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Deferred Policy Acquisition Costs and Cost of Insurance Acquired | 9 Months Ended
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Sep. 30, 2023
Insurance [Abstract] |
Deferred Policy Acquisition Costs and Cost of Insurance Acquired | DEFERRED POLICY ACQUISITION COSTS AND COST OF INSURANCE ACQUIRED DAC The following tables roll forward the DAC asset for the nine months ended September 30, 2023 and 2022 by reporting cohort. Our reporting cohorts are 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.
| Nine Months Ended September 30, 2023
(In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 100,926 |  | 11,542 |  |  | 1,016 |  | 113,484 |
Capitalizations | 11,220 |  | 2,385 |  |  | 353 |  | 13,958 |
Amortization expense | (8,859) |  | (586) |  |  | (197) |  | (9,642) |
Balance, end of period | 103,287 |  | 13,341 |  |  | 1,172 |  | 117,800 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 38,793 |  | 9,729 |  |  | 921 |  | 49,443 |
Capitalizations | 5,026 |  | 865 |  |  | 185 |  | 6,076 |
Amortization expense | (1,542) |  | (295) |  |  | (65) |  | (1,902) |
Balance, end of period | 42,277 |  | 10,299 |  |  | 1,041 |  | 53,617 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 139,719 |  | 21,271 |  |  | 1,937 |  | 162,927 |
Capitalizations | 16,246 |  | 3,250 |  |  | 538 |  | 20,034 |
Amortization expense | (10,401) |  | (881) |  |  | (262) |  | (11,544) |
Balance, end of period | $ | 145,564 |  | 23,640 |  |  | 2,213 |  | 171,417 |
| Nine Months Ended September 30, 2022
(In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 97,675 |  | 9,001 |  |  | 1,026 |  | 107,702 |
Capitalizations | 10,043 |  | 2,121 |  |  | 41 |  | 12,205 |
Amortization expense | (8,462) |  | (476) |  |  | (113) |  | (9,051) |
Balance, end of period | 99,256 |  | 10,646 |  |  | 954 |  | 110,856 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 35,137 |  | 8,723 |  |  | 856 |  | 44,716 |
Capitalizations | 4,049 |  | 1,064 |  |  | 19 |  | 5,132 |
Amortization expense | (1,361) |  | (271) |  |  | 32 |  | (1,600) |
Balance, end of period | 37,825 |  | 9,516 |  |  | 907 |  | 48,248 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 132,812 |  | 17,724 |  |  | 1,882 |  | 152,418 |
Capitalizations | 14,092 |  | 3,185 |  |  | 60 |  | 17,337 |
Amortization expense | (9,823) |  | (747) |  |  | (81) |  | (10,651) |
Balance, end of period | $ | 137,081 |  | 20,162 |  |  | 1,861 |  | 159,104 |
DAC capitalization increased for the nine months ended September 30, 2023, compared to the same prior year period mainly from increased commissions from higher first year sales across our business segments. COIA The following tables provide rollforwards of the COIA balances for the nine months ended September 30, 2023 and 2022 by reporting cohort. Our reporting cohorts are 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.
| Nine Months Ended September 30, 2023
(In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 267 |  | 750 |  |  | 444 |  | 1,461 |
Amortization expense | (14) |  | (43) |  |  | (29) |  | (86) |
Balance, end of period | 253 |  | 707 |  |  | 415 |  | 1,375 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 7,583 |  | 176 |  |  | 1,427 |  | 9,186 |
Amortization expense | (293) |  | (6) |  |  | (80) |  | (379) |
Balance, end of period | 7,290 |  | 170 |  |  | 1,347 |  | 8,807 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 7,850 |  | 926 |  |  | 1,871 |  | 10,647 |
Amortization expense | (307) |  | (49) |  |  | (109) |  | (465) |
Balance, end of period | $ | 7,543 |  | 877 |  |  | 1,762 |  | 10,182 |
| Nine Months Ended September 30, 2022
(In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 287 |  | 812 |  |  | 485 |  | 1,584 |
Amortization expense | (15) |  | (47) |  |  | (32) |  | (94) |
Balance, end of period | 272 |  | 765 |  |  | 453 |  | 1,490 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 7,989 |  | 184 |  |  | 1,511 |  | 9,684 |
Amortization expense | (306) |  | (6) |  |  | (40) |  | (352) |
Balance, end of period | 7,683 |  | 178 |  |  | 1,471 |  | 9,332 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 8,276 |  | 996 |  |  | 1,996 |  | 11,268 |
Amortization expense | (321) |  | (53) |  |  | (72) |  | (446) |
Balance, end of period | $ | 7,955 |  | 943 |  |  | 1,924 |  | 10,822 |

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- Definition The entire disclosure for deferred policy acquisition costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//944-30/tableOfContent + Details
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