Investors Heritage Capital (IHRC) 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 14, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Investors Heritage Capital Corp	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	1,133,162
Amendment Flag	'false	'
Entity Central Index Key	'0000055362	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Securities available-for-sale, at fair value:	'	'
Fixed maturities (amortized cost: $405,809,842 and $394,370,377)	$424,613,943	$438,323,413
Equity securities (cost: $5,193,826 and $1,117,051)	4,963,828	1,386,637
Mortgage loans on real estate	16,353,632	16,620,290
Policy loans	6,703,738	6,781,751
State-guaranteed receivables	8,061,055	8,111,669
Investment in derivative	'	642,600
Other invested assets	3,253,343	3,420,189
Total investments	463,949,539	475,286,549
Cash and cash equivalents	3,434,896	6,009,905
Accrued investment income	4,280,991	5,163,783
Due premiums	3,460,096	3,422,629
Deferred acquisition costs	18,553,846	16,654,246
Value of business acquired	416,121	513,667
Leased property under capital leases	364,239	577,839
Property and equipment	1,715,075	1,900,068
Cash value of company-owned life insurance	11,523,836	10,844,489
Other assets	2,247,933	1,835,666
Amounts recoverable from reinsurers	56,175,204	53,797,125
Total assets	566,121,776	576,005,966
Policy liabilities:	'	'
Benefit reserves	478,388,842	464,449,101
Unearned premium reserves	8,667,894	9,111,514
Policy claims	4,134,431	1,894,727
Liability for deposit-type contracts	3,258,029	3,147,458
Reserves for dividends and endowments and other	432,476	446,016
Total policy liabilities	494,881,672	479,048,816
Deferred federal income tax liability	4,963,492	13,189,478
Obligations under capital leases	358,350	568,214
Notes payable	3,182,050	3,478,613
Accrued pension liability	6,038,621	7,211,519
Other liabilities	3,735,269	4,276,542
Total liabilities	513,159,454	507,773,182
STOCKHOLDERS' EQUITY	'	'
Common stock (shares issued: 1,133,162 and 1,141,886)	1,133,162	1,141,886
Paid-in surplus	8,908,243	8,908,243
Accumulated other comprehensive income	6,572,516	22,539,724
Retained earnings	36,348,401	35,642,931
Total stockholders' equity	52,962,322	68,232,784
Total liabilities and stockholders' equity	$566,121,776	$576,005,966

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Cost	$411,003,668	$395,487,428
Common stock, shares issued (in Shares)	1,133,162	1,141,886
Debt Securities [Member]	'	'
Cost	405,809,842	394,370,377
Equity Securities [Member]	'	'
Cost	$5,193,826	$1,117,051

Condensed_Consolidated_Income_

Condensed Consolidated Income Statements (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUE	'	'	'	'
Premiums and other considerations	$18,740,917	$17,526,584	$55,644,294	$50,632,068
Premiums ceded	-3,792,363	-5,410,565	-11,373,438	-14,363,992
Net premiums earned	14,948,554	12,116,019	44,270,856	36,268,076
Investment income, net of expenses	4,985,998	5,245,110	15,516,997	15,593,997
Net realized gains on investments:	'	'	'	'
Other net realized investment gains	2,418,806	249,927	2,482,057	448,186
Net realized gains on investments	2,418,806	249,927	2,482,057	448,186
Consideration on reinsurance assumed	'	'	'	9,523
Other income	325,180	415,825	1,071,957	1,249,727
Total revenue	22,678,538	18,026,881	63,341,867	53,569,509
BENEFITS AND EXPENSES	'	'	'	'
Death and other benefits	9,746,027	9,829,253	32,925,539	32,324,798
Guaranteed annual endowments	94,771	103,967	332,519	349,201
Dividends to policyholders	85,824	94,774	314,825	331,526
Increase in benefit reserves and unearned premiums	5,784,708	3,201,772	15,028,520	7,100,162
Acquisition costs deferred	-2,279,348	-2,400,294	-6,930,950	-6,362,851
Amortization of deferred acquisition costs	2,030,109	2,108,748	5,830,140	5,831,702
Commissions	1,956,328	1,331,913	5,624,457	3,525,307
Other general and administrative expenses	2,476,130	2,385,935	8,526,005	8,656,620
Total benefits and expenses	19,894,549	16,656,068	61,651,055	51,756,465
INCOME BEFORE FEDERAL INCOME TAXES	2,783,989	1,370,813	1,690,812	1,813,044
PROVISION (BENEFIT) FOR FEDERAL INCOME TAXES	'	'	'	'
Current	896,769	342,339	430,195	640,254
Deferred	-61,573	68,906	77,048	-96,340
Total federal income taxes	835,196	411,245	507,243	543,914
NET INCOME	$1,948,793	$959,568	$1,183,569	$1,269,130
BASIC AND DILUTED NET INCOME PER SHARE (in Dollars per share)	$1.72	$0.83	$1.04	$1.10
DIVIDENDS PER SHARE (in Dollars per share)	'	'	$0.25	$0.23

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended			9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012	Sep. 30, 2013		Sep. 30, 2012
NET INCOME	$1,948,793		$959,568	$1,183,569		$1,269,130
OTHER COMPREHENSIVE INCOME (LOSS):	'		'	'		'
Unrealized holding gains (losses) arising during period	-1,357,536		6,469,578	-23,152,456		13,991,611
Reclassification adjustment for gains included in income	-2,418,806	[1]	-249,927	-2,496,063	[1]	-448,186
Adjustment for effects of deferred acquisition costs	128,198		-166,471	798,791		-360,841
Net unrealized gains (losses) on investments	-3,648,144		6,053,180	-24,849,728		13,182,584
Amortization of actuarial net loss in net periodic pension cost	193,161	[2]	171,359	579,485	[2]	690,197
Curtailment of defined benefit pension plan	'		'	'		2,519,152
Net change in defined benefit pension plan	193,161		171,359	579,485		3,209,349
Other comprehensive income (loss) before income taxes	-3,454,983		6,224,539	-24,270,243		16,391,933
Income tax expense (benefit)	-1,215,383		2,124,612	-8,303,035		5,582,454
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES	-2,239,600		4,099,927	-15,967,208		10,809,479
COMPREHENSIVE INCOME (LOSS)	($290,807)		$5,059,495	($14,783,639)		$12,078,609
[1]	These items appear within net realized gains on investments in the consolidated income statements.
[2]	These items are included in the computation of net periodic benefit cost (see Note 10).

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2011	$1,152,737	$8,832,222	$13,605,484	$34,073,278	$57,663,721
Net income (loss)	'	'	'	1,269,130	1,269,130
Other comprehensive income (loss), net	'	'	10,809,479	'	10,809,479
Cash dividends	'	'	'	-265,129	-265,129
Issuances of common stock, net	4,305	75,775	'	15,724	95,804
Balance at Sep. 30, 2012	1,157,042	8,907,997	24,414,963	35,093,003	69,573,005
Balance at Dec. 31, 2012	1,141,886	8,908,243	22,539,724	35,642,931	68,232,784
Net income (loss)	'	'	'	1,183,569	1,183,569
Other comprehensive income (loss), net	'	'	-15,967,208	'	-15,967,208
Cash dividends	'	'	'	-285,471	-285,471
Repurchases of common stock, net	-8,724	'	'	-192,628	-201,352
Balance at Sep. 30, 2013	$1,133,162	$8,908,243	$6,572,516	$36,348,401	$52,962,322

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
NET CASH PROVIDED BY OPERATING ACTIVITIES	$12,964,120	$4,146,457
INVESTING ACTIVITIES	'	'
Purchases of available-for-sale securities	-89,724,430	-30,571,100
Sales of available-for-sale securities	35,306,604	5,836,594
Maturities of available-for-sale securities	40,899,144	20,007,088
Acquisitions of mortgage loans on real estate	-1,102,901	-2,165,000
Payments of mortgage loans on real estate	1,371,915	4,125,114
Purchases of state-guaranteed receivables	'	-1,247,494
Payments of state-guaranteed receivables	481,280	426,780
Acquisitions of short-term investments	'	-34,188
Sales and maturities of short-term investments	'	17,094
Net change in payable (receivable) for securities	219,158	-87,103
Net reductions of other investments	230,853	627,523
Net additions to property and equipment	-76,139	-623,697
NET CASH USED IN INVESTING ACTIVITIES	-11,749,516	-3,688,389
FINANCING ACTIVITIES	'	'
Receipts from universal life policies credited to policyholder account balances	4,002,096	4,295,466
Return of policyholder account balances on universal life policies	-7,008,323	-6,323,287
Payments on notes payable	-3,060,944	-3,286,553
Proceeds from notes payable	2,764,381	2,741,666
Dividends paid	-285,471	-265,129
Issuances (repurchases) of common stock, net	-201,352	95,804
NET CASH USED IN FINANCING ACTIVITIES	-3,789,613	-2,742,033
DECREASE IN CASH AND CASH EQUIVALENTS	-2,575,009	-2,283,965
Cash and cash equivalents at beginning of period	6,009,905	6,534,616
CASH AND CASH EQUIVALENTS AT END OF PERIOD	3,434,896	4,250,651
Sale of Investment in Derivative [Member]	'	'
INVESTING ACTIVITIES	'	'
Sale of investment in derivative	$645,000	'

Note_1_Nature_of_Operations

Note 1 - Nature of Operations	9 Months Ended
	Sep. 30, 2013
Disclosure Text Block [Abstract]	'
Nature of Operations [Text Block]	'
	NOTE 1 - Nature of Operations
	Investors Heritage Capital Corporation is the holding company of Investors Heritage Life Insurance Company; Investors Heritage Printing, Inc., a printing company; Investors Heritage Financial Services Group, Inc., an insurance marketing company; is the sole member of At Need Funding, LLC, a limited liability company that provides advance funding of funerals in exchange for the irrevocable assignment of life insurance policies from other nonaffiliated companies; and is the sole member of Heritage Funding, LLC, a limited liability company that invests in various business ventures. These entities are collectively hereinafter referred to as the “Company”. In excess of 99% of Investors Heritage Capital’s consolidated revenue is generated by Investors Heritage Life.
	Our principal operations involve the sale and administration of various insurance and annuity products, including, but not limited to, participating and non-participating whole life, limited pay life, universal life, annuity contracts, credit life, credit accident and health and group insurance policies. The principal markets for the Company’s products are in Kentucky, North Carolina, Georgia, Indiana, Michigan, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.

Note_2_Basis_of_Presentation

Note 2 - Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Disclosure Text Block [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	NOTE 2 - Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the quarter and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. For further information, refer to the consolidated financial statements and footnotes thereto for the year ended December 31, 2012, as included in our Annual Report on Form 10-K.
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
	Management has evaluated all events subsequent to September 30, 2013 through the date that these financial statements have been issued.

Note_3_New_Accounting_Pronounc

Note 3 - New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2013
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'
	NOTE 3 – New Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board issued guidance regarding the reporting of reclassifications out of accumulated other comprehensive income. The guidance requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. Significant amounts reclassified out of accumulated other comprehensive income that are required under U.S. generally accepted accounting principles to be reclassified to net income in their entirety in the same reporting period must be presented either on the face of the statement, where net income is presented, or in the footnotes. For amounts that are not required under U.S. generally accepted accounting principles to be reclassified in their entirety to net income, entities are required to cross-reference to other disclosures that are required by U.S. generally accepted accounting principles that provide additional detail about those amounts. This guidance is effective prospectively for reporting periods beginning after December 15, 2012. The Company adopted this new guidance as of January 1, 2013 with no material impact to the consolidated financial statements.
	All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not relate to accounting policies and procedures pertinent to the Company at this time.

