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Scenario 1 - Constant Loan Interest Rate
Balance Sheet Summary
(dollars in thousands)
(A) (B1) (B2) (B) (C) (D) (E)
Gross Insurance Net Accrued Retained Annual
Cash Cash Surrender Outstanding Cash Surrender Loan Earnings Impact on
Year Amount Value (Loan) Value Interest Gain/(Loss) Earnings
2023 1,258,371 9,187,244 (8,271,289) 915,955 914,804 1,259,522 54,335
2024 1,312,054 10,035,794 (9,035,290) 1,000,504 999,303 1,313,255 53,733
2025 1,365,071 10,949,751 (9,858,179) 1,091,572 1,090,314 1,366,329 53,074
2026 1,417,360 11,929,899 (10,740,660) 1,189,239 1,187,917 1,418,682 52,353
2027 1,468,851 12,975,894 (11,682,425) 1,293,469 1,292,076 1,470,244 51,563
2028 1,519,472 14,086,579 (12,682,433) 1,404,146 1,402,677 1,520,941 50,696
2029 1,569,135 15,259,936 (13,738,869) 1,521,067 1,519,519 1,570,684 49,743
2030 1,617,866 16,493,017 (14,849,189) 1,643,828 1,642,320 1,619,373 48,690
2031 1,666,193 17,781,309 (16,009,926) 1,771,382 1,770,698 1,666,878 47,504
2032 1,711,426 19,121,648 (17,215,847) 1,905,801 1,904,072 1,713,155 46,277
2033 1,756,207 20,505,234 (18,461,532) 2,043,703 2,041,845 1,758 064 44,909
2034 1,799,568 21,920,085 (19,735,415) 2,184,670 2,182,737 1,801,501 43,437
2035 1,841,357 23,349,517 (21,022,427) 2,327,091 2,325,080 1,843,368 41,867
2036 1,881,481 24,771,530 (22,302,756) 2,468,774 2,466,685 1,883,570 40,202
2037 1,919,850 26,158,656 (23,551,673) 2,606,983 2,604,815 1,922,018 38,448
2038 1,956,379 27,479,838 (24,741,217) 2,738,622 2,736,378 1,958,623 36,604
2039 1,990,980 28,701,693 (25,841,333) 2,860,360 2,858,051 1,993,289 34,667
2040 2,023,562 29,789,198 (26,820,490) 2,968,708 2,966,346 2,025,924 32,635
2041 2,054,041 30,707,139 (27,646,985) 3,060,154 3,057,756 2,056,439 30,514
2042 2,084,507 31,419,234 (28,290,172) 3,129,061 3,128,893 2,084,676 28,238
2043 2,113,799 31,884,697 (28,712,437) 3,172,260 3,175,595 2,110,463 25,787
2044 2,137,571 32,075,465 (28,884,537) 3,190,928 3,194,629 2,133,870 23,406
2045 2,158,932 31,972,124 (28,791,793) 3,180,331 3,184,372 2,154,891 21,022
2046 2,177,903 31,564,289 (28,424,843) 3,139,446 3,143,787 2,173,562 18,671
2047 2,194,558 30,841,004 (27,773,818) 3,067,186 3,071,784 2,189,959 16,398
2048 2,208,980 29,806,151 (26,842,200) 2,963,951 2,968,747 2,204,185 14,225
2049 2,221,293 28,470,031 (25,639,258) 2,830,773 2,835,702 2,216,365 12,180
2050 2,231,639 26,848,924 (24,179,646) 2,669,277 2,674,269 2,226,648 10,284
2051 2,240,168 24,972,749 (22,490,297) 2,482,451 2,487,427 2,235,193 8,545
2052 2,246,432 22,930,156 (20,650,250) 2,279,906 2,284,848 2,241,491 6,298
All figures are estimates. Actual results will depend upon mortality, interest rates and dividends.
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