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v3.23.1

Policyholders' Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2023
Insurance [Abstract] |
Liability for Future Policy Benefit, Activity | The following tables summarize balances of and changes in the liability for future policy benefits for our reporting cohorts: Permanent, which summarizes insurance policies with premiums payable over the lifetime of the policy, and Permanent Limited Pay, which summarizes insurance policies with premiums payable for a limited time after which the policy is fully paid up. Both reporting cohorts include whole life and endowment policies.
| Life Insurance Segment
March 31, 2023 (In thousands) | Permanent | Permanent Limited Pay |  | Total
Present Value of Expected Net Premiums |  |  |  |
Balance, beginning of year | $ | 235,228 |  | 10,209 |  |  | 245,437 |
Beginning balance at original discount rate | 247,601 |  | 10,682 |  |  | 258,283 |
Effects of actual variances from expected experience | 1,742 |  | 365 |  |  | 2,107 |
Adjusted beginning of year balance | 249,343 |  | 11,047 |  |  | 260,390 |
Issuances | 6,236 |  | 759 |  |  | 6,995 |
Interest accrual | 2,272 |  | 72 |  |  | 2,344 |
Net premiums collected | (9,715) |  | (751) |  |  | (10,466) |
Derecognition and other | 153 |  | 38 |  |  | 191 |
Ending balance at original discount rate | 248,289 |  | 11,165 |  |  | 259,454 |
Effect of changes in discount rates | (8,766) |  | (370) |  |  | (9,136) |
Balance, end of period | $ | 239,523 |  | 10,795 |  |  | 250,318 |
Present Value of Expected Future Policy Benefits |  |  |  |
Balance, beginning of year | $ | 947,415 |  | 195,612 |  |  | 1,143,027 |
Beginning balance at original discount rate | 996,169 |  | 208,051 |  |  | 1,204,220 |
Effects of actual variances from expected experience | 2,538 |  | 1,045 |  |  | 3,583 |
Adjusted beginning of year balance | 998,707 |  | 209,096 |  |  | 1,207,803 |
Issuances | 6,375 |  | 785 |  |  | 7,160 |
Interest accrual | 10,842 |  | 2,112 |  |  | 12,954 |
Benefit payments | (19,153) |  | (4,873) |  |  | (24,026) |
Derecognition and other | 14 |  | 12 |  |  | 26 |
Ending balance at original discount rate | 996,785 |  | 207,132 |  |  | 1,203,917 |
Effect of changes in discount rates | (31,065) |  | (9,459) |  |  | (40,524) |
Balance, end of period | $ | 965,720 |  | 197,673 |  |  | 1,163,393 |
Net liability for future policy benefits | $ | 726,197 |  | 186,878 |  |  | 913,075 |
| Home Service Insurance
March 31, 2023 (In thousands) | Permanent | Permanent Limited Pay |  | Total
Present Value of Expected Net Premiums |  |  |  |
Balance, beginning of year | $ | 93,508 |  | 13,255 |  |  | 106,763 |
Beginning balance at original discount rate | 100,225 |  | 14,394 |  |  | 114,619 |
Effects of actual variances from expected experience | (1,371) |  | (809) |  |  | (2,180) |
Adjusted beginning of year balance | 98,854 |  | 13,585 |  |  | 112,439 |
Issuances | 4,789 |  | 1,176 |  |  | 5,965 |
Interest accrual | 986 |  | 114 |  |  | 1,100 |
