Investors Heritage Capital (IHRC) 10-Q 15 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	15-May-14
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	'	1,128,583
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	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Securities available-for-sale, at fair value:	'	'
Fixed maturities (amortized cost: $402,672,496 and $402,396,191)	$425,045,607	$417,909,105
Equity securities (cost: $6,093,070 and $5,888,361)	6,334,846	5,818,333
Mortgage loans on real estate	18,995,441	18,601,722
Policy loans	6,614,711	6,674,887
State-guaranteed receivables	7,930,642	8,085,107
Other invested assets	3,316,675	3,181,182
Total investments	468,237,922	460,270,336
Cash and cash equivalents	6,064,838	4,143,291
Accrued investment income	4,481,396	5,191,253
Due premiums	3,379,315	3,368,008
Deferred acquisition costs	18,595,719	18,822,481
Value of business acquired	360,217	386,056
Leased property under capital leases	876,441	1,005,523
Property and equipment	1,117,086	1,042,748
Cash value of company-owned life insurance	11,892,951	11,808,248
Other assets	1,721,147	1,901,946
Amounts recoverable from reinsurers	55,575,621	55,669,088
Total assets	572,302,653	563,608,978
Policy liabilities:	'	'
Benefit reserves	481,783,140	480,151,818
Unearned premium reserves	8,136,324	8,189,640
Policy claims	3,137,687	3,672,474
Liability for deposit-type contracts	3,298,742	3,283,960
Reserves for dividends and endowments and other	411,336	408,555
Total policy liabilities	496,767,229	495,706,447
Deferred federal income tax liability	6,971,439	4,604,891
Obligations under capital leases	809,612	943,488
Notes payable	3,027,536	3,031,942
Accrued pension liability	2,624,689	2,887,843
Other liabilities	4,081,814	2,787,099
Total liabilities	514,282,319	509,961,710
STOCKHOLDERS' EQUITY	'	'
Common stock (shares issued: 1,128,583 and 1,128,583)	1,128,583	1,128,583
Paid-in surplus	8,908,243	8,908,243
Accumulated other comprehensive income	11,423,775	6,751,991
Retained earnings	36,559,733	36,858,451
Total stockholders' equity	58,020,334	53,647,268
Total liabilities and stockholders' equity	572,302,653	563,608,978
Debt Securities [Member]	'	'
Securities available-for-sale, at fair value:	'	'
Fixed maturities (amortized cost: $402,672,496 and $402,396,191)	425,045,607	417,909,105
Equity Securities [Member]	'	'
Securities available-for-sale, at fair value:	'	'
Equity securities (cost: $6,093,070 and $5,888,361)	$6,334,846	$5,818,333

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Cost	$408,765,566	$408,284,552
Common stock, shares issued (in Shares)	1,128,583	1,128,583
Debt Securities [Member]	'	'
Cost	402,672,496	402,396,191
Equity Securities [Member]	'	'
Cost	$6,093,070	$5,888,361

Condensed_Consolidated_Income_

Condensed Consolidated Income Statements (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
REVENUE	'	'
Premiums and other considerations	$15,232,486	$17,895,056
Premiums ceded	-3,355,650	-4,007,293
Net premiums	11,876,836	13,887,763
Investment income, net of expenses	5,078,982	5,261,291
Other net realized investment gains (losses)	-3,806	87,967
Net realized gains (losses) on investments	-3,806	87,967
Other income	337,872	380,971
Total revenue	17,289,884	19,617,992
BENEFITS AND EXPENSES	'	'
Death and other benefits	11,021,044	11,130,541
Guaranteed annual endowments	103,810	109,484
Dividends to policyholders	83,383	100,818
Increase in benefit reserves and unearned premiums	1,978,691	3,546,804
Acquisition costs deferred	-1,751,981	-2,178,721
Amortization of deferred acquisition costs	1,787,601	1,742,877
Commissions	1,306,860	1,742,473
Other general and administrative expenses	2,828,181	3,001,863
Total benefits and expenses	17,357,589	19,196,139
INCOME (LOSS) BEFORE FEDERAL INCOME TAXES	-67,705	421,853
PROVISION (BENEFIT) FOR FEDERAL INCOME TAXES	'	'
Current	26,587	42,541
Deferred	-40,128	84,015
Total federal income taxes	-13,541	126,556
NET INCOME (LOSS)	($54,164)	$295,297
BASIC AND DILUTED NET INCOME (LOSS) PER SHARE (in Dollars per share)	($0.05)	$0.26
DIVIDENDS PER SHARE (in Dollars per share)	$0.20	$0.25

