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Future Policy Benefits and Unpaid Claims
 12 Months Ended
Dec. 31, 2021
Insurance [Abstract]  
Future Policy Benefits and Unpaid Claims

22) Future Policy Benefits and Unpaid Claims

 

The Company reports future policy benefits and unpaid claims pursuant to the accounting policy discussed in Note 1 of the Notes to Consolidated Financial Statements.

 

The following table provides information regarding future policy benefits and unpaid claims and the related receivable from reinsurers.

 

   December 31 
   2021   2020 
Life  $698,366,477   $674,230,463 
Annuities   107,992,830    109,522,112 
Policyholder account balances   42,939,055    44,026,809 
Accident and health   629,302    651,140 
Other policyholder funds   4,352,217    4,354,746 
Reported but unpaid claims   4,887,934    8,689,723 
Incurred but not reported claims   4,106,878    3,315,094 
           
Gross future policy benefits and unpaid claims  $863,274,693   $844,790,087 
           
Receivable from reinsurers          
           
Life   10,482,428    10,841,567 
Annuities   4,082,877    4,047,301 
Accident and health   88,474    90,231 
Reported but unpaid claims   177,829    571,057 
Incurred but not reported claims   19,000    19,000 
           
Total receivable from reinsurers   14,850,608    15,569,156 
           
Net future policy benefits and unpaid claims  $848,424,085   $829,220,931 

 

 

SECURITY NATIONAL FINANCIAL CORPORATION

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

Years Ended December 31, 2021 and 2020