MEMBERS Life Insurance POS AM 31 Mar 17 2016 FY Prospectus update (post-effective amendment) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2016
Details
Registrant Name	MEMBERS Life Insurance Co
Registrant CIK	1,562,577
SEC Form	S1
Period End date	Dec. 31, 2016
Fiscal Year End	--12-31
Trading Symbol	mlic
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

Balance Sheets

Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Investments
Debt securities, available for sale, at fair value		$ 10,539	$ 12,351
Total investments		10,539	12,351
Cash and cash equivalents		18,732	17,093
Accrued investment income		116	134
Reinsurance recoverable from affiliate		23,687	24,628
Assets on deposit		1,619,113	947,595
Premiums receivable, net		15	26
Net deferred tax asset		495	682
Receivable from affiliate		11,460	4,518
Other assets and receivables		415	268
Federal income taxes recoverable from affiliate		1,637	516
Separate Account Assets		20,221
Total assets		1,706,430	1,007,811
Liabilities
Claim and policy benefit reserves - life and health		21,506	21,537
Policyholder account balances		1,622,448	951,068
Unearned premiums			1
Payables to affiliates		6,196	2,480
Accounts payable and other liabilities		12,774	11,177
Separate account liabilities		20,221
Total liabilities		1,683,145	986,263
Stockholder's equity
Common stock		5,000	5,000
Additional paid in capital		10,500	10,500
Accumulated Other Comprehensive Income, net of tax		(323)	(225)
Retained earnings (deficit)		8,108	6,273
Total stockholder's equity		23,285	21,548
Commitments and contingencies	[1]
Total liabilities and stockholder's equity		$ 1,706,430	$ 1,007,811
[1]	See Note 11.

Balance Sheets - Parenthetical

Balance Sheets - Parenthetical - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Details
Available-for-sale Debt Securities, Amortized Cost Basis	$ 11,037	$ 12,698
Common Stock, Par or Stated Value Per Share	$ 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
Tax expense (benefit) in Accumulated Other Comprehensive Income	$ (175)	$ (122)

Statements of Operations and Co

Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Life and health premiums, net	$ (21)	$ (1,175)	$ 127
Contract charges		18	24
Net investment income	376	366	278
Net realized investment gains		117
Other income	3,415	5,336
Total revenues	3,770	4,662	429
Benefits and expenses
Life and health insurance claims and benefits, net	(1)	(1,204)	112
Interest credited to policyholder account balances		4	8
Operating and other expenses	1,049	1,633	137
Total benefits and expenses	1,048	433	257
Income (loss) before income taxes	2,722	4,229	172
Income tax expense (benefit)	887	1,449	11
Net Income (Loss)	1,835	2,780	161
Change in unrealized gains (losses), net of tax expense (benefit)	(98)	(437)	(47)
Reclassification adjustment for (gains) included in net income, net of tax expense (benefit)		(10)
Other Comprehensive Income (Loss)	(98)	(447)	(47)
Total Comprehensive Income (Loss)	$ 1,737	$ 2,333	$ 114

Statements of Operations and C5

Statements of Operations and Comprehensive Income (Loss) - Parenthetical - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Tax expense (benefit) portion of change in unrealized gains (losses)	$ (53)	$ (235)	$ (25)
Tax Expense (Benefit), Portion of reclassification adjustment for gains		$ (5)

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	AOCI Attributable to Parent	Retained Earnings	Total
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
Net Income (Loss)				1,835	1,835
Other Comprehensive Income (Loss)			(98)		(98)
Balance at Dec. 31, 2016	$ 5,000	$ 10,500	$ (323)	$ 8,108	$ 23,285

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net Income (Loss)	$ 1,835	$ 2,780	$ 161
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Policyholder charges on investment type contracts		(18)	(24)
Net realized investment gains		(117)
Interest credited to policyholder account balances		4	8
Deferred income taxes	240	(2)	197
Amortization of bond premium and discount	33	61	75
Amortization and write off of deferred charges	23	26	26
Increase (Decrease) in Operating Assets
Increase (Decrease) in Accrued investment income	18	(54)	(16)
Increase (Decrease) in Reinsurance recoverable	752	273	326
Increase (Decrease) in Premiums receivable	11	2	4
Increase (Decrease) in Other assets and receivables	(6,423)	(1,828)	356
Increase (Decrease) in Federal income taxes recoverable from affiliate	(1,121)	1,281	87
Increase (Decrease) in Insurance reserves	(720)	(831)	(828)
Increase (Decrease) in Unearned premiums	(1)	(2)
Increase (Decrease) in other liabilities	5,312	9,412	955
Net cash provided by operating activities	(41)	10,987	1,327
Cash flows from investing activities:
Purchases of Debt Securities		(8,760)	(7,535)
Proceeds from sale or maturity of Debt Securities	1,628	8,987	750
Net payments received on policy loans		104	6
Net cash provided by (used in) investing activities	1,628	331	(6,779)
Cash flows from financing activities:
Policyholder account deposits	634,345	596,817	252,273
Policyholder account withdrawals	(31,206)	(12,250)	(3,581)
Assets on deposit - deposits	(634,039)	(596,492)	(252,273)
Assets on deposit - withdrawals	30,951	12,098	3,531
Change in bank overdrafts	1		(1)
Net cash provided by (used in) financing activities	52	173	(51)
Change in cash and cash equivalents	1,639	11,491	(5,503)
Cash and cash equivalents at beginning of period	17,093	5,602	11,105
Cash and cash equivalents at end of period	18,732	17,093	5,602
Supplemental disclosure of cash information:
Cash received (paid) during the period for income taxes	$ (1,768)	$ (170)	$ 273

