National Western Life Insurance 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 06, 2015
Entity Information [Line Items]
Entity Registrant Name	NATIONAL WESTERN LIFE INSURANCE CO
Entity Central Index Key	70,684
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,436,166
Common Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		200,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Investments:
Securities held to maturity, at amortized cost (fair value: $7,370,596 and $7,175,443)		$ 7,121,439	$ 6,841,543
Securities available for sale, at fair value (cost: $2,740,993 and $2,590,074)		2,840,589	2,728,680
Mortgage loans, net of allowance for possible losses ($650 and $650)	[1]	132,261	149,503
Policy loans		61,933	63,645
Derivatives, index options		72,527	114,287
Other long-term investments		28,961	28,774
Total investments		10,257,710	9,926,432
Cash and cash equivalents		71,710	277,078
Deferred policy acquisition costs		826,083	802,919
Deferred sales inducements		156,371	159,766
Accrued investment income		99,438	96,127
Federal income tax receivable		7,546	0
Other assets		96,436	89,570
Total assets		11,515,294	11,351,892
Future policy benefits:
Universal life and annuity contracts		9,484,080	9,384,297
Traditional life reserves		137,451	138,225
Other policyholder liabilities		143,781	139,222
Deferred Federal income tax liability		40,001	31,675
Federal income tax payable		0	3,336
Other liabilities		117,853	98,817
Total liabilities		$ 9,923,166	$ 9,795,572
COMMITMENTS AND CONTINGENCIES (Note 8)
Common stock:
Additional paid-in capital		$ 38,116	$ 38,116
Accumulated other comprehensive income		27,410	41,786
Retained earnings		1,522,966	1,472,782
Total stockholders’ equity		1,592,128	1,556,320
Total liabilities and stockholders' equity		11,515,294	11,351,892
Common Class A [Member]
Common stock:
Common stock, value outstanding		3,436	3,436
Common Class B [Member]
Common stock:
Common stock, value outstanding		$ 200	$ 200
[1]	Loan-to-Value Ratio determined using the most recent appraised value.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Securities held to maturity-fair value	$ 7,370,596	$ 7,175,443
Securities available for sale-amortized cost	2,740,993	2,590,074
Mortgage loans-allowance for possible losses	$ 650	$ 650
Common Class A [Member]
STOCKHOLDERS’ EQUITY:
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	7,500,000	7,500,000
Common stock, shares issued	3,436,166	3,436,166
Common stock, shares outstanding	3,436,166	3,436,166
Common Class B [Member]
STOCKHOLDERS’ EQUITY:
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	200,000	200,000
Common stock, shares outstanding	200,000	200,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Premiums and other revenues:
Universal life and annuity contract charges	$ 38,345	$ 38,217	$ 75,658	$ 76,222
Traditional life premiums	5,162	5,169	9,509	9,440
Net investment income	102,259	155,179	202,182	263,630
Other revenues	5,194	5,211	10,523	10,974
Net realized investment gains (losses):
Total other-than-temporary impairment (“OTTI”) gains (losses)	(2)	0	158	(32)
Portion of OTTI (gains) losses recognized in other comprehensive income	(105)	0	(265)	(3)
Net OTTI losses recognized in earnings	(107)	0	(107)	(35)
Other net investment gains (losses)	4,365	3,065	5,343	4,613
Total net realized investment gains (losses)	4,258	3,065	5,236	4,578
Total condensed consolidated premiums and other revenues	155,218	206,841	303,108	364,844
Benefits and expenses:
Life and other policy benefits	16,120	14,796	35,386	27,759
Amortization of deferred policy acquisition costs	28,070	27,258	55,722	55,837
Universal life and annuity contract interest	49,431	102,429	98,470	165,365
Other operating expenses	18,802	19,500	39,312	42,963
Total benefits and expenses	112,423	163,983	228,890	291,924
Earnings before Federal income taxes	42,795	42,858	74,218	72,920
Federal income taxes	13,937	13,675	24,034	23,911
Net earnings	28,858	29,183	50,184	49,009
Common Class A [Member]
Benefits and expenses:
Net earnings	$ 28,042	$ 28,358	$ 48,765	$ 47,623
Basic earnings per share:
Earnings Per Share, Basic (in dollars per share)	$ 8.16	$ 8.26	$ 14.19	$ 13.86
Diluted earnings per share:
Earnings Per Share, Diluted (in dollars per share)	$ 8.16	$ 8.25	$ 14.19	$ 13.86
Common Class B [Member]
Benefits and expenses:
Net earnings	$ 816	$ 825	$ 1,419	$ 1,386
Basic earnings per share:
Earnings Per Share, Basic (in dollars per share)	$ 4.08	$ 4.13	$ 7.10	$ 6.93
Diluted earnings per share:
Earnings Per Share, Diluted (in dollars per share)	$ 4.08	$ 4.13	$ 7.10	$ 6.93

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net earnings	$ 28,858	$ 29,183	$ 50,184	$ 49,009
Unrealized gains (losses) on securities:
Net unrealized holding gains (losses) arising during period	(21,202)	10,892	(11,830)	21,894
Net unrealized liquidity gains (losses)	32	28	93	51
Reclassification adjustment for net amounts included in net earnings	(1,855)	(1,946)	(2,020)	(2,371)
Net unrealized gains (losses) on securities	(23,025)	8,974	(13,757)	19,574
Foreign currency translation adjustments	(53)	(122)	(12)	(633)
Benefit plans:
Amortization of net prior service cost and net gain (loss)	(304)	(175)	(607)	(351)
Other comprehensive income (loss)	(23,382)	8,677	(14,376)	18,590
Comprehensive income (loss)	$ 5,476	$ 37,860	$ 35,808	$ 67,599

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Unrealized gains on non-impaired securities [Member]	Accumulated Other-than-Temporary Impairment [Member]	Unrealized losses on impaired held to maturity securities [Member]	Unrealized losses on impaired available for sale securities [Member]	Foreign currency translation adjustments [Member]	Benefit plan liability adjustment [Member]	Retained Earnings [Member]
Total stockholders’ equity at Dec. 31, 2013		$ 3,635	$ 37,767		$ 46,693	$ (1,287)		$ (2)	$ 3,241	$ (10,565)	$ 1,368,466
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares exercised under stock option plan		1	349
Change in unrealized gains (losses) during period, net of tax	$ 21,894				19,523
Amortization						117
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Change in shadow deferred policy acquisition costs						(67)		(1)
Other-than-temporary impairments, non-credit, net of tax								0
Recoveries, net of tax								2
Change in translation adjustments during period	(633)								(633)
Amortization of net prior service cost and net loss, net of tax	(351)									(351)
Net earnings	49,009										49,009
Stockholder dividends											0
Total stockholders’ equity at Jun. 30, 2014	1,515,897	3,636	38,116	$ 56,670	66,216		$ (1,237)	(1)	2,608	(10,916)	1,417,475
Total stockholders’ equity at Dec. 31, 2014	1,556,320	3,636	38,116		54,229	(1,262)		(1)	2,685	(13,865)	1,472,782
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares exercised under stock option plan		0	0
Change in unrealized gains (losses) during period, net of tax	(11,830)				(13,850)
Amortization						172
Other-than-temporary impairments, non-credit, net of tax						0
Additional credit loss on previously impaired securities						0
Change in shadow deferred policy acquisition costs						$ (79)		0
Other-than-temporary impairments, non-credit, net of tax								0
Recoveries, net of tax								0
Change in translation adjustments during period	(12)								(12)
Amortization of net prior service cost and net loss, net of tax	(607)									(607)
Net earnings	50,184										50,184
Stockholder dividends											0
Total stockholders’ equity at Jun. 30, 2015	$ 1,592,128	$ 3,636	$ 38,116	$ 27,410	$ 40,379		$ (1,169)	$ (1)	$ 2,673	$ (14,472)	$ 1,522,966

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net earnings	$ 50,184	$ 49,009
Adjustments to reconcile net earnings to net cash from operating activities:
Universal life and annuity contract interest	98,470	165,365
Surrender charges and other policy revenues	(8,302)	(9,104)
Realized (gains) losses on investments	(5,236)	(4,578)
Accretion/amortization of discounts and premiums, investments	102	(465)
Depreciation and amortization	1,671	1,741
(Increase) decrease in value of derivatives	17,069	(45,799)
(Increase) decrease in deferred policy acquisition and sales inducement costs	(2,190)	(6,062)
(Increase) decrease in accrued investment income	(3,311)	(449)
(Increase) decrease in other assets	(6,938)	(1,635)
Increase (decrease) in liabilities for future policy benefits	2,588	1,344
Increase (decrease) in other policyholder liabilities	4,558	7,127
Increase (decrease) in Federal income taxes liability	(10,882)	(13,501)
Increase (decrease) in deferred Federal income tax	15,735	12,517
Increase (decrease) in other liabilities	4,658	(2,806)
Other, net	0	(1)
Net cash provided by operating activities	158,176	152,703
Proceeds from sales of:
Securities held to maturity	0	0
Securities available for sale	13,131	5,334
Other investments	0	1,016
Proceeds from maturities and redemptions of:
Securities held to maturity	257,063	360,420
Securities available for sale	163,057	102,813
Index options	64,619	105,268
Purchases of:
Securities held to maturity	(534,663)	(477,353)
Securities available for sale	(310,637)	(195,023)
Index options	(40,977)	(33,610)
Other investments	(420)	(296)
Net change in short-term investments	0	0
Principal payments on mortgage loans	18,962	10,240
Cost of mortgage loans acquired	(1,632)	(29,611)
Decrease (increase) in policy loans	1,712	981
Other, net	0	2
Net cash used in investing activities	(369,785)	(149,819)
Cash flows from financing activities:
Deposits to account balances for universal life and annuity contracts	452,124	460,611
Return of account balances on universal life and annuity contracts	(445,871)	(450,565)
Issuance of common stock under stock option plan	0	350
Net cash provided by (used in) financing activities	6,253	10,396
Effect of foreign exchange	(12)	(633)
Net increase (decrease) in cash and short-term investments	(205,368)	12,647
Cash and short-term investments at beginning of period	277,078	120,859
Cash and short-term investments at end of period	71,710	133,506
Cash paid during the period for:
Interest	20	20
Income taxes	22,647	24,416
Noncash operating activities:
Deferral of sales inducements	$ (6,895)	$ (4,851)

Consolidation and Basis of Pres

Consolidation and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation and Basis of Presentation	CONSOLIDATION AND BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments necessary to present fairly the financial position of National Western Life Insurance Company and its subsidiaries (“Company” or "National Western") as of June 30, 2015 , and the results of its operations and its cash flows for the for the three and six months ended June 30, 2015 and 2014 . The results of operations for the six months ended June 30, 2015 are not necessarily indicative of the results to be expected for the full year. It is recommended that these condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and are accessible free of charge through the Company's internet site at www.nationalwesternlife.com or the Securities and Exchange Commission internet site at www.sec.gov . The condensed consolidated balance sheet at December 31, 2014 has been derived from the audited consolidated financial statements as of that date. The accompanying unaudited condensed consolidated financial statements include the accounts of National Western Life Insurance Company and its wholly-owned subsidiaries: The Westcap Corporation, NWL Investments, Inc., NWL Services, Inc., NWL Financial, Inc., NWLSM, Inc. and Regent Care San Marcos Holdings, LLC. All significant intercorporate transactions and accounts have been eliminated in consolidation. The preparation of financial statements in accordance with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates in the accompanying condensed consolidated financial statements include (1) liabilities for future policy benefits, (2) valuation of derivative instruments, (3) recoverability and amortization of deferred policy acquisition costs, (4) valuation allowances for deferred tax assets, (5) other-than-temporary impairment losses on debt securities, (6) commitments and contingencies, and (7) valuation allowances for mortgage loans and real estate. The table below shows the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income for the three and six months ended June 30, 2015 and 2014 . Affected Line Item in the Statements of Earnings Amount Reclassified From Accumulated Other Comprehensive Income Three Months Ended June 30, Six months ended June 30, 2015 2014 2015 2014 (In thousands) Other net investment gains (losses) $ 2,961 2,993 3,215 3,682 Net OTTI losses recognized in earnings (107 ) — (107 ) (35 ) Earnings before Federal income taxes 2,854 2,993 3,108 3,647 Federal income taxes 999 1,047 1,088 1,276 Net earnings $ 1,855 1,946 2,020 2,371

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS In July 2013, the FASB issued guidance to amend the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The new guidance states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as reduction to deferred tax assets for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. This guidance is effective for annual reporting periods beginning on or after December 15, 2013 and interim periods within those annual periods. The Company adopted this guidance as of January 1, 2014 and the adoption did not have an effect on the deferred tax asset or liability classification on the Company's balance sheet and did not result in any additional disclosures to the financial statements. In June 2014, the FASB issued guidance that applies to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. It requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and follows existing accounting guidance for the treatment of performance conditions. The standard will be effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The Company’s current employee share-based plans do not require performance targets and the adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants ("AICPA"), and the SEC are not believed by management to, have a material impact on the Company’s present or future consolidated financial statements.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY The Company is restricted by state insurance laws as to dividend amounts which may be paid to stockholders without prior approval from the Colorado Division of Insurance. The restrictions are based on the greater of statutory earnings from operations excluding capital gains or 10% of statutory surplus of the Company. The maximum dividend payment which may be made without prior approval in 2015 is $118.2 million . The Company did not declare or pay cash dividends on its common stocks during the six months ended June 30, 2015 and 2014 . On April 6, 2015, the Company, National Western Life Group, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Newco”), and NWLIC MergerCo, Inc., a Colorado corporation and wholly-owned subsidiary of Newco (“MergerCo”), entered into an Agreement and Plan of Merger (the “Reorganization Agreement”), that provides for the merger (the “Merger”) of the Company with MergerCo, with the Company surviving the Merger as a wholly-owned subsidiary of Newco. The Merger provides for the conversion of each share of Class A common stock, par value $1.00 per share, of the Company and each share of Class B common stock, par value $1.00 per share, of the Company issued and outstanding immediately prior to the effective time of the Merger, into one duly issued, fully paid and non-assessable share of Class A common stock, par value $0.01 per share, of Newco ("Newco Class A Stock") or Class B common stock, par value $0.01 per share, of Newco, respectively (collectively with the other transactions contemplated by the Reorganization Agreement, the “Reorganization”). In addition, each outstanding option to acquire, or SARs relating to, shares of the Company's Class A Stock would automatically convert into an option to acquire, or SARs relating to, on the same terms and conditions, an identical number of shares of Newco Class A Stock. Upon completion of the Reorganization, Newco, a Delaware corporation, would, in effect, replace the Company, a Colorado corporation, as the publicly held corporation traded on the NASDAQ Global Select Market under the symbol “NWLI”, and the holders of the Company's Class A Stock and Class B Stock would hold the same number of shares and same ownership percentage of Newco after the Reorganization as they held of the Company immediately prior to the Reorganization. The directors of Newco immediately following the Reorganization would be the same individuals who were directors of the Company immediately prior to the Reorganization. The Reorganization Agreement is subject to specified conditions, including approval by the Company's shareholders, which was granted at the Annual Meeting of Shareholders (the "Annual Meeting") on Friday, June 19, 2015. It is currently expected that the Reorganization will be completed in the latter part of 2015 once the other conditions set forth in the Reorganization Agreement are satisfied.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share of common stock are computed by dividing net income by the weighted-average basic common shares outstanding during the period. Diluted earnings per share assumes the issuance of common shares applicable to stock options in the denominator. Three Months Ended June 30, 2015 2014 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 28,858 29,183 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 28,858 29,183 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 28,042 816 28,358 825 Net income $ 28,042 816 28,358 825 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,435 200 Effect of dilutive stock options 1 — 2 — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,437 200 3,437 200 Basic Earnings Per Share $ 8.16 4.08 8.26 4.13 Diluted Earnings Per Share $ 8.16 4.08 8.25 4.13 Stock options that were outstanding during the three months ended June 30, 2015 and 2014 , but were not included in the computation of diluted earnings per share because the effect was anti-dilutive, were approximately 20,800 and 22,300 , respectively. Six Months Ended June 30, 2015 2014 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 50,184 49,009 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 50,184 49,009 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 48,765 1,419 47,623 1,386 Net income $ 48,765 1,419 47,623 1,386 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,435 200 Effect of dilutive stock options 1 — 2 — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,437 200 3,437 200 Basic Earnings Per Share $ 14.19 7.10 13.86 6.93 Diluted Earnings Per Share $ 14.19 7.10 13.86 6.93 Stock options that were outstanding during the six months ended June 30, 2015 and 2014 , but were not included in the computation of diluted earnings per share because the effect was anti-dilutive were approximately 21,300 and 22,300 , respectively.

