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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Premiums and policy fees $ 3,040,968 $ 2,861,481 $ 5,815,731 $ 5,798,995
Ceded reinsurance premiums and policy fees (736,897) (777,916) (1,504,198) (1,557,242)
Net investment income 3,210,481 2,055,900 7,228,972 8,010,402
Other income 110,351 148,037 295,547 315,430
Revenues before realized gains 5,624,903 4,287,502 11,836,052 12,567,585
Realized investment gains (losses), net:        
Other-than-temporary impairments 0 0 0 0
Other realized investment gains, net 655,564 1,522,414 4,067,797 4,426,320
Total realized investment gains, net 655,564 1,522,414 4,067,797 4,426,320
Total revenue 6,280,467 5,809,916 15,903,849 16,993,905
Benefits, claims and settlement expenses:        
Life 5,567,327 5,197,017 11,382,479 9,873,230
Ceded Reinsurance benefits and claims (910,789) (627,557) (1,506,070) (1,122,253)
Annuity 298,677 280,984 627,576 530,234
Dividends to policyholders 121,555 120,962 249,234 251,598
Amortization of cost of insurance acquired 218,246 226,901 436,492 453,802
Commissions and amortization of deferred policy acquisition costs (39,176) (42,051) (71,942) (84,276)
Operating expenses 1,904,102 2,148,087 3,678,339 4,347,182
Interest expense 0 23,550 0 61,523
Total benefits and other expenses 7,159,942 7,327,893 14,796,108 14,311,040
Loss before income taxes (879,475) (1,517,977) 1,107,741 2,682,865
Income tax (expense) benefit 307,193 646,356 (492,487) (814,893)
Net loss (572,282) (871,621) 615,254 1,867,972
Net income attributable to noncontrolling interests (140,540) 83,832 (45,973) (152,006)
Net loss attributable to common shareholders' $ (712,822) $ (787,789) $ 569,281 $ 1,715,966
Amounts attributable to common shareholders':        
Basic loss per share $ (0.19) $ (0.21) $ 0.15 $ 0.46
Diluted loss per share $ (0.19) $ (0.21) $ 0.15 $ 0.46
Basic weighted average shares outstanding 3,673,545 3,712,325 3,686,968 3,710,038
Diluted weighted average shares outstanding 3,673,545 3,712,325 3,686,968 3,710,038