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8): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables) | 3 Months Ended
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Mar. 31, 2018
Tables/Schedules |
Schedule of Financial Instruments Carried at Other Than Fair Value |
| Carrying Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Estimated Fair Value
Assets |  |  |  |  |  |  |  |  |
Fixed maturity securities held to maturity | $ 231,474,083 |  | $ - |  | $ 232,634,878 |  | $ 7,224,064 |  | $ 239,858,942
Mortgage loans held for investment: |  |  |  |  |  |  |  |  |
Residential | 99,065,368 |  | - |  | - |  | 104,999,136 |  | 104,999,136
Residential construction | 53,795,008 |  | - |  | - |  | 53,795,008 |  | 53,795,008
Commercial | 52,129,530 |  | - |  | - |  | 53,487,729 |  | 53,487,729
Mortgage loans held for investment, net | $ 204,989,906 |  | $ - |  | $ - |  | $ 212,281,873 |  | $ 212,281,873
Policy loans | 6,403,888 |  | - |  | - |  | 6,403,888 |  | 6,403,888
Insurance assignments, net (1) | 34,157,556 |  | - |  | - |  | 34,157,556 |  | 34,157,556
Restricted assets (2) | 1,142,355 |  | - |  | 1,146,584 |  | - |  | 1,146,584
Restricted assets (3) | 1,735,066 |  | - |  | - |  | 1,819,012 |  | 1,819,012
Cemetery perpetual care trust investments (2) | 948,735 |  | - |  | 941,823 |  | - |  | 941,823
Cemetery perpetual care trust investments (3) | 4,209 |  | - |  | - |  | 4,475 |  | 4,475
Mortgage servicing rights, net | 21,554,050 |  | - |  | - |  | 30,086,162 |  | 30,086,162
Liabilities |  |  |  |  |  |  |  |  |
Bank and other loans payable | $ (151,451,152) |  | $ - |  | $ - |  | $ (151,451,152) |  | $ (151,451,152)
Policyholder account balances (4) | (47,448,620) |  | - |  | - |  | (33,948,014) |  | (33,948,014)
Future policy benefits - annuities (4) | (98,569,032) |  | - |  | - |  | (97,549,438) |  | (97,549,438)
(1) Included in other investments and policy loans on the condensed consolidated balance sheet. |  |  |  |
(2) Fixed maturity securities held to maturity |  |  |  |  |  |  |  |  |
(3) Participation in mortgage loans held for investment (commercial) |  |  |  |  |  |
(4) Included in future policy benefits and unpaid claims on the condensed consolidated balance sheet. |  |
The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2017:
| Carrying Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Estimated Fair Value
Assets |  |  |  |  |  |  |  |  |
Fixed maturity securities held to maturity | $ 228,397,623 |  | $ - |  | $ 233,806,219 |  | $ 7,692,190 |  | $ 241,498,409
Mortgage loans held for investment: |  |  |  |  |  |  |  |  |
Residential | 99,816,535 |  | - |  | - |  | 106,050,169 |  | 106,050,169
Residential construction | 49,694,025 |  | - |  | - |  | 49,694,025 |  | 49,694,025
Commercial | 54,700,325 |  | - |  | - |  | 56,473,156 |  | 56,473,156
Mortgage loans held for investment, net | $ 204,210,885 |  | $ - |  | $ - |  | $ 212,217,350 |  | $ 212,217,350
Policy loans | 6,531,352 |  | - |  | - |  | 6,531,352 |  | 6,531,352
Insurance assignments, net (1) | 35,455,098 |  | - |  | - |  | 35,455,098 |  | 35,455,098
Restricted assets (2) | 1,130,088 |  | - |  | 1,152,324 |  | - |  | 1,152,324
Restricted assets (3) | 1,701,811 |  | - |  | - |  | 1,796,910 |  | 1,796,910
Cemetery perpetual care trust investments (2) | 943,211 |  | - |  | 953,404 |  | - |  | 953,404
Cemetery perpetual care trust investments (3) | 4,128 |  | - |  | - |  | 4,411 |  | 4,411
Mortgage servicing rights, net | 21,376,937 |  | - |  | - |  | 27,427,174 |  | 27,427,174
Liabilities |  |  |  |  |  |  |  |  |
Bank and other loans payable | $ (157,450,925) |  | $ - |  | $ - |  | $ (157,450,925) |  | $ (157,450,925)
Policyholder account balances (4) | (47,867,037) |  | - |  | - |  | (34,557,111) |  | (34,557,111)
Future policy benefits - annuities (4) | (99,474,392) |  | - |  | - |  | (98,827,107) |  | (98,827,107)
(1) Included in other investments and policy loans on the condensed consolidated balance sheet. |  |  |  |
(2) Fixed maturity securities held to maturity |  |  |  |  |  |  |  |  |
(3) Participation in mortgage loans held for investment (commercial) |  |  |  |  |  |
(4) Included in future policy benefits and unpaid claims on the condensed consolidated balance sheet. |  |  |

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