Pension and Other Postretiremen

Pension and Other Postretirement Plans	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Plans	PENSION AND OTHER POSTRETIREMENT PLANS (A) Defined Benefit Pension Plans The Company sponsors a qualified defined benefit pension plan covering employees enrolled prior to 2008. The plan provides benefits based on the participants' years of service and compensation. The Company makes annual contributions to the plan that complies with the minimum funding provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). On October 19, 2007, the Company's Board of Directors approved an amendment to freeze the Pension Plan as of December 31, 2007. The freeze ceased future benefit accruals to all participants and closed the plan to any new participants. In addition, all participants became immediately 100% vested in their accrued benefits as of that date. Fair values of plan assets and liabilities are measured as of the prior December 31 for each respective year. The following table summarizes the components of net periodic benefit cost. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Service cost $ 51 42 102 84 Interest cost 246 239 492 479 Expected return on plan assets (330 ) (319 ) (660 ) (639 ) Amortization of prior service cost 1 1 2 2 Amortization of net loss 196 106 392 211 Net periodic benefit cost $ 164 69 328 137 The service costs shown in the above table represent plan expenses expected to be paid out of plan assets. Under clarification provided by the Pension Protection Act, plan expenses paid from plan assets are to be included in the plan's service cost component. The Company's minimum required contribution for the 2015 plan year is $0.0 million . The Company had no remaining contribution payable for the 2014 plan year as of June 30, 2015 . As of June 30, 2015 , the Company had contributed a total of $0.0 million to the plan for the 2015 and 2014 plan years. The Company also sponsors a nonqualified defined benefit plan primarily for senior officers. The plan provides benefits based on the participants' years of service and compensation. The pension obligations and administrative responsibilities of the plan are maintained by a pension administration firm, which is a subsidiary of American National Insurance Company ("ANICO"). ANICO has guaranteed the payment of pension obligations under the plan. However, the Company has a contingent liability with respect to the plan should these entities be unable to meet their obligations under the existing agreements. Also, the Company has a contingent liability with respect to the plan in the event that a plan participant continues employment with the Company beyond age seventy, the aggregate average annual participant salary increases exceed 10% per year, or any additional employees become eligible to participate in the plan. If any of these conditions are met, the Company would be responsible for any additional pension obligations resulting from these items. Amendments were made to the plan to allow an additional employee to participate and to change the benefit formula for the Chairman of the Company. As previously mentioned, these additional obligations are a liability to the Company. Effective December 31, 2004, this plan was frozen with respect to the continued accrual of benefits of the Chairman and the President of the Company in order to comply with law changes under the American Jobs Creation Act of 2004 ("Act"). Effective July 1, 2005, the Company established a second nonqualified defined benefit plan for the benefit of the Chairman and the President of the Company. This plan is intended to provide for post-2004 benefit accruals that mirror and supplement the pre-2005 benefit accruals under the previously discussed nonqualified defined benefit plan, while complying with the requirements of the Act. The following table summarizes the components of net periodic benefit costs for the Chairman and President's nonqualified defined benefit plans. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Service cost $ 64 74 128 147 Interest cost 219 251 438 502 Amortization of prior service cost 15 14 30 29 Amortization of net loss 379 324 757 647 Net periodic benefit cost $ 677 663 1,353 1,325 The Company expects to contribute $2.0 million to these plans in 2015 . As of June 30, 2015 , the Company has contributed $0.9 million to the plans. (B) Defined Benefit Postretirement Healthcare Plans The Company sponsors two healthcare plans to provide postretirement benefits to certain fully-vested individuals. The following table summarizes the components of net periodic benefit costs. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Interest cost $ 33 27 65 55 Amortization of prior service cost 26 26 52 52 Amortization of net loss 15 (1 ) 30 (2 ) Net periodic benefit cost $ 74 52 147 105 The Company expects to contribute minimal amounts to the plan in 2015 .

Segment and Other Operating Inf

Segment and Other Operating Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment and Other Operating Information	SEGMENT AND OTHER OPERATING INFORMATION The Company defines its reportable operating segments as domestic life insurance, international life insurance, and annuities. These segments are organized based on product types and geographic marketing areas. A summary of segment information for the quarters ended June 30, 2015 and June 30, 2014 is provided below. Selected Segment Information: Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) June 30, 2015 Condensed Consolidated Balance Sheet Items: Deferred policy acquisition costs and sales inducements $ 70,561 254,785 657,108 — 982,454 Total segment assets 811,768 1,247,941 9,000,323 264,269 11,324,301 Future policy benefits 702,621 954,684 7,964,226 — 9,621,531 Other policyholder liabilities 11,846 16,398 115,537 — 143,781 Three Months Ended June 30, 2015 Condensed Consolidated Income Statements: Premiums and contract revenues $ 7,937 29,364 6,206 — 43,507 Net investment income 8,005 8,785 79,509 5,960 102,259 Other revenues 4 (25 ) 4 5,211 5,194 Total revenues 15,946 38,124 85,719 11,171 150,960 Life and other policy benefits 3,882 5,587 6,651 — 16,120 Amortization of deferred acquisition costs 1,698 5,163 21,209 — 28,070 Universal life and annuity contract interest 5,460 6,927 37,044 — 49,431 Other operating expenses 3,442 5,212 5,434 4,714 18,802 Federal income taxes (benefit) 467 4,932 4,961 2,086 12,446 Total expenses 14,949 27,821 75,299 6,800 124,869 Segment earnings (loss) $ 997 10,303 10,420 4,371 26,091 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Six months ended June 30, 2015 Condensed Consolidated Income Statements: Premiums and contract revenues $ 14,424 59,697 11,046 — 85,167 Net investment income 15,170 17,399 158,745 10,868 202,182 Other revenues 20 61 19 10,423 10,523 Total revenues 29,614 77,157 169,810 21,291 297,872 Life and other policy benefits 8,995 11,792 14,599 — 35,386 Amortization of deferred acquisition costs 4,879 4,513 46,330 — 55,722 Universal life and annuity contract interest 10,399 14,057 74,014 — 98,470 Other operating expenses 7,157 11,134 11,612 9,409 39,312 Federal income taxes (benefit) (584 ) 11,477 7,484 3,824 22,201 Total expenses 30,846 52,973 154,039 13,233 251,091 Segment earnings (loss) $ (1,232 ) 24,184 15,771 8,058 46,781 Selected Segment Information: Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) June 30, 2014 Condensed Consolidated Balance Sheet Items: Deferred policy acquisition costs and sales inducements $ 57,354 238,211 638,108 — 933,673 Total segment assets 670,565 1,229,589 8,749,666 274,434 10,924,254 Future policy benefits 581,946 934,791 7,776,048 — 9,292,785 Other policyholder liabilities 13,259 12,399 124,056 — 149,714 Three Months Ended June 30, 2014 Condensed Consolidated Income Statements: Premiums and contract revenues $ 7,065 29,663 6,658 — 43,386 Net investment income 10,902 16,911 122,666 4,700 155,179 Other revenues 3 60 3 5,145 5,211 Total revenues 17,970 46,634 129,327 9,845 203,776 Life and other policy benefits 1,423 1,668 11,705 — 14,796 Amortization of deferred acquisition costs 1,780 8,808 16,670 — 27,258 Universal life and annuity contract interest 8,158 15,659 78,612 — 102,429 Other operating expenses 3,992 4,835 5,824 4,849 19,500 Federal income taxes (benefit) 851 4,963 5,227 1,561 12,602 Total expenses 16,204 35,933 118,038 6,410 176,585 Segment earnings (loss) $ 1,766 10,701 11,289 3,435 27,191 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Six months ended June 30, 2014 Condensed Consolidated Income Statements: Premiums and contract revenues $ 15,230 58,771 11,661 — 85,662 Net investment income 17,185 27,629 209,283 9,533 263,630 Other revenues 21 301 40 10,612 10,974 Total revenues 32,436 86,701 220,984 20,145 360,266 Life and other policy benefits 3,915 6,703 17,141 — 27,759 Amortization of deferred acquisition costs 4,180 15,553 36,104 — 55,837 Universal life and annuity contract interest 13,263 25,864 126,238 — 165,365 Other operating expenses 8,271 11,860 12,920 9,912 42,963 Federal income taxes (benefit) 916 8,722 9,329 3,342 22,309 Total expenses 30,545 68,702 201,732 13,254 314,233 Segment earnings (loss) $ 1,891 17,999 19,252 6,891 46,033 Reconciliations of segment information to the Company's condensed consolidated financial statements are provided below. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Premiums and Other Revenues : Premiums and contract revenues $ 43,507 43,386 85,167 85,662 Net investment income 102,259 155,179 202,182 263,630 Other revenues 5,194 5,211 10,523 10,974 Realized gains (losses) on investments 4,258 3,065 5,236 4,578 Total condensed consolidated premiums and other revenues $ 155,218 206,841 303,108 364,844 Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 12,446 12,602 22,201 22,309 Taxes on realized gains (losses) on investments 1,491 1,073 1,833 1,602 Total condensed consolidated Federal income taxes $ 13,937 13,675 24,034 23,911 Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Net Earnings : Total segment earnings $ 26,091 27,191 46,781 46,033 Realized gains (losses) on investments, net of taxes 2,767 1,992 3,403 2,976 Total condensed consolidated net earnings $ 28,858 29,183 50,184 49,009 June 30, 2015 2014 (In thousands) Assets : Total segment assets $ 11,324,301 10,924,254 Other unallocated assets 190,993 171,827 Total condensed consolidated assets $ 11,515,294 11,096,081

Share-Based Payments

Share-Based Payments	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payments	SHARE-BASED PAYMENTS The Company had a stock and incentive plan ("1995 Plan") which provided for the grant of any or all of the following types of awards to eligible employees: (1) stock options, including incentive stock options and nonqualified stock options; (2) stock appreciation rights, in tandem with stock options or freestanding; (3) restricted stock; and, (4) performance awards. The 1995 Plan began on April 21, 1995, and was amended on June 25, 2004 to extend the termination date to April 20, 2010. The number of shares of Class A, $1.00 par value, common stock which were allowed to be issued under the 1995 Plan, or as to which stock appreciation rights ("SARs") or other awards were allowed to be granted, could not exceed 300,000 . Effective June 20, 2008, the Company's shareholders approved a 2008 Incentive Plan (“2008 Plan”). The 2008 Plan is substantially similar to the 1995 Plan and authorized an additional number of Class A, $1.00 par value, common stock shares eligible for issue not to exceed 300,000 . These shares may be authorized and unissued shares. The Company has issued only nonqualified stock options and SARs under these plans. All of the employees of the Company and its subsidiaries are eligible to participate in the current 2008 Plan (as well as previously in the expired 1995 Plan). In addition, directors of the Company are eligible to receive the same types of awards as employees except that they are not eligible to receive incentive stock options. Company directors, including members of the Compensation and Stock Option Committee, are eligible for nondiscretionary stock options. The directors' grants vest 20% annually following one full year of service to the Company from the date of grant. The employees' grants vest 20% annually following three full years of service to the Company from the date of grant. All grants issued expire after ten years. No awards were issued during the first six months of 2015 or 2014 . Effective during March 2006, the Company adopted and implemented a limited stock buy-back program with respect to the 1995 Plan which provides option holders the additional alternative of selling shares acquired through the exercise of options directly back to the Company. Option holders may elect to sell such acquired shares back to the Company at any time within ninety (90) days after the exercise of options at the prevailing market price as of the date of notice of election. The buy-back program did not alter the terms and conditions of the 1995 Plan; however, the program necessitated a change in accounting from the equity classification to the liability classification. In August 2008, the Company implemented another limited stock buy-back program, substantially similar to the 2006 program, for shares issued under the 2008 Plan. The Company uses the current fair value method to measure compensation cost. As of June 30, 2015 and 2014 , the liability balance was $7.3 million and $7.7 million , respectively. A summary of shares available for grant and activity is detailed below. Options Outstanding Shares Available For Grant Shares Weighted- Average Exercise Price Stock Options: Balance at January 1, 2015 291,000 29,768 $ 242.48 Exercised — — $ — Forfeited — (1,000 ) $ 255.13 Expired — — $ — Stock options granted — — $ — Balance at June 30, 2015 291,000 28,768 $ 242.04 Stock Appreciation Rights Outstanding Awards Weighted- Average Exercise Price Stock Appreciation Rights: Balance at January 1, 2015 92,186 $ 157.71 Exercised (3,975 ) $ 143.19 Forfeited — $ — Granted — $ — Balance at June 30, 2015 88,211 $ 158.36 Stock options and SARs shown as forfeited in the above tables represent vested and unvested awards not exercised by plan participants prior to their termination from the Company. Forfeited stock options during the six months ended June 30, 2015 were awarded under the 1995 Plan. As the 1995 Plan terminated during calendar year 2010, the forfeited shares are not shown as being added back to the "Shares Available For Grant" balance. The total intrinsic value of SARs exercised was $0.4 million and $0.7 million for the six months ended June 30, 2015 and 2014 , respectively. The total share-based liabilities paid for the exercised SARs were $0.4 million and $0.6 million for the six months ended June 30, 2015 and 2014 , respectively. The total fair value of stock options and SARs vested during the six months ended June 30, 2015 and 2014 was $0.6 million and $0.6 million , respectively. For the six months ended June 30, 2015 and 2014 , the total cash received from the exercise of stock options under the Plans was $0 million and $0.2 million , respectively. The following table summarizes information about stock options and SARs outstanding at June 30, 2015 . Options/SARs Outstanding Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable Exercise prices: $255.13 (options) 20,768 2.8 years 20,768 $208.05 (options) 8,000 3.0 years 8,000 $236.00 (SARs) 250 3.1 years 200 $114.64 (SARs) 23,943 3.6 years 19,764 $132.56 (SARs) 29,518 6.5 years 8,704 $210.22 (SARs) 34,500 8.4 years 1,800 Totals 116,979 59,236 Aggregate intrinsic value (in thousands) $ 7,408 $ 3,703 The aggregate intrinsic value in the table above is based on the closing stock price of $ 239.49 per share on June 30, 2015 . In estimating the fair value of the options outstanding at June 30, 2015 and December 31, 2014 , the Company employed the Black-Scholes option pricing model with assumptions detailed below. June 30, December 31, Expected term of options 2.8 to 8.4 years 3.3 to 9.0 years Expected volatility: Range 21.14% to 37.77% 19.67% to 37.75% Weighted-average 23.96 % 22.91 % Expected dividend yield 0.15 % 0.13 % Risk-free rate: Range 0.22% to 1.54% 0.13% to 1.62% Weighted-average 0.52 % 0.56 % The Company reviewed the contractual term relative to the options as well as perceived future behavior patterns of exercise. Volatility is based on the Company’s historical volatility over the expected term of the option’s expected exercise date. The pre-tax compensation cost (benefit) recognized in the financial statements related to the two plans defined above was $(0.8) million and $(1.6) million for the three and six months ended June 30, 2015 compared to $0.8 million and $2.5 million for the three and six months ended June 30, 2014 . The related tax (expense)/benefit recognized was $0.3 million and $0.6 million for the three and six months ended June, 2015 and 2014 compared to $(0.3) million and $(0.8) million for the three and six months ended June 30, 2014. As of June 30, 2015 , the total compensation cost related to nonvested options not yet recognized was $1.8 million . This amount is expected to be recognized over a weighted-average period of 2.0 years . The Company recognizes compensation cost over the graded vesting periods.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES (A) Legal Proceedings In the normal course of business, the Company is involved or may become involved in various legal actions in which claims for alleged economic and punitive damages have been or may be asserted, some for substantial amounts. In recent years, carriers offering life insurance and annuity products have faced litigation, including class action lawsuits, alleging improper product design, improper sales practices, and similar claims. The Company has been a defendant over the past several years in two such class action lawsuits. Given the uncertainty involved in these types of actions, the ability to make a reliable evaluation of the likelihood of an unfavorable outcome or an estimate of the amount of or range of potential loss is endemic to the particular circumstances and evolving developments of each individual matter on its own merits. The Company resolved a class action lawsuit pending since June 12, 2006, in the U.S. District Court for the Southern District of California. The case is titled In Re National Western Life Insurance Deferred Annuities Litigation . The complaint asserted claims for RICO violations, Financial Elder Abuse, Violation of Cal. Bus. & Prof. Code 17200, et seq, Violation of Cal. Bus. & Prof. Code 17500, et seq, Breach of Fiduciary Duty, Aiding and Abetting Breach of Fiduciary Duty, Fraudulent Concealment, Cal. Civ. Code 1710, et seq, Breach of the Duty of Good Faith and Fair Dealing, and Unjust Enrichment and Imposition of Constructive Trust. On July 12, 2010 the Court certified a nationwide class of policyholders under the RICO allegation and a California class under all of the remaining causes of action except breach of fiduciary duty. The parties entered into a Settlement and Release Agreement in August of 2013 ("Settlement") which was finally approved by the Court on February 11, 2014. On February 12, 2014, the Court issued a redacted final approval order granting the Motion for Final Approval of Class Action Settlement. The Settlement became final and non-appealable on April 12, 2014. The Settlement Agreement and Plaintiffs' Request for Attorneys' Fees and Costs were approved by the Court, and the Company paid the Court-approved amount of attorneys’ fees and costs in April 2014. The Company also made certain payments to surrendered and annuitized policyholders in June 2014. In addition, the Company agreed to provide bonuses on annuitization for active policyholders who choose a 10 -year or a 20 -year certain and life settlement option. The Company had held reserves of $6.5 million for the matter which approximated the ultimate settlement amounts described above. On October 26, 2011 the Brazilian Superintendence of Private Insurance (“SUSEP”) attempted to serve the Company with a subpoena regarding an administrative proceeding initiated by SUSEP in which it alleged that the Company was operating as an insurance company in Brazil without due authorization. The Company had been informed that SUSEP was attempting to impose a penal fine of approximately $6.0 billion on the Company. SUSEP unsuccessfully attempted to serve the Company with notice regarding this matter. The Company does not transact business in Brazil and has no officers, employees, property, or assets in Brazil. The Company believes that SUSEP has no jurisdiction over the Company, that SUSEP's attempts at service of process were invalid, and that any penal fine would be unenforceable. For the reasons described above, the Company does not believe that this matter meets the definition of a material pending legal proceeding as such term is defined in Item 103 of Regulation S-K but has included the foregoing description solely due to the purported amount of the fine sought at that time. Although there can be no assurances, at the present time, the Company does not anticipate that the ultimate liability arising from such other potential, pending, or threatened legal actions will have a material adverse effect on the financial condition or operating results of the Company. Separately, the Brazilian authorities have commenced an investigation into possible violations of Brazilian criminal law in connection with the issuance of the Company's insurance policies to Brazilian residents, and in assistance of such investigation a Commissioner appointed by the U.S. District Court for the Western District of Texas has issued a subpoena upon the Company to provide information relating to such possible violations. No conclusion can be drawn at this time as to the outcome of this investigation or how such outcome may impact the Company's business, results of operations, or financial condition. The Company continues to cooperate with the relevant governmental authorities in regard to this matter. (B) Financial Instruments In order to meet the financing needs of its customers in the normal course of business, the Company is a party to financial instruments with off-balance sheet risk. These financial instruments are commitments to extend credit which involve elements of credit and interest rate risk in excess of the amounts recognized in the condensed consolidated balance sheet. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amounts, assuming that the amounts are fully advanced and that collateral or other security is of no value. Commitments to extend credit are legally binding agreements to lend to a customer that generally have fixed expiration dates or other termination clauses and may require payment of a fee. Commitments do not necessarily represent future liquidity requirements, as some could expire without being drawn upon. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The Company controls the credit risk of these transactions through credit approvals, limits, and monitoring procedures. The Company had $2.8 million commitments to extend credit relating to mortgage loans at June 30, 2015 . The Company evaluates each customer's creditworthiness on a case-by-case basis.

