MEMBERS Life Insurance S-1 30 Mar 16 2015 FY IPO registration Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2015
Document and Entity Information:
Entity Registrant Name	MEMBERS Life Insurance Co
Document Type	S1
Document Period End Date	Dec. 31, 2015
Trading Symbol	mlic
Amendment Flag	false
Entity Central Index Key	1,562,577
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	No
Entity Voluntary Filers	Yes
Entity Well-known Seasoned Issuer	Yes
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

Balance Sheets

Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2015		Dec. 31, 2014
Investments
Debt securities, available for sale, at fair value		$ 12,351	[1]	$ 13,194	[2]
Policy loans				104
Receivable for securities sold				15
Total investments		12,351		13,313
Cash and cash equivalents		17,093		5,602
Accrued investment income		134		80
Reinsurance recoverable from affiliate		24,628		25,199
Assets on deposit		947,595		349,937
Premiums receivable, net		26		28
Net deferred tax asset		682		440
Receivable from affiliate		4,518		2,765
Other assets and receivables		268		220
Federal income taxes recoverable from affiliate		516		1,797
Total assets		1,007,811		399,381
Liabilities
Claim and policy benefit reserves - life and health		21,537		22,368
Policyholder account balances		951,068		353,549
Unearned premiums		1		3
Payables to affiliates		2,480		1,292
Accounts payable and other liabilities		11,177		2,954
Total liabilities		$ 986,263		$ 380,166
Commitments and contingencies	[3]
Stockholder's equity
Common stock	[4]	$ 5,000		$ 5,000
Additional paid in capital		10,500		10,500
Accumulated Other Comprehensive Income, net of tax		(225)	[5]	222	[6]
Retained earnings (deficit)		6,273		3,493
Total stockholder's equity		21,548		19,215
Total liabilities and stockholder's equity		$ 1,007,811		$ 399,381
[1]	Amortized cost - $12,698
[2]	Amortized cost - $12,854
[3]	Note 11
[4]	Common stock, $5 par value, authorized 1,000 shares; issued and outstanding 1,000 shares
[5]	Accumulated other comprehensive income, net of tax benefit - $(122)
[6]	Accumulated other comprehensive income, net of tax expense - $118

Balance Sheets - Parenthetical

Balance Sheets - Parenthetical - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Balance Sheets
Common Stock, Par Value	$ 5	$ 5
Common Stock, Shares Authorized	1,000	1,000
Common Stock, Shares Issued	1,000	1,000
Common Stock, Shares Outstanding	1,000	1,000
Amortized cost of debt securities available for sale	$ 12,698	$ 12,854
Tax expense (benefit) in Accumulated Other Comprehensive Income	$ (122)	$ 118

Statements of Operations and Co

Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Revenues
Life and health premiums, net		$ (1,175)		$ 127		$ 139
Contract charges		18		24		46
Net investment income		366		278		176
Net realized investment gains		117
Other income		5,336				293
Total revenues		4,662		429		654
Benefits and expenses
Life and health insurance claims and benefits, net		(1,204)		112		179
Interest credited to policyholder account balances		4		8		9
Operating and other expenses	[1]	1,633		137		86
Total benefits and expenses		433		257		274
Income (loss) before income taxes		4,229		172		380
Income tax expense (benefit)		1,449		11		249
Net Income (Loss)		2,780		161		131
Change in unrealized gains (losses), net of tax expense (benefit)		(437)	[2]	(47)	[3]	(154)	[4]
Reclassification adjustment for (gains) included in net income, net of tax expense (benefit)	[5]	(10)
Other Comprehensive Income (Loss)		(447)		(47)		(154)
Total Comprehensive Income (Loss)		$ 2,333		$ 114		$ (23)
[1]	Note 6
[2]	Net of tax expense (benefit) - ($235)
[3]	Net of tax expense (benefit) - ($25).
[4]	Net of tax expense (benefit) - ($105).
[5]	Net of tax (benefit) - ($5).

Statements of Operations and C5

Statements of Operations and Comprehensive Income (Loss) - Parenthetical - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statements of Operations and Comprehensive Income (Loss)
Tax expense (benefit) portion of change in unrealized gains (losses)	$ (235)	$ (25)	$ (105)
Tax expense (benefit) portion of Reclassification Adjustment for losses (gains) included in net income	$ (5)

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings (Deficit)	Total
Balance at Dec. 31, 2012	$ 5,000	$ 10,500	$ 423	$ 3,201	$ 19,124
Net Income (Loss)				131	131
Other Comprehensive Income (Loss)			(154)		(154)
Balance at Dec. 31, 2013	5,000	10,500	269	3,332	19,101
Net Income (Loss)				161	161
Other Comprehensive Income (Loss)			(47)		(47)
Balance at Dec. 31, 2014	5,000	10,500	222	3,493	19,215
Net Income (Loss)				2,780	2,780
Other Comprehensive Income (Loss)			(447)		(447)
Balance at Dec. 31, 2015	$ 5,000	$ 10,500	$ (225)	$ 6,273	$ 21,548

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net Income (Loss)	$ 2,780	$ 161	$ 131
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Policyholder charges on investment type contracts	(18)	(24)	(46)
Net realized investment gains	(117)
Interest credited to policyholder account balances	4	8	9
Deferred income charges	(2)	197	675
Amortization of bond premium and discount	61	75	86
Amortization and write off of deferred charges	26	26	21
Increase (Decrease) in Accrued investment income	(54)	(16)	9
Increase (Decrease) in Reinsurance recoverable	273	326	611
Increase (Decrease) in Premiums receivable	2	4	2
Increase (Decrease) in Other assets and receivables	(1,828)	356	(1,079)
Increase (Decrease) in Federal income taxes recoverable from affiliate	1,281	87	1,892
Increase (Decrease) in Insurance reserves	(831)	(828)	(916)
Increase (Decrease) in Unearned premiums	(2)		(1)
Increase (Decrease) in other liabilities	9,412	955	2,892
Net cash provided by operating activities	10,987	1,327	4,286
Cash flows from investing activities:
Purchases of Debt Securities	(8,760)	(7,535)
Proceeds from sale or maturity of Debt Securities	8,987	750	1,665
Net payments received on policy loans	104	6
Net cash provided by (used in) investing activities	331	(6,779)	1,665
Cash flows from financing activities:
Policyholder account deposits	596,817	252,273	89,726
Policyholder account withdrawals	(12,250)	(3,581)	(930)
Assets on deposit - deposits	(596,492)	(252,273)	(89,382)
Assets on deposit - withdrawals	12,098	3,531	813
Change in bank overdrafts			1
Net cash provided by (used in) financing activities	173	(51)	228
Change in cash and cash equivalents	11,491	(5,503)	6,179
Cash and cash equivalents at beginning of period	5,602	11,105	4,926
Cash and cash equivalents at end of period	17,093	5,602	11,105
Supplemental disclosure of cash information:
Cash received during the period for income taxes	$ (170)	$ 273	$ 2,318