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2016
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. MLIC began selling flexible premium deferred variable annuity contracts in 2016 and single premium deferred annuity contracts in 2013. Both products are sold to credit union members through the face-to-face distribution channel. 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 2016 2015 2014 2016 2015 2014 Michigan 63 % 63 % 63 % 6 % 8 % 12 % Texas 23 23 22 8 7 8 California 6 5 5 7 8 * Indiana * * * 7 6 6 Iowa * * * 6 5 8 Wisconsin * * * 6 5 7 Pennsylvania * * * 6 5 6 Washington * * * 5 5 * Florida * * * * 5 5 Rhode Island * * * * * 8 *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, 2016. 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, 2016
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 policy 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. The Company’s life and health segment includes individual and group life policies that the Company no longer actively markets. The annuities segment includes its single premium deferred annuity contracts and flexible premium deferred variable annuity contracts which the Company began selling in 2013 and 2016, respectively. 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 (loss) 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 and flexible premium deferred variable 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 and are ceded as part of the ceding and reinsurance agreements. 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 and are ceded as part of the ceding and reinsurance agreements. 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. Policies not subject to significant mortality or longevity risk, such as the Company’s single premium deferred annuity and flexible premium deferred variable annuity contracts, are considered investment contracts. Amounts collected on these products, with the exception of the variable annuity component of the flexible premium deferred variable annuity, are recorded as increases in policyholder account balances. The variable annuity component of the flexible premium deferred variable annuity meets criteria for separate account reporting and therefore is recorded in separate account assets and liabilities. 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 2016 and 2015 includes the 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, 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 life insurance policies, all DAC has been fully amortized as of December 31, 2016 and 2015 and there was no amortization expense in 2016, 2015 or 2014. Acquisition costs on the Company’s single premium deferred annuity and flexible premium deferred variable 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 2016, 2015 or 2014. 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 2016, 2015 and 2014. The future minimum guaranteed interest rate during the life of the contracts is 4.5%. The single premium deferred annuities and risk control accounts of the flexible premium deferred variable annuities are included in policyholder account balances. These products 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 based on the issuance date of the contract. 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 (reference index) during that contract year. For the single premium deferred annuity, the Company offers one reference index, which is the S&P 500 Index. For the flexible premium deferred variable annuity, the Company offers two reference indices, which are the S&P 500 Index and the MSCI EAFE Index. Policyholders are able to allocate funds in both the Secure and Growth Accounts for the available indices. At the end of the initial index term, only the Secure Account is available as an option to the policyholder. The average annualized credited rate for the single premium deferred annuity was 1.63%, 1.65% and 1.10% in 2016, 2015 and 2014, respectively. The average annualized credited rate for the risk control accounts of the flexible premium deferred variable annuity was 1.12% in 2016. Accounts Payable and Other Liabilities The Company issues the single premium deferred 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 and risk control accounts of the flexible premium deferred variable 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. Separate Accounts Separate accounts represent customer accounts related to the variable annuity component of the flexible premium deferred variable annuity contracts issued by the Company, where investment income and investment gains and losses accrue directly to the contract holders who bear the investment risk. Contract holders are able to invest in investment funds managed for their benefit. All of the separate account assets are invested in unit investment trusts that are registered with the Securities and Exchange Commission as of December 31, 2016. Separate account assets are legally segregated and may only be used to settle separate account liabilities. Separate account assets are carried at fair value, which is based on daily quoted net asset values at which the Company could transact on behalf of the contract holder. Separate account liabilities are equal to the separate account assets and represent contract holders’ claims to the related assets. Contract holder deposits to and withdrawals from the separate accounts are recorded directly to the separate account assets and liabilities and are not included in the Company’s statements of operations and comprehensive income (loss). Charges made by the Company to the contract holders’ balances include fees for maintenance, administration, cost of insurance, and surrenders of contracts prior to the contractually specified dates. Because the Company has entered into an agreement with CMFG Life to cede 100% of this business, these revenues are ceded and do not impact the statement of operations and comprehensive income (loss). See Note 7, Reinsurance for additional information on this 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 ASU No. 2016-01 , Recognition and Measurement of Financial Assets and Liabilities In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses of Financial Instruments

Investments

Investments	12 Months Ended
	Dec. 31, 2016
Notes
Investments	Note 3: Investments Note 3—Investments, Debt Securities 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, 2016 are as follows: Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value U.S. government and agencies $ 9,063 $ 5 $ (638) $ 8,430 Mortgage-backed securities: Residential mortgage-backed 1,974 135 - 2,109 Total debt securities $ 11,037 $ 140 $ (638) $ 10,539 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 No investments were non-income producing in 2016 or 2015. The amortized cost and estimated fair values of investments in debt securities at December 31, 2016, 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 after one year through five years $ 310 $ 315 Due after ten years 8,753 8,115 Mortgage-backed securities: Residential mortgage-backed 1,974 2,109 Total debt securities $ 11,037 $ 10,539 Net Investment Income Sources of investment income for the years ended December 31 are summarized as follows: 2016 2015 2014 Gross investment income: Debt securities $ 363 $ 389 $ 304 Policy loans - 5 8 Cash and cash equivalents 53 - - Total gross investment income 416 394 312 Investment expenses (40) (28) (34) Net investment income $ 376 $ 366 $ 278 Net Realized Investment Gains Net realized investment gains for the years ended December 31 are summarized as follows: 2016 2015 2014 Debt securities Gross gains on sales $ - $ 117 $ - Net realized investment gains $ - $ 117 $ - There were no sales or transfers of debt securities in 2016 or 2014 that resulted in a realized investment gain or loss. Proceeds from the sale of debt securities were $8,389 in 2015. 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 and ability 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, 2016, 2015 and 2014 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) Note 3—Investments, 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: 2016 2015 2014 Debt securities $ (498) $ (347) $ 340 Deferred income taxes 175 122 (118) Net unrealized investment gains (losses) $ (323) $ (225) $ 222 At December 31, 2016, the Company owned one debt security with a fair value of $8,115 in an unrealized loss position of $638 for less than twelve months. 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. Embedded Derivatives The Company issues single premium deferred annuity and flexible premium deferred variable 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 $246,405 and a liability of $246,405 as of December 31, 2016 and an asset of $122,043 and a liability of $122,043 as of December 31, 2015. The increase in fair value related to embedded derivatives from the date of deposit was $49,225, $3,591 and $9,581 for the years ended December 31, 2016, 2015 and 2014, 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 Note 3—Investments, Assets Designated 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, 2016 and 2015, debt securities and cash with a carrying value of $8,876 and $10,618, 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 $1,713 and $1,732 were on deposit with other regulatory jurisdictions as of December 31, 2016 and 2015, respectively.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2016
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 years ended December 31, 2016 and 2015. 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, 2016. Assets, at Fair Value Level 1 Level 2 Level 3 Total Cash equivalents 1 $ 14,415 $ - $ - $ 14,415 Debt securities: U.S. government and agencies - 8,430 - 8,430 Mortgage-backed securities: Residential mortgage-backed - 2,109 - 2,109 Total debt securities - 10,539 - 10,539 Derivatives embedded in assets on deposit - - 246,405 246,405 Separate account assets - 20,221 - 20,221 Total assets $ 14,415 $ 30,760 $ 246,405 $ 291,580 Liabilities, at Fair Value Level1 Level2 Level3 Total Derivatives embedded in annuity contracts $ - $ - $ 246,405 $ 246,405 Total liabilities $ - $ - $ 246,405 $ 246,405 1 The following table summarizes the Company’s assets 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 Company had no assets or liabilities that required a fair value adjustment on a non-recurring basis as of December 31, 2016 or 2015. 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 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. U.S. government and agencies: Residential mortgage-backed securities: Separate account assets: 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 consideration publicly available information relating to the Company’s debt 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 liabilities and related assets on deposit measured at fair value developed by internal models as of December 31, 2016 and 2015: Predominant Significant Range of Values - Unobservable Input Valuation Method Unobservable Input 2016 2015 Single premium deferred annuities Discounted cash flow Lapse rates 2% to 4% with an 2% to 4% with an excess lapse rate at excess lapse rate at the end of the index the end of the index period of 95%. period of 95%. Company's own 105 - 181 basis points 82 - 137 basis points credit and risk margin added on to added on to discount rate discount rate Flexible premium deferred variable annuities Discounted cash flow Lapse rates 2% to 10% with an excess lapse rate at the end of the index N/A period of 80% to 95%. Company's own 105 - 181 basis points credit and risk margin added on to N/A discount rate 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, 2016. Total Realized/Unrealized Gain (Loss) Included in: Balance Balance January 1, December 31, 2016 Purchases Maturities Earnings 1 2016 Derivatives embedded in assets on deposit $ 122,043 $ 78,090 $ (2,953) $ 49,225 $ 246,405 Total assets $ 122,043 $ 78,090 $ (2,953) $ 49,225 $ 246,405 Derivatives embedded in annuity contracts $ 122,043 $ 78,090 $ (2,953) $ 49,225 $ 246,405 Total liabilities $ 122,043 $ 78,090 $ (2,953) $ 49,225 $ 246,405 1 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 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: Separate account liabilities: 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: 2016 2015 Carrying Estimated Carrying Estimated Amount Fair Value Level Amount Fair Value Level Financial instruments recorded as assets: Cash $ 4,317 $ 4,317 1 $ 1,013 $ 1,013 1 Assets on deposit 1,372,708 1,227,484 2 825,552 699,721 2 Financial instruments recorded as liabilities: Investment-type contracts 1,372,708 1,227,484 2 825,552 699,721 2 Separate account liabilities 20,221 20,221 2 - - n/a