Investments

Investments	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS (A) Investment Gains and Losses The table below presents realized investment gains and losses, excluding impairment losses, for the periods indicated. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Available for sale debt securities: Realized gains on disposal $ 2,985 2,985 3,198 3,677 Realized losses on disposal (65 ) (14 ) (74 ) (22 ) Held to maturity debt securities: Realized gains on disposal 1,404 32 2,128 814 Realized losses on disposal — (6 ) — (17 ) Equity securities realized gains (losses) 41 23 91 27 Real estate gains (losses) — 45 — 134 Totals $ 4,365 3,065 5,343 4,613 The Company uses the specific identification method in computing realized gains and losses. For the three and six months ended June 30, 2015 the percentage of gains on bonds due to the call of securities was 94% and 91% , respectively. This includes calls out of the Company's available for sale portfolio of debt securities. The table below presents net impairment losses recognized in earnings for the periods indicated. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Total other-than-temporary impairment gains (losses) on debt securities $ 105 — 265 (4 ) Portion of loss (gain) recognized in comprehensive income (105 ) — (265 ) (3 ) Net impairment losses on debt securities recognized in earnings — — — (7 ) Equity securities impairments (107 ) — (107 ) (28 ) Totals $ (107 ) — (107 ) (35 ) The table below presents a roll forward of credit losses on securities for which the Company also recorded non-credit other-than-temporary impairments in other comprehensive loss. Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Twelve Months (In thousands) Beginning balance, cumulative credit losses related to other-than-temporary impairments $ 2,278 2,298 2,472 Reductions for securities sold during current period — (20 ) (181 ) Additions for credit losses not previously recognized in other-than-temporary impairments — — 7 Ending balance, cumulative credit losses related to other-than-temporary impairments $ 2,278 2,278 2,298 (B) Debt and Equity Securities The table below presents amortized costs and fair values of securities held to maturity at June 30, 2015 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. agencies $ 15,038 517 (137 ) 15,418 U.S. Treasury 1,923 369 — 2,292 States and political subdivisions 439,504 26,535 (2,536 ) 463,503 Foreign governments — — — — Public utilities 1,010,342 53,640 (4,433 ) 1,059,549 Corporate 4,056,712 153,167 (37,448 ) 4,172,431 Mortgage-backed 1,575,798 62,921 (8,333 ) 1,630,386 Home equity 18,380 4,574 — 22,954 Manufactured housing 3,742 321 — 4,063 Totals $ 7,121,439 302,044 (52,887 ) 7,370,596 The table below presents amortized costs and fair values of securities available for sale at June 30, 2015 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 588 — (53 ) 535 Foreign governments 9,943 482 — 10,425 Public utilities 150,042 8,407 (480 ) 157,969 Corporate 2,512,794 105,156 (22,270 ) 2,595,680 Mortgage-backed 42,184 3,734 — 45,918 Home equity 11,381 199 (8 ) 11,572 Manufactured housing 1,411 43 — 1,454 2,728,343 118,021 (22,811 ) 2,823,553 Equity securities 12,650 4,637 (251 ) 17,036 Totals $ 2,740,993 122,658 (23,062 ) 2,840,589 The table below presents amortized costs and fair values of securities held to maturity at December 31, 2014 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. agencies $ 10,061 705 — 10,766 U.S. Treasury 1,920 409 — 2,329 States and political subdivisions 432,186 31,417 (336 ) 463,267 Public utilities 978,847 67,836 (757 ) 1,045,926 Corporate 3,754,222 183,650 (18,591 ) 3,919,281 Mortgage-backed 1,640,582 68,726 (4,164 ) 1,705,144 Home equity 18,886 4,734 (57 ) 23,563 Manufactured housing 4,839 328 — 5,167 Totals $ 6,841,543 357,805 (23,905 ) 7,175,443 The table below presents amortized costs and fair values of securities available for sale at December 31, 2014 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 589 — (36 ) 553 Foreign governments 9,939 386 — 10,325 Public utilities 169,179 10,163 (126 ) 179,216 Corporate 2,334,700 128,280 (8,961 ) 2,454,019 Mortgage-backed 48,674 4,116 — 52,790 Home equity 11,702 225 (9 ) 11,918 Manufactured housing 2,492 64 — 2,556 2,577,275 143,234 (9,132 ) 2,711,377 Equity securities 12,799 4,849 (345 ) 17,303 Totals $ 2,590,074 148,083 (9,477 ) 2,728,680 The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2015 . Securities Held to Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: U.S. agencies $ 4,858 (137 ) — — 4,858 (137 ) States and political subdivisions 65,904 (1,633 ) 12,567 (903 ) 78,471 (2,536 ) Public utilities 228,627 (3,727 ) 17,802 (706 ) 246,429 (4,433 ) Corporate 1,176,531 (25,477 ) 300,133 (11,971 ) 1,476,664 (37,448 ) Mortgage-backed 234,516 (4,501 ) 85,928 (3,832 ) 320,444 (8,333 ) Total temporarily impaired securities $ 1,710,436 (35,475 ) 416,430 (17,412 ) 2,126,866 (52,887 ) The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2015 . Securities Available for Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — 535 (53 ) 535 (53 ) Public utilities 17,472 (480 ) — — 17,472 (480 ) Corporate 740,487 (16,629 ) 114,467 (5,641 ) 854,954 (22,270 ) Home equity — — 4,827 (8 ) 4,827 (8 ) 757,959 (17,109 ) 119,829 (5,702 ) 877,788 (22,811 ) Equity securities 2,989 (196 ) 1,378 (55 ) 4,367 (251 ) Total temporarily impaired securities $ 760,948 (17,305 ) 121,207 (5,757 ) 882,155 (23,062 ) Unrealized losses for securities held to maturity and securities available for sale increased during the first six months of 2015 due primarily to the upward movement in market interest rates. The Company does not consider investments with unrealized losses to be other-than-temporarily impaired since it does not anticipate selling these securities prior to maturity and expects to receive all amounts due relative to principal and interest. The Company does not consider securities to be other-than-temporarily impaired when the market decline is attributable to factors such as interest rate movements, market volatility, liquidity, spread widening and credit quality and when recovery of all amounts due under the contractual terms of the security is anticipated. Based on the review and the Company's ability and intent not to sell these securities until maturity, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2015 . The Company will monitor the investment portfolio for future changes in issuer facts and circumstances that could result in future impairments beyond those currently identified. During the second quarter of 2015, the Company recorded $0.1 million other-than-temporary impairment on equity securities. Debt securities. The gross unrealized losses for debt securities are made up of 364 individual issues, or 27.3% of the total debt securities held by the Company. The market value of these bonds as a percent of amortized cost averages 97.5% . Of the 364 securities, 77 , or 21.2% , fall in the 12 months or greater aging category; and 361 were rated investment grade at June 30, 2015 . Equity securities. The gross unrealized losses for equity securities are made up of 23 individual issues. These holdings are reviewed quarterly for impairment. The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2014 . Securities Held to Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — 23,076 (336 ) 23,076 (336 ) Public utilities 7,078 (13 ) 48,198 (744 ) 55,276 (757 ) Corporate 156,839 (2,997 ) 698,316 (15,594 ) 855,155 (18,591 ) Mortgage-backed 17,698 (240 ) 181,694 (3,924 ) 199,392 (4,164 ) Home equity 2,206 (57 ) — — 2,206 (57 ) Total temporarily impaired securities $ 183,821 (3,307 ) 951,284 (20,598 ) 1,135,105 (23,905 ) The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2014 . Securities Available for Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — 553 (36 ) 553 (36 ) Public utilities — — 14,827 (126 ) 14,827 (126 ) Corporate 100,373 (2,990 ) 187,699 (5,971 ) 288,072 (8,961 ) Home equity — — 4,826 (9 ) 4,826 (9 ) 100,373 (2,990 ) 207,905 (6,142 ) 308,278 (9,132 ) Equity securities 305 (52 ) 3,801 (293 ) 4,106 (345 ) Total temporarily impaired securities $ 100,678 (3,042 ) 211,706 (6,435 ) 312,384 (9,477 ) (C) Transfer of Securities During the three and six months ended June 30, 2015 and 2014 , the Company made no transfers to the held to maturity category from securities available for sale. (D) Mortgage Loans A financing receivable is a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in a company's statement of financial position. Mortgage, equity, participation and mezzanine loans on real estate are considered financing receivables reported by the Company. Credit and default risk is minimized through strict underwriting guidelines and diversification of underlying property types and geographic locations. In addition to being secured by the property, mortgage loans with leases on the underlying property are often guaranteed by the lease payments and also by the borrower. This approach has proven to result in quality mortgage loans with few defaults. Mortgage loan interest income is recognized on an accrual basis with any premium or discount amortized over the life of the loan. Prepayment and late fees are recorded on the date of collection. Loans in foreclosure, loans considered impaired or loans past due 90 days or more are placed on a non-accrual status. If a mortgage loan is determined to be on non-accrual status, the mortgage loan does not accrue any revenue into the Condensed Consolidated Statements of Earnings. The loan is independently monitored and evaluated as to potential impairment or foreclosure. If delinquent payments are made and the loan is brought current, then the Company returns the loan to active status and accrues income accordingly. The Company had no mortgage loans past due 90 days or more at June 30, 2015 or 2014 and as a result all interest income was recognized at June 30, 2015 or 2014 . The following table represents the mortgage loan portfolio by loan-to-value ratio. June 30, 2015 December 31, 2014 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 44,743 33.7 $ 52,564 35.0 50% to 60% 44,385 33.4 50,553 33.7 60% to 70% 19,935 15.0 14,567 9.7 70% to 80% 4,291 3.2 12,656 8.4 80% to 90% 19,557 14.7 5,399 3.6 Greater than 90% — — 14,414 9.6 Gross balance 132,911 100.0 150,153 100.0 Allowance for possible losses (650 ) (0.5 ) (650 ) (0.4 ) Totals $ 132,261 99.5 $ 149,503 99.6 (1) Loan-to-Value Ratio determined using the most recent appraised value. Appraisals are required at the time of funding and may be updated if a material change occurs from the original loan agreement. The mortgage loans in the greater than 90% category at December 31, 2014 relate to loans made with a long standing borrower. The loans are backed by the investment property, contracted leases, as well as a separate and additional guarantee of the long standing borrower and at June 30, 2015 are included in the 80% to 90% category. All mortgage loans are analyzed quarterly in order to monitor the financial quality of these assets. Based on ongoing monitoring, mortgage loans with a likelihood of becoming delinquent are identified and placed on an internal “watch list”. Among the criteria that may indicate a potential problem include: major tenant vacancies or bankruptcies, late payments, and loan relief/restructuring requests. The mortgage loan portfolio is analyzed for the need for a valuation allowance on any loan that is on the internal watch list, in the process of foreclosure or that currently has a valuation allowance. Mortgage loans are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. When it is determined that a loan is impaired, a loss is recognized for the difference between the carrying amount of the mortgage loan and the estimated value reduced by the cost to sell. Estimated value is typically based on the loan's observable market price or the fair value of the collateral less cost to sell. Impairments and changes in the valuation allowance are reported in net realized investment gains (losses) in the Condensed Consolidated Statements of Earnings. The following table represents the mortgage loan allowance. June 30, 2015 December 31, 2014 (In thousands) Balance, beginning of period $ 650 650 Provision — — Releases — — Balance, end of period $ 650 650

