Protective Life Insurance 10-K 24 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 13, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	PROTECTIVE LIFE INSURANCE CO
Entity Central Index Key	310826
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$0
Entity Common Stock, Shares Outstanding		5,000,000
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues
Premiums and policy fees	$3,283,069	$2,967,322	$2,799,390
Reinsurance ceded	-1,395,743	-1,387,437	-1,310,097
Net of reinsurance ceded	1,887,326	1,579,885	1,489,293
Net investment income	2,098,013	1,836,188	1,789,338
Realized investment gains (losses):
Derivative financial instruments	-13,492	82,161	-227,816
All other investments	205,302	-121,537	232,836
Other-than-temporary impairment losses	-2,589	-10,941	-67,130
Portion recognized in other comprehensive income (before taxes)	-4,686	-11,506	8,986
Net impairment losses recognized in earnings	-7,275	-22,447	-58,144
Other income	294,333	250,420	230,553
Total revenues	4,464,207	3,604,670	3,456,060
Benefits and expenses
Benefits and settlement expenses, net of reinsurance ceded: (2014 - $1,223,804; 2013 - $1,207,781; 2012 - $1,228,897)	2,786,463	2,473,988	2,317,121
Amortization of deferred policy acquisition costs and value of business acquired	308,320	154,660	192,183
Other operating expenses, net of reinsurance ceded: (2014 - $199,824; 2013 - $199,079; 2012 - $200,442)	630,635	553,523	487,177
Total benefits and expenses	3,725,418	3,182,171	2,996,481
Income before income tax	738,789	422,499	459,579
Income tax (benefit) expense
Current	181,763	-18,298	81,006
Deferred	65,075	149,195	70,037
Total income tax expense	246,838	130,897	151,043
Net income	$491,951	$291,602	$308,536

CONSOLIDATED_CONDENSED_STATEME

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Parenthetical) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
Benefits and settlement expenses, reinsurance ceded	$1,223,804	$1,207,781	$1,228,897
Other operating expenses, reinsurance ceded	$199,824	$199,079	$200,442

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income	$491,951	$291,602	$308,536
Other comprehensive income (loss):
Change in net unrealized gains (losses) on investments, net of income tax: (2014 - $529,838; 2013 - $(673,302); 2012 - $392,372)	983,985	-1,250,416	728,692
Reclassification adjustment for investment amounts included in net income, net of income tax: (2014 - $(23,903); 2013 - $(15,396); 2012 - $(3,317))	-44,391	-28,594	-6,163
Change in net unrealized gains (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2014 - $1,883; 2013 - $2,472; 2012 - $16,227)	3,498	4,591	30,136
Change in accumulated (loss) gain - derivatives, net of income tax: (2014 - $(1); 2013 - $395; 2012 - $1,108)	-2	734	2,058
Reclassification adjustment for derivative amounts included in net income, net of income tax: (2014 - $622; 2013 - $822; 2012 - $1,120)	1,155	1,527	2,080
Total other comprehensive income (loss)	944,245	-1,272,158	756,803
Total comprehensive income (loss)	$1,436,196	($980,556)	$1,065,339

CONSOLIDATED_CONDENSED_STATEME1

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Change in net unrealized gains (losses) on investments, income tax	$529,838	($673,302)	$392,372
Reclassification adjustment for investment amounts included in net income, income tax	-23,903	-15,396	-3,317
Change in net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	1,883	2,472	16,227
Change in accumulated gain - derivatives, income tax	-1	395	1,108
Reclassification adjustment for derivative amounts included in net income, income tax	$622	$822	$1,120

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets
Fixed maturities, at fair value (amortized cost: 2014 - $33,716,848; 2013 - $33,648,298)	$36,756,240	$34,804,919
Fixed maturities, at amortized cost (fair value: 2014 - $485,422; 2013 - $335,676)	435,000	365,000
Equity securities, at fair value (cost: 2014 - $735,297; 2013 - $632,652)	756,790	602,388
Mortgage loans (2014 and 2013 includes: $455,250 and $627,731 related to securitizations)	5,133,780	5,493,492
Investment real estate, net of accumulated depreciation (2014 - $246; 2013 - $937)	5,918	16,873
Policy loans	1,758,237	1,815,744
Other long-term investments	491,282	424,481
Short-term investments	246,717	133,025
Total investments	45,583,964	43,655,922
Cash	268,286	345,579
Accrued investment income	474,095	461,838
Accounts and premiums receivable, net of allowance for uncollectible amounts (2014 - $3,465; 2013 - $4,211)	81,137	101,324
Reinsurance receivables	5,907,662	6,008,010
Deferred policy acquisition costs and value of business acquired	3,155,046	3,476,622
Goodwill	77,577	80,675
Property and equipment, net of accumulated depreciation (2014 - $116,688; 2013 - $110,080)	51,760	51,071
Other assets	398,574	501,302
Income tax receivable	1,648	12,399
Assets related to separate accounts
Variable annuity	13,157,429	12,791,438
Variable universal life	834,940	783,618
Total assets	69,992,118	68,269,798
Liabilities
Future policy benefits and claims	29,944,477	29,771,958
Unearned premiums	1,515,001	1,500,394
Total policy liabilities and accruals	31,459,478	31,272,352
Stable value product account balances	1,959,488	2,559,552
Annuity account balances	10,950,729	11,125,253
Other policyholders' funds	1,430,325	1,214,380
Other liabilities	1,178,962	945,911
Deferred income taxes	1,611,864	1,041,420
Non-recourse funding obligations	1,527,752	1,495,448
Repurchase program borrowings	50,000	350,000
Liabilities related to separate accounts
Variable annuity	13,157,429	12,791,438
Variable universal life	834,940	783,618
Total liabilities	64,160,967	63,579,372
Commitments and contingencies - Note 9
Shareowner's equity
Preferred Stock; $1 par value, shares authorized: 2,000; Liquidation preference: $2,000	2	2
Common Stock, $1 par value, shares authorized and issued: 2014 and 2013 - 5,000,000	5,000	5,000
Additional paid-in-capital	1,437,787	1,433,258
Retained earnings	2,905,151	2,713,200
Accumulated other comprehensive income (loss):
Net unrealized gains on investments, net of income tax: (2014 - $0; 2013 - $290,553)	1,479,192	539,598
Net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, net of income tax: (2014 - $0; 2013 - $325)	4,101	603
Accumulated loss - derivatives, net of income tax: (2014 - $0; 2013 - $(666))	-82	-1,235
Total shareowner's equity	5,831,151	4,690,426
Total liabilities and shareowner's equity	$69,992,118	$68,269,798

CONSOLIDATED_CONDENSED_BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
CONSOLIDATED CONDENSED BALANCE SHEETS
Fixed maturities, amortized cost	$33,716,848	$33,648,298
Fixed maturities, fair value	485,422	335,676
Equity securities, cost	735,297	632,652
Mortgage loans, securitizations	455,250	627,731
Investment real estate, accumulated depreciation	246	937
Accounts and premiums receivable, allowance for uncollectible amounts	3,465	4,211
Property and equipment, accumulated depreciation	116,688	110,080
Preferred Stock, par value (in dollars per share)	$1	$1
Preferred Stock, shares authorized (in shares)	2,000	2,000
Preferred Stock, Liquidation preference	2,000	2,000
Common Stock, par value (in dollars per share)	$1	$1
Common Stock, shares authorized (in shares)	5,000,000	5,000,000
Common Stock, shares issued (in shares)	5,000,000	5,000,000
Net unrealized gains on investments, income tax	796,488	290,553
Net unrealized gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax	2,208	325
Accumulated loss - derivatives, income tax	($45)	($666)

CONSOLIDATED_STATEMENTS_OF_SHA

CONSOLIDATED STATEMENTS OF SHAREOWNER'S EQUITY (USD $)	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss).	Total
In Thousands, unless otherwise specified
Balance at Dec. 31, 2011	$2	$5,000	$1,361,734	$2,456,293	$1,054,321	$4,877,350
Increase (decrease) in shareowner's equity
Net income				308,536		308,536
Other comprehensive income (loss)					756,803	756,803
Total comprehensive income (loss)						1,065,339
Capital contributions			1,524			1,524
Dividends to the parent company				-257,000		-257,000
Balance at Dec. 31, 2012	2	5,000	1,363,258	2,507,829	1,811,124	5,687,213
Increase (decrease) in shareowner's equity
Net income				291,602		291,602
Other comprehensive income (loss)					-1,272,158	-1,272,158
Total comprehensive income (loss)						-980,556
Capital contributions			70,000			70,000
Dividends to the parent company				-86,231		-86,231
Balance at Dec. 31, 2013	2	5,000	1,433,258	2,713,200	538,966	4,690,426
Increase (decrease) in shareowner's equity
Net income				491,951		491,951
Other comprehensive income (loss)					944,245	944,245
Total comprehensive income (loss)						1,436,196
Capital contributions			4,529			4,529
Dividends to the parent company				-300,000		-300,000
Balance at Dec. 31, 2014	$2	$5,000	$1,437,787	$2,905,151	$1,483,211	$5,831,151

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income	$491,951	$291,602	$308,536
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment losses (gains)	-184,535	61,823	53,124
Amortization of deferred policy acquisition costs and value of business acquired	308,320	154,660	192,183
Capitalization of deferred policy acquisition costs	-293,612	-345,885	-311,960
Depreciation expense	7,401	6,595	7,378
Deferred income tax	65,075	149,195	70,037
Accrued income tax	10,751	70,749	359
Interest credited to universal life and investment products	824,418	875,180	962,678
Policy fees assessed on universal life and investment products	-1,038,180	-894,176	-794,825
Change in reinsurance receivables	100,348	97,523	-140,424
Change in accrued investment income and other receivables	14,332	-34,551	580
Change in policy liabilities and other policyholders' funds of traditional life and health products	92,823	95,421	300,523
Trading securities:
Maturities and principal reductions of investments	114,793	179,180	276,659
Sale of investments	353,250	256,938	454,150
Cost of investments acquired	-320,928	-380,836	-585,618
Other net change in trading securities	-69,641	38,999	-56,615
Change in other liabilities	197,442	-78,240	-22,009
Other income - gains on repurchase of non-recourse funding obligations	-7,393	-15,379	-29,344
Other, net	-22,961	13,679	11,220
Net cash provided by operating activities	643,654	542,477	696,632
Cash flows from investing activities
Maturities and principal reductions of investments, available-for-sale	1,198,690	1,094,862	1,169,563
Sale of investments, available-for-sale	2,273,909	3,241,559	2,535,708
Cost of investments acquired, available-for-sale	-3,602,600	-5,079,971	-4,228,755
Change in investments, held-to-maturity	-70,000	-65,000	-300,000
Mortgage loans:
New lendings	-925,910	-583,697	-346,435
Repayments	1,285,489	861,562	739,402
Change in investment real estate, net	13,032	-10,356	4,927
Change in policy loans, net	57,507	17,181	14,428
Change in other long-term investments, net	-87,522	-231,653	-123,401
Change in short-term investments, net	-71,015	147,477	-82,282
Net unsettled security transactions	30,212	7,373	37,169
Purchase of property and equipment	-8,088	-10,275	-6,157
Payments for business acquisitions, net of cash acquired	-906	-471,714
Net cash provided by (used in) investing activities	92,798	-1,082,652	-585,833
Cash flows from financing activities
Issuance (repayment) of non-recourse funding obligations	32,348	46,000	198,300
Repurchase program borrowings	-300,000	200,000	150,000
Capital contributions from PLC	4,529	70,000
Dividends paid to the parent company	-300,000	-44,963	-257,000
Investment product deposits and change in universal life deposits	2,576,727	3,219,561	3,716,553
Investment product withdrawals	-2,827,305	-2,874,426	-3,818,845
Other financing activities, net	-44
Net cash (used in) provided by financing activities	-813,745	616,172	-10,992
Change in cash	-77,293	75,997	99,807
Cash at beginning of period	345,579	269,582	169,775
Cash at end of period	$268,286	$345,579	$269,582

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2014
BASIS OF PRESENTATION
BASIS OF PRESENTATION
	1.BASIS OF PRESENTATION
	Basis of Presentation
	Protective Life Insurance Company (the “Company”), a stock life insurance company, was founded in 1907. The Company is a wholly owned subsidiary of Protective Life Corporation (“PLC”), an insurance holding company. On February 1, 2015, PLC became a wholly owned subsidiary of The Dai-ichi Life Insurance Company, Limited, a kabushiki kaisha organized under the laws of Japan (“Dai-ichi Life”), when DL Investment (Delaware), Inc. a wholly owned subsidiary of Dai-ichi Life, merged with and into PLC. Prior to February 1, 2015, and for the periods this report presents, PLC’s stock was publicly traded on the New York Stock Exchange. PLC is a holding company with subsidiaries that provide financial services through the production, distribution, and administration of insurance and investment products.
	The Company markets individual life insurance, credit life and disability insurance, guaranteed investment contracts, guaranteed funding agreements, fixed and variable annuities, and extended service contracts throughout the United States. The Company also maintains a separate segment devoted to the acquisition of insurance policies from other companies.
	These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such accounting principles differ from statutory reporting practices used by insurance companies in reporting to state regulatory authorities (see also Note 21, Statutory Reporting Practices and Other Regulatory Matters).
	The operating results of companies in the insurance industry have historically been subject to significant fluctuations due to changing competition, economic conditions, interest rates, investment performance, insurance ratings, claims, persistency, and other factors.
	Reclassifications
	Certain reclassifications have been made in the previously reported financial statements and accompanying notes to make the prior year amounts comparable to those of the current year. Such reclassifications had no effect on previously reported net income or shareowners’ equity.
	Entities Included
	The consolidated financial statements include the accounts of Protective Life Insurance Company and its affiliate companies in which the Company holds a majority voting or economic interest. Intercompany balances and transactions have been eliminated.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	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 and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates. The most significant estimates include those used in determining deferred policy acquisition costs (“DAC”) and related amortization periods, goodwill recoverability, value of business acquired (“VOBA”), investment and certain derivatives fair values, other-than-temporary impairments, future policy benefits, pension and other postretirement benefits, provisions for income taxes, reserves for contingent liabilities, reinsurance risk transfer assessments, and reserves for losses in connection with unresolved legal matters.
	Significant Accounting Policies
	Valuation of Investment Securities
	The Company determines the appropriate classification of investment securities at the time of purchase and periodically re-evaluates such designations. Investment securities are classified as either trading, available-for-sale, or held-to-maturity securities. Investment securities classified as trading are recorded at fair value with changes in fair value recorded in realized gains (losses). Investment securities purchased for long term investment purposes are classified as available-for-sale and are recorded at fair value with changes in unrealized gains and losses, net of taxes, reported as a component of other comprehensive income (loss). Investment securities are classified as held-to-maturity when the Company has the intent and ability to hold the securities to maturity and are reported at amortized cost. Interest income on available-for-sale and held-to-maturity securities includes the amortization of premiums and accretion of discounts and are recorded in investment income.
	The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a “waterfall” approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non- binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which the Company purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party service or an independent broker quotation. Included in the pricing of other asset-backed securities, collateralized mortgage obligations (“CMOs”), and mortgage-backed securities (“MBS”) are estimates of the rate of future prepayments of principal and underlying collateral support over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and rates of prepayments previously experienced at the interest rate levels projected for the underlying collateral. The basis for the cost of securities sold was determined at the Committee on Uniform Securities Identification Procedures (“CUSIP”) level. The committee supplies a unique nine-character identification, called a CUSIP number, for each class of security approved for trading in the U.S., to facilitate clearing and settlement. These numbers are used when any buy and sell orders are recorded.
	Each quarter the Company reviews investments with unrealized losses and tests for other-than-temporary impairments. The Company analyzes various factors to determine if any specific other-than-temporary asset impairments exist. These include, but are not limited to: 1) actions taken by rating agencies, 2) default by the issuer, 3) the significance of the decline, 4) an assessment of the Company’s intent to sell the security (including a more likely than not assessment of whether the Company will be required to sell the security) before recovering the security’s amortized cost, 5) the duration of the decline, 6) an economic analysis of the issuer’s industry, and 7) the financial strength, liquidity, and recoverability of the issuer. Management performs a security by security review each quarter in evaluating the need for any other-than-temporary impairments. Although no set formula is used in this process, the investment performance, collateral position, and continued viability of the issuer are significant measures considered, and in some cases, an analysis regarding the Company’s expectations for recovery of the security’s entire amortized cost basis through the receipt of future cash flows is performed. Once a determination has been made that a specific other-than-temporary impairment exists, the security’s basis is adjusted and an other-than-temporary impairment is recognized. Equity securities that are other-than-temporarily impaired are written down to fair value with a realized loss recognized in earnings. Other-than- temporary impairments to debt securities that the Company does not intend to sell and does not expect to be required to sell before recovering the security’s amortized cost are written down to discounted expected future cash flows (“post impairment cost”) and credit losses are recorded in earnings. The difference between the securities’ discounted expected future cash flows and the fair value of the securities on the impairment date is recognized in other comprehensive income (loss) as a non-credit portion impairment. When calculating the post impairment cost for residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”), and other asset-backed securities (collectively referred to as asset-backed securities or “ABS”), the Company considers all known market data related to cash flows to estimate future cash flows. When calculating the post impairment cost for corporate debt securities, the Company considers all contractual cash flows to estimate expected future cash flows. To calculate the post impairment cost, the expected future cash flows are discounted at the original purchase yield. Debt securities that the Company intends to sell or expects to be required to sell before recovery are written down to fair value with the change recognized in earnings.
	Cash
	Cash includes all demand deposits reduced by the amount of outstanding checks and drafts. As a result of the Company’s cash management system, checks issued from a particular bank but not yet presented for payment may create negative book cash balances with the bank. Such negative balances are included in other liabilities and were immaterial as of December 31, 2014 and $41.3 million as of December 31, 2013, respectively. The Company has deposits with certain financial institutions which exceed federally insured limits. The Company has reviewed the creditworthiness of these financial institutions and believes there is minimal risk of a material loss.
	Deferred Policy Acquisition Costs
	The incremental direct costs associated with successfully acquired insurance policies, are deferred to the extent such costs are deemed recoverable from future profits. Such costs include commissions and other costs of acquiring traditional life and health insurance, credit insurance, universal life insurance, and investment products. DAC are subject to recoverability testing at the end of each accounting period. Traditional life and health insurance acquisition costs are amortized over the premium-payment period of the related policies in proportion to the ratio of annual premium income to the present value of the total anticipated premium income. Credit insurance acquisition costs are being amortized in proportion to earned premium. Acquisition costs for universal life and investment products are amortized over the lives of the policies in relation to the present value of estimated gross profits before amortization.
	The Company makes certain assumptions regarding the mortality, persistency, expenses, and interest rates (equal to the rate used to compute liabilities for future policy benefits, currently 1.0% to 6.65%) the Company expects to experience in future periods when determining the present value of estimated gross profits. These assumptions are best estimates and are periodically updated whenever actual experience and/or expectations for the future change from that assumed. Additionally, these costs have been adjusted by an amount equal to the amortization that would have been recorded if unrealized gains or losses on investments associated with our universal life and investment products had been realized. Acquisition costs for stable value contracts are amortized over the term of the contracts using the effective yield method.
	Value of Businesses Acquired
	In conjunction with the acquisition of a block of insurance policies or investment contracts, a portion of the purchase price is allocated to the right to receive future gross profits from cash flow and earnings of the acquired insurance policies or investment contracts. This intangible asset, called VOBA, represents the actuarially estimated present value of future cash flows from the acquired policies. The estimated present value of future cash flows used in the calculation of the VOBA is based on certain assumptions, including mortality, persistency, expenses, and interest rates that the Company expects to experience in future years. These assumptions are best estimates and are periodically updated whenever actual experience and/or expectations for the future change from that assumed. The Company amortizes VOBA in proportion to gross premiums for traditional life products, in proportion to expected gross profits (“EGPs”) for interest sensitive products, including accrued interest credited to account balances of up to approximately 8.75% and in proportion to estimated gross margin for policies within the Closed Block that was acquired as part of the MONY acquisition. VOBA is subject to annual recoverability testing.
	Property and Equipment
	The Company reports land, buildings, improvements, and equipment at cost, including interest capitalized during any acquisition or development period, less accumulated depreciation. The Company depreciates its assets using the straight-line method over the estimated useful lives of the assets. The Company’s home office building is depreciated over a thirty-nine year useful life, furniture is depreciated over a ten year useful life, office equipment and machines are depreciated over a five year useful life, and software and computers are depreciated over a three year useful life. Major repairs or improvements are capitalized and depreciated over the estimated useful lives of the assets. Other repairs are expensed as incurred. The cost and related accumulated depreciation of property and equipment sold or retired are removed from the accounts, and resulting gains or losses are included in income.
	Property and equipment consisted of the following:
			As of December 31,
			2014			2013
			(Dollars In Thousands)
	Home office building		$	75,109		$	74,313
	Data processing equipment		40,568			35,789
	Other, principally furniture and equipment		52,771			51,049
			168,448			161,151
	Accumulated depreciation		(116,688		)	(110,080		)
	Total property and equipment		$	51,760		$	51,071
	Separate Accounts
	The separate account assets represent funds for which the Company does not bear the investment risk. These assets are carried at fair value and are equal to the separate account liabilities, which represent the policyholder’s equity in those assets. The investment income and investment gains and losses on the separate account assets accrue directly to the policyholder. These amounts are reported separately as assets and liabilities related to separate accounts in the accompanying consolidated financial statements. Amounts assessed against policy account balances for the costs of insurance, policy administration, and other services are included in premiums and policy fees in the accompanying consolidated statements of income.
	Stable Value Product Account Balances
	The Stable Value Products segment sells fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, money market funds, bank trust departments, and other institutional investors. The segment also issues funding agreements to the Federal Home Loan Bank (“FHLB”), and markets guaranteed investment contracts (“GICs”) to 401(k) and other qualified retirement savings plans. GICs are contracts which specify a return on deposits for a specified period and often provide flexibility for withdrawals at book value in keeping with the benefits provided by the plan. Additionally, the Company has contracts outstanding pursuant to a funding agreement-backed notes program registered with the United States Securities and Exchange Commission (the “SEC”) which offered notes to both institutional and retail investors.
	The segment’s products complement the Company’s overall asset/liability management in that the terms may be tailored to the needs of the Company as the seller of the contracts. Stable value product account balances include GICs and funding agreements the Company has issued. As of December 31, 2014 and 2013, the Company had $39.8 million and $0.2 billion, respectively, of stable value product account balances marketed through structured programs. Most GICs and funding agreements the Company has written have maturities of one to ten years.
	As of December 31, 2014, future maturities of stable value products were as follows:
	Year of Maturity		Amount
			(Dollars In Millions)
	2015		$	624.3
	2016-2017		791.4
	2018-2019		488.0
	Thereafter		55.8
	Derivative Financial Instruments
	The Company records its derivative financial instruments in the consolidated balance sheet in “other long-term investments” and “other liabilities” in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in the other comprehensive income (loss), depending upon whether the derivative instrument qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. For cash flow hedges, the effective portion of their gain or loss is reported as a component of other comprehensive income (loss) and reclassified into earnings in the period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. Effectiveness of the Company’s hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship in earnings. Changes in the fair value of derivatives that are recognized in current earnings are reported in “Realized investment gains (losses) - Derivative financial instruments”. For additional information, see Note 23, Derivative Financial Instruments.
	Insurance Liabilities and Reserves
	Establishing an adequate liability for the Company’s obligations to policyholders requires the use of certain assumptions. Estimating liabilities for future policy benefits on life and health insurance products requires the use of assumptions relative to future investment yields, mortality, morbidity, persistency, and other assumptions based on the Company’s historical experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Determining liabilities for the Company’s property and casualty insurance products also requires the use of assumptions, including the projected levels of used vehicle prices, the frequency and severity of claims, and the effectiveness of internal processes designed to reduce the level of claims. The Company’s results depend significantly upon the extent to which its actual claims experience is consistent with the assumptions the Company used in determining its reserves and pricing its products. The Company’s reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. The Company cannot determine with precision the ultimate amounts that it will pay for actual claims or the timing of those payments.
	Guaranteed Minimum Withdrawal Benefits
	The Company also establishes reserves for guaranteed minimum withdrawal benefits (“GMWB”) on its variable annuity (“VA”) products. The GMWB is valued in accordance with FASB guidance under the ASC Derivatives and Hedging Topic which utilizes the valuation technique prescribed by the ASC Fair Value Measurements and Disclosures Topic, which requires the liability to be recorded at fair value using current implied volatilities for the equity indices. The methods used to estimate the liabilities employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience, with attained age factors varying from 44.5% to 100%. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. The Company reinsures certain risks associated with the GMWB to Shades Creek Captive Insurance (“Shades Creek”), a direct wholly owned insurance subsidiary of PLC. As of December 31, 2014, the Company’s net GMWB liability held, including the impact of reinsurance was $25.9 million.
	Goodwill
	Accounting for goodwill requires an estimate of the future profitability of the associated lines of business to assess the recoverability of the capitalized acquisition goodwill. The Company evaluates the carrying value of goodwill at the segment (or reporting unit) level at least annually and between annual evaluations if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Such circumstances could include, but are not limited to: 1) a significant adverse change in legal factors or in business climate, 2) unanticipated competition, or 3) an adverse action or assessment by a regulator. When evaluating whether goodwill is impaired, the Company first determines through qualitative analysis whether relevant events and circumstances indicate that it is more likely than not that segment goodwill balances are impaired as of the testing date. If it is determined that it is more likely than not that impairment exists, the Company compares its estimate of the fair value of the reporting unit to which the goodwill is assigned to the reporting unit’s carrying amount, including goodwill. The Company utilizes a fair value measurement (which includes a discounted cash flows analysis) to assess the carrying value of the reporting units in consideration of the recoverability of the goodwill balance assigned to each reporting unit as of the measurement date. The Company’s material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). The cash flows used to determine the fair value of the Company’s reporting units are dependent on a number of significant assumptions. The Company’s estimates, which consider a market participant view of fair value, are subject to change given the inherent uncertainty in predicting future results and cash flows, which are impacted by such things as policyholder behavior, competitor pricing, capital limitations, new product introductions, and specific industry and market conditions. As of December 31, 2014, the Company performed its annual evaluation of goodwill and determined that no adjustment to impair goodwill was necessary. As of December 31, 2014, the Company had goodwill of $77.6 million.
	Income Taxes
	The Company is included in the consolidated federal income tax return of PLC. The Company utilizes the asset and liability method of accounting for income taxes in accordance with FASB ASC Topic 740. The method of allocation of current income taxes between the affiliates is subject to a written agreement under which the Company incurs a liability to PLC to the extent that a separate return calculation indicates that the Company has a federal income tax liability. If the Company has an income tax benefit, the benefit is recorded currently to the extent it can be carried back against prior years’ separate company income tax expense. Any amount not carried back is carried forward on a separate company basis (generally without a time limit), and the tax benefit is reflected in future periods when the Company generates taxable income. Income taxes recoverable (payable) are recorded in income taxes receivable (payable), respectively, and are settled periodically, per the tax sharing agreement. In general, income tax provisions are based on the income reported for financial statement purposes. Deferred income taxes arise from the recognition of temporary differences between the basis of assets and liabilities determined for financial reporting purposes and the basis determined for income tax purposes. Such temporary differences are principally related to net unrealized gains (losses), deferred policy acquisition costs and value of business acquired, and future policy benefits and claims.
	The Company analyzes whether it needs to establish a valuation allowance on each of its deferred tax assets. In performing this analysis, the Company first considers the need for a valuation allowance on each separate deferred tax asset. Ultimately, it analyzes this need in the aggregate in order to prevent the double-counting of expected future taxable income in each of the foregoing separate analyses.
	Variable Interest Entities
	The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the FASB ASC (excluding debt and equity securities held as trading, available-for-sale, or held-to-maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a Variable Interest Entity (“VIE”). If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. For more information on the Company’s investment in a VIE refer to Note 6, Investment Operations, to the consolidated financial statements.
	Policyholder Liabilities, Revenues, and Benefits Expense
	Traditional Life, Health, and Credit Insurance Products
	Traditional life insurance products consist principally of those products with fixed and guaranteed premiums and benefits, and they include whole life insurance policies, term and term-like life insurance policies, limited payment life insurance policies, and certain annuities with life contingencies. Traditional life insurance premiums are recognized as revenue when due. Health and credit insurance premiums are recognized as revenue over the terms of the policies. Benefits and expenses are associated with earned premiums so that profits are recognized over the life of the contracts.  This is accomplished by means of the provision for liabilities for future policy benefits and the amortization of DAC and VOBA. Gross premiums in excess of net premiums related to immediate annuities are deferred and recognized over the life of the policy.
	Liabilities for future policy benefits on traditional life insurance products have been computed using a net level method including assumptions as to investment yields, mortality, persistency, and other assumptions based on the Company’s experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Reserve investment yield assumptions on December 31, 2014, range from approximately 2.0% to 7.5%. The liability for future policy benefits and claims on traditional life, health, and credit insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. Policy claims are charged to expense in the period in which the claims are incurred.
	Activity in the liability for unpaid claims for life and health insurance is summarized as follows:
			As of December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Balance beginning of year		$	334,450		$	326,633		$	312,799
	Less: reinsurance		117,502			155,341			161,450
	Net balance beginning of year		216,948			171,292			151,349
Incurred related to:
Current year		1,075,005			698,028			702,555
Prior year		102,936			68,396			62,926
Total incurred		1,177,941			766,424			765,481
Paid related to:
Current year		1,017,193			682,877			664,744
Prior year		121,966			85,146			80,794
Total paid		1,139,159			768,023			745,538
Other changes:
Acquisition and reserve transfers		—			47,255		-1	—
Net balance end of year		255,730			216,948			171,292
Add: reinsurance		163,671			117,502			155,341
Balance end of year		$	419,401		$	334,450		$	326,633
	-1		This amount represents the net liability, before reinsurance, for unpaid claims as of December 31, 2013 for MONY Life Insurance Company. The claims activity from the acquisition date of October 1, 2013 through December 31, 2013 for MONY Life Insurance Company is not reflected in this chart.
Universal Life and Investment Products
Universal life and investment products include universal life insurance, guaranteed investment contracts, guaranteed funding agreements, deferred annuities, and annuities without life contingencies. Premiums and policy fees for universal life and investment products consist of fees that have been assessed against policy account balances for the costs of insurance, policy administration, and surrenders. Such fees are recognized when assessed and earned. Benefit reserves for universal life and investment products represent policy account balances before applicable surrender charges plus certain deferred policy initiation fees that are recognized in income over the term of the policies. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policy account balances and interest credited to policy account balances. Interest rates credited to universal life products ranged from 1.0% to 8.75% and investment products ranged from 0.2% to 10% in 2014.
The Company establishes liabilities for fixed indexed annuity (“FIA”) products. These products are deferred fixed annuities with a guaranteed minimum interest rate plus a contingent return based on equity market performance. The FIA product is considered a hybrid financial instrument under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC” or “Codification”) Topic 815—Derivatives and Hedging which allows the Company to make the election to value the liabilities of these FIA products at fair value. This election was made for the FIA products issued prior to 2010 as the policies were issued. These products are no longer being marketed. The changes in the fair value of the liability for these FIA products are recorded in Benefit and settlement expenses with the liability being recorded in Annuity account balances. For more information regarding the determination of fair value of annuity account balances please refer to Note 22, Fair Value of Financial Instruments.  Premiums and policy fees for these FIA products consist of fees that have been assessed against the policy account balances for surrenders. Such fees are recognized when assessed and earned.
During 2013, the Company began marketing a new FIA product. These products are also deferred fixed annuities with a guaranteed minimum interest rate plus a contingent return based on equity market performance and are considered hybrid financial instruments under the FASB’s ASC Topic 815—Derivatives and Hedging. The Company did not elect to value these FIA products at fair value. As a result the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities. Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses)—Derivative financial instruments. For more information regarding the determination of fair value of the FIA embedded derivative refer to Note 22, Fair Value of Financial Instruments. The host contract is accounted for as a debt instrument in accordance with ASC Topic 944—Financial Services—Insurance and is recorded in Annuity account balances with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period.
During 2014, the Company began marketing a new indexed universal life (“IUL”) product. These products are universal life products with a guaranteed minimum interest rate plus a contingent return based on equity market performance and are considered hybrid financial instruments under the FASB’s ASC Topic 815—Derivatives and Hedging. The Company did not elect to value these IUL products at fair value. As a result the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities. Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses)—Derivative financial instruments. For more information regarding the determination of fair value of the IUL embedded derivative refer to Note 22, Fair Value of Financial Instruments. The host contract is accounted for as a debt instrument in accordance with ASC Topic 944—Financial Services—Insurance and is recorded in Future policy benefits and claims with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period.
The Company’s accounting policies with respect to variable universal life (“VUL”) and VA are identical except that policy account balances (excluding account balances that earn a fixed rate) are valued at fair value and reported as components of assets and liabilities related to separate accounts.
The Company establishes liabilities for guaranteed minimum death benefits (“GMDB”) on its VA products. The methods used to estimate the liabilities employ assumptions about mortality and the performance of equity markets. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience, with attained age factors varying from 49% - 80%. Future declines in the equity market would increase the Company’s GMDB liability. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. Our GMDB as of December 31, 2014, are subject to a dollar for dollar reduction upon withdrawal of related annuity deposits on contracts issued prior to January 1, 2003. The Company reinsures certain risks associated with the GMDB to Shades Creek. As of December 31, 2014, the GMDB reserve, including the impact of reinsurance was $21.7 million.
Property and Casualty Insurance Products
Property and casualty insurance products include service contract business, surety bonds, and guaranteed asset protection (“GAP). Premiums for service contracts and GAP products are recognized based on expected claim patterns. For all other products, premiums are generally recognized over the terms of the contract on a pro-rata basis. Fee income from providing administrative services is recognized as earned when the related services are performed. Unearned premium reserves are maintained for the portion of the premiums that is related to the unexpired period of the policy. Benefit reserves are recorded when insured events occur. Benefit reserves include case basis reserves for known but unpaid claims as of the balance sheet date as well as incurred but not reported (“IBNR”) reserves for claims where the insured event has occurred but has not been reported to the Company as of the balance sheet date. The case basis reserves and IBNR are calculated based on historical experience and on assumptions relating to claim severity and frequency, the level of used vehicle prices, and other factors. These assumptions are modified as necessary to reflect anticipated trends.
Reinsurance
The Company uses reinsurance extensively in certain of its segments and accounts for reinsurance and the recognition of the impact of reinsurance costs in accordance with the ASC Financial Services—Insurance Topic. The following summarizes some of the key aspects of the Company’s accounting policies for reinsurance.
Reinsurance Accounting Methodology—Ceded premiums of the Company’s traditional life insurance products are treated as an offset to direct premium and policy fee revenue and are recognized when due to the assuming company. Ceded claims are treated as an offset to direct benefits and settlement expenses and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as an offset to benefits and settlement expenses and are recognized during the applicable financial reporting period. Expense allowances paid by the assuming companies which are allocable to the current period are treated as an offset to other operating expenses. Since reinsurance treaties typically provide for allowance percentages that decrease over the lifetime of a policy, allowances in excess of the “ultimate” or final level allowance are capitalized. Amortization of capitalized reinsurance expense allowances representing recovery of acquisition costs is treated as an offset to direct amortization of DAC or VOBA. Amortization of deferred expense allowances is calculated as a level percentage of expected premiums in all durations given expected future lapses and mortality and accretion due to interest.
The Company utilizes reinsurance on certain short duration insurance contracts (primarily issued through the Asset Protection segment). As part of these reinsurance transactions the Company receives reinsurance allowances which reimburse the Company for acquisition costs such as commissions and premium taxes. A ceding fee is also collected to cover other administrative costs and profits for the Company. As a component of reinsurance costs, reinsurance allowances are accounted for in accordance with the relevant provisions of ASC Financial Services—Insurance Topic, which state that reinsurance costs should be amortized over the contract period of the reinsurance if the contract is short-duration. Accordingly, reinsurance allowances received related to short-duration contracts are capitalized and charged to expense in proportion to premiums earned. Ceded unamortized acquisition costs are netted with direct unamortized acquisition costs in the balance sheet.
Ceded premiums and policy fees on the Company’s fixed universal life (“UL”), VUL, bank-owned life insurance (“BOLI”), and annuity products reduce premiums and policy fees recognized by the Company. Ceded claims are treated as an offset to direct benefits and settlement expenses and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as an offset to benefits and settlement expenses and are recognized during the applicable valuation period.
Since reinsurance treaties typically provide for allowance percentages that decrease over the lifetime of a policy, allowances in excess of the “ultimate” or final level allowance are capitalized. Amortization of capitalized reinsurance expense allowances are amortized based on future expected gross profits. Assumptions regarding mortality, lapses, and interest rates are continuously reviewed and may be periodically changed. These changes will result in “unlocking” that changes the balance in the ceded deferred acquisition cost and can affect the amortization of DAC and VOBA. Ceded unearned revenue liabilities are also amortized based on expected gross profits. Assumptions are based on the best current estimate of expected mortality, lapses and interest spread.
The Company has also assumed certain policy risks written by other insurance companies through reinsurance agreements. Premiums and policy fees as well as Benefits and settlement expenses include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Assumed reinsurance is accounted for in accordance with ASC Financial Services—Insurance Topic.
Reinsurance Allowances—Long-Duration Contracts—Reinsurance allowances are intended to reimburse the ceding company for some portion of the ceding company’s commissions, expenses, and taxes. The amount and timing of reinsurance allowances (both first year and renewal allowances) are contractually determined by the applicable reinsurance contract and do not necessarily bear a relationship to the amount and incidence of expenses actually paid by the ceding company in any given year.
Ultimate reinsurance allowances are defined as the lowest allowance percentage paid by the reinsurer in any policy duration over the lifetime of a universal life policy (or through the end of the level term period for a traditional life policy). Ultimate reinsurance allowances are determined during the negotiation of each reinsurance agreement and will differ between agreements.
The Company determines its “cost of reinsurance” to include amounts paid to the reinsurer (ceded premiums) net of amounts reimbursed by the reinsurer (in the form of allowances). As noted within ASC Financial Services—Insurance Topic, “The difference, if any, between amounts paid for a reinsurance contract and the amount of the liabilities for policy benefits relating to the underlying reinsured contracts is part of the estimated cost to be amortized.” The Company’s policy is to amortize the cost of reinsurance over the life of the underlying reinsured contracts (for long-duration policies) in a manner consistent with the way in which benefits and expenses on the underlying contracts are recognized. For the Company’s long-duration contracts, it is the Company’s practice to defer reinsurance allowances as a component of the cost of reinsurance and recognize the portion related to the recovery of acquisition costs as a reduction of applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense in proportion to net revenue recognized. The remaining balance of reinsurance allowances are included as a component of the cost of reinsurance and those allowances which are allocable to the current period are recorded as an offset to operating expenses in the current period consistent with the recognition of benefits and expenses on the underlying reinsured contracts. This practice is consistent with the Company’s practice of capitalizing direct expenses (e.g. commissions), and results in the recognition of reinsurance allowances on a systematic basis over the life of the reinsured policies on a basis consistent with the way in which acquisition costs on the underlying reinsured contracts would be recognized. In some cases reinsurance allowances allocable to the current period may exceed non-deferred direct costs, which may cause net other operating expenses (related to specific contracts) to be negative.
Amortization of Reinsurance Allowances—Reinsurance allowances do not affect the methodology used to amortize DAC and VOBA, or the period over which such DAC and VOBA are amortized. Reinsurance allowances offset the direct expenses capitalized, reducing the net amount that is capitalized. DAC and VOBA on traditional life policies are amortized based on the pattern of estimated gross premiums of the policies in force. Reinsurance allowances do not affect the gross premiums, so therefore they do not impact traditional life amortization patterns. DAC and VOBA on universal life products are amortized based on the pattern of estimated gross profits of the policies in force. Reinsurance allowances are considered in the determination of estimated gross profits, and therefore do impact amortization patterns.
Reinsurance Assets and Liabilities—Claim liabilities and policy benefits are calculated consistently for all policies in accordance with GAAP, regardless of whether or not the policy is reinsured. Once the claim liabilities and policy benefits for the underlying policies are estimated, the amounts recoverable from the reinsurers are estimated based on a number of factors including the terms of the reinsurance contracts, historical payment patterns of reinsurance partners, and the financial strength and credit worthiness of reinsurance partners and recorded as Reinsurance receivables on the balance sheet. Liabilities for unpaid reinsurance claims are produced from claims and reinsurance system records, which contain the relevant terms of the individual reinsurance contracts. The Company monitors claims due from reinsurers to ensure that balances are settled on a timely basis. Incurred but not reported claims are reviewed by the Company’s actuarial staff to ensure that appropriate amounts are ceded.
The Company analyzes and monitors the credit worthiness of each of its reinsurance partners to minimize collection issues. For newly executed reinsurance contracts with reinsurance companies that do not meet predetermined standards, the Company requires collateral such as assets held in trusts or letters of credit.
Components of Reinsurance Cost—The following income statement lines are affected by reinsurance cost:
Premiums and policy fees (“reinsurance ceded” on the Company’s financial statements) represent consideration paid to the assuming company for accepting the ceding company’s risks. Ceded premiums and policy fees increase reinsurance cost.
Benefits and settlement expenses include incurred claim amounts ceded and changes in ceded policy reserves. Ceded benefits and settlement expenses decrease reinsurance cost.
Amortization of deferred policy acquisition cost and VOBA reflects the amortization of capitalized reinsurance allowances representing recovery of acquisition costs. Ceded amortization decreases reinsurance cost.
Other expenses include reinsurance allowances paid by assuming companies to the Company less amounts representing recovery of acquisition costs. Reinsurance allowances decrease reinsurance cost.
The Company’s reinsurance programs do not materially impact the other income line of the Company’s income statement. In addition, net investment income generally has no direct impact on the Company’s reinsurance cost. However, it should be noted that by ceding business to the assuming companies, the Company forgoes investment income on the reserves ceded to the assuming companies. Conversely, the assuming companies will receive investment income on the reserves assumed which will increase the assuming companies’ profitability on business assumed from the Company.
Accounting Pronouncements Not Yet Adopted
Accounting Standards Update (“ASU”) No. 2014-08—Reporting Discontinued Operations and Disclosure of Disposals of Components of an Entity.  This Update changes the requirements for reporting discontinued operations and related disclosures. The Update limits the definition of a discontinued operation to disposals that represent “strategic shifts” that will have a major effect on an entity’s operation and financial results. Additionally, the Update requires enhanced disclosures about the components of discontinued operations and the financial effects of the disposal. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Company is reviewing the additional disclosures required by the Update, and will apply the revised guidance to any disposals occurring after the effective date.
ASU No. 2014-09—Revenue from Contracts with Customers (Topic 606).  This Update provides for significant revisions to the recognition of revenue from contracts with customers across various industries. Under the new guidance, entities are required to apply a prescribed 5-step process to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The accounting for revenues associated with insurance products is not within the scope of this Update. The Update is effective for annual and interim periods beginning after December 15, 2016. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption.
ASU No. 2014-11—Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.  This Update changes the requirements for classification of certain repurchase agreements, and will expand the use of secured borrowing accounting for repurchase-to-maturity transactions. In addition, the Update requires additional disclosures for repurchase agreements accounted for both as sales and as secured borrowings. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Update is not expected to impact the Company’s financial position or results of operations, and the Company has reviewed its policies and processes to ensure compliance with the additional disclosure requirements.
ASU No. 2014-15—Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.  This Update will require management to assess an entity’s ability to continue as a going concern, and will require footnote disclosures in certain circumstances. Under the updated guidance, management should consider relevant conditions and evaluate whether it is probable that the entity will be unable to meet its obligations within one year after the issuance date of the financial statements. The Update is effective for annual periods ending December 31, 2016 and interim periods thereafter, with early adoption is permitted. The amendments in this Update will not impact the Company’s financial position or results of operations. However, the new guidance will require a formal assessment of going concern by management based on criteria prescribed in the new guidance. The Company is reviewing its policies and processes to ensure compliance with the new guidance.
ASU No. 2014-17—Business Combinations (Topic 805).  This Update relates to “pushdown accounting”, which refers to pushing down the acquirer’s accounting and reporting basis (which is recognized in conjunction with its accounting for a business combination) to the acquiree’s standalone financial statements. The new guidance makes pushdown accounting optional for an acquiree that is a business or nonprofit activity when there is a change-in- control event (e.g., the acquirer in a business combination obtains control over the acquiree). In addition, the staff of the SEC released Staff Accounting Bulletin (“SAB”) No. 115, which rescinds SAB Topic 5J, “New Basis of Accounting Required in Certain Circumstances” (the SEC staff’s pre-existing guidance on pushdown accounting) and conforms SEC guidance on pushdown accounting to the FASB’s new guidance. The new pushdown accounting guidance became effective upon its issuance on November 18, 2014. Although now optional, the Company expects to apply pushdown accounting to its standalone financial statements effective with the Company becoming a wholly owned subsidiary of Dai-ichi Life on February 1, 2015.
ASU No. 2015-02—Consolidation—Amendments to the Consolidation Analysis.  This Update makes several targeted changes to generally accepted accounting principles, including a) eliminating the presumption that a general partner should consolidate a limited partnership and b) eliminating the consolidation model specific to limited partnerships. The amendments also clarify when fees and related party relationships should be considered in the consolidation of variable interest entities. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2015. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption.

SIGNIFICANT_ACQUISITIONS

SIGNIFICANT ACQUISITIONS	12 Months Ended
	Dec. 31, 2014
SIGNIFICANT ACQUISITIONS
SIGNIFICANT ACQUISITIONS
	3.SIGNIFICANT ACQUISITIONS
	On October 1, 2013 the Company completed the acquisition contemplated by the master agreement (the “Master Agreement”) dated April 10, 2013. Pursuant to that Master Agreement with AXA Financial, Inc. (“AXA”) and AXA Equitable Financial Services, LLC (“AEFS”), the Company acquired the stock of MONY Life Insurance Company (“MONY”) from AEFS and entered into a reinsurance agreement (the “Reinsurance Agreement”) pursuant to which it reinsured on a 100% indemnity reinsurance basis certain business (the “MLOA Business”) of MONY Life Insurance Company of America (“MLOA”). The final aggregate purchase price of MONY was $689 million. The ceding commission for the reinsurance of the MLOA Business was $370 million. Together, the purchase of MONY and reinsurance of the MLOA Business are hereto referred to as (the “MONY acquisition”). The MONY acquisition allowed the Company to invest its capital and increase the scale of its Acquisitions segment. The MONY acquisition business is comprised of traditional and universal life insurance policies and fixed and variable annuities, most of which were written prior to 2004.
	The MONY acquisition was accounted for under the acquisition method of accounting under ASC Topic 805. In accordance with ASC 805-20-30, all identifiable assets acquired and liabilities assumed were measured at fair value as of the acquisition date. Within one year of the acquisition date, as a result of new information obtained about facts and circumstances that existed as of the acquisition date, the Company recorded certain measurement period adjustments to fixed maturities, mortgage loans, cash, accounts and premiums receivable, VOBA, other assets, deferred income taxes, future policy benefits and claims, other policyholders’ funds, and other liabilities. These were customary adjustments that occurred during the normal course of reviewing and integrating the MONY acquisition. The net result on the amount of VOBA recorded by the Company in relation to the MONY acquisition was to decrease VOBA by approximately $14.0 million. This impact has been revised in the comparative consolidated balance sheet presented as of December 31, 2013. The Company has determined that the impact on amortization and other related amounts within the comparative interim and annual periods from that previously presented in the annual or interim consolidated condensed statements of income is immaterial. The amounts presented in the following table related to the MONY acquisition (presented as of the acquisition date of October 1, 2013) have been retrospectively revised for the aforementioned measurement period adjustments.
	The following table summarizes the consideration paid for the acquisition and the determination of the fair value of assets acquired and liabilities assumed at the acquisition date:
			Fair Value
			As of
			October 1, 2013
			(Dollars In Thousands)
	Assets
	Fixed maturities, at fair value		$	6,557,853
	Equity securities, at fair value		108,413
	Mortgage loans		830,415
	Policy loans		967,534
	Short-term investments		130,963
	Total investments		8,595,178
	Cash		216,164
	Accrued investment income		114,695
	Accounts and premiums receivable, net of allowance for uncollectible amounts		26,055
	Reinsurance receivables		422,692
	Value of business acquired		205,767
	Other assets		5,104
	Income tax receivable		21,197
	Deferred income taxes		188,142
	Separate account assets		195,452
	Total assets		$	9,990,446
	Liabilities
	Future policy benefits and claims		$	7,645,969
	Unearned premiums		3,066
	Total policy liabilities and accruals		7,649,035
	Annuity account balances		752,163
	Other policyholders’ funds		636,448
	Other liabilities		66,124
	Non-recourse funding obligation		2,548
	Separate account liabilities		195,344
	Total liabilities		9,301,662
	Net assets acquired		$	688,784
	The following (unaudited) pro forma condensed consolidated results of operations assumes that the aforementioned acquisition was completed as of January 1, 2012:
			Unaudited
			For The Year Ended
			December 31,
			2013			2012
			(Dollars In Thousands)
	Revenue		$	4,245,388	-1	$	4,330,935
	Net income		$	325,783	-2	$	365,204
		-1		Includes $203.8 million of revenue recognized in the Company’s net income for the year ended December 31, 2013.
		-2		Includes $27.9 million of pre-tax net income recognized by the Company for the year ended December 31, 2013.

MONY_CLOSED_BLOCK_OF_BUSINESS

MONY CLOSED BLOCK OF BUSINESS	12 Months Ended
	Dec. 31, 2014
MONY CLOSED BLOCK OF BUSINESS
MONY CLOSED BLOCK OF BUSINESS
	4.MONY CLOSED BLOCK OF BUSINESS
	In 1998, MONY converted from a mutual insurance company to a stock corporation (“demutualization”). In connection with its demutualization, an accounting mechanism known as a closed block (the “Closed Block”) was established for certain individuals’ participating policies in force as of the date of demutualization. Assets, liabilities, and earnings of the Closed Block are specifically identified to support its participating policyholders. The Company acquired the Closed Block in conjunction with the MONY acquisition as discussed in Note 3,  Significant Acquisitions.
	Assets allocated to the Closed Block inure solely to the benefit of each Closed Block’s policyholders and will not revert to the benefit of MONY or the Company. No reallocation, transfer, borrowing or lending of assets can be made between the Closed Block and other portions of MONY’s general account, any of MONY’s separate accounts or any affiliate of MONY without the approval of the Superintendent of The New York State Insurance Department (the “Superintendent”). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the general account.
	The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in accumulated other comprehensive income (loss) (“AOCI”)) at the acquisition date represented the estimated maximum future post-tax earnings from the Closed Block that would be recognized in income from continuing operations over the period the policies and contracts in the Closed Block remain in force. In connection with the acquisition of MONY, the Company has developed an actuarial calculation of the expected timing of MONY’s Closed Block’s earnings as of October 1, 2013.
	If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in the Company’s net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block.
	Many expenses related to Closed Block operations, including amortization of VOBA, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block.
	Summarized financial information for the Closed Block as of December 31, 2013 and December 31, 2014 is as follows:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Closed block liabilities
	Future policy benefits, policyholders’ account balances and other	$	6,138,505		$	6,261,819
	Policyholder dividend obligation	366,745			190,494
	Other liabilities	53,838			1,259
	Total closed block liabilities	6,559,088			6,453,572
	Closed block assets
	Fixed maturities, available-for-sale, at fair value	$	4,524,037		$	4,113,829
	Equity securities, available-for-sale, at fair value	5,387			5,223
	Mortgage loans on real estate	448,855			601,959
	Policy loans	771,120			802,013
	Cash and other invested assets	30,984			140,577
	Other assets	221,270			206,938
	Total closed block assets	6,001,653			5,870,539
	Excess of reported closed block liabilities over closed block assets	557,435			583,033
	Portion of above representing accumulated other comprehensive income:
	Net unrealized investments gains (losses) net of deferred tax benefit of $0 and $1,074 net of policyholder dividend obligation of $106,886 and $12,720	—			(1,994		)
	Future earnings to be recognized from closed block assets and closed block liabilities	$	557,435		581,039
	Reconciliation of the policyholder dividend obligation for the years ending December 31, 2013 and 2014 is as follows:
		For The
		Year Ended
		December 31,
		2014			2013
		(Dollars In Thousands)
	Policyholder dividend obligation, beginning balance	$	190,494		$	213,350
	Applicable to net revenue (losses)	(910		)	(10,136		)
	Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation	177,161			(12,720		)
	Policyholder dividend obligation, end of period	$	366,745		$	190,494
	Closed Block revenues and expenses were as follows:
		For The Year Ended
		December 31,
		2014			2013
		(Dollars In Thousands)
	Revenues
	Premiums and other income	$	212,765		$	64,171
	Net investment income	239,028			51,141
	Net investment gains	10,528			9,252
	Total revenues	462,321			124,564
	Benefits and other deductions
	Benefits and settlement expenses	417,667			113,564
	Other operating expenses	674			548
	Total benefits and other deductions	418,341			114,112
	Net revenues before income taxes	43,980			10,452
	Income tax expense	20,377			3,658
	Net revenues	$	23,603		$	6,794

DAIICHI_MERGER

DAI-ICHI MERGER	12 Months Ended
	Dec. 31, 2014
DAI-ICHI MERGER
DAI-ICHI MERGER
	5.DAI-ICHI MERGER
	On February 1, 2015 PLC, subsequent to required approvals from PLC’s shareholders and relevant regulatory authorities, became a wholly owned subsidiary as contemplated by the Agreement and Plan of Merger (the “Merger Agreement”) with Dai-ichi Life and DL Investment (Delaware), Inc., a Delaware corporation and wholly owned subsidiary of Dai-ichi Life, which provides for the merger of DL Investment (Delaware), Inc. with and into PLC (the “Merger”), with PLC surviving the Merger as a wholly owned subsidiary of Dai-ichi Life. On February 1, 2015 each share of PLC’s common stock outstanding was converted into the right to receive $70 per share, without interest, (the “Per Share Merger Consideration”). The aggregate cash consideration to be paid in connection with the Merger for the outstanding shares of common stock was approximately $5.6 billion.
	The Merger resulted in the Company recognizing certain contingent or transaction related costs. Subsequent to the Merger, the Company will apply “pushdown” accounting by applying the guidance allowed by ASC 805, Business Combinations, including the initial recognition of most of the Company’s assets and liabilities at fair value as of the acquisition date, and similarly goodwill calculated and recognized based on the terms of the transaction and the new basis of net assets of the Company. The new basis of accounting will be the basis of the accounting records in the preparation of future financial statements and related disclosures.
	Treatment of Benefit Plans
	At or immediately prior to the Merger, each stock appreciation right with respect to shares of PLC’s Common Stock granted under any Stock Plan (each, a “SAR”) that was outstanding and unexercised immediately prior to the Merger and that had a base price per share of Common Stock underlying such SAR (the “Base Price”) that was less than the Per Share Merger Consideration (each such SAR, an “In-the-Money SAR”), whether or not exercisable or vested, was cancelled and converted into the right to receive an amount in cash less any applicable withholding taxes, determined by multiplying (i) the excess of the Per Share Merger Consideration over the Base Price of such In-the-Money SAR by (ii) the number of shares of PLC’s Common Stock subject to such In- the-Money SAR (such amount, the “SAR Consideration”).
	At or immediately prior to the effective time of the merger, each restricted stock unit with respect to a share of Common Stock granted under any Stock Plan (each, a “RSU”) that was outstanding immediately prior to the Merger, whether or not vested, was cancelled and converted into the right to receive an amount in cash, without interest, less any applicable withholding taxes, determined by multiplying (i) the Per Share Merger Consideration by (ii) the number of RSUs.
	The number of performance shares earned for each award of performance shares granted under any Stock Plan will be calculated by determining the number of performance shares that would have been paid if the subject award period had ended on the December 31 immediately preceding the Merger (based on the conditions set for payment of performance share awards for the subject award period), provided that the number of performance shares earned for each award were not less than the aggregate number of performance shares at the target performance level. Each performance share earned that was outstanding immediately prior to the Merger, whether or not vested, was cancelled and converted into the right to receive an amount in cash, without interest, less any applicable withholding taxes, determined by multiplying (i) the Per Share Merger Consideration by (ii) the number of Performance Shares.

