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Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2016
Tables/Schedules |
Schedule of components of Deferred Tax Liabilities |
| December 31
| 2016 |  | 2015
Assets |  |  |
Future policy benefits | $ (10,243,465) |  | $ (8,023,302)
Loan loss reserve | (288,590) |  | (1,163,700)
Unearned premium | (1,519,722) |  | (1,610,684)
Available for sale securities | (51,266) |  | (150,984)
Net operating loss | (1,531,160) |  | (588,537)
Deferred compensation | (2,225,208) |  | (1,994,927)
Deposit obligations | (1,033,580) |  | (1,026,984)
Other | (1,805,260) |  | (2,242,029)
Less: Valuation allowance | 4,262,549 |  | 5,276,431
Total deferred tax assets | (14,435,702) |  | (11,524,716)
Liabilities |  |  |
Deferred policy acquisition costs | 18,150,517 |  | 14,838,604
Basis difference in property and equipment | 10,749,036 |  | 9,375,146
Value of business acquired | 2,573,902 |  | 2,972,883
Deferred gains | 9,290,123 |  | 6,902,888
Trusts | 1,599,657 |  | 1,599,657
Tax on unrealized appreciation | 1,488,523 |  | 1,102,963
Total deferred tax liabilities | 43,851,758 |  | 36,792,141
Net deferred tax liability | $ 29,416,056 |  | $ 25,267,425

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