Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 171

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 171
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,689
        )

        Foreign currency translation

        (621
        )

        250

        Net balance, end of period

        (29,860
        )

        (20,059
        )

        Add reinsured policy claims and other benefits payable

        518,210

        533,862

        Balance, end of period
         
        $
        488,350

        $
        513,803

       (1)Includes the difference between our estimate of claims incurred but not yet reported at year end and the actual incurred claims reported after year end. The liability for policy claims and other benefits payable on traditional life insurance products includes estimated unpaid claims that have been reported to us and claims incurred but not yet reported. We estimate claims incurred but not yet reported based on our historical claims activity, adjusted for any current trends and conditions, and reported lag time experience. 

(11) Future Policy Benefits The following tables summarize balances and changes in the present value of expected net premiums and the present value of expected future policy benefits underlying the LFPB:

94

        Year ended December 31,

        2024

        2023

        (Dollars in thousands)

        Present Value of Expected Net Premiums
         
        Term Life Insurance

        Balance at then current discount rate, beginning of period
         
        $
        13,977,353

        $
        13,053,386

        Balance at original discount rate, beginning of period

        14,012,553

        13,521,221

             Effect of changes in cash flow assumptions

        (74,233
        )

        (5,364
        )

             Effect of actual variances from expected experience

        (373,646
        )

        (229,884
        )

        Adjusted balance, beginning of period

        13,564,674

        13,285,973

             Issuances

        1,884,054

        1,836,290

             Interest accrual at original discount rate

        608,588

        544,806

             Net premiums collected

        (1,733,262
        )

        (1,682,924
        )

             Foreign currency translation

        (90,058
        )

        28,408

        Expected net premiums at original discount rate, end of