Midwest Holding (MDWT) 10-K 16 Apr 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Mar. 01, 2018	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	MIDWEST HOLDING INC.
Entity Central Index Key	355,379
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		22,860,701
Document Type	10-K
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Public Float			$ 39,444
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2017
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017
Entity Voluntary Filers	No

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Investments, available for sale, at fair value
Fixed maturities (amortized cost: $21,573,519 and $29,024,083, respectively)	$ 21,005,907	$ 27,738,939
Real estate, held for investment	505,688	517,729
Policy Loans	435,196	412,583
Total investments	21,946,791	28,669,251
Cash and cash equivalents	951,527	661,545
Amounts recoverable from reinsurers	21,855,266	11,704,055
Interest due and accrued	223,166	312,054
Due premiums	635,835	670,989
Deferred acquisition costs, net	2,046,864	2,568,799
Value of business acquired, net	427,454	1,726,192
Intangible assets	700,000	700,000
Property and equipment, net	127,976	158,471
Other assets	107,723	95,773
Total assets	49,022,602	47,267,129
Liabilities:
Benefit reserves	26,228,105	24,606,543
Policy claims	447,513	565,148
Deposit-type contracts	18,421,055	16,012,567
Advance premiums	40,839	52,074
Deferred gain on coinsurance transaction	322,487
Total policy liabilities	45,459,999	41,236,332
Accounts payable and accrued expenses	790,361	1,211,875
Surplus notes	550,000	550,000
Total liabilities	46,800,360	42,998,207
Stockholders' Equity:
Common stock, $0.001 par value. Authorized 120,000,000 shares; issued and outstanding 22,860,701 shares as of December 31, 2017 and 22,558,956 as of December 31, 2016.	22,861	22,559
Additional paid-in capital	33,006,255	33,036,924
Accumulated deficit	(30,252,971)	(27,533,447)
Accumulated other comprehensive loss	(553,903)	(1,257,291)
Total stockholders' equity	2,222,242	4,268,922
Total liabilities and stockholders' equity	49,022,602	47,267,129
Series A Preferred Stock [Member]
Stockholders' Equity:
Preferred stock		74
Series B Preferred Stock [Member]
Stockholders' Equity:
Preferred stock		$ 103

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Amortized costs of fixed maturities (in dollars)	$ 21,573,519	$ 29,024,083
Preferred stock, shares authorized	10,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	22,860,701	22,558,956
Common stock, shares outstanding	22,860,701	22,558,956
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, liquidation preference per share	$ 6	$ 6
Preferred stock, shares authorized	0	2,000,000
Preferred stock, shares issued	0	74,159
Preferred stock, shares outstanding	0	74,159
Series B Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, liquidation preference per share	$ 6	$ 6
Preferred stock, shares authorized	0	1,000,000
Preferred stock, shares issued	0	102,669
Preferred stock, shares outstanding	0	102,669

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income:
Premiums	$ 2,972,870	$ 3,517,458
Investment income, net of expenses	949,415	878,991
Loss on equity method investment		(420,720)
Net realized gains on investments	47,290	31,504
Extinguishment of Hot Dot payable	486,361
Miscellaneous income	82,235	107,015
Total Income	4,538,171	4,114,248
Expenses:
Death and other benefits	897,839	803,091
Interest credited	748,918	776,541
Increase in benefit reserves	698,018	751,743
Amortization of deferred acquisition costs	404,110	367,235
Salaries and benefits	2,143,449	2,175,519
Goodwill impairment		1,129,824
Other operating expenses	2,365,361	3,284,743
Total Expenses	7,257,695	9,288,696
Operating Loss	(2,719,524)	(5,174,448)
Bargain purchase gain for business acquisition		1,326,526
Loss before income taxes	(2,719,524)	(3,847,922)
Income tax expense
Net loss	(2,719,524)	(3,847,922)
Comprehensive income (loss):
Unrealized income (losses) on investments arising during period	750,678	(212,574)
Less: reclassification adjustment for net realized gains on investments	(47,290)	(31,504)
Other comprehensive income (loss)	703,388	(244,078)
Comprehensive loss	$ (2,016,136)	$ (4,092,000)
Net loss per common share, basic and diluted	$ (.12)	$ (0.18)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2015	$ 177	$ 18,006	$ 31,584,529	$ (23,685,525)	$ (1,013,213)	$ 6,903,974
Preferred stock dividend			(43,120)			(43,120)
Acquisition of Northstar Financial Corporation		4,553	2,401,321			2,405,874
Merger of First Wyoming Capital Corporation			(905,806)			(905,806)
Net loss				(3,847,922)		(3,847,922)
Other comprehensive loss					(244,078)	(244,078)
Balance at Dec. 31, 2016	$ 177	$ 22,559	$ 33,036,924	$ (27,533,447)	$ (1,257,291)	$ 4,268,922
Series B preferred stock converted to common stock	(103)	206	(103)
Series A preferred stock converted to common stock	(74)	96	(22)
Preferred stock dividend			$ (30,544)			$ (30,544)
Net loss				(2,719,524)		(2,719,524)
Other comprehensive loss					703,388	703,388
Balance at Dec. 31, 2017		$ 22,861	$ 33,006,255	$ (30,252,971)	$ (553,903)	$ 2,222,242

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities:
Net loss	$ (2,719,524)	$ (3,847,922)
Adjustments to arrive at cash provided by operating activities:
Net premium and discount on investments	177,926	213,055
Depreciation and amortization	288,030	381,582
Deferred acquisition costs capitalized	(333,939)	(178,419)
Amortization of deferred acquisition costs	404,110	367,235
Net realized gains on investments	(47,290)	(31,504)
Goodwill impairment		1,129,824
Bargain purchase gain for business acquired		(1,326,526)
Loss on equity method investment		420,720
Deferred coinsurance ceding commission	322,487
Write-down of DAC and VOBA from coinsurance transaction	1,523,431
Changes in operating assets and liabilities:
Amounts recoverable from reinsurers	(10,151,211)	508,601
Interest and dividends due and accrued	88,888	(47,263)
Due premiums	35,154	(30,916)
Policy liabilities	2,289,872	939,095
Other assets and liabilities	52,897	575,313
Extinguishment of Hot Dot payable	(486,361)
Net cash used for operating activities	(8,555,530)	(927,125)
Securities available for sale:
Purchases	(26,266,795)	(19,213,405)
Proceeds from sale or maturity	33,586,723	14,387,936
Securities held for sale:
Proceeds from sale or maturity		52,703
Net change in equity securities carried at cost:
Proceeds from sale		30,250
Sale of Capital Reserve Life Insurance Company		1,432,446
Acquisition of Northstar Financial Corporation		2,427,394
Net change in policy loans	(22,613)	8,192
Net purchases of property and equipment	(32,567)	(33,180)
Net cash provided by (used for) investing activities	7,264,748	(907,664)
Cash Flows from Financing Activities:
Preferred stock dividend	(30,544)	(43,120)
Receipts on deposit-type contracts	2,511,106	2,433,781
Withdrawals on deposit-type contracts	(899,798)	(1,086,663)
Net cash provided by financing activities	1,580,764	1,303,998
Net increase (decrease) in cash and cash equivalents	289,982	(530,791)
Cash and cash equivalents:
Beginning	661,545	1,192,336
Ending	951,527	661,545
Supplemental Disclosure of Non-Cash Information
Converted Series A and B Preferred Stock	(177)
Common Stock issues from Converted A and B Preferred Stock	177
Measurement period adjustment on the First Wyoming acquisition		(905,806)
Common stock issued on Northstar Acquisition		2,405,874
Total		$ 1,500,068

