Assets and Liabilities Held for Sale (Tables)

12 Months Ended

Dec. 31, 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 for the years ended December 31, 2019 and 2018:

	As of December 31,		As of December 31,
	2019		2018
Carrying amounts of major classes of assets included as part of discontinued operations:
Policy loans	$	50,387	$	366,849
Reinsurance recoverables		3,569,849		20,359,326
Premiums receivable		33,512		210,896
Total assets held for sale in the Consolidated Balance Sheet	$	3,653,748	$	20,937,071
Carrying amounts of major classes of liabilities included as part of discontinued operations:
Benefit reserves	$	1,403,953	$	9,799,834
Policy claims		28,203		127,666
Deposit-type contracts		2,209,195		11,050,139
Advance premiums		2,226		21,699
Accounts payable and accrued expenses		3,290		53,395
Total liabilities held for sale in the Consolidated Balance Sheets	$	3,646,867	$	21,052,733

Schedule of Losses/Gains Discontinued Operations

	Year ended December 31,
	2018
Major line items constituting pretax loss of discontinued operations:
Premiums	$	933,980
Death and other benefits		(421,448)
Interest credited		(192,008)
Increase in benefit reserves		(41,790)
Amortization of deferred acquisition costs		(202,913)
Other operating expenses		(104,105)
Loss on discontinued operations	$	(28,284)