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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income:    
Premium income $ 9,076,205 $ 8,807,779
Net investment income 1,790,601 1,477,403
Net investment gains (losses) 1,042,334 (4,499)
Gain on bargain purchase 1,140,996
Other income 57,146 37,608
Total income 11,966,286 11,459,287
Expenses:    
Death claims 1,287,893 959,005
Policyholder benefits 4,212,534 3,957,090
Increase in policyholder reserves 2,599,575 2,766,169
Commissions, net of deferrals 783,724 637,425
Amortization of deferred acquisition costs 433,218 454,906
Amortization of value of business acquired 20,303 20,304
Salaries & benefits 1,081,955 1,152,728
Other operating expenses 1,379,034 1,967,796
Total expense 11,798,236 11,915,423
Income (loss) before total federal income tax expense (benefit) 168,050 (456,136)
Deferred federal income tax benefit 431,158
Total federal income tax benefit 431,158
Net lncome (loss) $ 599,208 $ (456,136)
Net income (loss) per common share, basic and diluted (in dollars per share) $ 0.08 $ (0.06)
Unrealized net holding gains (losses) arising during the period $ 3,420,928 $ (2,594,366)
Reclassification adjustment for (gains) losses included in net income (loss) (5,764) 4,499
Other comprehensive income (loss) 3,415,164 (2,589,867)
Comprehensive income (loss) $ 4,014,372 $ (3,046,003)