Net premiums collected | (2,967) |  | 467 |  |  | (2,500) |
Derecognition and other | 132 |  | 46 |  |  | 178 |
Ending balance at original discount rate | 101,794 |  | 15,388 |  |  | 117,182 |
Effect of changes in discount rates | (4,925) |  | (873) |  |  | (5,798) |
Balance, end of period | $ | 96,869 |  | 14,515 |  |  | 111,384 |
Present Value of Expected Future Policy Benefits |  |  |  |
Balance, beginning of year | $ | 200,351 |  | 116,356 |  |  | 316,707 |
Beginning balance at original discount rate | 214,188 |  | 121,908 |  |  | 336,096 |
Effects of actual variances from expected experience | (1,299) |  | 25 |  |  | (1,274) |
Adjusted beginning of year balance | 212,889 |  | 121,933 |  |  | 334,822 |
Issuances | 4,789 |  | 1,176 |  |  | 5,965 |
Interest accrual | 2,310 |  | 1,410 |  |  | 3,720 |
Benefit payments | (4,178) |  | (1,748) |  |  | (5,926) |
Derecognition and other | 132 |  | 45 |  |  | 177 |
Ending balance at original discount rate | 215,942 |  | 122,816 |  |  | 338,758 |
Effect of changes in discount rates | (10,101) |  | (3,712) |  |  | (13,813) |
Balance, end of period | $ | 205,841 |  | 119,104 |  |  | 324,945 |
Net liability for future policy benefits | $ | 108,972 |  | 104,589 |  |  | 213,561 |
| Life Insurance
March 31, 2022 (In thousands) | Permanent | Permanent Limited Pay |  | Total
Present Value of Expected Net Premiums |  |  |  |
Balance, beginning of year | $ | 269,528 |  | 4,939 |  |  | 274,467 |
Beginning balance at original discount rate | 246,386 |  | 5,093 |  |  | 251,479 |
Effects of actual variances from expected experience | 1,693 |  | 422 |  |  | 2,115 |
Adjusted beginning of year balance | 248,079 |  | 5,515 |  |  | 253,594 |
Issuances | 5,795 |  | 1,121 |  |  | 6,916 |
Interest accrual | 2,088 |  | (2) |  |  | 2,086 |
Net premiums collected | (9,166) |  | 133 |  |  | (9,033) |
Derecognition and other | 57 |  | 24 |  |  | 81 |
Ending balance at original discount rate | 246,853 |  | 6,791 |  |  | 253,644 |
Effect of changes in discount rates | 6,040 |  | (291) |  |  | 5,749 |
Balance, end of period | $ | 252,893 |  | 6,500 |  |  | 259,393 |
Present Value of Expected Future Policy Benefits |  |  |  |
Balance, beginning of year | $ | 1,168,282 |  | 240,679 |  |  | 1,408,961 |
Beginning balance at original discount rate | 990,921 |  | 207,105 |  |  | 1,198,026 |
Effects of actual variances from expected experience | 1,998 |  | 1,407 |  |  | 3,405 |
Adjusted beginning of year balance | 992,919 |  | 208,512 |  |  | 1,201,431 |
Issuances | 5,863 |  | 1,141 |  |  | 7,004 |
Interest accrual | 10,658 |  | 2,125 |  |  | 12,783 |
Benefit payments | (17,715) |  | (3,918) |  |  | (21,633) |
Derecognition and other | (10) |  | 4 |  |  | (6) |
Ending balance at original discount rate | 991,715 |  | 207,864 |  |  | 1,199,579 |
Effect of changes in discount rates | 72,720 |  | 12,917 |  |  | 85,637 |
Balance, end of period | $ | 1,064,435 |  | 220,781 |  |  | 1,285,216 |