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	Note 1. Nature of Operations and Summary of Significant Accounting Policies Nature of operations: Midwest Holding Inc. (“Midwest” or “the Company”) was incorporated in Nebraska on October 31, 2003 for the primary purpose of operating a financial services company. The Company is in the life insurance business and operates through its wholly owned subsidiary, American Life & Security Corp. (“American Life”). The Company has made several acquisitions of life insurance companies and related entities since 2008, all of which have been merged into the Company or into American Life. Basis of presentation: The accompanying consolidated financial statements include the accounts of Midwest and/or our wholly owned subsidiary American Life. Hereafter, entities are collectively referred to as the “Company,” “we,” “our” or “us.” Management evaluates the Company as one reporting segment in the life insurance industry. The Company is primarily engaged in the underwriting and marketing of life insurance products through American Life. The product offerings, the underwriting processes, and the marketing processes are similar. The Company’s product offerings consist of a multi-benefit life insurance policy that combines cash value life insurance with a tax deferred annuity and a single premium term life product. These product offerings are underwritten, marketed, and managed as a group of similar products on an overall portfolio basis. These consolidated financial statements have been prepared in conformity with Generally Accepted Accounting Principles (“GAAP”) in the United States of America. All intercompany accounts and transactions have been eliminated in consolidation and certain immaterial reclassifications have been made to the prior period results to conform to the current period’s presentation with no impact on results of operations or total stockholders’ equity. Investments: All fixed maturities and a portion of the equity securities owned by the Company are considered available-for-sale and are included in the consolidated financial statements at their fair value as of the financial statement date. Bond premiums and discounts are amortized using the scientific-yield method over the term of the bonds. Realized gains and losses on securities sold during the year are determined using the specific identification method. Unrealized holding gains and losses, net of applicable income taxes, are included in comprehensive loss. Declines in the fair value of available-for-sale securities below their amortized cost are evaluated to assess whether any other-than-temporary impairment loss should be recorded. In determining if these losses are expected to be other-than-temporary, the Company considers severity of impairment, duration of impairment, forecasted recovery period, industry outlook, the financial condition of the issuer, issuer credit ratings, and the intent and ability of the Company to hold the investment until the recovery of the cost. The recognition of other-than-temporary impairment losses on debt securities is dependent on the facts and circumstances related to the specific security. If the Company intends to sell a security or it is more likely than not that the Company would be required to sell a security prior to recovery of the amortized cost, the difference between amortized cost and fair value is recognized in the statement of comprehensive income as an other-than-temporary impairment. If the Company does not expect to recover the amortized basis, does not plan to sell the security and if it is not more likely than not that the Company would be required to sell a security before the recovery of its amortized cost, the recognition of the other-than-temporary impairment is bifurcated. The Company recognizes the credit loss portion in the income statement and the noncredit loss portion in accumulated other comprehensive loss. The credit component of an other-than-temporary impairment is determined by comparing the net present value of projected cash flows with the amortized cost basis of the debt security. The net present value is calculated by discounting the Company’s best estimate of projected future cash flows at the effective interest rate implicit in the fixed income security at the date of acquisition. Cash flow estimates are driven by assumptions regarding probability of default, including changes in credit ratings, and estimates regarding timing and amount of recoveries associated with a default. No other-than-temporary impairments were recognized during the years ended December 31, 2017 or 2016. Included within the Company’s equity securities carried at cost and equity method investments are certain privately placed common stocks for some development stage holding companies organized for the purpose of forming life insurance subsidiaries. Our privately placed common stocks are recorded using cost basis or the equity method of accounting, depending on the facts and circumstances of each investment. These securities do not have a readily determinable fair value. The Company does not control these entities economically, and therefore does not consolidate these entities. The Company reports the earnings from privately placed common stocks accounted for under the equity method in net investment income. Investment income consists of interest, dividends, gains and losses from equity method investments, and real estate income, which are recognized on an accrual basis and amortization of premiums and discounts. Policy loans: Policy loans are carried at unpaid principal balances. Interest income on policy loans is recognized in net investment income at the contract interest rate when earned. No valuation allowance is established for these policy loans as the amount of the loan is fully secured by the death benefit of the policy and cash surrender value. Short-term investments : Short-term investments are stated at cost and consist of certificates of deposit. At December 31, 2017 and 2016 the Company did not have any short-term investments. Real estate, held for investment: Real estate, held for investment is comprised of ten condominiums in Hawaii. Real estate is carried at depreciated cost. Depreciation on residential real estate is computed on a straight-line basis over 50 years. Cash: The Company considers all liquid investments with original maturities of three months or less when purchased to be cash equivalents. At December 31, 2017 and 2016, the Company had no cash equivalents. Deferred acquisition costs: Deferred acquisition costs consist of incremental direct costs, net of amounts ceded to reinsurers, that result directly from and are essential to the contract acquisition transaction and would not have been incurred by the Company had the contract acquisition not occurred, are capitalized, to the extent recoverable, and amortized over the life of the premiums produced. The Company evaluates the types of acquisition costs it capitalizes. The Company capitalizes agent compensation and benefits and other expenses that are directly related to the successful acquisition of contracts. The Company also capitalizes expenses directly related to activities performed by the Company, such as underwriting, policy issuance, and processing fees incurred in connection with successful contract acquisitions. Recoverability of deferred acquisition costs is evaluated periodically by comparing the current estimate of the present value of expected pretax future profits to the unamortized asset balance. If this current estimate is less than the existing balance, the difference is charged to expense. The Company performs a recoverability analysis annually in the fourth quarter unless events occur which require an immediate review. The Company eliminated the $437,620 of deferred acquisition costs (“DAC”) that were associated with the Great Plains Life block of business that was included in the Coinsurance Agreement between American Life and US Alliance effective September 30, 2017. The Company determined during its December 31, 2017 analysis that all deferred acquisition costs were recoverable. The following table provides information about deferred acquisition costs (“DAC”) for the years ended December 31, 2017 and 2016, respectively. Year Ended December 31, 2017 2016 Balance at beginning of period $ 2,568,799 $ 2,765,063 Capitalization of commissions, sales and issue expenses 333,940 178,419 Change in DAC due to unrealized investment losses (14,144 ) (7,448 ) Gross amortization (404,111 ) (367,235 ) Change in DAC due to coinsurance ceding commission (437,620 ) - Balance at end of period $ 2,046,864 $ 2,568,799 Value of business acquired: Value of business acquired (“VOBA”) represents the estimated value assigned to purchased companies or insurance in force of the assumed policy obligations at the date of acquisition of a block of policies. Recoverability of VOBA is evaluated periodically by comparing the current estimate of the present value of expected pretax future profits to the unamortized asset balance. If this current estimate is less than the existing balance, the difference is charged to expense. The Company performs a recoverability analysis annually in the fourth quarter unless events occur which require an immediate review. The Company eliminated the $1,085,811 of VOBA that was associated with the Great Plains Life and First Wyoming Life blocks of business that was included in the Coinsurance Agreement between American Life and US Alliance effective September 30, 2017. The Company determined during its December 31, 2017 and 2016 analysis that all VOBA was recoverable. Other Intangible Assets: Intangibles represent the state licenses that were recorded when Old Reliance was acquired by the Company. Intangibles are tested for impairment at least annually in the fourth quarter or more frequently if events or circumstances change that would indicate that a triggering event has occurred. The Company assesses the recoverability of indefinite-lived intangible assets at least annually or whenever events or circumstances suggest that the carrying value of an identifiable indefinite-lived intangible asset may exceed the sum of the future discounted cash flows expected to result from its use and eventual disposition. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset. The Company compared the carrying value of its identifiable indefinite-lived intangible assets to the sum of the future discounted cash flows. As of December 31, 2017 and 2016, the sum of the future discounted cash flows exceeded the carrying value of the indefinite-lived intangible assets. During our goodwill analysis in 2016, we determined that we were required to impair the entire balance of $1,129,824. The assumptions and estimates used to determine future values are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as changes in our business strategy and our revenue forecasts. Property and equipment: Property and equipment are stated at cost net of accumulated depreciation. Annual depreciation is primarily computed using straight-line methods for financial reporting and straight-line and accelerated methods for tax purposes. Furniture and equipment is depreciated over 3 to 7 years and computer software and equipment is generally depreciated over 3 years. Depreciation expense totaled $65,092 and $103,623 for the years ended December 31, 2017 and 2016, respectively. The accumulated depreciation net of disposals totaled $894,014 and $961,864 as of December 31, 2017 and 2016, respectively. Maintenance and repairs are expensed as incurred. Replacements and improvements which extend the useful life of the asset are capitalized. The net book value of assets sold or retired are removed from the accounts, and any resulting gain or loss is reflected in earnings. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized if the carrying amount of an asset may not be recoverable and exceeds estimated future undiscounted cash flows of the asset. A recognized impairment loss reduces the carrying amount of the asset to its fair value. The Company determined that no such events occurred that would indicate the carrying amounts may not be recoverable. Reinsurance: In the normal course of business, the Company seeks to limit aggregate and single exposure to losses on large risks by purchasing reinsurance. The amounts reported in the consolidated balance sheets as reinsurance recoverable include amounts billed to reinsurers on losses paid as well as estimates of amounts expected to be recovered from reinsurers on insurance liabilities that have not yet been paid. Reinsurance recoverable on unpaid losses are estimated based upon assumptions consistent with those used in establishing the liabilities related to the underlying reinsured contracts. Insurance liabilities are reported gross of reinsurance recoverable. Management believes the recoverables are appropriately established. The Company generally strives to diversify its credit risks related to reinsurance ceded. Reinsurance premiums are generally reflected in income in a manner consistent with the recognition of premiums on the reinsured contracts. Reinsurance does not extinguish the Company’s primary liability under the policies written. Therefore, the Company regularly evaluates the financial condition of its reinsurers including their activities with respect to claim settlement practices and commutations, and establishes allowances for uncollectible reinsurance recoverable as appropriate. There were no allowances as of December 31, 2017 or 2016. Benefit reserves: The Company establishes liabilities for amounts payable under insurance policies, including traditional life insurance and annuities. Generally, amounts are payable over an extended period of time. Liabilities for future policy benefits of traditional life insurance have been computed by a net level premium method based upon estimates at the time of issue for investment yields, mortality and withdrawals. These estimates include provisions for experience less favorable than initially expected. Mortality assumptions are based on industry experience expressed as a percentage of standard mortality tables. Policy claims: Policy claims are based on reported claims plus estimated incurred but not reported claims developed from trends of historical data applied to current exposure. Deposit-type contracts: Deposit-type contracts consist of amounts on deposit associated with deferred annuity riders, premium deposit funds and supplemental contracts without life contingencies. Income taxes: The Company is subject to income taxes in the U.S. federal and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no longer subject to U.S. federal, state or local tax examinations by tax authorities for the years before 2014. The provision for income taxes is based on income as reported in the financial statements. The income tax provision is calculated under the asset and liability method. Deferred tax assets are recorded based on the differences between the financial statement and tax basis of assets and liabilities at the enacted tax rates. The principal assets and liabilities giving rise to such differences are investments, insurance reserves, and deferred acquisition costs. A deferred tax asset valuation allowance is established when there is uncertainty that such assets would be realized. The Company has no uncertain tax positions that it believes are more-likely-than not that the benefit will not to be realized. When applicable, the Company recognizes interest accrued related to unrecognized tax benefits and penalties in income tax expense. The Company had no accruals for payments of interest and penalties at December 31, 2017 and 2016. Revenue recognition and related expenses: Revenues on traditional life insurance products consist of direct and assumed premiums reported as earned when due. Amounts received as payment for annuities and/or non-traditional contracts such as interest sensitive whole life contracts, single payment endowment contracts, single payment juvenile contracts and other contracts without life contingencies are recognized as deposits to policyholder account balances and included in future insurance policy benefits. Revenues from these contracts are comprised of fees earned for administrative and contract-holder services and cost of insurance, which are recognized over the period of the contracts, and included in revenue. Deposits are shown as a financing activity in the consolidated statements of cash flows. Amounts received under our multi-benefit policy form are allocated to the life insurance portion of the multi-benefit life insurance arrangement and the annuity portion based upon the signed policy. Liabilities for future policy benefits are provided and acquisition costs are amortized by associating benefits and expenses with earned premiums to recognize related profits over the life of the contracts. Acquisition costs are amortized over the life of the premiums produced. Traditional life insurance products are treated as long duration contracts, which generally remain in force for the lifetime of the insured. Comprehensive loss: Comprehensive loss is comprised of net loss and other comprehensive income (loss). Other comprehensive loss includes unrealized gains and losses from marketable securities classified as available-for-sale, net of applicable taxes. Common and preferred stock and earnings (loss) per share: The par value per common share is $0.001 with 120,000,000 voting common shares authorized, 20,000,000 non-voting common shares authorized, and 10,000,000 preferred shares authorized. At December 31, 2017 and 2016, the Company had 22,860,701 and 22,558,956 common shares issued and outstanding, respectively. At December 31, 2016, the Company had 1,179 warrants outstanding. The warrants were exercisable through December 31, 2016 for 10 shares of voting common stock at an exercise price of $6.50 per share. No warrants were exercised during 2016 and are now expired. The Class A preferred shares were non-cumulative, non-voting and convertible by the holder to voting common shares after May, 2015, at a rate of 1.3 common shares for each preferred share (subject to customary anti-dilution adjustments). The par value per preferred share is $0.001 with 2,000,000 shares authorized. At December 31, 2017 the 74,159 Class A preferred shares outstanding were converted to 96,407 voting common shares by the Company. The Class B preferred shares were non-cumulative, non-voting and convertible by the holder or the Company to voting common shares after May 1, 2017 at a rate of 2.0 common shares for each preferred share. The par value per preferred share was $0.001 with 1,000,000 shares authorized. The stated annual dividend rate on the Class B preferred shares was 7%. Dividends totaling $30,544 and $43,120 were paid as of June 30, 2017 and December 31, 2016, respectively. On June 15, 2017, the 102,669 outstanding Class B preferred shares were converted to 205,338 voting common shares by the Company. Earnings (loss) per share attributable to the Company’s common stockholders were computed based on the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the years ended December 31, 2017 and 2016 were 22,860,701 and 21,625,878 shares, respectively. Reclassification of certain prior period information: Reclassifications have been made on the Consolidated Statement of Comprehensive Income for the year ended December 31, 2016. These reclassifications do not impact the overall Net loss or Net loss per common share lines of the Consolidated Statement of Comprehensive Income for the year ended December 31, 2016. New accounting standards: In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326). Under the new guidance, this replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to perform credit loss estimates. This update changes the methodology from an incurred loss to an expected credit loss. An allowance for the expected credit loss will be set up and the net income will be impacted. The credit losses will be evaluated in the current period and an adjustment to the allowance can be made. The new standard becomes effective after December 15, 2019. We are currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The guidance in this ASU supersedes the leasing guidance in Topic 840, Leases. Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. We are currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements. In January 2016, the FASB issued ASU 2016-1, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This guidance changes how entities account for equity investments that do not result in consolidation and are not accounted for under the equity method of accounting. Entities will be required to measure these investments at fair value at the end of each reporting period and recognize changes in fair value in net income. A practicability exception will be available for equity investments that do not have readily determinable fair values; however; the exception requires the Company to adjust the carrying amount for impairment and observable price changes in orderly transactions for the identical or a similar investment of the same issuer. This guidance also changes certain disclosure requirements and other aspects of current GAAP. This guidance is effective for fiscal years beginning after December 15, 2017, and is applicable to the Company in fiscal 2018. The Company has determined that we currently have no equity securities that would be accounted for under ASU 2016-1 in 2018.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 2. Acquisitions and Divestitures On March 15, 2016, Midwest acquired Northstar Financial Corporation (“Northstar”), an inactive Minnesota corporation, pursuant to an Agreement and Plan of Merger dated December 18, 2015. Pursuant to this merger, Midwest exchanged 1.27 shares of its voting common stock for each share of Northstar common stock, or approximately 4,553,000 shares. The merger of Northstar was recorded as an asset acquisition. The assets (primarily cash) and liabilities of Northstar were recorded in the Company’s consolidated financial statements at their estimated fair values as of the acquisition date. On October 27, 2015, Midwest acquired 100% of all of the outstanding shares that it did not previously own of First Wyoming Capital Corporation (“First Wyoming”), a Wyoming corporation, pursuant to an Agreement and Plan of Merger dated July 31, 2015 under which First Wyoming became a wholly-owned subsidiary of Midwest. Pursuant to the Merger Agreement, Midwest issued approximately 4,767,400 shares to the former shareholders of First Wyoming other than Midwest. The fair value of the Midwest shares exchanged to acquire 100% of the remaining outstanding shares of First Wyoming that it did not previously own was estimated by applying the income approach to be $905,806, which is different from our preliminary estimate of $1,811,612 as disclosed in Note 2 to the Consolidated Financial Statements in our 2015 10-K. This fair value measurement was based on significant inputs that are not observable in the market. Key assumptions include projected total income growth of between 3% and 16%, expected long term growth of 3%, a discount rate of 16.0%, and a terminal value based on earnings and a capitalization rate of 13.0%. Subsequent to the closing, First Wyoming merged into Midwest and on September 1, 2016 First Wyoming Life, the life insurance subsidiary of First Wyoming, merged into American Life. The First Wyoming acquisition was accounted for under the acquisition method of accounting, which requires the consideration transferred and all assets and liabilities assumed to be recorded at fair value. Prior to the acquisition, Midwest held 22.1% of the outstanding shares of First Wyoming, which it had recorded in its financial statements under the equity method of accounting at a book value of $810,500 with a related accumulated other comprehensive loss of $30,410. The fair value of our previously held equity interest in First Wyoming was determined to be $221,430, resulting in a loss of $619,480 on the previously held equity interest. The preliminary fair value of our previously held equity interest in First Wyoming as disclosed in Note 2 to the Consolidated Financial Statements in our 2015 10-K was determined to be $642,150 resulting in a loss of $198,760, which was included in net investment income (loss) in the 2015 10-K consolidated statement of comprehensive income for the year ended December 31, 2015 and the remaining $420,720 was recognized in the period ended September 30, 2016 10-Q in loss on equity method investment on the consolidated statement of comprehensive income. The fair value of the previously held equity interest in First Wyoming was estimated by applying the income approach using significant inputs that are not observable in the market. Key assumptions include projected total income growth of between 3% and 13%, expected long term growth of 3%, a discount rate of 18.0%, a terminal value based on earnings and a capitalization rate of 13.0%, and adjustments due to lack of control that market participants would consider when estimating the fair value of the previously held equity interest in First Wyoming. The following table summarizes the fair value of the consideration transferred and the preliminary fair value of First Wyoming assets acquired and liabilities assumed: Fair value of common stock of Midwest issued as consideration $ 905,806 Fair value of Midwest’s previously held equity interest in First Wyoming 221,430 $ 1,127,236 Recognized amounts of identifiable assets acquired and liabilities assumed: Investment securities $ 3,961,937 Cash 315,546 VOBA 506,600 Other assets 92,045 Benefit reserves (611,110 ) Policy claims (41,754 ) Deposit-type contracts (799,990 ) Other liabilities (64,934 ) Total identifiable net assets 3,358,340 Bargain purchase gain (2,231,104 ) $ 1,127,236 All amounts related to the business combination are finalized and are no longer provisional. The transaction resulted in a bargain purchase gain of $2,231,104 and, of that amount, $904,578 was included in the bargain purchase gain for business acquisition line item in the consolidated statement of comprehensive income for the year ended December 31, 2015. The remaining $1,326,526 was included in the consolidated statement of comprehensive income for the period ended September 30, 2016. The bargain purchase gain was driven by the fact that as a standalone company, First Wyoming Life would have been required to significantly increase its administrative operations in Cheyenne, Wyoming, in the near future, the cost of which would be prohibitive to a small life insurance company such as First Wyoming Life. Value of business acquired (“VOBA”) was being amortized on a straight-line basis over ten years which approximates the earnings pattern of the related policies. On September 30, 2017, American Life entered into a coinsurance agreement with US Alliance to cede 100% of the First Wyoming Life block of business. The VOBA associated with that block of business was written off at the date of the transaction. On August 29, 2016, American Life sold its interest in its dormant subsidiary, Capital Reserve Life Insurance Company (“Capital Reserve”) to an unrelated third party for cash which approximated the statutory surplus of Capital Reserve, resulting in a net gain of approximately $26,000 including $50,000 cash above book value and unrealized gains on the fair market value of bonds becoming realized at the date of sale of $17,000 offset by the write-off of the VOBA of $40,714. This gain was included in the net realized gain (loss) on investments on the consolidated statement of comprehensive income.