Note_4_Investments

Note 4 - Investments	9 Months Ended
	Sep. 30, 2013
Investments Disclosure [Abstract]	'
Investments Disclosure [Text Block]	'
	NOTE 4 – Investments
	Investments in available-for-sale securities are summarized as follows:
	30-Sep-13	Amortized			Gross			Gross			Fair
		Cost			Unrealized			Unrealized			Value
					Gains			Losses
	Fixed maturity securities:
	U.S. government obligations	$	37,820,939		$	1,321,518		$	376,113		$	38,766,344
	States and political subdivisions		41,688,611			3,682,333			36,713			45,334,231
	Corporate		217,067,499			13,006,952			2,210,279			227,864,172
	Foreign		54,839,273			2,656,775			1,514,104			55,981,944
	Asset-backed securities		3,351,821			147,493			-			3,499,314
	Mortgage-backed securities (MBS):
	Commercial MBS		5,009,021			205,747			-			5,214,768
	Residential MBS		45,670,958			1,957,381			-			47,628,339
	Corporate redeemable preferred stock		361,720			-			36,889			324,831
	Total fixed maturity securities		405,809,842			22,978,199			4,174,098			424,613,943
	Equity securities:
	U.S. agencies		687,000			-			-			687,000
	Mutual funds		318,283			7,803			-			326,086
	Corporate common stock		4,033,275			268,954			486,313			3,815,916
	Corporate nonredeemable preferred stock		155,268			-			20,442			134,826
	Total equity securities		5,193,826			276,757			506,755			4,963,828
	Total	$	411,003,668		$	23,254,956		$	4,680,853		$	429,577,771
	31-Dec-12	Amortized			Gross			Gross			Fair
		Cost			Unrealized			Unrealized			Value
					Gains			Losses
	Fixed maturity securities:
	U.S. government obligations	$	47,634,952		$	4,263,920		$	-		$	51,898,872
	States and political subdivisions		46,323,487			7,522,997			-			53,846,484
	Corporate		207,553,209			23,818,640			93,765			231,278,084
	Foreign		50,000,420			4,748,130			11,680			54,736,870
	Asset-backed securities		4,460,090			289,373			529			4,748,934
	Mortgage-backed securities (MBS):
	Commercial MBS		6,429,641			407,386			-			6,837,027
	Residential MBS		31,968,578			3,008,564			-			34,977,142
	Total fixed maturity securities		394,370,377			44,059,010			105,974			438,323,413
	Equity securities:
	U.S. agencies		681,300			-			-			681,300
	Mutual funds		318,283			3,054			-			321,337
	Corporate common stock		117,468			266,532			-			384,000
	Total equity securities		1,117,051			269,586			-			1,386,637
	Total	$	395,487,428		$	44,328,596		$	105,974		$	439,710,050
	The following table summarizes, for all securities in an unrealized loss position as of the balance sheet dates, 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.
		30-Sep-13									31-Dec-12
		Estimated			Gross			Number			Estimated			Gross		Number
		Fair Value			Unrealized			of			Fair Value			Unrealized		of
					Loss			Securities						Loss		Securities
	Fixed Maturities:
	Less than 12 months:
	U.S. government obligations	$	12,598,904		$	376,113			3		$	-		$	-		-
	States and political subdivisions		713,288			36,713			1			-			-		-
	Corporate		55,415,549			2,210,279			41			4,648,363			88,805		5
	Foreign		27,580,179			1,514,104			16			988,320			11,680		1
	Corporate redeemable preferred stock		324,831			36,889			8			-			-		-
	Greater than 12 months:
	Corporate		-			-			-			243,040			4,960		1
	Asset-backed securities		-			-			-			59,097			529		1
	Total fixed maturities		96,632,751			4,174,098			69			5,938,820			105,974		8
	Equities:
	Less than 12 months:
	Corporate common stock		3,054,622			486,313			31			-			-		-
	Corporate nonredeemable preferred stock		134,826			20,442			2			-			-		-
	Total equities		3,189,448			506,755			33			-			-		-
Total	$	99,822,199		$	4,680,853			102		$	5,938,820		$	105,974		8
As of September 30, 2013, all of the above fixed maturity securities individually had a fair value to cost ratio equal to or greater than 83% and the equity securities had a fair value to cost ratio equal to or exceeding 68%. As of December 31, 2012, all of the above fixed maturity securities had a fair value to cost ratio equal to or greater than 96% and the equity securities noted above had a fair value to cost ratio equal to or exceeding 100%.
The Company’s decision to record an impairment loss is primarily based on whether the security’s fair value is likely to remain significantly below its book value in light of all the factors considered. Factors that are considered include the length of time the security’s fair value has been below its carrying amount, the severity of the decline in value, the credit worthiness of the issuer, and the coupon and/or dividend payment history of the issuer. The Company also assesses whether it intends to sell or whether it is more likely than not that it may be required to sell the security prior to its recovery in value. For any fixed maturity securities that are other-than-temporarily impaired, the Company determines the portion of the other-than-temporary impairment that is credit-related and the portion that is related to other factors. The credit-related portion is the difference between the expected future cash flows and the amortized cost basis of the fixed maturity security, and that difference is charged to earnings. The non-credit-related portion representing the remaining difference to fair value is recognized in other comprehensive income (loss). Only in the case of a credit-related impairment where management has the intent to sell the security, or it is more likely than not that it will be required to sell the security before recovery of its cost basis, is a fixed maturity security adjusted to fair value and the resulting losses recognized in realized gains (losses) in the consolidated statements of income. Any other-than-temporary impairments on equity securities are recorded in the consolidated statements of income in the periods incurred as the difference between fair value and cost. Based on our review, the Company experienced no other-than-temporary impairments during the quarters or nine months ended September 30, 2013 or 2012.
Management believes that the Company will fully recover its cost basis in the securities held at September 30, 2013, 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.
Net unrealized gains for investments classified as available-for-sale are presented below, net of the effect on deferred income taxes and deferred acquisition costs assuming that the appreciation (depreciation) had been realized.
	September 30,			December 31,
	2013			2012
Net unrealized appreciation on available-for sale securities	$	18,574,103		$	44,222,622
Adjustment to deferred acquisition costs		(514,131	)		(1,312,922	)
Deferred income taxes		(6,321,537	)		(14,821,597	)
Net unrealized appreciation on available-for sale securities	$	11,738,435		$	28,088,103
The amortized cost and fair value of fixed maturity securities at September 30, 2013, by contractual maturity, are presented below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
	Available-for-Sale
	Amortized			Fair
	Cost			Value
Due in one year or less	$	3,501,324		$	3,551,783
Due after one year through five years		67,647,273			74,113,360
Due after five years through ten years		190,847,087			197,532,851
Due after ten years		92,772,459			96,248,011
Due at multiple maturity dates		50,679,979			52,843,107
Corporate redeemable preferred stock		361,720			324,831
Total	$	405,809,842		$	424,613,943
Proceeds for the quarters and nine months ended September 30, 2013 and 2012 from sales and maturities of investments in available-for-sale securities, as well as gross gains and gross losses realized, are presented below.
	Quarter Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Proceeds from sales and maturities	$	47,541,392		$	6,723,467		$	76,205,748		$	25,843,682
Gross realized gains		2,436,585			251,815			2,544,968			455,444
Gross realized losses		(17,779	)		(1,888	)		(48,905	)		(7,258	)
Presented below is investment information, including the accumulated quarter and year-to-date change in net unrealized investment gains or losses. Additionally, the table shows the change in net unrealized investment gains (losses) and the amount of realized investment gains (losses) on fixed maturities and equity securities for the quarters and nine months ended September 30, 2013 and 2012.
	Quarter Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Change in unrealized investment gains (losses):
Available-for-sale:
Fixed maturities	$	(3,668,612	)	$	6,239,402		$	(25,148,935	)	$	13,509,692
Equity securities		(107,730	)		(19,751	)		(499,584	)		33,733
Realized investment gains:
Available-for-sale:
Fixed maturities	$	2,383,513		$	186,496		$	2,473,160		$	384,755
Equity securities		35,293			63,431			22,903			63,431
In addition to the realized investment gains and losses above, the Company also experienced a realized loss of $14,006 during the nine months ended September 30, 2013 relative to the demolition of a building owned by the Company.
During the third quarter of 2013, the Company initiated a program to strategically sell certain fixed maturities to generate realized gains within the investment portfolio. The Company completed all of the identified sales prior to September 30, 2013.
The Company is required to hold assets on deposit for the benefit of policyholders in accordance with statutory rules and regulations. At September 30, 2013 and December 31, 2012, these required deposits had a total fair value of $25,562,891 and $26,169,953, respectively.
The Company owns certain investments in state-guaranteed receivables. These investments represent an assignment of the future rights to cash flows from lottery winners purchased at a discounted price. Payments on these investments are made by state run lotteries and guaranteed by the states. The state-guaranteed receivables are carried at their amortized cost basis on the balance sheet. At September 30, 2013, the amortized cost and estimated fair value of state-guaranteed receivables, by contractual maturity, are summarized as follows:
	Amortized			Fair
	Cost			Value
Due in one year or less	$	700,932		$	708,325
Due after one year through five years		2,436,995			2,596,551
Due after five years through ten years		2,858,089			3,377,206
Due after ten years		2,065,039			2,738,787
Total	$	8,061,055		$	9,420,869
The amortized cost of state-guaranteed receivables, by state, is summarized as follows:
	September 30,			December 31,
	2013			2012
New York	$	3,861,199		$	3,973,862
Massachusetts		1,909,363			1,838,166
Georgia		1,521,928			1,531,078
Pennsylvania		284,989			270,657
California		192,369			202,563
Texas		208,900			198,260
Ohio		82,307			97,083
Total	$	8,061,055		$	8,111,669
Prior to the third quarter of 2013, the Company owned a $3,000,000 position in a Morgan Stanley market-indexed note, which paid 1% interest annually and matured in six years from the issue date. At maturity, the Company would have participated at 110% of any increase in the Dow Jones Industrial Average since the purchase date, but was guaranteed against market-related downside risk. Accordingly, a portion of the investment was classified as a derivative and bifurcated for reporting purposes. The derivative portion, having a cost basis of $645,000 calculated at 21.5% of the total value of the purchase price of the note, was reported as an investment in derivative on the balance sheet. The remaining non-derivative portion of the note was reported within fixed maturities on the balance sheet. This derivative was marked-to-market through the income statement, with the change in value reported as a component of investment income on the income statement. This investment was sold during the third quarter of 2013 for $3,918,083, generating a realized gain of $918,083. This realized gain was partially offset by the reduction in investment income previously recognized that was associated with the removal of the mark-to-market adjustment, as shown below.
Major categories of net investment income are summarized as follows:
	Quarter Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Fixed maturities	$	4,874,638		$	4,866,812		$	14,480,549		$	14,583,269
Equity securities		50,970			13,637			100,701			41,021
Mortgage loans on real estate		264,056			356,252			816,454			1,027,434
Policy loans		121,699			123,004			357,789			367,497
State-guaranteed receivables		140,790			118,680			430,666			346,676
Gain (loss) on investment in derivative		(240,600	)		4,800			2,400			(68,100	)
Other		57,099			22,987			176,112			79,383
Gross investment income		5,268,652			5,506,172			16,364,671			16,377,180
Investment expenses		282,654			261,062			847,674			783,183
Net investment income	$	4,985,998		$	5,245,110		$	15,516,997		$	15,593,997

