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8): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables) | 6 Months Ended
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Jun. 30, 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 | $ 218,409,812 |  | $ - |  | $ 192,836,479 |  | $ 30,687,179 |  | $ 223,523,658
Mortgage loans held for investment: |  |  |  |  |  |  |  |  |
Residential | 85,733,141 |  | - |  | - |  | 90,610,146 |  | 90,610,146
Residential construction | 62,883,246 |  | - |  | - |  | 62,883,246 |  | 62,883,246
Commercial | 44,452,450 |  | - |  | - |  | 45,438,216 |  | 45,438,216
Mortgage loans held for investment, net | $ 193,068,837 |  | $ - |  | $ - |  | $ 198,931,608 |  | $ 198,931,608
Policy loans | 6,310,614 |  | - |  | - |  | 6,310,614 |  | 6,310,614
Insurance assignments, net (1) | 31,693,933 |  | - |  | - |  | 31,693,933 |  | 31,693,933
Restricted assets (2) | 1,159,629 |  | - |  | 1,169,967 |  | - |  | 1,169,967
Restricted assets (3) | 1,500,000 |  | - |  | - |  | 1,500,000 |  | 1,500,000
Cemetery perpetual care trust investments (2) | 963,646 |  | - |  | 961,655 |  | - |  | 961,655
Mortgage servicing rights, net | 21,117,937 |  | - |  | - |  | 31,037,960 |  | 31,037,960
Liabilities |  |  |  |  |  |  |  |  |
Bank and other loans payable | $ (208,777,621) |  | $ - |  | $ - |  | $ (208,777,621) |  | $ (208,777,621)
Policyholder account balances (4) | (46,914,113) |  | - |  | - |  | (34,441,613) |  | (34,441,613)
Future policy benefits - annuities (4) | (98,787,048) |  | - |  | - |  | (96,759,178) |  | (96,759,178)
(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 (residential construction) |  |  |  |  |  |
(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 |  | $ - |  | $ 208,672,036 |  | $ 32,826,373 |  | $ 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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