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Deferred Policy Acquisition Costs, Deferred Sales Inducements and Liability for Lifetime Income Benefit Riders (Tables)
 12 Months Ended
Dec. 31, 2018
Insurance [Abstract]  
Rollforward of Deferred Policy Acquisition Costs
Policy acquisition costs deferred and amortized are as follows:
 
December 31,
 
2018
 
2017
 
2016
 
(Dollars in thousands)
Balance at beginning of year
$
2,714,523

 
$
2,905,377

 
$
2,905,136

Costs deferred during the year:
 
 
 
 
 
Commissions
384,432

 
401,124

 
538,863

Policy issue costs
3,790

 
5,517

 
4,462

Amortization:
 
 
 
 
 
Amortization
(358,563
)
 
(304,162
)
 
(325,848
)
Impact of unlocking
30,572

 
48,198

 
(48,164
)
Effect of net unrealized gains/losses
761,084

 
(341,531
)
 
(169,072
)
Balance at end of year
$
3,535,838

 
$
2,714,523

 
$
2,905,377
Rollforward of Deferred Sales Inducements
Sales inducements deferred and amortized are as follows:
 
December 31,
 
2018
 
2017
 
2016
 
(Dollars in thousands)
Balance at beginning of year
$
2,001,892

 
$
2,208,218

 
$
2,232,148

Costs deferred during the year
179,465

 
216,172

 
353,966

Amortization:
 
 
 
 
 
Amortization
(243,666
)
 
(210,886
)
 
(215,406
)
Impact of unlocking
21,465

 
34,274

 
(35,760
)
Effect of net unrealized gains/losses
557,565

 
(245,886
)
 
(126,730
)
Balance at end of year
$
2,516,721

 
$
2,001,892

 
$
2,208,218
Rollforward of Liability for Lifetime Income Benefit Riders (Net of Coinsurance Ceded)
The following table presents a rollforward of the liability for lifetime income benefit riders (net of coinsurance ceded):
 
December 31,
 
2018
 
2017
 
2016
 
(Dollars in thousands)
Balance at beginning of year
$
704,441

 
$
533,391

 
$
351,946

Benefit expense accrual
157,333

 
149,442

 
139,443

Impact of unlocking
(53,607
)
 
21,608

 
42,002

Claim payments
—

 
—

 
—

Balance at end of year
$
808,167

 
$
704,441

 
$
533,391