Question-and-Answer Session
Operator
(Operator Instructions) Our first question is from Keith Walsh - Citigroup.
Keith Walsh - Citigroup
First question is just around the mortality shortfall, may be if you give us a little more color around that. Was -- the number of policies that we are talking about is it a small number, also by policy year and anything -- any color you can give us around that and then secondly what’s your current risk based capital ratio? Thanks.
James Noyce
Hi, Keith, this is Jim. In general we saw the numbers of policies in terms of death claims and in terms of perm as I said we are at record levels of -- any time in the history we could go back and find -- we also had universal life and VUL accounts that were up. Total claims would be -- I expect to leave a record for the company, but the actual death benefits we have seen a higher face amount sometime in -- it’s been a while and I think it was third quarter of '06; we actually had a higher death benefit claim number. In terms of the year of issue, I don’t have the breakdown of that available to me Keith.
Keith Walsh – Citigroup
So, this is more just total number of claims than?
James Noyce
It really was a frequency issue this quarter and the claim side, a bit smaller than we have had on average, that really means that we didn’t have a reinsurance numbers to retain all of it.
Keith Walsh - Citigroup
Okay. That’s helpful and then risk based capital ratio?
Don Seibel
Yes Keith this is Don Seibel. Farm Bureau Life's risk based capital at the company action level was 407. At the end of 2007 we estimate that to be 405, at the end of first quarter of 2008, EquiTrust Life was a 428 and we estimate that down to 380 at the end of March.
Operator
Thank you, we will go to next to Steven Schwartz with Raymond James & Associates.
Steven Schwartz - Raymond James & Associates
Hey, good morning everybody. Could you, I have got three questions. If you can help me out here, I’m trying to figure out the statement of benefits being of $5 million from 25 to; was strength up to $29.4 million with your income statement. Where does that show up? I’m looking at traditional life insurance benefits which look to be up about $2.5 million or so and then traditional life future policy benefits which seem to be up about $4 million?
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