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2015
Notes
Nature of Business	Note 1: Nature of Business MEMBERS Life Insurance Company (“MLIC” or the “Company”) is a life and health insurance stock company organized under the laws of Iowa and a wholly-owned subsidiary of CUNA Mutual Investment Corporation (“CMIC”). CMIC is organized under the laws of Wisconsin and is a wholly-owned subsidiary of CMFG Life Insurance Company (“CMFG Life”), an Iowa life insurance company. CMFG Life and its affiliated companies primarily sell insurance and other products to credit unions and their members. The Company’s ultimate parent is CUNA Mutual Holding Company (“CMHC”), a mutual insurance holding company organized under the laws of Iowa. In 2013, MLIC began selling single premium deferred annuity contracts to credit union members through face-to-face and direct response distribution channels. Prior to 2013, MLIC did not actively market new business; it primarily serviced existing blocks of individual and group life policies. See Note 7, Reinsurance, for information on the Company’s reinsurance and ceding agreements. MLIC is authorized to sell life, health and annuity policies in all states in the U.S. and the District of Columbia, except New York. The following table identifies states with premiums greater than 5% of total direct premium and states with deposits on annuity contracts greater than 5% of total deposits: Deposits on Direct Life and Health Premium Annuity Contracts 2015 2014 2013 2015 2014 2013 Michigan 63% 63% 64% 8% 12% 11% Texas 23% 22% 22% 7% 8% -- California 5% 5% 5% 8% -- -- Indiana -- -- -- 6% 6% 6% Iowa -- -- -- 5% 8% 17% Wisconsin -- -- -- 5% 7% 7% Pennsylvania -- -- -- 5% 6% 5% Florida -- -- -- 5% 5% -- Washington -- -- -- 5% -- -- Rhode Island -- -- -- -- 8% 6% Utah -- -- -- -- -- 5% *Less than 5%. No other state represents more than 5% of the Company’s premiums or deposits for any year in the three years ended December 31, 2015. CMFG Life provides significant services required in the conduct of the Company’s operations. Management believes allocations of expenses are reasonable, but the results of the Company’s operations may have materially differed from the results reflected in the accompanying financial statements if the Company did not have this relationship.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Notes
Summary of Significant Accounting Policies	Note 2: Summary of Significant Accounting Policies Basis of Presentation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and in some cases the difference could be material. Investment valuations, embedded derivatives, deferred tax asset valuation reserves, and claim and policyholder benefit reserves are most affected by the use of estimates and assumptions. Segment Reporting The Company is currently managed as two reportable business segments, (1) life and health and (2) annuities. See Note 7, Reinsurance, for information on the Company’s reinsurance and ceding agreements, which impact the financial statement presentation of these segments. Investments Debt securities: Unrealized gains and losses on investments in debt securities, net of deferred federal income taxes, are included in accumulated other comprehensive income as a separate component of stockholder’s equity. Policy loans: Net investment income: Net realized gains and losses: Derivative Financial Instruments The Company issues single premium deferred annuity contracts that contain embedded derivatives. Derivatives embedded within non-derivative host contracts are separated from the host instrument when the embedded derivative is not clearly and closely related to the host instrument. Such embedded derivatives are recorded at fair value, and they are reported as part of assets on deposit and policyholder account balances in the balance sheets, with the change in the value being recorded in net realized investment gains. See Note 3, Investments-Embedded Derivatives for additional information. Changes in the fair value of the embedded derivative in assets on deposit offset changes in the fair value of the embedded derivative in policyholder account balances; both of these changes are included in net realized investment gains. Accretion of the interest on assets on deposit offsets accretion of the interest on the host contract; both of these amounts are included in interest credited on policyholder account balances. Cash and Cash Equivalents Cash and cash equivalents include unrestricted deposits in financial institutions with maturities of 90 days or less. The Company recognizes a liability in accounts payable and other liabilities for the amount of checks issued in excess of its current cash balance. The change in this overdraft amount is recognized as a financing activity in the Company’s statement of cash flows. Recognition of Insurance Revenue and Related Benefits Term-life and whole-life insurance premiums are recognized as premium income when due. Policy benefits for these products are recognized in relation to the premiums so as to result in the recognition of profits over the expected lives of the policies and contracts. Amounts collected on policies not subject to significant mortality or longevity risk, such as the Company’s single premium deferred annuity contracts, are considered investment contracts and are recorded as increases in policyholder account balances. Revenues from investment contracts principally consist of net investment income and contract charges such as expense and surrender charges. Expenses for investment contracts consist of interest credited to contracts, benefits incurred in excess of related policyholder account balances and policy maintenance costs. Because the Company has entered into an agreement with CMFG Life to cede 100% of this business, these revenues and expenses are ceded and do not impact the statement of operations and comprehensive income (loss). See Note 7, Reinsurance for additional information on this agreement. Other Income / Operating and Other Expenses Other income in 2015 and 2013 relates to legal settlements received on structured security investments that had previously been sold. Deferred Policy Acquisition Costs The costs of acquiring insurance business that are directly related to the successful acquisition of new and renewal business are deferred to the extent that such costs are expected to be recoverable from future profits. Such costs principally include commissions and sales costs, direct response advertising costs, premium taxes, and certain policy issuance and underwriting costs. Costs deferred on term-life and whole-life insurance products, deferred policy acquisition costs (“DAC”), are amortized in proportion to the ratio of the annual premium to the total anticipated premiums generated. Due to the age of the existing block of policies, all DAC has been fully amortized as of December 31, 2015 and 2014 and there was no amortization expense in 2015, 2014 or 2013. Acquisition costs on the Company’s single premium deferred annuity contracts are reimbursed through a ceding commission by CMFG Life, which assumes all deferrable costs as part of its agreement to assume 100% of this business from the Company. See Note 7, Reinsurance for additional information on this agreement. Insurance Reserves Life and health claim and policy benefit reserves consist principally of future policy benefit reserves and reserves for estimates of future payments on incurred claims reported but not yet paid and unreported incurred claims. Estimates for future payments on incurred claims are developed using actuarial principles and assumptions based on past experience adjusted for current trends. Any change in the probable ultimate liabilities is reflected in net income in the period in which the change is determined. When actual experience indicates that existing contract liabilities, together with the present value of future gross premiums will not be sufficient to recover the present value of future benefits or recover unamortized deferred acquisition costs, a premium deficiency will be recognized by either a reduction in unamortized acquisition costs or an increase in the liability for future benefits. There was no premium deficiency in 2015, 2014 or 2013. Policyholder Account Balances The Company recognizes a liability at the stated account value for policyholder deposits that are not subject to significant policyholder mortality or longevity risk and for universal life-type policies. The account value equals the sum of the original deposit and accumulated interest, less any withdrawals and expense charges. The average credited rate was 4.5% in 2015, 2014 and 2013. The future minimum guaranteed interest rate during the life of the contracts is 4.5%. The single premium deferred annuities, which are included in policyholder account balances, have two risk control accounts, referred to as the Secure and Growth Accounts; the Secure Account has a yearly credited interest rate floor of 0% and the yearly Growth Account floor is -10%. The Secure and Growth Accounts both have credited interest rate caps that vary with issuance. Interest is credited at the end of each contract year during the selected index term based on the allocation between risk control accounts and the performance of an external index during that contract year. Both the Growth Account and Secure Account are based on the S&P 500 Index. At the end of the initial index term, only the Secure Account will be available as an option to the policyholder. The average annualized credited rate was 1.65%, 1.10% and .72% in 2015, 2014 and 2013, respectively. Accounts Payable and Other Liabilities The Company issues annuity contracts on the 10 th th Reinsurance Reinsurance premiums, claims and benefits, commission expense reimbursements, and reserves related to reinsured business ceded are accounted for on a basis consistent with the accounting for the underlying direct policies that have been ceded and the terms of the reinsurance contracts. Premiums and insurance claims and benefits in the statements of operations and comprehensive income (loss) are reported net of the amounts ceded to other companies under such reinsurance contracts. Ceded insurance reserves and ceded benefits paid are included in reinsurance recoverables along with certain ceded policyholder account balances, which include mortality risk. A prepaid reinsurance asset is also recorded for the portion of unearned premiums related to ceded policies. Assets on Deposit Assets on deposit represent the amount of policyholder account balances related to the single premium deferred annuity contracts (investment-type contracts) that are ceded to CMFG Life. These investment-type contracts are accounted for on a basis consistent with the accounting for the underlying contracts. Since the related product is an investment-type contract, the Company accounts for the reinsurance of these contracts using the deposit method of accounting consistent with the terms of the ceding agreement. The related contract charges and interest credited to policyholder account balances in the statements of operations and comprehensive income (loss) are reported net of the amounts ceded under the agreement. See Note 7 for a further discussion of the ceding agreement. Income Taxes The Company recognizes taxes payable or refundable and deferred taxes for the tax consequences of differences between the financial reporting and tax basis of assets and liabilities. Deferred tax assets and liabilities are measured by applying the enacted tax rates to the difference between the financial statement and tax basis of assets and liabilities. The Company records current tax benefits and deferred tax assets utilizing a benefits-for-loss approach. Under this approach, current benefits are realized and deferred tax assets are considered realizable by the Company when realized or realizable by the consolidated group of which the Company is a member even if the benefits would not be realized on a stand-alone basis. The Company records a valuation allowance for deferred tax assets if it determines it is more likely than not that the asset will not be realized by the consolidated group. Deferred income tax assets can be realized through future earnings, including, but not limited to, the generation of future income, reversal of existing temporary differences and available tax planning strategies. The Company is subject to tax-related audits. These audits may result in additional tax assets or liabilities. In establishing tax liabilities, the Company determines whether a tax position is more likely than not to be sustained under examination by the appropriate taxing authority. Tax positions that do not meet the more likely than not standard are not recognized. Tax positions that meet this standard are recognized in the financial statements within net deferred tax assets or liabilities or federal income taxes recoverable or payable. Accounting Standards Updates Pending Adoption In May 2014, the Financial Accounting Standards Board (“FASB”) issued a comprehensive new revenue recognition standard, Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers . In January 2016, the FASB issued Accounting Standard Update (ASU) No. 2016-01 , Recognition and Measurement of Financial Assets and Liabilities

