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Deferred Policy Acquisition Costs and Cost of Insurance Acquired | 12 Months Ended
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Dec. 31, 2024
Insurance [Abstract] |
Deferred Policy Acquisition Costs and Cost of Insurance Acquired | The following tables roll forward the DAC and COIA balances for the years ended December 31, 2024 and 2023 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. DAC
Year Ended December 31, 2024 (In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 105,552 |  | 14,075 |  |  | 1,213 |  | 120,840 |
Capitalizations | 31,740 |  | 3,314 |  |  | 350 |  | 35,404 |
Amortization expense | (12,567) |  | (1,001) |  |  | (1,016) |  | (14,584) |
Balance, end of year | 124,725 |  | 16,388 |  |  | 547 |  | 141,660 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 43,280 |  | 10,564 |  |  | 1,084 |  | 54,928 |
Capitalizations | 4,643 |  | 1,017 |  |  | 238 |  | 5,898 |
Amortization expense | (2,267) |  | (430) |  |  | (154) |  | (2,851) |
Balance, end of year | 45,656 |  | 11,151 |  |  | 1,168 |  | 57,975 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 148,832 |  | 24,639 |  |  | 2,297 |  | 175,768 |
Capitalizations | 36,383 |  | 4,331 |  |  | 588 |  | 41,302 |
Amortization expense | (14,834) |  | (1,431) |  |  | (1,170) |  | (17,435) |
Balance, end of year | $ | 170,381 |  | 27,539 |  |  | 1,715 |  | 199,635 |
Year Ended December 31, 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 | 16,451 |  | 3,332 |  |  | 468 |  | 20,251 |
Amortization expense | (11,825) |  | (799) |  |  | (271) |  | (12,895) |
Balance, end of year | 105,552 |  | 14,075 |  |  | 1,213 |  | 120,840 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 38,793 |  | 9,729 |  |  | 921 |  | 49,443 |
Capitalizations | 6,570 |  | 1,232 |  |  | 248 |  | 8,050 |
Amortization expense | (2,083) |  | (397) |  |  | (85) |  | (2,565) |
Balance, end of year | 43,280 |  | 10,564 |  |  | 1,084 |  | 54,928 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 139,719 |  | 21,271 |  |  | 1,937 |  | 162,927 |
Capitalizations | 23,021 |  | 4,564 |  |  | 716 |  | 28,301 |
Amortization expense | (13,908) |  | (1,196) |  |  | (356) |  | (15,460) |
Balance, end of year | $ | 148,832 |  | 24,639 |  |  | 2,297 |  | 175,768 |
DAC capitalization increased for the year ended December 31, 2024, compared to the same prior year period mainly from increased commissions from higher first year sales in our Life Insurance segment. COIA
Year Ended December 31, 2024 (In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 249 |  | 695 |  |  | 406 |  | 1,350 |
Amortization expense | 350 |  | (47) |  |  | (406) |  | (103) |
Balance, end of year | 599 |  | 648 |  |  | — |  | 1,247 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 7,194 |  | 168 |  |  | 1,331 |  | 8,693 |
Amortization expense | (369) |  | (7) |  |  | (118) |  | (494) |
Balance, end of year | 6,825 |  | 161 |  |  | 1,213 |  | 8,199 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 7,443 |  | 863 |  |  | 1,737 |  | 10,043 |
Amortization expense | (19) |  | (54) |  |  | (524) |  | (597) |
Balance, end of year | $ | 7,424 |  | 809 |  |  | 1,213 |  | 9,446 |
Year Ended December 31, 2023 (In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 267 |  | 750 |  |  | 444 |  | 1,461 |
Amortization expense | (18) |  | (55) |  |  | (38) |  | (111) |
Balance, end of year | 249 |  | 695 |  |  | 406 |  | 1,350 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 7,583 |  | 176 |  |  | 1,427 |  | 9,186 |
Amortization expense | (389) |  | (8) |  |  | (96) |  | (493) |
Balance, end of year | 7,194 |  | 168 |  |  | 1,331 |  | 8,693 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 7,850 |  | 926 |  |  | 1,871 |  | 10,647 |
Amortization expense | (407) |  | (63) |  |  | (134) |  | (604) |
Balance, end of year | $ | 7,443 |  | 863 |  |  | 1,737 |  | 10,043 |
Estimated amortization of COIA in each of the next five years and thereafter is as follows. Actual future amortization will differ from these estimates due to variances from estimated future withdrawal assumptions.
(In thousands) | Amount
Cost of insurance acquired: |
Year: |
2025 | $ | 635 |
2026 | 582 |
2027 | 534 |
2028 | 491 |
2029 | 453 |
Thereafter | 6,751 |
Total cost of insurance acquired | $ | 9,446 |

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