Globe Life (GL) 10-Q 6 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 29, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-08052
Entity Registrant Name	GLOBE LIFE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	63-0780404
Entity Address, Address Line One	3700 South Stonebridge Drive
Entity Address, City or Town	McKinney
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75070
City Area Code	972
Local Phone Number	569-4000
Title of 12(b) Security	Common Stock, $1.00 par value per share
Trading Symbol	GL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0000320335
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Common Stock, Shares Outstanding		106,512,688

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Investments:
Fixed maturities—available for sale, at fair value (amortized cost: 2020—$16,697,900; 2019—$16,415,776, allowance for credit losses: 2020— $32,719; 2019— $0)	$ 19,661,182	$ 18,907,147
Policy loans	579,541	575,492
Other long-term investments (includes: 2020—$264,246; 2019—$185,851 under the fair value option)	432,325	326,347
Short-term investments	531,651	38,285
Total investments	21,204,699	19,847,271
Cash	114,031	75,933
Accrued investment income	251,595	245,129
Other receivables	445,539	441,662
Deferred acquisition costs	4,446,356	4,341,941
Goodwill	441,591	441,591
Other assets	630,369	583,933
Total assets	27,534,180	25,977,460
Liabilities:
Future policy benefits	14,826,175	14,508,134
Unearned and advance premium	68,397	63,709
Policy claims and other benefits payable	380,178	365,402
Other policyholders' funds	96,708	96,282
Total policy liabilities	15,371,458	15,033,527
Current and deferred income taxes	1,631,817	1,476,832
Short-term debt	831,076	298,738
Long-term debt (estimated fair value: 2020—$1,417,343; 2019—$1,473,364)	1,272,104	1,348,988
Other liabilities	579,356	525,068
Total liabilities	19,685,811	18,683,153
Commitments and Contingencies (Note 5)
Shareholders' equity:
Preferred stock, par value $1 per share—5,000,000 shares authorized; outstanding: 0 in 2020 and 2019	0	0
Common stock, par value $1 per share—320,000,000 shares authorized; outstanding: (2020—117,218,183 issued; 2019— 117,218,183 issued)	117,218	117,218
Additional paid-in-capital	528,060	531,554
Accumulated other comprehensive income (loss)	2,231,893	1,844,830
Retained earnings	5,838,930	5,551,329
Treasury stock, at cost: (2020—10,767,653 shares; 2019—9,497,940 shares)	(867,732)	(750,624)
Total shareholders' equity	7,848,369	7,294,307
Total liabilities and shareholders' equity	$ 27,534,180	$ 25,977,460

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fixed maturities, available for sale, amortized cost	$ 16,697,900	$ 16,415,776
Fixed maturities, available for sale, allowance for credit losses	32,719	0
Other long-term investments under fair value option	432,325	326,347
Total long-term debt, fair value	$ 1,417,343	$ 1,473,364
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	320,000,000	320,000,000
Common stock, shares issued (in shares)	117,218,183	117,218,183
Common stock, shares outstanding (in shares)	117,218,183	117,218,183
Common stock, shares held in treasury (in shares)	10,767,653	9,497,940
Partnership Interest - Fair Value Option | Investment in limited partnerships
Other long-term investments under fair value option	$ 264,246	$ 185,851

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Premium	$ 953,702	$ 897,484	$ 1,883,537	$ 1,788,457
Net investment income	231,568	227,425	460,559	454,098
Realized gains (losses)	(4,790)	5,154	(30,887)	6,483
Other income	404	398	729	639
Total revenue	1,180,884	1,130,461	2,313,938	2,249,677
Benefits and expenses:
Life policyholder benefits	459,845	410,961	881,515	820,653
Health policyholder benefits	183,496	170,511	362,207	340,528
Other policyholder benefits	7,475	7,890	15,063	15,938
Total policyholder benefits	650,816	589,362	1,258,785	1,177,119
Amortization of deferred acquisition costs	146,160	138,165	289,997	273,987
Commissions, premium taxes, and non-deferred acquisition costs	76,140	73,698	155,077	147,163
Other operating expense	72,714	79,044	151,296	151,837
Interest expense	22,813	21,432	43,621	42,710
Total benefits and expenses	968,643	901,701	1,898,776	1,792,816
Income before income taxes	212,241	228,760	415,162	456,861
Income tax benefit (expense)	(39,193)	(42,151)	(76,574)	(84,858)
Income from continuing operations	173,048	186,609	338,588	372,003
Loss (income) from discontinued operations, net of income taxes	0	(43)	0	(92)
Net income	$ 173,048	$ 186,566	$ 338,588	$ 371,911
Basic net income (loss) per common share:
Continuing operations (in dollars per share)	$ 1.63	$ 1.70	$ 3.17	$ 3.38
Discontinued operations (in dollars per share)	0	0	0	0
Total basic net income per common share (in dollars per share)	1.63	1.70	3.17	3.38
Diluted net income (loss) per common share:
Continuing operations (in dollars per share)	1.62	1.67	3.13	3.32
Discontinued operations (in dollars per share)	0	0	0	0
Total diluted net income per common share (in dollars per share)	$ 1.62	$ 1.67	$ 3.13	$ 3.32
Life premium
Revenue:
Premium	$ 670,822	$ 631,201	$ 1,320,452	$ 1,255,490
Health premium
Revenue:
Premium	282,877	266,282	563,082	532,966
Other premium
Revenue:
Premium	$ 3	$ 1	$ 3	$ 1

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net income	$ 173,048	$ 186,566	$ 338,588	$ 371,911
Unrealized gains (losses) on securities:
Unrealized gains (losses)	1,454,011	718,236	491,370	1,413,175
Less applicable tax (expense) benefit	(305,338)	(150,829)	(103,188)	(296,765)
Unrealized gains (losses) on investments, net of tax	1,148,673	567,407	388,182	1,116,410
Deferred acquisition costs:
Unrealized gains (losses) attributable to deferred acquisition costs	382	170	765	(3,029)
Less applicable tax (expense) benefit	(81)	(35)	(161)	636
Unrealized gains (losses) attributable to deferred acquisition costs, net of tax	301	135	604	(2,393)
Foreign exchange translation:
Foreign exchange translation adjustments, other than securities	16,947	(38)	(10,495)	3,051
Less applicable tax (expense) benefit	(3,560)	7	2,203	(640)
Foreign exchange translation adjustments, other than securities, net of tax	13,387	(31)	(8,292)	2,411
Pension:
Amortization of pension costs	4,158	2,118	8,315	4,238
Less applicable tax (expense) benefit	(873)	(446)	(1,746)	(891)
Pension adjustments, net of tax	3,285	1,672	6,569	3,347
Other comprehensive income (loss)	1,165,646	569,183	387,063	1,119,775
Comprehensive income (loss)	1,338,694	755,749	725,651	1,491,686
Securities
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) arising during period	1,459,508	714,862	481,572	1,408,344
Other reclassification adjustments included in net income	(3,190)	(843)	25,222	(3,287)
Foreign exchange adjustment on securities recorded at fair value	233	626	(2,164)	484
Unrealized gains (losses)	1,456,551	714,645	504,630	1,405,541
Other investments
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) arising during period	$ (2,540)	$ 3,591
Unrealized gains (losses)			$ (13,260)	$ 7,634

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period Of Adoption, Adjustment		Cumulative Effect, Period Of Adoption, Adjusted Balance	Preferred Stock	Preferred StockCumulative Effect, Period Of Adoption, Adjusted Balance	Common Stock	Common StockCumulative Effect, Period Of Adoption, Adjusted Balance	Additional Paid-In Capital	Additional Paid-In CapitalCumulative Effect, Period Of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Cumulative Effect, Period Of Adoption, Adjusted Balance	Retained Earnings	Retained EarningsCumulative Effect, Period Of Adoption, Adjustment		Retained EarningsCumulative Effect, Period Of Adoption, Adjusted Balance	Treasury Stock	Treasury StockCumulative Effect, Period Of Adoption, Adjusted Balance
Beginning balance at Dec. 31, 2018	$ 5,415,177	$ (497)	[1]	$ 5,414,680	$ 0	$ 0	$ 121,218	$ 121,218	$ 524,414	$ 524,414	$ 319,475	$ 319,475	$ 5,213,468	$ (497)	[1]	$ 5,212,971	$ (763,398)	$ (763,398)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	735,937										550,592		185,345
Common dividends declared	(18,943)												(18,943)
Acquisition of treasury stock	(110,896)																(110,896)
Stock-based compensation	10,559								(5,885)				(6,817)				23,261
Exercise of stock options	12,089												(7,736)				19,825
Ending balance at Mar. 31, 2019	6,043,426	105			0		121,218		518,529		870,067		5,364,820	105			(831,208)
Beginning balance at Dec. 31, 2018	5,415,177	(497)	[1]	5,414,680	0	0	121,218	121,218	524,414	524,414	319,475	319,475	5,213,468	(497)	[1]	$ 5,212,971	(763,398)	(763,398)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	1,491,686
Ending balance at Jun. 30, 2019	6,700,398				0		121,218		526,518		1,439,250		5,514,517				(901,105)
Beginning balance at Mar. 31, 2019	6,043,426	105			0		121,218		518,529		870,067		5,364,820	105			(831,208)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	755,749										569,183		186,566
Common dividends declared	(18,838)												(18,838)
Acquisition of treasury stock	(119,201)																(119,201)
Stock-based compensation	11,256								7,989				0				3,267
Exercise of stock options	27,901												(18,136)				46,037
Ending balance at Jun. 30, 2019	$ 6,700,398				0		121,218		526,518		1,439,250		5,514,517				(901,105)
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Beginning balance at Dec. 31, 2019	$ 7,294,307	(454)	[2]	7,293,853	0	0	117,218	117,218	531,554	531,554	1,844,830	1,844,830	5,551,329	(454)	[2]		(750,624)	(750,624)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	(613,043)										(778,583)		165,540
Common dividends declared	(19,963)												(19,963)
Acquisition of treasury stock	(166,729)																(166,729)
Stock-based compensation	9,356								(12,126)				(482)				21,964
Exercise of stock options	16,808												(9,539)				26,347
Ending balance at Mar. 31, 2020	6,520,282				0		117,218		519,428		1,066,247		5,686,431				(869,042)
Beginning balance at Dec. 31, 2019	7,294,307	$ (454)	[2]	$ 7,293,853	0	$ 0	117,218	$ 117,218	531,554	$ 531,554	1,844,830	$ 1,844,830	5,551,329	$ (454)	[2]		(750,624)	$ (750,624)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	725,651
Ending balance at Jun. 30, 2020	$ 7,848,369				0		117,218		528,060		2,231,893		5,838,930				(867,732)
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning balance at Mar. 31, 2020	$ 6,520,282				0		117,218		519,428		1,066,247		5,686,431				(869,042)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	1,338,694										1,165,646		173,048
Common dividends declared	(19,956)												(19,956)
Stock-based compensation	8,632								8,632
Exercise of stock options	717												(593)				1,310
Ending balance at Jun. 30, 2020	$ 7,848,369				$ 0		$ 117,218		$ 528,060		$ 2,231,893		$ 5,838,930				$ (867,732)
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
[1]	Adoption of ASU 2016-02, Leases (Topic 842) , on January 1, 2019.
[2]	Adoption of Accounting Standard Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, on January 1, 2020. See more information in Note 2—New Accounting Standards .

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common dividends declared, per share (in dollars per share)	$ 0.1875	$ 0.1875	$ 0.1725	$ 0.1725

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement of Cash Flows [Abstract]
Cash provided from (used for) operating activities	$ 769,302	$ 686,637
Cash provided from (used for) investing activities:
Fixed maturities available for sale—sold	52,020	34,997
Fixed maturities available for sale—matured or other redemptions	218,022	440,796
Other long-term investments	29,058	0
Total investments sold or matured	299,100	475,793
Acquisition of investments:
Fixed maturities—available for sale	(562,875)	(703,406)
Other long-term investments	(156,291)	(80,979)
Total investments acquired	(719,166)	(784,385)
Net (increase) decrease in policy loans	(4,049)	(10,403)
Net (increase) decrease in short-term investments	(493,366)	(1,806)
Additions to properties	(20,145)	(21,654)
Sale of other assets	18	15
Investments in low-income housing interests	(23,049)	(13,916)
Cash provided from (used for) investing activities	(960,657)	(356,356)
Cash provided from (used for) financing activities:
Issuance of common stock	17,525	39,598
Cash dividends paid to shareholders	(38,541)	(36,652)
Repayment of debt	(4,375)	(3,125)
Proceeds from issuance of debt	300,000	0
Payment for debt issuance costs	(891)	0
Net borrowing (repayment) of commercial paper	159,920	(51,645)
Acquisition of treasury stock	(166,729)	(230,097)
Net receipts (payments) from deposit-type products	(44,873)	(74,217)
Cash provided from (used for) financing activities	222,036	(356,138)
Effect of foreign exchange rate changes on cash	7,417	(5,850)
Net increase (decrease) in cash	38,098	(31,707)
Cash at beginning of year	75,933	121,026
Cash at end of period	$ 114,031	$ 89,319

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Note 1—Significant Accounting Policies Business : "Globe Life", the "Company", refer to Globe Life Inc., an insurance holding company incorporated in Delaware in 1979, and Globe Life Inc. subsidiaries and affiliates. Globe Life Inc.'s primary subsidiaries are Globe Life And Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, Family Heritage Life Insurance Company of America, and United American Insurance Company. The underwriting companies are owned by Globe Life Inc. (the "Parent Company"). Basis of Presentation: The accompanying condensed consolidated financial statements of Globe Life have been prepared in accordance with the instructions to Form 10-Q. Therefore, they do not include all of the disclosures required by accounting principles generally accepted in the United States of America (GAAP) for annual financial statements. However, in the opinion of management, these statements include all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the condensed consolidated financial position at June 30, 2020, and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended June 30, 2020 and 2019. The interim period condensed consolidated financial statements should be read in conjunction with the Consolidated Financial Statements that are included in the Form 10-K filed with the Securities Exchange Commission (SEC) on February 27, 2020. Significant Accounting Policies : The following accounting policies were updated since the 2019 Form 10-K due to the adoption of ASU 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13.) On January 1, 2020, the Company adopted ASU 2016-13, replacing the GAAP "incurred loss" model with a new methodology referred to as current expected credit losses (CECL). The previous methodology delayed recognition of credit losses until it was probable that a loss had incurred, ultimately resulting in fewer instances of losses being recorded in earnings. The new CECL methodology is forward looking—encompassing relevant information about historical experience, current conditions, as well as reasonable and supportable forecasts that affect the collectability of a reported amount. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables. The standard affected the Company's commercial mortgage loan participations ( Other long-term investments ) and agent debit balances ( Other receivables ). The Company adopted the standard using the modified retrospective method. The Company recorded a cumulative effect adjustment, net of tax of $454 thousand to retained earnings, consisting of $265 thousand, net of tax and $189 thousand, net of tax for commercial mortgage loan participations and agent debit balances, respectively. Refer to the table below for pre-tax amounts and Note 4—Investments for additional details. As reported on December 31, 2019 Pre-tax impact of adoption As reported on January 1, 2020 Assets: Commercial mortgage loan participations $ 137,692 $ (335) $ 137,357 Agent debit balances 423,877 (240) 423,637 In addition, the standard made changes to the accounting for available-for-sale debt securities through the removal of "other-than-temporary-impairment" (OTTI) write downs and replaced them with an allowance for credit losses. The new methodology will allow the Company to record reversals of credit losses in situations where the estimate of credit losses declines through current period net income ( Realized gains (losses) ). The Company adopted the standard using the prospective transition approach for available-for-sale fixed maturities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As a result, the amortized cost basis and the effective interest rate remain unchanged after the adoption of ASU 2016-13. Amortized cost will now be reflected as "amortized cost, net of allowance for credit losses" or "amortized cost, net." The Company has not elected the fair value option for any financial assets recorded at amortized cost that would be in scope of this standard. Investments, Available-For-Sale Fixed Maturities : Globe Life classifies all of its fixed maturity investments as available for sale. Investments classified as available for sale are carried at fair value with unrealized gains and losses, net of taxes reflected directly in Accumulated other comprehensive income ("AOCI"). Income from investments is recorded in net investment income on the Condensed Consolidated Statements of Operations . Gains and losses from sales, maturities, or other redemptions of investments are recorded in Realized gains (losses) . Interest income and prepayment fees are recognized when earned. Premiums and discounts are amortized using the interest method. When amortized cost of a callable debt security exceeds the first call price, the premium is amortized to the earliest call date. Otherwise, the period of amortization or accretion generally extends from the purchase date to the maturity date. Accrued investment income consists of interest income or dividends earned on the investment portfolio, but which are yet to be received as of the balance sheet date. The Company will write-off accrued investment income that is deemed to be uncollectible related to the fixed maturities. As a practical expedient, the Company excludes the accrued investment income from the amortized cost basis of the fixed maturity and separately reports it in another financial statement line item, Accrued investment income . Additionally, the amount will be excluded from disclosures within Note 4 . Investments, Allowance For Credit Losses For Available-For-Sale Fixed Maturities : At the onset of the evaluation, the Company individually assesses each fixed maturity to determine whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria are met, the Company will write down the fixed maturity's amortized cost basis to fair value through Realized gains (losses) . If neither of the aforementioned criteria are met, the Company will evaluate whether the decline in fair value has resulted from a credit event. The Company will evaluate many factors, as further described below, to determine the present value of the expected cash flows. A credit loss occurs when the present value of the expected cash flows is less than the amortized cost basis. This will result in the recording of an allowance for credit losses as a contra asset account to the amortized cost basis with an offsetting provision for credit losses in Realized gains (losses) on the Condensed Consolidated Statement of Operations . Additionally, the CECL methodology includes a fair value floor where the allowance for credit loss for a security cannot exceed the difference between fair value and amortized cost. When it is determined that there is not a credit loss, the decline in fair value is recognized in Other comprehensive income. All changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses recorded to the allowance for credit losses are management's best estimate of the uncollectibility of principal and interest of a fixed maturity. The evaluation of Globe Life's securities for credit losses is a process that is undertaken at least quarterly and is overseen by a team of investment and accounting professionals. The process for making this determination is highly subjective and involves the careful consideration of many factors. The factors considered include, but are not limited to: • The Company’s ability and intent to hold the security until anticipated recovery • The reason(s) for the impairment • The financial condition of the issuer and the prospects for recovery in fair value of the security • Expected future cash flows The relative weight given to each of these factors can change over time as facts and circumstances change. In many cases, management believes it is appropriate to give more consideration to prospective factors than to retrospective factors. Prospective factors that are given more weight include prospects for recovery, the Company’s ability and intent to hold the security until anticipated recovery, and expected future cash flows. Among the facts and information considered in the process are: • Financial statements of the issuer • Changes in credit ratings of the issuer • The value of underlying collateral • News and information included in press releases issued by the issuer • News and information reported in the media concerning the issuer • News and information published by or otherwise provided by securities, economic, or research analysts • The nature and amount of recent and expected future sources and uses of cash • Default on a required payment • Issuer bankruptcy filings The expected cash flows are determined using judgment and the best information available to the Company. Inputs used to derive expected cash flows generally include expected default rates, current levels of subordination, and estimated recovery rate. The discount rate utilized in the discounted cash flows is the effective interest rate, which is the rate of return implicit in the asset at acquisition. Investments, Commercial Mortgage Loan Participations (Commercial Mortgage Loans) : Commercial mortgage loans, a type of investment where the commercial mortgage loan is shared among investors, are accounted for as financing receivables. The commercial mortgage loans are managed by a third party. The Company purchased the legal rights to interests in commercial mortgage loans that are secured by properties such as hotels, retail, multiple family, or offices. The commercial mortgage loans typically have a term of three years with an option to extend up to two years. The commercial mortgage loans are recorded at unpaid principal balance, net of unamortized origination fees and net of allowance for loan losses. Interest income, net of the amortization of origination fees, is recorded in Net investment income under the effective yield method. Accrued investment income on the Condensed Consolidated Balance Sheets consists of interest income earned on the commercial mortgage loan portfolio, but which is yet to be received as of the balance sheet date. Accrued investment income will be placed in nonaccrual status at the time the loan is 90 days delinquent or otherwise deemed to be uncollectible by management. Any currently accrued investment income will subsequently be written off. As a practical expedient, the Company excludes the accrued investment income from the amortized cost basis of the commercial mortgage loans and separately reports it in another financial statement line item, Accrued investment income . Additionally, the amount will be excluded from disclosures within Note 4 . As of June 30, 2020, the accrued interest receivable for commercial mortgage loans was $384 thousand. Commercial mortgage loans generally pay interest monthly, therefore accrued interest is typically for a period of 30 days or less. The unfunded commitment balance was $81 million as of June 30, 2020. The Company evaluates the performance and credit quality of the commercial mortgage loan portfolio at least on a quarterly basis, or as needed, by utilizing common metrics such as loan-to-value and debt service coverage ratios as well as evaluating the fair value of the underlying collateral. The fair value of the underlying collateral is based on a third-party appraisal of the property at origination of the loan, and is reviewed on an annual basis thereafter, or more frequently when a loan is materially underperforming, 30 days delinquent, or in technical default. The Company determines the probability of estimated losses for the commercial mortgage loan portfolio on a pool basis each quarter and records an allowance. The allowance for credit losses is based on estimates, historical experience, probability of loss, value of the underlying collateral, and macro factors that affect the collectibility of the loan. Each loan within the pool is assigned a risk rating (credit quality indicator) of low, medium, and high based on risk and expected future performance. A loan that is assigned as high risk would have a higher probability of a potential principal loss. The assigned risk category and the estimated loss rate is adjusted each quarter for current and forecasted economic factors management believes are relevant. If management determines that foreclosure of a particular property is probable, the Company may elect the practical expedient for an individual mortgage loan to estimate the expected credit losses, which are based on the fair value of the property less amortized cost, adjusted for selling and other associated costs. See Note 4 for current activity. Other Receivables, Agent Debit Balances : Agent debit balances primarily represent commissions advanced to insurance agents, a common industry practice. These balances are repaid to the Company over time, generally one year, as the premiums associated with the advanced commissions are collected by the Company and a portion of the agents' commissions on such premiums are retained in order to repay the balances. The balances were $428 million at June 30, 2020 and $424 million at December 31, 2019. When an agent sells a policy, commissions are advanced to the agent, and the collection of the advance is made as long as the policy stays in force. While there is a susceptibility to loss should an agent terminate or excessive policy lapses occur, the ability of the Company to continue to collect an agent's commission streams over time from prior sales of policies reduces the Company's exposure to loss. The Company has a very low inherent risk with regards to the collection of agent debit balances and views these balances as recoverable since they are, in aggregate, less than the estimated present value of future commissions discounted at a conservative rate which includes assumptions for lapses and mortality. The Company’s security, or collateral, is in the form of future commission streams collected over the life of the policies sold by the respective agents, which ultimately revert to the Company in the event an agent is terminated. The Company evaluated the agent debit balances on a pool basis to determine the allowance for credit losses, as the loans have similar characteristics. A provision for credit losses will be recorded in Realized gains (losses) on the Condensed Consolidated Statement of Operations and the asset balance will be reflected as Agent Debit Balances, net of allowance for credit losses ( Other receivables ). Based on factors considered by management, there were no additional credit losses recorded during the three months ended June 30, 2020. As of June 30, 2020, the allowance for credit losses was $1.2 million compared with $1.0 million as of December 31, 2019.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	Note 2—New Accounting Standards Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2016-13/2019-04/2019-05 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard ("CECL") provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are recorded at amortized cost. Additionally, it changes the loss impairment methodology for available-for-sale fixed maturities by the use of an allowance rather than a direct write down. This standard became effective on January 1, 2020. The Company's available-for-sale fixed maturities and other financing receivables (commercial mortgage loans and agent debit balances) were concluded to be the relevant financial assets within the scope of the standard. See Note 1 for information on the adoption and revised accounting policies. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This standard was issued primarily to provide optional expedients for simplifying the accounting for contract modifications to existing agreements, which is expected to arise from the market's transition from LIBOR to the secured overnight financing rate (SOFR) as a result of reference rate reform. This standard became effective upon issuance, or March 12, 2020, and will remain effective until December 31, 2022. The Company has limited assets and liabilities that utilize LIBOR as a benchmark rate. We will continue to monitor the progress towards the establishment of a new floating rate; however, we do not expect a material impact at this time. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019. ASU 2018-12 is a significant change to our current accounting and disclosure of long-duration contracts, which is our primary business. The guidance was primarily issued to: 1) improve the timeliness of recognizing changes in the liability for future policy benefits and modify the rate used to discount future cash flows, 2) simplify and improve the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, 3) simplify the amortization of deferred acquisition costs, and 4) improve the effectiveness of the required disclosures. The current effective date for this standard is January 1, 2022. On July 9, 2020, the FASB issued a proposed ASU to delay LDTI an additional year until January 1, 2023. Early adoption is available. The Company is currently in the process of evaluating the impact this standard will have on the consolidated financial statements and disclosures, specifically assessing key accounting policies, assumption and data inputs, controls, and enhanced system solutions. ASU No. 2018-14 , Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20), Changes to the Disclosure Requirements for Defined Benefit Plans The standard removes disclosures that are no longer considered cost beneficial, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant to defined benefit plans. This standard is effective beginning January 1, 2021, and will be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial statements.