Investments

Investments	12 Months Ended
	Dec. 31, 2017
Marketable Securities [Abstract]
Investments	Note 3. Investments The amortized cost and estimated fair value of investments classified as available-for-sale as of December 31, 2017 and 2016 are as follows: Cost or Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value December 31, 2017: Fixed maturities: U.S. government obligations $ 2,132,441 $ - $ 102,343 $ 2,030,098 Mortgage-back securities 1,365,684 - 47,103 1,318,581 States and political subdivisions -- general obligations 269,884 1,123 1,020 269,987 States and political subdivisions -- special revenue 25,347 38 - 25,385 Corporate 17,780,163 44,037 462,344 17,361,856 Total fixed maturities $ 21,573,519 $ 45,198 $ 612,810 $ 21,005,907 December 31, 2016: Fixed maturities: U.S. government obligations $ 3,390,545 $ - $ 166,326 $ 3,224,219 States and political subdivisions -- general obligations 383,730 732 3,067 381,395 States and political subdivisions -- special revenue 275,262 5,633 3,160 277,735 Corporate 24,974,546 16,232 1,135,188 23,855,590 Total fixed maturities $ 29,024,083 $ 22,597 $ 1,307,741 $ 27,738,939 The Company had two securities that individually exceed 10% of the total of the state and political subdivisions categories as of December 31, 2017. The amortized cost, fair value, credit rating, and description of each such security is as follows: Amortized Estimated Cost Fair Value Credit Rating December 31, 2017: Fixed maturities: States and political subdivisions -- general obligations Bellingham Wash $ 109,937 $ 108,917 AA+ Longview Washington Refunding 159,947 161,070 Aa3 Total $ 269,884 $ 269,987 The following table summarizes, for all securities in an unrealized loss position at December 31, 2017 and 2016, the estimated fair value, pre-tax gross unrealized loss and number of securities by length of time that those securities have been continuously in an unrealized loss position. December 31, 2017 December 31, 2016 Gross Number Gross Number Estimated Unrealized of Estimated Unrealized of Fair Value Loss Securities (1) Fair Value Loss Securities (1) Fixed Maturities: Less than 12 months: U.S. government obligations $ 262,662 $ 13,877 2 $ 3,224,219 $ 166,326 17 Mortgage-back securities 1,318,581 47,103 19 - - - States and political subdivisions -- general obligations 108,917 1,020 1 271,093 3,066 2 States and political subdivisions -- special revenue - - - 171,711 3,160 2 Corporate 7,511,874 133,061 35 19,737,965 935,546 112 Greater than 12 months: U.S. government obligations 1,767,435 88,466 10 - - - Corporate 7,144,231 329,283 42 2,558,275 199,643 12 Total fixed maturities $ 18,113,700 $ 612,810 109 $ 25,963,263 $ 1,307,741 145 Based on our review of the securities in an unrealized loss position at December 31, 2017 and 2016, no other-than-temporary impairments were deemed necessary. The Company has one bond related to non-investment grade, Diamond Offshore Drilling, Inc., which had an unrealized loss of $47,206 and the end of 2017. The remaining unrealized loss of $520,406 was related to investment grade bonds. Management believes that the Company will fully recover its cost basis in the securities held at December 31, 2017, and management does not have the intent to sell nor is it more likely than not that the Company will be required to sell such securities until they recover or mature. The temporary impairments shown herein are primarily the result of the current interest rate environment rather than credit factors that would imply other-than-temporary impairment. The amortized cost and estimated fair value of fixed maturities at December 31, 2017, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Estimated Cost Fair Value Due in one year or less $ 201,090 $ 199,118 Due after one year through five years 1,142,934 1,109,439 Due after five years through ten years 6,867,623 6,647,567 Due after ten years 13,361,872 13,049,783 $ 21,573,519 $ 21,005,907 The Company is required to hold assets on deposit for the benefit of policyholders in accordance with statutory rules and regulations. At December 31, 2017 and 2016, these required deposits had a total amortized cost of $3,287,932 and $2,747,571 and fair values of $3,167,727 and $2,635,225, respectively. The components of net investment income for the years ended December 31, 2017 and 2016 are as follows: Year Ended December 2017 2016 Fixed maturities $ 951,077 $ 889,860 Other 63,380 60,283 1,014,457 950,143 Less investment expenses (65,042 ) (71,152 ) Investment income, net of expenses $ 949,415 $ 878,991 Proceeds for the years ended December 31, 2017 and 2016 from sales of investments classified as available-for-sale were $33,586,723 and $14,179,936, respectively. Gross gains of $199,743 and $178,104 and gross losses of $152,453 and $54,610 were realized on those sales during the years ended December 31, 2017 and 2016, respectively.

Fair Values of Financial Instru

Fair Values of Financial Instruments	12 Months Ended
	Dec. 31, 2017
Investments, All Other Investments [Abstract]
Fair Values of Financial Instruments	Note 4. Fair Values of Financial Instruments Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. We use valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, accounting standards establish a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. ● Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. ● Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the valuation inputs, or their ability to be observed, may result in a reclassification for certain financial assets or liabilities. Reclassifications impacting Level 3 of the fair value hierarchy are reported as transfers in/out of the Level 3 category as of the beginning of the period in which the reclassifications occur. A description of the valuation methodologies used for assets measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Fixed maturities: Fixed maturities are recorded at fair value on a recurring basis utilizing a third-party pricing source. The valuations are reviewed and validated quarterly through random testing by comparisons to separate pricing models or other third party pricing services. For the period ended December 31, 2017, there were no material changes to the valuation methods or assumptions used to determine fair values, and no broker or third party prices were changed from the values received. Securities with prices based on validated quotes from pricing services are reflected within Level 2. Cash: The carrying value of cash and cash equivalents and short-term investments approximate the fair value because of the short maturity of the instruments. Policy loans: Policy loans are stated at unpaid principal balances. As these loans are fully collateralized by the cash surrender value of the underlying insurance policies, the carrying value of the policy loans approximates their fair value. Policy loans are categorized as Level 3 in the fair value hierarchy. Deposit-type contracts: The fair value for direct and assumed liabilities under deposit-type insurance contracts (accumulation annuities) is calculated using a discounted cash flow approach. Cash flows are projected using actuarial assumptions and discounted to the valuation date using risk-free rates adjusted for credit risk and nonperformance risk of the liabilities. The fair values for insurance contracts other than deposit-type contracts are not required to be disclosed. These liabilities are categorized as Level 3 in the fair value hierarchy. Surplus notes: The fair value for surplus notes is calculated using a discounted cash flow approach. Cash flows are projected utilizing scheduled repayments and discounted to the valuation date using market rates currently available for debt with similar remaining maturities. These notes are structured such that all interest is paid at maturity. In the following fair value measurement tables, the Company has included accrued interest expense of approximately $293,922 and $261,971 The following table presents the Company’s fair value hierarchy for those financial instruments measured at fair value on a recurring basis as of December 31, 2017 and 2016. Significant Quoted Other Significant Markets Inputs Inputs Fair (Level 1) (Level 2) (Level 3) Value December 31, 2017 Fixed maturities: U.S. government obligations $ - $ 2,030,098 $ - $ 2,030,098 Mortgage-back securities - 1,318,581 - 1,318,581 States and political subdivisions — general obligations - 269,987 - 269,987 States and political subdivisions — special revenue - 25,385 - 25,385 Corporate - 17,361,856 - 17,361,856 Total fixed maturities $ - $ 21,005,907 $ - $ 21,005,907 December 31, 2016 Fixed maturities: U.S. government obligations $ - $ 3,224,219 $ - $ 3,224,219 States and political subdivisions — general obligations - 381,395 - 381,395 States and political subdivisions — special revenue - 277,735 - 277,735 Corporate - 23,855,590 - 23,855,590 Total fixed maturities $ - $ 27,738,939 $ - $ There were no transfers of financial instruments between Level 1 and Level 2 during the years ended December 31, 2017 or 2016. Accounting standards require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring basis are discussed above. There were no financial assets or financial liabilities measured at fair value on a non-recurring basis. The following disclosure contains the carrying values, estimated fair values and their corresponding placement in the fair value hierarchy, for financial assets and financial liabilities as of December 31, 2017 and 2016, respectively: December 31, 2017 Fair Value Measurements Using Quoted Prices in Active Markets Significant Other Significant for Identical Assets Observable Unobservable Carrying and Liabilities Inputs Inputs Fair Amount (Level 1) (Level 2) (Level 3) Value Assets: Policy loans $ 435,196 $ - $ - $ 435,196 $ 435,196 Cash 951,527 951,527 - - 951,527 Liabilities: Policyholder deposits (Deposit-type contracts) 18,421,055 - - 18,421,055 18,421,055 Surplus notes and accrued interest payable 843,922 - - 843,922 843,922 December 31, 2016 Fair Value Measurements Using Quoted Prices in Active Markets Significant Other Significant for Identical Assets Observable Unobservable Carrying and Liabilities Inputs Inputs Fair Amount (Level 1) (Level 2) (Level 3) Value Assets: Policy loans $ 412,583 $ - $ - $ 412,583 $ 412,583 Cash 661,545 661,545 - - 661,545 Liabilities: Policyholder deposits (Deposit-type contracts) 16,012,567 - - 16,012,567 16,012,567 Surplus notes and accrued interest payable 811,971 - - 808,602 808,602

Income Tax Matters

Income Tax Matters	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Matters	Note 5. Income Tax Matters Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows: December 31, 2017 December 31, 2016 Deferred tax assets: Loss carryforwards $ 9,243,612 $ 9,705,974 Capitalized costs 513,280 667,264 Unrealized losses on investments 199,878 436,949 Benefit reserves 957,292 984,640 Total deferred tax assets 10,914,062 Less valuation allowance (9,881,372 ) (10,170,638 ) Total deferred tax assets, net of valuation allowance 1,032,690 1,624,189 Deferred tax liabilities: Policy acquisition costs 426,696 571,148 Due premiums 216,184 228,136 Value of business acquired 145,334 586,905 Intangible assets 238,000 238,000 Property and equipment 6,476 - Total deferred tax liabilities 1,032,690 1,624,189 Net deferred tax assets $ - $ - At December 31, 2017 and 2016, the Company recorded a valuation allowance of 9,881,372 and $10,170,638, respectively, on the deferred tax assets to reduce the total to an amount that management believes will ultimately be realized. Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry forwards are expected to be available to reduce taxable income. Loss carry forwards for tax purposes as of December 31, 2017, have expiration dates that range from 2024 through 2037. There was no income tax expense for the years ended December 31, 2017 and 2016. This differed from the amounts computed by applying the statutory U.S. federal income tax rate of 34% to pretax income, as a result of the following: Year Ended December 31, 2017 2016 Computed expected income tax benefit $ (924,638 ) $ ) Increase (reduction) in income taxes resulting from: Bargain purchase gain - (451,019 ) Meals, entertainment and political contributions 15,288 18,956 Goodwill impairment - 384,140 Adjustment to Prior Year NOL 959,800 - Other 1,745 (53,722 ) 976,833 (101,645 ) Tax benefit before valuation allowance 52,195 (1,409,938 ) Change in valuation allowance (52,195 ) 1,409,938 Net income tax expenses $ - $ -

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2017
Reinsurance Disclosures [Abstract]
Reinsurance	Note 6. Reinsurance A summary of significant reinsurance amounts affecting the accompanying consolidated financial statements as of December 31, 2017 and 2016 and for the years ended December 31, 2017 and 2016 is as follows: December 31, 2017 December 31, 2016 Balance sheets: Benefit and claim reserves assumed $ 2,638,477 $ 2,470,063 Benefit and claim reserves ceded 21,855,266 11,704,055 Year Ended December 31, 2017 2016 Statements of comprehensive income: Premiums assumed $ 22,591 $ 24,064 Premiums ceded 532,043 287,780 Benefits assumed 58,689 43,602 Benefits ceded 230,997 696,159 Commissions assumed 30 35 Commissions ceded 1,616 1,649 The following table provides a summary of the significant reinsurance balances recoverable on paid and unpaid policy claims by reinsurer along with the A.M. Best credit rating as of December 31, 2017: Recoverable on Total Amount Recoverable Recoverable Benefit Ceded Recoverable AM Best on Paid on Unpaid Reserves/Deposit- Due/Advance from Reinsurer Rating Losses Losses type Contracts Premiums Reinsurer Optimum Re Insurance Company A- $ - $ 12,388 $ 95,980 $ - $ 108,368 Sagicor Life Insurance Company A- - 283,372 12,284,719 247,396 12,320,695 US Alliance Life and Security Company NR - 12,719 9,475,917 62,433 9,426,203 $ - $ 308,479 $ 21,856,616 $ 309,829 $ 21,855,266 Effective September 30, 2017, American Life entered into an indemnity coinsurance transaction with US Alliance to transfer 100% of the risk related to the Great Plains Life and First Wyoming Life blocks of business. The purpose of this transaction was to provide statutory capital and surplus for American Life and has minimal effect on GAAP financials. We paid no commissions or brokerage fees for this transaction and the proceeds of the transaction were based upon valuations prepared by our third party actuary. American Life had more than one offer to assume this business. Under the indemnity coinsurance, US Alliance assumed certain liabilities and obligations. As we are not relieved of our legal liability to the policyholders; the liabilities and obligations associated with the reinsured blocks of business remain on our Consolidated Balance Sheets with a corresponding reinsurance receivable from US Alliance, which totaled $8,928,223 as of September 30, 2017. We transferred $9,629,623 of GAAP net adjusted reserves to US Alliance for cash of $7,078,223 which was net of a ceding allowance of $1,850,000 which is treated as an increase to surplus on a statutory basis. As a result of the transaction, in addition to the reserves, American Life will cede approximately $883,000 of annual GAAP revenues and $1,758,250 of statutory revenues. US Alliance assumes all responsibilities for incurred claims, surrenders and commission from the effective date. The ceding commission of $1,850,000 first reduced DAC of $437,620 and VOBA of $1,085,811 which had been held on our books from the Great Plains Life and First Wyoming Life acquisitions. The remaining $326,569 has been reflected as a deferred gain, which will be recognized into income over the expected duration of the Great Plains Life and First Wyoming Life blocks of business. At December 31, 2017 and 2016, total benefit reserves, policy claims, deposit-type contracts, and due premiums ceded by American Life to Sagicor were $12,320,695 and $11,446,342, respectively. At December 31, 2017, total benefit reserves, policy claims, deposit-type contracts, and due premiums ceded by American Life to US Alliance was $9,426,203. American Life remains contingently liable on the ceded reinsurance should Sagicor or US Alliance be unable to meet their obligations. The use of reinsurance does not relieve American Life of its primary liability to pay the full amount of the insurance benefit in the event of the failure of a reinsurer to honor its contractual obligation. No reinsurer of business ceded by American Life has failed to pay policy claims (individually or in the aggregate) with respect to our ceded business. American Life monitors several factors that it considers relevant to satisfy itself as to the ongoing ability of a reinsurer to meet all obligations of the reinsurance agreements. These factors include the credit rating of the reinsurer, the financial strength of the reinsurer, significant changes or events of the reinsurer, and any other relevant factors. If the Company believes that any reinsurer would not be able to satisfy its obligations with the Company, a separate contingency reserve may be established. At December 31, 2017 and 2016, no contingency reserve was established.

