Table of Contents CITIZENS, INC. Realized Gains (Losses) on Investments. Realized investment gains and losses are as follows: In 2019, we recognized a gain of $1.9 million related to the redemption of two fixed maturity securities. We also recorded a realized gain of $5.5 million relating to the sale of our former corporate headquarters. In addition, we recorded realized gains of $1.0 million during 2019 related to fair value changes in our equity securities owned at December 31, 2019. Finally, an impairment loss of $3.1 million was recorded in connection with classifying our Citizens Academy training facility located near Austin, Texas as real estate held for sale. In 2018, realized gains of $1.8 million and realized losses of $0.8 million were recorded related to our fixed maturity and equity portfolios, respectively, along with investment losses recorded from OTTI of $0.8 million relating to fixed maturity securities that we did not intend to hold until recovery in value. December 31, 2019 | 10-K 34 Years ended December 31, (In thousands) 2019 2018 2017 Realized investment gains (losses): Sales, calls and maturities: Fixed maturities $ 1,927 1,792 (506) Equity securities — — 121 Real estate 5,513 — 1,110 Property and equipment (48) (80) — Realized investment gains 7,392 1,712 725 Change in fair value of equity securities 962 (828) — Other-than-temporary impairments ("OTTI"): Fixed maturities — (776) — Equity securities — — (207) Real estate held for sale (3,105) — — Realized losses on OTTI (3,105) (776) (207) Net realized investment gains $ 5,249 108 518 BENEFITS AND EXPENSES Years ended December 31, (In thousands) 2019 2018 2017 Benefits and expenses: Insurance benefits paid or provided: Claims and surrenders $ 106,827 91,103 82,905 Increase in future policy benefit reserves 41,712 47,947 76,029 Policyholders' dividends 6,040 6,362 6,268 Total insurance benefits paid or provided 154,579 145,412 165,202 Commissions 34,222 34,962 41,324 Other general expenses 48,440 47,632 46,388 Capitalization of deferred policy acquisition costs (22,255) (22,695) (29,120) Amortization of deferred policy acquisition costs 28,268 34,235 29,690 Amortization of cost of insurance acquired 1,546 2,458 2,129 Total benefits and expenses $ 244,800 242,004 255,613