Net liability for future policy benefits | $ | 811,542 |  | 214,281 |  |  | 1,025,823 |
| Home Service Insurance
March 31, 2022 (In thousands) | Permanent | Permanent Limited Pay |  | Total
Present Value of Expected Net Premiums |  |  |  |
Balance, beginning of year | $ | 104,556 |  | 10,196 |  |  | 114,752 |
Beginning balance at original discount rate | 90,012 |  | 9,532 |  |  | 99,544 |
Effects of actual variances from expected experience | 876 |  | (1,083) |  |  | (207) |
Adjusted beginning of year balance | 90,888 |  | 8,449 |  |  | 99,337 |
Issuances | 4,349 |  | 711 |  |  | 5,060 |
Interest accrual | 822 |  | 43 |  |  | 865 |
Net premiums collected | (2,723) |  | 1,610 |  |  | (1,113) |
Derecognition and other | (1,113) |  | 24 |  |  | (1,089) |
Ending balance at original discount rate | 92,223 |  | 10,837 |  |  | 103,060 |
Effect of changes in discount rates | 5,130 |  | (112) |  |  | 5,018 |
Balance, end of period | $ | 97,353 |  | 10,725 |  |  | 108,078 |
Present Value of Expected Future Policy Benefits |  |  |  |
Balance, beginning of year | $ | 266,206 |  | 161,715 |  |  | 427,921 |
Beginning balance at original discount rate | 205,340 |  | 117,425 |  |  | 322,765 |
Effects of actual variances from expected experience | 1,090 |  | 625 |  |  | 1,715 |
Adjusted beginning of year balance | 206,430 |  | 118,050 |  |  | 324,480 |
Issuances | 4,350 |  | 708 |  |  | 5,058 |
Interest accrual | 2,164 |  | 1,349 |  |  | 3,513 |
Benefit payments | (5,832) |  | (2,057) |  |  | (7,889) |
Derecognition and other | (1,114) |  | 24 |  |  | (1,090) |
Ending balance at original discount rate | 205,998 |  | 118,074 |  |  | 324,072 |
Effect of changes in discount rates | 28,342 |  | 23,076 |  |  | 51,418 |
Balance, end of period | $ | 234,340 |  | 141,150 |  |  | 375,490 |
Net liability for future policy benefits | $ | 136,987 |  | 130,425 |  |  | 267,412 |
The following table reconciles the net liability for future policy benefits shown above to the liability for future policy benefits in the consolidated balance sheet.
| March 31, 2023 |  | March 31, 2022
(In thousands) | Life Insurance | Home Service Insurance | Consolidated |  | Life Insurance | Home Service Insurance | Consolidated
Life Insurance |  |  |  |  |  |  |
Permanent | $ | 726,197 |  | 108,972 |  | 835,169 |  |  | 811,542 |  | 136,987 |  | 948,529 |
Permanent limited pay | 186,878 |  | 104,589 |  | 291,467 |  |  | 214,281 |  | 130,425 |  | 344,706 |
Deferred profit liability | 26,347 |  | 25,113 |  | 51,460 |  |  | 23,042 |  | 22,502 |  | 45,544 |
Other | 26,474 |  | 13,725 |  | 40,199 |  |  | 27,918 |  | 13,403 |  | 41,321 |
Total life insurance | 965,896 |  | 252,399 |  | 1,218,295 |  |  | 1,076,783 |  | 303,317 |  | 1,380,100 |
Accident & Health |  |  |  |  |  |  |
Other | 599 |  | 249 |  | 848 |  |  | 521 |  | 245 |  | 766 |
Total | $ | 966,495 |  | 252,648 |  | 1,219,143 |  |  | 1,077,304 |  | 303,562 |  | 1,380,866 |
The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefit payments for long-term duration contracts.