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2016
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: 2016 2015 2014 Current tax expense (benefit) $ 647 $ 1,451 $ (186) Deferred tax expense (benefit) 240 (2) 197 Total income tax expense $ 887 $ 1,449 $ 11 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: 2016 2015 2014 Amount Rate Amount Rate Amount Rate Tax expense computed at federal corporate tax rate $ 953 35.0 % $ 1,480 35.0 % $ 60 35.0 % Income tax expense (benefit) related to prior years (53) (2.0) (31) (0.7) (41) (23.9) Dividends-received deduction (11) (0.4) - - - - Other (2) (0.1) - - (8) (4.7) Total income tax expense $ 887 32.5 % $ 1,449 34.3 % $ 11 6.4 % 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, 2016 and 2015 are as follows: 2016 2015 Deferred tax assets Policy liabilities and reserves $ 29 $ 36 Unrealized investment losses 175 122 Investments - 168 Accrued expenses 291 94 Deferred policy acquisition costs 391 309 Other 4 1 Gross deferred tax assets 890 730 Deferred tax liabilities Investments 355 - Deferred reinsurance expense 39 47 Other 1 1 Gross deferred tax liabilities 395 48 Net deferred tax asset $ 495 $ 682 Valuation Allowance The Company considered the need for a valuation allowance with respect to its gross deferred tax assets as of December 31, 2016 and 2015, and based on that evaluation, the Company has determined it is more likely than not all deferred tax assets as of December 31, 2016 and 2015 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: 2016 2015 Balance at January 1 $ 1 $ 1 Reductions for prior years' tax positions (1) 0 Balance at December 31 $ 0 $ 1 There were no unrecognized tax benefits as of December 31, 2016 and 2015 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 2017. 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 years ended December 31, 2016, 2015 or 2014. The Company had accrued $7 and $7 for the payment of interest and penalties at December 31, 2016 and 2015, respectively. The Company is 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. The Internal Revenue Service statute of limitations for tax years 2008 and 2009 are expected to close in late 2017. In 2017, the Company received approval from the Joint Committee on Taxation related to its federal income tax examinations for tax years 2008 and 2009. Other Tax Items As of December 31, 2016 and 2015, the Company did not have any capital loss, operating loss or credit carryforwards.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
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 $15,349, $8,447 and $5,641 for these expenses in 2016, 2015 and 2014, respectively; which are included in operating and other expenses. Amounts receivable/payable from/to affiliates are shown in the following table: 2016 2015 Receivable from: CMFG Life $ 11,460 $ 4,518 Total $ 11,460 $ 4,518 Payable to: CUNA Brokerage Services, Inc. $ 6,177 $ 2,478 Other 19 2 Total $ 6,196 $ 2,480 Amounts receivable from CMFG Life at December 31, 2016 and 2015 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 or flexible premium deferred variable annuity and for the cession of death claims related to the Company’s single premium deferred annuity or flexible premium deferred variable 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, $28 and $34 for the years ended December 31, 2016, 2015 and 2014, respectively, which are included as a reduction to net investment income. The Company utilizes CUNA Brokerage Services, Inc., which is 100% owned by CMIC, to distribute its single premium deferred annuity and flexible premium deferred variable annuity and recorded commission expense for this service of $24,900, $23,072 and $10,853 in 2016, 2015 and 2014, 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 and 2015 reinsurance agreements. See Note 7 regarding reinsurance and other agreements entered into by the Company and CMFG Life.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2016
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 its investment-type contracts for its flexible premium deferred variable annuity, which are accounted for using the deposit method of accounting. MLIC began selling its flexible premium deferred variable annuity in 2016. The Company had $43,734 of assets on deposit for these contracts as of December 31, 2016. The Company had related liabilities of $43,734 as of December 31, 2016, which are included in policyholder account balances in the balance sheets. The Company had separate account assets and liabilities for these contracts of $20,221 and $20,221, respectively, as of December 31, 2016. The Company receives a commission equal to 100% of its actual expenses incurred for this business, which was $6,302 and $1,027 for the years ended December 31, 2016 and 2015, respectively. 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 $1,575,379 and $947,595 of assets on deposit for these contracts as of December 31, 2016 and 2015, respectively. The Company had related liabilities of $1,575,379 and $947,595, 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 $37,961, $34,236 and $14,861 for the years ended December 31, 2016, 2015 and 2014, 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. The Company received commissions of $894, $1,567 and $1,021 for the years ended December 31, 2016, 2015 and 2014, respectively. 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, 2016 or 2015 and the entire reinsurance recoverable balance of $23,687 and $24,628, 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. MLIC believes the risk of non-collection is remote due to CMFG Life’s stable A ratings from A.M. Best Company and S&P Global Ratings and A2 rating from Moody’s Investors Service. 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: 2016 2015 2014 Face amount of policies in force $ 95,577 $ 110,827 $ 123,223 Premiums: Direct - written $ 2,168 $ 2,384 $ 2,613 Direct - change in unearned 1 - - Direct - earned 2,169 2,384 2,613 Ceded to affiliate - written (2,172) (3,559) (2,482) Ceded to affiliate - change in unearned (18) - (4) Ceded to affiliate - earned (2,190) (3,559) (2,486) Premiums - written, net (4) (1,175) 131 Premiums - change in unearned, net (17) - (4) Premiums, net $ (21) $ (1,175) $ 127 Contract charges: Direct $ 1,303 $ 742 $ 472 Ceded to affiliate (1,303) (724) (448) Contract charges, net $ - $ 18 $ 24 Claims, benefits and losses incurred: Direct $ 1,761 $ 1,784 $ 1,883 Ceded to affiliate (1,762) (2,988) (1,771) Claims, benefits and losses, net $ (1) $ (1,204) $ 112 Interest credited to policyholder account balances: Direct $ 20,519 $ 9,833 $ 2,457 Ceded to affiliate (20,519) (9,829) (2,449) Interest credited to policyholder account balances, net $ - $ 4 $ 8

