GLOBE LIFE INC

Previous wording

•Net income as a return on equity (ROE) for the six months ended June 30, 2024 was 20.8% and net operating income as an ROE, excluding accumulated other comprehensive income(1) was 14.5%.

Current wording

•Net income as a return on equity (ROE) for the nine months ended September 30, 2024 was 22.4% and net operating income as an ROE, excluding accumulated other comprehensive income(1) was 15.3%.

Previous wording

•Total premium increased 5% over the same period in the prior year. Life premium increased 4% for the period from $1.55 billion in 2023 to $1.62 billion in 2024.

Current wording

•Total premium increased 5% over the same period in the prior year. Life premium increased 4% for the period from $2.34 billion in 2023 to $2.44 billion in 2024.

Previous wording

•Total net sales increased 10% over the same period in the prior year from $379 million in 2023 to $415 million in 2024. The average producing agent count across all of the exclusive agencies increased 13% over the prior year.

Current wording

•Total net sales increased 9% over the same period in the prior year from $568 million in 2023 to $622 million in 2024. The average producing agent count across all of the exclusive agencies increased 12% over the prior year.

Previous wording

•Book value per share increased 40% over the same period in the prior year from $41.44 to $58.06. Book value per share, excluding accumulated other comprehensive income(1), increased 14% over the prior year from $72.09 in 2023 to $82.38 in 2024.

Current wording

•Book value per share increased 13% over the same period in the prior year from $48.51 to $54.65. Book value per share, excluding accumulated other comprehensive income(1), increased 13% over the prior year from $74.31 in 2023 to $83.92 in 2024.

Previous wording

The following graphs represent net income and net operating income for the six month periods ended June 30, 2024 and 2023.

Current wording

The following graphs represent net income and net operating income for the nine month periods ended September 30, 2024 and 2023.

Previous wording

Net operating income as an ROE, excluding accumulated other comprehensive income (AOCI), is considered a non-GAAP measure. Management utilizes this measure to view the business without the effect of changes in AOCI, which are primarily attributable to fluctuation in interest rates. The impact of the adjustment to exclude AOCI is $(2.2) billion and $(2.9) billion for the six months ended June 30, 2024 and 2023, respectively.

Current wording

Net operating income as an ROE, excluding accumulated other comprehensive income (AOCI), is considered a non-GAAP measure. Management utilizes this measure to view the business without the effect of changes in AOCI, which are primarily attributable to fluctuation in interest rates. The impact of the adjustment to exclude AOCI is $(2.48) billion and $(2.46) billion for the nine months ended September 30, 2024 and 2023, respectively.

Previous wording

Book value per share, excluding AOCI, is also considered a non-GAAP measure. Management utilizes this measure to view the book value of the business without the effect of changes in AOCI, which are primarily attributable to fluctuation in interest rates. The impact of the adjustment to exclude AOCI is $(24.32) and $(30.65) for the six months ended June 30, 2024 and 2023, respectively.

Current wording

Book value per share, excluding AOCI, is also considered a non-GAAP measure. Management utilizes this measure to view the book value of the business without the effect of changes in AOCI, which are primarily attributable to fluctuation in interest rates. The impact of the adjustment to exclude AOCI is $(29.27) and $(25.80) for the nine months ended September 30, 2024 and 2023, respectively.

Previous wording

Summary of Operations. Net income increased 17% to $513 million during the six months ended June 30, 2024, compared with $439 million in the same period in 2023. On a diluted per common share basis, net income per common share for the six months ended June 30, 2024 increased 22% from $4.52 to $5.51.

Current wording

Summary of Operations. Net income increased 17% to $816 million during the nine months ended September 30, 2024, compared with $696 million in the same period in 2023. On a diluted per common share basis, net income per common share for the nine months ended September 30, 2024 increased 24% from $7.20 to $8.93.

Previous wording

Net operating income increased 7% to $535 million for the six months ended June 30, 2024, compared with $500 million for the same period in 2023, primarily due to a 43% increase in excess investment income as well as a 7% increase in life underwriting margin. On a diluted per common share basis, net operating income per common share for the six months ended June 30, 2024 increased from $5.15 to $5.76, a 12% increase. Net operating income is the consolidated total of segment profits after tax and as such is considered a non-GAAP measure. Net income is the most directly comparable GAAP measure. We do not consider realized gains and losses to be a component of our core insurance operations or operating segments. Additionally, net income was affected by certain non-operating items. We do not view these items as components of core operating results because they are not indicative of past performance or future prospects of the insurance operations. We remove items such as these that relate to prior periods or are non-operating items when evaluating the results of current operations, and therefore exclude such items from our segment analysis for current periods.

