Complex sentence: Over the life of the contract, future income (premiums, investment income, etc.) is expected to repay this initial outlay, however under some accounting regimes, the insurer may not take credit for such future surpluses.
Split into simpler sentences: Over the life of the contract, future income (premiums, investment income, etc.) is expected to repay this initial outlay. However under some accounting regimes, the insurer may not take credit for such future surpluses.