Statutory Financial Data and Di

Statutory Financial Data and Dividend Restrictions	12 Months Ended
	Dec. 31, 2016
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 2016, 2015 or 2014. 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) 2016 2015 2016 2015 2014 MLIC $ 23,205 $ 21,111 $ 1,051 $ 1,112 $ (1,792) 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 $2,321 during 2017, without prior approval of the Insurance Department. Risk-based capital (“RBC”) requirements promulgated by the National Association of Insurance Commissioners (NAIC) 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, 2016 and 2015, the Company’s adjusted capital exceeded the RBC minimum requirements as required by the NAIC.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2016
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, 2014 $ 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) Change in unrealized holding gains (losses), net of tax - ($53) (98) (98) Balance, December 31, 2016 $ (323) $ (323) 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: 2016 2015 2014 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, 2016
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, 2016. Year ended or as of December 31, 2016 Life and Health Annuities Total Revenues $ (21) $ - $ (21) - - - Net investment income 376 - 376 Net realized investment gains - - - Other income 3,415 - 3,415 Total revenues 3,770 - 3,770 Benefits and expenses (1) - (1) Interest credited to policyholder account balances - - - Operating and other expenses 1,033 16 1,049 Total benefits and expenses 1,032 16 1,048 Income before income taxes 2,738 (16) 2,722 Income tax expense (benefit) 892 (5) 887 Net income 1,846 (11) 1,835 Change in unrealized (losses), net of tax (benefit) (98) - (98) Other comprehensive (loss) (98) - (98) Total comprehensive income (loss) $ 1,748 $ (11) $ 1,737 Reinsurance recoverable from affiliate $ 23,687 $ - $ 23,687 Assets on deposit - 1,619,113 1,619,113 Claim and policy benefit reserves - life and health 20,344 1,162 21,506 Policyholder account balances 3,335 1,619,113 1,622,448 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 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 income $ 114 $ - $ 114

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
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 2016 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 $667 and $270 at December 31, 2016 and 2015, 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, 2016 and 2015 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, 2016
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, 2016
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, 2016
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 policy 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, 2016
Policies
Segment Reporting	Segment Reporting The Company is currently managed as two reportable business segments, (1) life and health and (2) annuities. The Company’s life and health segment includes individual and group life policies that the Company no longer actively markets. The annuities segment includes its single premium deferred annuity contracts and flexible premium deferred variable annuity contracts which the Company began selling in 2013 and 2016, respectively. 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, 2016
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 (loss) 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, 2016
Policies
Derivative Financial Instruments	Derivative Financial Instruments The Company issues single premium deferred annuity and flexible premium deferred variable 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 and are ceded as part of the ceding and reinsurance agreements. 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 and are ceded as part of the ceding and reinsurance agreements.

Summary of Significant Accoun25

Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2016
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, 2016
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. Policies not subject to significant mortality or longevity risk, such as the Company’s single premium deferred annuity and flexible premium deferred variable annuity contracts, are considered investment contracts. Amounts collected on these products, with the exception of the variable annuity component of the flexible premium deferred variable annuity, are recorded as increases in policyholder account balances. The variable annuity component of the flexible premium deferred variable annuity meets criteria for separate account reporting and therefore is recorded in separate account assets and liabilities. 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 / Operating and Other Expenses (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Other Income / Operating and Other Expenses	Other Income / Operating and Other Expenses Other income in 2016 and 2015 includes the 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, 2016
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, 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 life insurance policies, all DAC has been fully amortized as of December 31, 2016 and 2015 and there was no amortization expense in 2016, 2015 or 2014. Acquisition costs on the Company’s single premium deferred annuity and flexible premium deferred variable 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, 2016
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 2016, 2015 or 2014.

Summary of Significant Accoun30

Summary of Significant Accounting Policies: Policyholder Account Balances (Policies)	12 Months Ended
	Dec. 31, 2016
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 2016, 2015 and 2014. The future minimum guaranteed interest rate during the life of the contracts is 4.5%. The single premium deferred annuities and risk control accounts of the flexible premium deferred variable annuities are included in policyholder account balances. These products 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 based on the issuance date of the contract. 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 (reference index) during that contract year. For the single premium deferred annuity, the Company offers one reference index, which is the S&P 500 Index. For the flexible premium deferred variable annuity, the Company offers two reference indices, which are the S&P 500 Index and the MSCI EAFE Index. Policyholders are able to allocate funds in both the Secure and Growth Accounts for the available indices. At the end of the initial index term, only the Secure Account is available as an option to the policyholder. The average annualized credited rate for the single premium deferred annuity was 1.63%, 1.65% and 1.10% in 2016, 2015 and 2014, respectively. The average annualized credited rate for the risk control accounts of the flexible premium deferred variable annuity was 1.12% in 2016.

Summary of Significant Accoun31

Summary of Significant Accounting Policies: Accounts Payable and Other Liabilities (Policies)	12 Months Ended
	Dec. 31, 2016
Policies
Accounts Payable and Other Liabilities	Accounts Payable and Other Liabilities The Company issues the single premium deferred annuity contracts on the 10 th th

Summary of Significant Accoun32

Summary of Significant Accounting Policies: Reinsurance (Policies)	12 Months Ended
	Dec. 31, 2016
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, 2016
Policies
Assets On Deposit	Assets on Deposit Assets on deposit represent the amount of policyholder account balances related to the single premium deferred annuity and risk control accounts of the flexible premium deferred variable 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, 2016
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, 2016
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 ASU No. 2016-01 , Recognition and Measurement of Financial Assets and Liabilities In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses of Financial Instruments

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, 2016
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 2016 2015 2014 2016 2015 2014 Michigan 63 % 63 % 63 % 6 % 8 % 12 % Texas 23 23 22 8 7 8 California 6 5 5 7 8 * Indiana * * * 7 6 6 Iowa * * * 6 5 8 Wisconsin * * * 6 5 7 Pennsylvania * * * 6 5 6 Washington * * * 5 5 * Florida * * * * 5 5 Rhode Island * * * * * 8 *Less than 5%.