As of March 31, | 2023 |  | 2022
(In thousands) | Life Insurance |  | Home Service Insurance |  | Life Insurance |  | Home Service Insurance
Undiscounted: |  |  |  |  |  |  |
Permanent |  |  |  |  |  |  |
Expected future gross premiums | 607,319 |  |  | 463,491 |  |  | 623,969 |  |  | 459,627 |
Expected future benefit payments | $ | 1,478,777 |  |  | 478,978 |  |  | 1,468,066 |  |  | 453,855 |
Permanent Limited Pay |  |  |  |  |  |  |
Expected future gross premiums | 46,845 |  |  | 77,743 |  |  | 47,904 |  |  | 65,371 |
Expected future benefit payments | 321,985 |  |  | 319,390 |  |  | 322,955 |  |  | 304,278 |
Discounted: |  |  |  |  |  |  |
Permanent |  |  |  |  |  |  |
Expected future gross premiums | 474,777 |  |  | 277,098 |  |  | 523,290 |  |  | 308,271 |
Expected future benefit payments | $ | 965,720 |  |  | 205,841 |  |  | 1,064,435 |  |  | 234,340 |
Permanent Limited Pay |  |  |  |  |  |  |
Expected future gross premiums | 41,719 |  |  | 54,170 |  |  | 44,202 |  |  | 53,038 |
Expected future benefit payments | 197,673 |  |  | 119,104 |  |  | 220,781 |  |  | 141,150 |
The following tables summarize the amount of revenue and interest related to long-term duration contracts recognized in the consolidated statement of operations:
| Life Insurance |  | Home Service Insurance
Three Months Ended March 31, 2023 (In thousands) | Gross Premiums | Interest Expense |  | Gross Premiums | Interest Expense
Life Insurance |  |  |  |  |
Permanent | $ | 22,458 |  | 8,570 |  |  | 8,372 |  | 1,324 |
Permanent Limited Pay | 4,168 |  | 2,336 |  |  | 2,154 |  | 1,586 |
Other | 77 |  | — |  |  | 368 |  | — |
Reinsurance | (648) |  | — |  |  | (15) |  | — |
Total, net of reinsurance | 26,055 |  | 10,906 |  |  | 10,879 |  | 2,910 |
Accident & Health |  |  |  |  |
Other | 152 |  | — |  |  | 206 |  | — |
Reinsurance | — |  | — |  |  | — |  | — |
Total, net of reinsurance | 152 |  | — |  |  | 206 |  | — |
Total | $ | 26,207 |  | 10,906 |  |  | 11,085 |  | 2,910 |
| Life Insurance |  | Home Service Insurance
Three Months Ended March 31, 2022 (In thousands) | Gross Premiums | Interest Expense |  | Gross Premiums | Interest Expense
Life Insurance |  |  |  |  |
Permanent | $ | 22,257 |  | 8,570 |  |  | 8,456 |  | 1,342 |
Permanent Limited Pay | 3,656 |  | 2,350 |  |  | 2,041 |  | 1,559 |
Other | 1,425 |  | — |  |  | — |  | — |
Reinsurance | (500) |  | — |  |  | (14) |  | — |
Total, net of reinsurance | 26,838 |  | 10,920 |  |  | 10,483 |  | 2,901 |
Accident & Health |  |  |  |  |
Other | 94 |  | — |  |  | 193 |  | — |
Reinsurance | (1) |  | — |  |  | — |  | — |
Total, net of reinsurance | 93 |  | — |  |  | 193 |  | — |
Total | $ | 26,931 |  | 10,920 |  |  | 10,676 |  | 2,901 |
The following table provides the weighted-average durations of the liability for future policy benefits.
| March 31, 2023 |  | March 31, 2022
(In years) | Life Insurance | Home Service Insurance |  | Life Insurance | Home Service Insurance
Permanent |  |  |  |  |
Original duration | 8.1 | 15.9 |  | 8.8 | 16.0
Current duration | 8.4 | 16.1 |  | 9.1 | 16.3
Permanent Limited Pay |  |  |  |  |
Original duration | 7.6 | 14.5 |  | 8.0 | 15.2
Current duration | 7.6 | 15.2 |  | 8.4 | 17.5
The following table provides the weighted-average interest rates for the liability for future policy benefits.
| March 31, 2023 |  | March 31, 2022
(In thousands) | Life Insurance | Home Service Insurance |  | Life Insurance | Home Service Insurance
Permanent |  |  |  |  |
Original discount rate | 4.92 | % | 4.99 | % |  | 4.93 | % | 5.01 | %
Current discount rate | 4.86 | % | 5.09 | % |  | 3.43 | % | 3.68 | %
Permanent Limited Pay |  |  |  |  |
Original discount rate | 4.30 | % | 5.05 | % |  | 4.33 | % | 5.06 | %
Current discount rate | 4.85 | % | 5.08 | % |  | 3.38 | % | 3.67 | %
Policyholder Account Balance, Guaranteed Minimum Crediting Rate | The following table presents the policyholders' account balances by range of guaranteed minimum crediting rates and the related range of the difference, in basis points, between rates being credited and the respective guaranteed minimums.
