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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income:        
Premium income $ 2,368,017 $ 2,527,714 $ 5,083,778 $ 4,920,690
Net investment income 741,303 451,106 1,256,011 861,038
Net investment gains (losses) 11,656 104,086 (1,359,105) 831,289
Other income 14,052 12,259 27,708 25,058
Total income 3,135,028 3,095,165 5,008,392 6,638,075
Expenses:        
Death claims 440,944 328,649 922,656 724,316
Policyholder benefits 1,398,622 1,168,467 2,647,705 2,305,295
Increase in policyholder reserves 689,445 757,098 1,612,693 1,437,658
Commissions, net of deferrals 164,614 194,064 371,570 413,599
Amortization of deferred acquisition costs 172,162 117,825 747,372 180,727
Amortization of value of business acquired 5,075 5,076 10,151 10,152
Salaries & benefits 253,880 250,895 517,085 502,727
Other operating expenses 436,658 307,873 1,308,903 722,515
Total expense 3,561,400 3,129,947 8,138,135 6,296,989
Net income (loss) $ (426,372) $ (34,782) $ (3,129,743) $ 341,086
Net income (loss) per common share, basic and diluted (in dollars per share) $ (0.06) $ (0.40) $ 0.04
Unrealized net holding gains arising during the period $ 2,910,478 $ 1,327,537 $ 1,247,443 $ 2,573,315
Reclassification adjustment for (gains) losses included in net loss (17,693) 14,528 (59,689) 14,528
Other comprehensive income 2,892,785 1,342,065 1,187,754 2,587,843
Comprehensive income (loss) $ 2,466,814 $ 1,307,283 $ (1,941,989) $ 2,928,929