020 as a result of the COVID-19 pandemic, the Company periodically evaluated the goodwill balance for potential impairment and determined that there was sufficient evidence to support not impairing the balance. Identifiable Intangible Assets The following table presents the fair value of identifiable intangible assets acquired at January 31, 2019: Fair Value Weighted-Average Amortization Period (In thousands) Trademarks / trade names $ 2,800 15 Internally developed software 3,800 7 Insurance licenses 3,000 NA Total identifiable intangible assets $ 9,600 The gross carrying amounts and accumulated amortization for each specifically identifiable intangible asset were as follows. December 31, 2020 December 31, 2019 Weighted-Average Amortization Period Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Trademarks/trade names 15 $ 2,800 (358) 2,800 (171) Internally developed software 7 3,800 (1,040) 3,800 (498) Insurance licenses N/A 3,000 — 3,000 — $ 9,600 (1,398) 9,600 (669) The value of trademarks was estimated using the relief from royalty method, based on the assumption that in lieu of ownership, an organization would be willing to pay a royalty in order to receive the related benefits of using the brand. The value of insurance licenses was estimated using the market approach to value, based on values paid for licenses in recent shell company transactions. The value of internally developed software was estimated using the replacement cost method. Trademarks, trade names and internally developed software are amortized using a straight-line method over their estimated useful lives. These intangibles assets will be evaluated for impairment if indicators of impairment arise. Insurance licenses were determined to have an indefinite useful life. The Company evaluates the useful life of the insurance licenses at each reporting period to determine whether the useful life remains indefinite. As of December 31, 2020, expected amortization expenses relating to purchased intangible assets for each of the next 5 years and thereafter is as follows: Expected Amortization (In thousands) 2021 $ 730 2022 730 2023 730 2024 730 2025 730 Thereafter 1,552 $ 5,202 Financial Information For the year ended December 31, 2019, Ozark National and NIS combined total revenues of $106.2 million and net earnings of $17.1 million for the eleven months subsequent to January 31, 2019 were included in the Consolidated Statements of Earnings. These results for segment reporting purposes are combined in the Acquired Businesses segment. The following unaudited comparative pro forma total revenues and net earnings represent Consolidated Results of Operations for the Company which assume amounts estimated had the acquisition of Ozark National and NIS been effective January 1, 2018. Pro forma results of operations include estimated revenue and net earnings of the acquired businesses for each period, as well as the amortization of identifiable intangible assets and fair value adjustments of acquired invested assets and traditional life insurance reserves as proxy to illustrate comparative yearly performance. The proxy was determined by using the ratio of the 2019 results of operations and the number of months since acquisition. Years Ended December 31, 2019 2018 (In thousands) Total revenues $ 828,846 667,392 Net earnings $ 133,175 134,858

Segment and Other Operating Inf

Segment and Other Operating Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment and Other Operating Information	SEGMENT AND OTHER OPERATING INFORMATION (A) Operating Segment Information The Company defines its reportable operating segments as domestic life insurance, international life insurance, annuities, and acquired businesses. These segments are organized based on product types, geographic marketing areas, and business groupings. Ozark National and NIS have been combined into the segment "Acquired Businesses" given its inter-related marketing and sales approach which consists of a coordinated sale of a non-participating whole life insurance product (Ozark National) and a mutual fund investment product (NIS). A fifth category "All Others" primarily includes investments and earnings of non-operating subsidiaries as well as other remaining investments and assets not otherwise supporting specific segment operations. In accordance with GAAP guidance for segment reporting, the Company excludes or segregates realized investment gains and losses. A summary of segment information is provided below. Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) 2020: Selected Balance Sheet Items: Deferred policy acquisition costs, sales inducements, and value of business acquired $ 94,100 124,480 199,557 170,756 — 588,893 Total segment assets 3,242,794 1,034,280 7,976,588 1,117,509 382,149 13,753,320 Future policy benefits 1,337,174 798,952 7,028,860 768,433 — 9,933,419 Other policyholder liabilities 16,378 11,086 94,049 16,967 — 138,480 Condensed Income Statements: Premiums and contract revenues $ 53,834 88,167 17,025 78,921 — 237,947 Net investment income 54,516 27,273 290,576 26,383 18,454 417,202 Other revenues 58 67 43 10,118 8,236 18,522 Total revenues 108,408 115,507 307,644 115,422 26,690 673,671 Life and other policy benefits 18,471 14,084 31,043 67,739 — 131,337 Amortization of deferred policy acquisition costs and value of business acquired 17,661 24,929 87,133 10,780 — 140,503 Universal life and annuity contract interest 44,782 (2,087) 163,555 — — 206,250 Other operating expenses 25,730 17,829 36,870 18,454 5,701 104,584 Federal income taxes (benefit) 265 9,143 (1,649) 4,413 3,159 15,331 Total expenses 106,909 63,898 316,952 101,386 8,860 598,005 Segment earnings (loss) $ 1,499 51,609 (9,308) 14,036 17,830 75,666 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) 2019: Selected Balance Sheet Items: Deferred policy acquisition costs, sales inducements, and value of business acquired $ 127,557 209,858 486,553 142,434 — 966,402 Total segment assets 1,399,818 1,153,105 8,198,730 978,243 362,900 12,092,796 Future policy benefits (1) 1,198,103 870,461 7,366,894 706,513 — 10,141,971 Other policyholder liabilities 18,016 14,903 80,002 14,686 — 127,607 Condensed Income Statements: Premiums and contract revenues $ 45,709 99,417 20,317 74,526 — 239,969 Net investment income 77,672 47,004 380,357 22,593 27,866 555,492 Other revenues 313 86 (34) 8,445 8,676 17,486 Total revenues 123,694 146,507 400,640 105,564 36,542 812,947 Life and other policy benefits 18,948 17,064 41,487 59,843 — 137,342 Amortization of deferred policy acquisition costs and value of business acquired 11,797 17,593 79,064 8,348 — 116,802 Universal life and annuity contract interest 69,849 48,561 176,920 — — 295,330 Other operating expenses 20,376 19,447 35,699 17,056 11,980 104,558 Federal income taxes (benefit) 561 9,024 13,888 3,700 5,056 32,229 Total expenses 121,531 111,689 347,058 88,947 17,036 686,261 Segment earnings (loss) $ 2,163 34,818 53,582 16,617 19,506 126,686 (1) Revised for an adjustment to reserve liabilities of $15.0 million. Refer to Note (1). Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) 2018: Selected Balance Sheet Items: Deferred policy acquisition costs and sales inducements $ 122,661 243,518 609,239 — 975,418 Total segment assets 1,215,864 1,211,036 8,791,463 370,118 11,588,481 Future policy benefits 1,039,150 894,891 7,810,245 — 9,744,286 Other policyholder liabilities 17,439 20,381 97,874 — 135,694 Condensed Income Statements: Premiums and contract revenues $ 40,879 108,923 23,694 — 173,496 Net investment income 23,579 22,603 276,123 26,772 349,077 Other revenues 19 87 66 20,431 20,603 Total revenues 64,477 131,613 299,883 47,203 543,176 Life and other policy benefits 21,688 22,333 21,276 — 65,297 Amortization of deferred policy acquisition costs 11,539 24,358 78,874 — 114,771 Universal life and annuity contract interest 8,826 24,590 102,639 — 136,055 Other operating expenses 20,731 19,593 32,584 21,061 93,969 Federal income taxes (benefit) 292 7,035 11,139 4,514 22,980 Total expenses 63,076 97,909 246,512 25,575 433,072 Segment earnings (loss) $ 1,401 33,704 53,371 21,628 110,104 Reconciliations of segment information to the Company's Consolidated Financial Statements are provided below. Years Ended December 31, 2020 2019 2018 (In thousands) Premiums and Other Revenue : Premiums and contract revenues $ 237,947 239,969 173,496 Net investment income 417,202 555,492 349,077 Other revenues 18,522 17,486 20,603 Realized gains on investments 21,071 6,241 8,423 Total consolidated premiums and other revenue $ 694,742 819,188 551,599 Years Ended December 31, 2020 2019 2018 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 15,331 32,229 22,980 Taxes on realized gains on investments 4,425 1,311 1,769 Total consolidated Federal income taxes $ 19,756 33,540 24,749 Years Ended December 31, 2020 2019 2018 (In thousands) Net Earnings : Total segment earnings $ 75,666 126,686 110,104 Realized gains on investments, net of taxes 16,646 4,930 6,654 Total consolidated net earnings $ 92,312 131,616 116,758 December 31, 2020 2019 2018 (In thousands) Assets : Total segment assets $ 13,753,320 12,092,796 11,588,481 Other unallocated assets 894,950 460,651 343,210 Total consolidated assets $ 14,648,270 12,553,447 11,931,691 (B) Geographic Information A portion of the Company's premiums and contract revenues are from international policies with residents of countries other than the United States. Premiums and contract revenues detailed by country are provided below. Years Ended December 31, 2020 2019 2018 (In thousands) United States $ 165,233 156,330 82,614 Brazil 22,190 24,975 27,280 Taiwan 11,433 12,054 14,414 Venezuela 9,949 11,763 12,864 Peru 9,167 10,127 10,969 Chile 7,024 8,122 8,769 Other foreign countries 36,637 40,217 37,346 Revenues, excluding reinsurance premiums 261,633 263,588 194,256 Reinsurance premiums (23,686) (23,619) (20,760) Total premiums and contract revenues $ 237,947 239,969 173,496 Premiums and contract revenues are attributed to countries based on the location of the policyholder. The Company has no significant assets, other than certain limited financial instruments, located in countries other than the United States. (C) Major Agency Relationships A portion exceeding 10% of National Western's annual annuity sales has been sold through one or more of its top independent marketing agencies in recent years. Business from two top agencies accounted for approximately 15% and 11%, respectively, of annuity sales in 2020. In 2020, one domestic independent marketing agency exceeded 10% of total Domestic Life sales accounting for 55%. Ozark National did not have a single distributor accounting for 10% or more of its sales in 2020.

Statutory Information

Statutory Information	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Statutory Information	STATUTORY INFORMATION Domiciled in Colorado, National Western prepares its statutory financial statements in accordance with accounting practices prescribed or permitted by the Colorado Division of Insurance, while Ozark National, domiciled in Missouri, follows the accounting practices prescribed or permitted by the Missouri Department of Commerce and Insurance. These insurance departments have adopted the provisions of the National Association of Insurance Commissioners' ("NAIC") Statutory Accounting Practices (“SSAP”) as the basis for its statutory accounting practices. The following are major differences between GAAP and SSAP. 1. The Company accounts for universal life and annuity contracts based on the provisions of GAAP. The basic difference between GAAP and SSAP with respect to certain long-duration contracts is that deposits for universal life and annuity contracts are not reflected as revenues, and surrenders and certain other benefit payments are not reflected as expenses. Only contracts with no insurance risk qualify for such treatment under statutory accounting practices. For all other contracts, SSAP does reflect such items as revenues and expenses. A summary of direct premiums and deposits collected is provided below. Years Ended December 31, 2020 2019 2018 (In thousands) Annuity deposits $ 358,900 264,667 411,208 Universal life insurance deposits 267,809 266,600 278,971 Traditional life and other premiums 98,711 95,695 21,561 Totals $ 725,420 626,962 711,740 2. SSAP requires commissions and related acquisition costs to be expensed as incurred, whereas under GAAP these items are deferred and amortized. 3. For SSAP, liabilities for future policy benefits for life insurance policies are calculated by the net level premium method, the commissioners reserve valuation method, or principles-based reserving under VM-20. Future policy benefit liabilities for annuities are calculated based on the continuous commissioners annuity reserve valuation method and provisions of Actuarial Guidelines 33 and 35. 4. Deferred Federal income taxes are provided for temporary differences which are recognized in the Consolidated Financial Statements in a different period than for Federal income tax purposes. Deferred taxes are also recognized under SSAP; however, there are limitations as to the amount of deferred tax assets that may be reported as admitted assets. The change in the deferred taxes is recorded directly in surplus, rather than as a component of income tax expense. 5. For SSAP, debt securities are recorded at amortized cost, except for securities in or near default, which are reported at fair value. Under GAAP, debt securities are carried at amortized cost or fair value based on their classification as either held-to-maturity, available-for-sale, or trading. 6. Investments in subsidiaries are recorded as affiliated common stock investments at their respective SSAP investment value under statutory accounting, whereas the financial statements of the subsidiaries have been consolidated with those of the Company under GAAP. 7. The asset valuation reserve and interest maintenance reserve, which are investment valuation reserves prescribed by SSAP, have been eliminated, as they are not required under GAAP. 8. The table below provides the National Western and Ozark National net gain from operations, net income, unassigned surplus (retained earnings) and capital and surplus (stockholders' equity), on the statutory basis used to report to regulatory authorities for the years ended December 31. 2020 2019 2018 (In thousands) National Western Life Insurance Company: Net gain from operations before Federal and foreign income taxes $ 36,970 209,139 27,359 Net income $ 42,034 151,316 31,296 Unassigned surplus $ 1,461,100 1,485,424 1,374,963 Capital and surplus $ 1,505,163 1,529,487 1,419,026 Ozark National Life Insurance Company: Net gain from operations before Federal and foreign income taxes $ 24,976 22,870 — Net income $ 20,966 (854) — Unassigned surplus $ 50,054 29,452 — Capital and surplus $ 78,009 58,404 —

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share of common stock are computed by dividing net earnings available to each class of common stockholders on an as if distributed basis by the weighted-average number of common shares outstanding for the period. Diluted earnings per share, by definition, reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock, that then shared in the distributed earnings of each class of common stock. U.S. GAAP requires a two-class presentation for the Company’s two classes of common stock (refer to Note (13) Information Regarding Controlling Stockholder ). The Company currently has no share-based compensation awards outstanding that could be redeemed for shares of common stock. Net earnings for the periods shown below are allocated between Class A shares and Class B shares based upon (1) the proportionate number of shares issued and outstanding as of the end of the period, and (2) the per share dividend rights of the two classes under the Company's Restated Certificate of Incorporation (the Class B dividend per share is equal to one-half the Class A dividend per share). Years Ended December 31, 2020 2019 2018 Class A Class B Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net earnings $ 92,312 131,616 116,758 Dividends – Class A shares (1,237) (1,237) (1,237) Dividends – Class B shares (36) (36) (36) Undistributed earnings $ 91,039 130,343 115,485 Allocation of net earnings: Dividends $ 1,237 36 1,237 36 1,237 36 Allocation of undistributed earnings 88,464 2,575 126,657 3,686 112,219 3,266 Net earnings $ 89,701 2,611 127,894 3,722 113,456 3,302 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,436 200 3,436 200 Effect of dilutive stock options — — — — — — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,436 200 3,436 200 3,436 200 Basic earnings per share $ 26.11 13.05 37.22 18.61 33.02 16.51 Diluted earnings per share $ 26.11 13.05 37.22 18.61 33.02 16.51

Comprehensive Income

Comprehensive Income	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Comprehensive Income	COMPREHENSIVE INCOMEGAAP guidance requires that all items recognized under accounting standards as components of comprehensive income (loss) be reported in a financial statement that is displayed with the same prominence as other financial statements. This guidance requires that an enterprise (a) classify items of other comprehensive income by their nature in a financial statement and (b) display the accumulated balance of other comprehensive income (loss) separately from retained earnings and additional paid-in capital in the equity section of a statement of financial position. This guidance affects the Company's reporting presentation of certain items such as foreign currency translation adjustments, unrealized gains and losses on investment securities, and benefit plan liabilities. These items are reflected as components of other comprehensive income (loss), net of taxes, as reported in the accompanying Consolidated Financial Statements. Components of other comprehensive income (loss) for 2020, 2019 and 2018 and the related tax effect are detailed below. Amounts Before Taxes Tax (Expense) Amounts Net of Taxes (In thousands) 2020: Unrealized gains on securities, net of effects of deferred costs of $(304,955): Net unrealized holding gains (losses) arising during the period $ 446,280 (93,719) 352,561 Unrealized liquidity gains (losses) 8 (2) 6 Reclassification adjustment for net (gains) losses included in net earnings (5,677) 1,192 (4,485) Amortization of net unrealized gains (losses) related to transferred securities — — — Net unrealized gains (losses) on securities 440,611 (92,529) 348,082 Foreign currency translation adjustments 18 (4) 14 Benefit plan liability adjustment (16,182) 3,398 (12,784) Other comprehensive income (loss) $ 424,447 (89,135) 335,312 Amounts Before Taxes Tax (Expense) Benefit Amounts Net of Taxes (In thousands) 2019: Unrealized gains on securities, net of effects of deferred costs of $(85,609): Net unrealized holding gains (losses) arising during the period $ 122,726 (25,772) 96,954 Unrealized liquidity gains (losses) 4 (1) 3 Reclassification adjustment for net (gains) losses included in net earnings 5,060 (1,063) 3,997 Amortization of net unrealized gains (losses) related to transferred securities — — — Net unrealized gains (losses) on securities 127,790 (26,836) 100,954 Foreign currency translation adjustments 663 (139) 524 Benefit plan liability adjustment (5,513) 1,158 (4,355) Other comprehensive income (loss) $ 122,940 (25,817) 97,123 Amounts Before Taxes Tax (Expense) Benefit Amounts Net of Taxes (In thousands) 2018: Unrealized gains on securities, net of effects of deferred costs of $63,816: Net unrealized holding gains (losses) arising during the period $ (71,921) 15,103 (56,818) Unrealized liquidity gains (losses) 3 (1) 2 Reclassification adjustment for net (gains) losses included in net earnings (3,441) 723 (2,718) Amortization of net unrealized gains (losses) related to transferred securities — — — Net unrealized gains (losses) on securities (75,359) 15,825 (59,534) Foreign currency translation adjustments 1,714 (360) 1,354 Benefit plan liability adjustment 14,301 (3,003) 11,298 Other comprehensive income (loss) $ (59,344) 12,462 (46,882)

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY (A) Changes in Common Stock Shares Outstanding Changes in shares of common stock outstanding are provided below. Years Ended December 31, 2020 2019 2018 (In thousands) Common stock shares outstanding: Shares outstanding at beginning of year 3,636 3,636 3,636 Shares exercised under stock option plan — — — Shares outstanding at end of year 3,636 3,636 3,636 (B) Dividend Restrictions National Western is restricted by state insurance laws as to dividend amounts which may be paid to stockholders without prior approval from the Colorado Division of Insurance. The restrictions are based on the lesser of statutory earnings from operations, excluding capital gains, or 10% of statutory surplus as of the previous year-end. Under these guidelines, the maximum dividend payment which may be made without prior approval in 2021 is $45.5 million. As the sole owner of NWLIC, all dividends declared by National Western are payable entirely to NWLGI and are eliminated in consolidation. Ozark National is similarly restricted under the state insurance laws of Missouri as to dividend amounts which may be paid to stockholders without prior approval to the greater of 10% of the statutory surplus of the company from the preceding year-end or the company's net gain from operations, excluding capital gains, from the prior calendar year. Based upon this restriction, the maximum dividend payment which may be made in 2021 without prior approval is $21.0 million. As part of the Stock Purchase Agreement dated October 3, 2018, by and between NWLIC and Ozark National's previous owner, the Missouri Department of Commerce and Insurance granted approval for an extraordinary dividend of $102.7 million to be paid to the prior owner concurrent with the closing of the transaction effective January 31, 2019. All dividends declared by Ozark National thereafter are payable entirely to NWLIC as the sole owner and are eliminated in consolidation. NIS is restricted under FINRA rules as to maximum dividend amounts that can be paid out to stockholders. Maximum allowable dividend amounts are determined based on calculations which require that certain net capital thresholds be maintained after dividends are paid out. Under these guidelines, the maximum dividend payment which may be made as of December 31, 2020 was $4.5 million. On October 30, 2020, the Board of Directors of NWLGI declared a cash dividend to stockholders on record as of November 5, 2020 which was paid December 1, 2020. The dividends approved were $0.36 per common share to Class A stockholders and $0.18 per common share to Class B stockholders. A dividend in the same amounts per share on Class A and Class B shares was declared in October 2019 and paid in December of 2019. National Western did not declare or pay cash dividends to NWLGI during the year ended December 31, 2020. In the first quarter of 2019, National Western declared and paid a $32.0 million dividend to NWLGI, the proceeds of which were used as part of the cash purchase of NIS. National Western also declared a $4.0 million ordinary cash dividend to NWLGI which was paid out in October 2019. Dividends paid from National Western to NWLGI are eliminated in consolidation. (C) Regulatory Capital Requirements The Colorado Division of Insurance and Missouri Department of Commerce and Insurance impose minimum risk-based capital requirements on insurance companies that were developed by the National Association of Insurance Commissioners ("NAIC"). The formulas for determining the amount of risk-based capital ("RBC") specify various weighting factors that are applied to statutory financial balances or various levels of activity based on the perceived degree of risk. Regulatory compliance is determined by a ratio of a company's regulatory total adjusted capital to its authorized control level RBC, as defined by the NAIC. Companies below specific trigger points or ratios are classified within certain levels, each of which requires specified corrective action. National Western's current authorized control level RBC of $103.2 million is significantly below its regulatory total adjusted capital of $1.6 billion. In addition, Ozark National's regulatory total adjusted capital of $81.4 million is also materially greater than its current authorized control level RBC of $7.1 million. (D) Share-Based Payments Effective June 20, 2008, the Company's shareholders approved a 2008 Incentive Plan (“2008 Plan”) which provided for the grant of any or all of the following types of awards to eligible employees: (1) stock options, including incentive stock options and nonqualified stock options; (2) stock appreciation rights ("SARs"), in tandem with stock options or freestanding; (3) restricted stock or restricted stock units; and (4) performance awards. The number of shares of Class A, $1.00 par value, common stock which were allowed to be issued under the plan, or as to which SARs or other awards were allowed to be granted, could not exceed 300,000. This plan was assumed by NWLGI from National Western pursuant to the terms of the holding company reorganization in 2015. On June 15, 2016, stockholders of NWLGI approved an amended and restated 2008 Plan ("Incentive Plan"), which extended the term of the 2008 Plan for ten years from the date of stockholder approval. The Incentive Plan includes additional provisions, most notably regarding the definition of performance objectives which could be used in the issuance of the fourth type of award noted above (performance awards). All of the employees of the Company and its subsidiaries are eligible to participate in the current Incentive Plan. In addition, directors of the Company are eligible to receive the same types of awards as employees except that they are not eligible to receive incentive stock options. Company directors, including members of the Compensation and Stock Option Committee, are eligible for nondiscretionary stock options. At the end of 2018, all stock options granted under the 2008 Plan had been exercised, forfeited, or expired. SARs granted prior to 2016 vest 20% annually following three years of service following the grant date. Employee SARs granted in 2016 and forward vest 33.3% annually following one year of service from the date of the grant. Directors' SARs grants vest 20% annually following one year of service from the date of grant. Effective during August 2008, the Company adopted and implemented a limited stock buy-back program with respect to the 2008 Plan which provided stock option holders the additional alternative of selling shares acquired through the exercise of options directly back to the Company. Option holders could elect to sell such acquired shares back to the Company at any time within ninety (90) days after the exercise of options at the prevailing market price as of the date of notice of election. The buy-back program did not alter the terms and conditions of the 2008 Plan. This plan was assumed as well by NWLGI from National Western pursuant to the terms of the holding company reorganization. There are currently no stock options issued and outstanding. The Incentive Plan allows for certain other share or unit awards which are solely paid out in cash based on the value of the Company's shares, or changes therein, as well as the financial performance of the Company under pre-determined target performance metrics. Certain awards, such as restricted stock units ("RSUs") provide solely for cash settlement based upon the market price of the Company's Class A common shares, often referred to as "phantom stock-based awards" in equity compensation plans. Unlike share-settled awards, which have a fixed grant-date fair value, the fair value of unsettled or unvested liability awards is remeasured at the end of each reporting period based on the change in fair value of a share. The liability and corresponding expense are adjusted accordingly until the award is settled. For employees, the vesting period for RSUs is 100% at the end of three years from the grant date. RSUs granted prior to 2019 are payable in cash at the vesting date equal to the closing price of the Company's Class A common share on the three years anniversary date. RSUs granted in 2019 and forward are payable in cash at the three years vesting date equal to the 20-day moving average closing price of the Company's Class A common share at that time. Other awards may involve performance share units ("PSUs") which are units granted at a specified dollar amount per unit, typically linked to the Company's Class A common share price, that are subsequently multiplied by an attained performance factor to derive the number of PSUs to be paid as cash compensation at the vesting date. PSUs also vest three years from the date of grant. For PSUs, the performance period begins the first day of the calendar year for which the PSUs are granted and runs three PSU awards covering the three year measurement period ended December 31, 2018 were paid out in the first quarter of 2019. The performance factor during the measurement period used to determine compensation payouts was 93.86% of the pre-defined metric target. PSU awards covering the three year measurement period ended December 31, 2019 were paid out in the first quarter of 2020. The performance factor during the measurement period used to determine compensation payouts was 101.19% of the pre-defined metric target. Directors of the Company are eligible to receive RSUs under the Incentive Plan. Unlike RSUs granted to officers, the RSUs granted to directors vest one year from the date of grant. RSUs granted prior to 2019 are payable in cash at the vesting date equal to the closing price of the Company's Class A common share at that time. RSUs granted in 2019 and forward are payable in cash at the vesting date equal to the 20-day moving average closing price of the Company’s Class A common share at that time. The following table shows all grants issued to officers and directors for the twelve months ended December 31, 2020 and 2019. These grants were made based upon the 20-day moving average closing market price of the Company's Class A common share at the grant date. Years Ended December 31, 2020 December 31, 2019 Officers Directors Officers Directors SARs 40,990 — 20,380 — RSUs 6,147 3,400 4,195 2,580 PSUs 9,324 — 6,427 — The increase in the number of units awarded in the year ended December 31, 2020 as compared to the prior year reflects the decrease in the grant price of the awards from $252.91 in 2019 to $192.10 in 2020. The Company uses the current fair value method to measure compensation cost for awards granted under the share-based plans. As of December 31, 2020 and 2019, the liability balance for these plans was $6.2 million and $11.2 million, respectively. A summary of awards by type and related activity is detailed below. Options Outstanding Shares Available For Grant Shares Weighted-Average Exercise Price Stock Options: Balance at January 1, 2020 291,000 — $ — Exercised — — $ — Forfeited — — $ — Expired — — $ — Stock options granted — — $ — Balance at December 31, 2020 291,000 — $ — Liability Awards Other Share/Unit Awards: SARs RSUs PSUs Balance at January 1, 2020 107,517 14,352 19,108 Exercised (1,372) (7,191) (4,150) Forfeited (2,887) (259) — Granted 40,990 9,547 9,324 Balance at December 31, 2020 144,248 16,449 24,282 SARs, RSUs, and PSUs shown as forfeited in the above tables represent vested and unvested awards not exercised by plan participants upon their termination from the Company in accordance with the expiration provisions of the awards. The total intrinsic value of share-based compensation exercised was $2.8 million, $3.1 million, and $4.7 million for the years ended December 31, 2020, 2019, and 2018, respectively. The total share-based compensation paid was $2.8 million, $3.1 million, and $4.7 million for the years ended December 31, 2020, 2019, and 2018, respectively. The total fair value of SARs, RSUs, and PSUs vested during the years ended December 31, 2020, 2019, and 2018 was $4.2 million, $4.4 million, and $3.1 million, respectively. No cash amounts were received from the exercise of stock options under the Plans during the periods reported on. The following table summarizes information about SARs outstanding at December 31, 2020. SARs Outstanding Number Outstanding Weighted-Average Remaining Contractual Life Number Exercisable Exercise prices: $132.56 19,118 1.0 year 19,118 $210.22 23,450 2.9 years 23,450 $216.48 11,149 5.1 years 11,149 $311.16 9,531 6.1 years 9,531 $310.55 203 6.3 years 203 $334.34 9,018 7.0 years 9,018 $303.77 11,233 8.0 years 7,483 $252.91 19,556 9.0 years 6,509 $192.10 40,990 9.9 years — Totals 144,248 86,461 Aggregate intrinsic value (in thousands) $ 2,000 $ 1,412 The aggregate intrinsic value in the table above is based on the closing Class A common share price of $206.44 per share on December 31, 2020. In estimating the fair value of SARs outstanding at December 31, 2020 and 2019, the Company employed the Black-Scholes option pricing model with assumptions as detailed below. December 31, 2020 December 31, 2019 Expected term 1.0 to 9.9 years 1.9 to 10.0 years Expected volatility weighted-average 33.47 % 22.19 % Expected dividend yield 0.17 % 0.12 % Risk-free rate weighted-average 0.19 % 1.61 % The Company reviewed the contractual term relative to the SARs as well as perceived future behavior patterns of exercise. Volatility is based on the Company’s historical volatility over the expected term of the SARs by expected exercise date. The pre-tax compensation expense/(benefit) recognized in the Consolidated Financial Statements related to these plans was $(2.2) million, $2.4 million and $1.4 million for the years ended December 31, 2020, 2019 and 2018, respectively. The related tax (benefit)/expense recognized was $0.5 million, $(0.5) million and $(0.3) million for the years ended December 31, 2020, 2019 and 2018, respectively. For the years ended December 31, 2020, 2019 and 2018, the total pre-tax compensation expense related to nonvested share-based awards not yet recognized was $9.1 million, $8.0 million and $7.1 million, respectively. The December 31, 2020 amount is expected to be recognized over a weighted-average period of 1.6 years. The Company recognizes compensation cost over the graded vesting periods.

Information Regarding Controlli

Information Regarding Controlling Stockholder	12 Months Ended
	Dec. 31, 2020
Information Regarding Controlling Stockholder [Abstract]
Information Regarding Controlling Stockholder	INFORMATION REGARDING CONTROLLING STOCKHOLDERRobert L. Moody, Sr., through the Robert L. Moody Revocable Trust controls 99.0% of the total outstanding shares of the Company's Class B common stock as of December 31, 2020. Holders of the Company's Class A common stock elect one-third of the Board of Directors of the Company, and holders of the Class B common stock elect the remainder. Any cash or in-kind dividends paid on each share of Class B common stock are to be only one-half of the cash or in-kind dividends paid on each share of Class A common stock. In the event of liquidation of the Company, the Class A stockholders will receive the par value of their shares; then the Class B stockholders will receive the par value of their shares; and the remaining net assets of the Company shall be divided between the stockholders of both Class A and Class B stock based upon the number of shares held.