March 31, 2023 | At Guaranteed Minimum | 1 Basis Point-50 Basis Points Above | 51 Basis Points-150 Basis Points Above | Greater Than 150 Basis Points Above | Total
(In thousands) | Range of Guaranteed Minimum Crediting Rate
Life Insurance: |  |  |  |  |  |
SCWOLC (1) | 0.00% - 1.49% | $ | — |  | — |  | — |  | — |  | — |
1.50% - 2.99% | 1,452 |  | — |  | — |  | — |  | 1,452 |
3.00% - 4.49% | 33,940 |  | — |  | — |  | — |  | 33,940 |
Greater or equal to 4.50% | 134 |  | — |  | — |  | — |  | 134 |
Total | $ | 35,526 |  | — |  | — |  | — |  | 35,526 |
Fixed annuity | 0.00% - 1.49% | $ | 197 |  | — |  | 1,144 |  | — |  | 1,341 |
1.50% - 2.99% | 13,078 |  | — |  | 59 |  | — |  | 13,137 |
3.00% - 4.49% | 21,568 |  | 10 |  | — |  | — |  | 21,578 |
Greater or equal to 4.50% | 30,944 |  | — |  | — |  | — |  | 30,944 |
Total | $ | 65,787 |  | 10 |  | 1,203 |  | — |  | 67,000 |
Dividend accumulations | 0.00% - 1.49% | $ | 239 |  | — |  | — |  | 3,499 |  | 3,738 |
1.50% - 2.99% | 11,144 |  | 551 |  | 7 |  | — |  | 11,702 |
3.00% - 4.49% | 26,985 |  | — |  | — |  | — |  | 26,985 |
Greater or equal to 4.50% | 3 |  | — |  | — |  | — |  | 3 |
Total | $ | 38,371 |  | 551 |  | 7 |  | 3,499 |  | 42,428 |
Premiums paid in advance | 0.00% - 1.49% | $ | — |  | — |  | — |  | 34,122 |  | 34,122 |
1.50% - 2.99% | — |  | — |  | — |  | — |  | — |
3.00% - 4.49% | — |  | — |  | — |  | — |  | — |
Greater or equal to 4.50% | — |  | — |  | — |  | — |  | — |
Total | $ | — |  | — |  | — |  | 34,122 |  | 34,122 |
Home Service Insurance: |  |  |  |  |
SCWOLC (1) | 0.00% - 1.49% | $ | 4 |  | — |  | — |  | — |  | 4 |
1.50% - 2.99% | 250 |  | — |  | — |  | — |  | 250 |
3.00% - 4.49% | 55 |  | — |  | — |  | — |  | 55 |
Greater or equal to 4.50% | — |  | — |  | — |  | — |  | — |
Total | $ | 309 |  | — |  | — |  | — |  | 309 |
Fixed annuity | 0.00% - 1.49% | $ | 296 |  | — |  | — |  | 392 |  | 688 |
1.50% - 2.99% | — |  | — |  | — |  | — |  | — |
3.00% - 4.49% | 18,696 |  | — |  | — |  | — |  | 18,696 |
Greater or equal to 4.50% | 777 |  | — |  | — |  | — |  | 777 |
Total | $ | 19,769 |  | — |  | — |  | 392 |  | 20,161 |
Dividend accumulations | 0.00% - 1.49% | $ | — |  | — |  | — |  | 173 |  | 173 |
1.50% - 2.99% | 5 |  | 42 |  | — |  | — |  | 47 |
3.00% - 4.49% | 20 |  | — |  | — |  | — |  | 20 |
Greater or equal to 4.50% | — |  | — |  | — |  | — |  | — |
Total | $ | 25 |  | 42 |  | — |  | 173 |  | 240 |
(1) Supplemental Contracts Without Life Contingencies