Fair Values of Financial Instru

Fair Values of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments	FAIR VALUES OF FINANCIAL INSTRUMENTS For financial instruments the FASB provides guidance which defines fair value, establishes a framework for measuring fair value under GAAP, and requires additional disclosures about fair value measurements. In compliance with this GAAP guidance, the Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into the required three level hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities recorded at fair value on the Condensed Consolidated Balance Sheets are categorized as follows: Level 1: Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. These generally provide the most reliable evidence and are used to measure fair value whenever available. The Company's Level 1 assets are equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets. Level 2: Fair value is based upon significant inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable for substantially the full term of the asset or liability through corroboration with observable market data as of the reporting date. Level 2 inputs include quoted market prices in active markets for similar assets and liabilities, quoted market prices in markets that are not active for identical or similar assets or liabilities, model-derived valuations whose inputs are observable or whose significant value drivers are observable and other observable inputs. The Company’s Level 2 assets include fixed maturity debt securities (corporate and private bonds, government or agency securities, asset-backed and mortgage-backed securities), and preferred stock. Valuations are generally obtained from third party pricing services for identical or comparable assets or determined through use of valuation methodologies using observable market inputs. Level 3: Fair value is based on significant unobservable inputs which reflect the entity’s or third party pricing service’s assumptions about the assumptions market participants would use in pricing an asset or liability. The Company’s Level 3 assets are over-the-counter derivative contracts and the Company’s Level 3 liabilities consist of share-based compensation obligations and certain product-related embedded derivatives. Valuations are estimated based on non-binding broker prices or internally developed valuation models or methodologies, discounted cash flow models and other similar techniques. The following tables set forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of the date indicated: June 30, 2015 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 2,823,553 — 2,823,553 — Equity securities, available for sale 17,036 16,533 503 — Derivatives, index options 72,527 — — 72,527 Total assets $ 2,913,116 16,533 2,824,056 72,527 Policyholder account balances (a) $ 88,109 — — 88,109 Other liabilities (b) 7,259 — — 7,259 Total liabilities $ 95,368 — — 95,368 During the three and six months ended June 30, 2015 , the Company had no transfers into or out of Levels 1, 2 or 3. December 31, 2014 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 2,711,377 — 2,711,377 — Equity securities, available for sale 17,303 16,862 441 — Derivatives, index options 114,287 — — 114,287 Total assets $ 2,842,967 16,862 2,711,818 114,287 Policyholder account balances (a) $ 133,236 — — 133,236 Other liabilities (b) 9,256 — — 9,256 Total liabilities $ 142,492 — — 142,492 (a) Represents the fair value of certain product-related embedded derivatives that were recorded at fair value. (b) Represents the liability for share-based compensation. The following tables present, by pricing source and fair value hierarchy level, the Company’s assets that are measured at fair value on a recurring basis: June 30, 2015 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 2,823,553 — 2,823,553 — Priced internally — — — — Subtotal 2,823,553 — 2,823,553 — Equity securities, available for sale: Priced by third-party vendors 17,036 16,533 503 — Priced internally — — — — Subtotal 17,036 16,533 503 — Derivatives, index options: Priced by third-party vendors 72,527 — — 72,527 Priced internally — — — — Subtotal 72,527 — — 72,527 Total $ 2,913,116 16,533 2,824,056 72,527 Percent of total 100.0 % 0.6 % 96.9 % 2.5 % December 31, 2014 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 2,711,377 — 2,711,377 — Priced internally — — — — Subtotal 2,711,377 — 2,711,377 — Equity securities, available for sale: Priced by third-party vendors 17,303 16,862 441 — Priced internally — — — — Subtotal 17,303 16,862 441 — Derivatives, index options: Priced by third-party vendors 114,287 — — 114,287 Priced internally — — — — Subtotal 114,287 — — 114,287 Total $ 2,842,967 16,862 2,711,818 114,287 Percent of total 100.0 % 0.6 % 95.4 % 4.0 % The following tables provide additional information about fair value measurements for which significant unobservable (Level 3) inputs were utilized to determine fair value. For the Three Months Ended June 30, 2015 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at April 1, 2015 $ — — 95,987 95,987 119,987 Total realized and unrealized gains (losses): Included in net income — — (8,782 ) (8,782 ) (9,653 ) Included in other comprehensive income — — — — — Purchases, sales, issuances and settlements, net: Purchases — — 21,473 21,473 21,473 Sales — — — — — Issuances — — — — — Settlements — — (36,151 ) (36,151 ) (36,439 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 72,527 72,527 95,368 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — (11,922 ) (11,922 ) — Benefits and expenses — — — — (813 ) Total $ — — (11,922 ) (11,922 ) (813 ) For the Three Months ended June 30, 2014 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at April 1, 2014 $ — — 134,916 134,916 160,536 Total realized and unrealized gains (losses): Included in net income — — 45,251 45,251 44,779 Included in other comprehensive income — — — — — Purchases, sales, issuances and settlements, net: Purchases — — 18,232 18,232 18,232 Sales — — — — — Issuances — — — — — Settlements — — (51,885 ) (51,885 ) (52,119 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 146,514 146,514 171,428 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 43,313 43,313 — Benefits and expenses — — — — 1,006 Total $ — — 43,313 43,313 1,006 Six Months Ended June 30, 2015 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2015 $ — — 114,287 114,287 142,492 Total realized and unrealized gains (losses): Included in net income — — (17,069 ) (17,069 ) (22,036 ) Included in other comprehensive income — — — — — Purchases, sales, issuances and settlements, net: Purchases — — 39,929 39,929 39,929 Sales — — — — — Issuances — — — — — Settlements — — (64,620 ) (64,620 ) (65,017 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 72,527 72,527 95,368 Amount of total gains (losses) for the period included in net income attributable to the change in unrealized gains (losses) relating to assets still held at end of period: Net investment income $ — — (17,830 ) (17,830 ) — Other operating expenses — — — — (1,600 ) Total $ — — (17,830 ) (17,830 ) (1,600 ) Six Months Ended June 30, 2014 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2014 $ — — 169,314 169,314 193,338 Total realized and unrealized gains (losses): Included in net income — — 45,799 45,799 47,430 Included in other comprehensive income — — — — Purchases, sales, issuances and settlements, net: Purchases — — 33,569 33,569 33,569 Sales — — — — — Issuances — — — — — Settlements — — (102,168 ) (102,168 ) (102,909 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 146,514 146,514 171,428 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 44,200 44,200 — Other operating expenses — — — — 3,091 Total $ — — 44,200 44,200 3,091 The following tables show the quantitative information about the Company's level 3 assets and liabilities. June 30, 2015 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 72,527 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 72,527 Policyholder account balances $ 88,109 Deterministic cash flow model Projected option cost Other liabilities 7,259 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 95,368 December 31, 2014 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 114,287 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 114,287 Policyholder account balances $ 133,236 Deterministic cash flow model Projected option cost Other liabilities 9,256 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 142,492 Realized gains (losses) on debt and equity securities are reported in the Condensed Consolidated Statements of Earnings as net investment gains (losses). Unrealized gains (losses) on available for sale debt and equity securities are reported as other comprehensive income (loss) within the stockholders' equity of the Condensed Consolidated Balance Sheet. The fair value hierarchy classifications are reviewed each reporting period. Reclassification of certain financial assets and liabilities may result based on changes in the observability of valuation attributes. Reclassifications are reported as transfers into and out of Level 3 at the beginning fair value for the reporting period in which the changes occur. The carrying amounts and fair values of the Company's financial instruments are as follows: June 30, 2015 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Investments in debt and equity securities: Securities held to maturity $ 7,121,439 7,370,596 — 7,370,596 — Securities available for sale 2,840,589 2,840,589 16,533 2,824,056 — Cash and cash equivalents 71,710 71,710 71,710 — — Mortgage loans 132,261 137,917 — — 137,917 Policy loans 61,933 107,914 — — 107,914 Other loans 2,598 2,773 — — 2,773 Derivatives, index options 72,527 72,527 — — 72,527 Short-term investments — — — — — Life interest in Trust — 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,597,966 7,215,118 — — 7,215,118 Immediate annuity and supplemental contracts 439,889 467,034 — — 467,034 December 31, 2014 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Investments in debt and equity securities: Securities held to maturity $ 6,841,543 7,175,443 — 7,175,443 — Securities available for sale 2,728,680 2,728,680 16,862 2,711,818 — Cash and cash equivalents 277,078 277,078 277,078 — — Mortgage loans 149,503 156,548 — — 156,548 Policy loans 63,645 111,040 — — 111,040 Other loans 2,171 2,300 — — 2,300 Derivatives, index options 114,287 114,287 — — 114,287 Life interest in Trust — 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,546,504 7,178,535 — — 7,178,535 Immediate annuity and supplemental contracts 446,458 474,843 — — 474,843 Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instruments. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for a portion of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Derivative Investments

Derivative Investments	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Investments	DERIVATIVE INVESTMENTS Fixed-index products provide traditional fixed annuities and universal life contracts with the option to have credited interest rates linked in part to an underlying equity index or a combination of equity indices. The equity return component of such policy contracts is identified separately and accounted for in future policy benefits as embedded derivatives on the Condensed Consolidated Balance Sheet. The remaining portions of these policy contracts are considered the host contracts and are recorded separately as fixed annuity or universal life contracts. The host contracts are accounted for under debt instrument type accounting in which future policy benefits are recorded as discounted debt instruments and accreted, using the effective yield method, to their minimum account values at their projected maturities or termination dates. The Company purchases over-the-counter index options, which are derivative financial instruments, to hedge the equity return component of its fixed-index annuity and life products. The index options act as hedges to match closely the returns on the underlying index or indices. The amounts which may be credited to policyholders are linked, in part, to the returns of the underlying index or indices. As a result, changes to policyholders' liabilities are substantially offset by changes in the value of the options. Cash is exchanged upon purchase of the index options and no principal or interest payments are made by either party during the option periods. Upon maturity or expiration of the options, cash may be paid to the Company depending on the performance of the underlying index or indices and terms of the contract. The Company does not elect hedge accounting relative to these derivative instruments. The index options are reported at fair value in the accompanying condensed consolidated financial statements. The changes in the values of the index options and the changes in the policyholder liabilities are both reflected in the Condensed Consolidated Statements of Earnings. Any changes relative to the embedded derivatives associated with policy contracts are reflected in contract interest in the Condensed Consolidated Statements of Earnings. Any gains or losses from the sale or expiration of the options, as well as period-to-period changes in values, are reflected as net investment income in the Condensed Consolidated Statements of Earnings. Although there is credit risk in the event of nonperformance by counterparties to the index options, the Company does not expect any of its counterparties to fail to meet their obligations, given their high credit ratings. In addition, credit support agreements are in place with all counterparties for option holdings in excess of specific limits, which may further reduce the Company's credit exposure. The tables below present the fair value of derivative instruments as of June 30, 2015 and December 31, 2014 , respectively. June 30, 2015 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments Equity index options Derivatives, Index Options $ 72,527 Fixed-index products Universal Life and Annuity Contracts $ 88,109 Total $ 72,527 $ 88,109 December 31, 2014 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments Equity index options Derivatives, Index Options $ 114,287 Fixed-index products Universal Life and Annuity Contracts $ 133,236 Total $ 114,287 $ 133,236 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the three months ended June 30, 2015 and 2014 . June 30, June 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ (8,782 ) 45,251 Fixed-index products Universal life and annuity contract interest 8,840 (43,986 ) $ 58 1,265 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the six months ended June 30, 2015 and 2014 . June 30, June 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ (17,069 ) 45,799 Fixed-index products Universal life and annuity contract interest 20,436 (44,970 ) $ 3,367 829

Consolidation and Basis of Pr19

Consolidation and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassification out of Accumulated Other Comprehensive Income	The table below shows the unrealized gains and losses on available-for-sale securities that were reclassified out of accumulated other comprehensive income for the three and six months ended June 30, 2015 and 2014 . Affected Line Item in the Statements of Earnings Amount Reclassified From Accumulated Other Comprehensive Income Three Months Ended June 30, Six months ended June 30, 2015 2014 2015 2014 (In thousands) Other net investment gains (losses) $ 2,961 2,993 3,215 3,682 Net OTTI losses recognized in earnings (107 ) — (107 ) (35 ) Earnings before Federal income taxes 2,854 2,993 3,108 3,647 Federal income taxes 999 1,047 1,088 1,276 Net earnings $ 1,855 1,946 2,020 2,371

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended June 30, 2015 2014 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 28,858 29,183 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 28,858 29,183 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 28,042 816 28,358 825 Net income $ 28,042 816 28,358 825 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,435 200 Effect of dilutive stock options 1 — 2 — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,437 200 3,437 200 Basic Earnings Per Share $ 8.16 4.08 8.26 4.13 Diluted Earnings Per Share $ 8.16 4.08 8.25 4.13 Stock options that were outstanding during the three months ended June 30, 2015 and 2014 , but were not included in the computation of diluted earnings per share because the effect was anti-dilutive, were approximately 20,800 and 22,300 , respectively. Six Months Ended June 30, 2015 2014 Class A Class B Class A Class B (In thousands except per share amounts) Numerator for Basic and Diluted Earnings Per Share: Net income $ 50,184 49,009 Dividends - Class A shares — — Dividends - Class B shares — — Undistributed income $ 50,184 49,009 Allocation of net income: Dividends $ — — — — Allocation of undistributed income 48,765 1,419 47,623 1,386 Net income $ 48,765 1,419 47,623 1,386 Denominator: Basic earnings per share - weighted-average shares 3,436 200 3,435 200 Effect of dilutive stock options 1 — 2 — Diluted earnings per share - adjusted weighted-average shares for assumed conversions 3,437 200 3,437 200 Basic Earnings Per Share $ 14.19 7.10 13.86 6.93 Diluted Earnings Per Share $ 14.19 7.10 13.86 6.93

Pension and Other Postretirem21

Pension and Other Postretirement Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Defined Benefit Pension Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	The following table summarizes the components of net periodic benefit cost. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Service cost $ 51 42 102 84 Interest cost 246 239 492 479 Expected return on plan assets (330 ) (319 ) (660 ) (639 ) Amortization of prior service cost 1 1 2 2 Amortization of net loss 196 106 392 211 Net periodic benefit cost $ 164 69 328 137
Chairman and President Non-Qualified Defined Benefit Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	The following table summarizes the components of net periodic benefit costs for the Chairman and President's nonqualified defined benefit plans. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Service cost $ 64 74 128 147 Interest cost 219 251 438 502 Amortization of prior service cost 15 14 30 29 Amortization of net loss 379 324 757 647 Net periodic benefit cost $ 677 663 1,353 1,325
Defined Benefit Postretirement Healthcare Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	The following table summarizes the components of net periodic benefit costs. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Interest cost $ 33 27 65 55 Amortization of prior service cost 26 26 52 52 Amortization of net loss 15 (1 ) 30 (2 ) Net periodic benefit cost $ 74 52 147 105