Current wording

Net operating income increased 11% to $843 million for the nine months ended September 30, 2024, compared with $759 million for the same period in 2023, due to a 33% increase in excess investment income as well as a 15% increase in life underwriting margin. On a diluted per common share basis, net operating income per common share for the nine months ended September 30, 2024 increased from $7.85 to $9.23, an 18% increase. Net operating income is the consolidated total of segment profits after tax and as such is considered a non-GAAP measure. Net income is the most directly comparable GAAP measure. We do not consider realized gains and losses to be a component of our core insurance operations or operating segments. Additionally, net income was affected by certain non-operating items. We do not view these items as components of core operating results because they are not indicative of past performance or future prospects of the insurance operations. We remove items such as these that relate to prior periods or are non-operating items when evaluating the results of current operations, and therefore exclude such items from our segment analysis for current periods.

Previous wording

The Company continues to see positive signs in its core operations, including sales and premium growth, and a strong ROE, excluding accumulated other comprehensive income.

Current wording

The Company continues to see positive signs in its core operations, including sales and premium growth, and a consistent operating ROE, excluding accumulated other comprehensive income, generally in the mid-teens.

Previous wording

The life insurance segment is our primary segment and is the largest contributor to earnings in each period presented. The life insurance segment underwriting margin increased $42 million compared with the prior period, primarily a result of increased premiums and favorable policy obligations as a percent of premium. Excess investment income increased $26 million compared with the prior period, resulting from growth in our invested assets and increased yields due to higher interest rates. The health segment contributed to the growth in income as well, contributing $194 million of underwriting margin in the first six months of 2024 compared with $184 million in the first six months of 2023.

Current wording

The life insurance segment is our primary segment and is the largest contributor to earnings in each period presented. The life insurance segment underwriting margin increased $129 million compared with the prior period, primarily a result of increased premiums and favorable policy obligations as a percent of premium due most notably to a remeasurement gain related to the updating of assumptions in the third quarter. Excess investment income increased $32 million compared with the prior period, resulting from growth in our invested assets and increased yields due to higher interest rates. The health segment increased slightly with $281 million of underwriting margin in the first nine months of 2024 compared with $280 million in the first nine months of 2023.

Previous wording

In 2024, the largest contributor of total underwriting margin was the life insurance segment and the primary distribution channel was the American Income Life Division (American Income). The following charts represent the breakdown of total underwriting margin by operating segment and distribution channel for the six months ended June 30, 2024.

Current wording

In 2024, the largest contributor of total underwriting margin was the life insurance segment and the primary distribution channel was the American Income Life Division (American Income). The following charts represent the breakdown of total underwriting margin by operating segment and distribution channel for the nine months ended September 30, 2024.

Previous wording

Total premium income rose 5% for the six months ended June 30, 2024 to $2.31 billion. Total net sales increased 10% to $415 million, when compared with 2023. Total first-year collected premium (defined in the following section) increased 12% to $333 million for 2024 compared to $297 million in 2023.

Current wording

Total premium income rose 5% for the nine months ended September 30, 2024 to $3.49 billion. Total net sales increased 9% to $622 million, when compared with 2023. Total first-year collected premium (defined in the following section) increased 13% to $507 million for 2024 compared to $449 million in 2023.

Previous wording

Life insurance premium income increased 4% to $1.62 billion over the prior-year total of $1.55 billion. Life net sales rose 8% to $303 million for the first six months of 2024. First-year collected life premium increased 9% to $227 million. Life underwriting margin, as a percent of premium, increased to 39% for 2024 from 38%. Underwriting margin increased to $629 million in 2024, compared to $587 million for the same period in 2023.

Current wording

Life insurance premium income increased 4% to $2.44 billion over the prior-year total of $2.34 billion. Life net sales rose 9% to $450 million for the first nine months of 2024. First-year collected life premium increased 9% to $342 million. Life underwriting margin, as a percent of premium, increased to 42% for 2024 from 38% in 2023. Underwriting margin increased to $1.02 billion in 2024, compared to $887 million for the same period in 2023.