Investments_ Investments in Deb

Investments: Investments in Debt Securities (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Investments in Debt Securities	Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value U.S. government and agencies $ 9,063 $ 5 $ (638) $ 8,430 Mortgage-backed securities: Residential mortgage-backed 1,974 135 - 2,109 Total debt securities $ 11,037 $ 140 $ (638) $ 10,539 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

Investments_ Investments Classi

Investments: Investments Classified by Contractual Maturity Date (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Investments Classified by Contractual Maturity Date	Amortized Estimated Cost Fair Value Due after one year through five years $ 310 $ 315 Due after ten years 8,753 8,115 Mortgage-backed securities: Residential mortgage-backed 1,974 2,109 Total debt securities $ 11,037 $ 10,539

Investments_ Investment Income

Investments: Investment Income (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Investment Income	2016 2015 2014 Gross investment income: Debt securities $ 363 $ 389 $ 304 Policy loans - 5 8 Cash and cash equivalents 53 - - Total gross investment income 416 394 312 Investment expenses (40) (28) (34) Net investment income $ 376 $ 366 $ 278

Investments_ Realized Gain (Los

Investments: Realized Gain (Loss) on Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Realized Gain (Loss) on Investments	2016 2015 2014 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, 2016
Tables/Schedules
Unrealized Gain (Loss) on Investments	2016 2015 2014 Debt securities $ (498) $ (347) $ 340 Deferred income taxes 175 122 (118) Net unrealized investment gains (losses) $ (323) $ (225) $ 222

Fair Value_ Fair Value Assets m

Fair Value: Fair Value Assets measured on a Recurring Basis (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Fair Value Assets measured on a Recurring Basis	Assets, at Fair Value Level 1 Level 2 Level 3 Total Cash equivalents 1 $ 14,415 $ - $ - $ 14,415 Debt securities: U.S. government and agencies - 8,430 - 8,430 Mortgage-backed securities: Residential mortgage-backed - 2,109 - 2,109 Total debt securities - 10,539 - 10,539 Derivatives embedded in assets on deposit - - 246,405 246,405 Separate account assets - 20,221 - 20,221 Total assets $ 14,415 $ 30,760 $ 246,405 $ 291,580 Liabilities, at Fair Value Level1 Level2 Level3 Total Derivatives embedded in annuity contracts $ - $ - $ 246,405 $ 246,405 Total liabilities $ - $ - $ 246,405 $ 246,405 1 The following table summarizes the Company’s assets 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

Fair Value_ Schedule of changes

Fair Value: Schedule of changes in assets and liabilities classified as Level 3 (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 Purchases Maturities Earnings 1 2016 Derivatives embedded in assets on deposit $ 122,043 $ 78,090 $ (2,953) $ 49,225 $ 246,405 Total assets $ 122,043 $ 78,090 $ (2,953) $ 49,225 $ 246,405 Derivatives embedded in annuity contracts $ 122,043 $ 78,090 $ (2,953) $ 49,225 $ 246,405 Total liabilities $ 122,043 $ 78,090 $ (2,953) $ 49,225 $ 246,405 1 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

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, 2016
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	2016 2015 Carrying Estimated Carrying Estimated Amount Fair Value Level Amount Fair Value Level Financial instruments recorded as assets: Cash $ 4,317 $ 4,317 1 $ 1,013 $ 1,013 1 Assets on deposit 1,372,708 1,227,484 2 825,552 699,721 2 Financial instruments recorded as liabilities: Investment-type contracts 1,372,708 1,227,484 2 825,552 699,721 2 Separate account liabilities 20,221 20,221 2 - - n/a

Income Tax_ Schedule of Compone

Income Tax: Schedule of Components of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	2016 2015 2014 Current tax expense (benefit) $ 647 $ 1,451 $ (186) Deferred tax expense (benefit) 240 (2) 197 Total income tax expense $ 887 $ 1,449 $ 11

Income Tax_ Schedule of Effecti

Income Tax: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	2016 2015 2014 Amount Rate Amount Rate Amount Rate Tax expense computed at federal corporate tax rate $ 953 35.0 % $ 1,480 35.0 % $ 60 35.0 % Income tax expense (benefit) related to prior years (53) (2.0) (31) (0.7) (41) (23.9) Dividends-received deduction (11) (0.4) - - - - Other (2) (0.1) - - (8) (4.7) Total income tax expense $ 887 32.5 % $ 1,449 34.3 % $ 11 6.4 %

Income Tax_ Schedule of Deferre

Income Tax: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	2016 2015 Deferred tax assets Policy liabilities and reserves $ 29 $ 36 Unrealized investment losses 175 122 Investments - 168 Accrued expenses 291 94 Deferred policy acquisition costs 391 309 Other 4 1 Gross deferred tax assets 890 730 Deferred tax liabilities Investments 355 - Deferred reinsurance expense 39 47 Other 1 1 Gross deferred tax liabilities 395 48 Net deferred tax asset $ 495 $ 682

Income Tax_ Schedule of Unrecog

Income Tax: Schedule of Unrecognized Tax Benefits Roll Forward (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Unrecognized Tax Benefits Roll Forward	2016 2015 Balance at January 1 $ 1 $ 1 Reductions for prior years' tax positions (1) 0 Balance at December 31 $ 0 $ 1

Related Party Transactions_ Sch

Related Party Transactions: Schedule of Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Related Party Transactions	2016 2015 Receivable from: CMFG Life $ 11,460 $ 4,518 Total $ 11,460 $ 4,518 Payable to: CUNA Brokerage Services, Inc. $ 6,177 $ 2,478 Other 19 2 Total $ 6,196 $ 2,480

Reinsurance_ Effects of Reinsur

Reinsurance: Effects of Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Effects of Reinsurance	2016 2015 2014 Face amount of policies in force $ 95,577 $ 110,827 $ 123,223 Premiums: Direct - written $ 2,168 $ 2,384 $ 2,613 Direct - change in unearned 1 - - Direct - earned 2,169 2,384 2,613 Ceded to affiliate - written (2,172) (3,559) (2,482) Ceded to affiliate - change in unearned (18) - (4) Ceded to affiliate - earned (2,190) (3,559) (2,486) Premiums - written, net (4) (1,175) 131 Premiums - change in unearned, net (17) - (4) Premiums, net $ (21) $ (1,175) $ 127 Contract charges: Direct $ 1,303 $ 742 $ 472 Ceded to affiliate (1,303) (724) (448) Contract charges, net $ - $ 18 $ 24 Claims, benefits and losses incurred: Direct $ 1,761 $ 1,784 $ 1,883 Ceded to affiliate (1,762) (2,988) (1,771) Claims, benefits and losses, net $ (1) $ (1,204) $ 112 Interest credited to policyholder account balances: Direct $ 20,519 $ 9,833 $ 2,457 Ceded to affiliate (20,519) (9,829) (2,449) Interest credited to policyholder account balances, net $ - $ 4 $ 8

Statutory Financial Data and 51

Statutory Financial Data and Dividend Restrictions: Schedule of certain statutory basis financial information (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of certain statutory basis financial information	Statutory Basis Statutory Basis Capital and Surplus Net Income (Loss) 2016 2015 2016 2015 2014 MLIC $ 23,205 $ 21,111 $ 1,051 $ 1,112 $ (1,792)

Accumulated Other Comprehensi52

Accumulated Other Comprehensive Income: Schedule of Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Unrealized Other Investment Comprehensive Gains (Loss) Income (Loss) Balance, January 1, 2014 $ 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) Change in unrealized holding gains (losses), net of tax - ($53) (98) (98) Balance, December 31, 2016 $ (323) $ (323)

