2021-11-11T02:27:09-06:00 2020-12-31 ERNST & YOUNG US LLP 101 E WASHINGTON STREET STE 910 PHOENIX AZ 85004 990 2020-01-01 740548665 Catholic Life Insurance % COLLEEN Z BERGER CATH 2108289921 1635 NE LOOP 410 SUITE 400 SAN ANTONIO TX 78209 COLLEEN Z BERGER SVP/CFO 2108289921 2021-11-09 true COLLEEN Z BERGER 999009999 PATRICK SHIELDS P01508556 6023223000 2 2020 2022-09-23 18:48:47Z COLLEEN Z BERGER SAME AS C ABOVE SAN ANTONIO TX 78209 242213616 false X CLIU.COM X 1901 TX Catholic Life Insurance is a fraternal benefit society that offers life insurance, retirement products and Medicare supplement insurance. 9 8 76 415 0 0 0 0 51904085 65994175 52162669 48805369 938630 501553 105005384 115301097 0 0 75108026 77323417 6811479 6364192 0 0 0 17200335 28799101 99119840 112486710 5885544 2814387 1207953221 1234007036 1104699746 1128176219 103253475 105830817 CATHOLIC LIFE INSURANCE IS A FRATERNAL BENEFIT SOCIETY THAT OFFERS LIFE INSURANCE, RETIREMENT PRODUCTS AND MEDICARE SUPPLEMENT INSURANCE. false false Catholic Life Insurance is a fraternal benefit society that offers life insurance, retirement products and Medicare supplement insurance. false false false false false false false false false true false false false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 27753 0 true 76 true false false false false false false false false false false false false X 9 8 false false true false true true true true true false true true false true true true true true true true false X COLLEEN Z BERGER 2108289921 1635 NE LOOP 410 SUITE 400 SAN ANTONIO TX 78209 X Joseph Michael Belz President/CEO 38.5 0.0 X X 582237 0 160095 John Michael Luksa SVP/Director of Sales 38.5 0.0 X 203287 0 51293 Colleen Z Berger SVP/CFO 38.5 0.0 X 204572 0 46543 Michael A Nance VP/Treasurer 38.5 0.0 X 167635 0 40228 Scott D Brant SVP/Information Technologies 38.5 0.0 X 162272 0 29500 Frank Gentile SVP/Chief Underwriter 38.5 0.0 X 155785 0 30778 Barbara A Cheaney SVP/Marketing-Communications 38.5 0.0 X 138154 0 38670 Dawn C Fanfelle VP/Human Resources & Training 38.5 0.0 X 115914 0 12938 Tricia D Michalek VP/Operations 38.5 0.0 X 101638 0 9613 Michael C Stolowski Director 4.0 0.0 X 20080 0 0 Tommy J Hoelscher Director (Termed 9/2020) 4.0 0.0 X 19807 0 0 Felix J Skarpa Director 4.0 0.0 X 18763 0 0 Robert L Moczygemba Sr Director 4.0 0.0 X 17805 0 0 Cynthia Travis-Olson Director 4.0 0.0 X 17605 0 0 Jo Ann Shimek Director 4.0 0.0 X 17605 0 0 Charles L Hughes Jr Director 4.0 0.0 X 17155 0 0 Sandra T King Director (Termed 9/2020) 4.0 0.0 X 12650 0 0 Dennis R Matthiesen Director 4.0 0.0 X 6845 0 0 Ronnie W Kadlacek Director 4.0 0.0 X 6595 0 0 1986404 0 419658 10 false true false Wellington Management Co LLP 75 State Street BOSTON MA 02109 Investment MGMT 750402 Allen Bailey Associates Inc 8310 Capital of TX Hwy Ste 370 AUSTIN TX 78731 Actuarial Services 296066 Eugene Smart 5889 S Braeswood Blvd HOUSTON TX 77096 Independent Agent 451492 The Sabinal Group 237 W Travis 200 SAN ANTONIO TX 78205 Construction 653872 ERNST YOUNG US LLP 200 PLAZA DRIVE SECAUCUS NJ 07094 Indp. Audit srvc 264727 19 0 INS. PREMIUMS & ANNUITY CONSIDERATIONS 524114 65994175 65994175 65994175 50471700 50471700 0 0 885038 1482039 -597001 0 -597001 -597001 123764149 125430480 -1666331 -1666331 -1666331 0 0 0 0 0 0 0 0 0 AMORTIZATION OF IMR 524114 1098554 1098554 1098554 115301097 65994175 49306922 0 0 0 77323417 1610800 0 3481751 252391 665935 353315 0 31291 688756 0 0 988193 104717 279636 977031 111866 0 151637 50106 0 364673 0 0 906951 117786 INCREASE IN POLICY RSV 20294923 COMMISSIONS 2960361 FRAT EXP. & BRANCH FUNDING 351940 ALL OTHER EXPENSES 419234 112486710 30752765 8867941 0 0 0 0 11705560 12014561 0 0 0 0 5905183 5744111 0 0 0 0 15673217 9374556 6043831 6298661 1151134862 1188885365 2246720 12019342 0 0 0 0 164300 177055 1207953221 1234007036 1691626 1665276 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1103008120 1126510943 1104699746 1128176219 X 0 0 0 0 0 0 103253475 105830817 1207953221 1234007036 X 2814387 185384 -422429 X X false true X true false 11357683 5502774 5854909 3434272 3131793 302479 881262 739989 141273 6298661 0 AGGREGATE RESERVE FOR LIFE 1084816570 AGGREGATE RESERVE FOR ACCIDENT 338 LIABILITY FOR DEPOSIT-TYPE CONTRACT 15505114 CONTRACT CLAIMS - LIFE 11866009 CONTRACT CLAIMS - ACCIDENT AND HEALTH 10747 PREMIUMS AND ANNUITY CONSIDERATIONS 1012963 CONTRACT LIABILITIES NOT INCLUDED ELSEWHERE 3196324 UNEARNED INVESTMENT INCOME 184385 AMOUNTS WITHHELD OR RETAINED BY SOCIETY 33210 REMITTANCES AND ITEMS NOT ALLOCATED 63066 LIABILITY FOR BENEFITS FOR EMPLOYEES 894840 MISCELLANEOUS LIABILITIES - ASSET VALUATION RESERVE 6197344 AGGREGATE WRITE-INS FOR LIABILITIES 2730033 1126510943 115624433 -1342995 -1342995 116967428 -1666331 -1666331 115301097 111143715 111143715 1342995 1342995 112486710 SCHEDULE D, PART XI, LINE 2D REAL ESTATE AND INVESTMENT EXPENSE RECLASSES SCHEDULE D, PART XI, LINE 4B NET LOSS FROM THE