Pension and Other Postretiremen

Pension and Other Postretirement Plans	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Pension and Other Postretirement Plans	PENSION AND OTHER POSTRETIREMENT PLANS (A) Defined Benefit Pension Plans National Western sponsors a qualified defined benefit pension plan covering employees enrolled prior to 2008. The plan provides benefits based on the participants' years of service and compensation. The company makes annual contributions to the plan that comply with the minimum funding provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). On October 19, 2007, National Western’s Board of Directors approved an amendment to freeze the pension plan as of December 31, 2007. The freeze ceased future benefit accruals to all participants and closed the plan to any new participants. In addition, all participants became immediately 100% vested in their accrued benefits as of that date. As participants are no longer earning credit for service, future qualified defined benefit plan expense is projected to be minimal. The plan was amended in 2018 to increase the maximum pension value that may be distributed in a lump sum and to decrease the commencement age for in-service distributions by participants. Fair values of plan assets and liabilities are measured as of December 31 for each year. A detail of plan disclosures is provided below. Obligations and Funded Status December 31, 2020 2019 (In thousands) Changes in projected benefit obligations: Projected benefit obligations at beginning of year $ 22,689 21,938 Service cost 107 96 Interest cost 674 839 Plan amendments — — Actuarial (gain) loss 2,153 1,398 Benefits paid (1,696) (1,582) Projected benefit obligations at end of year 23,927 22,689 Changes in plan assets: Fair value of plan assets at beginning of year 18,512 16,169 Actual return on plan assets 2,910 3,356 Contributions 1,107 569 Benefits paid (1,696) (1,582) Fair value of plan assets at end of year 20,833 18,512 Funded status at end of year $ (3,094) (4,177) The service cost shown above for each year represents plan expenses expected to be paid out of plan assets. Under the clarified rules of the Pension Protection Act, plan expenses paid from plan assets are to be included in the plan's service cost component. The Projected Benefit Obligation changed in 2020 due to the following: • An experience loss of approximately $587,000 due to census demographics. • An experience gain of approximately $317,000 due to the change in mortality. • An experience loss of approximately $45,000 due to the difference in expected and actual benefit payments. • An experience loss of approximately $1,838,000 due to the decrease in the discount rate from 3.00% to 2.25%. The Projected Benefit Obligation changed in 2019 due to the following: • An experience gain of approximately $157,000 due to census demographics. • An experience gain of approximately $610,000 due to the change in mortality. • An experience gain of approximately $16,000 due to the difference in expected and actual benefit payments. • An experience loss of approximately $2,181,000 due to the decrease in the discount rate from 4.00% to 3.00%. December 31, 2020 2019 (In thousands) Amounts recognized in the Company's Consolidated Financial Statements: Assets $ — — Liabilities (3,094) (4,177) Net amount recognized $ (3,094) (4,177) Amounts recognized in accumulated other comprehensive income: Net (gain) loss $ 6,826 6,903 Prior service cost — — Net amount recognized $ 6,826 6,903 The accumulated benefit obligation was $23.9 million and $22.7 million at December 31, 2020 and 2019, respectively. Components of Net Periodic Benefit Cost Years Ended December 31, 2020 2019 2018 (In thousands) Components of net periodic benefit costs: Interest cost $ 674 839 899 Service cost 107 96 111 Expected return on plan assets (1,261) (1,086) (1,300) Amortization of net loss (gain) 580 660 524 Net periodic benefit cost 100 509 234 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net loss (gain) 503 (872) Amortization of net loss (gain) (580) (660) Total recognized in other comprehensive income (77) (1,532) Total recognized in net periodic benefit cost and other comprehensive income $ 23 (1,023) The components of net periodic benefit cost including service cost are reported in Other operating expenses in the Consolidated Statement of Earnings. Assumptions December 31, 2020 2019 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.25 % 3.00 % Rate of compensation increase n/a n/a December 31, 2020 2019 2018 Weighted-average assumptions used to determine net periodic benefit cost: Discount rate 3.00 % 4.00 % 3.75 % Expected long-term return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase n/a n/a n/a The assumed long-term rate of return on plan assets is generally set at the rate expected to be earned based on the long-term investment policy of the plan and the various classes of invested funds, based on the input of the plan’s investment advisors and consulting actuary and the plan’s historic rate of return. As of December 31, 2020, the plan’s average 10-year returns were 9.54%. In setting the annual discount rate assumption, the Pension Committee designated by National Western's Board of Directors reviews current 10 year and 30 year corporate bond yields, the current spread to treasuries, and their relative change during the past twelve months. It also considers the present value of the projected benefit payment stream based on the Citigroup Pension Discount Curve and market data observations provided by independent consultants. In setting the annual portfolio rate of return assumption, the Pension Committee considers the Plan’s actual long-term performance, the portfolio’s current allocation and individual investment holdings, the Committee’s and the investment manager’s expectations for future long term investment strategy and expected performance, and the advice of consultants knowledgeable about overall market expectations and benchmark rates of return used by comparable companies. Plan Assets As discussed in Note (4) Fair Values of Financial Instruments , GAAP defines fair value and establishes a framework for measuring fair value of financial assets. Using this guidance, the Company has categorized its pension plan assets into a three level hierarchy, based on the priority of inputs to the valuation process. The fair value hierarchy classifications are reviewed annually. Reclassification of certain financial assets and liabilities may result based on changes in the observability of valuation attributes. The following tables set forth the Company’s pension plan assets within the fair value hierarchy as of December 31, 2020 and 2019. December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Cash and cash equivalents $ 1,050 1,050 — — Equity securities Domestic 13,853 13,853 — — International 170 170 — — Debt securities Corporate bonds 5,759 — 5,759 — Other invested assets 1 1 — — Total $ 20,833 15,074 5,759 — December 31, 2019 Total Level 1 Level 2 Level 3 (In thousands) Cash and cash equivalents $ 756 756 — — Equity securities Domestic 11,853 11,853 — — International 172 172 — — Debt securities Corporate bonds 5,729 — 5,729 — Other invested assets 2 2 — — Total $ 18,512 12,783 5,729 — Investment securities. Fair values for investments in debt and equity securities are based on quoted market prices, where available. For securities not actively traded, fair values are estimated using values obtained from various independent pricing services. In cases where prices are unavailable from these sources, values are estimated by discounting expected future cash flows using a current market rate applicable to the yield, credit quality, and maturity of the investments. Cash and cash equivalents. Carrying amounts for these instruments approximate their fair values. The plan’s weighted-average asset allocations by asset category have been as follows: December 31, 2020 2019 2018 Asset Category: Equity securities 67% 65% 63% Debt securities 28% 31% 36% Cash and cash equivalents 5% 4% 1% Total 100% 100% 100% The Company has established and maintains an investment policy statement for the assets held in the plan's trust. The investment strategies are of a long-term nature and are designed to meet the following objectives: Ensure that funds are available to pay benefits as they become due Set forth an investment structure detailing permitted assets and expected allocation ranges among classes Ensure that plan assets are managed in accordance with ERISA The pension plan is a highly diversified portfolio. The 95% of pension assets not invested in cash is allocated among 231 different investments, with no single issuer representing more than 4.8% of the fair value of the portfolio. The investment policy statement sets forth the following acceptable ranges for each asset's class. Acceptable Range Asset Category: Equity securities 55-70% Debt securities 30-40% Cash and cash equivalents 0-15% Deviations from these ranges are permitted if such deviations are consistent with the duty of prudence under ERISA. Investments in natural resources, venture capital, precious metals, futures and options, real estate, and other vehicles that do not have readily available objective valuations are not permitted. Short sales, use of margin or leverage, and investment in commodities and art objects are also prohibited. The investment policy statement is reviewed annually to ensure that the objectives are met considering any changes in benefit plan design, market conditions, or other material considerations. Contributions National Western expects to contribute $856,000 to the plan during 2021 which amount includes a $856,000 voluntary contribution. Additional amounts may be contributed at NWLIC's discretion. The plan’s funding status is reviewed periodically throughout the year by National Western’s Pension Plan Committee. NWLIC intends to contribute at least the minimum amounts necessary for tax compliance and to maintain an Adjusted Funding Target Attainment Percentage ("AFTAP") of over 80% to meet the Pension Protection Act Plan’s threshold. Estimated Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): 2021 $ 1,585 2022 1,561 2023 1,544 2024 1,459 2025 1,480 2026-2030 6,736 National Western also sponsors three non-qualified defined benefit pension plans. The first plan covers certain senior officers and provides benefits based on the participants' years of service and compensation. The primary pension obligations and administrative responsibilities of the plan are maintained by a pension administration firm, which is a subsidiary of American National Group, Inc. ("American National"), a related party. American National has guaranteed the payment of pension obligations under the plan. However, the Company has a contingent liability with respect to the plan should these entities be unable to meet their obligations under the existing agreements. Also, the Company has a contingent liability with respect to the plan in the event that a plan participant continues employment with National Western beyond age seventy, the aggregate average annual participant salary increases exceed 10% per year, or any additional employees become eligible to participate in the plan. If any of these conditions are met, the Company would be responsible for any additional pension obligations resulting from these items. Amendments were made to this plan to allow an additional employee to participate and to change the benefit formula for the then Chairman of the Company. As previously mentioned, these additional obligations are a liability to the Company. Effective December 31, 2004, this plan was frozen with respect to the continued accrual of benefits of the then Chairman and the then President of the Company in order to comply with law changes under the American Jobs Creation Act of 2004 ("Act"). Effective July 1, 2005, National Western established a second non-qualified defined benefit plan for the benefit of the then Chairman of the Company. This plan is intended to provide for post-2004 benefit accruals that mirror and supplement the pre-2005 benefit accruals under the previously discussed non-qualified plan, while complying with the requirements of the Act. Effective November 1, 2005, National Western established a third non-qualified defined benefit plan for the benefit of the then President of the Company. This plan is intended to provide for post-2004 benefit accruals that supplement the pre-2005 benefit accruals under the first non-qualified plan as previously discussed, while complying with the requirements of the Act. Ozark National and NIS have no defined benefit plans. A detail of plan disclosures related to the amendments of the original plan and the additional two plans is provided below: Obligations and Funded Status December 31, 2020 2019 (In thousands) Changes in projected benefit obligations: Projected benefit obligations at beginning of year $ 29,258 22,275 Service cost 1,209 502 Interest cost 1,350 1,025 Actuarial (gain) loss 21,736 7,438 Benefits paid (1,982) (1,982) Projected benefit obligations at end of year 51,571 29,258 Change in plan assets: Fair value of plan assets at beginning of year — — Contributions 1,982 1,982 Benefits paid (1,982) (1,982) Fair value of plan assets at end of year — — Funded status at end of year $ (51,571) (29,258) The Projected Benefit Obligation changed in 2020 due to the following: • An experience loss of approximately $16,720,000 due to census demographics different than assumed including increases in actual compensation more than the actuarial assumption. • An experience gain of approximately $441,000 due to the change in mortality. • An experience loss of approximately $5,457,000 due to the decrease in the discount rate from 3.00% to 2.25%. The Projected Benefit Obligation changed in 2019 due to the following: • An experience loss of approximately $4,332,000 due to increases in actual compensation more than the actuarial assumption. • An experience gain of approximately $295,000 due to the change in mortality. • An experience loss of approximately $3,401,000 due to the decrease in the discount rate from 4.00% to 3.00%. December 31, 2020 2019 (In thousands) Amounts recognized in the Company's Consolidated Financial Statements: Assets $ — — Liabilities (51,571) (29,258) Net amount recognized $ (51,571) (29,258) Amounts recognized in accumulated other comprehensive income: Net (gain) loss $ 26,476 10,521 Prior service cost 404 464 Net amount recognized $ 26,880 10,985 The accumulated benefit obligation was $27.0 million and $19.8 million at December 31, 2020 and 2019, respectively. Components of Net Periodic Benefit Cost Years Ended December 31, 2020 2019 2018 (In thousands) Components of net periodic benefit cost: Service cost $ 1,209 502 361 Interest cost 1,350 1,025 852 Amortization of prior service cost 59 59 59 Amortization of net loss (gain) 5,781 1,391 704 Net periodic benefit cost 8,399 2,977 1,976 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net loss (gain) 21,736 7,438 Amortization of prior service cost (59) (59) Amortization of net loss (gain) (5,781) (1,391) Total recognized in other comprehensive income 15,896 5,988 Total recognized in net periodic benefit cost and other comprehensive income $ 24,295 8,965 The components of net periodic benefit cost including service cost are reported in Other operating expenses in the Consolidated Statement of Earnings. Assumptions December 31, 2020 2019 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.25 % 3.00 % Rate of compensation increase 8.00 % 8.00 % December 31, 2020 2019 2018 Weighted-average assumptions used to determine net periodic benefit costs: Discount rate 3.00 % 4.00 % 3.75 % Expected long-term return on plan assets n/a n/a n/a Rate of compensation increase 8.00 % 8.00 % 8.00 % The plan is unfunded and therefore no assumption has been made related to the expected long-term return on plan assets. Plan Assets The plan is unfunded and therefore had no assets at December 31, 2020 or 2019. Contributions National Western expects to contribute approximately $2.0 million to the plan in 2021. Estimated Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): 2021 $ 1,982 2022 1,982 2023 1,982 2024 1,982 2025 1,982 2026-2030 11,617 (B) Defined Contribution Pension Plans In addition to the defined benefit pension plans, National Western sponsors a qualified 401(k) plan for substantially all employees and a non-qualified deferred compensation plan primarily for senior officers. National Western made annual contributions to the 401(k) plan in 2020, 2019, and 2018 of up to four percent of each employee's compensation, based on the employee's personal level of salary deferrals to the plan. All contributions are subject to a vesting schedule based on the employee's years of service. For the years ended December 31, 2020, 2019 and 2018, NWLIC contributions totaled $720,000, $664,000 and $615,000, respectively. The non-qualified deferred compensation plan sponsored by National Western was established to allow eligible employees to defer the payment of a percentage of their compensation and to provide for additional company contributions. Contributions are subject to a vesting schedule based on the employee's years of service. For the years ended December 31, 2020, 2019 and 2018, contributions totaled $175,000, $97,000, and $127,000, respectively. Ozark sponsors a qualified 401(k) plan for substantially all employees of Ozark and NIS. Employer match is discretionary, and contributions are subject to a graded vesting schedule. Expense related to this plan totaled $175,000 and $176,000 for Ozark and $17,000 and $30,000 for NIS for the year ended December 31, 2020 and the eleven months ended December 31, 2019, respectively. Ozark also sponsors a non-qualified, unfunded retirement plan covering certain members of executive staff. The plan is funded solely through discretionary employer contributions. Expense related to this plan totaled $247,000 and $45,000 for the year ended December 31, 2020 and the eleven months ended December 31, 2019, respectively. (C) Postretirement Employment Plans Other Than Pension National Western sponsors two health care plans that were amended in 2004 to provide postretirement benefits to certain fully-vested individuals. The plan is unfunded. A December 31 measurement date is used for the plan. A detail of plan disclosures related to the plan is provided below: Obligations and Funded Status December 31, 2020 2019 (In thousands) Changes in projected benefit obligations: Projected benefit obligations at beginning of year $ 5,782 4,230 Interest cost 165 198 Actuarial (gain) loss 522 1,354 Benefits paid — — Projected benefit obligations at end of year 6,469 5,782 Changes in plan assets: Fair value of plan assets at beginning of year — — Contributions — — Benefits paid — — Fair value of plan assets at end of year — — Funded status at end of year $ (6,469) (5,782) The Projected Benefit Obligation changed in 2020 due to the following: • An experience loss of approximately $389,000 due to the claims/healthcare cost trend experience. • An experience gain of approximately $656,000 due to the change in actuarial assumptions. • An experience gain of approximately $104,000 due to the change in mortality. • An experience loss of approximately $893,000 due to the decrease in the discount rate from 3.00% to 2.25%. The Projected Benefit Obligation changed in 2019 due to the following: • An experience loss of approximately $784,000 due to the claims/healthcare cost trend experience. • An experience gain of approximately $283,000 due to the change in mortality. • An experience gain of approximately $121,000 due to the difference in actual and expected benefit payments. • An experience loss of approximately $974,000 due to the decrease in the discount rate from 4.00% to 3.00%. December 31, 2020 2019 (In thousands) Amounts recognized in the Company's Consolidated Financial Statements: Assets $ — — Liabilities (6,469) (5,782) Net amount recognized $ (6,469) (5,782) Amounts recognized in accumulated other comprehensive income: Net (gain) loss $ 2,288 1,925 Prior service cost — — Net amount recognized $ 2,288 1,925 The accumulated benefit obligation was $6.5 million and $5.8 million at December 31, 2020 and 2019, respectively. Components of Net Periodic Benefit Cost Years Ended December 31, 2020 2019 2018 (In thousands) Components of net periodic benefit cost: Interest cost $ 165 198 158 Amortization of prior service cost — 52 103 Amortization of net loss 158 244 151 Net periodic benefit cost 323 494 412 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net loss 522 1,354 Amortization of prior service cost — (52) Amortization of net loss (gain) (158) (244) Total recognized in other comprehensive income 364 1,058 Total recognized in net periodic benefit cost and other comprehensive income $ 687 1,552 As the plans are not funded, there is no expected return on plan assets shown in the net periodic benefit cost table above. Ozark National and NIS do not offer postretirement employment benefits. The components of net periodic benefit cost including service cost are reported in Other operating expenses in the Consolidated Statement of Earnings. Assumptions December 31, 2020 2019 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.25 % 3.00 % Expected long-term return on plan assets n/a n/a December 31, 2020 2019 2018 Weighted-average assumptions used to determine net periodic benefit costs: Discount rate 3.00 % 4.00 % 3.75 % Expected long-term return on plan assets n/a n/a n/a For measurement purposes, a 8.0% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2021, decreasing annually by 0.5% until reaching an ultimate rate of 5%. Plan Assets The plans are unfunded and therefore had no assets at December 31, 2020 and 2019. Contributions The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): 2021 $ — 2022 — 2023 — 2024 — 2025 — 2026-2030 1,216

Federal Income Taxes

Federal Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal Income Taxes	FEDERAL INCOME TAXES Total Federal income taxes were allocated as follows: Years Ended December 31, 2020 2019 2018 (In thousands) Taxes (benefits) on earnings from continuing operations: Current $ (275) 58,834 (1,697) Deferred 20,031 (25,294) 26,446 Taxes on earnings 19,756 33,540 24,749 Taxes (benefits) on components of stockholders' equity: Net unrealized gains and losses on securities available-for-sale 92,528 26,836 (15,870) Foreign currency translation adjustments 4 139 360 Change in benefit plan liability (3,398) (1,158) 3,003 Change in accounting (806) — — Total Federal income taxes $ 108,084 59,357 12,242 . The provisions for Federal income taxes attributable to earnings from continuing operations vary from amounts computed by applying the statutory income tax rate to income statement earnings before Federal income taxes due to differences between the financial statement reporting and income tax treatment of certain items. These differences and the corresponding tax effects are as follows: Years Ended December 31, 2020 2019 2018 (In thousands) Income tax expense at statutory rate of 21% $ 23,534 34,683 29,716 Dividend received deduction (401) (493) (820) Tax exempt interest (1,436) (1,564) (1,416) Non deductible salary expense 351 294 54 Adjustments pertaining to prior tax years (8) 459 (3,071) Nondeductible insurance 96 96 96 Nondeductible expenses 44 117 198 Tax rate differential for loss carryback (2,497) — — Other, net 73 (52) (8) Taxes on earnings from continuing operations $ 19,756 33,540 24,749 The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27, 2020 to provide relief to businesses impacted by the Coronavirus pandemic. The CARES Act included a temporary reprieve from the carryback limitation on the use of net operating losses, allowing taxpayers to carryback certain net operating losses generated from 2018 through 2020 for up to five years in order to claim a refund of taxes paid in prior years. Accordingly, the Company was permitted to carryback the taxable loss generated in the year ended December 31, 2020 to tax years when the corporate tax rate was 35%. This resulted in a permanent tax benefit equal to the 14% corporate tax rate differential between the carryback rate of 35% and the current statutory rate of 21%. The permanent tax benefit of $2.5 million is reflected as a component in the reconciliation of the tax rate for the year ended December 31, 2020. The Company's policy is to record changes to deferred taxes for rate changes in the period when changes in tax laws have been enacted. Included in the 2018 adjustments pertaining to prior tax years is $0.5 million related to the writedown of deferred taxes due to the rate change in the Tax Cuts and Jobs Act enacted in December 2017 ("Tax Act") adjusted in the tax return. The Company generally expects its effective tax rate to be less than the current statutory rate due to recurring permanent differences that reduce tax expense, principally tax exempt interest income and the dividend received deduction. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2020 and 2019 are presented below. December 31, 2020 2019 (In thousands) Deferred tax assets: Future policy benefits, excess of financial accounting liabilities over tax liabilities $ 188,635 190,230 Investment securities write-downs for financial accounting purposes 649 293 Benefit plan liabilities 14,714 9,259 Accrued operating expenses recorded for financial accounting purposes not currently tax deductible 3,346 3,658 Accrued and unearned investment income recognized for tax purposes and deferred for financial accounting purposes 85 101 Other 2,172 636 Total gross deferred tax assets 209,601 204,177 Deferred tax liabilities: Deferred policy acquisition costs, sales inducement costs, and VOBA, principally expensed for tax purposes (153,742) (154,873) Tax reform reserve adjustment (43,687) (52,432) Debt securities, principally due to deferred market discount for tax (8,338) (8,051) Real estate, principally due to adjustments for financial accounting purposes (2,245) (45) Net unrealized gains on debt and equity securities (112,500) (20,188) Foreign currency translation adjustments (1,360) (1,356) Fixed assets, due to different depreciation bases (10,645) (6,177) Cost of reinsurance (21,596) — Other (614) (962) Total gross deferred tax liabilities (354,727) (244,084) Net deferred tax liabilities $ (145,126) (39,907) Beginning January 1, 2018, the Tax Cuts and Jobs Act imposed a limitation on life insurance tax reserves based upon the greater of net surrender value or 92.81% of the reserve method prescribed by the National Association of Insurance Commissioners which covers such contract as of the date the reserve is determined. The Company determined that this limitation resulted in a tax reserve decrease of $332.9 million which the Tax Act allowed to be recognized over an eight-year period. At the statutory rate of 21%, the Company recorded a deferred tax liability as of December 31, 2017 of $69.9 million. This amount has been incorporated into the periodic measurement of net deferred tax liabilities. The total tax reserve adjustment of $332.9 million resulting from the limitation imposed under the Tax Act is being recognized as an increase of $41.6 million in taxable income per year through the year 2025. At the statutory rate of 21%, this results in additional tax of $8.7 million per year. There were no valuation allowances for deferred tax assets at December 31, 2020 and 2019. In assessing 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. The ultimate realization of deferred tax assets is primarily dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and available tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these deductible differences. In accordance with GAAP, the Company assessed whether it had any significant uncertain tax positions related to open examination or other IRS issues and determined that there were none. Accordingly, no reserve for uncertain tax positions has been recorded. Should a provision for any interest or penalties relative to unrecognized tax benefits be necessary, it is the Company's policy to accrue for such in its income tax accounts. There were no such accruals as of December 31, 2020 or 2019. The Company and its corporate subsidiaries file a consolidated U.S. Federal income tax return, which is subject to examination for all years after 2016. The Company's federal income tax return is consolidated with the entities listed below. • National Western Life Group, Inc. (NWLGI) • National Western Life Insurance Company (NWLIC, a subsidiary of NWLGI) • The Westcap Corporation (subsidiary of NWLIC) • Braker P III, LLC (subsidiary of NWLIC) • NWL Financial, Inc. (subsidiary of NWLIC) • NWLSM, Inc. (subsidiary of NWLIC) • NWL Services, Inc. (subsidiary of NWLGI) • Regent Care Operations General Partner, Inc. (subsidiary of NWL Services, Inc.) • Regent Care Operations Limited Partner, Inc. (subsidiary of NWL Services, Inc.) • Regent Care General Partner, Inc. (subsidiary of NWL Services, Inc.) • Regent Care Limited Partner, Inc. (subsidiary of NWL Services, Inc.) • N.I.S. Financial Services, Inc. (NIS, a subsidiary of NWLGI) Ozark National will not be consolidated with NWLGI for federal tax filings until it has been a member of the affiliated group for five full years, per section 1504(c)(2) of the Internal Revenue Code. Allocation of the consolidated Federal income tax liability amongst the Company and its consolidated subsidiaries is based on separate return calculations pursuant to the "wait-and-see" method as described in sections 1.1552-1(a)(1) and 1.1502-33(d)(2) of the current Treasury Regulations. Under this method, consolidated group members are not given current credit for net losses until future net taxable income is generated to realize such credits.

Short-Term Borrowings

Short-Term Borrowings	12 Months Ended
	Dec. 31, 2020
Short-term Debt [Abstract]
Short-Term Borrowings	SHORT-TERM BORROWINGS National Western has available a $75 million bank line of credit (with Moody National Bank, its custodian bank and a related party) primarily for cash management purposes. The line of credit facility was increased from $40 million effective October 1, 2018. The Company is required to maintain a collateral security deposit in trust with the sponsoring bank having a fair value equal to 110% of the line of credit. The Company had no outstanding borrowings under the line of credit at December 31, 2020 or 2019. The Company maintained assets having an amortized value of $95.1 million (fair value of $98.8 million) on deposit with the lender at December 31, 2020. During 2020, National Western became a member of the Federal Home Loan Bank of Dallas (FHLB) through an initial minimum required stock investment of $4.3 million. Through this membership, National Western will have a specified borrowing capacity based upon the amount of collateral it establishes. At December 31, 2020, no collateral had been established.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES (A) Legal Proceedings In the normal course of business, the Company is involved or may become involved in various legal actions in which claims for alleged economic and punitive damages have been or may be asserted, some for substantial amounts. In recent years, carriers offering life insurance and annuity products have faced litigation, including class action lawsuits, alleging improper product design, improper sales practices, and similar claims. As previously disclosed, the Company has been a defendant in prior years in such class action lawsuits. Given the uncertainty involved in these types of actions, the ability to make a reliable evaluation of the likelihood of an unfavorable outcome or an estimate of the amount of or range of potential loss is endemic to the particular circumstances and evolving developments of each individual matter on its own merits. National Western was the named defendant in the case of Damaris Maldonado Vinas, et al. vs. National Western Life Insurance , in which the plaintiffs, after National Western had paid the death benefits to the beneficiary (Francisco Iglesias-Alvarez) upon the annuitant’s (Carlos Iglesias-Alvarez) death, sought to annul two annuity policies issued by National Western at the behest of Carlos Iglesias-Alvarez and which named Francisco Iglesias-Alvarez as their beneficiary. On March 31, 2016, the United States District Court for the District of Puerto Rico (the "Court") issued its Opinion and Order on the pending Motions for Summary Judgment submitted by the parties, and therein denied National Western’s motion and granted plaintiffs’ motion voiding the two annuities and requesting a refund of the premiums paid ($2.9 million). National Western vigorously defended the case and believed that the Court’s Opinion and Order was contrary to applicable law. As such, National Western filed a Motion for Reconsideration of Opinion and Order and Corresponding Judgment with the Court on April 27, 2016, which the Court denied on May 5, 2016. National Western filed a Notice of Appeal on June 10, 2016, filed its Appeal Brief on September 12, 2016, and oral arguments with the U.S. Court of Appeals for the First Circuit were held on March 9, 2017. On June 29, 2017, the Court of Appeals vacated the district court's judgment and remanded to the district court to determine whether it is nevertheless equitable for the case to proceed without Francisco Iglesias-Alvarez. Plaintiffs filed a Motion in Support of Determination in Equity and Good Conscience That Action Should Proceed Among Existing Parties Under Fed.R.Civ.P. 19(B) on September 14, 2017, and National Western filed its Opposition to Plaintiffs' Motion on October 27, 2017. On April 2, 2018 the Court asked the parties for additional briefing regarding the Court's jurisdiction over Francisco Iglesias-Alvarez, which the parties filed on April 30, 2018. On May 14, 2018, National Western filed its Opposition to Plaintiffs' Brief. Plaintiffs filed a Motion to Strike on May 22, 2018, which National Western opposed on June 4, 2018. On August 6, 2018, the Court issued an Opinion and Order dismissing plaintiffs’ case without prejudice and plaintiffs filed a Notice of Appeal to the First Circuit Court of Appeals on September 4, 2018. The case settled in December of 2018, without an admission of liability by either party, via a settlement amount less than the amount previously accrued. On September 28, 2017, a purported shareholder derivative lawsuit was filed in the 122nd District Court of Galveston County, State of Texas entitled Robert L. Moody, Jr. derivatively on behalf of National Western Life Insurance Company and National Western Life Group, Inc. v. Ross Rankin Moody, et al., naming certain current and former directors and current officers as defendants. The complaint challenged the directors’ oversight of insurance sales to non-U.S. residents and alleged that the defendants breached their fiduciary duties in the conduct of their duties as board members by failing to act (i) on an informed basis and (ii) in good faith or with the honest belief that their actions were in the best interests of the Company. The complaint sought an undetermined amount of damages, attorneys’ fees and costs, and equitable relief, including the removal of the Company’s Chairman and Chief Executive Officer and other board members and/or officers of the Company. The Company believes that the claims in the complaint were baseless and without merit, will continue to vigorously defend this lawsuit, and was awarded reimbursement of legal costs and expenses from plaintiff as detailed below. The Company believes, based on information currently available, that the final outcome of this lawsuit will not have a material adverse effect on the Company’s business, results of operations, or consolidated financial position. The companies and directors filed their respective Pleas to the Jurisdiction ("Pleas") contesting the plaintiff's standing to even pursue this action, along with their Answers, on October 27, 2017. On December 14, 2017, plaintiff filed a Response to the Pleas and on December 21, 2017, the Court heard oral argument on the Pleas. Plaintiff then filed a First Amended Petition on January 11, 2018. The companies and directors filed a Supplement to the Pleas on January 30, 2018, to which plaintiff responded on February 1, 2018, and the companies and directors replied on February 9, 2018. On May 3, 2018, the Court issued a memorandum to all attorneys of record stating that the Court would grant the defendants' Pleas and asked the attorney for defendants to prepare and submit proposed orders/judgments granting the requested relief for consideration by the Court. The defendants filed such proposed order granting the Pleas on May 7, 2018. On May 16, 2018 the Court issued an Order granting the Pleas and dismissing Robert L. Moody, Jr.’s claims with prejudice, and plaintiff then filed a Motion to Transfer Venue (“MTTV”). Defendants filed an Application for Fees, seeking to recover defendants’ legal costs and expenses from plaintiff, and a Response to the MTTV on June 8, 2018. In response plaintiff filed a Motion to Vacate, a Response to the Application for Fees, and his own Request for Attorney’s Fees on July 5, 2018. Defendants filed a Response to the Motion to Vacate and to plaintiff’s Request for Attorney’s Fees on July 11, 2018, and the Court heard oral arguments on July 16, 2018. Plaintiff filed supplemental briefing in support of his July 5, 2018 filings on July 25, 2018, and defendants filed their response to plaintiff's supplemental briefing on July 27, 2018. On August 8, 2018 the Court issued an Order denying plaintiff's Motion to Vacate. Pursuant to the Court’s instructions, on October 5, 2018, defendants filed an Order Granting Application for Expenses. Defendants then filed a Motion for Entry of Final Judgment and a Request for Submission Date on Motion for Entry of Final Judgment on October 11, 2018, which the Court set as October 30, 2018. Plaintiff filed his Objection to Proposed Final Judgment and Objection to Proposed Order on Attorneys’ Fees on October 25, 2018, to which defendants filed a response on October 30, 2018. On November 11, 2018, the Court issued its Final Judgment: ordering Plaintiff to pay the companies $1,314,054 for reasonable and necessary fees and expenses, denying Plaintiff’s Motion to Transfer Venue, and dismissing Plaintiff’s counterclaim. Plaintiff appealed the Court’s Final Judgment to the First District Court of Appeals in Houston, TX. The court of appeals issued a panel decision on December 10, 2020 affirming the dismissal and award of attorneys’ fees and expenses to the companies. On January 22, 2021, Plaintiff filed a motion for rehearing en banc of the affirmance of the award of attorneys’ fees and expenses. That motion remains pending. In April of 2019, National Western defended a two-week jury trial in which it was alleged that it committed actionable Financial Elder Abuse in its issuance of a $100,000 equity indexed annuity to the Plaintiff in the case of Williams v Pantaleoni et al , Case No. 17CV03462, Butte County California Superior Court. The Court entered an Amended Judgment on the Jury Verdict on July 27, 2019 against National Western in the amount of $14,949 for economic damages and $2.9 million in non-economic and punitive damages. National Western vigorously disputes the verdicts and the amounts awarded, and in furtherance of such, filed a Motion for Judgment Notwithstanding Jury Verdict and a Motion for New Trial, both of which were rejected by the Court. On September 9, 2019, NWLIC filed its Notice of Appeal. On November 11, 2019, the judge awarded the Plaintiff attorney’s fees in the amount of $1.26 million. Both the Plaintiff and NWLIC have appealed this ruling. In the Form 10-Q for the period ended September 30, 2020, the Company reported that it experienced a data event in which an intruder accessed and exfiltrated certain data from the Company's network. As a result of this event, the Company is aware of two proposed class actions filed against the Company, Mildred Baldwin, on behalf of herself and others similarly situated vs. National Western Life Insurance Company , Missouri Circuit Court for the 18th Judicial Circuit (Pettis County) filed February 16, 2021, and Douglas Dyrssen Sr., individually and on behalf of all others similarly situated vs. National Western Life Insurance Company and National Western Life Group, Inc. , United States District Court for the Eastern District of California filed March 8, 2021. The actions are seeking an undetermined amount of damages, attorneys' fees and costs, injunctive relief, declaratory and other equitable relief, and enjoinment. As the Company has been notified only recently of these lawsuits, it is in the process of analyzing the merits of these various allegations. At this time, no prediction can be made as to the likelihood or amount of any recovery against the Company. It is possible other actions may be filed against the Company due to the data event. Although there can be no assurances, at the present time, the Company does not anticipate that the ultimate liability arising from such other potential, pending, or threatened legal actions will have a material adverse effect on the financial condition or operating results of the Company. Separately, Brazilian authorities commenced an investigation into possible violations of Brazilian criminal law in connection with the issuance of National Western insurance policies to Brazilian residents, and in assistance of such investigation a Commissioner appointed by the U.S. District Court for the Western District of Texas issued a subpoena in March of 2015 upon NWLIC to provide information relating to such possible violations. No conclusion can be drawn at this time as to its outcome or how such outcome may impact the Company’s business, results of operations or financial condition. National Western has been cooperating with the relevant governmental authorities in regard to this matter. (B) Financial Instruments In order to meet the financing needs of its customers in the normal course of business, the Company is a party to financial instruments with off-balance sheet risk. These financial instruments are commitments to extend credit which involve elements of credit and interest rate risk in excess of the amounts recognized in the Consolidated Balance Sheets. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amounts, assuming that the amounts are fully advanced and that collateral or other security is of no value. Commitments to extend credit are legally binding agreements to lend to a customer that generally have fixed expiration dates or other termination clauses and may require payment of a fee. Commitments do not necessarily represent future liquidity requirements, as some could expire without being drawn upon. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The Company controls the credit risk of these transactions through credit approvals, limits, and monitoring procedures. The Company had $14.5 million in commitments to fund new loans and $3.5 million in commitments to extend credit relating to existing loans at December 31, 2020. The Company evaluates each customer's creditworthiness on a case-by-case basis. The Company had commitments to make capital contributions to alternative investment debt and equity funds of $150.9 million as of December 31, 2020. (C) Guaranty Association Assessments National Western and Ozark National are subject to state guaranty association assessments in all states in which they are licensed to do business. These associations generally guarantee certain levels of benefits payable to resident policyholders of insolvent insurance companies. Many states allow premium tax credits for all or a portion of such assessments, thereby allowing potential recovery of these payments over a period of years. However, several states do not allow such credits. The Company estimates its liabilities for guaranty association assessments by using the latest information available from the National Organization of Life and Health Insurance Guaranty Associations. The Company monitors and revises its estimates for assessments as additional information becomes available which could result in changes to the estimated liabilities. As of December 31, 2020, 2019 and 2018, liabilities for guaranty association assessments totaled $0.2 million, $0.2 million and $0.1 million, respectively. Other operating expenses related to state guaranty association assessments were minimal for the years ended December 31, 2020, 2019 and 2018. (D) Leases The Company leases various computers and other office related equipment under operating leases. Rental expenses for these leases were $0.5 million, $0.4 million and $0.4 million for the years ended December 31, 2020, 2019 and 2018, respectively. In October 2017, the Company entered into a lease agreement for new equipment under a finance lease. This lease will expire in December 2022. The present value of future payments capitalized amounted to $1.9 million and amortization commenced in 2018. The Company's future annual lease obligations as of December 31, 2020 are as shown below (in thousands). 2021 $ 416 2022 430 Total minimum lease payments 846 Less: Interest (13) Present value of net minimum lease payments $ 833

