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Postretirement Benefits | 9 Months Ended
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Sep. 30, 2025
Retirement Benefits [Abstract] |
Postretirement Benefits | Note 9—Postretirement Benefits Globe Life has qualified noncontributory defined benefit pension plans (Pension Plans) and contributory savings plans that cover substantially all employees. There is also a nonqualified noncontributory supplemental executive retirement plan (SERP) that covers a limited number of officers. The tables included herein will focus on the Pension Plans and SERP. Pension Assets: The following table presents the assets of the Company's Pension Plans at September 30, 2025 and December 31, 2024. Pension Assets by Component at September 30, 2025
| Fair Value Determined by: |  |  |  |
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Amount |  | % of Total
Exchange traded fund(4) | $ | 54,705 |  |  | $ | — |  |  | $ | — |  |  | $ | 54,705 |  |  | 8 |
Equity exchange traded fund(1) | 345,494 |  |  | — |  |  | — |  |  | 345,494 |  |  | 51 |
U.S. Government and Agency | — |  |  | 185,818 |  |  | — |  |  | 185,818 |  |  | 27 |
Other bonds | — |  |  | 3 |  |  | — |  |  | 3 |  |  | — |
Guaranteed annuity contract(2) | — |  |  | 46,245 |  |  | — |  |  | 46,245 |  |  | 7 |
Short-term investments | 3,322 |  |  | — |  |  | — |  |  | 3,322 |  |  | 1 |
Other | 341 |  |  | — |  |  | — |  |  | 341 |  |  | — |
| $ | 403,862 |  |  | $ | 232,066 |  |  | $ | — |  |  | 635,928 |  |  | 94 |
Other long-term investments(3) |  | 41,869 |  |  | 6 |
Total pension assets |  | $ | 677,797 |  |  | 100 |
(1)A fund including marketable securities that mirror the S&P 500 index. (2)Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Collective Bargaining Agreement Employees Pension Plan. (3)Includes non-redeemable investment funds that report the Globe Life Inc. Pension Plan's pro-rata share of the limited partnership's net asset value (NAV) per share, or its equivalent, as a practical expedient for fair value. As of September 30, 2025, the Globe Life Inc. Pension Plan owned less than 1% of two long-term investment funds. (4)A fund including U.S. dollar-denominated investment-grade securities issued by industrial, utility, and financial companies with maturities greater than 10 years. Pension Assets by Component at December 31, 2024
| Fair Value Determined by: |  |  |  |
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Amount |  | % of Total
Exchange traded fund(4) | $ | 35,483 |  |  | $ | — |  |  | $ | — |  |  | $ | 35,483 |  |  | 6 |
Equity exchange traded fund(1) | 322,846 |  |  | — |  |  | — |  |  | 322,846 |  |  | 53 |
U.S. Government and Agency | — |  |  | 179,418 |  |  | — |  |  | 179,418 |  |  | 29 |
Other bonds | — |  |  | 4 |  |  | — |  |  | 4 |  |  | — |
Guaranteed annuity contract(2) | — |  |  | 43,893 |  |  | — |  |  | 43,893 |  |  | 7 |
Short-term investments | 1,235 |  |  | — |  |  | — |  |  | 1,235 |  |  | — |
Other | 1,420 |  |  | — |  |  | — |  |  | 1,420 |  |  | — |
| $ | 360,984 |  |  | $ | 223,315 |  |  | $ | — |  |  | 584,299 |  |  | 95 |
Other long-term investments(3) |  | 30,546 |  |  | 5 |
Total pension assets |  | $ | 614,845 |  |  | 100 |
(1)A fund including marketable securities that mirror the S&P 500 index. (2)Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Collective Bargaining Agreement Employees Pension Plan. (3)Includes non-redeemable investment funds that report the Globe Life Inc. Pension Plan's pro-rata share of the limited partnership's net asset value (NAV) per share, or its equivalent, as a practical expedient for fair value. As of December 31, 2024, the Globe Life Inc. Pension Plan owned less than 1% of two long-term investment funds. (4)A fund including U.S. dollar-denominated investment-grade securities issued by industrial, utility, and financial companies with maturities greater than 10 years. SERP: The following tables include premiums paid for COLI at September 30, 2025 and 2024 and investments of the Rabbi Trust at September 30, 2025 and December 31, 2024.
| Nine Months Ended September 30,
| 2025 |  | 2024
Premiums paid for insurance coverage | $ | — |  |  | $ | 443 |
| September 30, 2025 |  | December 31, 2024
Total investments: |  |  |
COLI | $ | 58,505 |  |  | $ | 57,210 |
Exchange traded funds | 107,804 |  |  | 98,314 |
| $ | 166,309 |  |  | $ | 155,524 |
Pension Plans and SERP Liabilities: The following table presents liabilities for the defined benefit pension plans and SERP at September 30, 2025 and December 31, 2024.
| September 30, 2025 |  | December 31, 2024
Pension Plans | $ | 609,230 |  |  | $ | 561,615 |
SERP | 74,167 |  |  | 73,441 |
Benefit obligation | $ | 683,397 |  |  | $ | 635,056 |
Net Periodic Benefit Cost: The following table presents the net periodic benefit costs for the defined benefit pension plans and SERP by expense components for the three and nine month periods ended September 30, 2025 and 2024. Components of Net Periodic Benefit Cost
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Service cost—benefits earned during the period | $ | 6,245 |  |  | $ | 6,224 |  |  | $ | 18,730 |  |  | $ | 18,673 |
Interest cost on projected benefit obligation | 9,024 |  |  | 8,287 |  |  | 27,073 |  |  | 24,862 |
Expected return on assets | (11,563) |  |  | (10,645) |  |  | (34,689) |  |  | (31,938) |
Amortization: |  |  |  |  |  |  |
Prior service cost | 292 |  |  | 265 |  |  | 876 |  |  | 803 |
Actuarial (gain) loss | — |  |  | 6 |  |  | — |  |  | 18 |
Net periodic benefit cost | $ | 3,998 |  |  | $ | 4,137 |  |  | $ | 11,990 |  |  | $ | 12,418 |

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