Supplemental Information about

Supplemental Information about Changes to Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Supplemental Information about Changes to Accumulated Other Comprehensive Income	Note 3—Supplemental Information about Changes to Accumulated Other Comprehensive Income Components of Accumulated Other Comprehensive Income : An analysis of the change in balance by component of Accumulated Other Comprehensive Income is as follows for the three and six month periods ended June 30, 2020 and 2019: Three Months Ended June 30, 2020 Available Deferred Foreign Pension Total Balance at April 1, 2020 $ 1,222,159 $ (5,613) $ (9,621) $ (140,678) $ 1,066,247 Other comprehensive income (loss) before reclassifications, net of tax 1,151,193 301 13,387 — 1,164,881 Reclassifications, net of tax (2,520) — — 3,285 765 Other comprehensive income (loss) 1,148,673 301 13,387 3,285 1,165,646 Balance at June 30, 2020 $ 2,370,832 $ (5,312) $ 3,766 $ (137,393) $ 2,231,893 Three Months Ended June 30, 2019 Available Deferred Foreign Pension Total Balance at April 1, 2019 $ 984,701 $ (6,691) $ 8,937 $ (116,880) $ 870,067 Other comprehensive income (loss) before reclassifications, net of tax 568,073 135 (31) — 568,177 Reclassifications, net of tax (666) — — 1,672 1,006 Other comprehensive income (loss) 567,407 135 (31) 1,672 569,183 Balance at June 30, 2019 $ 1,552,108 $ (6,556) $ 8,906 $ (115,208) $ 1,439,250 Six Months Ended June 30, 2020 Available Deferred Foreign Pension Total Balance at January 1, 2020 $ 1,982,650 $ (5,916) $ 12,058 $ (143,962) $ 1,844,830 Other comprehensive income (loss) before reclassifications, net of tax 368,257 604 (8,292) — 360,569 Reclassifications, net of tax 19,925 — — 6,569 26,494 Other comprehensive income (loss) 388,182 604 (8,292) 6,569 387,063 Balance at June 30, 2020 $ 2,370,832 $ (5,312) $ 3,766 $ (137,393) $ 2,231,893 Six Months Ended June 30, 2019 Available Deferred Foreign Pension Total Balance at January 1, 2019 $ 435,698 $ (4,163) $ 6,495 $ (118,555) $ 319,475 Other comprehensive income (loss) before reclassifications, net of tax 1,119,007 (2,393) 2,411 — 1,119,025 Reclassifications, net of tax (2,597) — — 3,347 750 Other comprehensive income (loss) 1,116,410 (2,393) 2,411 3,347 1,119,775 Balance at June 30, 2019 $ 1,552,108 $ (6,556) $ 8,906 $ (115,208) $ 1,439,250 Reclassification adjustments : Reclassification adjustments out of Accumulated Other Comprehensive Income are presented below for the three and six month periods ended June 30, 2020 and 2019. Three Months Ended Six Months Ended June 30, Affected line items in the Statement of Operations Component Line Item 2020 2019 2020 2019 Unrealized investment (gains) losses on available for sale assets: Realized (gains) losses $ (5,063) $ (2,237) $ 21,857 $ (5,907) Realized (gains) losses Amortization of (discount) premium 1,873 1,394 3,365 2,620 Net investment income Total before tax (3,190) (843) 25,222 (3,287) Tax 670 177 (5,297) 690 Income taxes Total after-tax (2,520) (666) 19,925 (2,597) Pension adjustments: Amortization of prior service cost 158 158 316 316 Other operating expense Amortization of actuarial (gain) loss 4,000 1,960 7,999 3,922 Other operating expense Total before tax 4,158 2,118 8,315 4,238 Tax (873) (446) (1,746) (891) Income taxes Total after-tax 3,285 1,672 6,569 3,347 Total reclassification (after-tax) $ 765 $ 1,006 $ 26,494 $ 750

Investments

Investments	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	Note 4—Investments Portfolio Composition : Summaries of fixed maturities available for sale by amortized cost, fair value, and allowance for credit losses at June 30, 2020 and December 31, 2019, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows. Redeemable preferred stock is included within the corporates by sector. As noted in Note 1—Significant Accounting Policies , the Company prospectively adopted ASU 2016-13 as of January 1, 2020 for the available-for-sale fixed maturities. Results after January 1, 2020 are presented under ASU 2016-13, while prior periods continue to be reported in accordance with previously applicable GAAP. See additional discussion of the allowance for credit losses later in this note. At June 30, 2020 Allowance for Credit Losses Gross Gross Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 377,555 $ — $ 89,319 $ (58) $ 466,816 2 States, municipalities, and political subdivisions 1,617,951 — 206,554 (478) 1,824,027 9 Foreign governments 33,900 — 2,633 (17) 36,516 — Corporates, by sector: Financial 4,303,589 — 798,500 (53,564) 5,048,525 26 Utilities 1,930,929 — 518,495 (1,616) 2,447,808 13 Energy 1,663,051 (32,719) 209,597 (53,861) 1,786,068 9 Other corporate sectors 6,584,590 — 1,294,194 (21,202) 7,857,582 40 Total corporates 14,482,159 (32,719) 2,820,786 (130,243) 17,139,983 88 Collateralized debt obligations 57,031 — 21,988 (9,920) 69,099 — Other asset-backed securities 129,304 — 2,866 (7,429) 124,741 1 Total fixed maturities $ 16,697,900 $ (32,719) $ 3,144,146 $ (148,145) $ 19,661,182 100 (1) Amount reported in the balance sheet. (2) At fair value. At December 31, 2019 Amortized Gross Gross Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 396,079 $ 41,737 $ (296) $ 437,520 2 States, municipalities, and political subdivisions 1,559,736 158,546 (626) 1,717,656 9 Foreign governments 25,874 2,073 (396) 27,551 — Corporates, by sector: Financial 4,101,917 701,196 (22,307) 4,780,806 25 Utilities 1,937,738 416,114 (1,565) 2,352,287 13 Energy 1,678,969 269,640 (33,725) 1,914,884 10 Other corporate sectors 6,514,677 955,908 (16,765) 7,453,820 40 Total corporates 14,233,301 2,342,858 (74,362) 16,501,797 88 Collateralized debt obligations 56,990 24,298 (7,184) 74,104 — Other asset-backed securities 143,796 5,094 (371) 148,519 1 Total fixed maturities $ 16,415,776 $ 2,574,606 $ (83,235) $ 18,907,147 100 (1) Amount reported in the balance sheet. (2) At fair value. A schedule of fixed maturities available for sale by contractual maturity date at June 30, 2020 is shown below on an amortized cost, net of allowance for credit losses basis and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. At June 30, 2020 Amortized Fair Fixed maturities available for sale: Due in one year or less $ 62,732 $ 63,550 Due after one year through five years 745,715 816,256 Due after five years through ten years 1,783,317 2,065,078 Due after ten years through twenty years 5,788,845 7,141,059 Due after twenty years 8,097,882 9,381,016 Mortgage-backed and asset-backed securities 186,690 194,223 $ 16,665,181 $ 19,661,182 Analysis of Investment Operations: Net investment income for the three and six month periods ended June 30, 2020 and 2019 is summarized as follows: Three Months Ended Six Months Ended 2020 2019 % Change 2020 2019 % Change Fixed maturities available for sale $ 217,556 $ 215,867 1 $ 434,683 $ 431,630 1 Policy loans 11,213 10,821 4 22,331 21,457 4 Other long-term investments (1) 7,146 3,991 79 11,769 7,379 59 Short-term investments 134 763 (82) 441 1,582 (72) 236,049 231,442 2 469,224 462,048 2 Less investment expense (4,481) (4,017) 12 (8,665) (7,950) 9 Net investment income $ 231,568 $ 227,425 2 $ 460,559 $ 454,098 1 (1) For the three months ended June 30, 2020 and 2019, the investment funds, accounted for under the fair value option method, recorded $4.5 million and $1.4 million, respectively in net investment income. For the six months ended June 30, 2020 and 2019, the investment funds, accounted for under the fair value option method, recorded $6.5 million and $2.8 million, respectively in net investment income. Selected information about sales of fixed maturities available for sale is as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Fixed maturities available for sale: Proceeds from sales (1) $ 1,660 $ — $ 52,020 $ 34,997 Gross realized gains — — 2,642 46 Gross realized losses (371) — (371) (3,027) (1) There were no unsettled sales in the periods ended June 30, 2020 and 2019. An analysis of realized gains (losses) is as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Realized investment gains (losses): Fixed maturities available for sale: Sales and other (1) $ 5,928 $ 2,237 $ 10,862 $ 5,907 Provision for credit losses (865) — (32,719) — Fair value option—change in fair value (19,434) 2,869 (18,851) 684 Other investments 9,581 48 9,821 (108) Realized gains (losses) from investments (4,790) 5,154 (30,887) 6,483 Applicable tax 1,006 (1,082) 6,486 (1,361) Realized gains (losses), net of tax $ (3,784) $ 4,072 $ (24,401) $ 5,122 (1) During the three months ended June 30, 2020 and 2019, the Company recorded $80.4 million and $48.3 million of exchanges of fixed maturities (noncash transactions) that resulted in $7.9 million and $2.5 million, respectively in realized gains (losses). During the six months ended June 30, 2020 and 2019, the Company recorded $86.3 million and $117.2 million of exchanges of fixed maturities (noncash transactions) that resulted in $7.9 million and $8.3 million, respectively in realized gains (losses). Fair Value Measurements: The following tables represent the fair value of fixed maturities measured on a recurring basis at June 30, 2020 and December 31, 2019: Fair Value Measurement at June 30, 2020 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 466,816 $ — $ 466,816 States, municipalities, and political subdivisions — 1,824,027 — 1,824,027 Foreign governments — 36,516 — 36,516 Corporates, by sector: Financial — 4,900,057 148,468 5,048,525 Utilities — 2,286,065 161,743 2,447,808 Energy — 1,748,616 37,452 1,786,068 Other corporate sectors — 7,546,329 311,253 7,857,582 Total corporates — 16,481,067 658,916 17,139,983 Collateralized debt obligations — — 69,099 69,099 Other asset-backed securities — 111,861 12,880 124,741 Total fixed maturities $ — $ 18,920,287 $ 740,895 $ 19,661,182 Percentage of total — % 96 % 4 % 100 % Fair Value Measurement at December 31, 2019 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 437,520 $ — $ 437,520 States, municipalities, and political subdivisions — 1,717,656 — 1,717,656 Foreign governments — 27,551 — 27,551 Corporates, by sector: Financial — 4,628,875 151,931 4,780,806 Utilities — 2,195,539 156,748 2,352,287 Energy — 1,873,482 41,402 1,914,884 Other corporate sectors — 7,131,773 322,047 7,453,820 Total corporates — 15,829,669 672,128 16,501,797 Collateralized debt obligations — — 74,104 74,104 Other asset-backed securities — 135,342 13,177 148,519 Total fixed maturities $ — $ 18,147,738 $ 759,409 $ 18,907,147 Percentage of total — % 96 % 4 % 100 % The following tables represent changes in fixed maturities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Asset- backed Securities Collateralized Corporates Total Balance at January 1, 2020 $ 13,177 $ 74,104 $ 672,128 $ 759,409 Included in realized gains / losses — — 1,213 1,213 Included in other comprehensive income (250) (5,046) 11,765 6,469 Acquisitions — — — — Sales — — — — Amortization — 2,275 4 2,279 Other (1) (47) (2,234) (26,194) (28,475) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at June 30, 2020 $ 12,880 $ 69,099 $ 658,916 $ 740,895 Percent of total fixed maturities — % 1 % 3 % 4 % (1) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (2) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available. Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Asset- backed Securities Collateralized Corporates Total Balance at January 1, 2019 $ 12,982 $ 73,369 $ 553,471 $ 639,822 Included in realized gains / losses — — — — Included in other comprehensive income 441 6,306 23,620 30,367 Acquisitions — — — — Sales — — — — Amortization — 2,315 7 2,322 Other (1) (220) (2,912) (6,927) (10,059) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at June 30, 2019 $ 13,203 $ 79,078 $ 570,171 $ 662,452 Percent of total fixed maturities — % 1 % 3 % 4 % (1) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (2) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available. The following table presents changes in unrealized gains or (losses) for the period included in other comprehensive income for assets held at the end of the reporting period for Level 3s: Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period Asset- Collateralized Corporates Total At June 30, 2020 $ (250) $ (5,046) $ 11,765 $ 6,469 At June 30, 2019 441 6,306 23,620 30,367 Unrealized Loss Analysis : The following table discloses information about fixed maturities available for sale in an unrealized loss position. Less than Twelve Months Twelve Months or Longer Total Number of issues (CUSIPs) held: As of June 30, 2020 102 35 137 As of December 31, 2019 82 51 133 Globe Life's entire fixed maturity portfolio consisted of 1,731 issues by 711 different issuers at June 30, 2020 and 1,633 issues by 656 different issuers at December 31, 2019. The weighted-average quality rating of all unrealized loss positions at amortized cost as of June 30, 2020 was BB+ compared with BBB- as of December 31, 2019. The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale for which an allowance for credit losses has not been recorded at June 30, 2020. Analysis of Gross Unrealized Investment Losses At June 30, 2020 Less than Twelve Months Twelve Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ — $ 1,968 $ (58) $ 1,968 $ (58) States, municipalities and political subdivisions 21,170 (478) — — 21,170 (478) Foreign governments 4,690 (17) — — 4,690 (17) Corporates, by sector: Financial 205,161 (10,765) 5,594 (2,906) 210,755 (13,671) Utilities — — — — — — Energy 299,831 (23,252) 1,736 (212) 301,567 (23,464) Other corporate sectors 106,389 (7,081) 17,844 (155) 124,233 (7,236) Total corporates 611,381 (41,098) 25,174 (3,273) 636,555 (44,371) Other asset-backed securities 47,730 (5,642) 8 — 47,738 (5,642) Total investment grade securities 684,971 (47,235) 27,150 (3,331) 712,121 (50,566) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 33,256 (6,676) 99,492 (33,217) 132,748 (39,893) Utilities 11,387 (246) 14,307 (1,370) 25,694 (1,616) Energy 62,252 (8,099) 55,653 (22,298) 117,905 (30,397) Other corporate sectors 33,629 (2,741) 68,808 (11,225) 102,437 (13,966) Total corporates 140,524 (17,762) 238,260 (68,110) 378,784 (85,872) Collateralized debt obligations — — 10,080 (9,920) 10,080 (9,920) Other asset-backed securities — — 12,314 (1,787) 12,314 (1,787) Total below investment grade securities 140,524 (17,762) 260,654 (79,817) 401,178 (97,579) Total fixed maturities $ 825,495 $ (64,997) $ 287,804 $ (83,148) $ 1,113,299 $ (148,145) Gross unrealized losses may fluctuate quarter over quarter due to adverse factors in the market that affect our holdings, such as changes in interest rates or credit spreads. As noted in Note 1 , the Company considers many factors when determining whether a credit loss exists. While the Company holds securities that may be in an unrealized loss position from time to time, Globe Life does not intend to sell and it is likely that management will not be required to sell the fixed maturities prior to their anticipated recovery due to the strong cash flows generated by its insurance operations. The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale at December 31, 2019. Globe Life considered these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At December 31, 2019 Less than Twelve Months Twelve Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 1,255 $ (2) $ 21,044 $ (294) $ 22,299 $ (296) States, municipalities and political subdivisions 66,774 (626) — — 66,774 (626) Foreign governments 6,496 (396) — — 6,496 (396) Corporates, by sector: Financial 117,389 (1,733) 7,183 (1,317) 124,572 (3,050) Utilities 8,400 (166) — — 8,400 (166) Energy 52,312 (1,058) 1,833 (115) 54,145 (1,173) Other corporate sectors 136,386 (1,584) 61,473 (3,260) 197,859 (4,844) Total corporates 314,487 (4,541) 70,489 (4,692) 384,976 (9,233) Other asset-backed securities — — — — — — Total investment grade securities 389,012 (5,565) 91,533 (4,986) 480,545 (10,551) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial — — 113,481 (19,257) 113,481 (19,257) Utilities 7,529 (135) 14,985 (1,264) 22,514 (1,399) Energy 14,968 (146) 69,956 (32,406) 84,924 (32,552) Other corporate sectors — — 67,655 (11,921) 67,655 (11,921) Total corporates 22,497 (281) 266,077 (64,848) 288,574 (65,129) Collateralized debt obligations — — 12,816 (7,184) 12,816 (7,184) Other asset-backed securities — — 13,879 (371) 13,879 (371) Total below investment grade securities 22,497 (281) 292,772 (72,403) 315,269 (72,684) Total fixed maturities $ 411,509 $ (5,846) $ 384,305 $ (77,389) $ 795,814 $ (83,235) Fixed Maturities, Allowance for Credit Losses : A summary of the activity in the allowance for credit losses is as follows. Based on key factors considered by management, a provision for credit losses of $33 million was recorded for one energy issuer during the six months ended June 30, 2020. Refer to Note 1 for factors considered in the recording of the allowance for credit losses. Three Months Ended Six Months Ended 2020 2019 2020 2019 Allowance for credit losses beginning balance $ 31,854 $ — $ — $ — Additions to allowance for which credit losses were not previously recorded — — 31,854 — Additions (reductions) to allowance for fixed maturities that previously had an allowance 865 — 865 — Reduction of allowance for which the Company intends to sell or more likely than not will be required to sell — — — — Allowance for credit losses ending balance $ 32,719 $ — $ 32,719 $ — As of June 30, 2020 and December 31, 2019, the Company did not have any fixed maturities in non-accrual status. Other Long-Term Investments : Other long-term investments consist of the following assets: June 30, December 31, Investment funds $ 264,246 $ 185,851 Commercial mortgage loan participations 164,420 137,692 Other 3,659 2,804 Total $ 432,325 $ 326,347 The investment funds consist of limited partnerships whereby the Company has a pro-rata share of ownership ranging from 1% to 20%. For each investment, the Company has elected the fair value option, but would have been otherwise accounted for as an equity method investment. The fair value option is assessed for each individual investment and concluded at the inception of the investment. Additionally, each investment is evaluated under ASC 810, Consolidation to determine if it is a variable interest entity and would qualify for consolidation; none of the investments qualify for consolidation as the Company is not the primary beneficiary in any of these investments. The investments are reported at the Company's pro-rata share of the investment fund's net asset value or its equivalent (NAV) as a practical expedient for fair value. Changes in the net asset value are recorded in Realized gains (losses) on the Condensed Consolidated Statements of Operations