Deposits with Regulatory Author

Deposits with Regulatory Authorities	12 Months Ended
	Dec. 31, 2020
Deposits with Regulatory Authorities [Abstract]
Deposits with Regulatory Authorities	DEPOSITS WITH REGULATORY AUTHORITIES The following assets, stated at amortized cost, were on deposit with state and other regulatory authorities, as required by law, at the end of each year. December 31, 2020 2019 (In thousands) National Western: Debt securities held-to-maturity $ — 14,261 Debt securities available-for-sale 15,283 1,037 Short-term investments 475 475 Total National Western 15,758 15,773 Ozark National: Debt securities held-to-maturity — 3,343 Debt securities available-for-sale 3,331 — Total Ozark National 3,331 3,343 Total $ 19,089 19,116

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Robert L. Moody, Jr. ("Mr. Moody, Jr.") is the brother of Ross R. Moody, NWLGI's Chairman, President and Chief Executive Officer, son of Robert L. Moody, Sr., Chairman Emeritus of the Board of Directors of NWLGI, the stepson of Ann M. Moody who serves as a director of NWLGI, brother of Russell S. Moody who serves as an advisory director of NWLGI, and a half-brother of Frances A. Moody-Dahlberg who serves as a director of NWLGI. Mr. Moody, Jr. wholly owns an insurance marketing organization that maintains agency contracts with National Western pursuant to which agency commissions are paid in accordance with standard commission schedules. Mr. Moody, Jr. also maintains an independent agent contract with National Western for policies personally sold under which commissions are also paid in accordance with standard commission schedules. Commissions paid under these agency contracts aggregated approximately $182,957 and $131,974 in 2020 and 2019, respectively. Management fees totaling $0 and $181,338 were paid to Regent Management Services, Limited Partnership ("RMS") for services provided to downstream nursing home subsidiaries of NWLGI in 2020 and 2019, respectively. These nursing home operations were sold by the Company during 2019. RMS is 1% owned by general partner RCC Management Services, Inc. ("RCC"), and 99% owned by limited partner, the Three R Trusts. RCC is 100% owned by the Three R Trusts. The Three R Trusts are four separate Texas trusts for the benefit of the children of Robert L. Moody, Sr. (Robert L. Moody, Jr., Ross R. Moody, Russell S. Moody, and Frances A. Moody-Dahlberg). National Western holds an investment totaling approximately 9.4% of the issued and outstanding shares of Moody Bancshares, Inc. at December 31, 2020 and the Three R Trusts owns a majority of the issued and outstanding shares. Moody Bancshares, Inc. owns 100% of the outstanding shares of Moody Bank Holding Company, Inc., which owns approximately 98.5% of the outstanding shares of The Moody National Bank of Galveston ("MNB"). National Western utilizes MNB for certain bank custodian services as well as for certain administrative services with respect to its defined benefit plan. Fees totaling $582,150 and $777,498 were paid to MNB with respect to these services in 2020 and 2019, respectively. In 2018, the Company entered into an office space lease with MNB, with payments totaling $32,101 and $32,101 in 2020 and 2019, respectively. National Western paid American National Group, Inc. (“American National”) $840,802 and $713,033 in 2020 and 2019, respectively, in premiums for certain company sponsored benefit plans and $2,635,164 and $2,903,053 in 2020 and 2019, respectively, in reimbursements for claim costs for which American National provides third party administrative services. American National paid National Western $2,744,962 and $3,024,013 in 2020 and 2019, respectively, in premiums for its company sponsored benefit plans. National Western maintains an investment agreement with American National Registered Investment Advisory, Inc., a subsidiary of American National, under which $47,778 and $45,391 was paid in 2020 and 2019, respectively, for services. Robert L. Moody, Sr., serves as Chairman Emeritus and Ross R. Moody serves as Chairman of the Board of American National. During 2015, American National sold a 24.93% undivided participation in a mortgage loan to The Westcap Corporation for $20.0 million. The Westcap Corporation will receive 24.93% of all future cash receipts, which will be recognized over the life of the loan. This mortgage loan investment had a balance of $18.5 million and $19.0 million as of December 31, 2020 and 2019, respectively, which is reflected in the Consolidated Balance Sheets.

Unaudited Quarterly Financial D

Unaudited Quarterly Financial Data	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Data	UNAUDITED QUARTERLY FINANCIAL DATA Quarterly results of operations for 2020 are summarized as follows: First Quarter Second Quarter Third Quarter Fourth Quarter (In thousands except per share data) 2020: Total revenues $ 52,488 216,015 202,702 223,537 Net earnings $ (2,062) 48,413 10,825 35,135 Basic earnings per share: Class A $ (0.58) 13.69 3.06 9.94 Class B $ (0.29) 6.85 1.53 4.97 Diluted earnings per share: Class A $ (0.58) 13.69 3.06 9.94 Class B $ (0.29) 6.85 1.53 4.97 Quarterly results of operations for 2019 are summarized as follows: First Quarter Second Quarter Third Quarter Fourth Quarter (In thousands except per share data) 2019: Total revenues $ 217,909 192,685 173,166 235,428 Net earnings $ 40,198 33,696 19,989 37,733 Basic earnings per share: Class A $ 11.37 9.53 5.65 10.67 Class B $ 5.68 4.76 2.83 5.34 Diluted earnings per share: Class A $ 11.37 9.53 5.65 10.67 Class B $ 5.68 4.76 2.83 5.34 Quarterly revenues reflect the differences between the change in fair value of derivative investments for each quarter corresponding to the performance of the indices upon which the Company's call options are based. The comparability of revenues is impacted by the application of fair value accounting to fixed-index business as follows: First Quarter Second Quarter Third Quarter Fourth Quarter (In thousands) 2020 $ (106,629) 40,243 31,520 49,620 2019 $ 42,003 17,828 3,296 60,080

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSSubsequent events have been evaluated through the date of filing and no other reportable items were identified.

Schedule I - Summary of Investm

Schedule I - Summary of Investments Other Than Investments in Related Parties	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I - Summary of Investments Other Than Investment in Related Parties	Type of Investment Amortized Cost or Cost (1) Fair Value Balance Sheet Amount Debt securities available-for-sale: United States government and government agencies and authorities $ 76,097 78,719 78,719 States, municipalities, and political subdivisions 528,266 566,089 566,089 Foreign governments 11,115 11,449 11,449 Public utilities 831,990 909,910 909,910 Corporate 7,376,104 8,098,973 8,098,973 Commercial mortgage-backed 30,108 953,788 953,788 Residential mortgage-backed 902,974 31,471 31,471 Asset-backed 117,889 120,524 120,524 Total securities available-for-sale 9,874,543 10,770,923 10,770,923 Total fixed maturity bonds 9,874,543 10,770,923 10,770,923 Equity securities: Common stocks: Public utilities 728 1,309 1,309 Banks, trust, and insurance companies 1,701 3,143 3,143 Industrial, miscellaneous, and all others 9,391 13,042 13,042 Preferred stocks 250 250 250 Total equity securities 12,070 17,744 17,744 Derivatives, index options 132,821 132,821 Mortgage loans on real estate 332,521 332,521 Policy loans 74,083 74,083 Other long-term investments (2) 104,113 104,113 Total investments other than investments in related parties $ 10,530,151 11,432,205 (1) Bonds and mortgages are shown at amortized cost reduced by repayments and allowances for possible losses. Real estate is stated at costs net of accumulated depreciation. Derivatives are shown at fair value. (2) There was no real estate acquired by foreclosure included in other long-term investments. See accompanying 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 Disclosure [Abstract]
Schedule II - Condensed Financial Information of Registrant	2020 2019 ASSETS Investment in subsidiaries $ 2,535,669 2,111,369 Cash and cash equivalents 8,376 1,239 Federal income tax receivable — 4,731 Deferred Federal income tax asset 7,721 240 Other assets 293 323 Total assets $ 2,552,059 2,117,902 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Due to subsidiaries $ — — Current Federal income tax liability 11,667 — Deferred Federal income tax liability — — Other liabilities 642 1,472 Total liabilities 12,309 1,472 Stockholders' Equity: Common Stock: Class A - $0.01 par value; 7,500,000 shares authorized; 3,436,020 issued and outstanding in 2020 and 2019 34 34 Class B - $0.01 par value; 200,000 shares authorized, issued, and outstanding in 2020 and 2019 2 2 Additional paid-in capital 41,716 41,716 Accumulated other comprehensive income 395,421 60,108 Retained earnings 2,102,577 2,014,570 Total stockholders’ equity 2,539,750 2,116,430 Total liabilities and stockholders' equity $ 2,552,059 2,117,902 See Notes to Condensed Financial Information of Registrant 2020 2019 2018 Revenues: Dividend income from subsidiaries $ 1,395 36,000 5,957 Net investment income 9 — — Total revenues 1,404 36,000 5,957 Expenses: Other operating expenses 3,322 5,358 2,617 Total expenses 3,322 5,358 2,617 Earnings/(loss) before Federal income taxes (1,918) 30,642 3,340 Federal income taxes/(benefit) (2,212) (1,739) (717) Earnings before equity in earnings of affiliates 294 32,381 4,057 Equity in earnings of affiliates 92,018 99,235 112,701 Net earnings $ 92,312 131,616 116,758 2020 2019 2018 Cash flows from operating activities: Net earnings $ 92,312 131,616 116,758 Adjustments to reconcile net earnings to cash provided by operating activities: Equity in earnings of affiliates (92,018) (99,235) (112,701) Depreciation and amortization 30 30 30 Change in: Federal income tax, net 16,397 (547) (1,166) Deferred Federal income tax (7,481) (637) 448 Due to subsidiaries, net — — — Other, net (830) (4) (1,956) Net cash provided by operating activities 8,410 31,223 1,413 Cash flows from investing activities: Payments to acquire businesses — (30,154) — Net cash provided by (used in) investing activities — (30,154) — Cash flows from financing activities: Dividends on common stock (1,273) (1,273) (1,273) Net cash provided by (used in) financing activities (1,273) (1,273) (1,273) Net increase (decrease) in cash, cash equivalents, and restricted cash 7,137 (204) 140 Cash, cash equivalents, and restricted cash at the beginning of year 1,239 1,443 1,303 Cash, cash equivalents, and restricted cash at the end of year $ 8,376 1,239 1,443 1. Basis of Presentation The accompanying condensed financial information of the Parent Company Only should be read in conjunction with the consolidated financial statements and notes thereto of National Western Life Group, Inc. ("NWLGI"). As discussed in Note (1) Summary of Significant Accounting Policies of the Consolidated Financial Statements, on October 1, 2015, National Western Life Insurance Company ("National Western" or "NWLIC") completed its previously announced holding company reorganization and became a wholly owned subsidiary of NWLGI. As a result of the reorganization, NWLGI replaced National Western as the publicly held company. In the Parent Company Only condensed financial statements, NWLGI's investments in subsidiaries are stated at cost plus equity in undistributed income (losses) of subsidiaries since the date of acquisition. The subsidiary information presented is eliminated in the consolidated financial statements. NWLGI and its subsidiaries pay service fees to NWLIC which are included in expenses and equity earnings. These service fees are also eliminated in the consolidated financial statements. 2. Dividend Payments In the years ended December 31, 2020, 2019 and 2018, dividends of $0.0 million, $36.0 million and $6.0 million were declared and paid by NWLIC to NWLGI, respectively. In the years ended December 31, 2020 and 2019, dividends of $1.4 million and $0.0 million were declared and paid by NIS to NWLGI, respectively. These dividend payments are eliminated in the consolidated financial statements.

Schedule IV - Reinsurance Infor

Schedule IV - Reinsurance Information	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Schedule IV - Reinsurance Information	Gross Amount Ceded to Other Companies Assumed from Other Companies Net amount Percentage of Amount Assumed to Net (In thousands) 2020 Life insurance face in force $ 21,954,160 4,013,073 — 17,941,087 — % Premiums: Life insurance $ 95,579 6,217 205 89,567 0.2 % Accident and health insurance 2,956 — — 2,956 — % Annuities 19 — — 19 — % Total premiums $ 98,554 6,217 205 92,542 0.2 % 2019 Life insurance face in force $ 23,299,829 4,252,828 — 19,047,001 — % Premiums: Life insurance $ 92,844 6,041 212 87,015 0.2 % Accident and health insurance 3,214 — — 3,214 — % Annuities 19 — — 19 — % Total premiums $ 96,077 6,041 212 90,248 0.2 % 2018 Life insurance face in force $ 18,595,209 4,021,979 — 14,573,230 — % Premiums: Life insurance $ 18,478 3,196 — 15,282 — % Accident and health insurance 3,009 — — 3,009 — % Annuities — — — — — % Total premiums $ 21,487 3,196 — 18,291 — %

Schedule V - Valuation and Qual

Schedule V - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule V - Valuation and Qualifying Accounts	Description Balance at Beginning of Period (1) Charged to Costs and Expenses (2) Charged to Retained Earnings Reductions Balance at End of Period Valuation accounts deducted from applicable assets: Allowance for possible losses on mortgage loans: December 31, 2020 $ 675 1,307 504 — 2,486 December 31, 2019 $ 675 — — — 675 December 31, 2018 $ 650 25 — — 675 Allowance for current expected credit losses on debt securities December 31, 2020 $ — — 3,334 (3,334) — Allowance for possible losses on real estate: December 31, 2020 $ 596 — — (172) 424 December 31, 2019 $ 611 — — (15) 596 December 31, 2018 $ 611 — — — 611 Notes: (1) Amounts were recorded to realized (gains) losses on investments prior to January 1, 2020, and net investment income, subsequent to January 1, 2020. (2) On January 1, 2020, the Company adopted ASU 2016-13 and recorded a transition adjustment to retained earnings. See accompanying report of Independent Registered Public Accounting Firm.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation National Western Life Insurance Company ("National Western" or "NWLIC") became a wholly owned subsidiary of National Western Life Group, Inc. ("NWLGI") effective October 1, 2015 under a previously announced holding company reorganization. As a result of the reorganization, NWLGI replaced National Western as the publicly held company. The accompanying Consolidated Financial Statements include the accounts of NWLGI and its wholly owned subsidiaries: National Western, Regent Care San Marcos Holdings, LLC, NWL Services, Inc., and N.I.S. Financial Services, Inc. ("NIS"). National Western's wholly owned subsidiaries include The Westcap Corporation, NWL Financial, Inc., NWLSM, Inc., Braker P III, LLC, and Ozark National Life Insurance Company ("Ozark National"). The 2019 results of operations for Ozark National and NIS include their respective business activity subsequent to their acquisition effective January 31, 2019 and all references herein to results for 2019 refer to their eleven month activity February 1, 2019 through December 31, 2019. All significant intercorporate transactions and accounts have been eliminated in consolidation.
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates in the accompanying Consolidated Financial Statements include (1) liabilities for future policy benefits, (2) valuation of derivative instruments, (3) recoverability and amortization of deferred policy acquisition costs ("DPAC"), deferred sales inducements ("DSI") and the value of business acquired ("VOBA"), (4) valuation allowances for deferred tax assets, (5) goodwill, (6) allowances for credit losses and, prior to January 1, 2020, other-than-temporary impairment losses on debt securities, (7) commitments and contingencies, and (8) allowance for credit losses for mortgage loans and real estate. During the year ended December 31, 2019, the Company incorporated accounting estimates for business combinations, value of business acquired, and fair value measurement as a result of its acquisition of Ozark National and NIS. National Western and Ozark National also file financial statements with insurance regulatory authorities which are prepared on the basis of statutory accounting practices prescribed or permitted by the Colorado Division of Insurance and Missouri Department of Commerce and Insurance, respectively, which are significantly different from Consolidated Financial Statements prepared in accordance with GAAP. These differences are described in detail in Note (9) Statutory Information .
Investments	Investments Fixed Maturities and Equity Securities Historically, investments in debt securities the Company purchased with the intent to hold to maturity were classified as securities held-to-maturity and were reported at amortized cost (less declines in fair value that were deemed other-than-temporary). Effective December 31, 2020, the Company entered into a funds withheld reinsurance agreement under which certain securities were required to be reclassified from held-to-maturity to available-for-sale given a change in intent with respect to these securities by the reinsurer. Given this occurrence, it was determined that the held-to maturity classification of the other remaining held-to-maturity securities was no longer appropriate. Accordingly, all other debt securities previously classified as held-to-maturity were transferred at their fair value to available-for-sale as of December 31, 2020. Investments in debt securities classified as securities available-for-sale are reported in the accompanying Consolidated Financial Statements at fair value. Valuation changes resulting from changes in the fair value of the securities are reflected as a component of Stockholders' Equity in Accumulated other comprehensive income. These unrealized gains or losses in stockholders' equity are reported net of taxes and adjustments to deferred policy acquisition costs. Transfers of securities between categories are recorded at fair value at the date of transfer. Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the effective interest method. For mortgage-backed and asset-backed securities, the effective interest method is used based on anticipated prepayments and the estimated economic life of the securities. When estimates of prepayments change, the effective yield is recalculated to reflect actual payments to date and anticipated future payments. The net investment in the securities is adjusted to the amount that would have existed had the new effective yield been applied at the time of acquisition (retrospective method). This adjustment is reflected in net investment income. For loan-backed securities not meeting the definition of "highly rated", the prospective method is evaluated and, if materially different from the retrospective method, utilized to account for these securities. The retrospective adjustment method has been used to value all loan-backed and structured securities included in the accompanying Consolidated Financial Statements. As further disclosed under Accounting Standards and Changes in Accounting in this note, the Company adopted new accounting guidance for debt securities in the held-to-maturity category as of January 1, 2020. The Company employed a cohort cumulative loss rate method in estimating current expected credit losses with respect to its held-to-maturity debt securities. This method applies publicly available industry wide statistics of default incidence by defined segmentations of debt security investments combined with future assumptions regarding economic conditions (i.e. GDP forecasts) both in the near term and the long term. The Company utilized Moody's loss rates by industry type and credit ratings and applied them to each major bond category. These bond categories were further segmented by credit ratings and by maturities of two years and less and more than two years. The Company determines current expected credit losses for available-for-sale debt securities in accordance with FASB ASC Subtopic 326-30 when fair value is less than amortized cost, interest payments are missed and the security is experiencing credit issues. Provisions to and releases from the allowance for credit losses are recorded in net investment income in the Condensed Consolidated Statements of Earnings. Previous accounting guidance required the Company to review its portfolio for potential other-than-temporary impairments which would require that affected securities be written down to an adjusted cost basis with the amount of the writedown recorded as part of net realized gains and losses in the Consolidated Statements of Earnings. Under this previous guidance, the Company reviewed its investment portfolio for market value changes to identify changes caused by issuer credit deterioration, changes in market interest rates and changes in economic conditions. If this review indicated a decline in fair value that was other-than-temporary, the Company’s carrying amount in the investment was reduced to its estimated fair value as an other-than-temporary impairment ("OTTI"). In accordance with GAAP guidance the estimated credit versus non-credit components of the OTTI were bifurcated. The credit component was recorded in earnings and resulted in the establishment of a new cost basis for the security. The non-credit component was reclassified as unrealized loss in Other comprehensive income. The Company would not recognize impairment of securities due to changing of interest rates or market dislocations unless the Company had the intent to sell the securities prior to recovery or maturity. The Company considered a number of factors in determining whether the impairment was other-than-temporary. These included, but were not limited to: 1) actions taken by rating agencies, 2) default by the issuer, 3) the significance of the decline in fair value, 4) the intent and ability to hold the investment until recovery, 5) the time period during which the decline had occurred, 6) an economic analysis of the issuer’s industry, and 7) the financial strength, liquidity, and recoverability of the issuer. Management performed a security-by-security review in evaluating the need for any other-than-temporary impairments. Although no set formula was used in this process, the investment performance, collateral position, and continued viability of the issuer were significant measures considered. Equity securities, common and non-redeemable preferred stocks are reported at fair value with changes in fair value included in net investment income in the Consolidated Statement of Earnings. Alternative Investments The Company invests in certain non-fixed income, alternative investments in the form of limited partnerships or similar legal structures (i.e. investment funds). The Company does not have a controlling interest and is not the primary beneficiary for any of its alternative investments; accordingly, these investments are accounted for using the equity method of accounting where the cost is recorded as an investment in the fund. Adjustments to the carrying amount reflect the pro rata ownership percentage of the operating results as indicated by the net asset value in the investment fund financial statements, which can be done on a lag of up to three months when investee information is not received in a timely manner. Alternative investments are reported in other long-term investments in the Consolidated Balance Sheets. The proportionate share of investment fund income is reported as a component of Net realized investment gains in the Consolidated Statements of Earnings. Derivatives Fixed-index products combine features associated with traditional fixed annuities and universal life contracts, with the option to have interest rates linked in part to an underlying equity index. The equity return component of such policy contracts is identified separately and accounted for in future policy benefits as embedded derivatives on the Consolidated Balance Sheets. The remaining portions of these policy contracts are considered the host contracts and are recorded separately within future policy benefits as fixed annuity or universal life contracts. The host contracts are accounted for under debt instrument type accounting. The host contracts are recorded as discounted debt instruments that are accreted, using the effective yield method, to their minimum account values at their projected maturities or termination dates. The Company purchases over-the-counter index options, which are derivative financial instruments, to hedge the equity return component of its index annuity and life products. The amounts which may be credited to policyholders are linked, in part, to the returns of the underlying index. The index options act as hedges to match closely the returns on the underlying index. Cash is exchanged upon purchase of the index options and no principal or interest payments are made by either party during the option periods. Upon maturity or expiration of the options, cash is paid to the Company based on the underlying index performance and terms of the contract. As a result, amounts credited to policyholders' account balances are substantially offset by changes in the value of the options. The Company does not elect hedge accounting relative to derivative instruments. The derivatives are reported at their fair value in the accompanying Consolidated Financial Statements. Changes in the values of the index options and changes in the policyholder liabilities are both reflected in the Consolidated Statement of Earnings. Any gains or losses from the sale or expiration of the options, as well as period-to-period changes in values, are reflected as net investment income in the Consolidated Statement of Earnings. Any changes relative to the embedded derivatives associated with policy contracts are reflected in contract interest in the Consolidated Statement of Earnings. Although there is credit risk in the event of nonperformance by counterparties to the index options, the Company does not expect any counterparties to fail to meet their obligations, given their high credit ratings. In addition, credit support agreements are in place with all counterparties for option holdings in excess of specific limits, which further reduces the Company's credit exposure. At December 31, 2020 and 2019, the fair value of index options owned by the Company totaled $132.8 million and $157.6 million, respectively. Of these amounts, $71.0 million and $80.7 million represent unrealized gains and losses on the options held at December 31, 2020 and 2019, respectively. Additionally, effective December 31, 2020, the Company is a party to a coinsurance funds withheld reinsurance agreement under which identified assets are maintained in a funds withheld account but the interest and credit risk of these assets has been transferred to the reinsurer, representing a total return swap with a floating rate leg. Accordingly the Company bifurcates the embedded derivative from the host contract in accordance with ASC 815-15. The fair value of the embedded derivative funds withheld liability is computed as the unrealized gain (loss) on the underlying funds withheld assets and is included in the funds withheld liability on the Consolidated Balance Sheets, with changes in the fair value of embedded derivatives reported in the net realized investment gains in the Consolidated Statements of Earnings. Contributions to and withdrawals from the funds withheld liability are reported in operating activities in the Consolidated Statements of Cash Flows. The value of the embedded derivative at December 31, 2020 was $0 million. Mortgage Loans and Other Long-term Investments Mortgage loans and other long-term investments are stated at cost, less unamortized discounts, deferred fees, and allowances for possible losses. Policy loans are stated at their aggregate unpaid balances. Real estate is stated at the lower of cost or fair value less estimated costs to sell. As further disclosed under Accounting Standards and Changes in Accounting in this note, effective January 1, 2020, the Company implemented FASB ASU 2016-13, Financial Instruments-Credit Losses , which revises the credit loss recognition criteria for mortgage loans replacing the existing incurred loss recognition model with an expected loss recognition model (“CECL”). The objective of the CECL model is for the reporting entity to recognize its estimate of current expected credit losses for affected financial assets in a valuation allowance deducted from the amortized cost basis of the related financial assets that results in presenting the net carrying value of the financial assets at the amount expected to be collected. For mortgage loan investments the Company is using the Weighted Average Remaining Maturity ("WARM") method, which uses an average annual charge-off rate applied to each mortgage loan risk category. The WARM method is also used to calculate the CECL allowance on unfunded mortgage loan commitments. The CECL allowance on unfunded mortgage loan commitments is reported in other liabilities in the Consolidated Balance Sheets, with changes in the CECL allowance related to unfunded commitments recorded through Other operating expenses in the Consolidated Statements of Earnings. Prior to January 1, 2020, impaired loans were those loans where it is probable that all amounts due according to contractual terms of the loan agreement would not be collected. The Company identified these loans through its normal loan review procedures. Impaired loans included: 1) nonaccrual loans, 2) loans which were 90 days or more past due, unless they were well secured and were in the process of collection, and 3) other loans which management believed were impaired. Impaired loans were measured based on: 1) the present value of expected future cash flows discounted at the loan's effective interest rate, 2) the loan's observable market price, or 3) the fair value of the collateral if the loan is collateral dependent. When the Company had loans considered impaired substantially all were measured at the fair value of the collateral. In limited cases, the Company used other methods to determine the level of impairment of a loan if such loan was not collateral dependent. Mortgage loans were placed on non-accrual status if there were concerns regarding the collectability of future payments. Interest income on non-performing loans is generally recognized on a cash basis. Once mortgage loans are classified as nonaccrual loans, the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan has been restructured such that the collection of interest is considered likely. Accrued Investment Income The accrual of investment income on invested assets is discontinued when it is determined that it is probable that the income will not be collected. Realized Gains and Losses on Investments Realized gains and losses for securities available-for-sale and securities held-to-maturity are included in earnings and are derived using the specific identification method for determining the cost of securities sold or called. Prepayment penalty fees received from issuers that call their securities before maturity are excluded from the calculation of realized gain or loss and are included as a component of investment income. After an OTTI write down of fixed maturities due to a credit-only impairment, the cost basis is not adjusted for subsequent recoveries in fair value. For fixed maturities for which a reasonable estimate of future cash flows are available after a write down, the discount or reduced premium recorded, based on the new cost basis, is amortized over the remaining life of the security. Amortization in this instance is computed using the prospective method and the current estimate of the amount and timing of future cash flows. Fair Values Fair values of equity securities are based on quoted market prices in active markets when available. Fair values of fixed maturities are based on market prices in the fixed income markets. Fair values of derivative investments are based on the latest counterparty model market prices. Items not readily marketable are generally based on values that are representative of the fair values of comparable issues. Fair values for all securities are reviewed for reasonableness by considering overall market conditions and values for similar securities. See Note (4) Fair Values of Financial Instruments for more information on fair value policies, including assumptions and the amount of securities priced using the valuation models.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the Consolidated Statements of Cash Flows, the Company considers all short-term investments with a maturity at the date of purchase of three months or less to be cash equivalents.
Deferred Policy Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired	Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired Deferred policy acquisition costs ("DPAC") include certain costs of successfully acquiring new insurance business, including commissions and other expenses related directly to the production of new business, to the extent recoverable from future policy revenues and gross profits (indirect or unsuccessful acquisition costs, maintenance, product development and overhead expenses are charged to expenses as incurred). Also included are premium bonuses and bonus interest credited to contracts during the first contract year only. These deferred sales inducements ("DSI") are also deferrable to the extent recoverable. For interest sensitive universal life and annuity products, these costs are amortized in relation to the present value of expected gross margins or gross profits on these policies. For nonparticipating traditional life products, these costs are amortized over the premium paying period of the related policies, in proportion to the ratio of annual premium revenues to total anticipated premium revenues. Such anticipated premium revenues are estimated using the same assumptions used for computing liabilities for future policy benefits. The Company evaluates the recoverability of deferred policy acquisition and sales inducement costs on a quarterly basis. In this evaluation, the Company considers estimated future gross profits or future premiums, as applicable for the type of contract. The Company also considers expected mortality, interest earned and credited rates, persistency, and expenses. In accordance with GAAP guidance, the Company must also write off deferred policy acquisition costs and unearned revenue liabilities upon internal replacement of certain contracts as well as annuitizations of deferred annuities. All insurance and investment contract modifications and replacements are reviewed to determine if the internal replacement results in a substantially changed contract. If so, the acquisition costs, sales inducements and unearned revenue associated with the new contract are deferred and amortized over the lifetime of the new contract. In addition, the existing deferred policy acquisition costs, sales inducement costs and unearned revenue balances associated with the replaced contract are written off. If an internal replacement results in a substantially unchanged contract, the acquisition costs, sales inducements and unearned revenue associated with the new contract are immediately recognized in the period incurred. In addition, the existing deferred policy acquisition costs, sales inducement costs or unearned revenue balance associated with the replaced contract are not written off, but instead are carried over to the new contract . Amortization of DPAC and DSI is reviewed each year and adjusted retrospectively through an unlocking process when estimates of current or future gross profits/margins (including the impact of investment gains and losses) to be realized from a group of products are revised.
Reinsurance	Reinsurance The Company cedes insurance and investment contracts under a coinsurance with funds withheld arrangement, following reinsurance accounting for transactions that provides indemnification against loss or liability relating to insurance risk. To meet risk transfer requirements, a reinsurance agreement must transfer insurance risk arising from uncertainties about both underwriting and timing risks. Cessions under reinsurance do not discharge the Company's obligations as the primary insurer. Assets and liabilities are presented on a gross basis on the Consolidated Balance Sheets. The funds withheld consist of a segregated portfolio of cash and invested assets which is sufficient to support the current balance of statutory reserves. The fair value of the funds withheld is recorded as a funds withheld liability and any excess or shortfall in relation to statutory reserves is settled periodically. Refer to Note (5) Reinsurance for more information.
Other Assets	Other Assets Other assets include property and equipment, primarily comprised of capitalized software costs, furniture and equipment and leasehold improvements, which are reported at cost less allowances for depreciation and amortization. Costs incurred in the preliminary stages of developing internal-use software as well as costs incurred post-implementation for maintenance are expensed. Capitalization of internal-use software costs occurs after management has authorized the project and it is probable that the software will be used as intended. Amortization of software costs begins after the software has been placed in production. Depreciation and amortization expense is computed primarily using the straight-line method over the estimated useful lives of the assets, which range from 3 to 39 years. Leasehold improvements are amortized over the lesser of the economic useful life of the improvement or the term of the lease. Capitalized software, property, and equipment had a carrying value of $155.9 million at December 31, 2020 and $153.6 million at December 31, 2019, and accumulated depreciation and amortization of $72.6 million at December 31, 2020 and $62.5 million at December 31, 2019. Depreciation and amortization expense for capitalized software, furniture and equipment, and leasehold improvements was $11.9 million, $10.7 million, and $11.1 million in 2020, 2019, and 2018, respectively. Other assets also include goodwill at December 31, 2020 and 2019 of $13.9 million related to the excess of the amounts paid to acquire companies over the fair value of other net tangible and intangible assets acquired. It represents the future economic benefits arising from assets acquired and liabilities assumed that could not be individually identified. Goodwill is not amortized but is subject to annual impairment analysis at the same time each year or more frequently if indicators are present. The Company annually reviews its goodwill balance to determine if indicators suggest an impairment may have occurred and would suggest the value has declined below the carrying value of goodwill. Refer to Note (7) Business Combinations for further information concerning the determination of goodwill.
Future Policy Benefits	Future Policy Benefits Under GAAP, the liability for future policy benefits on traditional products has been calculated using assumptions as to future mortality (based on the 1965-1970, 1975-1980, and 2001 Select and Ultimate mortality tables), interest ranging from 3.25% to 8.00%, and withdrawals based on Company experience. For universal life and annuity contracts, the liability for future policy benefits represents the account balance. Fixed-index products combine features associated with traditional fixed annuities and universal life contracts, with the option to have interest rates linked in part to an equity index. In accordance with GAAP guidance , the equity return component of such policy contracts must be identified separately and accounted for as embedded derivatives. The remaining portions of these policy contracts are considered the host contracts and are recorded separately as fixed annuity or universal life contracts. The host contracts are accounted for under GAAP guidance provisions that require debt instrument type accounting. The host contracts are recorded as discounted debt instruments that are accreted, using the effective yield method, to their minimum account values at their projected maturities or termination dates.
Other Policy Claims and Benefits	Other Policy Claims and Benefits Unearned revenue reserves are maintained that reflect the unamortized balance of charges assessed to interest sensitive contract holders which serve as compensation for services to be performed over future periods (policy premium loads). These charges have been deferred and are being recognized in income over the period benefited using the same assumptions and factors used to amortize deferred acquisition costs.
Stock Compensation	Share-based Compensation The Company accounts for share-based compensation under GAAP using liability accounting, and measures compensation cost using the fair value method at each reporting date. For stock appreciation rights, fair value is determined using an option pricing model that takes into account various information and assumptions including the Company's stock price, volatility, option price, vesting dates, exercise dates and projected lapses from forfeiture or termination.
Deferred Income Taxes	Deferred Income Taxes Federal income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance for deferred tax assets is provided if all or some portion of the deferred tax asset may not be realized. An increase or decrease in a valuation allowance that results from a change in circumstances that affects the realizability of the related deferred tax asset is included in income in the period the change occurs.
Recognition of Premiums, Contract Revenues and Costs	Recognition of Premiums, Contract Revenues and Costs Premiums on traditional life insurance products are recognized as revenues as they become due from policyholders. Benefits and expenses are matched with premiums in arriving at profits by providing for policy benefits over the lives of the policies and by amortizing costs over premium-paying periods of the policies.
Comprehensive Income	Comprehensive Income Comprehensive income includes net income, as well as other comprehensive income items not recognized through net income. Other comprehensive income includes unrealized gains and losses on available-for-sale securities as well as the underfunded obligations for certain retirement and postretirement benefit plans. These items are included in accumulated other comprehensive income, net of tax and other offsets, in stockholders’ equity. The changes in unrealized gains and losses reported in the Statement of Comprehensive Income (Loss), excludes net investment gains and losses included in net income that represent transfers from unrealized to realized gains and losses. These transfers are further discussed in Note (2) Investments
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. For example, significant estimates and assumptions are utilized in the valuation of investments, determination of credit losses and impairments of investments, recoverability and amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired, calculation of policyholder liabilities and accruals and determination of pension expense. It is reasonably possible that actual experience could differ from the estimates and assumptions utilized, which could have a material impact on the Consolidated Financial Statements.
Accounting Standards and Changes in Accounting	Accounting Standards and Changes in Accounting Recent accounting pronouncements not yet adopted In August 2018, the FASB issued ASU 2018-12 Financial Services-Insurance (Topic 944) - Targeted Improvements to the Accounting for Long-Duration Contracts ("LDTI"). This update is aimed at improving the Codification as it relates to long-duration contracts which will improve the timeliness of recognizing changes in the liability for future policy benefits, simplify accounting for certain market-based options, simplify the amortization of deferred acquisition costs, and improve the effectiveness of required disclosures. Amendments include the following: A. Require insurance entity to (1) review and update assumptions used to measure cash flows at least annually (with changes recognized in net income) and (2) update discount rate assumption at each reporting date (with changes recognized in other comprehensive income). B. Require insurance entity to measure all market risk benefits associated with deposit (i.e. account balance) contracts at fair value, with change in fair value attributable to change in instrument-specific credit risk recognized in other comprehensive income. C. Simplify amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins and require those balances be amortized on constant level basis over expected term of related contract. Deferred acquisition costs are required to be written off for unexpected contract terminations but are not subject to impairment test. D. Require insurance entity to add disclosures of disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities, and deferred acquisition costs. Insurance entity must also disclose information about significant inputs, judgments, assumptions, and methods used in measurement, including changes in those inputs, judgments, and assumptions, and the effect of those changes on measurement. In November 2020, the FASB released ASU 2020-11 Financial Services – Insurance (Topic 944) . The amendments in this Update deferred the effective date of adoption of ASU 2018-12 for all entities by one year. In particular, for public business entities, LDTI was made effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. During 2020, the Company performed a preliminary gap analysis, created a roadmap, and gathered data for implementation of this standard by the effective date. The Company is currently evaluating the impact of the new guidance on the Company's Consolidated Financial Statements. In December 2019, the FASB issued ASU 2019-12 Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740) , which simplifies various aspects of the income tax accounting guidance and will be applied using different approaches depending on the specific amendment. The amendments will be effective for fiscal periods beginning after December 15, 2020. Early adoption is permitted. The Company does not expect this guidance to have a material impact on the Consolidated Financial Statements and related disclosures upon adoption. Accounting pronouncements adopted In June 2016, the FASB released ASU 2016-13, Financial Instruments-Credit Losses , which revises the credit loss recognition criteria for certain financial assets measured at amortized cost. The new guidance replaces the existing incurred loss recognition model with an expected loss recognition model (“CECL”). The objective of the CECL model is for the reporting entity to recognize its estimate of current expected credit losses for affected financial assets in a valuation allowance deducted from the amortized cost basis of the related financial assets that results in presenting the net carrying value of the financial assets at the amount expected to be collected. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments . The amendments in this Update add clarification and correction to ASU 2016-13 around accrued interest, transfers between classifications or categories for loans and debt securities, consideration of recoveries in estimating allowances, reinsurance recoveries, consideration of prepayments and estimated costs to sell when foreclosure is probable. In November, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. The amendments in this Update add clarification and correction to ASU 2016-13 around expected recoveries for purchased financial assets with credit deterioration, transition relief for troubled debt restructurings, disclosures related to accrued interest receivables, and financial assets secured by collateral maintenance provisions. The guidance for these pronouncements was effective for interim and annual periods beginning after December 15, 2019, and for most affected instruments must be adopted using a modified retrospective approach, with a cumulative effect adjustment recorded to beginning retained earnings. Effective January 1, 2020, the Company adopted the expected loss recognition model related to mortgage loans, debt securities held to maturity and reinsurance recoverable using a modified retrospective approach. The change in accounting, net of tax, of $3.0 million was recorded as a charge to retained earnings in the first quarter of 2020 reflecting initial allowance for estimated credit losses balances of $1.2 million on mortgage loans and $3.3 million on debt securities held to maturity. The estimated credit losses for the reinsurance recoverable were immaterial to the financial statements, but are monitored on a quarterly basis for any changes. Refer to Note (2) Investments for more information. Certain disclosures required by ASU 2016-13 are not included in the Consolidated Financial Statements as the impact of this standard was not material. In April 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The new guidance simplifies the current two-step goodwill impairment test by eliminating Step 2 of the test. The new guidance requires a one-step impairment test in which an entity compares the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, if any. The amendments will be effective for annual goodwill impairment tests occurring after December 15, 2019. The Company elected to adopt the requirements of this update in its Consolidated Financial Statements for the year ended December 31, 2019. The adoption of this amendment did not have an impact on the Company’s results of operations or financial position. In August 2018, FASB issued ASU 2018-13 F air Value Measurement (Topic 820) Disclosure Framework - Changes to the Disclosure requirements for Fair Value Measurement. This update removed disclosures for 1) amount of and reasons for transfers between Level 1 and Level 2 for fair value hierarchy, 2) policy for timing of transfers between levels, 3) valuation process for Level 3 fair value measurements. This update also added disclosure requirement as follows: 1) changes in unrealized gains and losses for the period included in OCI for recurring Level 3 fair value measurements held at end of reporting period; 2) range and weighted average (or other reasonable quantitative measurement) of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments will be effective for interim periods beginning after December 15, 2019. The Company elected to adopt the requirements of this update in its Consolidated Financial Statements for the year ended December 31, 2019. The adoption of this amendment did not have an impact on the Company’s results of operations or financial position. In August 2018, FASB issued ASU 2018-14 Compensation-Retirement Benefits - Defined Benefit Plans-General (Subtopic 715-20) Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans . This update removed disclosures for 1) amounts in AOCI expected to be recognized as components of net periodic benefit cost over the next fiscal year, 2) amount and timing of plan assets expected to be returned to the employer, 3) related party disclosures about the amount of future annual benefits covered by insurance and annuity contracts and significant transactions between the employer or related parties and the plan, 4) the effects of a one-percentage-point change in assumed health care cost trend rates on the (a) aggregate of the service and interest cost components of the net periodic benefit costs and (b) benefit obligation for postretirement health care benefits. This update also added disclosures as follows: 1) weighted-average interest crediting rates for cash balance plans and other plans with promised crediting rates, 2) explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. Finally, this update clarified that the following information for defined benefit pension plans should be disclosed: 1) projected benefit obligation (PBO) and fair value of plan assets for plans with PBO in excess of plan assets, 2) accumulated benefit obligation (ABO) and fair value of plan assets for plans with ABOs in excess of plan assets. The amendments are effective for fiscal periods ending after December 31, 2020. The Company elected to adopt the requirements of this update in its Consolidated Financial Statements for the year ended December 31, 2019. The adoption of this amendment did not have an impact on the Company’s results of operations or financial position. In August 2018, the SEC released a final rule updating disclosure requirements, Disclosure Update and Simplification, which resulted in the additional interim disclosure of an analysis of changes in stockholders’ equity to be required for the current and comparative quarter and year-to-date interim periods. Registrants are required to provide an analysis of changes in each caption of stockholders’ equity and noncontrolling interests, which will be accompanied by dividends per share and in the aggregate for each class of shares. The disclosure must be presented in the form of a reconciliation, either as a separate statement or in the footnotes. The adoption of this rule in 2019 did not have a material effect on the results of operations or financial position of the Company as this information in year-to-date format was already provided. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities , which amends the amortization period for certain purchased callable debt securities held at a premium. The amortization period for premiums is being shortened to the earliest call date. This guidance was effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. The adoption of this ASU in 2019 did not have a material effect on the results of operations or financial position of the Company. In January 2018, the Company adopted ASU 2017-07 Compensation-Retirement Benefits (Topic 615): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . The new guidance requires that an employer that offers to its employees defined benefit pension or other postretirement benefit plans report the service cost component in the same line item or items as other compensation costs. The other components of net periodic benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item is not used, the line item used in the income statement to present the other components of net periodic benefit cost must be disclosed. In addition, the guidance allows only the service cost component to be eligible for capitalization when applicable. The adoption of the guidance did not have a material impact on the Company’s consolidated financial statements. The Company does not capitalize service costs. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The guidance requires companies to recognize revenue that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. As an insurance enterprise, the primary sources of revenue are excluded from this guidance, including insurance premiums, contract charges, and investment revenues. The Company has certain types of non-insurance and non-investment revenue from contracts with customers that fall under this guidance. These revenues are recognized when obligations under the terms of the contract are satisfied. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange for those services. For these revenues, the performance obligation is fulfilled as services are rendered. Revenues from contracts with customers identified under Topic 606 are not material, representing 2% of Company total revenues for the year ended December 31, 2017. The guidance was effective for reporting periods beginning after December 15, 2017 and was to be applied either on a full or modified retrospective basis. The adoption of this ASU did not have a material effect on the results of operations or financial position of the Company. In January 2016, the FASB released ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities. The main provisions of the update eliminate the available for sale classification of accounting for equity securities and to adjust the fair value disclosures for financial instruments carried at amortized costs such that the disclosed fair values represent an exit price as opposed to an entry price. The provisions of this update require that equity securities be carried at fair market value on the balance sheet and any periodic changes in value be recorded as adjustments directly to the income statement. The provisions of this update became effective for the Company beginning January 1, 2018. The prospective adoption of this update resulted in the reclassification of $4.4 million pertaining to unrealized gains, net of tax, out of accumulated other comprehensive income into retained earnings as a cumulative effect of a change in accounting principle, as shown in the Condensed Consolidated Statements of Changes in Stockholders' Equity. Equity securities, previously included in securities available for sale are now reported as a separate line item on the Consolidated Balance Sheet. The change in fair value of equity securities, previously reported in other comprehensive income, is now included in net investment income in the Condensed Consolidated Statements of Earnings. As the Company's equity securities holdings are not significant, the adoption of the requirements of this update did not have a material impact on the Company’s financial position, results of operations or cash flows. In May 2017, the FASB released ASU 2017-09, Compensation - Stock Compensation . The update provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Accounting Standards Codification ("ASC") Topic 718. An entity shall account for the effects of a modification described in ASC paragraphs 718-20-35-3 through 35-9, unless all the following are met: (1) The fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (2) The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and (3) The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The provisions of this update became effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. There was no impact to the Company’s financial position, results of operations or cash flows as the result of the adoption of this ASU. In July 2017, the FASB released ASU 2017-11, Earnings Per Share; Distinguishing Liabilities from Equity; and, Derivatives and Hedging . This update includes: (I) Accounting for Certain Financial Instruments with Down Round Features, and (II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interest with a Scope Exception. Part I of this update changes the classification analysis of certain equity-linked financial instruments with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. Part II of this update recharacterizes the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. Those amendments do not have an accounting effect. There was no impact to the Company’s financial position, results of operations or cash flows as the result of the adoption of this ASU. In June 2018, the FASB released ASU 2018-07 Compensation - Stock Compensation (Topic 718) - Improvements to Nonemployee Share-Based Payment Accounting . This update largely aligns the accounting for share-based payment awards issued to employees and nonemployees. Previously, nonemployee stock compensation was accounted for under Subtopic 505-50 but will now fall under Topic 718. Changes to the accounting for nonemployee awards include 1) measurement based on fair value of the equity instrument at grant date, rather than previous requirement to measure based on the more reliable option of the fair value of the consideration or the fair value of the equity instrument, 2) initial measurement at grant date, rather than the earlier of the date at which commitment for performance is reached or performance is complete, and 3) when performance conditions are present, the probability of satisfying performance conditions should be considered in measurement rather than the previous requirement to measure at the lowest aggregate fair value. The amendments in the new guidance were effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal period. There was no impact to the Company’s financial position, results of operations or cash flows as the result of the adoption of this ASU. In February 2016, the FASB issued new guidance on leasing transactions (ASU 2016-02, Leases - Topic 842 ). The new guidance was effective for the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, and requires a modified retrospective transition approach (subject to optional practical expedients). The new guidance requires a lessee to recognize assets and liabilities for leases with lease terms of more than 12 months. Leases are to be classified as finance or operating leases and both types of leases are to be recognized on the balance sheet. Lessor accounting remains largely unchanged from current guidance except for certain targeted changes. The new guidance also requires new qualitative and quantitative disclosures. Early adoption is permitted. The Company elected to early adopt the requirements of this update in its Consolidated Financial Statements for the year ended December 31, 2018. There was no material impact to the Company’s financial position, results of operations or cash flows as the result of the adoption of this ASU. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not, or are not believed by management to, have a material impact on the Company’s present or future Consolidated Financial Statements.