INVESTMENT_OPERATIONS

INVESTMENT OPERATIONS	12 Months Ended
	Dec. 31, 2014
INVESTMENT OPERATIONS
INVESTMENT OPERATIONS
	6.INVESTMENT OPERATIONS
	Major categories of net investment income are summarized as follows:
			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Fixed maturities		$	1,711,722		$	1,508,924		$	1,453,018
	Equity securities		41,533			26,735			20,740
	Mortgage loans		360,778			333,093			349,845
	Investment real estate		4,483			3,555			3,289
	Short-term investments		109,592			72,433			62,887
			2,228,108			1,944,740			1,889,779
	Other investment expenses		130,095			108,552			100,441
	Net investment income		$	2,098,013		$	1,836,188		$	1,789,338
	Net realized investment gains (losses) for all other investments are summarized as follows:
			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Fixed maturities		$	75,074		$	63,161		$	67,669
	Equity securities		495			3,276			(45		)
	Impairments on fixed maturity securities		(7,275		)	(19,100		)	(58,144		)
	Impairments on equity securities		—			(3,347		)	—
	Modco trading portfolio		142,016			(178,134		)	177,986
	Other investments		(12,283		)	(9,840		)	(12,774		)
	Total realized gains (losses) - investments		$	198,027		$	(143,984	)	$	174,692
	For the year ended December 31, 2014, gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $76.7 million and gross realized losses were $8.1 million, including $6.9 million of impairment losses. For the year ended December 31, 2013, gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $72.6 million and gross realized losses were $27.9 million, including $21.7 million of impairment losses. For the year ended December 31, 2012, gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) were $73.2 million and gross realized losses were $60.3 million, including $54.7 million of impairment losses.
	For the year ended December 31, 2014, the Company sold securities in an unrealized gain position with a fair value (proceeds) of $1.7 billion. The gain realized on the sale of these securities was $76.7 million. For the year ended December 31, 2013, the Company sold securities in an unrealized gain position with a fair value (proceeds) of $2.3 billion. The gain realized on the sale of these securities was $72.6 million. For the year ended December 31, 2012, the Company sold securities in an unrealized gain position with a fair value (proceeds) of $1.6 billion. The gain realized on the sale of these securities was $73.2 million.
	For the year ended December 31, 2014, the Company sold securities in an unrealized loss position with a fair value (proceeds) of $22.9 million. The loss realized on the sale of these securities was $1.2 million. The Company made the decision to exit these holdings in conjunction with our overall asset liability management process.
	For the year ended December 31, 2013, the Company sold securities in an unrealized loss position with a fair value (proceeds) of $398.2 million. The loss realized on the sale of these securities was $6.2 million. The Company made the decision to exit these holdings in conjunction with our overall asset liability management process.
	For the year ended December 31, 2012, the Company sold securities in an unrealized loss position with a fair value (proceeds) of $38.0 million. The loss realized on the sale of these securities was $5.6 million. The Company made the decision to exit these holdings in order to reduce its European financial exposure.
	The amortized cost and fair value of the Company’s investments classified as available-for-sale as of December 31, are as follows:
						Gross			Gross						Total OTTI
			Amortized			Unrealized			Unrealized			Fair			Recognized
			Cost			Gains			Losses			Value			in OCI(1)
			(Dollars In Thousands)
	2014
	Fixed maturities:
	Bonds
	Residential mortgage-backed securities		$	1,374,141		$	56,381		$	(12,264	)	$	1,418,258		$	6,404
	Commercial mortgage-backed securities		1,119,979			59,637			(2,364		)	1,177,252			—
	Other asset-backed securities		857,365			17,961			(35,950		)	839,376			(95		)
	U.S. government-related securities		1,394,028			44,149			(9,282		)	1,428,895			—
	Other government-related securities		16,939			3,233			—			20,172			—
	States, municipals, and political subdivisions		1,391,526			296,594			(431		)	1,687,689			—
	Corporate bonds		24,744,050			2,760,703			(138,975		)	27,365,778			—
			30,898,028			3,238,658			(199,266		)	33,937,420			6,309
	Equity securities		713,813			35,646			(14,153		)	735,306			—
	Short-term investments		151,572			—			—			151,572			—
			$	31,763,413		$	3,274,304		$	(213,419	)	$	34,824,298		$	6,309
	2013
	Fixed maturities:
	Bonds
	Residential mortgage-backed securities		$	1,435,349		$	34,255		$	(24,536	)	$	1,445,068		$	979
	Commercial mortgage-backed securities		963,461			26,900			(19,705		)	970,656			—
	Other asset-backed securities		926,396			15,135			(69,548		)	871,983			(51		)
	U.S. government-related securities		1,529,818			32,150			(54,078		)	1,507,890			—
	Other government-related securities		49,171			2,257			(1		)	51,427			—
	States, municipals, and political subdivisions		1,315,457			103,663			(8,291		)	1,410,829			—
	Corporate bonds		24,630,156			1,510,233			(391,813		)	25,748,576			—
			30,849,808			1,724,593			(567,972		)	32,006,429			928
	Equity securities		611,473			6,068			(36,332		)	581,209			—
	Short-term investments		80,582			—			—			80,582			—
			$	31,541,863		$	1,730,661		$	(604,304	)	$	32,668,220		$	928
		-1		These amounts are included in the gross unrealized gains and gross unrealized losses columns above.
The amortized cost and fair value of the Company’s investments classified as held-to-maturity as of December 31, 2014 are as follows:
					Gross			Gross						Total OTTI
		Amortized			Unrealized			Unrealized			Fair			Recognized
		Cost			Gains			Losses			Value			in OCI
2014
Fixed maturities:
Other		$	435,000		$	50,422		$	—		$	485,422		$	—
		$	435,000		$	50,422		$	—		$	485,422		$	—
2013
Fixed maturities:
Other		$	365,000		$	—		$	(29,324	)	$	335,676		$	—
		$	365,000		$	—		$	(29,324	)	$	335,676		$	—
During the year ended December 31, 2014 and 2013, the Company did not record any other-than-temporary impairments on held-to-maturity securities. The Company’s held-to-maturity securities did not have any gross unrecognized holding losses for the year ended December 31, 2014 and $29.3 million for the year ended December 31, 2013. The Company does not consider these unrecognized holding losses to be other-than-temporary based on certain positive factors associated with the securities which include credit ratings, financial health of the issuer, continued access of the issuer to capital markets and other pertinent information.
As of December 31, 2014 and 2013, the Company had an additional $2.8 billion and $2.8 billion of fixed maturities, $21.5 million and $21.2 million of equity securities, and $95.1 million and $52.4 million of short-term investments classified as trading securities, respectively.
The amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities as of December 31, 2014, by expected maturity, are shown below. Expected maturities of securities without a single maturity date are allocated based on estimated rates of prepayment that may differ from actual rates of prepayment.
		Available-for-sale						Held-to-maturity
		Amortized			Fair			Amortized			Fair
		Cost			Value			Cost			Value
		(Dollars In Thousands)						(Dollars In Thousands)
Due in one year or less		$	1,033,959		$	1,045,159		$	—		$	—
Due after one year through five years		7,084,156			7,547,483			—			—
Due after five years through ten years		6,203,383			6,519,436			—			—
Due after ten years		16,576,530			18,825,342			435,000			485,422
		$	30,898,028		$	33,937,420		$	435,000		$	485,422
During the year ended December 31, 2014, the Company recorded pre-tax other-than-temporary impairments of investments of $2.6 million, all of which were related to fixed maturities. Credit impairments recorded in earnings during the year ended December 31, 2014, were $7.3 million. During the year ended December 31, 2014, $4.7 million of non-credit losses previously recorded in other comprehensive income were recorded in earnings as credit losses. There were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell for the year ended December 31, 2014.
During the year ended December 31, 2013, the Company recorded pre-tax other-than-temporary impairments of investments of $10.9 million, of which $7.6 million were related to fixed maturities and $3.3 million were related to equity securities. Credit impairments recorded in earnings during the year ended December 31, 2013, were $22.4 million. During the year ended December 31, 2013, $11.5 million of non-credit losses previously recorded in other comprehensive income were recorded in earnings as credit losses. There were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell for the year ended December 31, 2013.
During the year ended December 31, 2012, the Company recorded pre-tax other-than-temporary impairments of investments of $67.1 million all of which were related to fixed maturities. Of the $67.1 million of impairments for the year ended December 31, 2012, $58.1 million were recorded in earnings and $9.0 million were recorded in other comprehensive income (loss). There were no impairments related to equity securities. For the year ended December 31, 2012, there were no other-than-temporary impairments related to fixed maturities or equity securities that the Company intended to sell or expected to be required to sell.
The following chart is a rollforward of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income (loss):
		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
Beginning balance		$	41,674		$	121,237		$	69,476
Additions for newly impaired securities		—			3,516			26,544
Additions for previously impaired securities		2,263			12,066			25,217
Reductions for previously impaired securities due to a change in expected cash flows		(28,474		)	(87,908		)	—
Reductions for previously impaired securities that were sold in the current period		—			(7,237		)	—
Other		—			—			—
Ending balance		$	15,463		$	41,674		$	121,237
The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014:
		Less Than 12 Months						12 Months or More						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
		Value			Loss			Value			Loss			Value			Loss
		(Dollars In Thousands)
Residential mortgage-backed securities		$	165,877		$	(9,547	)	$	67,301		$	(2,717	)	$	233,178		$	(12,264	)
Commercial mortgage-backed securities		49,908			(334		)	102,529			(2,030		)	152,437			(2,364		)
Other asset-backed securities		108,665			(6,473		)	537,488			(29,477		)	646,153			(35,950		)
U.S. government-related securities		231,917			(3,868		)	280,803			(5,414		)	512,720			(9,282		)
Other government-related securities		—			—			—			—			—			—
States, municipalities, and political subdivisions		1,905			(134		)	10,481			(297		)	12,386			(431		)
Corporate bonds		1,657,103			(76,285		)	776,863			(62,690		)	2,433,966			(138,975		)
Equities		17,430			(218		)	129,509			(13,935		)	146,939			(14,153		)
		$	2,232,805		$	(96,859	)	$	1,904,974		$	(116,560	)	$	4,137,779		$	(213,419	)
RMBS have a gross unrealized loss greater than twelve months of $2.7 million as of December 31, 2014. Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments.
CMBS have a gross unrealized loss greater than twelve months of $2.0 million as of December 31, 2014. Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments.
The other asset-backed securities have a gross unrealized loss greater than twelve months of $29.5 million as of December 31, 2014. This category predominately includes student-loan backed auction rate securities, the underlying collateral, of which is at least 97% guaranteed by the Federal Family Education Loan Program (“FFELP”). These unrealized losses have occurred within the Company’s auction rate securities (“ARS”) portfolio since the market collapse during 2008. At this time, the Company has no reason to believe that the U.S. Department of Education would not honor the FFELP guarantee, if it were necessary.
The U.S. government-related category has gross unrealized losses greater than twelve months of $5.4 million as of December 31, 2014. These declines were entirely related to changes in interest rates.
The corporate bonds category has gross unrealized losses greater than twelve months of $62.7 million as of December 31, 2014. The aggregate decline in market value of these securities was deemed temporary due to positive factors supporting the recoverability of the respective investments. Positive factors considered include credit ratings, the financial health of the issuer, the continued access of the issuer to capital markets, and other pertinent information.
The equities category has a gross unrealized loss greater than twelve months of $14.0 million as of December 31, 2014. The aggregate decline in market value of these securities was deemed temporary due to factors supporting the recoverability of the respective investments. Positive factors include credit ratings, the financial health of the issuer, the continued access of the issuer to the capital markets, and other pertinent information.
The Company does not consider these unrealized loss positions to be other-than-temporary, based on the aggregate factors discussed previously and because the Company has the ability and intent to hold these investments until the fair values recover, and does not intend to sell or expect to be required to sell the securities before recovering the Company’s amortized cost of the securities.
The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2013:
		Less Than 12 Months						12 Months or More						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
		Value			Loss			Value			Loss			Value			Loss
		(Dollars In Thousands)
Residential mortgage-backed securities		$	332,812		$	(14,050	)	$	209,818		$	(10,486	)	$	542,630		$	(24,536	)
Commercial mortgage-backed securities		429,228			(18,467		)	13,840			(1,238		)	443,068			(19,705		)
Other asset-backed securities		175,846			(14,555		)	497,512			(54,993		)	673,358			(69,548		)
U.S. government-related securities		891,698			(53,508		)	6,038			(570		)	897,736			(54,078		)
Other government-related securities		10,161			(1		)	—			—			10,161			(1		)
States, municipalities, and political subdivisions		172,157			(8,113		)	335			(178		)	172,492			(8,291		)
Corporate bonds		7,480,163			(353,069		)	271,535			(38,744		)	7,751,698			(391,813		)
Equities		376,776			(27,861		)	21,764			(8,471		)	398,540			(36,332		)
		$	9,868,841		$	(489,624	)	$	1,020,842		$	(114,680	)	$	10,889,683		$	(604,304	)
RMBS had a gross unrealized loss greater than twelve months of $10.5 million as of December 31, 2013. Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments.
CMBS had a gross unrealized loss greater than twelve months of $1.2 million as of December 31, 2013.  Factors such as the credit enhancement within the deal structure, the average life of the securities, and the performance of the underlying collateral support the recoverability of these investments.
The other asset-backed securities had a gross unrealized loss greater than twelve months of $55.0 million as of December 31, 2013. This category predominately includes student-loan backed auction rate securities, the underlying collateral, of which is at least 97% guaranteed by the FFELP. These unrealized losses have occurred within the Company’s ARS portfolio since the market collapse during 2008. At this time, the Company has no reason to believe that the U.S. Department of Education would not honor the FFELP guarantee, if it were necessary.
The corporate bonds category had gross unrealized losses less than and greater than twelve months of $353.1 million and $38.7 million, respectively, as of December 31, 2013. The aggregate decline in market value of these securities was deemed temporary due to positive factor supporting the recoverability of the respective investments.  Positive factors considered include credit ratings, the financial health of the issuer, the continued access of the issuer to capital markets, and other pertinent information.
The equities category had a gross unrealized loss greater than twelve months of $8.5 million as of December 31, 2013. The aggregate decline in market value of these securities was deemed temporary due to factors supporting the recoverability of the respective investments. Positive factors include credit ratings, the financial health of the issuer, the continued access of the issuer to the capital markets, and other pertinent information.
The Company does not consider these unrealized loss positions to be other-than-temporary, based on the aggregate factors discussed previously and because the Company has the ability and intent to hold these investments until the fair values recover, and does not intend to sell or expect to be required to sell the securities before recovering the Company’s amortized cost of the securities.
As of December 31, 2014, the Company had securities in its available-for-sale portfolio which were rated below investment grade of $1.6 billion and had an amortized cost of $1.6 billion. In addition, included in the Company’s trading portfolio, the Company held $315.1 million of securities which were rated below investment grade. Approximately $360.1 million of the below investment grade securities were not publicly traded.
The change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale is summarized as follows:
		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
Fixed maturities		$	1,224,248		$	(1,269,277	)	$	819,152
Equity securities		33,642			(20,899		)	8,484
The Company held $9.0 million of non-income producing securities for the year ended December 31, 2014.
Included in the Company’s invested assets are $1.8 billion of policy loans as of December 31, 2014. The interest rates on standard policy loans range from 3.0% to 13.64%. The collateral loans on life insurance policies have an interest rate of 13.64%.
Variable Interest Entities
The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the FASB ASC (excluding debt and equity securities held as trading, available-for-sale, or held-to-maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a Variable Interest Entity (“VIE”).  If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE.
Based on this analysis, the Company had an interest in one wholly owned subsidiary, Red Mountain, LLC (“Red Mountain”), that continued to be classified as a VIE as of December 31, 2014 and December 31, 2013. The activity most significant to Red Mountain is the issuance of a note in connection with a financing transaction involving Golden Gate V Vermont Captive Insurance Company (“Golden Gate V”) and the Company in which Golden Gate V issued non-recourse funding obligations to Red Mountain and Red Mountain issued the note to Golden Gate V. Credit enhancement on the Red Mountain Note is provided by an unrelated third party. For details of this transaction, see Note 9, Debt and Other Obligations. The Company had the power, via its 100% ownership through an affiliate, to direct the activities of the VIE, but did not have the obligation to absorb losses related to the primary risks or sources of variability to the VIE. The variability of loss would be borne primarily by the third party in its function as provider of credit enhancement on the Red Mountain Note. Accordingly, it was determined that the Company is not the primary beneficiary of the VIE. The Company’s risk of loss related to the VIE is limited to its investment of $10,000. Additionally, PLC has guaranteed the VIE’s payment obligation for the credit enhancement fee to the unrelated third party provider. As of December 31, 2014 no payments have been made or required related to this guarantee.

MORTGAGE_LOANS

MORTGAGE LOANS	12 Months Ended
	Dec. 31, 2014
MORTGAGE LOANS
MORTGAGE LOANS
	7.MORTGAGE LOANS
	Mortgage Loans
	The Company invests a portion of its investment portfolio in commercial mortgage loans. As of December 31, 2014, the Company’s mortgage loan holdings were approximately $5.1 billion. The Company has specialized in making loans on either credit-oriented commercial properties or credit-anchored strip shopping centers and apartments. The Company’s underwriting procedures relative to its commercial loan portfolio are based, in the Company’s view, on a conservative and disciplined approach. The Company concentrates on a small number of commercial real estate asset types associated with the necessities of life (retail, multi-family, senior living, professional office buildings, and warehouses). The Company believes that these asset types tend to weather economic downturns better than other commercial asset classes in which it has chosen not to participate. The Company believes that this disciplined approach has helped to maintain a relatively low delinquency and foreclosure rate throughout its history. The majority of the Company’s mortgage loans portfolio was underwritten and funded by the Company. From time to time, the Company may acquire loans in conjunction with an acquisition.
	The Company’s commercial mortgage loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, and net of valuation allowances. Interest income is accrued on the principal amount of the loan based on the loan’s contractual interest rate. Amortization of premiums and discounts is recorded using the effective yield method. Interest income, amortization of premiums and discounts and prepayment fees are reported in net investment income.
	The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2014:
		Percentage of
		Mortgage Loans
	Type	on Real Estate
	Retail	61.7	%
	Office Buildings	13.3
	Apartments	9.6
	Warehouses	7.8
	Other	7.6
		100.0	%
	The Company specializes in originating mortgage loans on either credit- oriented or credit-anchored commercial properties. No single tenant’s exposure represents more than 2.2% of mortgage loans. Approximately 71.8% of the mortgage loans are on properties located in the following states:
		Percentage of
		Mortgage Loans
	State	on Real Estate
	Texas	10.1	%
	Alabama	8.2
	Georgia	8.0
	Florida	7.3
	Tennessee	6.6
	South Carolina	4.8
	North Carolina	4.5
	Utah	4.2
	New York	4.2
	Ohio	4.0
	California	4.0
	Virginia	3.0
	Michigan	2.9
		71.8	%
	During 2014, the Company funded approximately $869.7 million of new loans, with an average loan size of $5.8 million. The average size mortgage loan in the portfolio as of December 31, 2014, was $2.8 million, and the weighted-average interest rate was 5.72%. The largest single mortgage loan was $50.0 million.
	Many of the mortgage loans have call options or interest rate reset options between 3 and 10 years. However, if interest rates were to significantly increase, we may be unable to exercise the call options or increase the interest rates on our existing mortgage loans commensurate with the significantly increased market rates. Assuming the loans are called at their next call dates, approximately $243.6 million would become due in 2015, $961.8 million in 2016 through 2020, $392.6 million in 2021 through 2025, and $120.8 million thereafter.
	The Company offers a type of commercial mortgage loan under which the Company will permit a loan-to-value ratio of up to 85% in exchange for a participating interest in the cash flows from the underlying real estate. As of December 31, 2014 and December 31, 2013, approximately $553.6 million and $666.6 million, respectively, of the Company’s mortgage loans have this participation feature. Cash flows received as a result of this participation feature are recorded as interest income. During the year ended December 31, 2014 and 2013, the Company recognized $16.7 million and $17.9 million of participating mortgage loan income, respectively.
	As of December 31, 2014, approximately $24.5 million, or 0.05%, of invested assets consisted of nonperforming, restructured or mortgage loans that were foreclosed and were converted to real estate properties. The Company does not expect these investments to adversely affect its liquidity or ability to maintain proper matching of assets and liabilities. During the year ended December 31, 2014, certain mortgage loan transactions occurred that were accounted for as troubled debt restructurings under Topic 310 of the FASB ASC. For all mortgage loans, the impact of troubled debt restructurings is generally reflected in our investment balance and in the allowance for mortgage loan credit losses. Transactions accounted for as troubled debt restructurings during the year ended December 31, 2014 included either the acceptance of assets in satisfaction of principal at a future date or the recognition of permanent impairments to principal, and were the result of agreements between the creditor and the debtor. During the year ended December 31, 2014, the Company accepted or agreed to accept assets of $33.0 million in satisfaction of $41.7 million of principal. The Company also identified one loan whose principal of $12.6 million was permanently impaired to a value of $7.3 million. These transactions resulted in realized losses of $10.3 million and a decrease in the Company’s investment in mortgage loans net of existing allowances for mortgage loans losses. Of the mortgage loan transactions accounted for as troubled debt restructurings, $23.3 million remain on the Company’s balance sheet as of December 31, 2014.
	The Company’s mortgage loan portfolio consists of two categories of loans: 1) those not subject to a pooling and servicing agreement and 2) those subject to a contractual pooling and servicing agreement. As of December 31, 2014, $24.5 million of mortgage loans not subject to a pooling and servicing agreement were nonperforming, restructured, or foreclosed and converted to real estate. Of the restructured loans, $1.5 million were nonperforming during the year ended December 31, 2014. The Company foreclosed on $1.2 million of nonperforming loans not subject to a pooling and servicing agreement during the year ended December 31, 2014.
	As of December 31, 2014, none of the loans subject to a pooling and servicing agreement were nonperforming. The Company did not foreclose on any nonperforming loans subject to pooling and servicing agreement during the year ended December 31, 2014.
	As of December 31, 2014 and 2013, the Company had an allowance for mortgage loan credit losses of $5.7 million and $3.1 million, respectively. Due to the Company’s loss experience and nature of the loan portfolio, the Company believes that a collectively evaluated allowance would be inappropriate. The Company believes an allowance calculated through an analysis of specific loans that are believed to have a higher risk of credit impairment provides a more accurate presentation of expected losses in the portfolio and is consistent with the applicable guidance for loan impairments in ASC Subtopic 310. Since the Company uses the specific identification method for calculating the allowance, it is necessary to review the economic situation of each borrower to determine those that have higher risk of credit impairment. The Company has a team of professionals that monitors borrower conditions such as payment practices, borrower credit, operating performance, and property conditions, as well as ensuring the timely payment of property taxes and insurance. Through this monitoring process, the Company assesses the risk of each loan. When issues are identified, the severity of the issues are assessed and reviewed for possible credit impairment. If a loss is probable, an expected loss calculation is performed and an allowance is established for that loan based on the expected loss. The expected loss is calculated as the excess carrying value of a loan over either the present value of expected future cash flows discounted at the loan’s original effective interest rate, or the current estimated fair value of the loan’s underlying collateral. A loan may be subsequently charged off at such point that the Company no longer expects to receive cash payments, the present value of future expected payments of the renegotiated loan is less than the current principal balance, or at such time that the Company is party to foreclosure or bankruptcy proceedings associated with the borrower and does not expect to recover the principal balance of the loan.
	A charge off is recorded by eliminating the allowance against the mortgage loan and recording the renegotiated loan or the collateral property related to the loan as investment real estate on the balance sheet, which is carried at the lower of the appraised fair value of the property or the unpaid principal balance of the loan, less estimated selling costs associated with the property:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Beginning balance	$	3,130		$	2,875
	Charge offs	(675		)	(6,838		)
	Recoveries	(2,600		)	(1,016		)
	Provision	5,865			8,109
	Ending balance	$	5,720		$	3,130
	It is the Company’s policy to cease to carry accrued interest on loans that are over 90 days delinquent. For loans less than 90 days delinquent, interest is accrued unless it is determined that the accrued interest is not collectible. If a loan becomes over 90 days delinquent, it is the Company’s general policy to initiate foreclosure proceedings unless a workout arrangement to bring the loan current is in place. For loans subject to a pooling and servicing agreement, there are certain additional restrictions and/or requirements related to workout proceedings, and as such, these loans may have different attributes and/or circumstances affecting the status of delinquency or categorization of those in nonperforming status. An analysis of the delinquent loans is shown in the following chart as of December 31:
								Greater
		30-59 Days			60-89 Days			than 90 Days		Total
		Delinquent			Delinquent			Delinquent		Delinquent
		(Dollars In Thousands)
	2014
	Commercial mortgage loans	$	8,972		$	—		$	1,484	$	10,456
	Number of delinquent commercial mortgage loans	4			—			1		5
	2013
	Commercial mortgage loans	$	14,368		$	—		$	2,208	$	16,576
	Number of delinquent commercial mortgage loans	8			—			1		9
	The Company’s commercial mortgage loan portfolio consists of mortgage loans that are collateralized by real estate. Due to the collateralized nature of the loans, any assessment of impairment and ultimate loss given a default on the loans is based upon a consideration of the estimated fair value of the real estate. The Company limits accrued interest income on impaired loans to ninety days of interest. Once accrued interest on the impaired loan is received, interest income is recognized on a cash basis. For information regarding impaired loans, please refer to the following chart as of December 31:
					Unpaid					Average		Interest		Cash Basis
		Recorded			Principal			Related		Recorded		Income		Interest
		Investment			Balance			Allowance		Investment		Recognized		Income
	(Dollars In Thousands)
2014
Commercial mortgage loans:
With no related allowance recorded	$	—		$	—		$	—	$	—	$	—	$	—
With an allowance recorded	19,632			20,603			5,720		3,272		1,224		1,280
2013
Commercial mortgage loans:
With no related allowance recorded	$	2,208		$	2,208		$	—	$	2,208	$	31	$	—
With an allowance recorded	21,288			21,281			3,130		5,322		304		304
Mortgage loans that were modified in a troubled debt restructuring were as follows:
			Pre-Modification			Post-Modification
			Outstanding			Outstanding
	Number of		Recorded			Recorded
	contracts		Investment			Investment
			(Dollars In Thousands)
2014
Troubled debt restructuring:
Commercial mortgage loans	6		$	28,648		$	19,593

DEFERRED_POLICY_ACQUISITION_CO

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED	12 Months Ended
	Dec. 31, 2014
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED.
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED
	8.DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED
	Deferred policy acquisition costs
	The balances and changes in DAC are as follows:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Balance, beginning of period	$	2,720,604		$	2,493,729
	Capitalization of commissions, sales, and issue expenses	293,672			345,885
	Amortization	(194,517		)	(112,117		)
	Change in unrealized investment gains and losses	(166,694		)	(6,893		)
	Balance, end of period	$	2,653,065		$	2,720,604
	Value of Business Acquired
	The balances and changes in VOBA are as follows:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Balance, beginning of period	$	756,018		$	731,627
	Acquisitions(1)	—			49,643
	Amortization	(113,803		)	(42,543		)
	Change in unrealized gains and losses	(140,234		)	17,291
	Balance, end of period	$	501,981		$	756,018
	(1) Includes VOBA associated with the MONY acquisition of $205.7 million, offset by $156.1 million ceded to reinsurers.
	As of February 1, 2015, the existing DAC and VOBA balance was written off in conjunction with the merger previously disclosed in Note 5, Dai-ichi Merger and in accordance with ASC Topic 805 — Business Combinations. Therefore, the disclosure of the expected amortization of VOBA over the next five years was excluded.

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2014
GOODWILL
GOODWILL
	9.GOODWILL
	The changes in the carrying amount of goodwill by segment are as follows:
					Asset		Total
		Acquisitions			Protection		Consolidated
		(Dollars In Thousands)
	Balance as of December 31, 2012	$	35,615		$	48,158	$	83,773
	Tax benefit of excess tax goodwill	(3,098		)	—		(3,098		)
	Balance as of December 31, 2013	32,517			48,158		80,675
	Tax benefit of excess tax goodwill	(3,098		)	—		(3,098		)
	Balance as of December 31, 2014	$	29,419		$	48,158	$	77,577
	During the year ended December 31, 2014 and 2013, the Company decreased its goodwill balance by approximately $3.1 million and $3.1 million, respectively. The decreases were due to an adjustment in the Acquisitions segment related to tax benefits realized during 2014 and 2013 on the portion of tax goodwill in excess of GAAP basis goodwill. See Note 2,  Summary of Significant Accounting Policies for additional information.

CERTAIN_NONTRADITIONAL_LONGDUR

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS	12 Months Ended
	Dec. 31, 2014
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
	10.CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
	The Company issues variable universal life and VA products through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder. The Company also offers, for our VA products, certain GMDB. The most significant of these guarantees involve 1) return of the highest anniversary date account value, or 2) return of the greater of the highest anniversary date account value or the last anniversary date account value compounded at 5% interest or 3) return of premium. The GMWB rider provides the contract holder with protection against certain adverse market impacts on the amount they can withdrawal and is classified as an embedded derivative and is carried at fair value on the Company’s balance sheet. The VA separate account balances subject to GMWB were $9.7 billion as of December 31, 2014. For more information regarding the valuation of and income impact of GMWB, please refer to Note 2, Summary of Significant Accounting Policies, Note 22, Fair Value of Financial Instruments, and Note 23, Derivative Financial Instruments.
	The GMDB reserve is calculated by applying a benefit ratio, equal to the present value of total expected GMDB claims divided by the present value of total expected contract assessments, to cumulative contract assessments. This amount is then adjusted by the amount of cumulative GMDB claims paid and accrued interest. Assumptions used in the calculation of the GMDB reserve were as follows: mean investment performance of 6.18%, age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience with attained age factors varying from 49% - 80%, lapse rates ranging from 2.2% - 33% (depending on product type and duration), and an average discount rate of 6.0%. Changes in the GMDB reserve are included in benefits and settlement expenses in the accompanying consolidated statements of income.
	The VA separate account balances subject to GMDB were $13.0 billion as of December 31, 2014. The total GMDB amount payable based on VA account balances as of December 31, 2014, was $108.6 million (including $93.1 million in the Annuities segment and $15.5 million in the Acquisitions segment) with a GMDB reserve of $21.4 million and $0.3 million in the Annuities and Acquisitions segment, respectively. The average attained age of contract holders as of December 31, 2014 for the Company was 69.
	These amounts exclude certain VA business which has been 100% reinsured to Commonwealth Annuity and Life Insurance Company (formerly known as Allmerica Financial Life Insurance and Annuity Company) (“CALIC”), under a Modco agreement. The guaranteed amount payable associated with the annuities reinsured to CALIC was $11.6 million and is included in the Acquisitions segment. The average attained age of contract holders as of December 31, 2014, was 65.
	Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement) is as follows:
		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
	Beginning balance	$	13,608		$	19,606		$	9,798
	Incurred guarantee benefits	10,130			(3,133		)	14,087
	Less: Paid guarantee benefits	2,043			2,865			4,279
	Ending balance	$	21,695		$	13,608		$	19,606
	Account balances of variable annuities with guarantees invested in variable annuity separate accounts are as follows:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Equity mutual funds	$	7,834,480		$	7,984,198
	Fixed income mutual funds	5,137,312			4,606,093
	Total	$	12,971,792		$	12,590,291
	Certain of the Company’s fixed annuities and universal life products have a sales inducement in the form of a retroactive interest credit (“RIC”). In addition, certain annuity contracts provide a sales inducement in the form of a bonus interest credit. The Company maintains a reserve for all interest credits earned to date. The Company defers the expense associated with the RIC and bonus interest credits each period and amortizes these costs in a manner similar to that used for DAC.
	Activity in the Company’s deferred sales inducement asset was as follows:
		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
	Deferred asset, beginning of period	$	146,651		$	143,949		$	125,527
	Amounts deferred	18,302			15,274			23,362
	Amortization	(9,803		)	(12,572		)	(4,940		)
	Deferred asset, end of period	$	155,150		$	146,651		$	143,949

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2014
REINSURANCE
REINSURANCE
	11.REINSURANCE
	The Company reinsures certain of its risks with (cedes), and assumes risks from, other insurers under yearly renewable term, coinsurance, and modified coinsurance agreements. Under yearly renewable term agreements, the Company reinsures only the mortality risk, while under coinsurance the Company reinsures a proportionate share of all risks arising under the reinsured policy. Under coinsurance, the reinsurer receives a proportionate share of the premiums less commissions and is liable for a corresponding share of all benefit payments. Modified coinsurance is accounted for in a manner similar to coinsurance except that the liability for future policy benefits is held by the ceding company, and settlements are made on a net basis between the companies.
	Reinsurance ceded arrangements do not discharge the Company as the primary insurer. Ceded balances would represent a liability of the Company in the event the reinsurers were unable to meet their obligations to us under the terms of the reinsurance agreements. The Company monitors the concentration of credit risk the Company has with any reinsurer, as well as the financial condition of its reinsurers. As of December 31, 2014, the Company had reinsured approximately 51% of the face value of its life insurance in-force. The Company has reinsured approximately 22% of the face value of its life insurance in-force with the following three reinsurers:
		·		Security Life of Denver Insurance Co. (currently administered by Hanover Re)
		·		Swiss Re Life & Health America Inc.
		·		The Lincoln National Life Insurance Co. (currently administered by Swiss Re Life & Health America Inc.)
	The Company has not experienced any credit losses for the years ended December 31, 2014, 2013, or 2012 related to these reinsurers. The Company has set limits on the amount of insurance retained on the life of any one person. In 2005, the Company increased its retention for certain newly issued traditional life products from $500,000 to $1,000,000 on any one life. During 2008, the Company increased its retention limit to $2,000,000 on certain of its traditional and universal life products.
	Reinsurance premiums, commissions, expense reimbursements, benefits, and reserves related to reinsured long-duration contracts are accounted for over the life of the underlying reinsured contracts using assumptions consistent with those used to account for the underlying contracts. The cost of reinsurance related to short-duration contracts is accounted for over the reinsurance contract period. Amounts recoverable from reinsurers, for both short-and long-duration reinsurance arrangements, are estimated in a manner consistent with the claim liabilities and policy benefits associated with reinsured policies.
	The following table presents the net life insurance in-force:
			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Millions)
	Direct life insurance in-force		$	721,036		$	726,697		$	706,416
	Amounts assumed from other companies		43,237			46,752			30,470
	Amounts ceded to other companies		(388,890		)	(416,809		)	(444,951		)
	Net life insurance in-force		$	375,383		$	356,640		$	291,935
	Percentage of amount assumed to net		12		%	13		%	10		%
	The following table reflects the effect of reinsurance on life, accident/health, and property and liability insurance premiums written and earned:
									Assumed						Percentage of
						Ceded to			from						Amount
			Gross			Other			Other			Net			Assumed to
			Amount			Companies			Companies			Amount			Net
			(Dollars In Thousands)
	For The Year Ended December 31, 2014:
	Premiums and policy fees:
	Life insurance		$	2,603,956		$	1,279,908		$	349,934		$	1,673,982	-1	20.9
	Accident/health insurance		81,037			42,741			20,804			59,100			35.2
	Property and liability insurance		218,663			73,094			8,675			154,244			5.6
	Total		$	2,903,656		$	1,395,743		$	379,413		$	1,887,326
	For The Year Ended December 31, 2013:
	Premiums and policy fees:
	Life insurance		$	2,371,871		$	1,299,631		$	306,921		$	1,379,161	-1	22.3
	Accident/health insurance		45,262			20,011			24,291			49,542			49.0
	Property and liability insurance		211,000			67,795			7,977			151,182			5.3
	Total		$	2,628,133		$	1,387,437		$	339,189		$	1,579,885
	For The Year Ended December 31, 2012
	Premiums and policy fees:
	Life insurance		$	2,226,614		$	1,228,444		$	281,711		$	1,279,881	-1	22.0
	Accident/health insurance		38,873			12,065			29,413			56,221			52.3
	Property and liability insurance		216,014			69,588			6,765			153,191			4.4
	Total		$	2,481,501		$	1,310,097		$	317,889		$	1,489,293
		-1		Includes annuity policy fees of $92.8 million, $88.7 million, and $103.8 million for the years ended December 31, 2014, 2013, and 2012, respectively.
	As of December 31, 2014 and 2013, policy and claim reserves relating to insurance ceded of $5.9 billion and $6.0 billion, respectively, are included in reinsurance receivables. Should any of the reinsurers be unable to meet its obligation at the time of the claim, the Company would be obligated to pay such claims. As of December 31, 2014 and 2013, the Company had paid $120.5 million and $79.7 million, respectively, of ceded benefits which are recoverable from reinsurers. In addition, as of December 31, 2014 and 2013, the Company had receivables of $65.8 million and $66.1 million, respectively, related to insurance assumed.
	The Company’s third party reinsurance receivables amounted to $5.9 billion and $6.0 billion as of December 31, 2014 and 2013, respectively. These amounts include ceded reserve balances and ceded benefit payments. The ceded benefit payments are recoverable from reinsurers. The following table sets forth the receivables attributable to our more significant reinsurance partners:
			As of December 31,
			2014					2013
			Reinsurance			A.M. Best		Reinsurance			A.M. Best
			Receivable			Rating		Receivable			Rating
			(Dollars In Millions)
	Security Life of Denver Insurance Company		$	842.1		A		$	819.3		A
	Swiss Re Life & Health America, Inc.		820.9			A+		823.0			A+
	Lincoln National Life Insurance Co.		556.3			A+		553.7			A+
	Transamerica Life Insurance Co.		497.7			A+		531.1			A+
	RGA Reinsurance Company		412.4			A+		419.1			A+
	SCOR Global Life USA Reinsurance Company		411.8			A		402.7			A
	American United Life Insurance Company		336.1			A+		342.2			A+
	Scottish Re (U.S.), Inc.		298.0			NR		305.1			NR
	Centre Reinsurance (Bermuda) Ltd		260.9			NR		281.6			NR
	Employers Reassurance Corporation		254.3			A-		289.2			A-
	The Company’s reinsurance contracts typically do not have a fixed term. In general, the reinsurers’ ability to terminate coverage for existing cessions is limited to such circumstances as material breach of contract or non-payment of premiums by the ceding company. The reinsurance contracts generally contain provisions intended to provide the ceding company with the ability to cede future business on a basis consistent with historical terms. However, either party may terminate any of the contracts with respect to future business upon appropriate notice to the other party.
	Generally, the reinsurance contracts do not limit the overall amount of the loss that can be incurred by the reinsurer. The amount of liabilities ceded under contracts that provide for the payment of experience refunds is immaterial.

DEBT_AND_OTHER_OBLIGATIONS

DEBT AND OTHER OBLIGATIONS	12 Months Ended
	Dec. 31, 2014
DEBT AND OTHER OBLIGATIONS
DEBT AND OTHER OBLIGATIONS
	12.DEBT AND OTHER OBLIGATIONS
	Under a revolving line of credit arrangement that was in effect until February 2, 2015 (the “Credit Facility”), the Company and PLC had the ability to borrow on an unsecured basis up to an aggregate principal amount of $750 million. The Company had the right in certain circumstances to request that the commitment under the Credit Facility be increased up to a maximum principal amount of $1.0 billion. Balances outstanding under the Credit Facility accrued interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of PLC’s senior unsecured long-term debt (“Senior Debt”), or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent’s prime rate, (y) 0.50% above the Federal Funds rate, or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of PLC’s Senior Debt. The Credit Facility also provided for a facility fee at a rate, 0.175%, that could vary with the ratings of PLC’s Senior Debt and that was calculated on the aggregate amount of commitments under the Credit Facility, whether used or unused. The Credit Facility provided that PLC was liable for the full amount of any obligations for borrowings or letters of credit, including those of the Company, under the Credit Facility. The maturity date of the Credit Facility was July 17, 2017. The Company is not aware of any non-compliance with the financial debt covenants of the Credit Facility as of December 31, 2014. The Company did not have an outstanding balance under the Credit Facility as of December 31, 2014. PLC had an outstanding balance of $450.0 million bearing interest at a rate of LIBOR plus 1.20% under the Credit Facility as of December 31, 2014. As of December 31, 2014, the Company had used $55.0 million of borrowing capacity by executing a Letter of Credit under the Credit Facility for the benefit of an affiliated captive reinsurance subsidiary of the Company. This Letter of Credit had not been drawn upon as of December 31, 2014.
	On February 2, 2015, the Company and PLC amended and restated the Credit Facility (the “2015 Credit Facility”). Under the 2015 Credit Facility, the Company has the ability to borrow on an unsecured basis up to an aggregate principal amount of $1.0 billion. The Company has the right in certain circumstances to request that the commitment under the 2015 Credit Facility be increased up to a maximum principal amount of $1.25 billion. Balances outstanding under the 2015 Credit Facility accrue interest at a rate equal to, at the option of the Borrowers, (i) LIBOR plus a spread based on the ratings of PLC’s Senior Debt, or (ii) the sum of (A) a rate equal to the highest of (x) the Administrative Agent’s prime rate, (y) 0.50% above the Federal Funds rate, or (z) the one-month LIBOR plus 1.00% and (B) a spread based on the ratings of PLC’s Senior Debt. The 2015 Credit Facility also provided for a facility fee at a rate that varies with the ratings of PLC’s Senior Debt and that is calculated on the aggregate amount of commitments under the 2015 Credit Facility, whether used or unused. The facility fee rate was 0.15% on February 2, 2015, and was adjusted to 0.125% upon our subsequent ratings upgrade on February 2, 2015. The 2015 Credit Facility provides that PLC is liable for the full amount of any obligations for borrowings or letters of credit, including those of the Company, under the 2015 Credit Facility. The maturity date of the 2015 Credit Facility is February 2, 2020. The Company is not aware of any non-compliance with the financial debt covenants of the Credit Facility or the 2015 Credit Facility as of February 2, 2015. PLC had an outstanding balance of $390.0 million bearing interest at a rate of LIBOR plus 1.20% when the Credit Facility was amended and restated by the 2015 Credit Facility on February 2, 2015. The $55.0 million Letter of Credit, which the Company executed under the Credit Facility for the benefit of an affiliated captive reinsurance subsidiary of the Company, remained undrawn as of February 2, 2015.
	Non-Recourse Funding Obligations
	Golden Gate Captive Insurance Company
	Golden Gate Captive Insurance Company (“Golden Gate”), a South Carolina special purpose financial captive insurance company and wholly owned subsidiary, had three series of non-recourse funding obligations with a total outstanding balance of $800 million as of December 31, 2014. PLC holds the entire outstanding balance of non-recourse funding obligations. The Series A1 non-recourse funding obligations have a balance of $400 million and accrue interest at a fixed rate of 7.375%, the Series A2 non-recourse funding obligations have a balance of $100 million and accrue interest at a fixed rate of 8%, and the Series A3 non-recourse funding obligations have a balance of $300 million and accrue interest at a fixed rate of 8.45%.
	Golden Gate II Captive Insurance Company
	Golden Gate II Captive Insurance Company (“Golden Gate II”), a South Carolina special purpose financial captive insurance company and wholly owned subsidiary, had $575 million of non-recourse funding obligations outstanding as of December 31, 2014. These outstanding non-recourse funding obligations were issued to special purpose trusts, which in turn issued securities to third parties. Certain of our affiliates own a portion of these securities. As of December 31, 2014, securities related to $144.9 million of the outstanding balance of the non-recourse funding obligations were held by external parties, securities related to $145.3 million of the non-recourse funding obligations were held by nonconsolidated affiliates, and $284.8 million were held by consolidated subsidiaries of the Company. PLC has entered into certain support agreements with Golden Gate II obligating it to make capital contributions or provide support related to certain of Golden Gate II’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate II. These support agreements provide that amounts would become payable by PLC to Golden Gate II if its annual general corporate expenses were higher than modeled amounts or if Golden Gate II’s investment income on certain investments or premium income was below certain actuarially determined amounts. As of December 31, 2014, no payments have been made under these agreements and no amounts are collateralized by PLC under these agreements. Re-evaluation and, if necessary, adjustments of any support agreement collateralization amounts occurs annually during the first quarter pursuant to the terms on the support agreement. There are no support agreements between the Company and Golden Gate II.
	Golden Gate V Vermont Captive Insurance Company
	On October 10, 2012, Golden Gate V Vermont Captive Insurance Company (“Golden Gate V”), a Vermont special purpose financial insurance company and Red Mountain, LLC (“Red Mountain”), both wholly owned subsidiaries, entered into a 20-year transaction to finance up to $945 million of “AXXX” reserves related to a block of universal life insurance policies with secondary guarantees issued by the Company and its subsidiary, West Coast Life Insurance Company (“WCL”). Golden Gate V issued non-recourse funding obligations to Red Mountain, and Red Mountain issued a note with an initial principal amount of $275 million, increasing to a maximum of $945 million in 2027, to Golden Gate V for deposit to a reinsurance trust supporting Golden Gate V’s obligations under a reinsurance agreement with WCL, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. Through the structure, Hannover Life Reassurance Company of America (“Hannover Re”), the ultimate risk taker in the transaction, provides credit enhancement to the Red Mountain note for the 20-year term in exchange for a fee. The transaction is “non-recourse” to Golden Gate V, Red Mountain, WCL, PLC, and the Company, meaning that none of these companies are liable for the reimbursement of any credit enhancement payments required to be made. As of December 31, 2014, the principal balance of the Red Mountain note was $435 million. In connection with the transaction, PLC has entered into certain support agreements under which PLC guarantees or otherwise supports certain obligations of Golden Gate V or Red Mountain. Future scheduled capital contributions to prefund credit enhancement fees amount to approximately $139.6 million and will be paid in annual installments through 2031. The support agreements provide that amounts would become payable by PLC if Golden Gate V’s annual general corporate expenses were higher than modeled amounts or in the event write-downs due to other-than-temporary impairments on assets held in certain accounts exceed defined threshold levels. Additionally, PLC has entered into separate agreements to indemnify Golden Gate V with respect to material adverse changes in non-guaranteed elements of insurance policies reinsured by Golden Gate V, and to guarantee payment of certain fee amounts in connection with the credit enhancement of the Red Mountain note. As of December 31, 2014, no payments have been made under these agreements.
	In connection with the transaction outlined above, Golden Gate V had a $435 million outstanding non-recourse funding obligation as of December 31, 2014. This non-recourse funding obligation matures in 2037, has scheduled increases in principal to a maximum of $945 million, and accrues interest at a fixed annual rate of 6.25%.
	Non-recourse funding obligations outstanding as of December 31, 2014, on a consolidated basis, are shown in the following table:
					Year-to-Date
				Maturity	Weighted-
					Avg
	Issuer	Balance		Year	Interest Rate
		(Dollars In Thousands)
	Golden Gate Captive Insurance Company(1)	$	800,000	2037	7.86	%
	Golden Gate II Captive Insurance Company	290,248		2052	1.13	%
	Golden Gate V Vermont Captive Insurance Company(1)	435,000		2037	6.25	%
	MONY Life Insurance Company(1)	2,504		2024	6.63	%
	Total	$	1,527,752
	(1) Fixed rate obligations
	During 2014, consolidated subsidiaries of the Company repurchased $37.7 million of its outstanding non-recourse funding obligations, at a discount. These repurchases resulted in a $7.4 million pre-tax gain for the Company. For the year ended December 31, 2013, consolidated subsidiaries of the Company repurchased $68.5 million of its outstanding non-recourse funding obligations, at a discount. These repurchases resulted in a $15.4 million pre-tax gain for the Company. These gains are recorded in other income in the consolidated statements of income.
	Letters of Credit
	Golden Gate III Vermont Captive Insurance Company (“Golden Gate III”), a Vermont special purpose financial insurance company and wholly owned subsidiary, is party to a Reimbursement Agreement (the “Reimbursement Agreement”) with UBS AG, Stamford Branch (“UBS”), as issuing lender. Under the original Reimbursement Agreement, dated April 23, 2010, UBS issued a letter of credit (the “LOC”) in the initial amount of $505 million to a trust for the benefit of WCL. The Reimbursement Agreement was subsequently amended and restated effective November 21, 2011 (the “First Amended and Restated Reimbursement Agreement”), to replace the existing LOC with one or more letters of credit from UBS, and to extend the maturity date from April 1, 2018, to April 1, 2022. On August 7, 2013, Golden Gate III entered into a Second Amended and Restated Reimbursement Agreement with UBS (the “Second Amended and Restated Reimbursement Agreement”), which amended and restated the First Amended and Restated Reimbursement Agreement. Under the Second and Amended and Restated Reimbursement Agreement a new LOC in an initial amount of $710 million was issued by UBS in replacement of the existing LOC issued under the First Amended and Restated Reimbursement Agreement. The term of the LOC was extended from April 1, 2022 to October 1, 2023, subject to certain conditions being satisfied including scheduled capital contributions being made to Golden Gate III by one of its affiliates. The maximum stated amount of the LOC was increased from $610 million to $720 million in 2015 if certain conditions are met. On June 25, 2014, PLC entered into a Third Amended and Restated Reimbursement Agreement with UBS (the “Third Amended and Restated Reimbursement Agreement”), which amended and restated the Second Amended and Restated Reimbursement Agreement. Under the Third Amended and Restated Reimbursement Agreement, a new LOC in an initial amount of $915 million was issued by UBS in replacement of the existing LOC issued under the Second Amended and Restated Reimbursement Agreement. The term of the LOC was extended from October 1, 2023 to April 1, 2025, subject to certain conditions being satisfied including scheduled capital contributions being made to Golden Gate III by one of its affiliates. The maximum stated amount of the LOC was increased from $720 million to $935 million in 2015 if certain conditions are met. The LOC is held in trust for the benefit of WCL, and supports certain obligations of Golden Gate III to WCL under an indemnity reinsurance agreement originally effective April 1, 2010, as amended and restated on November 21, 2011, and as further amended and restated on August 7, 2013 and on June 25, 2014 to include additional blocks of policies, and pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. The LOC balance was $930 million as of December 31, 2014. Subject to certain conditions, the amount of the LOC will be periodically increased up to a maximum of $935 million in 2015. The term of the LOC is expected to be approximately 15 years from the original issuance date. This transaction is “non-recourse” to WCL, PLC, and the Company, meaning that none of these companies other than Golden Gate III are liable for reimbursement on a draw of the LOC. PLC has entered into certain support agreements with Golden Gate III obligating PLC to make capital contributions or provide support related to certain of Golden Gate III’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate III. Future scheduled capital contributions amount to approximately $122.5 million and will be paid in three installments with the last payment occurring in 2021, and these contributions may be subject to potential offset against dividend payments as permitted under the terms of the Third Amended and Restated Reimbursement Agreement. The support agreements provide that amounts would become payable by PLC to Golden Gate III if its annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate III. Pursuant to the terms of an amended and restated letter agreement with UBS, PLC has continued to guarantee the payment of fees to UBS as specified in the Third Amended and Restated Reimbursement Agreement. As of December 31, 2014, no payments have been made under these agreements.
	Golden Gate IV Vermont Captive Insurance Company (“Golden Gate IV”), a Vermont special purpose financial insurance company and wholly owned subsidiary, is party to a Reimbursement Agreement with UBS AG, Stamford Branch, as issuing lender. Under the Reimbursement Agreement, dated December 10, 2010, UBS issued an LOC in the initial amount of $270 million to a trust for the benefit of WCL. The LOC balance increased, in accordance with the terms of the Reimbursement Agreement, during each quarter of 2014 and was $750 million as of December 31, 2014. Subject to certain conditions, the amount of the LOC will be periodically increased up to a maximum of $790 million in 2016. The term of the LOC is expected to be 12 years from the original issuance date (stated maturity of December 30, 2022). The LOC was issued to support certain obligations of Golden Gate IV to WCL under an indemnity reinsurance agreement, pursuant to which WCL cedes liabilities relating to the policies of WCL and retrocedes liabilities relating to the policies of the Company. This transaction is “non-recourse” to WCL, PLC, and the Company, meaning that none of these companies other than Golden Gate IV are liable for reimbursement on a draw of the LOC. PLC has entered into certain support agreements with Golden Gate IV obligating PLC to make capital contributions or provide support related to certain of Golden Gate IV’s expenses and in certain circumstances, to collateralize certain of PLC’s obligations to Golden Gate IV. The support agreements provide that amounts would become payable by PLC to Golden Gate IV if Golden Gate IV’s annual general corporate expenses were higher than modeled amounts or if specified catastrophic losses occur during defined time periods with respect to the policies reinsured by Golden Gate IV. PLC has also entered into a separate agreement to guarantee the payments of LOC fees under the terms of the Reimbursement Agreement. As of December 31, 2014, no payments have been made under these agreements.
	Repurchase Program Borrowings
	While the Company anticipates that the cash flows of its operations and its operating subsidiaries will be sufficient to meet its investment commitments and operating cash needs in a normal credit market environment, the Company recognizes that investment commitments scheduled to be funded may, from time to time, exceed the funds then available. Therefore, the Company has established repurchase agreement programs for certain of its insurance subsidiaries to provide liquidity when needed. The Company expects that the rate received on its investments will equal or exceed its borrowing rate. Under this program, the Company may, from time to time, sell an investment security at a specific price and agree to repurchase that security at another specified price at a later date. These borrowings are for a term less than 90 days. The market value of securities to be repurchased is monitored and collateral levels are adjusted where appropriate to protect the counterparty against credit exposure. Cash received is invested in fixed maturity securities, and the agreements provided for net settlement in the event of default or on termination of the agreements. As of December 31, 2014, the fair value of securities pledged under the repurchase program was $55.1 million and the repurchase obligation of $50.0 million was included in the Company’s consolidated balance sheets (at an average borrowing rate of 16 basis points). During the year ended December 31, 2014, the maximum balance outstanding at any one point in time related to these programs was $633.7 million. The average daily balance was $470.4 million (at an average borrowing rate of 11 basis points) during the year ended December 31, 2014. As of December 31, 2013, the Company had a $350.0 million outstanding balance related to such borrowings. During 2013, the maximum balance outstanding at any one point in time related to these programs was $815.0 million. The average daily balance was $496.9 million (at an average borrowing rate of 11 basis points) during the year ended December 31, 2013.
	Other Obligations
	The Company routinely receives from or pays to affiliates under the control of PLC reimbursements for expenses incurred on one another’s behalf. Receivables and payables among affiliates are generally settled monthly.
	Interest Expense
	Interest expense on non-recourse funding obligations, letters of credit, and other temporary borrowings was $118.6 million, $111.4 million, and $92.9 million in 2014, 2013, and 2012, respectively. The $7.2 million unfavorable variance was primarily due to increased interest expense on the Golden Gate V non-recourse funding obligation of $4.2 million and $3.0 million increased interest expense primarily on Golden Gate III and Golden Gate IV letters of credit.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
	13.COMMITMENTS AND CONTINGENCIES
	The Company leases administrative and marketing office space in approximately 19 cities including 24,090 square feet in Birmingham (excluding the home office building), with most leases being for periods of three to ten years. The Company had rental expense of $10.8 million, $11.2 million, and $11.2 million for the years ended December 31, 2014, 2013, and 2012, respectively. The aggregate annualized rent was approximately $6.5  million for the year ended December 31, 2014. The following is a schedule by year of future minimum rental payments required under these leases:
	Year	Amount
		(Dollars In Thousands)
	2015	$	5,911
	2016	4,942
	2017	2,750
	2018	2,111
	2019	1,879
	Thereafter	7,488
	Additionally, the Company leases a building contiguous to its home office. The lease was renewed in December 2013 and was extended to December 2018. At the end of the lease term the Company may purchase the building for approximately $75 million. Monthly rental payments are based on the current LIBOR rate plus a spread. The following is a schedule by year of future minimum rental payments required under this lease:
	Year	Amount
		(Dollars In Thousands)
	2015	$	1,233
	2016	1,236
	2017	1,233
	2018	76,208
	As of December 31, 2014 and 2013, the Company had outstanding mortgage loan commitments of $537.7 million at an average rate of 4.61% and $322.8 million at an average rate of 4.93%, respectively.
	Under insurance guaranty fund laws, in most states insurance companies doing business therein can be assessed up to prescribed limits for policyholder losses incurred by insolvent companies. In addition, from time to time, companies may be asked to contribute amounts beyond prescribed limits. Most insurance guaranty fund laws provide that an assessment may be excused or deferred if it would threaten an insurer’s own financial strength. The Company does not believe its insurance guaranty fund assessments will be materially different from amounts already provided for in the financial statements.
	A number of civil jury verdicts have been returned against insurers, broker dealers and other providers of financial services involving sales, refund or claims practices, alleged agent misconduct, failure to properly supervise representatives, relationships with agents or persons with whom the insurer does business, and other matters. Often these lawsuits have resulted in the award of substantial judgments that are disproportionate to the actual damages, including material amounts of punitive and non-economic compensatory damages. In some states, juries, judges, and arbitrators have substantial discretion in awarding punitive non-economic compensatory damages which creates the potential for unpredictable material adverse judgments or awards in any given lawsuit or arbitration. Arbitration awards are subject to very limited appellate review. In addition, in some class action and other lawsuits, companies have made material settlement payments. Publicly held companies in general and the financial services and insurance industries in particular are also sometimes the target of law enforcement and regulatory investigations relating to the numerous laws and regulations that govern such companies. Some companies have been the subject of law enforcement or regulatory actions or other actions resulting from such investigations. The Company, in the ordinary course of business, is involved in such matters.
	The Company establishes liabilities for litigation and regulatory actions when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. For matters where a loss is believed to be reasonably possible, but not probable, no liability is established. For such matters, the Company may provide an estimate of the possible loss or range of loss or a statement that such an estimate cannot be made. The Company reviews relevant information with respect to litigation and regulatory matters on a quarterly and annual basis and updates its established liabilities, disclosures and estimates of reasonably possible losses or range of loss based on such reviews.
	Although the Company cannot predict the outcome of any litigation or regulatory action, the Company does not believe that any such outcome will have an impact, either individually or in the aggregate, on its financial condition or results of operations that differs materially from the Company’s established liabilities. Given the inherent difficulty in predicting the outcome of such matters, however, it is possible that an adverse outcome in certain such matters could be material to the Company’s financial condition or results of operations for any particular reporting period.
	The Company was audited by the IRS and the IRS proposed favorable and unfavorable adjustments to the Company’s 2003 through 2007 reported taxable income. The Company protested certain unfavorable adjustments and sought resolution at the IRS’ Appeals Division. The case has followed normal procedure and is now under review at Congress’ Joint Committee on Taxation. The Company believes the matter will conclude within the next twelve months. If the IRS prevails on every issue that it identified in this audit, and the Company does not litigate these issues, then the Company will make an income tax payment of approximately $136,000. However, this payment, if it were to occur, would not materially impact the Company or its effective tax rate.
	Through the acquisition of MONY by the Company certain income tax credit carryforwards, which arose in MONY’s pre-acquisition tax years, transferred to the Company. This transfer was in accordance with the applicable rules of the Internal Revenue Code and the related Regulations. In spite of this transfer, AXA, the former parent of the consolidated income tax return group in which MONY was a member, retains the right to utilize these credits in the future to offset future increases in its 2010 through 2013 tax liabilities. The Company had determined that, based on all information known as of the acquisition date and through the March 31, 2014 reporting date, it was probable that a loss of the utilization of these carryforwards had been incurred. Due to indemnification received from AXA during the quarter ending June 30, 2014, the probability of loss of these carryforwards has been eliminated. Accordingly, in the table summarizing the fair value of net assets acquired from the Acquisition, the amount of the deferred tax asset from the credit carryforwards is no longer offset by a liability.
	Certain of the Company’s insurance subsidiaries, as well as certain other insurance companies for which the Company has coinsured blocks of life insurance and annuity policies, are under audit for compliance with the unclaimed property laws of a number of states. The audits are being conducted on behalf of the treasury departments or unclaimed property administrators in such states. The focus of the audits is on whether there have been unreported deaths, maturities, or policies that have exceeded limiting age with respect to which death benefits or other payments under life insurance or annuity policies should be treated as unclaimed property that should be escheated to the state. The Company is presently unable to estimate the reasonably possible loss or range of loss that may result from the audits due to a number of factors, including uncertainty as to the legal theory or theories that may give rise to liability, the early stages of the audits being conducted, and, with respect to one block of life insurance policies that is co-insured by a subsidiary of the Company, uncertainty as to whether the Company or other companies are responsible for the liabilities, if any, arising in connection with such policies. The Company will continue to monitor the matter for any developments that would make the loss contingency associated with the audits probable or reasonably estimable.
	Certain of the Company’s subsidiaries are under a targeted multi-state examination with respect to their claims paying practices and their use of the U.S. Social Security Administration’s Death Master File or similar databases (a “Death Database”) to identify unreported deaths in their life insurance policies, annuity contracts and retained asset accounts. There is no clear basis in previously existing law for requiring a life insurer to search for unreported deaths in order to determine whether a benefit is owed, and substantial legal authority exists to support the position that the prevailing industry practice was lawful. A number of life insurers, however, have entered into settlement or consent agreements with state insurance regulators under which the life insurers agreed to implement procedures for periodically comparing their life insurance and annuity contracts and retained asset accounts against a Death Database, treating confirmed deaths as giving rise to a death benefit under their policies, locating beneficiaries and paying them the benefits and interest, and escheating the benefits and interest as well as penalties to the state if the beneficiary could not be found. It has been publicly reported that the life insurers have paid administrative and/or examination fees to the insurance regulators in connection with the settlement or consent agreements. The Company believes it is reasonably possible that insurance regulators could demand from the Company administrative and/or examination fees relating to the targeted multi-state examination. Based on publicly reported payments by other life insurers, the Company estimates the range of such fees to be from $0 to $3.5 million.