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013
NET INCOME (LOSS)	($54,164)		$295,297
OTHER COMPREHENSIVE INCOME (LOSS):	'		'
Unrealized holding gains (losses) arising during period	7,168,195		-2,821,090
Reclassification adjustment for losses (gains) included in income	3,806	[1]	-87,967	[1]
Adjustment for effects of deferred acquisition costs	-191,144		113,363
Net unrealized gains (losses) on investments	6,980,857		-2,795,694
Amortization of actuarial net loss in net periodic pension cost	97,603	[2]	193,162	[2]
Other comprehensive income (loss) before income taxes	7,078,460		-2,602,532
Income tax expense (benefit)	2,406,676		-884,648
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES	4,671,784		-1,717,884
COMPREHENSIVE INCOME (LOSS)	$4,617,620		($1,422,587)
[1]	These items appear within net realized gains (losses) on investments in the consolidated income statements.
[2]	These items are included in the computation of net periodic pension 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, 2012	$1,141,886	$8,908,243	$22,539,724	$35,642,931	$68,232,784
Net income (loss)	'	'	'	295,297	295,297
Other comprehensive income (loss), net	'	'	-1,717,884	'	-1,717,884
Cash dividends	'	'	'	-309,018	-309,018
Balance at Mar. 31, 2013	1,141,886	8,908,243	20,821,840	35,629,210	66,501,179
Balance at Dec. 31, 2013	1,128,583	8,908,243	6,751,991	36,858,451	53,647,268
Net income (loss)	'	'	'	-54,164	-54,164
Other comprehensive income (loss), net	'	'	4,671,784	'	4,671,784
Cash dividends	'	'	'	-244,554	-244,554
Balance at Mar. 31, 2014	$1,128,583	$8,908,243	$11,423,775	$36,559,733	$58,020,334

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
NET CASH PROVIDED BY OPERATING ACTIVITIES	$3,479,426	$625,594
INVESTING ACTIVITIES	'	'
Purchases of available-for-sale securities	-7,791,620	-11,317,500
Sales of available-for-sale securities	449,727	'
Maturities of available-for-sale securities	6,700,321	12,097,726
Acquisitions of mortgage loans on real estate	-732,640	-500,000
Payments of mortgage loans on real estate	341,863	348,110
Payments of state-guaranteed receivables	298,260	168,260
Net change in payable (receivable) for securities	95,091	'
Net reductions (additions) of other investments	-75,317	86,304
Net additions to property and equipment	-120,267	-18,886
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	-834,582	864,014
FINANCING ACTIVITIES	'	'
Receipts from universal life policies credited to policyholder account balances	1,295,052	1,386,889
Return of policyholder account balances on universal life policies	-2,013,943	-2,817,942
Payments on notes payable	-817,548	-1,036,847
Proceeds from notes payable	813,142	879,444
NET CASH USED IN FINANCING ACTIVITIES	-723,297	-1,588,456
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,921,547	-98,848
Cash and cash equivalents at beginning of period	4,143,291	6,009,905
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$6,064,838	$5,911,057

Note_1_Nature_of_Operations

Note 1 - Nature of Operations	3 Months Ended
	Mar. 31, 2014
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	3 Months Ended
	Mar. 31, 2014
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 ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. For further information, refer to the consolidated financial statements and footnotes thereto for the year ended December 31, 2013, 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 March 31, 2014 through the date that these financial statements have been issued.

Note_3_New_Accounting_Pronounc

Note 3 - New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'
	NOTE 3 – New Accounting Pronouncements
	All 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 or were not expected to have a material impact to the consolidated financial statements.