Note_5_Fair_Values_of_Financia

Note 5 - Fair Values of Financial Instruments	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	NOTE 5 – Fair Values of Financial Instruments
	The fair value of a financial instrument is the estimated amount at which the instrument could be exchanged in an orderly transaction between knowledgeable, unrelated, willing parties, i.e., not in a forced transaction.  The estimated fair value of a financial instrument may differ from the amount that could be realized if the security was sold in an immediate sale, e.g., a forced transaction.  Additionally, the valuation of investments is more subjective when markets are less liquid due to the lack of market based inputs, which may increase the potential that the estimated fair value of an investment is not reflective of the price at which an actual transaction would occur.
	The Company holds fixed maturities and equity securities that are measured and reported at fair market value on the balance sheet. The Company is also required to disclose fair value estimates for other financial instruments not required to be carried at market value on the balance sheet. The Company determines the fair market values of its financial instruments based on the fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value, as follows:
	Level 1 - Quoted prices in active markets for identical assets or liabilities.
	Level 2 - 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 for substantially the full term of the assets or liabilities.
	Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The unobservable inputs reflect the Company’s own assumptions about the inputs that market participants would use.
	The Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into the three-level fair value hierarchy. If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. 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.
	Valuation of Investments Reported at Fair Value in Financial Statements
	The Company’s Level 1 investments include equity securities that are traded in an active exchange market, as well as one U.S. agency equity security whose value is set by government statute.
	The Company’s Level 2 investments include fixed maturities with quoted prices that are traded less frequently than exchange-traded instruments or instruments whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes the majority of our fixed maturities, where fair values are obtained from a nationally recognized, third-party pricing service.
	The Company’s Level 3 investments include financial instruments whose value cannot be obtained through a pricing service and must be determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category currently includes one private equity investment and two fixed maturity securities where independent pricing inputs were not able to be obtained for a significant portion of the underlying assets. For the fixed maturities within this level, the Company utilizes the assistance of its third-party investment advisor to estimate the fair value based on non-binding broker quotes and internal models using unobservable assumptions about market participants. For the private equity investment, the Company establishes fair value based on the most recent trading activity as well as a review of the underlying financial statements of the entity. The Company’s Level 3 segment also included the investment in derivative related to the bifurcated equity-indexed portion of a market-indexed note prior to its sale during the third quarter of 2013. The value of the derivative portion of this investment was derived from an option pricing model that utilizes the current Dow Jones Industrial Average compared to the strike price in the note, along with various other market assumptions including those regarding volatility and dividend yields.
	The following table presents the Company’s fair value hierarchy for those financial instruments measured and reported at fair value on a recurring basis as of September 30, 2013 and December 31, 2012.
		30-Sep-13
		Level 1			Level 2			Level 3		Total
	Fixed maturities:
	U.S. government obligations	$	-		$	38,766,344		$	-	$	38,766,344
	States and political subdivisions		-			45,334,231			-		45,334,231
	Corporate		-			225,909,172			1,955,000		227,864,172
	Foreign		-			54,099,444			1,882,500		55,981,944
	Asset-backed securities		-			3,499,314			-		3,499,314
	Mortgage-backed securities:
	Commercial MBS		-			5,214,768			-		5,214,768
	Residential MBS		-			47,628,339			-		47,628,339
	Corporate redeemable preferred stock		324,831			-			-		324,831
	Total fixed maturities	$	324,831		$	420,451,612		$	3,837,500	$	424,613,943
	Equity securities:
	U.S. agencies	$	687,000		$	-		$	-	$	687,000
	Mutual funds		326,086			-			-		326,086
	Corporate common stock		3,431,916			-			384,000		3,815,916
	Corporate nonredeemable preferred stock		134,826			-			-		134,826
	Total equity securities	$	4,579,828		$	-		$	384,000	$	4,963,828
		31-Dec-12
		Level 1			Level 2			Level 3		Total
	Fixed maturities:
	U.S. government obligations	$	-		$	51,898,872		$	-	$	51,898,872
	States and political subdivisions		-			53,846,484			-		53,846,484
	Corporate		-			227,443,614			3,834,470		231,278,084
	Foreign		-			54,736,870			-		54,736,870
	Asset-backed securities		-			4,748,934			-		4,748,934
	Mortgage-backed securities:
	Commercial MBS		-			6,837,027			-		6,837,027
	Residential MBS		-			34,977,142			-		34,977,142
	Total fixed maturities	$	-		$	434,488,943		$	3,834,470	$	438,323,413
	Equity securities:
	U.S. agencies	$	681,300		$	-		$	-	$	681,300
	Mutual funds		321,337			-			-		321,337
	Corporate common stock		-			-			384,000		384,000
	Total equity securities	$	1,002,637		$	-		$	384,000	$	1,386,637
	Investment in derivative	$	-		$	-		$	642,600	$	642,600
	The following table provides a summary of changes in fair value of our Level 3 financial instruments reported at fair value for the quarters and nine months ended September 30, 2013 and 2012.
		Quarter Ended September 30, 2013
		Corporate			Foreign			Corporate		Investment			Total
								Common		in
								Stock		Derivative
	Beginning balance	$	1,890,000		$	1,995,000		$	384,000	$	885,600		$	5,154,600
	Transfers into Level 3		-			-			-		-			-
	Transfers out of Level 3		(1,887,820	)		-			-		-			(1,887,820	)
	Purchases		2,001,500			-			-		-			2,001,500
	Sales		(13	)		(475	)		-		(645,000	)		(645,488	)
	Total gains or losses:
	Included in earnings		-			-			-		(240,600	)		(240,600	)
	Included in other comprehensive loss		(48,667	)		(112,025	)		-		-			(160,692	)
	Ending balance	$	1,955,000		$	1,882,500		$	384,000	$	-		$	4,221,500
	Quarter Ended September 30, 2012
	Corporate			Foreign			Corporate		Invstment			Total
							Common		in
							Stock		Derivative
Beginning balance	$	2,089,651		$	-		$	352,000	$	679,800		$	3,121,451
Transfers into Level 3		-			-			-		-			-
Transfers out of Level 3		-			-			-		-			-
Purchases		-			-			-		-			-
Sales		(52,974	)		-			-		-			(52,974	)
Total gains or losses:
Included in earnings		-			-			-		4,800			4,800
Included in other comprehensive income		45,366			-			-		-			45,366
Ending balance	$	2,082,043		$	-		$	352,000	$	684,600		$	3,118,643
	Nine Months Ended September 30, 2013
	Corporate			Foreign			Corporate		Investment			Total
							Common		in
							Stock		Derivative
Beginning balance	$	3,834,470		$	-		$	384,000	$	642,600		$	4,861,070
Transfers into Level 3		-			-			-		-			-
Transfers out of Level 3		(5,722,290	)		-			-		-			(5,722,290	)
Purchases		4,001,500			2,025,000			-		-			6,026,500
Sales		(13	)		(810	)		-		(645,000	)		(645,823	)
Total gains or losses:
Included in earnings		-			-			-		2,400			2,400
Included in other comprehensive loss		(158,667	)		(141,690	)		-		-			(300,357	)
Ending balance	$	1,955,000		$	1,882,500		$	384,000	$	-		$	4,221,500
	Nine Months Ended September 30, 2012
	Corporate			Foreign			Corporate		Investment			Total
							Common		in
							Stock		Derivative
Beginning balance	$	2,133,079		$	-		$	352,000	$	752,700		$	3,237,779
Transfers into Level 3		-			-			-		-			-
Transfers out of Level 3		-			-			-		-			-
Purchases		-			-			-		-			-
Sales		(102,008	)		-			-		-			(102,008	)
Total gains or losses:
Included in earnings		-			-			-		(68,100	)		(68,100	)
Included in other comprehensive income		50,972			-			-		-			50,972
Ending balance	$	2,082,043		$	-		$	352,000	$	684,600		$	3,118,643
The Company experienced no transfers between Level 1 and Level 2 during the quarters or nine months ended September 30, 2013 or 2012. The Company experienced one transfer of a corporate fixed maturity from Level 3 to Level 2 during the quarter ended September 30, 2013. The Company had five corporate fixed maturities that transferred from Level 3 to Level 2 during the nine months ended September 30, 2013. The Company experienced no transfers from Level 2 to Level 3 during the quarter or nine months ended September 30, 2012. Transfers in and/or out of Level 3 are primarily attributable to changes in the availability of market observable information and re-evaluation of the observability of pricing inputs.
The unrealized gains (losses) on Level 3 investments, other than the investment in derivative, are recorded as a component of accumulated other comprehensive income (loss), net of tax, in accordance with required accounting for our available-for-sale portfolio. The unrealized gains (losses) on the investment in derivative are reported in earnings as a component of investment income.
Financial Instruments Disclosed, but not Carried, at Fair Value
The following disclosure presents the carrying values and estimated fair values of the Company’s financial instruments disclosed, but not carried, at fair value as of September 30, 2013 and December 31, 2012, and the level within the fair value hierarchy at which such assets and liabilities are measured on a recurring basis. The fair values for insurance contracts other than investment-type contracts are not required to be disclosed. The estimated fair value amounts have been determined using available market information and appropriate valuation methodologies. However, considerable judgment was required to interpret market data to develop these estimates. Accordingly, the estimates are not necessarily indicative of the amounts which could be realized in a current market exchange. The use of different market assumptions or estimation methodologies may have a material effect on the fair value amounts.
	30-Sep-13
	Carrying			Fair			Level 1		Level 2			Level 3
	Amount			Value
Assets:
Mortgage loans on real estate:
Commercial	$	15,744,254		$	16,324,172		$	-	$	16,324,172		$	-
Residential		609,378			602,513			-		602,513			-
Policy loans		6,703,738			6,703,738			-		-			6,703,738
State-guaranteed receivables		8,061,055			9,420,869			-		9,420,869			-
Other invested assets		3,253,343			3,253,343			-		-			3,253,343
Cash and cash equivalents		3,434,896			3,434,896			3,434,896		-			-
Accrued investment income		4,280,991			4,280,991			-		-			4,280,991
Cash value of company-owned life insurance		11,523,836			11,523,836			-		-			11,523,836
Liabilities:
Policyholder deposits (Investment-type contracts)		53,897,202			55,071,873			-		-			55,071,873
Policy claims		4,134,431			4,134,431			-		-			4,134,431
Obligations under capital leases		358,350			358,350			-		-			358,350
Notes payable		3,182,050			3,185,136			-		-			3,185,136
	31-Dec-12
	Carrying			Fair			Level 1		Level 2			Level 3
	Amount			Value
Assets:
Mortgage loans on real estate:
Commercial	$	16,604,183		$	17,365,363		$	-	$	17,365,363		$	-
Residential		16,107			18,068			-		18,068			-
Policy loans		6,781,751			6,781,751			-		-			6,781,751
State-guaranteed receivables		8,111,669			10,186,226			-		10,186,226			-
Other invested assets		3,420,189			3,420,189			-		-			3,420,189
Cash and cash equivalents		6,009,905			6,009,905			6,009,905		-			-
Accrued investment income		5,163,783			5,163,783			-		-			5,163,783
Cash value of company-owned life insurance		10,844,489			10,844,489			-		-			10,844,489
Liabilities:
Policyholder deposits (Investment-type contracts)		54,602,229			58,704,154			-		-			58,704,154
Policy claims		1,894,727			1,894,727			-		-			1,894,727
Obligations under capital leases		568,214			568,214			-		-			568,214
Notes payable		3,478,613			3,485,503			-		-			3,485,503
The following methods and assumptions were used in estimating the fair value disclosures for financial instruments in the accompanying financial statements and notes thereto:
Mortgage loans on real estate: The fair values for mortgage loans are estimated using discounted cash flow analyses. For commercial loans, the market interest rate was determined using the actual spot rate yield curve in effect at the end of each period, as determined by recent new loan activity. For residential mortgage loans, the market interest rate was assumed to be the average yield on new purchases less an expense factor.
State-guaranteed receivables: The fair values for state-guaranteed receivables are estimated using discounted cash flow analyses, using the average Citigroup Pension Liability Index in effect at the end of each period.
Cash and cash equivalents: The carrying amounts reported for these financial instruments approximate their fair values given the highly liquid nature of the instruments.
Cash value of company-owned life insurance: The carrying values and fair values for these policies are based on the current cash surrender values of the policies.
Investment-type contracts: The fair value for liabilities under investment-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 the nonperformance risk of the liabilities.
Notes payable: The fair values for notes payable on commercial loans with fixed interest rates are estimated using discounted cash flow analyses, assuming current interest rate assumptions for similar borrowings based on information gathered from market loan brokers. The fair value for notes payable with floating interest rates and promissory notes approximate the unpaid principal balances on such notes.
Policy loans, other invested assets, accrued investment income, policy claims and obligations under capital leases: The carrying values of these instruments approximate their fair values and are disclosed in Level 3 of the hierarchy.