Investments

Investments	12 Months Ended
	Dec. 31, 2015
Notes
Investments	Note 3: Investments Debt Securities The amortized cost, gross unrealized gains and losses, and estimated fair values, as reported on the balance sheet, of debt securities at December 31, 2015 are as follows: Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value U.S. government and agencies $10,333 $26 $(546) $9,813 Mortgage-backed securities: Residential mortgage-backed 2,365 173 - 2,538 Total debt securities $12,698 $199 $(546) $12,351 The amortized cost, gross unrealized gains and losses, and estimated fair values, as reported on the balance sheet, of debt securities at December 31, 2014 are as follows: Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value U.S. government and agencies $9,888 $103 $(4) $9,987 Mortgage-backed securities: Residential mortgage-backed 2,966 241 - 3,207 Total debt securities $12,854 $344 $(4) $13,194 No investments were non-income producing in 2015 or 2014. The amortized cost and estimated fair values of investments in debt securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Because of the potential for prepayment on mortgage-backed securities, such securities have not been displayed in the table below by contractual maturity. Amortized Estimated Cost Fair Value Due in one year or less $ 1,261 $ 1,280 Due after one year through five years 315 322 Due after ten years 8,757 8,211 Mortgage-backed securities: Residential mortgage-backed 2,365 2,538 Total debt securities $ 12,698 $ 12,351 Net Investment Income Sources of investment income for the years ended December 31 are summarized as follows: 2015 2014 2013 Gross investment income: Debt securities $389 $304 $275 Policy loans 5 8 8 Other investments - - 6 Total gross investment income 394 312 289 Investment expenses (28) (34) (113) Net investment income $366 $278 $176 Net Realized Investment Gains Net realized investment gains for the years ended December 31 are summarized as follows: 2015 2014 2013 Debt securities Gross gains on sales $117 $- $- Net realized investment gains $117 $- $- Proceeds from the sale of debt securities was $8,389 in 2015, there were no sales or transfers of debt securities in 2014 or 2013 that resulted in a realized investment gain or loss. Other-Than-Temporary Investment Impairments Investment securities are reviewed for OTTI on an ongoing basis. The Company creates a watchlist of securities based largely on the fair value of an investment security relative to its cost basis. When the fair value drops below the Company’s cost, the Company monitors the security for OTTI. The determination of OTTI requires significant judgment on the part of the Company and depends on several factors, including, but not limited to: · · · · · · · A debt security is considered other-than-temporarily impaired when the fair value is less than the amortized cost basis and its value is not expected to recover through the Company's anticipated holding period of the security. If a credit loss exists, but the Company does not intend to sell the impaired debt security and is not more likely than not to be required to sell before recovery, it is required to bifurcate the impairment into the loss that is attributable to credit and non-credit related risk. The credit portion of the OTTI is the difference between the present value of the expected future cash flows and amortized cost. Only the estimated credit loss amount is recognized in earnings, with the remainder of the loss amount recognized in other comprehensive loss. If the Company intends to sell, at the time this determination is made, the Company records a realized loss equal to the difference between the amortized cost and fair value. The fair value of the other-than-temporarily impaired security becomes its new cost basis. In determining whether an unrealized loss is expected to be other than temporary, the Company considers, among other factors, any plans to sell the security, the severity of impairment, financial position of the issuer, recent events affecting the issuer’s business and industry sector, credit ratings, and the ability of the Company to hold the investment until the fair value has recovered at least its cost basis. For securitized debt securities, the Company considers factors including, commercial and residential property changes in value that vary by property type and location and average cumulative collateral loss rates that vary by vintage year. These assumptions require the use of significant management judgment and include the probability of issuer default and estimates regarding timing and amount of expected recoveries. In addition, projections of expected future debt security cash flows may change based upon new information regarding the performance of the issuer and/or underlying collateral. For certain securitized financial assets with contractual cash flows, the Company is required to periodically update its best estimate of cash flows over the life of the security. If the fair value of a securitized financial asset is less than its cost or amortized cost and there has been a decrease in the present value of the estimated cash flows since the last revised estimate, considering both timing and amount, an OTTI charge is recognized. The Company also considers its intent to retain a temporarily impaired security until recovery. Estimating future cash flows involves judgment and includes both quantitative and qualitative factors. Such determinations incorporate various information and assessments regarding the future performance of the underlying collateral. In addition, projections of expected future cash flows may change based upon new information regarding the performance of the underlying collateral. Management has completed a review for other-than-temporarily impaired securities at December 31, 2015, 2014 and 2013 and recorded no OTTI. As a result of the subjective nature of these estimates, however, provisions may subsequently be determined to be necessary as new facts emerge and a greater understanding of economic trends develops. Consistent with the Company’s practices, OTTI will be recorded as appropriate and as determined by the Company’s regular monitoring procedures of additional facts. Net Unrealized Investment Gains (Losses) The components of net unrealized investment gains (losses) included in accumulated other comprehensive income (loss) at December 31 were as follows: 2015 2014 2013 Debt securities $(347) $340 $412 Deferred income taxes 122 (118) (143) Net unrealized investment gains (losses) $(225) $222 $269 At December 31, 2015, the Company owned one debt security with a fair value of $8,210 in an unrealized loss position of $546 for less than twelve months. At December 31, 2014 the Company owned one debt security with a fair value of $7,526 in an unrealized loss position of $4 for less than twelve months. The Company did not have any gross unrealized losses at December 31, 2013. Embedded Derivatives The Company issues single premium deferred annuity contracts that contain embedded derivatives. Such embedded derivatives are separated from their host contracts and recorded at fair value. The fair value of the embedded derivatives, which are reported as part of assets on deposit and policyholder account balances in the balance sheets, were an asset of $122,043 and a liability of $122,043, respectively, as of December 31, 2015 and an asset of $45,503 and a liability of $45,503, respectively, as of December 31, 2014. The increase in fair value related to embedded derivatives from the date of deposit was $3,591, $9,581 and $592 for the years ended December 31, 2015, 2014 and 2013, respectively. Because the Company has entered into an agreement with CMFG Life to cede 100% of this business, this expense is ceded and does not impact the statement of operations and comprehensive income (loss). Assets Designated/Securities on Deposit Iowa law requires that assets equal to a life insurer’s “legal reserve” must be designated for the Iowa Department of Commerce, Insurance Division. The legal reserve is equal to the net present value of all outstanding policies and contracts involving life contingencies. At December 31, 2015 and 2014, debt securities, policy loans and cash with a carrying value of $10,618 and $11,512, respectively, were accordingly designated for Iowa. Other regulatory jurisdictions require cash and securities to be deposited for the benefit of policyholders. Pursuant to these requirements, securities with a fair value of $1,732 and $1,854 were on deposit with other regulatory jurisdictions as of December 31, 2015 and 2014, respectively.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2015
Notes
Fair Value	Note 4: Fair Value The Company uses fair value measurements to record fair value of certain assets and liabilities and to estimate fair value of financial instruments not recorded at fair value but required to be disclosed at fair value. Certain financial instruments, such as insurance policy liabilities (other than investment-type contracts), are excluded from the fair value disclosure requirements. Valuation Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value of assets and liabilities into three broad levels. The Company has categorized its financial instruments, based on the degree of subjectivity inherent in the valuation technique, as follows: · · · For purposes of determining the fair value of the Company’s assets and liabilities, observable inputs are those inputs used by market participants in valuing financial instruments, which are developed based on market data obtained from independent sources. In the absence of sufficient observable inputs, unobservable inputs, reflecting the Company’s estimates of the assumptions market participants would use in valuing financial assets and liabilities, are developed based on the best information available in the circumstances. The Company uses prices and inputs that are current as of the measurement date. In some instances, valuation inputs used to measure fair value fall into different levels of the fair value hierarchy. The category level in the fair value hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The hierarchy requires the use of market observable information when available for assessing fair value. The availability of observable inputs varies by investment. In situations where the fair value is based on inputs that are unobservable in the market or on inputs from inactive markets, the determination of fair value requires more judgment and is subject to the risk of variability. The degree of judgment exercised by the Company in determining fair value is typically greatest for investments categorized in Level 3. Transfers in and out of level categorizations are reported as having occurred at the end of the quarter in which the transfer occurred. Therefore, for all transfers into Level 3, all realized gains and losses and all changes in unrealized gains and losses in the fourth quarter are not reflected in the Level 3 rollforward table. Valuation Process The Company is responsible for the determination of fair value and the supporting assumptions and methodologies. The Company gains assurance on the overall reasonableness and consistent application of valuation methodologies and inputs and compliance with accounting standards through the execution of various processes and controls designed to provide assurance that the Company’s assets and liabilities are appropriately valued. The Company has policies and guidelines that require the establishment of valuation methodologies and consistent application of such methodologies. These policies and guidelines govern the use of inputs and price source hierarchies and provide controls around the valuation processes. These controls include appropriate review and analysis of prices against market activity or indicators of reasonableness, approval of price source changes, price overrides, methodology changes and classification of fair value hierarchy levels. The valuation policies and guidelines are reviewed and updated as appropriate. For fair values received from third parties or internally estimated, the Company’s processes are designed to provide assurance that the valuation methodologies and inputs are appropriate and consistently applied, the assumptions are reasonable and consistent with the objective of determining fair value, and the fair values are appropriately recorded. The Company performs procedures to understand and assess the methodologies, process and controls of valuation service providers. In addition, the Company may validate the reasonableness of fair values by comparing information obtained from valuation service providers or brokers to other third party valuation sources for selected securities. When using internal valuation models, these models are developed by the Company’s investment group using established methodologies. The models including key assumptions are reviewed with various investment sector professionals, accounting, operations, compliance and risk management. In addition, Transfers Between Levels There were no transfers between levels during the year ended December 31, 2015. There were two U.S. government and agency securities totaling $2,556 transferred from Level 1 to Level 2 during the year ended December 31, 2014. The transfer occurred due to a change in the availability of the observable inputs. There were no other transfers in 2014. Fair Value Measurement – Recurring Basis The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2015. Assets, at Fair Value Level 1 Level 2 Level 3 Total Cash equivalents 1 $ 16,080 $ - $ - $ 16,080 Debt securities: U.S. government and agencies - 9,813 - 9,813 Mortgage-backed securities: Residential mortgage-backed - 2,538 - 2,538 Total debt securities - 12,351 - 12,351 Derivatives embedded in assets on deposit - - 122,043 122,043 Total assets $ 16,080 $ 12,351 $ 122,043 $ 150,474 Liabilities, at Fair Value Level 1 Level 2 Level 3 Total Derivatives embedded in annuity contracts $ - $ - $ 122,043 $ 122,043 Total liabilities $ - $ - $ 122,043 $ 122,043 1 The following table summarizes the Company’s assets that are measured at fair value on a recurring basis as of December 31, 2014. Assets, at Fair Value Level 1 Level 2 Level 3 Total Cash equivalents 1 $3,681 $- $- $3,681 Debt securities: U.S. government and agencies - 9,987 - 9,987 Mortgage-backed securities: Residential mortgage-backed - 3,207 - 3,207 Total debt securities - 13,194 - 13,194 Derivatives embedded in assets on deposit - - 45,503 45,503 Total assets $3,681 $13,194 $45,503 $62,378 Liabilities, at Fair Value Level 1 Level 2 Level 3 Total Derivatives embedded in annuity contracts $ - $ - $ 45,503 $ 45,503 Total liabilities $ - $ - $ 45,503 $ 45,503 1 The Company had no assets or liabilities that required a fair value adjustment on a non-recurring basis as of December 31, 2015 or 2014. Changes in Fair Value Measurement The following table sets forth the values of assets and liabilities classified as Level 3 within the fair value hierarchy at December 31, 2015. Total Realized/Unrealized Gain (Loss) Included in: Balance Balance January 1, December 31, 2015 Purchases Maturities Earnings 1 2015 Derivatives embedded in assets on deposit $45,503 $73,631 $(682) $3,591 $122,043 Total assets $45,503 $73,631 $(682) $3,591 $122,043 Derivatives embedded in annuity contracts $45,503 $73,631 $(682) $3,591 $122,043 Total liabilities $45,503 $73,631 $(682) $3,591 $122,043 1 The following table sets forth the values of assets and liabilities classified as Level 3 within the fair value hierarchy at December 31, 2014. Total Realized/Unrealized Gain (Loss) Included in: Balance Balance January 1, December 31, 2014 Purchases Maturities Earnings 1 2014 Derivatives embedded in assets on deposit $ 8,652 $ 27,522 $ (252) $ 9,581 $ 45,503 Total assets $ 8,652 $ 27,522 $ (252) $ 9,581 $ 45,503 Derivatives embedded in annuity contracts $ 8,652 $ 27,522 $ (252) $ 9,581 $ 45,503 Total liabilities $8,652 $ 27,522 $ (252) $ 9,581 $ 45,503 1 Determination of Fair Values The Company determines the estimated fair value of its investments using primarily the market approach and the income approach. The use of quoted prices and matrix pricing or similar techniques are examples of market approaches, while the use of discounted cash flow methodologies is an example of the income approach. A summary of valuation techniques for classes of financial assets and liabilities by fair value hierarchy level are as follows: Level 1 Measurements Cash equivalents: Level 2 Measurements U.S. government and agencies: Residential mortgage-backed securities: For the majority of assets classified as Level 2 investments, the Company values the assets using third-party pricing sources, which generally rely on quoted prices for similar assets in markets that are active and observable market data. Level 3 Measurements Derivatives embedded in assets on deposit and annuity contracts: In estimating the fair value of the embedded derivative, the Company attributes a present value to the embedded derivative equal to the discounted sum of the excess cash flows of the index related fund value over the minimum fund value. The current year portion of the embedded derivative is adjusted for known market conditions. The discount factor at which the embedded derivative is valued contains an adjustment for the Company’s own credit and risk margins for unobservable non-capital market inputs. The Company’s own credit adjustment is determined taking into account its A.M. Best rating as well as its claims paying ability. These derivatives may be more costly than expected in volatile or declining equity markets. Changes in market conditions include, but are not limited to, changes in interest rates, equity indices, default rates and market volatility. Changes in fair value may be impacted by changes in the Company’s own credit standing. Lastly, changes in actuarial assumptions regarding policyholder behavior (such as full or partial withdrawals varying from expectations) and risk margins related to non-capital market inputs may result in significant fluctuations in the fair value of the derivatives. See Embedded Derivatives within Note 3, Investments for the impact to net income. The following table presents information about significant unobservable inputs used in Level 3 embedded derivative assets and liabilities measured at fair value developed by internal models as of December 31, 2015 and 2014: Predominant Valuation Significant Range of Values - Unobservable Input Method Unobservable Input 2015 2014 Derivatives embedded in single premium deferred annuities and related assets on deposit Discounted cash flow Lapse rates 2% to 4% with an excess lapse rate at the end of the index period of 95%. 2% to 4% with an excess lapse rate at the end of the index period of 95%. Company's own credit and risk margin 82 - 137 basis points added on to discount rate 60 - 90 basis points added on to discount rate Fair Value Measurements for Financial Instruments Not Reported at Fair Value Accounting standards require disclosure of fair value information about certain on- and off balance sheet financial instruments which are not recorded at fair value on a recurring basis for which it is practicable to estimate that value. The following methods and assumptions were used by the Company in estimating the fair value disclosures for significant financial instruments: Level 1 Measurements Cash: Level 2 Measurements Assets on deposit and Investment-type contracts: Not Practicable to Estimate Fair Value Policy loans: The carrying amounts and estimated fair values of the Company’s financial instruments which are not measured at fair value on a recurring basis at December 31 are as follows: 2015 2014 Carrying Estimated Carrying Estimated Amount Fair Value Level Amount Fair Value Level Financial instruments recorded as assets: Cash $ 1,013 $ 1,013 1 $ 1,921 $ 1,921 1 Policy loans - n/a n/a 104 n/a n/a Assets on deposit 825,552 699,721 2 304,434 294,710 2 Financial instruments recorded as liabilities: Investment-type contracts 825,552 699,721 2 304,434 294,710 2