Segment and Other Operating I22

Segment and Other Operating Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Summary of Segment Information, by Quarter	A summary of segment information for the quarters ended June 30, 2015 and June 30, 2014 is provided below. Selected Segment Information: Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) June 30, 2015 Condensed Consolidated Balance Sheet Items: Deferred policy acquisition costs and sales inducements $ 70,561 254,785 657,108 — 982,454 Total segment assets 811,768 1,247,941 9,000,323 264,269 11,324,301 Future policy benefits 702,621 954,684 7,964,226 — 9,621,531 Other policyholder liabilities 11,846 16,398 115,537 — 143,781 Three Months Ended June 30, 2015 Condensed Consolidated Income Statements: Premiums and contract revenues $ 7,937 29,364 6,206 — 43,507 Net investment income 8,005 8,785 79,509 5,960 102,259 Other revenues 4 (25 ) 4 5,211 5,194 Total revenues 15,946 38,124 85,719 11,171 150,960 Life and other policy benefits 3,882 5,587 6,651 — 16,120 Amortization of deferred acquisition costs 1,698 5,163 21,209 — 28,070 Universal life and annuity contract interest 5,460 6,927 37,044 — 49,431 Other operating expenses 3,442 5,212 5,434 4,714 18,802 Federal income taxes (benefit) 467 4,932 4,961 2,086 12,446 Total expenses 14,949 27,821 75,299 6,800 124,869 Segment earnings (loss) $ 997 10,303 10,420 4,371 26,091 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Six months ended June 30, 2015 Condensed Consolidated Income Statements: Premiums and contract revenues $ 14,424 59,697 11,046 — 85,167 Net investment income 15,170 17,399 158,745 10,868 202,182 Other revenues 20 61 19 10,423 10,523 Total revenues 29,614 77,157 169,810 21,291 297,872 Life and other policy benefits 8,995 11,792 14,599 — 35,386 Amortization of deferred acquisition costs 4,879 4,513 46,330 — 55,722 Universal life and annuity contract interest 10,399 14,057 74,014 — 98,470 Other operating expenses 7,157 11,134 11,612 9,409 39,312 Federal income taxes (benefit) (584 ) 11,477 7,484 3,824 22,201 Total expenses 30,846 52,973 154,039 13,233 251,091 Segment earnings (loss) $ (1,232 ) 24,184 15,771 8,058 46,781 Selected Segment Information: Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) June 30, 2014 Condensed Consolidated Balance Sheet Items: Deferred policy acquisition costs and sales inducements $ 57,354 238,211 638,108 — 933,673 Total segment assets 670,565 1,229,589 8,749,666 274,434 10,924,254 Future policy benefits 581,946 934,791 7,776,048 — 9,292,785 Other policyholder liabilities 13,259 12,399 124,056 — 149,714 Three Months Ended June 30, 2014 Condensed Consolidated Income Statements: Premiums and contract revenues $ 7,065 29,663 6,658 — 43,386 Net investment income 10,902 16,911 122,666 4,700 155,179 Other revenues 3 60 3 5,145 5,211 Total revenues 17,970 46,634 129,327 9,845 203,776 Life and other policy benefits 1,423 1,668 11,705 — 14,796 Amortization of deferred acquisition costs 1,780 8,808 16,670 — 27,258 Universal life and annuity contract interest 8,158 15,659 78,612 — 102,429 Other operating expenses 3,992 4,835 5,824 4,849 19,500 Federal income taxes (benefit) 851 4,963 5,227 1,561 12,602 Total expenses 16,204 35,933 118,038 6,410 176,585 Segment earnings (loss) $ 1,766 10,701 11,289 3,435 27,191 Domestic Life Insurance International Life Insurance Annuities All Others Totals (In thousands) Six months ended June 30, 2014 Condensed Consolidated Income Statements: Premiums and contract revenues $ 15,230 58,771 11,661 — 85,662 Net investment income 17,185 27,629 209,283 9,533 263,630 Other revenues 21 301 40 10,612 10,974 Total revenues 32,436 86,701 220,984 20,145 360,266 Life and other policy benefits 3,915 6,703 17,141 — 27,759 Amortization of deferred acquisition costs 4,180 15,553 36,104 — 55,837 Universal life and annuity contract interest 13,263 25,864 126,238 — 165,365 Other operating expenses 8,271 11,860 12,920 9,912 42,963 Federal income taxes (benefit) 916 8,722 9,329 3,342 22,309 Total expenses 30,545 68,702 201,732 13,254 314,233 Segment earnings (loss) $ 1,891 17,999 19,252 6,891 46,033
Reconciliation of Segment Premiums and Other Revenues to Condensed Consolidated Financial Statements	Reconciliations of segment information to the Company's condensed consolidated financial statements are provided below. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Premiums and Other Revenues : Premiums and contract revenues $ 43,507 43,386 85,167 85,662 Net investment income 102,259 155,179 202,182 263,630 Other revenues 5,194 5,211 10,523 10,974 Realized gains (losses) on investments 4,258 3,065 5,236 4,578 Total condensed consolidated premiums and other revenues $ 155,218 206,841 303,108 364,844
Reconciliation of Segment Federal Income Taxes to Condensed Consolidated Financial Statements	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Federal Income Taxes : Total segment Federal income taxes $ 12,446 12,602 22,201 22,309 Taxes on realized gains (losses) on investments 1,491 1,073 1,833 1,602 Total condensed consolidated Federal income taxes $ 13,937 13,675 24,034 23,911
Reconciliation of Segment Net Earnings to Condensed Consolidated Financial Statements	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Net Earnings : Total segment earnings $ 26,091 27,191 46,781 46,033 Realized gains (losses) on investments, net of taxes 2,767 1,992 3,403 2,976 Total condensed consolidated net earnings $ 28,858 29,183 50,184 49,009
Reconciliation of Segment Assets to Condensed Consolidated Financial Statements	June 30, 2015 2014 (In thousands) Assets : Total segment assets $ 11,324,301 10,924,254 Other unallocated assets 190,993 171,827 Total condensed consolidated assets $ 11,515,294 11,096,081

Share-Based Payments (Tables)

Share-Based Payments (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Shares Available for Grant and Stock Option Activity	A summary of shares available for grant and activity is detailed below. Options Outstanding Shares Available For Grant Shares Weighted- Average Exercise Price Stock Options: Balance at January 1, 2015 291,000 29,768 $ 242.48 Exercised — — $ — Forfeited — (1,000 ) $ 255.13 Expired — — $ — Stock options granted — — $ — Balance at June 30, 2015 291,000 28,768 $ 242.04
Schedule of Stock Appreciation Rights Activity	Stock Appreciation Rights Outstanding Awards Weighted- Average Exercise Price Stock Appreciation Rights: Balance at January 1, 2015 92,186 $ 157.71 Exercised (3,975 ) $ 143.19 Forfeited — $ — Granted — $ — Balance at June 30, 2015 88,211 $ 158.36
Summary of Information About Stock Options and SARs Outstanding	The following table summarizes information about stock options and SARs outstanding at June 30, 2015 . Options/SARs Outstanding Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable Exercise prices: $255.13 (options) 20,768 2.8 years 20,768 $208.05 (options) 8,000 3.0 years 8,000 $236.00 (SARs) 250 3.1 years 200 $114.64 (SARs) 23,943 3.6 years 19,764 $132.56 (SARs) 29,518 6.5 years 8,704 $210.22 (SARs) 34,500 8.4 years 1,800 Totals 116,979 59,236 Aggregate intrinsic value (in thousands) $ 7,408 $ 3,703
Summary of Assumptions Employed Using Black-Scholes Option Pricing Model	In estimating the fair value of the options outstanding at June 30, 2015 and December 31, 2014 , the Company employed the Black-Scholes option pricing model with assumptions detailed below. June 30, December 31, Expected term of options 2.8 to 8.4 years 3.3 to 9.0 years Expected volatility: Range 21.14% to 37.77% 19.67% to 37.75% Weighted-average 23.96 % 22.91 % Expected dividend yield 0.15 % 0.13 % Risk-free rate: Range 0.22% to 1.54% 0.13% to 1.62% Weighted-average 0.52 % 0.56 %

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Realized Investment Gains (Losses), Excluding Impairment Losses	The table below presents realized investment gains and losses, excluding impairment losses, for the periods indicated. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Available for sale debt securities: Realized gains on disposal $ 2,985 2,985 3,198 3,677 Realized losses on disposal (65 ) (14 ) (74 ) (22 ) Held to maturity debt securities: Realized gains on disposal 1,404 32 2,128 814 Realized losses on disposal — (6 ) — (17 ) Equity securities realized gains (losses) 41 23 91 27 Real estate gains (losses) — 45 — 134 Totals $ 4,365 3,065 5,343 4,613
Net Impairment Losses Recognized in Earnings	The table below presents net impairment losses recognized in earnings for the periods indicated. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Total other-than-temporary impairment gains (losses) on debt securities $ 105 — 265 (4 ) Portion of loss (gain) recognized in comprehensive income (105 ) — (265 ) (3 ) Net impairment losses on debt securities recognized in earnings — — — (7 ) Equity securities impairments (107 ) — (107 ) (28 ) Totals $ (107 ) — (107 ) (35 )
Credit Losses on Securities, Also Recorded as Non-Credit Other-than-Temporary Impairments in Other Comprehensive Loss	The table below presents a roll forward of credit losses on securities for which the Company also recorded non-credit other-than-temporary impairments in other comprehensive loss. Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Twelve Months (In thousands) Beginning balance, cumulative credit losses related to other-than-temporary impairments $ 2,278 2,298 2,472 Reductions for securities sold during current period — (20 ) (181 ) Additions for credit losses not previously recognized in other-than-temporary impairments — — 7 Ending balance, cumulative credit losses related to other-than-temporary impairments $ 2,278 2,278 2,298
Schedule of Held-to-Maturity Securities	The table below presents amortized costs and fair values of securities held to maturity at June 30, 2015 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. agencies $ 15,038 517 (137 ) 15,418 U.S. Treasury 1,923 369 — 2,292 States and political subdivisions 439,504 26,535 (2,536 ) 463,503 Foreign governments — — — — Public utilities 1,010,342 53,640 (4,433 ) 1,059,549 Corporate 4,056,712 153,167 (37,448 ) 4,172,431 Mortgage-backed 1,575,798 62,921 (8,333 ) 1,630,386 Home equity 18,380 4,574 — 22,954 Manufactured housing 3,742 321 — 4,063 Totals $ 7,121,439 302,044 (52,887 ) 7,370,596 The table below presents amortized costs and fair values of securities held to maturity at December 31, 2014 . Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: U.S. agencies $ 10,061 705 — 10,766 U.S. Treasury 1,920 409 — 2,329 States and political subdivisions 432,186 31,417 (336 ) 463,267 Public utilities 978,847 67,836 (757 ) 1,045,926 Corporate 3,754,222 183,650 (18,591 ) 3,919,281 Mortgage-backed 1,640,582 68,726 (4,164 ) 1,705,144 Home equity 18,886 4,734 (57 ) 23,563 Manufactured housing 4,839 328 — 5,167 Totals $ 6,841,543 357,805 (23,905 ) 7,175,443
Schedule of Available-for-Sale Securities	The table below presents amortized costs and fair values of securities available for sale at December 31, 2014 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 589 — (36 ) 553 Foreign governments 9,939 386 — 10,325 Public utilities 169,179 10,163 (126 ) 179,216 Corporate 2,334,700 128,280 (8,961 ) 2,454,019 Mortgage-backed 48,674 4,116 — 52,790 Home equity 11,702 225 (9 ) 11,918 Manufactured housing 2,492 64 — 2,556 2,577,275 143,234 (9,132 ) 2,711,377 Equity securities 12,799 4,849 (345 ) 17,303 Totals $ 2,590,074 148,083 (9,477 ) 2,728,680 The table below presents amortized costs and fair values of securities available for sale at June 30, 2015 . Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Debt securities: States and political subdivisions $ 588 — (53 ) 535 Foreign governments 9,943 482 — 10,425 Public utilities 150,042 8,407 (480 ) 157,969 Corporate 2,512,794 105,156 (22,270 ) 2,595,680 Mortgage-backed 42,184 3,734 — 45,918 Home equity 11,381 199 (8 ) 11,572 Manufactured housing 1,411 43 — 1,454 2,728,343 118,021 (22,811 ) 2,823,553 Equity securities 12,650 4,637 (251 ) 17,036 Totals $ 2,740,993 122,658 (23,062 ) 2,840,589
Schedule of Gross Unrealized Losses and Fair Values of Held-to-Maturity Investments, Continuous Unrealized Loss Position	The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2015 . Securities Held to Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: U.S. agencies $ 4,858 (137 ) — — 4,858 (137 ) States and political subdivisions 65,904 (1,633 ) 12,567 (903 ) 78,471 (2,536 ) Public utilities 228,627 (3,727 ) 17,802 (706 ) 246,429 (4,433 ) Corporate 1,176,531 (25,477 ) 300,133 (11,971 ) 1,476,664 (37,448 ) Mortgage-backed 234,516 (4,501 ) 85,928 (3,832 ) 320,444 (8,333 ) Total temporarily impaired securities $ 1,710,436 (35,475 ) 416,430 (17,412 ) 2,126,866 (52,887 ) The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2014 . Securities Held to Maturity Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — 23,076 (336 ) 23,076 (336 ) Public utilities 7,078 (13 ) 48,198 (744 ) 55,276 (757 ) Corporate 156,839 (2,997 ) 698,316 (15,594 ) 855,155 (18,591 ) Mortgage-backed 17,698 (240 ) 181,694 (3,924 ) 199,392 (4,164 ) Home equity 2,206 (57 ) — — 2,206 (57 ) Total temporarily impaired securities $ 183,821 (3,307 ) 951,284 (20,598 ) 1,135,105 (23,905 )
Schedule of Gross Unrealized Losses and Fair Values of Available-for-Sale Investments, Continuous Unrealized Loss Position	The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2014 . Securities Available for Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — 553 (36 ) 553 (36 ) Public utilities — — 14,827 (126 ) 14,827 (126 ) Corporate 100,373 (2,990 ) 187,699 (5,971 ) 288,072 (8,961 ) Home equity — — 4,826 (9 ) 4,826 (9 ) 100,373 (2,990 ) 207,905 (6,142 ) 308,278 (9,132 ) Equity securities 305 (52 ) 3,801 (293 ) 4,106 (345 ) Total temporarily impaired securities $ 100,678 (3,042 ) 211,706 (6,435 ) 312,384 (9,477 ) The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2015 . Securities Available for Sale Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Debt securities: States and political subdivisions $ — — 535 (53 ) 535 (53 ) Public utilities 17,472 (480 ) — — 17,472 (480 ) Corporate 740,487 (16,629 ) 114,467 (5,641 ) 854,954 (22,270 ) Home equity — — 4,827 (8 ) 4,827 (8 ) 757,959 (17,109 ) 119,829 (5,702 ) 877,788 (22,811 ) Equity securities 2,989 (196 ) 1,378 (55 ) 4,367 (251 ) Total temporarily impaired securities $ 760,948 (17,305 ) 121,207 (5,757 ) 882,155 (23,062 )
Schedule of Mortgage Loans by Loan-to-Value Ratio	The following table represents the mortgage loan portfolio by loan-to-value ratio. June 30, 2015 December 31, 2014 Amount % Amount % (In thousands) (In thousands) Mortgage Loans by Loan-to-Value Ratio (1): Less than 50% $ 44,743 33.7 $ 52,564 35.0 50% to 60% 44,385 33.4 50,553 33.7 60% to 70% 19,935 15.0 14,567 9.7 70% to 80% 4,291 3.2 12,656 8.4 80% to 90% 19,557 14.7 5,399 3.6 Greater than 90% — — 14,414 9.6 Gross balance 132,911 100.0 150,153 100.0 Allowance for possible losses (650 ) (0.5 ) (650 ) (0.4 ) Totals $ 132,261 99.5 $ 149,503 99.6 (1) Loan-to-Value Ratio determined using the most recent appraised value.
Schedule of Allowance for Mortgage Loans	The following table represents the mortgage loan allowance. June 30, 2015 December 31, 2014 (In thousands) Balance, beginning of period $ 650 650 Provision — — Releases — — Balance, end of period $ 650 650