Note_6_Earnings_per_Share

Note 6 - Earnings per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	NOTE 6 - Earnings per Share
	Earnings per share of common stock were computed based on the weighted average number of common shares outstanding during each period. The weighted average number of shares outstanding for the quarters ended September 30, 2013 and 2012 were 1,135,559 and 1,156,783, respectively. The weighted average number of shares outstanding for the nine months ended September 30, 2013 and 2012 were 1,139,164 and 1,155,083, respectively.

Note_7_Segment_Data

Note 7 - Segment Data	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	NOTE 7 - Segment Data
	The Company operates in four segments as shown in the following table. All segments include both individual and group insurance. Identifiable revenues, expenses and assets are assigned directly to the applicable segment. Net investment income, realized gains and losses, and invested assets are generally allocated to the insurance and the corporate segments in proportion to policy liabilities and stockholders' equity, respectively. Certain assets, such as property and equipment and leased property under capital leases, are allocated between the Administrative and financial services segment and the Corporate and other segment. Investors Heritage Financial revenue and income associated with credit administrative services is assigned to the Administrative and financial services segment, along with fees relative to third party administrative services. Any remaining revenue and income is assigned to the Corporate and other segment. Results for the parent company, Investors Heritage Printing, At Need Funding and Heritage Funding, after elimination of intercompany amounts, are allocated to the Corporate and other segment.
		Quarter Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Revenue:
	Preneed and burial products	$	13,121,547		$	12,433,393		$	38,382,769		$	37,401,694
	Traditional and universal life products		9,318,715			5,028,839			23,448,640			14,610,689
	Administrative and financial services		282,157			357,449			925,669			1,090,662
	Corporate and other		(43,881	)		207,200			584,789			466,464
	Total revenue	$	22,678,538		$	18,026,881		$	63,341,867		$	53,569,509
	Pre-tax income (loss) from operations:
	Preneed and burial products	$	555,869		$	905,756		$	563,079		$	1,074,170
	Traditional and universal life products		2,353,229			403,491			953,650			734,411
	Administrative and financial services		95,649			103,104			224,467			249,833
	Corporate and other		(220,758	)		(41,538	)		(50,384	)		(245,370	)
	Total pre-tax income	$	2,783,989		$	1,370,813		$	1,690,812		$	1,813,044
	At September 30, 2013, the Company’s death and other benefits include an additional amount totaling $2,069,169 relative to a comparison of our life insurance policies against the Social Security Death Master File. This comparison was performed in compliance with a recently enacted Kentucky state law which follows a model law adopted by the National Conference of Insurance Legislators. This amount primarily affects the traditional and universal life segment, along with a much smaller impact on the final expense portion of the preneed and burial segment. The Company is in the process of researching the potential matches to determine that a valid claim exists, to locate beneficiaries and to pay benefits accordingly.

Note_8_Federal_Income_Taxes

Note 8 - Federal Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	NOTE 8 – Federal Income Taxes
	The provision for federal income taxes is based on the estimated effective annual tax rate. Deferred taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Income before federal income taxes differs from taxable income principally due to the dividends-received deduction; the 404(k) dividend deduction; the small life insurance company tax deduction; and non-taxable effects of company-owned life insurance premiums, cash value growth, and death benefit proceeds.
	We file U.S. federal income tax returns and income tax returns in various state jurisdictions. Our 2010 through 2012 U.S. federal tax years remain subject to income tax examination by tax authorities. We have no known uncertain tax benefits within our provision for income taxes. In addition, we do not believe the Company will be subject to any penalties or interest relative to any open tax years and, therefore, have not accrued any such amounts. However, should such a circumstance arise, it is our policy to classify any interest and penalties (if applicable) as income tax expense in the financial statements.

Note_9_Other_Comprehensive_Inc

Note 9 - Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2013
Disclosure Text Block [Abstract]	'
Comprehensive Income (Loss) Note [Text Block]	'
	NOTE 9 – Other Comprehensive Income (Loss)
	The following tables present the pretax components of the Company’s other comprehensive income (loss), and the related income tax expense (benefit) for each component, for the quarters and nine months ended September 30, 2013 and 2012.
		Quarter Ended September 30, 2013
		Pretax			Income Tax			Net of Tax
					Expense
					(Benefit)
	Other comprehensive loss:
	Change in net unrealized gains on available-for-sale securities:
	Unrealized holding losses arising during period	$	(1,357,536	)	$	(856,681	)	$	(500,855	)
	Reclassification adjustment for gains included in income		(2,418,806	)		(467,966	)		(1,950,840	)
	Adjustment for effect of deferred acquisition costs		128,198			43,589			84,609
	Net unrealized losses on investments		(3,648,144	)		(1,281,058	)		(2,367,086	)
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		193,161			65,675			127,486
	Total other comprehensive loss	$	(3,454,983	)	$	(1,215,383	)	$	(2,239,600	)
		Quarter Ended September 30, 2012
		Pretax			Income Tax			Net of Tax
					Expense
					(Benefit)
	Other comprehensive income:
	Change in net unrealized gains on available-for-sale securities:
	Unrealized holding gains arising during period	$	6,469,578		$	2,186,414		$	4,283,164
	Reclassification adjustment for gains included in income		(249,927	)		(63,464	)		(186,463	)
	Adjustment for effect of deferred acquisition costs		(166,471	)		(56,600	)		(109,871	)
	Net unrealized gains on investments		6,053,180			2,066,350			3,986,830
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		171,359			58,262			113,097
	Total other comprehensive income	$	6,224,539		$	2,124,612		$	4,099,927
		Nine Months Ended September 30, 2013
		Pretax			Income Tax			Net of Tax
					Expense
					(Benefit)
	Other comprehensive loss:
	Change in net unrealized gains on available-for-sale securities:
	Unrealized holding losses arising during period	$	(23,152,456	)	$	(8,271,465	)	$	(14,880,991	)
	Reclassification adjustment for gains included in income		(2,496,063	)		(500,184	)		(1,995,879	)
	Adjustment for effect of deferred acquisition costs		798,791			271,589			527,202
	Net unrealized losses on investments		(24,849,728	)		(8,500,060	)		(16,349,668	)
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		579,485			197,025			382,460
	Total other comprehensive loss	$	(24,270,243	)	$	(8,303,035	)	$	(15,967,208	)
		Nine Months Ended September 30, 2012
		Pretax			Income Tax			Net of Tax
					Expense
					(Benefit)
	Other comprehensive income:
	Change in net unrealized gains on available-for-sale securities:
	Unrealized holding gains arising during period	$	13,991,611		$	4,744,726		$	9,246,885
	Reclassification adjustment for gains included in income		(448,186	)		(130,765	)		(317,421	)
	Adjustment for effect of deferred acquisition costs		(360,841	)		(122,686	)		(238,155	)
	Net unrealized gains on investments		13,182,584			4,491,275			8,691,309
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		690,197			234,667			455,530
	Curtailment of defined benefit pension plan		2,519,152			856,512			1,662,640
	Net change in defined benefit pension plan		3,209,349			1,091,179			2,118,170
	Total other comprehensive income	$	16,391,933		$	5,582,454		$	10,809,479
	Realized gains and losses on the sales of investments are determined based upon the specific identification method and include provisions for other-than-temporary impairments where appropriate.
	The change in the components of the Company’s accumulated other comprehensive income, net of tax, for the nine months ended September 30, 2013 and 2012 are as follows:
		Unrealized Gains			Defined			Accumulated
		(Losses) on			Benefit			Other
		Available-For-Sale			Pension			Comprehensive
		Securities			Plans			Income
	For the nine months ended September 30, 2013:
Beginning balance	$	28,088,103		$	(5,548,379	)	$	22,539,724
Other comprehensive loss before reclassifications		(14,353,789	)		-			(14,353,789	)
Amounts reclassified from accumulated other comprehensive income		(1,995,879	)		382,460			(1,613,419	)
Net current period other comprehensive income (loss)		(16,349,668	)		382,460			(15,967,208	)
Ending balance	$	11,738,435		$	(5,165,919	)	$	6,572,516
For the nine months ended September 30, 2012:
Beginning balance	$	20,334,585		$	(6,729,101	)	$	13,605,484
Other comprehensive income		8,691,309			2,118,170			10,809,479
Ending balance	$	29,025,894		$	(4,610,931	)	$	24,414,963
The following table presents the pretax and the related income tax components of the amounts reclassified from the Company’s accumulated other comprehensive income to the Company’s consolidated statement of income for the quarter and nine months ended September 30, 2013.
	Quarter			Nine Months
	Ended			Ended
Reclassification Adjustments	30-Sep-13			30-Sep-13
Unrealized gains on available-for-sale securities:
Realized gains on sale of securities (a)	$	2,418,806		$	2,496,063
Income tax expense (c)		(467,966	)		(500,184	)
Net of tax		1,950,840			1,995,879
Defined benefit pension plans:
Amortization of actuarial net loss (b)		(193,161	)		(579,485	)
Income tax benefit (c)		65,675			197,025
Net of tax		(127,486	)		(382,460	)
Total reclassifications for the period	$	1,823,354		$	1,613,419
(a) These items appear within net realized gains on investments in the consolidated income statements.
(b) These items are included in the computation of net periodic benefit cost (see Note 10).
(c) These items appear within federal income taxes in the consolidated income statements.

Note_10_Employee_Benefit_Plans

Note 10 - Employee Benefit Plans	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]	'
Pension and Other Postretirement Benefits Disclosure [Text Block]	'
	NOTE 10 – Employee Benefit Plans
	Investors Heritage Capital Corporation sponsors a noncontributory defined benefit pension plan. Benefits under this plan were curtailed for covered employees effective as of June 30, 2012, and no further benefits are being earned under this plan. The following table provides the components of our net periodic benefit cost:
		Quarter Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Service cost	$	-		$	-		$	-		$	322,916
	Interest cost		167,180			247,561			501,540			783,205
	Expected return on plan assets		(298,146	)		(328,621	)		(894,438	)		(954,151	)
	Recognized actuarial net loss		193,161			171,359			579,485			690,197
	Net periodic benefit cost	$	62,195		$	90,299		$	186,587		$	842,167
	We previously disclosed in our financial statements for the year ended December 31, 2012 that the Company expected to contribute $1,440,000 to our defined benefit pension plan during 2013. Based on the current analysis of our funding requirements, we anticipate reducing the contribution for 2013 to $960,000. As of September 30, 2013, the Company had contributed $780,000 to the plan.

Note_11_Note_Payable

Note 11 - Note Payable	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	NOTE 11 – Notes Payable
	The Company renewed the Investors Heritage Capital Corporation Line of Credit and the At Need Funding Line of Credit during the third quarter of 2013. The Investors Heritage Capital Corporation Line of Credit remains for $150,000 with a new maturity date of September 20, 2015. Likewise, the At Need Funding Line of Credit also remains for $1,000,000 with a new maturity date of September 20, 2015. Interest is paid on both notes monthly at the prime rate, with a floor of 3.25%.

