XML 60 R49.htm IDEA: XBRL DOCUMENT v3.19.2
8) Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)
 6 Months Ended
Jun. 30, 2019
As of June 30, 2019  
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

 $     222,824,099

 

 $                      -

 

 $   232,886,783

 

 $         4,257,364

 

 $     237,144,147

Mortgage loans held for investment:

 

 

 

 

 

 

 

 

 

Residential

          82,294,181

 

                         -

 

                         -

 

          86,460,522

 

          86,460,522

Residential construction

          74,209,975

 

                         -

 

                         -

 

          74,209,975

 

          74,209,975

Commercial

          31,817,849

 

                         -

 

                         -

 

          32,484,689

 

          32,484,689

Mortgage loans held for investment, net

 $     188,322,005

 

 $                      -

 

 $                      -

 

 $     193,155,186

 

 $     193,155,186

Policy loans

            6,265,560

 

                         -

 

                         -

 

            6,265,560

 

            6,265,560

Insurance assignments, net (1)

          34,389,931

 

                         -

 

                         -

 

          34,389,931

 

          34,389,931

Restricted assets (2)

            1,276,771

 

                         -

 

          1,301,700

 

                         -  

 

            1,301,700

Restricted assets (3)

            3,147,603

 

                         -

 

                         -

 

            3,156,132

 

            3,156,132

Cemetery perpetual care trust investments (2)

            1,015,628

 

                         -

 

          1,045,559

 

                         -  

 

            1,045,559

Mortgage servicing rights, net

          17,504,477

 

                         -

 

                         -

 

          22,084,565

 

          22,084,565

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Bank and other loans payable

 $   (216,352,961)

 

 $                      -

 

 $                      -

 

 $   (216,352,961)

 

 $   (216,352,961)

Policyholder account balances (4)

        (45,825,524)

 

                         -

 

                         -

 

        (36,952,381)

 

        (36,952,381)

Future policy benefits - annuities (4)

        (96,841,746)

 

                         -

 

                         -

 

        (96,831,833)

 

        (96,831,833)

                               

 

 

 

 

 

 

 

 

 

(1) Included in other investments and policy loans on the condensed consolidated balance sheet.

 

 

 

 

(2) Fixed maturity securities held to maturity

 

 

 

 

 

 

 

 

 

(3) Mortgage loans held for investment

 

 

 

 

 

 

 

 

 

(4) Included in future policy benefits and unpaid claims on the condensed consolidated balance sheet.

 

 
As of December 2018  
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

 $     232,078,723

 

 $                      -

 

 $   229,668,844

 

 $         5,082,014

 

 $     234,750,858

Mortgage loans held for investment:

 

 

 

 

 

 

 

 

 

Residential

          87,947,566

 

                         -

 

                         -

 

          92,503,553

 

          92,503,553

Residential construction

          70,886,702

 

                         -

 

                         -

 

          70,886,702

 

          70,886,702

Commercial

          27,630,801

 

                         -

 

                         -

 

          28,359,205

 

          28,359,205

Mortgage loans held for investment, net

 $     186,465,069

 

 $                      -

 

 $                      -

 

 $     191,749,460

 

 $     191,749,460

Policy loans

            6,424,325

 

                         -

 

                         -

 

            6,424,325

 

            6,424,325

Insurance assignments, net (1)

          34,146,868

 

                         -

 

                         -

 

          34,146,868

 

          34,146,868

Restricted assets (2)

            1,258,397

 

                         -

 

          1,271,687

 

                         -  

 

            1,271,687

Restricted assets (3)

            1,799,268

 

                         -

 

                         -

 

            1,810,185

 

            1,810,185

Cemetery perpetual care trust investments (2)

               990,390

 

                         -

 

             983,410

 

                         -  

 

               983,410

Mortgage servicing rights, net

          20,016,822

 

                         -

 

                         -

 

          28,885,316

 

          28,885,316

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Bank and other loans payable

 $   (187,521,188)

 

 $                      -

 

 $                      -

 

 $   (187,521,188)

 

 $   (187,521,188)

Policyholder account balances (4)

        (46,479,853)

 

                         -

 

                         -

 

        (37,348,289)

 

        (37,348,289)

Future policy benefits - annuities (4)

        (98,137,615)

 

                         -

 

                         -

 

        (97,641,146)

 

        (97,641,146)

                               

 

 

 

 

 

 

 

 

 

(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.