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables set forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of the date indicated: June 30, 2015 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 2,823,553 — 2,823,553 — Equity securities, available for sale 17,036 16,533 503 — Derivatives, index options 72,527 — — 72,527 Total assets $ 2,913,116 16,533 2,824,056 72,527 Policyholder account balances (a) $ 88,109 — — 88,109 Other liabilities (b) 7,259 — — 7,259 Total liabilities $ 95,368 — — 95,368 During the three and six months ended June 30, 2015 , the Company had no transfers into or out of Levels 1, 2 or 3. December 31, 2014 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale $ 2,711,377 — 2,711,377 — Equity securities, available for sale 17,303 16,862 441 — Derivatives, index options 114,287 — — 114,287 Total assets $ 2,842,967 16,862 2,711,818 114,287 Policyholder account balances (a) $ 133,236 — — 133,236 Other liabilities (b) 9,256 — — 9,256 Total liabilities $ 142,492 — — 142,492 (a) Represents the fair value of certain product-related embedded derivatives that were recorded at fair value. (b) Represents the liability for share-based compensation.
Schedule of Assets by Pricing Source and Fair Value Hierarchy Measured on Recurring Basis	The following tables present, by pricing source and fair value hierarchy level, the Company’s assets that are measured at fair value on a recurring basis: June 30, 2015 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 2,823,553 — 2,823,553 — Priced internally — — — — Subtotal 2,823,553 — 2,823,553 — Equity securities, available for sale: Priced by third-party vendors 17,036 16,533 503 — Priced internally — — — — Subtotal 17,036 16,533 503 — Derivatives, index options: Priced by third-party vendors 72,527 — — 72,527 Priced internally — — — — Subtotal 72,527 — — 72,527 Total $ 2,913,116 16,533 2,824,056 72,527 Percent of total 100.0 % 0.6 % 96.9 % 2.5 % December 31, 2014 Total Level 1 Level 2 Level 3 (In thousands) Debt securities, available for sale: Priced by third-party vendors $ 2,711,377 — 2,711,377 — Priced internally — — — — Subtotal 2,711,377 — 2,711,377 — Equity securities, available for sale: Priced by third-party vendors 17,303 16,862 441 — Priced internally — — — — Subtotal 17,303 16,862 441 — Derivatives, index options: Priced by third-party vendors 114,287 — — 114,287 Priced internally — — — — Subtotal 114,287 — — 114,287 Total $ 2,842,967 16,862 2,711,818 114,287 Percent of total 100.0 % 0.6 % 95.4 % 4.0 %
Schedule of Significant Unobservable Inputs for Fair Value Measurements	The following tables provide additional information about fair value measurements for which significant unobservable (Level 3) inputs were utilized to determine fair value. For the Three Months Ended June 30, 2015 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at April 1, 2015 $ — — 95,987 95,987 119,987 Total realized and unrealized gains (losses): Included in net income — — (8,782 ) (8,782 ) (9,653 ) Included in other comprehensive income — — — — — Purchases, sales, issuances and settlements, net: Purchases — — 21,473 21,473 21,473 Sales — — — — — Issuances — — — — — Settlements — — (36,151 ) (36,151 ) (36,439 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 72,527 72,527 95,368 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — (11,922 ) (11,922 ) — Benefits and expenses — — — — (813 ) Total $ — — (11,922 ) (11,922 ) (813 ) For the Three Months ended June 30, 2014 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Balance at April 1, 2014 $ — — 134,916 134,916 160,536 Total realized and unrealized gains (losses): Included in net income — — 45,251 45,251 44,779 Included in other comprehensive income — — — — — Purchases, sales, issuances and settlements, net: Purchases — — 18,232 18,232 18,232 Sales — — — — — Issuances — — — — — Settlements — — (51,885 ) (51,885 ) (52,119 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 146,514 146,514 171,428 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 43,313 43,313 — Benefits and expenses — — — — 1,006 Total $ — — 43,313 43,313 1,006 Six Months Ended June 30, 2015 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2015 $ — — 114,287 114,287 142,492 Total realized and unrealized gains (losses): Included in net income — — (17,069 ) (17,069 ) (22,036 ) Included in other comprehensive income — — — — — Purchases, sales, issuances and settlements, net: Purchases — — 39,929 39,929 39,929 Sales — — — — — Issuances — — — — — Settlements — — (64,620 ) (64,620 ) (65,017 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 72,527 72,527 95,368 Amount of total gains (losses) for the period included in net income attributable to the change in unrealized gains (losses) relating to assets still held at end of period: Net investment income $ — — (17,830 ) (17,830 ) — Other operating expenses — — — — (1,600 ) Total $ — — (17,830 ) (17,830 ) (1,600 ) Six Months Ended June 30, 2014 Debt Securities, Available for Sale Equity Securities, Available for Sale Derivatives, Index Options Total Assets Other Liabilities (In thousands) Beginning balance, January 1, 2014 $ — — 169,314 169,314 193,338 Total realized and unrealized gains (losses): Included in net income — — 45,799 45,799 47,430 Included in other comprehensive income — — — — Purchases, sales, issuances and settlements, net: Purchases — — 33,569 33,569 33,569 Sales — — — — — Issuances — — — — — Settlements — — (102,168 ) (102,168 ) (102,909 ) Transfers into (out of) Level 3 — — — — — Balance at end of period $ — — 146,514 146,514 171,428 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period: Net investment income $ — — 44,200 44,200 — Other operating expenses — — — — 3,091 Total $ — — 44,200 44,200 3,091
Schedule of quantitative information of Level 3 liabilities	The following tables show the quantitative information about the Company's level 3 assets and liabilities. June 30, 2015 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 72,527 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 72,527 Policyholder account balances $ 88,109 Deterministic cash flow model Projected option cost Other liabilities 7,259 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 95,368 December 31, 2014 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 114,287 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 114,287 Policyholder account balances $ 133,236 Deterministic cash flow model Projected option cost Other liabilities 9,256 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 142,492
Schedule of quantitative information of Level 3 assets	he following tables show the quantitative information about the Company's level 3 assets and liabilities. June 30, 2015 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 72,527 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 72,527 Policyholder account balances $ 88,109 Deterministic cash flow model Projected option cost Other liabilities 7,259 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 95,368 December 31, 2014 Fair Value Valuation Technique Unobservable Input (In thousands) Derivatives, index options $ 114,287 Broker prices Implied volatility Inputs from broker proprietary models Total assets $ 114,287 Policyholder account balances $ 133,236 Deterministic cash flow model Projected option cost Other liabilities 9,256 Black-Scholes model Expected term Forfeiture assumptions Total liabilities $ 142,492
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of the Company's financial instruments are as follows: June 30, 2015 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Investments in debt and equity securities: Securities held to maturity $ 7,121,439 7,370,596 — 7,370,596 — Securities available for sale 2,840,589 2,840,589 16,533 2,824,056 — Cash and cash equivalents 71,710 71,710 71,710 — — Mortgage loans 132,261 137,917 — — 137,917 Policy loans 61,933 107,914 — — 107,914 Other loans 2,598 2,773 — — 2,773 Derivatives, index options 72,527 72,527 — — 72,527 Short-term investments — — — — — Life interest in Trust — 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,597,966 7,215,118 — — 7,215,118 Immediate annuity and supplemental contracts 439,889 467,034 — — 467,034 December 31, 2014 Fair Value Hierarchy Level Carrying Values Fair Values Level 1 Level 2 Level 3 (In thousands) ASSETS Investments in debt and equity securities: Securities held to maturity $ 6,841,543 7,175,443 — 7,175,443 — Securities available for sale 2,728,680 2,728,680 16,862 2,711,818 — Cash and cash equivalents 277,078 277,078 277,078 — — Mortgage loans 149,503 156,548 — — 156,548 Policy loans 63,645 111,040 — — 111,040 Other loans 2,171 2,300 — — 2,300 Derivatives, index options 114,287 114,287 — — 114,287 Life interest in Trust — 12,775 — — 12,775 LIABILITIES Deferred annuity contracts $ 7,546,504 7,178,535 — — 7,178,535 Immediate annuity and supplemental contracts 446,458 474,843 — — 474,843

Derivative Investments (Tables)

Derivative Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The tables below present the fair value of derivative instruments as of June 30, 2015 and December 31, 2014 , respectively. June 30, 2015 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments Equity index options Derivatives, Index Options $ 72,527 Fixed-index products Universal Life and Annuity Contracts $ 88,109 Total $ 72,527 $ 88,109 December 31, 2014 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) (In thousands) Derivatives not designated as hedging instruments Equity index options Derivatives, Index Options $ 114,287 Fixed-index products Universal Life and Annuity Contracts $ 133,236 Total $ 114,287 $ 133,236
Schedule of Derivative Instruments in Condensed Consolidated Statements of Earnings	The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the three months ended June 30, 2015 and 2014 . June 30, June 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ (8,782 ) 45,251 Fixed-index products Universal life and annuity contract interest 8,840 (43,986 ) $ 58 1,265 The table below presents the effect of derivative instruments in the Condensed Consolidated Statements of Earnings for the six months ended June 30, 2015 and 2014 . June 30, June 30, Derivatives Not Designated As Hedging Instruments Location of Gain or (Loss) Recognized In Income on Derivatives Amount of Gain or (Loss) Recognized in Income on Derivatives (In thousands) Equity index options Net investment income $ (17,069 ) 45,799 Fixed-index products Universal life and annuity contract interest 20,436 (44,970 ) $ 3,367 829

Consolidation and Basis of Pr27

Consolidation and Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other net investment gains (losses)	$ 4,365	$ 3,065	$ 5,343	$ 4,613
Earnings before Federal income taxes	42,795	42,858	74,218	72,920
Federal income taxes	13,937	13,675	24,034	23,911
Net earnings	28,858	29,183	50,184	49,009
Unrealized Gains and Losses on Available-for-sale Securities [Member] | Amount Reclassified From Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other net investment gains (losses)	2,961	2,993	3,215	3,682
Net OTTI losses recognized in earnings	(107)	0	(107)	(35)
Earnings before Federal income taxes	2,854	2,993	3,108	3,647
Federal income taxes	999	1,047	1,088	1,276
Net earnings	$ 1,855	$ 1,946	$ 2,020	$ 2,371

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Jun. 30, 2015	Apr. 06, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 20, 2008	Jun. 25, 2004
Class of Stock [Line Items]
Maximum dividend payment which may be paid without prior approval from Colorado Division of Insurance	$ 118,200,000
Common Class A [Member]
Class of Stock [Line Items]
Common stock, par value	$ 1		$ 1	$ 1	$ 1	$ 1
Common Class B [Member]
Class of Stock [Line Items]
Common stock, par value	$ 1		$ 1	$ 1
Newco Merger [Member] | Common Class A [Member]
Class of Stock [Line Items]
Common stock, par value		$ 0.01
Newco Merger [Member] | Common Class B [Member]
Class of Stock [Line Items]
Common stock, par value		$ 0.01

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 28,858	$ 29,183	$ 50,184	$ 49,009
Undistributed income	28,858	29,183	50,184	49,009
Allocation of net income:
Allocation of undistributed income	28,858	29,183	50,184	49,009
Class A [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	28,042	28,358	48,765	47,623
Dividends	0	0	0	0
Undistributed income	28,042	28,358	48,765	47,623
Allocation of net income:
Dividends	0	0	0	0
Allocation of undistributed income	$ 28,042	$ 28,358	$ 48,765	$ 47,623
Denominator:
Basic earnings per share - weighted-average shares (in shares)	3,436	3,435	3,436	3,435
Effect of dilutive stock options (in shares)	1	2	1	2
Diluted earnings per share - adjusted weighted-average shares for assumed conversions (in shares)	3,437	3,437	3,437	3,437
Basic Earnings Per Share (in dollars per share)	$ 8.16	$ 8.26	$ 14.19	$ 13.86
Diluted Earnings Per Share (in dollars per share)	$ 8.16	$ 8.25	$ 14.19	$ 13.86
Class B [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 816	$ 825	$ 1,419	$ 1,386
Dividends	0	0	0	0
Undistributed income	816	825	1,419	1,386
Allocation of net income:
Dividends	0	0	0	0
Allocation of undistributed income	$ 816	$ 825	$ 1,419	$ 1,386
Denominator:
Basic earnings per share - weighted-average shares (in shares)	200	200	200	200
Effect of dilutive stock options (in shares)	0	0	0	0
Diluted earnings per share - adjusted weighted-average shares for assumed conversions (in shares)	200	200	200	200
Basic Earnings Per Share (in dollars per share)	$ 4.08	$ 4.13	$ 7.10	$ 6.93
Diluted Earnings Per Share (in dollars per share)	$ 4.08	$ 4.13	$ 7.10	$ 6.93

Earnings Per Share (Antidilutiv

Earnings Per Share (Antidilutive Securities) (Details) - shares	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities outstanding but not included in the computation of diluted earnings per share	20,800	22,300

Pension and Other Postretirem31

Pension and Other Postretirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2007
Defined Benefit Pension Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Vesting percentage in accrued benefits from plan freeze					100.00%
Service cost	$ 51	$ 42	$ 102	$ 84
Interest cost	246	239	492	479
Expected return on plan assets	(330)	(319)	(660)	(639)
Amortization of prior service cost	1	1	2	2
Amortization of net loss	196	106	392	211
Net periodic benefit cost	164	69	328	137
Minimum required contribution	0		0
Company contributions to plan			0	0
Chairman and President Non-Qualified Defined Benefit Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	64	74	128	147
Interest cost	219	251	438	502
Amortization of prior service cost	15	14	30	29
Amortization of net loss	379	324	757	647
Net periodic benefit cost	677	663	1,353	1,325
Company contributions to plan			900
Company expected contributions to plans in fiscal year			2,000
Defined Benefit Postretirement Healthcare Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	33	27	65	55
Amortization of prior service cost	26	26	52	52
Amortization of net loss	15	(1)	30	(2)
Net periodic benefit cost	$ 74	$ 52	$ 147	$ 105
Minimum [Member] | Chairman and President Non-Qualified Defined Benefit Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Aggregate average annual participant salary increase (as a percentage)			10.00%

