Deposit-Type Contracts

12 Months Ended

Dec. 31, 2019

Separate Accounts Disclosure [Abstract]

Deposit-Type Contracts

Note 13. Deposit-Type Contracts

The Company’s deposit-type contracts represent the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. Liabilities for these deposit-type contracts are included without reduction for potential surrender charges. This liability is equal to the accumulated account deposits, plus interest credited, and less policyholder withdrawals. The following table provides information about deposit-type contracts for the years ended December 31, 2019 and 2018:

	Year ended December 31,
	2019		2018
Beginning balance	$	7,234,927	$	8,314,297
US Alliance		657,986		804,187
Commutation of assumption agreement		—		(1,881,411)
Ironbound Reinsurance Company Limited		1,839,551		—
SDA Annuity & Life Re (includes MVA adjustment and embedded derivative)		194,940		—
Deposits received		161,392,700		650
Investment earnings (includes MVA adjustment and embedded derivative)		9,271		47,936
Withdrawals		(160,590)		(50,732)
Ending balance	$	171,168,785	$	7,234,927

Under the terms of American Life’s coinsurance agreement with a third party, American Life assumed certain deposit-type contract obligations. The deposits, withdrawals and interest credited in the table above represents the activity from the third party through July 31, 2018.