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2015
Notes
Income Tax	Note 5: Income Tax The Company is included in the consolidated federal income tax return filed by CMHC, the Company’s ultimate parent. The Company has entered into a tax sharing agreement with CMHC and its subsidiaries. The agreement provides for the allocation of tax expense based on each subsidiary’s contribution to the consolidated federal income tax liability. Pursuant to the agreement, subsidiaries that have incurred losses are reimbursed regardless of the utilization of the loss in the current year. Federal income taxes recoverable from affiliate reported on the balance sheet are due from CMFG Life. Income Tax Expense Income tax expense for the years ended December 31 is as follows: 2015 2014 2013 Current tax expense (benefit) $ 1,451 $ (186) $ (426) Deferred tax expense (benefit) (2) 197 675 Total income tax expense $ 1,449 $ 11 $ 249 Reconciliation to U.S. Tax Rate Income tax expense differs from the amount computed by applying the U.S. federal corporate income tax rate of 35% to income before income taxes due to the items listed in the following reconciliation: 2015 2014 2013 Amount Rate Amount Rate Amount Rate Tax expense computed at federal corporate tax rate $1,480 35.0% $60 35.0% $133 35.0% Income tax expense (benefit) related to prior years (31) (0.7) (41) (23.9) 116 30.5 Other - - (8) (4.7) - - Total income tax expense $1,449 34.3% $11 6.4% $249 65.5% Deferred Income Taxes Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial statement purposes and the amounts for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2015 and 2014 are as follows: 2015 2014 Deferred tax assets Policy liabilities and reserves $36 $81 Unrealized investment losses 122 - Investments 168 276 Accrued expenses 94 26 Deferred policy acquisition costs 309 230 Other 1 3 Gross deferred tax assets 730 616 Deferred tax liabilities Unrealized investment gains - 118 Deferred reinsurance expense 47 56 Other 1 2 Gross deferred tax liabilities 48 176 Net deferred tax asset $682 $440 Valuation Allowance The Company considered the need for a valuation allowance with respect to its gross deferred tax assets as of December 31, 2015 and 2014, and based on that evaluation, the Company has determined it is more likely than not all deferred tax assets as of December 31, 2015 and 2014 will be realized. Therefore, a valuation allowance was not established. Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2015 2014 Balance at January 1 $ 1 $ 7 Reductions for prior years' tax positions 0 (6) Balance at December 31 $ 1 $ 1 There were no unrecognized tax benefits as of December 31, 2015 and 2014 that, if recognized, would affect the effective tax rate in future periods. Management does not anticipate a material change to the Company’s uncertain tax positions during 2016. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense in the statements of comprehensive income (loss). The Company did not recognize any additions or reductions in interest and penalties for the year ended December 31, 2015 or 2014. During the year ended December 31, 2013 the Company recognized additions of $1 in interest and penalties. The Company had accrued $7 and $7 for the payment of interest and penalties at December 31, 2015 and 2014, respectively. The Company is included in a consolidated U.S. federal income tax return filed by CMHC. The Company is also included in income tax returns filed in various states. For the major jurisdictions where it operates, the Company is generally no longer subject to income tax examinations by tax authorities for years ended before 2008. Other Tax Items As of December 31, 2015 and 2014, the Company did not have any capital loss, operating loss or credit carryforwards.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Notes
Related Party Transactions	Note 6: Related Party Transactions In the normal course of business, there are various transactions between the Company and other related entities. In certain circumstances, expenses such as those related to sales and marketing, administrative, operations, other support and infrastructure costs are shared between the companies. Expenses incurred that are specifically identifiable with a particular company are borne by that company; other expenses are allocated among the companies on the basis of time and usage studies. Amounts due from transactions with affiliates are generally settled monthly. The Company reimbursed CMFG Life $8,447, $5,641 and $2,492 for these expenses in 2015, 2014 and 2013, respectively; which are included in operating and other expenses. Amounts receivable/payable from/to affiliates are shown in the following table: 2015 2014 Receivable from: CMFG Life $ 4,518 $ 2,765 Total $ 4,518 $ 2,765 Payable to: CUNA Brokerage Services, Inc. $ 2,478 $ 1,290 MEMBERS Capital Advisors, Inc. 2 2 Total $ 2,480 $ 1,292 Amounts receivable from CMFG Life at December 31, 2015 and 2014 are primarily for a policyholder’s purchase of an annuity when a CMFG Life policyholder has surrendered their policy for the purchase of a single premium deferred annuity and for the cession of death claims related to the Company’s single premium deferred annuity. The Company hires MEMBERS Capital Advisors, Inc. (“MCA”) for investment advisory services. MCA, which is 100% owned by CMIC, manages substantially all of the Company’s invested assets in accordance with policies, directives and guidelines established by the Company. The Company recorded MCA investment management fees totaling $28, $34 and $113 for the years ended December 31, 2015, 2014 and 2013, respectively, which are included as a reduction to net investment income. The Company utilizes CUNA Brokerage Services, Inc. (“CBSI”), which is 100% owned by CMIC, to distribute its single premium deferred annuity and recorded commission expense for this service of $23,072, $10,853 and $4,256 in 2015, 2014 and 2013, respectively, which is included in operating and other expenses. This expense is entirely offset by commission income the Company receives from CMFG Life as part of the 2013 reinsurance agreement. See Note 7 regarding reinsurance and other agreements entered into by the Company and CMFG Life.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2015
Notes
Reinsurance	Note 7: Reinsurance The Company entered into a reinsurance agreement with its affiliate, CMFG Life, on a coinsurance and modified coinsurance basis. The agreement was effective November 1, 2015 to cede 100% of the business related to a new product currently in development, which includes any related development expenses. The Company receives a commission equal to 100% of its actual expenses incurred for this business, which was $1,027 for the year ended December 31, 2015. The Company entered into an agreement with its affiliate, CMFG Life, effective January 1, 2013 to cede 100% of its investment-type contracts for its single premium deferred annuity, which are accounted for using the deposit method of accounting. The Company had $947,595 and $349,937 of assets on deposit for these contracts as of December 31, 2015 and 2014, respectively. The Company had related liabilities of $947,595 and $349,937, respectively which are included in policyholder account balances in the balance sheets. The Company receives a commission equal to 100% of its actual expenses incurred for this business, which was $34,236, $14,861 and $6,425 for the year ended December 31, 2015, 2014 and 2013, respectively. On October 31, 2012, the Company ceded 95% of its insurance policies in force pursuant to a reinsurance agreement with CMFG Life and the Company was reimbursed for 95% of expenses incurred in the provision of policyholder and benefit payment services, and insurance taxes and charges on a go forward basis under this contract. On September 30, 2015, the Company amended its reinsurance agreement with CMFG Life and now cedes 100% of its insurance policies in force to CMFG Life and is reimbursed 100% for expenses incurred in the provision of policyholder and benefit payments services, and insurance taxes and charges going forward. As a result of the amendment to this agreement the Company ceded $1,297 of earned premiums and $1,244 of benefits as of September 30, 2015. MLIC did not have any other reinsurance agreements at December 31, 2015 or 2014 and the entire reinsurance recoverable balance of $24,628 and $25,199, respectively, was due from CMFG Life. The recoverable balances are not collateralized and the Company retains the risk of loss in the event CMFG Life is unable to meet its obligations assumed under the reinsurance agreements. CMFG Life is rated A (excellent) by A.M. Best Company and MLIC believes the risk of non-collection is remote. The effects of reinsurance on contract charges, interest credited to policyholder accounts, premiums and on claims, benefits, and losses incurred for the years ended December 31 are as follows: 2015 2014 2013 Face amount of policies in force $110,827 $123,223 $147,371 Premiums: Direct - written $2,384 $2,613 $2,811 Direct - change in unearned - - - Direct - earned 2,384 2,613 2,811 Ceded to affiliate - written (3,559) (2,482) (2,671) Ceded to affiliate - change in unearned - (4) (1) Ceded to affiliate - earned (3,559) (2,486) (2,672) Premiums - written, net (1,175) 131 140 Premiums - change in unearned, net - (4) (1) Premiums, net $(1,175) $127 $139 Contract charges: Direct $742 $472 $461 Ceded to affiliate (724) (448) (415) Contract charges, net $18 $24 $46 Claims, benefits and losses incurred: Direct $1,784 $1,883 $2,953 Ceded to affiliate (2,988) (1,771) (2,774) Claims, benefits and losses, net $(1,204) $112 $179 Interest credited to policyholder account balances: Direct $9,833 $2,457 $320 Ceded to affiliate (9,829) (2,449) (311) Interest credited to policyholder account balances, net $4 $8 $9

Statutory Financial Data and Di

Statutory Financial Data and Dividend Restrictions	12 Months Ended
	Dec. 31, 2015
Notes
Statutory Financial Data and Dividend Restrictions	Note 8: Statutory Financial Data and Dividend Restrictions The Company is a life and health insurer and is domiciled in Iowa. The Company files statutory-basis financial statements with insurance regulatory authorities. The Company did not use any permitted practices in 2015, 2014 or 2013. Certain statutory basis financial information for MLIC is presented in the table below as of and for the years ended December 31. Statutory Basis Statutory Basis Capital and Surplus Net Income (Loss) 2015 2014 2015 2014 2013 MLIC $ 21,111 $ 18,366 $ 1,112 $ (1,792) $ (1,562) The Company is subject to statutory regulations as to maintenance of equity and the payment of dividends. Generally, ordinary dividends from an insurance subsidiary to its parent company must meet notice requirements promulgated by the regulator of the subsidiary’s state of domicile (“Insurance Department”). Extraordinary dividends, as defined by state statutes, must be approved by the Insurance Department. Based on Iowa statutory regulations, the Company could pay dividends up to $2,111 during 2016, without prior approval of the Insurance Department. Risk-based capital (“RBC”) requirements promulgated by the National Association of Insurance Commissioners require U.S. insurers to maintain minimum capitalization levels that are determined based on formulas incorporating credit risk, insurance risk, interest rate risk, and general business risk. The adequacy of the Company’s actual capital is evaluated by a comparison to the RBC results, as determined by the formula. At December 31, 2015 and 2014, the Company’s adjusted capital exceeded the minimum requirements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2015
Notes
Accumulated Other Comprehensive Income	Note 9: Accumulated Other Comprehensive Income (Loss) The components of accumulated comprehensive income (loss), net of tax, are as follows: Accumulated Unrealized Other Investment Comprehensive Gains (Loss) Income (Loss) Balance, January 1, 2013 $ 423 $ 423 Change in unrealized holding gains (losses),net of tax - ($105) (154) (154) Balance, December 31, 2013 269 269 Change in unrealized holding gains (losses), net of tax - ($25) (47) (47) Balance, December 31, 2014 222 222 Change in unrealized holding gains (losses), net of tax - ($240) (447) (447) Balance, December 31, 2015 $ (225) $ (225) Reclassification Adjustments Accumulated other comprehensive income (losses) includes amounts related to unrealized investment gains (losses) which were reclassified to net income. Reclassifications from accumulated other comprehensive income (losses) for the years ended December 31 are included in the following table: 2015 2014 2013 Reclassifications from accumulated other comprehensive income (losses) Unrealized gains on available-for-sale securities included in net realized investment losses $ 15 $ - $ - Total reclassifications from accumulated other comprehensive income (losses) 15 - - Tax expense 5 - - Net reclassification from accumulated other comprehensive income (losses) $ 10 $ - $ -

