Three Months Ended Mar 31

2017

2016

Fixed maturity securities

$2,368,710

$2,050,569

Equity securities

54,786

71,041

Mortgage loans on real estate

2,223,139

2,026,515

Real estate

2,894,331

2,838,484

Policy loans

193,734

182,206

Insurance assignments

3,364,642

3,104,788

Other investments

7,543

-

Short-term investments, principally interest on sale of mortgage loans and other

1,804,746

1,863,144

Gross investment income

12,911,631

12,136,747

Investment expenses

(3,348,349)

(3,144,556)

Net investment income

$9,563,282

$8,992,191