SHAREOWNERS_EQUITY

SHAREOWNER'S EQUITY	12 Months Ended
	Dec. 31, 2014
SHAREOWNER'S EQUITY
SHAREOWNER'S EQUITY
	14.SHAREOWNER’S EQUITY
	PLC owns all of the 2,000 shares of non-voting preferred stock issued by the Company’s subsidiary, Protective Life and Annuity Insurance Company (“PL&A”). The stock pays, when and if declared, noncumulative participating dividends to the extent PL&A’s statutory earnings for the immediately preceding fiscal year exceeded $1.0 million. In 2014, 2013, and 2012, PL&A paid no dividends to PLC on its preferred stock.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2014
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION
	15.STOCK-BASED COMPENSATION
	Since 1973, PLC has had stock-based incentive plans to motivate management to focus on its long-range performance through the awarding of stock-based compensation. Under plans approved by shareowners in 1997, 2003, 2008, and 2012, up to 9.5 million shares may be issued in payment of awards. Due to an existing change in control provision, the awards outstanding immediately prior to the Merger will be cancelled and converted into the right to receive an amount in cash. For more information refer to Note 5, Dai-ichi Merger.
	Performance Shares
	The criteria for payment of the 2014 performance awards is based on PLC’s average operating return on average equity (“ROE”) over a three- year period. If PLC’s ROE is below 10.5%, no award is earned. If PLC’s ROE is at or above 12.0%, the award maximum is earned.
	The criteria for payment of the 2013 performance awards is based on PLC’s average operating ROE over a three-year period. If PLC’s ROE is below 10.0%, no award is earned. If PLC’s ROE is at or above 11.5%, the award maximum is earned.
	Performance shares are equivalent in value to one share of PLC’s common stock times the award earned percentage payout. Performance share awards of 203,295 were issued during the year ended December 31, 2014 and 298,500 performance share awards were issued during the year ended December 31, 2013.
	Performance share awards and the estimated fair value of the awards at grant date are as follows:
	Year		Performance		Estimated
	Awarded		Shares		Fair Value
					(Dollars In Thousands)
	2014		203,295		$	10,484
	2013		298,500		9,328
	2012		306,100		8,608
	2011		191,100		5,433
	Stock Appreciation Rights
	Stock appreciation rights (“SARs”) of PLC have been granted to certain officers to provide long-term incentive compensation based solely on the performance of PLC’s common stock. The SARs are exercisable either five years after the date of grant or in three or four equal annual installments beginning one year after the date of grant (earlier upon the death, disability, or retirement of the officer, or in certain circumstances, of a change in control of PLC) and expire after ten years or upon termination of employment. The SARs activity as well as weighted-average base price is as follows:
			Weighted-Average
			Base Price per share			No. of SARs
	Balance at December 31, 2011		$	22.27		2,274,229
	SARs exercised / forfeited		22.6			(633,062	)
	Balance at December 31, 2012		$	22.15		1,641,167
	SARs exercised / forfeited		18.54			(336,066	)
	Balance at December 31, 2013		$	23.08		1,305,101
	SARs exercised / forfeited / expired		22.07			(1,147,473	)
	Balance at December 31, 2014		$	30.41		157,628
	The outstanding SARs as of December 31, 2014, were at the following base prices:
				SARs		Remaining Life		Currently
	Base Price			Outstanding		in Years		Exercisable
	$	41.05		10,000		1		10,000
	$	43.46		22,300		3		22,300
	$	38.59		52,000		4		52,000
	$	3.50		46,110		5		46,110
	$	18.36		27,218		6		27,218
	There were no SARs issued for the years ended December 31, 2014, 2013, and 2012. These fair values were estimated using a Black-Scholes option pricing model. The assumptions used in this pricing model varied depending on the vesting period of awards. Assumptions used in the model for the 2010 SARs granted (the simplified method under the ASC Compensation-Stock Compensation Topic was used for the 2010 awards) were as follows: an expected volatility of 69.4%, a risk-free interest rate of 2.6%, a dividend rate of 2.4%, a zero percent forfeiture rate, and expected exercise date of 2016.
	Restricted Stock Units
	Restricted stock units are awarded to participants and include certain restrictions relating to vesting periods. PLC issued 98,700 restricted stock units for the year ended December 31, 2014 and 166,850 restricted stock units for the year ended December 31, 2013. These awards had a total fair value at grant date of $5.1 million and $5.5 million, respectively. Approximately half of these restricted stock units vest after three years from grant date and the remainder vest after four years.
	PLC recognizes all stock-based compensation expense over the related service period of the award, or earlier for retirement eligible employees. The expense recorded by PLC for its stock-based compensation plans was $25.9 million, $15.7 million, and $10.3 million in 2014, 2013, and 2012, respectively. The Company recognized expense associated with PLC’s stock-based compensation plans for compensations awarded to its employees of $6.5 million, $4.5 million, and $3.9 million in 2014, 2013, and 2012, respectively. PLC’s obligations of its stock-based compensation plans that are expected to be settled in shares of PLC’s common stock are reported as a component of shareowners’ equity, net of deferred taxes. As of December 31, 2014, the total compensation cost related to non-vested stock-based compensation not yet recognized was $27.0 million. Due to the Merger, the unrecognized stock compensation expense will be accelerated as of the date of the merger due to an existing change in control provision.
	The following table provides information as of December 31, 2014, about equity compensation plans under which PLC’s common stock is authorized for issuance:
	Securities Authorized for Issuance under Equity Compensation Plans
								Number of securities
								remaining available
								for future issuance
			Number of securities					under equity
			to be issued upon		Weighted-average			compensation plans
			exercise of		exercise price of			(excluding securities
			outstanding options,		outstanding options,			reflected in
			warrants and rights as		warrants and rights as			column (a)) as of
	Plan category		of December 31, 2014 (a)		of December 31, 2014 (b)			of December 31, 2014 (c)
	Equity compensation plans approved by shareowners		1,960,959	-1	$	22.07	-3	4,092,546	-4
	Equity compensation plans not approved by shareowners		193,720	-2	Not applicable			Not applicable	-5
	Total		2,154,679		$	22.07		4,092,546
		-1		Includes the following number of shares: (a) 102,458 shares issuable with respect to outstanding SARs (assuming for this purpose that one share of common stock will be payable with respect to each outstanding SAR); (b) 907,487 shares issuable with respect to outstanding performance share awards (assuming for this purpose that the awards are payable based on estimated performance under the awards as of September 30, 2014); (c) 313,199 shares issuable with respect to outstanding restricted stock units (assuming for this purpose that shares will be payable with respect to all outstanding restricted stock units); (d) 475,386 shares issuable with respect to stock equivalents representing previously earned awards under the LTIP that the recipient deferred under PLC’s Deferred Compensation Plan for Officers; and (e) 162,429 shares issuable with respect to stock equivalents representing previous awards under PLC’s Stock Plan for Non-Employee Directors that the recipient deferred under PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of PLC.
		-2		Includes the following number of shares of common stock: (a) 152,709 shares issuable with respect to stock equivalents representing (i) stock awards to PLC’s Directors before June 1, 2004 that the recipient deferred pursuant to PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of PLC and (ii) cash retainers and fees that PLC’s Directors deferred under PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of PLC, and (b) 41,011 shares issuable with respect to stock equivalents pursuant to PLCs Deferred Compensation Plan for Officers.
		-3		Based on exercise prices of outstanding SARs.
		-4		Represents shares of common stock available for future issuance under the LTIP and PLC’s Stock Plan for Non-Employee Directors.
		-5		The plans listed in Note (2) do not currently have limits on the number of shares of common stock issuable under such plans. The total number of shares of common stock that may be issuable under such plans will depend upon, among other factors, the deferral elections made by the plans’ participants.

EMPLOYEE_BENEFIT_PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2014
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS
	16.EMPLOYEE BENEFIT PLANS
	Defined Benefit Pension Plan and Unfunded Excess Benefit Plan
	PLC sponsors a defined benefit pension plan covering substantially all of its employees, including those of the Company. Benefits are based on years of service and the employee’s compensation.
	Effective January 1, 2008, PLC made the following changes to its defined benefit pension plan. These changes have been reflected in the computations within this note.
		·		Employees hired after December 31, 2007, will receive benefits under a cash balance plan.
		·		Employees active on December 31, 2007, with age plus vesting service less than 55 years will receive a final pay-based pension benefit for service through December 31, 2007, plus a cash balance benefit for service after December 31, 2007.
		·		Employees active on December 31, 2007, with age plus vesting service equaling or exceeding 55 years, will receive a final pay-based pension benefit for service both before and after December 31, 2007, with a modest reduction in the formula for benefits earned after December 31, 2007.
		·		All participants terminating employment on or after December of 2007 may elect to receive a lump sum benefit.
	PLC’s funding policy is to contribute amounts to the plan sufficient to meet the minimum funding requirements of the Employee Retirement Income Security Act (“ERISA”) plus such additional amounts as PLC may determine to be appropriate from time to time. Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future.
	Under the Pension Protection Act of 2006 (“PPA”), a plan could be subject to certain benefit restrictions if the plan’s adjusted funding target attainment percentage (“AFTAP”) drops below 80%. Therefore, PLC may make additional contributions in future periods to maintain an AFTAP of at least 80%. In general, the AFTAP is a measure of how well the plan is funded and is obtained by dividing the plan’s assets by the plan’s funding liabilities. AFTAP is based on participant data, plan provisions, plan methods and assumptions, funding credit balances, and plan assets as of the plan valuation date. Some of the assumptions and methods used to determine the plan’s AFTAP may be different from the assumptions and methods used to measure the plan’s funded status on a GAAP basis.
	In July of 2012, the Moving Ahead for Progress in the 21st Century Act (“MAP-21”), which includes pension funding stabilization provisions, was signed into law. These provisions establish an interest rate corridor which is designed to stabilize the segment rates used to determine funding requirements from the effects of interest rate volatility. In August of 2014, the Highway and Transportation Funding Act of 2014 (“HATFA”) was signed into law. HAFTA extends the funding relief provided by MAP-21 by delaying the interest rate corridor expansion. The funding stabilization provisions of MAP-21 and HATFA reduced PLC’s minimum required defined benefit plan contributions for the 2013 and 2014 plan years. PLC is evaluating the impact these changes will have on funding requirements in future years. Since the funding stabilization provisions of MAP-21 and HATFA do not apply for Pension Benefit Guaranty Corporation (“PBGC”) reporting purposes, PLC may also make additional contributions in future periods to avoid certain PBGC reporting triggers.
	During the twelve months ended December 31, 2014, PLC contributed $9.0 million to its defined benefit pension plan for the 2013 plan year and $6.5 million to its defined benefit pension plan for the 2014 plan year. In addition, during January of 2015, PLC made a $2.2 million contribution to the defined benefit pension plan for the 2014 plan year. PLC has not yet determined what amount it will fund for the remainder of 2015, but estimates that the amount will be between $1 million and $10 million.
	PLC also sponsors an unfunded excess benefit plan, which is a nonqualified plan that provides defined pension benefits in excess of limits imposed on qualified plans by federal tax law.
	PLC uses a December 31 measurement date for all of its plans. The following table presents the benefit obligation, fair value of plan assets, and the funded status of PLC’s defined benefit pension plan and unfunded excess benefit plan as of December 31. This table also includes the amounts not yet recognized as components of net periodic pension costs as of December 31:
			Defined Benefit						Unfunded Excess
			Pension Plan						Benefit Plan
			2014			2013			2014			2013
			(Dollars In Thousands)
	Accumulated benefit obligation, end of year		$	249,453		$	207,999		$	47,368		$	36,306
	Change in projected benefit obligation:
	Projected benefit obligation at beginning of year		$	219,152		$	223,319		$	39,679		$	42,971
	Service cost		9,411			9,345			954			1,037
	Interest cost		10,493			8,985			1,696			1,387
	Amendments		—			—			—			—
	Actuarial (gain) loss		38,110			(8,172		)	9,153			(1,505		)
	Benefits paid		(9,835		)	(14,325		)	(1,907		)	(4,211		)
	Projected benefit obligation at end of year		267,331			219,152			49,575			39,679
	Change in plan assets:
	Fair value of plan assets at beginning of year		180,173			152,187			—			—
	Actual return on plan assets		17,921			33,368			—			—
	Employer contributions(1)		15,513			8,943			1,907			4,211
	Benefits paid		(9,835		)	(14,325		)	(1,907		)	(4,211		)
	Fair value of plan assets at end of year		203,772			180,173			—			—
	After reflecting FASB guidance:
	Funded status		(63,559		)	(38,979		)	(49,575		)	(39,679		)
	Amounts recognized in the balance sheet:
	Other liabilities		(63,559		)	(38,979		)	(49,575		)	(39,679		)
	Amounts recognized in accumulated other comprehensive income:
	Net actuarial loss/(gain)		80,430			54,897			20,983			13,346
	Prior service cost/(credit)		(1,033		)	(1,425		)	24			36
	Total		$	79,397		$	53,472		$	21,007		$	13,382
		-1		Employer contributions disclosed are based on PLC’s fiscal filing year
	Weighted-average assumptions used to determine benefit obligations as of December 31 are as follows:
			Defined Benefit Pension				Unfunded Excess
			Plan				Benefit Plan
			2014		2013		2014		2013
	Discount rate		3.95	%	4.86	%	3.65	%	4.30	%
	Rate of compensation increase		4.75% prior to age 40		3.0		4.75% prior to age 40		4.0
			3.75% for age 40 and				3.75% for age 40 and
			above				above
	Expected long-term return on plan assets		7.5		7.5		N/A		N/A
	Weighted-average assumptions used to determine the net periodic benefit cost for the year ended December 31 are as follows:
			Defined Benefit Pension Plan						Unfunded Excess Benefit Plan
			2014		2013		2012		2014		2013		2012
	Discount rate		4.86	%	4.07	%	4.62	%	4.30	%	3.37	%	4.07	%
	Rates of compensation increase		3.0		3.0		2.5 - 3.0		4.0		4.0		3.5 - 4.0
	Expected long-term return on plan assets		7.5		7.5		7.75		N/A		N/A		N/A
	The assumed discount rates used to determine the benefit obligations were based on an analysis of future benefits expected to be paid under the plans. The assumed discount rate reflects the interest rate at which an amount that is invested in a portfolio of high-quality debt instruments on the measurement date would provide the future cash flows necessary to pay benefits when they come due.
	To determine an appropriate long-term rate of return assumption, PLC obtained 25 year annualized returns for each of the represented asset classes. In addition, PLC received evaluations of market performance based on PLC’s asset allocation as provided by external consultants. A combination of these statistical analytics provided results that PLC utilized to determine an appropriate long-term rate of return assumption.
	Components of the net periodic benefit cost for the year ended December 31 are as follows:
			Defined Benefit Pension Plan									Unfunded Excess Benefit Plan
			2014			2013			2012			2014			2013		2012
			(Dollars In Thousands)
Service cost — benefits earned during the period		$	9,411		$	9,345		$	9,145		$	954		$	1,037	$	867
Interest cost on projected benefit obligation		10,493			8,985			8,977			1,696			1,387		1,473
Expected return on plan assets		(12,166		)	(11,013		)	(10,916		)	—			—		—
Amortization of prior service cost/(credit)		(392		)	(392		)	(392		)	12			12		12
Amortization of actuarial losses(1)		6,821			9,631			7,749			1,516			1,792		1,300
Preliminary net periodic benefit cost		14,167			16,556			14,563			4,178			4,228		3,652
Settlement/curtailment expense(2)		—			—			—			—			928		—
Total net periodic benefit cost		$	14,167		$	16,556		$	14,563		$	4,178		$	5,156	$	3,652
	-1		2014 average remaining service period used is 8.10 years and 7.51 years for the defined benefit pension plan and unfunded excess benefit plan, respectively.
	-2		The unfunded excess pension plan triggered settlement accounting for the year ended December 31, 2013 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost.
The estimated net actuarial loss/(gain), prior service cost/(credit), and transition obligation/(asset) for these plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost during 2015 is as follows:
		Defined Benefit			Unfunded Excess
		Pension Plan			Benefit Plan
		(Dollars In Thousands)
Net actuarial loss/(gain)		$	7,603		$	1,901
Prior service cost/(credit)		(392		)	12
Transition obligation/(asset)		—			—
The amortization of any prior service cost is determined using a straight-line amortization of the cost over the average remaining service period of employees expected to receive benefits under the Plan.
Allocation of plan assets of the defined benefit pension plan by category as of December 31 are as follows:
		Target
		Allocation for
Asset Category		2015		2014		2013
Cash and cash equivalents		2	%	4	%	2	%
Equity securities		60		62		64
Fixed income		38		34		34
Total		100	%	100	%	100	%
PLC’s target asset allocation is designed to provide an acceptable level of risk and balance between equity assets and fixed income assets. The weighting towards equity securities is designed to help provide for an increased level of asset growth potential and liquidity.
Prior to July 1999, upon an employee’s retirement, a distribution from pension plan assets was used to purchase a single premium annuity from the Company in the retiree’s name. Therefore, amounts shown above as plan assets exclude assets relating to such retirees. Since July 1999, retiree obligations have been fulfilled from pension plan assets. The defined benefit pension plan has a target asset allocation of 60% domestic equities, 38% fixed income, and 2% cash. When calculating asset allocation, PLC includes reserves for pre- July 1999 retirees.
PLC’s investment policy includes various guidelines and procedures designed to ensure assets are invested in a manner necessary to meet expected future benefits earned by participants. The investment guidelines consider a broad range of economic conditions. Central to the policy are target allocation ranges (shown above) by major asset categories. The objectives of the target allocations are to maintain investment portfolios that diversify risk through prudent asset allocation parameters, achieve asset returns that meet or exceed the plans’ actuarial assumptions, and achieve asset returns that are competitive with like institutions employing similar investment strategies.
The plan’s equity assets are in a Russell 3000 index fund that invests in a domestic equity index collective trust managed by Northern Trust Corporation and in a Spartan 500 index fund managed by Fidelity. The plan’s cash is invested in a collective trust managed by Northern Trust Corporation. The plan’s fixed income assets are invested in a group deposit administration annuity contract with the Company.
Plan assets of the defined benefit pension plan by category as of December 31, are as follows:
		As of December 31,
Asset Category		2014			2013
		(Dollars In Thousands)
Cash and cash equivalents		$	7,968		$	3,052
Equity securities:
Collective Russell 3000 equity index fund		79,660			74,753
Fidelity Spartan 500 index fund		51,848			45,632
Fixed income		64,296			56,736
Total investments		203,772			180,173
Employer contribution receivable		2,165			2,314
Total		$	205,937		$	182,487
The valuation methodologies used to determine the fair values reflect market participant assumptions and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The following is a description of the valuation methodologies used for assets measured at fair value. The Plan’s group deposit administration annuity contract with the Company is recorded at contract value, which, by utilizing a long-term view, PLC believes approximates fair value. Contract value represents contributions made under the contract, plus interest at the contract rate, less funds used to purchase annuities. Units in collective short-term and collective investment funds are valued at the unit value, which approximates fair value, as reported by the trustee of the collective short-term and collective investment funds on each valuation date. These methods of valuation may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while PLC believes its valuation method is appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value could result in a different fair value measurement at the reporting date.
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014:
		Level 1			Level 2			Level 3			Total
		(Dollars In Thousands)
Collective short-term investment fund		$	7,968		$	—		$	—		$	7,968
Collective investment funds:
Equity index funds		51,848			79,660			—			131,508
Group deposit administration annuity contract		—			—			64,296			64,296
Total investments		$	59,816		$	79,660		$	64,296		$	203,772
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2013:
		Level 1			Level 2			Level 3			Total
		(Dollars In Thousands)
Collective short-term investment fund		$	3,052		$	—		$	—		$	3,052
Collective investment funds:
Equity index funds		45,632			74,753			—			120,385
Group deposit administration annuity contract		—			—			56,736			56,736
Total investments		$	48,684		$	74,753		$	56,736		$	180,173
For the year ended December 31, 2014, $4.5 million was transferred into Level 3 from Level 2. For the year ended December 31, 2013, $4.0 million was transferred into Level 3 from Level 2. These transfers were made to maintain an acceptable asset allocation as set by PLC’s investment policy.
For the year ended December 31, 2014 and 2013, there were no transfers between Level 1 and Level 2.
The following table summarizes the Plan investments measured at fair value based on NAV per share as of December 31, 2014 and 2013, respectively:
					Unfunded		Redemption		Redemption
Name		Fair Value			Commitments		Frequency		Notice Period
		(Dollars In Thousands)
As of December 31, 2014:
Collective short-term investment fund		$	7,968		Not Applicable		Daily		1 day
Collective Russell 3000 index fund(1)		79,660			Not Applicable		Daily		1 day
Fidelity Spartan 500 index fund		51,848			Not Applicable		Daily		1 day
As of December 31, 2013:
Collective short-term investment fund		$	3,052		Not Applicable		Daily		1 day
Collective Russell 3000 index fund(1)		74,753			Not Applicable		Daily		1 day
Fidelity Spartan 500 index fund		45,632			Not Applicable		Daily		1 day
	-1		Non-lending collective trust that does not publish a daily NAV but tracks the Russell 3000 index and provides a daily NAV to the Plan.
A reconciliation of the beginning and ending balances for the fair value measurements for which significant unobservable inputs (Level 3) have been used is as follows:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
Balance, beginning of year		$	56,736		$	50,032
Interest income		3,060			2,704
Transfers from collective short-term investments fund		4,500			4,000
Transfers to collective short-term investments fund		—			—
Balance, end of year		$	64,296		$	56,736
The following table represents the Plan’s Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input as of December 31, 2014:
					Principal		Significant		Range of
					Valuation		Unobservable		Significant Input
Instrument		Fair Value			Technique		Inputs		Values
		(Dollars In Thousands)
Group deposit administration annuity contract		$	64,296		Contract Value		Contract Rate		5.28% - 5.47%
Investment securities are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term could materially affect the amounts reported.
Estimated future benefit payments under the defined benefit pension plan are as follows:
		Defined Benefit			Unfunded Excess
Years		Pension Plan			Benefit Plan
		(Dollars In Thousands)
2015		$	15,055		$	4,016
2016		15,243			4,036
2017		16,957			5,610
2018		16,515			4,005
2019		19,014			4,303
2020-2024		97,137			17,800
Other Postretirement Benefits
In addition to pension benefits, PLC provides limited healthcare benefits to eligible retired employees until age 65. This postretirement benefit is provided by an unfunded plan. As of December 31, 2014 and 2013, the accumulated postretirement benefit obligation associated with these benefits was $0.2 million and $0.4 million, respectively.
The change in the benefit obligation for the retiree medical plan is as follows:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
Change in Benefit Obligation
Benefit obligation, beginning of year		$	447		$	788
Service cost		2			4
Interest cost		4			5
Actuarial (gain)/loss		30			29
Plan participant contributions		254			289
Benefits paid		(490		)	(668		)
Benefit obligation, end of year		$	247		$	447
For the retiree medical plan, PLC’s discount rate assumption used to determine benefit obligation and the net periodic benefit cost as of December 31, 2014, is 1.27% and 1.26%, respectively.
For a closed group of retirees over age 65, PLC provides a prescription drug benefit. As of December 31, 2014 and 2013, PLC’s liability related to this benefit was less than $0.1 million. PLC’s obligation is not materially affected by a 1% change in the healthcare cost trend assumptions used in the calculation of the obligation.
PLC also offers life insurance benefits for retirees from $10,000 up to a maximum of $75,000 which are provided through the payment of premiums under a group life insurance policy. This plan is partially funded at a maximum of $50,000 face amount of insurance. The accumulated postretirement benefit obligation associated with these benefits is as follows:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
Change in Benefit Obligation
Benefit obligation, beginning of year		$	8,653		$	10,070
Service cost		97			144
Interest cost		416			405
Actuarial (gain)/loss		694			(1,620		)
Benefits paid		(572		)	(346		)
Benefit obligation, end of year		$	9,288		$	8,653
For the postretirement life insurance plan, PLC’s discount rate assumption used to determine benefit obligation and the net periodic benefit cost as of December 31, 2014, is 4.21% and 5.05%, respectively.
PLC’s expected long-term rate of return assumption used to determine benefit obligation and the net periodic benefit cost as of December 31, 2014, is 3.14% and 3.13%, respectively. To determine an appropriate long-term rate of return assumption, PLC utilized 20 year average and annualized return results on the Barclay’s short treasury index.
Investments of PLC’s group life insurance plan are held by Wells Fargo Bank, N.A. Plan assets held by the Custodian are invested in a money market fund.
The fair value of each major category of plan assets for PLC’s postretirement life insurance plan is as follows:
		For The Year Ended December 31,
Category of Investment		2014			2013			2012
		(Dollars In Thousands)
Money market fund		$	5,925		$	6,156		$	6,174
Investments are stated at fair value and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The money market funds are valued based on historical cost, which represents fair value, at year end. This method of valuation may produce a fair value calculation that may not be reflective of future fair values. Furthermore, while PLC believes its valuation method is appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value could result in a different fair value measurement at the reporting date.
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014:
		Level 1			Level 2			Level 3			Total
		(Dollars In Thousands)
Money market fund		$	5,925		$	—		$	—		$	5,925
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2013:
		Level 1			Level 2			Level 3			Total
		(Dollars In Thousands)
Money market fund		$	6,156		$	—		$	—		$	6,156
For the year ended December 31, 2014 and 2013, there were no transfers between levels.
Investments are exposed to various risks, such as interest rate and credit risks. Due to the level of risk associated with investments and the level of uncertainty related to credit risks, it is at least reasonably possible that changes in risk in the near term could materially affect the amounts reported.
401(k) Plan
PLC sponsors a 401(k) Plan which covers substantially all employees. Employee contributions are made on a before-tax basis as provided by Section 401(k) of the Internal Revenue Code or as after-tax “Roth” contributions. Employees may contribute up to 25% of their eligible annual compensation to the 401(k) Plan, limited to a maximum annual amount as set periodically by the Internal Revenue Service ($17,500 for 2014). The Plan also provides a “catch-up” contribution provision which permits eligible participants (age 50 or over at the end of the calendar year), to make additional contributions that exceed the regular annual contribution limits up to a limit periodically set by the Internal Revenue Service ($5,500 for 2014). PLC matches the sum of all employee contributions dollar for dollar up to a maximum of 4% of an employee’s pay per year per person. All matching contributions vest immediately.
Prior to 2009, employee contributions to PLC’s 401(k) Plan were matched through use of an ESOP established by PLC. Beginning in 2009, PLC adopted a cash match for employee contributions to the 401(k) plan. For the year ended December 31, 2014 and 2013, PLC recorded an expense of $6.3 million and $6.0 million, respectively.
Effective as of January 1, 2005, PLC adopted a supplemental matching contribution program, which is a nonqualified plan that provides supplemental matching contributions in excess of the limits imposed on qualified defined contribution plans by federal tax law. The first allocations under this program were made in early 2006, with respect to the 2005 plan year. The expense recorded by PLC for this employee benefit was $0.4 million, $0.5 million, and $0.4 million, respectively, in 2014, 2013, and 2012.
Deferred Compensation Plan
PLC has established deferred compensation plans for directors, officers, and others. Compensation deferred is credited to the participants in cash, mutual funds, common stock equivalents, or a combination thereof. PLC may, from time to time, reissue treasury shares or buy in the open market shares of common stock to fulfill its obligation under the plans. As of December 31, 2014, the plans had 1,109,595 common stock equivalents credited to participants. PLC’s obligations related to its deferred compensation plans are reported in other liabilities, unless they are to be settled in shares of its common stock, in which case they are reported as a component of shareowners’ equity. On February 1, 2015, PLC became a wholly subsidiary of Dai-ichi Life and PLC’s stock ceased to be publicly traded. Thus, any common stock equivalents within the plans converted into rights to receive the merger consideration of $70.00 per common stock equivalent.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2014
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
	17.ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
	The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) (“AOCI”) as of December 31, 2014 and 2013.
	Changes in Accumulated Other Comprehensive Income (Loss) by Component
									Total
									Accumulated
			Unrealized			Accumulated			Other
			Gains and Losses			Gain and Loss			Comprehensive
			on Investments(2)			Derivatives			Income (Loss)
			(Dollars In Thousands, Net of Tax)
	Beginning Balance, December 31, 2013		$	540,201		$	(1,235	)	$	538,966
	Other comprehensive income (loss) before reclassifications		983,985			(2		)	983,983
	Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings		3,498			—			3,498
	Amounts reclassified from accumulated other comprehensive income (loss)(1)		(44,391		)	1,155			(43,236		)
	Net current-period other comprehensive income (loss)		943,092			1,153			944,245
	Ending Balance, December 31, 2014		$	1,483,293		$	(82	)	$	1,483,211
	(1)See Reclassification table below for details.
	(2)These balances were offset by the impact of DAC and VOBA by $198.1 million and $397.5 million as of December 31, 2013 and 2014, respectively.
	Changes in Accumulated Other Comprehensive Income (Loss) by Component
									Total
									Accumulated
			Unrealized			Accumulated			Other
			Gains and Losses			Gain and Loss			Comprehensive
			on Investments(2)			Derivatives			Income (Loss)
			(Dollars In Thousands, Net of Tax)
	Beginning Balance, December 31, 2012		$	1,814,620		$	(3,496	)	$	1,811,124
	Other comprehensive income (loss) before reclassifications		(1,250,416		)	734			(1,249,682		)
	Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings		4,591			—			4,591
	Amounts reclassified from accumulated other comprehensive income (loss)(1)		(28,594		)	1,527			(27,067		)
	Net current-period other comprehensive income (loss)		(1,274,419		)	2,261			(1,272,158		)
	Ending Balance, December 31, 2013		$	540,201		$	(1,235	)	$	538,966
		-1		See Reclassification table below for details.
		-2		These balances were offset by the impact of DAC and VOBA by $204.9 million and $198.1 million as of December 31, 2012 and 2013, respectively.
	The following table summarizes the reclassifications amounts out of AOCI for the year ended December 31, 2014 and 2013.
	Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
			Amount
			Reclassified
			from Accumulated
			Other Comprehensive			Affected Line Item in the Consolidated
			Income (Loss)			Statements of Income
			(Dollars In Thousands)
	For The Year Ended December 31, 2014
	Gains and losses on derivative instruments
	Net settlement (expense)/benefit(1)		$	(1,777	)	Benefits and settlement expenses, net of reinsurance ceded
			(1,777		)	Total before tax
			622			Tax (expense) or benefit
			$	(1,155	)	Net of tax
	Unrealized gains and losses on available-for-sale securities
	Net investment gains/losses		$	75,569		Realized investment gains (losses): All other investments
	Impairments recognized in earnings		(7,275		)	Net impairment losses recognized in earnings
			68,294			Total before tax
			(23,903		)	Tax (expense) or benefit
			$	44,391		Net of tax
		-1		See Note 23, Derivative Financial Instruments for additional information.
	Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
			Amount
			Reclassified
			from Accumulated
			Other Comprehensive			Affected Line Item in the Consolidated
			Income (Loss)			Statements of Income
			(Dollars In Thousands)
	For The Year Ended December 31, 2013
	Gains and losses on derivative instruments
	Net settlement (expense)/benefit(1)		$	(2,349	)	Benefits and settlement expenses, net of reinsurance ceded
		(2,349		)	Total before tax
		822			Tax (expense) or benefit
		$	(1,527	)	Net of tax
Unrealized gains and losses on available-for-sale securities
Net investment gains/losses		$	66,437		Realized investment gains (losses): All other investments
Impairments recognized in earnings		(22,447		)	Net impairment losses recognized in earnings
		43,990			Total before tax
		(15,396		)	Tax (expense) or benefit
		$	28,594		Net of tax
	-1		See Note 23, Derivative Financial Instruments for additional information.

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2014
INCOME TAXES
INCOME TAXES
	18.INCOME TAXES
	The Company’s effective income tax rate related to continuing operations varied from the maximum federal income tax rate as follows:
		For The Year Ended December 31,
		2014		2013		2012
	Statutory federal income tax rate applied to pre-tax income	35	%	35	%	35	%
	State income taxes	0.5		0.4		0.4
	Investment income not subject to tax	(2.7	)	(4.4	)	(3.1	)
	Uncertain tax positions	0.5		0.1		0.2
	Other	0.1		(0.1	)	0.4
		33.4	%	31	%	32.9	%
	The annual provision for federal income tax in these financial statements differs from the annual amounts of income tax expense reported in the respective income tax returns. Certain significant revenues and expenses are appropriately reported in different years with respect to the financial statements and the tax returns.
	The components of the Company’s income tax are as follows:
		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
	Current income tax expense:
	Federal	$	176,238		$	(18,076	)	$	78,510
	State	5,525			(222		)	2,496
	Total current	$	181,763		$	(18,298	)	$	81,006
	Deferred income tax expense:
	Federal	$	65,566		$	149,288		$	66,375
	State	(491		)	(93		)	3,662
	Total deferred	$	65,075		$	149,195		$	70,037
	The components of the Company’s net deferred income tax liability are as follows:
		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Deferred income tax assets:
	Premium receivables and policy liabilities	$	154,720		$	275,355
	Loss and credit carryforwards	35,642			104,530
	Deferred compensation	104,117			104,062
	Invested assets (other than unrealized gains)	2,960			—
	Valuation allowance	(791		)	(780		)
		296,648			483,167
	Deferred income tax liabilities:
	Deferred policy acquisition costs and value of business acquired	1,073,499			1,034,614
	Invested assets (other than unrealized gains)	—			147,446
	Net unrealized gains (losses) on investments	798,529			290,062
	Other	36,484			52,465
		1,908,512			1,524,587
	Net deferred income tax liability	$	(1,611,864	)	$	(1,041,420	)
	The Company’s income tax returns, except for MONY which files separately, are included in PLC’s consolidated U.S. income tax return.
	The deferred tax assets reported above include certain deferred tax assets related to nonqualified deferred compensation and other employee benefit liabilities. These liabilities were assumed by AXA; they were not acquired by the Company in connection with the acquisition of MONY discussed in Note 3, Significant Acquisitions. The future tax deductions stemming from these liabilities will be claimed by the Company on MONY’s tax returns in its post-acquisition periods. These deferred tax assets have been estimated as of the MONY Acquisition date (and through the December 31, 2014 reporting date) based on all available information. However, it is possible that these estimates may be adjusted in future reporting periods based on actuarial changes to the projected future payments associated with these liabilities. Any such adjustments will be recognized by the Company as an adjustment to income tax expense during the period in which they are realized.
	In management’s judgment, the gross deferred income tax asset as of December 31, 2014, will more likely than not be fully realized. The Company has recognized a valuation allowance of $1.2 million and $1.2 million as of December 31, 2014 and 2013, respectively, related to state-based loss carryforwards that it has determined are more likely than not to expire unutilized. Since there was no change in the valuation allowance, there were no impact to state income tax expense in 2014.
	As of December 31, 2014 and 2013, some of the Company’s fixed maturities were reported at an unrealized loss.  If the Company were to realize a tax-basis net capital loss for a year, then such loss could not be deducted against that year’s other taxable income. However, such a loss could be carried back and forward against prior year or future year tax-basis net capital gains. Therefore, the Company has relied upon a prudent and feasible tax-planning strategy regarding its fixed maturities that were reported at an unrealized loss. The Company has the ability and the intent to either hold such fixed maturities to maturity, thereby avoiding a realized loss, or to generate an offsetting realized gain from unrealized gain fixed maturities if such unrealized loss fixed maturities are sold at a loss prior to maturity. As of December 31, 2014, the Company recorded a net unrealized gain on its fixed maturities.
	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
		As of December 31,
		2014			2013			2012
		(Dollars In Thousands)
	Balance, beginning of period	$	85,846		$	74,335		$	4,318
	Additions for tax positions of the current year	57,392			7,464			9,465
	Additions for tax positions of prior years	34,371			6,787			64,050
	Reductions of tax positions of prior years:
	Changes in judgment	(9,533		)	(2,740		)	(3,498		)
	Settlements during the period	—			—			—
	Lapses of applicable statute of limitations	—			—			—
	Balance, end of period	$	168,076		$	85,846		$	74,335
	Included in the balance above, as of December 31, 2014 and 2013, are approximately $157.3 million and $78.5 million of unrecognized tax benefits, respectively, for which the ultimate deductibility is certain but for which there is uncertainty about the timing of such deductions. Other than interest and penalties, the disallowance of the shorter deductibility period would not affect the annual effective income tax rate but would accelerate to an earlier period the payment of cash to the taxing authority. The total amount of unrecognized tax benefits, if recognized, that would affect the effective income tax rate is approximately $10.7 million and $7.4 million as of December 31, 2014 and as of December 31, 2013, respectively.
	Any accrued interest related to the unrecognized tax benefits have been included in income tax expense. There were no amounts included in 2014, 2013 or 2012, as the parent company maintains responsibility for the interest on unrecognized tax benefits. The Company has no accrued interest associated with unrecognized tax benefits as of December 31, 2014 and 2013 (before taking into consideration the related income tax benefit that is associated with such an expense).
	During 2012, an IRS audit concluded in which the IRS proposed favorable and unfavorable adjustments to the Company’s 2003 through 2007 reported taxable incomes. The Company protested certain unfavorable adjustments and sought resolution at the IRS’ Appeals Division. In January 2014, the Appeals Division completed its analysis and sent the Company’s case to Congress’ Joint Committee on Taxation for routine review. Although it cannot be certain, the Company believes this review process may conclude within the next 12 months. In addition, an examination of tax years 2008 through 2011 is currently underway. The Company believes that this examination may conclude within the next 12 months. It is possible, therefore, that in the next 12 months approximately $98.4 million of the unrecognized tax benefits on the above chart will be reduced due to the expected closure of the aforementioned Appeals process, the closing of the 2008 through 2011 examination, and the lapsing of various tax years’ statutes of limitations. In general, these reductions would represent the Company’s possible successful negotiation of certain issues, coupled with its payment of the assessed taxes on other issues. This possible scenario includes an assumption that the Company would pay the IRS-asserted deficiencies on issues that it loses at Appeals rather than litigating such issues. These assumed tax payments would not materially impact the Company or its effective tax rate.
	During the 12 months ended December 31, 2014 and 2013, discussions with the IRS, related to their ongoing examination of tax years 2008 through 2011 prompted the Company overall to revise upward its measurement of unrecognized tax benefits. These changes underlying this overall increase were almost entirely related to timing issues. Therefore, aside from the cost of interest, such changes did not result in any impact on the Company’s effective tax rate. In addition, during the 12 months ended December 31, 2013, the Company’s uncertain tax position liability decreased in the amount of $2.7 million. This was caused by the interaction of certain limitations regarding the dividends-received deduction and changes to taxable income caused by other uncertain tax positions resulting from new technical guidance, etc. This led the Company to conclude that the full amount of the associated tax benefit was more than 50% likely to be realized.
	In general, the Company is no longer subject to U.S. federal, state and local income tax examinations by taxing authorities for tax years that began before 2003.

SUPPLEMENTAL_CASH_FLOW_INFORMA

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2014
SUPPLEMENTAL CASH FLOW INFORMATION
SUPPLEMENTAL CASH FLOW INFORMATION
	19.SUPPLEMENTAL CASH FLOW INFORMATION
	The following table sets forth supplemental cash flow information:
		For The Year Ended December 31,
		2014		2013			2012
		(Dollars In Thousands)
	Cash paid / (received) during the year:
	Interest expense	$	117,776	$	110,301		$	92,175
	Income taxes	159,724		(54,370		)	77,665

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2014
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS
	20.RELATED PARTY TRANSACTIONS
	The Company leases furnished office space and computers to affiliates. Lease revenues were $4.9 million, $4.9 million, and $4.7 million for the years ended December 31, 2014, 2013, and 2012, respectively. The Company purchases data processing, legal, investment, and management services from affiliates. The costs of such services were $206.3 million, $170.9 million, and $154.7 million for the years ended December 31, 2014, 2013, and 2012, respectively.  In addition, the Company has an intercompany payable with affiliates as of December 31, 2014 and 2013 of $19.5 million and $27.6 million, respectively. There was no intercompany receivable with affiliates balance as of December 31, 2014 or December 31, 2013.
	Certain corporations with which PLC’s directors were affiliated paid us premiums and policy fees or other amounts for various types of insurance and investment products, interest on bonds we own and commissions on securities underwritings in which our affiliates participated. Such amounts totaled $33.4 million, $40.0 million, and $59.1 million in 2014, 2013, and 2012, respectively. The Company and/or PLC paid commissions, interest on debt and investment products, and fees to these same corporations totaling $16.5 million, $16.4 million, and $13.0 million in 2014, 2013, and 2012, respectively.
	Prior to the Merger, PLC and the Company had no related party transactions with Dai-ichi Life.
	PLC has guaranteed the Company’s obligations for borrowings or letters of credit under the revolving line of credit arrangement to which PLC is also a party. PLC has also issued guarantees, entered into support agreements and/or assumed a duty to indemnify its indirect wholly owned captive insurance companies in certain respects. In addition, as of December 31, 2014, PLC is the sole holder of the $800 million balance of outstanding surplus notes issued by one such wholly owned captive insurance company, Golden Gate.
	As of February 1, 2000, PLC guaranteed the obligations of the Company under a synthetic lease entered into by the Company, as lessee, with a non-affiliated third party, as lessor. Under the terms of the synthetic lease, financing of $75 million was available to the Company for construction of a new office building and parking deck. The synthetic lease was amended and restated as of January 11, 2007, and again on December 19, 2013, wherein as of December 31, 2014, PLC continues to guarantee the obligations of the Company thereunder.
	The Company has agreements with certain of its subsidiaries under which it provides administrative services for a fee. These services include but are not limited to accounting, financial reporting, compliance, policy administration, reserve computations, and projections. In addition, the Company and its subsidiaries pay PLC for investment, legal and data processing services.
	The Company and/or certain of its affiliates have reinsurance agreements in place with companies owned by PLC. These agreements relate to certain portions of our service contract business which is included within the Asset Protection segment. These transactions are eliminated at the PLC consolidated level.
	The Company has reinsured GMWB and GMDB riders related to our variable annuity contracts to Shades Creek, a wholly owned insurance subsidiary of PLC. Also during 2012, PLC entered into an intercompany capital support agreement with Shades Creek which provides through a guarantee that PLC will contribute assets or purchase surplus notes (or cause an affiliate or third party to contribute assets or purchase surplus notes) in amounts necessary for Shades Creek’s regulatory capital levels to equal or exceed minimum thresholds as defined by the agreement. Under this support agreement, the Company issued a $55 million Letter of Credit on December 31, 2014. No borrowings under this agreement were outstanding as of December 31, 2014. As of December 31, 2014, Shades Creek maintained capital levels in excess of the required minimum thresholds. The maximum potential future payment amount which could be required under the capital support agreement will be dependent on numerous factors, including the performance of equity markets, the level of interest rates, performance of associated hedges, and related policyholder behavior.
	As of December 31, 2012, Shades Creek was a direct wholly owned insurance subsidiary of the Company. On April 1, 2013, the Company paid to its parent, PLC, a dividend that consisted of all outstanding stock of Shades Creek. The Company will continue to reinsure guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum death benefits (“GMDB”) riders to Shades Creek, which include a funds withheld account that is considered a derivative. For more information related to the derivative, refer to Note 22,  Fair Value of Financial Instruments and Note 23, Derivative Financial Instruments. For cash flow purposes, portions of the dividend were treated as non-cash transactions.
	The following balances from Shades Creek’s balance sheet as of March 31, 2013 with the exception of cash, were excluded from the Company’s cash flow statement for the year ended December 31, 2013:
		As of
		March 31, 2013
		(Dollars In Thousands)
	Assets
	Other long-term investments	$	34,093
	Short-term investments	745
	Total investments	34,838
	Cash	44,963
	Accounts and premiums receivable	16,036
	Deferred policy acquisition cost	123,847
	Other assets	48,953
	Total assets	$	268,637
	Liabilities
	Future policy benefits and claims	$	1,626
	Other liabilities	178,321
	Deferred income taxes	2,459
	Total liabilities	182,406
	Total equity	86,231
	Total liabilities and equity	$	268,637

STATUTORY_REPORTING_PRACTICES_

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2014
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
	21.STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
	The Company’s insurance subsidiaries prepare statutory financial statements for regulatory purposes in accordance with accounting practices prescribed by the NAIC and the applicable state insurance department laws and regulations. These financial statements vary materially from GAAP. Statutory accounting practices include publications of the NAIC, state laws, regulations, general administrative rules as well as certain permitted accounting practices granted by the respective state insurance department. Generally, the most significant differences are that statutory financial statements do not reflect 1) deferred acquisition costs, 2) benefit liabilities that are calculated using Company estimates of expected mortality, interest, and withdrawals, 3) deferred income taxes that are not subject to statutory limits, 4) recognition of realized gains and losses on the sale of securities in the period they are sold, and 5) fixed maturities recorded at fair values, but instead at amortized cost.
	Statutory net income for the Company was $554.2 million, $165.5 million, and $376.3 million for the year ended December 31, 2014, 2013 and 2012, respectively. Statutory capital and surplus for the Company was $3.5 billion and $2.9 billion as of December 31, 2014 and 2013, respectively.
	The Company’s insurance subsidiaries are subject to various state statutory and regulatory restrictions on the insurance subsidiaries’ ability to pay dividends to Protective Life Corporation. In general, dividends up to specified levels are considered ordinary and may be paid thirty days after written notice to the insurance commissioner of the state of domicile unless such commissioner objects to the dividend prior to the expiration of such period. Dividends in larger amounts are considered extraordinary and are subject to affirmative prior approval by such commissioner. The maximum amount that would qualify as ordinary dividends to the Company from our insurance subsidiaries in 2015 is approximately $138.4 million. Additionally, as of December 31, 2014, approximately $730.1 million of consolidated shareowner’s equity, excluding net unrealized gains on investments, represented restricted net assets of the Company’s insurance subsidiaries needed to maintain the minimum capital required by the insurance subsidiaries’ respective state insurance departments.
	State insurance regulators and the National Association of Insurance Commissioners (“NAIC”) have adopted risk-based capital (“RBC”) requirements for life insurance companies to evaluate the adequacy of statutory capital and surplus in relation to investment and insurance risks. The requirements provide a means of measuring the minimum amount of statutory surplus appropriate for an insurance company to support its overall business operations based on its size and risk profile.
	A company’s risk-based statutory surplus is calculated by applying factors and performing calculations relating to various asset, premium, claim, expense and reserve items. Regulators can then measure the adequacy of a company’s statutory surplus by comparing it to the RBC. Under specific RBC requirements, regulatory compliance is determined by the ratio of a company’s total adjusted capital, as defined by the insurance regulators, to its company action level of RBC (known as the RBC ratio), also as defined by insurance regulators. As of December 31, 2014, the Company’s total adjusted capital and company action level RBC was $3.9 billion and $687.8 million, respectively, providing an RBC ratio of approximately 562%.
	Additionally, the Company has certain assets that are on deposit with state regulatory authorities and restricted from use. As of December 31, 2014, the Company’s insurance subsidiaries had on deposit with regulatory authorities, fixed maturity and short-term investments with a fair value of approximately $45.3 million.
	The states of domicile of the Company’s insurance subsidiaries have adopted prescribed accounting practices that differ from the required accounting outlined in NAIC Statutory Accounting Principles (“SAP”). The insurance subsidiaries also have certain accounting practices permitted by the states of domicile that differ from those found in NAIC SAP.
	Certain prescribed and permitted practices impact the statutory surplus of the Company. These practices include the non-admission of goodwill as an asset for statutory reporting and the reporting of Bank Owned Life Insurance (“BOLI”) separate account amounts at book value rather than at fair value.
	The favorable (unfavorable) effects of the Company’s statutory surplus, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows:
		As of December 31,
		2014			2013
		(Dollars In Millions)
	Non-admission of goodwill	$	(310	)	$	(311	)
	Total (net)	$	(310	)	$	(311	)
	The Company also has certain prescribed and permitted practices which are applied at the subsidiary level and do not have a direct impact on the statutory surplus of the Company. These practices include permission to follow the actuarial guidelines of the domiciliary state of the ceding insurer for certain captive reinsurers, accounting for the face amount of all issued and outstanding letters of credit, and a note issued by an affiliate as an asset in the statutory financial statements of certain wholly owned subsidiaries that are considered “Special Purpose Financial Captives”, and a reserve difference related to a captive insurance company.
	The favorable (unfavorable) effects on the statutory surplus of the Company’s insurance subsidiaries, compared to NAIC statutory surplus, from the use of these prescribed and permitted practices were as follows:
		As of December 31,
		2014			2013
		(Dollars In Millions)
	Accounting for Letters of Credit as admitted assets	$	1,735		$	1,415
	Accounting for Red Mountain Note as admitted asset	$	435		$	365
	Reserving based on state specific actuarial practices	$	112		$	105
	Reserving difference related to a captive insurance company	$	(87	)	$	(22	)