Significant Accounting Policies

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Unrealized Gains and Losses on Available-for-Sale Securities Reclassified out of Accumulated Other Comprehensive Income	The table below shows the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income for the years ended December 31, 2020, 2019 and 2018. Affected Line Item In the Consolidated Statements of Earnings Amount Reclassified from Accumulated Other Comprehensive Income Years Ended December 31, 2020 2019 2018 (In thousands) Other net investment gains (losses) $ 5,677 2,787 3,441 Net OTTI losses recognized in earnings — (7,847) — Earnings before Federal income taxes 5,677 (5,060) 3,441 Federal income taxes 1,192 (1,063) 723 Net earnings $ 4,485 (3,997) 2,718

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Components of Net Investment Income	The major components of net investment income are as follows: Years Ended December 31, 2020 2019 2018 (In thousands) Gross investment income: Debt and equity securities $ 373,479 403,372 399,645 Mortgage loans 13,162 12,595 12,066 Policy loans 3,361 3,539 3,185 Derivative gains (losses) 14,754 123,207 (80,004) Short term investments 2,160 2,974 2,249 Other investment income 12,698 13,057 13,289 Total investment income 419,614 558,744 350,430 Less investment expenses 2,412 3,252 1,353 Net investment income $ 417,202 555,492 349,077
Schedule of Mortgage Loans by Geographic Region	The diversification of the portfolio by geographic region, property type, and loan-to-value ratio was as follows: December 31, 2020 December 31, 2019 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Geographic Region: West South Central $ 201,501 60.1 $ 191,089 70.0 East North Central 16,478 4.9 17,248 6.3 South Atlantic 51,857 15.5 35,698 13.1 East South Central 27,590 8.2 8,063 2.9 West North Central 12,423 3.7 12,505 4.6 Pacific 6,228 1.9 6,436 2.4 Middle Atlantic 1,975 0.6 2,058 0.7 Mountain 16,955 5.1 — — Gross balance 335,007 100.0 273,097 100.0 Allowance for credit losses (2,486) (0.7) (675) (0.2) Totals $ 332,521 99.3 $ 272,422 99.8
Schedule of Mortgage Loans by Property Type	December 31, 2020 December 31, 2019 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Property Type: Retail $ 92,173 27.5 $ 91,790 33.6 Office 111,735 33.3 95,362 34.9 Storage facility 53,591 16.0 30,619 11.2 Industrial 29,131 8.7 5,733 2.1 Hotel 8,372 2.5 8,997 3.3 Land/lots 4,680 1.4 4,829 1.8 Apartments 29,743 8.9 30,000 11.0 All other 5,582 1.7 5,767 2.1 Gross balance 335,007 100.0 273,097 100.0 Allowance for credit losses (2,486) (0.7) (675) (0.2) Totals $ 332,521 99.3 $ 272,422 99.8
Schedule of Mortgage Loans by Loan-to-Value Ratio	December 31, 2020 December 31, 2019 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 66,635 19.9 $ 52,778 19.3 50% to 60% 64,536 19.3 56,929 20.8 60% to 70% 153,414 45.8 117,377 43.0 70% to 80% 50,422 15.0 46,013 16.9 80% to 90% — — — — Gross balance 335,007 100.0 273,097 100.0 Allowance for credit losses (2,486) (0.7) (675) (0.2) Totals $ 332,521 99.3 $ 272,422 99.8 (1) Loan-to-Value Ratio is determined using the most recent appraised value. Appraisals are required at the time of funding and may be updated if a material change occurs from the original loan agreement.
Schedule of Allowance for Mortgage Loan	The following table represents the mortgage loan allowance for credit losses. Years Ended December 31, 2020 2019 (In thousands) Mortgage Loans Allowance for Credit Losses: Balance, beginning of the period $ 675 675 Impact of adoption of new accounting guidance 504 — Provision during the period 1,307 — Releases — — Balance, end of period $ 2,486 675
Schedule of Contractual Maturities of Mortgage Loan Principal Balances	The contractual maturities of mortgage loan principal balances at December 31, 2020 and 2019 were as follows: December 31, 2020 December 31, 2019 Amount % Amount % (In thousands) (In thousands) Principal Balance by Contractual Maturity: Due in one year or less $ 4,208 1.3 $ 497 0.2 Due after one year through five years 60,826 18.1 34,306 12.5 Due after five years through ten years 154,787 46.1 142,477 52.1 Due after ten years through fifteen years 107,662 32.1 96,359 35.2 Due after fifteen years 7,977 2.4 — — Totals $ 335,460 100.0 $ 273,639 100.0
Schedule of Amortized Costs and Fair Values of Securities Available for Sale	The table below presents amortized costs and fair values of debt securities available-for-sale at December 31, 2020. Debt Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses (In thousands) Debt securities: US government agencies $ 72,945 2,496 — 75,441 — US treasury 3,152 126 — 3,278 — States and political subdivisions 528,266 37,909 (86) 566,089 — Foreign governments 11,115 334 — 11,449 — Public utilities 831,990 77,920 — 909,910 — Corporate 7,376,104 727,470 (4,601) 8,098,973 — Commercial mortgage-backed 30,108 1,363 — 31,471 — Residential mortgage-backed 902,974 50,970 (156) 953,788 — Asset-backed 117,889 2,635 — 120,524 — Totals $ 9,874,543 901,223 (4,843) 10,770,923 — The table below presents amortized costs and fair values of debt securities available-for-sale at December 31, 2019. Debt Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 98,037 4,495 (3) 102,529 Foreign governments 9,983 203 — 10,186 Public utilities 67,895 3,476 — 71,371 Corporate 2,921,431 141,705 (2,479) 3,060,657 Commercial mortgage-backed 28,871 1,071 — 29,942 Residential mortgage-backed 12,815 1,077 (117) 13,775 Asset-backed 67,088 1,397 — 68,485 Totals $ 3,206,120 153,424 (2,599) 3,356,945
Schedule of Amortized Costs and Fair Values of Securities Held to Maturity	The table below presents amortized costs and fair values of debt securities held-to-maturity at December 31, 2019. Debt Securities Held-to-Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. agencies $ 100,910 1,686 — 102,596 U.S. Treasury 3,782 140 — 3,922 States and political subdivisions 431,433 19,440 (84) 450,789 Foreign governments 1,144 55 — 1,199 Public utilities 888,444 36,638 (83) 924,999 Corporate 4,607,826 212,281 (718) 4,819,389 Commercial mortgage-backed 3,032 52 — 3,084 Residential mortgage-backed 1,066,899 32,706 (716) 1,098,889 Asset-backed 2,775 62 (1) 2,836 Totals $ 7,106,245 303,060 (1,602) 7,407,703
Schedule of Gross Unrealized Losses and Fair Values of Available-for-Sale Investments, Continuous Unrealized Loss Position	The following table shows the gross unrealized losses and fair values of the Company's available-for-sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2020. Debt Securities Available-For-Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — 1,762 (86) 1,762 (86) Public utilities — — — — — — Corporate bonds 174,252 (3,836) 36,152 (765) 210,404 (4,601) Residential mortgage-backed — — 500 (156) 500 (156) Total $ 174,252 (3,836) 38,414 (1,007) 212,666 (4,843) The following table shows the gross unrealized losses and fair values of the Company's available-for-sale investments by investment category, and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2019. Debt Securities Available-For-Sale Less than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Debt securities: States and political subdivisions $ 470 (3) — — 470 (3) Public utilities — — — — — — Corporate bonds 40,080 (105) 28,582 (2,374) 68,662 (2,479) Residential mortgage-backed — — 710 (117) 710 (117) Total $ 40,550 (108) 29,292 (2,491) 69,842 (2,599)
Schedule of Gross Unrealized Losses and Fair Values of Held-to-Maturity Investments, Continuous Unrealized Loss Position	The following table shows the gross unrealized losses and fair values of the Company's held-to-maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2019. Debt Securities Held-to-Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ 5,013 (33) 1,712 (51) 6,725 (84) Public utilities 2,345 (83) — — 2,345 (83) Corporate bonds 31,419 (337) 17,191 (381) 48,610 (718) Residential mortgage-backed 25,859 (63) 43,498 (653) 69,357 (716) Asset-backed 1,349 (1) — — 1,349 (1) Total $ 65,985 (517) 62,401 (1,085) 128,386 (1,602)
Schedule of Amortized Cost and Fair Value of Investments In Debt Securities	The amortized cost and fair value of investments in debt securities at December 31, 2020, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Debt Securities Available-for-Sale Amortized Cost Fair Value (In thousands) Due in 1 year or less $ 686,634 695,720 Due after 1 year through 5 years 4,357,824 4,683,122 Due after 5 years through 10 years 2,441,991 2,755,827 Due after 10 years 1,337,123 1,530,471 8,823,572 9,665,140 Mortgage and asset-backed securities 1,050,971 1,105,783 Total before allowance for credit losses 9,874,543 10,770,923 Allowance for credit losses — — Total $ 9,874,543 10,770,923
Schedule of Realized Gains (Losses) Excluding Impairments	The table below details the nature of realized gains and losses, excluding impairments, during the year. Years Ended December 31, 2020 2019 2018 (In thousands) Available-for-sale debt securities: Realized gains on disposal $ 5,677 3,798 3,447 Realized losses on disposal — (1,011) (6) Held-to-maturity debt securities: Realized gains on redemption 12,734 4,390 3,208 Realized losses on redemption (1) — — Real estate 2,661 6,911 1,799 Mortgage loans — — (25) Other — — — Totals $ 21,071 14,088 8,423
Allowance for Debt Securities Held to Maturity	The following table presents the allowance for credit losses for December 31, 2020. December 31, 2020 Debt Securities Held-to-Maturity Debt Securities Available-for- Sale (In thousands) Balance, beginning of period $ — — Impact of adoption of new accounting guidance 3,334 — (Releases)/provision during period (3,334) — Balance, end of period $ — —
Allowance for Debt Securities Available for Sale	The following table presents the allowance for credit losses for December 31, 2020. December 31, 2020 Debt Securities Held-to-Maturity Debt Securities Available-for- Sale (In thousands) Balance, beginning of period $ — — Impact of adoption of new accounting guidance 3,334 — (Releases)/provision during period (3,334) — Balance, end of period $ — —
Schedule of Net Unrealized Gains (Losses) on Investment Securities	Net unrealized gains (losses) on investment securities included in stockholders' equity at December 31, 2020 and 2019, are as follows: December 31, 2020 2019 (In thousands) Gross unrealized gains $ 901,222 153,417 Gross unrealized losses (4,843) (2,603) Adjustments for: Deferred policy acquisition costs and sales inducements (366,327) (61,372) Deferred Federal income tax expense (111,311) (18,783) 418,741 70,659 Net unrealized gains related to securities transferred to held-to-maturity — — Net unrealized gains (losses) on investment securities $ 418,741 70,659

Derivative Investments (Tables)

Derivative Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The tables below present the fair value of derivative instruments. December 31, 2020 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments: Equity index options Derivatives, Index Options $ 132,821 Fixed-index products Universal Life and Annuity Contracts $ 161,351 Total $ 132,821 $ 161,351 December 31, 2019 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments: Equity index options Derivatives, Index Options $ 157,588 Fixed-index products Universal Life and Annuity Contracts $ 155,902 Total $ 157,588 $ 155,902
Schedule of Effect of Derivative Instruments in Consolidated Statements of Earnings	The table below presents the effect of derivative instruments in the Consolidated Statements of Earnings for the years ended December 31, 2020, 2019 and 2018. Amount of Gain or (Loss) Recognized In Income on Derivatives Derivatives Not Designated as Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives 2020 2019 2018 (In thousands) Equity index options Net investment income (loss) $ 14,754 123,207 (80,004) Fixed-index products Universal life and annuity contract interest (44,970) (91,424) 66,335 $ (30,216) 31,783 (13,669)

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of the date indicated. December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available-for-sale $ 10,770,923 — 10,770,923 — Equity securities 17,744 17,744 — — Derivatives, index options 132,821 — — 132,821 Total assets $ 10,921,488 17,744 10,770,923 132,821 Policyholder account balances (a) $ 161,351 — — 161,351 Other liabilities (b) 6,202 — — 6,202 Total liabilities $ 167,553 — — 167,553 December 31, 2019 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available-for-sale $ 3,356,945 — 3,356,945 — Equity securities 23,594 23,594 — — Derivatives, index options 157,588 — — 157,588 Other invested assets 2 2 — — Total assets $ 3,538,129 23,596 3,356,945 157,588 Policyholder account balances (a) $ 155,902 — — 155,902 Other liabilities (c) 15,301 — — 15,301 Total liabilities $ 171,203 — — 171,203 (a) Represents the fair value of certain product-related embedded derivatives that were recorded at fair value. (b) Represents the liability for share-based compensation. (c) Represents the liability for share-based compensation and contingent consideration for businesses acquired.
Schedule of Significant Unobservable Inputs for Fair Value Measurements	The following table provides additional information about fair value measurements for which significant unobservable inputs (Level 3) were utilized to determine fair value. December 31, 2020 Assets Other Liabilities Derivatives, Index Options Total Assets Policyholder Account Balances Share-based Comp Contingent Consideration Total Other Liabilities (In thousands) Beginning balance, January 1, 2020 $ 157,588 157,588 155,902 11,225 4,076 171,203 Total realized and unrealized gains (losses): Included in net earnings 14,754 14,754 44,970 (2,350) (4,076) 38,544 Included in other comprehensive income — — — — — — Purchases, sales, issuances and settlements, net: Purchases 61,837 61,837 61,837 — — 61,837 Sales — — — — — — Issuances — — — 164 — 164 Settlements (101,358) (101,358) (101,358) (2,837) — (104,195) Transfers into (out of) Level 3 — — — — — — Balance at end of period $ 132,821 132,821 161,351 6,202 — 167,553 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period: Net investment income $ 70,984 70,984 — — — — Benefits and expenses — — 70,984 (2,350) (4,076) 64,558 Total $ 70,984 70,984 70,984 (2,350) (4,076) 64,558 December 31, 2019 Assets Other Liabilities Derivatives, Index Options Total Assets Policyholder Account Balances Share-based Comp Contingent Consideration Total Other Liabilities (In thousands) Beginning balance, January 1, 2019 $ 14,684 14,684 44,781 11,923 — 56,704 Total realized and unrealized gains (losses): Included in net earnings 123,207 123,207 91,424 2,306 376 94,106 Included in other comprehensive income — — — — — — Purchases, sales, issuances and settlements, net: Purchases 76,928 76,928 76,928 — — 76,928 Sales — — — — — — Issuances — — — 115 3,700 3,815 Settlements (57,231) (57,231) (57,231) (3,119) — (60,350) Transfers into (out of) Level 3 — — — — — — Balance at end of period $ 157,588 157,588 155,902 11,225 4,076 171,203 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period: Net investment income $ 80,724 80,724 — — — — Benefits and expenses — — 80,724 2,306 376 83,406 Total $ 80,724 80,724 80,724 2,306 376 83,406
Schedule of Fair Value, Valuation Techniques and Significant Unobservable Inputs for Financial Instruments Categorized as Level 3	The following table presents the valuation method for financial assets and liabilities categorized as level 3, as well as the unobservable inputs used in the valuation of those financial instruments: December 31, 2020 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands) Assets: Derivatives, index options $ 132,821 Broker prices Implied volatility 12.96% - 53.69% (20.70%) Total assets $ 132,821 Liabilities: Policyholder account balances $ 161,351 Deterministic cash flow model Projected option cost 0.0% - 45.04% (3.27%) Share based compensation 6,202 Black-Scholes model Expected term 1.0 to 9.9 years Expected volatility 33.47% Total liabilities $ 167,553 December 31, 2019 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands) Assets: Derivatives, index options $ 157,588 Broker prices Implied volatility 13.10% - 19.90% (15.25%) Total assets $ 157,588 Liabilities: Policyholder account balances $ 155,902 Deterministic cash flow model Projected option cost 0.0% - 17.55% (3.14%) Share based compensation 11,225 Black-Scholes model Expected term 1.9 to 10 years Expected volatility 22.19% Contingent consideration on businesses acquired 4,076 Probabilistic Method Discount rate 10.0% Projected renewal premium $57.2 - $82.4 million ($71.9) Total liabilities $ 171,203
Schedule of Assets by Pricing Source and Fair Value Hierarchy Measured at Fair Value on Recurring Basis	The following table presents, by pricing source and fair value hierarchy level, the Company’s assets that are measured at fair value on a recurring basis: December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available-for-sale: Priced by third-party vendors $ 10,770,923 — 10,770,923 — Priced internally — — — — Subtotal 10,770,923 — 10,770,923 — Equity securities: Priced by third-party vendors 17,744 17,744 — — Priced internally — — — — Subtotal 17,744 17,744 — — Derivatives, index options: Priced by third-party vendors 132,821 — — 132,821 Priced internally — — — — Subtotal 132,821 — — 132,821 Total $ 10,921,488 17,744 10,770,923 132,821 Percent of total 100.0 % 0.2 % 98.6 % 1.2 %
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of the Company's financial instruments are as follows: December 31, 2020 Fair Value Hierarchy Level Carrying Fair Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities, available-for-sale $ 10,770,923 10,770,923 — 10,770,923 — Cash and cash equivalents 581,059 581,059 581,059 — — Mortgage loans 332,521 348,175 — — 348,175 Real estate 33,783 48,577 — — 48,577 Policy loans 74,083 121,260 — — 121,260 Other loans 23,396 23,691 — — 23,691 Derivatives, index options 132,821 132,821 — — 132,821 Equity securities 17,744 17,744 17,744 — — Life interest in Libbie Shearn Moody Trust 9,083 12,775 — — 12,775 Other invested assets 4,513 22,580 — 22,580 LIABILITIES Deferred annuity contracts $ 6,662,730 5,192,663 — — 5,192,663 Immediate annuity and supplemental contracts 412,526 467,538 — — 467,538 Contingent consideration on businesses acquired — — — — — December 31, 2019 Fair Value Hierarchy Level Carrying Fair Level 1 Level 2 Level 3 (In thousands) ASSETS Debt securities, held-to-maturity $ 7,106,245 7,407,703 — 7,407,703 — Debt securities, available-for-sale 3,356,945 3,356,945 — 3,356,945 — Cash and cash equivalents 253,524 253,524 253,524 — — Mortgage loans 272,422 270,931 — — 270,931 Real Estate 34,588 57,204 — — 57,204 Policy loans 80,008 123,650 — — 123,650 Other loans 13,547 13,698 — — 13,698 Derivatives, index options 157,588 157,588 — — 157,588 Equity Securities 23,594 23,594 23,594 — — Life interest in Libbie Shearn Moody Trust 9,230 12,775 — — 12,775 Other invested assets 197 16,182 2 — 16,180 LIABILITIES Deferred annuity contracts (1) $ 7,014,833 5,931,352 — — 5,931,352 Immediate annuity and supplemental contracts 400,465 422,931 — — 422,931 Contingent consideration on businesses acquired 4,076 4,076 — — 4,076 (1) Revised for an adjustment related to reserve liabilities of $15.0 million. See Note (1).

