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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Premium income $ 2,860,039 $ 2,547,843 $ 9,212,137 $ 7,631,621
Net investment income 1,511,555 1,066,158 4,143,127 2,322,169
Net investment gains (losses) (276,532) 922,020 (202,742) (437,085)
Other income 80,497 20,524 237,901 48,232
Total income 4,175,559 4,556,545 13,390,423 9,564,937
Expenses:        
Death claims 600,819 394,175 1,702,615 1,316,831
Policyholder benefits 1,334,405 1,301,716 4,783,193 3,949,421
Increase in policyholder reserves 977,997 962,083 3,310,238 2,574,776
Commissions, net of deferrals 169,075 164,687 542,536 536,257
Amortization of deferred acquisition costs 361,833 9,961 916,698 757,333
Amortization of value of business acquired 23,105 5,076 69,315 15,227
Salaries & benefits 352,421 263,541 890,615 780,626
Other operating expenses 422,753 383,151 1,363,578 1,692,054
Total expense 4,242,408 3,484,390 13,578,788 11,622,525
Net income (loss) $ (66,849) $ 1,072,155 $ (188,365) $ (2,057,588)
Net income (loss) per common share, basic and diluted (in dollars per share) $ 0.01 $ (0.14) $ 0.02 $ 0.27
Unrealized net holding gains (losses) arising during the period $ (201,627) $ 571,875 $ (987,801) $ 1,819,318
Reclassification adjustment for gains included in net income (loss) (2,403) (9,157) (115,452) (68,846)
Other comprehensive income (loss) (204,030) 562,718 (1,103,253) 1,750,472
Comprehensive income (loss) $ (270,879) $ 1,634,873 $ (1,291,618) $ (307,116)