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2015
Notes
Business Segment Information	Note 10: Business Segment Information The following table sets forth financial information regarding the Company’s two reportable business segments for the year ended December 31, 2015. Year ended or as of December 31, 2015 Life and Health Annuities Total Revenues Life and health premiums, net $ (1,175) $ - $ (1,175) Contract charges 18 - 18 Net investment income 366 - 366 Net realized investment gains 117 - 117 Other income 5,336 - 5,336 Total revenues 4,662 - 4,662 Benefits and expenses Life and health insurance claims and benefits, net (1,204) - (1,204) Interest credited to policyholder account balances 4 - 4 Operating and other expenses 1,633 - 1,633 Total benefits and expenses 433 - 433 Income before income taxes 4,229 - 4,229 Income tax expense 1,449 - 1,449 Net income 2,780 - 2,780 Change in unrealized (losses), net of tax (benefit) (447) - (447) Other comprehensive (loss) (447) - (447) Total comprehensive income $ 2,333 $ - $ 2,333 Reinsurance recoverable from affiliate $ 24,628 $ - $ 24,628 Assets on deposit - 947,595 947,595 Claim and policy benefit reserves - life and health 21,077 460 21,537 Policyholder account balances 3,473 947,595 951,068 The following table sets forth financial information regarding the Company’s two reportable business segments for the year ended December 31, 2014. Year ended or as of December 31, 2014 Life and Health Annuities Total Revenues Life and health premiums, net $ 127 $ 127 Contract charges 24 - 24 Net investment income 278 - 278 Net realized investment gains - - - Other income - - - Total revenues 429 - 429 Benefits and expenses Life and health insurance claims and benefits, net 112 - 112 Interest credited to policyholder account balances 8 - 8 Operating and other expenses 137 - 137 Total benefits and expenses 257 - 257 Income before income taxes 172 - 172 Income tax expense 11 - 11 Net income 161 - 161 Change in unrealized (losses), net of tax (benefit) (47) - (47) Other comprehensive (loss) (47) - (47) Total comprehensive (loss) $ 114 $ - $ 114 Reinsurance recoverable from affiliate $ 25,199 $ - $ 25,199 Assets on deposit - 349,937 349,937 Claim and policy benefit reserves - life and health 22,035 333 22,368 Policyholder account balances 3,612 349,937 353,549 The following table sets forth financial information regarding the Company’s two reportable business segments for the year ended December 31, 2013. Year ended or as of December 31, 2013 Life and Health Annuities Total Revenues Life and health premiums, net $ 139 $ - $ 139 Contract charges 46 - 46 Net investment income 176 - 176 Net realized investment gains - - - Other income 293 - 293 Total revenues 654 - 654 Benefits and expenses Life and health insurance claims and benefits, net 179 - 179 Interest credited to policyholder account balances 9 - 9 Operating and other expenses 86 - 86 Total benefits and expenses 274 - 274 Income before income taxes 380 - 380 Income tax expense 249 - 249 Net income 131 - 131 Change in unrealized (losses), net of tax (benefit) (154) - (154) Other comprehensive (loss) (154) - (154) Total comprehensive (loss) $ (23) $ - $ (23) Reinsurance recoverable from affiliate $ 25,525 $ - $ 25,525 Assets on deposit - 89,313 89,313 Claim and policy benefit reserves - life and health 23,196 - 23,196 Policyholder account balances 3,734 89,313 93,047

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Notes
Commitments and Contingencies	Note 11: Commitments and Contingencies Insurance Guaranty Funds The Company is liable for guaranty fund assessments related to certain unaffiliated insurance companies that have become insolvent during 2015 and prior years. The Company includes a provision for all known assessments that will be levied as well as an estimate of amounts that it believes will be assessed in the future relating to past insolvencies. The Company has established a liability of $270 and $75 at December 31, 2015 and 2014, respectively, for guaranty fund assessments. The Company also estimates the amount recoverable from future premium tax payments related to these assessments and has not established an asset as of December 31, 2015 and 2014 since it does not believe any amount will be recoverable. Recoveries of assessments from premium taxes are generally made over a five-year period. Legal Matters Like other members of the insurance industry, the Company is occasionally a party to a number of lawsuits and other types of proceedings, some of which may involve claims for substantial or indeterminate amounts. These actions are based on a variety of issues and involve a range of the Company's practices. The Company has established procedures and policies to facilitate compliance with laws and regulations and to support financial reporting. In connection with regulatory examinations and proceedings, government authorities may seek various forms of relief, including penalties, restitution and changes in business practices. The Company may not be advised of the nature and extent of relief sought until the final stages of the examination or proceeding. In the opinion of management, the ultimate liability, if any, resulting from all such pending actions will not materially affect the financial statements of the Company.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Notes
Subsequent Events	Note 12: Subsequent Events The Company evaluated subsequent events through the date the financial statements were issued. During this period, there were no significant subsequent events that required adjustment to or disclosure in the accompanying financial statements

Summary of Significant Accoun20

Summary of Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Basis of Presentation	Basis of Presentation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Summary of Significant Accoun21

Summary of Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and in some cases the difference could be material. Investment valuations, embedded derivatives, deferred tax asset valuation reserves, and claim and policyholder benefit reserves are most affected by the use of estimates and assumptions.

Summary of Significant Accoun22

Summary of Significant Accounting Policies: Segment Reporting (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Segment Reporting	Segment Reporting The Company is currently managed as two reportable business segments, (1) life and health and (2) annuities. See Note 7, Reinsurance, for information on the Company’s reinsurance and ceding agreements, which impact the financial statement presentation of these segments.

Summary of Significant Accoun23

Summary of Significant Accounting Policies: Investments (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Investments	Investments Debt securities: Unrealized gains and losses on investments in debt securities, net of deferred federal income taxes, are included in accumulated other comprehensive income as a separate component of stockholder’s equity. Policy loans: Net investment income: Net realized gains and losses:

Summary of Significant Accoun24

Summary of Significant Accounting Policies: Derivative Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Derivative Financial Instruments	Derivative Financial Instruments The Company issues single premium deferred annuity contracts that contain embedded derivatives. Derivatives embedded within non-derivative host contracts are separated from the host instrument when the embedded derivative is not clearly and closely related to the host instrument. Such embedded derivatives are recorded at fair value, and they are reported as part of assets on deposit and policyholder account balances in the balance sheets, with the change in the value being recorded in net realized investment gains. See Note 3, Investments-Embedded Derivatives for additional information. Changes in the fair value of the embedded derivative in assets on deposit offset changes in the fair value of the embedded derivative in policyholder account balances; both of these changes are included in net realized investment gains. Accretion of the interest on assets on deposit offsets accretion of the interest on the host contract; both of these amounts are included in interest credited on policyholder account balances.

Summary of Significant Accoun25

Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include unrestricted deposits in financial institutions with maturities of 90 days or less. The Company recognizes a liability in accounts payable and other liabilities for the amount of checks issued in excess of its current cash balance. The change in this overdraft amount is recognized as a financing activity in the Company’s statement of cash flows.

Summary of Significant Accoun26

Summary of Significant Accounting Policies: Recognition of Insurance Revenue and Related Benefits (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Recognition of Insurance Revenue and Related Benefits	Recognition of Insurance Revenue and Related Benefits Term-life and whole-life insurance premiums are recognized as premium income when due. Policy benefits for these products are recognized in relation to the premiums so as to result in the recognition of profits over the expected lives of the policies and contracts. Amounts collected on policies not subject to significant mortality or longevity risk, such as the Company’s single premium deferred annuity contracts, are considered investment contracts and are recorded as increases in policyholder account balances. Revenues from investment contracts principally consist of net investment income and contract charges such as expense and surrender charges. Expenses for investment contracts consist of interest credited to contracts, benefits incurred in excess of related policyholder account balances and policy maintenance costs. Because the Company has entered into an agreement with CMFG Life to cede 100% of this business, these revenues and expenses are ceded and do not impact the statement of operations and comprehensive income (loss). See Note 7, Reinsurance for additional information on this agreement.

Summary of Significant Accoun27

Summary of Significant Accounting Policies: Other Income (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Other Income	Other Income / Operating and Other Expenses Other income in 2015 and 2013 relates to legal settlements received on structured security investments that had previously been sold.

Summary of Significant Accoun28

Summary of Significant Accounting Policies: Deferred Policy Acquisition Costs (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs The costs of acquiring insurance business that are directly related to the successful acquisition of new and renewal business are deferred to the extent that such costs are expected to be recoverable from future profits. Such costs principally include commissions and sales costs, direct response advertising costs, premium taxes, and certain policy issuance and underwriting costs. Costs deferred on term-life and whole-life insurance products, deferred policy acquisition costs (“DAC”), are amortized in proportion to the ratio of the annual premium to the total anticipated premiums generated. Due to the age of the existing block of policies, all DAC has been fully amortized as of December 31, 2015 and 2014 and there was no amortization expense in 2015, 2014 or 2013. Acquisition costs on the Company’s single premium deferred annuity contracts are reimbursed through a ceding commission by CMFG Life, which assumes all deferrable costs as part of its agreement to assume 100% of this business from the Company. See Note 7, Reinsurance for additional information on this agreement.

Summary of Significant Accoun29

Summary of Significant Accounting Policies: Insurance Reserves (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Insurance Reserves	Insurance Reserves Life and health claim and policy benefit reserves consist principally of future policy benefit reserves and reserves for estimates of future payments on incurred claims reported but not yet paid and unreported incurred claims. Estimates for future payments on incurred claims are developed using actuarial principles and assumptions based on past experience adjusted for current trends. Any change in the probable ultimate liabilities is reflected in net income in the period in which the change is determined. When actual experience indicates that existing contract liabilities, together with the present value of future gross premiums will not be sufficient to recover the present value of future benefits or recover unamortized deferred acquisition costs, a premium deficiency will be recognized by either a reduction in unamortized acquisition costs or an increase in the liability for future benefits. There was no premium deficiency in 2015, 2014 or 2013.

Summary of Significant Accoun30

Summary of Significant Accounting Policies: Policyholder Account Balances (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Policyholder Account Balances	Policyholder Account Balances The Company recognizes a liability at the stated account value for policyholder deposits that are not subject to significant policyholder mortality or longevity risk and for universal life-type policies. The account value equals the sum of the original deposit and accumulated interest, less any withdrawals and expense charges. The average credited rate was 4.5% in 2015, 2014 and 2013. The future minimum guaranteed interest rate during the life of the contracts is 4.5%. The single premium deferred annuities, which are included in policyholder account balances, have two risk control accounts, referred to as the Secure and Growth Accounts; the Secure Account has a yearly credited interest rate floor of 0% and the yearly Growth Account floor is -10%. The Secure and Growth Accounts both have credited interest rate caps that vary with issuance. Interest is credited at the end of each contract year during the selected index term based on the allocation between risk control accounts and the performance of an external index during that contract year. Both the Growth Account and Secure Account are based on the S&P 500 Index. At the end of the initial index term, only the Secure Account will be available as an option to the policyholder. The average annualized credited rate was 1.65%, 1.10% and .72% in 2015, 2014 and 2013, respectively.

Summary of Significant Accoun31

Summary of Significant Accounting Policies: Accounts Payable and Other Liabilities (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Accounts Payable and Other Liabilities	Accounts Payable and Other Liabilities The Company issues annuity contracts on the 10 th th

Summary of Significant Accoun32

Summary of Significant Accounting Policies: Reinsurance (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Reinsurance	Reinsurance Reinsurance premiums, claims and benefits, commission expense reimbursements, and reserves related to reinsured business ceded are accounted for on a basis consistent with the accounting for the underlying direct policies that have been ceded and the terms of the reinsurance contracts. Premiums and insurance claims and benefits in the statements of operations and comprehensive income (loss) are reported net of the amounts ceded to other companies under such reinsurance contracts. Ceded insurance reserves and ceded benefits paid are included in reinsurance recoverables along with certain ceded policyholder account balances, which include mortality risk. A prepaid reinsurance asset is also recorded for the portion of unearned premiums related to ceded policies.

Summary of Significant Accoun33

Summary of Significant Accounting Policies: Assets On Deposit (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Assets On Deposit	Assets on Deposit Assets on deposit represent the amount of policyholder account balances related to the single premium deferred annuity contracts (investment-type contracts) that are ceded to CMFG Life. These investment-type contracts are accounted for on a basis consistent with the accounting for the underlying contracts. Since the related product is an investment-type contract, the Company accounts for the reinsurance of these contracts using the deposit method of accounting consistent with the terms of the ceding agreement. The related contract charges and interest credited to policyholder account balances in the statements of operations and comprehensive income (loss) are reported net of the amounts ceded under the agreement. See Note 7 for a further discussion of the ceding agreement.