Deposit-Type Contracts

Deposit-Type Contracts	12 Months Ended
	Dec. 31, 2017
Separate Accounts Disclosure [Abstract]
Deposit-Type Contracts	Note 7. Deposit-Type Contracts The Company’s deposit-type contracts represent the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. Liabilities for these deposit-type contracts are included without reduction for potential surrender charges. This liability is equal to the accumulated account deposits, plus interest credited, and less policyholder withdrawals. The following table provides information about deposit-type contracts for the years ended December 31, 2017 and 2016: Year Ended December 31, 2017 2016 Beginning balance $ 16,012,567 $ 13,897,421 Deposits received 2,511,107 2,433,781 Investment earnings 808,085 776,541 Withdrawals (899,799 ) (1,086,661 ) Contract Charges (10,905 ) (8,515 ) Ending balance $ 18,421,055 $ Under the terms of American Life’s coinsurance agreement with Security National Life Insurance Company (“SNL”), American Life assumes certain deposit-type contract obligations, as shown in the table above. The remaining deposits, withdrawals and interest credited represent those for American Life’s direct business.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Legal Proceedings: We are involved in litigation incidental to our operations from time to time. We are not presently a party to any legal proceedings other than litigation arising in the ordinary course of our business, and we are not aware of any claims that could materially affect our financial position or results of operations. Regulatory Matters: State regulatory bodies, the SEC, and other regulatory bodies regularly make inquiries and conduct examinations or investigations concerning the Company’s compliance with laws in relation to, but not limited to, insurance and securities. The issues involved in information requests and regulatory matters vary widely. The Company cooperates in these inquiries. The Nebraska Department of Insurance completed its exam for the periods 2013 through 2016 on American Life. Office Lease: The Company leases office space in Lincoln, Nebraska under an agreement executed October 17, 2013 that expires on January 31, 2024. The Company executed an amendment to the above lease for the additional 2,876 square feet of office space in Suite 450 on October 23, 2015, which expired on May 31, 2017. Great Plains entered into a lease on October 4, 2013 for office space in Mitchell, South Dakota, which expired on November 30, 2016. First Wyoming leased space in Cheyenne, Wyoming, which expired on August 31, 2016. Rent expense for the years ended December 31, 2017 and 2016 was $219,357 and $341,424, respectively. Future minimum payments are as follows: 2018 $ 136,557 2019 141,412 2020 146,477 2021 151,543 2022 156,608 Later years 175,182 Total $ 907,779

Statutory Net Income and Surplu

Statutory Net Income and Surplus	12 Months Ended
	Dec. 31, 2017
Statutory Net Income and Surplus [Abstract]
Statutory Net Income and Surplus	Note 9. Statutory Net Income and Surplus American Life is required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the Nebraska Department of Insurance. Statutory practices primarily differ from GAAP by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions as well as valuing investments and certain assets and accounting for deferred taxes on a different basis. First Wyoming Life and Great Plains Life merged into American Life as of September 1, 2016 and December 31, 2016, respectively. Capital Reserve was sold effective August 29, 2016. Effective September 30, 2017, American Life entered into a coinsurance agreement with US Alliance to cede 100% of the First Wyoming Life’s and Great Plains Life’s blocks of business. The fourth quarter premiums and benefits were not included in the December 31, 2017 net loss. American Life’s statutory net loss for the year ended December 31, 2017 and 2016 was $2,084,690 and $1,979,009, respectively. Capital and surplus of American Life as of December 31, 2017 and 2016 was $2,962,885 and $3,817,844, respectively.

Surplus Notes

Surplus Notes	12 Months Ended
	Dec. 31, 2017
Surplus Notes [Abstract]
Surplus Notes	Note 10. Surplus Notes The following provides a summary of the American Life’s surplus notes along with issue dates, maturity dates, face amounts, and interest rates as of December 31, 2017: Creditor Issue Date Maturity Date Face Amount Interest Rate David G. Elmore September 12, 2006 September 1, 2016 $ 7 % David G. Elmore August 4, 2011 August 1, 2016 300,000 5 % Any payments and/or repayments must be approved by the Nebraska Department of Insurance. As of December 31, 2017, the Company has accrued $293,922 of interest expense under accounts payable and accrued expenses on the consolidated balance sheet. No payments were made in the years ended December 31, 2017 and 2016. The surplus notes for $300,000 and $250,000 matured on August 1, 2016 and September 1, 2016, respectively. Due to the nature of surplus notes, a repayment cannot be made without the prior approval of the Nebraska insurance regulators.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 11. Related Party Transactions The Company commenced its third party administrative (“TPA”) services in 2012 as an additional revenue source. These services are offered to non-consolidated entities. These agreements, for various levels of administrative services on behalf of each company, generate fee income for the Company. Services provided vary based on their needs and can include some or all aspects of back-office accounting and policy administration. We have been able to perform our TPA services using our existing in-house resources. Fees earned during the years ended December 31, 2017 and 2016 amounted to $71,680 and $63,500, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events All of the effects of subsequent events that provide additional evidence about conditions that existed at December 31, 2017, including the estimates inherent in the process of preparing consolidated financial statements, are recognized in the consolidated financial statements. The Company does not recognize subsequent events that provide evidence about conditions that did not exist at the date of the consolidated financial statements but arose after, but before the consolidated financial statements were available to be issued. In some cases, non-recognized subsequent events are disclosed to keep the consolidated financial statements from being misleading

Schedule I Summary of Investmen

Schedule I Summary of Investments - Other Than Investments in Related Parties	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Summary of Investments - Other Than Investments in Related Parties	Midwest Holding Inc. and Subsidiaries Summary of Investments — Other Than Investments in Related Parties December 31, 2017 Amount Recognized in Amortized Consolidated Cost Fair Value Balance Sheets Type of Investment Fixed maturity securities, available for sale: U.S. government obligations $ 2,132,441 $ 2,030,098 $ 2,030,098 Mortgage-back securities 1,365,684 1,318,581 1,318,581 States and political subdivisions -- general obligations 269,884 269,987 269,987 States and political subdivisions -- special revenue 25,347 25,385 25,385 Corporate 17,780,163 17,361,856 17,361,856 Total fixed maturity securities $ 21,573,519 $ 21,005,907 $ 21,005,907 Real estate, held for investment 505,688 505,688 Policy loans 435,196 435,196 Total Investments $ 22,514,403 $ 21,946,791

Schedule II Condensed Financial

Schedule II Condensed Financial Information of Registrant Balance Sheets	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Financial Information of Registrant Balance Sheets	Midwest Holding Inc. (Parent Company) Condensed Financial Information of Registrant Balance Sheets As of December 31, 2017 2016 Assets: Investment in subsidiaries (1) $ 2,211,630 $ 4,424,693 Equity securities, at cost - - Total investments 2,211,630 4,424,693 Cash and cash equivalents 4,756 112,563 Property and equipment, net 42,587 78,790 Other assets 38,321 153,502 Total assets $ 2,297,294 $ 4,769,548 Liabilities and Stockholders' Equity Liabilities: Accounts payable and accrued expenses 75,052 500,626 Total liabilities 75,052 500,626 Stockholders' Equity: Preferred stock, Series A - 74 Preferred stock, Series B - 103 Common stock 22,861 22,559 Additional paid-in capital 33,006,255 33,036,924 Accumulated deficit (30,252,971 ) (27,533,447 ) Accumulated other comprehensive loss (553,903 ) (1,257,291 ) Total Midwest Holding Inc.'s stockholders' equity 2,222,242 4,268,922 Total liabilities and stockholders' equity $ 2,297,294 $ 4,769,548 (1) Eliminated in consolidation.

Schedule II Condensed Financi21

Schedule II Condensed Financial Information of Registrant Statements of Comprehensive Income	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Financial Information of Registrant Statements of Comprehensive Income	Midwest Holding Inc. (Parent Company) Condensed Financial Information of Registrant Statements of Comprehensive Income As of December 31, 2017 2016 Income: Investment loss, net of expenses $ (6,776 ) $ (5,635 ) Net realized loss on investments - (117,500 ) Loss on equity method investment - (420,720 ) Extinguishment of Hot Dot payable 486,361 - Miscellaneous income 126,680 515,667 606,265 (28,188 ) Expenses: General 409,338 2,054,032 Loss before income tax expense 196,927 (2,082,220 ) Income tax expense - - Loss before equity in loss of consolidated subsidiaries 196,927 (2,082,220 ) Equity in loss of consolidated subsidiaries (2,916,451 ) (3,092,228 ) Bargain purchase gain for business acquisition - 1,326,526 Net loss $ (2,719,524 ) $ (3,847,922 ) Comprehensive Income (loss): Unrealized losses on investments arising during period 750,678 (212,574 ) Less: reclassification adjustment for net realized gains on investments (47,290 ) (31,504 ) Other comprehensive income (loss) 703,388 (244,078 ) Comprehensive loss $ (2,016,136 ) $ (4,092,000 )

Schedule II Condensed Financi22

Schedule II Condensed Financial Information of Registrant Statements of Cash Flows	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Financial Information of Registrant Statements of Cash Flows	Midwest Holding Inc. (Parent Company) Condensed Financial Information of Registrant Statements of Cash Flows Year Ended December 31, 2017 2016 Cash Flows from Operating Activities: Net loss $ (2,719,524 ) $ (3,847,922 ) Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: Equity in net loss of consolidated subsidiaries 2,916,451 2,972,023 Depreciation 30,512 31,931 Net realized gain on investments - 117,500 Bargain purchase gain for business acquired - (1,326,526 ) Equity in the net loss of unconsolidated subsidiaries - 420,720 Other assets and liabilities 175,968 (861,791 ) Extinguishment of Hot Dot payable (486,361 ) - Net cash used in operating activities (82,954 ) (2,494,065 ) Cash Flows from Investing Activities: Equity securities carried at cost: Proceeds from equity securities carried at cost - 30,250 Issuance of common stock acquisition of Northstar Financial - 2,427,394 Net disposals (purchases) of property and equipment 5,691 (20,318 ) Net cash provided by investing activities 5,691 2,437,326 Cash Flows from Financing Activities: Issuance of common stock - - Preferred stock dividend (30,544 ) (43,120 ) Net cash used by financing activities (30,544 ) (43,120 ) Net decrease in cash and cash equivalents (107,807 ) (99,859 ) Cash and cash equivalents: Beginning 112,563 212,422 Ending $ 4,756 $ 112,563 2017 2016 Supplemental Disclosure of Non-Cash Information Converted Series B Preferred Stock $ (177 ) $ - Common stock issues from Converted B Preferred Stock 177 - Common stock issued on the First Wyoming acquisition and measurement period adjustment - (905,806 ) Common stock issued on Northstar Acquisition - 2,405,874 $ - $ 1,500,068

Schedule III Supplementary Insu

Schedule III Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2017
Supplementary Insurance Information [Abstract]
Supplementary Insurance Information	Midwest Holding Inc. and Subsidiaries Supplementary Insurance Information As of December 31, 2017 For the Year Ended December 31, 2017 Future Policy Death and Amortization Deferred Benefits, Deferred Net Other Benefits of Deferred Policy Claims and Gain on Investment and Increase Policy Other Acquisition Deposit-type Advance Coinsurance Premium Income in Benefit Acquisition Operating Costs Contracts Premiums Transaction Revenue (Loss) Reserves Costs Expenses Life Insurance $ 2,046,864 $ 45,096,673 $ 40,839 $ 322,487 $ 2,972,870 $ 949,415 $ 2,344,775 $ 404,110 $ 4,508,810 As of December 31, 2016 For the Year Ended December 31, 2016 Future Policy Death and Amortization Deferred Benefits, Deferred Net Other Benefits of Deferred Policy Claims and Gain on Investment and Increase Policy Other Acquisition Deposit-type Advance Coinsurance Premium Income in Benefit Acquisition Operating Costs Contracts Premiums Transaction Revenue (Loss) Reserves Costs Expenses Life Insurance $ 2,568,799 $ 41,184,258 $ 52,074 $ - $ 3,517,458 $ 878,991 $ 2,331,375 $ 367,235 $ 6,590,086

Schedule IV Reinsurance Informa

Schedule IV Reinsurance Information	12 Months Ended
	Dec. 31, 2017
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]
Reinsurance Information	Midwest Holding Inc. and Subsidiaries Reinsurance Information Percentage Assumed of Amount Ceded to Other from Other Assumed to Gross Amount Companies Companies Net Amount Net Year ended December 31, 2017 Life insurance in force $ 219,023,000 $ 171,610,000 $ 3,998,000 $ 51,411,000 7.78 % Life insurance premiums $ 2,463,418 $ 532,043 $ 22,591 $ 2,972,870 0.76 % Year ended December 31, 2016 Life insurance in force $ 229,981,000 $ 110,670,000 $ 3,879,000 $ 123,190,000 3.15 % Life insurance premiums $ 3,253,742 $ 287,780 $ 24,064 $ 3,517,458 0.68 %

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2017
Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	Midwest Holding Inc. and Subsidiaries Valuation and Qualifying Accounts Year Ended December 31, 2017 2016 Accumulated Depreciation: Beginning of the year 961,864 864,526 Depreciation expense 65,092 103,623 Disposals (132,942 ) (6,285 ) End of the year $ 894,014 $ 961,864

