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Recent Acquisitions (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($)
1 Months Ended 9 Months Ended 12 Months Ended
Oct. 31, 2015
Oct. 31, 2015
Sep. 30, 2016
Dec. 31, 2016
Dec. 31, 2015
Business Acquisition [Line Items]          
Bargain purchase gain   $ 904,578   $ (1,326,526) $ (904,578)
First Wyoming Life Insurance Company [Member]          
Business Acquisition [Line Items]          
Fair value of Common stock of Midwest issued as consideration $ 1,811,612 905,806      
Fair value of Midwest's previously held equity interest in First Wyoming     $ 420,720   $ 158,677
Total consideration   1,127,236      
Investment securities 3,961,937 3,961,937      
Cash 315,546 315,546      
VOBA 506,600 506,600      
Other Assets 92,045 92,045      
Benefit reserves (611,110) (611,110)      
Policy claims (41,754) (41,754)      
Deposit type-contracts (799,990) (799,990)      
Other liabilities (64,934) (64,934)      
Total identifiable net assets 3,358,340 3,358,340      
Bargain purchase gain   (2,231,104)      
Total $ 1,127,236 $ 1,127,236