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Summary of Deferred Policy Acquisition Costs	A summary of information related to DPAC is provided in the following table: Years Ended December 31, 2020 2019 2018 (In thousands) Balance, beginning of year $ 723,972 841,704 819,511 Deferrals 69,857 64,824 84,094 Amortization, net of interest: Amortization, excluding unlocking, net of interest (107,917) (117,748) (115,721) Unlocking (22,358) 8,643 950 Adjustments related to unrealized gains (losses) (261,186) (73,451) 52,870 Reinsurance (20,288) — — Balance, end of year $ 382,080 723,972 841,704
Summary of Information Related to DSI	A summary of information related to DSI is provided in the following table: Years Ended December 31, 2020 2019 2018 (In thousands) Balance, beginning of year $ 104,359 133,714 135,570 Deferrals 10,344 3,160 7,546 Amortization, net of interest: Amortization, excluding unlocking, net of interest (22,808) (19,714) (21,569) Unlocking — (641) 1,270 Adjustments related to unrealized gains (losses) (43,557) (12,160) 10,897 Reinsurance (4,493) — — Balance, end of year $ 43,845 104,359 133,714
Schedule of Changes in VOBA	Changes in VOBA were as follows: Years Ended December 31, 2020 2019 (In thousands) Balance, beginning of year $ 138,071 — Business acquired — 145,768 Other increase 35,125 — Amortization: Amortization, excluding unlocking (10,228) (7,697) Balance as of end of year $ 162,968 138,071
Summary of Estimated Future Amortization of VOBA, Net of Interest	Estimated future amortization of VOBA, net of interest (in thousands), as of December 31, 2020, was as follows: 2021 $ 9,707 2022 9,214 2023 8,786 2024 8,402 2025 8,070

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Fair Value of Net Assets Acquired	The following table presents the fair values of the net assets acquired as of January 31, 2019. January 31, 2019 Assets Fair value (In thousands) Debt securities held to maturity $ 261,059 Debt securities available for sale 400,719 Policy loans 28,128 Real estate 4,600 Cash and cash equivalents 16,275 Accrued investment income 6,116 Value of business acquired 145,768 Reinsurance recoverables 21,895 Other intangible assets 9,600 Other assets acquired 12,075 Total assets acquired 906,235 Liabilities Traditional life reserves 691,297 Other policyholder liabilities 13,867 Other liabilities acquired 5,840 711,004 Net identifiable assets acquired 195,231 Goodwill 13,864 Net assets acquired $ 209,095
Schedule of Change in Carrying Amount of Goodwill by Reportable Segment	The changes in the carrying amount of goodwill (in thousands) were as follows: Year Ended December 31, 2020 2019 (In thousands) Gross goodwill as of beginning of year $ 13,864 — Goodwill resulting from business acquisition — 13,864 Gross goodwill, before impairments 13,864 13,864 Accumulated impairment as of beginning of year — — Current year impairments — — Net goodwill as of end of year $ 13,864 13,864
Schedule of Fair Value of Identifiable Intangible Assets Acquired	The following table presents the fair value of identifiable intangible assets acquired at January 31, 2019: Fair Value Weighted-Average Amortization Period (In thousands) Trademarks / trade names $ 2,800 15 Internally developed software 3,800 7 Insurance licenses 3,000 NA Total identifiable intangible assets $ 9,600 The gross carrying amounts and accumulated amortization for each specifically identifiable intangible asset were as follows. December 31, 2020 December 31, 2019 Weighted-Average Amortization Period Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Trademarks/trade names 15 $ 2,800 (358) 2,800 (171) Internally developed software 7 3,800 (1,040) 3,800 (498) Insurance licenses N/A 3,000 — 3,000 — $ 9,600 (1,398) 9,600 (669)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of December 31, 2020, expected amortization expenses relating to purchased intangible assets for each of the next 5 years and thereafter is as follows: Expected Amortization (In thousands) 2021 $ 730 2022 730 2023 730 2024 730 2025 730 Thereafter 1,552 $ 5,202
Schedule of Pro Forma Total Revenues and Net Earnings	The following unaudited comparative pro forma total revenues and net earnings represent Consolidated Results of Operations for the Company which assume amounts estimated had the acquisition of Ozark National and NIS been effective January 1, 2018. Pro forma results of operations include estimated revenue and net earnings of the acquired businesses for each period, as well as the amortization of identifiable intangible assets and fair value adjustments of acquired invested assets and traditional life insurance reserves as proxy to illustrate comparative yearly performance. The proxy was determined by using the ratio of the 2019 results of operations and the number of months since acquisition. Years Ended December 31, 2019 2018 (In thousands) Total revenues $ 828,846 667,392 Net earnings $ 133,175 134,858

Segment and Other Operating I_2

Segment and Other Operating Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Summary of Segment Information	A summary of segment information is provided below. Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) 2020: Selected Balance Sheet Items: Deferred policy acquisition costs, sales inducements, and value of business acquired $ 94,100 124,480 199,557 170,756 — 588,893 Total segment assets 3,242,794 1,034,280 7,976,588 1,117,509 382,149 13,753,320 Future policy benefits 1,337,174 798,952 7,028,860 768,433 — 9,933,419 Other policyholder liabilities 16,378 11,086 94,049 16,967 — 138,480 Condensed Income Statements: Premiums and contract revenues $ 53,834 88,167 17,025 78,921 — 237,947 Net investment income 54,516 27,273 290,576 26,383 18,454 417,202 Other revenues 58 67 43 10,118 8,236 18,522 Total revenues 108,408 115,507 307,644 115,422 26,690 673,671 Life and other policy benefits 18,471 14,084 31,043 67,739 — 131,337 Amortization of deferred policy acquisition costs and value of business acquired 17,661 24,929 87,133 10,780 — 140,503 Universal life and annuity contract interest 44,782 (2,087) 163,555 — — 206,250 Other operating expenses 25,730 17,829 36,870 18,454 5,701 104,584 Federal income taxes (benefit) 265 9,143 (1,649) 4,413 3,159 15,331 Total expenses 106,909 63,898 316,952 101,386 8,860 598,005 Segment earnings (loss) $ 1,499 51,609 (9,308) 14,036 17,830 75,666 Domestic Life Insurance International Life Insurance Annuities Acquired Businesses All Others Totals (In thousands) 2019: Selected Balance Sheet Items: Deferred policy acquisition costs, sales inducements, and value of business acquired $ 127,557 209,858 486,553 142,434 — 966,402 Total segment assets 1,399,818 1,153,105 8,198,730 978,243 362,900 12,092,796 Future policy benefits (1) 1,198,103 870,461 7,366,894 706,513 — 10,141,971 Other policyholder liabilities 18,016 14,903 80,002 14,686 — 127,607 Condensed Income Statements: Premiums and contract revenues $ 45,709 99,417 20,317 74,526 — 239,969 Net investment income 77,672 47,004 380,357 22,593 27,866 555,492 Other revenues 313 86 (34) 8,445 8,676 17,486 Total revenues 123,694 146,507 400,640 105,564 36,542 812,947 Life and other policy benefits 18,948 17,064 41,487 59,843 — 137,342 Amortization of deferred policy acquisition costs and value of business acquired 11,797 17,593 79,064 8,348 — 116,802 Universal life and annuity contract interest 69,849 48,561 176,920 — — 295,330 Other operating expenses 20,376 19,447 35,699 17,056 11,980 104,558 Federal income taxes (benefit) 561 9,024 13,888 3,700 5,056 32,229 Total expenses 121,531 111,689 347,058 88,947 17,036 686,261 Segment earnings (loss) $ 2,163 34,818 53,582 16,617 19,506 126,686 (1) Revised for an adjustment to reserve liabilities of $15.0 million. Refer to Note (1). Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) 2018: Selected Balance Sheet Items: Deferred policy acquisition costs and sales inducements $ 122,661 243,518 609,239 — 975,418 Total segment assets 1,215,864 1,211,036 8,791,463 370,118 11,588,481 Future policy benefits 1,039,150 894,891 7,810,245 — 9,744,286 Other policyholder liabilities 17,439 20,381 97,874 — 135,694 Condensed Income Statements: Premiums and contract revenues $ 40,879 108,923 23,694 — 173,496 Net investment income 23,579 22,603 276,123 26,772 349,077 Other revenues 19 87 66 20,431 20,603 Total revenues 64,477 131,613 299,883 47,203 543,176 Life and other policy benefits 21,688 22,333 21,276 — 65,297 Amortization of deferred policy acquisition costs 11,539 24,358 78,874 — 114,771 Universal life and annuity contract interest 8,826 24,590 102,639 — 136,055 Other operating expenses 20,731 19,593 32,584 21,061 93,969 Federal income taxes (benefit) 292 7,035 11,139 4,514 22,980 Total expenses 63,076 97,909 246,512 25,575 433,072 Segment earnings (loss) $ 1,401 33,704 53,371 21,628 110,104
Reconciliation of Segment Net Earnings to Consolidated Financial Statements	Reconciliations of segment information to the Company's Consolidated Financial Statements are provided below. Years Ended December 31, 2020 2019 2018 (In thousands) Premiums and Other Revenue : Premiums and contract revenues $ 237,947 239,969 173,496 Net investment income 417,202 555,492 349,077 Other revenues 18,522 17,486 20,603 Realized gains on investments 21,071 6,241 8,423 Total consolidated premiums and other revenue $ 694,742 819,188 551,599 Years Ended December 31, 2020 2019 2018 (In thousands) Net Earnings : Total segment earnings $ 75,666 126,686 110,104 Realized gains on investments, net of taxes 16,646 4,930 6,654 Total consolidated net earnings $ 92,312 131,616 116,758
Reconciliation of Segment Federal Income Taxes to Consolidated Financial Statements	Years Ended December 31, 2020 2019 2018 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 15,331 32,229 22,980 Taxes on realized gains on investments 4,425 1,311 1,769 Total consolidated Federal income taxes $ 19,756 33,540 24,749
Reconciliation of Segment Assets to Consolidated Financial Statements	December 31, 2020 2019 2018 (In thousands) Assets : Total segment assets $ 13,753,320 12,092,796 11,588,481 Other unallocated assets 894,950 460,651 343,210 Total consolidated assets $ 14,648,270 12,553,447 11,931,691
Schedule of Premiums and Contract Revenue Detailed by Country	Premiums and contract revenues detailed by country are provided below. Years Ended December 31, 2020 2019 2018 (In thousands) United States $ 165,233 156,330 82,614 Brazil 22,190 24,975 27,280 Taiwan 11,433 12,054 14,414 Venezuela 9,949 11,763 12,864 Peru 9,167 10,127 10,969 Chile 7,024 8,122 8,769 Other foreign countries 36,637 40,217 37,346 Revenues, excluding reinsurance premiums 261,633 263,588 194,256 Reinsurance premiums (23,686) (23,619) (20,760) Total premiums and contract revenues $ 237,947 239,969 173,496

Statutory Information (Tables)

Statutory Information (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Summary of Direct Premiums and Deposits Collected	A summary of direct premiums and deposits collected is provided below. Years Ended December 31, 2020 2019 2018 (In thousands) Annuity deposits $ 358,900 264,667 411,208 Universal life insurance deposits 267,809 266,600 278,971 Traditional life and other premiums 98,711 95,695 21,561 Totals $ 725,420 626,962 711,740
Summary of Net Gain from Operations, Net Income, Unassigned Surplus (Retained Earnings) and Capital and Surplus (Stockholders' Equity), on Statutory Basis Used to Report Regulatory Authorities	The table below provides the National Western and Ozark National net gain from operations, net income, unassigned surplus (retained earnings) and capital and surplus (stockholders' equity), on the statutory basis used to report to regulatory authorities for the years ended December 31. 2020 2019 2018 (In thousands) National Western Life Insurance Company: Net gain from operations before Federal and foreign income taxes $ 36,970 209,139 27,359 Net income $ 42,034 151,316 31,296 Unassigned surplus $ 1,461,100 1,485,424 1,374,963 Capital and surplus $ 1,505,163 1,529,487 1,419,026 Ozark National Life Insurance Company: Net gain from operations before Federal and foreign income taxes $ 24,976 22,870 — Net income $ 20,966 (854) — Unassigned surplus $ 50,054 29,452 — Capital and surplus $ 78,009 58,404 — The following assets, stated at amortized cost, were on deposit with state and other regulatory authorities, as required by law, at the end of each year. December 31, 2020 2019 (In thousands) National Western: Debt securities held-to-maturity $ — 14,261 Debt securities available-for-sale 15,283 1,037 Short-term investments 475 475 Total National Western 15,758 15,773 Ozark National: Debt securities held-to-maturity — 3,343 Debt securities available-for-sale 3,331 — Total Ozark National 3,331 3,343 Total $ 19,089 19,116

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Net earnings for the periods shown below are allocated between Class A shares and Class B shares based upon (1) the proportionate number of shares issued and outstanding as of the end of the period, and (2) the per share dividend rights of the two classes under the Company's Restated Certificate of Incorporation (the Class B dividend per share is equal to one-half the Class A dividend per share). Years Ended December 31, 2020 2019 2018 Class A Class B Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net earnings $ 92,312 131,616 116,758 Dividends – Class A shares (1,237) (1,237) (1,237) Dividends – Class B shares (36) (36) (36) Undistributed earnings $ 91,039 130,343 115,485 Allocation of net earnings: Dividends $ 1,237 36 1,237 36 1,237 36 Allocation of undistributed earnings 88,464 2,575 126,657 3,686 112,219 3,266 Net earnings $ 89,701 2,611 127,894 3,722 113,456 3,302 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,436 200 3,436 200 Effect of dilutive stock options — — — — — — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,436 200 3,436 200 3,436 200 Basic earnings per share $ 26.11 13.05 37.22 18.61 33.02 16.51 Diluted earnings per share $ 26.11 13.05 37.22 18.61 33.02 16.51

Comprehensive Income (Tables)

Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Components of Other Comprehensive Income (Loss)	Components of other comprehensive income (loss) for 2020, 2019 and 2018 and the related tax effect are detailed below. Amounts Before Taxes Tax (Expense) Amounts Net of Taxes (In thousands) 2020: Unrealized gains on securities, net of effects of deferred costs of $(304,955): Net unrealized holding gains (losses) arising during the period $ 446,280 (93,719) 352,561 Unrealized liquidity gains (losses) 8 (2) 6 Reclassification adjustment for net (gains) losses included in net earnings (5,677) 1,192 (4,485) Amortization of net unrealized gains (losses) related to transferred securities — — — Net unrealized gains (losses) on securities 440,611 (92,529) 348,082 Foreign currency translation adjustments 18 (4) 14 Benefit plan liability adjustment (16,182) 3,398 (12,784) Other comprehensive income (loss) $ 424,447 (89,135) 335,312 Amounts Before Taxes Tax (Expense) Benefit Amounts Net of Taxes (In thousands) 2019: Unrealized gains on securities, net of effects of deferred costs of $(85,609): Net unrealized holding gains (losses) arising during the period $ 122,726 (25,772) 96,954 Unrealized liquidity gains (losses) 4 (1) 3 Reclassification adjustment for net (gains) losses included in net earnings 5,060 (1,063) 3,997 Amortization of net unrealized gains (losses) related to transferred securities — — — Net unrealized gains (losses) on securities 127,790 (26,836) 100,954 Foreign currency translation adjustments 663 (139) 524 Benefit plan liability adjustment (5,513) 1,158 (4,355) Other comprehensive income (loss) $ 122,940 (25,817) 97,123 Amounts Before Taxes Tax (Expense) Benefit Amounts Net of Taxes (In thousands) 2018: Unrealized gains on securities, net of effects of deferred costs of $63,816: Net unrealized holding gains (losses) arising during the period $ (71,921) 15,103 (56,818) Unrealized liquidity gains (losses) 3 (1) 2 Reclassification adjustment for net (gains) losses included in net earnings (3,441) 723 (2,718) Amortization of net unrealized gains (losses) related to transferred securities — — — Net unrealized gains (losses) on securities (75,359) 15,825 (59,534) Foreign currency translation adjustments 1,714 (360) 1,354 Benefit plan liability adjustment 14,301 (3,003) 11,298 Other comprehensive income (loss) $ (59,344) 12,462 (46,882)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Changes in Shares of Common Stock Outstanding	Changes in shares of common stock outstanding are provided below. Years Ended December 31, 2020 2019 2018 (In thousands) Common stock shares outstanding: Shares outstanding at beginning of year 3,636 3,636 3,636 Shares exercised under stock option plan — — — Shares outstanding at end of year 3,636 3,636 3,636
Summary of Shares Available for Grant and Stock Options Activity	The following table shows all grants issued to officers and directors for the twelve months ended December 31, 2020 and 2019. These grants were made based upon the 20-day moving average closing market price of the Company's Class A common share at the grant date. Years Ended December 31, 2020 December 31, 2019 Officers Directors Officers Directors SARs 40,990 — 20,380 — RSUs 6,147 3,400 4,195 2,580 PSUs 9,324 — 6,427 — Options Outstanding Shares Available For Grant Shares Weighted-Average Exercise Price Stock Options: Balance at January 1, 2020 291,000 — $ — Exercised — — $ — Forfeited — — $ — Expired — — $ — Stock options granted — — $ — Balance at December 31, 2020 291,000 — $ —
Schedule of Other Share / Unit Awards Activity	Liability Awards Other Share/Unit Awards: SARs RSUs PSUs Balance at January 1, 2020 107,517 14,352 19,108 Exercised (1,372) (7,191) (4,150) Forfeited (2,887) (259) — Granted 40,990 9,547 9,324 Balance at December 31, 2020 144,248 16,449 24,282
Summary of Information About SARs Outstanding	The following table summarizes information about SARs outstanding at December 31, 2020. SARs Outstanding Number Outstanding Weighted-Average Remaining Contractual Life Number Exercisable Exercise prices: $132.56 19,118 1.0 year 19,118 $210.22 23,450 2.9 years 23,450 $216.48 11,149 5.1 years 11,149 $311.16 9,531 6.1 years 9,531 $310.55 203 6.3 years 203 $334.34 9,018 7.0 years 9,018 $303.77 11,233 8.0 years 7,483 $252.91 19,556 9.0 years 6,509 $192.10 40,990 9.9 years — Totals 144,248 86,461 Aggregate intrinsic value (in thousands) $ 2,000 $ 1,412
Summary of SARs / Options Outstanding Using Black-Scholes Option Pricing Model	In estimating the fair value of SARs outstanding at December 31, 2020 and 2019, the Company employed the Black-Scholes option pricing model with assumptions as detailed below. December 31, 2020 December 31, 2019 Expected term 1.0 to 9.9 years 1.9 to 10.0 years Expected volatility weighted-average 33.47 % 22.19 % Expected dividend yield 0.17 % 0.12 % Risk-free rate weighted-average 0.19 % 1.61 %

Pension and Other Postretirem_2

Pension and Other Postretirement Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Obligations and Funded Status	A detail of plan disclosures is provided below. Obligations and Funded Status December 31, 2020 2019 (In thousands) Changes in projected benefit obligations: Projected benefit obligations at beginning of year $ 22,689 21,938 Service cost 107 96 Interest cost 674 839 Plan amendments — — Actuarial (gain) loss 2,153 1,398 Benefits paid (1,696) (1,582) Projected benefit obligations at end of year 23,927 22,689 Changes in plan assets: Fair value of plan assets at beginning of year 18,512 16,169 Actual return on plan assets 2,910 3,356 Contributions 1,107 569 Benefits paid (1,696) (1,582) Fair value of plan assets at end of year 20,833 18,512 Funded status at end of year $ (3,094) (4,177) Obligations and Funded Status December 31, 2020 2019 (In thousands) Changes in projected benefit obligations: Projected benefit obligations at beginning of year $ 29,258 22,275 Service cost 1,209 502 Interest cost 1,350 1,025 Actuarial (gain) loss 21,736 7,438 Benefits paid (1,982) (1,982) Projected benefit obligations at end of year 51,571 29,258 Change in plan assets: Fair value of plan assets at beginning of year — — Contributions 1,982 1,982 Benefits paid (1,982) (1,982) Fair value of plan assets at end of year — — Funded status at end of year $ (51,571) (29,258) Obligations and Funded Status December 31, 2020 2019 (In thousands) Changes in projected benefit obligations: Projected benefit obligations at beginning of year $ 5,782 4,230 Interest cost 165 198 Actuarial (gain) loss 522 1,354 Benefits paid — — Projected benefit obligations at end of year 6,469 5,782 Changes in plan assets: Fair value of plan assets at beginning of year — — Contributions — — Benefits paid — — Fair value of plan assets at end of year — — Funded status at end of year $ (6,469) (5,782)
Schedule of Amounts Recognized in Consolidated Financial Statements and in Accumulated Other Comprehensive Income	December 31, 2020 2019 (In thousands) Amounts recognized in the Company's Consolidated Financial Statements: Assets $ — — Liabilities (3,094) (4,177) Net amount recognized $ (3,094) (4,177) Amounts recognized in accumulated other comprehensive income: Net (gain) loss $ 6,826 6,903 Prior service cost — — Net amount recognized $ 6,826 6,903 December 31, 2020 2019 (In thousands) Amounts recognized in the Company's Consolidated Financial Statements: Assets $ — — Liabilities (51,571) (29,258) Net amount recognized $ (51,571) (29,258) Amounts recognized in accumulated other comprehensive income: Net (gain) loss $ 26,476 10,521 Prior service cost 404 464 Net amount recognized $ 26,880 10,985 December 31, 2020 2019 (In thousands) Amounts recognized in the Company's Consolidated Financial Statements: Assets $ — — Liabilities (6,469) (5,782) Net amount recognized $ (6,469) (5,782) Amounts recognized in accumulated other comprehensive income: Net (gain) loss $ 2,288 1,925 Prior service cost — — Net amount recognized $ 2,288 1,925
Schedule of Components of Net Periodic Benefit Cost	Components of Net Periodic Benefit Cost Years Ended December 31, 2020 2019 2018 (In thousands) Components of net periodic benefit costs: Interest cost $ 674 839 899 Service cost 107 96 111 Expected return on plan assets (1,261) (1,086) (1,300) Amortization of net loss (gain) 580 660 524 Net periodic benefit cost 100 509 234 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net loss (gain) 503 (872) Amortization of net loss (gain) (580) (660) Total recognized in other comprehensive income (77) (1,532) Total recognized in net periodic benefit cost and other comprehensive income $ 23 (1,023) Components of Net Periodic Benefit Cost Years Ended December 31, 2020 2019 2018 (In thousands) Components of net periodic benefit cost: Service cost $ 1,209 502 361 Interest cost 1,350 1,025 852 Amortization of prior service cost 59 59 59 Amortization of net loss (gain) 5,781 1,391 704 Net periodic benefit cost 8,399 2,977 1,976 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net loss (gain) 21,736 7,438 Amortization of prior service cost (59) (59) Amortization of net loss (gain) (5,781) (1,391) Total recognized in other comprehensive income 15,896 5,988 Total recognized in net periodic benefit cost and other comprehensive income $ 24,295 8,965 Components of Net Periodic Benefit Cost Years Ended December 31, 2020 2019 2018 (In thousands) Components of net periodic benefit cost: Interest cost $ 165 198 158 Amortization of prior service cost — 52 103 Amortization of net loss 158 244 151 Net periodic benefit cost 323 494 412 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net loss 522 1,354 Amortization of prior service cost — (52) Amortization of net loss (gain) (158) (244) Total recognized in other comprehensive income 364 1,058 Total recognized in net periodic benefit cost and other comprehensive income $ 687 1,552
Schedule of Assumptions Used	Assumptions December 31, 2020 2019 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.25 % 3.00 % Rate of compensation increase n/a n/a December 31, 2020 2019 2018 Weighted-average assumptions used to determine net periodic benefit cost: Discount rate 3.00 % 4.00 % 3.75 % Expected long-term return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase n/a n/a n/a Assumptions December 31, 2020 2019 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.25 % 3.00 % Rate of compensation increase 8.00 % 8.00 % December 31, 2020 2019 2018 Weighted-average assumptions used to determine net periodic benefit costs: Discount rate 3.00 % 4.00 % 3.75 % Expected long-term return on plan assets n/a n/a n/a Rate of compensation increase 8.00 % 8.00 % 8.00 %
Schedule of Allocation of Plan Assets	The following tables set forth the Company’s pension plan assets within the fair value hierarchy as of December 31, 2020 and 2019. December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Cash and cash equivalents $ 1,050 1,050 — — Equity securities Domestic 13,853 13,853 — — International 170 170 — — Debt securities Corporate bonds 5,759 — 5,759 — Other invested assets 1 1 — — Total $ 20,833 15,074 5,759 — December 31, 2019 Total Level 1 Level 2 Level 3 (In thousands) Cash and cash equivalents $ 756 756 — — Equity securities Domestic 11,853 11,853 — — International 172 172 — — Debt securities Corporate bonds 5,729 — 5,729 — Other invested assets 2 2 — — Total $ 18,512 12,783 5,729 —
Schedule of Pension Allocation by Type of Fund and Target Allocation	The plan’s weighted-average asset allocations by asset category have been as follows: December 31, 2020 2019 2018 Asset Category: Equity securities 67% 65% 63% Debt securities 28% 31% 36% Cash and cash equivalents 5% 4% 1% Total 100% 100% 100%
Schedule of Acceptable Ranges for Each Asset as per Investment Policy Statement	The investment policy statement sets forth the following acceptable ranges for each asset's class. Acceptable Range Asset Category: Equity securities 55-70% Debt securities 30-40% Cash and cash equivalents 0-15%
Schedule of Estimated Future Benefit Payments	The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): 2021 $ 1,585 2022 1,561 2023 1,544 2024 1,459 2025 1,480 2026-2030 6,736 The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): 2021 $ 1,982 2022 1,982 2023 1,982 2024 1,982 2025 1,982 2026-2030 11,617
Defined Benefit Postretirement Healthcare Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Assumptions Used	Assumptions December 31, 2020 2019 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.25 % 3.00 % Expected long-term return on plan assets n/a n/a December 31, 2020 2019 2018 Weighted-average assumptions used to determine net periodic benefit costs: Discount rate 3.00 % 4.00 % 3.75 % Expected long-term return on plan assets n/a n/a n/a
Schedule of Estimated Future Benefit Payments	The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): 2021 $ — 2022 — 2023 — 2024 — 2025 — 2026-2030 1,216

Federal Income Taxes (Tables)

Federal Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Total Federal Income Taxes	Total Federal income taxes were allocated as follows: Years Ended December 31, 2020 2019 2018 (In thousands) Taxes (benefits) on earnings from continuing operations: Current $ (275) 58,834 (1,697) Deferred 20,031 (25,294) 26,446 Taxes on earnings 19,756 33,540 24,749 Taxes (benefits) on components of stockholders' equity: Net unrealized gains and losses on securities available-for-sale 92,528 26,836 (15,870) Foreign currency translation adjustments 4 139 360 Change in benefit plan liability (3,398) (1,158) 3,003 Change in accounting (806) — — Total Federal income taxes $ 108,084 59,357 12,242
Schedule of Differences and Corresponding Tax Effects	These differences and the corresponding tax effects are as follows: Years Ended December 31, 2020 2019 2018 (In thousands) Income tax expense at statutory rate of 21% $ 23,534 34,683 29,716 Dividend received deduction (401) (493) (820) Tax exempt interest (1,436) (1,564) (1,416) Non deductible salary expense 351 294 54 Adjustments pertaining to prior tax years (8) 459 (3,071) Nondeductible insurance 96 96 96 Nondeductible expenses 44 117 198 Tax rate differential for loss carryback (2,497) — — Other, net 73 (52) (8) Taxes on earnings from continuing operations $ 19,756 33,540 24,749
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2020 and 2019 are presented below. December 31, 2020 2019 (In thousands) Deferred tax assets: Future policy benefits, excess of financial accounting liabilities over tax liabilities $ 188,635 190,230 Investment securities write-downs for financial accounting purposes 649 293 Benefit plan liabilities 14,714 9,259 Accrued operating expenses recorded for financial accounting purposes not currently tax deductible 3,346 3,658 Accrued and unearned investment income recognized for tax purposes and deferred for financial accounting purposes 85 101 Other 2,172 636 Total gross deferred tax assets 209,601 204,177 Deferred tax liabilities: Deferred policy acquisition costs, sales inducement costs, and VOBA, principally expensed for tax purposes (153,742) (154,873) Tax reform reserve adjustment (43,687) (52,432) Debt securities, principally due to deferred market discount for tax (8,338) (8,051) Real estate, principally due to adjustments for financial accounting purposes (2,245) (45) Net unrealized gains on debt and equity securities (112,500) (20,188) Foreign currency translation adjustments (1,360) (1,356) Fixed assets, due to different depreciation bases (10,645) (6,177) Cost of reinsurance (21,596) — Other (614) (962) Total gross deferred tax liabilities (354,727) (244,084) Net deferred tax liabilities $ (145,126) (39,907)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Lease, Liability, Maturity	The Company's future annual lease obligations as of December 31, 2020 are as shown below (in thousands). 2021 $ 416 2022 430 Total minimum lease payments 846 Less: Interest (13) Present value of net minimum lease payments $ 833

Deposits with Regulatory Auth_2

Deposits with Regulatory Authorities Deposit with Regulatory Authorities (Tables)	12 Months Ended
	Dec. 31, 2020
Deposit with Regulatory Authorities [Abstract]
Summary of Assets Deposited with State and Other Regulatory Authorities	The table below provides the National Western and Ozark National net gain from operations, net income, unassigned surplus (retained earnings) and capital and surplus (stockholders' equity), on the statutory basis used to report to regulatory authorities for the years ended December 31. 2020 2019 2018 (In thousands) National Western Life Insurance Company: Net gain from operations before Federal and foreign income taxes $ 36,970 209,139 27,359 Net income $ 42,034 151,316 31,296 Unassigned surplus $ 1,461,100 1,485,424 1,374,963 Capital and surplus $ 1,505,163 1,529,487 1,419,026 Ozark National Life Insurance Company: Net gain from operations before Federal and foreign income taxes $ 24,976 22,870 — Net income $ 20,966 (854) — Unassigned surplus $ 50,054 29,452 — Capital and surplus $ 78,009 58,404 — The following assets, stated at amortized cost, were on deposit with state and other regulatory authorities, as required by law, at the end of each year. December 31, 2020 2019 (In thousands) National Western: Debt securities held-to-maturity $ — 14,261 Debt securities available-for-sale 15,283 1,037 Short-term investments 475 475 Total National Western 15,758 15,773 Ozark National: Debt securities held-to-maturity — 3,343 Debt securities available-for-sale 3,331 — Total Ozark National 3,331 3,343 Total $ 19,089 19,116

Unaudited Quarterly Financial_2

Unaudited Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Results and Impact on Quarterly Revenues due to Differences Between the Change in Fair Value of Derivative Investments	Quarterly results of operations for 2020 are summarized as follows: First Quarter Second Quarter Third Quarter Fourth Quarter (In thousands except per share data) 2020: Total revenues $ 52,488 216,015 202,702 223,537 Net earnings $ (2,062) 48,413 10,825 35,135 Basic earnings per share: Class A $ (0.58) 13.69 3.06 9.94 Class B $ (0.29) 6.85 1.53 4.97 Diluted earnings per share: Class A $ (0.58) 13.69 3.06 9.94 Class B $ (0.29) 6.85 1.53 4.97 Quarterly results of operations for 2019 are summarized as follows: First Quarter Second Quarter Third Quarter Fourth Quarter (In thousands except per share data) 2019: Total revenues $ 217,909 192,685 173,166 235,428 Net earnings $ 40,198 33,696 19,989 37,733 Basic earnings per share: Class A $ 11.37 9.53 5.65 10.67 Class B $ 5.68 4.76 2.83 5.34 Diluted earnings per share: Class A $ 11.37 9.53 5.65 10.67 Class B $ 5.68 4.76 2.83 5.34 Quarterly revenues reflect the differences between the change in fair value of derivative investments for each quarter corresponding to the performance of the indices upon which the Company's call options are based. The comparability of revenues is impacted by the application of fair value accounting to fixed-index business as follows: First Quarter Second Quarter Third Quarter Fourth Quarter (In thousands) 2020 $ (106,629) 40,243 31,520 49,620 2019 $ 42,003 17,828 3,296 60,080

