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Fair Values of Financial Instruments
 3 Months Ended
Mar. 31, 2012
Fair Values of Financial Instruments [Abstract]  
Fair Values of Financial Instruments
Note 10.
 Fair Values of Financial Instruments

The estimated fair value amounts have been determined by the Company using available market information from various market sources and appropriate valuation methodologies.  However, considerable judgment is necessary to interpret market data and to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts which the Company could realize in a current market exchange.  The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.
 
The following table sets forth the carrying amount, estimated fair value and level within the fair value hierarchy of financial instruments as of March 31, 2012 and December 31, 2011.
 
      
March 31, 2012
  
December 31, 2011
 
   
Level in Fair
Value
Hierarchy (1)
  
Carrying
Amount
  
Estimated
Fair Value
  
Carrying
Amount
  
Estimated
Fair Value
 
Assets:
               
Cash and cash equivalents
 
Level 1
  $18,037  $18,037  $21,285  $21,285 
Fixed maturities
   (1)  217,217   217,217   217,348   217,348 
Equity securities
   (1)  8,883   8,883   8,348   8,348 
Other invested assets
 
Level 3
   560   560   567   567 
Policy loans
 
Level 2
   2,255   2,255   2,246   2,246 
Real estate
 
Level 2
   38   38   38   38 
Investment in unconsolidated trusts
 
Level 2
   1,238   1,238   1,238   1,238 
                     
Liabilities:
                    
Junior subordinated debentures
 
Level 2
   41,238   41,238   41,238   41,238 
Derivative
 
Level 3
   723   723   876   876 

(1)
See Note 9 for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.

The fair value estimates as of March 31, 2012 and December 31, 2011 were based on pertinent information available to management as of the respective dates.  Although management is not aware of any factors that would significantly affect the estimated fair value amounts, current estimates of fair value may differ significantly from amounts that might ultimately be realized.