Note_4_Investments

Note 4 - Investments	3 Months Ended
	Mar. 31, 2014
Investments Disclosure [Abstract]	'
Investments Disclosure [Text Block]	'
	NOTE 4 – Investments
	Investments in available-for-sale securities are summarized as follows:
	31-Mar-14	Amortized			Gross			Gross		Fair
		Cost			Unrealized			Unrealized		Value
					Gains			Losses
	Fixed maturity securities:
	U.S. government obligations	$	33,338,018		$	810,111		$	428,470	$	33,719,659
	States and political subdivisions		39,109,057			4,196,212			15,083		43,290,186
	Corporate		218,694,053			15,014,628			870,929		232,837,752
	Foreign		60,965,836			2,533,711			563,859		62,935,688
	Asset-backed securities		2,183,114			82,727			-		2,265,841
	Mortgage-backed securities (MBS):
	Commercial MBS		3,458,154			139,869			83		3,597,940
	Residential MBS		44,924,264			1,587,022			112,745		46,398,541
	Total fixed maturity securities		402,672,496			24,364,280			1,991,169		425,045,607
	Equity securities:
	U.S. agencies		687,000			-			-		687,000
	Mutual funds		318,284			14,250			-		332,534
	Corporate common stock		5,087,786			510,996			283,470		5,315,312
	Total equity securities		6,093,070			525,246			283,470		6,334,846
	Total	$	408,765,566		$	24,889,526		$	2,274,639	$	431,380,453
	31-Dec-13	Amortized			Gross			Gross		Fair
		Cost			Unrealized			Unrealized		Value
					Gains			Losses
	Fixed maturity securities:
	U.S. government obligations	$	34,485,660		$	793,701		$	703,570	$	34,575,791
	States and political subdivisions		39,910,030			3,145,632			60,898		42,994,764
	Corporate		217,659,449			12,535,411			2,251,886		227,942,974
	Foreign		56,960,366			2,081,436			1,395,450		57,646,352
	Asset-backed securities		2,677,953			109,417			-		2,787,370
	Mortgage-backed securities (MBS):
	Commercial MBS		4,252,765			160,955			-		4,413,720
	Residential MBS		46,449,968			1,443,228			345,062		47,548,134
	Total fixed maturity securities		402,396,191			20,269,780			4,756,866		417,909,105
	Equity securities:
	U.S. agencies		687,000			-			-		687,000
	Mutual funds		318,283			1,356			-		319,639
	Corporate common stock		4,883,078			422,880			494,264		4,811,694
	Total equity securities		5,888,361			424,236			494,264		5,818,333
	Total	$	408,284,552		$	20,694,016		$	5,251,130	$	423,727,438
	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.
		31-Mar-14								31-Dec-13
		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	$	12,516,688		$	428,470			2	$	17,401,555	$	703,570		3
	States and political subdivisions		734,918			15,083			1		1,239,103		60,898		2
	Corporate		25,004,309			575,542			18		56,249,758		2,076,123		37
	Foreign		22,574,776			563,859			12		26,858,417		1,395,450		15
	Commercial MBS		150,835			83			1		-		-		-
	Residential MBS		18,129,981			112,745			4		18,187,588		345,062		4
	Greater than 12 months:
	Corporate		2,940,262			295,387			2		1,072,341		175,763		1
	Total fixed maturities		82,051,769			1,991,169			40		121,008,762		4,756,866		62
	Equities:
	Less than 12 months:
	Corporate common stock		2,534,957			283,470			25		2,806,072		494,264		24
	Total equities		2,534,957			283,470			25		2,806,072		494,264		24
	Total	$	84,586,726		$	2,274,639			65	$	123,814,834	$	5,251,130		86
	As of March 31, 2014, all of the above fixed maturity securities individually had a fair value to cost ratio equal to or greater than 85% and the equity securities had a fair value to cost ratio equal to or exceeding 69%. As of December 31, 2013, all of the above fixed maturity securities had a fair value to cost ratio equal to or greater than 84% and the equity securities noted above had a fair value to cost ratio equal to or greater than 70%.
	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 ended March 31, 2014 or 2013.
Management believes that the Company will fully recover its cost basis in the securities held at March 31, 2014, 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.
	March 31,			December 31,
	2014			2013
Net unrealized appreciation on available-for sale securities	$	22,614,887		$	15,442,886
Adjustment to deferred acquisition costs		(609,563	)		(418,419	)
Deferred income taxes		(7,481,810	)		(5,108,319	)
Net unrealized appreciation on available-for sale securities	$	14,523,514		$	9,916,148
The amortized cost and fair value of fixed maturity securities at March 31, 2014, 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	$	4,448,942		$	4,560,471
Due after one year through five years		71,030,741			78,396,423
Due after five years through ten years		198,395,008			206,994,396