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS
	22.FAIR VALUE OF FINANCIAL INSTRUMENTS
	The Company determined the fair value of its financial instruments based on the fair value hierarchy established in FASB guidance referenced in the Fair Value Measurements and Disclosures Topic which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company has adopted the provisions from the FASB guidance that is referenced in the Fair Value Measurements and Disclosures Topic for non-financial assets and liabilities (such as property and equipment, goodwill, and other intangible assets) that are required to be measured at fair value on a periodic basis. The effect on the Company’s periodic fair value measurements for non-financial assets and liabilities was not material.
	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: Unadjusted quoted prices for identical assets or liabilities in an active market.
		·		Level 2: Quoted prices in markets that are not active or significant inputs that are observable either directly or indirectly. Level 2 inputs include the following:
		a)		Quoted prices for similar assets or liabilities in active markets
		b)		Quoted prices for identical or similar assets or liabilities in non-active markets
		c)		Inputs other than quoted market prices that are observable
		d)		Inputs that are derived principally from or corroborated by observable market data through correlation or other means.
		·		Level 3: Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.
	The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2014:
			Level 1			Level 2			Level 3			Total
			(Dollars In Thousands)
	Assets:
	Fixed maturity securities - available-for-sale
	Residential mortgage-backed securities		$	—		$	1,418,255		$	3		$	1,418,258
	Commercial mortgage-backed securities		—			1,177,252			—			1,177,252
	Other asset-backed securities		—			275,415			563,961			839,376
	U.S. government-related securities		1,165,188			263,707			—			1,428,895
	State, municipalities, and political subdivisions		—			1,684,014			3,675			1,687,689
	Other government-related securities		—			20,172			—			20,172
	Corporate bonds		132			26,039,963			1,325,683			27,365,778
	Total fixed maturity securities - available-for-sale		1,165,320			30,878,778			1,893,322			33,937,420
	Fixed maturity securities - trading
	Residential mortgage-backed securities		—			288,114			—			288,114
	Commercial mortgage-backed securities		—			151,111			—			151,111
	Other asset-backed securities		—			105,118			169,461			274,579
	U.S. government-related securities		245,563			4,898			—			250,461
	State, municipalities, and political subdivisions		—			325,446			—			325,446
	Other government-related securities		—			57,032			—			57,032
	Corporate bonds		—			1,447,333			24,744			1,472,077
	Total fixed maturity securities - trading		245,563			2,379,052			194,205			2,818,820
	Total fixed maturity securities		1,410,883			33,257,830			2,087,527			36,756,240
	Equity securities		590,832			99,267			66,691			756,790
	Other long-term investments (1)		119,997			106,079			44,625			270,701
	Short-term investments		243,436			3,281			—			246,717
	Total investments		2,365,148			33,466,457			2,198,843			38,030,448
	Cash		268,286			—			—			268,286
	Assets related to separate accounts
	Variable annuity		13,157,429			—			—			13,157,429
	Variable universal life		834,940			—			—			834,940
	Total assets measured at fair value on a recurring basis		$	16,625,803		$	33,466,457		$	2,198,843		$	52,291,103
	Liabilities:
	Annuity account balances(2)		$	—		$	—		$	97,825		$	97,825
	Other liabilities (1)		62,146			61,046			506,343			629,535
	Total liabilities measured at fair value on a recurring basis		$	62,146		$	61,046		$	604,168		$	727,360
		-1		Includes certain freestanding and embedded derivatives.
		-2		Represents liabilities related to fixed indexed annuities.
	The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:
			Level 1			Level 2			Level 3			Total
			(Dollars In Thousands)
	Assets:
	Fixed maturity securities - available-for-sale
	Residential mortgage-backed securities		$	—		$	1,445,040		$	28		$	1,445,068
	Commercial mortgage-backed securities		—			970,656			—			970,656
	Other asset-backed securities		—			326,175			545,808			871,983
	U.S. government-related securities		1,211,141			296,749			—			1,507,890
	State, municipalities, and political subdivisions		—			1,407,154			3,675			1,410,829
	Other government-related securities		—			51,427			—			51,427
	Corporate bonds		107			24,198,529			1,549,940			25,748,576
	Total fixed maturity securities - available-for-sale		1,211,248			28,695,730			2,099,451			32,006,429
	Fixed maturity securities - trading
Residential mortgage-backed securities		—			310,877			—			310,877
Commercial mortgage-backed securities		—			158,570			—			158,570
Other asset-backed securities		—			93,278			194,977			288,255
U.S. government-related securities		191,332			4,906			—			196,238
State, municipalities, and political subdivisions		—			260,892			—			260,892
Other government-related securities		—			57,097			—			57,097
Corporate bonds		—			1,497,362			29,199			1,526,561
Total fixed maturity securities - trading		191,332			2,382,982			224,176			2,798,490
Total fixed maturity securities		1,402,580			31,078,712			2,323,627			34,804,919
Equity securities		483,482			50,927			67,979			602,388
Other long-term investments (1)		56,469			54,965			98,886			210,320
Short-term investments		131,422			1,603			—			133,025
Total investments		2,073,953			31,186,207			2,490,492			35,750,652
Cash		345,579			—			—			345,579
Other assets		—			—			—			—
Assets related to separate accounts
Variable annuity		12,791,438			—			—			12,791,438
Variable universal life		783,618			—			—			783,618
Total assets measured at fair value on a recurring basis		$	15,994,588		$	31,186,207		$	2,490,492		$	49,671,287
Liabilities:
Annuity account balances (2)		$	—		$	—		$	107,000		$	107,000
Other liabilities (1)		30,241			191,182			233,738			455,161
Total liabilities measured at fair value on a recurring basis		$	30,241		$	191,182		$	340,738		$	562,161
(1)Includes certain freestanding and embedded derivatives.
(2)Represents liabilities related to fixed indexed annuities.
Determination of Fair Values
The valuation methodologies used to determine the fair values of assets and liabilities reflect market participant assumptions and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The Company determines the fair values of certain financial assets and financial liabilities based on quoted market prices, where available. The Company also determines certain fair values based on future cash flows discounted at the appropriate current market rate. Fair values reflect adjustments for counterparty credit quality, the Company’s credit standing, liquidity, and where appropriate, risk margins on unobservable parameters. The following is a discussion of the methodologies used to determine fair values for the financial instruments as listed in the above table.
The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a ‘‘waterfall’’ approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Third party pricing services price approximately 90% of the Company’s available-for-sale and trading fixed maturity securities. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non-binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which we purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party pricing service or an independent broker quotation.
The pricing matrix used by the Company begins with current spread levels to determine the market price for the security. The credit spreads, assigned by brokers, incorporate the issuer’s credit rating, liquidity discounts, weighted-average of contracted cash flows, risk premium, if warranted, due to the issuer’s industry, and the security’s time to maturity. The Company uses credit ratings provided by nationally recognized rating agencies.
For securities that are priced via non-binding independent broker quotations, the Company assesses whether prices received from independent brokers represent a reasonable estimate of fair value through an analysis using internal and external cash flow models developed based on spreads and, when available, market indices. The Company uses a market-based cash flow analysis to validate the reasonableness of prices received from independent brokers. These analytics, which are updated daily, incorporate various metrics (yield curves, credit spreads, prepayment rates, etc.) to determine the valuation of such holdings. As a result of this analysis, if the Company determines there is a more appropriate fair value based upon the analytics, the price received from the independent broker is adjusted accordingly. The Company did not adjust any quotes or prices received from brokers during the year ended December 31, 2014.
The Company has analyzed the third party pricing services’ valuation methodologies and related inputs and has also evaluated the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy level based upon trading activity and the observability of market inputs that is in accordance with the Fair Value Measurements and Disclosures Topic of the ASC. Based on this evaluation and investment class analysis, each price was classified to Level 1, 2, or 3. Most prices provided by third party pricing services are classified into Level 2 because the significant inputs used in pricing the securities are market observable and the observable inputs are corroborated by the Company. Since the matrix pricing of certain debt securities includes significant non-observable inputs, they are classified as Level 3.
Asset-Backed Securities
This category mainly consists of residential mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities (collectively referred to as asset-backed securities or “ABS”). As of December 31, 2014, the Company held $3.4 billion of ABS classified as Level 2. These securities are priced from information provided by a third party pricing service and independent broker quotes. The third party pricing services and brokers mainly value securities using both a market and income approach to valuation. As part of this valuation process they consider the following characteristics of the item being measured to be relevant inputs: 1) weighted-average coupon rate, 2) weighted-average years to maturity, 3) types of underlying assets, 4) weighted-average coupon rate of the underlying assets, 5) weighted-average years to maturity of the underlying assets, 6) seniority level of the tranches owned, and 7) credit ratings of the securities.
After reviewing these characteristics of the ABS, the third party pricing service and brokers use certain inputs to determine the value of the security. For ABS classified as Level 2, the valuation would consist of predominantly market observable inputs such as, but not limited to: 1) monthly principal and interest payments on the underlying assets, 2) average life of the security, 3) prepayment speeds, 4) credit spreads, 5) treasury and swap yield curves, and 6) discount margin. The Company reviews the methodologies and valuation techniques (including the ability to observe inputs) in assessing the information received from external pricing services and in consideration of the fair value presentation.
As of December 31, 2014, the Company held $733.4 million of Level 3 ABS, which included $564.0 million of other asset-backed securities classified as available-for-sale and $169.4 million of other asset-backed securities classified as trading. These securities are predominantly ARS whose underlying collateral is at least 97% guaranteed by the FFELP. As a result of the ARS market collapse during 2008, the Company prices its ARS using an income approach valuation model. As part of the valuation process the Company reviews the following characteristics of the ARS in determining the relevant inputs: 1) weighted-average coupon rate, 2) weighted-average years to maturity, 3) types of underlying assets, 4) weighted-average coupon rate of the underlying assets, 5) weighted-average years to maturity of the underlying assets, 6) seniority level of the tranches owned, 7) credit ratings of the securities, 8) liquidity premium, and 9) paydown rate.
Corporate Bonds, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities
As of December 31, 2014, the Company classified approximately $29.8 billion of corporate bonds, U.S. government-related securities, states, municipals, and political subdivisions, and other government-related securities as Level 2. The fair value of the Level 2 bonds and securities is predominantly priced by broker quotes and a third party pricing service. The Company has reviewed the valuation techniques of the brokers and third party pricing service and has determined that such techniques used Level 2 market observable inputs. The following characteristics of the bonds and securities are considered to be the primary relevant inputs to the valuation: 1) weighted-average coupon rate, 2) weighted-average years to maturity, 3) seniority, and 4) credit ratings. The Company reviews the methodologies and valuation techniques (including the ability to observe inputs) in assessing the information received from external pricing services and in consideration of the fair value presentation.
The brokers and third party pricing service utilize valuation models that consist of a hybrid income and market approach to valuation. The pricing models utilize the following inputs: 1) principal and interest payments, 2) treasury yield curve, 3) credit spreads from new issue and secondary trading markets, 4) dealer quotes with adjustments for issues with early redemption features, 5) liquidity premiums present on private placements, and 6) discount margins from dealers in the new issue market.
As of December 31, 2014, the Company classified approximately $1.4 billion of bonds and securities as Level 3 valuations. Level 3 bonds and securities primarily represent investments in illiquid bonds for which no price is readily available. To determine a price, the Company uses a discounted cash flow model with both observable and unobservable inputs. These inputs are entered into an industry standard pricing model to determine the final price of the security. These inputs include: 1) principal and interest payments, 2) coupon rate, 3) sector and issuer level spread over treasury, 4) underlying collateral, 5) credit ratings, 6) maturity, 7) embedded options, 8) recent new issuance, 9) comparative bond analysis, and 10) an illiquidity premium.
Equities
As of December 31, 2014, the Company held approximately $166.0 million of equity securities classified as Level 2 and Level 3. Of this total, $66.0 million represents Federal Home Loan Bank (“FHLB”) stock. The Company believes that the cost of the FHLB stock approximates fair value. The remainder of these equity securities is primarily investments in preferred stock.
Other Long-Term Investments and Other Liabilities
Other long-term investments and other liabilities consist entirely of free-standing and embedded derivative financial instruments. Refer to Note 23, Derivative Financial Instruments for additional information related to derivatives. Derivative financial instruments are valued using exchange prices, independent broker quotations, or pricing valuation models, which utilize market data inputs. Excluding embedded derivatives, as of December 31, 2014, 78.8% of derivatives based upon notional values were priced using exchange prices or independent broker quotations. The remaining derivatives were priced by pricing valuation models, which predominantly utilize observable market data inputs. Inputs used to value derivatives include, but are not limited to, interest swap rates, credit spreads, interest rate and equity market volatility indices, equity index levels, and treasury rates. The Company performs monthly analysis on derivative valuations that includes both quantitative and qualitative analyses.
Derivative instruments classified as Level 1 generally include futures and options, which are traded on active exchange markets.
Derivative instruments classified as Level 2 primarily include interest rate and inflation swaps, options, and swaptions. These derivative valuations are determined using independent broker quotations, which are corroborated with observable market inputs.
Derivative instruments classified as Level 3 were embedded derivatives and include at least one significant non-observable input. A derivative instrument containing Level 1 and Level 2 inputs will be classified as a Level 3 financial instrument in its entirety if it has at least one significant Level 3 input.
The Company utilizes derivative instruments to manage the risk associated with certain assets and liabilities. However, the derivative instruments may not be classified within the same fair value hierarchy level as the associated assets and liabilities. Therefore, the changes in fair value on derivatives reported in Level 3 may not reflect the offsetting impact of the changes in fair value of the associated assets and liabilities.
The embedded derivatives are carried at fair value in “other long-term investments” and “other liabilities” on the Company’s consolidated balance sheet. The changes in fair value are recorded in earnings as “Realized investment gains (losses) — Derivative financial instruments”. Refer to Note 23, Derivative Financial Instruments for more information related to each embedded derivatives gains and losses.
The fair value of the GMWB embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using multiple risk neutral stochastic equity scenarios and policyholder behavior assumptions. The risk neutral scenarios are generated using the current swap curve and projected equity volatilities and correlations. The projected equity volatilities are based on a blend of historical volatility and near-term equity market implied volatilities. The equity correlations are based on historical price observations. For policyholder behavior assumptions, expected lapse and utilization assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience, with attained age factors varying from 44.5% - 100%. The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR plus a credit spread (to represent the Company’s non-performance risk). As a result of using significant unobservable inputs, the GMWB embedded derivative is categorized as Level 3. These assumptions are reviewed on a quarterly basis.
The balance of the FIA embedded derivative is impacted by policyholder cash flows associated with the FIA product that are allocated to the embedded derivative in addition to changes in the fair value of the embedded derivative during the reporting period. The fair value of the FIA embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using current index values and volatility, the hedge budget used to price the product, and policyholder assumptions (both elective and non-elective). For policyholder behavior assumptions, expected lapse and withdrawal assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the 1994 Variable Annuity MGDB mortality table modified for company experience, with attained age factors varying from 49% - 80%. The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR up to one year and constant maturity treasury rates plus a credit spread (to represent the Company’s non-performance risk) thereafter. Policyholder assumptions are reviewed on an annual basis. As a result of using significant unobservable inputs, the FIA embedded derivative is categorized as Level 3.
The balance of the indexed universal life (“IUL”) embedded derivative is impacted by policyholder cash flows associated with the IUL product that are allocated to the embedded derivative in addition to changes in the fair value of the embedded derivative during the reporting period. The fair value of the IUL embedded derivative is derived through the income method of valuation using a valuation model that projects future cash flows using current index values and volatility, the hedge budget used to price the product, and policyholder assumptions (both elective and non-elective). For policyholder behavior assumptions, expected lapse and withdrawal assumptions are used and updated for actual experience, as necessary. The Company assumes age-based mortality from the SOA 2008 VBT Primary Tables modified for company experience, with attained age factors varying from 37% - 74%. The present value of the cash flows is determined using the discount rate curve, which is based upon LIBOR up to one year and constant maturity treasury rates plus a credit spread (to represent the Company’s non-performance risk) thereafter. Policyholder assumptions are reviewed on an annual basis. As a result of using significant unobservable inputs, the IUL embedded derivative is categorized as Level 3.
The Company has assumed and ceded certain blocks of policies under modified coinsurance agreements in which the investment results of the underlying portfolios inure directly to the reinsurers. As a result, these agreements contain embedded derivatives that are reported at fair value. Changes in their fair value are reported in earnings. The investments supporting these agreements are designated as “trading securities”; therefore changes in their fair value are also reported in earnings. The fair value of the embedded derivative is the difference between the statutory policy liabilities (net of policy loans) of $2.5 billion and the fair value of the trading securities of $2.8 billion. As a result, changes in the fair value of the embedded derivatives are largely offset by the changes in fair value of the related investments and each are reported in earnings. The fair value of the embedded derivative is considered a Level 3 valuation due to the unobservable nature of the policy liabilities.
Certain of the Company’s subsidiaries have entered into interest support, a yearly renewable term (“YRT”) premium support, and portfolio maintenance agreements with PLC. These agreements meet the definition of a derivative and are accounted for at fair value and are considered Level 3 valuations. The fair value of these derivatives as of December 31, 2014 was $6.1 million and is included in Other long-term investments. For information regarding realized gains on these derivatives please refer to Note 23, Derivative Financial Instruments.
The Interest Support Agreement provides that PLC will make payments to Golden Gate II if actual investment income on certain of Golden Gate II’s asset portfolios falls below a calculated investment income amount as defined in the Interest Support Agreement. The calculated investment income amount is a level of investment income deemed to be sufficient to support certain of Golden Gate II’s obligations under a reinsurance agreement with the Company, dated July 1, 2007. The derivative is valued using an internal valuation model that assumes a conservative projection of investment income under an adverse interest rate scenario and the probability that the expectation falls below the calculated investment income amount. This derivative had a fair value of $4.2 million as of December 31, 2014. The assessment of required payments from PLC under the Interest Support Agreement occurs annually. As of December 31, 2014, no payments have been triggered under this agreement.
The YRT Premium support agreement provides that PLC will make payments to Golden Gate II in the event that YRT premium rates increase. The derivative is valued using an internal valuation model. The valuation model is a probability weighted discounted cash flow model. The value is primarily a function of the likelihood and severity of future YRT premium increases. The fair value of this derivative as of December 31, 2014 was $1.7 million. As of December 31, 2014, no payments have been triggered under this agreement.
The portfolio maintenance agreements provide that PLC will make payments to Golden Gate V and WCL in the event of other-than-temporary impairments on investments that exceed defined thresholds. The derivatives are valued using an internal discounted cash flow model. The significant unobservable inputs are the projected probability and severity of credit losses used to project future cash flows on the investment portfolios.  The fair value of the portfolio maintenance agreements as of December 31, 2014, was approximately $0.1 million. As of December 31, 2014, no payments have been triggered under this agreement.
The Funds Withheld derivative results from a reinsurance agreement with Shades Creek where the economic performance of certain hedging instruments held by the Company is ceded to Shades Creek. The value of the Funds Withheld derivative is directly tied to the value of the hedging instruments held in the funds withheld account. The hedging instruments predominantly consist of derivative instruments the fair values of which are classified as a Level 2 measurement; as such, the fair value of the Funds Withheld derivative has been classified as a Level 2 measurement. The fair value of the Funds Withheld derivative as of December 31, 2014, was a liability of $57.3 million.
Annuity Account Balances
The Company records certain of its FIA reserves at fair value. The fair value is considered a Level 3 valuation. The FIA valuation model calculates the present value of future benefit cash flows less the projected future profits to quantify the net liability that is held as a reserve. This calculation is done using multiple risk neutral stochastic equity scenarios. The cash flows are discounted using LIBOR plus a credit spread. Best estimate assumptions are used for partial withdrawals, lapses, expenses and asset earned rate with a risk margin applied to each. These assumptions are reviewed at least annually as a part of the formal unlocking process. If an event were to occur within a quarter that would make the assumptions unreasonable, the assumptions would be reviewed within the quarter.
The discount rate for the fixed indexed annuities is based on an upward sloping rate curve which is updated each quarter. The discount rates for December 31, 2014, ranged from a one month rate of 0.30%, a 5 year rate of 2.37%, and a 30 year rate of 3.67%. A credit spread component is also included in the calculation to accommodate non-performance risk.
Separate Accounts
Separate account assets are invested in open-ended mutual funds and are included in Level 1.
Valuation of Level 3 Financial Instruments
The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments:
		Fair Value
		As of			Valuation		Unobservable		Range
		December 31, 2014			Technique		Input		(Weighted Average)
		(Dollars In Thousands)
Assets:
Other asset-backed securities		$	563,752		Discounted cash flow		Liquidity premium		0.39%-1.49% (0.69%)
							Paydown rate		9.70% - 15.80% (12.08%)
Corporate bonds		1,282,864			Discounted cash flow		Spread over treasury		0.33% - 7.50% (2.19%)
Liabilities:
Embedded derivatives - GMWB(1)		$	25,927		Actuarial cash flow model		Mortality		44.5% to 100% of 1994
							Lapse		MGDB table
									0.25% - 17%, depending on product/duration/funded status of guarantee
							Utilization		97% - 101%
							Nonperformance risk		0.12% - 0.96%
Annuity account balances(2)		97,825			Actuarial cash flow model		Asset earned rate		3.86% - 5.92%
							Expenses		$88 - $102 per policy
							Withdrawal rate		2.20%
							Mortality		49% to 80% of 1994
									MGDB table
							Lapse		2.2% - 33.0%, depending on duration/surrender charge period
							Return on assets		1.50% - 1.85% depending on surrender charge period
							Nonperformance risk		0.12% - 0.96%
Embedded derivative-FIA		124,465			Actuarial cash flow model		Expenses		$83 - $97 per policy
							Withdrawal rate		1.1% - 4.5% depending on
									duration and tax qualification
							Mortality		49% - 80% of 1994
									MGDB table
							Lapse		2.5% - 40.0%, depending on duration/surrender charge period
							Nonperformance risk		0.12% - 0.96%
Embedded derivative-IUL		6,691			Actuarial cash flow model		Mortality		37% - 74% of 2008 VBT
									Primary Tables
							Lapse		0.5% - 10.0%, depending on duration/distribution channel and smoking class
							Nonperformance risk		0.12% - 0.96%
	-1		The fair value for the GMWB embedded derivative is presented as a net liability. Excludes modified coinsurance agreements.
	-2		Represents liabilities related to fixed indexed annuities.
The chart above excludes Level 3 financial instruments that are valued using broker quotes and those which book value approximates fair value.
The Company has considered all reasonably available quantitative inputs as of December 31, 2014, but the valuation techniques and inputs used by some brokers in pricing certain financial instruments are not shared with the Company. This resulted in $237.2 million of financial instruments being classified as Level 3 as of December 31, 2014. Of the $237.2 million, $169.7 million are other asset-backed securities and $67.5 million are corporate bonds.
In certain cases the Company has determined that book value materially approximates fair value. As of December 31, 2014, the Company held $70.4 million of financial instruments where book value approximates fair value. Of the $70.4 million, $66.7 million represents equity securities, which are predominantly FHLB stock, and $3.7 million of other fixed maturity securities.
The following table presents the valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments:
		Fair Value
		As of			Valuation		Unobservable		Range
		December 31, 2013			Technique		Input		(Weighted Average)
		(Dollars In Thousands)
Assets:
Other asset-backed securities		$	545,808		Discounted cash flow		Liquidity premium		1.00%-1.68%% (1.08%)
							Paydown rate		8.57% - 16.87% (12.05%)
Corporate bonds		1,555,898			Discounted cash flow		Spread over treasury		0.11% - 6.75% (2.06%)
Embedded derivatives - GMWB(1)		93,939			Actuarial cash flow model		Mortality		49% to 80% of 1994
									MGDB table
							Lapse		0% - 24%, depending on product/duration/funded status of guarantee
							Utilization		97% - 103%
							Nonperformance risk		0.15% - 1.06%
Liabilities:
Annuity account balances(2)		$	107,000		Actuarial cash flow model		Asset earned rate		5.37%
							Expenses		$88 - $102 per policy
							Withdrawal rate		2.20%
							Mortality		49% to 80% of 1994
									MGDB table
							Lapse		2.2% - 33.0%, depending on duration/surrender charge period
							Return on assets		1.50% - 1.85% depending on surrender charge period
							Nonperformance risk		0.15% - 1.06%
Embedded derivative - FIA		25,324			Actuarial cash flow model		Expenses		$83 - $97 per policy
							Withdrawal rate		1.1% to 4.5% depending on duration and tax qualification
							Mortality		49% to 80% of 1994
									MGDB table
							Lapse		2.5% - 40.0%, depending on duration/surrender charge period
							Nonperformance risk		0.15% - 1.06%
	-1		The fair value for the GMWB embedded derivative is presented as a net asset. Excludes modified coinsurance arrangements.
	-2		Represents liabilities related to fixed indexed annuities.
The chart above excludes Level 3 financial instruments that are valued using broker quotes and those which book value approximates fair value.
The Company has considered all reasonably available quantitative inputs as of December 31, 2013, but the valuation techniques and inputs used by some brokers in pricing certain financial instruments are not shared with the Company.  This resulted in $216.0 million of financial instruments being classified as Level 3 as of December 31, 2013. Of the $216.0 million, $195.0 million are other asset backed securities and $21.0 million are corporate bonds.
In certain cases the Company has determined that book value materially approximates fair value. As of December 31, 2013, the Company held $73.9 million of financial instruments where book value approximates fair value. Of the $73.9 million, $68.0 million represents equity securities, which are predominantly FHLB stock, and $3.7 million of other fixed maturity securities, and $2.2 million of other corporate bonds.
The asset-backed securities classified as Level 3 are predominantly ARS. A change in the paydown rate (the projected annual rate of principal reduction) of the ARS can significantly impact the fair value of these securities. A decrease in the paydown rate would increase the projected weighted average life of the ARS and increase the sensitivity of the ARS’ fair value to changes in interest rates. An increase in the liquidity premium would result in a decrease in the fair value of the securities, while a decrease in the liquidity premium would increase the fair value of these securities.
The fair value of corporate bonds classified as Level 3 is sensitive to changes in the interest rate spread over the corresponding U.S. Treasury rate. This spread represents a risk premium that is impacted by company specific and market factors. An increase in the spread can be caused by a perceived increase in credit risk of a specific issuer and/or an increase in the overall market risk premium associated with similar securities. The fair values of corporate bonds are sensitive to changes in spread. When holding the treasury rate constant, the fair value of corporate bonds increases when spreads decrease, and decreases when spreads increases.
The fair value of the GMWB embedded derivative is sensitive to changes in the discount rate which includes the Company’s nonperformance risk, volatility, lapse, and mortality assumptions. The volatility assumption is an observable input as it is based on market inputs. The Company’s nonperformance risk, lapse, and mortality are unobservable. An increase in the three unobservable assumptions would result in a decrease in the fair value and conversely, if there is a decrease in the assumptions the fair value would increase. The fair value is also dependent on the assumed policyholder utilization of the GMWB where an increase in assumed utilization would result in an increase in the liability and conversely, if there is a decrease in the assumption, the liability would decrease.
The fair value of the FIA account balance liability is predominantly impacted by observable inputs such as discount rates and equity returns. However, the fair value of the FIA embedded derivative is sensitive to non-performance risk, which is unobservable. The value of the liability increases with decreases in the discount rate and non-performance risk and decreases with increases in the discount rate and nonperformance risk. The value of the liability increases with increases in equity returns and the liability decreases with a decrease in equity returns.
The fair value of the IUL embedded derivative is predominantly impacted by observable inputs such as discount rates and equity returns. However, the fair value of the IUL embedded derivative is sensitive to non-performance risk, which is unobservable. The value of the liability increases with decreases in the discount rate and non-performance risk and decreases with increases in the discount rate and nonperformance risk. The value of the liability increases with increases in equity returns and the liability decreases with a decrease in equity returns.
The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the year ended December 31, 2014, for which the Company has used significant unobservable inputs (Level 3):
																																		Total
																																		Gains (losses)
					Total						Total																							included in
					Realized and Unrealized						Realized and Unrealized																							Earnings
					Gains						Losses																							related to
								Included in						Included in																				Instruments
								Other						Other												Transfers								still held at
		Beginning			Included in			Comprehensive			Included in			Comprehensive												in/out of						Ending		the Reporting
		Balance			Earnings			Income			Earnings			Income			Purchases		Sales			Issuances		Settlements		Level 3			Other			Balance		Date
		(Dollars In Thousands)
Assets:
Fixed maturity securities available-for-sale
Residential mortgage-backed securities		$	28		$	—		$	—		$	—		$	(1	)	$	—	$	(24	)	$	—	$	—	$	—		$	—		$	3	$	—
Commercial mortgage-backed securities		—			—			—			—			—			—		—			—		—		—			—			—		—
Other asset-backed securities		545,808			—			36,395			(248		)	(8,033		)	—		(10,064		)	—		—		—			103			563,961		—
U.S. government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
States, municipals, and political subdivisions		3,675			—			—			—			—			—		—			—		—		—			—			3,675		—
Other government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
Corporate bonds		1,549,940			1,183			67,955			(2		)	(33,553		)	139,029		(226,073		)	—		—		(162,236		)	(10,560		)	1,325,683		—
Total fixed maturity securities - available-for-sale		2,099,451			1,183			104,350			(250		)	(41,587		)	139,029		(236,161		)	—		—		(162,236		)	(10,457		)	1,893,322		—
Fixed maturity securities - trading
Residential mortgage-backed securities		—			11			—			—			—			842		—			—		—		(853		)	—			—		—
Commercial mortgage-backed securities		—			—			—			—			—			—		—			—		—		—			—			—		—
Other asset-backed securities		194,977			9,507			—			(5,508		)	—			—		(30,462		)	—		—		—			947			169,461		1,083
U.S. government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
States, municipals and political subdivisions		—			—			—			—			—			—		—			—		—		—			—			—		—
Other government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
Corporate bonds		29,199			1,294			—			(1,098		)	—			5,839		(10,770		)	—		—		4			276			24,744		(121		)
Total fixed maturity securities - trading		224,176			10,812			—			(6,606		)	—			6,681		(41,232		)	—		—		(849		)	1,223			194,205		962
Total fixed maturity securities		2,323,627			11,995			104,350			(6,856		)	(41,587		)	145,710		(277,393		)	—		—		(163,085		)	(9,234		)	2,087,527		962
Equity securities		67,979			—			1,192			—			(261		)	9,551		(1,119		)	—		—		(10,651		)				66,691		—
Other long-term investments(1)		98,886			4,979			—			(59,240		)	—			—		—			—		—		—			—			44,625		(54,261		)
Short-term investments		—			—			—			—			—			—		—			—		—		—			—			—		—
Total investments		2,490,492			16,974			105,542			(66,096		)	(41,848		)	155,261		(278,512		)	—		—		(173,736		)	(9,234		)	2,198,843		(53,299		)
Total assets measured at fair value on a recurring basis		$	2,490,492		$	16,974		$	105,542		$	(66,096	)	$	(41,848	)	$	155,261	$	(278,512	)	$	—	$	—	$	(173,736	)	$	(9,234	)	$	2,198,843	$	(53,299	)
Liabilities:
Annuity account balances(2)		$	107,000		$	—		$	—		$	(4,307	)	$	—		$	—	$	—		$	685	$	14,167	$	—		$	—		$	97,825	$	—
Other liabilities(1)		233,738			22,547			—			(295,152		)	—			—		—			—		—		—			—			506,343		(272,605		)
Total liabilities measured at fair value on a recurring basis		$	340,738		$	22,547		$	—		$	(299,459	)	$	—		$	—	$	—		$	685	$	14,167	$	—		$	—		$	604,168	$	(272,605	)
	-1		Represents certain freestanding and embedded derivatives.
	-2		Represents liabilities related to fixed indexed annuities.
For the year ended December 31, 2014, $31.0 million of securities were transferred into Level 3. This amount was transferred from Level 2. These transfers resulted from securities that were priced by independent pricing services or brokers in previous periods, using no significant unobservable inputs, but were priced internally using significant unobservable inputs where market observable inputs were no longer available as of December 31, 2014.
For the year ended December 31, 2014, $204.7 million of securities were transferred out of Level 3. This amount was transferred to Level 2. These transfers resulted from securities that were previously valued using an internal model that utilized significant unobservable inputs but were valued internally or by independent pricing services or brokers, utilizing no significant unobservable inputs. All transfers are recognized as of the end of the reporting period.
For the year ended December 31, 2014, there were no transfers from Level 2 to Level 1.
For the year ended December 31, 2014, there were no transfers from Level 1.
The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the year ended December 31, 2013, for which the Company has used significant unobservable inputs (Level 3):
																																		Total
																																		Gains (losses)
					Total						Total																							included in
					Realized and Unrealized						Realized and Unrealized																							Earnings
					Gains						Losses																							related to
								Included in						Included in																				Instruments
								Other						Other												Transfers								still held at
		Beginning			Included in			Comprehensive			Included in			Comprehensive												in/out of						Ending		the Reporting
		Balance			Earnings			Income			Earnings			Income			Purchases		Sales			Issuances		Settlements		Level 3			Other			Balance		Date
		(Dollars In Thousands)
Assets:
Fixed maturity securities available-for-sale
Residential mortgage-backed securities		$	4		$	—		$	1,310		$	—		$	(338	)	$	14,349	$	(23	)	$	—	$	—	$	(15,287	)	$	13		$	28	$	—
Commercial mortgage-backed securities		—			—						—			—			—		—			—		—		—						—		—
Other asset-backed securities		596,143			—			44,620						(58,937		)	24,931		(62,760		)	—		—		1,227			584			545,808		—
U.S. government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
States, municipals, and political subdivisions		4,275			—			—			—			—			—		(600		)	—		—		—			—			3,675		—
Other government-related securities		20,011			—			2			—			(3		)	—		(20,000		)	—		—		—			(10		)	—		—
Corporate bonds		167,892			116			8,310			—			(20,118		)	736,012		(67,431		)	—		—		726,760			(1,601		)	1,549,940		—
Total fixed maturity securities - available-for-sale		788,325			116			54,242			—			(79,396		)	775,292		(150,814		)	—		—		712,700			(1,014		)	2,099,451		—
Fixed maturity securities - trading		—			—			—			(1		)	—			1,582		(72		)	—		—		(1,494		)	(15		)	—		—
Residential mortgage-backed securities
Commercial mortgage-backed securities		—			—			—			—			—			—		—			—		—		—			—			—		—
Other asset-backed securities		70,535			8,785			—			(5,947		)	—			147,224		(29,344		)	—		—		2,210			1,514			194,977		3,588
U.S. government-related securities		—			—			—			—			—			—		—			—		—		—						—		—
States, municipals and political subdivisions		—			—			—			(123		)	—			3,500		—			—		—		(3,377		)	—			—		—
Other government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
Corporate bonds		115			1			—			(102		)	—			4,880		(17		)	—		—		24,312			10			29,199		(5		)
Total fixed maturity securities - trading		70,650			8,786			—			(6,173		)	—			157,186		(29,433		)	—		—		21,651			1,509			224,176		3,583
Total fixed maturity securities		858,975			8,902			54,242			(6,173		)	(79,396		)	932,478		(180,247		)	—		—		734,351			495			2,323,627		3,583
Equity securities		65,527			—			—			—			—			2,452		—			—		—					—			67,979		—
Other long-term investments(1)		48,655			100,441			—			(16,117		)	—			—		—			—		—		—			(34,093		)	98,886		84,324
Short-term investments		—			—			—			—			—			—		—			—		—		—			—			—		—
Total investments		973,157			109,343			54,242			(22,290		)	(79,396		)	934,930		(180,247		)	—		—		734,351			(33,598		)	2,490,492		87,907
Total assets measured at fair value on a recurring basis		$	973,157		$	109,343		$	54,242		$	(22,290	)	$	(79,396	)	$	934,930	$	(180,247	)	$	—	$	—	$	734,351		$	(33,598	)	$	2,490,492	$	87,907
Liabilities:
Annuity account balances(2)		$	129,468		$	—		$	—		$	(8,029	)	$	—		$	—	$	—		$	406	$	30,903	$	—		$	—		$	107,000	$	—
Other liabilities(1)		611,437			295,910			—			(52,716		)	—			—		—			—		—		—			134,505			233,738		242,411
Total liabilities measured at fair value on a recurring basis		$	740,905		$	295,910		$	—		$	(60,745	)	$	—		$	—	$	—		$	406	$	30,903	$	—		$	134,505		$	340,738	$	242,411
	-1		Represents certain freestanding and embedded derivatives.
	-2		Represents liabilities related to fixed indexed annuities.
For the year ended December 31, 2013, $771.6 million of securities were transferred into Level 3. This amount was transferred from Level 2. These transfers resulted from securities that were priced by independent pricing services or brokers in previous periods, using no significant unobservable inputs, but were priced internally using significant unobservable inputs where market observable inputs were no longer available as of December 31, 2013.
For the year ended December 31, 2013, $37.2 million of securities were transferred out of Level 3. This amount was transferred into Level 2. These transfers resulted from securities that were previously valued using an internal model that utilized significant unobservable inputs but were valued internally or by independent pricing services or brokers, utilizing no significant unobservable inputs. All transfers are recognized as of the end of the reporting period.
For the year ended December 31, 2013, there were no transfers from Level 2 to Level 1.
For the year ended December 31, 2013, there were no transfers from Level 1.
Total realized and unrealized gains (losses) on Level 3 assets and liabilities are primarily reported in either realized investment gains (losses) within the consolidated statements of income (loss) or other comprehensive income (loss) within shareowners’ equity based on the appropriate accounting treatment for the item.
Purchases, sales, issuances, and settlements, net, represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily relates to purchases and sales of fixed maturity securities and issuances and settlements of fixed indexed annuities.
The Company reviews the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3 at the beginning fair value for the reporting period in which the changes occur. The asset transfers in the table(s) above primarily related to positions moved from Level 3 to Level 2 as the Company determined that certain inputs were observable.
The amount of total gains (losses) for assets and liabilities still held as of the reporting date primarily represents changes in fair value of trading securities and certain derivatives that exist as of the reporting date and the change in fair value of fixed indexed annuities.
Estimated Fair Value of Financial Instruments
The carrying amounts and estimated fair values of the Company’s financial instruments as of the periods shown below are as follows:
				As of December 31,
				2014						2013
		Fair Value		Carrying						Carrying
		Level		Amounts			Fair Values			Amounts			Fair Values
		(Dollars In Thousands)
Assets:
Mortgage loans on real estate		3		$	5,133,780		$	5,524,059		$	5,493,492		$	5,956,133
Policy loans		3		1,758,237			1,758,237			1,815,744			1,815,744
Fixed maturities, held-to-maturity(1)		3		435,000			458,422			365,000			335,676
Liabilities:
Stable value product account balances		3		$	1,959,488		$	1,973,624		$	2,559,552		$	2,566,209
Annuity account balances		3		10,950,729			10,491,775			11,125,253			10,639,637
Debt:
Non-recourse funding obligations(2)		3		$	1,527,752		$	1,753,183		$	1,495,448		$	1,272,425
Except as noted below, fair values were estimated using quoted market prices.
	-1		Security purchased from unconsolidated subsidiary, Red Mountain LLC.
	-2		Of this carrying amount $435.0 million, fair value of $461.4 million, as of December 31, 2014, and $365.0 million, fair value of  $321.5 million, as of December 31, 2013, relates to non-recourse funding obligations issued by Golden Gate V.
Fair Value Measurements
Mortgage Loans on Real Estate
The Company estimates the fair value of mortgage loans using an internally developed model. This model includes inputs derived by the Company based on assumed discount rates relative to the Company’s current mortgage loan lending rate and an expected cash flow analysis based on a review of the mortgage loan terms. The model also contains the Company’s determined representative risk adjustment assumptions related to credit and liquidity risks.
Policy Loans
The Company believes the fair value of policy loans approximates book value. Policy loans are funds provided to policy holders in return for a claim on the policy. The funds provided are limited to the cash surrender value of the underlying policy. The nature of policy loans is to have a negligible default risk as the loans are fully collateralized by the value of the policy. Policy loans do not have a stated maturity and the balances and accrued interest are repaid either by the policyholder or with proceeds from the policy. Due to the collateralized nature of policy loans and unpredictable timing of repayments, the Company believes the fair value of policy loans approximates carrying value.
Fixed Maturities, Held-to-Maturity
The Company estimates the fair value of its fixed maturity, held-to-maturity using internal discounted cash flow models. The discount rates used in the model were based on a current market yield for similar financial instruments.
Stable Value Product and Annuity Account Balances
The Company estimates the fair value of stable value product account balances and annuity account balances using models based on discounted expected cash flows. The discount rates used in the models were based on a current market rate for similar financial instruments.
Non-Recourse Funding Obligations
The Company estimates the fair value of its non-recourse funding obligations using internal discounted cash flow models. The discount rates used in the model were based on a current market yield for similar financial instruments.

DERIVATIVE_FINANCIAL_INSTRUMEN

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2014
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS
	23.DERIVATIVE FINANCIAL INSTRUMENTS
	Types of Derivative Instruments and Derivative Strategies
	The Company utilizes a risk management strategy that incorporates the use of derivative financial instruments to reduce exposure to certain risks, including but not limited to, interest rate risk, inflation risk, currency exchange risk, volatility risk, and equity market risk. These strategies are developed through the Company’s analysis of data from financial simulation models and other internal and industry sources, and are then incorporated into the Company’s risk management program.
	Derivative instruments expose the Company to credit and market risk and could result in material changes from period to period. The Company attempts to minimize its credit risk by entering into transactions with highly rated counterparties. The Company manages the market risk by establishing and monitoring limits as to the types and degrees of risk that may be undertaken. The Company monitors its use of derivatives in connection with its overall asset/liability management programs and risk management strategies. In addition, all derivative programs are monitored by our risk management department.
	Derivatives Related to Interest Rate Risk Management
	Derivative instruments that are used as part of the Company’s interest rate risk management strategy include interest rate swaps, interest rate futures, interest rate caps, and interest rate swaptions. The Company’s inflation risk management strategy involves the use of swaps that requires the Company to pay a fixed rate and receive a floating rate that is based on changes in the Consumer Price Index (“CPI”).
	Derivatives Related to Risk Mitigation of Variable Annuity Contracts
	The Company may use the following types of derivative contracts to mitigate its exposure to certain guaranteed benefits related to VA contracts and fixed indexed annuities:
		· Foreign Currency Futures
		· Variance Swaps
		· Interest Rate Futures
		· Equity Options
		· Equity Futures
		· Credit Derivatives
		· Interest Rate Swaps
		· Interest Rate Swaptions
		· Volatility Futures
		· Volatility Options
		· Funds Withheld Agreement
		· Total Return Swaps
	Other Derivatives
	The Company and certain of its subsidiaries have derivatives with PLC. These derivatives consist of an interest support agreement, a YRT premium support agreement, and portfolio maintenance agreements with PLC.
	The Company has a funds withheld account that consists of various derivative instruments held by us that is used to hedge the GMWB and GMDB riders. The economic performance of derivatives in the funds withheld account is ceded to Shades Creek. The funds withheld account is accounted for as a derivative financial instrument.
	Accounting for Derivative Instruments
	The Company records its derivative financial instruments in the consolidated condensed balance sheet in “other long-term investments” and “other liabilities” in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in other comprehensive income (loss), depending upon whether it qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists.
	For a derivative financial instrument to be accounted for as an accounting hedge, it must be identified and documented as such on the date of designation. For cash flow hedges, the effective portion of their realized gain or loss is reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain attributable to the hedged risk of the hedged item is recognized in current earnings. Effectiveness of the Company’s hedge relationships is assessed on a quarterly basis.
	The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship through earnings in the period of change. Changes in the fair value of derivatives that are recognized in current earnings are reported in “Realized investment gains (losses) - Derivative financial instruments”.
	Derivative Instruments Designated and Qualifying as Hedging Instruments
	Cash-Flow Hedges
		·		In connection with the issuance of inflation-adjusted funding agreements, the Company has entered into swaps to essentially convert the floating CPI-linked interest rate on these agreements to a fixed rate. The Company pays a fixed rate on the swap and receives a floating rate primarily determined by the period’s change in the CPI. The amounts that are received on the swaps are almost equal to the amounts that are paid on the agreements.
	Derivative Instruments Not Designated and Not Qualifying as Hedging Instruments
	The Company uses various other derivative instruments for risk management purposes that do not qualify for hedge accounting treatment. Changes in the fair value of these derivatives are recognized in earnings during the period of change.
	Derivatives Related to Variable Annuity Contracts
		·		The Company uses equity, interest rate, currency, and volatility futures to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products. In general, the cost of such benefits varies with the level of equity and interest rate markets, foreign currency levels, and overall volatility. No volatility future positions were held as of December 31, 2014.
		·		The Company uses equity options, volatility swaps, and volatility options to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products. In general, the cost of such benefits varies with the level of equity markets and overall volatility. No volatility option positions were held as of December 31, 2014.
		·		The Company uses interest rate swaps and interest rate swaptions to mitigate the risk related to certain guaranteed minimum benefits, including GMWB, within its VA products.
		·		The Company markets certain VA products with a GMWB rider. The GMWB component is considered an embedded derivative, not considered to be clearly and closely related to the host contract.
		·		The Company has a funds withheld account that consists of various derivative instruments held by the Company that are used to hedge the GMWB and GMDB riders. The economic performance of derivatives in the funds withheld account is ceded to Shades Creek. The funds withheld account is accounted for as a derivative financial instrument.
	Derivatives Related to Fixed Annuity Contracts
		·		The Company uses equity and volatility futures to mitigate the risk within its fixed indexed annuity products. In general, the cost of such benefits varies with the level of equity and overall volatility.
		·		The Company uses equity options to mitigate the risk within its fixed indexed annuity products. In general, the cost of such benefits varies with the level of equity markets.
		·		The Company markets certain fixed indexed annuity products. The FIA component is considered an embedded derivative, not considered to be clearly and closely related to the host contract.
	Derivatives Related to Indexed Universal Life Contracts
		·		The Company uses equity futures and options to mitigate the risk within its IUL contracts. In general, the cost of such benefits varies with the level of equity markets.
		·		The Company markets certain IUL products. The IUL component is considered an embedded derivative, not considered to be clearly and closely related to the host contract.
	Other Derivatives
		·		The Company uses certain interest rate swaps to mitigate the price volatility of fixed maturities.  None of these positions were held as of December 31, 2014.
		·		The Company and certain of its subsidiaries have an interest support agreement, YRT premium support agreement, and two portfolio maintenance agreements with PLC.
		·		The Company uses various swaps and other types of derivatives to manage risk related to other exposures.
		·		The Company is involved in various modified coinsurance which contain embedded derivatives. Changes in their fair value are recorded in current period earnings. The investment portfolios that support the related modified coinsurance reserves had fair value changes which substantially offset the gains or losses on these embedded derivatives.
	The following table sets forth realized investments gains and losses for the periods shown:
	Realized investment gains (losses) - derivative financial instruments
			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Derivatives related to variable annuity contracts:
	Interest rate futures - VA		$	27,801		$	(31,216	)	$	21,138
	Equity futures - VA		(26,104		)	(52,640		)	(50,797		)
	Currency futures - VA		14,433			(469		)	(2,763		)
	Volatility futures - VA		—			—			(132		)
	Variance swaps - VA		(744		)	(11,310		)	(11,792		)
	Equity options - VA		(41,216		)	(95,022		)	(37,370		)
	Volatility options- VA		—			(115		)	—
Interest rate swaptions - VA		(22,280		)	1,575			(2,260		)
Interest rate swaps - VA		214,164			(157,408		)	3,264
Embedded derivative - GMWB		(119,844		)	162,737			(22,120		)
Funds withheld derivative		47,792			71,862			—
Total derivatives related to variable annuity contracts		94,002			(112,006		)	(102,832		)
Derivatives related to FIA contracts:
Embedded derivative- FIA		(16,932		)	(942		)	—
Equity futures- FIA		870			173			—
Volatility futures- FIA		20			(5		)	—
Equity options- FIA		9,906			1,866			—
Total derivatives related to FIA contracts		(6,136		)	1,092			—
Derivatives related to IUL contracts:
Embedded derivative- IUL		(8		)	—			—
Equity futures - IUL		15			—			—
Equity options - IUL		150			—			—
Total derivatives related to IUL contracts		157			—			—
Embedded derivative - Modco reinsurance treaties		(105,276		)	205,176			(132,816		)
Interest rate swaps		—			2,985			(87		)
Interest rate caps		—			—			(2,666		)
Derivatives with PLC(1)		4,085			(15,072		)	10,664
Other derivatives		(324		)	(14		)	(79		)
Total realized gains (losses) - derivatives		$	(13,492	)	$	82,161		$	(227,816	)
	-1		These derivatives include an interest support, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.
The following table sets forth realized investments gains and losses for the Modco trading portfolio that is included in realized investment gains (losses) — all other investments:
Realized investment gains (losses) - all other investments
		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
Modco trading portfolio(1)		$	142,016		$	(178,134	)	$	177,986
(1) The Company elected to include the use of alternate disclosures for trading activities.
The following tables present the components of the gain or loss on derivatives that qualify as a cash flow hedging relationship:
Gain (Loss) on Derivatives in Cash Flow Relationship
					Amount and Location of
					Gains (Losses)
					Reclassified from			Amount and Location of
		Amount of Gains (Losses)			Accumulated Other			(Losses) Recognized in
		Deferred in			Comprehensive Income			Income (Loss) on
		Accumulated Other			(Loss) into Income (Loss)			Derivatives
		Comprehensive Income			(Effective Portion)			(Ineffective Portion)
		(Loss) on Derivatives			Benefits and settlement			Realized investment
		(Effective Portion)			expenses			gains (losses)
		(Dollars In Thousands)
For The Year Ended December 31, 2014
Inflation		$	(4	)	$	(1,777	)	$	(223	)
Total		$	(4	)	$	(1,777	)	$	(223	)
For The Year Ended December 31, 2013
Inflation		1,130			$	(2,349	)	$	(190	)
Total		$	1,130		$	(2,349	)	$	(190	)
The table below presents information about the nature and accounting treatment of the Company’s primary derivative financial instruments and the location in and effect on the consolidated financial statements for the periods presented below:
		As of December 31,
		2014						2013
		Notional			Fair			Notional			Fair
		Amount			Value			Amount			Value
		(Dollars In Thousands)
Other long-term investments
Derivatives not designated as hedging instruments:
Interest rate swaps		$	1,550,000		$	50,743		$	200,000		$	1,961
Derivatives with PLC(1)		1,497,010			6,077			1,464,164			1,993
Embedded derivative - Modco reinsurance treaties		25,760			1,051			80,376			1,517
Embedded derivative - GMWB		1,302,895			37,497			1,921,443			95,376
Interest rate futures		27,977			938
Equity futures		26,483			427			3,387			111
Currency futures		197,648			2,384			14,338			321
Equity options		1,921,167			163,212			1,376,205			78,277
Interest rate swaptions		625,000			8,012			625,000			30,291
Other		242			360			425			473
		$	7,174,182		$	270,701		$	5,685,338		$	210,320
Other liabilities
Cash flow hedges:
Inflation		$	40,469		$	142		$	182,965		$	1,865
Derivatives not designated as hedging instruments:
Interest rate swaps		275,000			3,599			1,230,000			153,322
Variance swaps		—			—			1,500			1,744
Embedded derivative - Modco reinsurance treaties		2,562,848			311,727			2,578,590			206,918
Funds withheld derivative		1,233,424			57,305			991,568			34,251
Embedded derivative - GMWB		1,702,899			63,460			104,180			1,496
Embedded derivative- FIA		749,933			124,465			244,424			25,324
Embedded derivative- IUL		12,019			6,691			—			—
Interest rate futures		—			—			322,902			5,221
Equity futures		385,256			15,069			164,595			6,595
Currency futures		—			—			118,008			840
Equity options		699,295			47,077			257,065			17,558
Other		—			—			230			27
		$	7,661,143		$	629,535		$	6,196,027		$	455,161
	-1		These derivatives include an interest support, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.
Based on the expected cash flows of the underlying hedged items, the Company expects to reclassify $0.1 million out of accumulated other comprehensive income (loss) into earnings during the next twelve months.

OFFSETTING_OF_ASSETS_AND_LIABI

OFFSETTING OF ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2014
OFFSETTING OF ASSETS AND LIABILITIES
OFFSETTING OF ASSETS AND LIABILITIES
	24.OFFSETTING OF ASSETS AND LIABILITIES
	Certain of the Company’s derivative instruments are subject to enforceable master netting arrangements that provide for the net settlement of all derivative contracts between the Company and a counterparty in the event of default or upon the occurrence of certain termination events. Collateral support agreements associated with each master netting arrangement provide that the Company will receive or pledge financial collateral in the event either minimum thresholds, or in certain cases ratings levels, have been reached. Additionally, certain of the Company’s repurchase agreements provide for net settlement on termination of the agreement. Refer to Note 12,  Debt and Other Obligations for details of the Company’s repurchase agreement programs.
	The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2014:
							Net Amounts
					Gross		of Assets		Gross Amounts Not Offset
					Amounts		Presented in		in the Statement of
			Gross		Offset in the		the		Financial Position
			Amounts of		Statement of		Statement of				Cash
			Recognized		Financial		Financial		Financial		Collateral
			Assets		Position		Position		Instruments		Received		Net Amount
			(Dollars In Thousands)
	Offsetting of Derivative Assets
	Derivatives:
	Free-Standing derivatives		$	225,716	$	—	$	225,716	$	53,612	$	73,935	$	98,169
	Total derivatives, subject to a master netting arrangement or similar arrangement		225,716		—		225,716		53,612		73,935		98,169
	Derivatives not subject to a master netting arrangement or similar arrangement
	Embedded derivative - Modco reinsurance treaties		1,051		—		1,051		—		—		1,051
	Embedded derivative - GMWB		37,497		—		37,497		—		—		37,497
	Derivatives with PLC		6,077		—		6,077		—		—		6,077
	Other		360		—		360		—		—		360
	Total derivatives, not subject to a master netting arrangement or similar arrangement		44,985		—		44,985		—		—		44,985
	Total derivatives		270,701		—		270,701		53,612		73,935		143,154
	Total Assets		$	270,701	$	—	$	270,701	$	53,612	$	73,935	$	143,154
							Net Amounts
					Gross		of Liabilities		Gross Amounts Not Offset
					Amounts		Presented in		in the Statement of
			Gross		Offset in the		the		Financial Position
			Amounts of		Statement of		Statement of				Cash
			Recognized		Financial		Financial		Financial		Collateral
			Liabilities		Position		Position		Instruments		Paid		Net Amount
			(Dollars In Thousands)
	Offsetting of Derivative Liabilities
	Derivatives:
	Free-Standing derivatives		$	65,887	$	—	$	65,887	$	53,612	$	12,258	$	17
	Total derivatives, subject to a master netting arrangement or similar arrangement		65,887		—		65,887		53,612		12,258		17
	Derivatives not subject to a master netting arrangement or similar arrangement
	Embedded derivative - Modco reinsurance treaties		311,727		—		311,727		—		—		311,727
	Funds withheld derivative		57,305		—		57,305		—		—		57,305
	Embedded derivative - GMWB		63,460		—		63,460		—		—		63,460
	Embedded derivative - FIA		124,465		—		124,465		—		—		124,465
	Embedded derivative - IUL		6,691		—		6,691		—		—		6,691
	Total derivatives, not subject to a master netting arrangement or similar arrangement		563,648		—		563,648		—		—		563,648
	Total derivatives		629,535		—		629,535		53,612		12,258		563,665
	Repurchase agreements(1)		50,000		—		50,000		—		—		50,000
	Total Liabilities		$	679,535	$	—	$	679,535	$	53,612	$	12,258	$	613,665
		-1		Borrowings under repurchase agreements are for a term less than 90 days.
	The tables below present the derivative instruments by assets and liabilities for the Company as of December 31, 2013.
							Net Amounts
					Gross		of Assets		Gross Amounts Not Offset
					Amounts		Presented in		in the Statement of
			Gross		Offset in the		the		Financial Position
			Amounts of		Statement of		Statement of				Cash
			Recognized		Financial		Financial		Financial		Collateral
			Assets		Position		Position		Instruments		Received		Net Amount
			(Dollars In Thousands)
	Offsetting of Derivative Assets
	Derivatives:
	Free-Standing derivatives		$	110,983	$	—	$	110,983	$	52,487	$	10,700	$	47,796
	Embedded derivative - Modco reinsurance treaties		1,517		—		1,517		—		—		1,517
	Embedded derivative - GMWB		95,376		—		95,376		—		—		95,376
	Total derivatives, subject to a master netting arrangement or similar arrangement		207,876		—		207,876		52,487		10,700		144,689
	Total derivatives, not subject to a master netting arrangement or similar arrangement		2,444		—		2,444		—		—		2,444
	Total derivatives		210,320		—		210,320		52,487		10,700		147,133
Total Assets		$	210,320	$	—	$	210,320	$	52,487	$	10,700	$	147,133
						Net Amounts
				Gross		of Liabilities		Gross Amounts Not Offset
				Amounts		Presented in		in the Statement of
		Gross		Offset in the		the		Financial Position
		Amounts of		Statement of		Statement of				Cash
		Recognized		Financial		Financial		Financial		Collateral
		Liabilities		Position		Position		Instruments		Paid		Net Amount
		(Dollars In Thousands)
Offsetting of Derivative Liabilities
Derivatives:
Free-Standing derivatives		$	187,172	$	—	$	187,172	$	52,487	$	98,359	$	36,326
Embedded derivative - Modco reinsurance treaties		206,918		—		206,918		—		—		206,918
Funds withheld derivative		34,251		—		34,251		—		—		34,251
Embedded derivative - GMWB		1,496		—		1,496		—		—		1,496
Embedded derivative - FIA		25,324		—		25,324		—		—		25,324
Total derivatives, subject to a master netting arrangement or similar arrangement		455,161		—		455,161		52,487		98,359		304,315
Total derivatives, not subject to a master netting arrangement or similar arrangement		—		—		—		—		—		—
Total derivatives		455,161		—		455,161		52,487		98,359		304,315
Repurchase agreements(1)		350,000		—		350,000		—		—		350,000
Total Liabilities		$	805,161	$	—	$	805,161	$	52,487	$	98,359	$	654,315
	-1		Borrowings under repurchase agreements are for a term less than 90 days.

OPERATING_SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2014
OPERATING SEGMENTS
OPERATING SEGMENTS
	25.OPERATING SEGMENTS
	The Company has several operating segments each having a strategic focus. An operating segment is distinguished by products, channels of distribution, and/or other strategic distinctions. The Company periodically evaluates its operating segments, as prescribed in the ASC Segment Reporting Topic, and makes adjustments to its segment reporting as needed. A brief description of each segment follows.
		·		The Life Marketing segment markets fixed UL, IUL, VUL, BOLI, and level premium term insurance (“traditional”) products on a national basis primarily through networks of independent insurance agents and brokers, broker-dealers, financial institutions, and independent marketing organizations.
		·		The Acquisitions segment focuses on acquiring, converting, and servicing policies acquired from other companies. The segment’s primary focus is on life insurance policies and annuity products that were sold to individuals. The level of the segment’s acquisition activity is predicated upon many factors, including available capital, operating capacity, potential return on capital, and market dynamics. Policies acquired through the Acquisitions segment are typically blocks of business where no new policies are being marketed. Therefore earnings and account values are expected to decline as the result of lapses, deaths, and other terminations of coverage unless new acquisitions are made.
		·		The Annuities segment markets fixed and VA products. These products are primarily sold through broker-dealers, financial institutions, and independent agents and brokers.
		·		The Stable Value Products segment sells fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, money market funds, bank trust departments, and other institutional investors. The segment also issues funding agreements to the FHLB, and markets GICs to 401(k) and other qualified retirement savings plans.  Additionally, the Company has contracts outstanding pursuant to a funding agreement-backed notes program registered with the SEC which offered notes to both institutional and retail investors.
		·		The Asset Protection segment markets extended service contracts and credit life and disability insurance to protect consumers’ investments in automobiles and recreational vehicles. In addition, the segment markets a guaranteed asset protection (“GAP”) product. GAP coverage covers the difference between the loan pay-off amount and an asset’s actual cash value in the case of a total loss.
		·		The Corporate and Other segment primarily consists of net investment income not assigned to the segments above (including the impact of carrying liquidity) and expenses not attributable to the segments above. This segment includes earnings from several non-strategic or runoff lines of business, various investment-related transactions, the operations of several small subsidiaries, and the repurchase of non-recourse funding obligations.
	The Company uses the same accounting policies and procedures to measure segment operating income (loss) and assets as it uses to measure consolidated net income and assets. Segment operating income (loss) is income before income tax, excluding realized gains and losses on investments and derivatives net of the amortization related to DAC, VOBA, and benefits and settlement expenses. Operating earnings exclude changes in the GMWB embedded derivatives (excluding the portion attributed to economic cost), realized and unrealized gains (losses) on derivatives used to hedge the VA product, actual GMWB incurred claims and the related amortization of DAC attributed to each of these items.
	Segment operating income (loss) represents the basis on which the performance of the Company’s business is internally assessed by management. Premiums and policy fees, other income, benefits and settlement expenses, and amortization of DAC/VOBA are attributed directly to each operating segment. Net investment income is allocated based on directly related assets required for transacting the business of that segment. Realized investment gains (losses) and other operating expenses are allocated to the segments in a manner that most appropriately reflects the operations of that segment. During the year ended December 31, 2013, the Company began allocating realized gains and losses to certain of its segments to better reflect the economics of the investments supporting those segments. This change had no impact to segment operating income. Investments and other assets are allocated based on statutory policy liabilities net of associated statutory policy assets, while DAC/VOBA and goodwill are shown in the segments to which they are attributable.
	There were no significant intersegment transactions during the year ended December 31, 2014, 2013, and 2012.
	The following tables summarize financial information for the Company’s segments:
			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Revenues
	Life Marketing		$	1,421,795		$	1,324,409		$	1,233,654
	Acquisitions		1,720,179			1,186,579			1,064,295
	Annuities		785,176			569,004			610,489
	Stable Value Products		127,708			122,974			123,274
	Asset Protection		305,396			296,782			294,146
	Corporate and Other		103,953			104,922			130,202
	Total revenues		$	4,464,207		$	3,604,670		$	3,456,060
	Segment Operating Income (Loss)
	Life Marketing		$	116,875		$	106,812		$	102,114
	Acquisitions		254,021			154,003			171,060
	Annuities		204,015			166,278			117,778
	Stable Value Products		73,354			80,561			60,329
	Asset Protection		26,274			20,148			9,765
	Corporate and Other		(99,048		)	(74,620		)	1,119
	Total segment operating income		575,491			453,182			462,165
	Realized investment (losses) gains - investments(1)		151,035			(140,236		)	188,729
	Realized investment (losses) gains - derivatives		12,263			109,553			(191,315		)
	Income tax expense		(246,838		)	(130,897		)	(151,043		)
	Net income		$	491,951		$	291,602		$	308,536
	Investment gains (losses)(2)		$	198,027		$	(143,984	)	$	174,692
	Less: amortization related to DAC/VOBA and benefits and settlement expenses		46,992			(3,748		)	(14,037		)
	Realized investment gains (losses)- investments		$	151,035		$	(140,236	)	$	188,729
	Derivative gains (losses)(3)		$	(13,492	)	$	82,161		$	(227,816	)
	Less: VA GMWB economic cost		(25,755		)	(27,392		)	(36,501		)
	Realized investment gains (losses)- derivatives		$	12,263		$	109,553		$	(191,315	)
	Net investment income
	Life Marketing		$	553,006		$	521,219		$	486,374
	Acquisitions		874,653			617,298			550,334
	Annuities		465,849			468,329			504,342
	Stable Value Products		107,170			123,798			128,239
	Asset Protection		18,830			19,046			19,698
	Corporate and Other		78,505			86,498			100,351
	Total net investment income		$	2,098,013		$	1,836,188		$	1,789,338
	Amortization of DAC and VOBA
	Life Marketing		$	175,807		$	25,774		$	45,079
	Acquisitions		60,031			72,762			77,251
	Annuities		47,448			31,498			45,319
	Stable Value Products		380			398			947
	Asset Protection		24,169			23,603			22,569
	Corporate and Other		485			625			1,018
	Total amortization of DAC and VOBA		$	308,320		$	154,660		$	192,183
		-1		Includes credit related other-than-temporary impairments of $7.3 million, $22.4 million, and $58.1 million for the year ended December 31, 2014, 2013, and 2012, respectively.
		-2		Includes realized investment gains (losses) before related amortization.
		-3		Includes realized gains (losses) on derivatives before the VA GMWB economic cost.
			Operating Segment Assets
			As of December 31, 2014
			(Dollars In Thousands)
		Life									Stable Value
		Marketing			Acquisitions			Annuities			Products
Investments and other assets		$	13,858,491		$	19,858,284		$	20,678,948		$	1,958,867
Deferred policy acquisition costs and value of business acquired		1,973,156			600,482			539,965			621
Goodwill		—			29,419			—			—
Total assets		$	15,831,647		$	20,488,185		$	21,218,913		$	1,959,488
		Asset			Corporate						Total
		Protection			and Other			Adjustments			Consolidated
Investments and other assets		$	832,887		$	9,557,226		$	14,792		$	66,759,495
Deferred policy acquisition costs and value of business acquired		40,503			319			—			3,155,046
Goodwill		48,158			—			—			77,577
Total assets		$	921,548		$	9,557,545		$	14,792		$	69,992,118
		Operating Segment Assets
		As of December 31, 2013
		(Dollars In Thousands)
		Life									Stable Value
		Marketing			Acquisitions			Annuities			Products
Investments and other assets		$	13,135,914		$	20,188,321		$	20,029,310		$	2,558,551
Deferred policy acquisition costs and value of business acquired		2,071,470			799,255			554,974			1,001
Goodwill		—			32,517			—			—
Total assets		$	15,207,384		$	21,020,093		$	20,584,284		$	2,559,552
		Asset			Corporate						Total
		Protection			and Other			Adjustments			Consolidated
Investments and other assets		$	777,387		$	8,006,256		$	16,762		$	64,712,501
Deferred policy acquisition costs and value of business acquired		49,276			646			—			3,476,622
Goodwill		48,158			—			—			80,675
Total assets		$	874,821		$	8,006,902		$	16,762		$	68,269,798

CONSOLIDATED_QUARTERLY_RESULTS

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED	12 Months Ended
	Dec. 31, 2014
CONSOLIDATED QUARTERLY RESULTS - UNAUDITED
CONSOLIDATED QUARTERLY RESULTS - UNAUDITED
	26.CONSOLIDATED QUARTERLY RESULTS — UNAUDITED
	The Company’s unaudited consolidated quarterly operating data for the year ended December 31, 2014 and 2013 is presented below. In the opinion of management, all adjustments (consisting only of normal recurring items) necessary for a fair statement of quarterly results have been reflected in the following data. It is also management’s opinion, however, that quarterly operating data for insurance enterprises are not necessarily indicative of results that may be expected in succeeding quarters or years. In order to obtain a more accurate indication of performance, there should be a review of operating results, changes in shareowners’ equity, and cash flows for a period of several quarters.
		First			Second			Third			Fourth
		Quarter			Quarter			Quarter			Quarter
		(Dollars In Thousands)
	2014
	Premiums and policy fees	$	812,323		$	848,183		$	755,300		$	867,263
	Reinsurance ceded	(333,506		)	(348,255		)	(283,104		)	(430,878		)
	Net of reinsurance ceded	478,817			499,928			472,196			436,385
	Net investment income	514,037			525,576			532,861			525,539
	Realized investment gains (losses)	30,981			42,386			39,299			71,869
	Other income	65,514			71,296			72,404			85,119
	Total revenues	1,089,349			1,139,186			1,116,760			1,118,912
	Total benefits and expenses	937,738			966,571			932,640			888,469
	Income before income tax	151,611			172,615			184,120			230,443
	Income tax expense	49,062			56,572			62,287			78,917
	Net income	$	102,549		$	116,043		$	121,833		$	151,526
	2013
	Premiums and policy fees	$	723,200		$	752,752		$	653,664		$	837,706
	Reinsurance ceded	(325,840		)	(396,777		)	(277,628		)	(387,192		)
	Net of reinsurance ceded	397,360			355,975			376,036			450,514
	Net investment income	439,012			447,064			434,772			515,340
	Realized investment gains (losses)	(5,223		)	(47,636		)	4,263			(13,227		)
	Other income	54,434			60,638			65,523			69,825
	Total revenues	885,583			816,041			880,594			1,022,452
	Total benefits and expenses	775,769			737,114			767,239			902,049
	Income before income tax	109,814			78,927			113,355			120,403
	Income tax expense	35,936			25,923			37,107			31,931
	Net income	$	73,878		$	53,004		$	76,248		$	88,472

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2014
SUBSEQUENT EVENTS.
SUBSEQUENT EVENTS
	27.SUBSEQUENT EVENTS
	On February 1, 2015, PLC announced the completion of the acquisition of PLC by Dai-ichi Life in accordance with the terms of the previously announced Agreement and Plan of Merger dated June 3, 2014, among PLC, Dai-ichi Life, and DL Investment (Delaware), Inc., a wholly owned subsidiary of Dai-ichi Life. As a result of the merger, each outstanding share of common stock of PLC was converted into the right to receive the Per Share Merger Consideration in cash, and PLC has become a wholly owned subsidiary of Dai-ichi Life, see also Note 5, Dai-ichi Merger. PLC’s common stock has ceased trading, and was delisted from the New York Stock Exchange on February 13, 2015.
	The Company has evaluated the effects of events subsequent to December 31, 2014, and through the date we filed our consolidated financial statements with the United States Securities and Exchange Commission. All accounting and disclosure requirements related to subsequent events are included in our consolidated financial statements.

SCHEDULE_III_SUPPLEMENTARY_INS

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2014
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION
	SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION
	PROTECTIVE LIFE CORPORATION AND SUBSIDIARIES
																	Amortization
			Deferred						Stable Value								of Deferred
			Policy						Products,								Policy
			Acquisition						Annuity								Acquisitions
			Costs and						Contracts and		Net				Benefits		Costs and
			Value of		Future Policy				Other		Premiums		Net		and		Value of		Other
			Businesses		Benefits and		Unearned		Policyholders’		and Policy		Investment		Settlement		Businesses		Operating		Premiums
	Segment		Acquired		Claims		Premiums		Funds		Fees		Income(1)		Expenses		Acquired		Expenses(1)		Written(2)
			(Dollars In Thousands)
	For The Year Ended December 31, 2014:
	Life Marketing		$	1,973,156	$	14,077,360	$	772,880	$	349,698	$	854,186	$	553,006	$	1,075,386	$	175,807	$	47,688	$	151
	Acquisitions		600,482		14,740,562		3,473		4,770,181		772,020		874,653		1,247,836		60,031		122,349		35,857
	Annuities		539,965		1,015,928		120,850		7,190,908		75,446		465,849		314,488		47,448		115,643		—
	Stable Value Products		621		—		—		1,959,488		—		107,170		35,559		380		1,413		—
	Asset Protection		40,503		46,963		616,908		—		169,212		18,830		93,193		24,169		161,760		160,948
	Corporate and Other		319		63,664		890		70,267		16,462		78,505		20,001		485		181,782		16,388
	Total		$	3,155,046	$	29,944,477	$	1,515,001	$	14,340,542	$	1,887,326	$	2,098,013	$	2,786,463	$	308,320	$	630,635	$	213,344
	For The Year Ended December 31, 2013:
	Life Marketing		$	2,071,470	$	13,504,869	$	812,929	$	311,290	$	796,109	$	521,219	$	1,143,132	$	25,774	$	46,263	$	173
	Acquisitions		799,255		15,112,574		4,680		4,734,487		519,477		617,298		851,386		72,762		78,244		24,781
	Annuities		554,974		1,037,348		102,734		7,228,119		80,343		468,329		318,173		31,498		110,266		—
	Stable Value Products		1,001		—		—		2,559,552		—		123,798		41,793		398		1,805		—
	Asset Protection		49,276		49,362		578,755		1,556		165,807		19,046		97,174		23,603		155,857		157,629
	Corporate and Other		646		67,805		1,296		64,181		18,149		86,498		22,330		625		161,088		18,141
	Total		$	3,476,622	$	29,771,958	$	1,500,394	$	14,899,185	$	1,579,885	$	1,836,188	$	2,473,988	$	154,660	$	553,523	$	200,724
	For The Year Ended December 31, 2012:
	Life Marketing		$	2,001,708	$	12,733,602	$	698,862	$	277,919	$	743,361	$	486,374	$	1,054,645	$	45,079	$	31,816	$	161
	Acquisitions		679,746		7,666,423		8,367		3,514,838		459,835		550,334		716,893		77,251		51,714		29,874
	Annuities		491,184		1,102,577		103,316		7,372,471		97,902		504,342		369,622		45,319		100,848		—
	Stable Value Products		1,399		—		—		2,510,559		—		128,239		64,790		947		2,174		—
	Asset Protection		50,253		51,279		540,766		1,790		168,656		19,698		91,778		22,569		170,034		159,927
	Corporate and Other		1,066		72,184		1,561		58,430		19,539		100,351		19,393		1,018		130,591		19,456
	Total		$	3,225,356	$	21,626,065	$	1,352,872	$	13,736,007	$	1,489,293	$	1,789,338	$	2,317,121	$	192,183	$	487,177	$	209,418
		-1		Allocations of Net Investment Income and Other Operating Expenses are based on a number of assumptions and estimates and results would change if different methods were applied.
		-2		Excludes Life Insurance

SCHEDULE_IV_REINSURANCE

SCHEDULE IV - REINSURANCE	12 Months Ended
	Dec. 31, 2014
SCHEDULE IV - REINSURANCE
SCHEDULE IV - REINSURANCE
	SCHEDULE IV - REINSURANCE
	PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES
							Assumed					Percentage of
					Ceded to		from					Amount
			Gross		Other		Other		Net			Assumed to
			Amount		Companies		Companies		Amount			Net
			(Dollars In Thousands)
	For The Year Ended December 31, 2014:
	Life insurance in-force		$	721,036,332	$	388,890,060	$	43,237,358	$	375,383,630		11.5	%
	Premiums and policy fees:
	Life insurance		2,603,956		1,279,908		349,934		1,673,982		-1	20.9
	Accident/health insurance		81,037		42,741		20,804		59,100			35.2
	Property and liability insurance		218,663		73,094		8,675		154,244			5.6
	Total		$	2,903,656	$	1,395,743	$	379,413	$	1,887,326
	For The Year Ended December 31, 2013:
	Life insurance in-force		$	726,697,151	$	416,809,287	$	46,752,176	$	356,640,040		13.1	%
	Premiums and policy fees:
	Life insurance		2,371,871		1,299,631		306,921		1,379,161		-1	22.3
	Accident/health insurance		45,262		20,011		24,291		49,542			49.0
	Property and liability insurance		211,000		67,795		7,977		151,182			5.3
	Total		$	2,628,133	$	1,387,437	$	339,189	$	1,579,885
	For The Year Ended December 31, 2012:
	Life insurance in-force		$	706,415,969	$	444,950,866	$	30,470,432	$	291,935,535		10.4	%
	Premiums and policy fees:
	Life insurance		2,226,614		1,228,444		281,711		1,279,881		-1	22.0
	Accident/health insurance		38,873		12,065		29,413		56,221			52.3
	Property and liability insurance		216,014		69,588		6,765		153,191			4.4
	Total		$	2,481,501	$	1,310,097	$	317,889	$	1,489,293
		-1		Includes annuity policy fees of $92.8 million, $88.7 million, and $103.8 million for the years ended December 31, 2014, 2013, and 2012, respectively.