Nature of Operations and Summ26

Nature of Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation: The accompanying consolidated financial statements include the accounts of Midwest and/or our wholly owned subsidiary American Life. Hereafter, entities are collectively referred to as the “Company,” “we,” “our” or “us.” Management evaluates the Company as one reporting segment in the life insurance industry. The Company is primarily engaged in the underwriting and marketing of life insurance products through American Life. The product offerings, the underwriting processes, and the marketing processes are similar. The Company’s product offerings consist of a multi-benefit life insurance policy that combines cash value life insurance with a tax deferred annuity and a single premium term life product. These product offerings are underwritten, marketed, and managed as a group of similar products on an overall portfolio basis. These consolidated financial statements have been prepared in conformity with Generally Accepted Accounting Principles (“GAAP”) in the United States of America. All intercompany accounts and transactions have been eliminated in consolidation and certain immaterial reclassifications have been made to the prior period results to conform to the current period’s presentation with no impact on results of operations or total stockholders’ equity.
Investments	Investments: All fixed maturities and a portion of the equity securities owned by the Company are considered available-for-sale and are included in the consolidated financial statements at their fair value as of the financial statement date. Bond premiums and discounts are amortized using the scientific-yield method over the term of the bonds. Realized gains and losses on securities sold during the year are determined using the specific identification method. Unrealized holding gains and losses, net of applicable income taxes, are included in comprehensive loss. Declines in the fair value of available-for-sale securities below their amortized cost are evaluated to assess whether any other-than-temporary impairment loss should be recorded. In determining if these losses are expected to be other-than-temporary, the Company considers severity of impairment, duration of impairment, forecasted recovery period, industry outlook, the financial condition of the issuer, issuer credit ratings, and the intent and ability of the Company to hold the investment until the recovery of the cost. The recognition of other-than-temporary impairment losses on debt securities is dependent on the facts and circumstances related to the specific security. If the Company intends to sell a security or it is more likely than not that the Company would be required to sell a security prior to recovery of the amortized cost, the difference between amortized cost and fair value is recognized in the statement of comprehensive income as an other-than-temporary impairment. If the Company does not expect to recover the amortized basis, does not plan to sell the security and if it is not more likely than not that the Company would be required to sell a security before the recovery of its amortized cost, the recognition of the other-than-temporary impairment is bifurcated. The Company recognizes the credit loss portion in the income statement and the noncredit loss portion in accumulated other comprehensive loss. The credit component of an other-than-temporary impairment is determined by comparing the net present value of projected cash flows with the amortized cost basis of the debt security. The net present value is calculated by discounting the Company’s best estimate of projected future cash flows at the effective interest rate implicit in the fixed income security at the date of acquisition. Cash flow estimates are driven by assumptions regarding probability of default, including changes in credit ratings, and estimates regarding timing and amount of recoveries associated with a default. No other-than-temporary impairments were recognized during the years ended December 31, 2017 or 2016. Included within the Company’s equity securities carried at cost and equity method investments are certain privately placed common stocks for some development stage holding companies organized for the purpose of forming life insurance subsidiaries. Our privately placed common stocks are recorded using cost basis or the equity method of accounting, depending on the facts and circumstances of each investment. These securities do not have a readily determinable fair value. The Company does not control these entities economically, and therefore does not consolidate these entities. The Company reports the earnings from privately placed common stocks accounted for under the equity method in net investment income. Investment income consists of interest, dividends, gains and losses from equity method investments, and real estate income, which are recognized on an accrual basis and amortization of premiums and discounts.
Policy loans	Policy loans: Policy loans are carried at unpaid principal balances. Interest income on policy loans is recognized in net investment income at the contract interest rate when earned. No valuation allowance is established for these policy loans as the amount of the loan is fully secured by the death benefit of the policy and cash surrender value.
Short-term investments	Short-term investments : Short-term investments are stated at cost and consist of certificates of deposit. At December 31, 2017 and 2016 the Company did not have any short-term investments.
Real estate, held for investment	Real estate, held for investment: Real estate, held for investment is comprised of ten condominiums in Hawaii. Real estate is carried at depreciated cost. Depreciation on residential real estate is computed on a straight-line basis over 50 years.
Cash	Cash: The Company considers all liquid investments with original maturities of three months or less when purchased to be cash equivalents. At December 31, 2017 and 2016, the Company had no cash equivalents.
Deferred acquisition costs	Deferred acquisition costs: Deferred acquisition costs consist of incremental direct costs, net of amounts ceded to reinsurers, that result directly from and are essential to the contract acquisition transaction and would not have been incurred by the Company had the contract acquisition not occurred, are capitalized, to the extent recoverable, and amortized over the life of the premiums produced. The Company evaluates the types of acquisition costs it capitalizes. The Company capitalizes agent compensation and benefits and other expenses that are directly related to the successful acquisition of contracts. The Company also capitalizes expenses directly related to activities performed by the Company, such as underwriting, policy issuance, and processing fees incurred in connection with successful contract acquisitions. Recoverability of deferred acquisition costs is evaluated periodically by comparing the current estimate of the present value of expected pretax future profits to the unamortized asset balance. If this current estimate is less than the existing balance, the difference is charged to expense. The Company performs a recoverability analysis annually in the fourth quarter unless events occur which require an immediate review. The Company eliminated the $437,620 of deferred acquisition costs (“DAC”) that were associated with the Great Plains Life block of business that was included in the Coinsurance Agreement between American Life and US Alliance effective September 30, 2017. The Company determined during its December 31, 2017 analysis that all deferred acquisition costs were recoverable. The following table provides information about deferred acquisition costs (“DAC”) for the years ended December 31, 2017 and 2016, respectively. Year Ended December 31, 2017 2016 Balance at beginning of period $ 2,568,799 $ 2,765,063 Capitalization of commissions, sales and issue expenses 333,940 178,419 Change in DAC due to unrealized investment losses (14,144 ) (7,448 ) Gross amortization (404,111 ) (367,235 ) Change in DAC due to coinsurance ceding commission (437,620 ) - Balance at end of period $ 2,046,864 $ 2,568,799
Value of business acquired	Value of business acquired: Value of business acquired (“VOBA”) represents the estimated value assigned to purchased companies or insurance in force of the assumed policy obligations at the date of acquisition of a block of policies. Recoverability of VOBA is evaluated periodically by comparing the current estimate of the present value of expected pretax future profits to the unamortized asset balance. If this current estimate is less than the existing balance, the difference is charged to expense. The Company performs a recoverability analysis annually in the fourth quarter unless events occur which require an immediate review. The Company eliminated the $1,085,811 of VOBA that was associated with the Great Plains Life and First Wyoming Life blocks of business that was included in the Coinsurance Agreement between American Life and US Alliance effective September 30, 2017. The Company determined during its December 31, 2017 and 2016 analysis that all VOBA was recoverable.
Other Intangible Assets	Other Intangible Assets: Intangibles represent the state licenses that were recorded when Old Reliance was acquired by the Company. Intangibles are tested for impairment at least annually in the fourth quarter or more frequently if events or circumstances change that would indicate that a triggering event has occurred. The Company assesses the recoverability of indefinite-lived intangible assets at least annually or whenever events or circumstances suggest that the carrying value of an identifiable indefinite-lived intangible asset may exceed the sum of the future discounted cash flows expected to result from its use and eventual disposition. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset. The Company compared the carrying value of its identifiable indefinite-lived intangible assets to the sum of the future discounted cash flows. As of December 31, 2017 and 2016, the sum of the future discounted cash flows exceeded the carrying value of the indefinite-lived intangible assets. During our goodwill analysis in 2016, we determined that we were required to impair the entire balance of $1,129,824. The assumptions and estimates used to determine future values are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as changes in our business strategy and our revenue forecasts.
Property and equipment	Property and equipment: Property and equipment are stated at cost net of accumulated depreciation. Annual depreciation is primarily computed using straight-line methods for financial reporting and straight-line and accelerated methods for tax purposes. Furniture and equipment is depreciated over 3 to 7 years and computer software and equipment is generally depreciated over 3 years. Depreciation expense totaled $65,092 and $103,623 for the years ended December 31, 2017 and 2016, respectively. The accumulated depreciation net of disposals totaled $894,014 and $961,864 as of December 31, 2017 and 2016, respectively. Maintenance and repairs are expensed as incurred. Replacements and improvements which extend the useful life of the asset are capitalized. The net book value of assets sold or retired are removed from the accounts, and any resulting gain or loss is reflected in earnings. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized if the carrying amount of an asset may not be recoverable and exceeds estimated future undiscounted cash flows of the asset. A recognized impairment loss reduces the carrying amount of the asset to its fair value. The Company determined that no such events occurred that would indicate the carrying amounts may not be recoverable.
Reinsurance	Reinsurance: In the normal course of business, the Company seeks to limit aggregate and single exposure to losses on large risks by purchasing reinsurance. The amounts reported in the consolidated balance sheets as reinsurance recoverable include amounts billed to reinsurers on losses paid as well as estimates of amounts expected to be recovered from reinsurers on insurance liabilities that have not yet been paid. Reinsurance recoverable on unpaid losses are estimated based upon assumptions consistent with those used in establishing the liabilities related to the underlying reinsured contracts. Insurance liabilities are reported gross of reinsurance recoverable. Management believes the recoverables are appropriately established. The Company generally strives to diversify its credit risks related to reinsurance ceded. Reinsurance premiums are generally reflected in income in a manner consistent with the recognition of premiums on the reinsured contracts. Reinsurance does not extinguish the Company’s primary liability under the policies written. Therefore, the Company regularly evaluates the financial condition of its reinsurers including their activities with respect to claim settlement practices and commutations, and establishes allowances for uncollectible reinsurance recoverable as appropriate. There were no allowances as of December 31, 2017 or 2016.
Benefit reserves	Benefit reserves: The Company establishes liabilities for amounts payable under insurance policies, including traditional life insurance and annuities. Generally, amounts are payable over an extended period of time. Liabilities for future policy benefits of traditional life insurance have been computed by a net level premium method based upon estimates at the time of issue for investment yields, mortality and withdrawals. These estimates include provisions for experience less favorable than initially expected. Mortality assumptions are based on industry experience expressed as a percentage of standard mortality tables.
Policy claims	Policy claims: Policy claims are based on reported claims plus estimated incurred but not reported claims developed from trends of historical data applied to current exposure.
Deposit-type contracts	Deposit-type contracts: Deposit-type contracts consist of amounts on deposit associated with deferred annuity riders, premium deposit funds and supplemental contracts without life contingencies.
Income taxes	Income taxes: The Company is subject to income taxes in the U.S. federal and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no longer subject to U.S. federal, state or local tax examinations by tax authorities for the years before 2014. The provision for income taxes is based on income as reported in the financial statements. The income tax provision is calculated under the asset and liability method. Deferred tax assets are recorded based on the differences between the financial statement and tax basis of assets and liabilities at the enacted tax rates. The principal assets and liabilities giving rise to such differences are investments, insurance reserves, and deferred acquisition costs. A deferred tax asset valuation allowance is established when there is uncertainty that such assets would be realized. The Company has no uncertain tax positions that it believes are more-likely-than not that the benefit will not to be realized. When applicable, the Company recognizes interest accrued related to unrecognized tax benefits and penalties in income tax expense. The Company had no accruals for payments of interest and penalties at December 31, 2017 and 2016.
Revenue recognition and related expenses	Revenue recognition and related expenses: Revenues on traditional life insurance products consist of direct and assumed premiums reported as earned when due. Amounts received as payment for annuities and/or non-traditional contracts such as interest sensitive whole life contracts, single payment endowment contracts, single payment juvenile contracts and other contracts without life contingencies are recognized as deposits to policyholder account balances and included in future insurance policy benefits. Revenues from these contracts are comprised of fees earned for administrative and contract-holder services and cost of insurance, which are recognized over the period of the contracts, and included in revenue. Deposits are shown as a financing activity in the consolidated statements of cash flows. Amounts received under our multi-benefit policy form are allocated to the life insurance portion of the multi-benefit life insurance arrangement and the annuity portion based upon the signed policy. Liabilities for future policy benefits are provided and acquisition costs are amortized by associating benefits and expenses with earned premiums to recognize related profits over the life of the contracts. Acquisition costs are amortized over the life of the premiums produced. Traditional life insurance products are treated as long duration contracts, which generally remain in force for the lifetime of the insured.
Comprehensive loss	Comprehensive loss: Comprehensive loss is comprised of net loss and other comprehensive income (loss). Other comprehensive loss includes unrealized gains and losses from marketable securities classified as available-for-sale, net of applicable taxes.
Common and preferred stock and earnings (loss) per share	Common and preferred stock and earnings (loss) per share: The par value per common share is $0.001 with 120,000,000 voting common shares authorized, 20,000,000 non-voting common shares authorized, and 10,000,000 preferred shares authorized. At December 31, 2017 and 2016, the Company had 22,860,701 and 22,558,956 common shares issued and outstanding, respectively. At December 31, 2016, the Company had 1,179 warrants outstanding. The warrants were exercisable through December 31, 2016 for 10 shares of voting common stock at an exercise price of $6.50 per share. No warrants were exercised during 2016 and are now expired. The Class A preferred shares were non-cumulative, non-voting and convertible by the holder to voting common shares after May, 2015, at a rate of 1.3 common shares for each preferred share (subject to customary anti-dilution adjustments). The par value per preferred share is $0.001 with 2,000,000 shares authorized. At December 31, 2017 the 74,159 Class A preferred shares outstanding were converted to 96,407 voting common shares by the Company. The Class B preferred shares were non-cumulative, non-voting and convertible by the holder or the Company to voting common shares after May 1, 2017 at a rate of 2.0 common shares for each preferred share. The par value per preferred share was $0.001 with 1,000,000 shares authorized. The stated annual dividend rate on the Class B preferred shares was 7%. Dividends totaling $30,544 and $43,120 were paid as of June 30, 2017 and December 31, 2016, respectively. On June 15, 2017, the 102,669 outstanding Class B preferred shares were converted to 205,338 voting common shares by the Company. Earnings (loss) per share attributable to the Company’s common stockholders were computed based on the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the years ended December 31, 2017 and 2016 were 22,860,701 and 21,625,878 shares, respectively.
Reclassification of certain prior period information	Reclassification of certain prior period information: Reclassifications have been made on the Consolidated Statement of Comprehensive Income for the year ended December 31, 2016. These reclassifications do not impact the overall Net loss or Net loss per common share lines of the Consolidated Statement of Comprehensive Income for the year ended December 31, 2016.
New accounting standards	New accounting standards: In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326). Under the new guidance, this replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to perform credit loss estimates. This update changes the methodology from an incurred loss to an expected credit loss. An allowance for the expected credit loss will be set up and the net income will be impacted. The credit losses will be evaluated in the current period and an adjustment to the allowance can be made. The new standard becomes effective after December 15, 2019. We are currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The guidance in this ASU supersedes the leasing guidance in Topic 840, Leases. Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. We are currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements. In January 2016, the FASB issued ASU 2016-1, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This guidance changes how entities account for equity investments that do not result in consolidation and are not accounted for under the equity method of accounting. Entities will be required to measure these investments at fair value at the end of each reporting period and recognize changes in fair value in net income. A practicability exception will be available for equity investments that do not have readily determinable fair values; however; the exception requires the Company to adjust the carrying amount for impairment and observable price changes in orderly transactions for the identical or a similar investment of the same issuer. This guidance also changes certain disclosure requirements and other aspects of current GAAP. This guidance is effective for fiscal years beginning after December 15, 2017, and is applicable to the Company in fiscal 2018. The Company has determined that we currently have no equity securities that would be accounted for under ASU 2016-1 in 2018.

