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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income:        
Premium income $ 2,547,843 $ 2,063,015 $ 7,631,621 $ 6,983,705
Net investment income 1,066,158 442,719 2,322,169 1,303,757
Net investment gains (losses) 922,020 106,301 (437,085) 937,590
Other income 20,524 15,396 48,232 40,454
Total income 4,556,545 2,627,431 9,564,937 9,265,506
Expenses:        
Death claims 394,175 298,269 1,316,831 1,022,585
Policyholder benefits 1,301,716 962,603 3,949,421 3,267,898
Increase in policyholder reserves 962,083 560,128 2,574,776 1,997,786
Commissions, net of deferrals 164,687 157,944 536,257 571,543
Amortization of deferred acquisition costs 9,961 112,305 757,333 293,032
Amortization of value of business acquired 5,076 5,076 15,227 15,228
Salaries & benefits 263,541 270,673 780,626 773,400
Other operating expenses 383,151 217,987 1,692,054 940,502
Total expense 3,484,390 2,584,985 11,622,525 8,881,974
Net income (loss) $ 1,072,155 $ 42,446 $ (2,057,588) $ 383,532
Net income (loss) per common share, basic and diluted (in dollars per share) $ 0.14 $ 0.01 $ (0.27) $ 0.05
Unrealized net holding gains arising during the period $ 571,875 $ 993,217 $ 1,819,318 $ 2,480,863
Reclassification adjustment for (gains) losses included in net loss (9,157) (543) (68,846) 13,985
Other comprehensive income 562,718 992,674 1,750,472 2,494,848
Comprehensive income (loss) $ 1,634,873 $ 1,035,120 $ (307,116) $ 2,878,380