SCHEDULE_V_VALUATION_AND_QUALI

SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2014
SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS
	SCHEDULE V — VALUATION AND QUALIFYING ACCOUNTS
	PROTECTIVE LIFE INSURANCE COMPANY AND SUBSIDIARIES
				Additions
		Balance		Charged to		Charges					Balance
		at beginning		costs and		to other					at end of
	Description	of period		expenses		accounts		Deductions			period
		(Dollars In Thousands)
	2014
	Allowance for losses on commercial mortgage loans	$	3,130	$	3,265	$	—	$	(675	)	$	5,720
	2013
	Allowance for losses on commercial mortgage loans	$	2,875	$	7,093	$	—	$	(6,838	)	$	3,130
	2012
	Allowance for losses on commercial mortgage loans	$	4,975	$	6,240	$	—	$	(8,340	)	$	2,875

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates. The most significant estimates include those used in determining deferred policy acquisition costs (“DAC”) and related amortization periods, goodwill recoverability, value of business acquired (“VOBA”), investment and certain derivatives fair values, other-than-temporary impairments, future policy benefits, pension and other postretirement benefits, provisions for income taxes, reserves for contingent liabilities, reinsurance risk transfer assessments, and reserves for losses in connection with unresolved legal matters.
Valuation of Investment Securities
	Valuation of Investment Securities
	The Company determines the appropriate classification of investment securities at the time of purchase and periodically re-evaluates such designations. Investment securities are classified as either trading, available-for-sale, or held-to-maturity securities. Investment securities classified as trading are recorded at fair value with changes in fair value recorded in realized gains (losses). Investment securities purchased for long term investment purposes are classified as available-for-sale and are recorded at fair value with changes in unrealized gains and losses, net of taxes, reported as a component of other comprehensive income (loss). Investment securities are classified as held-to-maturity when the Company has the intent and ability to hold the securities to maturity and are reported at amortized cost. Interest income on available-for-sale and held-to-maturity securities includes the amortization of premiums and accretion of discounts and are recorded in investment income.
	The fair value of fixed maturity, short-term, and equity securities is determined by management after considering one of three primary sources of information: third party pricing services, non-binding independent broker quotations, or pricing matrices. Security pricing is applied using a “waterfall” approach whereby publicly available prices are first sought from third party pricing services, the remaining unpriced securities are submitted to independent brokers for non-binding prices, or lastly, securities are priced using a pricing matrix. Typical inputs used by these three pricing methods include, but are not limited to: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Based on the typical trading volumes and the lack of quoted market prices for available-for-sale and trading fixed maturities, third party pricing services derive the majority of security prices from observable market inputs such as recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Certain securities are priced via independent non-binding broker quotations, which are considered to have no significant unobservable inputs. When using non- binding independent broker quotations, the Company obtains one quote per security, typically from the broker from which the Company purchased the security. A pricing matrix is used to price securities for which the Company is unable to obtain or effectively rely on either a price from a third party service or an independent broker quotation. Included in the pricing of other asset-backed securities, collateralized mortgage obligations (“CMOs”), and mortgage-backed securities (“MBS”) are estimates of the rate of future prepayments of principal and underlying collateral support over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and rates of prepayments previously experienced at the interest rate levels projected for the underlying collateral. The basis for the cost of securities sold was determined at the Committee on Uniform Securities Identification Procedures (“CUSIP”) level. The committee supplies a unique nine-character identification, called a CUSIP number, for each class of security approved for trading in the U.S., to facilitate clearing and settlement. These numbers are used when any buy and sell orders are recorded.
	Each quarter the Company reviews investments with unrealized losses and tests for other-than-temporary impairments. The Company analyzes various factors to determine if any specific other-than-temporary asset impairments exist. These include, but are not limited to: 1) actions taken by rating agencies, 2) default by the issuer, 3) the significance of the decline, 4) an assessment of the Company’s intent to sell the security (including a more likely than not assessment of whether the Company will be required to sell the security) before recovering the security’s amortized cost, 5) the duration of the decline, 6) an economic analysis of the issuer’s industry, and 7) the financial strength, liquidity, and recoverability of the issuer. Management performs a security by security review each quarter in evaluating the need for any other-than-temporary impairments. Although no set formula is used in this process, the investment performance, collateral position, and continued viability of the issuer are significant measures considered, and in some cases, an analysis regarding the Company’s expectations for recovery of the security’s entire amortized cost basis through the receipt of future cash flows is performed. Once a determination has been made that a specific other-than-temporary impairment exists, the security’s basis is adjusted and an other-than-temporary impairment is recognized. Equity securities that are other-than-temporarily impaired are written down to fair value with a realized loss recognized in earnings. Other-than- temporary impairments to debt securities that the Company does not intend to sell and does not expect to be required to sell before recovering the security’s amortized cost are written down to discounted expected future cash flows (“post impairment cost”) and credit losses are recorded in earnings. The difference between the securities’ discounted expected future cash flows and the fair value of the securities on the impairment date is recognized in other comprehensive income (loss) as a non-credit portion impairment. When calculating the post impairment cost for residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”), and other asset-backed securities (collectively referred to as asset-backed securities or “ABS”), the Company considers all known market data related to cash flows to estimate future cash flows. When calculating the post impairment cost for corporate debt securities, the Company considers all contractual cash flows to estimate expected future cash flows. To calculate the post impairment cost, the expected future cash flows are discounted at the original purchase yield. Debt securities that the Company intends to sell or expects to be required to sell before recovery are written down to fair value with the change recognized in earnings.
Cash
	Cash
	Cash includes all demand deposits reduced by the amount of outstanding checks and drafts. As a result of the Company’s cash management system, checks issued from a particular bank but not yet presented for payment may create negative book cash balances with the bank. Such negative balances are included in other liabilities and were immaterial as of December 31, 2014 and $41.3 million as of December 31, 2013, respectively. The Company has deposits with certain financial institutions which exceed federally insured limits. The Company has reviewed the creditworthiness of these financial institutions and believes there is minimal risk of a material loss.
Deferred Policy Acquisition Costs
	Deferred Policy Acquisition Costs
	The incremental direct costs associated with successfully acquired insurance policies, are deferred to the extent such costs are deemed recoverable from future profits. Such costs include commissions and other costs of acquiring traditional life and health insurance, credit insurance, universal life insurance, and investment products. DAC are subject to recoverability testing at the end of each accounting period. Traditional life and health insurance acquisition costs are amortized over the premium-payment period of the related policies in proportion to the ratio of annual premium income to the present value of the total anticipated premium income. Credit insurance acquisition costs are being amortized in proportion to earned premium. Acquisition costs for universal life and investment products are amortized over the lives of the policies in relation to the present value of estimated gross profits before amortization.
	The Company makes certain assumptions regarding the mortality, persistency, expenses, and interest rates (equal to the rate used to compute liabilities for future policy benefits, currently 1.0% to 6.65%) the Company expects to experience in future periods when determining the present value of estimated gross profits. These assumptions are best estimates and are periodically updated whenever actual experience and/or expectations for the future change from that assumed. Additionally, these costs have been adjusted by an amount equal to the amortization that would have been recorded if unrealized gains or losses on investments associated with our universal life and investment products had been realized. Acquisition costs for stable value contracts are amortized over the term of the contracts using the effective yield method.
Value of Businesses Acquired
	Value of Businesses Acquired
	In conjunction with the acquisition of a block of insurance policies or investment contracts, a portion of the purchase price is allocated to the right to receive future gross profits from cash flow and earnings of the acquired insurance policies or investment contracts. This intangible asset, called VOBA, represents the actuarially estimated present value of future cash flows from the acquired policies. The estimated present value of future cash flows used in the calculation of the VOBA is based on certain assumptions, including mortality, persistency, expenses, and interest rates that the Company expects to experience in future years. These assumptions are best estimates and are periodically updated whenever actual experience and/or expectations for the future change from that assumed. The Company amortizes VOBA in proportion to gross premiums for traditional life products, in proportion to expected gross profits (“EGPs”) for interest sensitive products, including accrued interest credited to account balances of up to approximately 8.75% and in proportion to estimated gross margin for policies within the Closed Block that was acquired as part of the MONY acquisition. VOBA is subject to annual recoverability testing.
Property and Equipment
	Property and Equipment
	The Company reports land, buildings, improvements, and equipment at cost, including interest capitalized during any acquisition or development period, less accumulated depreciation. The Company depreciates its assets using the straight-line method over the estimated useful lives of the assets. The Company’s home office building is depreciated over a thirty-nine year useful life, furniture is depreciated over a ten year useful life, office equipment and machines are depreciated over a five year useful life, and software and computers are depreciated over a three year useful life. Major repairs or improvements are capitalized and depreciated over the estimated useful lives of the assets. Other repairs are expensed as incurred. The cost and related accumulated depreciation of property and equipment sold or retired are removed from the accounts, and resulting gains or losses are included in income.
	Property and equipment consisted of the following:
			As of December 31,
			2014			2013
			(Dollars In Thousands)
	Home office building		$	75,109		$	74,313
	Data processing equipment		40,568			35,789
	Other, principally furniture and equipment		52,771			51,049
			168,448			161,151
	Accumulated depreciation		(116,688		)	(110,080		)
	Total property and equipment		$	51,760		$	51,071
Separate Accounts
	Separate Accounts
	The separate account assets represent funds for which the Company does not bear the investment risk. These assets are carried at fair value and are equal to the separate account liabilities, which represent the policyholder’s equity in those assets. The investment income and investment gains and losses on the separate account assets accrue directly to the policyholder. These amounts are reported separately as assets and liabilities related to separate accounts in the accompanying consolidated financial statements. Amounts assessed against policy account balances for the costs of insurance, policy administration, and other services are included in premiums and policy fees in the accompanying consolidated statements of income.
Stable Value Product Account Balances
	Stable Value Product Account Balances
	The Stable Value Products segment sells fixed and floating rate funding agreements directly to the trustees of municipal bond proceeds, money market funds, bank trust departments, and other institutional investors. The segment also issues funding agreements to the Federal Home Loan Bank (“FHLB”), and markets guaranteed investment contracts (“GICs”) to 401(k) and other qualified retirement savings plans. GICs are contracts which specify a return on deposits for a specified period and often provide flexibility for withdrawals at book value in keeping with the benefits provided by the plan. Additionally, the Company has contracts outstanding pursuant to a funding agreement-backed notes program registered with the United States Securities and Exchange Commission (the “SEC”) which offered notes to both institutional and retail investors.
	The segment’s products complement the Company’s overall asset/liability management in that the terms may be tailored to the needs of the Company as the seller of the contracts. Stable value product account balances include GICs and funding agreements the Company has issued. As of December 31, 2014 and 2013, the Company had $39.8 million and $0.2 billion, respectively, of stable value product account balances marketed through structured programs. Most GICs and funding agreements the Company has written have maturities of one to ten years.
	As of December 31, 2014, future maturities of stable value products were as follows:
	Year of Maturity		Amount
			(Dollars In Millions)
	2015		$	624.3
	2016-2017		791.4
	2018-2019		488.0
	Thereafter		55.8
Derivative Financial Instruments
	Derivative Financial Instruments
	The Company records its derivative financial instruments in the consolidated balance sheet in “other long-term investments” and “other liabilities” in accordance with GAAP, which requires that all derivative instruments be recognized in the balance sheet at fair value. The change in the fair value of derivative financial instruments is reported either in the statement of income or in the other comprehensive income (loss), depending upon whether the derivative instrument qualified for and also has been properly identified as being part of a hedging relationship, and also on the type of hedging relationship that exists. For cash flow hedges, the effective portion of their gain or loss is reported as a component of other comprehensive income (loss) and reclassified into earnings in the period during which the hedged item impacts earnings. Any remaining gain or loss, the ineffective portion, is recognized in current earnings. For fair value hedge derivatives, their gain or loss as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. Effectiveness of the Company’s hedge relationships is assessed on a quarterly basis. The Company reports changes in fair values of derivatives that are not part of a qualifying hedge relationship in earnings. Changes in the fair value of derivatives that are recognized in current earnings are reported in “Realized investment gains (losses) - Derivative financial instruments”. For additional information, see Note 23, Derivative Financial Instruments.
Insurance Liabilities and Reserves
	Insurance Liabilities and Reserves
	Establishing an adequate liability for the Company’s obligations to policyholders requires the use of certain assumptions. Estimating liabilities for future policy benefits on life and health insurance products requires the use of assumptions relative to future investment yields, mortality, morbidity, persistency, and other assumptions based on the Company’s historical experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Determining liabilities for the Company’s property and casualty insurance products also requires the use of assumptions, including the projected levels of used vehicle prices, the frequency and severity of claims, and the effectiveness of internal processes designed to reduce the level of claims. The Company’s results depend significantly upon the extent to which its actual claims experience is consistent with the assumptions the Company used in determining its reserves and pricing its products. The Company’s reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. The Company cannot determine with precision the ultimate amounts that it will pay for actual claims or the timing of those payments.
Guaranteed Minimum Withdrawal Benefits
	Guaranteed Minimum Withdrawal Benefits
	The Company also establishes reserves for guaranteed minimum withdrawal benefits (“GMWB”) on its variable annuity (“VA”) products. The GMWB is valued in accordance with FASB guidance under the ASC Derivatives and Hedging Topic which utilizes the valuation technique prescribed by the ASC Fair Value Measurements and Disclosures Topic, which requires the liability to be recorded at fair value using current implied volatilities for the equity indices. The methods used to estimate the liabilities employ assumptions about mortality, lapses, policyholder behavior, equity market returns, interest rates, and market volatility. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience, with attained age factors varying from 44.5% to 100%. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. The Company reinsures certain risks associated with the GMWB to Shades Creek Captive Insurance (“Shades Creek”), a direct wholly owned insurance subsidiary of PLC. As of December 31, 2014, the Company’s net GMWB liability held, including the impact of reinsurance was $25.9 million.
Goodwill
	Goodwill
	Accounting for goodwill requires an estimate of the future profitability of the associated lines of business to assess the recoverability of the capitalized acquisition goodwill. The Company evaluates the carrying value of goodwill at the segment (or reporting unit) level at least annually and between annual evaluations if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Such circumstances could include, but are not limited to: 1) a significant adverse change in legal factors or in business climate, 2) unanticipated competition, or 3) an adverse action or assessment by a regulator. When evaluating whether goodwill is impaired, the Company first determines through qualitative analysis whether relevant events and circumstances indicate that it is more likely than not that segment goodwill balances are impaired as of the testing date. If it is determined that it is more likely than not that impairment exists, the Company compares its estimate of the fair value of the reporting unit to which the goodwill is assigned to the reporting unit’s carrying amount, including goodwill. The Company utilizes a fair value measurement (which includes a discounted cash flows analysis) to assess the carrying value of the reporting units in consideration of the recoverability of the goodwill balance assigned to each reporting unit as of the measurement date. The Company’s material goodwill balances are attributable to certain of its operating segments (which are each considered to be reporting units). The cash flows used to determine the fair value of the Company’s reporting units are dependent on a number of significant assumptions. The Company’s estimates, which consider a market participant view of fair value, are subject to change given the inherent uncertainty in predicting future results and cash flows, which are impacted by such things as policyholder behavior, competitor pricing, capital limitations, new product introductions, and specific industry and market conditions. As of December 31, 2014, the Company performed its annual evaluation of goodwill and determined that no adjustment to impair goodwill was necessary. As of December 31, 2014, the Company had goodwill of $77.6 million.
Income Taxes
	Income Taxes
	The Company is included in the consolidated federal income tax return of PLC. The Company utilizes the asset and liability method of accounting for income taxes in accordance with FASB ASC Topic 740. The method of allocation of current income taxes between the affiliates is subject to a written agreement under which the Company incurs a liability to PLC to the extent that a separate return calculation indicates that the Company has a federal income tax liability. If the Company has an income tax benefit, the benefit is recorded currently to the extent it can be carried back against prior years’ separate company income tax expense. Any amount not carried back is carried forward on a separate company basis (generally without a time limit), and the tax benefit is reflected in future periods when the Company generates taxable income. Income taxes recoverable (payable) are recorded in income taxes receivable (payable), respectively, and are settled periodically, per the tax sharing agreement. In general, income tax provisions are based on the income reported for financial statement purposes. Deferred income taxes arise from the recognition of temporary differences between the basis of assets and liabilities determined for financial reporting purposes and the basis determined for income tax purposes. Such temporary differences are principally related to net unrealized gains (losses), deferred policy acquisition costs and value of business acquired, and future policy benefits and claims.
	The Company analyzes whether it needs to establish a valuation allowance on each of its deferred tax assets. In performing this analysis, the Company first considers the need for a valuation allowance on each separate deferred tax asset. Ultimately, it analyzes this need in the aggregate in order to prevent the double-counting of expected future taxable income in each of the foregoing separate analyses.
Variable Interest Entities
	Variable Interest Entities
	The Company holds certain investments in entities in which its ownership interests could possibly be considered variable interests under Topic 810 of the FASB ASC (excluding debt and equity securities held as trading, available-for-sale, or held-to-maturity). The Company reviews the characteristics of each of these applicable entities and compares those characteristics to applicable criteria to determine whether the entity is a Variable Interest Entity (“VIE”). If the entity is determined to be a VIE, the Company then performs a detailed review to determine whether the interest would be considered a variable interest under the guidance. The Company then performs a qualitative review of all variable interests with the entity and determines whether the Company is the primary beneficiary. ASC 810 provides that an entity is the primary beneficiary of a VIE if the entity has 1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and 2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. For more information on the Company’s investment in a VIE refer to Note 6, Investment Operations, to the consolidated financial statements.
Policyholder Liabilities, Revenues and Benefits Expense
	Policyholder Liabilities, Revenues, and Benefits Expense
	Traditional Life, Health, and Credit Insurance Products
	Traditional life insurance products consist principally of those products with fixed and guaranteed premiums and benefits, and they include whole life insurance policies, term and term-like life insurance policies, limited payment life insurance policies, and certain annuities with life contingencies. Traditional life insurance premiums are recognized as revenue when due. Health and credit insurance premiums are recognized as revenue over the terms of the policies. Benefits and expenses are associated with earned premiums so that profits are recognized over the life of the contracts.  This is accomplished by means of the provision for liabilities for future policy benefits and the amortization of DAC and VOBA. Gross premiums in excess of net premiums related to immediate annuities are deferred and recognized over the life of the policy.
	Liabilities for future policy benefits on traditional life insurance products have been computed using a net level method including assumptions as to investment yields, mortality, persistency, and other assumptions based on the Company’s experience, modified as necessary to reflect anticipated trends and to include provisions for possible adverse deviation. Reserve investment yield assumptions on December 31, 2014, range from approximately 2.0% to 7.5%. The liability for future policy benefits and claims on traditional life, health, and credit insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. Policy claims are charged to expense in the period in which the claims are incurred.
	Activity in the liability for unpaid claims for life and health insurance is summarized as follows:
			As of December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Balance beginning of year		$	334,450		$	326,633		$	312,799
	Less: reinsurance		117,502			155,341			161,450
	Net balance beginning of year		216,948			171,292			151,349
	Incurred related to:
	Current year		1,075,005			698,028			702,555
	Prior year		102,936			68,396			62,926
	Total incurred		1,177,941			766,424			765,481
	Paid related to:
	Current year		1,017,193			682,877			664,744
	Prior year		121,966			85,146			80,794
	Total paid		1,139,159			768,023			745,538
	Other changes:
	Acquisition and reserve transfers		—			47,255		-1	—
	Net balance end of year		255,730			216,948			171,292
	Add: reinsurance		163,671			117,502			155,341
	Balance end of year		$	419,401		$	334,450		$	326,633
		-1		This amount represents the net liability, before reinsurance, for unpaid claims as of December 31, 2013 for MONY Life Insurance Company. The claims activity from the acquisition date of October 1, 2013 through December 31, 2013 for MONY Life Insurance Company is not reflected in this chart.
	Universal Life and Investment Products
	Universal life and investment products include universal life insurance, guaranteed investment contracts, guaranteed funding agreements, deferred annuities, and annuities without life contingencies. Premiums and policy fees for universal life and investment products consist of fees that have been assessed against policy account balances for the costs of insurance, policy administration, and surrenders. Such fees are recognized when assessed and earned. Benefit reserves for universal life and investment products represent policy account balances before applicable surrender charges plus certain deferred policy initiation fees that are recognized in income over the term of the policies. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policy account balances and interest credited to policy account balances. Interest rates credited to universal life products ranged from 1.0% to 8.75% and investment products ranged from 0.2% to 10% in 2014.
	The Company establishes liabilities for fixed indexed annuity (“FIA”) products. These products are deferred fixed annuities with a guaranteed minimum interest rate plus a contingent return based on equity market performance. The FIA product is considered a hybrid financial instrument under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC” or “Codification”) Topic 815—Derivatives and Hedging which allows the Company to make the election to value the liabilities of these FIA products at fair value. This election was made for the FIA products issued prior to 2010 as the policies were issued. These products are no longer being marketed. The changes in the fair value of the liability for these FIA products are recorded in Benefit and settlement expenses with the liability being recorded in Annuity account balances. For more information regarding the determination of fair value of annuity account balances please refer to Note 22, Fair Value of Financial Instruments.  Premiums and policy fees for these FIA products consist of fees that have been assessed against the policy account balances for surrenders. Such fees are recognized when assessed and earned.
	During 2013, the Company began marketing a new FIA product. These products are also deferred fixed annuities with a guaranteed minimum interest rate plus a contingent return based on equity market performance and are considered hybrid financial instruments under the FASB’s ASC Topic 815—Derivatives and Hedging. The Company did not elect to value these FIA products at fair value. As a result the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities. Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses)—Derivative financial instruments. For more information regarding the determination of fair value of the FIA embedded derivative refer to Note 22, Fair Value of Financial Instruments. The host contract is accounted for as a debt instrument in accordance with ASC Topic 944—Financial Services—Insurance and is recorded in Annuity account balances with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period.
	During 2014, the Company began marketing a new indexed universal life (“IUL”) product. These products are universal life products with a guaranteed minimum interest rate plus a contingent return based on equity market performance and are considered hybrid financial instruments under the FASB’s ASC Topic 815—Derivatives and Hedging. The Company did not elect to value these IUL products at fair value. As a result the Company accounts for the provision that provides for a contingent return based on equity market performance as an embedded derivative. The embedded derivative is bifurcated from the host contract and recorded at fair value in Other liabilities. Changes in the fair value of the embedded derivative are recorded in Realized investment gains (losses)—Derivative financial instruments. For more information regarding the determination of fair value of the IUL embedded derivative refer to Note 22, Fair Value of Financial Instruments. The host contract is accounted for as a debt instrument in accordance with ASC Topic 944—Financial Services—Insurance and is recorded in Future policy benefits and claims with any discount to the minimum account value being accreted using the effective yield method. Benefits and settlement expenses include accreted interest and benefit claims incurred during the period.
	The Company’s accounting policies with respect to variable universal life (“VUL”) and VA are identical except that policy account balances (excluding account balances that earn a fixed rate) are valued at fair value and reported as components of assets and liabilities related to separate accounts.
	The Company establishes liabilities for guaranteed minimum death benefits (“GMDB”) on its VA products. The methods used to estimate the liabilities employ assumptions about mortality and the performance of equity markets. The Company assumes age-based mortality from the National Association of Insurance Commissioners 1994 Variable Annuity MGDB Mortality Table for company experience, with attained age factors varying from 49% - 80%. Future declines in the equity market would increase the Company’s GMDB liability. Differences between the actual experience and the assumptions used result in variances in profit and could result in losses. Our GMDB as of December 31, 2014, are subject to a dollar for dollar reduction upon withdrawal of related annuity deposits on contracts issued prior to January 1, 2003. The Company reinsures certain risks associated with the GMDB to Shades Creek. As of December 31, 2014, the GMDB reserve, including the impact of reinsurance was $21.7 million.
	Property and Casualty Insurance Products
	Property and casualty insurance products include service contract business, surety bonds, and guaranteed asset protection (“GAP). Premiums for service contracts and GAP products are recognized based on expected claim patterns. For all other products, premiums are generally recognized over the terms of the contract on a pro-rata basis. Fee income from providing administrative services is recognized as earned when the related services are performed. Unearned premium reserves are maintained for the portion of the premiums that is related to the unexpired period of the policy. Benefit reserves are recorded when insured events occur. Benefit reserves include case basis reserves for known but unpaid claims as of the balance sheet date as well as incurred but not reported (“IBNR”) reserves for claims where the insured event has occurred but has not been reported to the Company as of the balance sheet date. The case basis reserves and IBNR are calculated based on historical experience and on assumptions relating to claim severity and frequency, the level of used vehicle prices, and other factors. These assumptions are modified as necessary to reflect anticipated trends.
Reinsurance
	Reinsurance
	The Company uses reinsurance extensively in certain of its segments and accounts for reinsurance and the recognition of the impact of reinsurance costs in accordance with the ASC Financial Services—Insurance Topic. The following summarizes some of the key aspects of the Company’s accounting policies for reinsurance.
	Reinsurance Accounting Methodology—Ceded premiums of the Company’s traditional life insurance products are treated as an offset to direct premium and policy fee revenue and are recognized when due to the assuming company. Ceded claims are treated as an offset to direct benefits and settlement expenses and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as an offset to benefits and settlement expenses and are recognized during the applicable financial reporting period. Expense allowances paid by the assuming companies which are allocable to the current period are treated as an offset to other operating expenses. Since reinsurance treaties typically provide for allowance percentages that decrease over the lifetime of a policy, allowances in excess of the “ultimate” or final level allowance are capitalized. Amortization of capitalized reinsurance expense allowances representing recovery of acquisition costs is treated as an offset to direct amortization of DAC or VOBA. Amortization of deferred expense allowances is calculated as a level percentage of expected premiums in all durations given expected future lapses and mortality and accretion due to interest.
	The Company utilizes reinsurance on certain short duration insurance contracts (primarily issued through the Asset Protection segment). As part of these reinsurance transactions the Company receives reinsurance allowances which reimburse the Company for acquisition costs such as commissions and premium taxes. A ceding fee is also collected to cover other administrative costs and profits for the Company. As a component of reinsurance costs, reinsurance allowances are accounted for in accordance with the relevant provisions of ASC Financial Services—Insurance Topic, which state that reinsurance costs should be amortized over the contract period of the reinsurance if the contract is short-duration. Accordingly, reinsurance allowances received related to short-duration contracts are capitalized and charged to expense in proportion to premiums earned. Ceded unamortized acquisition costs are netted with direct unamortized acquisition costs in the balance sheet.
	Ceded premiums and policy fees on the Company’s fixed universal life (“UL”), VUL, bank-owned life insurance (“BOLI”), and annuity products reduce premiums and policy fees recognized by the Company. Ceded claims are treated as an offset to direct benefits and settlement expenses and are recognized when the claim is incurred on a direct basis. Ceded policy reserve changes are also treated as an offset to benefits and settlement expenses and are recognized during the applicable valuation period.
	Since reinsurance treaties typically provide for allowance percentages that decrease over the lifetime of a policy, allowances in excess of the “ultimate” or final level allowance are capitalized. Amortization of capitalized reinsurance expense allowances are amortized based on future expected gross profits. Assumptions regarding mortality, lapses, and interest rates are continuously reviewed and may be periodically changed. These changes will result in “unlocking” that changes the balance in the ceded deferred acquisition cost and can affect the amortization of DAC and VOBA. Ceded unearned revenue liabilities are also amortized based on expected gross profits. Assumptions are based on the best current estimate of expected mortality, lapses and interest spread.
	The Company has also assumed certain policy risks written by other insurance companies through reinsurance agreements. Premiums and policy fees as well as Benefits and settlement expenses include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Assumed reinsurance is accounted for in accordance with ASC Financial Services—Insurance Topic.
	Reinsurance Allowances—Long-Duration Contracts—Reinsurance allowances are intended to reimburse the ceding company for some portion of the ceding company’s commissions, expenses, and taxes. The amount and timing of reinsurance allowances (both first year and renewal allowances) are contractually determined by the applicable reinsurance contract and do not necessarily bear a relationship to the amount and incidence of expenses actually paid by the ceding company in any given year.
	Ultimate reinsurance allowances are defined as the lowest allowance percentage paid by the reinsurer in any policy duration over the lifetime of a universal life policy (or through the end of the level term period for a traditional life policy). Ultimate reinsurance allowances are determined during the negotiation of each reinsurance agreement and will differ between agreements.
	The Company determines its “cost of reinsurance” to include amounts paid to the reinsurer (ceded premiums) net of amounts reimbursed by the reinsurer (in the form of allowances). As noted within ASC Financial Services—Insurance Topic, “The difference, if any, between amounts paid for a reinsurance contract and the amount of the liabilities for policy benefits relating to the underlying reinsured contracts is part of the estimated cost to be amortized.” The Company’s policy is to amortize the cost of reinsurance over the life of the underlying reinsured contracts (for long-duration policies) in a manner consistent with the way in which benefits and expenses on the underlying contracts are recognized. For the Company’s long-duration contracts, it is the Company’s practice to defer reinsurance allowances as a component of the cost of reinsurance and recognize the portion related to the recovery of acquisition costs as a reduction of applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense in proportion to net revenue recognized. The remaining balance of reinsurance allowances are included as a component of the cost of reinsurance and those allowances which are allocable to the current period are recorded as an offset to operating expenses in the current period consistent with the recognition of benefits and expenses on the underlying reinsured contracts. This practice is consistent with the Company’s practice of capitalizing direct expenses (e.g. commissions), and results in the recognition of reinsurance allowances on a systematic basis over the life of the reinsured policies on a basis consistent with the way in which acquisition costs on the underlying reinsured contracts would be recognized. In some cases reinsurance allowances allocable to the current period may exceed non-deferred direct costs, which may cause net other operating expenses (related to specific contracts) to be negative.
	Amortization of Reinsurance Allowances—Reinsurance allowances do not affect the methodology used to amortize DAC and VOBA, or the period over which such DAC and VOBA are amortized. Reinsurance allowances offset the direct expenses capitalized, reducing the net amount that is capitalized. DAC and VOBA on traditional life policies are amortized based on the pattern of estimated gross premiums of the policies in force. Reinsurance allowances do not affect the gross premiums, so therefore they do not impact traditional life amortization patterns. DAC and VOBA on universal life products are amortized based on the pattern of estimated gross profits of the policies in force. Reinsurance allowances are considered in the determination of estimated gross profits, and therefore do impact amortization patterns.
	Reinsurance Assets and Liabilities—Claim liabilities and policy benefits are calculated consistently for all policies in accordance with GAAP, regardless of whether or not the policy is reinsured. Once the claim liabilities and policy benefits for the underlying policies are estimated, the amounts recoverable from the reinsurers are estimated based on a number of factors including the terms of the reinsurance contracts, historical payment patterns of reinsurance partners, and the financial strength and credit worthiness of reinsurance partners and recorded as Reinsurance receivables on the balance sheet. Liabilities for unpaid reinsurance claims are produced from claims and reinsurance system records, which contain the relevant terms of the individual reinsurance contracts. The Company monitors claims due from reinsurers to ensure that balances are settled on a timely basis. Incurred but not reported claims are reviewed by the Company’s actuarial staff to ensure that appropriate amounts are ceded.
	The Company analyzes and monitors the credit worthiness of each of its reinsurance partners to minimize collection issues. For newly executed reinsurance contracts with reinsurance companies that do not meet predetermined standards, the Company requires collateral such as assets held in trusts or letters of credit.
	Components of Reinsurance Cost—The following income statement lines are affected by reinsurance cost:
	Premiums and policy fees (“reinsurance ceded” on the Company’s financial statements) represent consideration paid to the assuming company for accepting the ceding company’s risks. Ceded premiums and policy fees increase reinsurance cost.
	Benefits and settlement expenses include incurred claim amounts ceded and changes in ceded policy reserves. Ceded benefits and settlement expenses decrease reinsurance cost.
	Amortization of deferred policy acquisition cost and VOBA reflects the amortization of capitalized reinsurance allowances representing recovery of acquisition costs. Ceded amortization decreases reinsurance cost.
	Other expenses include reinsurance allowances paid by assuming companies to the Company less amounts representing recovery of acquisition costs. Reinsurance allowances decrease reinsurance cost.
	The Company’s reinsurance programs do not materially impact the other income line of the Company’s income statement. In addition, net investment income generally has no direct impact on the Company’s reinsurance cost. However, it should be noted that by ceding business to the assuming companies, the Company forgoes investment income on the reserves ceded to the assuming companies. Conversely, the assuming companies will receive investment income on the reserves assumed which will increase the assuming companies’ profitability on business assumed from the Company.
Accounting Pronouncements Recently Adopted
	Accounting Pronouncements Not Yet Adopted
	Accounting Standards Update (“ASU”) No. 2014-08—Reporting Discontinued Operations and Disclosure of Disposals of Components of an Entity.  This Update changes the requirements for reporting discontinued operations and related disclosures. The Update limits the definition of a discontinued operation to disposals that represent “strategic shifts” that will have a major effect on an entity’s operation and financial results. Additionally, the Update requires enhanced disclosures about the components of discontinued operations and the financial effects of the disposal. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Company is reviewing the additional disclosures required by the Update, and will apply the revised guidance to any disposals occurring after the effective date.
	ASU No. 2014-09—Revenue from Contracts with Customers (Topic 606).  This Update provides for significant revisions to the recognition of revenue from contracts with customers across various industries. Under the new guidance, entities are required to apply a prescribed 5-step process to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The accounting for revenues associated with insurance products is not within the scope of this Update. The Update is effective for annual and interim periods beginning after December 15, 2016. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption.
	ASU No. 2014-11—Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.  This Update changes the requirements for classification of certain repurchase agreements, and will expand the use of secured borrowing accounting for repurchase-to-maturity transactions. In addition, the Update requires additional disclosures for repurchase agreements accounted for both as sales and as secured borrowings. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2014. The Update is not expected to impact the Company’s financial position or results of operations, and the Company has reviewed its policies and processes to ensure compliance with the additional disclosure requirements.
	ASU No. 2014-15—Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.  This Update will require management to assess an entity’s ability to continue as a going concern, and will require footnote disclosures in certain circumstances. Under the updated guidance, management should consider relevant conditions and evaluate whether it is probable that the entity will be unable to meet its obligations within one year after the issuance date of the financial statements. The Update is effective for annual periods ending December 31, 2016 and interim periods thereafter, with early adoption is permitted. The amendments in this Update will not impact the Company’s financial position or results of operations. However, the new guidance will require a formal assessment of going concern by management based on criteria prescribed in the new guidance. The Company is reviewing its policies and processes to ensure compliance with the new guidance.
	ASU No. 2014-17—Business Combinations (Topic 805).  This Update relates to “pushdown accounting”, which refers to pushing down the acquirer’s accounting and reporting basis (which is recognized in conjunction with its accounting for a business combination) to the acquiree’s standalone financial statements. The new guidance makes pushdown accounting optional for an acquiree that is a business or nonprofit activity when there is a change-in- control event (e.g., the acquirer in a business combination obtains control over the acquiree). In addition, the staff of the SEC released Staff Accounting Bulletin (“SAB”) No. 115, which rescinds SAB Topic 5J, “New Basis of Accounting Required in Certain Circumstances” (the SEC staff’s pre-existing guidance on pushdown accounting) and conforms SEC guidance on pushdown accounting to the FASB’s new guidance. The new pushdown accounting guidance became effective upon its issuance on November 18, 2014. Although now optional, the Company expects to apply pushdown accounting to its standalone financial statements effective with the Company becoming a wholly owned subsidiary of Dai-ichi Life on February 1, 2015.
	ASU No. 2015-02—Consolidation—Amendments to the Consolidation Analysis.  This Update makes several targeted changes to generally accepted accounting principles, including a) eliminating the presumption that a general partner should consolidate a limited partnership and b) eliminating the consolidation model specific to limited partnerships. The amendments also clarify when fees and related party relationships should be considered in the consolidation of variable interest entities. The amendments in this Update are effective for annual and interim periods beginning after December 15, 2015. The Company is reviewing its policies and processes to ensure compliance with the requirements in this Update, upon adoption.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of property and equipment
			As of December 31,
			2014			2013
			(Dollars In Thousands)
	Home office building		$	75,109		$	74,313
	Data processing equipment		40,568			35,789
	Other, principally furniture and equipment		52,771			51,049
			168,448			161,151
	Accumulated depreciation		(116,688		)	(110,080		)
	Total property and equipment		$	51,760		$	51,071
Schedule of future maturities of stable value products	Year of Maturity		Amount
			(Dollars In Millions)
	2015		$	624.3
	2016-2017		791.4
	2018-2019		488.0
	Thereafter		55.8
Summary of activity in the liability for unpaid claims for life and health insurance			As of December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Balance beginning of year		$	334,450		$	326,633		$	312,799
	Less: reinsurance		117,502			155,341			161,450
	Net balance beginning of year		216,948			171,292			151,349
	Incurred related to:
	Current year		1,075,005			698,028			702,555
	Prior year		102,936			68,396			62,926
	Total incurred		1,177,941			766,424			765,481
	Paid related to:
	Current year		1,017,193			682,877			664,744
	Prior year		121,966			85,146			80,794
	Total paid		1,139,159			768,023			745,538
	Other changes:
	Acquisition and reserve transfers		—			47,255		-1	—
	Net balance end of year		255,730			216,948			171,292
	Add: reinsurance		163,671			117,502			155,341
	Balance end of year		$	419,401		$	334,450		$	326,633
		-1		This amount represents the net liability, before reinsurance, for unpaid claims as of December 31, 2013 for MONY Life Insurance Company. The claims activity from the acquisition date of October 1, 2013 through December 31, 2013 for MONY Life Insurance Company is not reflected in this chart.

SIGNIFICANT_ACQUISITIONS_Table

SIGNIFICANT ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2014
SIGNIFICANT ACQUISITIONS
Summary of the consideration paid for the acquisition and the preliminary determination of the fair value of assets acquired and liabilities assumed at the acquisition date			Fair Value
			As of
			October 1, 2013
			(Dollars In Thousands)
	Assets
	Fixed maturities, at fair value		$	6,557,853
	Equity securities, at fair value		108,413
	Mortgage loans		830,415
	Policy loans		967,534
	Short-term investments		130,963
	Total investments		8,595,178
	Cash		216,164
	Accrued investment income		114,695
	Accounts and premiums receivable, net of allowance for uncollectible amounts		26,055
	Reinsurance receivables		422,692
	Value of business acquired		205,767
	Other assets		5,104
	Income tax receivable		21,197
	Deferred income taxes		188,142
	Separate account assets		195,452
	Total assets		$	9,990,446
	Liabilities
	Future policy benefits and claims		$	7,645,969
	Unearned premiums		3,066
	Total policy liabilities and accruals		7,649,035
	Annuity account balances		752,163
	Other policyholders’ funds		636,448
	Other liabilities		66,124
	Non-recourse funding obligation		2,548
	Separate account liabilities		195,344
	Total liabilities		9,301,662
	Net assets acquired		$	688,784
Schedule of pro forma consolidated condensed results of operations			Unaudited
			For The Year Ended
			December 31,
			2013			2012
			(Dollars In Thousands)
	Revenue		$	4,245,388	-1	$	4,330,935
	Net income		$	325,783	-2	$	365,204
		-1		Includes $203.8 million of revenue recognized in the Company’s net income for the year ended December 31, 2013.
		-2		Includes $27.9 million of pre-tax net income recognized by the Company for the year ended December 31, 2013.

MONY_CLOSED_BLOCK_OF_BUSINESS_

MONY CLOSED BLOCK OF BUSINESS (Tables)	12 Months Ended
	Dec. 31, 2014
MONY CLOSED BLOCK OF BUSINESS
Summary of financial information for the Closed Block		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Closed block liabilities
	Future policy benefits, policyholders’ account balances and other	$	6,138,505		$	6,261,819
	Policyholder dividend obligation	366,745			190,494
	Other liabilities	53,838			1,259
	Total closed block liabilities	6,559,088			6,453,572
	Closed block assets
	Fixed maturities, available-for-sale, at fair value	$	4,524,037		$	4,113,829
	Equity securities, available-for-sale, at fair value	5,387			5,223
	Mortgage loans on real estate	448,855			601,959
	Policy loans	771,120			802,013
	Cash and other invested assets	30,984			140,577
	Other assets	221,270			206,938
	Total closed block assets	6,001,653			5,870,539
	Excess of reported closed block liabilities over closed block assets	557,435			583,033
	Portion of above representing accumulated other comprehensive income:
	Net unrealized investments gains (losses) net of deferred tax benefit of $0 and $1,074 net of policyholder dividend obligation of $106,886 and $12,720	—			(1,994		)
	Future earnings to be recognized from closed block assets and closed block liabilities	$	557,435		581,039
Schedule of reconciliation of the policyholder dividend obligation		For The
		Year Ended
		December 31,
		2014			2013
		(Dollars In Thousands)
	Policyholder dividend obligation, beginning balance	$	190,494		$	213,350
	Applicable to net revenue (losses)	(910		)	(10,136		)
	Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation	177,161			(12,720		)
	Policyholder dividend obligation, end of period	$	366,745		$	190,494
Schedule of Closed Block revenues and expenses		For The Year Ended
		December 31,
		2014			2013
		(Dollars In Thousands)
	Revenues
	Premiums and other income	$	212,765		$	64,171
	Net investment income	239,028			51,141
	Net investment gains	10,528			9,252
	Total revenues	462,321			124,564
	Benefits and other deductions
	Benefits and settlement expenses	417,667			113,564
	Other operating expenses	674			548
	Total benefits and other deductions	418,341			114,112
	Net revenues before income taxes	43,980			10,452
	Income tax expense	20,377			3,658
	Net revenues	$	23,603		$	6,794

INVESTMENT_OPERATIONS_Tables

INVESTMENT OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2014
INVESTMENT OPERATIONS
Summary of major categories of net investment income			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Fixed maturities		$	1,711,722		$	1,508,924		$	1,453,018
	Equity securities		41,533			26,735			20,740
	Mortgage loans		360,778			333,093			349,845
	Investment real estate		4,483			3,555			3,289
	Short-term investments		109,592			72,433			62,887
			2,228,108			1,944,740			1,889,779
	Other investment expenses		130,095			108,552			100,441
	Net investment income		$	2,098,013		$	1,836,188		$	1,789,338
Summary of net realized investment gains (losses) for invested assets			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Fixed maturities		$	75,074		$	63,161		$	67,669
	Equity securities		495			3,276			(45		)
	Impairments on fixed maturity securities		(7,275		)	(19,100		)	(58,144		)
	Impairments on equity securities		—			(3,347		)	—
	Modco trading portfolio		142,016			(178,134		)	177,986
	Other investments		(12,283		)	(9,840		)	(12,774		)
	Total realized gains (losses) - investments		$	198,027		$	(143,984	)	$	174,692
Schedule of amortized cost and fair value of the Company's investments classified as available-for-sale						Gross			Gross						Total OTTI
			Amortized			Unrealized			Unrealized			Fair			Recognized
			Cost			Gains			Losses			Value			in OCI(1)
			(Dollars In Thousands)
	2014
	Fixed maturities:
	Bonds
	Residential mortgage-backed securities		$	1,374,141		$	56,381		$	(12,264	)	$	1,418,258		$	6,404
	Commercial mortgage-backed securities		1,119,979			59,637			(2,364		)	1,177,252			—
	Other asset-backed securities		857,365			17,961			(35,950		)	839,376			(95		)
	U.S. government-related securities		1,394,028			44,149			(9,282		)	1,428,895			—
	Other government-related securities		16,939			3,233			—			20,172			—
	States, municipals, and political subdivisions		1,391,526			296,594			(431		)	1,687,689			—
	Corporate bonds		24,744,050			2,760,703			(138,975		)	27,365,778			—
			30,898,028			3,238,658			(199,266		)	33,937,420			6,309
	Equity securities		713,813			35,646			(14,153		)	735,306			—
	Short-term investments		151,572			—			—			151,572			—
			$	31,763,413		$	3,274,304		$	(213,419	)	$	34,824,298		$	6,309
	2013
	Fixed maturities:
	Bonds
	Residential mortgage-backed securities		$	1,435,349		$	34,255		$	(24,536	)	$	1,445,068		$	979
	Commercial mortgage-backed securities		963,461			26,900			(19,705		)	970,656			—
	Other asset-backed securities		926,396			15,135			(69,548		)	871,983			(51		)
	U.S. government-related securities		1,529,818			32,150			(54,078		)	1,507,890			—
	Other government-related securities		49,171			2,257			(1		)	51,427			—
	States, municipals, and political subdivisions		1,315,457			103,663			(8,291		)	1,410,829			—
	Corporate bonds		24,630,156			1,510,233			(391,813		)	25,748,576			—
			30,849,808			1,724,593			(567,972		)	32,006,429			928
	Equity securities		611,473			6,068			(36,332		)	581,209			—
	Short-term investments		80,582			—			—			80,582			—
			$	31,541,863		$	1,730,661		$	(604,304	)	$	32,668,220		$	928
		-1		These amounts are included in the gross unrealized gains and gross unrealized losses columns above.
Schedule of amortized cost and fair value of the Company's investments classified as held-to-maturity						Gross			Gross						Total OTTI
			Amortized			Unrealized			Unrealized			Fair			Recognized
			Cost			Gains			Losses			Value			in OCI
	2014
	Fixed maturities:
	Other		$	435,000		$	50,422		$	—		$	485,422		$	—
			$	435,000		$	50,422		$	—		$	485,422		$	—
	2013
	Fixed maturities:
	Other		$	365,000		$	—		$	(29,324	)	$	335,676		$	—
			$	365,000		$	—		$	(29,324	)	$	335,676		$	—
Schedule of amortized cost and fair value of available-for-sale and held-to-maturity fixed maturities, by expected maturity			Available-for-sale						Held-to-maturity
			Amortized			Fair			Amortized			Fair
			Cost			Value			Cost			Value
			(Dollars In Thousands)						(Dollars In Thousands)
	Due in one year or less		$	1,033,959		$	1,045,159		$	—		$	—
	Due after one year through five years		7,084,156			7,547,483			—			—
	Due after five years through ten years		6,203,383			6,519,436			—			—
	Due after ten years		16,576,530			18,825,342			435,000			485,422
			$	30,898,028		$	33,937,420		$	435,000		$	485,422
Schedule of available-for-sale credit losses on fixed maturities held by the Company for which a portion of an other-than-temporary impairment was recognized in other comprehensive income			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Beginning balance		$	41,674		$	121,237		$	69,476
	Additions for newly impaired securities		—			3,516			26,544
	Additions for previously impaired securities		2,263			12,066			25,217
	Reductions for previously impaired securities due to a change in expected cash flows		(28,474		)	(87,908		)	—
	Reductions for previously impaired securities that were sold in the current period		—			(7,237		)	—
	Other		—			—			—
	Ending balance		$	15,463		$	41,674		$	121,237
Schedule of investments' gross unrealized losses and fair value of the Company's investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position	The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014:
			Less Than 12 Months						12 Months or More						Total
			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
			Value			Loss			Value			Loss			Value			Loss
			(Dollars In Thousands)
	Residential mortgage-backed securities		$	165,877		$	(9,547	)	$	67,301		$	(2,717	)	$	233,178		$	(12,264	)
	Commercial mortgage-backed securities		49,908			(334		)	102,529			(2,030		)	152,437			(2,364		)
	Other asset-backed securities		108,665			(6,473		)	537,488			(29,477		)	646,153			(35,950		)
	U.S. government-related securities		231,917			(3,868		)	280,803			(5,414		)	512,720			(9,282		)
	Other government-related securities		—			—			—			—			—			—
	States, municipalities, and political subdivisions		1,905			(134		)	10,481			(297		)	12,386			(431		)
	Corporate bonds		1,657,103			(76,285		)	776,863			(62,690		)	2,433,966			(138,975		)
	Equities		17,430			(218		)	129,509			(13,935		)	146,939			(14,153		)
			$	2,232,805		$	(96,859	)	$	1,904,974		$	(116,560	)	$	4,137,779		$	(213,419	)
	The following table includes the gross unrealized losses and fair value of the Company’s investments that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2013:
			Less Than 12 Months						12 Months or More						Total
			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
			Value			Loss			Value			Loss			Value			Loss
			(Dollars In Thousands)
	Residential mortgage-backed securities		$	332,812		$	(14,050	)	$	209,818		$	(10,486	)	$	542,630		$	(24,536	)
	Commercial mortgage-backed securities		429,228			(18,467		)	13,840			(1,238		)	443,068			(19,705		)
	Other asset-backed securities		175,846			(14,555		)	497,512			(54,993		)	673,358			(69,548		)
	U.S. government-related securities		891,698			(53,508		)	6,038			(570		)	897,736			(54,078		)
	Other government-related securities		10,161			(1		)	—			—			10,161			(1		)
	States, municipalities, and political subdivisions		172,157			(8,113		)	335			(178		)	172,492			(8,291		)
	Corporate bonds		7,480,163			(353,069		)	271,535			(38,744		)	7,751,698			(391,813		)
	Equities		376,776			(27,861		)	21,764			(8,471		)	398,540			(36,332		)
			$	9,868,841		$	(489,624	)	$	1,020,842		$	(114,680	)	$	10,889,683		$	(604,304	)
Summary of change in unrealized gains (losses), net of income tax, on fixed maturity and equity securities, classified as available-for-sale			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Fixed maturities		$	1,224,248		$	(1,269,277	)	$	819,152
	Equity securities		33,642			(20,899		)	8,484

MORTGAGE_LOANS_Tables

MORTGAGE LOANS (Tables)	12 Months Ended
	Dec. 31, 2014
MORTGAGE LOANS
Schedule of the breakdown of the commercial mortgage loan portfolio by property type
	The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2014:
		Percentage of
		Mortgage Loans
	Type	on Real Estate
	Retail	61.7	%
	Office Buildings	13.3
	Apartments	9.6
	Warehouses	7.8
	Other	7.6
		100.0	%
Schedule of mortgage loans by location of properties		Percentage of
		Mortgage Loans
	State	on Real Estate
	Texas	10.1	%
	Alabama	8.2
	Georgia	8.0
	Florida	7.3
	Tennessee	6.6
	South Carolina	4.8
	North Carolina	4.5
	Utah	4.2
	New York	4.2
	Ohio	4.0
	California	4.0
	Virginia	3.0
	Michigan	2.9
		71.8	%
Schedule of changes in the allowance for mortgage loan credit losses		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Beginning balance	$	3,130		$	2,875
	Charge offs	(675		)	(6,838		)
	Recoveries	(2,600		)	(1,016		)
	Provision	5,865			8,109
	Ending balance	$	5,720		$	3,130
Schedule of an analysis of the delinquent loans
	An analysis of the delinquent loans is shown in the following chart as of December 31:
								Greater
		30-59 Days			60-89 Days			than 90 Days		Total
		Delinquent			Delinquent			Delinquent		Delinquent
		(Dollars In Thousands)
	2014
	Commercial mortgage loans	$	8,972		$	—		$	1,484	$	10,456
	Number of delinquent commercial mortgage loans	4			—			1		5
	2013
	Commercial mortgage loans	$	14,368		$	—		$	2,208	$	16,576
	Number of delinquent commercial mortgage loans	8			—			1		9
Schedule of information regarding impaired loans					Unpaid					Average		Interest		Cash Basis
		Recorded			Principal			Related		Recorded		Income		Interest
		Investment			Balance			Allowance		Investment		Recognized		Income
		(Dollars In Thousands)
	2014
	Commercial mortgage loans:
	With no related allowance recorded	$	—		$	—		$	—	$	—	$	—	$	—
	With an allowance recorded	19,632			20,603			5,720		3,272		1,224		1,280
	2013
	Commercial mortgage loans:
	With no related allowance recorded	$	2,208		$	2,208		$	—	$	2,208	$	31	$	—
	With an allowance recorded	21,288			21,281			3,130		5,322		304		304
Schedule of mortgage loans that were modified in a troubled debt restructuring
				Pre-Modification			Post-Modification
				Outstanding			Outstanding
		Number of		Recorded			Recorded
		contracts		Investment			Investment
				(Dollars In Thousands)
	2014
	Troubled debt restructuring:
	Commercial mortgage loans	6		$	28,648		$	19,593

DEFERRED_POLICY_ACQUISITION_CO1

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Tables)	12 Months Ended
	Dec. 31, 2014
DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED.
Schedule of balances and changes in DAC		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Balance, beginning of period	$	2,720,604		$	2,493,729
	Capitalization of commissions, sales, and issue expenses	293,672			345,885
	Amortization	(194,517		)	(112,117		)
	Change in unrealized investment gains and losses	(166,694		)	(6,893		)
	Balance, end of period	$	2,653,065		$	2,720,604
Schedule of balances and changes in VOBA		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Balance, beginning of period	$	756,018		$	731,627
	Acquisitions(1)	—			49,643
	Amortization	(113,803		)	(42,543		)
	Change in unrealized gains and losses	(140,234		)	17,291
	Balance, end of period	$	501,981		$	756,018
	(1) Includes VOBA associated with the MONY acquisition of $205.7 million, offset by $156.1 million ceded to reinsurers.

GOODWILL_Tables

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2014
GOODWILL
Schedule of changes in the carrying amount of goodwill by segment					Asset		Total
		Acquisitions			Protection		Consolidated
		(Dollars In Thousands)
	Balance as of December 31, 2012	$	35,615		$	48,158	$	83,773
	Tax benefit of excess tax goodwill	(3,098		)	—		(3,098		)
	Balance as of December 31, 2013	32,517			48,158		80,675
	Tax benefit of excess tax goodwill	(3,098		)	—		(3,098		)
	Balance as of December 31, 2014	$	29,419		$	48,158	$	77,577

CERTAIN_NONTRADITIONAL_LONGDUR1

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Tables)	12 Months Ended
	Dec. 31, 2014
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Schedule of activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
	Beginning balance	$	13,608		$	19,606		$	9,798
	Incurred guarantee benefits	10,130			(3,133		)	14,087
	Less: Paid guarantee benefits	2,043			2,865			4,279
	Ending balance	$	21,695		$	13,608		$	19,606
Schedule of account balances of variable annuities with guarantees invested in variable annuity separate accounts		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Equity mutual funds	$	7,834,480		$	7,984,198
	Fixed income mutual funds	5,137,312			4,606,093
	Total	$	12,971,792		$	12,590,291
Schedule of activity in the Company's deferred sales inducement asset		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
	Deferred asset, beginning of period	$	146,651		$	143,949		$	125,527
	Amounts deferred	18,302			15,274			23,362
	Amortization	(9,803		)	(12,572		)	(4,940		)
	Deferred asset, end of period	$	155,150		$	146,651		$	143,949

REINSURANCE_Tables

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2014
REINSURANCE
Schedule of net life insurance in-force			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Millions)
	Direct life insurance in-force		$	721,036		$	726,697		$	706,416
	Amounts assumed from other companies		43,237			46,752			30,470
	Amounts ceded to other companies		(388,890		)	(416,809		)	(444,951		)
	Net life insurance in-force		$	375,383		$	356,640		$	291,935
	Percentage of amount assumed to net		12		%	13		%	10		%
Schedule of effect of reinsurance on life insurance premiums written and earned									Assumed						Percentage of
						Ceded to			from						Amount
			Gross			Other			Other			Net			Assumed to
			Amount			Companies			Companies			Amount			Net
			(Dollars In Thousands)
	For The Year Ended December 31, 2014:
	Premiums and policy fees:
	Life insurance		$	2,603,956		$	1,279,908		$	349,934		$	1,673,982	-1	20.9
	Accident/health insurance		81,037			42,741			20,804			59,100			35.2
	Property and liability insurance		218,663			73,094			8,675			154,244			5.6
	Total		$	2,903,656		$	1,395,743		$	379,413		$	1,887,326
	For The Year Ended December 31, 2013:
	Premiums and policy fees:
	Life insurance		$	2,371,871		$	1,299,631		$	306,921		$	1,379,161	-1	22.3
	Accident/health insurance		45,262			20,011			24,291			49,542			49.0
	Property and liability insurance		211,000			67,795			7,977			151,182			5.3
	Total		$	2,628,133		$	1,387,437		$	339,189		$	1,579,885
	For The Year Ended December 31, 2012
	Premiums and policy fees:
	Life insurance		$	2,226,614		$	1,228,444		$	281,711		$	1,279,881	-1	22.0
	Accident/health insurance		38,873			12,065			29,413			56,221			52.3
	Property and liability insurance		216,014			69,588			6,765			153,191			4.4
	Total		$	2,481,501		$	1,310,097		$	317,889		$	1,489,293
		-1		Includes annuity policy fees of $92.8 million, $88.7 million, and $103.8 million for the years ended December 31, 2014, 2013, and 2012, respectively.
Schedule of receivables attributable to more significant reinsurance partners			As of December 31,
			2014					2013
			Reinsurance			A.M. Best		Reinsurance			A.M. Best
			Receivable			Rating		Receivable			Rating
			(Dollars In Millions)
	Security Life of Denver Insurance Company		$	842.1		A		$	819.3		A
	Swiss Re Life & Health America, Inc.		820.9			A+		823.0			A+
	Lincoln National Life Insurance Co.		556.3			A+		553.7			A+
	Transamerica Life Insurance Co.		497.7			A+		531.1			A+
	RGA Reinsurance Company		412.4			A+		419.1			A+
	SCOR Global Life USA Reinsurance Company		411.8			A		402.7			A
	American United Life Insurance Company		336.1			A+		342.2			A+
	Scottish Re (U.S.), Inc.		298.0			NR		305.1			NR
	Centre Reinsurance (Bermuda) Ltd		260.9			NR		281.6			NR
	Employers Reassurance Corporation		254.3			A-		289.2			A-

DEBT_AND_OTHER_OBLIGATIONS_Tab

DEBT AND OTHER OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2014
DEBT AND OTHER OBLIGATIONS
Non-recourse funding obligations outstanding					Year-to-Date
				Maturity	Weighted-
					Avg
	Issuer	Balance		Year	Interest Rate
		(Dollars In Thousands)
	Golden Gate Captive Insurance Company(1)	$	800,000	2037	7.86	%
	Golden Gate II Captive Insurance Company	290,248		2052	1.13	%
	Golden Gate V Vermont Captive Insurance Company(1)	435,000		2037	6.25	%
	MONY Life Insurance Company(1)	2,504		2024	6.63	%
	Total	$	1,527,752
	(1) Fixed rate obligations

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2014
Administrative and marketing office space
COMMITMENTS AND CONTINGENCIES
Schedule of future minimum rental payments required under operating leases	Year	Amount
		(Dollars In Thousands)
	2015	$	5,911
	2016	4,942
	2017	2,750
	2018	2,111
	2019	1,879
	Thereafter	7,488
Building contiguous to home office
COMMITMENTS AND CONTINGENCIES
Schedule of future minimum rental payments required under operating leases	Year	Amount
		(Dollars In Thousands)
	2015	$	1,233
	2016	1,236
	2017	1,233
	2018	76,208

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2014
STOCK-BASED COMPENSATION
Schedule of performance shares awarded and estimated fair value of the awards at grant date	Year		Performance		Estimated
	Awarded		Shares		Fair Value
					(Dollars In Thousands)
	2014		203,295		$	10,484
	2013		298,500		9,328
	2012		306,100		8,608
	2011		191,100		5,433
Schedule of the SARs activity as well as weighted-average base price			Weighted-Average
			Base Price per share			No. of SARs
	Balance at December 31, 2011		$	22.27		2,274,229
	SARs exercised / forfeited		22.6			(633,062	)
	Balance at December 31, 2012		$	22.15		1,641,167
	SARs exercised / forfeited		18.54			(336,066	)
	Balance at December 31, 2013		$	23.08		1,305,101
	SARs exercised / forfeited / expired		22.07			(1,147,473	)
	Balance at December 31, 2014		$	30.41		157,628
Schedule of outstanding SARs by base prices				SARs		Remaining Life		Currently
	Base Price			Outstanding		in Years		Exercisable
	$	41.05		10,000		1		10,000
	$	43.46		22,300		3		22,300
	$	38.59		52,000		4		52,000
	$	3.50		46,110		5		46,110
	$	18.36		27,218		6		27,218
Schedule of equity compensation plans								Number of securities
								remaining available
								for future issuance
			Number of securities					under equity
			to be issued upon		Weighted-average			compensation plans
			exercise of		exercise price of			(excluding securities
			outstanding options,		outstanding options,			reflected in
			warrants and rights as		warrants and rights as			column (a)) as of
	Plan category		of December 31, 2014 (a)		of December 31, 2014 (b)			of December 31, 2014 (c)
	Equity compensation plans approved by shareowners		1,960,959	-1	$	22.07	-3	4,092,546	-4
	Equity compensation plans not approved by shareowners		193,720	-2	Not applicable			Not applicable	-5
	Total		2,154,679		$	22.07		4,092,546
		-1		Includes the following number of shares: (a) 102,458 shares issuable with respect to outstanding SARs (assuming for this purpose that one share of common stock will be payable with respect to each outstanding SAR); (b) 907,487 shares issuable with respect to outstanding performance share awards (assuming for this purpose that the awards are payable based on estimated performance under the awards as of September 30, 2014); (c) 313,199 shares issuable with respect to outstanding restricted stock units (assuming for this purpose that shares will be payable with respect to all outstanding restricted stock units); (d) 475,386 shares issuable with respect to stock equivalents representing previously earned awards under the LTIP that the recipient deferred under PLC’s Deferred Compensation Plan for Officers; and (e) 162,429 shares issuable with respect to stock equivalents representing previous awards under PLC’s Stock Plan for Non-Employee Directors that the recipient deferred under PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of PLC.
		-2		Includes the following number of shares of common stock: (a) 152,709 shares issuable with respect to stock equivalents representing (i) stock awards to PLC’s Directors before June 1, 2004 that the recipient deferred pursuant to PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of PLC and (ii) cash retainers and fees that PLC’s Directors deferred under PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of PLC, and (b) 41,011 shares issuable with respect to stock equivalents pursuant to PLCs Deferred Compensation Plan for Officers.
		-3		Based on exercise prices of outstanding SARs.
		-4		Represents shares of common stock available for future issuance under the LTIP and PLC’s Stock Plan for Non-Employee Directors.
		-5		The plans listed in Note (2) do not currently have limits on the number of shares of common stock issuable under such plans. The total number of shares of common stock that may be issuable under such plans will depend upon, among other factors, the deferral elections made by the plans’ participants.

