| Policyholders' Account Balances |
8.
Policyholders’ Account Balances
The
composition of Policyholders’ account balances and deposit-type liabilities as of December 31, 2025 and 2024 is summarized as follows:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| Annuities | |
$ | 15,797,303 | | |
$ | 18,320,927 | |
| Universal life policies | |
| 843,101 | | |
| 975,146 | |
| Total Policyholders’ account balances | |
$ | 16,640,404 | | |
$ | 19,296,073 | |
| Deposit-type liabilities | |
| | | |
| | |
| Supplemental contracts without life contingencies | |
$ | 60,440 | | |
$ | 111,553 | |
| Premium deposit funds | |
| 71,455 | | |
| 83,486 | |
| Total deposit-type liabilities | |
$ | 131,895 | | |
$ | 195,039 | |
The
range of crediting rates for policyholders’ account balances compared to the guaranteed minimum crediting rates as of December
31, 2025 and 2024 are presented as follows:
| | |
December 31, 2025 | |
| Range of Guaranteed Minimum Crediting Rates | |
At
Guaranteed
Minimum | | |
1 Basis
point to
50 Basis
Points
Above
Guaranteed
Minimum | | |
51 Basis
point to
150 Basis
Points
Above
Guaranteed
Minimum | | |
Greater than
150 Basis
Points
Above
Guaranteed
Minimum | | |
Total | |
| 2% to 2.99% | |
$ | 1,126,697 | | |
$ | 2,283,397 | | |
$ | 4,934,716 | | |
$ | 3,874,418 | | |
$ | 12,219,228 | |
| 3% to 3.99% | |
| 898,347 | | |
| 143,504 | | |
| - | | |
| 3,379,325 | | |
| 4,421,176 | |
| Total | |
$ | 2,025,044 | | |
$ | 2,426,901 | | |
$ | 4,934,716 | | |
$ | 7,253,743 | | |
$ | 16,640,404 | |
| | |
December 31, 2024 | |
| Range of Guaranteed Minimum Crediting Rates | |
At
Guaranteed
Minimum | | |
1 Basis
point to
50 Basis
Points
Above
Guaranteed
Minimum | | |
51 Basis
point to
150 Basis
Points
Above
Guaranteed
Minimum | | |
Greater than
150 Basis
Points
Above
Guaranteed
Minimum | | |
Total | |
| 2% to 2.99% | |
$ | 1,157,666 | | |
$ | 2,517,980 | | |
$ | 11,295,212 | | |
$ | - | | |
$ | 14,970,858 | |
| 3% to 3.99% | |
| 979,450 | | |
| 149,047 | | |
| - | | |
| 3,196,718 | | |
| 4,325,215 | |
| Total | |
$ | 2,137,116 | | |
$ | 2,667,027 | | |
$ | 11,295,212 | | |
$ | 3,196,718 | | |
$ | 19,296,073 | |
The
change in the policyholders account balances for the years ended December 31, 2025 and 2024 are summarized as follows:
| | |
For the Years Ended
December 31, | |
| | |
2025 | | |
2024 | |
| Policyholders’ account balances, beginning | |
$ | 19,296,073 | | |
$ | 27,939,979 | |
| Deposits | |
| 8,630,331 | | |
| 7,664,300 | |
| Withdrawals | |
| (8,056,276 | ) | |
| (14,706,170 | ) |
| Mortality and expense fees | |
| (3,645,670 | ) | |
| (2,168,481 | ) |
| Funds withheld under coinsurance agreement | |
| (263,170 | ) | |
| (352,400 | ) |
| Interest credited | |
| 679,116 | | |
| 918,845 | |
| Increase (decrease) | |
| (2,655,669 | ) | |
| (8,643,906 | ) |
| Policyholders’ account balances, ending | |
$ | 16,640,404 | | |
$ | 19,296,073 | |
| Weighted Average Crediting Rate | |
| 3.90 | % | |
| 3.30 | % |
| Cash surrender value | |
$ | 15,182,914 | | |
$ | 17,526,896 | |
|