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National Western Life Group, Inc. Message Board

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  • bbarberayr bbarberayr Feb 27, 2012 6:41 PM Flag

    Why consider deferred policy acquisition costs?

    If you take a look at their 10-K, there is quite a discussion on the DAC. Basically, if policy holders cancel their policy, the penalties are such that the DAC will essentially be forfeited to the company. If they keep the policy, it is designed to included this cost as part of the policy admin fee.

    They've done a good job of manging these costs in the past, so I am confident they will continue to do so.

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    • agreed 100%.

      you look at all these other companies and they have to take these DAC charges but NWLI is very conservative in how much they push into DAC.

      other than trying to increase book value creatively thru a tender or thinking about shareholders by announcing a bigger dividend manaagement has been okay here.

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