March 31, 2022 |  | At Guaranteed Minimum | 1 Basis Point-50 Basis Points Above | 51 Basis Points-150 Basis Points Above | Greater Than 150 Basis Points Above | Total
(In thousands) | Range of Guaranteed Minimum Crediting Rate
Life Insurance: |  |  |  |  |  |
SCWOLC (1) | 0.00% - 1.49% | $ | — |  | — |  | — |  | — |  | — |
1.50% - 2.99% | 256 |  | — |  | — |  | — |  | 256 |
3.00% - 4.49% | 24,862 |  | — |  | — |  | — |  | 24,862 |
Greater or equal to 4.50% | 145 |  | — |  | — |  | — |  | 145 |
Total | $ | 25,263 |  | — |  | — |  | — |  | 25,263 |
Fixed annuity | 0.00% - 1.49% | $ | 203 |  | — |  | 813 |  | — |  | 1,016 |
1.50% - 2.99% | 10,584 |  | — |  | 12 |  | — |  | 10,596 |
3.00% - 4.49% | 21,976 |  | 9 |  | — |  | — |  | 21,985 |
Greater or equal to 4.50% | 30,662 |  | — |  | — |  | — |  | 30,662 |
Total | $ | 63,425 |  | 9 |  | 825 |  | — |  | 64,259 |
Dividend accumulations | 0.00% - 1.49% | $ | 250 |  | — |  | — |  | 3,529 |  | 3,779 |
1.50% - 2.99% | 8,501 |  | 533 |  | 11 |  | — |  | 9,045 |
3.00% - 4.49% | 25,507 |  | — |  | — |  | — |  | 25,507 |
Greater or equal to 4.50% | 3 |  | — |  | — |  | — |  | 3 |
Total | $ | 34,261 |  | 533 |  | 11 |  | 3,529 |  | 38,334 |
Premiums paid in advance | 0.00% - 1.49% | $ | — |  | — |  | — |  | 37,922 |  | 37,922 |
1.50% - 2.99% | — |  | — |  | — |  | — |  | — |
3.00% - 4.49% | — |  | — |  | — |  | — |  | — |
Greater or equal to 4.50% | — |  | — |  | — |  | — |  | — |
Total | $ | — |  | — |  | — |  | 37,922 |  | 37,922 |
Home Service Insurance: |  |  |  |  |
SCWOLC (1) | 0.00% - 1.49% | $ | 6 |  | — |  | — |  | — |  | 6 |
1.50% - 2.99% | 249 |  | — |  | — |  | — |  | 249 |
3.00% - 4.49% | 49 |  | — |  | — |  | — |  | 49 |
Greater or equal to 4.50% | — |  | — |  | — |  | — |  | — |
Total | $ | 304 |  | — |  | — |  | — |  | 304 |
Fixed annuity | 0.00% - 1.49% | $ | 284 |  | — |  | — |  | 408 |  | 692 |
1.50% - 2.99% | — |  | — |  | — |  | — |  | — |
3.00% - 4.49% | 18,743 |  | — |  | — |  | — |  | 18,743 |
Greater or equal to 4.50% | 903 |  | — |  | — |  | — |  | 903 |
Total | $ | 19,930 |  | — |  | — |  | 408 |  | 20,338 |
Dividend accumulations | 0.00% - 1.49% | $ | — |  | — |  | — |  | 173 |  | 173 |
1.50% - 2.99% | 5 |  | 44 |  | — |  | — |  | 49 |
3.00% - 4.49% | 19 |  | — |  | — |  | — |  | 19 |
Greater or equal to 4.50% | — |  | — |  | — |  | — |  | — |
Total | $ | 24 |  | 44 |  | — |  | 173 |  | 241 |
(1) Supplemental Contracts Without Life Contingencies
Policyholder Account Balance | The following tables summarize balances of and changes in policyholders' account balances.