SALE OF ASSETS SCHEDULE D, PART XII, LINE 4B REAL ESTATE AND INVESTMENT EXPENSE RECLASSES X X true true X X X X false true false Joseph Michael Belz President/CEO 500337 0 67670 0 14230 0 138674 0 21421 0 742332 0 0 0 John Michael Luksa SVP/Director of Sales 173332 0 26556 0 3399 0 14067 0 37226 0 254580 0 0 0 Colleen Z Berger SVP/CFO 189095 0 13988 0 1489 0 22382 0 24161 0 251115 0 0 0 Michael A Nance VP/Treasurer 152595 0 6999 0 8041 0 8145 0 32083 0 207863 0 0 0 Scott D Brant SVP/Information Technologies 147490 0 11324 0 3458 0 16697 0 12803 0 191772 0 0 0 Frank Gentile SVP/Chief Underwriter 144847 0 9449 0 1489 0 16450 0 14328 0 186563 0 0 0 Barbara A Cheaney SVP/Marketing-Communications 127825 0 8591 0 1738 0 15472 0 23198 0 176824 0 0 0 Schedule J, Part I, LINE 1A A companion may travel with employee to business function. Cost of companion is paid by employee unless there are events within the business function suggesting the companion attend. If so, one-half of cost is paid by employee. Social club dues are paid for use by President/CEO for networking. Expenses related to personal usage are reimbursed by President/CEO. Schedule J, Part I, Line 4B The President/CEO participates in a SERP. A scheduled portion was paid to him during 2020. This was included in taxable income in 2018. Form 990, Part VI, LINE 4 Effective September 12, 2020 the bylaws of the organization were amended to reflect changes to articles related to the elections of officers, and board of director requirements, composition and powers. Form 990, Part VI, Line 6 The organization has members. Form 990, Part VI, Line 7a The organization has members who may elect one or more members of the governing body. The decisions of the governing body are subject to approval by the members. Form 990, Part VI, Line 7b The decisions of the governing body are subject to the approval by the members. For example, proposed changes to the bylaws are brought before the delegates, who represent the membership, for approval at bi-annual conventions. Proposed changes may include the Society's name change or re-location, or a possible merger with or acquisition of another entity. Form 990, Part VI, Line 11B An outside firm completes the Catholic Life Insurance Form 990 based on information provided by the CLI Accounting Department. Once complete, a detailed review of the specific amounts within the return are reviewed by the CFO. The President/CEO performs a very general overview of selected parts of the return. Form 990, Part VI, Line 12c Each officer and director is required to complete a conflict of interest form annually. The President/CEO reviews each form. Form 990, Part VI, Line 15a The Board of Directors determine the compensation of the President/CEO. The Compensation Committee of the Board reviews the most recent LOMA Executive Compensation Survey. Include in this survey are salary comparisons of fraternal benefit societies and other comparable companies within various positions and company size. The Compensation Committee reviews and submits a recommendation for salary and performance bonus of the President/CEO to the Board of Directors for approval. Compensation Committee recommendations are discussed by the entire Board of Directors and actions taken are documented in the Board meeting minutes. These Board meeting minutes are kept in the home office. The 2020 review was performed in March 2020. Form 990, Part VI, Line 15b Recommendations of compensation to be paid to all officers are submitted by the President/CEO to the Compensation Committee for their review and submission to the Board of Directors for approval. Compensation recommendations for officers are based on the most recent LOMA Executive Compensation Survey. Compensation Committee recommendations are discussed by the entire Board of Directors and actions taken are documented in the Board meeting minutes. These minutes are kept in the home office. The 2020 review was performed in March 2020. Form 990, Part VI, Line 19 The governing documents, conflict of interest policy, and financial statements are available from the home office to the public upon request. Form 990, Part XI, Line 9 OTHER CHANGES IN NET ASSETS Change in non-admitted assets $ 730,588 Change in asset valuation reserve 505,788 Increase of defined benefit plan liability (1,004,344) Net of amounts transferred to the IMR (654,461) ------------------------------------------ TOTAL OTHER CHANGES IN NET ASSETS $ (422,429) Form 990, Part XII, Line 1 The financial statements of Catholic Life Insurance are presented on the basis of accounting practices prescribed and permitted by the Texas Department of Insurance.(TDI) The TDI recognizes only statutory accounting practices prescribed or permitted by the state of Texas for determining and reporting the financial condition and results of operations of an insurance company, for determining its solvency under the Texas Insurance Law.