Previous wording

Health insurance premium income increased 6% to $693 million over the prior-year total of $652 million. Health net sales rose 13% to $112 million for the first six months of 2024. First-year collected health premium rose 20% to $107 million. Health underwriting margin, as a percent of premium, was 28% for 2024 and 2023. Health underwriting margin increased 6% to $194 million for the first six months of 2024, compared to the same period in 2023.

Current wording

Health insurance premium income increased 6% to $1.05 billion over the prior-year total of $983 million. Health net sales rose 11% to $171 million for the first nine months of 2024. First-year collected health premium rose 21% to $165 million. Health underwriting margin, as a percent of premium, was 27% for 2024 and 29% for 2023. Health underwriting margin increased slightly to $281 million for the first nine months of 2024, compared to the same period in 2023.

Previous wording

Excess investment income, the measure of profitability of our investment segment, increased 43% during the first six months of 2024 to $86.6 million from $60.6 million in the same period in 2023. Excess investment income per common share, reflecting the impact of our share repurchase program and increased net investment income, increased 50% to $0.93 from $0.62 when compared with the same period in 2023.

Current wording

Excess investment income, the measure of profitability of our investment segment, increased 33% during the first nine months of 2024 to $126 million from $95 million in the same period in 2023. Excess investment income per common share, reflecting the impact of our share repurchase program and increased net investment income, increased 41% to $1.38 from $0.98 when compared with the same period in 2023.

Previous wording

Insurance administrative expenses increased 9% in 2024 when compared with the prior-year period. These expenses were 7.0% as a percent of premium during 2024 compared to 6.8% in 2023.

Current wording

Insurance administrative expenses increased 12% in 2024 when compared with the prior-year period. These expenses were 7.2% as a percent of premium during 2024 compared to 6.7% in 2023.

Previous wording

For the six months ended June 30, 2024, the Company repurchased 4.0 million Globe Life Inc. shares at a total cost of $330 million for an average share price of $83.17.

Current wording

For the nine months ended September 30, 2024, the Company repurchased 9.7 million Globe Life Inc. shares at a total cost of $910 million for an average share price of $93.36.

Previous wording

Life insurance is the Company's predominant segment. During 2024, life premium represented 70% of total premium and life underwriting margin represented 76% of the total underwriting margin. Additionally, investments supporting the reserves for life products produce the majority of excess investment income attributable to the investment segment.

Current wording

Life insurance is the Company's predominant segment. During 2024, life premium represented 70% of total premium and life underwriting margin represented 78% of the total underwriting margin. Additionally, investments supporting the reserves for life products produce the majority of excess investment income attributable to the investment segment.

Previous wording

Net policy obligations amounted to 39% of premium for the six months ended June 30, 2024 compared to 41% in the year ago period.

Current wording

Net policy obligations amounted to 36% of premium for the nine months ended September 30, 2024 compared to 41% in the year-ago period. This improvement was primarily due to the assumptions review of lapses, mortality, and morbidity resulting in a remeasurement gain of $56.8 million compared to a remeasurement loss of $2.0 million for the nine months ended September 30, 2024 and 2023, respectively. Refer to Note 6—Policy Liabilities for further discussion of the Company's annual assumptions review.

Previous wording

Annualized life premium in force was $3.27 billion at June 30, 2024, an increase of 4% over $3.14 billion a year earlier.

Current wording

Annualized life premium in force was $3.29 billion at September 30, 2024, an increase of 4% over $3.17 billion a year earlier.

Previous wording

The American Income Life Division markets to members of labor unions and other affinity groups and continues to diversify its lead sources, utilizing third-party internet vendor leads and obtaining referrals to facilitate sustainable growth. This Division is Globe Life's largest contributor of life premium of any distribution channel at 52% of the Company's June 30, 2024 total life premium. For the six months ended June 30, 2024, the average monthly life premium issued per policy was $57 as compared to $53 for the same period in the prior year. Net sales were $192 million for the six months ended June 30, 2024, up from $165 million in the year-ago period. The underwriting margin, as a percent of premium, was 45% for the six months ended June 30, 2024 and 2023.