EMPLOYEE_BENEFIT_PLANS_Tables

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2014
Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Schedule of benefit obligation, fair value of plan assets and the funded status of the Company's defined benefit pension plan and unfunded excess benefit plan			Defined Benefit						Unfunded Excess
			Pension Plan						Benefit Plan
			2014			2013			2014			2013
			(Dollars In Thousands)
	Accumulated benefit obligation, end of year		$	249,453		$	207,999		$	47,368		$	36,306
	Change in projected benefit obligation:
	Projected benefit obligation at beginning of year		$	219,152		$	223,319		$	39,679		$	42,971
	Service cost		9,411			9,345			954			1,037
	Interest cost		10,493			8,985			1,696			1,387
	Amendments		—			—			—			—
	Actuarial (gain) loss		38,110			(8,172		)	9,153			(1,505		)
	Benefits paid		(9,835		)	(14,325		)	(1,907		)	(4,211		)
	Projected benefit obligation at end of year		267,331			219,152			49,575			39,679
	Change in plan assets:
	Fair value of plan assets at beginning of year		180,173			152,187			—			—
	Actual return on plan assets		17,921			33,368			—			—
	Employer contributions(1)		15,513			8,943			1,907			4,211
	Benefits paid		(9,835		)	(14,325		)	(1,907		)	(4,211		)
	Fair value of plan assets at end of year		203,772			180,173			—			—
	After reflecting FASB guidance:
	Funded status		(63,559		)	(38,979		)	(49,575		)	(39,679		)
	Amounts recognized in the balance sheet:
	Other liabilities		(63,559		)	(38,979		)	(49,575		)	(39,679		)
	Amounts recognized in accumulated other comprehensive income:
	Net actuarial loss/(gain)		80,430			54,897			20,983			13,346
	Prior service cost/(credit)		(1,033		)	(1,425		)	24			36
	Total		$	79,397		$	53,472		$	21,007		$	13,382
		-1		Employer contributions disclosed are based on PLC’s fiscal filing year
Schedule of weighted-average assumptions used to determine benefit obligations			Defined Benefit Pension				Unfunded Excess
			Plan				Benefit Plan
			2014		2013		2014		2013
	Discount rate		3.95	%	4.86	%	3.65	%	4.30	%
	Rate of compensation increase		4.75% prior to age 40		3.0		4.75% prior to age 40		4.0
			3.75% for age 40 and				3.75% for age 40 and
			above				above
	Expected long-term return on plan assets		7.5		7.5		N/A		N/A
Schedule of weighted-average assumptions used to determine the net periodic benefit cost			Defined Benefit Pension Plan						Unfunded Excess Benefit Plan
			2014		2013		2012		2014		2013		2012
	Discount rate		4.86	%	4.07	%	4.62	%	4.30	%	3.37	%	4.07	%
	Rates of compensation increase		3.0		3.0		2.5 - 3.0		4.0		4.0		3.5 - 4.0
	Expected long-term return on plan assets		7.5		7.5		7.75		N/A		N/A		N/A
Components of the net periodic benefit cost of PLC's defined benefit pension plan and unfunded excess benefit plan			Defined Benefit Pension Plan									Unfunded Excess Benefit Plan
			2014			2013			2012			2014			2013		2012
			(Dollars In Thousands)
	Service cost — benefits earned during the period		$	9,411		$	9,345		$	9,145		$	954		$	1,037	$	867
	Interest cost on projected benefit obligation		10,493			8,985			8,977			1,696			1,387		1,473
	Expected return on plan assets		(12,166		)	(11,013		)	(10,916		)	—			—		—
	Amortization of prior service cost/(credit)		(392		)	(392		)	(392		)	12			12		12
	Amortization of actuarial losses(1)		6,821			9,631			7,749			1,516			1,792		1,300
	Preliminary net periodic benefit cost		14,167			16,556			14,563			4,178			4,228		3,652
	Settlement/curtailment expense(2)		—			—			—			—			928		—
	Total net periodic benefit cost		$	14,167		$	16,556		$	14,563		$	4,178		$	5,156	$	3,652
		-1		2014 average remaining service period used is 8.10 years and 7.51 years for the defined benefit pension plan and unfunded excess benefit plan, respectively.
		-2		The unfunded excess pension plan triggered settlement accounting for the year ended December 31, 2013 since the total lump sum payments exceeded the settlement threshold of service cost plus interest cost.
Schedule of estimated net actuarial loss, prior service cost/(credit) and transition obligation that will be amortized from accumulated other comprehensive income into net periodic benefit cost during the next fiscal year			Defined Benefit			Unfunded Excess
			Pension Plan			Benefit Plan
			(Dollars In Thousands)
	Net actuarial loss/(gain)		$	7,603		$	1,901
	Prior service cost/(credit)		(392		)	12
	Transition obligation/(asset)		—			—
Schedule of allocation of plan assets by category			Target
			Allocation for
	Asset Category		2015		2014		2013
	Cash and cash equivalents		2	%	4	%	2	%
	Equity securities		60		62		64
	Fixed income		38		34		34
	Total		100	%	100	%	100	%
Schedule of fair value of plan assets by category			As of December 31,
	Asset Category		2014			2013
			(Dollars In Thousands)
	Cash and cash equivalents		$	7,968		$	3,052
	Equity securities:
	Collective Russell 3000 equity index fund		79,660			74,753
	Fidelity Spartan 500 index fund		51,848			45,632
	Fixed income		64,296			56,736
	Total investments		203,772			180,173
	Employer contribution receivable		2,165			2,314
	Total		$	205,937		$	182,487
Schedule of fair value of plan assets, set forth by level, within the fair value hierarchy
	The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014:
			Level 1			Level 2			Level 3			Total
			(Dollars In Thousands)
	Collective short-term investment fund		$	7,968		$	—		$	—		$	7,968
	Collective investment funds:
	Equity index funds		51,848			79,660			—			131,508
	Group deposit administration annuity contract		—			—			64,296			64,296
	Total investments		$	59,816		$	79,660		$	64,296		$	203,772
	The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2013:
			Level 1			Level 2			Level 3			Total
			(Dollars In Thousands)
	Collective short-term investment fund		$	3,052		$	—		$	—		$	3,052
	Collective investment funds:
	Equity index funds		45,632			74,753			—			120,385
	Group deposit administration annuity contract		—			—			56,736			56,736
	Total investments		$	48,684		$	74,753		$	56,736		$	180,173
Summary of Plan investments measured at fair value based on NAV per share						Unfunded		Redemption		Redemption
	Name		Fair Value			Commitments		Frequency		Notice Period
			(Dollars In Thousands)
	As of December 31, 2014:
	Collective short-term investment fund		$	7,968		Not Applicable		Daily		1 day
	Collective Russell 3000 index fund(1)		79,660			Not Applicable		Daily		1 day
	Fidelity Spartan 500 index fund		51,848			Not Applicable		Daily		1 day
	As of December 31, 2013:
	Collective short-term investment fund		$	3,052		Not Applicable		Daily		1 day
	Collective Russell 3000 index fund(1)		74,753			Not Applicable		Daily		1 day
	Fidelity Spartan 500 index fund		45,632			Not Applicable		Daily		1 day
		-1		Non-lending collective trust that does not publish a daily NAV but tracks the Russell 3000 index and provides a daily NAV to the Plan.
Reconciliation of the beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) have been used			As of December 31,
			2014			2013
			(Dollars In Thousands)
	Balance, beginning of year		$	56,736		$	50,032
	Interest income		3,060			2,704
	Transfers from collective short-term investments fund		4,500			4,000
	Transfers to collective short-term investments fund		—			—
	Balance, end of year		$	64,296		$	56,736
Schedule of Plan's Level 3 financial instrument, the valuation technique used, and the significant unobservable input and the ranges of values for that input						Principal		Significant		Range of
						Valuation		Unobservable		Significant Input
	Instrument		Fair Value			Technique		Inputs		Values
			(Dollars In Thousands)
	Group deposit administration annuity contract		$	64,296		Contract Value		Contract Rate		5.28% - 5.47%
Schedule of estimated future benefit payments under defined benefit pension plan			Defined Benefit			Unfunded Excess
	Years		Pension Plan			Benefit Plan
			(Dollars In Thousands)
	2015		$	15,055		$	4,016
	2016		15,243			4,036
	2017		16,957			5,610
	2018		16,515			4,005
	2019		19,014			4,303
	2020-2024		97,137			17,800
Retiree medical plan
EMPLOYEE BENEFIT PLANS
Schedule of accumulated postretirement benefit obligation			As of December 31,
			2014			2013
			(Dollars In Thousands)
	Change in Benefit Obligation
	Benefit obligation, beginning of year		$	447		$	788
	Service cost		2			4
	Interest cost		4			5
	Actuarial (gain)/loss		30			29
	Plan participant contributions		254			289
	Benefits paid		(490		)	(668		)
	Benefit obligation, end of year		$	247		$	447
Group life insurance plan
EMPLOYEE BENEFIT PLANS
Schedule of fair value of plan assets by category			For The Year Ended December 31,
	Category of Investment		2014			2013			2012
			(Dollars In Thousands)
	Money market fund		$	5,925		$	6,156		$	6,174
Schedule of fair value of plan assets, set forth by level, within the fair value hierarchy
	The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2014:
			Level 1			Level 2			Level 3			Total
			(Dollars In Thousands)
	Money market fund		$	5,925		$	—		$	—		$	5,925
	The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2013:
			Level 1			Level 2			Level 3			Total
			(Dollars In Thousands)
	Money market fund		$	6,156		$	—		$	—		$	6,156
Schedule of accumulated postretirement benefit obligation			As of December 31,
			2014			2013
			(Dollars In Thousands)
	Change in Benefit Obligation
	Benefit obligation, beginning of year		$	8,653		$	10,070
	Service cost		97			144
	Interest cost		416			405
	Actuarial (gain)/loss		694			(1,620		)
	Benefits paid		(572		)	(346		)
	Benefit obligation, end of year		$	9,288		$	8,653

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2014
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Summary of changes in the accumulated balances for each component of accumulated other comprehensive income (loss)	Changes in Accumulated Other Comprehensive Income (Loss) by Component
									Total
									Accumulated
			Unrealized			Accumulated			Other
			Gains and Losses			Gain and Loss			Comprehensive
			on Investments(2)			Derivatives			Income (Loss)
			(Dollars In Thousands, Net of Tax)
	Beginning Balance, December 31, 2013		$	540,201		$	(1,235	)	$	538,966
	Other comprehensive income (loss) before reclassifications		983,985			(2		)	983,983
	Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings		3,498			—			3,498
	Amounts reclassified from accumulated other comprehensive income (loss)(1)		(44,391		)	1,155			(43,236		)
	Net current-period other comprehensive income (loss)		943,092			1,153			944,245
	Ending Balance, December 31, 2014		$	1,483,293		$	(82	)	$	1,483,211
		-1		See Reclassification table below for details.
		-2		These balances were offset by the impact of DAC and VOBA by $198.1 million and $397.5 million as of December 31, 2013 and 2014, respectively.
	Changes in Accumulated Other Comprehensive Income (Loss) by Component
									Total
									Accumulated
			Unrealized			Accumulated			Other
			Gains and Losses			Gain and Loss			Comprehensive
			on Investments(2)			Derivatives			Income (Loss)
			(Dollars In Thousands, Net of Tax)
	Beginning Balance, December 31, 2012		$	1,814,620		$	(3,496	)	$	1,811,124
	Other comprehensive income (loss) before reclassifications		(1,250,416		)	734			(1,249,682		)
	Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings		4,591			—			4,591
	Amounts reclassified from accumulated other comprehensive income (loss)(1)		(28,594		)	1,527			(27,067		)
	Net current-period other comprehensive income (loss)		(1,274,419		)	2,261			(1,272,158		)
	Ending Balance, December 31, 2013		$	540,201		$	(1,235	)	$	538,966
		-1		See Reclassification table below for details.
		-2		These balances were offset by the impact of DAC and VOBA by $204.9 million and $198.1 million as of December 31, 2012 and 2013, respectively.
Schedule of reclassifications amounts out of AOCI	Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
			Amount
			Reclassified
			from Accumulated
			Other Comprehensive			Affected Line Item in the Consolidated
			Income (Loss)			Statements of Income
			(Dollars In Thousands)
	For The Year Ended December 31, 2014
	Gains and losses on derivative instruments
	Net settlement (expense)/benefit(1)		$	(1,777	)	Benefits and settlement expenses, net of reinsurance ceded
			(1,777		)	Total before tax
			622			Tax (expense) or benefit
			$	(1,155	)	Net of tax
	Unrealized gains and losses on available-for-sale securities
	Net investment gains/losses		$	75,569		Realized investment gains (losses): All other investments
	Impairments recognized in earnings		(7,275		)	Net impairment losses recognized in earnings
			68,294			Total before tax
			(23,903		)	Tax (expense) or benefit
			$	44,391		Net of tax
		-1		See Note 23, Derivative Financial Instruments for additional information.
	Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
			Amount
			Reclassified
			from Accumulated
			Other Comprehensive			Affected Line Item in the Consolidated
			Income (Loss)			Statements of Income
			(Dollars In Thousands)
	For The Year Ended December 31, 2013
	Gains and losses on derivative instruments
	Net settlement (expense)/benefit(1)		$	(2,349	)	Benefits and settlement expenses, net of reinsurance ceded
			(2,349		)	Total before tax
			822			Tax (expense) or benefit
			$	(1,527	)	Net of tax
	Unrealized gains and losses on available-for-sale securities
	Net investment gains/losses		$	66,437		Realized investment gains (losses): All other investments
	Impairments recognized in earnings		(22,447		)	Net impairment losses recognized in earnings
			43,990			Total before tax
			(15,396		)	Tax (expense) or benefit
			$	28,594		Net of tax
		-1		See Note 23, Derivative Financial Instruments for additional information.

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2014
INCOME TAXES
Schedule of reconciliation of effective income tax rate related to continuing operations		For The Year Ended December 31,
		2014		2013		2012
	Statutory federal income tax rate applied to pre-tax income	35	%	35	%	35	%
	State income taxes	0.5		0.4		0.4
	Investment income not subject to tax	(2.7	)	(4.4	)	(3.1	)
	Uncertain tax positions	0.5		0.1		0.2
	Other	0.1		(0.1	)	0.4
		33.4	%	31	%	32.9	%
Schedule of components of income tax		For The Year Ended December 31,
		2014			2013			2012
		(Dollars In Thousands)
	Current income tax expense:
	Federal	$	176,238		$	(18,076	)	$	78,510
	State	5,525			(222		)	2,496
	Total current	$	181,763		$	(18,298	)	$	81,006
	Deferred income tax expense:
	Federal	$	65,566		$	149,288		$	66,375
	State	(491		)	(93		)	3,662
	Total deferred	$	65,075		$	149,195		$	70,037
Schedule of components of the Company's net deferred income tax liability		As of December 31,
		2014			2013
		(Dollars In Thousands)
	Deferred income tax assets:
	Premium receivables and policy liabilities	$	154,720		$	275,355
	Loss and credit carryforwards	35,642			104,530
	Deferred compensation	104,117			104,062
	Invested assets (other than unrealized gains)	2,960			—
	Valuation allowance	(791		)	(780		)
		296,648			483,167
	Deferred income tax liabilities:
	Deferred policy acquisition costs and value of business acquired	1,073,499			1,034,614
	Invested assets (other than unrealized gains)	—			147,446
	Net unrealized gains (losses) on investments	798,529			290,062
	Other	36,484			52,465
		1,908,512			1,524,587
	Net deferred income tax liability	$	(1,611,864	)	$	(1,041,420	)
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits		As of December 31,
		2014			2013			2012
		(Dollars In Thousands)
	Balance, beginning of period	$	85,846		$	74,335		$	4,318
	Additions for tax positions of the current year	57,392			7,464			9,465
	Additions for tax positions of prior years	34,371			6,787			64,050
	Reductions of tax positions of prior years:
	Changes in judgment	(9,533		)	(2,740		)	(3,498		)
	Settlements during the period	—			—			—
	Lapses of applicable statute of limitations	—			—			—
	Balance, end of period	$	168,076		$	85,846		$	74,335

SUPPLEMENTAL_CASH_FLOW_INFORMA1

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2014
SUPPLEMENTAL CASH FLOW INFORMATION
Schedule of supplemental cash flow information		For The Year Ended December 31,
		2014		2013			2012
		(Dollars In Thousands)
	Cash paid / (received) during the year:
	Interest expense	$	117,776	$	110,301		$	92,175
	Income taxes	159,724		(54,370		)	77,665

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2014
RELATED PARTY TRANSACTIONS
Schedule of balances from related party's balance sheet		As of
		March 31, 2013
		(Dollars In Thousands)
	Assets
	Other long-term investments	$	34,093
	Short-term investments	745
	Total investments	34,838
	Cash	44,963
	Accounts and premiums receivable	16,036
	Deferred policy acquisition cost	123,847
	Other assets	48,953
	Total assets	$	268,637
	Liabilities
	Future policy benefits and claims	$	1,626
	Other liabilities	178,321
	Deferred income taxes	2,459
	Total liabilities	182,406
	Total equity	86,231
	Total liabilities and equity	$	268,637

STATUTORY_REPORTING_PRACTICES_1

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2014
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Schedule of favorable (unfavorable) effects of the Company's statutory surplus, compared to NAIC statutory surplus		As of December 31,
		2014			2013
		(Dollars In Millions)
	Non-admission of goodwill	$	(310	)	$	(311	)
	Total (net)	$	(310	)	$	(311	)
Schedule of favorable (unfavorable) effects on the statutory surplus of the Company's insurance subsidiaries, compared to NAIC statutory surplus		As of December 31,
		2014			2013
		(Dollars In Millions)
	Accounting for Letters of Credit as admitted assets	$	1,735		$	1,415
	Accounting for Red Mountain Note as admitted asset	$	435		$	365
	Reserving based on state specific actuarial practices	$	112		$	105
	Reserving difference related to a captive insurance company	$	(87	)	$	(22	)

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of assets and liabilities measured at fair value on a recurring basis
	The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2014:
			Level 1			Level 2			Level 3			Total
			(Dollars In Thousands)
	Assets:
	Fixed maturity securities - available-for-sale
	Residential mortgage-backed securities		$	—		$	1,418,255		$	3		$	1,418,258
	Commercial mortgage-backed securities		—			1,177,252			—			1,177,252
	Other asset-backed securities		—			275,415			563,961			839,376
	U.S. government-related securities		1,165,188			263,707			—			1,428,895
	State, municipalities, and political subdivisions		—			1,684,014			3,675			1,687,689
	Other government-related securities		—			20,172			—			20,172
	Corporate bonds		132			26,039,963			1,325,683			27,365,778
	Total fixed maturity securities - available-for-sale		1,165,320			30,878,778			1,893,322			33,937,420
	Fixed maturity securities - trading
	Residential mortgage-backed securities		—			288,114			—			288,114
	Commercial mortgage-backed securities		—			151,111			—			151,111
	Other asset-backed securities		—			105,118			169,461			274,579
	U.S. government-related securities		245,563			4,898			—			250,461
	State, municipalities, and political subdivisions		—			325,446			—			325,446
	Other government-related securities		—			57,032			—			57,032
	Corporate bonds		—			1,447,333			24,744			1,472,077
	Total fixed maturity securities - trading		245,563			2,379,052			194,205			2,818,820
	Total fixed maturity securities		1,410,883			33,257,830			2,087,527			36,756,240
	Equity securities		590,832			99,267			66,691			756,790
	Other long-term investments (1)		119,997			106,079			44,625			270,701
	Short-term investments		243,436			3,281			—			246,717
	Total investments		2,365,148			33,466,457			2,198,843			38,030,448
	Cash		268,286			—			—			268,286
	Assets related to separate accounts
	Variable annuity		13,157,429			—			—			13,157,429
	Variable universal life		834,940			—			—			834,940
	Total assets measured at fair value on a recurring basis		$	16,625,803		$	33,466,457		$	2,198,843		$	52,291,103
	Liabilities:
	Annuity account balances(2)		$	—		$	—		$	97,825		$	97,825
	Other liabilities (1)		62,146			61,046			506,343			629,535
	Total liabilities measured at fair value on a recurring basis		$	62,146		$	61,046		$	604,168		$	727,360
		-1		Includes certain freestanding and embedded derivatives.
		-2		Represents liabilities related to fixed indexed annuities.
	The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:
			Level 1			Level 2			Level 3			Total
			(Dollars In Thousands)
	Assets:
	Fixed maturity securities - available-for-sale
	Residential mortgage-backed securities		$	—		$	1,445,040		$	28		$	1,445,068
	Commercial mortgage-backed securities		—			970,656			—			970,656
	Other asset-backed securities		—			326,175			545,808			871,983
	U.S. government-related securities		1,211,141			296,749			—			1,507,890
	State, municipalities, and political subdivisions		—			1,407,154			3,675			1,410,829
	Other government-related securities		—			51,427			—			51,427
	Corporate bonds		107			24,198,529			1,549,940			25,748,576
	Total fixed maturity securities - available-for-sale		1,211,248			28,695,730			2,099,451			32,006,429
	Fixed maturity securities - trading
	Residential mortgage-backed securities		—			310,877			—			310,877
	Commercial mortgage-backed securities		—			158,570			—			158,570
	Other asset-backed securities		—			93,278			194,977			288,255
	U.S. government-related securities		191,332			4,906			—			196,238
	State, municipalities, and political subdivisions		—			260,892			—			260,892
	Other government-related securities		—			57,097			—			57,097
	Corporate bonds		—			1,497,362			29,199			1,526,561
	Total fixed maturity securities - trading		191,332			2,382,982			224,176			2,798,490
	Total fixed maturity securities		1,402,580			31,078,712			2,323,627			34,804,919
	Equity securities		483,482			50,927			67,979			602,388
	Other long-term investments (1)		56,469			54,965			98,886			210,320
Short-term investments		131,422			1,603			—			133,025
Total investments		2,073,953			31,186,207			2,490,492			35,750,652
Cash		345,579			—			—			345,579
Other assets		—			—			—			—
Assets related to separate accounts
Variable annuity		12,791,438			—			—			12,791,438
Variable universal life		783,618			—			—			783,618
Total assets measured at fair value on a recurring basis		$	15,994,588		$	31,186,207		$	2,490,492		$	49,671,287
Liabilities:
Annuity account balances (2)		$	—		$	—		$	107,000		$	107,000
Other liabilities (1)		30,241			191,182			233,738			455,161
Total liabilities measured at fair value on a recurring basis		$	30,241		$	191,182		$	340,738		$	562,161
(1)Includes certain freestanding and embedded derivatives.
(2)Represents liabilities related to fixed indexed annuities.
Schedule of valuation method for material financial instruments included in Level 3, as well as the unobservable inputs used in the valuation of those financial instruments			Fair Value
			As of			Valuation		Unobservable		Range
			December 31, 2014			Technique		Input		(Weighted Average)
			(Dollars In Thousands)
	Assets:
	Other asset-backed securities		$	563,752		Discounted cash flow		Liquidity premium		0.39%-1.49% (0.69%)
								Paydown rate		9.70% - 15.80% (12.08%)
	Corporate bonds		1,282,864			Discounted cash flow		Spread over treasury		0.33% - 7.50% (2.19%)
	Liabilities:
	Embedded derivatives - GMWB(1)		$	25,927		Actuarial cash flow model		Mortality		44.5% to 100% of 1994
								Lapse		MGDB table
										0.25% - 17%, depending on product/duration/funded status of guarantee
								Utilization		97% - 101%
								Nonperformance risk		0.12% - 0.96%
	Annuity account balances(2)		97,825			Actuarial cash flow model		Asset earned rate		3.86% - 5.92%
								Expenses		$88 - $102 per policy
								Withdrawal rate		2.20%
								Mortality		49% to 80% of 1994
										MGDB table
								Lapse		2.2% - 33.0%, depending on duration/surrender charge period
								Return on assets		1.50% - 1.85% depending on surrender charge period
								Nonperformance risk		0.12% - 0.96%
	Embedded derivative-FIA		124,465			Actuarial cash flow model		Expenses		$83 - $97 per policy
								Withdrawal rate		1.1% - 4.5% depending on
										duration and tax qualification
								Mortality		49% - 80% of 1994
										MGDB table
								Lapse		2.5% - 40.0%, depending on duration/surrender charge period
								Nonperformance risk		0.12% - 0.96%
	Embedded derivative-IUL		6,691			Actuarial cash flow model		Mortality		37% - 74% of 2008 VBT
										Primary Tables
								Lapse		0.5% - 10.0%, depending on duration/distribution channel and smoking class
								Nonperformance risk		0.12% - 0.96%
		-1		The fair value for the GMWB embedded derivative is presented as a net liability. Excludes modified coinsurance agreements.
		-2		Represents liabilities related to fixed indexed annuities.
			Fair Value
			As of			Valuation		Unobservable		Range
			December 31, 2013			Technique		Input		(Weighted Average)
			(Dollars In Thousands)
	Assets:
	Other asset-backed securities		$	545,808		Discounted cash flow		Liquidity premium		1.00%-1.68%% (1.08%)
								Paydown rate		8.57% - 16.87% (12.05%)
	Corporate bonds		1,555,898			Discounted cash flow		Spread over treasury		0.11% - 6.75% (2.06%)
	Embedded derivatives - GMWB(1)		93,939			Actuarial cash flow model		Mortality		49% to 80% of 1994
										MGDB table
								Lapse		0% - 24%, depending on product/duration/funded status of guarantee
								Utilization		97% - 103%
								Nonperformance risk		0.15% - 1.06%
	Liabilities:
	Annuity account balances(2)		$	107,000		Actuarial cash flow model		Asset earned rate		5.37%
								Expenses		$88 - $102 per policy
								Withdrawal rate		2.20%
								Mortality		49% to 80% of 1994
										MGDB table
								Lapse		2.2% - 33.0%, depending on duration/surrender charge period
								Return on assets		1.50% - 1.85% depending on surrender charge period
								Nonperformance risk		0.15% - 1.06%
	Embedded derivative - FIA		25,324			Actuarial cash flow model		Expenses		$83 - $97 per policy
								Withdrawal rate		1.1% to 4.5% depending on duration and tax qualification
								Mortality		49% to 80% of 1994
										MGDB table
								Lapse		2.5% - 40.0%, depending on duration/surrender charge period
								Nonperformance risk		0.15% - 1.06%
		-1		The fair value for the GMWB embedded derivative is presented as a net asset. Excludes modified coinsurance arrangements.
	-2		Represents liabilities related to fixed indexed annuities.
Schedule of reconciliation of the beginning and ending balances for fair value measurements, for which the Company has used significant unobservable inputs (Level 3)
	The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the year ended December 31, 2014, for which the Company has used significant unobservable inputs (Level 3):
																																			Total
																																			Gains (losses)
						Total						Total																							included in
						Realized and Unrealized						Realized and Unrealized																							Earnings
						Gains						Losses																							related to
									Included in						Included in																				Instruments
									Other						Other												Transfers								still held at
			Beginning			Included in			Comprehensive			Included in			Comprehensive												in/out of						Ending		the Reporting
			Balance			Earnings			Income			Earnings			Income			Purchases		Sales			Issuances		Settlements		Level 3			Other			Balance		Date
			(Dollars In Thousands)
	Assets:
	Fixed maturity securities available-for-sale
	Residential mortgage-backed securities		$	28		$	—		$	—		$	—		$	(1	)	$	—	$	(24	)	$	—	$	—	$	—		$	—		$	3	$	—
	Commercial mortgage-backed securities		—			—			—			—			—			—		—			—		—		—			—			—		—
	Other asset-backed securities		545,808			—			36,395			(248		)	(8,033		)	—		(10,064		)	—		—		—			103			563,961		—
	U.S. government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
	States, municipals, and political subdivisions		3,675			—			—			—			—			—		—			—		—		—			—			3,675		—
	Other government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
	Corporate bonds		1,549,940			1,183			67,955			(2		)	(33,553		)	139,029		(226,073		)	—		—		(162,236		)	(10,560		)	1,325,683		—
	Total fixed maturity securities - available-for-sale		2,099,451			1,183			104,350			(250		)	(41,587		)	139,029		(236,161		)	—		—		(162,236		)	(10,457		)	1,893,322		—
	Fixed maturity securities - trading
	Residential mortgage-backed securities		—			11			—			—			—			842		—			—		—		(853		)	—			—		—
	Commercial mortgage-backed securities		—			—			—			—			—			—		—			—		—		—			—			—		—
	Other asset-backed securities		194,977			9,507			—			(5,508		)	—			—		(30,462		)	—		—		—			947			169,461		1,083
	U.S. government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
	States, municipals and political subdivisions		—			—			—			—			—			—		—			—		—		—			—			—		—
	Other government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
	Corporate bonds		29,199			1,294			—			(1,098		)	—			5,839		(10,770		)	—		—		4			276			24,744		(121		)
	Total fixed maturity securities - trading		224,176			10,812			—			(6,606		)	—			6,681		(41,232		)	—		—		(849		)	1,223			194,205		962
	Total fixed maturity securities		2,323,627			11,995			104,350			(6,856		)	(41,587		)	145,710		(277,393		)	—		—		(163,085		)	(9,234		)	2,087,527		962
	Equity securities		67,979			—			1,192			—			(261		)	9,551		(1,119		)	—		—		(10,651		)				66,691		—
	Other long-term investments(1)		98,886			4,979			—			(59,240		)	—			—		—			—		—		—			—			44,625		(54,261		)
	Short-term investments		—			—			—			—			—			—		—			—		—		—			—			—		—
	Total investments		2,490,492			16,974			105,542			(66,096		)	(41,848		)	155,261		(278,512		)	—		—		(173,736		)	(9,234		)	2,198,843		(53,299		)
	Total assets measured at fair value on a recurring basis		$	2,490,492		$	16,974		$	105,542		$	(66,096	)	$	(41,848	)	$	155,261	$	(278,512	)	$	—	$	—	$	(173,736	)	$	(9,234	)	$	2,198,843	$	(53,299	)
	Liabilities:
	Annuity account balances(2)		$	107,000		$	—		$	—		$	(4,307	)	$	—		$	—	$	—		$	685	$	14,167	$	—		$	—		$	97,825	$	—
	Other liabilities(1)		233,738			22,547			—			(295,152		)	—			—		—			—		—		—			—			506,343		(272,605		)
	Total liabilities measured at fair value on a recurring basis		$	340,738		$	22,547		$	—		$	(299,459	)	$	—		$	—	$	—		$	685	$	14,167	$	—		$	—		$	604,168	$	(272,605	)
		-1		Represents certain freestanding and embedded derivatives.
		-2		Represents liabilities related to fixed indexed annuities.
	The following table presents a reconciliation of the beginning and ending balances for fair value measurements for the year ended December 31, 2013, for which the Company has used significant unobservable inputs (Level 3):
																																			Total
																																			Gains (losses)
						Total						Total																							included in
						Realized and Unrealized						Realized and Unrealized																							Earnings
						Gains						Losses																							related to
									Included in						Included in																				Instruments
									Other						Other												Transfers								still held at
			Beginning			Included in			Comprehensive			Included in			Comprehensive												in/out of						Ending		the Reporting
			Balance			Earnings			Income			Earnings			Income			Purchases		Sales			Issuances		Settlements		Level 3			Other			Balance		Date
			(Dollars In Thousands)
	Assets:
	Fixed maturity securities available-for-sale
	Residential mortgage-backed securities		$	4		$	—		$	1,310		$	—		$	(338	)	$	14,349	$	(23	)	$	—	$	—	$	(15,287	)	$	13		$	28	$	—
	Commercial mortgage-backed securities		—			—						—			—			—		—			—		—		—						—		—
	Other asset-backed securities		596,143			—			44,620						(58,937		)	24,931		(62,760		)	—		—		1,227			584			545,808		—
	U.S. government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
	States, municipals, and political subdivisions		4,275			—			—			—			—			—		(600		)	—		—		—			—			3,675		—
	Other government-related securities		20,011			—			2			—			(3		)	—		(20,000		)	—		—		—			(10		)	—		—
	Corporate bonds		167,892			116			8,310			—			(20,118		)	736,012		(67,431		)	—		—		726,760			(1,601		)	1,549,940		—
	Total fixed maturity securities - available-for-sale		788,325			116			54,242			—			(79,396		)	775,292		(150,814		)	—		—		712,700			(1,014		)	2,099,451		—
Fixed maturity securities - trading		—			—			—			(1		)	—			1,582		(72		)	—		—		(1,494		)	(15		)	—		—
Residential mortgage-backed securities
Commercial mortgage-backed securities		—			—			—			—			—			—		—			—		—		—			—			—		—
Other asset-backed securities		70,535			8,785			—			(5,947		)	—			147,224		(29,344		)	—		—		2,210			1,514			194,977		3,588
U.S. government-related securities		—			—			—			—			—			—		—			—		—		—						—		—
States, municipals and political subdivisions		—			—			—			(123		)	—			3,500		—			—		—		(3,377		)	—			—		—
Other government-related securities		—			—			—			—			—			—		—			—		—		—			—			—		—
Corporate bonds		115			1			—			(102		)	—			4,880		(17		)	—		—		24,312			10			29,199		(5		)
Total fixed maturity securities - trading		70,650			8,786			—			(6,173		)	—			157,186		(29,433		)	—		—		21,651			1,509			224,176		3,583
Total fixed maturity securities		858,975			8,902			54,242			(6,173		)	(79,396		)	932,478		(180,247		)	—		—		734,351			495			2,323,627		3,583
Equity securities		65,527			—			—			—			—			2,452		—			—		—					—			67,979		—
Other long-term investments(1)		48,655			100,441			—			(16,117		)	—			—		—			—		—		—			(34,093		)	98,886		84,324
Short-term investments		—			—			—			—			—			—		—			—		—		—			—			—		—
Total investments		973,157			109,343			54,242			(22,290		)	(79,396		)	934,930		(180,247		)	—		—		734,351			(33,598		)	2,490,492		87,907
Total assets measured at fair value on a recurring basis		$	973,157		$	109,343		$	54,242		$	(22,290	)	$	(79,396	)	$	934,930	$	(180,247	)	$	—	$	—	$	734,351		$	(33,598	)	$	2,490,492	$	87,907
Liabilities:
Annuity account balances(2)		$	129,468		$	—		$	—		$	(8,029	)	$	—		$	—	$	—		$	406	$	30,903	$	—		$	—		$	107,000	$	—
Other liabilities(1)		611,437			295,910			—			(52,716		)	—			—		—			—		—		—			134,505			233,738		242,411
Total liabilities measured at fair value on a recurring basis		$	740,905		$	295,910		$	—		$	(60,745	)	$	—		$	—	$	—		$	406	$	30,903	$	—		$	134,505		$	340,738	$	242,411
	-1		Represents certain freestanding and embedded derivatives.
	-2		Represents liabilities related to fixed indexed annuities.
Schedule of the carrying amounts and estimated fair value of the Company's financial instruments					As of December 31,
					2014						2013
			Fair Value		Carrying						Carrying
			Level		Amounts			Fair Values			Amounts			Fair Values
			(Dollars In Thousands)
	Assets:
	Mortgage loans on real estate		3		$	5,133,780		$	5,524,059		$	5,493,492		$	5,956,133
	Policy loans		3		1,758,237			1,758,237			1,815,744			1,815,744
	Fixed maturities, held-to-maturity(1)		3		435,000			458,422			365,000			335,676
	Liabilities:
	Stable value product account balances		3		$	1,959,488		$	1,973,624		$	2,559,552		$	2,566,209
	Annuity account balances		3		10,950,729			10,491,775			11,125,253			10,639,637
	Debt:
	Non-recourse funding obligations(2)		3		$	1,527,752		$	1,753,183		$	1,495,448		$	1,272,425
	Except as noted below, fair values were estimated using quoted market prices.
		-1		Security purchased from unconsolidated subsidiary, Red Mountain LLC.
		-2		Of this carrying amount $435.0 million, fair value of $461.4 million, as of December 31, 2014, and $365.0 million, fair value of  $321.5 million, as of December 31, 2013, relates to non-recourse funding obligations issued by Golden Gate V.

DERIVATIVE_FINANCIAL_INSTRUMEN1

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of realized investment gains (losses) - derivative financial instruments			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Derivatives related to variable annuity contracts:
	Interest rate futures - VA		$	27,801		$	(31,216	)	$	21,138
	Equity futures - VA		(26,104		)	(52,640		)	(50,797		)
	Currency futures - VA		14,433			(469		)	(2,763		)
	Volatility futures - VA		—			—			(132		)
	Variance swaps - VA		(744		)	(11,310		)	(11,792		)
	Equity options - VA		(41,216		)	(95,022		)	(37,370		)
	Volatility options- VA		—			(115		)	—
	Interest rate swaptions - VA		(22,280		)	1,575			(2,260		)
	Interest rate swaps - VA		214,164			(157,408		)	3,264
	Embedded derivative - GMWB		(119,844		)	162,737			(22,120		)
	Funds withheld derivative		47,792			71,862			—
	Total derivatives related to variable annuity contracts		94,002			(112,006		)	(102,832		)
	Derivatives related to FIA contracts:
	Embedded derivative- FIA		(16,932		)	(942		)	—
	Equity futures- FIA		870			173			—
	Volatility futures- FIA		20			(5		)	—
	Equity options- FIA		9,906			1,866			—
	Total derivatives related to FIA contracts		(6,136		)	1,092			—
	Derivatives related to IUL contracts:
	Embedded derivative- IUL		(8		)	—			—
	Equity futures - IUL		15			—			—
	Equity options - IUL		150			—			—
	Total derivatives related to IUL contracts		157			—			—
	Embedded derivative - Modco reinsurance treaties		(105,276		)	205,176			(132,816		)
	Interest rate swaps		—			2,985			(87		)
	Interest rate caps		—			—			(2,666		)
	Derivatives with PLC(1)		4,085			(15,072		)	10,664
	Other derivatives		(324		)	(14		)	(79		)
	Total realized gains (losses) - derivatives		$	(13,492	)	$	82,161		$	(227,816	)
		-1		These derivatives include an interest support, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.
Schedule of realized investment gains (losses) - all other investments			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Modco trading portfolio(1)		$	142,016		$	(178,134	)	$	177,986
	(1) The Company elected to include the use of alternate disclosures for trading activities.
Schedule of gain (loss) on derivatives in cash flow hedging relationship						Amount and Location of
						Gains (Losses)
						Reclassified from			Amount and Location of
			Amount of Gains (Losses)			Accumulated Other			(Losses) Recognized in
			Deferred in			Comprehensive Income			Income (Loss) on
			Accumulated Other			(Loss) into Income (Loss)			Derivatives
			Comprehensive Income			(Effective Portion)			(Ineffective Portion)
			(Loss) on Derivatives			Benefits and settlement			Realized investment
			(Effective Portion)			expenses			gains (losses)
			(Dollars In Thousands)
	For The Year Ended December 31, 2014
	Inflation		$	(4	)	$	(1,777	)	$	(223	)
	Total		$	(4	)	$	(1,777	)	$	(223	)
	For The Year Ended December 31, 2013
	Inflation		1,130			$	(2,349	)	$	(190	)
	Total		$	1,130		$	(2,349	)	$	(190	)
Notional amounts and fair values of derivative financial instruments			As of December 31,
			2014						2013
			Notional			Fair			Notional			Fair
			Amount			Value			Amount			Value
			(Dollars In Thousands)
	Other long-term investments
	Derivatives not designated as hedging instruments:
	Interest rate swaps		$	1,550,000		$	50,743		$	200,000		$	1,961
	Derivatives with PLC(1)		1,497,010			6,077			1,464,164			1,993
	Embedded derivative - Modco reinsurance treaties		25,760			1,051			80,376			1,517
	Embedded derivative - GMWB		1,302,895			37,497			1,921,443			95,376
	Interest rate futures		27,977			938
	Equity futures		26,483			427			3,387			111
	Currency futures		197,648			2,384			14,338			321
	Equity options		1,921,167			163,212			1,376,205			78,277
	Interest rate swaptions		625,000			8,012			625,000			30,291
	Other		242			360			425			473
			$	7,174,182		$	270,701		$	5,685,338		$	210,320
	Other liabilities
	Cash flow hedges:
	Inflation		$	40,469		$	142		$	182,965		$	1,865
	Derivatives not designated as hedging instruments:
	Interest rate swaps		275,000			3,599			1,230,000			153,322
	Variance swaps		—			—			1,500			1,744
	Embedded derivative - Modco reinsurance treaties		2,562,848			311,727			2,578,590			206,918
	Funds withheld derivative		1,233,424			57,305			991,568			34,251
	Embedded derivative - GMWB		1,702,899			63,460			104,180			1,496
	Embedded derivative- FIA		749,933			124,465			244,424			25,324
	Embedded derivative- IUL		12,019			6,691			—			—
	Interest rate futures		—			—			322,902			5,221
	Equity futures		385,256			15,069			164,595			6,595
	Currency futures		—			—			118,008			840
	Equity options		699,295			47,077			257,065			17,558
	Other		—			—			230			27
			$	7,661,143		$	629,535		$	6,196,027		$	455,161
		-1		These derivatives include an interest support, YRT premium support, and portfolio maintenance agreements between certain of the Company’s subsidiaries and PLC.

OFFSETTING_OF_ASSETS_AND_LIABI1

OFFSETTING OF ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2014
OFFSETTING OF ASSETS AND LIABILITIES
Schedule of derivative assets
	The tables below present the derivative assets for the Company as of December 31, 2014 and 2013:
							Net Amounts
					Gross		of Assets		Gross Amounts Not Offset
					Amounts		Presented in		in the Statement of
			Gross		Offset in the		the		Financial Position
			Amounts of		Statement of		Statement of				Cash
			Recognized		Financial		Financial		Financial		Collateral
			Assets		Position		Position		Instruments		Received		Net Amount
			(Dollars In Thousands)
	Offsetting of Derivative Assets
	Derivatives:
	Free-Standing derivatives		$	225,716	$	—	$	225,716	$	53,612	$	73,935	$	98,169
	Total derivatives, subject to a master netting arrangement or similar arrangement		225,716		—		225,716		53,612		73,935		98,169
	Derivatives not subject to a master netting arrangement or similar arrangement
	Embedded derivative - Modco reinsurance treaties		1,051		—		1,051		—		—		1,051
	Embedded derivative - GMWB		37,497		—		37,497		—		—		37,497
	Derivatives with PLC		6,077		—		6,077		—		—		6,077
	Other		360		—		360		—		—		360
	Total derivatives, not subject to a master netting arrangement or similar arrangement		44,985		—		44,985		—		—		44,985
	Total derivatives		270,701		—		270,701		53,612		73,935		143,154
	Total Assets		$	270,701	$	—	$	270,701	$	53,612	$	73,935	$	143,154
							Net Amounts
					Gross		of Assets		Gross Amounts Not Offset
					Amounts		Presented in		in the Statement of
			Gross		Offset in the		the		Financial Position
			Amounts of		Statement of		Statement of				Cash
			Recognized		Financial		Financial		Financial		Collateral
			Assets		Position		Position		Instruments		Received		Net Amount
			(Dollars In Thousands)
	Offsetting of Derivative Assets
	Derivatives:
	Free-Standing derivatives		$	110,983	$	—	$	110,983	$	52,487	$	10,700	$	47,796
	Embedded derivative - Modco reinsurance treaties		1,517		—		1,517		—		—		1,517
	Embedded derivative - GMWB		95,376		—		95,376		—		—		95,376
	Total derivatives, subject to a master netting arrangement or similar arrangement		207,876		—		207,876		52,487		10,700		144,689
	Total derivatives, not subject to a master netting arrangement or similar arrangement		2,444		—		2,444		—		—		2,444
	Total derivatives		210,320		—		210,320		52,487		10,700		147,133
	Total Assets		$	210,320	$	—	$	210,320	$	52,487	$	10,700	$	147,133
Schedule of derivative liabilities
	The tables below present the derivative liabilities for the Company as of December 31, 2014 and 2013:
							Net Amounts
					Gross		of Liabilities		Gross Amounts Not Offset
					Amounts		Presented in		in the Statement of
			Gross		Offset in the		the		Financial Position
			Amounts of		Statement of		Statement of				Cash
			Recognized		Financial		Financial		Financial		Collateral
			Liabilities		Position		Position		Instruments		Paid		Net Amount
			(Dollars In Thousands)
	Offsetting of Derivative Liabilities
	Derivatives:
	Free-Standing derivatives		$	65,887	$	—	$	65,887	$	53,612	$	12,258	$	17
	Total derivatives, subject to a master netting arrangement or similar arrangement		65,887		—		65,887		53,612		12,258		17
	Derivatives not subject to a master netting arrangement or similar arrangement
	Embedded derivative - Modco reinsurance treaties		311,727		—		311,727		—		—		311,727
	Funds withheld derivative		57,305		—		57,305		—		—		57,305
	Embedded derivative - GMWB		63,460		—		63,460		—		—		63,460
	Embedded derivative - FIA		124,465		—		124,465		—		—		124,465
	Embedded derivative - IUL		6,691		—		6,691		—		—		6,691
	Total derivatives, not subject to a master netting arrangement or similar arrangement		563,648		—		563,648		—		—		563,648
	Total derivatives		629,535		—		629,535		53,612		12,258		563,665
	Repurchase agreements(1)		50,000		—		50,000		—		—		50,000
	Total Liabilities		$	679,535	$	—	$	679,535	$	53,612	$	12,258	$	613,665
		-1		Borrowings under repurchase agreements are for a term less than 90 days.
							Net Amounts
					Gross		of Liabilities		Gross Amounts Not Offset
					Amounts		Presented in		in the Statement of
			Gross		Offset in the		the		Financial Position
			Amounts of		Statement of		Statement of				Cash
			Recognized		Financial		Financial		Financial		Collateral
			Liabilities		Position		Position		Instruments		Paid		Net Amount
			(Dollars In Thousands)
	Offsetting of Derivative Liabilities
	Derivatives:
	Free-Standing derivatives		$	187,172	$	—	$	187,172	$	52,487	$	98,359	$	36,326
	Embedded derivative - Modco reinsurance treaties		206,918		—		206,918		—		—		206,918
	Funds withheld derivative		34,251		—		34,251		—		—		34,251
	Embedded derivative - GMWB		1,496		—		1,496		—		—		1,496
	Embedded derivative - FIA		25,324		—		25,324		—		—		25,324
	Total derivatives, subject to a master netting arrangement or similar arrangement		455,161		—		455,161		52,487		98,359		304,315
	Total derivatives, not subject to a master netting arrangement or similar arrangement		—		—		—		—		—		—
	Total derivatives		455,161		—		455,161		52,487		98,359		304,315
	Repurchase agreements(1)		350,000		—		350,000		—		—		350,000
	Total Liabilities		$	805,161	$	—	$	805,161	$	52,487	$	98,359	$	654,315
		-1		Borrowings under repurchase agreements are for a term less than 90 days.

OPERATING_SEGMENTS_Tables

OPERATING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
OPERATING SEGMENTS
Summary of financial information for the Company's segments			For The Year Ended December 31,
			2014			2013			2012
			(Dollars In Thousands)
	Revenues
	Life Marketing		$	1,421,795		$	1,324,409		$	1,233,654
	Acquisitions		1,720,179			1,186,579			1,064,295
	Annuities		785,176			569,004			610,489
	Stable Value Products		127,708			122,974			123,274
	Asset Protection		305,396			296,782			294,146
	Corporate and Other		103,953			104,922			130,202
	Total revenues		$	4,464,207		$	3,604,670		$	3,456,060
	Segment Operating Income (Loss)
	Life Marketing		$	116,875		$	106,812		$	102,114
	Acquisitions		254,021			154,003			171,060
	Annuities		204,015			166,278			117,778
	Stable Value Products		73,354			80,561			60,329
	Asset Protection		26,274			20,148			9,765
	Corporate and Other		(99,048		)	(74,620		)	1,119
	Total segment operating income		575,491			453,182			462,165
	Realized investment (losses) gains - investments(1)		151,035			(140,236		)	188,729
	Realized investment (losses) gains - derivatives		12,263			109,553			(191,315		)
	Income tax expense		(246,838		)	(130,897		)	(151,043		)
	Net income		$	491,951		$	291,602		$	308,536
	Investment gains (losses)(2)		$	198,027		$	(143,984	)	$	174,692
	Less: amortization related to DAC/VOBA and benefits and settlement expenses		46,992			(3,748		)	(14,037		)
	Realized investment gains (losses)- investments		$	151,035		$	(140,236	)	$	188,729
	Derivative gains (losses)(3)		$	(13,492	)	$	82,161		$	(227,816	)
	Less: VA GMWB economic cost		(25,755		)	(27,392		)	(36,501		)
	Realized investment gains (losses)- derivatives		$	12,263		$	109,553		$	(191,315	)
	Net investment income
	Life Marketing		$	553,006		$	521,219		$	486,374
	Acquisitions		874,653			617,298			550,334
	Annuities		465,849			468,329			504,342
	Stable Value Products		107,170			123,798			128,239
	Asset Protection		18,830			19,046			19,698
	Corporate and Other		78,505			86,498			100,351
	Total net investment income		$	2,098,013		$	1,836,188		$	1,789,338
	Amortization of DAC and VOBA
	Life Marketing		$	175,807		$	25,774		$	45,079
	Acquisitions		60,031			72,762			77,251
	Annuities		47,448			31,498			45,319
	Stable Value Products		380			398			947
	Asset Protection		24,169			23,603			22,569
	Corporate and Other		485			625			1,018
	Total amortization of DAC and VOBA		$	308,320		$	154,660		$	192,183
		-1		Includes credit related other-than-temporary impairments of $7.3 million, $22.4 million, and $58.1 million for the year ended December 31, 2014, 2013, and 2012, respectively.
		-2		Includes realized investment gains (losses) before related amortization.
		-3		Includes realized gains (losses) on derivatives before the VA GMWB economic cost.
			Operating Segment Assets
			As of December 31, 2014
			(Dollars In Thousands)
			Life									Stable Value
			Marketing			Acquisitions			Annuities			Products
	Investments and other assets		$	13,858,491		$	19,858,284		$	20,678,948		$	1,958,867
	Deferred policy acquisition costs and value of business acquired		1,973,156			600,482			539,965			621
	Goodwill		—			29,419			—			—
	Total assets		$	15,831,647		$	20,488,185		$	21,218,913		$	1,959,488
			Asset			Corporate						Total
			Protection			and Other			Adjustments			Consolidated
	Investments and other assets		$	832,887		$	9,557,226		$	14,792		$	66,759,495
	Deferred policy acquisition costs and value of business acquired		40,503			319			—			3,155,046
	Goodwill		48,158			—			—			77,577
	Total assets		$	921,548		$	9,557,545		$	14,792		$	69,992,118
			Operating Segment Assets
		As of December 31, 2013
		(Dollars In Thousands)
		Life									Stable Value
		Marketing			Acquisitions			Annuities			Products
Investments and other assets		$	13,135,914		$	20,188,321		$	20,029,310		$	2,558,551
Deferred policy acquisition costs and value of business acquired		2,071,470			799,255			554,974			1,001
Goodwill		—			32,517			—			—
Total assets		$	15,207,384		$	21,020,093		$	20,584,284		$	2,559,552
		Asset			Corporate						Total
		Protection			and Other			Adjustments			Consolidated
Investments and other assets		$	777,387		$	8,006,256		$	16,762		$	64,712,501
Deferred policy acquisition costs and value of business acquired		49,276			646			—			3,476,622
Goodwill		48,158			—			—			80,675
Total assets		$	874,821		$	8,006,902		$	16,762		$	68,269,798

CONSOLIDATED_QUARTERLY_RESULTS1

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Tables)	12 Months Ended
	Dec. 31, 2014
CONSOLIDATED QUARTERLY RESULTS - UNAUDITED
Schedule of unaudited consolidated quarterly operating data		First			Second			Third			Fourth
		Quarter			Quarter			Quarter			Quarter
		(Dollars In Thousands)
	2014
	Premiums and policy fees	$	812,323		$	848,183		$	755,300		$	867,263
	Reinsurance ceded	(333,506		)	(348,255		)	(283,104		)	(430,878		)
	Net of reinsurance ceded	478,817			499,928			472,196			436,385
	Net investment income	514,037			525,576			532,861			525,539
	Realized investment gains (losses)	30,981			42,386			39,299			71,869
	Other income	65,514			71,296			72,404			85,119
	Total revenues	1,089,349			1,139,186			1,116,760			1,118,912
	Total benefits and expenses	937,738			966,571			932,640			888,469
	Income before income tax	151,611			172,615			184,120			230,443
	Income tax expense	49,062			56,572			62,287			78,917
	Net income	$	102,549		$	116,043		$	121,833		$	151,526
	2013
	Premiums and policy fees	$	723,200		$	752,752		$	653,664		$	837,706
	Reinsurance ceded	(325,840		)	(396,777		)	(277,628		)	(387,192		)
	Net of reinsurance ceded	397,360			355,975			376,036			450,514
	Net investment income	439,012			447,064			434,772			515,340
	Realized investment gains (losses)	(5,223		)	(47,636		)	4,263			(13,227		)
	Other income	54,434			60,638			65,523			69,825
	Total revenues	885,583			816,041			880,594			1,022,452
	Total benefits and expenses	775,769			737,114			767,239			902,049
	Income before income tax	109,814			78,927			113,355			120,403
	Income tax expense	35,936			25,923			37,107			31,931
	Net income	$	73,878		$	53,004		$	76,248		$	88,472

BASIS_OF_PRESENTATION_Details

BASIS OF PRESENTATION (Details) (Effect of Change, USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014
Effect of Change
Basis of Presentation
Impact of reclassifications on previously reported net income	$0
Impact of reclassifications on previously reported shareowner equity	$0

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
	item
Valuation of investment securities
Number of primary sources of information used for determining fair value	1
Total number of primary sources of information available for determining fair value	3
Cash
Negative balances due to outstanding checks and drafts		$41.30
Deferred Policy Acquisition Costs
Interest rate assumptions to compute liabilities for future policy benefits, low end of the range (as a percent)	1.00%
Interest rate assumptions to compute liabilities for future policy benefits, high end of the range (as a percent)	6.65%
Value of business acquired
Maximum percentage of accrued interest credited to account balances in case of interest sensitive products	8.75%

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Property and Equipment
Total property and equipment, gross	$168,448	$161,151
Accumulated depreciation	-116,688	-110,080
Total property and equipment	51,760	51,071
Home office building
Property and Equipment
Useful life	39 years
Total property and equipment, gross	75,109	74,313
Furniture
Property and Equipment
Useful life	10 years
Office equipment and machines
Property and Equipment
Useful life	5 years
Software and computers
Property and Equipment
Useful life	3 years
Data processing equipment
Property and Equipment
Total property and equipment, gross	40,568	35,789
Other, principally furniture and equipment
Property and Equipment
Total property and equipment, gross	$52,771	$51,049

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Summarized financial information for the company's segments
Stable value product account balances marketed through structured programs	39.8	$200
Future maturities of stable value products
2015	624.3
2016-2017	791.4
2018-2019	488
Thereafter	55.8
Minimum
Summarized financial information for the company's segments
Maturities of GICs and funding agreements	1 year
Maximum
Summarized financial information for the company's segments
Maturities of GICs and funding agreements	10 years

SUMMARY_OF_SIGNIFICANT_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill
Goodwill impairment	$0
Goodwill	77,577,000	80,675,000	83,773,000
Policyholder Liabilities, Revenues and Benefits Expense
Reserve investment yield assumptions, low end of the range (as a percent)	2.00%
Reserve investment yield assumptions, high end of the range (as a percent)	7.50%
Guaranteed minimum withdrawal benefits (GMWB) | Annuity account
Guaranteed Minimum Withdrawal Benefits
Guaranteed benefit asset, net	$25,900,000
Guaranteed minimum withdrawal benefits (GMWB) | Annuity account | Minimum
Guaranteed Minimum Withdrawal Benefits
Mortality rate assumed (as a percent)	44.50%
Guaranteed minimum withdrawal benefits (GMWB) | Annuity account | Maximum
Guaranteed Minimum Withdrawal Benefits
Mortality rate assumed (as a percent)	100.00%

SUMMARY_OF_SIGNIFICANT_ACCOUNT7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Other changes:
Add: reinsurance	$5,907,662	$6,008,010
Life and health insurance
Activity in the liability for unpaid claims for life and health insurance
Balance beginning of year	334,450	326,633	312,799
Less: reinsurance	117,502	155,341	161,450
Net balance beginning of year	216,948	171,292	151,349
Incurred related to:
Current year	1,075,005	698,028	702,555
Prior year	102,936	68,396	62,926
Total incurred	1,177,941	766,424	765,481
Paid related to:
Current year	1,017,193	682,877	664,744
Prior year	121,966	85,146	80,794
Total paid	1,139,159	768,023	745,538
Other changes:
Acquisition and reserve transfers		47,255
Net balance end of year	255,730	216,948	171,292
Add: reinsurance	163,671	117,502	155,341
Balance end of year	$419,401	$334,450	$326,633

SUMMARY_OF_SIGNIFICANT_ACCOUNT8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Policyholder liabilities, revenues, and benefits expense
Interest rate credited to policy account balances for universal life, low end of range (as a percent)	1.00%
Interest rate credited to policy account balances for universal life, high end of range (as a percent)	8.75%
Direct impact of net investment income on reinsurance cost	$0
Minimum
Policyholder liabilities, revenues, and benefits expense
Interest rate credited to policy account balances for investment products (as a percent)	0.20%
Maximum
Policyholder liabilities, revenues, and benefits expense
Interest rate credited to policy account balances for investment products (as a percent)	10.00%
Annuity account | Guaranteed minimum death benefits (GMDB)
Policyholder liabilities, revenues, and benefits expense
Impact of reinsurance	$21,695,000	$13,608,000	$19,606,000	$9,798,000
Annuity account | Guaranteed minimum death benefits (GMDB) | Minimum
Policyholder liabilities, revenues, and benefits expense
Mortality rate (as a percent)	49.00%
Annuity account | Guaranteed minimum death benefits (GMDB) | Maximum
Policyholder liabilities, revenues, and benefits expense
Mortality rate (as a percent)	80.00%