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5—Commitments and Contingencies Litigation : Globe Life Inc. (formerly Torchmark Corporation) and its subsidiaries, in common with the insurance industry in general, are subject to litigation, including putative class action litigation, alleged breaches of contract, torts, including bad faith and fraud claims based on alleged wrongful or fraudulent acts of agents of the Parent Company's insurance subsidiaries, employment discrimination, and miscellaneous other causes of action. Based upon information presently available, and in light of legal and other factual defenses available to the Parent Company and its subsidiaries, management does not believe that it is reasonably possible that such litigation will have a material adverse effect on Globe Life's financial condition, future operating results or liquidity; however, assessing the eventual outcome of litigation necessarily involves forward-looking speculation as to judgments to be made by judges, juries and appellate courts in the future. This bespeaks caution, particularly in states with reputations for high punitive damage verdicts. Globe Life's management recognizes that large punitive damage awards bearing little or no relation to actual damages continue to be awarded by juries in jurisdictions in which the Company has substantial business, creating the potential for unpredictable material adverse judgments in any given punitive damage suit. With respect to the aforementioned litigation, at this time, management believes that the possibility of a material judgment adverse to the Company is remote.

Liability for Unpaid Claims

Liability for Unpaid Claims	6 Months Ended
	Jun. 30, 2020
Insurance [Abstract]
Liability for Unpaid Claims	Note 6—Liability for Unpaid Claims Activity in the liability for unpaid health claims is summarized as follows: Six Months Ended 2020 2019 Balance at beginning of period $ 163,808 $ 154,528 Incurred related to: Current year 301,767 302,129 Prior year (4,139) 77 Total incurred 297,628 302,206 Paid related to: Current year 251,768 190,599 Prior year 40,503 110,587 Total paid 292,271 301,186 Balance at end of period $ 169,165 $ 155,548 Below is the reconciliation of the liability of "Policy claims and other benefits payable " in the Condensed Consolidated Balance Sheets . June 30, December 31, Policy claims and other benefits payable: Life insurance $ 211,013 $ 201,594 Health insurance 169,165 163,808 Total $ 380,178 $ 365,402

Postretirement Benefits

Postretirement Benefits	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Postretirement Benefits	Note 7—Postretirement Benefits Globe Life has qualified noncontributory defined benefit pension plans and contributory savings plans that cover substantially all employees. There is also a nonqualified noncontributory supplemental executive retirement plan (SERP) that covers a limited number of employees. The tables included herein will focus on the defined benefit plans ("Pension Plan") and SERP. Pension Assets: The following table presents the assets of the Company's defined benefit pension plans at June 30, 2020 and December 31, 2019. Pension Assets by Component at June 30, 2020 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ — $ 52,297 $ — $ 52,297 11 Utilities — 43,921 — 43,921 9 Energy — 20,497 — 20,497 4 Other corporates — 92,000 — 92,000 20 Total corporate bonds — 208,715 — 208,715 44 Exchange traded fund (1) 199,512 — — 199,512 42 Other bonds — 266 — 266 — Guaranteed annuity contract (2) — 28,551 — 28,551 6 Short-term investments 19,992 — — 19,992 4 Other 6,376 — — 6,376 1 $ 225,880 $ 237,532 $ — 463,412 97 Other long-term investments (3) 14,768 3 Total pension assets $ 478,180 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Non-Exempt Employees Defined Benefit Pension Plan ("American Income Pension Plan"). (3) Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns less than 1% of the investment fund. As of June 30, 2020, the expected term of the investment fund is approximately 4 years and the commitment of the investment is fully funded. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures. Pension Assets by Component at December 31, 2019 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ — $ 51,111 $ — $ 51,111 11 Utilities — 42,758 — 42,758 9 Energy — 21,907 — 21,907 5 Other corporates — 89,725 — 89,725 19 Total corporate bonds — 205,501 — 205,501 44 Exchange traded fund (1) 207,176 — — 207,176 44 Other bonds — 251 — 251 — Guaranteed annuity contract (2) — 28,278 — 28,278 6 Short-term investments 8,414 — — 8,414 2 Other 6,876 — — 6,876 1 $ 222,466 $ 234,030 $ — 456,496 97 Other long-term investments (3) 12,267 3 Total pension assets $ 468,763 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. (3) Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns approximately 1% of the investment fund. As of December 31, 2019, the expected term of the investment fund is approximately 5 years and the unfunded commitment of the investment fund is $4.1 million. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures. SERP : The following table includes information regarding the SERP. Six Months Ended 2020 2019 Premiums paid for insurance coverage $ 443 $ 444 June 30, December 31, Total investments: Company owned life insurance $ 48,855 $ 47,733 Exchange traded funds 66,254 65,585 $ 115,109 $ 113,318 Pension and SERP Liabilities : The following table presents liabilities for the defined benefit pension plans and SERP at June 30, 2020 and December 31, 2019. June 30, December 31, Defined benefit pension $ 577,841 $ 578,860 SERP 86,742 86,347 Pension benefit obligation $ 664,583 $ 665,207 Net Periodic Benefit Cost: The following table presents the net periodic benefit costs for the defined benefit pension plans and SERP by expense components for the three and six months ended June 30, 2020 and 2019. Components of Net Periodic Benefit Cost Three Months Ended Six Months Ended 2020 2019 2020 2019 Service cost $ 6,115 $ 4,983 $ 12,231 $ 9,965 Interest cost 5,647 5,964 11,298 11,928 Expected return on assets (7,391) (6,966) (14,781) (13,932) Amortization: Prior service cost 158 158 316 316 Actuarial (gain) loss 3,925 1,896 7,849 3,790 Net periodic benefit cost $ 8,454 $ 6,035 $ 16,913 $ 12,067

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 8—Earnings Per Share Earnings per Share : A reconciliation of basic and diluted weighted-average shares outstanding used in the computation of basic and diluted earnings per share is as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Basic weighted average shares outstanding 106,441,311 109,649,714 106,863,267 109,973,820 Weighted average dilutive options outstanding 692,706 1,935,962 1,195,173 1,975,492 Diluted weighted average shares outstanding 107,134,017 111,585,676 108,058,440 111,949,312 Antidilutive shares 5,417,077 1,359,686 2,281,300 1,359,686