March 31, 2023 (In thousands) | SCWOLC (1) | Fixed Annuity | Dividend Accumulations | Premiums Paid in Advance
Life Insurance: |  |  |  |
Balance, beginning of year | $ | 32,667 |  | 66,543 |  | 41,424 |  | 34,603 |
Issuances | 4,788 |  | 536 |  | 147 |  | 905 |
Premiums received | 18 |  | 1,025 |  | 1,383 |  | 145 |
Interest credited | 341 |  | 536 |  | 322 |  | 226 |
Less: |  |  |  |
Surrenders and withdrawals | — |  | 1,640 |  | 848 |  | 1,757 |
Benefit payments | 2,288 |  | — |  | — |  | — |
Balance, end of period | $ | 35,526 |  | 67,000 |  | 42,428 |  | 34,122 |
Weighted-average crediting rates | 4.10 | % | 3.70 | % | 3.49 | % | 3.00 | %
Cash surrender value | $ | 35,526 |  | 67,000 |  | 42,428 |  | 34,122 |
Home Service Insurance: |  |  |  |
Balance, beginning of year | $ | 328 |  | 20,264 |  | 239 |  | — |
Issuances | — |  | 227 |  | 1 |  | — |
Premiums received | — |  | 145 |  | 1 |  | — |
Interest credited | 2 |  | 132 |  | 2 |  | — |
Less: |  |  |  |
Surrenders and withdrawals | — |  | 607 |  | 3 |  | — |
Benefit payments | 21 |  | — |  | — |  | — |
Balance, end of period | $ | 309 |  | 20,161 |  | 240 |  | — |
Weighted-average crediting rates | 2.20 | % | 3.10 | % | 3.09 | % | 4.00 | %
Cash surrender value | $ | 309 |  | 20,161 |  | 240 |  | — |
Consolidated: |  |  |  |
Balance, beginning of year | $ | 32,995 |  | 86,807 |  | 41,663 |  | 34,603 |
Issuances | 4,788 |  | 763 |  | 148 |  | 905 |
Premiums received | 18 |  | 1,170 |  | 1,384 |  | 145 |
Interest credited | 343 |  | 668 |  | 324 |  | 226 |
Less: |  |  |  |
Surrenders and withdrawals | — |  | 2,247 |  | 851 |  | 1,757 |
Benefit payments | 2,309 |  | — |  | — |  | — |
Balance, end of period | $ | 35,835 |  | 87,161 |  | 42,668 |  | 34,122 |
Weighted-average crediting rates | 4.05 | % | 3.57 | % | 3.05 | % | 2.98 | %
Cash surrender value | $ | 35,835 |  | 87,161 |  | 42,668 |  | 34,122 |
(1) Supplemental Contracts Without Life Contingencies |  |  |  |
March 31, 2022 (In thousands) | SCWOLC (1) | Fixed Annuity | Dividend Accumulations | Premiums Paid in Advance
Life Insurance: |  |  |  |
Balance, beginning of year | $ | 23,628 |  | 63,591 |  | 37,513 |  | 38,875 |
Issuances | 2,392 |  | 604 |  | 123 |  | 469 |
Premiums received | 12 |  | 995 |  | 1,264 |  | 132 |
Interest credited | 232 |  | 517 |  | 292 |  | 275 |
Less: |  |  |  |
Surrenders and withdrawals | — |  | 1,448 |  | 858 |  | 1,829 |
Benefit payments | 1,001 |  | — |  | — |  | — |
Balance, end of period | $ | 25,263 |  | 64,259 |  | 38,334 |  | 37,922 |
Weighted-average crediting rates | 4.11 | % | 3.76 | % | 3.50 | % | 3.09 | %
Cash surrender value | $ | 25,263 |  | 64,259 |  | 38,334 |  | 37,922 |
Home Service Insurance: |  |  |  |
