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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Premium income $ 3,304,921 $ 2,368,017 $ 6,352,098 $ 5,083,778
Net investment income 1,332,580 741,303 2,631,572 1,256,011
Net investment gains (losses) 191,122 11,656 73,790 (1,359,105)
Other income 77,974 14,052 157,402 27,708
Total income 4,906,597 3,135,028 9,214,862 5,008,392
Expenses:        
Death claims 530,632 440,944 1,101,796 922,656
Policyholder benefits 1,745,769 1,398,622 3,448,788 2,647,705
Increase in policyholder reserves 1,145,738 689,445 2,332,241 1,612,693
Commissions, net of deferrals 194,253 164,614 373,461 371,570
Amortization of deferred acquisition costs 284,808 172,162 554,865 747,372
Amortization of value of business acquired 23,105 5,075 46,210 10,151
Salaries & benefits 282,167 253,880 538,195 517,085
Other operating expenses 485,422 436,658 940,820 1,308,903
Total expense 4,691,894 3,561,400 9,336,376 8,138,135
Net income (loss) $ 214,703 $ (426,372) $ (121,514) $ (3,129,743)
Net income (loss) per common share, basic and diluted (in dollars per share) $ (0.03) $ 0.06 $ 0.02 $ 0.40
Unrealized net holding gains (losses) arising during the period $ 1,493,525 $ 2,910,478 $ (786,174) $ 1,247,443
Reclassification adjustment for gains included in net gains (losses) (126,899) (17,693) (113,049) (59,689)
Other comprehensive income (loss) 1,366,626 2,892,785 (899,223) 1,187,754
Comprehensive income (loss) $ 1,581,329 $ 2,466,413 $ (1,020,737) $ (1,941,989)