Segment and Other Operating I32

Segment and Other Operating Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Selected Condensed Consolidated Balance Sheet Items:
Total segment assets	$ 11,515,294,000	$ 11,096,081,000	$ 11,515,294,000	$ 11,096,081,000	$ 11,351,892,000
Other policyholder liabilities	143,781,000		143,781,000		$ 139,222,000
Condensed Consolidated Income Statements:
Premiums and contract revenues	43,507,000	43,386,000	85,167,000	85,662,000
Net investment income	102,259,000	155,179,000	202,182,000	263,630,000
Other revenues	5,194,000	5,211,000	10,523,000	10,974,000
Realized gains (losses) on investments	4,258,000	3,065,000	5,236,000	4,578,000
Total condensed consolidated premiums and other revenues	155,218,000	206,841,000	303,108,000	364,844,000
Life and other policy benefits	16,120,000	14,796,000	35,386,000	27,759,000
Amortization of deferred acquisition costs	28,070,000	27,258,000	55,722,000	55,837,000
Universal life and annuity contract interest	49,431,000	102,429,000	98,470,000	165,365,000
Other operating expenses	18,802,000	19,500,000	39,312,000	42,963,000
Federal income taxes (benefit)	12,446,000	12,602,000	22,201,000	22,309,000
Taxes on realized gains (losses) on investments	1,491,000	1,073,000	1,833,000	1,602,000
Total condensed consolidated Federal income taxes	13,937,000	13,675,000	24,034,000	23,911,000
Segment earnings (loss)	26,091,000	27,191,000	46,781,000	46,033,000
Realized gains (losses) on investments, net of taxes	2,767,000	1,992,000	3,403,000	2,976,000
Net earnings	28,858,000	29,183,000	50,184,000	49,009,000
Segments [Member]
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	982,454,000	933,673,000	982,454,000	933,673,000
Total segment assets	11,324,301,000	10,924,254,000	11,324,301,000	10,924,254,000
Future policy benefits	9,621,531,000	9,292,785,000	9,621,531,000	9,292,785,000
Other policyholder liabilities	143,781,000	149,714,000	143,781,000	149,714,000
Condensed Consolidated Income Statements:
Premiums and contract revenues	43,507,000	43,386,000	85,167,000	85,662,000
Net investment income	102,259,000	155,179,000	202,182,000	263,630,000
Other revenues	5,194,000	5,211,000	10,523,000	10,974,000
Total condensed consolidated premiums and other revenues	150,960,000	203,776,000	297,872,000	360,266,000
Life and other policy benefits	16,120,000	14,796,000	35,386,000	27,759,000
Amortization of deferred acquisition costs	28,070,000	27,258,000	55,722,000	55,837,000
Universal life and annuity contract interest	49,431,000	102,429,000	98,470,000	165,365,000
Other operating expenses	18,802,000	19,500,000	39,312,000	42,963,000
Federal income taxes (benefit)	12,446,000	12,602,000	22,201,000	22,309,000
Total expenses	124,869,000	176,585,000	251,091,000	314,233,000
Segment earnings (loss)	26,091,000	27,191,000	46,781,000	46,033,000
Segments [Member] | Domestic Life Insurance [Member]
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	70,561,000	57,354,000	70,561,000	57,354,000
Total segment assets	811,768,000	670,565,000	811,768,000	670,565,000
Future policy benefits	702,620,800	581,946,000	702,620,800	581,946,000
Other policyholder liabilities	11,846,000	13,259,000	11,846,000	13,259,000
Condensed Consolidated Income Statements:
Premiums and contract revenues	7,937,000	7,065,000	14,424,000	15,230,000
Net investment income	8,005,000	10,902,000	15,170,000	17,185,000
Other revenues	4,000	3,000	20,000	21,000
Total condensed consolidated premiums and other revenues	15,946,000	17,970,000	29,614,000	32,436,000
Life and other policy benefits	3,882,000	1,423,000	8,995,000	3,915,000
Amortization of deferred acquisition costs	1,698,000	1,780,000	4,879,000	4,180,000
Universal life and annuity contract interest	5,460,000	8,158,000	10,399,000	13,263,000
Other operating expenses	3,442,000	3,992,000	7,157,000	8,271,000
Federal income taxes (benefit)	467,000	851,000	(584,000)	916,000
Total expenses	14,949,000	16,204,000	30,846,000	30,545,000
Segment earnings (loss)	997,000	1,766,000	(1,232,000)	1,891,000
Segments [Member] | International Life Insurance [Member]
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	254,785,000	238,211,000	254,785,000	238,211,000
Total segment assets	1,247,941,000	1,229,589,000	1,247,941,000	1,229,589,000
Future policy benefits	954,684,000	934,791,000	954,684,000	934,791,000
Other policyholder liabilities	16,398,000	12,399,000	16,398,000	12,399,000
Condensed Consolidated Income Statements:
Premiums and contract revenues	29,364,000	29,663,000	59,697,000	58,771,000
Net investment income	8,785,000	16,911,000	17,399,000	27,629,000
Other revenues	(25,000)	60,000	61,000	301,000
Total condensed consolidated premiums and other revenues	38,124,000	46,634,000	77,157,000	86,701,000
Life and other policy benefits	5,587,000	1,668,000	11,792,000	6,703,000
Amortization of deferred acquisition costs	5,163,000	8,808,000	4,513,000	15,553,000
Universal life and annuity contract interest	6,927,000	15,659,000	14,057,000	25,864,000
Other operating expenses	5,212,000	4,835,000	11,134,000	11,860,000
Federal income taxes (benefit)	4,932,000	4,963,000	11,477,000	8,722,000
Total expenses	27,821,000	35,933,000	52,973,000	68,702,000
Segment earnings (loss)	10,303,000	10,701,000	24,184,000	17,999,000
Segments [Member] | Annuities [Member]
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	657,108,000	638,108,000	657,108,000	638,108,000
Total segment assets	9,000,323,000	8,749,666,000	9,000,323,000	8,749,666,000
Future policy benefits	7,964,226,000	7,776,048,000	7,964,226,000	7,776,048,000
Other policyholder liabilities	115,537,000	124,056,000	115,537,000	124,056,000
Condensed Consolidated Income Statements:
Premiums and contract revenues	6,206,000	6,658,000	11,046,000	11,661,000
Net investment income	79,509,000	122,666,000	158,745,000	209,283,000
Other revenues	4,000	3,000	19,000	40,000
Total condensed consolidated premiums and other revenues	85,719,000	129,327,000	169,810,000	220,984,000
Life and other policy benefits	6,651,000	11,705,000	14,599,000	17,141,000
Amortization of deferred acquisition costs	21,209,000	16,670,000	46,330,000	36,104,000
Universal life and annuity contract interest	37,044,000	78,612,000	74,014,000	126,238,000
Other operating expenses	5,434,000	5,824,000	11,612,000	12,920,000
Federal income taxes (benefit)	4,961,000	5,227,000	7,484,000	9,329,000
Total expenses	75,299,000	118,038,000	154,039,000	201,732,000
Segment earnings (loss)	10,420,000	11,289,000	15,771,000	19,252,000
Segments [Member] | All Others [Member]
Selected Condensed Consolidated Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	0	0	0	0
Total segment assets	264,269,000	274,434,000	264,269,000	274,434,000
Future policy benefits	0	0	0	0
Other policyholder liabilities	0	0	0	0
Condensed Consolidated Income Statements:
Premiums and contract revenues	0	0	0	0
Net investment income	5,960,000	4,700,000	10,868,000	9,533,000
Other revenues	5,211,000	5,145,000	10,423,000	10,612,000
Total condensed consolidated premiums and other revenues	11,171,000	9,845,000	21,291,000	20,145,000
Life and other policy benefits	0	0	0	0
Amortization of deferred acquisition costs	0	0	0	0
Universal life and annuity contract interest	0	0	0	0
Other operating expenses	4,714,000	4,849,000	9,409,000	9,912,000
Federal income taxes (benefit)	2,086,000	1,561,000	3,824,000	3,342,000
Total expenses	6,800,000	6,410,000	13,233,000	13,254,000
Segment earnings (loss)	4,371,000	3,435,000	8,058,000	6,891,000
Other unallocated [Member]
Selected Condensed Consolidated Balance Sheet Items:
Total segment assets	$ 190,993,000	$ 171,827,000	$ 190,993,000	$ 171,827,000

Share-Based Payments (General D

Share-Based Payments (General Descriptions) (Details) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)$ / shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)plan$ / shares	Jun. 30, 2014USD ($)	Mar. 31, 2015$ / shares	Dec. 31, 2014$ / shares	Jun. 20, 2008$ / sharesshares	Jun. 25, 2004$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans | plan			2
Expiration period of awards			10 years
Period in force, from which option holders may elect to sell back acquired shares			90 days
Pre-tax compensation cost (benefit) recognized	$ (0.8)	$ 0.8	$ (1.6)	$ 2.5
Compensation cost (benefit), tax expense (benefit)	0.3	$ (0.3)	(0.6)	$ 0.8
Compensation cost related to nonvested options not yet recognized	$ 1.8		$ 1.8
Weighted average period over which the compensation is expected to be recognized			2 years
Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value | $ / shares	$ 1		$ 1		$ 1	$ 1	$ 1	$ 1
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage			20.00%
Requisite service period of awards			1 year
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage			20.00%
Requisite service period of awards			3 years
1995 Plan [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payments, number of shares authorized under plans | shares								300,000
2008 Plan [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payments, number of shares authorized under plans | shares							300,000

Share-Based Payments (Options a

Share-Based Payments (Options and Stock Appreciation Rights Outstanding) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Available For Grant, Beginning Balance	291,000
Shares Available For Grant, Exercised	0
Shares Available For Grant, Forfeited	0
Shares Available For Grant, Expired	0
Shares Available For Grant, Granted	0
Shares Available For Grant, Ending Balance	291,000
Shares/Awards
Balance at January 1, 2015	29,768
Exercised	0
Forfeited	(1,000)
Expired	0
Granted	0
Balance at June 30, 2015	28,768
Weighted-Average Exercise Price (usd per share)
Balance at January 1, 2015	$ 242.48
Exercised	0
Forfeited	255.13
Expired	0
Granted	0
Balance at June 30, 2015	$ 242.04
Compensation cost, liability balance	$ 7.3	$ 7.7
Cash received from exercise of options	0.6	0.6
Total fair value of shares vested	$ 0	0.2
Stock Appreciation Rights [Member]
Shares/Awards
Balance at January 1, 2015	92,186
Exercised	(3,975)
Forfeited	0
Granted	0
Balance at June 30, 2015	88,211
Weighted-Average Exercise Price (usd per share)
Balance at January 1, 2015	$ 157.71
Exercised	143.19
Forfeited	0
Granted	0
Balance at June 30, 2015	$ 158.36
Total intrinsic value of options exercised	$ 0.4	0.7
Total share-based liabilities paid	$ 0.4	$ 0.6

Share-Based Payments (Exercise

Share-Based Payments (Exercise Range) (Details) - Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Thousands	Total
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding	116,979
Number Outstanding, Aggregate intrinsic value	$ 7,408
Number Exercisable	59,236
Options Exercisable, Aggregate intrinsic value	$ 3,703
Closing stock price	$ 239.49
Exercise Price $255.13 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price	255.13
Exercise Price $208.05 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price	$ 208.05
Employee Stock Option [Member] | Exercise Price $255.13 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding	20,768
Weighted- Average Remaining Contractual Life	2 years 9 months 18 days
Number Exercisable	20,768
Employee Stock Option [Member] | Exercise Price $208.05 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding	8,000
Weighted- Average Remaining Contractual Life	3 years
Number Exercisable	8,000
Stock Appreciation Rights [Member] | Exercise Price $236.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price	$ 236
Number Outstanding	250
Weighted- Average Remaining Contractual Life	3 years 1 month 6 days
Number Exercisable	200
Stock Appreciation Rights [Member] | Exercise Price $114.64 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price	$ 114.64
Number Outstanding	23,943
Weighted- Average Remaining Contractual Life	3 years 7 months 6 days
Number Exercisable	19,764
Stock Appreciation Rights [Member] | Exercise Price $132.56 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price	$ 132.56
Number Outstanding	29,518
Weighted- Average Remaining Contractual Life	6 years 6 months
Number Exercisable	8,704
Stock Appreciation Rights [Member] | Exercise Price $210.22 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price	$ 210.22
Number Outstanding	34,500
Weighted- Average Remaining Contractual Life	8 years 4 months 24 days
Number Exercisable	1,800

Share-Based Payments (Black Sch

Share-Based Payments (Black Scholes Option Pricing Model Assumptions) (Details)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	21.14%	19.67%
Expected volatility, maximum	37.77%	37.75%
Expected dividend yield	0.15%	0.13%
Risk-free rate, minimum	0.22%	0.13%
Risk-free rate, maximum	1.54%	1.62%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term of options	2 years 9 months 18 days	3 years 3 months 18 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term of options	8 years 4 months 24 days	9 years
Weighted-average [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, weighted-average	23.96%	22.91%
Risk-free rate, weighted-average	0.52%	0.56%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Oct. 26, 2011	Jun. 30, 2015
Loss Contingencies [Line Items]
Other commitment		$ 2,760,000
Deferred Annuities Litigation [Member]
Loss Contingencies [Line Items]
Life settlement options for policyholders, option 1		10 years
Life settlement options for policyholders, option 2		20 years
Litigation reserve		$ 6,500,000
Brazilian Superintendence of Private Insurance [Member]
Loss Contingencies [Line Items]
Fine SUSEP is attempting to impose on the company	$ 6,000,000,000

Investments (Investment Gains a

Investments (Investment Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Held to maturity debt securities:
Real estate gains (losses)	$ 0	$ 45	$ 0	$ 134
Totals	$ 4,365	3,065	$ 5,343	4,613
Percentage of gains on bonds, due to calls of securities	94.00%		91.00%
Total other-than-temporary impairment gains (losses) on debt securities	$ 105	0	$ 265	(4)
Portion of loss (gain) recognized in comprehensive income	(105)	0	(265)	(3)
Net impairment losses on debt securities recognized in earnings	0	0	0	(7)
Equity securities impairments	(107)	0	(107)	(28)
Net OTTI losses recognized in earnings	(107)	0	(107)	(35)
Non-Credit Other-than-Temporary Impairment, Credit Losses Recognized in Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance, cumulative credit losses related to other-than-temporary impairments	2,278		2,298	2,472	$ 2,472
Reductions for securities sold during current period	0		(20)		(181)
Additions for credit losses not previously recognized in other-than-temporary impairments			0		7
Ending balance, cumulative credit losses related to other-than-temporary impairments	2,278		2,278		$ 2,298
Debt Securities [Member]
Available for sale debt securities:
Realized gains on disposal	2,985	2,985	3,198	3,677
Realized losses on disposal	(65)	(14)	(74)	(22)
Held to maturity debt securities:
Realized gains on disposal	1,404	32	2,128	814
Realized losses on disposal	0	(6)	0	(17)
Equity Securities [Member]
Held to maturity debt securities:
Equity securities realized gains (losses)	$ 41	$ 23	$ 91	$ 27

Investments (Securities Held to

Investments (Securities Held to Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 7,121,439	$ 6,841,543
Gross Unrealized Gains	302,044	357,805
Gross Unrealized Losses	(52,887)	(23,905)
Fair Value	7,370,596	7,175,443
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	1,710,436	183,821
Less than 12 Months, Unrealized Losses	(35,475)	(3,307)
12 Months or Greater, Fair Value	416,430	951,284
12 Months or Greater, Unrealized Losses	(17,412)	(20,598)
Total, Fair Value	2,126,866	1,135,105
Total, Unrealized Losses	(52,887)	(23,905)
U.S. Agencies [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	15,038	10,061
Gross Unrealized Gains	517	705
Gross Unrealized Losses	(137)	0
Fair Value	15,418	10,766
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	4,858
Less than 12 Months, Unrealized Losses	(137)
12 Months or Greater, Fair Value	0
12 Months or Greater, Unrealized Losses	0
Total, Fair Value	4,858
Total, Unrealized Losses	(137)	0
U.S. Treasury [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,923	1,920
Gross Unrealized Gains	369	409
Gross Unrealized Losses	0	0
Fair Value	2,292	2,329
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	0	0
States and Political Subdivisions [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	439,504	432,186
Gross Unrealized Gains	26,535	31,417
Gross Unrealized Losses	(2,536)	(336)
Fair Value	463,503	463,267
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	65,904	0
Less than 12 Months, Unrealized Losses	(1,633)	0
12 Months or Greater, Fair Value	12,567	23,076
12 Months or Greater, Unrealized Losses	(903)	(336)
Total, Fair Value	78,471	23,076
Total, Unrealized Losses	(2,536)	(336)
Foreign Governments [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	0
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	0
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	0
Public Utilities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,010,342	978,847
Gross Unrealized Gains	53,640	67,836
Gross Unrealized Losses	(4,433)	(757)
Fair Value	1,059,549	1,045,926
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	228,627	7,078
Less than 12 Months, Unrealized Losses	(3,727)	(13)
12 Months or Greater, Fair Value	17,802	48,198
12 Months or Greater, Unrealized Losses	(706)	(744)
Total, Fair Value	246,429	55,276
Total, Unrealized Losses	(4,433)	(757)
Corporate [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	4,056,712	3,754,222
Gross Unrealized Gains	153,167	183,650
Gross Unrealized Losses	(37,448)	(18,591)
Fair Value	4,172,431	3,919,281
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	1,176,531	156,839
Less than 12 Months, Unrealized Losses	(25,477)	(2,997)
12 Months or Greater, Fair Value	300,133	698,316
12 Months or Greater, Unrealized Losses	(11,971)	(15,594)
Total, Fair Value	1,476,664	855,155
Total, Unrealized Losses	(37,448)	(18,591)
Mortgage-backed [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,575,798	1,640,582
Gross Unrealized Gains	62,921	68,726
Gross Unrealized Losses	(8,333)	(4,164)
Fair Value	1,630,386	1,705,144
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	234,516	17,698
Less than 12 Months, Unrealized Losses	(4,501)	(240)
12 Months or Greater, Fair Value	85,928	181,694
12 Months or Greater, Unrealized Losses	(3,832)	(3,924)
Total, Fair Value	320,444	199,392
Total, Unrealized Losses	(8,333)	(4,164)
Home Equity [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	18,380	18,886
Gross Unrealized Gains	4,574	4,734
Gross Unrealized Losses	0	(57)
Fair Value	22,954	23,563
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value		2,206
Less than 12 Months, Unrealized Losses		(57)
12 Months or Greater, Fair Value		0
12 Months or Greater, Unrealized Losses		0
Total, Fair Value		2,206
Total, Unrealized Losses	0	(57)
Manufactured Housing [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	3,742	4,839
Gross Unrealized Gains	321	328
Gross Unrealized Losses	0	0
Fair Value	4,063	5,167
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	$ 0	$ 0