Current wording

The American Income Life Division markets to members of labor unions and other affinity groups and continues to diversify its lead sources, utilizing third-party internet vendor leads and obtaining referrals to facilitate sustainable growth. This Division is Globe Life's largest contributor of life premium of any distribution channel at 52% of the Company's September 30, 2024 total life premium. For the nine months ended September 30, 2024, the average monthly life premium issued per policy was $56 as compared to $53 for the same period in the prior year. Net sales were $289 million for the nine months ended September 30, 2024, up from $246 million in the year-ago period. The underwriting margin, as a percent of premium, was 47% for the nine months ended September 30, 2024 up from 45% in the year ago period.

Previous wording

Below is the average producing agent count for the six months ended June 30, 2024 for the American Income Life Division. The average producing agent count is based on the actual count at the beginning and end of each week during the year. The average producing agent count increased 14% over the year-ago period, and over 65% of the Division's net sales are driven by agents that have been producing for the Division for 6 months or more. The increase in average producing agent count was driven by an increase in new agent recruiting along with continued improvement in new agent retention. Sales growth in this Division, as well as within our other exclusive agencies, is generally dependent on growth in the size of the agency force.

Current wording

Below is the average producing agent count for the nine months ended September 30, 2024 for the American Income Life Division. The average producing agent count is based on the actual count at the beginning and end of each week during the year. The average producing agent count increased 12% over the year-ago period, and over 65% of the Division's net sales are driven by agents that have been producing for the Division for 6 months or more. The increase in average producing agent count was driven by an increase in new agent recruiting along with continued improvement in new agent retention. Sales growth in this Division, as well as within our other exclusive agencies, is generally dependent on growth in the size of the agency force.

Previous wording

DTC net sales declined 8% to $59 million for the six months ended June 30, 2024 compared with $64 million for the same period in the prior year. This decline is due primarily to reductions in direct mail and mailing insert marketing activity resulting from the impact of inflation on postage, paper and online advertising costs. While total sales have declined, the focus has been on improving profitability and improving the underwriting margin. DTC’s underwriting margin, as a percent of premium, was 25% for the six months ended June 30, 2024 compared with 23% for the same period in 2023.

Current wording

DTC net sales declined 8% to $83 million for the nine months ended September 30, 2024 compared with $91 million for the same period in the prior year. This decline is due primarily to the management of direct mail and mailing insert marketing activity resulting from the impact of inflation on postage, paper and online advertising costs. While total sales have declined, the focus has been on improving profitability and improving the underwriting margin. DTC’s underwriting margin, as a percent of premium, was 28% for the nine months ended September 30, 2024 compared with 24% for the same period in 2023.

Previous wording

The Liberty National Division markets individual life insurance to middle-income household and worksite customers. Recent investments in new sales technologies as well as recent growth in middle management within the agency are expected to help continue this growth. The underwriting margin as a percent of premium was 34% for the six months ended June 30, 2024, up from 33% during the same period a year ago. The increase isprimarily attributable toincreased premiums and lower policy obligations as a percent of premium, duringthe first six months of 2024 as compared to same period in 2023. For the six months ended June 30, 2024, the average monthly life premium per policy issued was $43 the same as in the prior year period.

Current wording

The Liberty National Division markets individual life insurance to middle-income household and worksite customers. Recent investments in new sales technologies as well as recent growth in middle management within the agency are expected to help continue this growth. The underwriting margin as a percent of premium was 38% for the nine months ended September 30, 2024, up from 32% during the same period a year ago. The increase isprimarily attributable toincreased premiums and lower policy obligations as a percent of premium duringthe first nine months of 2024 as compared to same period in 2023. For the nine months ended September 30, 2024, the average monthly life premium per policy issued was $43 down slightly from the prior year period.

Previous wording

Net sales rose 5% in the six months ended June 30, 2024 over the same period in 2023 due primarily to increased agent count.

Current wording

Net sales rose 4% in the nine months ended September 30, 2024 over the same period in 2023 due primarily to increased agent count.

Previous wording

Below is the average producing agent count for the six months ended June 30, 2024 and 2023 for the Liberty National Division. The average producing agent count is based on the actual count at the beginning and end of each week during the year.

Current wording

Below is the average producing agent count for the nine months ended September 30, 2024 and 2023 for the Liberty National Division. The average producing agent count is based on the actual count at the beginning and end of each week during the year.

Previous wording

The Other agency distribution channels primarily include non-exclusive independent agencies selling primarily life insurance. The other distribution channels contributed $102 million of life premium income, or 6% of Globe Life's total life premium income in the six months ended June 30, 2024, and contributed 1% of net sales for the period.