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Business Segments	Note 9—Business Segments Globe Life is organized into four segments: life insurance, supplemental health insurance, annuities, and investments. In addition, other expenses not included in these segments are reported in "Corporate & Other." Globe Life's reportable insurance segments are based on the insurance product lines it markets and administers: life insurance, supplemental health insurance, and annuities. These major product lines are set out as reportable segments because of the common characteristics of products within these categories, comparability of margins, and the similarity in regulatory environment and management techniques. There is also an investment segment which manages the investment portfolio, debt, and cash flow for the insurance segments and the corporate function. The Company's chief operating decision makers evaluate the overall performance of the operations of the Company in accordance with these segments. Life insurance products marketed by Globe Life include traditional whole life and term life insurance. Health insurance products are generally guaranteed-renewable and include Medicare Supplement, critical illness, accident, and limited-benefit supplemental hospital and surgical coverage. Annuities include fixed-benefit contracts. Globe Life markets its insurance products through a number of distribution channels, each of which sells the products of one or more of Globe Life's insurance segments. Our distribution channels consist of the following exclusive agencies: American Income Life Division (American Income), Liberty National Division (Liberty National) and Family Heritage Division (Family Heritage); an independent agency, United American Division (United American); and our Direct to Consumer Division (Direct to Consumer). The tables below present segment premium revenue by each of Globe Life's distribution channels. Premium Income by Distribution Channel Three Months Ended June 30, 2020 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 308,675 46 $ 25,554 9 $ — — $ 334,229 35 Direct to Consumer 235,201 35 19,060 7 — — 254,261 27 Liberty National 73,326 11 47,391 17 — — 120,717 13 United American 2,481 — 112,885 40 3 100 115,369 12 Family Heritage 1,042 — 77,987 27 — — 79,029 8 Other 50,097 8 — — — — 50,097 5 $ 670,822 100 $ 282,877 100 $ 3 100 $ 953,702 100 Three Months Ended June 30, 2019 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 288,334 46 $ 24,450 9 $ — — $ 312,784 35 Direct to Consumer 217,278 35 19,249 7 — — 236,527 26 Liberty National 71,478 11 47,292 18 — — 118,770 13 United American 2,647 — 102,254 38 1 100 104,902 12 Family Heritage 927 — 73,037 28 — — 73,964 8 Other 50,537 8 — — — — 50,537 6 $ 631,201 100 $ 266,282 100 $ 1 100 $ 897,484 100 Premium Income by Distribution Channel Six Months Ended June 30, 2020 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 611,527 46 $ 51,281 9 $ — — $ 662,808 35 Direct to Consumer 455,244 35 38,856 7 — — 494,100 26 Liberty National 146,194 11 95,031 17 — — 241,225 13 United American 4,971 — 222,944 40 3 100 227,918 12 Family Heritage 2,063 — 154,970 27 — — 157,033 9 Other 100,453 8 — — — — 100,453 5 $ 1,320,452 100 $ 563,082 100 $ 3 100 $ 1,883,537 100 Six Months Ended June 30, 2019 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 570,101 45 $ 48,549 9 $ — — $ 618,650 35 Direct to Consumer 434,837 35 39,509 7 — — 474,346 26 Liberty National 142,195 11 95,448 18 — — 237,643 13 United American 5,398 1 205,159 39 1 100 210,558 12 Family Heritage 1,858 — 144,301 27 — — 146,159 8 Other 101,101 8 — — — — 101,101 6 $ 1,255,490 100 $ 532,966 100 $ 1 100 $ 1,788,457 100 Due to the nature of the life insurance industry, Globe Life has no individual or group that would be considered a major customer. Substantially all of Globe Life's business is conducted in the United States. The measure of profitability established by the chief operating decision makers for the insurance segments is underwriting margin before other income and administrative expenses, in accordance with the manner the segments are managed. It essentially represents gross profit margin on insurance products before insurance administrative expenses and consists primarily of premium less net policy benefits, acquisition expenses, and commissions. Required interest on net policy liabilities (benefit reserves less deferred acquisition costs) is reflected as a component of the Investment segment (rather than as a component of underwriting margin in the insurance and annuity segments) in order to match this cost with the investment income earned on the assets supporting the net policy liabilities. The measure of profitability for the Investment segment is excess investment income, representing the income earned on the investment portfolio in excess of net policy requirements and financing costs associated with Globe Life's debt. Other than the above-mentioned interest allocations and an intersegment commission, there are no other intersegment revenues or expenses. Expenses directly attributable to corporate operations are included in the “Corporate & Other” category. Stock-based compensation expense is considered a corporate expense by Globe Life management and is included in this category. All other unallocated revenues and expenses on a pretax basis, including insurance administrative expense, are also included in the “Corporate & Other” segment category. Globe Life holds a sizable investment portfolio to support its insurance liabilities, the yield from which is used to offset policy benefit, acquisition, administrative and tax expenses. This yield or investment income is taken into account when establishing premium rates and profitability expectations of its insurance products. From time to time, investments are sold or called, or experience a credit loss event, each of which are reflected by the Company as realized gains (losses). These gains or losses generally occur as a result of disposition due to issuer calls, compliance with Company investment policies, or other reasons often beyond management’s control. Unlike investment income, realized gains and losses are incidental to insurance operations, and only overall yields are considered when setting premium rates or insurance product profitability expectations. While these gains and losses are not relevant to segment profitability or core operating results, they can have a material positive or negative result on net income. For these reasons, management removes realized investment gains and losses when it views its segment operations. Management removes items that are related to prior periods when evaluating the operating results of current periods. Management also removes non-operating items unrelated to its core insurance activities when evaluating those results. Therefore, these items are excluded in its presentation of segment results, because accounting guidance requires that operating segment results be presented as management views its business. With the exception of the administrative settlements noted in the paragraphs above, all of these items are included in “Other operating expense” in the Condensed Consolidated Statements of Operations for the appropriate year. See additional detail below in the tables. The following tables set forth a reconciliation of Globe Life's revenues and operations by segment to its major income statement line items. See Note—1 Significant Accounting Policies for additional information concerning reconciling items of segment profits to pretax income. Three Months Ended June 30, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 670,822 $ 282,877 $ 3 $ — $ — $ — $ 953,702 Net investment income — — — 231,568 — — 231,568 Other income — — — — 404 — 404 Total revenue 670,822 282,877 3 231,568 404 — 1,185,674 Expenses: Policy benefits 459,845 183,496 7,475 — — — 650,816 Required interest on reserves (173,208) (22,851) (10,332) 206,391 — — — Required interest on DAC 52,107 6,582 84 (58,773) — — — Amortization of acquisition costs 117,802 27,854 504 — — — 146,160 Commissions, premium taxes, and non-deferred acquisition costs 52,577 23,556 7 — — — 76,140 Insurance administrative expense (1) — — — — 61,566 61,566 Parent expense — — — — 2,516 — 2,516 Stock-based compensation expense — — — — 8,632 — 8,632 Interest expense — — — 22,813 — — 22,813 Total expenses 509,123 218,637 (2,262) 170,431 72,714 — 968,643 Subtotal 161,699 64,240 2,265 61,137 (72,310) — 217,031 Non-operating items — — — — — — Measure of segment profitability (pretax) $ 161,699 $ 64,240 $ 2,265 $ 61,137 $ (72,310) $ — 217,031 Realized gain (loss)—investments (4,790) Income before income taxes per Condensed Consolidated Statements of Operations $ 212,241 (1) Administrative expense is not allocated to insurance segments. Three Months Ended June 30, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 631,201 $ 266,282 $ 1 $ — $ — $ — $ 897,484 Net investment income — — — 227,425 — — 227,425 Other income — — — — 398 — 398 Total revenue 631,201 266,282 1 227,425 398 — 1,125,307 Expenses: Policy benefits 410,961 170,511 7,890 — — — 589,362 Required interest on reserves (165,513) (21,680) (10,888) 198,081 — — — Required interest on DAC 50,298 6,341 127 (56,766) — — — Amortization of acquisition costs 110,319 27,343 503 — — — 138,165 Commissions, premium taxes, and non-deferred acquisition costs 50,086 23,608 4 — — — 73,698 Insurance administrative expense (1) — — — — 59,416 5,500 (2) 64,916 Parent expense — — — — 2,872 — 2,872 Stock-based compensation expense — — — — 11,256 — 11,256 Interest expense — — — 21,432 — — 21,432 Total expenses 456,151 206,123 (2,364) 162,747 73,544 5,500 901,701 Subtotal 175,050 60,159 2,365 64,678 (73,146) (5,500) 223,606 Non-operating items — — — — — 5,500 (2) 5,500 Measure of segment profitability (pretax) $ 175,050 $ 60,159 $ 2,365 $ 64,678 $ (73,146) $ — 229,106 Realized gain (loss)—investments 5,154 Legal proceedings (5,500) Income before income taxes per Condensed Consolidated Statements of Operations $ 228,760 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings. Six Months Ended June 30, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,320,452 $ 563,082 $ 3 $ — $ — $ — $ 1,883,537 Net investment income — — — 460,559 — — 460,559 Other income — — — — 729 — 729 Total revenue 1,320,452 563,082 3 460,559 729 — 2,344,825 Expenses: Policy benefits 881,515 362,207 15,063 — — — 1,258,785 Required interest on reserves (344,413) (45,361) (20,788) 410,562 — — — Required interest on DAC 104,225 13,101 172 (117,498) — — — Amortization of acquisition costs 232,110 56,879 1,008 — — — 289,997 Commissions, premium taxes, and non-deferred acquisition costs 106,513 48,551 13 — — — 155,077 Insurance administrative expense (1) — — — — 125,186 3,275 (2) 128,461 Parent expense — — — — 4,847 — 4,847 Stock-based compensation expense — — — — 17,988 — 17,988 Interest expense — — — 43,621 — — 43,621 Total expenses 979,950 435,377 (4,532) 336,685 148,021 3,275 1,898,776 Subtotal 340,502 127,705 4,535 123,874 (147,292) (3,275) 446,049 Non-operating items — — — — — 3,275 (2) 3,275 Measure of segment profitability (pretax) $ 340,502 $ 127,705 $ 4,535 $ 123,874 $ (147,292) $ — 449,324 Realized gain (loss)—investments (30,887) Legal proceedings (3,275) Income before income taxes per Condensed Consolidated Statements of Operations $ 415,162 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings. Six Months Ended June 30, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,255,490 $ 532,966 $ 1 $ — $ — $ — $ 1,788,457 Net investment income — — — 454,098 — — 454,098 Other income — — — — 639 — 639 Total revenue 1,255,490 532,966 1 454,098 639 — 2,243,194 Expenses: Policy benefits 820,653 340,528 15,938 — — — 1,177,119 Required interest on reserves (329,175) (43,176) (22,008) 394,359 — — — Required interest on DAC 100,322 12,624 258 (113,204) — — — Amortization of acquisition costs 218,609 54,357 1,021 — — — 273,987 Commissions, premium taxes, and non-deferred acquisition costs 100,192 46,960 11 — — — 147,163 Insurance administrative expense (1) — — — — 118,607 5,900 (2,3) 124,507 Parent expense — — — — 5,515 — 5,515 Stock-based compensation expense — — — — 21,815 — 21,815 Interest expense — — — 42,710 — — 42,710 Total expenses 910,601 411,293 (4,780) 323,865 145,937 5,900 1,792,816 Subtotal 344,889 121,673 4,781 130,233 (145,298) (5,900) 450,378 Non-operating items — — — — — 5,900 (2,3) 5,900 Measure of segment profitability (pretax) $ 344,889 $ 121,673 $ 4,781 $ 130,233 $ (145,298) $ — 456,278 Realized gain (loss)—investments 6,483 Administrative settlements (400) Legal proceedings (5,500) Income before income taxes per Condensed Consolidated Statements of Operations $ 456,861 (1) Administrative expense is not allocated to insurance segments. (2) In 2019, the Company recorded $400 thousand in administrative settlements related to state regulatory examinations. (3) Legal proceedings.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Note 10—Debt Issuance of short-term debt : On April 9, 2020, Globe Life entered into a 364-Day Term Loan Agreement. The Agreement provided the Company with access to up to $300 million in unsecured term loans, all maturing on April 8, 2021. Globe Life borrowed the full amount on April 15, 2020 and used the proceeds for general corporate purposes, including additional holding Company liquidity and the repayment of a portion of outstanding commercial paper.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 11—Subsequent Events On July 31, 2020, the Company paid down the remaining principal balance of $82.5 million and $101 thousand in interest on the 5-year $100 million term loan with a maturity date of May 17, 2021.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying condensed consolidated financial statements of Globe Life have been prepared in accordance with the instructions to Form 10-Q. Therefore, they do not include all of the disclosures required by accounting principles generally accepted in the United States of America (GAAP) for annual financial statements. However, in the opinion of management, these statements include all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the condensed consolidated financial position at June 30, 2020, and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended June 30, 2020 and 2019. The interim period condensed consolidated financial statements should be read in conjunction with the Consolidated Financial Statements that are included in the Form 10-K filed with the Securities Exchange Commission (SEC) on February 27, 2020.
New Accounting Pronouncements	On January 1, 2020, the Company adopted ASU 2016-13, replacing the GAAP "incurred loss" model with a new methodology referred to as current expected credit losses (CECL). The previous methodology delayed recognition of credit losses until it was probable that a loss had incurred, ultimately resulting in fewer instances of losses being recorded in earnings. The new CECL methodology is forward looking—encompassing relevant information about historical experience, current conditions, as well as reasonable and supportable forecasts that affect the collectability of a reported amount. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables. The standard affected the Company's commercial mortgage loan participations ( Other long-term investments ) and agent debit balances ( Other receivables ). The Company adopted the standard using the modified retrospective method. The Company recorded a cumulative effect adjustment, net of tax of $454 thousand to retained earnings, consisting of $265 thousand, net of tax and $189 thousand, net of tax for commercial mortgage loan participations and agent debit balances, respectively. Refer to the table below for pre-tax amounts and Note 4—Investments for additional details. As reported on December 31, 2019 Pre-tax impact of adoption As reported on January 1, 2020 Assets: Commercial mortgage loan participations $ 137,692 $ (335) $ 137,357 Agent debit balances 423,877 (240) 423,637 In addition, the standard made changes to the accounting for available-for-sale debt securities through the removal of "other-than-temporary-impairment" (OTTI) write downs and replaced them with an allowance for credit losses. The new methodology will allow the Company to record reversals of credit losses in situations where the estimate of credit losses declines through current period net income ( Realized gains (losses) ). The Company adopted the standard using the prospective transition approach for available-for-sale fixed maturities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As a result, the amortized cost basis and the effective interest rate remain unchanged after the adoption of ASU 2016-13. Amortized cost will now be reflected as "amortized cost, net of allowance for credit losses" or "amortized cost, net." The Company has not elected the fair value option for any financial assets recorded at amortized cost that would be in scope of this standard. Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2016-13/2019-04/2019-05 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard ("CECL") provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are recorded at amortized cost. Additionally, it changes the loss impairment methodology for available-for-sale fixed maturities by the use of an allowance rather than a direct write down. This standard became effective on January 1, 2020. The Company's available-for-sale fixed maturities and other financing receivables (commercial mortgage loans and agent debit balances) were concluded to be the relevant financial assets within the scope of the standard. See Note 1 for information on the adoption and revised accounting policies. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This standard was issued primarily to provide optional expedients for simplifying the accounting for contract modifications to existing agreements, which is expected to arise from the market's transition from LIBOR to the secured overnight financing rate (SOFR) as a result of reference rate reform. This standard became effective upon issuance, or March 12, 2020, and will remain effective until December 31, 2022. The Company has limited assets and liabilities that utilize LIBOR as a benchmark rate. We will continue to monitor the progress towards the establishment of a new floating rate; however, we do not expect a material impact at this time. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019. ASU 2018-12 is a significant change to our current accounting and disclosure of long-duration contracts, which is our primary business. The guidance was primarily issued to: 1) improve the timeliness of recognizing changes in the liability for future policy benefits and modify the rate used to discount future cash flows, 2) simplify and improve the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, 3) simplify the amortization of deferred acquisition costs, and 4) improve the effectiveness of the required disclosures. The current effective date for this standard is January 1, 2022. On July 9, 2020, the FASB issued a proposed ASU to delay LDTI an additional year until January 1, 2023. Early adoption is available. The Company is currently in the process of evaluating the impact this standard will have on the consolidated financial statements and disclosures, specifically assessing key accounting policies, assumption and data inputs, controls, and enhanced system solutions. ASU No. 2018-14 , Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20), Changes to the Disclosure Requirements for Defined Benefit Plans The standard removes disclosures that are no longer considered cost beneficial, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant to defined benefit plans. This standard is effective beginning January 1, 2021, and will be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial statements.
Investments	Investments, Available-For-Sale Fixed Maturities : Globe Life classifies all of its fixed maturity investments as available for sale. Investments classified as available for sale are carried at fair value with unrealized gains and losses, net of taxes reflected directly in Accumulated other comprehensive income ("AOCI"). Income from investments is recorded in net investment income on the Condensed Consolidated Statements of Operations . Gains and losses from sales, maturities, or other redemptions of investments are recorded in Realized gains (losses) . Interest income and prepayment fees are recognized when earned. Premiums and discounts are amortized using the interest method. When amortized cost of a callable debt security exceeds the first call price, the premium is amortized to the earliest call date. Otherwise, the period of amortization or accretion generally extends from the purchase date to the maturity date. Accrued investment income consists of interest income or dividends earned on the investment portfolio, but which are yet to be received as of the balance sheet date. The Company will write-off accrued investment income that is deemed to be uncollectible related to the fixed maturities. As a practical expedient, the Company excludes the accrued investment income from the amortized cost basis of the fixed maturity and separately reports it in another financial statement line item, Accrued investment income . Additionally, the amount will be excluded from disclosures within Note 4 . Investments, Allowance For Credit Losses For Available-For-Sale Fixed Maturities : At the onset of the evaluation, the Company individually assesses each fixed maturity to determine whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria are met, the Company will write down the fixed maturity's amortized cost basis to fair value through Realized gains (losses) . If neither of the aforementioned criteria are met, the Company will evaluate whether the decline in fair value has resulted from a credit event. The Company will evaluate many factors, as further described below, to determine the present value of the expected cash flows. A credit loss occurs when the present value of the expected cash flows is less than the amortized cost basis. This will result in the recording of an allowance for credit losses as a contra asset account to the amortized cost basis with an offsetting provision for credit losses in Realized gains (losses) on the Condensed Consolidated Statement of Operations . Additionally, the CECL methodology includes a fair value floor where the allowance for credit loss for a security cannot exceed the difference between fair value and amortized cost. When it is determined that there is not a credit loss, the decline in fair value is recognized in Other comprehensive income. All changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses recorded to the allowance for credit losses are management's best estimate of the uncollectibility of principal and interest of a fixed maturity. The evaluation of Globe Life's securities for credit losses is a process that is undertaken at least quarterly and is overseen by a team of investment and accounting professionals. The process for making this determination is highly subjective and involves the careful consideration of many factors. The factors considered include, but are not limited to: • The Company’s ability and intent to hold the security until anticipated recovery • The reason(s) for the impairment • The financial condition of the issuer and the prospects for recovery in fair value of the security • Expected future cash flows The relative weight given to each of these factors can change over time as facts and circumstances change. In many cases, management believes it is appropriate to give more consideration to prospective factors than to retrospective factors. Prospective factors that are given more weight include prospects for recovery, the Company’s ability and intent to hold the security until anticipated recovery, and expected future cash flows. Among the facts and information considered in the process are: • Financial statements of the issuer • Changes in credit ratings of the issuer • The value of underlying collateral • News and information included in press releases issued by the issuer • News and information reported in the media concerning the issuer • News and information published by or otherwise provided by securities, economic, or research analysts • The nature and amount of recent and expected future sources and uses of cash • Default on a required payment • Issuer bankruptcy filings The expected cash flows are determined using judgment and the best information available to the Company. Inputs used to derive expected cash flows generally include expected default rates, current levels of subordination, and estimated recovery rate. The discount rate utilized in the discounted cash flows is the effective interest rate, which is the rate of return implicit in the asset at acquisition. Investments, Commercial Mortgage Loan Participations (Commercial Mortgage Loans) : Commercial mortgage loans, a type of investment where the commercial mortgage loan is shared among investors, are accounted for as financing receivables. The commercial mortgage loans are managed by a third party. The Company purchased the legal rights to interests in commercial mortgage loans that are secured by properties such as hotels, retail, multiple family, or offices. The commercial mortgage loans typically have a term of three years with an option to extend up to two years. The commercial mortgage loans are recorded at unpaid principal balance, net of unamortized origination fees and net of allowance for loan losses. Interest income, net of the amortization of origination fees, is recorded in Net investment income under the effective yield method. Accrued investment income on the Condensed Consolidated Balance Sheets consists of interest income earned on the commercial mortgage loan portfolio, but which is yet to be received as of the balance sheet date. Accrued investment income will be placed in nonaccrual status at the time the loan is 90 days delinquent or otherwise deemed to be uncollectible by management. Any currently accrued investment income will subsequently be written off. As a practical expedient, the Company excludes the accrued investment income from the amortized cost basis of the commercial mortgage loans and separately reports it in another financial statement line item, Accrued investment income . Additionally, the amount will be excluded from disclosures within Note 4 . As of June 30, 2020, the accrued interest receivable for commercial mortgage loans was $384 thousand. Commercial mortgage loans generally pay interest monthly, therefore accrued interest is typically for a period of 30 days or less. The unfunded commitment balance was $81 million as of June 30, 2020. The Company evaluates the performance and credit quality of the commercial mortgage loan portfolio at least on a quarterly basis, or as needed, by utilizing common metrics such as loan-to-value and debt service coverage ratios as well as evaluating the fair value of the underlying collateral. The fair value of the underlying collateral is based on a third-party appraisal of the property at origination of the loan, and is reviewed on an annual basis thereafter, or more frequently when a loan is materially underperforming, 30 days delinquent, or in technical default. The Company determines the probability of estimated losses for the commercial mortgage loan portfolio on a pool basis each quarter and records an allowance. The allowance for credit losses is based on estimates, historical experience, probability of loss, value of the underlying collateral, and macro factors that affect the collectibility of the loan. Each loan within the pool is assigned a risk rating (credit quality indicator) of low, medium, and high based on risk and expected future performance. A loan that is assigned as high risk would have a higher probability of a potential principal loss. The assigned risk category and the estimated loss rate is adjusted each quarter for current and forecasted economic factors management believes are relevant. If management determines that foreclosure of a particular property is probable, the Company may elect the practical expedient for an individual mortgage loan to estimate the expected credit losses, which are based on the fair value of the property less amortized cost, adjusted for selling and other associated costs. See Note 4 for current activity.
Other Assets	Other Receivables, Agent Debit Balances : Agent debit balances primarily represent commissions advanced to insurance agents, a common industry practice. These balances are repaid to the Company over time, generally one year, as the premiums associated with the advanced commissions are collected by the Company and a portion of the agents' commissions on such premiums are retained in order to repay the balances. The balances were $428 million at June 30, 2020 and $424 million at December 31, 2019. When an agent sells a policy, commissions are advanced to the agent, and the collection of the advance is made as long as the policy stays in force. While there is a susceptibility to loss should an agent terminate or excessive policy lapses occur, the ability of the Company to continue to collect an agent's commission streams over time from prior sales of policies reduces the Company's exposure to loss. The Company has a very low inherent risk with regards to the collection of agent debit balances and views these balances as recoverable since they are, in aggregate, less than the estimated present value of future commissions discounted at a conservative rate which includes assumptions for lapses and mortality. The Company’s security, or collateral, is in the form of future commission streams collected over the life of the policies sold by the respective agents, which ultimately revert to the Company in the event an agent is terminated. The Company evaluated the agent debit balances on a pool basis to determine the allowance for credit losses, as the loans have similar characteristics. A provision for credit losses will be recorded in Realized gains (losses) on the Condensed Consolidated Statement of Operations and the asset balance will be reflected as Agent Debit Balances, net of allowance for credit losses ( Other receivables ). Based on factors considered by management, there were no additional credit losses recorded during the three months ended June 30, 2020. As of June 30, 2020, the allowance for credit losses was $1.2 million compared with $1.0 million as of December 31, 2019.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Impact of New Accounting Pronouncements	As reported on December 31, 2019 Pre-tax impact of adoption As reported on January 1, 2020 Assets: Commercial mortgage loan participations $ 137,692 $ (335) $ 137,357 Agent debit balances 423,877 (240) 423,637 Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2016-13/2019-04/2019-05 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard ("CECL") provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are recorded at amortized cost. Additionally, it changes the loss impairment methodology for available-for-sale fixed maturities by the use of an allowance rather than a direct write down. This standard became effective on January 1, 2020. The Company's available-for-sale fixed maturities and other financing receivables (commercial mortgage loans and agent debit balances) were concluded to be the relevant financial assets within the scope of the standard. See Note 1 for information on the adoption and revised accounting policies. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This standard was issued primarily to provide optional expedients for simplifying the accounting for contract modifications to existing agreements, which is expected to arise from the market's transition from LIBOR to the secured overnight financing rate (SOFR) as a result of reference rate reform. This standard became effective upon issuance, or March 12, 2020, and will remain effective until December 31, 2022. The Company has limited assets and liabilities that utilize LIBOR as a benchmark rate. We will continue to monitor the progress towards the establishment of a new floating rate; however, we do not expect a material impact at this time. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019. ASU 2018-12 is a significant change to our current accounting and disclosure of long-duration contracts, which is our primary business. The guidance was primarily issued to: 1) improve the timeliness of recognizing changes in the liability for future policy benefits and modify the rate used to discount future cash flows, 2) simplify and improve the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, 3) simplify the amortization of deferred acquisition costs, and 4) improve the effectiveness of the required disclosures. The current effective date for this standard is January 1, 2022. On July 9, 2020, the FASB issued a proposed ASU to delay LDTI an additional year until January 1, 2023. Early adoption is available. The Company is currently in the process of evaluating the impact this standard will have on the consolidated financial statements and disclosures, specifically assessing key accounting policies, assumption and data inputs, controls, and enhanced system solutions. ASU No. 2018-14 , Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20), Changes to the Disclosure Requirements for Defined Benefit Plans The standard removes disclosures that are no longer considered cost beneficial, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant to defined benefit plans. This standard is effective beginning January 1, 2021, and will be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial statements.

New Accounting Standards (Table

New Accounting Standards (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Impact of New Accounting Pronouncements	As reported on December 31, 2019 Pre-tax impact of adoption As reported on January 1, 2020 Assets: Commercial mortgage loan participations $ 137,692 $ (335) $ 137,357 Agent debit balances 423,877 (240) 423,637 Accounting Pronouncements Adopted in the Current Year Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2016-13/2019-04/2019-05 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, with clarification guidance issued in April 2019. This standard ("CECL") provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are recorded at amortized cost. Additionally, it changes the loss impairment methodology for available-for-sale fixed maturities by the use of an allowance rather than a direct write down. This standard became effective on January 1, 2020. The Company's available-for-sale fixed maturities and other financing receivables (commercial mortgage loans and agent debit balances) were concluded to be the relevant financial assets within the scope of the standard. See Note 1 for information on the adoption and revised accounting policies. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This standard was issued primarily to provide optional expedients for simplifying the accounting for contract modifications to existing agreements, which is expected to arise from the market's transition from LIBOR to the secured overnight financing rate (SOFR) as a result of reference rate reform. This standard became effective upon issuance, or March 12, 2020, and will remain effective until December 31, 2022. The Company has limited assets and liabilities that utilize LIBOR as a benchmark rate. We will continue to monitor the progress towards the establishment of a new floating rate; however, we do not expect a material impact at this time. Accounting Pronouncements Yet to be Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2018-12/2019-09 , Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, with clarification guidance issued in November 2019. ASU 2018-12 is a significant change to our current accounting and disclosure of long-duration contracts, which is our primary business. The guidance was primarily issued to: 1) improve the timeliness of recognizing changes in the liability for future policy benefits and modify the rate used to discount future cash flows, 2) simplify and improve the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, 3) simplify the amortization of deferred acquisition costs, and 4) improve the effectiveness of the required disclosures. The current effective date for this standard is January 1, 2022. On July 9, 2020, the FASB issued a proposed ASU to delay LDTI an additional year until January 1, 2023. Early adoption is available. The Company is currently in the process of evaluating the impact this standard will have on the consolidated financial statements and disclosures, specifically assessing key accounting policies, assumption and data inputs, controls, and enhanced system solutions. ASU No. 2018-14 , Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20), Changes to the Disclosure Requirements for Defined Benefit Plans The standard removes disclosures that are no longer considered cost beneficial, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant to defined benefit plans. This standard is effective beginning January 1, 2021, and will be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial statements.