Note_4_Investments_Tables

Note 4 - Investments (Tables)	9 Months Ended
	Sep. 30, 2013
Investments Disclosure [Abstract]	'
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	'
	30-Sep-13	Amortized			Gross			Gross			Fair
		Cost			Unrealized			Unrealized			Value
					Gains			Losses
	Fixed maturity securities:
	U.S. government obligations	$	37,820,939		$	1,321,518		$	376,113		$	38,766,344
	States and political subdivisions		41,688,611			3,682,333			36,713			45,334,231
	Corporate		217,067,499			13,006,952			2,210,279			227,864,172
	Foreign		54,839,273			2,656,775			1,514,104			55,981,944
	Asset-backed securities		3,351,821			147,493			-			3,499,314
	Mortgage-backed securities (MBS):
	Commercial MBS		5,009,021			205,747			-			5,214,768
	Residential MBS		45,670,958			1,957,381			-			47,628,339
	Corporate redeemable preferred stock		361,720			-			36,889			324,831
	Total fixed maturity securities		405,809,842			22,978,199			4,174,098			424,613,943
	Equity securities:
	U.S. agencies		687,000			-			-			687,000
	Mutual funds		318,283			7,803			-			326,086
	Corporate common stock		4,033,275			268,954			486,313			3,815,916
	Corporate nonredeemable preferred stock		155,268			-			20,442			134,826
	Total equity securities		5,193,826			276,757			506,755			4,963,828
	Total	$	411,003,668		$	23,254,956		$	4,680,853		$	429,577,771
	31-Dec-12	Amortized			Gross			Gross			Fair
		Cost			Unrealized			Unrealized			Value
					Gains			Losses
	Fixed maturity securities:
	U.S. government obligations	$	47,634,952		$	4,263,920		$	-		$	51,898,872
	States and political subdivisions		46,323,487			7,522,997			-			53,846,484
	Corporate		207,553,209			23,818,640			93,765			231,278,084
	Foreign		50,000,420			4,748,130			11,680			54,736,870
	Asset-backed securities		4,460,090			289,373			529			4,748,934
	Mortgage-backed securities (MBS):
	Commercial MBS		6,429,641			407,386			-			6,837,027
	Residential MBS		31,968,578			3,008,564			-			34,977,142
	Total fixed maturity securities		394,370,377			44,059,010			105,974			438,323,413
	Equity securities:
	U.S. agencies		681,300			-			-			681,300
	Mutual funds		318,283			3,054			-			321,337
	Corporate common stock		117,468			266,532			-			384,000
	Total equity securities		1,117,051			269,586			-			1,386,637
	Total	$	395,487,428		$	44,328,596		$	105,974		$	439,710,050
Schedule of Unrealized Loss on Investments [Table Text Block]	'
		30-Sep-13									31-Dec-12
		Estimated			Gross			Number			Estimated			Gross		Number
		Fair Value			Unrealized			of			Fair Value			Unrealized		of
					Loss			Securities						Loss		Securities
	Fixed Maturities:
	Less than 12 months:
	U.S. government obligations	$	12,598,904		$	376,113			3		$	-		$	-		-
	States and political subdivisions		713,288			36,713			1			-			-		-
	Corporate		55,415,549			2,210,279			41			4,648,363			88,805		5
	Foreign		27,580,179			1,514,104			16			988,320			11,680		1
	Corporate redeemable preferred stock		324,831			36,889			8			-			-		-
	Greater than 12 months:
	Corporate		-			-			-			243,040			4,960		1
	Asset-backed securities		-			-			-			59,097			529		1
	Total fixed maturities		96,632,751			4,174,098			69			5,938,820			105,974		8
	Equities:
	Less than 12 months:
	Corporate common stock		3,054,622			486,313			31			-			-		-
	Corporate nonredeemable preferred stock		134,826			20,442			2			-			-		-
	Total equities		3,189,448			506,755			33			-			-		-
	Total	$	99,822,199		$	4,680,853			102		$	5,938,820		$	105,974		8
Unrealized Gain (Loss) on Investments [Table Text Block]	'
		September 30,			December 31,
		2013			2012
	Net unrealized appreciation on available-for sale securities	$	18,574,103		$	44,222,622
	Adjustment to deferred acquisition costs		(514,131	)		(1,312,922	)
	Deferred income taxes		(6,321,537	)		(14,821,597	)
	Net unrealized appreciation on available-for sale securities	$	11,738,435		$	28,088,103
Investments Classified by Contractual Maturity Date [Table Text Block]	'
		Available-for-Sale
		Amortized			Fair
		Cost			Value
	Due in one year or less	$	3,501,324		$	3,551,783
	Due after one year through five years		67,647,273			74,113,360
	Due after five years through ten years		190,847,087			197,532,851
	Due after ten years		92,772,459			96,248,011
	Due at multiple maturity dates		50,679,979			52,843,107
	Corporate redeemable preferred stock		361,720			324,831
	Total	$	405,809,842		$	424,613,943
Realized Gain (Loss) on Investments [Table Text Block]	'
		Quarter Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Proceeds from sales and maturities	$	47,541,392		$	6,723,467		$	76,205,748		$	25,843,682
	Gross realized gains		2,436,585			251,815			2,544,968			455,444
	Gross realized losses		(17,779	)		(1,888	)		(48,905	)		(7,258	)
Realized and Unrealized Gains (Losses) on Investments [Table Text Block]	'
		Quarter Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Change in unrealized investment gains (losses):
	Available-for-sale:
	Fixed maturities	$	(3,668,612	)	$	6,239,402		$	(25,148,935	)	$	13,509,692
	Equity securities		(107,730	)		(19,751	)		(499,584	)		33,733
	Realized investment gains:
	Available-for-sale:
	Fixed maturities	$	2,383,513		$	186,496		$	2,473,160		$	384,755
	Equity securities		35,293			63,431			22,903			63,431
State Guaranteed Receivables, Classified by Contractual Maturity Date [Table Text Block]	'
		Amortized			Fair
		Cost			Value
	Due in one year or less	$	700,932		$	708,325
	Due after one year through five years		2,436,995			2,596,551
	Due after five years through ten years		2,858,089			3,377,206
	Due after ten years		2,065,039			2,738,787
	Total	$	8,061,055		$	9,420,869
Schedule Of Payments On State Guaranteed Receivables By State [Table Text Block]	'
		September 30,			December 31,
		2013			2012
	New York	$	3,861,199		$	3,973,862
	Massachusetts		1,909,363			1,838,166
	Georgia		1,521,928			1,531,078
	Pennsylvania		284,989			270,657
	California		192,369			202,563
	Texas		208,900			198,260
	Ohio		82,307			97,083
	Total	$	8,061,055		$	8,111,669
Investment Income [Table Text Block]	'
		Quarter Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Fixed maturities	$	4,874,638		$	4,866,812		$	14,480,549		$	14,583,269
	Equity securities		50,970			13,637			100,701			41,021
	Mortgage loans on real estate		264,056			356,252			816,454			1,027,434
	Policy loans		121,699			123,004			357,789			367,497
	State-guaranteed receivables		140,790			118,680			430,666			346,676
	Gain (loss) on investment in derivative		(240,600	)		4,800			2,400			(68,100	)
	Other		57,099			22,987			176,112			79,383
	Gross investment income		5,268,652			5,506,172			16,364,671			16,377,180
	Investment expenses		282,654			261,062			847,674			783,183
	Net investment income	$	4,985,998		$	5,245,110		$	15,516,997		$	15,593,997

Note_5_Fair_Values_of_Financia1

Note 5 - Fair Values of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
		30-Sep-13
		Level 1			Level 2			Level 3		Total
	Fixed maturities:
	U.S. government obligations	$	-		$	38,766,344		$	-	$	38,766,344
	States and political subdivisions		-			45,334,231			-		45,334,231
	Corporate		-			225,909,172			1,955,000		227,864,172
	Foreign		-			54,099,444			1,882,500		55,981,944
	Asset-backed securities		-			3,499,314			-		3,499,314
	Mortgage-backed securities:
	Commercial MBS		-			5,214,768			-		5,214,768
	Residential MBS		-			47,628,339			-		47,628,339
	Corporate redeemable preferred stock		324,831			-			-		324,831
	Total fixed maturities	$	324,831		$	420,451,612		$	3,837,500	$	424,613,943
	Equity securities:
	U.S. agencies	$	687,000		$	-		$	-	$	687,000
	Mutual funds		326,086			-			-		326,086
	Corporate common stock		3,431,916			-			384,000		3,815,916
	Corporate nonredeemable preferred stock		134,826			-			-		134,826
	Total equity securities	$	4,579,828		$	-		$	384,000	$	4,963,828
		31-Dec-12
		Level 1			Level 2			Level 3		Total
	Fixed maturities:
	U.S. government obligations	$	-		$	51,898,872		$	-	$	51,898,872
	States and political subdivisions		-			53,846,484			-		53,846,484
	Corporate		-			227,443,614			3,834,470		231,278,084
	Foreign		-			54,736,870			-		54,736,870
	Asset-backed securities		-			4,748,934			-		4,748,934
	Mortgage-backed securities:
	Commercial MBS		-			6,837,027			-		6,837,027
	Residential MBS		-			34,977,142			-		34,977,142
	Total fixed maturities	$	-		$	434,488,943		$	3,834,470	$	438,323,413
	Equity securities:
	U.S. agencies	$	681,300		$	-		$	-	$	681,300
	Mutual funds		321,337			-			-		321,337
	Corporate common stock		-			-			384,000		384,000
	Total equity securities	$	1,002,637		$	-		$	384,000	$	1,386,637
	Investment in derivative	$	-		$	-		$	642,600	$	642,600
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
		Quarter Ended September 30, 2013
		Corporate			Foreign			Corporate		Investment			Total
								Common		in
								Stock		Derivative
	Beginning balance	$	1,890,000		$	1,995,000		$	384,000	$	885,600		$	5,154,600
	Transfers into Level 3		-			-			-		-			-
	Transfers out of Level 3		(1,887,820	)		-			-		-			(1,887,820	)
	Purchases		2,001,500			-			-		-			2,001,500
	Sales		(13	)		(475	)		-		(645,000	)		(645,488	)
	Total gains or losses:
	Included in earnings		-			-			-		(240,600	)		(240,600	)
	Included in other comprehensive loss		(48,667	)		(112,025	)		-		-			(160,692	)
	Ending balance	$	1,955,000		$	1,882,500		$	384,000	$	-		$	4,221,500
		Quarter Ended September 30, 2012
		Corporate			Foreign			Corporate		Invstment			Total
								Common		in
								Stock		Derivative
	Beginning balance	$	2,089,651		$	-		$	352,000	$	679,800		$	3,121,451
	Transfers into Level 3		-			-			-		-			-
	Transfers out of Level 3		-			-			-		-			-
	Purchases		-			-			-		-			-
	Sales		(52,974	)		-			-		-			(52,974	)
	Total gains or losses:
	Included in earnings		-			-			-		4,800			4,800
	Included in other comprehensive income		45,366			-			-		-			45,366
	Ending balance	$	2,082,043		$	-		$	352,000	$	684,600		$	3,118,643
		Nine Months Ended September 30, 2013
		Corporate			Foreign			Corporate		Investment			Total
								Common		in
								Stock		Derivative
	Beginning balance	$	3,834,470		$	-		$	384,000	$	642,600		$	4,861,070
	Transfers into Level 3		-			-			-		-			-
	Transfers out of Level 3		(5,722,290	)		-			-		-			(5,722,290	)
	Purchases		4,001,500			2,025,000			-		-			6,026,500
	Sales		(13	)		(810	)		-		(645,000	)		(645,823	)
	Total gains or losses:
	Included in earnings		-			-			-		2,400			2,400
	Included in other comprehensive loss		(158,667	)		(141,690	)		-		-			(300,357	)
	Ending balance	$	1,955,000		$	1,882,500		$	384,000	$	-		$	4,221,500
		Nine Months Ended September 30, 2012
		Corporate			Foreign			Corporate		Investment			Total
								Common		in
								Stock		Derivative
	Beginning balance	$	2,133,079		$	-		$	352,000	$	752,700		$	3,237,779
	Transfers into Level 3		-			-			-		-			-
	Transfers out of Level 3		-			-			-		-			-
	Purchases		-			-			-		-			-
	Sales		(102,008	)		-			-		-			(102,008	)
	Total gains or losses:
	Included in earnings		-			-			-		(68,100	)		(68,100	)
	Included in other comprehensive income		50,972			-			-		-			50,972
	Ending balance	$	2,082,043		$	-		$	352,000	$	684,600		$	3,118,643
Fair Value, by Balance Sheet Grouping [Table Text Block]	'
		30-Sep-13
		Carrying			Fair			Level 1		Level 2			Level 3
		Amount			Value
	Assets:
	Mortgage loans on real estate:
	Commercial	$	15,744,254		$	16,324,172		$	-	$	16,324,172		$	-
	Residential		609,378			602,513			-		602,513			-
	Policy loans		6,703,738			6,703,738			-		-			6,703,738
	State-guaranteed receivables		8,061,055			9,420,869			-		9,420,869			-
	Other invested assets		3,253,343			3,253,343			-		-			3,253,343
	Cash and cash equivalents		3,434,896			3,434,896			3,434,896		-			-
	Accrued investment income		4,280,991			4,280,991			-		-			4,280,991
	Cash value of company-owned life insurance		11,523,836			11,523,836			-		-			11,523,836
	Liabilities:
	Policyholder deposits (Investment-type contracts)		53,897,202			55,071,873			-		-			55,071,873
	Policy claims		4,134,431			4,134,431			-		-			4,134,431
	Obligations under capital leases		358,350			358,350			-		-			358,350
	Notes payable		3,182,050			3,185,136			-		-			3,185,136
		31-Dec-12
		Carrying			Fair			Level 1		Level 2			Level 3
		Amount			Value
	Assets:
	Mortgage loans on real estate:
	Commercial	$	16,604,183		$	17,365,363		$	-	$	17,365,363		$	-
	Residential		16,107			18,068			-		18,068			-
	Policy loans		6,781,751			6,781,751			-		-			6,781,751
	State-guaranteed receivables		8,111,669			10,186,226			-		10,186,226			-
	Other invested assets		3,420,189			3,420,189			-		-			3,420,189
	Cash and cash equivalents		6,009,905			6,009,905			6,009,905		-			-
	Accrued investment income		5,163,783			5,163,783			-		-			5,163,783
	Cash value of company-owned life insurance		10,844,489			10,844,489			-		-			10,844,489
	Liabilities:
	Policyholder deposits (Investment-type contracts)		54,602,229			58,704,154			-		-			58,704,154
	Policy claims		1,894,727			1,894,727			-		-			1,894,727
	Obligations under capital leases		568,214			568,214			-		-			568,214
	Notes payable		3,478,613			3,485,503			-		-			3,485,503

