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Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Insurance Premiums Revenue Recognition, Policy (Policies)
12 Months Ended
Dec. 31, 2019
Policies  
Insurance Premiums Revenue Recognition, Policy Premiums from short-duration medical insurance contracts are intended to cover expected claim costs resulting from insured events that occur during a fixed period of short duration.  The Company has the ability to not renew the contract or to revise the premium rates at the end of each annual contract period to cover future insured events.  Insurance premiums from annual health contracts are collected monthly and are recognized as revenue evenly as insurance protection is provided.   Premiums related to long-term and short-term disability contracts are recognized on a pro rata basis over the applicable contract term.   Traditional life insurance products consist principally of products with fixed and guaranteed premiums and benefits, primarily term and whole life insurance products.  Revenue from these products are recognized as premium when due.

 

Policies that do not subject the Company to significant risk arising from mortality or morbidity are considered investment contracts. Deposits received for such contracts are reported as other policyholder funds.  Policy charges for investment contracts consist of fees assessed against the policyholder account for maintenance, administration and surrender of the policy prior to contractually specified dates, and are recognized when assessed against the policyholder account balance.