Assets and Liabilities Held for Sale (Tables)

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities Discontinued Operations

The table below summarizes the assets and liabilities that are included in discontinued operations as of September 30, 2019 and as of December 31, 2018:

	As of September 30,		As of December 31,
	2019		2018
Carrying amounts of major classes of assets included as part of discontinued operations:
Policy loans	$	79,057	$	366,849
Reinsurance recoverables		7,986,308		20,359,326
Premiums receivable		52,690		210,896
Total assets held for sale in the Consolidated Balance Sheet	$	8,118,055	$	20,937,071
Carrying amounts of major classes of liabilities included as part of discontinued operations:
Benefit reserves	$	2,956,701	$	9,799,834
Policy claims		133,203		127,666
Deposit-type contracts		5,004,273		11,050,139
Advance premiums		10,076		21,699
Accounts payable and accrued expenses		12,072		53,395
Total liabilities held for sale in the Consolidated Balance Sheet	$	8,116,325	$	21,052,733

Schedule of Losses/Gains Discontinued Operations

the table below summarizes only the losses that are included in discontinued operations for the three and nine months ended September 30, 2018:

	Three months ended September 30,		Nine months ended September 30,
	2018		2018
Major line items constituting pretax loss of discontinued operations:
Premiums	$	440,891	$	1,375,419
Death and other benefits		(74,538)		(485,651)
Interest credited		(106,728)		(311,847)
Increase in benefit reserves		(164,724)		(234,246)
Amortization of deferred acquisition costs		(58,822)		(261,735)
Other operating expenses		(25,585)		(97,436)
Loss on discontinued operations	$	10,494	$	(15,496)