Note_7_Segment_Data_Tables

Note 7 - Segment Data (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
		Quarter Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Revenue:
	Preneed and burial products	$	13,121,547		$	12,433,393		$	38,382,769		$	37,401,694
	Traditional and universal life products		9,318,715			5,028,839			23,448,640			14,610,689
	Administrative and financial services		282,157			357,449			925,669			1,090,662
	Corporate and other		(43,881	)		207,200			584,789			466,464
	Total revenue	$	22,678,538		$	18,026,881		$	63,341,867		$	53,569,509
	Pre-tax income (loss) from operations:
	Preneed and burial products	$	555,869		$	905,756		$	563,079		$	1,074,170
	Traditional and universal life products		2,353,229			403,491			953,650			734,411
	Administrative and financial services		95,649			103,104			224,467			249,833
	Corporate and other		(220,758	)		(41,538	)		(50,384	)		(245,370	)
	Total pre-tax income	$	2,783,989		$	1,370,813		$	1,690,812		$	1,813,044

Note_9_Other_Comprehensive_Inc1

Note 9 - Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2013
Disclosure Text Block [Abstract]	'
Comprehensive Income (Loss) [Table Text Block]	'
		Quarter Ended September 30, 2013
		Pretax			Income Tax			Net of Tax
					Expense
					(Benefit)
	Other comprehensive loss:
	Change in net unrealized gains on available-for-sale securities:
	Unrealized holding losses arising during period	$	(1,357,536	)	$	(856,681	)	$	(500,855	)
	Reclassification adjustment for gains included in income		(2,418,806	)		(467,966	)		(1,950,840	)
	Adjustment for effect of deferred acquisition costs		128,198			43,589			84,609
	Net unrealized losses on investments		(3,648,144	)		(1,281,058	)		(2,367,086	)
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		193,161			65,675			127,486
	Total other comprehensive loss	$	(3,454,983	)	$	(1,215,383	)	$	(2,239,600	)
		Quarter Ended September 30, 2012
		Pretax			Income Tax			Net of Tax
					Expense
					(Benefit)
	Other comprehensive income:
	Change in net unrealized gains on available-for-sale securities:
	Unrealized holding gains arising during period	$	6,469,578		$	2,186,414		$	4,283,164
	Reclassification adjustment for gains included in income		(249,927	)		(63,464	)		(186,463	)
	Adjustment for effect of deferred acquisition costs		(166,471	)		(56,600	)		(109,871	)
	Net unrealized gains on investments		6,053,180			2,066,350			3,986,830
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		171,359			58,262			113,097
	Total other comprehensive income	$	6,224,539		$	2,124,612		$	4,099,927
		Nine Months Ended September 30, 2013
		Pretax			Income Tax			Net of Tax
					Expense
					(Benefit)
	Other comprehensive loss:
	Change in net unrealized gains on available-for-sale securities:
	Unrealized holding losses arising during period	$	(23,152,456	)	$	(8,271,465	)	$	(14,880,991	)
	Reclassification adjustment for gains included in income		(2,496,063	)		(500,184	)		(1,995,879	)
	Adjustment for effect of deferred acquisition costs		798,791			271,589			527,202
	Net unrealized losses on investments		(24,849,728	)		(8,500,060	)		(16,349,668	)
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		579,485			197,025			382,460
	Total other comprehensive loss	$	(24,270,243	)	$	(8,303,035	)	$	(15,967,208	)
		Nine Months Ended September 30, 2012
		Pretax			Income Tax			Net of Tax
					Expense
					(Benefit)
	Other comprehensive income:
	Change in net unrealized gains on available-for-sale securities:
	Unrealized holding gains arising during period	$	13,991,611		$	4,744,726		$	9,246,885
	Reclassification adjustment for gains included in income		(448,186	)		(130,765	)		(317,421	)
	Adjustment for effect of deferred acquisition costs		(360,841	)		(122,686	)		(238,155	)
	Net unrealized gains on investments		13,182,584			4,491,275			8,691,309
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		690,197			234,667			455,530
	Curtailment of defined benefit pension plan		2,519,152			856,512			1,662,640
	Net change in defined benefit pension plan		3,209,349			1,091,179			2,118,170
	Total other comprehensive income	$	16,391,933		$	5,582,454		$	10,809,479
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
		Unrealized Gains			Defined			Accumulated
		(Losses) on			Benefit			Other
		Available-For-Sale			Pension			Comprehensive
		Securities			Plans			Income
	For the nine months ended September 30, 2013:
	Beginning balance	$	28,088,103		$	(5,548,379	)	$	22,539,724
	Other comprehensive loss before reclassifications		(14,353,789	)		-			(14,353,789	)
	Amounts reclassified from accumulated other comprehensive income		(1,995,879	)		382,460			(1,613,419	)
	Net current period other comprehensive income (loss)		(16,349,668	)		382,460			(15,967,208	)
	Ending balance	$	11,738,435		$	(5,165,919	)	$	6,572,516
	For the nine months ended September 30, 2012:
	Beginning balance	$	20,334,585		$	(6,729,101	)	$	13,605,484
	Other comprehensive income		8,691,309			2,118,170			10,809,479
	Ending balance	$	29,025,894		$	(4,610,931	)	$	24,414,963
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	'
		Quarter			Nine Months
		Ended			Ended
	Reclassification Adjustments	30-Sep-13			30-Sep-13
	Unrealized gains on available-for-sale securities:
	Realized gains on sale of securities (a)	$	2,418,806		$	2,496,063
	Income tax expense (c)		(467,966	)		(500,184	)
	Net of tax		1,950,840			1,995,879
	Defined benefit pension plans:
	Amortization of actuarial net loss (b)		(193,161	)		(579,485	)
	Income tax benefit (c)		65,675			197,025
	Net of tax		(127,486	)		(382,460	)
	Total reclassifications for the period	$	1,823,354		$	1,613,419

Note_10_Employee_Benefit_Plans1

Note 10 - Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]	'
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	'
		Quarter Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Service cost	$	-		$	-		$	-		$	322,916
	Interest cost		167,180			247,561			501,540			783,205
	Expected return on plan assets		(298,146	)		(328,621	)		(894,438	)		(954,151	)
	Recognized actuarial net loss		193,161			171,359			579,485			690,197
	Net periodic benefit cost	$	62,195		$	90,299		$	186,587		$	842,167

Note_1_Nature_of_Operations_De

Note 1 - Nature of Operations (Details)	9 Months Ended
	Sep. 30, 2013
Disclosure Text Block [Abstract]	'
Percent of Revenue	99.00%

Note_4_Investments_Details

Note 4 - Investments (Details) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012
Note 4 - Investments (Details) [Line Items]	'	'	'
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property (in Dollars)	'	$14,006	'
Restricted Cash and Investments (in Dollars)	25,562,891	25,562,891	26,169,953
Market Indexed Note (in Dollars)	3,000,000	3,000,000	'
Market Indexed Note, Interest Rate	1.00%	1.00%	'
Market Indexed Note, Term	'6 years	'6 years	'
Market Indexed Note, Participation	110.00%	110.00%	'
Derivative Cost Basis (in Dollars)	645,000	645,000	'
Percent of Total Value	21.50%	21.50%	'
Proceeds from Sale of Market Indexed Note (in Dollars)	3,918,083	'	'
Gain (Loss) on Sale of Market Index Note (in Dollars)	$918,083	'	'
Fixed Maturities [Member]	'	'	'
Note 4 - Investments (Details) [Line Items]	'	'	'
Minimum Fair Value to Cost Ratio	83.00%	83.00%	96.00%
Equity Securities [Member]	'	'	'
Note 4 - Investments (Details) [Line Items]	'	'	'
Minimum Fair Value to Cost Ratio	68.00%	68.00%	100.00%

Note_4_Investments_Details_Ava

Note 4 - Investments (Details) - Available-for-sale Securities (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Gross Unrealized Gains	$23,254,956	$44,328,596
Gross Unrealized Losses	4,680,853	105,974
Fair Value	429,577,771	439,710,050
Amortized Cost	411,003,668	395,487,428
US Government Agencies Debt Securities [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	37,820,939	47,634,952
Gross Unrealized Gains	1,321,518	4,263,920
Gross Unrealized Losses	376,113	'
Fair Value	38,766,344	51,898,872
US States and Political Subdivisions Debt Securities [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	41,688,611	46,323,487
Gross Unrealized Gains	3,682,333	7,522,997
Gross Unrealized Losses	36,713	'
Fair Value	45,334,231	53,846,484
Corporate Debt Securities [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	217,067,499	207,553,209
Gross Unrealized Gains	13,006,952	23,818,640
Gross Unrealized Losses	2,210,279	93,765
Fair Value	227,864,172	231,278,084
Foreign [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	54,839,273	50,000,420
Gross Unrealized Gains	2,656,775	4,748,130
Gross Unrealized Losses	1,514,104	11,680
Fair Value	55,981,944	54,736,870
Asset-backed Securities [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	3,351,821	4,460,090
Gross Unrealized Gains	147,493	289,373
Gross Unrealized Losses	'	529
Fair Value	3,499,314	4,748,934
Commercial Mortgage Backed Securities [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	5,009,021	6,429,641
Gross Unrealized Gains	205,747	407,386
Fair Value	5,214,768	6,837,027
Residential Mortgage Backed Securities [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	45,670,958	31,968,578
Gross Unrealized Gains	1,957,381	3,008,564
Fair Value	47,628,339	34,977,142
Redeemable Preferred Stock [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	361,720	'
Gross Unrealized Losses	36,889	'
Fair Value	324,831	'
Debt Securities [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Amortized Cost	405,809,842	394,370,377
Gross Unrealized Gains	22,978,199	44,059,010
Gross Unrealized Losses	4,174,098	105,974
Fair Value	424,613,943	438,323,413
Amortized Cost	405,809,842	394,370,377
US Agencies [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Fair Value	687,000	681,300
Amortized Cost	687,000	681,300
Mutual Funds [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Gross Unrealized Gains	7,803	3,054
Fair Value	326,086	321,337
Amortized Cost	318,283	318,283
Common Stock [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Gross Unrealized Gains	268,954	266,532
Gross Unrealized Losses	486,313	'
Fair Value	3,815,916	384,000
Amortized Cost	4,033,275	117,468
Nonredeemable Preferred Stock [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Gross Unrealized Losses	20,442	'
Fair Value	134,826	'
Amortized Cost	155,268	'
Equity Securities [Member]	'	'
Note 4 - Investments (Details) - Available-for-sale Securities [Line Items]	'	'
Gross Unrealized Gains	276,757	269,586
Gross Unrealized Losses	506,755	'
Fair Value	4,963,828	1,386,637
Amortized Cost	5,193,826	1,117,051
Amortized Cost	$5,193,826	$1,117,051

