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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income:    
Premium income $ 2,715,761 $ 2,392,976
Net investment income 514,708 397,646
Net investment gains (losses) (1,370,761) 727,203
Other income 13,656 12,799
Total income 1,873,364 3,530,624
Expenses:    
Death claims 481,712 395,667
Policyholder benefits 1,249,083 1,136,828
Increase in policyholder reserves 923,248 680,560
Commissions, net of deferrals 206,956 219,535
Amortization of deferred acquisition costs 575,210 62,902
Amortization of value of business acquired 5,076 5,076
Salaries & benefits 263,205 251,832
Other operating expenses 872,245 402,356
Total expense 4,576,735 3,154,756
Net income (loss) $ (2,703,371) $ 375,868
Net income (loss) per common share, basic and diluted (in dollars per share) $ (0.35) $ 0.05
Unrealized net holding gains (losses) arising during the period $ (1,674,158) $ 1,245,778
Reclassification adjustment for gains included in net loss (30,873)
Other comprehensive income (loss) (1,705,031) 1,245,778
Comprehensive income (loss) $ (4,408,402) $ 1,621,646