Rendering

Component: (Network and Table)
Network
021 - Disclosure - Note 3 - Fair Values of Financial Instruments (Tables)
(http://www.investorsheritage.com/20161231/role/statement-note-3-fair-values-of-financial-instruments-tables)
TableStatement [Table]
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000055362 (http://www.sec.gov/CIK)
Scenario [Axis]Scenario, Unspecified [Domain]
Statement [Line Items]Period [Axis]
2016-01-01 - 2016-12-31
Notes Tables
 
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
 
 
December 31, 2016
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
 
                                 
U.S. government obligations
   $
-
    $
22,233,619
    $
-
    $
22,233,619
 
States and political subdivisions
    
-
     
39,525,248
     
-
     
39,525,248
 
Corporate
    
-
     
210,980,549
     
-
     
210,980,549
 
Foreign
    
-
     
52,529,579
     
-
     
52,529,579
 
Mortgage-backed securities:
                                
Commercial MBS
    
-
     
6,916,071
     
-
     
6,916,071
 
Residential MBS
    
-
     
33,306,997
     
-
     
33,306,997
 
Corporate redeemable preferred stock
    
-
     
855,936
     
-
     
855,936
 
Total fixed maturities
   $
-
    $
366,347,999
    $
-
    $
366,347,999
 
                                 
                                 
U.S. agencies
   $
707,900
    $
-
    $
-
    $
707,900
 
Mutual funds
    
347,124
     
-
     
-
     
347,124
 
Corporate common stock
    
7,253,044
     
-
     
448,000
     
7,701,044
 
Total equity securities
   $
8,308,068
    $
-
    $
448,000
    $
8,756,068
 
                                 
Investments in convertible options
   $
-
    $
983,950
    $
-
    $
983,950
 
 
 
December 31, 2015
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
 
                                 
U.S. government obligations
   $
-
    $
24,015,752
    $
-
    $
24,015,752
 
States and political subdivisions
    
-
     
41,205,439
     
-
     
41,205,439
 
Corporate
    
-
     
235,176,138
     
-
     
235,176,138
 
Foreign
    
-
     
62,058,522
     
-
     
62,058,522
 
Asset-backed securities
    
-
     
144,009
     
-
     
144,009
 
Mortgage-backed securities:
                                
Commercial MBS
    
-
     
6,963,242
     
-
     
6,963,242
 
Residential MBS
    
-
     
38,914,577
     
-
     
38,914,577
 
Corporate redeemable preferred stock
    
-
     
669,128
     
-
     
669,128
 
Total fixed maturities
   $
-
    $
409,146,807
    $
-
    $
409,146,807
 
                                 
                                 
U.S. agencies
   $
707,900
    $
-
    $
-
    $
707,900
 
Mutual funds
    
304,031
     
-
     
-
     
304,031
 
Corporate common stock
    
6,252,858
     
-
     
352,000
     
6,604,858
 
Total equity securities
   $
7,264,789
    $
-
    $
352,000
    $
7,616,789
 
                                 
Investments in convertible options
   $
-
    $
957,405
    $
-
    $
957,405
 
  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
 
 
Year Ended December 31,
 
 
 
2016
 
 
2015
 
Corporate common stock:
 
 
 
 
 
 
 
 
Beginning balance
   $
352,000
    $
384,000
 
Transfers into Level 3
    
-
     
-
 
Transfers out of Level 3
    
-
     
-
 
Purchases
    
-
     
-
 
Sales
    
-
     
-
 
Total gains or losses:
                
Included in earnings
    
-
     
-
 
Included in other comprehensive income (loss)
    
96,000
     
(32,000
 )
Ending balance
   $
448,000
    $
352,000
 
  
Fair Value, by Balance Sheet Grouping [Table Text Block]
 
 
December 31, 2016
 
 
 
Carrying
 
 
Fair
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount
 
 
Value
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage loans on real estate:
                                        
Commercial
   $
10,819,996
    $
11,084,097
    $
-
    $
-
    $
11,084,097
 
Residential
    
30,482,396
     
33,992,592
     
-
     
-
     
33,992,592
 
Policy loans
    
6,336,277
     
6,336,277
     
-
     
-
     
6,336,277
 
State-guaranteed receivables
    
11,584,681
     
13,938,824
     
-
     
13,938,824
     
-
 
Other invested assets
    
1,951,830
     
1,951,830
     
-
     
-
     
1,951,830
 
Cash and cash equivalents
    
3,297,917
     
3,297,917
     
3,297,917
     
-
     
-
 
Accrued investment income
    
4,433,680
     
4,433,680
     
-
     
-
     
4,433,680
 
Cash value of company-owned
life insurance
    
13,855,560
     
13,855,560
     
-
     
-
     
13,855,560
 
                                         
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Policyholder deposits
(Investment-type contracts)
    
51,870,288
     
51,304,889
     
-
     
-
     
51,304,889
 
Policy claims
    
2,637,220
     
2,637,220
     
-
     
-
     
2,637,220
 
Obligations under capital leases
    
72,209
     
72,209
     
-
     
-
     
72,209
 
Notes payable
    
971,851
     
971,851
     
-
     
-
     
971,851
 
 
 
December 31, 2015
 
 
 
Carrying
 
 
Fair
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount
 
 
Value
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage loans on real estate:
                                        
Commercial
   $
12,419,443
    $
12,895,965
    $
-
    $
-
    $
12,895,965
 
Residential
    
20,754,688
     
23,032,713
     
-
     
-
     
23,032,713
 
Policy loans
    
6,702,911
     
6,702,911
     
-
     
-
     
6,702,911
 
State-guaranteed receivables
    
7,692,959
     
9,094,934
     
-
     
9,094,934
     
-
 
Other invested assets
    
2,379,451
     
2,379,451
     
-
     
-
     
2,379,451
 
Cash and cash equivalents
    
3,619,663
     
3,619,663
     
3,619,663
     
-
     
-
 
Accrued investment income
    
5,149,612
     
5,149,612
     
-
     
-
     
5,149,612
 
Cash value of company-owned
life insurance
    
13,191,773
     
13,191,773
     
-
     
-
     
13,191,773
 
                                         
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Policyholder deposits
(Investment-type contracts)
    
52,694,746
     
53,880,242
     
-
     
-
     
53,880,242
 
Policy claims
    
2,584,088
     
2,584,088
     
-
     
-
     
2,584,088
 
Obligations under capital leases
    
377,259
     
377,259
     
-
     
-
     
377,259
 
Notes payable
    
1,433,448
     
1,433,448
     
-
     
-
     
1,433,448