Current wording

The Other agency distribution channels primarily include non-exclusive independent agencies selling primarily life insurance. The other distribution channels contributed $153 million of life premium income, or 6% of Globe Life's total life premium income in the nine months ended September 30, 2024, and contributed 2% of net sales for the period.

Previous wording

Health premium accounted for 30% of our total premium in 2024, while the health underwriting margin accounted for 24% of total underwriting margin. Health underwriting margin increased 6% to $194 million compared to $184 million in the prior year. The Company continues to emphasize life insurance sales relative to health due to life’s superior long-term profitability and its greater contribution to excess investment income.

Current wording

Health premium accounted for 30% of our total premium in 2024, while the health underwriting margin accounted for 22% of total underwriting margin. Health underwriting margin increased slightly to $281 million compared to $280 million in the prior year. While the Company continues to emphasize life insurance sales relative to health due to life’s superior long-term profitability and its greater contribution to excess investment income, the health business provides a significant contribution to return on equity as it does not require a substantial amount of up-front capital.

Previous wording

Premium related to limited-benefit supplemental health products comprise $388 million, or 56%, of the total health premiums for the six months ended June 30, 2024, compared with $366 million, or 56%, in the same period in the prior year. Premium from Medicare Supplement products comprises the remaining $305 million, or 44%, for the six months ended June 30, 2024, compared with $286 million, or 44%, in the same period in the prior year.

Current wording

Premium related to limited-benefit supplemental health products comprise $586 million, or 56%, of the total health premiums for the nine months ended September 30, 2024, compared with $553 million, or 56%, in the same period in the prior year. Premium from Medicare Supplement products comprises the remaining $461 million, or 44%, for the nine months ended September 30, 2024, compared with $430 million, or 44%, in the same period in the prior year.

Previous wording

Annualized health premium in force was $1.44 billion at June 30, 2024, an increase of 7% over $1.34 billion a year earlier.

Current wording

Annualized health premium in force was $1.45 billion at September 30, 2024, an increase of 7% over $1.36 billion a year earlier.

Previous wording

Health net sales related to limited-benefit supplemental health products comprise $84 million, or 75%, of the total health net sales for the six months ended June 30, 2024, compared with $77 million, or 78%, in the same period in the prior year. Medicare Supplement sales make up the remaining $28 million, or 25%, for 2024 compared with $22 million, or 22%, in the same period in the prior year.

Current wording

Health net sales related to limited-benefit supplemental health products comprise $130 million, or 76%, of the total health net sales for the nine months ended September 30, 2024, compared with $121 million, or 79%, in the same period in the prior year. Medicare Supplement sales make up the remaining $41 million, or 24%, for 2024 compared with $33 million, or 21%, in the same period in the prior year.

Previous wording

First-year collected premium related to limited-benefit supplemental health products is $77 million, or 72%, of total first-year collected premium for the six months ended June 30, 2024 compared with $64 million, or 71%, in the same period in the prior year. First-year collected premium from Medicare Supplement policies make up the remaining $30 million, or 28%, for the six months ended June 30, 2024 compared with $25 million, or 29%, in the same period in the prior year.

Current wording

First-year collected premium related to limited-benefit supplemental health products is $119 million, or 72%, of total first-year collected premium for the nine months ended September 30, 2024 compared with $98 million, or 72%, in the same period in the prior year. First-year collected premium from Medicare Supplement policies make up the remaining $46 million, or 28%, for the nine months ended September 30, 2024 compared with $38 million, or 28%, in the same period in the prior year.

Previous wording

The United American Division consists of non-exclusive independent agencies who may also sell for other companies. The United American Division was Globe Life's largest health agency in terms of health premium income, with net sales up 22% from the same period in the prior-year period.

Current wording

The United American Division consists of non-exclusive independent agencies who may also sell for other companies. The United American Division was Globe Life's largest health agency in terms of health premium income, with net sales up 14% from the same period in the prior year.

Previous wording

The majority of the premium revenue comes from Medicare Supplement. Underwriting margin as a percent of premium for the Division was 10% for the six months ended June 30, 2024 and 2023.

Current wording

The majority of the premium revenue comes from Medicare Supplement. Underwriting margin as a percent of premium for the Division was 10% for the nine months ended September 30, 2024 and 11% for the same period in 2023.

