CREDIT ARRANGEMENTS (Tables)

3 Months Ended

Mar. 31, 2016

CREDIT ARRANGEMENTS [Abstract]

Schedule of lines of credit

Instrument	Issue Date	Maturity Date		Revolving Credit Limit		December 31, 2015	Borrowings	Repayments		March 31, 2016
Lines of Credit:
UTG	2013-11-20	2016-11-20	$	8,000,000	$	0	0	0	$	0
UG	2015-06-02	2016-05-19		10,000,000		0	0	0		0

The UTG line of credit carries interest at a fixed rate of  3.75% and is payable monthly. As collateral, UTG has pledged  100% of the common voting stock of its wholly owned subsidiary, Universal Guaranty Life Insurance Company ("UG").