PREMIUM ADVANCES

3 Months Ended

May 31, 2013

Insurance [Abstract]

PREMIUM ADVANCES

(7) PREMIUM ADVANCES

We make advances on policy premiums to maintain certain policies. When the future premium amounts in escrow are exhausted, purchasers are contractually obligated to pay the additional policy premiums. In some instances, purchasers have failed to pay the premiums and we have acquired the policy or advanced the premiums to maintain the policies. While we have no contractual or other legal obligation to do so, and do not do so in every instance, we have made premium advances as an accommodation based on our assumptions that we will ultimately recoup the advances. Although we expect ultimate repayment, we make estimates of the collectability of these premium advances.

The table below shows the changes in the premium advances account.

Total premium advance balance at February 28, 2013	$	13,612,687
Advances		1,060,136
Reimbursements and adjustments		(346,472)
Total premium advance balance at May 31, 2013		14,326,351
Allowance for doubtful accounts		(4,402,047)
Net premium advance balance at May 31, 2013	$	9,924,304