Note 7 - Reinsurance

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Reinsurance [Text Block]

Note 7.         Reinsurance

A summary of significant reinsurance amounts affecting the accompanying consolidated financial statements as of December 31, 2021 and 2020 and for the years ended December 31, 2021 and 2020 is listed in the following table.

	December 31, 2021			December 31, 2020
Balance Sheet
Benefits and claim reserves ceded	$	86,777		$	105,621
Amounts due (to) from ceding company		(235,629	)		59,462
Benefits and claim reserves assumed		53,774,832			53,069,522

	Years ended
Statements of Comprehensive Income (Loss)	December 31, 2021		December 31, 2020
Ceded premium	$	1,075,837	$	923,527
Assumed premium		4,301,496		4,682,634
Allowances on ceded premium		23,649		24,077
Allowances paid on assumed premium		554,388		6,765,030
Assumed benefits and policyholder reserve increases		5,291,774		5,243,836

The company currently reinsures business in excess of its retention with General Re Life Corporation, Reliance Standard Life Insurance Company, Unified Life Insurance Company, Hartford Life and Accident Company, and Optimum Re Insurance Company. The Company also currently assumes business under agreements with Unified Life Insurance Company and American Life and Security Corporation.