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Income: Reclassification out of Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2016
Tables/Schedules
Reclassification out of Accumulated Other Comprehensive Income	2016 2015 2014 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, 2016
Tables/Schedules
Schedule of Segment Reporting Information, by Segment	Year ended or as of December 31, 2016 Life and Health Annuities Total Revenues $ (21) $ - $ (21) - - - Net investment income 376 - 376 Net realized investment gains - - - Other income 3,415 - 3,415 Total revenues 3,770 - 3,770 Benefits and expenses (1) - (1) Interest credited to policyholder account balances - - - Operating and other expenses 1,033 16 1,049 Total benefits and expenses 1,032 16 1,048 Income before income taxes 2,738 (16) 2,722 Income tax expense (benefit) 892 (5) 887 Net income 1,846 (11) 1,835 Change in unrealized (losses), net of tax (benefit) (98) - (98) Other comprehensive (loss) (98) - (98) Total comprehensive income (loss) $ 1,748 $ (11) $ 1,737 Reinsurance recoverable from affiliate $ 23,687 $ - $ 23,687 Assets on deposit - 1,619,113 1,619,113 Claim and policy benefit reserves - life and health 20,344 1,162 21,506 Policyholder account balances 3,335 1,619,113 1,622,448 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 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 income $ 114 $ - $ 114

Nature of Business_ Schedule 55

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, 2016		Dec. 31, 2015		Dec. 31, 2014
MICHIGAN
Direct Life and Health Premiums greater than 5% of total direct premiums		63.00%		63.00%		63.00%
Deposits on Annuity Contracts greater than 5% of total deposits		6.00%		8.00%		12.00%
TEXAS
Direct Life and Health Premiums greater than 5% of total direct premiums		23.00%		23.00%		22.00%
Deposits on Annuity Contracts greater than 5% of total deposits		8.00%		7.00%		8.00%
CALIFORNIA
Direct Life and Health Premiums greater than 5% of total direct premiums		6.00%		5.00%		5.00%
Deposits on Annuity Contracts greater than 5% of total deposits		7.00%		8.00%		0.00%	[1]
INDIANA
Direct Life and Health Premiums greater than 5% of total direct premiums	[1]	0.00%		0.00%		0.00%
Deposits on Annuity Contracts greater than 5% of total deposits		7.00%		6.00%		6.00%
IOWA
Direct Life and Health Premiums greater than 5% of total direct premiums	[1]	0.00%		0.00%		0.00%
Deposits on Annuity Contracts greater than 5% of total deposits		6.00%		5.00%		8.00%
WISCONSIN
Direct Life and Health Premiums greater than 5% of total direct premiums	[1]	0.00%		0.00%		0.00%
Deposits on Annuity Contracts greater than 5% of total deposits		6.00%		5.00%		7.00%
PENNSYLVANIA
Direct Life and Health Premiums greater than 5% of total direct premiums	[1]	0.00%		0.00%		0.00%
Deposits on Annuity Contracts greater than 5% of total deposits		6.00%		5.00%		6.00%
WASHINGTON
Direct Life and Health Premiums greater than 5% of total direct premiums	[1]	0.00%		0.00%		0.00%
Deposits on Annuity Contracts greater than 5% of total deposits		5.00%		5.00%		0.00%
FLORIDA
Direct Life and Health Premiums greater than 5% of total direct premiums	[1]	0.00%		0.00%		0.00%
Deposits on Annuity Contracts greater than 5% of total deposits		0.00%	[1]	5.00%		5.00%
RHODE ISLAND
Direct Life and Health Premiums greater than 5% of total direct premiums	[1]	0.00%		0.00%		0.00%
Deposits on Annuity Contracts greater than 5% of total deposits		0.00%	[1]	0.00%	[1]	8.00%
[1]	Less than 5%

Summary of Significant Accoun56

Summary of Significant Accounting Policies: Policyholder Account Balances (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Average credited interest rate	4.50%	4.50%	4.50%
Future minimum guaranteed interest rate	4.50%

Summary of Significant Accoun57

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Details
Separate Accounts	Separate Accounts Separate accounts represent customer accounts related to the variable annuity component of the flexible premium deferred variable annuity contracts issued by the Company, where investment income and investment gains and losses accrue directly to the contract holders who bear the investment risk. Contract holders are able to invest in investment funds managed for their benefit. All of the separate account assets are invested in unit investment trusts that are registered with the Securities and Exchange Commission as of December 31, 2016. Separate account assets are legally segregated and may only be used to settle separate account liabilities. Separate account assets are carried at fair value, which is based on daily quoted net asset values at which the Company could transact on behalf of the contract holder. Separate account liabilities are equal to the separate account assets and represent contract holders’ claims to the related assets. Contract holder deposits to and withdrawals from the separate accounts are recorded directly to the separate account assets and liabilities and are not included in the Company’s statements of operations and comprehensive income (loss). Charges made by the Company to the contract holders’ balances include fees for maintenance, administration, cost of insurance, and surrenders of contracts prior to the contractually specified dates. Because the Company has entered into an agreement with CMFG Life to cede 100% of this business, these revenues are ceded and do not impact the statement of operations and comprehensive income (loss). See Note 7, Reinsurance for additional information on this agreement.	no

Investments_ Investments in D58

Investments: Investments in Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Available-for-sale Debt Securities, Amortized Cost Basis	$ 11,037	$ 12,698
Debt securities, available for sale, at fair value	10,539	12,351
US Government Agencies Debt Securities
Available-for-sale Debt Securities, Amortized Cost Basis	9,063	10,333
Available-for-sale Debt Securities Gross Unrealized Gain	5	26
Available-for-sale Debt Securities, Gross Unrealized Loss	(638)	(546)
Debt securities, available for sale, at fair value	8,430	9,813
Residential Mortgage Backed Securities
Available-for-sale Debt Securities, Amortized Cost Basis	1,974	2,365
Available-for-sale Debt Securities Gross Unrealized Gain	135	173
Debt securities, available for sale, at fair value	2,109	2,538
Debt Securities
Available-for-sale Debt Securities, Amortized Cost Basis	11,037	12,698
Available-for-sale Debt Securities Gross Unrealized Gain	140	199
Available-for-sale Debt Securities, Gross Unrealized Loss	(638)	(546)
Debt securities, available for sale, at fair value	$ 10,539	$ 12,351

Investments_ Investments Clas59

Investments: Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Available-for-sale Debt Securities, Amortized Cost Basis	$ 11,037	$ 12,698
Debt securities, available for sale, at fair value	10,539	12,351
Residential Mortgage Backed Securities
Available-for-sale Debt Securities, Amortized Cost Basis	1,974	2,365
Debt securities, available for sale, at fair value	2,109	2,538
Debt Securities
Available-for-sale Debt Securities, Amortized Cost Basis	11,037	12,698
Debt securities, available for sale, at fair value	10,539	$ 12,351
Due after one year through five years
Available-for-sale Debt Securities, Amortized Cost Basis	310
Debt securities, available for sale, at fair value	315
Due after ten years
Available-for-sale Debt Securities, Amortized Cost Basis	8,753
Debt securities, available for sale, at fair value	$ 8,115

Investments_ Investment Incom60

Investments: Investment Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gross Investment Income, Operating	$ 416	$ 394	$ 312
Investment Income, Investment Expense	(40)	(28)	(34)
Net Investment Income	376	366	278
Debt Securities
Gross Investment Income, Operating	$ 363	389	304
Policy loans
Gross Investment Income, Operating		$ 5	$ 8

