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Accumulated Other Comprehensive Income (loss) (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Income

The following table summarizes the changes in accumulated other comprehensive income (loss):

  

   2024   2023   2024   2023 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2024   2023   2024   2023 
                 
Unrealized gains (losses) on fixed maturity securities available for sale  $(654,164)  $(4,913,327)  $(1,689,264)  $523,602 
Amounts reclassified into net earnings   3,675    (79,850)   (92,876)   (298,750)
Net unrealized gains (losses) before taxes   (650,489)   (4,993,177)   (1,782,140)   224,852 
Tax (expense) benefit   135,422    1,048,567    373,973    (47,219)
Net   (515,067)   (3,944,610)   (1,408,167)   177,633 
Unrealized losses on restricted assets (1)   (1,694)   (6,189)   (3,583)   (2,056)
Tax benefit   422    1,542    893    512 
Net   (1,272)   (4,647)   (2,690)   (1,544)
Unrealized losses on cemetery perpetual care
trust investments (1)		   (1,052)   (3,738)   (1,825)   (812)
Tax benefit   262    943    455    229 
Net   (790)   (2,795)   (1,370)   (583)
Other comprehensive income (loss) changes  $(517,129)  $(3,952,052)  $(1,412,227)  $175,506 

 

 

(1)Fixed maturity securities available for sale
Schedule of Accumulated Balances of Other Comprehensive Income

The following table presents the accumulated balances of other comprehensive income (loss) as of June 30, 2024:

   

   Beginning Balance December 31, 2023   Change for the period   Ending Balance June 30,
2024		 
Unrealized losses on fixed maturity securities available for sale  $(6,876,629)  $(1,408,167)  $(8,284,796)
Unrealized losses on restricted assets (1)   (4,757)   (2,690)   (7,447)
Unrealized losses on cemetery perpetual care trust investments (1)   (4,172)   (1,370)   (5,542)
Other comprehensive loss  $(6,885,558)  $(1,412,227)  $(8,297,785)

 

 

(1)Fixed maturity securities available for sale

 

The following table presents the accumulated balances of other comprehensive income (loss) as of December 31, 2023:

 

   Beginning Balance December 31, 2022   Change for the period   Ending Balance December 31,
2023		 
Unrealized gains (losses) on fixed maturity securities available for sale  $(13,050,767)  $6,174,138   $(6,876,629)
Unrealized gains (losses) on restricted assets (1)   (13,148)   8,391    (4,757)
Unrealized gains (losses) on cemetery perpetual care trust investments (1)   (6,362)   2,190    (4,172)
Other comprehensive income (loss)  $(13,070,277)  $6,184,719   $(6,885,558)

 

 

(1)Fixed maturity securities available for sale