Note_4_Investments_Details_Sec

Note 4 - Investments (Details) - Securities in an Unrealized Loss Position (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	$99,822,199	$5,938,820
Gross Unrealized Loss	4,680,853	105,974
Number of Securities	102	8
US Government Agencies Debt Securities [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	12,598,904	'
Gross Unrealized Loss	376,113	'
Number of Securities	3	'
US States and Political Subdivisions Debt Securities [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	713,288	'
Gross Unrealized Loss	36,713	'
Number of Securities	1	'
Corporate Debt Securities [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	55,415,549	4,648,363
Gross Unrealized Loss	2,210,279	88,805
Number of Securities	41	5
Estimated Fair Value	'	243,040
Gross Unrealized Loss	'	4,960
Number of Securities	'	1
Foreign [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	27,580,179	988,320
Gross Unrealized Loss	1,514,104	11,680
Number of Securities	16	1
Redeemable Preferred Stock [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	324,831	'
Gross Unrealized Loss	36,889	'
Number of Securities	8	'
Asset-backed Securities [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	'	59,097
Gross Unrealized Loss	'	529
Number of Securities	'	1
Debt Securities [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	96,632,751	5,938,820
Gross Unrealized Loss	4,174,098	105,974
Number of Securities	69	8
Common Stock [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	3,054,622	'
Gross Unrealized Loss	486,313	'
Number of Securities	31	'
Nonredeemable Preferred Stock [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	134,826	'
Gross Unrealized Loss	20,442	'
Number of Securities	2	'
Equity Securities [Member]	'	'
Note 4 - Investments (Details) - Securities in an Unrealized Loss Position [Line Items]	'	'
Estimated Fair Value	3,189,448	'
Gross Unrealized Loss	$506,755	'
Number of Securities	33	'

Note_4_Investments_Details_Net

Note 4 - Investments (Details) - Net Unrealized Gains for Investments Classified as Available-for-sale (USD $)	Sep. 30, 2013	Dec. 31, 2012
Net Unrealized Gains for Investments Classified as Available-for-sale [Abstract]	'	'
Net unrealized appreciation on available-for sale securities	$18,574,103	$44,222,622
Adjustment to deferred acquisition costs	-514,131	-1,312,922
Deferred income taxes	-6,321,537	-14,821,597
Net unrealized appreciation on available-for sale securities	$11,738,435	$28,088,103

Note_4_Investments_Details_Fix

Note 4 - Investments (Details) - Fixed Maturity Securities by Contractual Maturity (USD $)	Sep. 30, 2013	Dec. 31, 2012
Note 4 - Investments (Details) - Fixed Maturity Securities by Contractual Maturity [Line Items]	'	'
Total	$424,613,943	$438,323,413
All Except for State Guaranteed Receivables [Member] | Debt Securities Due at Multiple Maturity Dates [Member]	'	'
Note 4 - Investments (Details) - Fixed Maturity Securities by Contractual Maturity [Line Items]	'	'
Securities Without Single Maturity Date	50,679,979	'
Securities Without Single Maturity Date	52,843,107	'
All Except for State Guaranteed Receivables [Member] | Redeemable Preferred Stock [Member]	'	'
Note 4 - Investments (Details) - Fixed Maturity Securities by Contractual Maturity [Line Items]	'	'
Securities Without Single Maturity Date	361,720	'
Securities Without Single Maturity Date	324,831	'
All Except for State Guaranteed Receivables [Member]	'	'
Note 4 - Investments (Details) - Fixed Maturity Securities by Contractual Maturity [Line Items]	'	'
Due in one year or less	3,501,324	'
Due in one year or less	3,551,783	'
Due after one year through five years	67,647,273	'
Due after one year through five years	74,113,360	'
Due after five years through ten years	190,847,087	'
Due after five years through ten years	197,532,851	'
Due after ten years	92,772,459	'
Due after ten years	96,248,011	'
Total	405,809,842	'
Total	$424,613,943	'

Note_4_Investments_Details_Pro

Note 4 - Investments (Details) - Proceeds from Sales and Maturities of Investments in Available-for-sale (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Proceeds from Sales and Maturities of Investments in Available-for-sale [Abstract]	'	'	'	'
Proceeds from sales and maturities	$47,541,392	$6,723,467	$76,205,748	$25,843,682
Gross realized gains	2,436,585	251,815	2,544,968	455,444
Gross realized losses	($17,779)	($1,888)	($48,905)	($7,258)

Note_4_Investments_Details_Ava1

Note 4 - Investments (Details) - Available-for-sale Securities - Change in Unrealized Gains (Losses) and Realized Gains (Losses) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Debt Securities [Member]	'	'	'	'
Note 4 - Investments (Details) - Available-for-sale Securities - Change in Unrealized Gains (Losses) and Realized Gains (Losses) [Line Items]	'	'	'	'
Change in unrealized investment gains (losses)	($3,668,612)	$6,239,402	($25,148,935)	$13,509,692
Realized investment gains (losses)	2,383,513	186,496	2,473,160	384,755
Equity Securities [Member]	'	'	'	'
Note 4 - Investments (Details) - Available-for-sale Securities - Change in Unrealized Gains (Losses) and Realized Gains (Losses) [Line Items]	'	'	'	'
Change in unrealized investment gains (losses)	-107,730	-19,751	-499,584	33,733
Realized investment gains (losses)	$35,293	$63,431	$22,903	$63,431

Note_4_Investments_Details_Sta

Note 4 - Investments (Details) - State-guaranteed Receivables by Contractual Maturity (USD $)	Sep. 30, 2013	Dec. 31, 2012
Note 4 - Investments (Details) - State-guaranteed Receivables by Contractual Maturity [Line Items]	'	'
Total	$9,420,869	$10,186,226
State-Guaranteed Receivables [Member]	'	'
Note 4 - Investments (Details) - State-guaranteed Receivables by Contractual Maturity [Line Items]	'	'
Due in one year or less	700,932	'
Due in one year or less	708,325	'
Due after one year through five years	2,436,995	'
Due after one year through five years	2,596,551	'
Due after five years through ten years	2,858,089	'
Due after five years through ten years	3,377,206	'
Due after ten years	2,065,039	'
Due after ten years	2,738,787	'
Total	8,061,055	'
Total	$9,420,869	'

Note_4_Investments_Details_Amo

Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State (USD $)	Sep. 30, 2013	Dec. 31, 2012
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	$8,061,055	$8,111,669
New York [Member]	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	3,861,199	3,973,862
Massachusetts [Member]	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	1,909,363	1,838,166
Georgia [Member]	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	1,521,928	1,531,078
Pennsylvania [Member]	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	284,989	270,657
California [Member]	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	192,369	202,563
Texas [Member]	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	208,900	198,260
Ohio [Member]	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	$82,307	$97,083

Note_4_Investments_Details_Net1

Note 4 - Investments (Details) - Net Investment Income (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net Investment Income [Line Items]	'	'	'	'
Gross investment income	$5,268,652	$5,506,172	$16,364,671	$16,377,180
Investment expenses	282,654	261,062	847,674	783,183
Net investment income	4,985,998	5,245,110	15,516,997	15,593,997
Fixed Maturities [Member]	'	'	'	'
Net Investment Income [Line Items]	'	'	'	'
Gross investment income	4,874,638	4,866,812	14,480,549	14,583,269
Equity Securities [Member]	'	'	'	'
Net Investment Income [Line Items]	'	'	'	'
Gross investment income	50,970	13,637	100,701	41,021
Mortgage Loans on Real Estate [Member]	'	'	'	'
Net Investment Income [Line Items]	'	'	'	'
Gross investment income	264,056	356,252	816,454	1,027,434
Policy Loans [Member]	'	'	'	'
Net Investment Income [Line Items]	'	'	'	'
Gross investment income	121,699	123,004	357,789	367,497
State-Guaranteed Receivables [Member]	'	'	'	'
Net Investment Income [Line Items]	'	'	'	'
Gross investment income	140,790	118,680	430,666	346,676
Derivative [Member]	'	'	'	'
Net Investment Income [Line Items]	'	'	'	'
Gross investment income	-240,600	4,800	2,400	-68,100
Other Long-term Investments [Member]	'	'	'	'
Net Investment Income [Line Items]	'	'	'	'
Gross investment income	$57,099	$22,987	$176,112	$79,383

Note_5_Fair_Values_of_Financia2

Note 5 - Fair Values of Financial Instruments (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Note 5 - Fair Values of Financial Instruments (Details) [Line Items]	'	'
Fair Value Hierarchy, Number of Input Levels	3	3
Transferred from Level 3 to Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) [Line Items]	'	'
Number of Investments Transferred Between Levels	1	5
Private Equity Investment [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) [Line Items]	'	'
Number of Level 3 Investments Reported at Fair Value	1	1
Debt Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) [Line Items]	'	'
Number of Level 3 Investments Reported at Fair Value	2	2

Note_5_Fair_Values_of_Financia3

Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis (USD $)	Sep. 30, 2013	Dec. 31, 2012
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	$429,577,771	$439,710,050
Investment in derivative	'	642,600
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	38,766,344	51,898,872
US Government Agencies Debt Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	38,766,344	51,898,872
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	45,334,231	53,846,484
US States and Political Subdivisions Debt Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	45,334,231	53,846,484
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	225,909,172	227,443,614
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	1,955,000	3,834,470
Corporate Debt Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	227,864,172	231,278,084
Foreign [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	54,099,444	54,736,870
Foreign [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	1,882,500	'
Foreign [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	55,981,944	54,736,870
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	3,499,314	4,748,934
Asset-backed Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	3,499,314	4,748,934
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	5,214,768	6,837,027
Commercial Mortgage Backed Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	5,214,768	6,837,027
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	47,628,339	34,977,142
Residential Mortgage Backed Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	47,628,339	34,977,142
Redeemable Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	324,831	'
Redeemable Preferred Stock [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	324,831	'
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	324,831	'
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	420,451,612	434,488,943
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	3,837,500	3,834,470
Debt Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	424,613,943	438,323,413
US Agencies [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	687,000	681,300
US Agencies [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	687,000	681,300
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	326,086	321,337
Mutual Funds [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	326,086	321,337
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	3,431,916	'
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	384,000	384,000
Common Stock [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	3,815,916	384,000
Nonredeemable Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	134,826	'
Nonredeemable Preferred Stock [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	134,826	'
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	4,579,828	1,002,637
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	384,000	384,000
Equity Securities [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Available-for-sale Securities	4,963,828	1,386,637
Fair Value, Inputs, Level 3 [Member]	'	'
Note 5 - Fair Values of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]	'	'
Investment in derivative	'	$642,600

Note_5_Fair_Values_of_Financia4

Note 5 - Fair Values of Financial Instruments (Details) - Changes in Fair Value of Level 3 Financial Instruments (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Jun. 30, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Dec. 31, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Corporate Debt Securities [Member]

Corporate Debt Securities [Member]

Corporate Debt Securities [Member]

Corporate Debt Securities [Member]

Foreign [Member]

Foreign [Member]

Common Stock [Member]