Supplemental Information Abou_2

Supplemental Information About Changes to Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Change in Balance by Component of Accumulated Other Comprehensive Income	An analysis of the change in balance by component of Accumulated Other Comprehensive Income is as follows for the three and six month periods ended June 30, 2020 and 2019: Three Months Ended June 30, 2020 Available Deferred Foreign Pension Total Balance at April 1, 2020 $ 1,222,159 $ (5,613) $ (9,621) $ (140,678) $ 1,066,247 Other comprehensive income (loss) before reclassifications, net of tax 1,151,193 301 13,387 — 1,164,881 Reclassifications, net of tax (2,520) — — 3,285 765 Other comprehensive income (loss) 1,148,673 301 13,387 3,285 1,165,646 Balance at June 30, 2020 $ 2,370,832 $ (5,312) $ 3,766 $ (137,393) $ 2,231,893 Three Months Ended June 30, 2019 Available Deferred Foreign Pension Total Balance at April 1, 2019 $ 984,701 $ (6,691) $ 8,937 $ (116,880) $ 870,067 Other comprehensive income (loss) before reclassifications, net of tax 568,073 135 (31) — 568,177 Reclassifications, net of tax (666) — — 1,672 1,006 Other comprehensive income (loss) 567,407 135 (31) 1,672 569,183 Balance at June 30, 2019 $ 1,552,108 $ (6,556) $ 8,906 $ (115,208) $ 1,439,250 Six Months Ended June 30, 2020 Available Deferred Foreign Pension Total Balance at January 1, 2020 $ 1,982,650 $ (5,916) $ 12,058 $ (143,962) $ 1,844,830 Other comprehensive income (loss) before reclassifications, net of tax 368,257 604 (8,292) — 360,569 Reclassifications, net of tax 19,925 — — 6,569 26,494 Other comprehensive income (loss) 388,182 604 (8,292) 6,569 387,063 Balance at June 30, 2020 $ 2,370,832 $ (5,312) $ 3,766 $ (137,393) $ 2,231,893 Six Months Ended June 30, 2019 Available Deferred Foreign Pension Total Balance at January 1, 2019 $ 435,698 $ (4,163) $ 6,495 $ (118,555) $ 319,475 Other comprehensive income (loss) before reclassifications, net of tax 1,119,007 (2,393) 2,411 — 1,119,025 Reclassifications, net of tax (2,597) — — 3,347 750 Other comprehensive income (loss) 1,116,410 (2,393) 2,411 3,347 1,119,775 Balance at June 30, 2019 $ 1,552,108 $ (6,556) $ 8,906 $ (115,208) $ 1,439,250
Summary of Reclassifications Out of Accumulated Other Comprehensive Income	Reclassification adjustments out of Accumulated Other Comprehensive Income are presented below for the three and six month periods ended June 30, 2020 and 2019. Three Months Ended Six Months Ended June 30, Affected line items in the Statement of Operations Component Line Item 2020 2019 2020 2019 Unrealized investment (gains) losses on available for sale assets: Realized (gains) losses $ (5,063) $ (2,237) $ 21,857 $ (5,907) Realized (gains) losses Amortization of (discount) premium 1,873 1,394 3,365 2,620 Net investment income Total before tax (3,190) (843) 25,222 (3,287) Tax 670 177 (5,297) 690 Income taxes Total after-tax (2,520) (666) 19,925 (2,597) Pension adjustments: Amortization of prior service cost 158 158 316 316 Other operating expense Amortization of actuarial (gain) loss 4,000 1,960 7,999 3,922 Other operating expense Total before tax 4,158 2,118 8,315 4,238 Tax (873) (446) (1,746) (891) Income taxes Total after-tax 3,285 1,672 6,569 3,347 Total reclassification (after-tax) $ 765 $ 1,006 $ 26,494 $ 750

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Fixed Maturities and Equity Securities Available for Sale by Component	Summaries of fixed maturities available for sale by amortized cost, fair value, and allowance for credit losses at June 30, 2020 and December 31, 2019, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows. Redeemable preferred stock is included within the corporates by sector. As noted in Note 1—Significant Accounting Policies , the Company prospectively adopted ASU 2016-13 as of January 1, 2020 for the available-for-sale fixed maturities. Results after January 1, 2020 are presented under ASU 2016-13, while prior periods continue to be reported in accordance with previously applicable GAAP. See additional discussion of the allowance for credit losses later in this note. At June 30, 2020 Allowance for Credit Losses Gross Gross Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 377,555 $ — $ 89,319 $ (58) $ 466,816 2 States, municipalities, and political subdivisions 1,617,951 — 206,554 (478) 1,824,027 9 Foreign governments 33,900 — 2,633 (17) 36,516 — Corporates, by sector: Financial 4,303,589 — 798,500 (53,564) 5,048,525 26 Utilities 1,930,929 — 518,495 (1,616) 2,447,808 13 Energy 1,663,051 (32,719) 209,597 (53,861) 1,786,068 9 Other corporate sectors 6,584,590 — 1,294,194 (21,202) 7,857,582 40 Total corporates 14,482,159 (32,719) 2,820,786 (130,243) 17,139,983 88 Collateralized debt obligations 57,031 — 21,988 (9,920) 69,099 — Other asset-backed securities 129,304 — 2,866 (7,429) 124,741 1 Total fixed maturities $ 16,697,900 $ (32,719) $ 3,144,146 $ (148,145) $ 19,661,182 100 (1) Amount reported in the balance sheet. (2) At fair value. At December 31, 2019 Amortized Gross Gross Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 396,079 $ 41,737 $ (296) $ 437,520 2 States, municipalities, and political subdivisions 1,559,736 158,546 (626) 1,717,656 9 Foreign governments 25,874 2,073 (396) 27,551 — Corporates, by sector: Financial 4,101,917 701,196 (22,307) 4,780,806 25 Utilities 1,937,738 416,114 (1,565) 2,352,287 13 Energy 1,678,969 269,640 (33,725) 1,914,884 10 Other corporate sectors 6,514,677 955,908 (16,765) 7,453,820 40 Total corporates 14,233,301 2,342,858 (74,362) 16,501,797 88 Collateralized debt obligations 56,990 24,298 (7,184) 74,104 — Other asset-backed securities 143,796 5,094 (371) 148,519 1 Total fixed maturities $ 16,415,776 $ 2,574,606 $ (83,235) $ 18,907,147 100 (1) Amount reported in the balance sheet. (2) At fair value.
Schedule of Fixed Maturities by Contractual Maturity	A schedule of fixed maturities available for sale by contractual maturity date at June 30, 2020 is shown below on an amortized cost, net of allowance for credit losses basis and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. At June 30, 2020 Amortized Fair Fixed maturities available for sale: Due in one year or less $ 62,732 $ 63,550 Due after one year through five years 745,715 816,256 Due after five years through ten years 1,783,317 2,065,078 Due after ten years through twenty years 5,788,845 7,141,059 Due after twenty years 8,097,882 9,381,016 Mortgage-backed and asset-backed securities 186,690 194,223 $ 16,665,181 $ 19,661,182
Schedule of Analysis of Investment Operations	Net investment income for the three and six month periods ended June 30, 2020 and 2019 is summarized as follows: Three Months Ended Six Months Ended 2020 2019 % Change 2020 2019 % Change Fixed maturities available for sale $ 217,556 $ 215,867 1 $ 434,683 $ 431,630 1 Policy loans 11,213 10,821 4 22,331 21,457 4 Other long-term investments (1) 7,146 3,991 79 11,769 7,379 59 Short-term investments 134 763 (82) 441 1,582 (72) 236,049 231,442 2 469,224 462,048 2 Less investment expense (4,481) (4,017) 12 (8,665) (7,950) 9 Net investment income $ 231,568 $ 227,425 2 $ 460,559 $ 454,098 1
Schedule of Selected Information about Sales of Fixed Maturities Available for Sale	Selected information about sales of fixed maturities available for sale is as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Fixed maturities available for sale: Proceeds from sales (1) $ 1,660 $ — $ 52,020 $ 34,997 Gross realized gains — — 2,642 46 Gross realized losses (371) — (371) (3,027)
Realized Gains (Losses) on Investments	An analysis of realized gains (losses) is as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Realized investment gains (losses): Fixed maturities available for sale: Sales and other (1) $ 5,928 $ 2,237 $ 10,862 $ 5,907 Provision for credit losses (865) — (32,719) — Fair value option—change in fair value (19,434) 2,869 (18,851) 684 Other investments 9,581 48 9,821 (108) Realized gains (losses) from investments (4,790) 5,154 (30,887) 6,483 Applicable tax 1,006 (1,082) 6,486 (1,361) Realized gains (losses), net of tax $ (3,784) $ 4,072 $ (24,401) $ 5,122 (1) During the three months ended June 30, 2020 and 2019, the Company recorded $80.4 million and $48.3 million of exchanges of fixed maturities (noncash transactions) that resulted in $7.9 million and $2.5 million, respectively in realized gains (losses). During the six months ended June 30, 2020 and 2019, the Company recorded $86.3 million and $117.2 million of exchanges of fixed maturities (noncash transactions) that resulted in $7.9 million and $8.3 million, respectively in realized gains (losses).
Unrealized Gain (Loss) on Investments	The following tables represent the fair value of fixed maturities measured on a recurring basis at June 30, 2020 and December 31, 2019: Fair Value Measurement at June 30, 2020 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 466,816 $ — $ 466,816 States, municipalities, and political subdivisions — 1,824,027 — 1,824,027 Foreign governments — 36,516 — 36,516 Corporates, by sector: Financial — 4,900,057 148,468 5,048,525 Utilities — 2,286,065 161,743 2,447,808 Energy — 1,748,616 37,452 1,786,068 Other corporate sectors — 7,546,329 311,253 7,857,582 Total corporates — 16,481,067 658,916 17,139,983 Collateralized debt obligations — — 69,099 69,099 Other asset-backed securities — 111,861 12,880 124,741 Total fixed maturities $ — $ 18,920,287 $ 740,895 $ 19,661,182 Percentage of total — % 96 % 4 % 100 % Fair Value Measurement at December 31, 2019 Using: Quoted Prices in Significant Other Significant Total Fair Fixed maturities available for sale U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 437,520 $ — $ 437,520 States, municipalities, and political subdivisions — 1,717,656 — 1,717,656 Foreign governments — 27,551 — 27,551 Corporates, by sector: Financial — 4,628,875 151,931 4,780,806 Utilities — 2,195,539 156,748 2,352,287 Energy — 1,873,482 41,402 1,914,884 Other corporate sectors — 7,131,773 322,047 7,453,820 Total corporates — 15,829,669 672,128 16,501,797 Collateralized debt obligations — — 74,104 74,104 Other asset-backed securities — 135,342 13,177 148,519 Total fixed maturities $ — $ 18,147,738 $ 759,409 $ 18,907,147 Percentage of total — % 96 % 4 % 100 %
Schedule of Changes in Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs, and Unrealized Gains (Losses) Included in Other Comprehensive Income	The following tables represent changes in fixed maturities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Asset- backed Securities Collateralized Corporates Total Balance at January 1, 2020 $ 13,177 $ 74,104 $ 672,128 $ 759,409 Included in realized gains / losses — — 1,213 1,213 Included in other comprehensive income (250) (5,046) 11,765 6,469 Acquisitions — — — — Sales — — — — Amortization — 2,275 4 2,279 Other (1) (47) (2,234) (26,194) (28,475) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at June 30, 2020 $ 12,880 $ 69,099 $ 658,916 $ 740,895 Percent of total fixed maturities — % 1 % 3 % 4 % (1) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (2) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available. Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Asset- backed Securities Collateralized Corporates Total Balance at January 1, 2019 $ 12,982 $ 73,369 $ 553,471 $ 639,822 Included in realized gains / losses — — — — Included in other comprehensive income 441 6,306 23,620 30,367 Acquisitions — — — — Sales — — — — Amortization — 2,315 7 2,322 Other (1) (220) (2,912) (6,927) (10,059) Transfers into Level 3 (2) — — — — Transfers out of Level 3 (2) — — — — Balance at June 30, 2019 $ 13,203 $ 79,078 $ 570,171 $ 662,452 Percent of total fixed maturities — % 1 % 3 % 4 % (1) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (2) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available. The following table presents changes in unrealized gains or (losses) for the period included in other comprehensive income for assets held at the end of the reporting period for Level 3s: Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period Asset- Collateralized Corporates Total At June 30, 2020 $ (250) $ (5,046) $ 11,765 $ 6,469 At June 30, 2019 441 6,306 23,620 30,367
Schedule of Additional Information about Investments in Unrealized Loss Position	The following table discloses information about fixed maturities available for sale in an unrealized loss position. Less than Twelve Months Twelve Months or Longer Total Number of issues (CUSIPs) held: As of June 30, 2020 102 35 137 As of December 31, 2019 82 51 133
Schedule of Unrealized Investment Losses by Class of Investment	The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale for which an allowance for credit losses has not been recorded at June 30, 2020. Analysis of Gross Unrealized Investment Losses At June 30, 2020 Less than Twelve Months Twelve Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ — $ 1,968 $ (58) $ 1,968 $ (58) States, municipalities and political subdivisions 21,170 (478) — — 21,170 (478) Foreign governments 4,690 (17) — — 4,690 (17) Corporates, by sector: Financial 205,161 (10,765) 5,594 (2,906) 210,755 (13,671) Utilities — — — — — — Energy 299,831 (23,252) 1,736 (212) 301,567 (23,464) Other corporate sectors 106,389 (7,081) 17,844 (155) 124,233 (7,236) Total corporates 611,381 (41,098) 25,174 (3,273) 636,555 (44,371) Other asset-backed securities 47,730 (5,642) 8 — 47,738 (5,642) Total investment grade securities 684,971 (47,235) 27,150 (3,331) 712,121 (50,566) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial 33,256 (6,676) 99,492 (33,217) 132,748 (39,893) Utilities 11,387 (246) 14,307 (1,370) 25,694 (1,616) Energy 62,252 (8,099) 55,653 (22,298) 117,905 (30,397) Other corporate sectors 33,629 (2,741) 68,808 (11,225) 102,437 (13,966) Total corporates 140,524 (17,762) 238,260 (68,110) 378,784 (85,872) Collateralized debt obligations — — 10,080 (9,920) 10,080 (9,920) Other asset-backed securities — — 12,314 (1,787) 12,314 (1,787) Total below investment grade securities 140,524 (17,762) 260,654 (79,817) 401,178 (97,579) Total fixed maturities $ 825,495 $ (64,997) $ 287,804 $ (83,148) $ 1,113,299 $ (148,145) Gross unrealized losses may fluctuate quarter over quarter due to adverse factors in the market that affect our holdings, such as changes in interest rates or credit spreads. As noted in Note 1 , the Company considers many factors when determining whether a credit loss exists. While the Company holds securities that may be in an unrealized loss position from time to time, Globe Life does not intend to sell and it is likely that management will not be required to sell the fixed maturities prior to their anticipated recovery due to the strong cash flows generated by its insurance operations. The following table discloses unrealized investment losses by class and major sector of fixed maturities available for sale at December 31, 2019. Globe Life considered these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At December 31, 2019 Less than Twelve Months Twelve Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 1,255 $ (2) $ 21,044 $ (294) $ 22,299 $ (296) States, municipalities and political subdivisions 66,774 (626) — — 66,774 (626) Foreign governments 6,496 (396) — — 6,496 (396) Corporates, by sector: Financial 117,389 (1,733) 7,183 (1,317) 124,572 (3,050) Utilities 8,400 (166) — — 8,400 (166) Energy 52,312 (1,058) 1,833 (115) 54,145 (1,173) Other corporate sectors 136,386 (1,584) 61,473 (3,260) 197,859 (4,844) Total corporates 314,487 (4,541) 70,489 (4,692) 384,976 (9,233) Other asset-backed securities — — — — — — Total investment grade securities 389,012 (5,565) 91,533 (4,986) 480,545 (10,551) Below investment grade securities: States, municipalities and political subdivisions — — — — — — Corporates, by sector: Financial — — 113,481 (19,257) 113,481 (19,257) Utilities 7,529 (135) 14,985 (1,264) 22,514 (1,399) Energy 14,968 (146) 69,956 (32,406) 84,924 (32,552) Other corporate sectors — — 67,655 (11,921) 67,655 (11,921) Total corporates 22,497 (281) 266,077 (64,848) 288,574 (65,129) Collateralized debt obligations — — 12,816 (7,184) 12,816 (7,184) Other asset-backed securities — — 13,879 (371) 13,879 (371) Total below investment grade securities 22,497 (281) 292,772 (72,403) 315,269 (72,684) Total fixed maturities $ 411,509 $ (5,846) $ 384,305 $ (77,389) $ 795,814 $ (83,235)
Fixed Maturities, Allowance for Credit Loss	Three Months Ended Six Months Ended 2020 2019 2020 2019 Allowance for credit losses beginning balance $ 31,854 $ — $ — $ — Additions to allowance for which credit losses were not previously recorded — — 31,854 — Additions (reductions) to allowance for fixed maturities that previously had an allowance 865 — 865 — Reduction of allowance for which the Company intends to sell or more likely than not will be required to sell — — — — Allowance for credit losses ending balance $ 32,719 $ — $ 32,719 $ —
Other Long-Term Investments	Other long-term investments consist of the following assets: June 30, December 31, Investment funds $ 264,246 $ 185,851 Commercial mortgage loan participations 164,420 137,692 Other 3,659 2,804 Total $ 432,325 $ 326,347
Summary of Commercial Mortgage Loan Participations	Summaries of commercial mortgage loans by property type and geographical location at June 30, 2020 and December 31, 2019 are as follows: June 30, 2020 December 31, 2019 Carrying Value % of Total Carrying Value % of Total Property type: Office $ 42,997 26 $ 42,350 31 Mixed use 44,892 27 27,501 20 Hospitality 22,736 14 22,324 16 Industrial 22,439 14 17,612 13 Retail 18,899 11 17,318 12 Multi-family 16,295 10 10,587 8 Total recorded investment 168,258 102 137,692 100 Less allowance for credit losses (3,838) (2) — — Carrying value, net of allowance for credit losses $ 164,420 100 $ 137,692 100 June 30, 2020 December 31, 2019 Carrying Value % of Total Carrying Value % of Total Geographic location: South Atlantic $ 52,003 32 $ 50,867 37 Pacific 59,042 36 36,546 27 Middle Atlantic 30,514 18 25,328 18 East North Central 10,589 6 10,568 8 West South Central 8,388 5 8,072 6 East South Central 4,692 3 4,676 3 West North Central 1,389 1 — — New England 1,641 1 1,635 1 Total recorded investment 168,258 102 137,692 100 Less allowance for credit losses (3,838) (2) — — Carrying value, net of allowance for credit losses $ 164,420 100 $ 137,692 100
Commercial Loan Participations, Allowance for Credit Loss	Three Months Ended Six Months Ended 2020 2019 2020 2019 Allowance for credit losses beginning balance $ 335 $ — $ — $ — Cumulative effect of adoption ASU 2016-13 — — 335 — Provision for credit losses 3,503 — 3,503 — Securities charge-off — — — — Recoveries — — — — Allowance for credit losses ending balance $ 3,838 $ — $ 3,838 $ —
Commercial Loan Participations, Past Due	The following table presents the aging of the amortized cost basis of delinquent commercial mortgage loans. Loans are considered delinquent after 30 days. As of June 30, 2020 30-59 Days Delinquent 60-89 days Delinquent Greater than 90 Days Delinquent Total Delinquent Commercial mortgage loans $ — $ 4,600 $ — $ 4,600 Number of delinquent commercial mortgage loans. — 1 — 1
Commercial Loan Participations, Credit Quality Indicators	June 30, 2020 Recorded Investment Debt Service Coverage Ratios (1) <1.00x 1.00x—1.20x >1.20x Total % of Total Loan-to-value ratio (2) : Less than 70% $ 19,747 $ 106,408 $ — $ 126,155 77 70% to 80% 1,365 33,379 — 34,744 21 81% to 90% — — — — — Greater than 90% 3,521 — — 3,521 2 Total $ 24,633 $ 139,787 $ — $ 164,420 100 December 31, 2019 Recorded Investment Debt Service Coverage Ratios (1) <1.00x 1.00x—1.20x >1.20x Total % of Total Loan-to-value ratio (2) : Less than 70% $ 64,160 $ 47,634 $ 12,666 $ 124,460 90 70% to 80% 11,445 1,787 — 13,232 10 81% to 90% — — — — — Greater than 90% — — — — — Total $ 75,605 $ 49,421 $ 12,666 $ 137,692 100 (1) Annual net operating income divided by annual mortgage debt service (principal and interest). (2) Loan balance divided by the fair value of the property. LTVs are generally assessed on an annual basis, or more frequently when a loan is materially underperforming, greater than 30 days delinquent, or in technical default.