Previous wording

The Family Heritage Division primarily markets limited-benefit supplemental health insurance in non-urban areas. Most of its policies include a cash-back feature, such as a return of premium, where any excess of premiums over claims paid is returned to the policyholder at the end of a specified period stated within the insurance policy. Underwriting margin as a percent of premium was 35% for the six months ended June 30, 2024 compared with 33% in 2023.

Current wording

The Family Heritage Division primarily markets limited-benefit supplemental health insurance in non-urban areas. Most of its policies include a cash-back feature, such as a return of premium, where any excess of premiums over claims paid is returned to the policyholder at the end of a specified period stated within the insurance policy. Underwriting margin as a percent of premium was 34% for the nine months ended September 30, 2024 and 2023.

Previous wording

The Division experienced a 9% rise in health net sales as compared with the six-month period a year ago, primarily due to improved agent productivity and training. The Division will continue to implement incentive and retention programs to further these increases in the number of producing agents.

Current wording

The Division experienced a 11% rise in health net sales as compared with the nine-month period a year ago, primarily due to improved agent productivity and training. The Division will continue to implement incentive and retention programs to further these increases in the number of producing agents.

Previous wording

Below is the average producing agent count at the end of the period for the Family Heritage Division. The average producing agent count is based on the actual count at the beginning and end of each week during the year. The average producing agent count was flat compared with the same period a year ago; however, the Division has recently increased efforts to grow agent count and middle management. While growth in net sales and earned premium is impacted by agent productivity, growth in the number of average producing agents is what will ultimately be the primary driver of future growth in sales, similar to our other exclusive agencies.

Current wording

Below is the average producing agent count at the end of the period for the Family Heritage Division. The average producing agent count is based on the actual count at the beginning and end of each week during the year. The average producing agent count was slightly higher than compared with the same period a year ago. The Division has recently increased efforts to grow agent count and middle management. While growth in net sales and earned premium is impacted by agent productivity, growth in the number of average producing agents is what will ultimately be the primary driver of future growth in sales, similar to our other exclusive agencies.

Previous wording

The Liberty National Division represented 14% of all Globe Life health premium income for the six months ended June 30, 2024. The Liberty National Division markets limited-benefit supplemental health products, consisting primarily of cancer and critical illness insurance. Much of Liberty National's health business is generated through worksite marketing targeting small businesses. Health premium at the Liberty National Division was $95 million for the six months ended June 30, 2024 up from $94 million for the same period in 2023. Liberty National's first-year collected premium rose 14% to $14 million in the six months ended June 30, 2024 compared with $12 million for the same period in 2023. Health net sales for the six months ended June 30, 2024 rose 5% from the comparable period in 2023, a result of the continued impact of the Division's return to face-to-face customer interaction, and the option of virtual sales. For the six months ended June 30, 2024 and 2023, underwriting margin as a percent of premium was 56% and 57%, respectively.

Current wording

The Liberty National Division represented 14% of all Globe Life health premium income for the nine months ended September 30, 2024. The Liberty National Division markets limited-benefit supplemental health products, consisting primarily of cancer and critical illness insurance. Much of Liberty National's health business is generated through worksite marketing targeting small businesses. Health premium at the Liberty National Division was $143 million for the nine months ended September 30, 2024 up from $141 million for the same period in 2023. Liberty National's first-year collected premium rose 13% to $21 million in the nine months ended September 30, 2024 compared with $19 million for the same period in 2023. Health net sales for the nine months ended September 30, 2024 rose 1% from the comparable period in 2023. For the nine months ended September 30, 2024 and 2023, underwriting margin as a percent of premium was 56%.

Previous wording

The Other agency distribution channels, while primarily focused on selling life insurance, also market health products. The American Income Life Division primarily markets accident plans. The Direct to Consumer Division primarily markets Medicare Supplements to employer or union-sponsored groups. On a combined basis, these other channels accounted for 14% of health premium for the six months ended June 30, 2024 and 2023.

Current wording

While both the American Income Life Division and the Direct to Consumer Division sell life insurance, they also market health products. The American Income Life Division primarily markets accident plans. The Direct to Consumer Division primarily markets Medicare Supplements to employer or union-sponsored groups. On a combined basis, these other channels accounted for 14% of health premium for the nine months ended September 30, 2024 and 2023.