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Future Policy Benefits and Unpaid Claims (Tables)

12 Months Ended

Dec. 31, 2021

Insurance [Abstract]

Schedule of Liability for Future Policy Benefits, by Product Segment

Schedule of Liability for Future Policy Benefits, by Product Segment 

		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

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- References

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- Definition

The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(13))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

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