Liability for Unpaid Claims (Ta

Liability for Unpaid Claims (Tables)	6 Months Ended
	Jun. 30, 2020
Insurance [Abstract]
Summary of Liability for Unpaid Health Claims	Activity in the liability for unpaid health claims is summarized as follows: Six Months Ended 2020 2019 Balance at beginning of period $ 163,808 $ 154,528 Incurred related to: Current year 301,767 302,129 Prior year (4,139) 77 Total incurred 297,628 302,206 Paid related to: Current year 251,768 190,599 Prior year 40,503 110,587 Total paid 292,271 301,186 Balance at end of period $ 169,165 $ 155,548
Reconciliation of Policy Claims and Other Benefits Payable	Below is the reconciliation of the liability of "Policy claims and other benefits payable " in the Condensed Consolidated Balance Sheets . June 30, December 31, Policy claims and other benefits payable: Life insurance $ 211,013 $ 201,594 Health insurance 169,165 163,808 Total $ 380,178 $ 365,402

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Pension Assets by Component at Fair Value	Pension Assets by Component at June 30, 2020 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ — $ 52,297 $ — $ 52,297 11 Utilities — 43,921 — 43,921 9 Energy — 20,497 — 20,497 4 Other corporates — 92,000 — 92,000 20 Total corporate bonds — 208,715 — 208,715 44 Exchange traded fund (1) 199,512 — — 199,512 42 Other bonds — 266 — 266 — Guaranteed annuity contract (2) — 28,551 — 28,551 6 Short-term investments 19,992 — — 19,992 4 Other 6,376 — — 6,376 1 $ 225,880 $ 237,532 $ — 463,412 97 Other long-term investments (3) 14,768 3 Total pension assets $ 478,180 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Non-Exempt Employees Defined Benefit Pension Plan ("American Income Pension Plan"). (3) Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns less than 1% of the investment fund. As of June 30, 2020, the expected term of the investment fund is approximately 4 years and the commitment of the investment is fully funded. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures. Pension Assets by Component at December 31, 2019 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ — $ 51,111 $ — $ 51,111 11 Utilities — 42,758 — 42,758 9 Energy — 21,907 — 21,907 5 Other corporates — 89,725 — 89,725 19 Total corporate bonds — 205,501 — 205,501 44 Exchange traded fund (1) 207,176 — — 207,176 44 Other bonds — 251 — 251 — Guaranteed annuity contract (2) — 28,278 — 28,278 6 Short-term investments 8,414 — — 8,414 2 Other 6,876 — — 6,876 1 $ 222,466 $ 234,030 $ — 456,496 97 Other long-term investments (3) 12,267 3 Total pension assets $ 468,763 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. (3) Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns approximately 1% of the investment fund. As of December 31, 2019, the expected term of the investment fund is approximately 5 years and the unfunded commitment of the investment fund is $4.1 million. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures.
Information Regarding the SERP	The following table includes information regarding the SERP. Six Months Ended 2020 2019 Premiums paid for insurance coverage $ 443 $ 444 June 30, December 31, Total investments: Company owned life insurance $ 48,855 $ 47,733 Exchange traded funds 66,254 65,585 $ 115,109 $ 113,318
Pension Liability	The following table presents liabilities for the defined benefit pension plans and SERP at June 30, 2020 and December 31, 2019. June 30, December 31, Defined benefit pension $ 577,841 $ 578,860 SERP 86,742 86,347 Pension benefit obligation $ 664,583 $ 665,207
Net Periodic Benefit Cost	The following table presents the net periodic benefit costs for the defined benefit pension plans and SERP by expense components for the three and six months ended June 30, 2020 and 2019. Components of Net Periodic Benefit Cost Three Months Ended Six Months Ended 2020 2019 2020 2019 Service cost $ 6,115 $ 4,983 $ 12,231 $ 9,965 Interest cost 5,647 5,964 11,298 11,928 Expected return on assets (7,391) (6,966) (14,781) (13,932) Amortization: Prior service cost 158 158 316 316 Actuarial (gain) loss 3,925 1,896 7,849 3,790 Net periodic benefit cost $ 8,454 $ 6,035 $ 16,913 $ 12,067

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Weighted-Average Shares Outstanding	A reconciliation of basic and diluted weighted-average shares outstanding used in the computation of basic and diluted earnings per share is as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Basic weighted average shares outstanding 106,441,311 109,649,714 106,863,267 109,973,820 Weighted average dilutive options outstanding 692,706 1,935,962 1,195,173 1,975,492 Diluted weighted average shares outstanding 107,134,017 111,585,676 108,058,440 111,949,312 Antidilutive shares 5,417,077 1,359,686 2,281,300 1,359,686

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Premium Income by Distribution Channel	Premium Income by Distribution Channel Three Months Ended June 30, 2020 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 308,675 46 $ 25,554 9 $ — — $ 334,229 35 Direct to Consumer 235,201 35 19,060 7 — — 254,261 27 Liberty National 73,326 11 47,391 17 — — 120,717 13 United American 2,481 — 112,885 40 3 100 115,369 12 Family Heritage 1,042 — 77,987 27 — — 79,029 8 Other 50,097 8 — — — — 50,097 5 $ 670,822 100 $ 282,877 100 $ 3 100 $ 953,702 100 Three Months Ended June 30, 2019 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 288,334 46 $ 24,450 9 $ — — $ 312,784 35 Direct to Consumer 217,278 35 19,249 7 — — 236,527 26 Liberty National 71,478 11 47,292 18 — — 118,770 13 United American 2,647 — 102,254 38 1 100 104,902 12 Family Heritage 927 — 73,037 28 — — 73,964 8 Other 50,537 8 — — — — 50,537 6 $ 631,201 100 $ 266,282 100 $ 1 100 $ 897,484 100 Premium Income by Distribution Channel Six Months Ended June 30, 2020 Life Health Annuity Total Distribution Channel Amount % of Amount % of Amount % of Amount % of American Income $ 611,527 46 $ 51,281 9 $ — — $ 662,808 35 Direct to Consumer 455,244 35 38,856 7 — — 494,100 26 Liberty National 146,194 11 95,031 17 — — 241,225 13 United American 4,971 — 222,944 40 3 100 227,918 12 Family Heritage 2,063 — 154,970 27 — — 157,033 9 Other 100,453 8 — — — — 100,453 5 $ 1,320,452 100 $ 563,082 100 $ 3 100 $ 1,883,537 100 Six Months Ended June 30, 2019 Life Health Annuity Total Distribution Channel Amount % of Total Amount % of Total Amount % of Total Amount % of Total American Income $ 570,101 45 $ 48,549 9 $ — — $ 618,650 35 Direct to Consumer 434,837 35 39,509 7 — — 474,346 26 Liberty National 142,195 11 95,448 18 — — 237,643 13 United American 5,398 1 205,159 39 1 100 210,558 12 Family Heritage 1,858 — 144,301 27 — — 146,159 8 Other 101,101 8 — — — — 101,101 6 $ 1,255,490 100 $ 532,966 100 $ 1 100 $ 1,788,457 100
Reconciliation of Segment Operating Information to Consolidated Statement of Operations	Three Months Ended June 30, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 670,822 $ 282,877 $ 3 $ — $ — $ — $ 953,702 Net investment income — — — 231,568 — — 231,568 Other income — — — — 404 — 404 Total revenue 670,822 282,877 3 231,568 404 — 1,185,674 Expenses: Policy benefits 459,845 183,496 7,475 — — — 650,816 Required interest on reserves (173,208) (22,851) (10,332) 206,391 — — — Required interest on DAC 52,107 6,582 84 (58,773) — — — Amortization of acquisition costs 117,802 27,854 504 — — — 146,160 Commissions, premium taxes, and non-deferred acquisition costs 52,577 23,556 7 — — — 76,140 Insurance administrative expense (1) — — — — 61,566 61,566 Parent expense — — — — 2,516 — 2,516 Stock-based compensation expense — — — — 8,632 — 8,632 Interest expense — — — 22,813 — — 22,813 Total expenses 509,123 218,637 (2,262) 170,431 72,714 — 968,643 Subtotal 161,699 64,240 2,265 61,137 (72,310) — 217,031 Non-operating items — — — — — — Measure of segment profitability (pretax) $ 161,699 $ 64,240 $ 2,265 $ 61,137 $ (72,310) $ — 217,031 Realized gain (loss)—investments (4,790) Income before income taxes per Condensed Consolidated Statements of Operations $ 212,241 (1) Administrative expense is not allocated to insurance segments. Three Months Ended June 30, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 631,201 $ 266,282 $ 1 $ — $ — $ — $ 897,484 Net investment income — — — 227,425 — — 227,425 Other income — — — — 398 — 398 Total revenue 631,201 266,282 1 227,425 398 — 1,125,307 Expenses: Policy benefits 410,961 170,511 7,890 — — — 589,362 Required interest on reserves (165,513) (21,680) (10,888) 198,081 — — — Required interest on DAC 50,298 6,341 127 (56,766) — — — Amortization of acquisition costs 110,319 27,343 503 — — — 138,165 Commissions, premium taxes, and non-deferred acquisition costs 50,086 23,608 4 — — — 73,698 Insurance administrative expense (1) — — — — 59,416 5,500 (2) 64,916 Parent expense — — — — 2,872 — 2,872 Stock-based compensation expense — — — — 11,256 — 11,256 Interest expense — — — 21,432 — — 21,432 Total expenses 456,151 206,123 (2,364) 162,747 73,544 5,500 901,701 Subtotal 175,050 60,159 2,365 64,678 (73,146) (5,500) 223,606 Non-operating items — — — — — 5,500 (2) 5,500 Measure of segment profitability (pretax) $ 175,050 $ 60,159 $ 2,365 $ 64,678 $ (73,146) $ — 229,106 Realized gain (loss)—investments 5,154 Legal proceedings (5,500) Income before income taxes per Condensed Consolidated Statements of Operations $ 228,760 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings. Six Months Ended June 30, 2020 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,320,452 $ 563,082 $ 3 $ — $ — $ — $ 1,883,537 Net investment income — — — 460,559 — — 460,559 Other income — — — — 729 — 729 Total revenue 1,320,452 563,082 3 460,559 729 — 2,344,825 Expenses: Policy benefits 881,515 362,207 15,063 — — — 1,258,785 Required interest on reserves (344,413) (45,361) (20,788) 410,562 — — — Required interest on DAC 104,225 13,101 172 (117,498) — — — Amortization of acquisition costs 232,110 56,879 1,008 — — — 289,997 Commissions, premium taxes, and non-deferred acquisition costs 106,513 48,551 13 — — — 155,077 Insurance administrative expense (1) — — — — 125,186 3,275 (2) 128,461 Parent expense — — — — 4,847 — 4,847 Stock-based compensation expense — — — — 17,988 — 17,988 Interest expense — — — 43,621 — — 43,621 Total expenses 979,950 435,377 (4,532) 336,685 148,021 3,275 1,898,776 Subtotal 340,502 127,705 4,535 123,874 (147,292) (3,275) 446,049 Non-operating items — — — — — 3,275 (2) 3,275 Measure of segment profitability (pretax) $ 340,502 $ 127,705 $ 4,535 $ 123,874 $ (147,292) $ — 449,324 Realized gain (loss)—investments (30,887) Legal proceedings (3,275) Income before income taxes per Condensed Consolidated Statements of Operations $ 415,162 (1) Administrative expense is not allocated to insurance segments. (2) Legal proceedings. Six Months Ended June 30, 2019 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,255,490 $ 532,966 $ 1 $ — $ — $ — $ 1,788,457 Net investment income — — — 454,098 — — 454,098 Other income — — — — 639 — 639 Total revenue 1,255,490 532,966 1 454,098 639 — 2,243,194 Expenses: Policy benefits 820,653 340,528 15,938 — — — 1,177,119 Required interest on reserves (329,175) (43,176) (22,008) 394,359 — — — Required interest on DAC 100,322 12,624 258 (113,204) — — — Amortization of acquisition costs 218,609 54,357 1,021 — — — 273,987 Commissions, premium taxes, and non-deferred acquisition costs 100,192 46,960 11 — — — 147,163 Insurance administrative expense (1) — — — — 118,607 5,900 (2,3) 124,507 Parent expense — — — — 5,515 — 5,515 Stock-based compensation expense — — — — 21,815 — 21,815 Interest expense — — — 42,710 — — 42,710 Total expenses 910,601 411,293 (4,780) 323,865 145,937 5,900 1,792,816 Subtotal 344,889 121,673 4,781 130,233 (145,298) (5,900) 450,378 Non-operating items — — — — — 5,900 (2,3) 5,900 Measure of segment profitability (pretax) $ 344,889 $ 121,673 $ 4,781 $ 130,233 $ (145,298) $ — 456,278 Realized gain (loss)—investments 6,483 Administrative settlements (400) Legal proceedings (5,500) Income before income taxes per Condensed Consolidated Statements of Operations $ 456,861 (1) Administrative expense is not allocated to insurance segments. (2) In 2019, the Company recorded $400 thousand in administrative settlements related to state regulatory examinations. (3) Legal proceedings.

Significant Accounting Polici_4

Significant Accounting Policies (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)numberOfSegments	Mar. 31, 2020USD ($)	Jan. 01, 2020USD ($)	Dec. 31, 2019USD ($)		Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Number of reportable segments | numberOfSegments			4
Assets:
Other long-term investments	$ 432,325		$ 432,325			$ 326,347
Agent debit balances	428,000		428,000			423,877
Agent debit balances, allowance for credit losses	$ 1,200		$ 1,200			1,000
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201613Member
Shareholders' equity	$ 7,848,369	$ 6,700,398	$ 7,848,369	$ 6,520,282		7,294,307		$ 6,043,426	$ 5,415,177
Commercial mortgage participations
Assets:
Other long-term investments	164,420		$ 164,420			137,692
Loan receivable, typical term			3 years
Loan receivable, extension term			2 years
Carrying value, net of valuation allowance	164,420		$ 164,420			137,692
Cumulative Effect, Period Of Adoption, Adjustment
Assets:
Agent debit balances					$ (240)
Shareholders' equity						(454)	[1]	105	(497)	[2]
Cumulative Effect, Period Of Adoption, Adjustment | Commercial mortgage participations
Assets:
Other long-term investments					(335)
Cumulative Effect, Period Of Adoption, Adjusted Balance
Assets:
Agent debit balances					423,637
Shareholders' equity						7,293,853			5,414,680
Cumulative Effect, Period Of Adoption, Adjusted Balance | Commercial mortgage participations
Assets:
Other long-term investments					$ 137,357
Retained Earnings
Assets:
Shareholders' equity	$ 5,838,930	$ 5,514,517	$ 5,838,930	$ 5,686,431		5,551,329		5,364,820	5,213,468
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjustment
Assets:
Shareholders' equity						(454)	[1]	$ 105	(497)	[2]
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjustment | Accounting Standards Update 2016-13, Adjustment For Commercial Loan Participations [Member]
Assets:
Shareholders' equity						(265)
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjustment | Accounting Standards Update 2016-13, Adjustment For Agent Debit Balances [Member]
Assets:
Shareholders' equity						$ (189)
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjusted Balance
Assets:
Shareholders' equity									$ 5,212,971
[1]	Adoption of Accounting Standard Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, on January 1, 2020. See more information in Note 2—New Accounting Standards .
[2]	Adoption of ASU 2016-02, Leases (Topic 842) , on January 1, 2019.

Supplemental Information abou_3

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Schedule of Change in Balance by Component (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	$ 6,520,282	$ 6,043,426	$ 7,294,307	$ 5,415,177
Other comprehensive income (loss) before reclassifications, net of tax	1,164,881	568,177	360,569	1,119,025
Reclassifications, net of tax	765	1,006	26,494	750
Other comprehensive income (loss)	1,165,646	569,183	387,063	1,119,775
Ending balance	7,848,369	6,700,398	7,848,369	6,700,398
Total
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	1,066,247	870,067	1,844,830	319,475
Ending balance	2,231,893	1,439,250	2,231,893	1,439,250
Available for Sale Assets
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	1,222,159	984,701	1,982,650	435,698
Other comprehensive income (loss) before reclassifications, net of tax	1,151,193	568,073	368,257	1,119,007
Reclassifications, net of tax	(2,520)	(666)	19,925	(2,597)
Other comprehensive income (loss)	1,148,673	567,407	388,182	1,116,410
Ending balance	2,370,832	1,552,108	2,370,832	1,552,108
Deferred Acquisition Costs
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	(5,613)	(6,691)	(5,916)	(4,163)
Other comprehensive income (loss) before reclassifications, net of tax	301	135	604	(2,393)
Reclassifications, net of tax	0	0	0	0
Other comprehensive income (loss)	301	135	604	(2,393)
Ending balance	(5,312)	(6,556)	(5,312)	(6,556)
Foreign Exchange
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	(9,621)	8,937	12,058	6,495
Other comprehensive income (loss) before reclassifications, net of tax	13,387	(31)	(8,292)	2,411
Reclassifications, net of tax	0	0	0	0
Other comprehensive income (loss)	13,387	(31)	(8,292)	2,411
Ending balance	3,766	8,906	3,766	8,906
Pension Adjustments
Increase (Decrease) in AOCI, Net of Tax
Beginning balance	(140,678)	(116,880)	(143,962)	(118,555)
Other comprehensive income (loss) before reclassifications, net of tax	0	0	0	0
Reclassifications, net of tax	3,285	1,672	6,569	3,347
Other comprehensive income (loss)	3,285	1,672	6,569	3,347
Ending balance	$ (137,393)	$ (115,208)	$ (137,393)	$ (115,208)

Supplemental Information abou_4

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Summary of Reclassifications (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Unrealized investment (gains) losses on available for sale assets:
Realized (gains) losses	$ 4,790	$ (5,154)	$ 30,887	$ (6,483)
Net investment income	(231,568)	(227,425)	(460,559)	(454,098)
Other operating expense	72,714	79,044	151,296	151,837
Total before tax	(212,241)	(228,760)	(415,162)	(456,861)
Tax	39,193	42,151	76,574	84,858
Total after-tax	(173,048)	(186,566)	(338,588)	(371,911)
Reclassification out of Accumulated Other Comprehensive Income
Unrealized investment (gains) losses on available for sale assets:
Total after-tax	765	1,006	26,494	750
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Available for Sale Assets
Unrealized investment (gains) losses on available for sale assets:
Realized (gains) losses	(5,063)	(2,237)	21,857	(5,907)
Net investment income	1,873	1,394	3,365	2,620
Total before tax	(3,190)	(843)	25,222	(3,287)
Tax	670	177	(5,297)	690
Total after-tax	(2,520)	(666)	19,925	(2,597)
Reclassification out of Accumulated Other Comprehensive Income | Pension Adjustments
Unrealized investment (gains) losses on available for sale assets:
Total before tax	4,158	2,118	8,315	4,238
Tax	(873)	(446)	(1,746)	(891)
Total after-tax	3,285	1,672	6,569	3,347
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service cost
Unrealized investment (gains) losses on available for sale assets:
Other operating expense	158	158	316	316
Reclassification out of Accumulated Other Comprehensive Income | Amortization of actuarial (gain) loss
Unrealized investment (gains) losses on available for sale assets:
Other operating expense	$ 4,000	$ 1,960	$ 7,999	$ 3,922

Investments - Summary of Fixed

Investments - Summary of Fixed Maturities Available for Sale by Component (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 16,697,900		$ 16,415,776
Allowance for Credit Losses	(32,719)		0
Fair Value	19,661,182		18,907,147
Corporates
Debt Securities, Available-for-sale [Line Items]
Allowance for Credit Losses	(32,719)	$ (31,854)	0	$ 0	$ 0	$ 0
Fixed maturities available for sale
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,697,900		16,415,776
Allowance for Credit Losses	(32,719)
Gross Unrealized Gains	3,144,146		2,574,606
Gross Unrealized Losses	(148,145)		(83,235)
Fair Value	$ 19,661,182		$ 18,907,147
Percentage of Fixed Maturities at Fair Value	100.00%		100.00%
Fixed maturities available for sale | U.S. Government direct, guaranteed, and government-sponsored enterprises
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 377,555		$ 396,079
Allowance for Credit Losses	0
Gross Unrealized Gains	89,319		41,737
Gross Unrealized Losses	(58)		(296)
Fair Value	$ 466,816		$ 437,520
Percentage of Fixed Maturities at Fair Value	2.00%		2.00%
Fixed maturities available for sale | States, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,617,951		$ 1,559,736
Allowance for Credit Losses	0
Gross Unrealized Gains	206,554		158,546
Gross Unrealized Losses	(478)		(626)
Fair Value	$ 1,824,027		$ 1,717,656
Percentage of Fixed Maturities at Fair Value	9.00%		9.00%
Fixed maturities available for sale | Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 33,900		$ 25,874
Allowance for Credit Losses	0
Gross Unrealized Gains	2,633		2,073
Gross Unrealized Losses	(17)		(396)
Fair Value	$ 36,516		$ 27,551
Percentage of Fixed Maturities at Fair Value	0.00%		0.00%
Fixed maturities available for sale | Corporates
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 14,482,159		$ 14,233,301
Allowance for Credit Losses	(32,719)
Gross Unrealized Gains	2,820,786		2,342,858
Gross Unrealized Losses	(130,243)		(74,362)
Fair Value	$ 17,139,983		$ 16,501,797
Percentage of Fixed Maturities at Fair Value	88.00%		88.00%
Fixed maturities available for sale | Corporates | Financial
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 4,303,589		$ 4,101,917
Allowance for Credit Losses	0
Gross Unrealized Gains	798,500		701,196
Gross Unrealized Losses	(53,564)		(22,307)
Fair Value	$ 5,048,525		$ 4,780,806
Percentage of Fixed Maturities at Fair Value	26.00%		25.00%
Fixed maturities available for sale | Corporates | Utilities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,930,929		$ 1,937,738
Allowance for Credit Losses	0
Gross Unrealized Gains	518,495		416,114
Gross Unrealized Losses	(1,616)		(1,565)
Fair Value	$ 2,447,808		$ 2,352,287
Percentage of Fixed Maturities at Fair Value	13.00%		13.00%
Fixed maturities available for sale | Corporates | Energy
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,663,051		$ 1,678,969
Allowance for Credit Losses	(32,719)
Gross Unrealized Gains	209,597		269,640
Gross Unrealized Losses	(53,861)		(33,725)
Fair Value	$ 1,786,068		$ 1,914,884
Percentage of Fixed Maturities at Fair Value	9.00%		10.00%
Fixed maturities available for sale | Corporates | Other corporate sectors
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 6,584,590		$ 6,514,677
Allowance for Credit Losses	0
Gross Unrealized Gains	1,294,194		955,908
Gross Unrealized Losses	(21,202)		(16,765)
Fair Value	$ 7,857,582		$ 7,453,820
Percentage of Fixed Maturities at Fair Value	40.00%		40.00%
Fixed maturities available for sale | Collateralized debt obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 57,031		$ 56,990
Allowance for Credit Losses	0
Gross Unrealized Gains	21,988		24,298
Gross Unrealized Losses	(9,920)		(7,184)
Fair Value	$ 69,099		$ 74,104
Percentage of Fixed Maturities at Fair Value	0.00%		0.00%
Fixed maturities available for sale | Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 129,304		$ 143,796
Allowance for Credit Losses	0
Gross Unrealized Gains	2,866		5,094
Gross Unrealized Losses	(7,429)		(371)
Fair Value	$ 124,741		$ 148,519
Percentage of Fixed Maturities at Fair Value	1.00%		1.00%

