3. INVESTMENTS

The Company owned certificates of deposit insured by the Federal Deposit Insurance Corporation (“FDIC”) with an amortized cost of $1,250,000 and $1,200,000 as of December 31, 2013 and 2012, respectively. The certificates of deposit included in short-term and fixed maturities investments are classified as available-for-sale and are carried at fair value. The Company also invests in money market funds included in short-term investments and are classified as available-for-sale, with a cost and fair value of approximately $60,000 and $93,000 as of December 31, 2013 and 2012, respectively. The Company invests in investment grade corporate bonds with an amortized cost of approximately $5,936,000 and $2,871,000 as of December 31, 2013 and 2012, respectively. The investment grade corporate bonds included in fixed maturity investments are classified as available-for-sale and are carried at fair value.

At December 31, 2013, the Company has one-hundred and eight investment grade corporate bonds, which consist of eighty-nine different securities each with a credit rating of A- or better and nineteen securities that had a credit rating of between BBB- and BBB+. The weighted average yield-to-book value of our investment grade corporate bonds was approximately 2.94% at December 31, 2013. The weighted average maturity of our investment grade corporate bonds was 5.68 years at December 31, 2013. The unrealized gains and losses on available-for-sale investments are due to a change in fair value for these investments caused primarily by changes in prevailing interest rates since they were purchased. There were no material realized gains or losses for the year ended December 31, 2013. There was approximately $40,000 of realized gains related to investments for the year ended December 31, 2012.

At December 31, 2013 and, 2012, maturity dates for fixed maturities and short-term investments (excluding the money market funds) were:


	Available-for-Sale
	Amortized Cost		Fair Value		% of Total Value
December 31, 2013
Maturity dates occurring:
Less than 1 year (Two certificates of deposit)	$	200,000	$	201,027		2.8	%
Greater than 1 year (Six certificates of deposit and one- hundred eight corporate bonds)		6,986,176		7,068,365		97.2	%

Total	$	7,186,176	$	7,269,392		100.0	%


	Available-for-Sale
	Amortized Cost		Fair Value		% of Total Value
December 31, 2012
Maturity dates occurring:
Less than 1 year (Two certificates of deposit)	$	300,000	$	300,986		7.0	%
Greater than 1 year (Six certificates of deposit and forty-four corporate bonds)		3,771,437		4,022,368		93.0	%

Total	$	4,071,437	$	4,323,354		100.0	%

Investments classified at December 31, 2013 and 2012, as fixed maturities and short-term investments were as follows:


	Available-for-Sale
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
December 31, 2013
Money market fund	$	60,217						$	60,217
Certificates of deposit, short term		200,000	$	1,027					201,027
Certificates of deposit, fixed maturities		1,050,000		8,693	$	(1,625	)		1,057,068
Corporate bonds, fixed maturities		5,936,176		128,023	$	(52,902	)		6,011,297

Total investments	$	7,246,393	$	137,743	$	(54,527	)	$	7,329,609


	Available-for-Sale
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
December 31, 2012
Money market fund	$	93,356						$	93,356
Certificates of deposit, short term		300,000	$	986					300,986
Certificates of deposit, fixed maturities		900,000		13,987					913,987
Corporate bonds, fixed maturities		2,871,437		238,351	$	(1,407	)		3,108,381

Total investments	$	4,164,793	$	253,324	$	(1,407	)	$	4,416,710

Unrealized losses at December 31, 2013 and 2012 on investments were generally due to higher current market yields relative to the yields of the investments at their amortized cost. Unrealized losses due to credit risk associated with the underlying collateral of the investments, if any, are not material. All investments with unrealized losses are reviewed quarterly to determine if any impairment is other than temporary, requiring a charge to earnings. The Company considers the severity of the loss on a security, duration of loss, duration of the investment, credit rating of the security, as well as payment performance and the Company’s intent or requirement to sell the investment before recovery when determining whether any impairment is other than temporary. The Company had no other than temporary impairment charges for the years ended December 2013, 2012 and 2011. The Company had no investments in a material unrealized loss position for greater than one year as of December 31, 2013 and 2012.