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, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Proceeds from sale of debt securities				$ 0	$ 8,389	$ 0
Fair value of debt security in unrealized loss position	$ 8,115	$ 8,210	$ 7,526	8,115	8,210	7,526
Gross unrealized losses	638	546	$ 4
Embedded Derivatives, Assets	246,405	122,043		246,405	122,043
Embedded Derivatives, Liabilities	246,405	122,043		246,405	122,043
Embedded Derivatives, Increase (Decrease) in fair value				49,225	3,591	$ 9,581
Securities on deposit with regulatory jurisdictions	$ 1,713	$ 1,732		$ 1,713	$ 1,732

Investments_ Unrealized Gain 63

Investments: Unrealized Gain (Loss) on Investments (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net unrealized investment gains included in AOCI	$ (323)	$ (225)	$ 222
Debt Securities
Net unrealized investment gains included in AOCI	(498)	(347)	340
DeferredIncomeTaxesMember
Net unrealized investment gains included in AOCI	$ 175	$ 122	$ (118)

Fair Value (Details)

Fair Value (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Details
Separate Accounts	Separate Accounts Separate accounts represent customer accounts related to the variable annuity component of the flexible premium deferred variable annuity contracts issued by the Company, where investment income and investment gains and losses accrue directly to the contract holders who bear the investment risk. Contract holders are able to invest in investment funds managed for their benefit. All of the separate account assets are invested in unit investment trusts that are registered with the Securities and Exchange Commission as of December 31, 2016. Separate account assets are legally segregated and may only be used to settle separate account liabilities. Separate account assets are carried at fair value, which is based on daily quoted net asset values at which the Company could transact on behalf of the contract holder. Separate account liabilities are equal to the separate account assets and represent contract holders’ claims to the related assets. Contract holder deposits to and withdrawals from the separate accounts are recorded directly to the separate account assets and liabilities and are not included in the Company’s statements of operations and comprehensive income (loss). Charges made by the Company to the contract holders’ balances include fees for maintenance, administration, cost of insurance, and surrenders of contracts prior to the contractually specified dates. Because the Company has entered into an agreement with CMFG Life to cede 100% of this business, these revenues are ceded and do not impact the statement of operations and comprehensive income (loss). See Note 7, Reinsurance for additional information on this agreement.	no
Fair Value, Equity, Level 1 to Level 2 Transfers, Amount	$ 0	$ 0
Fair Value, Equity, Level 2 to Level 1 Transfers, Amount	0	0
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount	0	0
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount	0	$ 0
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	$ 0

Fair Value_ Fair Value Assets65

Fair Value: Fair Value Assets measured on a Recurring Basis (Details) - USD ($)	Dec. 31, 2016		Dec. 31, 2015
Assets, Fair Value Disclosure	$ 291,580		$ 150,474
Financial and Nonfinancial Liabilities, Fair Value Disclosure	246,405		122,043
Cash and Cash Equivalents
Assets, Fair Value Disclosure	14,415	[1]	16,080	[2]
US Government Agencies Debt Securities
Assets, Fair Value Disclosure	8,430		9,813
Residential Mortgage Backed Securities
Assets, Fair Value Disclosure	2,109		2,538
Debt Securities
Assets, Fair Value Disclosure	10,539		12,351
Derivative
Assets, Fair Value Disclosure	246,405		122,043
Financial and Nonfinancial Liabilities, Fair Value Disclosure	246,405		122,043
Separate Account Assets
Assets, Fair Value Disclosure	20,221
Fair Value, Inputs, Level 1
Assets, Fair Value Disclosure	14,415		16,080
Fair Value, Inputs, Level 1 | Cash and Cash Equivalents
Assets, Fair Value Disclosure	14,415	[1]	16,080	[2]
Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure	30,760		12,351
Fair Value, Inputs, Level 2 | US Government Agencies Debt Securities
Assets, Fair Value Disclosure	8,430		9,813
Fair Value, Inputs, Level 2 | Residential Mortgage Backed Securities
Assets, Fair Value Disclosure	2,109		2,538
Fair Value, Inputs, Level 2 | Debt Securities
Assets, Fair Value Disclosure	10,539		12,351
Fair Value, Inputs, Level 2 | Separate Account Assets
Assets, Fair Value Disclosure	20,221
Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure	246,405		122,043
Financial and Nonfinancial Liabilities, Fair Value Disclosure	246,405		122,043
Fair Value, Inputs, Level 3 | Derivative
Assets, Fair Value Disclosure	246,405		122,043
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 246,405		$ 122,043
[1]	Excludes cash of $4,317 that is not subject to fair value accounting.
[2]	Excludes cash of $1,013 that is not subject to fair value accounting.

Fair Value_ Schedule of chang66

Fair Value: Schedule of changes in assets and liabilities classified as Level 3 (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Assets classified as level 3		$ 122,043	$ 45,503
Assets classified as level 3, Purchases		78,090	73,631
Assets classified as level 3, Maturities		(2,953)	(682)
Assets classified as level 3, Earnings	[1]	49,225	3,591
Assets classified as level 3		246,405	122,043
Liabilities classified as level 3		122,043	45,503
Liabilities classified as level 3, Purchases		78,090	73,631
Liabilities classified as level 3, Earnings	[1]	49,225	3,591
Liabilities classified as level 3		246,405	122,043
Derivative
Assets classified as level 3		122,043	45,503
Assets classified as level 3, Purchases		78,090	73,631
Assets classified as level 3, Maturities		(2,953)	(682)
Assets classified as level 3, Earnings	[1]	49,225	3,591
Assets classified as level 3			122,043
Liabilities classified as level 3		122,043	45,503
Liabilities classified as level 3, Purchases		78,090	73,631
Liabilities classified as level 3, Earnings	[1]	49,225	3,591
Liabilities classified as level 3		$ 246,405	$ 122,043
[1]	Included in earnings is realized gains and losses on embedded derivatives.

Fair Value_ Carrying amounts 67

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, 2016USD ($)	Dec. 31, 2015USD ($)
Separate Account Assets
Financial instruments recorded as liabilities, Carrying Amount	$ 20,221
Financial instruments recorded as liabilities, Estimated Fair Value	$ 20,221
Financial instruments recorded as liabilities, Level	2
Investment Contracts
Financial instruments recorded as liabilities, Carrying Amount	$ 1,372,708	$ 825,552
Financial instruments recorded as liabilities, Estimated Fair Value	$ 1,227,484	$ 699,721
Financial instruments recorded as liabilities, Level	2	2
Cash
Financial instruments recorded as assets, Carrying Amount	$ 4,317	$ 1,013
Financial instruments recorded as assets, Estimated Fair Value	$ 4,317	$ 1,013
Financial instruments recorded as assets, Level	1	1
Assets on deposit
Financial instruments recorded as assets, Carrying Amount	$ 1,372,708	$ 825,552
Financial instruments recorded as assets, Estimated Fair Value	$ 1,227,484	$ 699,721
Financial instruments recorded as assets, Level	2	2