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Schedule of Unrealized Gains and Losses on Available-for-Sale Securities Reclassified out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net investment gains (losses)									$ 21,071	$ 14,088	$ 8,423
Earnings before Federal income taxes									112,068	165,156	141,507
Federal income taxes									19,756	33,540	24,749
Net earnings	$ 35,135	$ 10,825	$ 48,413	$ (2,062)	$ 37,733	$ 19,989	$ 33,696	$ 40,198	92,312	131,616	116,758
Accumulated Other Comprehensive Income | Amount Reclassified from Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net investment gains (losses)									5,677	2,787	3,441
Net OTTI losses recognized in earnings									0	(7,847)	0
Earnings before Federal income taxes									5,677	(5,060)	3,441
Federal income taxes									1,192	(1,063)	723
Net earnings									$ 4,485	$ (3,997)	$ 2,718

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to deferred federal income tax liability	$ (145,126)	$ (36,767)
Increase (decrease) to retained earnings	2,102,577	2,014,570
Derivatives, index options	132,821	157,588
Unrealized gains (losses) on options held	14,754	123,207	$ (80,004)
Embedded derivative, fair value	0
Carrying value of capitalized software, property and equipment	155,900	153,600
Accumulated depreciation and amortization	72,600	62,500
Depreciation and amortization expense	11,900	10,700	11,100
Goodwill	13,900	13,900
Identifiable intangible assets acquired in business combination	8,200	8,900
Mortgage loans-allowance for possible losses	2,486	675
Debt securities held to maturity, allowance for credit losses	0	0
Stockholders' equity	2,539,750	2,116,430	1,900,777
Retained earnings:
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity	$ 2,102,577	2,014,570	1,896,040
Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in future policy benefits liability		15,000
Decrease to deferred federal income tax liability		3,200
Increase (decrease) to retained earnings		(11,800)
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to retained earnings		3,000
Mortgage loans-allowance for possible losses		1,200
Debt securities held to maturity, allowance for credit losses		3,334
Cumulative Effect, Period of Adoption, Adjustment | Retained earnings:
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity		(3,032)	$ 0	$ 4,414
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful lives of assets	3 years
Interest rate range to calculate future mortality	3.25%
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful lives of assets	39 years
Interest rate range to calculate future mortality	8.00%
Options Held
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unrealized gains (losses) on options held	$ 71,000	$ 80,700

Investments - Schedule of Compo

Investments - Schedule of Components of Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Derivative gains (losses)	$ 49,620	$ 31,520	$ 40,243	$ (106,629)	$ 60,080	$ 3,296	$ 17,828	$ 42,003
Total investment income									$ 419,614	$ 558,744	$ 350,430
Less investment expenses									2,412	3,252	1,353
Net investment income									417,202	555,492	349,077
Debt and equity securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income									373,479	403,372	399,645
Mortgage loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income									13,162	12,595	12,066
Policy loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income									3,361	3,539	3,185
Derivative gains (losses)
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Derivative gains (losses)									14,754	123,207	(80,004)
Short term investments
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income									2,160	2,974	2,249
Other investment income
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income									$ 12,698	$ 13,057	$ 13,289

Investments - Narrative (Detail

Investments - Narrative (Details) $ in Thousands	Dec. 31, 2020USD ($)loan	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 30, 2020USD ($)	Jan. 31, 2019USD ($)
Schedule of Investments [Line Items]
Loans originated during the year					$ 80,200	$ 121,400
Net investments in mortgage loans, after allowances for possible losses	$ 332,521				332,521	272,422
Mortgage loans-allowance for possible losses	2,486				2,486	675
Increase (decrease) to retained earnings	2,102,577				2,102,577	2,014,570
Real estate investments	104,113				104,113	62,090
Real estate gain (loss)					2,661	6,911	$ 1,799
Debt securities, available-for-sale	10,770,923				10,770,923	3,356,945
Realized gains on investments					21,071	6,241	8,423
Debt securities, held to maturity						7,106,245
Securities, other-than-temporarily impaired						7,800
Debt securities held to maturity, fair value	0				0	7,407,703
Transfer, fair value	7,300,000				7,300,000
Transfer, amortized cost	6,700,000				6,700,000
Gross Unrealized Gains	$ 600,000				$ 600,000	303,060
Loans In Forbearance
Schedule of Investments [Line Items]
Number of loans | loan	1				8
Loans receivable	$ 4,700				$ 4,700			$ 29,200
Cumulative Effect, Period of Adoption, Adjustment
Schedule of Investments [Line Items]
Mortgage loans-allowance for possible losses						1,200
Increase (decrease) to retained earnings						3,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13
Schedule of Investments [Line Items]
Increase (decrease) to retained earnings						400
Real Estate
Schedule of Investments [Line Items]
Real estate investments	33,800				33,800	34,600
Operating income recognized on real estate investment properties					2,900	2,900	2,200
Debt Securities
Schedule of Investments [Line Items]
Realized gains on investments					21,100	6,200	8,400
External Credit Rating, Non Investment Grade | Debt Securities
Schedule of Investments [Line Items]
Debt securities, available-for-sale	$ 303,500				$ 303,500	$ 83,700
Debt securities below investment grade, percentage of total invested assets	2.70%				2.70%	0.80%
Non- Income Producing
Schedule of Investments [Line Items]
Real estate investment	$ 400				$ 400	$ 400	$ 5,200
Nursing Home Operations in Reno, Nevada
Schedule of Investments [Line Items]
Real estate gain (loss)				$ 5,700
Nursing Home Operations, San Marcos, Texas
Schedule of Investments [Line Items]
Real estate gain (loss)			$ (2,000)
Prior Home Office
Schedule of Investments [Line Items]
Real estate gain (loss)		$ 3,200
Ozark National Life Insurance Company:
Schedule of Investments [Line Items]
Debt securities, available-for-sale	811,600				811,600	415,700
Debt securities, held to maturity	$ 0				0	$ 307,200
Ozark National Life Insurance Company: | Real Estate
Schedule of Investments [Line Items]
Real estate investments									$ 4,300
Travis County
Schedule of Investments [Line Items]
Gain on sale of property					$ 2,700

Investments - Schedule of Mortg

Investments - Schedule of Mortgage Loans by Geographic Region, Property Type and Loan-to-Value Ratio (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Allowance for credit losses, amount	$ (2,486)	$ (675)
Totals, amount	332,521	272,422
Commercial Real Estate
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 335,007	$ 273,097
Mortgage loans, percentage	100.00%	100.00%
Allowance for credit losses, amount	$ (2,486)	$ (675)
Allowance for credit losses, percentage	(0.70%)	(0.20%)
Totals, amount	$ 332,521	$ 272,422
Totals, percentage	99.30%	99.80%
Commercial Real Estate | Less than 50%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 66,635	$ 52,778
Mortgage loans, percentage	19.90%	19.30%
Commercial Real Estate | 50% to 60%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 64,536	$ 56,929
Mortgage loans, percentage	19.30%	20.80%
Commercial Real Estate | 60% to 70%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 153,414	$ 117,377
Mortgage loans, percentage	45.80%	43.00%
Commercial Real Estate | 70% to 80%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 50,422	$ 46,013
Mortgage loans, percentage	15.00%	16.90%
Commercial Real Estate | 80% to 90%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 0	$ 0
Mortgage loans, percentage	0.00%	0.00%
Commercial Real Estate | Retail
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 92,173	$ 91,790
Mortgage loans, percentage	27.50%	33.60%
Commercial Real Estate | Office
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 111,735	$ 95,362
Mortgage loans, percentage	33.30%	34.90%
Commercial Real Estate | Storage facility
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 53,591	$ 30,619
Mortgage loans, percentage	16.00%	11.20%
Commercial Real Estate | Industrial
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 29,131	$ 5,733
Mortgage loans, percentage	8.70%	2.10%
Commercial Real Estate | Hotel
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 8,372	$ 8,997
Mortgage loans, percentage	2.50%	3.30%
Commercial Real Estate | Land/lots
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 4,680	$ 4,829
Mortgage loans, percentage	1.40%	1.80%
Commercial Real Estate | Apartments
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 29,743	$ 30,000
Mortgage loans, percentage	8.90%	11.00%
Commercial Real Estate | All other
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 5,582	$ 5,767
Mortgage loans, percentage	1.70%	2.10%
Commercial Real Estate | West South Central
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 201,501	$ 191,089
Mortgage loans, percentage	60.10%	70.00%
Commercial Real Estate | East North Central
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 16,478	$ 17,248
Mortgage loans, percentage	4.90%	6.30%
Commercial Real Estate | South Atlantic
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 51,857	$ 35,698
Mortgage loans, percentage	15.50%	13.10%
Commercial Real Estate | East South Central
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 27,590	$ 8,063
Mortgage loans, percentage	8.20%	2.90%
Commercial Real Estate | West North Central
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 12,423	$ 12,505
Mortgage loans, percentage	3.70%	4.60%
Commercial Real Estate | Pacific
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 6,228	$ 6,436
Mortgage loans, percentage	1.90%	2.40%
Commercial Real Estate | Middle Atlantic
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 1,975	$ 2,058
Mortgage loans, percentage	0.60%	0.70%
Commercial Real Estate | Mountain
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate
Mortgage loans, amount	$ 16,955	$ 0
Mortgage loans, percentage	5.10%	0.00%

Investments - Schedule of Allow

Investments - Schedule of Allowance for Mortgage Loan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Mortgage Loans Allowance for Credit Losses:
Balance, beginning of the period	$ 675
Balance, end of period	2,486	$ 675
Commercial Mortgage Loans
Mortgage Loans Allowance for Credit Losses:
Balance, beginning of the period	675	675
Provision during the period	1,307	0
Releases	0	0
Balance, end of period	2,486	675
Cumulative Effect, Period of Adoption, Adjustment
Mortgage Loans Allowance for Credit Losses:
Balance, beginning of the period	1,200
Balance, end of period		1,200
Cumulative Effect, Period of Adoption, Adjustment | Commercial Mortgage Loans
Mortgage Loans Allowance for Credit Losses:
Balance, beginning of the period	$ 504	0
Balance, end of period		$ 504

Investments - Schedule of Contr

Investments - Schedule of Contractual Maturities of Mortgage Loan Principal Balances (Details) - Commercial Mortgage Loans - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Principal Balance by Contractual Maturity, Amount
Due in one year or less	$ 4,208	$ 497
Due after one year through five years	60,826	34,306
Due after five years through ten years	154,787	142,477
Due after ten years through fifteen years	107,662	96,359
Due after fifteen years	7,977	0
Totals	$ 335,460	$ 273,639
Principal Balance by Contractual Maturity, Percentage
Due in one year or less	1.30%	0.20%
Due after one year through five years	18.10%	12.50%
Due after five years through ten years	46.10%	52.10%
Due after ten years through fifteen years	32.10%	35.20%
Due after fifteen years	2.40%	0.00%
Totals	100.00%	100.00%

Investments - Schedule of Amort

Investments - Schedule of Amortized Costs and Fair Values of Securities Available for Sale and Gross Unrealized Losses and Fair Values of Available-for-Sale Investments, Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt securities:
Total before allowance for credit losses	$ 9,874,543	$ 3,206,120
Gross Unrealized Gains	901,223	153,424
Gross Unrealized Losses	(4,843)	(2,599)
Fair Value	10,770,923	3,356,945
Allowance for Credit Losses	0	0
Fair Value
Less than 12 Months	174,252	40,550
12 Months or Greater	38,414	29,292
Total	212,666	69,842
Unrealized Losses
Less than 12 Months	(3,836)	(108)
12 Months or Greater	(1,007)	(2,491)
Total	(4,843)	(2,599)
U.S. agencies
Debt securities:
Total before allowance for credit losses	72,945
Gross Unrealized Gains	2,496
Gross Unrealized Losses	0
Fair Value	75,441
Allowance for Credit Losses	0
U.S. Treasury
Debt securities:
Total before allowance for credit losses	3,152
Gross Unrealized Gains	126
Gross Unrealized Losses	0
Fair Value	3,278
Allowance for Credit Losses	0
States and political subdivisions
Debt securities:
Total before allowance for credit losses	528,266	98,037
Gross Unrealized Gains	37,909	4,495
Gross Unrealized Losses	(86)	(3)
Fair Value	566,089	102,529
Allowance for Credit Losses	0
Fair Value
Less than 12 Months	0	470
12 Months or Greater	1,762	0
Total	1,762	470
Unrealized Losses
Less than 12 Months	0	(3)
12 Months or Greater	(86)	0
Total	(86)	(3)
Foreign governments
Debt securities:
Total before allowance for credit losses	11,115	9,983
Gross Unrealized Gains	334	203
Gross Unrealized Losses	0	0
Fair Value	11,449	10,186
Allowance for Credit Losses	0
Public utilities
Debt securities:
Total before allowance for credit losses	831,990	67,895
Gross Unrealized Gains	77,920	3,476
Gross Unrealized Losses	0	0
Fair Value	909,910	71,371
Allowance for Credit Losses	0
Fair Value
Less than 12 Months	0	0
12 Months or Greater	0	0
Total	0	0
Unrealized Losses
Less than 12 Months	0	0
12 Months or Greater	0	0
Total	0	0
Corporate
Debt securities:
Total before allowance for credit losses	7,376,104	2,921,431
Gross Unrealized Gains	727,470	141,705
Gross Unrealized Losses	(4,601)	(2,479)
Fair Value	8,098,973	3,060,657
Allowance for Credit Losses	0
Fair Value
Less than 12 Months	174,252	40,080
12 Months or Greater	36,152	28,582
Total	210,404	68,662
Unrealized Losses
Less than 12 Months	(3,836)	(105)
12 Months or Greater	(765)	(2,374)
Total	(4,601)	(2,479)
Commercial mortgage-backed
Debt securities:
Total before allowance for credit losses	30,108	28,871
Gross Unrealized Gains	1,363	1,071
Gross Unrealized Losses	0	0
Fair Value	31,471	29,942
Allowance for Credit Losses	0
Residential mortgage-backed
Debt securities:
Total before allowance for credit losses	902,974	12,815
Gross Unrealized Gains	50,970	1,077
Gross Unrealized Losses	(156)	(117)
Fair Value	953,788	13,775
Allowance for Credit Losses	0
Fair Value
Less than 12 Months	0	0
12 Months or Greater	500	710
Total	500	710
Unrealized Losses
Less than 12 Months	0	0
12 Months or Greater	(156)	(117)
Total	(156)	(117)
Asset-backed
Debt securities:
Total before allowance for credit losses	117,889	67,088
Gross Unrealized Gains	2,635	1,397
Gross Unrealized Losses	0	0
Fair Value	120,524	$ 68,485
Allowance for Credit Losses	$ 0

Investments - Schedule of Amo_2

Investments - Schedule of Amortized Costs and Fair Values of Securities Held to Maturity and Gross Unrealized Losses and Fair Values of Held-to-Maturity Investments, Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		$ 7,106,245
Gross Unrealized Gains	$ 600,000	303,060
Gross Unrealized Losses		(1,602)
Fair Value	$ 0	7,407,703
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair value		65,985
Less than 12 Months, Unrealized losses		(517)
12 Months or Greater, Fair value		62,401
12 Months or Greater, Unrealized losses		(1,085)
Total, Fair value		128,386
Total, Unrealized losses		(1,602)
U.S. agencies
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		100,910
Gross Unrealized Gains		1,686
Gross Unrealized Losses		0
Fair Value		102,596
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized losses		0
U.S. Treasury
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		3,782
Gross Unrealized Gains		140
Gross Unrealized Losses		0
Fair Value		3,922
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized losses		0
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		431,433
Gross Unrealized Gains		19,440
Gross Unrealized Losses		(84)
Fair Value		450,789
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair value		5,013
Less than 12 Months, Unrealized losses		(33)
12 Months or Greater, Fair value		1,712
12 Months or Greater, Unrealized losses		(51)
Total, Fair value		6,725
Total, Unrealized losses		(84)
Foreign governments
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		1,144
Gross Unrealized Gains		55
Gross Unrealized Losses		0
Fair Value		1,199
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized losses		0
Public utilities
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		888,444
Gross Unrealized Gains		36,638
Gross Unrealized Losses		(83)
Fair Value		924,999
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair value		2,345
Less than 12 Months, Unrealized losses		(83)
12 Months or Greater, Fair value		0
12 Months or Greater, Unrealized losses		0
Total, Fair value		2,345
Total, Unrealized losses		(83)
Corporate
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		4,607,826
Gross Unrealized Gains		212,281
Gross Unrealized Losses		(718)
Fair Value		4,819,389
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair value		31,419
Less than 12 Months, Unrealized losses		(337)
12 Months or Greater, Fair value		17,191
12 Months or Greater, Unrealized losses		(381)
Total, Fair value		48,610
Total, Unrealized losses		(718)
Commercial mortgage-backed
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		3,032
Gross Unrealized Gains		52
Gross Unrealized Losses		0
Fair Value		3,084
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized losses		0
Residential mortgage-backed
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		1,066,899
Gross Unrealized Gains		32,706
Gross Unrealized Losses		(716)
Fair Value		1,098,889
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair value		25,859
Less than 12 Months, Unrealized losses		(63)
12 Months or Greater, Fair value		43,498
12 Months or Greater, Unrealized losses		(653)
Total, Fair value		69,357
Total, Unrealized losses		(716)
Asset-backed
Schedule of Held-to-maturity Securities [Line Items]
Total before allowance for credit losses		2,775
Gross Unrealized Gains		62
Gross Unrealized Losses		(1)
Fair Value		2,836
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair value		1,349
Less than 12 Months, Unrealized losses		(1)
12 Months or Greater, Fair value		0
12 Months or Greater, Unrealized losses		0
Total, Fair value		1,349
Total, Unrealized losses		$ (1)

Investments - Schedule of Amo_3

Investments - Schedule of Amortized Cost and Fair Value of Investments In Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities Available for Sale, Amortized Cost
Due in 1 year or less	$ 686,634
Due after 1 year through 5 years	4,357,824
Due after 5 years through 10 years	2,441,991
Due after 10 years	1,337,123
Total, excluding mortgage and asset-backed securities	8,823,572
Mortgage and asset-backed securities	1,050,971
Total before allowance for credit losses	9,874,543	$ 3,206,120
Allowance for Credit Losses	0	0
Total	9,874,543
Debt Securities Available for Sale, Fair Value
Due in 1 year or less	695,720
Due after 1 year through 5 years	4,683,122
Due after 5 years through 10 years	2,755,827
Due after 10 years	1,530,471
Total, excluding mortgage and asset-backed securities	9,665,140
Mortgage and asset-backed securities	1,105,783
Total	$ 10,770,923	$ 3,356,945

Investments - Schedule of Reali

Investments - Schedule of Realized Gains (Losses) Excluding Impairments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Available-for-sale debt securities:
Realized gains on disposal	$ 5,677	$ 3,798	$ 3,447
Realized losses on disposal	0	(1,011)	(6)
Held-to-maturity debt securities:
Realized gains on redemption	12,734	4,390	3,208
Realized losses on redemption	(1)	0	0
Real estate	2,661	6,911	1,799
Mortgage loans	0	0	(25)
Other	0	0	0
Other net investment gains (losses)	$ 21,071	$ 14,088	$ 8,423

Investments - Debt Securities A

Investments - Debt Securities Allowance For Credit Losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Debt Securities Held-to-Maturity
Beginning balance	$ 0
(Releases)/provision during period	(3,334)
Ending balance	0
Debt Securities Available-for- Sale
Beginning balance	0
(Releases)/provision during period	0
Ending balance	0
Cumulative Effect, Period of Adoption, Adjustment
Debt Securities Held-to-Maturity
Beginning balance	3,334
Debt Securities Available-for- Sale
Beginning balance	$ 0

Investments - Schedule of Net U

Investments - Schedule of Net Unrealized Gains (Losses) on Investment Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Gross unrealized gains	$ 901,222	$ 153,417
Gross unrealized losses	(4,843)	(2,603)
Deferred policy acquisition costs and sales inducements	(366,327)	(61,372)
Deferred Federal income tax expense	(111,311)	(18,783)
Adjustments for deferred expense, deferred policy acquisition and sales inducement cost	418,741	70,659
Net unrealized gains related to securities transferred to held-to-maturity	0	0
Net unrealized gains (losses) on investment securities	$ 418,741	$ 70,659

Derivative Investments - Schedu

Derivative Investments - Schedule of Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 132,821	$ 157,588
Liability Derivatives	161,351	155,902
Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Asset Derivatives	132,821	157,588
Liability Derivatives	161,351	155,902
Derivatives not designated as hedging instruments: | Equity index options | Derivatives, Index Options
Derivatives, Fair Value [Line Items]
Asset Derivatives	132,821	157,588
Derivatives not designated as hedging instruments: | Fixed-index products | Universal Life and Annuity Contracts
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 161,351	$ 155,902

Derivative Investments - Sche_2

Derivative Investments - Schedule of Effect of Derivative Instruments in Consolidated Statements of Earnings (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized In Income on Derivatives	$ 49,620	$ 31,520	$ 40,243	$ (106,629)	$ 60,080	$ 3,296	$ 17,828	$ 42,003
Change in the embedded derivative liability due to the expected collectability of asset management fees increased/(decreased) contract interest expense									$ 34,600	$ (33,600)	$ 17,600
Derivatives Not Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized In Income on Derivatives									(30,216)	31,783	(13,669)
Derivatives Not Designated as Hedging Instruments | Equity index options | Net investment income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized In Income on Derivatives									14,754	123,207	(80,004)
Derivatives Not Designated as Hedging Instruments | Fixed-index products | Universal life and annuity contract interest
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized In Income on Derivatives									$ (44,970)	$ (91,424)	$ 66,335

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 10,770,923	$ 3,356,945
Equity securities	17,744	23,594
Derivatives, index options	132,821	157,588
Other invested assets		2
Total assets	10,921,488	3,538,129
Policyholder account balances	161,351	155,902
Other liabilities	6,202	15,301
Total liabilities	$ 167,553	171,203
Percent of total	100.00%
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 0	0
Equity securities	17,744	23,594
Derivatives, index options	0	0
Other invested assets		2
Total assets	17,744	23,596
Policyholder account balances	0	0
Other liabilities	0	0
Total liabilities	$ 0	0
Percent of total	0.20%
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 10,770,923	3,356,945
Equity securities	0	0
Derivatives, index options	0	0
Other invested assets		0
Total assets	10,770,923	3,356,945
Policyholder account balances	0	0
Other liabilities	0	0
Total liabilities	$ 0	0
Percent of total	98.60%
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 0	0
Equity securities	0	0
Derivatives, index options	132,821	157,588
Other invested assets		0
Total assets	132,821	157,588
Policyholder account balances	161,351	155,902
Other liabilities	6,202	15,301
Total liabilities	$ 167,553	$ 171,203
Percent of total	1.20%
Priced by third-party vendors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 10,770,923
Equity securities	17,744
Derivatives, index options	132,821
Priced by third-party vendors | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Equity securities	17,744
Derivatives, index options	0
Priced by third-party vendors | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	10,770,923
Equity securities	0
Derivatives, index options	0
Priced by third-party vendors | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Equity securities	0
Derivatives, index options	132,821
Priced internally
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Equity securities	0
Derivatives, index options	0
Priced internally | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Equity securities	0
Derivatives, index options	0
Priced internally | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Equity securities	0
Derivatives, index options	0
Priced internally | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Equity securities	0
Derivatives, index options	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Fair Value Measurements for Level 3 Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	$ 157,588	$ 14,684
Total realized and unrealized gains (losses):
Included in net earnings	14,754	123,207
Included in other comprehensive income	0	0
Purchases, sales, issuances and settlements, net:
Purchases	61,837	76,928
Sales	0	0
Issuances	0	0
Settlements	(101,358)	(57,231)
Transfers into (out of) Level 3	0	0
Balance at end of period	132,821	157,588
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	70,984	80,724
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	171,203	56,704
Total realized and unrealized gains (losses):
Included in net earnings	38,544	94,106
Included in other comprehensive income	0	0
Purchases, sales, issuances and settlements, net:
Purchases	61,837	76,928
Sales	0	0
Issuances	164	3,815
Settlements	(104,195)	(60,350)
Transfers into (out of) Level 3	0	0
Balance at end of period	167,553	171,203
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	64,558	83,406
Net investment income
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	70,984	80,724
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	0	0
Benefits and expenses
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	0	0
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	64,558	83,406
Policyholder Account Balances
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	155,902	44,781
Total realized and unrealized gains (losses):
Included in net earnings	44,970	91,424
Included in other comprehensive income	0	0
Purchases, sales, issuances and settlements, net:
Purchases	61,837	76,928
Sales	0	0
Issuances	0	0
Settlements	(101,358)	(57,231)
Transfers into (out of) Level 3	0	0
Balance at end of period	161,351	155,902
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	70,984	80,724
Policyholder Account Balances | Net investment income
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	0	0
Policyholder Account Balances | Benefits and expenses
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	70,984	80,724
Share-based Comp
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	11,225	11,923
Total realized and unrealized gains (losses):
Included in net earnings	(2,350)	2,306
Included in other comprehensive income	0	0
Purchases, sales, issuances and settlements, net:
Purchases	0	0
Sales	0	0
Issuances	164	115
Settlements	(2,837)	(3,119)
Transfers into (out of) Level 3	0	0
Balance at end of period	6,202	11,225
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	(2,350)	2,306
Share-based Comp | Net investment income
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	0	0
Share-based Comp | Benefits and expenses
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	(2,350)	2,306
Contingent Consideration
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	4,076	0
Total realized and unrealized gains (losses):
Included in net earnings	(4,076)	376
Included in other comprehensive income	0	0
Purchases, sales, issuances and settlements, net:
Purchases	0	0
Sales	0	0
Issuances	0	3,700
Settlements	0	0
Transfers into (out of) Level 3	0	0
Balance at end of period	0	4,076
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	(4,076)	376
Contingent Consideration | Net investment income
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	0	0
Contingent Consideration | Benefits and expenses
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	(4,076)	376
Derivatives, Index Options
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	157,588	14,684
Total realized and unrealized gains (losses):
Included in net earnings	14,754	123,207
Included in other comprehensive income	0	0
Purchases, sales, issuances and settlements, net:
Purchases	61,837	76,928
Sales	0	0
Issuances	0	0
Settlements	(101,358)	(57,231)
Transfers into (out of) Level 3	0	0
Balance at end of period	132,821	157,588
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	70,984	80,724
Derivatives, Index Options | Net investment income
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	70,984	80,724
Derivatives, Index Options | Benefits and expenses
Purchases, sales, issuances and settlements, net:
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets/liabilities held at the end of the reporting period:	$ 0	$ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Fair Value, Valuation Techniques and Significant Unobservable Inputs for Financial Instruments Categorized as Level 3 (Details) $ in Thousands	Dec. 31, 2020USD ($)year	Dec. 31, 2019USD ($)year
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Derivatives, index options	$ 132,821	$ 157,588
Total assets	10,921,488	3,538,129
Total liabilities	167,553	171,203
Level 3
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Derivatives, index options	132,821	157,588
Total assets	132,821	157,588
Contingent consideration on businesses acquired	0	4,076
Total liabilities	167,553	171,203
Level 3 | Broker prices
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Derivatives, index options	132,821	157,588
Level 3 | Deterministic cash flow model
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Policyholder account balances	161,351	155,902
Level 3 | Black-Scholes model
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Share based compensation	$ 6,202	11,225
Level 3 | Probabilistic Method
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Contingent consideration on businesses acquired		$ 4,076
Implied volatility | Level 3 | Broker prices | Minimum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Derivatives, index options, measurement input	0.1296	0.1310
Implied volatility | Level 3 | Broker prices | Maximum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Derivatives, index options, measurement input	0.5369	0.1990
Implied volatility | Level 3 | Broker prices | Weighted Average
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Derivatives, index options, measurement input	0.2070	0.1525
Projected option cost | Level 3 | Deterministic cash flow model | Minimum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Policyholder account balances, measurement input	0	0
Projected option cost | Level 3 | Deterministic cash flow model | Maximum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Policyholder account balances, measurement input	0.4504	0.1755
Projected option cost | Level 3 | Deterministic cash flow model | Weighted Average
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Policyholder account balances, measurement input	0.0327	0.0314
Expected term | Level 3 | Black-Scholes model | Minimum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Share based compensation, measurement input | year	1	1.9
Expected term | Level 3 | Black-Scholes model | Maximum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Share based compensation, measurement input | year	9.9	10
Expected volatility | Level 3 | Black-Scholes model
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Share based compensation, measurement input	0.3347	0.2219
Discount rate | Level 3 | Probabilistic Method
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Contingent consideration on businesses acquired, measurement input		0.100
Projected renewal premium | Level 3 | Probabilistic Method | Minimum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Contingent consideration on businesses acquired, measurement input		57,200
Projected renewal premium | Level 3 | Probabilistic Method | Maximum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Contingent consideration on businesses acquired, measurement input		82,400
Projected renewal premium | Level 3 | Probabilistic Method | Weighted Average
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Contingent consideration on businesses acquired, measurement input		71,900

Fair Values of Financial Instru

Fair Values of Financial Instruments - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Debt securities, held-to-maturity	$ 0	$ 7,407,703
Debt securities, available-for-sale	10,770,923	3,356,945
Derivatives, index options	132,821	157,588
Equity securities	17,744	23,594
Restatement Adjustment
LIABILITIES
Future policy benefits		15,000
Carrying Values
ASSETS
Debt securities, held-to-maturity		7,106,245
Debt securities, available-for-sale	10,770,923	3,356,945
Cash and cash equivalents	581,059	253,524
Mortgage loans	332,521	272,422
Real estate	33,783	34,588
Policy loans	74,083	80,008
Other loans	23,396	13,547
Derivatives, index options	132,821	157,588
Equity securities	17,744	23,594
Life interest in Libbie Shearn Moody Trust	9,083	9,230
Other invested assets	4,513	197
LIABILITIES
Deferred annuity contracts	6,662,730	7,014,833
Immediate annuity and supplemental contracts	412,526	400,465
Contingent consideration on businesses acquired	0	4,076
Fair Values
ASSETS
Debt securities, held-to-maturity		7,407,703
Debt securities, available-for-sale	10,770,923	3,356,945
Cash and cash equivalents	581,059	253,524
Mortgage loans	348,175	270,931
Real estate	48,577	57,204
Policy loans	121,260	123,650
Other loans	23,691	13,698
Derivatives, index options	132,821	157,588
Equity securities	17,744	23,594
Life interest in Libbie Shearn Moody Trust	12,775	12,775
Other invested assets	22,580	16,182
LIABILITIES
Deferred annuity contracts	5,192,663	5,931,352
Immediate annuity and supplemental contracts	467,538	422,931
Contingent consideration on businesses acquired	0	4,076
Level 1
ASSETS
Debt securities, held-to-maturity		0
Debt securities, available-for-sale	0	0
Cash and cash equivalents	581,059	253,524
Mortgage loans	0	0
Real estate	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Equity securities	17,744	23,594
Life interest in Libbie Shearn Moody Trust	0	0
Other invested assets		2
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Contingent consideration on businesses acquired	0	0
Level 2
ASSETS
Debt securities, held-to-maturity		7,407,703
Debt securities, available-for-sale	10,770,923	3,356,945
Cash and cash equivalents	0	0
Mortgage loans	0	0
Real estate	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Equity securities	0	0
Life interest in Libbie Shearn Moody Trust	0	0
Other invested assets	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Contingent consideration on businesses acquired	0	0
Level 3
ASSETS
Debt securities, held-to-maturity		0
Debt securities, available-for-sale	0	0
Cash and cash equivalents	0	0
Mortgage loans	348,175	270,931
Real estate	48,577	57,204
Policy loans	121,260	123,650
Other loans	23,691	13,698
Derivatives, index options	132,821	157,588
Equity securities	0	0
Life interest in Libbie Shearn Moody Trust	12,775	12,775
Other invested assets	22,580	16,180
LIABILITIES
Deferred annuity contracts	5,192,663	5,931,352
Immediate annuity and supplemental contracts	467,538	422,931
Contingent consideration on businesses acquired	$ 0	$ 4,076

Reinsurance (Details)