SIGNIFICANT_ACQUISITIONS_Detai

SIGNIFICANT ACQUISITIONS (Details) (USD $)	12 Months Ended		0 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Oct. 01, 2013
Pro forma condensed consolidated results of operations
Revenue	$4,245,388,000	$4,330,935,000
Net income	325,783,000	365,204,000
MONY
SIGNIFICANT ACQUISITIONS
Percentage of indemnity reinsurance			100.00%
Aggregate purchase price			689,000,000
Ceding commission on reinsurance			370,000,000
Decrease in VOBA due to certain measurement period adjustments	14,000,000
Assets
Fixed maturities, at fair value			6,557,853,000
Equity securities, at fair value			108,413,000
Mortgage loans			830,415,000
Policy loans			967,534,000
Short-term investments			130,963,000
Total investments			8,595,178,000
Cash			216,164,000
Accrued investment income			114,695,000
Accounts and premiums receivable, net of allowance for uncollectible amounts			26,055,000
Reinsurance receivables			422,692,000
Value of business acquired			205,767,000
Other assets			5,104,000
Income tax receivable			21,197,000
Deferred income taxes			188,142,000
Separate account assets			195,452,000
Total assets			9,990,446,000
Liabilities
Future policy benefits and claims			7,645,969,000
Unearned premiums			3,066,000
Total policy liabilities and accruals			7,649,035,000
Annuity account balances			752,163,000
Other policyholders' funds			636,448,000
Other liabilities			66,124,000
Non-recourse funding obligations			2,548,000
Separate account liabilities			195,344,000
Total liabilities			9,301,662,000
Net assets acquired			688,784,000
Pro forma condensed consolidated results of operations
Revenue	203,800,000
Pre-tax net income	$27,900,000

MONY_CLOSED_BLOCK_OF_BUSINESS_1

MONY CLOSED BLOCK OF BUSINESS (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Closed block liabilities
Future policy benefits, policyholders' account balances and other	$6,138,505	$6,261,819
Policyholder dividend obligation	366,745	190,494
Other liabilities	53,838	1,259
Total closed block liabilities	6,559,088	6,453,572
Closed block assets
Fixed maturities, available-for-sale, at fair value	4,524,037	4,113,829
Equity securities, available-for-sale, at fair value	5,387	5,223
Mortgage loans on real estate	448,855	601,959
Policy loans	771,120	802,013
Cash and other invested assets	30,984	140,577
Other assets	221,270	206,938
Total closed block assets	6,001,653	5,870,539
Excess of reported closed block liabilities over closed block assets	557,435	583,033
Portion of above representing accumulated other comprehensive income:
Net unrealized investments gains (losses) net of deferred tax benefit and net of policyholder dividend obligation		-1,994
Future earnings to be recognized from closed block assets and closed block liabilities	557,435	581,039
Deferred tax benefit	0	1,074
Policyholder dividend obligation	106,886	12,720
Reconciliation of the policyholder dividend obligation
Policyholder dividend obligation, at acquisition date	190,494	213,350
Applicable to net revenue (losses)	-910	-10,136
Change in net unrealized investment gains allocated to policyholder obligations	177,161	-12,720
Policyholder dividend obligation, end of period	366,745	190,494
Revenues
Premiums and other income	212,765	64,171
Net investment income	239,028	51,141
Net investment gains	10,528	9,252
Total revenues	462,321	124,564
Benefits and other deductions
Benefits and settlement expenses	417,667	113,564
Other operating expenses	674	548
Total benefits and other deductions	418,341	114,112
Net revenues before income taxes	43,980	10,452
Income tax expense	20,377	3,658
Net revenues	$23,603	$6,794

DAIICHI_MERGER_Details

DAI-ICHI MERGER (Details) (USD $)	0 Months Ended
In Billions, except Per Share data, unless otherwise specified	Feb. 01, 2015	Feb. 01, 2015
DAI-ICHI MERGER
Business Acquisition, Share Price	$70	$70
DaiIchi Life | Subsequent events | PLC
DAI-ICHI MERGER
Business Acquisition, Share Price	$70	$70
Aggregate cash consideration	$5.60

INVESTMENT_OPERATIONS_Details

INVESTMENT OPERATIONS (Details) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Investment operations
Investment income before other investment expenses									$2,228,108,000	$1,944,740,000	$1,889,779,000
Other investment expenses									130,095,000	108,552,000	100,441,000
Net investment income	525,539,000	532,861,000	525,576,000	514,037,000	515,340,000	434,772,000	447,064,000	439,012,000	2,098,013,000	1,836,188,000	1,789,338,000
Net realized gains (losses) for all other investments
Fixed maturities									75,074,000	63,161,000	67,669,000
Equity securities									495,000	3,276,000	-45,000
Impairments on fixed maturity securities									-7,275,000	-19,100,000	-58,144,000
Impairments on equity securities										-3,347,000
Modco trading portfolio									142,016,000	-178,134,000	177,986,000
Other investments									-12,283,000	-9,840,000	-12,774,000
Total realized gains (losses) - investments									198,027,000	-143,984,000	174,692,000
Gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments)									76,700,000	72,600,000	73,200,000
Gross realized losses									8,100,000	27,900,000	60,300,000
Impairment losses on investments available-for-sale									-6,900,000	21,700,000	54,700,000
Fair value (proceeds) of securities in an unrealized gain position sold									1,700,000,000	2,300,000,000	1,600,000,000
Gain realized on the sale of securities in an unrealized gain position									76,700,000	72,600,000	73,200,000
Fair value (proceeds) of securities sold in an unrealized loss position									22,900,000	398,200,000	38,000,000
Loss realized on the sale of securities in an unrealized loss position									1,200,000	6,200,000	5,600,000
Fixed maturities
Investment operations
Investment income before other investment expenses									1,711,722,000	1,508,924,000	1,453,018,000
Equity securities
Investment operations
Investment income before other investment expenses									41,533,000	26,735,000	20,740,000
Mortgage loans.
Investment operations
Investment income before other investment expenses									360,778,000	333,093,000	349,845,000
Investment real estate
Investment operations
Investment income before other investment expenses									4,483,000	3,555,000	3,289,000
Short-term investments
Investment operations
Investment income before other investment expenses									$109,592,000	$72,433,000	$62,887,000

INVESTMENT_OPERATIONS_Details_

INVESTMENT OPERATIONS (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	$31,763,413	$31,541,863
Gross Unrealized Gains	3,274,304	1,730,661
Gross Unrealized Losses	-213,419	-604,304
Fair Value	34,824,298	32,668,220
Total OTTI Recognized in OCI	6,309	928
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Fair Value	485,422	335,676
Trading securities	2,800,000
Amortized Cost, Held-to-maturity
Total	435,000	365,000
Fair Value, Held-to-maturity
Fair Value	485,422	335,676
Fixed maturities:
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	30,898,028	30,849,808
Gross Unrealized Gains	3,238,658	1,724,593
Gross Unrealized Losses	-199,266	-567,972
Fair Value	33,937,420	32,006,429
Total OTTI Recognized in OCI	6,309	928
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost	435,000	365,000
Gross Unrealized Gains	50,422
Gross Unrealized Losses		-29,324
Fair Value	485,422	335,676
Trading securities	2,800,000	2,800,000
Amortized Cost, Available-for-sale
Due in one year or less	1,033,959
Due after one year through five years	7,084,156
Due after five years through ten years	6,203,383
Due after ten years	16,576,530
Total	30,898,028
Fair Value, Available-for-sale
Due in one year or less	1,045,159
Due after one year through five years	7,547,483
Due after five years through ten years	6,519,436
Due after ten years	18,825,342
Total	33,937,420
Amortized Cost, Held-to-maturity
Due after ten years	435,000
Total	435,000
Fair Value, Held-to-maturity
Due after ten years	485,422
Fair Value	485,422	335,676
Residential mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,374,141	1,435,349
Gross Unrealized Gains	56,381	34,255
Gross Unrealized Losses	-12,264	-24,536
Fair Value	1,418,258	1,445,068
Total OTTI Recognized in OCI	6,404	979
Commercial mortgage-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,119,979	963,461
Gross Unrealized Gains	59,637	26,900
Gross Unrealized Losses	-2,364	-19,705
Fair Value	1,177,252	970,656
Other asset-backed securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	857,365	926,396
Gross Unrealized Gains	17,961	15,135
Gross Unrealized Losses	-35,950	-69,548
Fair Value	839,376	871,983
Total OTTI Recognized in OCI	-95	-51
U.S. government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,394,028	1,529,818
Gross Unrealized Gains	44,149	32,150
Gross Unrealized Losses	-9,282	-54,078
Fair Value	1,428,895	1,507,890
Other government-related securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	16,939	49,171
Gross Unrealized Gains	3,233	2,257
Gross Unrealized Losses		-1
Fair Value	20,172	51,427
States, municipals, and political subdivisions
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	1,391,526	1,315,457
Gross Unrealized Gains	296,594	103,663
Gross Unrealized Losses	-431	-8,291
Fair Value	1,687,689	1,410,829
Corporate bonds
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	24,744,050	24,630,156
Gross Unrealized Gains	2,760,703	1,510,233
Gross Unrealized Losses	-138,975	-391,813
Fair Value	27,365,778	25,748,576
Other.
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Amortized Cost	435,000	365,000
Gross Unrealized Gains	50,422
Gross Unrealized Losses		-29,324
Fair Value	485,422	335,676
Fair Value, Held-to-maturity
Fair Value	485,422	335,676
Equity securities
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	713,813	611,473
Gross Unrealized Gains	35,646	6,068
Gross Unrealized Losses	-14,153	-36,332
Fair Value	735,306	581,209
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities	21,500	21,200
Short-term investments
Amortized cost and fair value of the Company's investments classified as available-for-sale
Amortized Cost	151,572	80,582
Fair Value	151,572	80,582
Amortized cost and fair value of the Company's investments classified as held-to-maturity
Trading securities	$95,100	$52,400

INVESTMENT_OPERATIONS_Details_1

INVESTMENT OPERATIONS (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded	$2,589	$10,941	$67,130
Other-than-temporary impairments of investments recorded in earnings	7,275	22,447	58,144
Other-than-temporary impairments of investments recorded in other comprehensive income (loss)	-4,686	-11,506	8,986
Fixed maturities
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded	7,300	7,600	67,100
Other-than-temporary impairments of investments recorded in earnings		22,400	58,100
Other-than-temporary impairments of investments recorded in other comprehensive income (loss)		11,500	9,000
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell	0	0	0
Credit losses on debt securities
Beginning balance	41,674	121,237	69,476
Additions for newly impaired securities		3,516	26,544
Additions for previously impaired securities	2,263	12,066	25,217
Reductions for previously impaired securities due to a change in expected cash flows	-28,474	-87,908
Reductions for previously impaired securities that were sold in the current period		-7,237
Ending balance	15,463	41,674	121,237
Equity securities
INVESTMENT OPERATIONS
Other-than-temporary impairments of investments recorded	4,700	3,300	0
Other-than-temporary impairments related to fixed maturities or equity securities that the entity intended to sell or expected to be required to sell	$0	$0

INVESTMENT_OPERATIONS_Details_2

INVESTMENT OPERATIONS (Details 4) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Fair Value
Less Than 12 Months	$2,232,805,000	$9,868,841,000
12 Months or More	1,904,974,000	1,020,842,000
Total	4,137,779,000	10,889,683,000
Unrealized Loss
Less Than 12 Months	-96,859,000	-489,624,000
12 Months or More	-116,560,000	-114,680,000
Total	-213,419,000	-604,304,000
Available-for-sale securities, fair value	34,824,298,000	32,668,220,000
Available-for-sale securities, amortized cost	31,763,413,000	31,541,863,000
Securities in trading portfolio	2,800,000,000
Non-income producing investments	9,000,000
Policy loans excluding MONY acquisition	1,800,000,000
Interest rate on collateral loans on life insurance policies (as a percent)	13.64%
Minimum
Unrealized Loss
Interest rate on standard policy loans (as a percent)	3.00%
Maximum
Unrealized Loss
Interest rate on standard policy loans (as a percent)	13.64%
Below investment grade
Unrealized Loss
Available-for-sale securities, fair value	1,600,000,000
Available-for-sale securities, amortized cost	1,600,000,000
Securities in trading portfolio	315,100,000
Securities not publicly traded	360,100,000
Fixed maturities:
Unrealized Loss
Available-for-sale securities, fair value	33,937,420,000	32,006,429,000
Available-for-sale securities, amortized cost	30,898,028,000	30,849,808,000
Securities in trading portfolio	2,800,000,000	2,800,000,000
Change in unrealized gains (losses), net of income tax	1,224,248,000	-1,269,277,000	819,152,000
Residential mortgage-backed securities
Fair Value
Less Than 12 Months	165,877,000	332,812,000
12 Months or More	67,301,000	209,818,000
Total	233,178,000	542,630,000
Unrealized Loss
Less Than 12 Months	-9,547,000	-14,050,000
12 Months or More	-2,717,000	-10,486,000
Total	-12,264,000	-24,536,000
Available-for-sale securities, fair value	1,418,258,000	1,445,068,000
Available-for-sale securities, amortized cost	1,374,141,000	1,435,349,000
Commercial mortgage-backed securities
Fair Value
Less Than 12 Months	49,908,000	429,228,000
12 Months or More	102,529,000	13,840,000
Total	152,437,000	443,068,000
Unrealized Loss
Less Than 12 Months	-334,000	-18,467,000
12 Months or More	-2,030,000	-1,238,000
Total	-2,364,000	-19,705,000
Available-for-sale securities, fair value	1,177,252,000	970,656,000
Available-for-sale securities, amortized cost	1,119,979,000	963,461,000
Other asset-backed securities
Fair Value
Less Than 12 Months	108,665,000	175,846,000
12 Months or More	537,488,000	497,512,000
Total	646,153,000	673,358,000
Unrealized Loss
Less Than 12 Months	-6,473,000	-14,555,000
12 Months or More	-29,477,000	-54,993,000
Total	-35,950,000	-69,548,000
Percentage of underlying collateral including student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program ("FFELP"), minimum	97.00%	97.00%
Available-for-sale securities, fair value	839,376,000	871,983,000
Available-for-sale securities, amortized cost	857,365,000	926,396,000
U.S. government-related securities
Fair Value
Less Than 12 Months	231,917,000	891,698,000
12 Months or More	280,803,000	6,038,000
Total	512,720,000	897,736,000
Unrealized Loss
Less Than 12 Months	-3,868,000	-53,508,000
12 Months or More	-5,414,000	-570,000
Total	-9,282,000	-54,078,000
Available-for-sale securities, fair value	1,428,895,000	1,507,890,000
Available-for-sale securities, amortized cost	1,394,028,000	1,529,818,000
Other government-related securities
Fair Value
Less Than 12 Months		10,161,000
Total		10,161,000
Unrealized Loss
Less Than 12 Months		-1,000
Total		-1,000
Available-for-sale securities, fair value	20,172,000	51,427,000
Available-for-sale securities, amortized cost	16,939,000	49,171,000
States, municipals, and political subdivisions
Fair Value
Less Than 12 Months	1,905,000	172,157,000
12 Months or More	10,481,000	335,000
Total	12,386,000	172,492,000
Unrealized Loss
Less Than 12 Months	-134,000	-8,113,000
12 Months or More	-297,000	-178,000
Total	-431,000	-8,291,000
Available-for-sale securities, fair value	1,687,689,000	1,410,829,000
Available-for-sale securities, amortized cost	1,391,526,000	1,315,457,000
Corporate bonds
Fair Value
Less Than 12 Months	1,657,103,000	7,480,163,000
12 Months or More	776,863,000	271,535,000
Total	2,433,966,000	7,751,698,000
Unrealized Loss
Less Than 12 Months	-76,285,000	-353,069,000
12 Months or More	-62,690,000	-38,744,000
Total	-138,975,000	-391,813,000
Available-for-sale securities, fair value	27,365,778,000	25,748,576,000
Available-for-sale securities, amortized cost	24,744,050,000	24,630,156,000
Equity securities
Fair Value
Less Than 12 Months	17,430,000	376,776,000
12 Months or More	129,509,000	21,764,000
Total	146,939,000	398,540,000
Unrealized Loss
Less Than 12 Months	-218,000	-27,861,000
12 Months or More	-13,935,000	-8,471,000
Total	-14,153,000	-36,332,000
Available-for-sale securities, fair value	735,306,000	581,209,000
Available-for-sale securities, amortized cost	713,813,000	611,473,000
Securities in trading portfolio	21,500,000	21,200,000
Change in unrealized gains (losses), net of income tax	$33,642,000	($20,899,000)	$8,484,000

INVESTMENT_OPERATIONS_Details_3

INVESTMENT OPERATIONS (Details 5) (Red Mountain, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	item	item
Red Mountain
Variable Interest Entities
Number of wholly owned subsidiaries that were determined to be VIEs	1	1
Ownership interest through an affiliate (as a percent)	100.00%
Investment to which risk of loss related to the VIE is limited	$10,000
Payments made to guarantee	$0

MORTGAGE_LOANS_Details

MORTGAGE LOANS (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	item
Mortgage loans
Mortgage loan holdings	$5,133,780,000	$5,493,492,000
Portion of loan acquired which is expected to be uncollectible	5,700,000
Percentage of Mortgage Loans on Real Estate	100.00%
Number of single tenants whose exposure represents more than 2.0% of mortgage loans	0
Amount of new loans funded	869,700,000
Average loan size of new loans funded	5,800,000
Average loan size of portfolio	2,800,000
Weighted-average interest rate on mortgage loans (as a percent)	5.72%
Largest single mortgage loan	50,000,000
Amount that would become due in 2015, if loans are called at their next call dates	243,600,000
Amount that would become due in 2016 through 2020, if loans are called at their next call dates	961,800,000
Amount that would become due in 2021 through 2025, if loans are called at their next call dates	392,600,000
Amount that would become due after 2025, if loans are called at their next call dates	120,800,000
Change in the allowance for credit losses
Beginning balance	3,100,000
Ending balance	5,700,000
Retail
Mortgage loans
Percentage of Mortgage Loans on Real Estate	61.70%
Office Buildings
Mortgage loans
Percentage of Mortgage Loans on Real Estate	13.30%
Apartments
Mortgage loans
Percentage of Mortgage Loans on Real Estate	9.60%
Warehouses
Mortgage loans
Percentage of Mortgage Loans on Real Estate	7.80%
Other
Mortgage loans
Percentage of Mortgage Loans on Real Estate	7.60%
All identified states
Mortgage loans
Percentage of Mortgage Loans on Real Estate	71.80%
Texas
Mortgage loans
Percentage of Mortgage Loans on Real Estate	10.10%
Alabama
Mortgage loans
Percentage of Mortgage Loans on Real Estate	8.20%
Georgia
Mortgage loans
Percentage of Mortgage Loans on Real Estate	8.00%
Florida
Mortgage loans
Percentage of Mortgage Loans on Real Estate	7.30%
Tennessee
Mortgage loans
Percentage of Mortgage Loans on Real Estate	6.60%
South Carolina
Mortgage loans
Percentage of Mortgage Loans on Real Estate	4.80%
North Carolina
Mortgage loans
Percentage of Mortgage Loans on Real Estate	4.50%
Utah
Mortgage loans
Percentage of Mortgage Loans on Real Estate	4.20%
New York
Mortgage loans
Percentage of Mortgage Loans on Real Estate	4.20%
Ohio
Mortgage loans
Percentage of Mortgage Loans on Real Estate	4.00%
California
Mortgage loans
Percentage of Mortgage Loans on Real Estate	4.00%
Virginia
Mortgage loans
Percentage of Mortgage Loans on Real Estate	3.00%
Michigan
Mortgage loans
Percentage of Mortgage Loans on Real Estate	2.90%
Maximum
Mortgage loans
Single tenant's exposure as a percentage of mortgage loans	2.20%
Commercial mortgage loans
Mortgage loans
Mortgage loan holdings	5,100,000,000
Portion of loan acquired which is expected to be uncollectible	5,720,000	3,130,000
Mortgage loans having participation feature	553,600,000	666,600,000
Income recognized on participating mortgage loans	16,700,000	17,900,000
Nonperforming mortgage loans, foreclosed properties and restructured loans pursuant to pooling and servicing agreement	24,500,000
Nonperforming mortgage loans, foreclosed properties and restructured loans to invested assets (as a percent)	0.05%
Assets accepted or agreed to be accepted on mortgage loans accounted for as troubled debt restructurings	33,000,000
Principal amount of loans accounted for as troubled debt restructurings satisfied by acceptance of assets	41,700,000
Number of mortgage loans permanently impaired	1
Principal amount of impaired loans accounted for as troubled debt restructurings	12,600,000
Mortgage loans accounted for as troubled debt restructurings	7,300,000
Reduction in the entity's investment in mortgage loans, net of existing allowances for mortgage loan losses	10,300,000
Remaining mortgage loan transactions accounted for as troubled debt restructurings net of reserves	23,300,000
Number of loan categories	2
Loans not subject to a pooling and servicing agreement which are either nonperforming or restructured	24,500,000
Nonperforming loans not subject to a pooling or servicing agreement that have been restructured	1,500,000
Nonperforming loans not subject to a pooling and servicing agreement that were foreclosed	1,200,000
Loans subject to a pooling and servicing agreement which are nonperforming	0
Change in the allowance for credit losses
Beginning balance	3,130,000	2,875,000
Charge offs	-675,000	-6,838,000
Recoveries	-2,600,000	-1,016,000
Provision	5,865,000	8,109,000
Ending balance	$5,720,000	$3,130,000
Commercial mortgage loans | Minimum
Mortgage loans
Period for exercise of call options or interest rate reset options	3 years
Commercial mortgage loans | Maximum
Mortgage loans
Period for exercise of call options or interest rate reset options	10 years
Loan-to-value ratio with participating interest (as a percent)	85.00%

MORTGAGE_LOANS_Details_2

MORTGAGE LOANS (Details 2) (Commercial mortgage loans, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
	item	item
Commercial mortgage loans
Delinquent loans
Past due period at which to cease carrying accrued interest on delinquent loans	90 days
Past due period at which to initiate foreclosure proceedings	90 days
30-59 Days Delinquent	$8,972	$14,368
Greater than 90 Days Delinquent	1,484	2,208
Total Delinquent	$10,456	$16,576
Number of loans, 30-59 Days Delinquent	4	8
Number of loans, Greater than 90 Days Delinquent	1	1
Number of loans, Total Delinquent	5	9

MORTGAGE_LOANS_Details_3

MORTGAGE LOANS (Details 3) (Commercial mortgage loans, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Commercial mortgage loans
Commercial mortgage loans:
Maximum number of days accrued interest on impaired loans	90 days
With no related allowance recorded
Recorded Investment		$2,208
Unpaid Principal Balance		2,208
Average Recorded Investment		2,208
Interest Income Recognized		31
With an allowance recorded
Recorded Investment	19,632	21,288
Unpaid Principal Balance	20,603	21,281
Related Allowance	5,720	3,130
Average Recorded Investment	3,272	5,322
Interest Income Recognized	1,224	304
Cash Basis Interest Income	$1,280	$304

MORTGAGE_LOANS_Details_4

MORTGAGE LOANS (Details 4) (Commercial mortgage loans, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
	item
Commercial mortgage loans
Troubled debt restructuring:
Number of Contracts	6
Pre-Modification Outstanding Recorded Investment	$28,648
Post-Modification Outstanding Recorded Investment	$19,593

DEFERRED_POLICY_ACQUISITION_CO2

DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Balances and changes in DAC
Balance, beginning of period	$2,720,604,000	$2,493,729,000
Capitalization of commissions, sales and issue expenses	293,672,000	345,885,000
Amortization	-194,517,000	-112,117,000
Change in unrealized investment gains and losses	-166,694,000	-6,893,000
Balance, end of period	2,653,065,000	2,720,604,000
Balances and changes in VOBA
Balance, beginning of period	756,018,000	731,627,000
Acquisitions		49,643,000
Amortization	-113,803,000	-42,543,000
Change in unrealized gains and losses	-140,234,000	17,291,000
Balance, end of period	501,981,000	756,018,000
MONY
Balances and changes in VOBA
Acquisitions	205,700,000
Amount ceded to reinsurers	$156,100,000

GOODWILL_Detail

GOODWILL (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$80,675	$83,773
Tax benefit of excess tax goodwill	-3,098	-3,098
Balance at the end of the period	77,577	80,675
Decrease in goodwill balance	3,098	3,098
Acquisitions
Changes in the carrying amount of goodwill
Balance at the beginning of the period	32,517	35,615
Tax benefit of excess tax goodwill	-3,098	-3,098
Balance at the end of the period	29,419	32,517
Decrease in goodwill balance	3,098	3,098
Asset Protection
Changes in the carrying amount of goodwill
Balance at the beginning of the period			48,158
Balance at the end of the period	$48,158	$48,158	$48,158

CERTAIN_NONTRADITIONAL_LONGDUR2

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances	$13,157,429,000	$12,791,438,000
Annuity account | CALIC
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Average attained age of contract holders	65 years
Percentage of variable annuity business reinsured	100.00%
Annuity account | Acquisitions | CALIC
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable	11,600,000
Annuity account | Guaranteed minimum death benefits (GMDB)
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Interest rate at which last anniversary date account value is compounded (as a percent)	5.00%
Mean investment performance (as a percent)	6.18%
Lapse, low end of range (as a percent)	2.20%
Lapse, high end of range (as a percent)	33.00%
Average discount rate (as a percent)	6.00%
Separate account balances	13,000,000,000
Guaranteed amount payable	108,600,000
Average attained age of contract holders	69 years
Guaranteed amount payable with GMDB reserve	21,695,000	13,608,000	19,606,000
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Balance at the beginning of the period	13,608,000	19,606,000	9,798,000
Incurred guarantee benefits	10,130,000	-3,133,000	14,087,000
Less: Paid guarantee benefits	2,043,000	2,865,000	4,279,000
Balance at the end of the period	21,695,000	13,608,000	19,606,000
Annuity account | Guaranteed minimum death benefits (GMDB) | Minimum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Mortality rate assumed (as a percent)	49.00%
Annuity account | Guaranteed minimum death benefits (GMDB) | Maximum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Mortality rate assumed (as a percent)	80.00%
Annuity account | Guaranteed minimum death benefits (GMDB) | Annuities
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable	93,100,000
Guaranteed amount payable with GMDB reserve	21,400,000
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Balance at the end of the period	21,400,000
Annuity account | Guaranteed minimum death benefits (GMDB) | Acquisitions
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Guaranteed amount payable	15,500,000
Guaranteed amount payable with GMDB reserve	300,000
Activity relating to GMDB reserves (excluding those 100% reinsured under the Modco agreement)
Balance at the end of the period	300,000
Annuity account | Guaranteed minimum withdrawal benefits (GMWB)
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Separate account balances	$9,700,000,000
Annuity account | Guaranteed minimum withdrawal benefits (GMWB) | Minimum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Mortality rate assumed (as a percent)	44.50%
Annuity account | Guaranteed minimum withdrawal benefits (GMWB) | Maximum
CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS
Mortality rate assumed (as a percent)	100.00%

CERTAIN_NONTRADITIONAL_LONGDUR3

CERTAIN NONTRADITIONAL LONG-DURATION CONTRACTS (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Activity in the Company's deferred sales inducement asset
Deferred asset, beginning of period	$146,651	$143,949	$125,527
Amounts deferred	18,302	15,274	23,362
Amortization	-9,803	-12,572	-4,940
Deferred asset, end of period	155,150	146,651	143,949
Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts	12,971,792	12,590,291
Equity mutual funds | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts	7,834,480	7,984,198
Fixed income mutual funds | Annuity account
Certain Nontraditional Long-duration Contracts
Account balances of variable annuities with guarantees invested in variable annuity separate accounts	$5,137,312	$4,606,093

REINSURANCE_Details

REINSURANCE (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2008	Dec. 31, 2005
REINSURANCE
Percentage of the face value of life insurance in-force reinsured	51.00%
Single insured life
REINSURANCE
Amount of insurance retained before revision			$500,000
Amount of insurance retained - certain newly issued traditional life products			1,000,000
Amount of insurance retained - certain traditional and universal life products		$2,000,000
Concentrated credit risk
REINSURANCE
Percentage of the face value of life insurance in-force reinsured	22.00%
Life insurance in-force reinsured, concentrated number of reinsurers	3

REINSURANCE_Details_2

REINSURANCE (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net life insurance in-force
Direct life insurance in-force	$721,036,332,000	$726,697,151,000	$706,415,969,000
Amounts ceded to other companies	388,890,060,000	416,809,287,000	444,950,866,000
Amounts assumed from other companies	43,237,358,000	46,752,176,000	30,470,432,000
Net premiums	375,383,630,000	356,640,040,000	291,935,535,000
Percentage of amount assumed to net	11.50%	13.10%	10.40%
Effect of reinsurance on premiums written and earned
Gross Amount	2,903,656,000	2,628,133,000	2,481,501,000
Assumed from Other Companies	379,413,000	339,189,000	317,889,000
Ceded to Other Companies	1,395,743,000	1,387,437,000	1,310,097,000
Net Amount	1,887,326,000	1,579,885,000	1,489,293,000
Reinsurance receivables	5,900,000,000	6,000,000,000
Ceded benefits which are recoverable from reinsurers	120,500,000	79,700,000
Receivables related to insurance assumed	65,800,000	66,100,000
Life insurance
Effect of reinsurance on premiums written and earned
Gross Amount	2,603,956,000	2,371,871,000	2,226,614,000
Assumed from Other Companies	349,934,000	306,921,000	281,711,000
Ceded to Other Companies	1,279,908,000	1,299,631,000	1,228,444,000
Net Amount	1,673,982,000	1,379,161,000	1,279,881,000
Percentage of amount assumed to net	20.90%	22.30%	22.00%
Annuity policy fees	92,800,000	88,700,000	103,800,000
Accident/health insurance
Effect of reinsurance on premiums written and earned
Gross Amount	81,037,000	45,262,000	38,873,000
Assumed from Other Companies	20,804,000	24,291,000	29,413,000
Ceded to Other Companies	42,741,000	20,011,000	12,065,000
Net Amount	59,100,000	49,542,000	56,221,000
Percentage of amount assumed to net	35.20%	49.00%	52.30%
Property and liability insurance
Effect of reinsurance on premiums written and earned
Gross Amount	218,663,000	211,000,000	216,014,000
Assumed from Other Companies	8,675,000	7,977,000	6,765,000
Ceded to Other Companies	73,094,000	67,795,000	69,588,000
Net Amount	$154,244,000	$151,182,000	$153,191,000
Percentage of amount assumed to net	5.60%	5.30%	4.40%

REINSURANCE_Details_3

REINSURANCE (Details 3) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Reinsurance
Reinsurance Recoverables	$5,907,662	$6,008,010
Concentrated credit risk | Security Life of Denver Insurance Co. | A
Reinsurance
Reinsurance Recoverables	842,100	819,300
Concentrated credit risk | Swiss Re Life & Health America, Inc. | A+
Reinsurance
Reinsurance Recoverables	820,900	823,000
Concentrated credit risk | Lincoln National Life Insurance Co. | A+
Reinsurance
Reinsurance Recoverables	556,300	553,700
Concentrated credit risk | Transamerica Life Insurance Co. | A+
Reinsurance
Reinsurance Recoverables	497,700	531,100
Concentrated credit risk | RGA Reinsurance Co. | A+
Reinsurance
Reinsurance Recoverables	412,400	419,100
Concentrated credit risk | SCOR Global Life USA Reinsurance Company | A
Reinsurance
Reinsurance Recoverables	411,800	402,700
Concentrated credit risk | American United Life Insurance Co. | A+
Reinsurance
Reinsurance Recoverables	336,100	342,200
Concentrated credit risk | Scottish Re (U.S.), Inc.
Reinsurance
Reinsurance Recoverables	298,000	305,100
Concentrated credit risk | Centre Reinsurance (Bermuda) Ltd
Reinsurance
Reinsurance Recoverables	260,900	281,600
Concentrated credit risk | Employers Reassurance Corporation | A-
Reinsurance
Reinsurance Recoverables	$254,300	$289,200

DEBT_AND_OTHER_OBLIGATIONS_Det

DEBT AND OTHER OBLIGATIONS (Details) (USD $)	12 Months Ended		0 Months Ended	12 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Feb. 02, 2015	Dec. 31, 2012	Oct. 10, 2012	Jun. 25, 2014	Aug. 07, 2013	Apr. 23, 2010	Dec. 10, 2010
DEBT AND OTHER OBLIGATIONS
Non-recourse funding obligations	$1,527,752,000	$1,495,448,000
Repurchase of outstanding non-recourse funding obligations	37,700,000	68,500,000
Pre-tax gain on repurchase of debt	7,400,000	15,400,000
Repurchase Program Borrowings
Term of repurchase borrowings	90 days
Fair value of securities pledged under the repurchase program	55,100,000
Repurchase obligation	50,000,000	350,000,000
Average borrowing rate (as a percent)	0.16%
Maximum outstanding balance	633,700,000	815,000,000
Average daily balance	470,400,000	496,900,000
Average daily borrowing rate (as a percent)	0.11%	0.11%
Outstanding balance related to repurchase program borrowings		350,000,000
Credit facility
DEBT AND OTHER OBLIGATIONS
Line of credit, maximum borrowing capacity	750,000,000
Line of credit, maximum borrowing capacity to be granted upon entity's request	1,000,000,000
Facility fee percentage	0.18%
2012 Credit Facility
DEBT AND OTHER OBLIGATIONS
Line of credit, amount outstanding	55,000,000
2012 Credit Facility | Administrative agent's prime rate
DEBT AND OTHER OBLIGATIONS
Base of floating rate interest payments	Administrative Agent's prime rate
2012 Credit Facility | Federal funds rate
DEBT AND OTHER OBLIGATIONS
Base of floating rate interest payments	Federal Funds rate
Interest rate added to the base rate (as a percent)	0.50%
2012 Credit Facility | LIBOR One-Month Rate
DEBT AND OTHER OBLIGATIONS
Base of floating rate interest payments	one-month LIBOR
Interest rate added to the base rate (as a percent)	1.00%
2015 Credit Facility
DEBT AND OTHER OBLIGATIONS
Line of credit, maximum borrowing capacity	1,000,000,000
Line of credit, maximum borrowing capacity to be granted upon entity's request	1,250,000,000
Facility fee percentage			0.15%
Credit facility adjusted upon ratings upgrade percentage			0.13%
2015 Credit Facility | Administrative agent's prime rate
DEBT AND OTHER OBLIGATIONS
Base of floating rate interest payments	Administrative Agent's prime rate
2015 Credit Facility | Federal funds rate
DEBT AND OTHER OBLIGATIONS
Base of floating rate interest payments	Federal Funds rate
Interest rate added to the base rate (as a percent)	0.50%
2015 Credit Facility | LIBOR One-Month Rate
DEBT AND OTHER OBLIGATIONS
Base of floating rate interest payments	one month LIBOR
Interest rate added to the base rate (as a percent)	1.00%
Non-recourse funding obligations letters of credit, and other temporary borrowings
Repurchase Program Borrowings
Interest expense	118,600,000	111,400,000		92,900,000
Increase (decrease) in interest expense	7,200,000
Golden Gate Captive Insurance Company (Golden Gate)
DEBT AND OTHER OBLIGATIONS
Non-recourse funding obligations	800,000,000
Year-to-date weighted-average interest rate of non-recourse funding obligations (as a percent)	7.86%
Golden Gate Captive Insurance Company (Golden Gate) | Non-recourse funding obligations
DEBT AND OTHER OBLIGATIONS
Number of series of non-recourse funding obligations	3
Non-recourse obligations	800,000,000
Golden Gate Captive Insurance Company (Golden Gate) | Series A1 non-recourse funding obligations
DEBT AND OTHER OBLIGATIONS
Non-recourse obligations	400,000,000
Stated interest rate (as a percent)	7.38%
Golden Gate Captive Insurance Company (Golden Gate) | Series A2 non-recourse funding obligations
DEBT AND OTHER OBLIGATIONS
Non-recourse obligations	100,000,000
Stated interest rate (as a percent)	8.00%
Golden Gate Captive Insurance Company (Golden Gate) | Series A3 non-recourse funding obligations
DEBT AND OTHER OBLIGATIONS
Non-recourse obligations	300,000,000
Stated interest rate (as a percent)	8.45%
Golden Gate II Captive Insurance Company (Golden Gate II)
DEBT AND OTHER OBLIGATIONS
Outstanding non-recourse funding obligations	575,000,000
Non-recourse funding obligations held by external parties	144,900,000
Non-recourse funding obligations held by nonconsolidated affiliates	145,300,000
Non-recourse funding obligations held by consolidated subsidiaries of the Company	284,800,000
Payments made under the agreements	0
Amount of collateralized support agreement obligations	0
Non-recourse funding obligations	290,248,000
Year-to-date weighted-average interest rate of non-recourse funding obligations (as a percent)	1.13%
PLC | Credit facility
DEBT AND OTHER OBLIGATIONS
Base of floating rate interest payments	LIBOR
PLC | 2012 Credit Facility
DEBT AND OTHER OBLIGATIONS
Line of credit, amount outstanding	450,000,000
Base of floating rate interest payments	LIBOR
Interest rate added to the base rate (as a percent)	1.20%
PLC | 2015 Credit Facility
DEBT AND OTHER OBLIGATIONS
Line of credit, amount outstanding	390,000,000
Base of floating rate interest payments	LIBOR
Interest rate added to the base rate (as a percent)	1.20%
Golden Gate V and Red Mountain
DEBT AND OTHER OBLIGATIONS
Transaction period of financing for reserves related to a block of universal life insurance policies with secondary guarantees					20 years
Maximum amount to be financed for reserves related to a block of universal life insurance policies with secondary guarantees					945,000,000
Red Mountain
DEBT AND OTHER OBLIGATIONS
Initial principal amount of note for deposit to a reinsurance trust					275,000,000
Maximum principal amount of note for deposit to a reinsurance trust					945,000,000
Credit enhancement period for Red Mountain note					20 years
Principal balance of note	435,000,000
Golden Gate V
DEBT AND OTHER OBLIGATIONS
Stated interest rate (as a percent)	6.25%
Future scheduled capital contributions to prefund credit enhancements fees amount	139,600,000
Payments made under the agreements	0
Maximum principal amount of non-recourse funding obligation	945,000,000
Non-recourse funding obligations	435,000,000
Year-to-date weighted-average interest rate of non-recourse funding obligations (as a percent)	6.25%
Golden Gate V | Non-recourse funding obligations
Repurchase Program Borrowings
Increase (decrease) in interest expense	4,200,000
Golden Gate III Vermont Captive Insurance Company (Golden Gate III)
DEBT AND OTHER OBLIGATIONS
Payments made under the agreements	0
Maximum LOC borrowing capacity	930,000,000					915,000,000	710,000,000	505,000,000
Maximum stated amount up to which LOC may be increased prior to amendment						720,000,000	610,000,000
Maximum stated amount up to which LOC may be increased	935,000,000					935,000,000	720,000,000
Letter of credit term	15 years
Future scheduled capital contributions amount	122,500,000
Number of installments for payment of capital contributions amount	3
Golden Gate IV Vermont Captive Insurance Company (Golden Gate IV)
DEBT AND OTHER OBLIGATIONS
Payments made under the agreements	0
Maximum LOC borrowing capacity	750,000,000								270,000,000
Maximum stated amount up to which LOC may be increased	790,000,000
Letter of credit term	12 years
Golden Gate III and Golden Gate IV
Repurchase Program Borrowings
Increase (decrease) in interest expense	3,000,000
MONY
DEBT AND OTHER OBLIGATIONS
Non-recourse funding obligations	$2,504,000
Year-to-date weighted-average interest rate of non-recourse funding obligations (as a percent)	6.63%

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	item
Future minimum rental payments required under operating leases
Outstanding mortgage loan commitments	$537,700,000	$322,800,000
Average rate (as a percent)	4.61%	4.93%
Estimated income tax payment if IRS prevails on every issue identified in audit	136,000
Administrative and marketing office space
Operating leased assets
Number of cities in which the company leases properties	19
Rental expense	10,800,000	11,200,000	11,200,000
Aggregate annualized rent	6,500,000
Future minimum rental payments required under operating leases
2015	5,911,000
2016	4,942,000
2017	2,750,000
2018	2,111,000
2019	1,879,000
Thereafter	7,488,000
Administrative and marketing office space | Minimum
Operating leased assets
Lease period	3 years
Administrative and marketing office space | Maximum
Operating leased assets
Lease period	10 years
Administrative and Marketing Office Space Birmingham excluding Home Office
Operating leased assets
Area leased in Birmingham (in square feet)	24,090
Building contiguous to home office
Future minimum rental payments required under operating leases
2015	1,233,000
2016	1,236,000
2017	1,233,000
2018	76,208,000
Approximate price for which the company may purchase building at the end of lease term	$75,000,000
Base rate	LIBOR

COMMITMENTS_AND_CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details 2) (Targeted multi-state examination, USD $)	Dec. 31, 2014
In Millions, unless otherwise specified
Targeted multi-state examination
Commitment and contingency
Administrative and/or examination fees which the insurance regulators could demand, minimum	$0
Administrative and/or examination fees which the insurance regulators could demand, maximum	$3.50

SHAREOWNERS_EQUITY_Details

SHAREOWNER'S EQUITY (Details) (PLC, USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
PLC
SHAREOWNER'S EQUITY
Number of shares of non-voting preferred stock owned in the subsidiary, PL&A	2,000
Amount of PL&A statutory earnings in immediately the preceding fiscal year, which must be exceeded for preferred stock to pay noncumulative participating dividends	$1
Dividends received by PLC on preferred stock holdings in PL & A	$0	$0	$0

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	item	item
Performance awards
Stock-based compensation
Performance shares award issued	203,295	298,500
PLC
No. of SARs
Number of shares of common stock that may be issued under plans approved by shareowners	9,500,000
PLC | Performance awards
Stock-based compensation
Period over which ROE is calculated	3 years	3 years
Minimum percentage of the company's ROE to earn awards under 2014 performance awards	10.50%	10.00%
Number of awards earned when ROE is below specified floor percentage	0	0
Minimum percentage of Company's ROE to earn maximum awards under 2014 performance awards	12.00%	11.50%
Performance shares award issued	203,295	298,500	306,100	191,100
Estimated fair value of performance shares issued	$10,484	$9,328	$8,608	$5,433
PLC | SARs
Stock-based compensation
Performance shares award issued	0	0	0
Expiration period from date of grant	10 years
Exercisable period of grants from grant date	5 years
Beginning of annual installments from date of grant	1 year
Weighted-Average Base Price per share
Balance at the beginning of the period (in dollars per share)	$23.08	$22.15	$22.27
SARs exercised / forfeited (in dollars per share)	$22.07	$18.54	$22.60
Balance at the end of the period (in dollars per share)	$30.41	$23.08	$22.15
No. of SARs
Balance at the beginning of the period (in shares)	1,305,101	1,641,167	2,274,229
SARs exercised / forfeited (in shares)	-1,147,473	-336,066	-633,062
Balance at the end of the period (in shares)	157,628	1,305,101	1,641,167
PLC | SARs | Minimum
Stock-based compensation
Number of annual installments to exercise stock appreciation rights	3
PLC | SARs | Maximum
Stock-based compensation
Number of annual installments to exercise stock appreciation rights	4

STOCKBASED_COMPENSATION_Detail1

STOCK-BASED COMPENSATION (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014
Base Price - $41.05
Stock-based compensation
Base Price (in dollars per share)	$41.05
SARs Outstanding (in shares)	10,000
Remaining Life	1 year
Currently Exercisable (in shares)	10,000
Base Price - $43.46
Stock-based compensation
Base Price (in dollars per share)	$43.46
SARs Outstanding (in shares)	22,300
Remaining Life	3 years
Currently Exercisable (in shares)	22,300
Base Price - $ 38.59
Stock-based compensation
Base Price (in dollars per share)	$38.59
SARs Outstanding (in shares)	52,000
Remaining Life	4 years
Currently Exercisable (in shares)	52,000
Base Price - $3.50
Stock-based compensation
Base Price (in dollars per share)	$3.50
SARs Outstanding (in shares)	46,110
Remaining Life	5 years
Currently Exercisable (in shares)	46,110
Base Price - $18.36
Stock-based compensation
Base Price (in dollars per share)	$18.36
SARs Outstanding (in shares)	27,218
Remaining Life	6 years
Currently Exercisable (in shares)	27,218

STOCKBASED_COMPENSATION_Detail2

STOCK-BASED COMPENSATION (Details 3) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
PLC
Grant date fair values
Expenses recorded for stock-based compensation plans	$25,900,000	$15,700,000	$10,300,000
Expenses associated with stock-based compensation plans for compensations awarded to employees	6,500,000	4,500,000	3,900,000
Total compensation cost related to non-vested stock-based compensation not yet recognized	27,000,000
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	2,154,679
Weighted-average exercise price of outstanding options, warrants and rights (in dollars per share)	$22.07
Number of securities remaining available for future issuance under equity compensation plans, excluding securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	4,092,546
PLC | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	1,960,959
Weighted-average exercise price of outstanding options, warrants and rights (in dollars per share)	$22.07
Number of securities remaining available for future issuance under equity compensation plans, excluding securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	4,092,546
PLC | Equity compensation plans not approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	193,720
Deferred Compensation Plan for Officers | PLC | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	475,386
Deferred Compensation Plan for Officers | PLC | Equity compensation plans not approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	41,011
Deferred Compensation Plan for Directors Who Are Not Employees of the Company | PLC | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	162,429
Deferred Compensation Plan for Directors Who Are Not Employees of the Company | PLC | Equity compensation plans not approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	152,709
Performance awards
Grant date fair values
Awards issued (in shares)	203,295	298,500
Performance awards | PLC
Grant date fair values
Awards issued (in shares)	203,295	298,500	306,100	191,100
Fair values of awards at grant date	10,484,000	9,328,000	8,608,000	5,433,000
Performance awards | PLC | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	907,487
SARs | PLC
Assumptions used in the model for SARs granted
Expected volatility (as a percent)	69.40%
Expected risk-free interest rate (as a percent)	2.60%
Expected dividend rate (as a percent)	2.40%
Expected forfeiture rate (as a percent)	0.00%
Grant date fair values
Awards issued (in shares)	0	0	0
Vesting period	5 years
SARs | PLC | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	102,458
Number of shares of common stock assumed to be payable with respect to each outstanding award	1
Restricted stock units | PLC
Grant date fair values
Awards issued (in shares)	98,700	166,850
Fair values of awards at grant date	$5,100,000	$5,500,000
Restricted stock units | PLC | Equity compensation plans approved by shareowners
Additional equity compensation plan information
Number of securities to be issued upon exercise of outstanding options, warrants and rights (in shares)	313,199
Restricted stock units | Vesting after three years from grant date | PLC
Grant date fair values
Vesting percentage	50.00%
Vesting period	3 years
Restricted stock units | Vesting after four years from grant date | PLC
Grant date fair values
Vesting period	4 years

EMPLOYEE_BENEFIT_PLANS_Details

EMPLOYEE BENEFIT PLANS (Details) (PLC, USD $)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2014
EMPLOYEE BENEFIT PLANS
Threshold age plus vesting period of active employees to determine type of benefit eligibility		55 years
Adjusted funding target percentage to be maintained, minimum		80.00%
Percentage of funded status to be maintained for PBGC reporting purposes		80.00%
Minimum
EMPLOYEE BENEFIT PLANS
Estimated contribution by employer		$1,000,000
Maximum
EMPLOYEE BENEFIT PLANS
Estimated contribution by employer		10,000,000
2014 plan year
EMPLOYEE BENEFIT PLANS
Contribution made by the company to its defined benefit pension plan	2,200,000	6,500,000
2013 plan year
EMPLOYEE BENEFIT PLANS
Contribution made by the company to its defined benefit pension plan		$9,000,000

EMPLOYEE_BENEFIT_PLANS_Details1

EMPLOYEE BENEFIT PLANS (Details 2) (PLC, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	$249,453	$207,999
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	219,152	223,319
Service cost - benefits earned during the period	9,411	9,345	9,145
Interest cost on projected benefit obligation	10,493	8,985	8,977
Actuarial (gain) or loss	38,110	-8,172
Benefits paid	-9,835	-14,325
Projected benefit obligation at end of year	267,331	219,152	223,319
Change in plan assets:
Fair value of plan assets at beginning of year	180,173	152,187
Actual return on plan assets	17,921	33,368
Employer contributions	15,513	8,943
Benefits paid	-9,835	-14,325
Fair value of plan assets at end of year	203,772	180,173	152,187
After reflecting FASB guidance:
Funded status	-63,559	-38,979
Amounts recognized in the balance sheet:
Other liabilities	-63,559	-38,979
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss	80,430	54,897
Prior service cost/(credit)	-1,033	-1,425
Net transition asset	79,397	53,472
Unfunded Excess Benefits Plan
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	47,368	36,306
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	39,679	42,971
Service cost - benefits earned during the period	954	1,037	867
Interest cost on projected benefit obligation	1,696	1,387	1,473
Actuarial (gain) or loss	9,153	-1,505
Benefits paid	-1,907	-4,211
Projected benefit obligation at end of year	49,575	39,679	42,971
Change in plan assets:
Employer contributions	1,907	4,211
Benefits paid	-1,907	-4,211
After reflecting FASB guidance:
Funded status	-49,575	-39,679
Amounts recognized in the balance sheet:
Other liabilities	-49,575	-39,679
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss	20,983	13,346
Prior service cost/(credit)	24	36
Net transition asset	21,007	13,382
Retiree medical plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	447	788
Service cost - benefits earned during the period	2	4
Interest cost on projected benefit obligation	4	5
Actuarial (gain) or loss	30	29
Plan participant contributions	254	289
Benefits paid	-490	-668
Projected benefit obligation at end of year	247	447
Change in plan assets:
Benefits paid	-490	-668
Group life insurance plan
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	8,653	10,070
Service cost - benefits earned during the period	97	144
Interest cost on projected benefit obligation	416	405
Actuarial (gain) or loss	694	-1,620
Benefits paid	-572	-346
Projected benefit obligation at end of year	9,288	8,653
Change in plan assets:
Benefits paid	($572)	($346)

EMPLOYEE_BENEFIT_PLANS_Details2

EMPLOYEE BENEFIT PLANS (Details 3) (PLC)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Weighted-average assumptions used to determine benefit obligations
Period for which the average and annualized return on Barclay's short treasury index is considered for assessment of reasonableness of long term rate of return assumption	20 years
Defined Benefit Pension Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.95%	4.86%
Rate of compensation increase (as a percent)		3.00%
Expected long-term return on plan assets (as a percent)	7.50%	7.50%
Period for which annualized returns are obtained for each asset class	25 years
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	4.86%	4.07%	4.62%
Rate of compensation increase (as a percent)	3.00%	3.00%
Expected long-term return on plan assets (as a percent)	7.50%	7.50%	7.75%
Defined Benefit Pension Plan | Minimum
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)			2.50%
Defined Benefit Pension Plan | Maximum
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)			3.00%
Defined Benefit Pension Plan | Prior to Age 40
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	4.75%
Defined Benefit Pension Plan | Age 40 and Above
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	3.75%
Unfunded Excess Benefits Plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	3.65%	4.30%
Rate of compensation increase (as a percent)		4.00%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	4.30%	3.37%	4.07%
Rate of compensation increase (as a percent)	4.00%	4.00%
Unfunded Excess Benefits Plan | Minimum
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)			3.50%
Unfunded Excess Benefits Plan | Maximum
Weighted-average assumptions used to determine net periodic benefit cost
Rate of compensation increase (as a percent)			4.00%
Unfunded Excess Benefits Plan | Prior to Age 40
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	4.75%
Unfunded Excess Benefits Plan | Age 40 and Above
Weighted-average assumptions used to determine benefit obligations
Rate of compensation increase (as a percent)	3.75%
Retiree medical plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	1.27%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	1.26%
Group life insurance plan
Weighted-average assumptions used to determine benefit obligations
Discount rate (as a percent)	4.21%
Expected long-term return on plan assets (as a percent)	3.14%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (as a percent)	5.05%
Expected long-term return on plan assets (as a percent)	3.13%

EMPLOYEE_BENEFIT_PLANS_Details3

EMPLOYEE BENEFIT PLANS (Details 4) (PLC, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Pension Plan
EMPLOYEE BENEFIT PLANS
Service cost - benefits earned during the period	$9,411	$9,345	$9,145
Interest cost on projected benefit obligation	10,493	8,985	8,977
Expected return on plan assets	-12,166	-11,013	-10,916
Amortization of prior service cost/(credit)	-392	-392	-392
Amortization of actuarial losses	6,821	9,631	7,749
Preliminary net periodic benefit cost	14,167	16,556	14,563
Total benefit cost	14,167	16,556	14,563
Average remaining service period used	8 years 1 month 6 days
Estimated net actuarial loss, prior service cost/(credit), and transition obligation for these plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost during 2014
Net actuarial loss	7,603
Prior service cost/(credit)	-392
Unfunded Excess Benefits Plan
EMPLOYEE BENEFIT PLANS
Service cost - benefits earned during the period	954	1,037	867
Interest cost on projected benefit obligation	1,696	1,387	1,473
Amortization of prior service cost/(credit)	12	12	12
Amortization of actuarial losses	1,516	1,792	1,300
Preliminary net periodic benefit cost	4,178	4,228	3,652
Settlement/curtailment expense		928
Total benefit cost	4,178	5,156	3,652
Average remaining service period used	7 years 6 months 4 days
Estimated net actuarial loss, prior service cost/(credit), and transition obligation for these plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost during 2014
Net actuarial loss	1,901
Prior service cost/(credit)	$12

EMPLOYEE_BENEFIT_PLANS_Details4

EMPLOYEE BENEFIT PLANS (Details 5) (PLC, Defined Benefit Pension Plan)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	100.00%	100.00%
Target Allocation for 2015 of plan assets of defined benefit pension plan by category
Target allocation for 2015 (as a percent)	100.00%
Cash and cash equivalents
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	4.00%	2.00%
Target Allocation for 2015 of plan assets of defined benefit pension plan by category
Target allocation for 2015 (as a percent)	2.00%
Equity securities
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	62.00%	64.00%
Target Allocation for 2015 of plan assets of defined benefit pension plan by category
Target allocation for 2015 (as a percent)	60.00%
Fixed income mutual funds
Allocation of plan assets of defined benefit pension plan by category
Total allocation (as a percent)	34.00%	34.00%
Target Allocation for 2015 of plan assets of defined benefit pension plan by category
Target allocation for 2015 (as a percent)	38.00%

EMPLOYEE_BENEFIT_PLANS_Details5

EMPLOYEE BENEFIT PLANS (Details 6) (PLC, Defined Benefit Pension Plan, USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
EMPLOYEE BENEFIT PLANS
Total investments	$203,772	$180,173	$152,187
Employer contribution receivable	2,165	2,314
Total	205,937	182,487
Cash and cash equivalents
EMPLOYEE BENEFIT PLANS
Total investments	7,968	3,052
Equity securities: Collective Russell 3000 Equity Index Fund
EMPLOYEE BENEFIT PLANS
Total investments	79,660	74,753
Equity securities: Fidelity Spartan 500 Equity Index Fund
EMPLOYEE BENEFIT PLANS
Total investments	51,848	45,632
Fixed Income
EMPLOYEE BENEFIT PLANS
Total investments	$64,296	$56,736

EMPLOYEE_BENEFIT_PLANS_Details6

EMPLOYEE BENEFIT PLANS (Details 7) (PLC, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Collective short-term investment fund
Fair value hierarchy of Plan's assets
Redemption Notice Period	1 day	1 day
Equity securities: Collective Russell 3000 Equity Index Fund
Fair value hierarchy of Plan's assets
Redemption Notice Period	1 day	1 day
Equity securities: Fidelity Spartan 500 Equity Index Fund
Fair value hierarchy of Plan's assets
Redemption Notice Period	1 day	1 day
Defined Benefit Pension Plan
Fair value hierarchy of Plan's assets
Total investments	203,772,000	180,173,000
Amount transferred into Level 3 from Level 2	4,500,000	4,000,000
Amount of transfers between Level 1 and Level 2	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	180,173,000	152,187,000
Fair value of plan assets at end of year	203,772,000	180,173,000
Defined Benefit Pension Plan | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments	7,968,000	3,052,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	7,968,000	3,052,000
Defined Benefit Pension Plan | Equity index funds
Fair value hierarchy of Plan's assets
Total investments	131,508,000	120,385,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	131,508,000	120,385,000
Defined Benefit Pension Plan | Equity securities: Collective Russell 3000 Equity Index Fund
Fair value hierarchy of Plan's assets
Total investments	79,660,000	74,753,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	79,660,000	74,753,000
Defined Benefit Pension Plan | Equity securities: Fidelity Spartan 500 Equity Index Fund
Fair value hierarchy of Plan's assets
Total investments	51,848,000	45,632,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	51,848,000	45,632,000
Defined Benefit Pension Plan | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	64,296,000	56,736,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	64,296,000	56,736,000
Defined Benefit Pension Plan | Level 1
Fair value hierarchy of Plan's assets
Total investments	59,816,000	48,684,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	59,816,000	48,684,000
Defined Benefit Pension Plan | Level 1 | Collective short-term investment fund
Fair value hierarchy of Plan's assets
Total investments	7,968,000	3,052,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	7,968,000	3,052,000
Defined Benefit Pension Plan | Level 1 | Equity index funds
Fair value hierarchy of Plan's assets
Total investments	51,848,000	45,632,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	51,848,000	45,632,000
Defined Benefit Pension Plan | Level 2
Fair value hierarchy of Plan's assets
Total investments	79,660,000	74,753,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	79,660,000	74,753,000
Defined Benefit Pension Plan | Level 2 | Equity index funds
Fair value hierarchy of Plan's assets
Total investments	79,660,000	74,753,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	79,660,000	74,753,000
Defined Benefit Pension Plan | Level 3
Fair value hierarchy of Plan's assets
Total investments	64,296,000	56,736,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	56,736,000	50,032,000
Interest income	3,060,000	2,704,000
Transfers from collective short-term investments fund	4,500,000	4,000,000
Fair value of plan assets at end of year	64,296,000	56,736,000
Defined Benefit Pension Plan | Level 3 | Group deposit administration annuity contract
Fair value hierarchy of Plan's assets
Total investments	64,296,000	56,736,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	64,296,000	56,736,000
Group life insurance plan | Money market fund
Fair value hierarchy of Plan's assets
Total investments	5,925,000	6,156,000
Amount of transfers between levels	0	0
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at beginning of year	6,156,000	6,174,000
Fair value of plan assets at end of year	5,925,000	6,156,000
Group life insurance plan | Level 1 | Money market fund
Fair value hierarchy of Plan's assets
Total investments	5,925,000	6,156,000
Reconciliation of beginning and ending balances for fair value measurements for which significant unobservable inputs (level 3) are used
Fair value of plan assets at end of year	5,925,000	6,156,000

EMPLOYEE_BENEFIT_PLANS_Details7

EMPLOYEE BENEFIT PLANS (Details 8) (Level 3, Group deposit administration annuity contract, Contract Value, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Employee benefit plans
Fair Value	64,296
Minimum
Employee benefit plans
Contract rate (as a percent)	5.28%
Maximum
Employee benefit plans
Contract rate (as a percent)	5.47%

EMPLOYEE_BENEFIT_PLANS_Details8

EMPLOYEE BENEFIT PLANS (Details 9) (PLC, USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Defined Benefit Pension Plan
Estimated future benefit payments under defined benefit pension plan
2015	$15,055
2016	15,243
2017	16,957
2018	16,515
2019	19,014
2020-2024	97,137
Unfunded Excess Benefits Plan
Estimated future benefit payments under defined benefit pension plan
2015	4,016
2016	4,036
2017	5,610
2018	4,005
2019	4,303
2020-2024	$17,800

EMPLOYEE_BENEFIT_PLANS_Details9

EMPLOYEE BENEFIT PLANS (Details 10) (PLC, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Other Postretirement Benefits
EMPLOYEE BENEFIT PLANS
Accumulated benefit obligation, end of year	$200,000	$400,000
Other Postretirement Benefits | Maximum
EMPLOYEE BENEFIT PLANS
Age of eligibility for limited healthcare benefits	65 years
Retiree medical plan | Minimum
EMPLOYEE BENEFIT PLANS
Age of eligibility for prescription drug benefit	65 years
Retiree medical plan | Maximum
EMPLOYEE BENEFIT PLANS
Liability related to prescription drug benefit provided to employees	100,000	100,000
Group life insurance plan | Minimum
EMPLOYEE BENEFIT PLANS
Life insurance benefits	10,000
Group life insurance plan | Maximum
EMPLOYEE BENEFIT PLANS
Life insurance benefits	75,000
Face amount of life insurance benefits funded	$50,000

Recovered_Sheet1

EMPLOYEE BENEFIT PLANS (Details 11) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 01, 2015
Deferred Compensation Plan
Per share merger consideration (in dollars per share)				$70
PLC
EMPLOYEE BENEFIT PLANS
Percentage change in healthcare cost trend assumptions which has no material effect on liability related to prescription drug benefit provided to employees	1.00%
401 (k) Plan
Employee contribution, maximum percentage of eligible annual compensation	25.00%
Maximum annual contribution by employee	$17,500
Minimum age required to be eligible to make catch-up contribution	50 years
Maximum additional contribution over and above regular annual contribution limits	5,500
Maximum employer matching contribution (as a percent)	4.00%
Expenses recorded due to adopting a cash match for employee contributions to the 401(k) plan	6,300,000	6,000,000
Amount of expenses recorded under a plan that provides supplemental matching contributions in excess of limits imposed	$400,000	$500,000	$400,000
Deferred Compensation Plan
Common stock equivalents credited to participants (in shares)	1,109,595