Investments - Schedule of Fixed

Investments - Schedule of Fixed Maturities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Amortized Cost, net
Due in one year or less	$ 62,732
Due after one year through five years	745,715
Due after five years through ten years	1,783,317
Due after ten years through twenty years	5,788,845
Due after twenty years	8,097,882
Mortgage-backed and asset-backed securities	186,690
Fixed maturities, net of allowance for credit losses	16,665,181
Fair Value
Due in one year or less	63,550
Due after one year through five years	816,256
Due after five years through ten years	2,065,078
Due after ten years through twenty years	7,141,059
Due after twenty years	9,381,016
Mortgage-backed and asset-backed securities	194,223
Fixed maturities, fair value	$ 19,661,182	$ 18,907,147

Investments - Schedule of Analy

Investments - Schedule of Analysis of Investment Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net Investment Income [Line Items]
Investment income, gross	$ 236,049	$ 231,442	$ 469,224	$ 462,048
Less investment expense	(4,481)	(4,017)	(8,665)	(7,950)
Net investment income	$ 231,568	227,425	$ 460,559	454,098
Percentage change in investment income, gross	2.00%		2.00%
Percentage change in investment expense	12.00%		9.00%
Percentage change in net investment income	2.00%		1.00%
Fixed maturities available for sale
Net Investment Income [Line Items]
Investment income, gross	$ 217,556	215,867	$ 434,683	431,630
Percentage change in investment income, gross	1.00%		1.00%
Policy loans
Net Investment Income [Line Items]
Investment income, gross	$ 11,213	10,821	$ 22,331	21,457
Percentage change in investment income, gross	4.00%		4.00%
Other long-term investments
Net Investment Income [Line Items]
Investment income, gross	$ 7,146	3,991	$ 11,769	7,379
Percentage change in investment income, gross	79.00%		59.00%
Short-term investments
Net Investment Income [Line Items]
Investment income, gross	$ 134	763	$ 441	1,582
Percentage change in investment income, gross	(82.00%)		(72.00%)
Fair value option
Net Investment Income [Line Items]
Net investment income	$ 4,500	$ 1,400	$ 6,500	$ 2,800

Investments - Schedule of Selec

Investments - Schedule of Selected Information about Sales of Fixed Maturities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales			$ 52,020	$ 34,997
Fixed maturities available for sale
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	$ 1,660	$ 0	52,020	34,997
Gross realized gains	0	0	2,642	46
Gross realized losses	$ (371)	$ 0	$ (371)	$ (3,027)

Investments - Realized Gain (Lo

Investments - Realized Gain (Loss) on Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Realized investment gains (losses) - sales and other	$ 5,928	$ 2,237	$ 10,862	$ 5,907
Provision for credit losses	(865)	0	(32,719)	0
Fair value option—change in fair value	(19,434)	2,869	(18,851)	684
Other investments	9,581	48	9,821	(108)
Realized gains (losses) from investments	(4,790)	5,154	(30,887)	6,483
Applicable tax	1,006	(1,082)	6,486	(1,361)
Realized gains (losses), net of tax	(3,784)	4,072	(24,401)	5,122
Exchanges of fixed maturities	80,400	48,300	86,300	117,200
Exchanges of fixed maturities, net realized gains	$ 7,900	$ 2,500	$ 7,900	$ 8,300

Investments - Assets Measured a

Investments - Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 19,661,182	$ 18,907,147
Percentage of total	4.00%		4.00%
Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of total	3.00%		3.00%
Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of total	1.00%		1.00%
Fixed maturities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 19,661,182	$ 18,907,147
Percentage of total	100.00%	100.00%
Fixed maturities available for sale | U.S. Government direct, guaranteed, and government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 466,816	$ 437,520
Fixed maturities available for sale | States, municipalities, and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,824,027	1,717,656
Fixed maturities available for sale | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	36,516	27,551
Fixed maturities available for sale | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	17,139,983	16,501,797
Fixed maturities available for sale | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,048,525	4,780,806
Fixed maturities available for sale | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,447,808	2,352,287
Fixed maturities available for sale | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,786,068	1,914,884
Fixed maturities available for sale | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	7,857,582	7,453,820
Fixed maturities available for sale | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	69,099	74,104
Fixed maturities available for sale | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	124,741	148,519
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0
Percentage of total	0.00%	0.00%
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Government direct, guaranteed, and government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | States, municipalities, and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 18,920,287	$ 18,147,738
Percentage of total	96.00%	96.00%
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | U.S. Government direct, guaranteed, and government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 466,816	$ 437,520
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | States, municipalities, and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,824,027	1,717,656
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	36,516	27,551
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16,481,067	15,829,669
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,900,057	4,628,875
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,286,065	2,195,539
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,748,616	1,873,482
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	7,546,329	7,131,773
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Significant Other Observable Inputs (Level 2) | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	111,861	135,342
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 740,895	$ 759,409
Percentage of total	4.00%	4.00%
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | U.S. Government direct, guaranteed, and government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | States, municipalities, and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	658,916	672,128
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates | Financial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	148,468	151,931
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates | Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	161,743	156,748
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	37,452	41,402
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Corporates | Other corporate sectors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	311,253	322,047
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Collateralized debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	69,099	74,104
Fixed maturities available for sale | Significant Unobservable Inputs (Level 3) | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 12,880	$ 13,177

Investments - Schedule of Chang

Investments - Schedule of Changes in Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 759,409	$ 639,822
Included in realized gains / losses	1,213	0
Included in other comprehensive income	6,469	30,367
Acquisitions	0	0
Sales	0	0
Amortization	2,279	2,322
Other	(28,475)	(10,059)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 740,895	$ 662,452
Percentage of total	4.00%	4.00%
Fixed maturities available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Percentage of total	100.00%		100.00%
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fixed maturities available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Percentage of total	0.00%		0.00%
Fair Value, Inputs, Level 2 [Member] | Fixed maturities available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Percentage of total	96.00%		96.00%
Significant Unobservable Inputs (Level 3) | Fixed maturities available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Percentage of total	4.00%		4.00%
Asset- backed Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 13,177	$ 12,982
Included in realized gains / losses	0	0
Included in other comprehensive income	(250)	441
Acquisitions	0	0
Sales	0	0
Amortization	0	0
Other	(47)	(220)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 12,880	$ 13,203
Percentage of total	0.00%	0.00%
Collateralized debt obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 74,104	$ 73,369
Included in realized gains / losses	0	0
Included in other comprehensive income	(5,046)	6,306
Acquisitions	0	0
Sales	0	0
Amortization	2,275	2,315
Other	(2,234)	(2,912)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 69,099	$ 79,078
Percentage of total	1.00%	1.00%
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 672,128	$ 553,471
Included in realized gains / losses	1,213	0
Included in other comprehensive income	11,765	23,620
Acquisitions	0	0
Sales	0	0
Amortization	4	7
Other	(26,194)	(6,927)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	$ 658,916	$ 570,171
Percentage of total	3.00%	3.00%

Investments - Unrealized Gains

Investments - Unrealized Gains or (Losses) Included in Other Comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period	$ 6,469	$ 30,367
Asset- backed Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period	(250)	441
Collateralized debt obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period	(5,046)	6,306
Corporates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Changes in Unrealized Gains/Losses included in Other Comprehensive Income for Assets Held at the End of the Period	$ 11,765	$ 23,620

Investments - Information about

Investments - Information about Investments in Unrealized Loss Position (Detail)	Jun. 30, 2020Issueissuer	Dec. 31, 2019Issueissuer
Investments, Debt and Equity Securities [Abstract]
Less than Twelve Months	102	82
Twelve Months or Longer	35	51
Total	137	133
Fixed maturity, portfolio issues	1,731	1,633
Fixed portfolio, number of issuers | issuer	711	656

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Investment Losses by Class of Investment (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	$ 825,495	$ 411,509
Unrealized Loss, Less than Twelve Months	(64,997)	(5,846)
Fair Value, Twelve Months or Longer	287,804	384,305
Unrealized Loss, Twelve Months or Longer	(83,148)	(77,389)
Fair Value	1,113,299	795,814
Total	(148,145)	(83,235)
Investment Grade
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	684,971	389,012
Unrealized Loss, Less than Twelve Months	(47,235)	(5,565)
Fair Value, Twelve Months or Longer	27,150	91,533
Unrealized Loss, Twelve Months or Longer	(3,331)	(4,986)
Fair Value	712,121	480,545
Total	(50,566)	(10,551)
Investment Grade | U.S. Government direct, guaranteed, and government-sponsored enterprises
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	1,255
Unrealized Loss, Less than Twelve Months	0	(2)
Fair Value, Twelve Months or Longer	1,968	21,044
Unrealized Loss, Twelve Months or Longer	(58)	(294)
Fair Value	1,968	22,299
Total	(58)	(296)
Investment Grade | States, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	21,170	66,774
Unrealized Loss, Less than Twelve Months	(478)	(626)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	21,170	66,774
Total	(478)	(626)
Investment Grade | Foreign governments
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	4,690	6,496
Unrealized Loss, Less than Twelve Months	(17)	(396)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	4,690	6,496
Total	(17)	(396)
Investment Grade | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	611,381	314,487
Unrealized Loss, Less than Twelve Months	(41,098)	(4,541)
Fair Value, Twelve Months or Longer	25,174	70,489
Unrealized Loss, Twelve Months or Longer	(3,273)	(4,692)
Fair Value	636,555	384,976
Total	(44,371)	(9,233)
Investment Grade | Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	47,730	0
Unrealized Loss, Less than Twelve Months	(5,642)	0
Fair Value, Twelve Months or Longer	8	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	47,738	0
Total	(5,642)	0
Investment Grade | Financial | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	205,161	117,389
Unrealized Loss, Less than Twelve Months	(10,765)	(1,733)
Fair Value, Twelve Months or Longer	5,594	7,183
Unrealized Loss, Twelve Months or Longer	(2,906)	(1,317)
Fair Value	210,755	124,572
Total	(13,671)	(3,050)
Investment Grade | Utilities | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	8,400
Unrealized Loss, Less than Twelve Months	0	(166)
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	0	8,400
Total	0	(166)
Investment Grade | Energy | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	299,831	52,312
Unrealized Loss, Less than Twelve Months	(23,252)	(1,058)
Fair Value, Twelve Months or Longer	1,736	1,833
Unrealized Loss, Twelve Months or Longer	(212)	(115)
Fair Value	301,567	54,145
Total	(23,464)	(1,173)
Investment Grade | Other corporate sectors | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	106,389	136,386
Unrealized Loss, Less than Twelve Months	(7,081)	(1,584)
Fair Value, Twelve Months or Longer	17,844	61,473
Unrealized Loss, Twelve Months or Longer	(155)	(3,260)
Fair Value	124,233	197,859
Total	(7,236)	(4,844)
Below Investment Grade
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	140,524	22,497
Unrealized Loss, Less than Twelve Months	(17,762)	(281)
Fair Value, Twelve Months or Longer	260,654	292,772
Unrealized Loss, Twelve Months or Longer	(79,817)	(72,403)
Fair Value	401,178	315,269
Total	(97,579)	(72,684)
Below Investment Grade | States, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	0
Unrealized Loss, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	0	0
Unrealized Loss, Twelve Months or Longer	0	0
Fair Value	0	0
Total	0	0
Below Investment Grade | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	140,524	22,497
Unrealized Loss, Less than Twelve Months	(17,762)	(281)
Fair Value, Twelve Months or Longer	238,260	266,077
Unrealized Loss, Twelve Months or Longer	(68,110)	(64,848)
Fair Value	378,784	288,574
Total	(85,872)	(65,129)
Below Investment Grade | Collateralized debt obligations
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	0
Unrealized Loss, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	10,080	12,816
Unrealized Loss, Twelve Months or Longer	(9,920)	(7,184)
Fair Value	10,080	12,816
Total	(9,920)	(7,184)
Below Investment Grade | Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	0	0
Unrealized Loss, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	12,314	13,879
Unrealized Loss, Twelve Months or Longer	(1,787)	(371)
Fair Value	12,314	13,879
Total	(1,787)	(371)
Below Investment Grade | Financial | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	33,256	0
Unrealized Loss, Less than Twelve Months	(6,676)	0
Fair Value, Twelve Months or Longer	99,492	113,481
Unrealized Loss, Twelve Months or Longer	(33,217)	(19,257)
Fair Value	132,748	113,481
Total	(39,893)	(19,257)
Below Investment Grade | Utilities | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	11,387	7,529
Unrealized Loss, Less than Twelve Months	(246)	(135)
Fair Value, Twelve Months or Longer	14,307	14,985
Unrealized Loss, Twelve Months or Longer	(1,370)	(1,264)
Fair Value	25,694	22,514
Total	(1,616)	(1,399)
Below Investment Grade | Energy | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	62,252	14,968
Unrealized Loss, Less than Twelve Months	(8,099)	(146)
Fair Value, Twelve Months or Longer	55,653	69,956
Unrealized Loss, Twelve Months or Longer	(22,298)	(32,406)
Fair Value	117,905	84,924
Total	(30,397)	(32,552)
Below Investment Grade | Other corporate sectors | Corporates
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than Twelve Months	33,629	0
Unrealized Loss, Less than Twelve Months	(2,741)	0
Fair Value, Twelve Months or Longer	68,808	67,655
Unrealized Loss, Twelve Months or Longer	(11,225)	(11,921)
Fair Value	102,437	67,655
Total	$ (13,966)	$ (11,921)

Investments - Fixed Maturities,

Investments - Fixed Maturities, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance			$ 0
Additions to allowance for which credit losses were not previously recorded			33,000
Allowance for credit losses ending balance	$ 32,719		32,719
Corporates
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	31,854	$ 0	0	$ 0
Additions to allowance for which credit losses were not previously recorded	0	0	31,854	0
Additions (reductions) to allowance for fixed maturities that previously had an allowance	865	0	865	0
Reduction of allowance for which the Company intends to sell or more likely than not will be required to sell	0	0	0	0
Allowance for credit losses ending balance	$ 32,719	$ 0	$ 32,719	$ 0

Investments - Schedule of Other

Investments - Schedule of Other Long-Term Investments (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Long-Term Investment [Line Items]
Other long-term investments	$ 432,325	$ 432,325	$ 326,347
Capital called from investment funds	100,000
Investment funds, unfunded commitments	456,000	$ 456,000
Investment funds | Minimum
Long-Term Investment [Line Items]
Investment funds ownership percentage		1.00%
Investment funds | Maximum
Long-Term Investment [Line Items]
Investment funds ownership percentage		20.00%
Commercial mortgage participations
Long-Term Investment [Line Items]
Other long-term investments	164,420	$ 164,420	137,692
Other
Long-Term Investment [Line Items]
Other long-term investments	3,659	3,659	2,804
Partnership Interest - Fair Value Option | Investment funds
Long-Term Investment [Line Items]
Other long-term investments	$ 264,246	$ 264,246	$ 185,851

Investments - Commercial Mortga

Investments - Commercial Mortgage Loan Participations (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)loan	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)loan	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201613Member
Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 168,258		$ 168,258		$ 137,692
Carrying value, gross, percent	102.00%		102.00%		100.00%
Allowance for credit losses	$ (3,838)	$ 0	$ (3,838)	$ (335)	$ 0	$ 0	$ 0
Allowance for credit losses, percent	(2.00%)		(2.00%)		0.00%
Carrying value, net of valuation allowance	$ 164,420		$ 164,420		$ 137,692
Carrying value, net, percent	100.00%		100.00%		100.00%
Number of loans | loan	27		27
South Atlantic | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 52,003		$ 52,003		$ 50,867
Carrying value, gross, percent	32.00%		32.00%		37.00%
Pacific | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 59,042		$ 59,042		$ 36,546
Carrying value, gross, percent	36.00%		36.00%		27.00%
Middle Atlantic | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 30,514		$ 30,514		$ 25,328
Carrying value, gross, percent	18.00%		18.00%		18.00%
East North Central | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 10,589		$ 10,589		$ 10,568
Carrying value, gross, percent	6.00%		6.00%		8.00%
West South Central | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 8,388		$ 8,388		$ 8,072
Carrying value, gross, percent	5.00%		5.00%		6.00%
East South Central | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 4,692		$ 4,692		$ 4,676
Carrying value, gross, percent	3.00%		3.00%		3.00%
West North Central | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 1,389		$ 1,389		$ 0
Carrying value, gross, percent	1.00%		1.00%		0.00%
New England | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 1,641		$ 1,641		$ 1,635
Carrying value, gross, percent	1.00%		1.00%		1.00%
Office | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 42,997		$ 42,997		$ 42,350
Carrying value, gross, percent	26.00%		26.00%		31.00%
Mixed use | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 44,892		$ 44,892		$ 27,501
Carrying value, gross, percent	27.00%		27.00%		20.00%
Hospitality | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 22,736		$ 22,736		$ 22,324
Carrying value, gross, percent	14.00%		14.00%		16.00%
Industrial | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 22,439		$ 22,439		$ 17,612
Carrying value, gross, percent	14.00%		14.00%		13.00%
Retail | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 18,899		$ 18,899		$ 17,318
Carrying value, gross, percent	11.00%		11.00%		12.00%
Multi-family | Commercial mortgage participations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, gross	$ 16,295		$ 16,295		$ 10,587
Carrying value, gross, percent	10.00%		10.00%		8.00%

Investments - Commercial Loan P

Investments - Commercial Loan Participations, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201613Member
Commercial mortgage participations
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans past due, allowance	$ 1,000		$ 1,000
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	335	$ 0	0	$ 0
Provision for credit losses	3,503	0	3,503	0
Securities charge-off	0	0	0	0
Recoveries	0	0	0	0
Allowance for credit losses ending balance	3,838	0	3,838	0
Commercial mortgage participations | Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance	$ 0	$ 0	335	$ 0
Commercial mortgage participations | Cumulative Effect, Period of Adoption, Adjustment, Net of Tax
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses beginning balance			$ 265

Investments - Commercial Loan_2

Investments - Commercial Loan Participations, Past Due (Details) - Commercial mortgage participations $ in Thousands	Jun. 30, 2020USD ($)loan	Dec. 31, 2019loan
Financing Receivable, Past Due [Line Items]
Loans past due | $	$ 4,600
Loans past due, number of contracts | loan	1	0
30-59 Days Delinquent
Financing Receivable, Past Due [Line Items]
Loans past due | $	$ 0
Loans past due, number of contracts | loan	0
60-89 days Delinquent
Financing Receivable, Past Due [Line Items]
Loans past due | $	$ 4,600
Loans past due, number of contracts | loan	1
Greater than 90 Days Delinquent
Financing Receivable, Past Due [Line Items]
Loans past due | $	$ 0
Loans past due, number of contracts | loan	0