Nature of Operations and Summ27

Nature of Operations and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of Deferred Policy Acquisition Costs	The following table provides information about deferred acquisition costs (“DAC”) for the years ended December 31, 2017 and 2016, respectively. Year Ended December 31, 2017 2016 Balance at beginning of period $ 2,568,799 $ 2,765,063 Capitalization of commissions, sales and issue expenses 333,940 178,419 Change in DAC due to unrealized investment losses (14,144 ) (7,448 ) Gross amortization (404,111 ) (367,235 ) Change in DAC due to coinsurance ceding commission (437,620 ) - Balance at end of period $ 2,046,864 $ 2,568,799

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of the consideration transferred and the preliminary fair value of First Wyoming assets acquired and liabilities assumed: Fair value of common stock of Midwest issued as consideration $ 905,806 Fair value of Midwest’s previously held equity interest in First Wyoming 221,430 $ 1,127,236
Schedule of Pro Forma Information	Recognized amounts of identifiable assets acquired and liabilities assumed: Investment securities $ 3,961,937 Cash 315,546 VOBA 506,600 Other assets 92,045 Benefit reserves (611,110 ) Policy claims (41,754 ) Deposit-type contracts (799,990 ) Other liabilities (64,934 ) Total identifiable net assets 3,358,340 Bargain purchase gain (2,231,104 ) $ 1,127,236

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2017
Marketable Securities [Abstract]
Schedule of Available for Sale Investments	The amortized cost and estimated fair value of investments classified as available-for-sale as of December 31, 2017 and 2016 are as follows: Cost or Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value December 31, 2017: Fixed maturities: U.S. government obligations $ 2,132,441 $ - $ 102,343 $ 2,030,098 Mortgage-back securities 1,365,684 - 47,103 1,318,581 States and political subdivisions -- general obligations 269,884 1,123 1,020 269,987 States and political subdivisions -- special revenue 25,347 38 - 25,385 Corporate 17,780,163 44,037 462,344 17,361,856 Total fixed maturities $ 21,573,519 $ 45,198 $ 612,810 $ 21,005,907 December 31, 2016: Fixed maturities: U.S. government obligations $ 3,390,545 $ - $ 166,326 $ 3,224,219 States and political subdivisions -- general obligations 383,730 732 3,067 381,395 States and political subdivisions -- special revenue 275,262 5,633 3,160 277,735 Corporate 24,974,546 16,232 1,135,188 23,855,590 Total fixed maturities $ 29,024,083 $ 22,597 $ 1,307,741 $ 27,738,939
Schedule of Amortized Cost, Fair Value, Credit Rating	The Company had two securities that individually exceed 10% of the total of the state and political subdivisions categories as of December 31, 2017. The amortized cost, fair value, credit rating, and description of each such security is as follows: Amortized Estimated Cost Fair Value Credit Rating December 31, 2017: Fixed maturities: States and political subdivisions -- general obligations Bellingham Wash $ 109,937 $ 108,917 AA+ Longview Washington Refunding 159,947 161,070 Aa3 Total $ 269,884 $ 269,987
Schedule of Unrealized Loss of Securities	The following table summarizes, for all securities in an unrealized loss position at December 31, 2017 and 2016, the estimated fair value, pre-tax gross unrealized loss and number of securities by length of time that those securities have been continuously in an unrealized loss position. December 31, 2017 December 31, 2016 Gross Number Gross Number Estimated Unrealized of Estimated Unrealized of Fair Value Loss Securities (1) Fair Value Loss Securities (1) Fixed Maturities: Less than 12 months: U.S. government obligations $ 262,662 $ 13,877 2 $ 3,224,219 $ 166,326 17 Mortgage-back securities 1,318,581 47,103 19 - - - States and political subdivisions -- general obligations 108,917 1,020 1 271,093 3,066 2 States and political subdivisions -- special revenue - - - 171,711 3,160 2 Corporate 7,511,874 133,061 35 19,737,965 935,546 112 Greater than 12 months: U.S. government obligations 1,767,435 88,466 10 - - - Corporate 7,144,231 329,283 42 2,558,275 199,643 12 Total fixed maturities $ 18,113,700 $ 612,810 109 $ 25,963,263 $ 1,307,741 145
Schedule of Fixed Maturities	Amortized Estimated Cost Fair Value Due in one year or less $ 201,090 $ 199,118 Due after one year through five years 1,142,934 1,109,439 Due after five years through ten years 6,867,623 6,647,567 Due after ten years 13,361,872 13,049,783 $ 21,573,519 $ 21,005,907
Components of Net Investment Income	The components of net investment income for the years ended December 31, 2017 and 2016 are as follows: Year Ended December 2017 2016 Fixed maturities $ 951,077 $ 889,860 Other 63,380 60,283 1,014,457 950,143 Less investment expenses (65,042 ) (71,152 ) Investment income, net of expenses $ 949,415 $ 878,991

Fair Values of Financial Inst30

Fair Values of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Investments, All Other Investments [Abstract]
Schedule of Financial Instruments at Fair Value Measured on a Recurring Basis	The following table presents the Company’s fair value hierarchy for those financial instruments measured at fair value on a recurring basis as of December 31, 2017 and 2016. Significant Quoted Other Significant Markets Inputs Inputs Fair (Level 1) (Level 2) (Level 3) Value December 31, 2017 Fixed maturities: U.S. government obligations $ - $ 2,030,098 $ - $ 2,030,098 Mortgage-back securities - 1,318,581 - 1,318,581 States and political subdivisions — general obligations - 269,987 - 269,987 States and political subdivisions — special revenue - 25,385 - 25,385 Corporate - 17,361,856 - 17,361,856 Total fixed maturities $ - $ 21,005,907 $ - $ 21,005,907 December 31, 2016 Fixed maturities: U.S. government obligations $ - $ 3,224,219 $ - $ 3,224,219 States and political subdivisions — general obligations - 381,395 - 381,395 States and political subdivisions — special revenue - 277,735 - 277,735 Corporate - 23,855,590 - 23,855,590 Total fixed maturities $ - $ 27,738,939 $ - $
Schedule of Financial Assets and Liabilities at Fair Value	The following disclosure contains the carrying values, estimated fair values and their corresponding placement in the fair value hierarchy, for financial assets and financial liabilities as of December 31, 2017 and 2016, respectively: December 31, 2017 Fair Value Measurements Using Quoted Prices in Active Markets Significant Other Significant for Identical Assets Observable Unobservable Carrying and Liabilities Inputs Inputs Fair Amount (Level 1) (Level 2) (Level 3) Value Assets: Policy loans $ 435,196 $ - $ - $ 435,196 $ 435,196 Cash 951,527 951,527 - - 951,527 Liabilities: Policyholder deposits (Deposit-type contracts) 18,421,055 - - 18,421,055 18,421,055 Surplus notes and accrued interest payable 843,922 - - 843,922 843,922 December 31, 2016 Fair Value Measurements Using Quoted Prices in Active Markets Significant Other Significant for Identical Assets Observable Unobservable Carrying and Liabilities Inputs Inputs Fair Amount (Level 1) (Level 2) (Level 3) Value Assets: Policy loans $ 412,583 $ - $ - $ 412,583 $ 412,583 Cash 661,545 661,545 - - 661,545 Liabilities: Policyholder deposits (Deposit-type contracts) 16,012,567 - - 16,012,567 16,012,567 Surplus notes and accrued interest payable 811,971 - - 808,602 808,602

Income Tax Matters (Tables)

Income Tax Matters (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows: December 31, 2017 December 31, 2016 Deferred tax assets: Loss carryforwards $ 9,243,612 $ 9,705,974 Capitalized costs 513,280 667,264 Unrealized losses on investments 199,878 436,949 Benefit reserves 957,292 984,640 Total deferred tax assets 10,914,062 Less valuation allowance (9,881,372 ) (10,170,638 ) Total deferred tax assets, net of valuation allowance 1,032,690 1,624,189 Deferred tax liabilities: Policy acquisition costs 426,696 571,148 Due premiums 216,184 228,136 Value of business acquired 145,334 586,905 Intangible assets 238,000 238,000 Property and equipment 6,476 - Total deferred tax liabilities 1,032,690 1,624,189 Net deferred tax assets $ - $ -
Schedule of Effective Tax Rate Reconciliation	There was no income tax expense for the years ended December 31, 2017 and 2016. This differed from the amounts computed by applying the statutory U.S. federal income tax rate of 34% to pretax income, as a result of the following: Year Ended December 31, 2017 2016 Computed expected income tax benefit $ (924,638 ) $ ) Increase (reduction) in income taxes resulting from: Bargain purchase gain - (451,019 ) Meals, entertainment and political contributions 15,288 18,956 Goodwill impairment - 384,140 Adjustment to Prior Year NOL 959,800 - Other 1,745 (53,722 ) 976,833 (101,645 ) Tax benefit before valuation allowance 52,195 (1,409,938 ) Change in valuation allowance (52,195 ) 1,409,938 Net income tax expenses $ - $ -

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2017
Reinsurance Disclosures [Abstract]
Summary of Significant Reinsurance Amounts	A summary of significant reinsurance amounts affecting the accompanying consolidated financial statements as of December 31, 2017 and 2016 and for the years ended December 31, 2017 and 2016 is as follows: December 31, 2017 December 31, 2016 Balance sheets: Benefit and claim reserves assumed $ 2,638,477 $ 2,470,063 Benefit and claim reserves ceded 21,855,266 11,704,055 Year Ended December 31, 2017 2016 Statements of comprehensive income: Premiums assumed $ 22,591 $ 24,064 Premiums ceded 532,043 287,780 Benefits assumed 58,689 43,602 Benefits ceded 230,997 696,159 Commissions assumed 30 35 Commissions ceded 1,616 1,649
Schedule of Significant Reinsurance Balances	The following table provides a summary of the significant reinsurance balances recoverable on paid and unpaid policy claims by reinsurer along with the A.M. Best credit rating as of December 31, 2017: Recoverable on Total Amount Recoverable Recoverable Benefit Ceded Recoverable AM Best on Paid on Unpaid Reserves/Deposit- Due/Advance from Reinsurer Rating Losses Losses type Contracts Premiums Reinsurer Optimum Re Insurance Company A- $ - $ 12,388 $ 95,980 $ - $ 108,368 Sagicor Life Insurance Company A- - 283,372 12,284,719 247,396 12,320,695 US Alliance Life and Security Company NR - 12,719 9,475,917 62,433 9,426,203 $ - $ 308,479 $ 21,856,616 $ 309,829 $ 21,855,266

Deposit-Type Contracts (Tables)

Deposit-Type Contracts (Tables)	12 Months Ended
	Dec. 31, 2017
Deposit Type Contracts [Abstract]
Schedule of Contracts	Year Ended December 31, 2017 2016 Beginning balance $ 16,012,567 $ 13,897,421 Deposits received 2,511,107 2,433,781 Investment earnings 808,085 776,541 Withdrawals (899,799 ) (1,086,661 ) Contract Charges (10,905 ) (8,515 ) Ending balance $ 18,421,055 $

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Rent expense for the years ended December 31, 2017 and 2016 was $219,357 and $341,424, respectively. Future minimum payments are as follows: 2018 $ 136,557 2019 141,412 2020 146,477 2021 151,543 2022 156,608 Later years 175,182 Total $ 907,779

Surplus Notes (Tables)

Surplus Notes (Tables)	12 Months Ended
	Dec. 31, 2017
Surplus Notes [Abstract]
Summary of Surplus Notes	The following provides a summary of the American Life’s surplus notes along with issue dates, maturity dates, face amounts, and interest rates as of December 31, 2017: Creditor Issue Date Maturity Date Face Amount Interest Rate David G. Elmore September 12, 2006 September 1, 2016 $ 7 % David G. Elmore August 4, 2011 August 1, 2016 300,000 5 %

Nature of Operations and Summ36

Nature of Operations and Summary of Significant Accounting Policies (Schedule of Deferred Acquisition Costs) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Balance at beginning of period	$ 2,568,799	$ 2,765,063
Capitalization of commissions, sales and issue expenses	333,940	178,419
Change in DAC due to unrealized investment losses	(14,144)	(7,448)
Gross amortization	(404,110)	(367,235)
Change in DAC due to coinsurance ceding commission	(437,620)
Balance at end of period	$ 2,046,864	$ 2,568,799

Nature of Operations and Summ37

Nature of Operations and Summary of Significant Accounting Policies (Narrative) (Details)	1 Months Ended	6 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares
Change in DAC due to coinsurance ceding commission | $			$ (14,144)	$ (7,448)
Goowill imparied | $			$ 1,129,824
Preferred stock, shares authorized (in shares)			10,000,000
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares)			120,000,000	120,000,000
Common stock, shares issued (in shares)			22,860,701	22,558,956
Common stock, shares outstanding (in shares)			22,860,701	22,558,956
Warrants outstanding				1,179
Number of shares of voting common stock issuable upon exercise of warrant				10
Exercise price of warrants (in dollars per share) | $ / shares				$ 6.50
Weighted Average Number of Shares Outstanding, Basic (in shares)			22,860,701	21,625,878
Depreciation | $			$ 65,092	$ 103,623
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $			894,014	961,864
Preferred stock dividend | $		$ 30,544	$ 30,544	$ 43,120
Residential Real Estate [Member]
Finite-Lived Intangible Assets, Remaining Amortization Period			50 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life			3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life			7 years
Computer Software, Intangible Asset [Member]
Property, Plant and Equipment, Useful Life			3 years
Non-voting common shares [Member]
Common Stock, Shares Authorized (in shares)			20,000,000
Series A Preferred Stock [Member]
Conversion Ratio			1.3
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)			0	2,000,000
Preferred stock, shares outstanding (in shares)			0	74,159
Converted preferred shares			96,407
Series B Preferred Stock [Member]
Conversion Ratio			2
Stated dividend rate			7.00%
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)			0	1,000,000
Preferred stock, shares outstanding (in shares)			0	102,669
Converted preferred shares			205,338
US Alliance Life and Security Company [Member]
Change in DAC due to coinsurance ceding commission | $			$ 437,620
Unamorized value of business acquired | $	$ 1,085,811		$ 1,085,811

Acquisitions and Divestitures38

Acquisitions and Divestitures (Narrative) (Details)	Mar. 15, 2016shares	Aug. 29, 2016USD ($)	Oct. 31, 2015USD ($)shares	Oct. 31, 2015USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Oct. 28, 2015USD ($)
Business Acquisition [Line Items]
Loss on equity method investment							$ (420,720)
Voting common stock							905,806
Bargain purchase gain for business acquisition			$ 904,578				1,326,526
Total income						4,538,171	4,114,248
Net loss						(2,719,524)	(3,847,922)
Parent Company [Member]
Business Acquisition [Line Items]
Loss on equity method investment			619,480				(420,720)
Elimination of Midwest Investment in First Wyoming			221,430			420,720
Elimination of unrealized gain on Midwest due to First Wyoming			30,410
Bargain purchase gain for business acquisition							1,326,526
Total income						606,265	(28,188)
Net loss						$ 196,927	$ (2,082,220)
Capital Reserve Life Insurance Company [Member]
Business Acquisition [Line Items]
Gain loss in sale of interest		$ 26,000
Cash in excess of book value paid		50,000
Realized gains on the fair market value of bonds		17,000
Write-off of VOBA		$ 40,714
Northstar Financial Corporation [Member]
Business Acquisition [Line Items]
Conversion Ratio	1.27
Shares converted | shares	4,553,000
First Wyoming Life Insurance Company [Member]
Business Acquisition [Line Items]
Loss on equity method investment				$ 198,760
Elimination of Midwest Investment in First Wyoming			$ 221,430	642,150	$ 420,720
Shares converted | shares			4,767,400
Voting common stock			$ 905,806	$ 1,811,612
Finite-Lived Intangible Assets, Remaining Amortization Period			10 years
Bargain purchase gain for business acquisition			$ 2,231,104
Ownership percentage			100.00%	100.00%
Discount rate			16.00%
Expected long term growth			3.00%
Capitalization rate			13.00%
Equity method investments								$ 810,500
Ownership percentage prior to acquisition								22.10%
First Wyoming Life Insurance Company [Member] | Minimum [Member]
Business Acquisition [Line Items]
Projected cash flow growth			3.00%
First Wyoming Life Insurance Company [Member] | Maximum [Member]
Business Acquisition [Line Items]
Projected cash flow growth			16.00%
First Wyoming Life Insurance Company [Member] | Parent Company [Member]
Business Acquisition [Line Items]
Discount rate			18.00%
Expected long term growth			3.00%
Capitalization rate			13.00%
First Wyoming Life Insurance Company [Member] | Parent Company [Member] | Minimum [Member]
Business Acquisition [Line Items]
Projected cash flow growth			3.00%
First Wyoming Life Insurance Company [Member] | Parent Company [Member] | Maximum [Member]
Business Acquisition [Line Items]
Projected cash flow growth			13.00%