Reinsurance (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effects of Reinsurance [Line Items]
Ceded to Other Companies	$ 4,013,073,000	$ 4,013,073,000	$ 4,252,828,000	$ 4,021,979,000
Amounts recoverable from reinsurers	1,709,232,000	1,709,232,000	42,428,000
Cost of reinsurance	$ 102,840,000	102,840,000	0
Prosperity Life Assurance Company
Effects of Reinsurance [Line Items]
Percentage of share of contractual statutory reserve liabilities	100.00%
Reinsurance, amount in force, coinsurance funds withheld basis	$ 1,700,000,000	1,700,000,000
Reinsurance, ceded commission	48,000,000	48,000,000
Amounts recoverable from reinsurers	1,700,000,000	1,700,000,000
National Western Life Insurance Company:
Effects of Reinsurance [Line Items]
Limit for reinsuring risk		500,000
Total life insurance in force	15,900,000,000	15,900,000,000	17,100,000,000
Ceded to Other Companies	3,500,000,000	3,500,000,000	3,700,000,000
Reinsurance receivable	8,600,000	8,600,000	20,700,000
Reinsurance premiums		21,000,000	21,100,000	20,800,000
Reinsurance recoveries		8,400,000	22,000,000	$ 31,200,000
Ozark National Life Insurance Company:
Effects of Reinsurance [Line Items]
Limit for reinsuring risk		200,000,000
Total life insurance in force	6,000,000,000	6,000,000,000	6,200,000,000
Ceded to Other Companies	500,000,000	500,000,000	500,000,000
Reinsurance receivable	$ 33,100,000	33,100,000	21,700,000
Reinsurance premiums		2,700,000	2,500,000
Reinsurance recoveries		$ 2,600,000	$ 2,200,000

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred policy acquisition costs, beginning of year	$ 723,972	$ 841,704	$ 819,511
Deferrals	69,857	64,824	84,094
Amortization, excluding unlocking, net of interest	(107,917)	(117,748)	(115,721)
Unlocking	(22,358)	8,643	950
Adjustments related to unrealized gains (losses)	(261,186)	(73,451)	52,870
Reinsurance	(20,288)	0	0
Deferred policy acquisition costs, end of year	382,080	723,972	841,704
Movement in Deferred Sales Inducements [Roll Forward]
Deferred sales inducements, beginning of year	104,359	133,714	135,570
Deferrals	10,344	3,160	7,546
Amortization, excluding unlocking, net of interest	(22,808)	(19,714)	(21,569)
Unlocking	0	(641)	1,270
Adjustments related to unrealized gains (losses)	(43,557)	(12,160)	10,897
Reinsurance	(4,493)	0	0
Deferred sales inducements, end of year	43,845	104,359	133,714
Movement Analysis Of Value Of Business Acquired [Roll Forward]
VOBA, beginning of year	138,071	0
Business acquired	0	145,768
Other increase	35,125	0
Amortization, excluding unlocking	(10,228)	(7,697)
VOBA, end of year	162,968	$ 138,071	$ 0
Present Value of Future Insurance Profits, Amortization Expense [Abstract]
2021	9,707
2022	9,214
2023	8,786
2024	8,402
2025	$ 8,070

Business Combinations - Narrati

Business Combinations - Narrative (Details) - Ozark National Life Insurance Company And NIS - USD ($)	Jan. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2020
Business Acquisition [Line Items]
Payments to acquire business	$ 205,400,000
Earn-out payment maximum	5,000,000
Contingent consideration on businesses acquired	$ 3,700,000	$ 4,100,000		$ 4,200,000
Acquisition-related costs		3,300,000	$ 1,000,000
Revenues of acquiree since acquisition date		106,200,000
Net earnings of acquiree since acquisition date		$ 17,100,000

Business Combinations - Schedul

Business Combinations - Schedule of Fair Value of Net Assets Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 31, 2019
Liabilities
Goodwill	$ 13,900	$ 13,900
Ozark National Life Insurance Company And NIS
Assets
Debt securities held to maturity			$ 261,059
Debt securities available for sale			400,719
Policy loans			28,128
Real estate			4,600
Cash and cash equivalents			16,275
Accrued investment income			6,116
Value of business acquired			145,768
Reinsurance recoverables			21,895
Other intangible assets			9,600
Other assets acquired			12,075
Total assets acquired			906,235
Liabilities
Traditional life reserves			691,297
Other policyholder liabilities			13,867
Other liabilities acquired			5,840
Total liabilities acquired			711,004
Net identifiable assets acquired			195,231
Goodwill	$ 13,864	$ 13,864	13,864
Net assets acquired			$ 209,095

Business Combinations - Goodwil

Business Combinations - Goodwill and Specifically Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Net goodwill as of end of year	$ 13,900	$ 13,900
Ozark National Life Insurance Company And NIS
Goodwill [Roll Forward]
Gross goodwill as of beginning of year	13,864	0
Goodwill resulting from business acquisition	0	13,864
Gross goodwill, before impairments	13,864	13,864
Accumulated impairment as of beginning of year	0	0
Current year impairments	0	0
Net goodwill as of end of year	$ 13,864	$ 13,864

Business Combinations - Sched_2

Business Combinations - Schedule of Fair Value of Identifiable Intangible Assets Acquired (Details) - Ozark National Life Insurance Company And NIS - USD ($) $ in Thousands	Jan. 31, 2019	Dec. 31, 2020
Business Acquisition [Line Items]
Fair value, finite-lived intangible assets acquired	$ 9,600
Trademarks / trade names
Business Acquisition [Line Items]
Fair value, finite-lived intangible assets acquired	$ 2,800
Weighted-Average Amortization Period	15 years	15 years
Internally developed software
Business Acquisition [Line Items]
Fair value, finite-lived intangible assets acquired	$ 3,800
Weighted-Average Amortization Period	7 years	7 years
Insurance licenses
Business Acquisition [Line Items]
Insurance licenses	$ 3,000

Business Combinations - Gross C

Business Combinations - Gross Carrying Amounts and Accumulated Amortization (Details) - Ozark National Life Insurance Company And NIS - USD ($) $ in Thousands	Jan. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Gross Carrying Amount		$ 9,600	$ 9,600
Accumulated Amortization		$ (1,398)	(669)
Trademarks/trade names
Business Acquisition [Line Items]
Weighted-Average Amortization Period	15 years	15 years
Gross Carrying Amount		$ 2,800	2,800
Accumulated Amortization		$ (358)	(171)
Internally developed software
Business Acquisition [Line Items]
Weighted-Average Amortization Period	7 years	7 years
Gross Carrying Amount		$ 3,800	3,800
Accumulated Amortization		(1,040)	(498)
Insurance licenses
Business Acquisition [Line Items]
Gross Carrying Amount		3,000	3,000
Accumulated Amortization		$ 0	$ 0

Business Combinations - Summary

Business Combinations - Summary of Expected Amortization Expenses (Details) - Ozark National Life Insurance Company And NIS $ in Thousands	Dec. 31, 2020USD ($)
Business Acquisition [Line Items]
2021	$ 730
2022	730
2023	730
2024	730
2025	730
Thereafter	1,552
Finite-lived intangible assets, net	$ 5,202

Business Combinations - Sched_3

Business Combinations - Schedule of Pro Forma Total Revenues and Net Earnings (Details) - Ozark National Life Insurance Company And NIS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Total revenues	$ 828,846	$ 667,392
Net earnings	$ 133,175	$ 134,858

Segment and Other Operating I_3

Segment and Other Operating Information - Operating Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Selected Balance Sheet Items:
Total segment assets	$ 14,648,270				$ 12,553,447				$ 14,648,270	$ 12,553,447	$ 11,931,691
Other policyholder liabilities	138,480				127,607				138,480	127,607
Condensed Income Statements:
Premiums and contract revenues									237,947	239,969	173,496
Net investment income									417,202	555,492	349,077
Other revenues									18,522	17,486	20,603
Realized gains on investments									21,071	6,241	8,423
Total revenues	223,537	$ 202,702	$ 216,015	$ 52,488	235,428	$ 173,166	$ 192,685	$ 217,909	694,742	819,188	551,599
Life and other policy benefits									131,337	137,342	65,297
Amortization of deferred policy acquisition costs and value of business acquired									140,503	116,802	114,771
Universal life and annuity contract interest									206,250	295,330	136,055
Other operating expenses									104,584	104,558	93,969
Federal income taxes (benefit)									19,756	33,540	24,749
Net earnings	35,135	$ 10,825	$ 48,413	$ (2,062)	37,733	$ 19,989	$ 33,696	$ 40,198	92,312	131,616	116,758
Restatement Adjustment
Selected Balance Sheet Items:
Future policy benefits					15,000					15,000
Segments
Selected Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	588,893				966,402				588,893	966,402	975,418
Total segment assets	13,753,320				12,092,796				13,753,320	12,092,796	11,588,481
Future policy benefits	9,933,419				10,141,971				9,933,419	10,141,971	9,744,286
Other policyholder liabilities	138,480				127,607				138,480	127,607	135,694
Condensed Income Statements:
Premiums and contract revenues									237,947	239,969	173,496
Net investment income									417,202	555,492	349,077
Other revenues									18,522	17,486	20,603
Total revenues									673,671	812,947	543,176
Life and other policy benefits									131,337	137,342	65,297
Amortization of deferred policy acquisition costs and value of business acquired									140,503	116,802	114,771
Universal life and annuity contract interest									206,250	295,330	136,055
Other operating expenses									104,584	104,558	93,969
Federal income taxes (benefit)									15,331	32,229	22,980
Total expenses									598,005	686,261	433,072
Net earnings									75,666	126,686	110,104
Segments | Domestic Life Insurance
Selected Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	94,100				127,557				94,100	127,557	122,661
Total segment assets	3,242,794				1,399,818				3,242,794	1,399,818	1,215,864
Future policy benefits	1,337,174				1,198,103				1,337,174	1,198,103	1,039,150
Other policyholder liabilities	16,378				18,016				16,378	18,016	17,439
Condensed Income Statements:
Premiums and contract revenues									53,834	45,709	40,879
Net investment income									54,516	77,672	23,579
Other revenues									58	313	19
Total revenues									108,408	123,694	64,477
Life and other policy benefits									18,471	18,948	21,688
Amortization of deferred policy acquisition costs and value of business acquired									17,661	11,797	11,539
Universal life and annuity contract interest									44,782	69,849	8,826
Other operating expenses									25,730	20,376	20,731
Federal income taxes (benefit)									265	561	292
Total expenses									106,909	121,531	63,076
Net earnings									1,499	2,163	1,401
Segments | International Life Insurance
Selected Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	124,480				209,858				124,480	209,858	243,518
Total segment assets	1,034,280				1,153,105				1,034,280	1,153,105	1,211,036
Future policy benefits	798,952				870,461				798,952	870,461	894,891
Other policyholder liabilities	11,086				14,903				11,086	14,903	20,381
Condensed Income Statements:
Premiums and contract revenues									88,167	99,417	108,923
Net investment income									27,273	47,004	22,603
Other revenues									67	86	87
Total revenues									115,507	146,507	131,613
Life and other policy benefits									14,084	17,064	22,333
Amortization of deferred policy acquisition costs and value of business acquired									24,929	17,593	24,358
Universal life and annuity contract interest									(2,087)	48,561	24,590
Other operating expenses									17,829	19,447	19,593
Federal income taxes (benefit)									9,143	9,024	7,035
Total expenses									63,898	111,689	97,909
Net earnings									51,609	34,818	33,704
Segments | Annuities
Selected Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	199,557				486,553				199,557	486,553	609,239
Total segment assets	7,976,588				8,198,730				7,976,588	8,198,730	8,791,463
Future policy benefits	7,028,860				7,366,894				7,028,860	7,366,894	7,810,245
Other policyholder liabilities	94,049				80,002				94,049	80,002	97,874
Condensed Income Statements:
Premiums and contract revenues									17,025	20,317	23,694
Net investment income									290,576	380,357	276,123
Other revenues									43	(34)	66
Total revenues									307,644	400,640	299,883
Life and other policy benefits									31,043	41,487	21,276
Amortization of deferred policy acquisition costs and value of business acquired									87,133	79,064	78,874
Universal life and annuity contract interest									163,555	176,920	102,639
Other operating expenses									36,870	35,699	32,584
Federal income taxes (benefit)									(1,649)	13,888	11,139
Total expenses									316,952	347,058	246,512
Net earnings									(9,308)	53,582	53,371
Segments | Acquired Businesses
Selected Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	170,756				142,434				170,756	142,434
Total segment assets	1,117,509				978,243				1,117,509	978,243
Future policy benefits	768,433				706,513				768,433	706,513
Other policyholder liabilities	16,967				14,686				16,967	14,686
Condensed Income Statements:
Premiums and contract revenues									78,921	74,526
Net investment income									26,383	22,593
Other revenues									10,118	8,445
Total revenues									115,422	105,564
Life and other policy benefits									67,739	59,843
Amortization of deferred policy acquisition costs and value of business acquired									10,780	8,348
Universal life and annuity contract interest									0	0
Other operating expenses									18,454	17,056
Federal income taxes (benefit)									4,413	3,700
Total expenses									101,386	88,947
Net earnings									14,036	16,617
Segments | All Others
Selected Balance Sheet Items:
Deferred policy acquisition costs, sales inducements, and value of business acquired	0				0				0	0	0
Total segment assets	382,149				362,900				382,149	362,900	370,118
Future policy benefits	0				0				0	0	0
Other policyholder liabilities	0				0				0	0	0
Condensed Income Statements:
Premiums and contract revenues									0	0	0
Net investment income									18,454	27,866	26,772
Other revenues									8,236	8,676	20,431
Total revenues									26,690	36,542	47,203
Life and other policy benefits									0	0	0
Amortization of deferred policy acquisition costs and value of business acquired									0	0	0
Universal life and annuity contract interest									0	0	0
Other operating expenses									5,701	11,980	21,061
Federal income taxes (benefit)									3,159	5,056	4,514
Total expenses									8,860	17,036	25,575
Net earnings									17,830	19,506	21,628
Segment Reconciling Items
Condensed Income Statements:
Taxes on realized gains on investments									4,425	1,311	1,769
Realized gains on investments, net of taxes									16,646	4,930	6,654
Other unallocated
Selected Balance Sheet Items:
Total segment assets	$ 894,950				$ 460,651				$ 894,950	$ 460,651	$ 343,210

Segment and Other Operating I_4

Segment and Other Operating Information - Geographic Information and Major Agency Relationships (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)customer	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Revenues, excluding reinsurance premiums	$ 261,633	$ 263,588	$ 194,256
Reinsurance premiums	(23,686)	(23,619)	(20,760)
Total premiums and contract revenues	$ 237,947	239,969	173,496
Annuities | National Western Life Insurance Company:
Segment Reporting Information [Line Items]
Number of customers | customer	2
Annuities | National Western Life Insurance Company: | Agency Two
Segment Reporting Information [Line Items]
Major customer, percentage of sales	15.00%
Annuities | National Western Life Insurance Company: | Agency Three
Segment Reporting Information [Line Items]
Major customer, percentage of sales	11.00%
Domestic Life Insurance | National Western Life Insurance Company:
Segment Reporting Information [Line Items]
Number of customers | customer	1
Domestic Life Insurance | National Western Life Insurance Company: | Agency One
Segment Reporting Information [Line Items]
Major customer, percentage of sales	55.00%
United States
Segment Reporting Information [Line Items]
Revenues, excluding reinsurance premiums	$ 165,233	156,330	82,614
Brazil
Segment Reporting Information [Line Items]
Revenues, excluding reinsurance premiums	22,190	24,975	27,280
Taiwan
Segment Reporting Information [Line Items]
Revenues, excluding reinsurance premiums	11,433	12,054	14,414
Venezuela
Segment Reporting Information [Line Items]
Revenues, excluding reinsurance premiums	9,949	11,763	12,864
Peru
Segment Reporting Information [Line Items]
Revenues, excluding reinsurance premiums	9,167	10,127	10,969
Chile
Segment Reporting Information [Line Items]
Revenues, excluding reinsurance premiums	7,024	8,122	8,769
Other foreign countries
Segment Reporting Information [Line Items]
Revenues, excluding reinsurance premiums	$ 36,637	$ 40,217	$ 37,346

Statutory Information - Summary

Statutory Information - Summary of Premiums and Deposits Collected (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Insurance [Abstract]
Annuity deposits	$ 358,900	$ 264,667	$ 411,208
Universal life insurance deposits	267,809	266,600	278,971
Traditional life and other premiums	98,711	95,695	21,561
Totals	$ 725,420	$ 626,962	$ 711,740

Statutory Information - Statuto

Statutory Information - Statutory Accounting Practices (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
National Western Life Insurance Company:
Statutory Accounting Practices [Line Items]
Net gain from operations before Federal and foreign income taxes	$ 36,970	$ 209,139	$ 27,359
Net income	42,034	151,316	31,296
Unassigned surplus	1,461,100	1,485,424	1,374,963
Capital and surplus	1,505,163	1,529,487	1,419,026
Ozark National Life Insurance Company:
Statutory Accounting Practices [Line Items]
Net gain from operations before Federal and foreign income taxes	24,976	22,870	0
Net income	20,966	(854)	0
Unassigned surplus	50,054	29,452	0
Capital and surplus	$ 78,009	$ 58,404	$ 0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator for Basic and Diluted Earnings Per Share:
Net earnings	$ 35,135	$ 10,825	$ 48,413	$ (2,062)	$ 37,733	$ 19,989	$ 33,696	$ 40,198	$ 92,312	$ 131,616	$ 116,758
Undistributed earnings									91,039	130,343	115,485
Allocation of net earnings:
Undistributed earnings									91,039	130,343	115,485
Net earnings	$ 35,135	$ 10,825	$ 48,413	$ (2,062)	$ 37,733	$ 19,989	$ 33,696	$ 40,198	92,312	131,616	116,758
Class A
Numerator for Basic and Diluted Earnings Per Share:
Net earnings									89,701	127,894	113,456
Dividends									(1,237)	(1,237)	(1,237)
Undistributed earnings									88,464	126,657	112,219
Allocation of net earnings:
Dividends									1,237	1,237	1,237
Undistributed earnings									88,464	126,657	112,219
Net earnings									$ 89,701	$ 127,894	$ 113,456
Denominator:
Basic earnings per share - weighted-average shares (in shares)									3,436	3,436	3,436
Effect of dilutive stock options (in shares)									0	0	0
Diluted earnings per share - adjusted weighted-average shares for assumed conversions (in shares)									3,436	3,436	3,436
Basic earnings per share (in dollars per share)	$ 9.94	$ 3.06	$ 13.69	$ (0.58)	$ 10.67	$ 5.65	$ 9.53	$ 11.37	$ 26.11	$ 37.22	$ 33.02
Diluted earnings per share (in dollars per share)	9.94	3.06	13.69	(0.58)	10.67	5.65	9.53	11.37	$ 26.11	$ 37.22	$ 33.02
Class B
Numerator for Basic and Diluted Earnings Per Share:
Net earnings									$ 2,611	$ 3,722	$ 3,302
Dividends									(36)	(36)	(36)
Undistributed earnings									2,575	3,686	3,266
Allocation of net earnings:
Dividends									36	36	36
Undistributed earnings									2,575	3,686	3,266
Net earnings									$ 2,611	$ 3,722	$ 3,302
Denominator:
Basic earnings per share - weighted-average shares (in shares)									200	200	200
Effect of dilutive stock options (in shares)									0	0	0
Diluted earnings per share - adjusted weighted-average shares for assumed conversions (in shares)									200	200	200
Basic earnings per share (in dollars per share)	4.97	1.53	6.85	(0.29)	5.34	2.83	4.76	5.68	$ 13.05	$ 18.61	$ 16.51
Diluted earnings per share (in dollars per share)	$ 4.97	$ 1.53	$ 6.85	$ (0.29)	$ 5.34	$ 2.83	$ 4.76	$ 5.68	$ 13.05	$ 18.61	$ 16.51

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Deferred costs	$ (304,955)	$ (85,609)	$ 63,816
Amounts Before Taxes
Net unrealized holding gains (losses) arising during the period	446,280	122,726	(71,921)
Unrealized liquidity gains (losses)	8	4	3
Reclassification adjustment for net (gains) losses included in net earnings	(5,677)	5,060	(3,441)
Amortization of net unrealized gains (losses) related to transferred securities	0	0	0
Net unrealized gains (losses) on securities	440,611	127,790	(75,359)
Foreign currency translation adjustments	18	663	1,714
Benefit plan liability adjustment	(16,182)	(5,513)	14,301
Other comprehensive income (loss)	424,447	122,940	(59,344)
Tax (Expense) Benefit
Net unrealized holding gains (losses) arising during the period	(93,719)	(25,772)	15,103
Unrealized liquidity gains (losses)	(2)	(1)	(1)
Reclassification adjustment for net (gains) losses included in net earnings	1,192	(1,063)	723
Amortization of net unrealized gains (losses) related to transferred securities	0	0	0
Net unrealized gains (losses) on securities	(92,529)	(26,836)	15,825
Foreign currency translation adjustments	(4)	(139)	(360)
Benefit plan liability adjustment	3,398	1,158	(3,003)
Other comprehensive income (loss)	(89,135)	(25,817)	12,462
Amounts Net of Taxes
Net unrealized holding gains (losses) arising during the period	352,561	96,954	(56,818)
Unrealized liquidity gains (losses)	6	3	2
Reclassification adjustment for net (gains) losses included in net earnings	(4,485)	3,997	(2,718)
Amortization of net unrealized gains (losses) related to transferred securities	0	0	0
Net unrealized gains (losses) on securities	348,082	100,954	(59,534)
Foreign currency translation adjustments	14	524	1,354
Benefit plan liability adjustment	(12,784)	(4,355)	11,298
Other comprehensive income (loss)	$ 335,312	$ 97,123	$ (46,882)

Stockholders' Equity - Changes

Stockholders' Equity - Changes in Shares of Common Stock Outstanding (Details) - Common Stock - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common stock shares outstanding:
Shares outstanding at beginning of year (in shares)	3,636	3,636	3,636
Shares exercised under stock option plan (in shares)	0	0	0
Shares outstanding at end of year (in shares)	3,636	3,636	3,636

Stockholders' Equity - Dividend

Stockholders' Equity - Dividend Restrictions (Details) - USD ($)	Oct. 30, 2020	Jan. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class A
Class of Stock [Line Items]
Dividends declared and paid					$ 1,237,000	$ 1,237,000	$ 1,237,000
Class B
Class of Stock [Line Items]
Dividends declared and paid					36,000	$ 36,000	$ 36,000
National Western Life Insurance Company:
Class of Stock [Line Items]
Maximum dividend payment which may be paid without prior approval					45,500,000
Dividends declared and paid				$ 32,000,000	0
National Western Life Insurance Company: | Dividend Declared
Class of Stock [Line Items]
Dividends declared and paid			$ 4,000,000
Ozark National Life Insurance Company:
Class of Stock [Line Items]
Maximum dividend payment which may be paid without prior approval					21,000,000
Extraordinary dividend paid		$ 102,700,000
NIS
Class of Stock [Line Items]
Maximum dividend payment					$ 4,500,000
National Western Life Group Inc | Class A
Class of Stock [Line Items]
Common stock, dividends declared (in dollars per share)	$ 0.36
National Western Life Group Inc | Class B
Class of Stock [Line Items]
Common stock, dividends declared (in dollars per share)	$ 0.18

Stockholders' Equity - Regulato

Stockholders' Equity - Regulatory Capital Requirements and Share-Based Payments - General Descriptions (Details) - USD ($)	Jun. 15, 2016	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 20, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period in force				90 days
Grant price (in dollars per share)				$ 192.10	$ 252.91
Compensation cost, liability balance				$ 6,200,000	$ 11,200,000
Intrinsic value of share-based compensation exercised				2,800,000	3,100,000	$ 4,700,000
Share-based compensation paid				2,800,000	3,100,000	4,700,000
Fair value of options vested				4,200,000	4,400,000	3,100,000
Proceeds from exercise of stock options				$ 0
Share price (in dollars per share)				$ 206.44
Pre-tax compensation cost (benefit) recognized				$ (2,200,000)	2,400,000	1,400,000
Compensation cost (benefit), tax expense (benefit)				500,000	(500,000)	(300,000)
Pre-tax compensation expense related to nonvested share-based awards not yet recognized				$ 9,100,000	$ 8,000,000	$ 7,100,000
Compensation cost related to nonvested options not yet recognized, weighted-average period of recognition				1 year 7 months 6 days
Employee Stock Appreciation Rights SARs | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage				33.30%
Requisite service period of awards				1 year
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Share-base payment, performance period				3 years
Performance outcome period				3 years
Award measurement period		3 years	3 years
Performance factor used to determine compensation payout		101.19%	93.86%
Employees | Employee Stock Appreciation Rights SARs Granted Before 2016 | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage				20.00%
Requisite service period of awards				3 years
Employees | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage				100.00%
Requisite service period of awards				3 years	3 years
Award vesting period				3 years
Directors | Employee Stock Options SARs | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage				20.00%
Requisite service period of awards				1 year
Directors | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period of awards				1 year
Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01
Award vesting price determining period				20 days
Class A | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting price determining period				20 days
Class A | Employees | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting price determining period				20 days
Class A | Directors | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting price determining period				20 days
Stock and Incentive Plan, 2008 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan extension term	10 years
Stock and Incentive Plan, 2008 Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)							$ 1
Share-based payments, number of shares authorized under plans (in shares)							300,000
National Western Life Insurance Company: | Colorado Division of Insurance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Current authorized control level RBC				$ 103,200,000
Capital and surplus				1,600,000,000
Ozark National Life Insurance Company: | Colorado Division of Insurance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Current authorized control level RBC				7,100,000
Capital and surplus				$ 81,400,000

Stockholders' Equity - Grants I

Stockholders' Equity - Grants Issued to Officers and Directors (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Officers | SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in the period (in shares)	40,990	20,380
Officers | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in the period (in shares)	6,147	4,195
Officers | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in the period (in shares)	9,324	6,427
Directors | SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in the period (in shares)	0	0
Directors | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in the period (in shares)	3,400	2,580
Directors | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in the period (in shares)	0	0

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Shares Available for Grant and Stock Options Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares Available For Grant
Beginning Balance (in shares)	291,000
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	0
Stock options granted (in shares)	0
Ending Balance (in shares)	291,000
Options Outstanding
Beginning Balance (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	0
Stock options granted (in shares)	0
Ending Balance (in shares)	0
Options Outstanding, Weighted-Average Exercise Price
Beginning Balance (in dollars per share) | $ / shares	$ 0
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	0
Stock options granted (in dollars per share) | $ / shares	0
Ending Balance (in dollars per share) | $ / shares	$ 0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Other Share / Unit Awards Activity (Details)	12 Months Ended
	Dec. 31, 2020shares
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance (in shares)	107,517
Exercised (in shares)	(1,372)
Forfeited (in shares)	(2,887)
Granted (in shares)	40,990
Ending balance (in shares)	144,248
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance (in shares)	14,352
Exercised (in shares)	(7,191)
Forfeited (in shares)	(259)
Granted (in shares)	9,547
Ending balance (in shares)	16,449
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance (in shares)	19,108
Exercised (in shares)	(4,150)
Forfeited (in shares)	0
Granted (in shares)	9,324
Ending balance (in shares)	24,282

Stockholders' Equity - Share-Ba

Stockholders' Equity - Share-Based Payments - Exercise Range (Details) - Stock Appreciation Rights (SARs) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding (in shares)	144,248
Number Outstanding, Aggregate intrinsic value | $	$ 2,000
Number Exercisable (in shares)	86,461
Number Exercisable, Aggregate intrinsic value | $	$ 1,412
132.56
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 132.56
Number Outstanding (in shares)	19,118
Weighted-Average Remaining Contractual Life	1 year
Number Exercisable (in shares)	19,118
210.22
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 210.22
Number Outstanding (in shares)	23,450
Weighted-Average Remaining Contractual Life	2 years 10 months 24 days
Number Exercisable (in shares)	23,450
216.48
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 216.48
Number Outstanding (in shares)	11,149
Weighted-Average Remaining Contractual Life	5 years 1 month 6 days
Number Exercisable (in shares)	11,149
311.16
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 311.16
Number Outstanding (in shares)	9,531
Weighted-Average Remaining Contractual Life	6 years 1 month 6 days
Number Exercisable (in shares)	9,531
310.55
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 310.55
Number Outstanding (in shares)	203
Weighted-Average Remaining Contractual Life	6 years 3 months 18 days
Number Exercisable (in shares)	203
334.34
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 334.34
Number Outstanding (in shares)	9,018
Weighted-Average Remaining Contractual Life	7 years
Number Exercisable (in shares)	9,018
303.77
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 303.77
Number Outstanding (in shares)	11,233
Weighted-Average Remaining Contractual Life	8 years
Number Exercisable (in shares)	7,483
252.91
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 252.91
Number Outstanding (in shares)	19,556
Weighted-Average Remaining Contractual Life	9 years
Number Exercisable (in shares)	6,509
192.10
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share) | $ / shares	$ 192.10
Number Outstanding (in shares)	40,990
Weighted-Average Remaining Contractual Life	9 years 10 months 24 days
Number Exercisable (in shares)	0

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of SARs / Options Outstanding Using Black-Scholes Option Pricing Model (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.17%	0.12%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	1 year	1 year 10 months 24 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	9 years 10 months 24 days	10 years
Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility weighted-average	33.47%	22.19%
Risk-free rate weighted-average	0.19%	1.61%

Information Regarding Control_2

Information Regarding Controlling Stockholder (Details)	Dec. 31, 2020
Class B | Chairman of the Board of Directors
Related Party Transaction [Line Items]
Ownership in the company	99.00%

Pension and Other Postretirem_3

Pension and Other Postretirement Plans - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)benefit_plan	Dec. 31, 2019USD ($)	Dec. 31, 2018	Dec. 31, 2007
Defined Benefit Plan Disclosure [Line Items]
Average rate of return	9.54%
Number of non-qualified defined benefit pension plan | benefit_plan	3
Number of healthcare plans | benefit_plan	2
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Vesting percentage in accrued benefits from plan freeze (in percentage)				100.00%
Actuarial gain (loss)	$ (2,153)	$ (1,398)
Discount rate	2.25%	3.00%	4.00%
Accumulated benefit obligation	$ 23,900	$ 22,700
Defined Benefit Pension Plans | Census Demographics
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	(587)	157
Defined Benefit Pension Plans | Change in Mortality
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	317	610
Defined Benefit Pension Plans | Difference in Expected and Actual Benefit Payments
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	(45)	16
Defined Benefit Pension Plans | Discount rate
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	(1,838)	(2,181)
Chairman and President Non-Qualified Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	$ (21,736)	$ (7,438)
Discount rate	2.25%	3.00%	4.00%
Accumulated benefit obligation	$ 27,000	$ 19,800
Rate of compensation increase	8.00%	8.00%	8.00%
Chairman and President Non-Qualified Defined Benefit Plans | Minimum
Defined Benefit Plan Disclosure [Line Items]
Rate of compensation increase	10.00%
Chairman and President Non-Qualified Defined Benefit Plans | Change in Mortality
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	$ 441	$ 295
Chairman and President Non-Qualified Defined Benefit Plans | Discount rate
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	(5,457)	(3,401)
Chairman and President Non-Qualified Defined Benefit Plans | Increases in Actual Compensation More Than Actuarial Assumption
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	(16,720)	(4,332)
Defined Benefit Postretirement Healthcare Plans
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	$ (522)	$ (1,354)
Discount rate	2.25%	3.00%	4.00%
Accumulated benefit obligation	$ 6,500	$ 5,800
Defined Benefit Postretirement Healthcare Plans | Change in Mortality
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	656	283
Defined Benefit Postretirement Healthcare Plans | Difference in Expected and Actual Benefit Payments
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	104	121
Defined Benefit Postretirement Healthcare Plans | Discount rate
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	(893)	(974)
Defined Benefit Postretirement Healthcare Plans | Claims/Healthcare Cost Trend Experience
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)	$ (389)	$ (784)

Pension and Other Postretirem_4

Pension and Other Postretirement Plans - Obligations and Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Pension Plans
Changes in projected benefit obligations:
Projected benefit obligations at beginning of year	$ 22,689	$ 21,938
Service cost	107	96	$ 111
Interest cost	674	839	899
Plan amendments	0	0
Actuarial (gain) loss	2,153	1,398
Benefits paid	(1,696)	(1,582)
Projected benefit obligations at end of year	23,927	22,689	21,938
Changes in plan assets:
Fair value of plan assets at beginning of year	18,512	16,169
Actual return on plan assets	2,910	3,356
Contributions	1,107	569
Benefits paid	(1,696)	(1,582)
Fair value of plan assets at end of year	20,833	18,512	16,169
Funded status at end of year	(3,094)	(4,177)
Chairman and President Non-Qualified Defined Benefit Plans
Changes in projected benefit obligations:
Projected benefit obligations at beginning of year	29,258	22,275
Service cost	1,209	502	361
Interest cost	1,350	1,025	852
Actuarial (gain) loss	21,736	7,438
Benefits paid	(1,982)	(1,982)
Projected benefit obligations at end of year	51,571	29,258	22,275
Changes in plan assets:
Fair value of plan assets at beginning of year	0	0
Contributions	1,982	1,982
Benefits paid	(1,982)	(1,982)
Fair value of plan assets at end of year	0	0	0
Funded status at end of year	(51,571)	(29,258)
Defined Benefit Postretirement Healthcare Plans
Changes in projected benefit obligations:
Projected benefit obligations at beginning of year	5,782	4,230
Interest cost	165	198	158
Actuarial (gain) loss	522	1,354
Benefits paid	0	0
Projected benefit obligations at end of year	6,469	5,782	4,230
Changes in plan assets:
Fair value of plan assets at beginning of year	0	0
Contributions	0	0
Benefits paid	0	0
Fair value of plan assets at end of year	0	0	$ 0
Funded status at end of year	$ (6,469)	$ (5,782)

