Cost of Insurance Acquired (Tables)

12 Months Ended

Dec. 31, 2019

Cost of Insurance Acquired [Abstract]

Cost of Insurance Acquired

	2019		2018
Cost of insurance acquired, beginning of year	$	5,622,227	$	6,428,292
Interest accretion		769,612		866,339
Amortization		(1,545,518)		(1,672,404)
Net amortization		(775,906)		(806,065)
Cost of insurance acquired, end of year	$	4,846,321	$	5,622,227

Estimated Net Amortization Expense of Cost of Insurance Acquired for Next Five Years

Estimated net amortization expense of cost of insurance acquired for the next five years is as follows:

	Interest Accretion	Amortization	Net Amortization
2020	676,503	1,421,353	744,850
2021	587,120	1,302,090	714,970
2022	501,324	1,189,672	688,348
2023	418,722	1,079,979	661,257
2024	339,372	975,187	635,815