Summary of Significant Accoun34

Summary of Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Income Taxes	Income Taxes The Company recognizes taxes payable or refundable and deferred taxes for the tax consequences of differences between the financial reporting and tax basis of assets and liabilities. Deferred tax assets and liabilities are measured by applying the enacted tax rates to the difference between the financial statement and tax basis of assets and liabilities. The Company records current tax benefits and deferred tax assets utilizing a benefits-for-loss approach. Under this approach, current benefits are realized and deferred tax assets are considered realizable by the Company when realized or realizable by the consolidated group of which the Company is a member even if the benefits would not be realized on a stand-alone basis. The Company records a valuation allowance for deferred tax assets if it determines it is more likely than not that the asset will not be realized by the consolidated group. Deferred income tax assets can be realized through future earnings, including, but not limited to, the generation of future income, reversal of existing temporary differences and available tax planning strategies. The Company is subject to tax-related audits. These audits may result in additional tax assets or liabilities. In establishing tax liabilities, the Company determines whether a tax position is more likely than not to be sustained under examination by the appropriate taxing authority. Tax positions that do not meet the more likely than not standard are not recognized. Tax positions that meet this standard are recognized in the financial statements within net deferred tax assets or liabilities or federal income taxes recoverable or payable.

Summary of Significant Accoun35

Summary of Significant Accounting Policies: Accounting Standards Updates Pending Adoption (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Accounting Standards Updates Pending Adoption	Accounting Standards Updates Pending Adoption In May 2014, the Financial Accounting Standards Board (“FASB”) issued a comprehensive new revenue recognition standard, Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers . In January 2016, the FASB issued Accounting Standard Update (ASU) No. 2016-01 , Recognition and Measurement of Financial Assets and Liabilities

Nature of Business_ Schedule of

Nature of Business: Schedule of states with premiums greater than 5% of total direct premium and with deposits on annuity contracts greater than 5% of total deposits (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of states with premiums greater than 5% of total direct premium and with deposits on annuity contracts greater than 5% of total deposits	Deposits on Direct Life and Health Premium Annuity Contracts 2015 2014 2013 2015 2014 2013 Michigan 63% 63% 64% 8% 12% 11% Texas 23% 22% 22% 7% 8% -- California 5% 5% 5% 8% -- -- Indiana -- -- -- 6% 6% 6% Iowa -- -- -- 5% 8% 17% Wisconsin -- -- -- 5% 7% 7% Pennsylvania -- -- -- 5% 6% 5% Florida -- -- -- 5% 5% -- Washington -- -- -- 5% -- -- Rhode Island -- -- -- -- 8% 6% Utah -- -- -- -- -- 5%

Investments_ Investments in Deb

Investments: Investments in Debt Securities (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Investments in Debt Securities	Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value U.S. government and agencies $10,333 $26 $(546) $9,813 Mortgage-backed securities: Residential mortgage-backed 2,365 173 - 2,538 Total debt securities $12,698 $199 $(546) $12,351 The amortized cost, gross unrealized gains and losses, and estimated fair values, as reported on the balance sheet, of debt securities at December 31, 2014 are as follows: Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value U.S. government and agencies $9,888 $103 $(4) $9,987 Mortgage-backed securities: Residential mortgage-backed 2,966 241 - 3,207 Total debt securities $12,854 $344 $(4) $13,194

Investments_ Investments Classi

Investments: Investments Classified by Contractual Maturity Date (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Investments Classified by Contractual Maturity Date	Amortized Estimated Cost Fair Value Due in one year or less $ 1,261 $ 1,280 Due after one year through five years 315 322 Due after ten years 8,757 8,211 Mortgage-backed securities: Residential mortgage-backed 2,365 2,538 Total debt securities $ 12,698 $ 12,351

Investments_ Investment Income

Investments: Investment Income (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Investment Income	2015 2014 2013 Gross investment income: Debt securities $389 $304 $275 Policy loans 5 8 8 Other investments - - 6 Total gross investment income 394 312 289 Investment expenses (28) (34) (113) Net investment income $366 $278 $176

Investments_ Realized Gain (Los

Investments: Realized Gain (Loss) on Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Realized Gain (Loss) on Investments	2015 2014 2013 Debt securities Gross gains on sales $117 $- $- Net realized investment gains $117 $- $-

Investments_ Unrealized Gain (L

Investments: Unrealized Gain (Loss) on Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Unrealized Gain (Loss) on Investments	2015 2014 2013 Debt securities $(347) $340 $412 Deferred income taxes 122 (118) (143) Net unrealized investment gains (losses) $(225) $222 $269

Fair Value_ Fair Value Assets m

Fair Value: Fair Value Assets measured on a Recurring Basis (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Fair Value Assets measured on a Recurring Basis	Assets, at Fair Value Level 1 Level 2 Level 3 Total Cash equivalents 1 $ 16,080 $ - $ - $ 16,080 Debt securities: U.S. government and agencies - 9,813 - 9,813 Mortgage-backed securities: Residential mortgage-backed - 2,538 - 2,538 Total debt securities - 12,351 - 12,351 Derivatives embedded in assets on deposit - - 122,043 122,043 Total assets $ 16,080 $ 12,351 $ 122,043 $ 150,474 Liabilities, at Fair Value Level 1 Level 2 Level 3 Total Derivatives embedded in annuity contracts $ - $ - $ 122,043 $ 122,043 Total liabilities $ - $ - $ 122,043 $ 122,043 1 The following table summarizes the Company’s assets that are measured at fair value on a recurring basis as of December 31, 2014. Assets, at Fair Value Level 1 Level 2 Level 3 Total Cash equivalents 1 $3,681 $- $- $3,681 Debt securities: U.S. government and agencies - 9,987 - 9,987 Mortgage-backed securities: Residential mortgage-backed - 3,207 - 3,207 Total debt securities - 13,194 - 13,194 Derivatives embedded in assets on deposit - - 45,503 45,503 Total assets $3,681 $13,194 $45,503 $62,378 Liabilities, at Fair Value Level 1 Level 2 Level 3 Total Derivatives embedded in annuity contracts $ - $ - $ 45,503 $ 45,503 Total liabilities $ - $ - $ 45,503 $ 45,503 1

Fair Value_ Schedule of changes

Fair Value: Schedule of changes in assets and liabilities classified as Level 3 (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of changes in assets and liabilities classified as Level 3	Total Realized/Unrealized Gain (Loss) Included in: Balance Balance January 1, December 31, 2015 Purchases Maturities Earnings 1 2015 Derivatives embedded in assets on deposit $45,503 $73,631 $(682) $3,591 $122,043 Total assets $45,503 $73,631 $(682) $3,591 $122,043 Derivatives embedded in annuity contracts $45,503 $73,631 $(682) $3,591 $122,043 Total liabilities $45,503 $73,631 $(682) $3,591 $122,043 1 The following table sets forth the values of assets and liabilities classified as Level 3 within the fair value hierarchy at December 31, 2014. Total Realized/Unrealized Gain (Loss) Included in: Balance Balance January 1, December 31, 2014 Purchases Maturities Earnings 1 2014 Derivatives embedded in assets on deposit $ 8,652 $ 27,522 $ (252) $ 9,581 $ 45,503 Total assets $ 8,652 $ 27,522 $ (252) $ 9,581 $ 45,503 Derivatives embedded in annuity contracts $ 8,652 $ 27,522 $ (252) $ 9,581 $ 45,503 Total liabilities $8,652 $ 27,522 $ (252) $ 9,581 $ 45,503 1

Fair Value_ Schedule of Signifi

Fair Value: Schedule of Significant unobservable inputs used in Level 3 embedded derivative assets and liabilities measured at fair value (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Significant unobservable inputs used in Level 3 embedded derivative assets and liabilities measured at fair value	Predominant Valuation Significant Range of Values - Unobservable Input Method Unobservable Input 2015 2014 Derivatives embedded in single premium deferred annuities and related assets on deposit Discounted cash flow Lapse rates 2% to 4% with an excess lapse rate at the end of the index period of 95%. 2% to 4% with an excess lapse rate at the end of the index period of 95%. Company's own credit and risk margin 82 - 137 basis points added on to discount rate 60 - 90 basis points added on to discount rate

Fair Value_ Carrying amounts an

Fair Value: Carrying amounts and estimated fair values of the Company's financial instruments which are not measured at fair value on a recurring basis (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Carrying amounts and estimated fair values of the Company's financial instruments which are not measured at fair value on a recurring basis	2015 2014 Carrying Estimated Carrying Estimated Amount Fair Value Level Amount Fair Value Level Financial instruments recorded as assets: Cash $ 1,013 $ 1,013 1 $ 1,921 $ 1,921 1 Policy loans - n/a n/a 104 n/a n/a Assets on deposit 825,552 699,721 2 304,434 294,710 2 Financial instruments recorded as liabilities: Investment-type contracts 825,552 699,721 2 304,434 294,710 2

Income Tax_ Schedule of Compone

Income Tax: Schedule of Components of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	2015 2014 2013 Current tax expense (benefit) $ 1,451 $ (186) $ (426) Deferred tax expense (benefit) (2) 197 675 Total income tax expense $ 1,449 $ 11 $ 249

Income Tax_ Schedule of Effecti

Income Tax: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	2015 2014 2013 Amount Rate Amount Rate Amount Rate Tax expense computed at federal corporate tax rate $1,480 35.0% $60 35.0% $133 35.0% Income tax expense (benefit) related to prior years (31) (0.7) (41) (23.9) 116 30.5 Other - - (8) (4.7) - - Total income tax expense $1,449 34.3% $11 6.4% $249 65.5%

Income Tax_ Schedule of Deferre

Income Tax: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	2015 2014 Deferred tax assets Policy liabilities and reserves $36 $81 Unrealized investment losses 122 - Investments 168 276 Accrued expenses 94 26 Deferred policy acquisition costs 309 230 Other 1 3 Gross deferred tax assets 730 616 Deferred tax liabilities Unrealized investment gains - 118 Deferred reinsurance expense 47 56 Other 1 2 Gross deferred tax liabilities 48 176 Net deferred tax asset $682 $440

Income Tax_ Schedule of Unrecog

Income Tax: Schedule of Unrecognized Tax Benefits Roll Forward (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Unrecognized Tax Benefits Roll Forward	2015 2014 Balance at January 1 $ 1 $ 7 Reductions for prior years' tax positions 0 (6) Balance at December 31 $ 1 $ 1

Related Party Transactions_ Sch

Related Party Transactions: Schedule of Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Related Party Transactions	2015 2014 Receivable from: CMFG Life $ 4,518 $ 2,765 Total $ 4,518 $ 2,765 Payable to: CUNA Brokerage Services, Inc. $ 2,478 $ 1,290 MEMBERS Capital Advisors, Inc. 2 2 Total $ 2,480 $ 1,292

Reinsurance_ Effects of Reinsur

Reinsurance: Effects of Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Effects of Reinsurance	2015 2014 2013 Face amount of policies in force $110,827 $123,223 $147,371 Premiums: Direct - written $2,384 $2,613 $2,811 Direct - change in unearned - - - Direct - earned 2,384 2,613 2,811 Ceded to affiliate - written (3,559) (2,482) (2,671) Ceded to affiliate - change in unearned - (4) (1) Ceded to affiliate - earned (3,559) (2,486) (2,672) Premiums - written, net (1,175) 131 140 Premiums - change in unearned, net - (4) (1) Premiums, net $(1,175) $127 $139 Contract charges: Direct $742 $472 $461 Ceded to affiliate (724) (448) (415) Contract charges, net $18 $24 $46 Claims, benefits and losses incurred: Direct $1,784 $1,883 $2,953 Ceded to affiliate (2,988) (1,771) (2,774) Claims, benefits and losses, net $(1,204) $112 $179 Interest credited to policyholder account balances: Direct $9,833 $2,457 $320 Ceded to affiliate (9,829) (2,449) (311) Interest credited to policyholder account balances, net $4 $8 $9

