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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income:        
Premium income $ 2,527,714 $ 2,442,384 $ 4,920,690 $ 4,874,480
Net investment income 451,106 377,624 861,038 700,770
Net realized gain (loss) on sale of securities (14,528) (327) (14,528) (327)
Unrealized gain on equity securites 118,614 845,817 0
Other income 12,259 6,748 25,058 15,994
Total income 3,095,165 2,826,429 6,638,075 5,590,917
Expenses:        
Death claims 328,649 168,838 724,316 404,212
Policyholder benefits 1,168,467 1,188,097 2,305,295 2,315,779
Increase in policyholder reserves 757,098 710,976 1,437,658 1,507,612
Commissions, net of deferrals 194,064 167,821 413,599 319,978
Amortization of deferred acquisition costs 117,825 120,259 180,727 210,614
Amortization of value of business acquired 5,076 5,076 10,152 10,152
Salaries & benefits 250,895 268,492 502,727 543,340
Other operating expenses 307,873 373,698 722,515 858,816
Total expense 3,129,947 3,003,257 6,296,989 6,170,503
Net lncome (loss) $ (34,782) $ (176,828) $ 341,086 $ (579,586)
Net income (loss) per common share, basic and diluted (in dollars per share) $ 0 $ (0.02) $ 0.04 $ (0.08)
Unrealized net holding gains (losses) arising during the period $ 1,327,537 $ (515,501) $ 2,573,315 $ (1,504,447)
Cumulative effect, adoption of accounting guidance on equity securities 1,098,760 0
Reclassification adjustment for (gains) losses included in net loss 14,528 327 14,528 327
Other comprehensive income (loss) 1,342,065 (515,174) 3,686,603 (1,504,120)
Comprehensive income (loss) $ 1,307,283 $ (692,002) $ 4,027,689 $ (2,083,706)