Torchmark Corp is an insurance holding company incorporated in Delaware on November 29, 1979. The Company markets individual life, and supplemental health insurance to middle income households throughout the United States. It views its operations by segments, which are the insurance product lines of life, health, and annuities, and the investment segment that supports the product lines. The insurance product line segments involve the marketing, underwriting, and the administration of policies. Each product line is further segmented by the various distribution units that market the insurance policies. Each distribution unit operates in a niche market offering insurance products designed for that particular market. The investment segment involves the management of its capital resources, including investments and the management of corporate debt and liquidity. Life insurance products include traditional and interest-sensitive whole life insurance as well as term life insurance. Health insurance products are generally guaranteed-renewable and include Medicare Supplement, critical illness, accident, long-term care, and limited-benefit supplemental hospital and surgical coverages. Annuities include fixed-benefit contracts. The Company markets its insurance products through a number of distribution channels, each of which sells the products of one or more of its insurance segments. The Company offers limited-benefit supplemental health insurance products that include critical illness and accident plans. Annuity products include single-premium and flexible-premium deferred annuities. The Company competes with other insurance carriers through policyholder service, price, product design, and sales efforts. The health insurance products compete with, in addition to the products of other health insurance carriers, health maintenance organizations, preferred provider organizations, and other health care-related institutions which provide medical benefits based on contractual agreements.