Statutory Financial Data and 52

Statutory Financial Data and Dividend Restrictions: Schedule of certain statutory basis financial information (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of certain statutory basis financial information	Statutory Basis Statutory Basis Capital and Surplus Net Income (Loss) 2015 2014 2015 2014 2013 MLIC $ 21,111 $ 18,366 $ 1,112 $ (1,792) $ (1,562)

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Income: Schedule of Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Unrealized Other Investment Comprehensive Gains (Loss) Income (Loss) Balance, January 1, 2013 $ 423 $ 423 Change in unrealized holding gains (losses),net of tax - ($105) (154) (154) Balance, December 31, 2013 269 269 Change in unrealized holding gains (losses), net of tax - ($25) (47) (47) Balance, December 31, 2014 222 222 Change in unrealized holding gains (losses), net of tax - ($240) (447) (447) Balance, December 31, 2015 $ (225) $ (225)

Accumulated Other Comprehensi54

Accumulated Other Comprehensive Income: Reclassification out of Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Reclassification out of Accumulated Other Comprehensive Income	2015 2014 2013 Reclassifications from accumulated other comprehensive income (losses) Unrealized gains on available-for-sale securities included in net realized investment losses $ 15 $ - $ - Total reclassifications from accumulated other comprehensive income (losses) 15 - - Tax expense 5 - - Net reclassification from accumulated other comprehensive income (losses) $ 10 $ - $ -

Business Segment Information_ S

Business Segment Information: Schedule of Segment Reporting Information, by Segment (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Segment Reporting Information, by Segment	Year ended or as of December 31, 2015 Life and Health Annuities Total Revenues Life and health premiums, net $ (1,175) $ - $ (1,175) Contract charges 18 - 18 Net investment income 366 - 366 Net realized investment gains 117 - 117 Other income 5,336 - 5,336 Total revenues 4,662 - 4,662 Benefits and expenses Life and health insurance claims and benefits, net (1,204) - (1,204) Interest credited to policyholder account balances 4 - 4 Operating and other expenses 1,633 - 1,633 Total benefits and expenses 433 - 433 Income before income taxes 4,229 - 4,229 Income tax expense 1,449 - 1,449 Net income 2,780 - 2,780 Change in unrealized (losses), net of tax (benefit) (447) - (447) Other comprehensive (loss) (447) - (447) Total comprehensive income $ 2,333 $ - $ 2,333 Reinsurance recoverable from affiliate $ 24,628 $ - $ 24,628 Assets on deposit - 947,595 947,595 Claim and policy benefit reserves - life and health 21,077 460 21,537 Policyholder account balances 3,473 947,595 951,068 The following table sets forth financial information regarding the Company’s two reportable business segments for the year ended December 31, 2014. Year ended or as of December 31, 2014 Life and Health Annuities Total Revenues Life and health premiums, net $ 127 $ 127 Contract charges 24 - 24 Net investment income 278 - 278 Net realized investment gains - - - Other income - - - Total revenues 429 - 429 Benefits and expenses Life and health insurance claims and benefits, net 112 - 112 Interest credited to policyholder account balances 8 - 8 Operating and other expenses 137 - 137 Total benefits and expenses 257 - 257 Income before income taxes 172 - 172 Income tax expense 11 - 11 Net income 161 - 161 Change in unrealized (losses), net of tax (benefit) (47) - (47) Other comprehensive (loss) (47) - (47) Total comprehensive (loss) $ 114 $ - $ 114 Reinsurance recoverable from affiliate $ 25,199 $ - $ 25,199 Assets on deposit - 349,937 349,937 Claim and policy benefit reserves - life and health 22,035 333 22,368 Policyholder account balances 3,612 349,937 353,549 The following table sets forth financial information regarding the Company’s two reportable business segments for the year ended December 31, 2013. Year ended or as of December 31, 2013 Life and Health Annuities Total Revenues Life and health premiums, net $ 139 $ - $ 139 Contract charges 46 - 46 Net investment income 176 - 176 Net realized investment gains - - - Other income 293 - 293 Total revenues 654 - 654 Benefits and expenses Life and health insurance claims and benefits, net 179 - 179 Interest credited to policyholder account balances 9 - 9 Operating and other expenses 86 - 86 Total benefits and expenses 274 - 274 Income before income taxes 380 - 380 Income tax expense 249 - 249 Net income 131 - 131 Change in unrealized (losses), net of tax (benefit) (154) - (154) Other comprehensive (loss) (154) - (154) Total comprehensive (loss) $ (23) $ - $ (23) Reinsurance recoverable from affiliate $ 25,525 $ - $ 25,525 Assets on deposit - 89,313 89,313 Claim and policy benefit reserves - life and health 23,196 - 23,196 Policyholder account balances 3,734 89,313 93,047

Nature of Business_ Schedule 56

Nature of Business: Schedule of states with premiums greater than 5% of total direct premium and with deposits on annuity contracts greater than 5% of total deposits (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Direct Life and Health Premiums greater than 5% of total direct premiums	2015.00%	2014.00%	2013.00%
Deposits on Annuity Contracts greater than 5% of total deposits	2015.00%	2014.00%	2013.00%
MICHIGAN
Direct Life and Health Premiums greater than 5% of total direct premiums	63.00%	63.00%	64.00%
Deposits on Annuity Contracts greater than 5% of total deposits	8.00%	12.00%	11.00%
TEXAS
Direct Life and Health Premiums greater than 5% of total direct premiums	23.00%	22.00%	22.00%
Deposits on Annuity Contracts greater than 5% of total deposits	7.00%	8.00%
CALIFORNIA
Direct Life and Health Premiums greater than 5% of total direct premiums	5.00%	5.00%	5.00%
Deposits on Annuity Contracts greater than 5% of total deposits	8.00%
INDIANA
Deposits on Annuity Contracts greater than 5% of total deposits	6.00%	6.00%	6.00%
IOWA
Deposits on Annuity Contracts greater than 5% of total deposits	5.00%	8.00%	17.00%
WISCONSIN
Deposits on Annuity Contracts greater than 5% of total deposits	5.00%	7.00%	7.00%
PENNSYLVANIA
Deposits on Annuity Contracts greater than 5% of total deposits	5.00%	6.00%	5.00%
FLORIDA
Deposits on Annuity Contracts greater than 5% of total deposits	5.00%	5.00%
WASHINGTON
Deposits on Annuity Contracts greater than 5% of total deposits	5.00%
RHODE ISLAND
Deposits on Annuity Contracts greater than 5% of total deposits		8.00%	6.00%
UTAH
Deposits on Annuity Contracts greater than 5% of total deposits			5.00%

Summary of Significant Accoun57

Summary of Significant Accounting Policies: Policyholder Account Balances (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Average credited interest rate	4.50%	4.50%	4.50%
Future minimum guaranteed interest rate	4.50%

Investments_ Investments in D58

Investments: Investments in Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2015		Dec. 31, 2014
Amortized cost of debt securities available for sale	$ 12,698		$ 12,854
Debt securities, available for sale, at fair value	12,351	[1]	13,194	[2]
US Government Agencies Debt Securities
Amortized cost of debt securities available for sale	10,333		9,888
Available-for-sale Debt Securities Gross Unrealized Gain	26		103
Available-for-sale Debt Securities, Gross Unrealized Loss	(546)		(4)
Debt securities, available for sale, at fair value	9,813		9,987
Residential Mortgage Backed Securities
Amortized cost of debt securities available for sale	2,365		2,966
Available-for-sale Debt Securities Gross Unrealized Gain	173		241
Debt securities, available for sale, at fair value	2,538		3,207
Debt Securities
Amortized cost of debt securities available for sale	12,698		12,854
Available-for-sale Debt Securities Gross Unrealized Gain	199		344
Available-for-sale Debt Securities, Gross Unrealized Loss	(546)		(4)
Debt securities, available for sale, at fair value	$ 12,351		$ 13,194
[1]	Amortized cost - $12,698
[2]	Amortized cost - $12,854

Investments_ Investments Clas59

Investments: Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Dec. 31, 2015		Dec. 31, 2014
Amortized cost of debt securities available for sale	$ 12,698		$ 12,854
Debt securities, available for sale, at fair value	12,351	[1]	13,194	[2]
Residential Mortgage Backed Securities
Amortized cost of debt securities available for sale	2,365		2,966
Debt securities, available for sale, at fair value	2,538		3,207
Debt Securities
Amortized cost of debt securities available for sale	12,698		12,854
Debt securities, available for sale, at fair value	12,351		$ 13,194
Due in one year or less
Amortized cost of debt securities available for sale	1,261
Debt securities, available for sale, at fair value	1,280
Due after one year through five years
Amortized cost of debt securities available for sale	315
Debt securities, available for sale, at fair value	322
Due after ten years
Amortized cost of debt securities available for sale	8,757
Debt securities, available for sale, at fair value	$ 8,211
[1]	Amortized cost - $12,698
[2]	Amortized cost - $12,854

Investments_ Investment Incom60

Investments: Investment Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Gross Investment Income, Operating	$ 394	$ 312	$ 289
Investment Income, Investment Expense	(28)	(34)	(113)
Net Investment Income	366	278	176
Debt Securities
Gross Investment Income, Operating	389	304	275
Policy loans
Gross Investment Income, Operating	$ 5	$ 8	8
Other investments
Gross Investment Income, Operating			$ 6

Investments_ Realized Gain (L61

Investments: Realized Gain (Loss) on Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Details
Debt Securities, Gross gains on sales	$ 117
Debt Securities, Net realized investment gains	$ 117

Investments (Details)

Investments (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Proceeds from sale of debt securities				$ 8,389	$ 0	$ 0
Fair value of debt security in unrealized loss position	$ 8,210			8,210
Gross unrealized losses	546	$ 4	$ 0
Embedded Derivatives, Assets	122,043	45,503		122,043	45,503
Embedded Derivatives, Liabilities	122,043	45,503		122,043	45,503
Embedded Derivatives, Increase (Decrease) in fair value				3,591	9,581	$ 592
Securities on deposit with regulatory jurisdictions	$ 1,732	$ 1,854		$ 1,732	$ 1,854

Investments_ Unrealized Gain 63

Investments: Unrealized Gain (Loss) on Investments (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net unrealized investment gains included in AOCI	$ (225)	$ 222	$ 269
Debt Securities
Net unrealized investment gains included in AOCI	(347)	340	412
DeferredIncomeTaxesMember
Net unrealized investment gains included in AOCI	$ 122	$ (118)	$ (143)

Fair Value_ Fair Value Assets64

Fair Value: Fair Value Assets measured on a Recurring Basis (Details) - USD ($)	Dec. 31, 2015		Dec. 31, 2014
Assets, Fair Value Disclosure	$ 150,474		$ 62,378
Cash and Cash Equivalents
Assets, Fair Value Disclosure	16,080	[1]	3,681	[2]
US Government Agencies Debt Securities
Assets, Fair Value Disclosure	9,813		9,987
Residential Mortgage Backed Securities
Assets, Fair Value Disclosure	2,538		3,207
Debt Securities
Assets, Fair Value Disclosure	12,351		13,194
Derivative
Assets, Fair Value Disclosure	122,043		45,503
Fair Value, Inputs, Level 1
Assets, Fair Value Disclosure	16,080		3,681
Fair Value, Inputs, Level 1 | Cash and Cash Equivalents
Assets, Fair Value Disclosure	16,080	[1]	3,681	[2]
Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure	12,351		13,194
Fair Value, Inputs, Level 2 | US Government Agencies Debt Securities
Assets, Fair Value Disclosure	9,813		9,987
Fair Value, Inputs, Level 2 | Residential Mortgage Backed Securities
Assets, Fair Value Disclosure	2,538		3,207
Fair Value, Inputs, Level 2 | Debt Securities
Assets, Fair Value Disclosure	12,351		13,194
Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure	122,043		45,503
Fair Value, Inputs, Level 3 | Derivative
Assets, Fair Value Disclosure	$ 122,043		$ 45,503
[1]	Excludes cash of $1,013 that is not subject to fair value accounting.
[2]	Excludes cash of $769 that is not subject to fair value accounting.