Acquisitions and Divestitures39

Acquisitions and Divestitures (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($)	1 Months Ended		9 Months Ended	12 Months Ended
	Oct. 31, 2015	Oct. 31, 2015	Sep. 30, 2016	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Fair value of Common stock of Midwest issued as consideration					$ 905,806
Bargain purchase gain	$ (904,578)				$ (1,326,526)
First Wyoming Life Insurance Company [Member]
Business Acquisition [Line Items]
Fair value of Common stock of Midwest issued as consideration	905,806	$ 1,811,612
Fair value of Midwest's previously held equity interest in First Wyoming	221,430	642,150	$ 420,720
Total consideration	1,127,236
Investment securities	3,961,937	3,961,937
Cash	315,546	315,546
VOBA	506,600	506,600
Other Assets	92,045	92,045
Benefit reserves	(611,110)	(611,110)
Policy claims	(41,754)	(41,754)
Deposit type-contracts	(799,990)	(799,990)
Other liabilities	(64,934)	(64,934)
Total identifiable net assets	3,358,340	3,358,340
Bargain purchase gain	(2,231,104)
Total	$ 1,127,236	$ 1,127,236

Investments (Schedule of Availa

Investments (Schedule of Available for Sale Investments) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Cost or Amortized Cost	$ 21,573,519
Estimated Fair Value	21,005,907
Fixed Maturities [Member]
Cost or Amortized Cost	21,573,519	$ 29,024,083
Gross Unrealized Gains	45,198	22,597
Gross Unrealized Losses	612,810	1,307,741
Estimated Fair Value	21,005,907	27,738,939
Fixed Maturities [Member] | U.S. government obligations [Member]
Cost or Amortized Cost	2,132,441	3,390,545
Gross Unrealized Gains
Gross Unrealized Losses	102,343	166,326
Estimated Fair Value	2,030,098	3,224,219
Fixed Maturities [Member] | States and Political Subdivisions General Obligations [Member]
Cost or Amortized Cost	269,884	383,730
Gross Unrealized Gains	1,123	732
Gross Unrealized Losses	1,020	3,067
Estimated Fair Value	269,987	381,395
Fixed Maturities [Member] | States and Political Subdivisions Special Revenue [Member]
Cost or Amortized Cost	25,347	275,262
Gross Unrealized Gains	38	5,633
Gross Unrealized Losses		3,160
Estimated Fair Value	25,385	277,735
Fixed Maturities [Member] | Corporate [Member]
Cost or Amortized Cost	17,780,163	24,974,546
Gross Unrealized Gains	44,037	16,232
Gross Unrealized Losses	462,344	1,135,188
Estimated Fair Value	17,361,856	$ 23,855,590
Fixed Maturities [Member] | Mortgage Back Securities [Member]
Cost or Amortized Cost	1,365,684
Gross Unrealized Gains
Gross Unrealized Losses	47,103
Estimated Fair Value	$ 1,318,581

Investments (Schedule of Amorti

Investments (Schedule of Amortized Cost, Fair Value, Credit Rating) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Amortized Cost	$ 21,573,519	$ 29,024,083
States and Political Subdivisions General Obligations [Member]
Amortized Cost	269,884
Estimated Fair Value	269,987
States and Political Subdivisions General Obligations [Member] | Us States and Political Subdivisions Debt Securities [Member] | Bellingham Wash [Member]
Amortized Cost	109,937
Estimated Fair Value	$ 108,917
Credit Rating	AA+
States and Political Subdivisions General Obligations [Member] | Us States and Political Subdivisions Debt Securities [Member] | Longview Washington Refunding [Member]
Amortized Cost	$ 159,947
Estimated Fair Value	$ 161,070
Credit Rating	Aa3

Investments (Schedule of Unreal

Investments (Schedule of Unrealized Loss of Securities) (Details) - Fixed Maturities [Member]	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Estimated Fair Value, Total	$ 18,113,700	$ 25,963,263
Gross Unrealized Loss, Total	$ 612,810	$ 1,307,741
Number of Securities, Total	109	145
U.S. government obligations [Member]
Estimated Fair Value, Less than 12 months	$ 262,662	$ 3,224,219
Gross Unrealized Loss, Less than 12 months	$ 13,877	$ 166,326
Number of Securities, Less than 12 months	2	17
Estimated Fair value, Greater than 12 months	$ 1,767,435
Gross Unrealized Loss, Greater than 12 months	$ 88,466
Number of Securities, Greater than 12 months	10
States and Political Subdivisions General Obligations [Member]
Estimated Fair Value, Less than 12 months	$ 108,917	$ 271,093
Gross Unrealized Loss, Less than 12 months	$ 1,020	$ 3,066
Number of Securities, Less than 12 months	1	2
States and Political Subdivisions Special Revenue [Member]
Estimated Fair Value, Less than 12 months		$ 171,711
Gross Unrealized Loss, Less than 12 months		$ 3,160
Number of Securities, Less than 12 months		2
Corporate [Member]
Estimated Fair Value, Less than 12 months	$ 7,511,874	$ 19,737,965
Gross Unrealized Loss, Less than 12 months	$ 133,061	$ 935,546
Number of Securities, Less than 12 months	35	112
Estimated Fair value, Greater than 12 months	$ 7,144,231	$ 2,558,275
Gross Unrealized Loss, Greater than 12 months	$ 329,283	$ 199,643
Number of Securities, Greater than 12 months	42	12
Mortgage Back Securities [Member]
Estimated Fair Value, Less than 12 months	$ 1,318,581
Gross Unrealized Loss, Less than 12 months	$ 47,103
Number of Securities, Less than 12 months	19

Investments (Schedule of Fixed

Investments (Schedule of Fixed Maturities) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Marketable Securities [Abstract]
Amortized Cost, Due in one year or less	$ 201,090
Amortized Cost, Due after one year through five years	1,142,934
Amortized Cost, Due after five years through ten years	6,867,623
Amortized Cost, Due after ten years	13,361,872
Available-for-sale Securities, Debt Maturities, Amortized Cost	21,573,519	$ 29,024,083
Estimated Fair Value, Due in one year or less	199,118
Estimated Fair Value, Due after one year through five years	1,109,439
Estimated Fair Value, Due after five years through ten years	6,647,567
Estimated Fair Value, Due after ten years	13,049,783
Available-for-sale Securities, Debt Securities, Estimated Fair Value	$ 21,005,907	$ 27,738,939

Investments (Components of Net

Investments (Components of Net Investment Income) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net investment income	$ 1,014,457	$ 950,143
Less investment expenses	(65,042)	(71,152)
Investment income, net of expenses	949,415	878,991
Fixed Maturities [Member]
Net investment income	951,077	889,860
Other [Member]
Net investment income	$ 63,380	$ 60,283

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Investments [Abstract]
Separate Account Assets	$ 3,287,932	$ 2,747,571
Assets On Deposits Fair Value	3,167,727	2,635,225
Proceeds From Sale Of Available-For-Sale Securities	33,586,723	14,179,936
Available-for-sale Securities, Gross Realized Gains	199,743	178,104
Available-for-sale Securities, Gross Realized Losses	152,453	$ 54,610
Non-Investment Grade [Member]
Investments [Abstract]
Unrealized loss on bond	47,206
Investment Grade [Member]
Investments [Abstract]
Unrealized loss on bond	$ 520,406

Fair Values of Financial Inst46

Fair Values of Financial Instruments (Schedule of Financial Instruments at Fair Value Measured on a Recurring Basis) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	$ 21,005,907
Fixed Maturities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	21,005,907	$ 27,738,939
Fixed Maturities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	21,005,907	27,738,939
Fixed Maturities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | U.S. government obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	2,030,098	3,224,219
Fixed Maturities [Member] | U.S. government obligations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | U.S. government obligations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	2,030,098	3,224,219
Fixed Maturities [Member] | U.S. government obligations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | Mortgage Back Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	1,318,581
Fixed Maturities [Member] | Mortgage Back Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | Mortgage Back Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	1,318,581
Fixed Maturities [Member] | Mortgage Back Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | States and Political Subdivisions General Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	269,987	381,395
Fixed Maturities [Member] | States and Political Subdivisions General Obligations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | States and Political Subdivisions General Obligations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	269,987	381,395
Fixed Maturities [Member] | States and Political Subdivisions General Obligations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | States and Political Subdivisions Special Revenue [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	25,385	277,735
Fixed Maturities [Member] | States and Political Subdivisions Special Revenue [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | States and Political Subdivisions Special Revenue [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	25,385	277,735
Fixed Maturities [Member] | States and Political Subdivisions Special Revenue [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	17,361,856	23,855,590
Fixed Maturities [Member] | Corporate [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities
Fixed Maturities [Member] | Corporate [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities	17,361,856	23,855,590
Fixed Maturities [Member] | Corporate [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, equity securities

Fair Values of Financial Inst47

Fair Values of Financial Instruments (Schedule of Financial Assets and Liabilities at Fair Value) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets:
Cash	$ 951,527	$ 661,545	$ 1,192,336
Liabilities:
Surplus notes and accrued interest payable	550,000	550,000
Fair Value, Inputs, Level 1 [Member]
Assets:
Policy loans
Cash	951,527	661,545
Liabilities:
Policyholder deposits (Deposit-type contracts)
Surplus notes and accrued interest payable
Fair Value, Inputs, Level 2 [Member]
Assets:
Policy loans
Cash
Liabilities:
Policyholder deposits (Deposit-type contracts)
Surplus notes and accrued interest payable
Fair Value, Inputs, Level 3 [Member]
Assets:
Policy loans	435,196	412,583
Cash
Liabilities:
Policyholder deposits (Deposit-type contracts)	18,421,055	16,012,567
Surplus notes and accrued interest payable	843,922	808,602
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Assets:
Policy loans	435,196	412,583
Cash	951,527	661,545
Liabilities:
Policyholder deposits (Deposit-type contracts)	18,421,055	16,012,567
Surplus notes and accrued interest payable	843,922	811,971
Estimate Of Fair Value, Fair Value Disclosure [Member]
Assets:
Policy loans	435,196	412,583
Cash	951,527	661,545
Liabilities:
Policyholder deposits (Deposit-type contracts)	18,421,055	16,012,567
Surplus notes and accrued interest payable	$ 843,922	$ 808,602

Fair Values of Financial Inst48

Fair Values of Financial Instruments (Narrative) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Investments, All Other Investments [Abstract]
Accrued interest	$ 293,922	$ 261,971

Income Tax Matters (Schedule of

Income Tax Matters (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Loss carryforwards	$ 9,243,612	$ 9,705,974
Capitalized costs	513,280	667,264
Unrealized losses on investments	199,878	436,949
Benefit reserves	957,292	984,640
Total deferred tax assets	10,914,062	11,794,827
Less valuation allowance	(9,881,372)	(10,170,638)
Total deferred tax assets, net of valuation allowance	1,032,690	1,624,189
Deferred tax liabilities:
Policy acquisition costs	426,696	571,148
Due premiums	216,184	228,136
Value of business acquired	145,334	586,905
Intangible assets	238,000	238,000
Property and equipment	6,476
Total deferred tax liabilities	1,032,690	1,624,189
Net deferred tax assets

Income Tax Matters (Schedule 50

Income Tax Matters (Schedule of Effective Tax Rate Reconciliation) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Computed expected income tax benefit	$ (924,638)	$ (1,308,293)
Increase (reduction) in income taxes resulting from:
Bargain purchase gain		(451,019)
Meals, entertainment and political contributions	15,288	18,956
Goodwill impairment		384,140
Adjustment to Prior Year NOL	959,800
Other	1,745	(53,722)
Income Tax Reconciliation, Deductions	976,833	(101,645)
Tax benefit before valuation allowance	52,195	(1,409,938)
Change in valuation allowance	(52,195)	1,409,938
Net income tax expense

Income Tax Matters (Narrative)

Income Tax Matters (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Matters [Abstract]
Deferred Tax Assets, Valuation Allowance	$ 9,881,372	$ 10,170,638
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	34.00%	34.00%
Maximum [Member]
Income Tax Matters [Abstract]
Operating Loss Carryforwards, Expiration Dates	Dec. 31, 2037
Minimum [Member]
Income Tax Matters [Abstract]
Operating Loss Carryforwards, Expiration Dates	Dec. 31, 2024

Reinsurance (Summary of Signifi

Reinsurance (Summary of Significant Reinsurance Amounts) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Balance sheets:
Benefit and claim reserves assumed	$ 2,638,477	$ 2,470,063
Benefit and claim reserves ceded	21,855,266	11,704,055
Statements of comprehensive income:
Premiums assumed	22,591	24,064
Premiums ceded	532,043	287,780
Benefits assumed	58,689	43,602
Benefits ceded	230,997	696,159
Commissions assumed	30	35
Commissions ceded	$ 1,616	$ 1,649