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance	$538,966,000	$1,811,124,000
Other comprehensive income (loss) before reclassifications	983,983,000	-1,249,682,000
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	3,498,000	4,591,000	30,136,000
Amounts reclassified from accumulated other comprehensive income (loss)	-43,236,000	-27,067,000
Net current-period other comprehensive income (loss)	944,245,000	-1,272,158,000
Ending Balance	1,483,211,000	538,966,000	1,811,124,000
Unrealized gains and losses on available-for-sale securities
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance	540,201,000	1,814,620,000
Other comprehensive income (loss) before reclassifications	983,985,000	-1,250,416,000
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings	3,498,000	4,591,000
Amounts reclassified from accumulated other comprehensive income (loss)	-44,391,000	-28,594,000
Net current-period other comprehensive income (loss)	943,092,000	-1,274,419,000
Ending Balance	1,483,293,000	540,201,000
Impact of DAC and VOBA	397,500,000	198,100,000	204,900,000
Gains and losses on derivative instruments
Changes in Accumulated Other Comprehensive Income (Loss) by Component
Beginning Balance	-1,235,000	-3,496,000
Other comprehensive income (loss) before reclassifications	-2,000	734,000
Amounts reclassified from accumulated other comprehensive income (loss)	1,155,000	1,527,000
Net current-period other comprehensive income (loss)	1,153,000	2,261,000
Ending Balance	($82,000)	($1,235,000)

ACCUMULATED_OTHER_COMPREHENSIV3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details 2) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded									($2,786,463)	($2,473,988)	($2,317,121)
Realized investment gains (losses): All other investments									205,302	-121,537	232,836
Net impairment losses recognized in earnings									-7,275	-22,447	-58,144
Income before income tax	230,443	184,120	172,615	151,611	120,403	113,355	78,927	109,814	738,789	422,499	459,579
Tax (expense) or benefit	-78,917	-62,287	-56,572	-49,062	-31,931	-37,107	-25,923	-35,936	-246,838	-130,897	-151,043
Gains and losses on derivative instruments | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Benefits and settlement expenses, net of reinsurance ceded									-1,777	-2,349
Income before income tax									-1,777	-2,349
Tax (expense) or benefit									622	822
Net of tax									-1,155	-1,527
Unrealized gains and losses on available-for-sale securities | Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Realized investment gains (losses): All other investments									75,569	66,437
Net impairment losses recognized in earnings									-7,275	-22,447
Income before income tax									68,294	43,990
Tax (expense) or benefit									-23,903	-15,396
Net of tax									$44,391	$28,594

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Effective income tax rate related to continuing operations
Statutory federal income tax rate applied to pre-tax income (as a percent)	35.00%	35.00%	35.00%
State income taxes (as a percent)	0.50%	0.40%	0.40%
Investment income not subject to tax (as a percent)	-2.70%	-4.40%	-3.10%
Uncertain tax positions (as a percent)	0.50%	0.10%	0.20%
Other (as a percent)	0.10%	-0.10%	0.40%
Effective income tax rate (as a percent)	33.40%	31.00%	32.90%
Current income tax expense:
Federal	$176,238,000	($18,076,000)	$78,510,000
State	5,525,000	-222,000	2,496,000
Total current	181,763,000	-18,298,000	81,006,000
Deferred income tax expense:
Federal	65,566,000	149,288,000	66,375,000
State	-491,000	-93,000	3,662,000
Total deferred	65,075,000	149,195,000	70,037,000
Deferred income tax assets:
Premium receivables and policy liabilities	154,720,000	275,355,000
Loss and credit carryforwards	35,642,000	104,530,000
Deferred compensation	104,117,000	104,062,000
Invested assets (other than unrealized gains)	2,960,000
Valuation allowance	-791,000	-780,000
Deferred income tax assets	296,648,000	483,167,000
Deferred income tax liabilities:
Deferred policy acquisition costs and value of business acquired	1,073,499,000	1,034,614,000
Invested assets (other than realized gains)		147,446,000
Net unrealized gains (losses) on investments	798,529,000	290,062,000
Other	36,484,000	52,465,000
Deferred income tax liabilities	1,908,512,000	1,524,587,000
Net deferred income tax (liability) asset	-1,611,864,000	-1,041,420,000
State operating loss carryforwards, valuation allowance	1,200,000	1,200,000
Change in valuation allowance, before federal income taxes	$0

INCOME_TAXES_Details_2

INCOME TAXES (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance, beginning of period	$85,846,000	$74,335,000	$4,318,000
Additions for tax positions of the current year	57,392,000	7,464,000	9,465,000
Additions for tax positions of prior years	34,371,000	6,787,000	64,050,000
Reductions of tax positions of prior years:
Changes in judgment	-9,533,000	-2,740,000	-3,498,000
Balance, end of period	168,076,000	85,846,000	74,335,000
Unrecognized tax benefits with high certainty of deductibility but with uncertainty about the timing of deductions	157,300,000	78,500,000
Amount of unrecognized tax benefits that would affect the effective income tax rate if recognized	10,700,000	7,400,000
Accrued interest related to the unrecognized tax benefits included in income tax expense	0	0	0
Accrued interest associated with unrecognized tax benefits	0	0
Estimated period to conclude appeals process for protesting certain unfavorable adjustments in IRS audit	12 months
Potential decrease in total unrecognized tax benefits in the next 12 months	98,400,000
Decrease in uncertain tax position liability		$2,700,000
Minimum probability of realization of tax benefit for amount to be recognized (as a percent)	50.00%

SUPPLEMENTAL_CASH_FLOW_INFORMA2

SUPPLEMENTAL CASH FLOW INFORMATION (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash paid / (received) during the year:
Interest expense	$117,776	$110,301	$92,175
Income taxes	$159,724	($54,370)	$77,665

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 31, 2013
Assets
Other Long-term Investments	$491,282,000	$424,481,000
Short-term investments	246,717,000	133,025,000
Total investments	45,583,964,000	43,655,922,000
Cash	268,286,000	345,579,000	269,582,000	169,775,000
Accounts and premiums receivable	81,137,000	101,324,000
Deferred policy acquisition cost	2,653,065,000	2,720,604,000	2,493,729,000
Other Assets	398,574,000	501,302,000
Total assets	69,992,118,000	68,269,798,000
Liabilities
Future policy benefits and claims	29,944,477,000	29,771,958,000
Other Liabilities	1,178,962,000	945,911,000
Deferred income taxes	1,611,864,000	1,041,420,000
Total liabilities	64,160,967,000	63,579,372,000
Total equity	5,831,151,000	4,690,426,000	5,687,213,000	4,877,350,000
Total liabilities and shareowner's equity	69,992,118,000	68,269,798,000
PLC
RELATED PARTY TRANSACTIONS
Guarantee of synthetic lease financing	75,000,000
Affiliates
RELATED PARTY TRANSACTIONS
Lease revenues	4,900,000	4,900,000	4,700,000
Cost of services	206,300,000	170,900,000	154,700,000
Intercompany payables	19,500,000	27,600,000
Intercompany receivables	0	0
Golden Gate | PLC
RELATED PARTY TRANSACTIONS
Outstanding surplus notes	800,000,000
Certain corporations with which the parent's directors were affiliated
RELATED PARTY TRANSACTIONS
Premiums and policy fees or other amounts for insurance and investment products, interest on bonds and commissions on securities underwriting	33,400,000	40,000,000	59,100,000
Certain corporations with which the parent's directors were affiliated | PLC
RELATED PARTY TRANSACTIONS
Commission, interest on debt and investment products and fees	16,500,000	16,400,000	13,000,000
Shades Creek
Assets
Other Long-term Investments					34,093,000
Short-term investments					745,000
Total investments					34,838,000
Cash					44,963,000
Accounts and premiums receivable					16,036,000
Deferred policy acquisition cost					123,847,000
Other Assets					48,953,000
Total assets					268,637,000
Liabilities
Future policy benefits and claims					1,626,000
Other Liabilities					178,321,000
Deferred income taxes					2,459,000
Total liabilities					182,406,000
Total equity					86,231,000
Total liabilities and shareowner's equity					268,637,000
Shades Creek | Letter of Credit
RELATED PARTY TRANSACTIONS
Outstanding letters of credit (LOC)	55,000,000
Borrowings outstanding	$0

STATUTORY_REPORTING_PRACTICES_2

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Statutory net income	$554,200,000	$165,500,000	$376,300,000
Statutory capital and surplus	3,500,000,000	2,900,000,000
Period for which dividend can be paid after written notice to the insurance commissioner	30 days
Net assets of the Company's insurance subsidiaries that are restricted from transfer (in dollars)	138,400,000
Consolidated shareowners' equity which represented net assets of the Company's insurance subsidiaries that is required to be maintained as minimum capital	730,100,000
Total adjusted capital	3,900,000,000
Action level RBC	687,800,000
RBC ratio (as a percent)	562.00%
Market value of fixed maturity and short-term investments of the company's subsidiaries deposited with regulatory authorities	$45,300,000

STATUTORY_REPORTING_PRACTICES_3

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Details 2) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	($310)	($311)
Non-admission of goodwill
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	-310	-311
Insurance subsidiaries | Accounting for Letters of Credit as admitted assets
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	1,735	1,415
Insurance subsidiaries | Accounting for Red Mountain Note as admitted asset
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	435	365
Insurance subsidiaries | Reserving based on state specific actuarial practices
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	112	105
Insurance subsidiaries | Reserving difference related to a captive insurance company
STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS
Total (net) effect of statutory surplus	($87)	($22)

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:
Available-for-sale securities	$34,824,298	$32,668,220
Trading securities	2,800,000
Total fixed maturity securities	36,756,240	34,804,919
Equity securities	756,790	602,388
Other long-term investments	270,701	210,320
Short-term investments	246,717	133,025
Assets related to separate accounts
Variable annuity	13,157,429	12,791,438
Variable universal life	834,940	783,618
Liabilities:
Other liabilities	629,535	455,161
Fixed maturities:
Assets:
Available-for-sale securities	33,937,420	32,006,429
Trading securities	2,800,000	2,800,000
Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,418,258	1,445,068
Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,177,252	970,656
Other asset-backed securities
Assets:
Available-for-sale securities	839,376	871,983
U.S. government-related securities
Assets:
Available-for-sale securities	1,428,895	1,507,890
States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,687,689	1,410,829
Other government-related securities
Assets:
Available-for-sale securities	20,172	51,427
Corporate bonds
Assets:
Available-for-sale securities	27,365,778	25,748,576
Level 3 | Other asset-backed securities
Assets related to separate accounts
Total assets measured at fair value on a recurring basis	563,752	545,808
Measured at fair value on a recurring basis | Level 1
Assets:
Total fixed maturity securities	1,410,883	1,402,580
Equity securities	590,832	483,482
Other long-term investments	119,997	56,469
Short-term investments	243,436	131,422
Total investments	2,365,148	2,073,953
Cash	268,286	345,579
Assets related to separate accounts
Variable annuity	13,157,429	12,791,438
Variable universal life	834,940	783,618
Total assets measured at fair value on a recurring basis	16,625,803	15,994,588
Liabilities:
Other liabilities	62,146	30,241
Total liabilities measured at fair value on a recurring basis	62,146	30,241
Measured at fair value on a recurring basis | Level 1 | Fixed maturities:
Assets:
Available-for-sale securities	1,165,320	1,211,248
Trading securities	245,563	191,332
Measured at fair value on a recurring basis | Level 1 | U.S. government-related securities
Assets:
Available-for-sale securities	1,165,188	1,211,141
Trading securities	245,563	191,332
Measured at fair value on a recurring basis | Level 1 | Corporate bonds
Assets:
Available-for-sale securities	132	107
Measured at fair value on a recurring basis | Level 2
Assets:
Total fixed maturity securities	33,257,830	31,078,712
Equity securities	99,267	50,927
Other long-term investments	106,079	54,965
Short-term investments	3,281	1,603
Total investments	33,466,457	31,186,207
Assets related to separate accounts
Total assets measured at fair value on a recurring basis	33,466,457	31,186,207
Liabilities:
Other liabilities	61,046	191,182
Total liabilities measured at fair value on a recurring basis	61,046	191,182
Measured at fair value on a recurring basis | Level 2 | Fixed maturities:
Assets:
Available-for-sale securities	30,878,778	28,695,730
Trading securities	2,379,052	2,382,982
Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,418,255	1,445,040
Trading securities	288,114	310,877
Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,177,252	970,656
Trading securities	151,111	158,570
Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Assets:
Available-for-sale securities	275,415	326,175
Trading securities	105,118	93,278
Measured at fair value on a recurring basis | Level 2 | U.S. government-related securities
Assets:
Available-for-sale securities	263,707	296,749
Trading securities	4,898	4,906
Measured at fair value on a recurring basis | Level 2 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,684,014	1,407,154
Trading securities	325,446	260,892
Measured at fair value on a recurring basis | Level 2 | Other government-related securities
Assets:
Available-for-sale securities	20,172	51,427
Trading securities	57,032	57,097
Measured at fair value on a recurring basis | Level 2 | Corporate bonds
Assets:
Available-for-sale securities	26,039,963	24,198,529
Trading securities	1,447,333	1,497,362
Measured at fair value on a recurring basis | Level 3
Assets:
Total fixed maturity securities	2,087,527	2,323,627
Equity securities	66,691	67,979
Other long-term investments	44,625	98,886
Total investments	2,198,843	2,490,492
Assets related to separate accounts
Total assets measured at fair value on a recurring basis	2,198,843	2,490,492
Liabilities:
Annuity account balances	97,825	107,000
Other liabilities	506,343	233,738
Total liabilities measured at fair value on a recurring basis	604,168	340,738
Measured at fair value on a recurring basis | Level 3 | Fixed maturities:
Assets:
Available-for-sale securities	1,893,322	2,099,451
Trading securities	194,205	224,176
Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Assets:
Available-for-sale securities	3	28
Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Assets:
Available-for-sale securities	563,961	545,808
Trading securities	169,461	194,977
Measured at fair value on a recurring basis | Level 3 | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	3,675	3,675
Measured at fair value on a recurring basis | Level 3 | Corporate bonds
Assets:
Available-for-sale securities	1,325,683	1,549,940
Trading securities	24,744	29,199
Measured at fair value on a recurring basis | Fair Values
Assets:
Total fixed maturity securities	36,756,240	34,804,919
Equity securities	756,790	602,388
Other long-term investments	270,701	210,320
Short-term investments	246,717	133,025
Total investments	38,030,448	35,750,652
Cash	268,286	345,579
Assets related to separate accounts
Variable annuity	13,157,429	12,791,438
Variable universal life	834,940	783,618
Total assets measured at fair value on a recurring basis	52,291,103	49,671,287
Liabilities:
Annuity account balances	97,825	107,000
Other liabilities	629,535	455,161
Total liabilities measured at fair value on a recurring basis	727,360	562,161
Measured at fair value on a recurring basis | Fair Values | Fixed maturities:
Assets:
Available-for-sale securities	33,937,420	32,006,429
Trading securities	2,818,820	2,798,490
Measured at fair value on a recurring basis | Fair Values | Residential mortgage-backed securities
Assets:
Available-for-sale securities	1,418,258	1,445,068
Trading securities	288,114	310,877
Measured at fair value on a recurring basis | Fair Values | Commercial mortgage-backed securities
Assets:
Available-for-sale securities	1,177,252	970,656
Trading securities	151,111	158,570
Measured at fair value on a recurring basis | Fair Values | Other asset-backed securities
Assets:
Available-for-sale securities	839,376	871,983
Trading securities	274,579	288,255
Measured at fair value on a recurring basis | Fair Values | U.S. government-related securities
Assets:
Available-for-sale securities	1,428,895	1,507,890
Trading securities	250,461	196,238
Measured at fair value on a recurring basis | Fair Values | States, municipals, and political subdivisions
Assets:
Available-for-sale securities	1,687,689	1,410,829
Trading securities	325,446	260,892
Measured at fair value on a recurring basis | Fair Values | Other government-related securities
Assets:
Available-for-sale securities	20,172	51,427
Trading securities	57,032	57,097
Measured at fair value on a recurring basis | Fair Values | Corporate bonds
Assets:
Available-for-sale securities	27,365,778	25,748,576
Trading securities	$1,472,077	$1,526,561

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Determination of fair values
Number of primary sources of information used for determining fair value	1
Total number of primary sources of information available for determining fair value	3
Minimum percentage of the Company's fixed maturity securities priced by third party pricing services	90.00%
Number of independent non-binding broker quotes obtained per security	1
Percentage of derivatives excluding embedded derivatives that were priced using exchange prices or independent broker quotations	78.80%
Statutory policy liabilities (net of policy loans)	2,500,000,000
Fair value of the trading securities	2,800,000,000
Other long-term investments	270,701,000	210,320,000
Fair value, derivative liability	629,535,000	455,161,000
Annuity account balances
Fixed indexed annuities, discount rate for one month (as a percent)	0.30%
Fixed indexed annuities, discount rate for five years (as a percent)	2.37%
Fixed indexed annuities, discount rate for thirty years (as a percent)	3.67%
Interest support, YRT premium support and portfolio maintenance agreement
Determination of fair values
Other long-term investments	6,100,000
Golden Gate II Captive Insurance Company (Golden Gate II) | Interest Support Agreement
Determination of fair values
Other long-term investments	4,200,000
Payments Triggered Under Agreement	0
Golden Gate II Captive Insurance Company (Golden Gate II) | YRT premium support agreement
Determination of fair values
Other long-term investments	1,700,000
Payments Triggered Under Agreement	0
Golden Gate V and West Coast Life | Portfolio maintenance agreements
Determination of fair values
Other long-term investments	100,000
Payments Triggered Under Agreement	0
Asset-Backed Securities | Level 2
Determination of fair values
Carrying amount	3,400,000,000
Asset-Backed Securities | Level 3
Determination of fair values
Carrying amount	733,400,000
Other asset-backed securities
Determination of fair values
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program ("FFELP"), minimum	97.00%	97.00%
Other asset-backed securities | Level 3 | Available-for-sale securities.
Determination of fair values
Carrying amount	564,000,000
Other asset-backed securities | Level 3 | Trading Securities.
Determination of fair values
Carrying amount	169,400,000
Percentage of underlying collateral of student-loan backed auction rate securities guaranteed by the Federal Family Education Loan Program ("FFELP"), minimum	97.00%
Corporate Bonds, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities | Level 2
Determination of fair values
Carrying amount	29,800,000,000
Corporate Bonds, U.S. Government-Related Securities, States, Municipals, and Political Subdivisions, and Other Government Related Securities | Level 3
Determination of fair values
Carrying amount	1,400,000,000
Equity securities
Determination of fair values
Fair value of the trading securities	21,500,000	21,200,000
Equity securities | Level 2 and Level 3
Determination of fair values
Carrying amount	166,000,000
FHLB stock	66,000,000
Embedded derivative - GMWB | Level 3
Annuity account balances
Discount rate curve, base rate	LIBOR
Embedded derivative - GMWB | Level 3 | Minimum
Determination of fair values
Mortality (as a percent)	44.50%
Embedded derivative - GMWB | Level 3 | Maximum
Determination of fair values
Mortality (as a percent)	100.00%
Embedded derivative - FIA | Level 3
Annuity account balances
Discount rate curve, base rate	LIBOR
Embedded derivative - FIA | Level 3 | Minimum
Determination of fair values
Mortality (as a percent)	49.00%
Embedded derivative - FIA | Level 3 | Maximum
Determination of fair values
Mortality (as a percent)	80.00%
Embedded derivative - IUL | Level 3
Annuity account balances
Discount rate curve, base rate	LIBOR
Embedded derivative - IUL | Level 3 | Minimum
Determination of fair values
Mortality (as a percent)	37.00%
Embedded derivative - IUL | Level 3 | Maximum
Determination of fair values
Mortality (as a percent)	74.00%
Funds withheld derivative | Level 2
Determination of fair values
Fair value, derivative liability	57,300,000

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Unobservable Input
Fixed maturities, held-to-maturity	435,000,000	365,000,000
Level 3
Unobservable Input
Financial instruments that are valued using broker quotes	237,200,000	216,000,000
Financial instruments with book value approximating to fair value	70,400,000	73,900,000
Level 3 | Other asset-backed securities
Valuation of Level 3 Financial Instruments
Fair Value of Assets	563,752,000	545,808,000
Unobservable Input
Financial instruments that are valued using broker quotes	169,700,000	195,000,000
Level 3 | Equity securities
Unobservable Input
Financial instruments with book value approximating to fair value	66,700,000	68,000,000
Level 3 | Other fixed maturity securities
Unobservable Input
Financial instruments with book value approximating to fair value	3,700,000	3,700,000
Level 3 | Discounted cash flow | Other asset-backed securities | Minimum
Unobservable Input
Liquidity premium (as a percent)	0.39%	1.00%
Paydown rate (as a percent)	9.70%	8.57%
Level 3 | Discounted cash flow | Other asset-backed securities | Maximum
Unobservable Input
Liquidity premium (as a percent)	1.49%	1.68%
Paydown rate (as a percent)	15.80%	16.87%
Level 3 | Discounted cash flow | Other asset-backed securities | Weighted Average
Unobservable Input
Liquidity premium (as a percent)	0.69%	1.08%
Paydown rate (as a percent)	12.08%	12.05%
Level 3 | Embedded derivative - GMWB
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities	25,927,000
Level 3 | Embedded derivative - GMWB | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)	44.50%
Lapse (as a percent)	0.25%
Utilization (as a percent)	97.00%
Nonperformance risk (as a percent)	0.12%
Level 3 | Embedded derivative - GMWB | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)	100.00%
Lapse (as a percent)	17.00%
Utilization (as a percent)	101.00%
Nonperformance risk (as a percent)	0.96%
Level 3 | Annuity account
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities	97,825,000	107,000,000
Level 3 | Annuity account | Actuarial cash flow model
Unobservable Input
Asset earned rate (as a percent)		5.37%
Withdrawal rate (as a percent)	2.20%	2.20%
Level 3 | Annuity account | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)	49.00%	49.00%
Lapse (as a percent)	2.20%	2.20%
Nonperformance risk (as a percent)	0.12%	0.15%
Asset earned rate (as a percent)	3.86%
Expenses per policy	88	88
Return on assets (as a percent)	1.50%	1.50%
Level 3 | Annuity account | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)	80.00%	80.00%
Lapse (as a percent)	33.00%	33.00%
Nonperformance risk (as a percent)	0.96%	1.06%
Asset earned rate (as a percent)	5.92%
Expenses per policy	102	102
Return on assets (as a percent)	1.85%	1.85%
Level 3 | Embedded derivative - FIA
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities	124,465,000	25,324,000
Level 3 | Embedded derivative - FIA | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)	49.00%	49.00%
Lapse (as a percent)	2.50%	2.50%
Nonperformance risk (as a percent)	0.12%	0.15%
Expenses per policy	83	83
Withdrawal rate (as a percent)	1.10%	1.10%
Level 3 | Embedded derivative - FIA | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)	80.00%	80.00%
Lapse (as a percent)	40.00%	40.00%
Nonperformance risk (as a percent)	0.96%	1.06%
Expenses per policy	97	97
Withdrawal rate (as a percent)	4.50%	4.50%
Level 3 | Embedded derivative - IUL
Valuation of Level 3 Financial Instruments
Fair Value of Liabilities	6,691,000
Level 3 | Embedded derivative - IUL | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)	37.00%
Lapse (as a percent)	0.50%
Nonperformance risk (as a percent)	0.12%
Level 3 | Embedded derivative - IUL | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)	74.00%
Lapse (as a percent)	10.00%
Nonperformance risk (as a percent)	0.96%
Level 3 | Corporate bonds
Valuation of Level 3 Financial Instruments
Fair Value of Assets	1,282,864,000	1,555,898,000
Unobservable Input
Financial instruments that are valued using broker quotes	67,500,000	21,000,000
Financial instruments with book value approximating to fair value		2,200,000
Level 3 | Corporate bonds | Discounted cash flow | Minimum
Unobservable Input
Spread over treasury (as a percent)	0.33%	0.11%
Level 3 | Corporate bonds | Discounted cash flow | Maximum
Unobservable Input
Spread over treasury (as a percent)	7.50%	6.75%
Level 3 | Corporate bonds | Discounted cash flow | Weighted Average
Unobservable Input
Spread over treasury (as a percent)	2.19%	2.06%
Level 3 | Embedded derivative - GMWB
Valuation of Level 3 Financial Instruments
Fair Value of Assets		93,939,000
Level 3 | Embedded derivative - GMWB | Actuarial cash flow model | Minimum
Unobservable Input
Mortality (as a percent)		49.00%
Lapse (as a percent)		0.00%
Utilization (as a percent)		97.00%
Nonperformance risk (as a percent)		0.15%
Level 3 | Embedded derivative - GMWB | Actuarial cash flow model | Maximum
Unobservable Input
Mortality (as a percent)		80.00%
Lapse (as a percent)		24.00%
Utilization (as a percent)		103.00%
Nonperformance risk (as a percent)		1.06%

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Assets:
Beginning Balance	$2,490,492,000	$973,157,000
Total Realized and Unrealized Gains Included in Earnings	16,974,000	109,343,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	105,542,000	54,242,000
Total Realized and Unrealized Losses Included in Earnings	-66,096,000	-22,290,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income	-41,848,000	-79,396,000
Purchases	155,261,000	934,930,000
Sales	-278,512,000	-180,247,000
Transfers in and/or out of Level 3	-173,736,000	734,351,000
Other	-9,234,000	-33,598,000
Ending Balance	2,198,843,000	2,490,492,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	-53,299,000	87,907,000
Liabilities:
Beginning Balance	340,738,000	740,905,000
Total Realized and Unrealized Gains Included in Earnings	22,547,000	295,910,000
Total Realized and Unrealized Losses Included in Earnings	-299,459,000	-60,745,000
Issuances	685,000	406,000
Settlements	14,167,000	30,903,000
Other		134,505,000
Ending Balance	604,168,000	340,738,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	-272,605,000	242,411,000
Transfers
Securities transferred into Level 3 from Level 2	31,000,000	771,600,000
Securities transferred out of Level 3	204,700,000	37,200,000
Securities transferred from Level 2 to Level 1	0	0
Securities transferred out of Level 1	0	0
Annuity account
Liabilities:
Beginning Balance	107,000,000	129,468,000
Total Realized and Unrealized Losses Included in Earnings	-4,307,000	-8,029,000
Issuances	685,000	406,000
Settlements	14,167,000	30,903,000
Ending Balance	97,825,000	107,000,000
Other liabilities.
Liabilities:
Beginning Balance	233,738,000	611,437,000
Total Realized and Unrealized Gains Included in Earnings	22,547,000	295,910,000
Total Realized and Unrealized Losses Included in Earnings	-295,152,000	-52,716,000
Other		134,505,000
Ending Balance	506,343,000	233,738,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	-272,605,000	242,411,000
Total investments
Assets:
Beginning Balance	2,490,492,000	973,157,000
Total Realized and Unrealized Gains Included in Earnings	16,974,000	109,343,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	105,542,000	54,242,000
Total Realized and Unrealized Losses Included in Earnings	-66,096,000	-22,290,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income	-41,848,000	-79,396,000
Purchases	155,261,000	934,930,000
Sales	-278,512,000	-180,247,000
Transfers in and/or out of Level 3	-173,736,000	734,351,000
Other	-9,234,000	-33,598,000
Ending Balance	2,198,843,000	2,490,492,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	-53,299,000	87,907,000
Fixed maturities:
Assets:
Beginning Balance	2,323,627,000	858,975,000
Total Realized and Unrealized Gains Included in Earnings	11,995,000	8,902,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	104,350,000	54,242,000
Total Realized and Unrealized Losses Included in Earnings	-6,856,000	-6,173,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income	-41,587,000	-79,396,000
Purchases	145,710,000	932,478,000
Sales	-277,393,000	-180,247,000
Transfers in and/or out of Level 3	-163,085,000	734,351,000
Other	-9,234,000	495,000
Ending Balance	2,087,527,000	2,323,627,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	962,000	3,583,000
Fixed maturities: | Available-for-sale securities.
Assets:
Beginning Balance	2,099,451,000	788,325,000
Total Realized and Unrealized Gains Included in Earnings	1,183,000	116,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	104,350,000	54,242,000
Total Realized and Unrealized Losses Included in Earnings	-250,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income	-41,587,000	-79,396,000
Purchases	139,029,000	775,292,000
Sales	-236,161,000	-150,814,000
Transfers in and/or out of Level 3	-162,236,000	712,700,000
Other	-10,457,000	-1,014,000
Ending Balance	1,893,322,000	2,099,451,000
Fixed maturities: | Trading Securities.
Assets:
Beginning Balance	224,176,000	70,650,000
Total Realized and Unrealized Gains Included in Earnings	10,812,000	8,786,000
Total Realized and Unrealized Losses Included in Earnings	-6,606,000	-6,173,000
Purchases	6,681,000	157,186,000
Sales	-41,232,000	-29,433,000
Transfers in and/or out of Level 3	-849,000	21,651,000
Other	1,223,000	1,509,000
Ending Balance	194,205,000	224,176,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	962,000	3,583,000
Residential mortgage-backed securities | Available-for-sale securities.
Assets:
Beginning Balance	28,000	4,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		1,310,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income	-1,000	-338,000
Purchases		14,349,000
Sales	-24,000	-23,000
Transfers in and/or out of Level 3		-15,287,000
Other		13,000
Ending Balance	3,000	28,000
Residential mortgage-backed securities | Trading Securities.
Assets:
Total Realized and Unrealized Gains Included in Earnings	11,000
Total Realized and Unrealized Losses Included in Earnings		-1,000
Purchases	842,000	1,582,000
Sales		-72,000
Transfers in and/or out of Level 3	-853,000	-1,494,000
Other		-15,000
Other asset-backed securities | Available-for-sale securities.
Assets:
Beginning Balance	545,808,000	596,143,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	36,395,000	44,620,000
Total Realized and Unrealized Losses Included in Earnings	-248,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income	-8,033,000	-58,937,000
Purchases		24,931,000
Sales	-10,064,000	-62,760,000
Transfers in and/or out of Level 3		1,227,000
Other	103,000	584,000
Ending Balance	563,961,000	545,808,000
Other asset-backed securities | Trading Securities.
Assets:
Beginning Balance	194,977,000	70,535,000
Total Realized and Unrealized Gains Included in Earnings	9,507,000	8,785,000
Total Realized and Unrealized Losses Included in Earnings	-5,508,000	-5,947,000
Purchases		147,224,000
Sales	-30,462,000	-29,344,000
Transfers in and/or out of Level 3		2,210,000
Other	947,000	1,514,000
Ending Balance	169,461,000	194,977,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	1,083,000	3,588,000
States, municipals, and political subdivisions | Available-for-sale securities.
Assets:
Beginning Balance		4,275,000
Sales		-600,000
Ending Balance	3,675,000	3,675,000
States, municipals, and political subdivisions | Trading Securities.
Assets:
Total Realized and Unrealized Losses Included in Earnings		-123,000
Purchases		3,500,000
Transfers in and/or out of Level 3		-3,377,000
Other government-related securities | Available-for-sale securities.
Assets:
Beginning Balance		20,011,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income		2,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income		-3,000
Sales		-20,000,000
Other		-10,000
Corporate bonds | Available-for-sale securities.
Assets:
Beginning Balance	1,549,940,000	167,892,000
Total Realized and Unrealized Gains Included in Earnings	1,183,000	116,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	67,955,000	8,310,000
Total Realized and Unrealized Losses Included in Earnings	-2,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income	-33,553,000	-20,118,000
Purchases	139,029,000	736,012,000
Sales	-226,073,000	-67,431,000
Transfers in and/or out of Level 3	-162,236,000	726,760,000
Other	-10,560,000	-1,601,000
Ending Balance	1,325,683,000	1,549,940,000
Corporate bonds | Trading Securities.
Assets:
Beginning Balance	29,199,000	115,000
Total Realized and Unrealized Gains Included in Earnings	1,294,000	1,000
Total Realized and Unrealized Losses Included in Earnings	-1,098,000	-102,000
Purchases	5,839,000	4,880,000
Sales	-10,770,000	-17,000
Transfers in and/or out of Level 3	4,000	24,312,000
Other	276,000	10,000
Ending Balance	24,744,000	29,199,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	-121,000	-5,000
Equity securities
Assets:
Beginning Balance	67,979,000	65,527,000
Total Realized and Unrealized Gains Included in Other Comprehensive Income	1,192,000
Total Realized and Unrealized Losses Included in Other Comprehensive Income	-261,000
Purchases	9,551,000	2,452,000
Sales	-1,119,000
Transfers in and/or out of Level 3	-10,651,000
Ending Balance	66,691,000	67,979,000
Other long-term investments.
Assets:
Beginning Balance	98,886,000	48,655,000
Total Realized and Unrealized Gains Included in Earnings	4,979,000	100,441,000
Total Realized and Unrealized Losses Included in Earnings	-59,240,000	-16,117,000
Other		-34,093,000
Ending Balance	44,625,000	98,886,000
Total Gains (losses) included in Earnings related to Instruments still held at the Reporting Date	($54,261,000)	$84,324,000

FAIR_VALUE_OF_FINANCIAL_INSTRU6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 5) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:
Mortgage loan holdings	$5,133,780	$5,493,492
Policy loans	1,758,237	1,815,744
Fixed maturities, held-to-maturity	435,000	365,000
Liabilities:
Stable value product account balances	1,959,488	2,559,552
Annuity account balances	10,950,729	11,125,253
Debt
Non-recourse funding obligations	1,527,752	1,495,448
Golden Gate V
Debt
Non-recourse funding obligations	435,000
Carrying Amounts
Assets:
Mortgage loan holdings	5,133,780	5,493,492
Policy loans	1,758,237	1,815,744
Fixed maturities, held-to-maturity	435,000	365,000
Liabilities:
Stable value product account balances	1,959,488	2,559,552
Annuity account balances	10,950,729	11,125,253
Debt
Non-recourse funding obligations	1,527,752	1,495,448
Carrying Amounts | Golden Gate V
Debt
Non-recourse funding obligations	435,000	365,000
Fair Values | Golden Gate V
Debt
Non-recourse funding obligations	461,400	321,500
Fair Values | Level 3
Assets:
Mortgage loan holdings	5,524,059	5,956,133
Policy loans	1,758,237	1,815,744
Fixed maturities, held-to-maturity	458,422	335,676
Liabilities:
Stable value product account balances	1,973,624	2,566,209
Annuity account balances	10,491,775	10,639,637
Debt
Non-recourse funding obligations	$1,753,183	$1,272,425

DERIVATIVE_FINANCIAL_INSTRUMEN2

DERIVATIVE FINANCIAL INSTRUMENTS (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	($13,492)	$82,161	($227,816)
Notional Amount, Other long-term investments	7,174,182	5,685,338
Fair Value, Other long-term investments	270,701	210,320
Notional Amount, Other liabilities	7,661,143	6,196,027
Fair Value, Other liabilities	629,535	455,161
Derivatives not designated as hedging instruments
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	94,002	-112,006	-102,832
Realized investment gains (losses) - derivatives related to FIA contracts, gross	-6,136	1,092
Realized investment gains (losses) - derivatives, gross	-13,492	82,161	-227,816
Derivatives not designated as hedging instruments | PLC
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other long-term investments	1,497,010	1,464,164
Fair Value, Other long-term investments	6,077	1,993
Derivatives not designated as hedging instruments | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	157
Derivatives not designated as hedging instruments | Interest rate futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	27,801	-31,216	21,138
Notional Amount, Other long-term investments	27,977
Fair Value, Other long-term investments	938
Notional Amount, Other liabilities		322,902
Fair Value, Other liabilities		5,221
Derivatives not designated as hedging instruments | Equity futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	-26,104	-52,640	-50,797
Realized investment gains (losses) - derivatives related to FIA contracts, gross	870	173
Notional Amount, Other long-term investments	26,483	3,387
Fair Value, Other long-term investments	427	111
Notional Amount, Other liabilities	385,256	164,595
Fair Value, Other liabilities	15,069	6,595
Derivatives not designated as hedging instruments | Equity futures | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	15
Derivatives not designated as hedging instruments | Currency futures
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	14,433	-469	-2,763
Notional Amount, Other long-term investments	197,648	14,338
Fair Value, Other long-term investments	2,384	321
Notional Amount, Other liabilities		118,008
Fair Value, Other liabilities		840
Derivatives not designated as hedging instruments | Volatility futures
Notional amount and fair value of the entity's derivative financial instruments
Positions held	0
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross			-132
Realized investment gains (losses) - derivatives related to FIA contracts, gross	20	-5
Derivatives not designated as hedging instruments | Variance swaps
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	-744	-11,310	-11,792
Notional Amount, Other liabilities		1,500
Fair Value, Other liabilities		1,744
Derivatives not designated as hedging instruments | Equity options
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	-41,216	-95,022	-37,370
Realized investment gains (losses) - derivatives related to FIA contracts, gross	9,906	1,866
Notional Amount, Other long-term investments	1,921,167	1,376,205
Fair Value, Other long-term investments	163,212	78,277
Notional Amount, Other liabilities	699,295	257,065
Fair Value, Other liabilities	47,077	17,558
Derivatives not designated as hedging instruments | Equity options | IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	150
Derivatives not designated as hedging instruments | Volatility options
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross		-115
Derivatives not designated as hedging instruments | Interest rate swaptions
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	-22,280	1,575	-2,260
Notional Amount, Other long-term investments	625,000	625,000
Fair Value, Other long-term investments	8,012	30,291
Derivatives not designated as hedging instruments | Interest rate swaps
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	214,164	-157,408	3,264
Realized investment gains (losses) - derivatives, gross		2,985	-87
Notional Amount, Other long-term investments	1,550,000	200,000
Fair Value, Other long-term investments	50,743	1,961
Notional Amount, Other liabilities	275,000	1,230,000
Fair Value, Other liabilities	3,599	153,322
Derivatives not designated as hedging instruments | Embedded derivative - GMWB
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	-119,844	162,737	-22,120
Notional Amount, Other long-term investments	1,302,895	1,921,443
Fair Value, Other long-term investments	37,497	95,376
Notional Amount, Other liabilities	1,702,899	104,180
Fair Value, Other liabilities	63,460	1,496
Derivatives not designated as hedging instruments | Funds withheld derivative
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to variable annuity contracts, gross	47,792	71,862
Notional Amount, Other liabilities	1,233,424	991,568
Fair Value, Other liabilities	57,305	34,251
Derivatives not designated as hedging instruments | Embedded derivative - Modco reinsurance treaties
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	-105,276	205,176	-132,816
Notional Amount, Other long-term investments	25,760	80,376
Fair Value, Other long-term investments	1,051	1,517
Notional Amount, Other liabilities	2,562,848	2,578,590
Fair Value, Other liabilities	311,727	206,918
Derivatives not designated as hedging instruments | Embedded derivative - FIA
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives related to FIA contracts, gross	-16,932	-942
Notional Amount, Other liabilities	749,933	244,424
Fair Value, Other liabilities	124,465	25,324
Derivatives not designated as hedging instruments | Interest rate caps
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross			-2,666
Derivatives not designated as hedging instruments | Derivatives with PLC
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	4,085	-15,072	10,664
Derivatives not designated as hedging instruments | Other derivatives
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	-324	-14	-79
Notional Amount, Other long-term investments	242	425
Fair Value, Other long-term investments	360	473
Notional Amount, Other liabilities		230
Fair Value, Other liabilities		27
Derivatives not designated as hedging instruments | Embedded derivative - IUL
Notional amount and fair value of the entity's derivative financial instruments
Realized investment gains (losses) - derivatives, gross	-8
Notional Amount, Other long-term investments	12,019
Fair Value, Other long-term investments	6,691
Cash flow hedges. | Inflation
Notional amount and fair value of the entity's derivative financial instruments
Notional Amount, Other liabilities	40,469	182,965
Fair Value, Other liabilities	$142	$1,865

DERIVATIVE_FINANCIAL_INSTRUMEN3

DERIVATIVE FINANCIAL INSTRUMENTS (Details 2) (Cash flow hedges, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	($4,000)	$1,130,000
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	-1,777,000	-2,349,000
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	-223,000	-190,000
Expected reclassification out of accumulated other comprehensive income (loss) into earnings during the next twelve months	100,000
Inflation
Gain (Loss) on Derivatives in Cash Flow Hedging Relationship
Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	-4,000	1,130,000
Amount and Location of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	-1,777,000	-2,349,000
Amount and Location of (Losses) Recognized in Income (Loss) on Derivatives (Ineffective Portion)	($223,000)	($190,000)

DERIVATIVE_FINANCIAL_INSTRUMEN4

DERIVATIVE FINANCIAL INSTRUMENTS (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Realized investment gains (losses) - all other investments
Modco trading portfolio	$142,016	($178,134)	$177,986

OFFSETTING_OF_ASSETS_AND_LIABI2

OFFSETTING OF ASSETS AND LIABILITIES (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	$225,716	$207,876
Net Amounts of Assets Presented in the Statement of Financial Position	225,716	207,876
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	53,612	52,487
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	73,935	10,700
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	98,169	144,689
Total derivatives, not subject to a master netting arrangement or similar arrangement
Total derivatives, not subject to a master netting arrangement or similar arrangement	44,985	2,444
Total derivatives
Gross Amounts of Recognized Assets	270,701	210,320
Net Amounts of Assets Presented in the Statement of Financial Position	270,701	210,320
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	53,612	52,487
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	73,935	10,700
Total derivatives, Net Amount	143,154	147,133
Free-Standing derivatives
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	225,716	110,983
Net Amounts of Assets Presented in the Statement of Financial Position	225,716	110,983
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	53,612	52,487
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received	73,935	10,700
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	98,169	47,796
Embedded derivative - Modco reinsurance treaties
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	1,051	1,517
Net Amounts of Assets Presented in the Statement of Financial Position	1,051	1,517
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	1,051	1,517
Embedded derivative - GMWB
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	37,497	95,376
Net Amounts of Assets Presented in the Statement of Financial Position	37,497	95,376
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	37,497	95,376
Derivatives with PLC
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	6,077
Net Amounts of Assets Presented in the Statement of Financial Position	6,077
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	6,077
Other
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Assets	360
Net Amounts of Assets Presented in the Statement of Financial Position	360
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	$360

OFFSETTING_OF_ASSETS_AND_LIABI3

OFFSETTING OF ASSETS AND LIABILITIES (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	$65,887	$455,161
Net Amounts of Liabilities Presented in the Statement of Financial Position	65,887	455,161
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	53,612	52,487
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	12,258	98,359
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	17	304,315
Total derivatives, not subject to a master netting arrangement or similar arrangement
Total derivatives, not subject to a master netting arrangement or similar arrangement	563,648
Total derivatives
Gross Amounts of Recognized Liabilities	629,535	455,161
Net Amounts of Liabilities Presented in the Statement of Financial Position	629,535	455,161
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	53,612	52,487
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	12,258	98,359
Total derivatives, Net Amount	563,665	304,315
Repurchase agreements
Repurchase agreements	50,000	350,000
Total Liabilities
Gross Amounts of Recognized Liabilities	679,535	805,161
Net Amounts of Liabilities Presented in the Statement of Financial Position	679,535	805,161
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	53,612	52,487
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	12,258	98,359
Net Amount	613,665	654,315
Free-Standing derivatives
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	65,887	187,172
Net Amounts of Liabilities Presented in the Statement of Financial Position	65,887	187,172
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	53,612	52,487
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Paid	12,258	98,359
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	17	36,326
Embedded derivative - Modco reinsurance treaties
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	311,727	206,918
Net Amounts of Liabilities Presented in the Statement of Financial Position	311,727	206,918
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	311,727	206,918
Funds withheld derivative
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	57,305	34,251
Net Amounts of Liabilities Presented in the Statement of Financial Position	57,305	34,251
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	57,305	34,251
Embedded derivative - GMWB
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	63,460	1,496
Net Amounts of Liabilities Presented in the Statement of Financial Position	63,460	1,496
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	63,460	1,496
Embedded derivative - FIA
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	124,465	25,324
Net Amounts of Liabilities Presented in the Statement of Financial Position	124,465	25,324
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	124,465	25,324
Embedded derivative - IUL
Total derivatives, subject to a master netting arrangement or similar arrangement
Gross Amounts of Recognized Liabilities	6,691
Net Amounts of Liabilities Presented in the Statement of Financial Position	6,691
Total derivatives, subject to a master netting arrangement or similar arrangement, Net Amount	$6,691

OPERATING_SEGMENTS_Details

OPERATING SEGMENTS (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Summarized financial information for the company's segments
Revenues	$1,118,912	$1,116,760	$1,139,186	$1,089,349	$1,022,452	$880,594	$816,041	$885,583	$4,464,207	$3,604,670	$3,456,060
Realized investment (losses) gains - investments									151,035	-140,236	188,729
Realized investment (losses) gains - derivatives									12,263	109,553	-191,315
Income tax expense	-78,917	-62,287	-56,572	-49,062	-31,931	-37,107	-25,923	-35,936	-246,838	-130,897	-151,043
Net income	151,526	121,833	116,043	102,549	88,472	76,248	53,004	73,878	491,951	291,602	308,536
Realized gain (losses) on investments
Investment gains (losses)									198,027	-143,984	174,692
Less: amortization related to DAC/VOBA and benefits and settlement expenses									46,992	-3,748	-14,037
Realized investment gains (losses) - investments									151,035	-140,236	188,729
Realized gain (losses) on derivatives
Realized investment gains (losses) - derivatives, gross									-13,492	82,161	-227,816
Less: VA GMWB economic cost									-25,755	-27,392	-36,501
Realized investment gains (losses) - derivatives									12,263	109,553	-191,315
Net investment income	525,539	532,861	525,576	514,037	515,340	434,772	447,064	439,012	2,098,013	1,836,188	1,789,338
Amortization of DAC and VOBA									308,320	154,660	192,183
Other-than-temporary impairments									7,275	22,447	58,144
Operating Segment Assets
Investments and other assets	66,759,495				64,712,501				66,759,495	64,712,501
Deferred policy acquisition costs and value of business acquired	3,155,046				3,476,622				3,155,046	3,476,622	3,225,356
Goodwill	77,577				80,675				77,577	80,675	83,773
Total assets	69,992,118				68,269,798				69,992,118	68,269,798
Life Marketing
Summarized financial information for the company's segments
Revenues									1,421,795	1,324,409	1,233,654
Realized gain (losses) on derivatives
Net investment income									553,006	521,219	486,374
Amortization of DAC and VOBA									175,807	25,774	45,079
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	1,973,156				2,071,470				1,973,156	2,071,470	2,001,708
Acquisitions
Summarized financial information for the company's segments
Revenues									1,720,179	1,186,579	1,064,295
Realized gain (losses) on derivatives
Net investment income									874,653	617,298	550,334
Amortization of DAC and VOBA									60,031	72,762	77,251
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	600,482				799,255				600,482	799,255	679,746
Goodwill	29,419				32,517				29,419	32,517	35,615
Annuities
Summarized financial information for the company's segments
Revenues									785,176	569,004	610,489
Realized gain (losses) on derivatives
Net investment income									465,849	468,329	504,342
Amortization of DAC and VOBA									47,448	31,498	45,319
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	539,965				554,974				539,965	554,974	491,184
Stable Value Products
Summarized financial information for the company's segments
Revenues									127,708	122,974	123,274
Realized gain (losses) on derivatives
Net investment income									107,170	123,798	128,239
Amortization of DAC and VOBA									380	398	947
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	621				1,001				621	1,001	1,399
Asset Protection
Summarized financial information for the company's segments
Revenues									305,396	296,782	294,146
Realized gain (losses) on derivatives
Net investment income									18,830	19,046	19,698
Amortization of DAC and VOBA									24,169	23,603	22,569
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	40,503				49,276				40,503	49,276	50,253
Goodwill	48,158				48,158				48,158	48,158	48,158
Corporate and Other
Summarized financial information for the company's segments
Revenues									103,953	104,922	130,202
Realized gain (losses) on derivatives
Net investment income									78,505	86,498	100,351
Amortization of DAC and VOBA									485	625	1,018
Operating Segment Assets
Deferred policy acquisition costs and value of business acquired	319				646				319	646	1,066
Operating
Summarized financial information for the company's segments
Segment Operating Income (Loss)									575,491	453,182	462,165
Operating | Life Marketing
Summarized financial information for the company's segments
Segment Operating Income (Loss)									116,875	106,812	102,114
Operating Segment Assets
Investments and other assets	13,858,491				13,135,914				13,858,491	13,135,914
Deferred policy acquisition costs and value of business acquired	1,973,156				2,071,470				1,973,156	2,071,470
Total assets	15,831,647				15,207,384				15,831,647	15,207,384
Operating | Acquisitions
Summarized financial information for the company's segments
Segment Operating Income (Loss)									254,021	154,003	171,060
Operating Segment Assets
Investments and other assets	19,858,284				20,188,321				19,858,284	20,188,321
Deferred policy acquisition costs and value of business acquired	600,482				799,255				600,482	799,255
Goodwill	29,419				32,517				29,419	32,517
Total assets	20,488,185				21,020,093				20,488,185	21,020,093
Operating | Annuities
Summarized financial information for the company's segments
Segment Operating Income (Loss)									204,015	166,278	117,778
Operating Segment Assets
Investments and other assets	20,678,948				20,029,310				20,678,948	20,029,310
Deferred policy acquisition costs and value of business acquired	539,965				554,974				539,965	554,974
Total assets	21,218,913				20,584,284				21,218,913	20,584,284
Operating | Stable Value Products
Summarized financial information for the company's segments
Segment Operating Income (Loss)									73,354	80,561	60,329
Operating Segment Assets
Investments and other assets	1,958,867				2,558,551				1,958,867	2,558,551
Deferred policy acquisition costs and value of business acquired	621				1,001				621	1,001
Total assets	1,959,488				2,559,552				1,959,488	2,559,552
Operating | Asset Protection
Summarized financial information for the company's segments
Segment Operating Income (Loss)									26,274	20,148	9,765
Operating Segment Assets
Investments and other assets	832,887				777,387				832,887	777,387
Deferred policy acquisition costs and value of business acquired	40,503				49,276				40,503	49,276
Goodwill	48,158				48,158				48,158	48,158
Total assets	921,548				874,821				921,548	874,821
Operating | Corporate and Other
Summarized financial information for the company's segments
Segment Operating Income (Loss)									-99,048	-74,620	1,119
Operating Segment Assets
Investments and other assets	9,557,226				8,006,256				9,557,226	8,006,256
Deferred policy acquisition costs and value of business acquired	319				646				319	646
Total assets	9,557,545				8,006,902				9,557,545	8,006,902
Adjustments
Operating Segment Assets
Investments and other assets	14,792				16,762				14,792	16,762
Total assets	$14,792				$16,762				$14,792	$16,762

CONSOLIDATED_QUARTERLY_RESULTS2

CONSOLIDATED QUARTERLY RESULTS - UNAUDITED (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED QUARTERLY RESULTS - UNAUDITED
Premiums and policy fees	$867,263	$755,300	$848,183	$812,323	$837,706	$653,664	$752,752	$723,200	$3,283,069	$2,967,322	$2,799,390
Reinsurance ceded	-430,878	-283,104	-348,255	-333,506	-387,192	-277,628	-396,777	-325,840	-1,395,743	-1,387,437	-1,310,097
Net of reinsurance ceded	436,385	472,196	499,928	478,817	450,514	376,036	355,975	397,360	1,887,326	1,579,885	1,489,293
Net investment income	525,539	532,861	525,576	514,037	515,340	434,772	447,064	439,012	2,098,013	1,836,188	1,789,338
Realized investment gains (losses)	71,869	39,299	42,386	30,981	-13,227	4,263	-47,636	-5,223	184,535	-61,823	-53,124
Other income	85,119	72,404	71,296	65,514	69,825	65,523	60,638	54,434	294,333	250,420	230,553
Total revenues	1,118,912	1,116,760	1,139,186	1,089,349	1,022,452	880,594	816,041	885,583	4,464,207	3,604,670	3,456,060
Total benefits and expenses	888,469	932,640	966,571	937,738	902,049	767,239	737,114	775,769	3,725,418	3,182,171	2,996,481
Income before income tax	230,443	184,120	172,615	151,611	120,403	113,355	78,927	109,814	738,789	422,499	459,579
Income tax expense	78,917	62,287	56,572	49,062	31,931	37,107	25,923	35,936	246,838	130,897	151,043
Net income	$151,526	$121,833	$116,043	$102,549	$88,472	$76,248	$53,004	$73,878	$491,951	$291,602	$308,536

SCHEDULE_III_SUPPLEMENTARY_INS1

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Business Acquired	$3,155,046				$3,476,622				$3,155,046	$3,476,622	$3,225,356
Future Policy Benefits and Claims	29,944,477				29,771,958				29,944,477	29,771,958	21,626,065
Unearned Premiums	1,515,001				1,500,394				1,515,001	1,500,394	1,352,872
Stable Value Products, Annuity Contracts and Other Policyholders' Funds	14,340,542				14,899,185				14,340,542	14,899,185	13,736,007
Net Premiums and Policy Fees	436,385	472,196	499,928	478,817	450,514	376,036	355,975	397,360	1,887,326	1,579,885	1,489,293
Net Investment Income									2,098,013	1,836,188	1,789,338
Benefits and Settlement Expenses									2,786,463	2,473,988	2,317,121
Amortization of deferred policy acquisition costs and value of business acquired									308,320	154,660	192,183
Other Operating Expenses									630,635	553,523	487,177
Premiums Written									213,344	200,724	209,418
Life Marketing
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Business Acquired	1,973,156				2,071,470				1,973,156	2,071,470	2,001,708
Future Policy Benefits and Claims	14,077,360				13,504,869				14,077,360	13,504,869	12,733,602
Unearned Premiums	772,880				812,929				772,880	812,929	698,862
Stable Value Products, Annuity Contracts and Other Policyholders' Funds	349,698				311,290				349,698	311,290	277,919
Net Premiums and Policy Fees									854,186	796,109	743,361
Net Investment Income									553,006	521,219	486,374
Benefits and Settlement Expenses									1,075,386	1,143,132	1,054,645
Amortization of deferred policy acquisition costs and value of business acquired									175,807	25,774	45,079
Other Operating Expenses									47,688	46,263	31,816
Premiums Written									151	173	161
Acquisitions
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Business Acquired	600,482				799,255				600,482	799,255	679,746
Future Policy Benefits and Claims	14,740,562				15,112,574				14,740,562	15,112,574	7,666,423
Unearned Premiums	3,473				4,680				3,473	4,680	8,367
Stable Value Products, Annuity Contracts and Other Policyholders' Funds	4,770,181				4,734,487				4,770,181	4,734,487	3,514,838
Net Premiums and Policy Fees									772,020	519,477	459,835
Net Investment Income									874,653	617,298	550,334
Benefits and Settlement Expenses									1,247,836	851,386	716,893
Amortization of deferred policy acquisition costs and value of business acquired									60,031	72,762	77,251
Other Operating Expenses									122,349	78,244	51,714
Premiums Written									35,857	24,781	29,874
Annuities
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Business Acquired	539,965				554,974				539,965	554,974	491,184
Future Policy Benefits and Claims	1,015,928				1,037,348				1,015,928	1,037,348	1,102,577
Unearned Premiums	120,850				102,734				120,850	102,734	103,316
Stable Value Products, Annuity Contracts and Other Policyholders' Funds	7,190,908				7,228,119				7,190,908	7,228,119	7,372,471
Net Premiums and Policy Fees									75,446	80,343	97,902
Net Investment Income									465,849	468,329	504,342
Benefits and Settlement Expenses									314,488	318,173	369,622
Amortization of deferred policy acquisition costs and value of business acquired									47,448	31,498	45,319
Other Operating Expenses									115,643	110,266	100,848
Stable Value Products
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Business Acquired	621				1,001				621	1,001	1,399
Stable Value Products, Annuity Contracts and Other Policyholders' Funds	1,959,488				2,559,552				1,959,488	2,559,552	2,510,559
Net Investment Income									107,170	123,798	128,239
Benefits and Settlement Expenses									35,559	41,793	64,790
Amortization of deferred policy acquisition costs and value of business acquired									380	398	947
Other Operating Expenses									1,413	1,805	2,174
Asset Protection
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Business Acquired	40,503				49,276				40,503	49,276	50,253
Future Policy Benefits and Claims	46,963				49,362				46,963	49,362	51,279
Unearned Premiums	616,908				578,755				616,908	578,755	540,766
Stable Value Products, Annuity Contracts and Other Policyholders' Funds					1,556					1,556	1,790
Net Premiums and Policy Fees									169,212	165,807	168,656
Net Investment Income									18,830	19,046	19,698
Benefits and Settlement Expenses									93,193	97,174	91,778
Amortization of deferred policy acquisition costs and value of business acquired									24,169	23,603	22,569
Other Operating Expenses									161,760	155,857	170,034
Premiums Written									160,948	157,629	159,927
Corporate and Other
Supplementary insurance information
Deferred Policy Acquisition Costs and Value of Business Acquired	319				646				319	646	1,066
Future Policy Benefits and Claims	63,664				67,805				63,664	67,805	72,184
Unearned Premiums	890				1,296				890	1,296	1,561
Stable Value Products, Annuity Contracts and Other Policyholders' Funds	70,267				64,181				70,267	64,181	58,430
Net Premiums and Policy Fees									16,462	18,149	19,539
Net Investment Income									78,505	86,498	100,351
Benefits and Settlement Expenses									20,001	22,330	19,393
Amortization of deferred policy acquisition costs and value of business acquired									485	625	1,018
Other Operating Expenses									181,782	161,088	130,591
Premiums Written									$16,388	$18,141	$19,456

SCHEDULE_IV_REINSURANCE_Detail

SCHEDULE IV - REINSURANCE (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Life insurance in-force
Gross Amount	$721,036,332,000	$726,697,151,000	$706,415,969,000
Ceded to Other Companies	388,890,060,000	416,809,287,000	444,950,866,000
Assumed from Other Companies	43,237,358,000	46,752,176,000	30,470,432,000
Net premiums	375,383,630,000	356,640,040,000	291,935,535,000
Percentage of Amount Assumed to Net	11.50%	13.10%	10.40%
Premiums and policy fees:
Gross Amount	2,903,656,000	2,628,133,000	2,481,501,000
Ceded to Other Companies	1,395,743,000	1,387,437,000	1,310,097,000
Assumed from Other Companies	379,413,000	339,189,000	317,889,000
Net Amount	1,887,326,000	1,579,885,000	1,489,293,000
Life insurance
Premiums and policy fees:
Gross Amount	2,603,956,000	2,371,871,000	2,226,614,000
Ceded to Other Companies	1,279,908,000	1,299,631,000	1,228,444,000
Assumed from Other Companies	349,934,000	306,921,000	281,711,000
Net Amount	1,673,982,000	1,379,161,000	1,279,881,000
Percentage of Amount Assumed to Net	20.90%	22.30%	22.00%
Annuity policy fees	92,800,000	88,700,000	103,800,000
Accident/health insurance
Premiums and policy fees:
Gross Amount	81,037,000	45,262,000	38,873,000
Ceded to Other Companies	42,741,000	20,011,000	12,065,000
Assumed from Other Companies	20,804,000	24,291,000	29,413,000
Net Amount	59,100,000	49,542,000	56,221,000
Percentage of Amount Assumed to Net	35.20%	49.00%	52.30%
Property and liability insurance
Premiums and policy fees:
Gross Amount	218,663,000	211,000,000	216,014,000
Ceded to Other Companies	73,094,000	67,795,000	69,588,000
Assumed from Other Companies	8,675,000	7,977,000	6,765,000
Net Amount	$154,244,000	$151,182,000	$153,191,000
Percentage of Amount Assumed to Net	5.60%	5.30%	4.40%

SCHEDULE_V_VALUATION_AND_QUALI1

SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS (Details) (Allowance for losses on commercial mortgage loans, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allowance for losses on commercial mortgage loans
Changes in valuation and qualifying accounts
Balance beginning of period	$3,130	$2,875	$4,975
Additions, Charged to costs and expenses	3,265	7,093	6,240
Deductions	-675	-6,838	-8,340
Balance at end of period	$5,720	$3,130	$2,875