Recent Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair value of the consideration transferred and the preliminary fair value of First Wyoming assets acquired and liabilities assumed:

Fair value of common stock of Midwest issued as consideration	$	905,806
Fair value of Midwest's previously held equity interest in First Wyoming		221,430
	$	1,127,236

Recognized preliminary amounts of identifiable assets acquired and liabilities assumed:

Investment securities	$	3,961,937
Cash		315,546
VOBA		506,600
Other assets		92,045
Benefit reserves		(611,110	)
Policy claims		(41,754	)
Deposit-type contracts		(799,990	)
Other liabilities		(64,934	)
Total identifiable net assets		3,358,340
Bargain purchase gain		(2,231,104	)

Schedule of Pro Forma Information

Year ended December 31, (unaudited)	2015
Premiums	$	3,723,084
Investment income		414,972
Miscellaneous income		48,864
Total income	$	4,186,920
Net loss	$	(4,338,598	)