Income Tax Matters (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Matters [Abstract]

Schedule of Deferred Tax Assets and Liabilities

	December 31, 2013			December 31, 2012
Deferred tax assets:
Loss carryforwards	$	6,594,919		$	6,061,739
Capitalized costs		821,248			898,240
Unrealized losses on investments		252,196			28,181
Benefit reserves		1,235,692			1,157,055
Total deferred tax assets		8,904,055			8,145,215
Less valuation allowance		(7,132,984	)		(6,208,648	)
Total deferred tax assets, net of valuation allowance		1,771,071			1,936,567
Deferred tax liabilities:
Policy acquisition costs		978,902			1,018,676
Due premiums		222,067			278,842
Value of business acquired		279,402			327,949
Intangible assets		238,000			238,000
Property and equipment		52,700			73,100
Total deferred tax liabilities		1,771,070			1,936,567
Net deferred tax assets	$	-		$	-

Schedule of Effective Tax Rate Reconciliation

	Year Ended December 31,
	2013			2012
Computed expected income tax benefit	$	(669,045	)	$	(563,614	)
Increase (reduction) in income taxes resulting from:
Meals, entertainment and political contributions		29,497			21,585
Dividends received deduction		(5,452	)		(20,284	)
True-up of provision to actual		-			(110,899	)
Deconsolidation of Hot Dot, Inc.		-			(336,566	)
Noncontrolling interests		(17,632	)		-
Other		(37,689	)		105,426
		(31,276	)		(340,738	)
Tax benefit before valuation allowance		(700,321	)		(904,352	)
Change in valuation allowance		700,321			904,352
Net income tax expense	$	-		$	-