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8): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables) | 9 Months Ended
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Sep. 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 | $ 230,386,875 |  | $ - |  | $ 201,221,369 |  | $ 33,002,784 |  | $ 234,224,153
Mortgage loans held for investment: |  |  |  |  |  |  |  |  |
Residential | 78,004,013 |  | - |  | - |  | 82,516,040 |  | 82,516,040
Residential construction | 70,716,110 |  | - |  | - |  | 70,716,110 |  | 70,716,110
Commercial | 32,661,399 |  | - |  | - |  | 33,475,276 |  | 33,475,276
Mortgage loans held for investment, net | $ 181,381,522 |  | $ - |  | $ - |  | $ 186,707,426 |  | $ 186,707,426
Policy loans | 6,389,122 |  | - |  | - |  | 6,389,122 |  | 6,389,122
Insurance assignments, net (1) | 31,119,910 |  | - |  | - |  | 31,119,910 |  | 31,119,910
Restricted assets (2) | 1,199,301 |  | - |  | 1,201,983 |  | - |  | 1,201,983
Restricted assets (3) | 1,500,000 |  | - |  | - |  | 1,500,000 |  | 1,500,000
Cemetery perpetual care trust investments (2) | 973,821 |  | - |  | 963,621 |  | - |  | 963,621
Mortgage servicing rights, net | 20,875,905 |  | - |  | - |  | 32,327,266 |  | 32,327,266
Liabilities |  |  |  |  |  |  |  |  |
Bank and other loans payable | $ (196,422,645) |  | $ - |  | $ - |  | $ (196,422,645) |  | $ (196,422,645)
Policyholder account balances (4) | (46,706,179) |  | - |  | - |  | (34,223,082) |  | (34,223,082)
Future policy benefits - annuities (4) | (98,558,234) |  | - |  | - |  | (96,511,305) |  | (96,511,305)
(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 |  | $ - |  | $ 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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