Investments - Commercial Mort_2

Investments - Commercial Mortgage Loan Participations Recorded Investment (Details) - Commercial mortgage participations - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance, percent	100.00%	100.00%
Carrying value, net of valuation allowance	$ 164,420	$ 137,692
Less than 70%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance, percent	77.00%	90.00%
Carrying value, net of valuation allowance	$ 126,155	$ 124,460
70% to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance, percent	21.00%	10.00%
Carrying value, net of valuation allowance	$ 34,744	$ 13,232
81% to 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance, percent	0.00%	0.00%
Carrying value, net of valuation allowance	$ 0	$ 0
Greater than 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance, percent	2.00%	0.00%
Carrying value, net of valuation allowance	$ 3,521	$ 0
Less Than 1.00x
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	24,633	75,605
Less Than 1.00x | Less than 70%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	19,747	64,160
Less Than 1.00x | 70% to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	1,365	11,445
Less Than 1.00x | 81% to 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	0
Less Than 1.00x | Greater than 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	3,521	0
1.00x-1.20x
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	139,787	49,421
1.00x-1.20x | Less than 70%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	106,408	47,634
1.00x-1.20x | 70% to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	33,379	1,787
1.00x-1.20x | 81% to 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	0
1.00x-1.20x | Greater than 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	0
Greater Than 1.20x
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	12,666
Greater Than 1.20x | Less than 70%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	12,666
Greater Than 1.20x | 70% to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	0
Greater Than 1.20x | 81% to 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	0	0
Greater Than 1.20x | Greater than 90%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value, net of valuation allowance	$ 0	$ 0

Liability for Unpaid Claims - S

Liability for Unpaid Claims - Summary of Liability for Unpaid Health Claims (Details) - Health premium - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Activity in the Liability for Unpaid Health Claims
Beginning balance	$ 163,808	$ 154,528
Incurred related to:
Current year	301,767	302,129
Prior years	(4,139)	77
Total incurred	297,628	302,206
Paid related to:
Current year	251,768	190,599
Prior year	40,503	110,587
Total paid	292,271	301,186
Ending balance	$ 169,165	$ 155,548

Liability for Unpaid Claims - R

Liability for Unpaid Claims - Reconciliation of Net Incurred and Paid Claims Development to Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Policy claims and other benefits payable:
Policy claims and other benefits payable	$ 380,178	$ 365,402
Life insurance
Policy claims and other benefits payable:
Policy claims and other benefits payable	211,013	201,594
Health premium
Policy claims and other benefits payable:
Policy claims and other benefits payable	$ 169,165	$ 163,808

Postretirement Benefits - Pensi

Postretirement Benefits - Pension Assets by Components at Fair Value (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Investment funds, unfunded commitments	$ 456,000
Pension plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 478,180	$ 468,763
Percentage of plan assets	100.00%	100.00%
Investment funds, percentage ownership by pension plan	1.00%	1.00%
Expected life of investment	4 years	5 years
Investment funds, unfunded commitments		$ 4,100
Pension plan | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 463,412	$ 456,496
Percentage of plan assets	97.00%	97.00%
Pension plan | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 225,880	$ 222,466
Pension plan | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	237,532	234,030
Pension plan | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Pension plan | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 14,768	$ 12,267
Percentage of plan assets	3.00%	3.00%
Pension plan | Total corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 208,715	$ 205,501
Percentage of total plan assets, within plan asset category	44.00%	44.00%
Pension plan | Total corporate bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Total corporate bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	208,715	205,501
Pension plan | Total corporate bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Financial
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 52,297	$ 51,111
Percentage of total plan assets, within plan asset category	11.00%	11.00%
Pension plan | Financial | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Financial | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	52,297	51,111
Pension plan | Financial | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Utilities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 43,921	$ 42,758
Percentage of total plan assets, within plan asset category	9.00%	9.00%
Pension plan | Utilities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Utilities | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	43,921	42,758
Pension plan | Utilities | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Energy
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 20,497	$ 21,907
Percentage of total plan assets, within plan asset category	4.00%	5.00%
Pension plan | Energy | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Energy | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	20,497	21,907
Pension plan | Energy | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Other corporates
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 92,000	$ 89,725
Percentage of total plan assets, within plan asset category	20.00%	19.00%
Pension plan | Other corporates | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Other corporates | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	92,000	89,725
Pension plan | Other corporates | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Exchange traded funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 199,512	$ 207,176
Percentage of total plan assets, within plan asset category	42.00%	44.00%
Pension plan | Exchange traded funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 199,512	$ 207,176
Pension plan | Exchange traded funds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Exchange traded funds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Other bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 266	$ 251
Percentage of total plan assets, within plan asset category	0.00%	0.00%
Pension plan | Other bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Other bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	266	251
Pension plan | Other bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Guaranteed annuity contract
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 28,551	$ 28,278
Percentage of total plan assets, within plan asset category	6.00%	6.00%
Pension plan | Guaranteed annuity contract | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0
Pension plan | Guaranteed annuity contract | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	28,551	28,278
Pension plan | Guaranteed annuity contract | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 19,992	$ 8,414
Percentage of total plan assets, within plan asset category	4.00%	2.00%
Pension plan | Short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 19,992	$ 8,414
Pension plan | Short-term investments | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Short-term investments | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 6,376	$ 6,876
Percentage of total plan assets, within plan asset category	1.00%	1.00%
Pension plan | Other | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 6,376	$ 6,876
Pension plan | Other | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	0	0
Pension plan | Other | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, within plan asset category	$ 0	$ 0

Postretirement Benefits - Activ

Postretirement Benefits - Activity for the SERP (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Retirement Benefits [Abstract]
Premiums paid for COLI	$ 443	$ 444
Total investments:
COLI	48,855		$ 47,733
Exchange traded funds	66,254		65,585
Total investments of SERP	$ 115,109		$ 113,318

Postretirement Benefits - Pen_2

Postretirement Benefits - Pension Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
PBO	$ 664,583	$ 665,207
Qualified Plan | Funded defined benefit pension | Funded defined benefit pension
Defined Benefit Plan Disclosure [Line Items]
PBO	577,841	578,860
Nonqualified Plan | SERP
Defined Benefit Plan Disclosure [Line Items]
PBO	$ 86,742	$ 86,347

Postretirement Benefits - Compo

Postretirement Benefits - Components of Net Periodic Pension Costs and Post-Retirement Benefit Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 6,115	$ 4,983	$ 12,231	$ 9,965
Interest cost	5,647	5,964	11,298	11,928
Expected return on assets	(7,391)	(6,966)	(14,781)	(13,932)
Amortization:
Prior service cost	158	158	316	316
Actuarial (gain) loss	3,925	1,896	7,849	3,790
Net periodic benefit cost	$ 8,454	$ 6,035	$ 16,913	$ 12,067

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (in shares)	106,441,311	109,649,714	106,863,267	109,973,820
Weighted average dilutive options outstanding (in shares)	692,706	1,935,962	1,195,173	1,975,492
Diluted weighted average shares outstanding (in shares)	107,134,017	111,585,676	108,058,440	111,949,312
Antidilutive shares (in shares)	5,417,077	1,359,686	2,281,300	1,359,686

Business Segments - Segment Pre

Business Segments - Segment Premium Income by Distribution Channel and Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)numberOfSegments	Jun. 30, 2019USD ($)
Segment Reporting [Abstract]
Number of segments | numberOfSegments			4
Segment Reporting Information [Line Items]
Amount	$ 953,702	$ 897,484	$ 1,883,537	$ 1,788,457
% of Total	100.00%	100.00%	100.00%	100.00%
Life
Segment Reporting Information [Line Items]
Amount	$ 670,822	$ 631,201	$ 1,320,452	$ 1,255,490
% of Total	100.00%	100.00%	100.00%	100.00%
Health
Segment Reporting Information [Line Items]
Amount	$ 282,877	$ 266,282	$ 563,082	$ 532,966
% of Total	100.00%	100.00%	100.00%	100.00%
Annuity
Segment Reporting Information [Line Items]
Amount	$ 3	$ 1	$ 3	$ 1
% of Total	100.00%	100.00%	100.00%	100.00%
American Income
Segment Reporting Information [Line Items]
Amount	$ 334,229	$ 312,784	$ 662,808	$ 618,650
% of Total	35.00%	35.00%	35.00%	35.00%
American Income | Life
Segment Reporting Information [Line Items]
Amount	$ 308,675	$ 288,334	$ 611,527	$ 570,101
% of Total	46.00%	46.00%	46.00%	45.00%
American Income | Health
Segment Reporting Information [Line Items]
Amount	$ 25,554	$ 24,450	$ 51,281	$ 48,549
% of Total	9.00%	9.00%	9.00%	9.00%
American Income | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
Direct to Consumer
Segment Reporting Information [Line Items]
Amount	$ 254,261	$ 236,527	$ 494,100	$ 474,346
% of Total	27.00%	26.00%	26.00%	26.00%
Direct to Consumer | Life
Segment Reporting Information [Line Items]
Amount	$ 235,201	$ 217,278	$ 455,244	$ 434,837
% of Total	35.00%	35.00%	35.00%	35.00%
Direct to Consumer | Health
Segment Reporting Information [Line Items]
Amount	$ 19,060	$ 19,249	$ 38,856	$ 39,509
% of Total	7.00%	7.00%	7.00%	7.00%
Direct to Consumer | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
Liberty National
Segment Reporting Information [Line Items]
Amount	$ 120,717	$ 118,770	$ 241,225	$ 237,643
% of Total	13.00%	13.00%	13.00%	13.00%
Liberty National | Life
Segment Reporting Information [Line Items]
Amount	$ 73,326	$ 71,478	$ 146,194	$ 142,195
% of Total	11.00%	11.00%	11.00%	11.00%
Liberty National | Health
Segment Reporting Information [Line Items]
Amount	$ 47,391	$ 47,292	$ 95,031	$ 95,448
% of Total	17.00%	18.00%	17.00%	18.00%
Liberty National | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
United American
Segment Reporting Information [Line Items]
Amount	$ 115,369	$ 104,902	$ 227,918	$ 210,558
% of Total	12.00%	12.00%	12.00%	12.00%
United American | Life
Segment Reporting Information [Line Items]
Amount	$ 2,481	$ 2,647	$ 4,971	$ 5,398
% of Total	0.00%	0.00%	0.00%	1.00%
United American | Health
Segment Reporting Information [Line Items]
Amount	$ 112,885	$ 102,254	$ 222,944	$ 205,159
% of Total	40.00%	38.00%	40.00%	39.00%
United American | Annuity
Segment Reporting Information [Line Items]
Amount	$ 3	$ 1	$ 3	$ 1
% of Total	100.00%	100.00%	100.00%	100.00%
Family Heritage
Segment Reporting Information [Line Items]
Amount	$ 79,029	$ 73,964	$ 157,033	$ 146,159
% of Total	8.00%	8.00%	9.00%	8.00%
Family Heritage | Life
Segment Reporting Information [Line Items]
Amount	$ 1,042	$ 927	$ 2,063	$ 1,858
% of Total	0.00%	0.00%	0.00%	0.00%
Family Heritage | Health
Segment Reporting Information [Line Items]
Amount	$ 77,987	$ 73,037	$ 154,970	$ 144,301
% of Total	27.00%	28.00%	27.00%	27.00%
Family Heritage | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
Other
Segment Reporting Information [Line Items]
Amount	$ 50,097	$ 50,537	$ 100,453	$ 101,101
% of Total	5.00%	6.00%	5.00%	6.00%
Other | Life
Segment Reporting Information [Line Items]
Amount	$ 50,097	$ 50,537	$ 100,453	$ 101,101
% of Total	8.00%	8.00%	8.00%	8.00%
Other | Health
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%
Other | Annuity
Segment Reporting Information [Line Items]
Amount	$ 0	$ 0	$ 0	$ 0
% of Total	0.00%	0.00%	0.00%	0.00%

Business Segments - Reconciliat

Business Segments - Reconciliation of Segment Operating Information to Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Revenue:
Premium	$ 953,702	$ 897,484	$ 1,883,537	$ 1,788,457
Net investment income	231,568	227,425	460,559	454,098
Other income	404	398	729	639
Total revenue	1,185,674	1,125,307	2,344,825	2,243,194
Expenses:
Policy benefits	650,816	589,362	1,258,785	1,177,119
Required interest on reserves	0	0	0	0
Required interest on DAC	0	0	0	0
Amortization of acquisition costs	146,160	138,165	289,997	273,987
Commissions, premium taxes, and non-deferred acquisition costs	76,140	73,698	155,077	147,163
Insurance administrative expense	61,566	64,916	128,461	124,507
Parent expense	2,516	2,872	4,847	5,515
Stock-based compensation expense	8,632	11,256	17,988	21,815
Interest expense	22,813	21,432	43,621	42,710
Total benefits and expenses	968,643	901,701	1,898,776	1,792,816
Subtotal	217,031	223,606	446,049	450,378
Non-operating items	0	5,500	3,275	5,900
Measure of segment profitability (pretax)	217,031	229,106	449,324	456,278
Realized gains (losses)	(4,790)	5,154	(30,887)	6,483
Legal proceedings			(3,275)	(5,500)	$ 5,500
Administrative settlements				(400)
Income before income taxes	212,241	228,760	415,162	456,861
Operating Segments | Life
Revenue:
Premium	670,822	631,201	1,320,452	1,255,490
Net investment income	0	0	0	0
Other income	0	0	0	0
Total revenue	670,822	631,201	1,320,452	1,255,490
Expenses:
Policy benefits	459,845	410,961	881,515	820,653
Required interest on reserves	(173,208)	(165,513)	(344,413)	(329,175)
Required interest on DAC	52,107	50,298	104,225	100,322
Amortization of acquisition costs	117,802	110,319	232,110	218,609
Commissions, premium taxes, and non-deferred acquisition costs	52,577	50,086	106,513	100,192
Insurance administrative expense	0	0	0	0
Parent expense	0	0	0	0
Stock-based compensation expense	0	0	0	0
Interest expense	0	0	0	0
Total benefits and expenses	509,123	456,151	979,950	910,601
Subtotal	161,699	175,050	340,502	344,889
Measure of segment profitability (pretax)	161,699	175,050	340,502	344,889
Operating Segments | Health
Revenue:
Premium	282,877	266,282	563,082	532,966
Net investment income	0	0	0	0
Other income	0	0	0	0
Total revenue	282,877	266,282	563,082	532,966
Expenses:
Policy benefits	183,496	170,511	362,207	340,528
Required interest on reserves	(22,851)	(21,680)	(45,361)	(43,176)
Required interest on DAC	6,582	6,341	13,101	12,624
Amortization of acquisition costs	27,854	27,343	56,879	54,357
Commissions, premium taxes, and non-deferred acquisition costs	23,556	23,608	48,551	46,960
Insurance administrative expense	0	0	0	0
Parent expense	0	0	0	0
Stock-based compensation expense	0	0	0	0
Interest expense	0	0	0	0
Total benefits and expenses	218,637	206,123	435,377	411,293
Subtotal	64,240	60,159	127,705	121,673
Measure of segment profitability (pretax)	64,240	60,159	127,705	121,673
Operating Segments | Annuity
Revenue:
Premium	3	1	3	1
Net investment income	0	0	0	0
Other income	0	0	0	0
Total revenue	3	1	3	1
Expenses:
Policy benefits	7,475	7,890	15,063	15,938
Required interest on reserves	(10,332)	(10,888)	(20,788)	(22,008)
Required interest on DAC	84	127	172	258
Amortization of acquisition costs	504	503	1,008	1,021
Commissions, premium taxes, and non-deferred acquisition costs	7	4	13	11
Insurance administrative expense	0	0	0	0
Parent expense	0	0	0	0
Stock-based compensation expense	0	0	0	0
Interest expense	0	0	0	0
Total benefits and expenses	(2,262)	(2,364)	(4,532)	(4,780)
Subtotal	2,265	2,365	4,535	4,781
Measure of segment profitability (pretax)	2,265	2,365	4,535	4,781
Operating Segments | Investment
Revenue:
Premium	0	0	0	0
Net investment income	231,568	227,425	460,559	454,098
Other income	0	0	0	0
Total revenue	231,568	227,425	460,559	454,098
Expenses:
Policy benefits	0	0	0	0
Required interest on reserves	206,391	198,081	410,562	394,359
Required interest on DAC	(58,773)	(56,766)	(117,498)	(113,204)
Amortization of acquisition costs	0	0	0	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0	0	0
Insurance administrative expense	0	0	0	0
Parent expense	0	0	0	0
Stock-based compensation expense	0	0	0	0
Interest expense	22,813	21,432	43,621	42,710
Total benefits and expenses	170,431	162,747	336,685	323,865
Subtotal	61,137	64,678	123,874	130,233
Measure of segment profitability (pretax)	61,137	64,678	123,874	130,233
Corporate & Other
Revenue:
Premium	0	0	0	0
Net investment income	0	0	0	0
Other income	404	398	729	639
Total revenue	404	398	729	639
Expenses:
Policy benefits	0	0	0	0
Required interest on reserves	0	0	0	0
Required interest on DAC	0	0	0	0
Amortization of acquisition costs	0	0	0	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0	0	0
Insurance administrative expense	61,566	59,416	125,186	118,607
Parent expense	2,516	2,872	4,847	5,515
Stock-based compensation expense	8,632	11,256	17,988	21,815
Interest expense	0	0	0	0
Total benefits and expenses	72,714	73,544	148,021	145,937
Subtotal	(72,310)	(73,146)	(147,292)	(145,298)
Measure of segment profitability (pretax)	(72,310)	(73,146)	(147,292)	(145,298)
Adjustments
Revenue:
Other income	0	0		0
Total revenue	0	0	0	0
Expenses:
Policy benefits	0
Commissions, premium taxes, and non-deferred acquisition costs	0	0		0
Insurance administrative expense		5,500	3,275	5,900
Parent expense	0	0	0	0
Total benefits and expenses	0	5,500	3,275	5,900
Subtotal	0	(5,500)	(3,275)	(5,900)
Non-operating items		5,500	3,275	$ 5,900
Measure of segment profitability (pretax)	$ 0	$ 0	$ 0

Debt (Details)

Debt (Details) - Term loan	Apr. 09, 2020USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 300,000,000
Debt instrument term	364 days

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Aug. 03, 2020	Jul. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Repayment of debt					$ 4,375,000	$ 3,125,000
Fixed maturities, available for sale, allowance for credit losses			$ 32,719,000		32,719,000			$ 0
Fixed maturities available for sale—sold					52,020,000	34,997,000
Fixed maturities available for sale
Subsequent Event [Line Items]
Fixed maturities, available for sale, allowance for credit losses			32,719,000		32,719,000
Fixed maturities available for sale—sold			1,660,000	$ 0	52,020,000	34,997,000
Realized loss			(371,000)	0	(371,000)	(3,027,000)
Corporates
Subsequent Event [Line Items]
Fixed maturities, available for sale, allowance for credit losses			32,719,000	$ 0	32,719,000	$ 0	$ 31,854,000	$ 0	$ 0	$ 0
Corporates | Fixed maturities available for sale
Subsequent Event [Line Items]
Fixed maturities, available for sale, allowance for credit losses			32,719,000		32,719,000
Energy | Corporates | Fixed maturities available for sale
Subsequent Event [Line Items]
Fixed maturities, available for sale, allowance for credit losses			32,719,000		$ 32,719,000
Term loan due 2021
Subsequent Event [Line Items]
Debt instrument term					5 years
Debt, face amount			$ 100,000,000		$ 100,000,000
Subsequent Event | Energy | Corporates | Fixed maturities available for sale
Subsequent Event [Line Items]
Fixed maturities available for sale—sold	$ 660,000
Realized loss	(7,000,000)
Realized loss, principal	(6,000,000)
Realized loss, accrued investment income	$ (1,000,000)
Subsequent Event | Term loan due 2021
Subsequent Event [Line Items]
Repayment of debt		$ 82,500,000
Interest paid		$ 101,000