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24) Future Policy Benefits and Unpaid Claims: Schedule of Liability for Future Policy Benefits, by Product Segment (Tables)

12 Months Ended

Dec. 31, 2017

Tables/Schedules

Schedule of Liability for Future Policy Benefits, by Product Segment

	Years Ended September 30
	2017		2016
Life	$ 445,247,671		$424,878,578
Annuities	99,474,392		99,385,662
Policyholder account balances	47,867,037		49,421,125
Accident and health	482,234		475,059
Other policyholder funds	4,487,521		4,683,720
Reported but unpaid claims	6,023,084		3,897,391
Incurred but not reported claims	1,165,012		1,326,157
Gross future policy benefits and unpaid claims	$ 604,746,951		$584,067,692
Receivable from reinsurers
Life	7,291,996		7,218,580
Annuities	6,023,092		5,781,402
Reported but unpaid claims	69,218		69,189
Incurred but not reported claims	10,297		10,497
Total receivable from reinsurers	13,394,603		13,079,668
Net future policy benefits and unpaid claims	$ 591,352,348		$570,988,024

X

- Definition

The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(13))
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

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- References

No definition available.

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