Balance, beginning of year | $ | 322 |  | 20,326 |  | 247 |  | — |
Issuances | 10 |  | 213 |  | 3 |  | — |
Premiums received | — |  | 189 |  | 1 |  | — |
Interest credited | 2 |  | 140 |  | 2 |  | — |
Less: |  |  |  |
Surrenders and withdrawals | — |  | 530 |  | 12 |  | — |
Benefit payments | 30 |  | — |  | — |  | — |
Balance, end of period | $ | 304 |  | 20,338 |  | 241 |  | — |
Weighted-average crediting rates | 2.13 | % | 3.11 | % | 3.10 | % | 4.00 | %
Cash surrender value | $ | 304 |  | 20,338 |  | 241 |  | — |
Consolidated: |  |  |  |
Balance, beginning of year | $ | 23,950 |  | 83,917 |  | 37,760 |  | 38,875 |
Issuances | 2,402 |  | 817 |  | 126 |  | 469 |
Premiums received | 12 |  | 1,184 |  | 1,265 |  | 132 |
Interest credited | 234 |  | 657 |  | 294 |  | 275 |
Less: |  |  |  |
Surrenders and withdrawals | — |  | 1,978 |  | 870 |  | 1,829 |
Benefit payments | 1,031 |  | — |  | — |  | — |
Balance, end of period | $ | 25,567 |  | 84,597 |  | 38,575 |  | 37,922 |
Weighted-average crediting rates | 4.08 | % | 3.60 | % | 3.08 | % | 3.09 | %
Cash surrender value | $ | 25,567 |  | 84,597 |  | 38,575 |  | 37,922 |
(1) Supplemental Contracts Without Life Contingencies |  |  |  |
The following table reconciles policyholders' account balances to the policyholders' account balances' liability in the consolidated balance sheet.
| March 31, 2023 |  | March 31, 2022
(In thousands) | Life Insurance | Home Service Insurance | Consolidated |  | Life Insurance | Home Service Insurance | Consolidated
Annuities: |  |  |  |  |  |  |
SCWOLC (1) | $ | 35,526 |  | 309 |  | 35,835 |  |  | 25,263 |  | 304 |  | 25,567 |
Fixed annuity | 67,000 |  | 20,161 |  | 87,161 |  |  | 64,259 |  | 20,338 |  | 84,597 |
Unearned revenue reserve | — |  | 1,531 |  | 1,531 |  |  | — |  | 1,588 |  | 1,588 |
Other | 1 |  | — |  | 1 |  |  | — |  | (1) |  | (1) |
Total annuities | $ | 102,527 |  | 22,001 |  | 124,528 |  |  | 89,522 |  | 22,229 |  | 111,751 |
(1) Supplemental Contracts Without Life Contingencies |  |  |  |  |
Dividend Accumulations: |  |  |  |  |  |  |
Dividend accumulations | $ | 42,428 |  | 240 |  | 42,668 |  |  | 38,334 |  | 241 |  | 38,575 |
Other | 1 |  | (1) |  | — |  |  | — |  | — |  | — |
Total dividend accumulations | $ | 42,429 |  | 239 |  | 42,668 |  |  | 38,334 |  | 241 |  | 38,575 |
Premiums Paid in Advance: |  |  |  |  |  |  |
Premiums paid in advance | $ | 34,122 |  | — |  | 34,122 |  |  | 37,922 |  | — |  | 37,922 |
Other | 2,294 |  | 281 |  | 2,575 |  |  | 2,180 |  | 331 |  | 2,511 |
Total premiums paid in advance | $ | 36,416 |  | 281 |  | 36,697 |  |  | 40,102 |  | 331 |  | 40,433 |

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