Fair Value_ Schedule of chang65

Fair Value: Schedule of changes in assets and liabilities classified as Level 3 (Details) - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Assets classified as level 3		$ 45,503	$ 8,652
Assets classified as level 3, Purchases		73,631	27,522
Assets classified as level 3, Maturities		(682)	(252)
Assets classified as level 3, Earnings	[1]	3,591	9,581
Assets classified as level 3		122,043	45,503
Liabilities classified as level 3		45,503	8,652
Liabilities classified as level 3, Purchases		73,631	27,522
Liabilities classified as level 3, Earnings	[1]	3,591	9,581
Liabilities classified as level 3		122,043	45,503
Derivative
Assets classified as level 3		45,503	8,652
Assets classified as level 3, Purchases		73,631	27,522
Assets classified as level 3, Maturities		(682)	(252)
Assets classified as level 3, Earnings	[1]	3,591	9,581
Assets classified as level 3			45,503
Liabilities classified as level 3		45,503	8,652
Liabilities classified as level 3, Purchases		73,631	27,522
Liabilities classified as level 3, Earnings	[1]	3,591	9,581
Liabilities classified as level 3		$ 122,043	$ 45,503
[1]	Included in earnings is realized gains and losses on embedded derivatives.

Fair Value_ Carrying amounts 66

Fair Value: Carrying amounts and estimated fair values of the Company's financial instruments which are not measured at fair value on a recurring basis (Details)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Investment Contracts
Financial instruments recorded as assets, Carrying Amount	$ 825,552	$ 304,434
Financial instruments recorded as assets, Estimated Fair Value	$ 699,721	$ 294,710
Financial instruments recorded as assets, Level	2	2
Cash
Financial instruments recorded as assets, Carrying Amount	$ 1,013	$ 1,921
Financial instruments recorded as assets, Estimated Fair Value	$ 1,013	$ 1,921
Financial instruments recorded as assets, Level	1	1
Policy loans
Financial instruments recorded as assets, Carrying Amount		$ 104
Financial instruments recorded as assets, Estimated Fair Value
Financial instruments recorded as assets, Level
Assets on deposit
Financial instruments recorded as assets, Carrying Amount	$ 825,552	$ 304,434
Financial instruments recorded as assets, Estimated Fair Value	$ 699,721	$ 294,710
Financial instruments recorded as assets, Level	2	2

Income Tax_ Schedule of Compo67

Income Tax: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Current Income Tax Expense (Benefit)	$ 1,451	$ (186)	$ (426)
Deferred Income Tax Expense (Benefit)	(2)	197	675
Income tax expense (benefit)	$ 1,449	$ 11	$ 249

Income Tax_ Schedule of Effec68

Income Tax: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 1,480	$ 60	$ 133
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%	35.00%
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount	$ (31)	$ (41)	$ 116
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent	(0.70%)	(23.90%)	30.50%
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount		$ (8)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent		(4.70%)
Total Income Tax Expense (Benefit)	$ 1,449	$ 11	$ 249
Effective Income Tax Rate Reconciliation, Percent	34.30%	6.40%	65.50%

Income Tax_ Schedule of Defer69

Income Tax: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax Assets, Gross
Deferred Tax Assets, Policy Liabilities and Reserves	$ 36	$ 81
Deferred Tax Assets, Unrealized Losses on Available-for-Sale Securities, Gross	122
Deferred Tax Assets, Investments	168	276
Deferred Tax Assets, Tax Deferred Expense	94	26
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Policyholder Liabilities	309	230
Deferred Tax Assets, Other	1	3
Deferred Tax Assets, Gross	730	616
Deferred Tax Liabilities, Gross
Deferred Tax Liabilities, Unrealized Gains on Trading Securities		118
Deferred Tax Liabilities, Deferred Insurance Expense	47	56
Deferred Tax Liabilities, Other	1	2
Deferred Tax Liabilities, Gross	48	176
Net deferred tax asset	$ 682	$ 440

Income Tax_ Schedule of Unrec70

Income Tax: Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Unrecognized Tax Benefits, Beginning Balance	$ 1	$ 7
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	0	(6)
Unrecognized Tax Benefits, Ending Balance	$ 1	$ 1

Income Tax (Details)

Income Tax (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Accruals for payment of interest and penalties	$ 7	$ 7
Deferred Tax Assets, Capital Loss Carryforwards	0	0
Operating Loss Carryforwards	0	0
Tax Credit Carryforward, Amount	$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Shared Expenses remibursed	$ 8,447	$ 5,641	$ 2,492

Related Party Transactions_ S73

Related Party Transactions: Schedule of Related Party Transactions (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Due from Related Parties, Current	$ 4,518	$ 2,765
Due to Related Parties, Current	2,480	1,292
CMFG Life Insurance Company
Due from Related Parties, Current	4,518	2,765
CUNA Brokerage Services, Inc
Due to Related Parties, Current	2,478	1,290
MEMBERS Capital Advisors, Inc.
Due to Related Parties, Current	$ 2	$ 2

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Ceded Premiums Earned	$ 1,297	$ (3,559)	$ (2,486)	$ (2,672)
Policyholder Benefits and Claims Incurred, Ceded	$ 1,244	$ (2,988)	$ (1,771)	$ (2,774)

Reinsurance_ Effects of Reins75

Reinsurance: Effects of Reinsurance (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Face amount of policies in force		$ 110,827	$ 123,223	$ 147,371
Premiums Written and Earned
Direct Premiums Written		2,384	2,613	2,811
Direct Premiums Earned		2,384	2,613	2,811
Ceded Premiums Written		(3,559)	(2,482)	(2,671)
Ceded Premiums Unearned			(4)	(1)
Ceded Premiums Earned	$ 1,297	(3,559)	(2,486)	(2,672)
Premiums written, net		(1,175)	131	140
Change in unearned premiums, net			(4)	(1)
Premiums, Net		(1,175)	127	139
Contract revenue direct		742	472	461
Contract revenue ceded to affiliate		(724)	(448)	(415)
Contract charges		18	24	46
Policyholder Benefits and Claims Incurred, Net
Policyholder Benefits and Claims Incurred, Direct		1,784	1,883	2,953
Policyholder Benefits and Claims Incurred, Ceded	$ 1,244	(2,988)	(1,771)	(2,774)
Policyholder Benefits and Claims Incurred, Net		(1,204)	112	179
Interest credited to policyholder account balances ceded to affiliate		9,833	2,457	320
Interest credited to policyholder account balances, ceded to affiliate		(9,829)	(2,449)	(311)
Interest credited to policyholder account balances		$ 4	$ 8	$ 9

Statutory Financial Data and 76

Statutory Financial Data and Dividend Restrictions: Schedule of certain statutory basis financial information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 21,111	$ 18,366
Statutory Accounting Practices, Statutory Net Income Amount	$ 1,112	$ (1,792)	$ (1,562)

Accumulated Other Comprehensi77

Accumulated Other Comprehensive Income: Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Details
Unrealized Investment Gain (Loss), Balance	$ 222		$ 269		$ 423
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance	222	[1]	269		423
Unrealized Gain (Loss) on Investments	(447)	[2]	(47)	[3]	(154)	[4]
Change in unrealized holding gains	(447)	[2]	(47)	[3]	(154)	[4]
Unrealized Investment Gain (Loss), Balance	(225)		222		269
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance	$ (225)	[5]	$ 222	[1]	$ 269
[1]	Accumulated other comprehensive income, net of tax expense - $118
[2]	Change in unrealized holding gains, net of tax - ($240)
[3]	Change in unrealized holding gains, net of tax - ($25)
[4]	Change in unrealized holding gains, net of tax - ($105)
[5]	Accumulated other comprehensive income, net of tax benefit - $(122)

Accumulated Other Comprehensi78

Accumulated Other Comprehensive Income: Reclassification out of Accumulated Other Comprehensive Income (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Details
Accumulated Other Comprehensive Income Reclassification for unrealized net gains on available-for-sale securities	$ 15
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	15
Reclassifications from accumulated other comprehensive income, tax expense (benefit)	5
Reclassification adjustment for (gains) included in net income, net of tax expense (benefit)	$ 10	[1]
[1]	Net of tax (benefit) - ($5).

Business Segment Information_79

Business Segment Information: Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Life and health premiums, net		$ (1,175)	$ 127	$ 139
Contract charges		18	24	46
Net investment income		366	278	176
Debt Securities, Net realized investment gains		117
Other Income		5,336		293
Total revenues		4,662	429	654
Benefits and expenses
Life and health insurance claims and benefits, net		(1,204)	112	179
Interest credited to policyholder account balances		4	8	9
Operating and other expenses	[1]	1,633	137	86
Total benefits and expenses		433	257	274
Income (loss) before income taxes		4,229	172	380
Income tax expense (benefit)		1,449	11	249
Net Income (Loss)		2,780	161	131
Change in unrealized gains (losses), net of tax (benefit)		(447)	(47)	(154)
Other Comprehensive Income (Loss)		(447)	(47)	(154)
Total Comprehensive Income (Loss)		2,333	114	(23)
Reinsurance recoverable from affiliate		24,628	25,199	25,525
Assets on deposit		947,595	349,937	89,313
Claim and policy benefit reserves - life and health		21,537	22,368	23,196
Policyholder account balances		951,068	353,549	93,047
Life and Health
Revenues
Life and health premiums, net		(1,175)	127	139
Contract charges		18	24	46
Net investment income		366	278	176
Debt Securities, Net realized investment gains		117
Other Income		5,336		293
Total revenues		4,662	429	654
Benefits and expenses
Life and health insurance claims and benefits, net		(1,204)	112	179
Interest credited to policyholder account balances		4	8	9
Operating and other expenses		1,633	137	86
Total benefits and expenses		433	257	274
Income (loss) before income taxes		4,229	172	380
Income tax expense (benefit)		1,449	11	249
Net Income (Loss)		2,780	161	131
Change in unrealized gains (losses), net of tax (benefit)		(447)	(47)	(154)
Other Comprehensive Income (Loss)		(447)	(47)	(154)
Total Comprehensive Income (Loss)		2,333	114	(23)
Reinsurance recoverable from affiliate		24,628	25,199	25,525
Claim and policy benefit reserves - life and health		21,077	22,035	23,196
Policyholder account balances		3,473	3,612	3,734
Annuities
Benefits and expenses
Assets on deposit		947,595	349,937	89,313
Claim and policy benefit reserves - life and health		460	333
Policyholder account balances		$ 947,595	$ 349,937	$ 89,313
[1]	Note 6