Commitments and Contingencies

9 Months Ended

Sep. 30, 2015

Commitments and Contingencies [Abstract]

Note 7. Commitments and Contingencies

Legal Proceedings: We are involved in litigation incidental to our operations from time to time. We are not presently a party to any legal proceedings other than litigation arising in the ordinary course of our business, and we are not aware of any claims that could materially affect our financial position or results of operations.

Regulatory Matters: State and federal regulatory bodies regularly make inquiries and conduct examinations or investigations concerning the Company's compliance with laws in relation to, but not limited to, insurance and securities. The issues involved in information requests and regulatory matters vary widely. The Company cooperates in these inquiries. Agencies from the state of South Dakota completed a routine regulatory examination for the period 2010 through 2013 for Great Plains Life as required by state statutes during the second quarter of 2015. Previously, Arizona, Wyoming and Missouri regulators completed regulatory examinations of American Life, First Wyoming Life and Capital Reserve Life. American Life has submitted an application to redomesticate its State of Domicile from Arizona to Nebraska.

Office Lease: The Company leases office space in Lincoln, Nebraska under an agreement executed October 17, 2013 that expires on January 31, 2024. The Company also subleases office space for a satellite office in Kearney, Nebraska, which was executed on June 11, 2012 and expired on May 1, 2015. Great Plains entered into a lease on May 1, 2011 for office space in Pierre, South Dakota, which expired on April 30, 2014. Great Plains also entered into a lease on October 4, 2013 for office space in Mitchell, South Dakota, which expires on November 30, 2016. Rent expense for the three months ended September 30, 2015 and 2014 was $52,125 and $53,147 respectively. Rent expense for the nine months ended September 30, 2015 and 2014 was $163,877 and $164,103, respectively. Future minimum payments are as follows:

2015	$	39,244
2016		137,088
2017		133,603
2018		136,557
2019		141,412
Later years		629,811
Total	$	1,217,715