Pension and Other Postretirem_5

Pension and Other Postretirement Plans - Amounts Recognized in Consolidated Financial Statements and Accumulated Other Comprehensive Income (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Pension Plans
Amounts recognized in the Company's Consolidated Financial Statements:
Assets	$ 0	$ 0
Liabilities	(3,094,000)	(4,177,000)
Net amount recognized	(3,094,000)	(4,177,000)
Amounts recognized in accumulated other comprehensive income:
Net (gain) loss	6,826,000	6,903,000
Prior service cost	0	0
Net amount recognized	6,826,000	6,903,000
Chairman and President Non-Qualified Defined Benefit Plans
Amounts recognized in the Company's Consolidated Financial Statements:
Assets	0	0
Liabilities	(51,571,000)	(29,258,000)
Net amount recognized	(51,571,000)	(29,258,000)
Amounts recognized in accumulated other comprehensive income:
Net (gain) loss	26,476,000	10,521,000
Prior service cost	404,000	464,000
Net amount recognized	26,880,000	10,985,000
Defined Benefit Postretirement Healthcare Plans
Amounts recognized in the Company's Consolidated Financial Statements:
Assets	0	0
Liabilities	(6,469,000)	(5,782,000)
Net amount recognized	(6,469,000)	(5,782,000)
Amounts recognized in accumulated other comprehensive income:
Net (gain) loss	2,288,000	1,925,000
Prior service cost	0	0
Net amount recognized	$ 2,288,000	$ 1,925,000

Pension and Other Postretirem_6

Pension and Other Postretirement Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Pension Plans
Components of net periodic benefit costs:
Interest cost	$ 674	$ 839	$ 899
Service cost	107	96	111
Expected return on plan assets	(1,261)	(1,086)	(1,300)
Amortization of net loss (gain)	580	660	524
Net periodic benefit cost	100	509	234
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	503	(872)
Amortization of net loss (gain)	(580)	(660)
Total recognized in other comprehensive income	(77)	(1,532)
Total recognized in net periodic benefit cost and other comprehensive income	23	(1,023)
Chairman and President Non-Qualified Defined Benefit Plans
Components of net periodic benefit costs:
Interest cost	1,350	1,025	852
Service cost	1,209	502	361
Amortization of prior service cost	59	59	59
Amortization of net loss (gain)	5,781	1,391	704
Net periodic benefit cost	8,399	2,977	1,976
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	21,736	7,438
Amortization of prior service cost	(59)	(59)
Amortization of net loss (gain)	(5,781)	(1,391)
Total recognized in other comprehensive income	15,896	5,988
Total recognized in net periodic benefit cost and other comprehensive income	24,295	8,965
Defined Benefit Postretirement Healthcare Plans
Components of net periodic benefit costs:
Interest cost	165	198	158
Amortization of prior service cost	0	52	103
Amortization of net loss (gain)	158	244	151
Net periodic benefit cost	323	494	$ 412
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	522	1,354
Amortization of prior service cost	0	(52)
Amortization of net loss (gain)	(158)	(244)
Total recognized in other comprehensive income	364	1,058
Total recognized in net periodic benefit cost and other comprehensive income	$ 687	$ 1,552

Pension and Other Postretirem_7

Pension and Other Postretirement Plans - Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Pension Plans
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.25%	3.00%	4.00%
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate	3.00%	4.00%	3.75%
Expected long-term return on plan assets	7.00%	7.00%	7.00%
Chairman and President Non-Qualified Defined Benefit Plans
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.25%	3.00%	4.00%
Rate of compensation increase	8.00%	8.00%
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate	3.00%	4.00%	3.75%
Rate of compensation increase	8.00%	8.00%	8.00%
Defined Benefit Postretirement Healthcare Plans
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.25%	3.00%	4.00%
Annual rate of increase in the per capita cost of covered health care benefits (in percentage)	8.00%
Decrease in annual rate of increase in the per capita cost of covered health care benefits (in percentage)	0.50%
Ultimate annual rate of increase in the per capita cost of covered health care benefits (in percentage)	5.00%
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate	3.00%	4.00%	3.75%

Pension and Other Postretirem_8

Pension and Other Postretirement Plans - Plan Assets (Details)	12 Months Ended
	Dec. 31, 2020USD ($)investment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Defined Benefit Pension Plans
Pension plan assets within the fair value hierachy
Fair value of plan assets	$ 20,833,000	$ 18,512,000	$ 16,169,000
Plan assets	$ 0	$ 0
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	100.00%	100.00%	100.00%
Defined Benefit Plan, Information about Plan Assets [Abstract]
Percentage pension assets not invested in cash or U.S. Government agencies (in percentage)	95.00%
Number of different investments | investment	231
Acceptable range for each asset class (in percentage)	4.80%
Defined Benefit Pension Plans | Level 1
Pension plan assets within the fair value hierachy
Fair value of plan assets	$ 15,074,000	$ 12,783,000
Defined Benefit Pension Plans | Level 2
Pension plan assets within the fair value hierachy
Fair value of plan assets	5,759,000	5,729,000
Defined Benefit Pension Plans | Level 3
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Defined Benefit Pension Plans | Cash and cash equivalents
Pension plan assets within the fair value hierachy
Fair value of plan assets	$ 1,050,000	$ 756,000
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	5.00%	4.00%	1.00%
Defined Benefit Pension Plans | Cash and cash equivalents | Level 1
Pension plan assets within the fair value hierachy
Fair value of plan assets	$ 1,050,000	$ 756,000
Defined Benefit Pension Plans | Cash and cash equivalents | Level 2
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Defined Benefit Pension Plans | Cash and cash equivalents | Level 3
Pension plan assets within the fair value hierachy
Fair value of plan assets	$ 0	$ 0
Defined Benefit Pension Plans | Equity securities
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	67.00%	65.00%	63.00%
Defined Benefit Pension Plans | Domestic
Pension plan assets within the fair value hierachy
Fair value of plan assets	$ 13,853,000	$ 11,853,000
Defined Benefit Pension Plans | Domestic | Level 1
Pension plan assets within the fair value hierachy
Fair value of plan assets	13,853,000	11,853,000
Defined Benefit Pension Plans | Domestic | Level 2
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Defined Benefit Pension Plans | Domestic | Level 3
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Defined Benefit Pension Plans | International
Pension plan assets within the fair value hierachy
Fair value of plan assets	170,000	172,000
Defined Benefit Pension Plans | International | Level 1
Pension plan assets within the fair value hierachy
Fair value of plan assets	170,000	172,000
Defined Benefit Pension Plans | International | Level 2
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Defined Benefit Pension Plans | International | Level 3
Pension plan assets within the fair value hierachy
Fair value of plan assets	$ 0	$ 0
Defined Benefit Pension Plans | Debt securities:
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	28.00%	31.00%	36.00%
Defined Benefit Pension Plans | Corporate bonds
Pension plan assets within the fair value hierachy
Fair value of plan assets	$ 5,759,000	$ 5,729,000
Defined Benefit Pension Plans | Corporate bonds | Level 1
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Defined Benefit Pension Plans | Corporate bonds | Level 2
Pension plan assets within the fair value hierachy
Fair value of plan assets	5,759,000	5,729,000
Defined Benefit Pension Plans | Corporate bonds | Level 3
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Defined Benefit Pension Plans | Other invested assets
Pension plan assets within the fair value hierachy
Fair value of plan assets	1,000	2,000
Defined Benefit Pension Plans | Other invested assets | Level 1
Pension plan assets within the fair value hierachy
Fair value of plan assets	1,000	2,000
Defined Benefit Pension Plans | Other invested assets | Level 2
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Defined Benefit Pension Plans | Other invested assets | Level 3
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0
Chairman and President Non-Qualified Defined Benefit Plans
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0	$ 0
Plan assets	0	0
Defined Benefit Postretirement Healthcare Plans
Pension plan assets within the fair value hierachy
Fair value of plan assets	0	0	$ 0
Plan assets	$ 0	$ 0
Minimum | Cash and cash equivalents
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	0.00%
Minimum | Equity securities
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	55.00%
Minimum | Debt securities:
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	30.00%
Maximum | Cash and cash equivalents
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	15.00%
Maximum | Equity securities
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	70.00%
Maximum | Debt securities:
Plan’s weighted-average asset allocations by asset category
Actual plan asset allocations	40.00%

Pension and Other Postretirem_9

Pension and Other Postretirement Plans - Contributions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year	$ 856
Expected voluntary contribution for next fiscal year	$ 856
Defined Benefit Pension Plans | Minimum
Defined Benefit Plan Disclosure [Line Items]
Adjusted funding target attainment percentage (in percentage)	80.00%
Chairman and President Non-Qualified Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year	$ 2,000

Pension and Other Postretire_10

Pension and Other Postretirement Plans - Estimated Future Benefit Payments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
2021	$ 1,585
2022	1,561
2023	1,544
2024	1,459
2025	1,480
2026-2030	6,736
Chairman and President Non-Qualified Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
2021	1,982
2022	1,982
2023	1,982
2024	1,982
2025	1,982
2026-2030	11,617
Defined Benefit Postretirement Healthcare Plans
Defined Benefit Plan Disclosure [Line Items]
2021	0
2022	0
2023	0
2024	0
2025	0
2026-2030	$ 1,216

Pension and Other Postretire_11

Pension and Other Postretirement Plans - Defined Contribution Pension Plans (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
National Western Life Insurance Company:
Defined Benefit Plan Disclosure [Line Items]
Additional company's matching contribution		4.00%	4.00%	4.00%
Non-Qualified Contribution Pension Plan | National Western Life Insurance Company:
Defined Benefit Plan Disclosure [Line Items]
Total company contribution, non-qualified deferred compensation		$ 175	$ 97	$ 127
Non-Qualified Contribution Pension Plan | Ozark National Life Insurance Company:
Defined Benefit Plan Disclosure [Line Items]
Total company contribution, non-qualified deferred compensation	$ 45	247
United States | Qualified Plan | National Western Life Insurance Company:
Defined Benefit Plan Disclosure [Line Items]
Total company contribution, 401(k) plan		720	$ 664	$ 615
United States | Qualified Plan | Ozark National Life Insurance Company:
Defined Benefit Plan Disclosure [Line Items]
Total company contribution, 401(k) plan	176	175
United States | Qualified Plan | NIS
Defined Benefit Plan Disclosure [Line Items]
Total company contribution, 401(k) plan	$ 30	$ 17

Federal Income Taxes - Schedule

Federal Income Taxes - Schedule of Total Federal Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Taxes (benefits) on earnings from continuing operations:
Current	$ (275)	$ 58,834	$ (1,697)
Deferred	20,031	(25,294)	26,446
Taxes on earnings from continuing operations	19,756	33,540	24,749
Taxes (benefits) on components of stockholders' equity	89,135	25,817	(12,462)
Total Federal income taxes	108,084	59,357	12,242
Net unrealized gains and losses on securities available-for-sale
Taxes (benefits) on earnings from continuing operations:
Taxes (benefits) on components of stockholders' equity	92,528	26,836	(15,870)
Foreign currency translation adjustments
Taxes (benefits) on earnings from continuing operations:
Taxes (benefits) on components of stockholders' equity	4	139	360
Change in benefit plan liability
Taxes (benefits) on earnings from continuing operations:
Taxes (benefits) on components of stockholders' equity	(3,398)	(1,158)	3,003
Change in accounting
Taxes (benefits) on earnings from continuing operations:
Taxes (benefits) on components of stockholders' equity	$ (806)	$ 0	$ 0

Federal Income Taxes - Schedu_2

Federal Income Taxes - Schedule of Differences and Corresponding Tax Effects (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Reconciliation
Federal statutory income tax rate	21.00%		21.00%
Income tax expense at statutory rate of 21%	$ 23,534	$ 34,683	$ 29,716
Dividend received deduction	(401)	(493)	(820)
Tax exempt interest	(1,436)	(1,564)	(1,416)
Non deductible salary expense	351	294	54
Adjustments pertaining to prior tax years	(8)	459	(3,071)
Nondeductible insurance	96	96	96
Nondeductible expenses	44	117	198
Tax rate differential for loss carryback	(2,497)	0	0
Other, net	73	(52)	(8)
Taxes on earnings from continuing operations	$ 19,756	$ 33,540	$ 24,749

Federal Income Taxes - Narrativ

Federal Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Permanent tax benefit percentage	14.00%
Permanent tax benefit	$ 2,497,000	$ 0	$ 0
Decrease to the net deferred tax liability			$ 500,000
Adjustment to tax reserves				$ 332,900,000
Federal statutory income tax rate	21.00%		21.00%
Deferred tax liability from Tax Act					$ 69,900,000
Annual adjustment to tax reserves				41,600,000
Annual income tax expense from adjustment to tax reserves				$ 8,700,000
Valuation allowances for deferred tax assets	$ 0	0
Reserve for uncertain tax positions	0
Accruals for interest or penalties related to unrecognized tax benefits	$ 0	$ 0

Federal Income Taxes - Schedu_3

Federal Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Future policy benefits, excess of financial accounting liabilities over tax liabilities	$ 188,635	$ 190,230
Investment securities write-downs for financial accounting purposes	649	293
Benefit plan liabilities	14,714	9,259
Accrued operating expenses recorded for financial accounting purposes not currently tax deductible	3,346	3,658
Accrued and unearned investment income recognized for tax purposes and deferred for financial accounting purposes	85	101
Other	2,172	636
Total gross deferred tax assets	209,601	204,177
Deferred tax liabilities:
Deferred policy acquisition costs, sales inducement costs, and VOBA, principally expensed for tax purposes	(153,742)	(154,873)
Tax reform reserve adjustment	(43,687)	(52,432)
Debt securities, principally due to deferred market discount for tax	(8,338)	(8,051)
Real estate, principally due to adjustments for financial accounting purposes	(2,245)	(45)
Net unrealized gains on debt and equity securities	(112,500)	(20,188)
Foreign currency translation adjustments	(1,360)	(1,356)
Fixed assets, due to different depreciation bases	(10,645)	(6,177)
Cost of reinsurance	(21,596)	0
Other	(614)	(962)
Total gross deferred tax liabilities	(354,727)	(244,084)
Net deferred tax liabilities	$ (145,126)	$ (39,907)

Short-Term Borrowing (Details)

Short-Term Borrowing (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2018
Short-term Debt [Line Items]
Collateral security deposit	110.00%
Outstanding borrowings	$ 0	$ 0
Amortized value of collateralized assets	95,100,000
Fair value of assets	98,800,000
Initial minimum required stock investment	4,300,000
MNB
Short-term Debt [Line Items]
Bank line of credit available to the company	$ 75,000,000		$ 40,000,000

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Nov. 11, 2019USD ($)	Jul. 27, 2019USD ($)	Nov. 11, 2018USD ($)	Dec. 31, 2020USD ($)Annuity_Policy	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Apr. 30, 2019USD ($)
Loss Contingencies [Line Items]
Number of annuity policies | Annuity_Policy				2
Rental expense				$ 500,000	$ 400,000	$ 400,000
Finance lease				833,000		1,900,000
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2021				416,000
2022				430,000
Total minimum lease payments				846,000
Less: Interest				(13,000)
Present value of net minimum lease payments				833,000		1,900,000
Guaranty Association Assessments
Loss Contingencies [Line Items]
Guaranty association assessments				200,000	$ 200,000	100,000
New Loans
Loss Contingencies [Line Items]
Commitments to extend credit relating to mortgage loans				14,500,000
Existing Loans
Loss Contingencies [Line Items]
Commitments to extend credit relating to mortgage loans				3,500,000
Capital Contributions To Investment Funds
Loss Contingencies [Line Items]
Commitments to extend credit relating to mortgage loans				$ 150,900,000
Williams v Pantaleoni et al
Loss Contingencies [Line Items]
Damages award to plaintiff	$ 1,260,000
Equity indexed annuity issued							$ 100,000
Loss contingency, compensatory damages awarded		$ 14,949
Loss contingency, punitive damages awarded		$ 2,900,000
Settled Litigation | Damaris Maldonado Vinas Et AI
Loss Contingencies [Line Items]
Guaranty association assessments						$ 2,900,000
Settled Litigation | National Western Life Insurance Company and National Western Life Group, Inc. v. Ross Rankin Moody et. al
Loss Contingencies [Line Items]
Damages award to plaintiff			$ 1,314,054

Deposit with Regulatory Authori

Deposit with Regulatory Authorities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Deposit with Regulatory Authorities [Line Items]
Assets deposited with state and other regulatory authorities	$ 19,089	$ 19,116
National Western Life Insurance Company:
Schedule of Deposit with Regulatory Authorities [Line Items]
Assets deposited with state and other regulatory authorities	15,758	15,773
National Western Life Insurance Company: | Debt securities held-to-maturity
Schedule of Deposit with Regulatory Authorities [Line Items]
Assets deposited with state and other regulatory authorities	0	14,261
National Western Life Insurance Company: | Debt securities available-for-sale
Schedule of Deposit with Regulatory Authorities [Line Items]
Assets deposited with state and other regulatory authorities	15,283	1,037
National Western Life Insurance Company: | Short-term investments
Schedule of Deposit with Regulatory Authorities [Line Items]
Assets deposited with state and other regulatory authorities	475	475
Ozark National Life Insurance Company:
Schedule of Deposit with Regulatory Authorities [Line Items]
Assets deposited with state and other regulatory authorities	3,331	3,343
Ozark National Life Insurance Company: | Debt securities held-to-maturity
Schedule of Deposit with Regulatory Authorities [Line Items]
Assets deposited with state and other regulatory authorities	0	3,343
Ozark National Life Insurance Company: | Debt securities available-for-sale
Schedule of Deposit with Regulatory Authorities [Line Items]
Assets deposited with state and other regulatory authorities	$ 3,331	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2015
Related Party Transaction [Line Items]
Mortgage loan	$ 332,521,000	$ 272,422,000
Robert L. Moody, Jr.
Related Party Transaction [Line Items]
Commission paid under agency contracts	182,957	131,974
RMS
Related Party Transaction [Line Items]
Management fees	0	181,338
MNB
Related Party Transaction [Line Items]
Commission and service fees expense	582,150	777,498
Payments for rent	32,101	32,101
American National Insurance Company
Related Party Transaction [Line Items]
Premiums paid during the year	840,802	713,033
Reimbursements for claim costs	2,635,164	2,903,053
Premium received	2,744,962	3,024,013
American National Registered Investment Advisory
Related Party Transaction [Line Items]
Professional fees	$ 47,778	45,391
The Company | Moody Bancshares, Inc.
Related Party Transaction [Line Items]
Percentage of ownership	9.40%
RCC | RMS
Related Party Transaction [Line Items]
Percentage of ownership	1.00%
Three R Trusts | RMS
Related Party Transaction [Line Items]
Percentage of ownership	99.00%
Three R Trusts | RCC
Related Party Transaction [Line Items]
Percentage of ownership	100.00%
Moody Bancshares, Inc. | Moody Bank Holding
Related Party Transaction [Line Items]
Percentage of ownership	100.00%
Moody Bank Holding | MNB
Related Party Transaction [Line Items]
Percentage of ownership	98.50%
The Westcap Corporation | American National Insurance Company
Related Party Transaction [Line Items]
Undivided participation in mortgage			24.93%
Mortgage loan	$ 18,500,000	$ 19,000,000	$ 20,000,000
Percentage of commercial mortgage			24.93%

Unaudited Quarterly Financial_3

Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments
Total revenues	$ 223,537	$ 202,702	$ 216,015	$ 52,488	$ 235,428	$ 173,166	$ 192,685	$ 217,909	$ 694,742	$ 819,188	$ 551,599
Net earnings	35,135	10,825	48,413	(2,062)	37,733	19,989	33,696	40,198	92,312	131,616	116,758
Change in fair value of derivative investments	$ 49,620	$ 31,520	$ 40,243	$ (106,629)	$ 60,080	$ 3,296	$ 17,828	$ 42,003
Class A
Schedule of Equity Method Investments
Net earnings									$ 89,701	$ 127,894	$ 113,456
Basic earnings per share (in dollars per share)	$ 9.94	$ 3.06	$ 13.69	$ (0.58)	$ 10.67	$ 5.65	$ 9.53	$ 11.37	$ 26.11	$ 37.22	$ 33.02
Diluted earnings per share (in dollars per share)	9.94	3.06	13.69	(0.58)	10.67	5.65	9.53	11.37	$ 26.11	$ 37.22	$ 33.02
Class B
Schedule of Equity Method Investments
Net earnings									$ 2,611	$ 3,722	$ 3,302
Basic earnings per share (in dollars per share)	4.97	1.53	6.85	(0.29)	5.34	2.83	4.76	5.68	$ 13.05	$ 18.61	$ 16.51
Diluted earnings per share (in dollars per share)	$ 4.97	$ 1.53	$ 6.85	$ (0.29)	$ 5.34	$ 2.83	$ 4.76	$ 5.68	$ 13.05	$ 18.61	$ 16.51

Schedule I - Summary of Inves_2

Schedule I - Summary of Investments Other Than Investments in Related Parties (Details)	Dec. 31, 2020USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	$ 10,530,151,000
Balance Sheet Amount	11,432,205,000
Fixed maturities:
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	9,874,543,000
Fair Value	10,770,923,000
Balance Sheet Amount	10,770,923,000
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	12,070,000
Fair Value	17,744,000
Balance Sheet Amount	17,744,000
Public utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	728,000
Fair Value	1,309,000
Balance Sheet Amount	1,309,000
Banks, trust, and insurance companies
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	1,701,000
Fair Value	3,143,000
Balance Sheet Amount	3,143,000
Industrial, miscellaneous, and all others
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	9,391,000
Fair Value	13,042,000
Balance Sheet Amount	13,042,000
Preferred stocks
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	250,000
Fair Value	250,000
Balance Sheet Amount	250,000
Derivatives, index options
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	132,821,000
Balance Sheet Amount	132,821,000
Mortgage loans on real estate
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	332,521,000
Balance Sheet Amount	332,521,000
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	74,083,000
Balance Sheet Amount	74,083,000
Other long-term investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	104,113,000
Balance Sheet Amount	104,113,000
Real estate acquired through foreclosure	0
Debt securities available-for-sale:
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	9,874,543,000
Fair Value	10,770,923,000
Balance Sheet Amount	10,770,923,000
Debt securities available-for-sale: | United States government and government agencies and authorities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	76,097,000
Fair Value	78,719,000
Balance Sheet Amount	78,719,000
Debt securities available-for-sale: | States, municipalities, and political subdivisions
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	528,266,000
Fair Value	566,089,000
Balance Sheet Amount	566,089,000
Debt securities available-for-sale: | Foreign governments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	11,115,000
Fair Value	11,449,000
Balance Sheet Amount	11,449,000
Debt securities available-for-sale: | Public utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	831,990,000
Fair Value	909,910,000
Balance Sheet Amount	909,910,000
Debt securities available-for-sale: | Corporate
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	7,376,104,000
Fair Value	8,098,973,000
Balance Sheet Amount	8,098,973,000
Debt securities available-for-sale: | Commercial mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	30,108,000
Fair Value	953,788,000
Balance Sheet Amount	953,788,000
Debt securities available-for-sale: | Residential mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	902,974,000
Fair Value	31,471,000
Balance Sheet Amount	31,471,000
Debt securities available-for-sale: | Asset-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized Cost or Cost	117,889,000
Fair Value	120,524,000
Balance Sheet Amount	$ 120,524,000

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Registrant - Condensed Statements of Financial Position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 581,059	$ 253,525
Federal income tax receivable	10,408	0
Other assets	135,310	138,902
Total assets	14,648,270	12,553,447	$ 11,931,691
Liabilities:
Current Federal income tax liability	0	3,748
Deferred Federal income tax liability	145,126	36,767
Other liabilities	193,904	126,924
Total liabilities	12,108,520	10,437,017
Stockholders' Equity:
Additional paid-in capital	41,716	41,716
Accumulated other comprehensive income	395,421	60,108
Increase (decrease) to retained earnings	2,102,577	2,014,570
Total stockholders' equity	2,539,750	2,116,430	$ 1,900,777
Total liabilities and stockholders' equity	14,648,270	12,553,447
The Company
ASSETS
Investment in subsidiaries	2,535,669	2,111,369
Cash and cash equivalents	8,376	1,239
Federal income tax receivable	0	4,731
Deferred Federal income tax asset	7,721	240
Other assets	293	323
Total assets	2,552,059	2,117,902
Liabilities:
Due to subsidiaries	0	0
Current Federal income tax liability	11,667	0
Deferred Federal income tax liability	0	0
Other liabilities	642	1,472
Total liabilities	12,309	1,472
Stockholders' Equity:
Additional paid-in capital	41,716	41,716
Accumulated other comprehensive income	395,421	60,108
Increase (decrease) to retained earnings	2,102,577	2,014,570
Total stockholders' equity	2,539,750	2,116,430
Total liabilities and stockholders' equity	2,552,059	2,117,902
Class A
Stockholders' Equity:
Common stock, value outstanding	34	34
Class A | The Company
Stockholders' Equity:
Common stock, value outstanding	34	34
Class B
Stockholders' Equity:
Common stock, value outstanding	2	2
Class B | The Company
Stockholders' Equity:
Common stock, value outstanding	$ 2	$ 2

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Registrant - Condensed Statements of Financial Position Additional Information (Details) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Class A
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	7,500,000	7,500,000
Common stock, shares issued (in shares)	3,436,020	3,436,020
Common stock, shares outstanding (in shares)	3,436,020	3,436,020
Class B
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000	200,000
Common stock, shares issued (in shares)	200,000	200,000
Common stock, shares outstanding (in shares)	200,000	200,000
The Company | Class A
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	7,500,000	7,500,000
Common stock, shares issued (in shares)	3,436,020	3,436,020
Common stock, shares outstanding (in shares)	3,436,020	3,436,020
The Company | Class B
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000	200,000
Common stock, shares issued (in shares)	200,000	200,000
Common stock, shares outstanding (in shares)	200,000	200,000

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Registrant - Condensed Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Net investment income									$ 417,202	$ 555,492	$ 349,077
Total revenues	$ 223,537	$ 202,702	$ 216,015	$ 52,488	$ 235,428	$ 173,166	$ 192,685	$ 217,909	694,742	819,188	551,599
Expenses:
Other operating expenses									104,584	104,558	93,969
Total expenses									582,674	654,032	410,092
Earnings before Federal income taxes									112,068	165,156	141,507
Federal income taxes/(benefit)									19,756	33,540	24,749
Net earnings	$ 35,135	$ 10,825	$ 48,413	$ (2,062)	$ 37,733	$ 19,989	$ 33,696	$ 40,198	92,312	131,616	116,758
The Company
Revenues:
Dividend income from subsidiaries									1,395	36,000	5,957
Net investment income									9	0	0
Total revenues									1,404	36,000	5,957
Expenses:
Other operating expenses									3,322	5,358	2,617
Total expenses									3,322	5,358	2,617
Earnings before Federal income taxes									(1,918)	30,642	3,340
Federal income taxes/(benefit)									(2,212)	(1,739)	(717)
Earnings before equity in earnings of affiliates									294	32,381	4,057
Equity in earnings of affiliates									92,018	99,235	112,701
Net earnings									$ 92,312	$ 131,616	$ 116,758

Schedule II - Condensed Finan_5

Schedule II - Condensed Financial Information of Registrant - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net earnings	$ 35,135	$ 10,825	$ 48,413	$ (2,062)	$ 37,733	$ 19,989	$ 33,696	$ 40,198	$ 92,312	$ 131,616	$ 116,758
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation and amortization									11,903	11,677	12,147
Change in:
Federal income tax, net									(14,156)	21,580	(20,635)
Deferred Federal income tax									20,031	(25,294)	26,438
Net cash provided by operating activities									373,071	329,029	326,623
Cash flows from investing activities:
Payment to acquire businesses, net of cash acquired									0	(189,121)	0
Net cash provided by (used in) investing activities									393,537	377,874	27,929
Cash flows from financing activities:
Dividends on common stock									(1,273)	(1,273)	(1,273)
Net cash provided by (used in) financing activities									(439,093)	(586,017)	(441,914)
Net increase (decrease) in cash, cash equivalents, and restricted cash									327,534	121,549	(85,648)
Cash, cash equivalents, and restricted cash at beginning of year				253,525				131,976	253,525	131,976	217,624
Cash, cash equivalents, and restricted cash at end of year	581,059				253,525				581,059	253,525	131,976
The Company
Cash flows from operating activities:
Net earnings									92,312	131,616	116,758
Adjustments to reconcile net earnings to cash provided by operating activities:
Equity in earnings of affiliates									(92,018)	(99,235)	(112,701)
Depreciation and amortization									30	30	30
Change in:
Federal income tax, net									16,397	(547)	(1,166)
Deferred Federal income tax									(7,481)	(637)	448
Due to subsidiaries, net									0	0	0
Other, net									(830)	(4)	(1,956)
Net cash provided by operating activities									8,410	31,223	1,413
Cash flows from investing activities:
Payment to acquire businesses, net of cash acquired									0	(30,154)	0
Net cash provided by (used in) investing activities									0	(30,154)	0
Cash flows from financing activities:
Dividends on common stock									(1,273)	(1,273)	(1,273)
Net cash provided by (used in) financing activities									(1,273)	(1,273)	(1,273)
Net increase (decrease) in cash, cash equivalents, and restricted cash									7,137	(204)	140
Cash, cash equivalents, and restricted cash at beginning of year				$ 1,239				$ 1,443	1,239	1,443	1,303
Cash, cash equivalents, and restricted cash at end of year	$ 8,376				$ 1,239				$ 8,376	$ 1,239	$ 1,443

Schedule II - Condensed Finan_6

Schedule II - Condensed Financial Information of Registrant - Basis of Presentation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
National Western Life Insurance Company:
Condensed Financial Statements, Captions [Line Items]
Dividend payments	$ 0	$ 36	$ 6
NIS
Condensed Financial Statements, Captions [Line Items]
Dividend payments	$ 1.4	$ 0

Schedule IV - Reinsurance Inf_2

Schedule IV - Reinsurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Life insurance face in force
Gross Amount	$ 21,954,160	$ 23,299,829	$ 18,595,209
Ceded to Other Companies	4,013,073	4,252,828	4,021,979
Assumed from Other Companies	0	0	0
Net amount	$ 17,941,087	$ 19,047,001	$ 14,573,230
Percentage of Amount Assumed to Net	0.00%	0.00%	0.00%
Premiums:
Gross Amount	$ 98,554	$ 96,077	$ 21,487
Ceded to Other Companies	6,217	6,041	3,196
Assumed from Other Companies	205	212	0
Net amount	$ 92,542	$ 90,248	$ 18,291
Percentage of Amount Assumed to Net	0.20%	0.20%	0.00%
Life insurance
Premiums:
Gross Amount	$ 95,579	$ 92,844	$ 18,478
Ceded to Other Companies	6,217	6,041	3,196
Assumed from Other Companies	205	212	0
Net amount	$ 89,567	$ 87,015	$ 15,282
Percentage of Amount Assumed to Net	0.20%	0.20%	0.00%
Accident and health insurance
Premiums:
Gross Amount	$ 2,956	$ 3,214	$ 3,009
Ceded to Other Companies	0	0	0
Assumed from Other Companies	0	0	0
Net amount	$ 2,956	$ 3,214	$ 3,009
Percentage of Amount Assumed to Net	0.00%	0.00%	0.00%
Annuities
Premiums:
Gross Amount	$ 19	$ 19	$ 0
Ceded to Other Companies	0	0	0
Assumed from Other Companies	0	0	0
Net amount	$ 19	$ 19	$ 0
Percentage of Amount Assumed to Net	0.00%	0.00%	0.00%

Schedule V - Valuation and Qu_2

Schedule V - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for possible losses on mortgage loans:
Allowance for possible losses on mortgage loans:
Balance at Beginning of Period	$ 675	$ 675	$ 650
Charged to costs and expenses	1,307	0	25
Charged to retained earnings	504	0	0
Reductions	0	0	0
Balance at End of Period	2,486	675	675
Allowance for current expected credit losses on debt securities
Allowance for possible losses on mortgage loans:
Balance at Beginning of Period	0
Charged to costs and expenses	0
Charged to retained earnings	3,334
Reductions	(3,334)
Balance at End of Period	0	0
Allowance for possible losses on real estate:
Allowance for possible losses on mortgage loans:
Balance at Beginning of Period	596	611	611
Charged to costs and expenses	0	0	0
Charged to retained earnings	0	0	0
Reductions	(172)	(15)	0
Balance at End of Period	$ 424	$ 596	$ 611