Income Tax_ Schedule of Compo68

Income Tax: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Current Income Tax Expense (Benefit)	$ 647	$ 1,451	$ (186)
Deferred Income Tax Expense (Benefit)	240	(2)	197
Income tax expense (benefit)	$ 887	$ 1,449	$ 11

Income Tax_ Schedule of Defer69

Income Tax: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred Tax Assets, Gross
Deferred Tax Assets, Policy Liabilities and Reserves	$ 29	$ 36
Deferred Tax Assets, Unrealized Losses on Available-for-Sale Securities, Gross	175	122
Deferred Tax Assets, Investments		168
Deferred Tax Assets, Tax Deferred Expense	291	94
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Policyholder Liabilities	391	309
Deferred Tax Assets, Other	4	1
Deferred Tax Assets, Gross	890	730
Deferred Tax Liabilities, Gross
Deferred Tax Liabilities, Investments	355
Deferred Tax Liabilities, Deferred Insurance Expense	39	47
Deferred Tax Liabilities, Other	1	1
Deferred Tax Liabilities, Gross	395	48
Net deferred tax asset	$ 495	$ 682

Income Tax_ Schedule of Unrec70

Income Tax: Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Details
Unrecognized Tax Benefits, Beginning Balance	$ 1	$ 1
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(1)	0
Unrecognized Tax Benefits, Ending Balance	$ 0	$ 1

Income Tax (Details)

Income Tax (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
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, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Shared Expenses remibursed	$ 15,349	$ 8,447	$ 5,641

Related Party Transactions_ S73

Related Party Transactions: Schedule of Related Party Transactions (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Due from Related Parties, Current	$ 11,460	$ 4,518
Due to Related Parties, Current	6,196	2,480
CMFG Life Insurance Company
Due from Related Parties, Current	11,460	4,518
CUNA Brokerage Services, Inc
Due to Related Parties, Current	6,177	2,478
Other Related Parties
Due to Related Parties, Current	$ 19	$ 2

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Ceded Premiums Earned	$ 1,297	$ (2,190)	$ (3,559)	$ (2,486)
Policyholder Benefits and Claims Incurred, Ceded	$ 1,244	$ (1,762)	$ (2,988)	$ (1,771)

Reinsurance_ Effects of Reins75

Reinsurance: Effects of Reinsurance (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Details
Face amount of policies in force		$ 95,577	$ 110,827	$ 123,223
Premiums Written and Earned
Direct Premiums Written		2,168	2,384	2,613
Direct Premiums Unearned		1
Direct Premiums Earned		2,169	2,384	2,613
Ceded Premiums Written		(2,172)	(3,559)	(2,482)
Ceded Premiums Unearned		(18)		(4)
Ceded Premiums Earned	$ 1,297	(2,190)	(3,559)	(2,486)
Premiums written, net		(4)	(1,175)	131
Change in unearned premiums, net		(17)		(4)
Premiums, Net		(21)	(1,175)	127
Contract revenue direct		1,303	742	472
Contract revenue ceded to affiliate		(1,303)	(724)	(448)
Contract charges			18	24
Policyholder Benefits and Claims Incurred, Net
Policyholder Benefits and Claims Incurred, Direct		1,761	1,784	1,883
Policyholder Benefits and Claims Incurred, Ceded	$ 1,244	(1,762)	(2,988)	(1,771)
Policyholder Benefits and Claims Incurred, Net		(1)	(1,204)	112
Interest credited to policyholder account balances ceded to affiliate		20,519	9,833	2,457
Interest credited to policyholder account balances, ceded to affiliate		$ (20,519)	(9,829)	(2,449)
Interest credited to policyholder account balances			$ 4	$ 8

Accumulated Other Comprehensi76

Accumulated Other Comprehensive Income: Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Details
Unrealized Investment Gain (Loss), Balance	$ (225)		$ 222		$ 269
Accumulated Other Comprehensive Income, net of tax	(225)		222		269
Unrealized Gain (Loss) on Investments	(98)	[1]	(447)	[2]	(47)	[3]
Change in unrealized holding gains	(98)	[1]	(447)	[2]	(47)	[3]
Unrealized Investment Gain (Loss), Balance	(323)		(225)		222
Accumulated Other Comprehensive Income, net of tax	$ (323)		$ (225)		$ 222
[1]	Change in unrealized holding gains, net of tax - ($53)
[2]	Change in unrealized holding gains, net of tax - ($240)
[3]	Change in unrealized holding gains, net of tax - ($25)

Accumulated Other Comprehensi77

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

Business Segment Information_78

Business Segment Information: Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Life and health premiums, net	$ (21)	$ (1,175)	$ 127
Contract charges		18	24
Net investment income	376	366	278
Debt Securities, Net realized investment gains		117
Other Income	3,415	5,336
Total revenues	3,770	4,662	429
Benefits and expenses
Life and health insurance claims and benefits, net	(1)	(1,204)	112
Interest credited to policyholder account balances		4	8
Operating and other expenses	1,049	1,633	137
Total benefits and expenses	1,048	433	257
Income (loss) before income taxes	2,722	4,229	172
Income tax expense (benefit)	887	1,449	11
Net Income (Loss)	1,835	2,780	161
Change in unrealized gains (losses), net of tax (benefit)	(98)	(447)	(47)
Other Comprehensive Income (Loss)	(98)	(447)	(47)
Total Comprehensive Income (Loss)	1,737	2,333	114
Reinsurance recoverable from affiliate	23,687	24,628
Assets on deposit	1,619,113	947,595
Claim and policy benefit reserves - life and health	21,506	21,537
Policyholder account balances	1,622,448	951,068
Life and Health
Revenues
Life and health premiums, net	(21)	(1,175)	127
Contract charges		18	24
Net investment income	376	366	278
Debt Securities, Net realized investment gains		117
Other Income	3,415	5,336
Total revenues	3,770	4,662	429
Benefits and expenses
Life and health insurance claims and benefits, net	(1)	(1,204)	112
Interest credited to policyholder account balances		4	8
Operating and other expenses	1,033	1,633	137
Total benefits and expenses	1,032	433	257
Income (loss) before income taxes	2,738	4,229	172
Income tax expense (benefit)	892	1,449	11
Net Income (Loss)	1,846	2,780	161
Change in unrealized gains (losses), net of tax (benefit)	(98)	(447)	(47)
Other Comprehensive Income (Loss)	(98)	(447)	(47)
Total Comprehensive Income (Loss)	1,748	2,333	$ 114
Reinsurance recoverable from affiliate	23,687	24,628
Claim and policy benefit reserves - life and health	20,344	21,077
Policyholder account balances	3,335	3,473
Annuities
Benefits and expenses
Operating and other expenses	16
Total benefits and expenses	16
Income (loss) before income taxes	(16)
Income tax expense (benefit)	(5)
Net Income (Loss)	(11)
Total Comprehensive Income (Loss)	(11)
Assets on deposit	1,619,113	947,595
Claim and policy benefit reserves - life and health	1,162	460
Policyholder account balances	$ 1,619,113	$ 947,595