Statutory Net Income and Surplus	12 Months Ended
Dec. 31, 2019
Statutory Net Income and Surplus [Abstract]
Statutory Net Income and Surplus	Note 16. Statutory Net Income and Surplus American Life is required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the Nebraska Department of Insurance. Statutory practices primarily differ from GAAP by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions as well as valuing investments and certain assets and accounting for deferred taxes on a different basis. As filed in the statutory-basis annual statement with the Nebraska Department of Insurance, American Life’s statutory net gains (losses) for the year ended December 31, 2019 and 2018 were $1,843,725 and $(4,283,351), respectively. Capital and surplus of American Life as of December 31, 2019 and 2018 was $20,033,157 and $20,979,285, respectively. The net gain was primarily due to the ceding commission and reserve adjustments earned on the Ironbound and SDA reinsurance transactions; offset by continuing expenses incurred to provide services on the new software and related technology to distribute products through national marketing organizations. The MYGA sales began late in January 2019 with $145,747,737 of face amount of MYGA policies and $15,616,831 of face amount of FIA policies issued during 2019. An additional $9,568,290 of MYGA and $2,571,687 of FIA sales was pending as of December 31, 2019. As mentioned in Note 10. Reinsurance above, American Life entered into the FW/Modco Agreement with Ironbound to cede 95% of the MYGA business. Premiums net of commissions and ceding commission and administrative fees ceded to Ironbound was $128,760,161 and the reserve requirement of $139,093,289 was ceded to Ironbound as of December 31, 2019. Also included in Note 10. Reinsurance above, American Life entered into the FW/Modco Agreement with SDA to cede the addition 5% of the MYGA and 95% of the FIA business through December 31, 2019. Premiums net of commissions and ceding commission and administrative fees ceded to SDA was $18,984,045 and the reserve requirements of $20,822,364 was ceded to SDA as of December 31, 2019. State insurance laws require our insurance subsidiary to maintain certain minimum capital and surplus amounts on a statutory basis. Our insurance subsidiary is subject to regulations that restrict the payment of dividends from statutory surplus and may require prior approval from its domiciliary insurance regulatory authorities. Our insurance subsidiary is also subject to risk-based capital (“RBC”) requirements that may further affect its ability to pay dividends. Our insurance subsidiary’s statutory capital and surplus as December 31, 2019 and 2018, exceeded the amount of statutory capital and surplus necessary to satisfy regulatory requirements, including the RBC requirements. As of December 31, 2019 and 2018, American Life did not hold any participating policyholder contracts where dividends were required to be paid.

Note 16. Statutory Net Income and Surplus

American Life is required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the Nebraska Department of Insurance. Statutory practices primarily differ from GAAP by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions as well as valuing investments and certain assets and accounting for deferred taxes on a different basis. As filed in the statutory-basis annual statement with the Nebraska Department of Insurance, American Life’s statutory net gains (losses) for the year ended December 31, 2019 and 2018 were $1,843,725 and $(4,283,351), respectively. Capital and surplus of American Life as of December 31, 2019 and 2018 was $20,033,157 and $20,979,285, respectively. The net gain was primarily due to the ceding commission and reserve adjustments earned on the Ironbound and SDA reinsurance transactions; offset by continuing expenses incurred to provide services on the new software and related technology to distribute products through national marketing organizations. The MYGA sales began late in January 2019 with $145,747,737 of face amount of MYGA policies and $15,616,831 of face amount of FIA policies issued during 2019. An additional $9,568,290 of MYGA and $2,571,687 of FIA sales was pending as of December 31, 2019.

As mentioned in Note 10. Reinsurance above, American Life entered into the FW/Modco Agreement with Ironbound to cede 95% of the MYGA business. Premiums net of commissions and ceding commission and administrative fees ceded to Ironbound was $128,760,161 and the reserve requirement of $139,093,289 was ceded to Ironbound as of December 31, 2019.

Also included in Note 10. Reinsurance above, American Life entered into the FW/Modco Agreement with SDA to cede the addition 5% of the MYGA and 95% of the FIA business through December 31, 2019. Premiums net of commissions and ceding commission and administrative fees ceded to SDA was $18,984,045 and the reserve requirements of $20,822,364 was ceded to SDA as of December 31, 2019.

State insurance laws require our insurance subsidiary to maintain certain minimum capital and surplus amounts on a statutory basis. Our insurance subsidiary is subject to regulations that restrict the payment of dividends from statutory surplus and may require prior approval from its domiciliary insurance regulatory authorities. Our insurance subsidiary is also subject to risk-based capital (“RBC”) requirements that may further affect its ability to pay dividends. Our insurance subsidiary’s statutory capital and surplus as December 31, 2019 and 2018, exceeded the amount of statutory capital and surplus necessary to satisfy regulatory requirements, including the RBC requirements.

As of December 31, 2019 and 2018, American Life did not hold any participating policyholder contracts where dividends were required to be paid.