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Future Policy Benefits | 6 Months Ended
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Jun. 30, 2025
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract] |
Future Policy Benefits | (11) Future Policy Benefits The following tables summarize balances and changes in the present value of expected net premiums and the present value of expected future policy benefits underlying the LFPB:
|  | Six months ended |  |  | Year ended |
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | (Dollars in thousands) |
Present Value of Expected Net Premiums |  | Term Life Insurance |
Balance at then current discount rate, beginning of period |  | $ | 13,854,794 |  |  | $ | 13,977,353 |
Balance at original discount rate, beginning of period |  |  | 14,233,996 |  |  |  | 14,012,553 |
Effect of changes in cash flow assumptions |  |  | - |  |  |  | (74,233 | )
Effect of actual variances from expected experience |  |  | (221,771 | ) |  |  | (373,646 | )
Adjusted balance, beginning of period |  |  | 14,012,225 |  |  |  | 13,564,674 |
Issuances |  |  | 931,555 |  |  |  | 1,884,054 |
Interest accrual at original discount rate |  |  | 314,588 |  |  |  | 608,588 |
Net premiums collected |  |  | (882,397 | ) |  |  | (1,733,262 | )
Foreign currency translation |  |  | 56,193 |  |  |  | (90,058 | )
Expected net premiums at original discount rate, end of period |  |  | 14,432,164 |  |  |  | 14,233,996 |
Effect of changes in discount rate assumptions |  |  | (129,596 | ) |  |  | (379,202 | )
Expected net premiums at then current discount rate, end of period |  | $ | 14,302,568 |  |  | $ | 13,854,794 |
Present Value of Expected Future Policy Benefits |  |  |  |  |  |
Balance at then current discount rate, beginning of period |  | $ | 20,155,487 |  |  | $ | 20,508,435 |
Balance at original discount rate, beginning of period |  |  | 20,763,900 |  |  |  | 20,391,694 |
Effect of changes in cash flow assumptions |  |  | - |  |  |  | (83,975 | )
Effect of actual variances from expected experience |  |  | (231,573 | ) |  |  | (386,512 | )
Adjusted balance, beginning of period |  |  | 20,532,327 |  |  |  | 19,921,207 |
Issuances |  |  | 937,242 |  |  |  | 1,892,529 |
Interest accrual at original discount rate |  |  | 479,202 |  |  |  | 929,078 |
Benefit payments |  |  | (948,856 | ) |  |  | (1,841,162 | )
Foreign currency translation |  |  | 85,479 |  |  |  | (137,752 | )
Expected future policy benefits at original discount rate, end of period |  |  | 21,085,394 |  |  |  | 20,763,900 |
Effect of changes in discount rate assumptions |  |  | (266,692 | ) |  |  | (608,413 | )
Expected future policy benefits at then current discount rate, end of period |  | $ | 20,818,702 |  |  | $ | 20,155,487 |
LFPB |  | $ | 6,516,134 |  |  | $ | 6,300,693 |
Less: reinsurance recoverables |  |  | 2,683,481 |  |  |  | 2,729,022 |
Net LFPB, after reinsurance recoverables |  | $ | 3,832,653 |  |  | $ | 3,571,671 |
Weighted-average duration of net LFPB (in years) |  |  | 8.1 |  |  |  | 8.0 |
The following table reconciles the LFPB to the unaudited condensed consolidated balance sheets:
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Term Life Insurance |  | $ | 6,516,134 |  |  | $ | 6,300,693 |
Other |  |  | 202,910 |  |  |  | 202,371 |
Total |  | $ | 6,719,044 |  |  | $ | 6,503,064 |
The following table reconciles the reinsurance recoverables to the unaudited condensed consolidated balance sheets:
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | (In thousands) |
Term Life Insurance |  | $ | 2,683,481 |  |  | $ | 2,729,022 |
Other |  |  | 14,663 |  |  |  | 15,143 |
Total |  | $ | 2,698,144 |  |  | $ | 2,744,165 |
There were no changes to the inputs, judgments, assumptions, or methods used in measuring the LFPB during the three and six months ended June 30, 2025 and 2024. Losses recognized as a result of capping the net premium ratio at 100% were immaterial during the three and six months ended June 30, 2025 and 2024. The amount of discounted (using the then current discount rate) and undiscounted expected gross premiums and expected future benefit payments were as follows:
| June 30, 2025 |  |  | December 31, 2024 |
| (In thousands) |
Term Life Insurance |  |
| Undiscounted |  |  | Discounted |  |  | Undiscounted |  |  | Discounted |
Expected future benefit payments | $ | 34,624,556 |  |  | $ | 20,818,702 |  |  | $ | 33,966,483 |  |  | $ | 20,155,489 |
Expected future gross premiums | $ | 40,073,448 |  |  | $ | 27,260,908 |  |  | $ | 39,389,917 |  |  | $ | 26,414,010 |
The amount of revenue and interest recognized in our unaudited condensed consolidated statements of income were as follows:
| Three months ended June 30, |  |  | Six months ended June 30, |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
| (In thousands) |
Term Life Insurance |  |  |  |  |
Gross premiums | $ | 861,919 |  |  | $ | 840,668 |  |  | $ | 1,716,350 |  |  | $ | 1,676,989 |
Interest accretion (expense) | $ | (82,616 | ) |  | $ | (81,252 | ) |  | $ | (164,614 | ) |  | $ | (158,845 | )
The weighted-average discount rates were as follows:
| June 30, 2025 |  |  | December 31, 2024 |
Term Life Insurance |  |  |  |  |
Original discount rate |  | 4.99 | % |  |  | 4.95 | %
Current discount rate |  | 5.78 | % |  |  | 5.69 | %
There were no changes to the methods used to determine the discount rates during the six months ended June 30, 2025 and the twelve months ended December 31, 2024.

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- Definition Liability for future policy benefit. + References No definition available. + Details
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Namespace Prefix: | pri_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
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Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
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