Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Investments available for sale:
Fixed maturities, at fair value (amortized cost $156,998,638 and $159,959,855)	$ 176,720,947	$ 171,629,373	[1]
Equity securities, at fair value (cost $33,521,163 and $32,578,862)	65,588,029	78,661,793	[1]
Equity securities, at cost	14,417,247	10,919,247	[1]
Mortgage loans on real estate at amortized cost	20,392,053	8,223,286	[1]
Investment real estate	36,421,627	44,344,236	[1]
Notes receivable	19,298,398	19,487,458	[1]
Policy loans	8,727,991	8,803,876	[1]
Short-term investments	7,973,910	10,442,173
Total investments	349,540,202	352,511,442	[1]
Cash and cash equivalents	24,723,191	28,787,629	[1]
Accrued investment income	1,247,946	1,679,783	[1]
Reinsurance receivables:
Future policy benefits	25,412,611	25,655,161	[1]
Policy claims and other benefits	4,262,277	4,142,142	[1]
Cost of insurance acquired	4,287,682	4,846,321	[1]
Property and equipment, net of accumulated depreciation	367,999	427,736	[1]
Income tax receivable	145,067	0	[1]
Other assets	764,344	695,517	[1]
Total assets	410,751,319	418,745,731	[1]
Policy liabilities and accruals:
Future policyholder benefits	245,084,324	249,264,308	[1]
Policy claims and benefits payable	3,811,781	3,631,666	[1]
Other policyholder funds	402,225	404,177	[1]
Dividend and endowment accumulations	14,764,957	14,626,475	[1]
Income taxes payable	0	313,662	[1]
Deferred income taxes	11,343,548	13,222,604	[1]
Trading securities, at fair value (proceeds $5,584 and $0)	4,003	0
Other liabilities	6,172,576	5,785,933	[1]
Total liabilities	281,583,414	287,248,825	[1]
Shareholders' equity:
Common stock - no par value, stated value $.001 per share. Authorized 7,000,000 shares - 3,176,672 and 3,277,830 shares outstanding	3,177	3,279	[1]
Additional paid-in capital	33,056,562	36,012,401	[1]
Retained earnings	80,266,031	85,979,678	[1]
Accumulated other comprehensive income	15,218,666	8,977,914	[1]
Total UTG shareholders' equity	128,544,436	130,973,272	[1]
Noncontrolling interests	623,469	523,634	[1]
Total shareholders' equity	129,167,905	131,496,906	[1]
Total liabilities and shareholders' equity	$ 410,751,319	$ 418,745,731	[1]

[1] Balance sheet audited at December 31, 2019.