Investments (Securities Availab

Investments (Securities Available for Sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Debt securities	$ 2,728,343	$ 2,577,275
Gross Unrealized Gains, Debt securities	118,021	143,234
Gross Unrealized Losses, Debt securities	(22,811)	(9,132)
Fair Value, Debt securities	2,823,553	2,711,377
Amortized Cost, Equity securities		12,799
Gross Unrealized Gains, Equity securities		4,849
Gross Unrealized Losses, Equity securities		(345)
Fair Value, Equity securities		17,303
Amortized Cost	2,740,993	2,590,074
Gross Unrealized Gains	122,658	148,083
Gross Unrealized Losses	(23,062)	(9,477)
Fair Value	2,840,589	2,728,680
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	760,948	100,678
Less than 12 Months, Unrealized Losses	(17,305)	(3,042)
12 Months or Greater, Fair Value	121,207	211,706
12 Months or Greater, Unrealized Losses	(5,757)	(6,435)
Total, Fair Value	882,155	312,384
Total, Unrealized Losses	(23,062)	(9,477)
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	2,823,553	2,711,377
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	757,959	100,373
Less than 12 Months, Unrealized Losses	(17,109)	(2,990)
12 Months or Greater, Fair Value	119,829	207,905
12 Months or Greater, Unrealized Losses	(5,702)	(6,142)
Total, Fair Value	877,788	308,278
Total, Unrealized Losses	(22,811)	(9,132)
States and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Debt securities	588	589
Gross Unrealized Gains, Debt securities	0	0
Gross Unrealized Losses, Debt securities	(53)	(36)
Fair Value, Debt securities	535	553
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Unrealized Losses	0	0
12 Months or Greater, Fair Value	535	553
12 Months or Greater, Unrealized Losses	(53)	(36)
Total, Fair Value	535	553
Total, Unrealized Losses	(53)	(36)
Foreign Governments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Debt securities	9,943	9,939
Gross Unrealized Gains, Debt securities	482	386
Gross Unrealized Losses, Debt securities	0	0
Fair Value, Debt securities	10,425	10,325
Public Utilities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Debt securities	150,042	169,179
Gross Unrealized Gains, Debt securities	8,407	10,163
Gross Unrealized Losses, Debt securities	(480)	(126)
Fair Value, Debt securities	157,969	179,216
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	17,472	0
Less than 12 Months, Unrealized Losses	(480)	0
12 Months or Greater, Fair Value	0	14,827
12 Months or Greater, Unrealized Losses	0	(126)
Total, Fair Value	17,472	14,827
Total, Unrealized Losses	(480)	(126)
Corporate [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Debt securities	2,512,794	2,334,700
Gross Unrealized Gains, Debt securities	105,156	128,280
Gross Unrealized Losses, Debt securities	(22,270)	(8,961)
Fair Value, Debt securities	2,595,680	2,454,019
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	740,487	100,373
Less than 12 Months, Unrealized Losses	(16,629)	(2,990)
12 Months or Greater, Fair Value	114,467	187,699
12 Months or Greater, Unrealized Losses	(5,641)	(5,971)
Total, Fair Value	854,954	288,072
Total, Unrealized Losses	(22,270)	(8,961)
Mortgage-backed [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Debt securities	42,184	48,674
Gross Unrealized Gains, Debt securities	3,734	4,116
Gross Unrealized Losses, Debt securities	0	0
Fair Value, Debt securities	45,918	52,790
Home Equity [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Debt securities	11,381	11,702
Gross Unrealized Gains, Debt securities	199	225
Gross Unrealized Losses, Debt securities	(8)	(9)
Fair Value, Debt securities	11,572	11,918
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Unrealized Losses	0	0
12 Months or Greater, Fair Value	4,827	4,826
12 Months or Greater, Unrealized Losses	(8)	(9)
Total, Fair Value	4,827	4,826
Total, Unrealized Losses	(8)	(9)
Manufactured Housing [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Debt securities	1,411	2,492
Gross Unrealized Gains, Debt securities	43	64
Gross Unrealized Losses, Debt securities	0	0
Fair Value, Debt securities	1,454	2,556
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	17,036	17,303
Equity Public [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Equity securities	12,650
Gross Unrealized Gains, Equity securities	4,637
Gross Unrealized Losses, Equity securities	(251)
Fair Value, Equity securities	17,036
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	2,989	305
Less than 12 Months, Unrealized Losses	(196)	(52)
12 Months or Greater, Fair Value	1,378	3,801
12 Months or Greater, Unrealized Losses	(55)	(293)
Total, Fair Value	4,367	4,106
Total, Unrealized Losses	$ (251)	$ (345)

Investments (Unrealized Losses)

Investments (Unrealized Losses) (Details) - Jun. 30, 2015 $ in Millions	USD ($)security
Asset-Backed Security [Member]
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Securities, other-than-temporarily impaired | $	$ 0.1
Debt Securities [Member]
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Gross unrealized losses, number of issues	364
Gross unrealized losses, percentage of total debt	27.30%
Gross unrealized losses, market value as a percent of amortized cost	97.50%
Gross unrealized losses, number of securities with maturities of 12 months or greater	77
Gross unrealized losses, number of securities with maturities of 12 months or greater (as a percentage)	21.20%
Equity Securities [Member]
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Gross unrealized losses, number of securities rated investment grade	23
External Credit Rating, Investment Grade [Member] | Debt Securities [Member]
Available-for-Sale Securities and Held-to-Maturity Securities [Line Items]
Gross unrealized losses, number of securities rated investment grade	361

Investments (Mortgage Loans and

Investments (Mortgage Loans and Real Estate) (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount		$ 132,911		$ 150,153
Allowance for possible losses, amount		(650)		(650)
Totals, amount	[1]	$ 132,261		$ 149,503
Mortgage loans, percentage		100.00%		100.00%
Allowance for possible losses, percentage		(0.50%)		(0.40%)
Totals, percentage	[1]	99.50%		99.60%
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of period		$ 650	$ 650
Provision		0	0
Releases		0	$ 0
Balance, end of period		650
Less than 50% [Member]
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount		$ 44,743		$ 52,564
Mortgage loans, percentage		33.70%		35.00%
50% to 60% [Member]
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount		$ 44,385		$ 50,553
Mortgage loans, percentage		33.40%		33.70%
60% to 70% [Member]
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount		$ 19,935		$ 14,567
Mortgage loans, percentage		15.00%		9.70%
70% to 80% [Member]
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount		$ 4,291		$ 12,656
Mortgage loans, percentage		3.20%		8.40%
80% to 90% [Member]
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount		$ 19,557		$ 5,399
Mortgage loans, percentage		14.70%		3.60%
Greater than 90% [Member]
Mortgage Loans on Real Estate [Line Items]
Mortgage loan, amount		$ 0		$ 14,414
Mortgage loans, percentage		0.00%		9.60%
Maximum [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Loan to Value Ratio, threshold, percentage		90.00%
Minimum [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Loan to Value Ratio, threshold, percentage		80.00%
[1]	Loan-to-Value Ratio determined using the most recent appraised value.

Fair Value of Financial Instr43

Fair Value of Financial Instruments (Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		$ 2,840,589	$ 2,728,680
Derivatives, index options		72,527	114,287
Total assets		2,913,116	2,842,967
Policyholder account balances	[1]	88,109	133,236
Other liabilities	[2]	7,259	9,256
Total liabilities		$ 95,368	$ 142,492
Percent of total		100.00%	100.00%
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		$ 16,533	$ 16,862
Derivatives, index options		0	0
Total assets		16,533	16,862
Policyholder account balances		0	0
Other liabilities		0	0
Total liabilities		$ 0	$ 0
Percent of total		0.60%	0.60%
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		$ 2,824,056	$ 2,711,818
Derivatives, index options		0	0
Total assets		2,824,056	2,711,818
Policyholder account balances		0	0
Other liabilities		0	0
Total liabilities		$ 0	$ 0
Percent of total		96.90%	95.40%
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		$ 0	$ 0
Derivatives, index options		72,527	114,287
Total assets		72,527	114,287
Policyholder account balances		88,109	133,236
Other liabilities		7,259	9,256
Total liabilities		$ 95,368	$ 142,492
Percent of total		2.50%	4.00%
Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		$ 2,823,553	$ 2,711,377
Debt Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Debt Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		2,823,553	2,711,377
Debt Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		17,036	17,303
Equity Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		16,533	16,862
Equity Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		503	441
Equity Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Derivatives, Index Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		72,527	114,287
Derivatives, Index Options [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		0	0
Derivatives, Index Options [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		0	0
Derivatives, Index Options [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		72,527	114,287
Priced by Third-Party Vendors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		72,527	114,287
Priced by Third-Party Vendors [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		0	0
Priced by Third-Party Vendors [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		0	0
Priced by Third-Party Vendors [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		72,527	114,287
Priced by Third-Party Vendors [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		2,823,553	2,711,377
Priced by Third-Party Vendors [Member] | Debt Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced by Third-Party Vendors [Member] | Debt Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		2,823,553	2,711,377
Priced by Third-Party Vendors [Member] | Debt Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced by Third-Party Vendors [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		17,036	17,303
Priced by Third-Party Vendors [Member] | Equity Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		16,533	16,862
Priced by Third-Party Vendors [Member] | Equity Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		503	441
Priced by Third-Party Vendors [Member] | Equity Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced Internally [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		0	0
Priced Internally [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		0	0
Priced Internally [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		0	0
Priced Internally [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, index options		0	0
Priced Internally [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced Internally [Member] | Debt Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced Internally [Member] | Debt Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced Internally [Member] | Debt Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced Internally [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced Internally [Member] | Equity Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced Internally [Member] | Equity Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		0	0
Priced Internally [Member] | Equity Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale		$ 0	$ 0
[1]	Represents the fair value of certain product-related embedded derivatives that were recorded at fair value.
[2]	Represents the liability for share-based compensation.

Fair Value of Financial Instr44

Fair Value of Financial Instruments (Fair Value Measurements for Level 3 Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	$ 95,987	$ 134,916	$ 114,287	$ 169,314
Total realized and unrealized gains (losses):
Included in net income	(8,782)	45,251	(17,069)	45,799
Included in other comprehensive income	0	0	0	0
Purchases	21,473	18,232	39,929
Sales	0	0	0
Issuances	0	0	0
Settlements	(36,151)	(51,885)	(64,620)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	72,527	146,514	72,527	146,514
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	(11,922)	43,313	(17,830)	44,200
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	119,987	160,536	142,492	193,338
Total realized and unrealized gains (losses):
Included in net income	(9,653)	44,779	(22,036)	$ 47,430
Included in other comprehensive income	0	0	0
Purchases	21,473	18,232	39,929	$ 33,569
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	36,439	52,119	65,017	102,909
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	95,368	171,428	95,368	171,428
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	(813)	1,006	(1,600)	3,091
Debt Securities, Available for Sale [Member]
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	0	0	0	0
Total realized and unrealized gains (losses):
Included in net income	0	0	0	0
Included in other comprehensive income	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	0	0	0	0
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Equity Securities, Available for Sale [Member]
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	0	0	0	0
Total realized and unrealized gains (losses):
Included in net income	0	0	0	0
Included in other comprehensive income	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	0	0	0	0
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Derivatives, Index Options [Member]
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	95,987	134,916	114,287	169,314
Total realized and unrealized gains (losses):
Included in net income	(8,782)	45,251	(17,069)	45,799
Included in other comprehensive income	0	0	0	0
Purchases	21,473	18,232	39,929	33,569
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(36,151)	(51,885)	(64,620)	(102,168)
Transfers into (out of) Level 3	0	0	0	0
Balance at end of period	72,527	146,514	72,527	146,514
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	(11,922)	43,313	(17,830)	44,200
Net Investment Income [Member]
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	(11,922)	43,313	(17,830)	44,200
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Net Investment Income [Member] | Debt Securities, Available for Sale [Member]
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Net Investment Income [Member] | Equity Securities, Available for Sale [Member]
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Net Investment Income [Member] | Derivatives, Index Options [Member]
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	(11,922)	43,313	(17,830)	44,200
Other Operating Income (Expense) [Member]
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	(813)	1,006	(1,600)	3,091
Other Operating Income (Expense) [Member] | Debt Securities, Available for Sale [Member]
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Other Operating Income (Expense) [Member] | Equity Securities, Available for Sale [Member]
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	0	0	0	0
Other Operating Income (Expense) [Member] | Derivatives, Index Options [Member]
Total realized and unrealized gains (losses):
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at the end of the reporting period:	$ 0	$ 0	$ 0	$ 0

Fair Values of Financial Inst45

Fair Values of Financial Instruments (Fair Value by Balance Sheet Grouping) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Securities held to maturity	$ 7,370,596	$ 7,175,443
Securities available for sale	2,840,589	2,728,680
Derivatives, index options	72,527	114,287
Fair Values [Member]
ASSETS
Securities held to maturity	7,370,596	7,175,443
Securities available for sale	2,840,589	2,728,680
Cash and short-term investments	71,710	277,078
Mortgage loans	137,917	156,548
Policy loans	107,914	111,040
Other loans	2,773	2,300
Derivatives, index options	72,527	114,287
Life interest in Libbie Shearn Moody Trust	12,775	12,775
LIABILITIES
Deferred annuity contracts	7,215,118	7,178,535
Immediate annuity and supplemental contracts	467,034	474,843
Carrying Values [Member]
ASSETS
Securities held to maturity	7,121,439	6,841,543
Securities available for sale	2,840,589	2,728,680
Cash and short-term investments	71,710	277,078
Mortgage loans	132,261	149,503
Policy loans	61,933	63,645
Other loans	2,598	2,171
Derivatives, index options	72,527	114,287
Life interest in Libbie Shearn Moody Trust	0	0
LIABILITIES
Deferred annuity contracts	7,597,966	7,546,504
Immediate annuity and supplemental contracts	439,889	446,458
Level 1 [Member]
ASSETS
Securities held to maturity	0	0
Securities available for sale	16,533	16,862
Cash and short-term investments	71,710	277,078
Mortgage loans	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Life interest in Libbie Shearn Moody Trust	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Level 2 [Member]
ASSETS
Securities held to maturity	7,370,596	7,175,443
Securities available for sale	2,824,056	2,711,818
Cash and short-term investments	0	0
Mortgage loans	0	0
Policy loans	0	0
Other loans	0	0
Derivatives, index options	0	0
Life interest in Libbie Shearn Moody Trust	0	0
LIABILITIES
Deferred annuity contracts	0	0
Immediate annuity and supplemental contracts	0	0
Level 3 [Member]
ASSETS
Securities held to maturity	0	0
Securities available for sale	0	0
Cash and short-term investments	0	0
Mortgage loans	137,917	156,548
Policy loans	107,914	111,040
Other loans	2,773	2,300
Derivatives, index options	72,527	114,287
Life interest in Libbie Shearn Moody Trust	12,775	12,775
LIABILITIES
Deferred annuity contracts	7,215,118	7,178,535
Immediate annuity and supplemental contracts	$ 467,034	$ 474,843

Fair Values of Financial Inst46

Fair Values of Financial Instruments (Quantitative Information) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 2,913,116	$ 2,842,967
Financial and Nonfinancial Liabilities, Fair Value Disclosure	95,368	142,492
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	72,527	114,287
Financial and Nonfinancial Liabilities, Fair Value Disclosure	95,368	142,492
Derivatives, Index Options [Member] | Broker Prices [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	72,527	114,287
Other Liabilities [Member] | Black Scholes [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	7,259	9,256
Policyholders Account Balance [Member] | Deterministic Cash Flow [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 88,109	$ 133,236

Derivative Investments (Balance

Derivative Investments (Balance Sheet) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Asset Derivatives		$ 72,527	$ 114,287
Liability Derivatives	[1]	88,109	133,236
Derivatives Not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives		72,527	114,287
Liability Derivatives		88,109	133,236
Derivatives Not Designated as Hedging Instruments [Member] | Equity Index Options [Member] | Derivatives, Index Options [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives		72,527	114,287
Derivatives Not Designated as Hedging Instruments [Member] | Fixed-Index Products [Member] | Universal Life and Annuity Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives		$ 88,109	$ 133,236
[1]	Represents the fair value of certain product-related embedded derivatives that were recorded at fair value.

Derivative Investments (Stateme

Derivative Investments (Statements of Earnings) (Details) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ 58	$ 1,265	$ 3,367	$ 829
Equity Index Options [Member] | Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	(8,782)	45,251	(17,069)	45,799
Fixed-Index Products [Member] | Universal Life and Annuity Contract Interest [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ 8,840	$ (43,986)	$ 20,436	$ (44,970)