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Policy Claim Liability | 12 Months Ended
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Dec. 31, 2024
Insurance [Abstract] |
Policy Liability | The following table presents information on changes in the liability for policy and contract claims.
Years ended December 31, (In thousands) | 2024 |  | 2023 |  |
Policy claims payable: |  |  |  |  |
Balance at January 1 | $ | 6,637 |  |  | 9,884 |  |  |
Less: reinsurance recoverable | 1,298 |  |  | 2,070 |  |  |
Net balance at January 1 | 5,339 |  |  | 7,814 |  |  |
Add claims incurred, related to: |  |  |  |  |
Current year | 26,781 |  |  | 25,630 |  |  |
Prior years(1) | (552) |  |  | (522) |  |  |
| 26,229 |  |  | 25,108 |  |  |
Deduct claims paid, related to: |  |  |  |  |
Current year | 19,189 |  |  | 20,786 |  |  |
Prior years | 4,480 |  |  | 6,797 |  |  |
| 23,669 |  |  | 27,583 |  |  |
Net balance December 31 | 7,899 |  |  | 5,339 |  |  |
Plus: reinsurance recoverable | 923 |  |  | 1,298 |  |  |
Balance at December 31 | $ | 8,822 |  |  | 6,637 |  |  |
(1) This line is primarily impacted by the level of claim resolutions in the period compared to that which is expected by the reserve assumption. A positive number implies an unfavorable result where claim resolutions were less favorable than assumed while a negative number implies a favorable result compared to assumptions. Our claim assumptions will vary from actual experience in any one period, either favorably or unfavorably.

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- Definition The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/944-40/tableOfContent + Details
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