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Policyholder Contract Liabilities (Tables)

9 Months Ended

Sep. 30, 2023

Insurance [Abstract]

Schedule of Liability for Future Policy Benefits, by Product Segment

Policyholder Obligations at September 30, 2023 and December 31, 2022 were as follows:

(Dollars in Millions)						Sep 30, 2023						Dec 31, 2022
FHLB Funding Agreements						$	557.4					$	601.0
Universal Life-type Policyholder Account Balances						98.9						100.3
Total						$	656.3					$	701.3

Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank

United Insurance’s liability under the funding agreements with the FHLB of Chicago, the amount of collateral pledged under such agreements and FHLB of Chicago common stock owned by United Insurance at September 30, 2023 and December 31, 2022 is presented below.

(Dollars in Millions)						Sep 30, 2023						Dec 31, 2022
Liability under Funding Agreements						$	557.4					$	601.0
Fair Value of Collateral Pledged						619.1						744.6
FHLB of Chicago Common Stock Owned at Cost						16.6						17.5

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Tabular disclosure of advances by federal home loan bank by branch.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.13,16)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 470
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480876/942-470-45-1

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-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

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The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range.

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