CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Fixed maturities, available for sale, at fair value (amortized cost: $1,102,254 and $679,921, respectively) (See Note 4)	$ 1,048,081	$ 683,296
Mortgage loans on real estate, held for investment	204,423	183,203
Derivative instruments (See Note 5)	11,840	23,022
Equity securities, at fair value (cost: $10,256 in 2022 and $22,158 in 2021)	9,325	21,869
Other invested assets	78,569	35,293
Investment escrow	344	3,611
FHLB stock	501	500
Preferred stock	21,579	18,686
Notes receivable	6,189	5,960
Policy loans	21	87
Total investments	1,380,872	975,527
Cash and cash equivalents	208,664	142,013
Deferred acquisition costs, net	39,377	24,530
Premiums receivable	364	354
Accrued investment income	23,915	13,623
Reinsurance recoverables (See Note 9)	5,791	38,579
Intangible assets	700	700
Property and equipment, net	1,990	386
Operating lease right of use assets	2,179	2,360
Receivable for securities sold	13,026	19,732
Other assets	9,190	2,113
Total assets	1,686,068	1,219,917
Liabilities:
Benefit reserves	12,953	12,941
Policy claims	2,963	237
Deposit-type contracts (See Note 11)	1,537,583	1,075,439
Advance premiums	2	1
Deferred gain on coinsurance transactions	35,464	28,589
Lease liabilities (See Note 13):
Operating lease	2,192	2,364
Payable for securities purchased	20,941	5,546
Other liabilities	34,100	9,044
Total liabilities	1,646,198	1,134,161
Stockholders' Equity:
Preferred stock, $0.001 par value; authorized 2,000,000 shares; no shares issued and outstanding as of September 30, 2022 or December 31, 2021
Voting common stock, $0.001 par value; authorized 20,000,000 shares; 3,727,976 shares issued and outstanding as of September 30, 2022 and 3,737,564 at December 31, 2021, respectively; non-voting common stock, $0.001 par value, 2,000,000 shares authorized; no shares issued and outstanding September 30, 2022 and December 31, 2021, respectively	4	4
Additional paid-in capital	138,166	138,452
Treasury stock	(175)	(175)
Accumulated deficit	(53,276)	(70,159)
Accumulated other comprehensive income (loss)	(52,943)	2,634
Total Midwest Holding Inc.'s stockholders' equity	31,776	70,756
Noncontrolling interests	8,094	15,000
Total stockholders' equity	39,870	85,756
Total liabilities and stockholders' equity	$ 1,686,068	$ 1,219,917