Common Stock [Member]

Common Stock [Member]

Common Stock [Member]

Common Stock [Member]

Common Stock [Member]

Derivative [Member]

Derivative [Member]

Derivative [Member]

Derivative [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Beginning balance

$5,154,600

$3,121,451

$4,861,070

$3,237,779

$1,890,000

$2,089,651

$3,834,470

$2,133,079

$1,995,000

'

$384,000

$384,000

$384,000

$352,000

$352,000

$352,000

$885,600

$679,800

$642,600

$752,700

Transfers out of Level 3

-1,887,820

'

-5,722,290

'

-1,887,820

'

-5,722,290

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchases

2,001,500

'

6,026,500

'

2,001,500

'

4,001,500

'

'

2,025,000

'

'

'

'

'

'

'

'

'

'

Sales

-645,488

-52,974

-645,823

-102,008

-13

-52,974

-13

-102,008

-475

-810

'

'

'

'

'

'

-645,000

'

-645,000

'

Included in earnings

-240,600

4,800

2,400

-68,100

'

'

'

'

'

'

'

'

'

'

'

'

-240,600

4,800

2,400

-68,100

Included in other comprehensive income (loss)

-160,692

45,366

-300,357

50,972

-48,667

45,366

-158,667

50,972

-112,025

-141,690

'

'

'

'

'

'

'

'

'

'

Ending balance

$4,221,500

$3,118,643

$4,221,500

$3,118,643

$1,955,000

$2,082,043

$1,955,000

$2,082,043

$1,882,500

$1,882,500

$384,000

$384,000

$384,000

$352,000

$352,000

$352,000

'

$684,600

'

$684,600

Note_5_Fair_Values_of_Financia5

Note 5 - Fair Values of Financial Instruments (Details) - Estimated Fair Values of Financial Instruments (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	$16,353,632	$16,620,290	'	'
Policy loans	6,703,738	6,781,751	'	'
State-guaranteed receivables	8,061,055	8,111,669	'	'
State-guaranteed receivables	9,420,869	10,186,226	'	'
Other invested assets	3,253,343	3,420,189	'	'
Cash and cash equivalents	3,434,896	6,009,905	4,250,651	6,534,616
Cash and cash equivalents	3,434,896	6,009,905	'	'
Accrued investment income	4,280,991	5,163,783	'	'
Cash value of company-owned life insurance	11,523,836	10,844,489	'	'
Liabilities:	'	'	'	'
Policyholder deposits (Investment-type contracts)	53,897,202	54,602,229	'	'
Policyholder deposits (Investment-type contracts)	55,071,873	58,704,154	'	'
Policy claims	4,134,431	1,894,727	'	'
Obligations under capital leases	358,350	568,214	'	'
Notes payable	3,182,050	3,478,613	'	'
Notes payable	3,185,136	3,485,503	'	'
Commercial Mortgage [Member] | Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	16,324,172	17,365,363	'	'
Commercial Mortgage [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	15,744,254	16,604,183	'	'
Mortgage loans on real estate	16,324,172	17,365,363	'	'
Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	602,513	18,068	'	'
Residential Mortgage [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	609,378	16,107	'	'
Mortgage loans on real estate	602,513	18,068	'	'
Fair Value, Inputs, Level 1 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Cash and cash equivalents	3,434,896	6,009,905	'	'
Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
State-guaranteed receivables	9,420,869	10,186,226	'	'
Fair Value, Inputs, Level 3 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Policy loans	6,703,738	6,781,751	'	'
Other invested assets	3,253,343	3,420,189	'	'
Accrued investment income	4,280,991	5,163,783	'	'
Cash value of company-owned life insurance	11,523,836	10,844,489	'	'
Liabilities:	'	'	'	'
Policyholder deposits (Investment-type contracts)	55,071,873	58,704,154	'	'
Policy claims	4,134,431	1,894,727	'	'
Obligations under capital leases	358,350	568,214	'	'
Notes payable	$3,185,136	$3,485,503	'	'

Note_6_Earnings_per_Share_Deta

Note 6 - Earnings per Share (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]	'	'	'	'
Weighted Average Number of Shares Outstanding, Basic	1,135,559	1,156,783	1,139,164	1,155,083

Note_7_Segment_Data_Details

Note 7 - Segment Data (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Number of Operating Segments	4
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense, Amount (in Dollars)	$2,069,169

Note_7_Segment_Data_Details_Se

Note 7 - Segment Data (Details) - Segments by Operating Information (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	$22,678,538	$18,026,881	$63,341,867	$53,569,509
Pre-tax income (loss) from operations	2,783,989	1,370,813	1,690,812	1,813,044
Preneed and Burial Products [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	13,121,547	12,433,393	38,382,769	37,401,694
Pre-tax income (loss) from operations	555,869	905,756	563,079	1,074,170
Traditional and Universal Life Products [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	9,318,715	5,028,839	23,448,640	14,610,689
Pre-tax income (loss) from operations	2,353,229	403,491	953,650	734,411
Administrative and Financial Services [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	282,157	357,449	925,669	1,090,662
Pre-tax income (loss) from operations	95,649	103,104	224,467	249,833
Corporate and Other [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	-43,881	207,200	584,789	466,464
Pre-tax income (loss) from operations	($220,758)	($41,538)	($50,384)	($245,370)

Note_9_Other_Comprehensive_Inc2

Note 9 - Other Comprehensive Income (Loss) (Details) - Other Comprehensive Income (USD $)	3 Months Ended			9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012	Sep. 30, 2013		Sep. 30, 2012
Change in net unrealized gains on available-for-sale securities:	'		'	'		'
Unrealized holding gains (losses) arising during period	($1,357,536)		$6,469,578	($23,152,456)		$13,991,611
Unrealized holding gains (losses) arising during period	-856,681		2,186,414	-8,271,465		4,744,726
Unrealized holding gains (losses) arising during period	-500,855		4,283,164	-14,880,991		9,246,885
Reclassification adjustment for losses (gains) included in income	-2,418,806	[1]	-249,927	-2,496,063	[1]	-448,186
Reclassification adjustment for losses (gains) included in income	-467,966	[2]	-63,464	-500,184	[2]	-130,765
Reclassification adjustment for losses (gains) included in income	-1,950,840		-186,463	-1,995,879		-317,421
Adjustment for effect of deferred acquisition costs	128,198		-166,471	798,791		-360,841
Adjustment for effect of deferred acquisition costs	43,589		-56,600	271,589		-122,686
Adjustment for effect of deferred acquisition costs	84,609		-109,871	527,202		-238,155
Net unrealized gains (losses) on investments	-3,648,144		6,053,180	-24,849,728		13,182,584
Net unrealized gains (losses) on investments	-1,281,058		2,066,350	-8,500,060		4,491,275
Net unrealized gains (losses) on investments	-2,367,086		3,986,830	-16,349,668		8,691,309
Change in defined benefit pension plan:	'		'	'		'
Amortization of actuarial net loss in net periodic pension cost	193,161	[3]	171,359	579,485	[3]	690,197
Amortization of actuarial net loss in net periodic pension cost	65,675	[2]	58,262	197,025	[2]	234,667
Amortization of actuarial net loss in net periodic pension cost	127,486		113,097	382,460		455,530
Curtailment of defined benefit pension plan	'		'	'		2,519,152
Curtailment of defined benefit pension plan	'		'	'		856,512
Curtailment of defined benefit pension plan	'		'	'		1,662,640
Net change in defined benefit pension plan	193,161		171,359	579,485		3,209,349
Net change in defined benefit pension plan	'		'	'		1,091,179
Net change in defined benefit pension plan	'		'	382,460		2,118,170
Total other comprehensive income (loss)	-3,454,983		6,224,539	-24,270,243		16,391,933
Total other comprehensive income (loss)	-1,215,383		2,124,612	-8,303,035		5,582,454
Total other comprehensive income (loss)	($2,239,600)		$4,099,927	($15,967,208)		$10,809,479
[1]	These items appear within net realized gains on investments in the consolidated income statements.
[2]	These items appear within federal income taxes in the consolidated income statements.
[3]	These items are included in the computation of net periodic benefit cost (see Note 10).

Note_9_Other_Comprehensive_Inc3

Note 9 - Other Comprehensive Income (Loss) (Details) - Accumulated Other Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Accumulated Other Comprehensive Income [Abstract]	'	'	'	'
Beginning balance	'	'	$28,088,103	$20,334,585
Beginning balance	'	'	-5,548,379	-6,729,101
Beginning balance	'	'	22,539,724	13,605,484
Other comprehensive loss before reclassifications	'	'	-14,353,789	'
Other comprehensive loss before reclassifications	'	'	-14,353,789	'
Amounts reclassified from accumulated other comprehensive income	-1,950,840	-186,463	-1,995,879	-317,421
Amounts reclassified from accumulated other comprehensive income	127,486	113,097	382,460	455,530
Amounts reclassified from accumulated other comprehensive income	-1,823,354	'	-1,613,419	'
Net other comprehensive income (loss)	-2,367,086	3,986,830	-16,349,668	8,691,309
Net other comprehensive income (loss)	'	'	382,460	2,118,170
Net other comprehensive income (loss)	'	'	-15,967,208	10,809,479
Ending balance	11,738,435	29,025,894	11,738,435	29,025,894
Ending balance	-5,165,919	-4,610,931	-5,165,919	-4,610,931
Ending balance	$6,572,516	$24,414,963	$6,572,516	$24,414,963

Note_9_Other_Comprehensive_Inc4

Note 9 - Other Comprehensive Income (Loss) (Details) - Amounts Reclassified from AOCI to Income (USD $)	3 Months Ended			9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012	Sep. 30, 2013		Sep. 30, 2012
Amounts Reclassified from AOCI to Income [Abstract]	'		'	'		'
Realized gains on sale of securities (a)	$2,418,806	[1]	$249,927	$2,496,063	[1]	$448,186
Income tax expense (c)	-467,966	[2]	-63,464	-500,184	[2]	-130,765
Net of tax	1,950,840		186,463	1,995,879		317,421
Amortization of actuarial net loss (b)	-193,161	[3]	-171,359	-579,485	[3]	-690,197
Income tax benefit (c)	65,675	[2]	58,262	197,025	[2]	234,667
Net of tax	-127,486		-113,097	-382,460		-455,530
Total reclassifications for the period	$1,823,354		'	$1,613,419		'
[1]	These items appear within net realized gains on investments in the consolidated income statements.
[2]	These items appear within federal income taxes in the consolidated income statements.
[3]	These items are included in the computation of net periodic benefit cost (see Note 10).

Note_10_Employee_Benefit_Plans2

Note 10 - Employee Benefit Plans (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]	'	'
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year	'	$1,440,000
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year	960,000	'
Defined Benefit Plan, Contributions by Employer	$780,000	'

Note_10_Employee_Benefit_Plans3

Note 10 - Employee Benefit Plans (Details) - Net Periodic Benefit Cost (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net Periodic Benefit Cost [Abstract]	'	'	'	'
Service cost	'	'	'	$322,916
Interest cost	167,180	247,561	501,540	783,205
Expected return on plan assets	-298,146	-328,621	-894,438	-954,151
Recognized actuarial net loss	193,161	171,359	579,485	690,197
Net periodic benefit cost	$62,195	$90,299	$186,587	$842,167

Note_11_Note_Payable_Details

Note 11 - Note Payable (Details) (USD $)	3 Months Ended
	Sep. 30, 2013
Maturity Date: 2015 [Member] | At Need Funding Line of Credit [Member]	'
Note 11 - Note Payable (Details) [Line Items]	'
Line of Credit Facility, Maximum Borrowing Capacity	1,000,000
Maturity Date: 2015 [Member]	'
Note 11 - Note Payable (Details) [Line Items]	'
Line of Credit Facility, Maximum Borrowing Capacity	150,000
Prime Rate - Floor Rate [Member] | Minimum [Member]	'
Note 11 - Note Payable (Details) [Line Items]	'
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	3.25%