Reinsurance (Schedule of Signif

Reinsurance (Schedule of Significant Reinsurance Balances) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Recoverable on Paid Losses
Recoverable on Unpaid Losses	308,479
Recoverable on Benefit Reserves/Deposit-type Contracts	21,856,616
Ceded Due/Advance Premiums	309,829
Total Amount Recoverable from Reinsurer	$ 21,855,266	$ 11,704,055
Optimum Reinsurance Company [Member]
AM Best Rating	A-
Recoverable on Paid Losses
Recoverable on Unpaid Losses	12,388
Recoverable on Benefit Reserves/Deposit-type Contracts	95,980
Ceded Due/Advance Premiums
Total Amount Recoverable from Reinsurer	$ 108,368
Sagicor Life Insurance Company [Member]
AM Best Rating	A-
Recoverable on Paid Losses
Recoverable on Unpaid Losses	283,372
Recoverable on Benefit Reserves/Deposit-type Contracts	12,284,719
Ceded Due/Advance Premiums	247,396
Total Amount Recoverable from Reinsurer	$ 12,320,695	$ 11,446,342
US Alliance Life and Security Company [Member]
AM Best Rating	NR
Recoverable on Paid Losses
Recoverable on Unpaid Losses	12,719
Recoverable on Benefit Reserves/Deposit-type Contracts	9,475,917
Ceded Due/Advance Premiums	62,433
Total Amount Recoverable from Reinsurer	$ 9,426,203

Reinsurance (Narrative) (Detail

Reinsurance (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Amounts recoverable from reinsurers		$ 21,855,266	$ 11,704,055
Net of ceding allowance		1,850,000
Deferred acquisition cost		(14,144)	(7,448)
American Life and Security Corporation [Member] | Annual GAAP Revenues [Member]
Amount to cede		883,000
American Life and Security Corporation [Member] | Statutory Revenues [Member]
Amount to cede		$ 1,758,250
US Alliance Life and Security Company [Member]
Amounts recoverable from reinsurers	$ 8,928,223
Transferred risk insurance company		100.00%
Amount transferred for reinsurance		$ 9,629,623
Adjusted reserves cash		7,078,223
Net of ceding allowance		1,850,000
Coinsurance ceding commission deferred		$ 326,569
Deferred gain period		20 years
Deferred acquisition cost		$ 437,620
Value of business acquired	$ 1,085,811	1,085,811
Amount to cede		9,426,203
Sagicor Life Insurance Company [Member]
Amounts recoverable from reinsurers		$ 12,320,695	$ 11,446,342

Deposit-Type Contracts (Schedul

Deposit-Type Contracts (Schedule of Contracts) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Deposit Type Contracts [Abstract]
Beginning balance	$ 16,012,567	$ 13,897,421
Deposits received	2,511,107	2,433,781
Investment earnings	808,085	776,541
Withdrawals	(899,799)	(1,086,661)
Contract Charges	(10,905)	(8,515)
Ending balance	$ 18,421,055	$ 16,012,567

Commitments and Contingencies56

Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Operating Leases, Rent Expense	$ 219,357	$ 341,424
2,018	136,557
2,019	141,412
2,020	146,477
2,021	151,543
2,022	156,608
Later years	175,182
Total	$ 907,779

Statutory Net Income and Surp57

Statutory Net Income and Surplus (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
American Life and Security Corporation [Member]
Statutory net loss	$ 2,084,690	$ 1,979,009
Statutory capital and surplus	$ 2,962,885	$ 3,817,844
US Alliance Life and Security Company [Member]
Transferred risk insurance company	100.00%

Surplus Notes (Summary of Surpl

Surplus Notes (Summary of Surplus Notes) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Face Amount	$ 550,000	$ 550,000
David Elmore [Member] | Surplus Notes One [Member]
Issue Date	Sep. 12, 2006
Maturity Date	Sep. 1, 2016
Face Amount	$ 250,000
Interest Rate	7.00%
David Elmore [Member] | Surplus Notes Two [Member]
Issue Date	Aug. 4, 2011
Maturity Date	Aug. 1, 2016
Face Amount	$ 300,000
Interest Rate	5.00%

Surplus Notes (Narrative) (Deta

Surplus Notes (Narrative) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Interest Payable	$ 293,922	$ 261,971
Surplus Notes [Member]
Interest Payable	$ 293,922

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
American Life and Security Corporation [Member]
Related Party Transaction [Line Items]
Amount of transaction	$ 71,680	$ 63,500

Schedule I Summary of Investm61

Schedule I Summary of Investments - Other Than Investments in Related Parties (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Amortized Cost	$ 21,573,519
Fair Value	21,005,907
Amount Recognized in Consolidated Balance Sheets	21,005,907	$ 27,738,939
Real estate, held for investment, Amortized Cost	505,688
Policy loans, Amortized Cost	435,196
Total investments, Amortized Cost	22,514,403
Real estate, held for investment, Amount Recognized in Consolidated Balance Sheets	505,688	517,729
Policy loans, Amount Recognized in Consolidated Balance Sheets	435,196	412,583
Total investments, Amount Recognized in Consolidated Balance Sheets	21,946,791	28,669,251
Fixed Maturities [Member]
Amortized Cost	21,573,519	29,024,083
Fair Value	21,005,907	27,738,939
Amount Recognized in Consolidated Balance Sheets	21,005,907
U.S. government obligations [Member] | Fixed Maturities [Member]
Amortized Cost	2,132,441	3,390,545
Fair Value	2,030,098	3,224,219
Amount Recognized in Consolidated Balance Sheets	2,030,098
Mortgage Back Securities [Member] | Fixed Maturities [Member]
Amortized Cost	1,365,684
Fair Value	1,318,581
Amount Recognized in Consolidated Balance Sheets	1,318,581
States and Political Subdivisions General Obligations [Member] | Fixed Maturities [Member]
Amortized Cost	269,884	383,730
Fair Value	269,987	381,395
Amount Recognized in Consolidated Balance Sheets	269,987
States and Political Subdivisions Special Revenue [Member] | Fixed Maturities [Member]
Amortized Cost	25,347	275,262
Fair Value	25,385	277,735
Amount Recognized in Consolidated Balance Sheets	25,385
Corporate [Member] | Fixed Maturities [Member]
Amortized Cost	17,780,163	24,974,546
Fair Value	17,361,856	$ 23,855,590
Amount Recognized in Consolidated Balance Sheets	$ 17,361,856

Schedule II Condensed Financi62

Schedule II Condensed Financial Information of Registrant Balance Sheets (Details) - USD ($)		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Total investments		$ 21,946,791	$ 28,669,251
Cash and cash equivalents		951,527	661,545	$ 1,192,336
Property and equipment, net		127,976	158,471
Other assets		107,723	95,773
Total assets		49,022,602	47,267,129
Liabilities:
Accounts payable and accrued expenses		790,361	1,211,875
Total liabilities		46,800,360	42,998,207
Stockholders' Equity:
Common stock		22,861	22,559
Additional paid-in capital		33,006,255	33,036,924
Accumulated deficit		(30,252,971)	(27,533,447)
Accumulated other comprehensive loss		(553,903)	(1,257,291)
Total liabilities and stockholders' equity		49,022,602	47,267,129
Parent Company [Member]
Assets
Investment in subsidiaries	[1]	2,211,630	4,424,693
Equity securities, at cost
Total investments		2,211,630	4,424,693
Cash and cash equivalents		4,756	112,563	$ 212,422
Property and equipment, net		42,587	78,790
Other assets		38,321	153,502
Total assets		2,297,294	4,769,548
Liabilities:
Accounts payable and accrued expenses		75,052	500,626
Total liabilities		75,052	500,626
Stockholders' Equity:
Common stock		22,861	22,559
Additional paid-in capital		33,006,255	33,036,924
Accumulated deficit		(30,252,971)	(27,533,447)
Accumulated other comprehensive loss		(553,903)	(1,257,291)
Total Midwest Holding Inc.'s stockholders' equity		2,222,242	4,268,922
Total liabilities and stockholders' equity		2,297,294	4,769,548
Series A Preferred Stock [Member]
Stockholders' Equity:
Preferred stock			74
Series A Preferred Stock [Member] | Parent Company [Member]
Stockholders' Equity:
Preferred stock			74
Series B Preferred Stock [Member]
Stockholders' Equity:
Preferred stock			103
Series B Preferred Stock [Member] | Parent Company [Member]
Stockholders' Equity:
Preferred stock			$ 103
[1]	Eliminated in consolidation.

Schedule II Condensed Financi63

Schedule II Condensed Financial Information of Registrant Statements of Comprehensive Income (Details) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2015	Dec. 31, 2017	Dec. 31, 2016
Income:
Investment loss, net of expenses		$ 949,415	$ 878,991
Net realized loss on investments		47,290	31,504
Loss on equity method investment			(420,720)
Extinguishment of Hot Dot payable		486,361
Miscellaneous income		82,235	107,015
Revenues		4,538,171	4,114,248
Expenses:
Income tax expense
Loss before equity in loss of consolidated subsidiaries		(2,719,524)	(3,847,922)
Bargain purchase gain for business acquisition	$ 904,578		1,326,526
Comprehensive income (loss):
Unrealized losses on investments arising during period		750,678	(212,574)
Less: reclassification adjustment for net realized gains on investments		(47,290)	(31,504)
Other comprehensive income (loss)		703,388	(244,078)
Parent Company [Member]
Income:
Investment loss, net of expenses		(6,776)	(5,635)
Net realized loss on investments			(117,500)
Loss on equity method investment			(420,720)
Extinguishment of Hot Dot payable		486,361
Miscellaneous income		126,680	515,667
Revenues		606,265	(28,188)
Expenses:
General		409,338	2,054,032
Loss before income tax expense		196,927	(2,082,220)
Income tax expense
Loss before equity in loss of consolidated subsidiaries		196,927	(2,082,220)
Equity in loss of consolidated subsidiaries		(2,916,451)	(3,092,228)
Bargain purchase gain for business acquisition			1,326,526
Net loss attributable to Midwest Holding Inc.		(2,719,524)	(3,847,922)
Comprehensive income (loss):
Unrealized losses on investments arising during period		750,678	(212,574)
Less: reclassification adjustment for net realized gains on investments		(47,290)	(31,504)
Other comprehensive income (loss)		703,388	(244,078)
Total comprehensive (loss) income attributable to Midwest Holding Inc.		$ (2,016,136)	$ (4,092,000)

Schedule II Condensed Financi64

Schedule II Condensed Financial Information of Registrant Statements of Cash Flows (Details) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Oct. 31, 2015	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:
Depreciation			$ 288,030	$ 381,582
Net realized gain on investments			(47,290)	(31,504)
Bargain purchase gain for business acquired	$ (904,578)			(1,326,526)
Equity in the net loss of unconsolidated subsidiaries				420,720
Other assets and liabilities			52,897	575,313
Extinguishment of Hot Dot payable			486,361
Net cash used in operating activities			(8,555,530)	(927,125)
Equity securities carried at cost:
Proceeds from equity securities carried at cost				52,703
Issurance of common stock acquisition of Northstar Financial				2,427,394
Net disposals (purchases) of property and equipment			(32,567)	(33,180)
Net cash provided by investing activities			7,264,748	(907,664)
Cash Flows from Financing Activities:
Preferred stock dividend		$ (30,544)	(30,544)	(43,120)
Net cash used by financing activities			1,580,764	1,303,998
Net decrease in cash and cash equivalents			289,982	(530,791)
Cash and cash equivalents:
Beginning		661,545	661,545	1,192,336
Ending			951,527	661,545
Supplemental Disclosure of Non-Cash Information
Converted Series A and B Preferred Stock			(177)
Common Stock issues from Converted A and B Preferred Stock			177
Common stock issued on Northstar Acquisition				2,405,874
Total				1,500,068
Parent Company [Member]
Cash Flows from Operating Activities:
Net loss			(2,719,524)	(3,847,922)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:
Equity in net loss of consolidated subsidiaries			2,916,451	2,972,023
Depreciation			30,512	31,931
Net realized gain on investments				117,500
Bargain purchase gain for business acquired				(1,326,526)
Equity in the net loss of unconsolidated subsidiaries	$ (619,480)			420,720
Other assets and liabilities			175,968	(861,791)
Extinguishment of Hot Dot payable			486,361
Net cash used in operating activities			(82,954)	(2,494,065)
Equity securities carried at cost:
Proceeds from equity securities carried at cost				30,250
Issurance of common stock acquisition of Northstar Financial				2,427,394
Net disposals (purchases) of property and equipment			5,691	(20,318)
Net cash provided by investing activities			5,691	2,437,326
Cash Flows from Financing Activities:
Issuance of common stock
Preferred stock dividend			(30,544)	(43,120)
Net cash used by financing activities			(30,544)	(43,120)
Net decrease in cash and cash equivalents			(107,807)	(99,859)
Cash and cash equivalents:
Beginning		$ 112,563	112,563	212,422
Ending			4,756	112,563
Supplemental Disclosure of Non-Cash Information
Converted Series A and B Preferred Stock			(177)
Common Stock issues from Converted A and B Preferred Stock			177
Common stock issued on the First Wyoming acquisition and measurement period adjustment				(905,806)
Common stock issued on Northstar Acquisition				2,405,874
Total				$ 1,500,068

Schedule III Supplementary In65

Schedule III Supplementary Insurance Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Future Policy Benefits, Claims and Deposit-type Contracts	$ 26,228,105	$ 24,606,543
Deferred Gain on Coinsurance Transaction	322,487
Life Insurance Segment [Member]
Deferred Policy Acquisition Costs	2,046,864	2,568,799
Future Policy Benefits, Claims and Deposit-type Contracts	45,096,673	41,184,258
Advance Premiums	40,839	52,074
Deferred Gain on Coinsurance Transaction	322,487
Premium Revenue	2,972,870	3,517,458
Net Investment Income (Loss)	949,415	878,991
Death and Other Benefits and Increase in Benefit Reserves	2,344,775	2,331,375
Amortization of Deferred Policy Acquisition Costs	404,110	367,235
Other Operating Expenses	$ 4,508,810	$ 6,590,086

Schedule IV Reinsurance Infor66

Schedule IV Reinsurance Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Premiums ceded	$ 532,043	$ 287,780
Premiums assumed	22,591	24,064
Premiums	2,972,870	3,517,458
Life Insurance Force [Member]
Direct Premiums Earned	219,023,000	229,981,000
Premiums ceded	171,610,000	110,670,000
Premiums assumed	3,998,000	3,879,000
Premiums	$ 51,411,000	$ 123,190,000
Premiums, Percentage Assumed to Net	7.78%	3.15%
Life Insurance Segment [Member]
Direct Premiums Earned	$ 2,463,418	$ 3,253,742
Premiums ceded	532,043	287,780
Premiums assumed	22,591	24,064
Premiums	$ 2,972,870	$ 3,517,458
Premiums, Percentage Assumed to Net	0.76%	0.68%

Valuation and Qualifying Acco67

Valuation and Qualifying Accounts (Details) - Reduced Depreciation [Member] - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning of the year	$ 961,864	$ 864,526
Depreciation expense	65,092	103,623
Disposals	(132,942)	(6,285)
End of the year	$ 894,014	$ 961,864