Nature of Operations and Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of ceding commissions earned

	Three months ended March 31,
	2020										2019
Reinsurer	Gross Ceding Commission		Expense Allowances(1)		Commissions and Acquisition Expenses		Interest on Ceding Commissions		Earned Ceding Commission		Earned Ceding Commission
US Alliance Life and Security Company	$	-	$	-	$	-	$	-	$	12,094	$	25,816
Unified Life Insurance Company		-		-		-		-		67,451		780,231
Ironbound Reinsurance Company Limited		674,645		673,612		615,111		53,602		95,740		—
SDA Annuity & Life Re		298,982		548,464		503,207		12,966		7,153		—
	$	973,627	$	1,222,076	$	1,118,318	$	66,568	$	182,438	$	806,047

(1) Includes: acquisition and administrative expenses, commission expense allowance and product development fees.

		March 31, 2020		December 31, 2019
Reinsurer	Effective Date of Transaction	Deferred Ceding Commission		Deferred Ceding Commission
US Alliance Life and Security Company(1)	September 2017	$	846,581	$	858,675
Unified Life Insurance Company(1)	July 2018		515,444		582,894
Ironbound Reinsurance Company Limited(2)	July 2019		5,741,686		5,060,359
SDA Annuity & Life Re(2)	November 2019		1,508,424		1,076,267
		$	8,612,135	$	7,578,195

(1) These reinsurance transactions received gross ceding commissions on the effective dates of the transaction. The difference between the statutory net adjusted reserves and the GAAP adjusted reserves plus the elimination of DAC and VOBA related to these businesses reduces the gross ceding commission with the remaining deferred and amortized over the lifetime of the blocks of business.

(2) These reinsurance transactions include the ceding commissions and expense allowances which are accounted for as described in (1).

American Life & Security Corp [Member]

Schedule of ceding commissions earned

		Three months ended March 31,
		2020				2019
Reinsurer	Effective Date of Transaction	Ceding Commission Earned		Expense Allowances(1)		Ceding Commission Earned		Expense Allowances(1)
US Alliance Life and Security Company	September 2017	$	15,262	$	—	$	15,262	$	—
Unified Life Insurance Company	July 2018		60,609		—		702,788		—
Ironbound Reinsurance Company Limited	July 2019		674,645		673,612		—		—
SDA Annuity & Life Re	November 2019		298,982		548,464		—		—
		$	1,049,498	$	1,222,076	$	718,050	$	—

Includes: acquisition and administrative expenses, commission expense allowance and product development fees.