Due after ten years		48,719,277			53,200,976
Due at multiple maturity dates		80,078,528			81,893,341
Total	$	402,672,496		$	425,045,607
Proceeds for the quarters ended March 31, 2014 and 2013 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 March 31,
	2014			2013
Proceeds from sales and maturities	$	7,150,048		$	12,097,726
Gross realized gains		21,672			102,664
Gross realized losses		(25,478	)		(14,697	)
The table below 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 ended March 31, 2014 and 2013.
	Quarter Ended March 31,
	2014			2013
Change in unrealized investment gains (losses):
Available-for-sale:
Fixed maturities	$	6,860,197		$	(2,931,791	)
Equity securities		311,804			22,734
Realized investment gains (losses):
Available-for-sale:
Fixed maturities	$	-		$	87,967
Equity securities		(3,806	)		-
The Company is required to hold assets on deposit for the benefit of policyholders in accordance with statutory rules and regulations. At March 31, 2014 and December 31, 2013, these required deposits had a total fair value of $25,309,100 and $25,209,390, respectively.
The Company also engages in commercial and residential mortgage lending. As of March 31, 2014 and December 31, 2013, 76.3% and 83.2%, respectively, of these investments were in commercial properties. All commercial mortgage loans are either originated in-house or through two mortgage brokers, are secured by first mortgages on the real estate and generally carry personal guarantees by the borrowers. Loan to value ratios of 80% or less and debt service coverage from existing cash flows of 115% or higher are generally required. We minimize credit risk in our mortgage loan portfolio through various methods, including stringently underwriting the loan request, maintaining small average loan balances, and reviewing larger mortgage loans on an annual basis. As of March 31, 2014 and December 31, 2013, there were no non-performing loans, loans on nonaccrual status, loans 90 days past due or more, loans in process of foreclosure, or restructured loans. The Company experienced no mortgage loan defaults during the quarters ended March 31, 2014 and 2013.
During 2013, we began evaluating and purchasing residential mortgage loans through the secondary market. We review each mortgage loan opportunity individually, considering both the value of the underlying property and the credit worthiness of the borrower. These loans are typically purchased at a discount to their unpaid principal balance. During the quarter ended March 31, 2014, we purchased residential mortgages through the secondary market totaling approximately $733,000. During the year ended December 31, 2013, we purchased residential mortgages through the secondary market totaling approximately $2,116,000. We are utilizing a third party servicer to administer these loans.
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 March 31, 2014, 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	$	697,489		$	709,610
Due after one year through five years		2,435,571			2,640,862
Due after five years through ten years		2,909,617			3,540,396
Due after ten years		1,887,965			2,594,096
Total	$	7,930,642		$	9,484,964
The amortized cost of state-guaranteed receivables, by state, is summarized as follows:
	March 31,			December 31,
	2014			2013
New York	$	3,768,623		$	3,880,368
Massachusetts		1,910,752			1,927,350
Georgia		1,480,842			1,500,719
Pennsylvania		289,783			284,756
Texas		216,247			212,447
California		178,827			195,593
Ohio		85,568			83,874
Total	$	7,930,642		$	8,085,107
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 were 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.
Major categories of net investment income are summarized as follows:
	Quarter Ended March 31,
	2014			2013
Fixed maturities	$	4,709,081		$	4,807,522
Equity securities		51,637			13,895
Mortgage loans on real estate		303,876			278,064
Policy loans		116,929			118,112
State-guaranteed receivables		143,795			146,254
Gain on investment in derivative		-			121,500
Other		57,057			58,454
Gross investment income		5,382,375			5,543,801
Investment expenses		303,393			282,510
Net investment income	$	5,078,982		$	5,261,291

Note_5_Fair_Values_of_Financia

Note 5 - Fair Values of Financial Instruments	3 Months Ended
	Mar. 31, 2014
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 where independent pricing inputs were not able to be obtained. For the fixed maturities that may fall 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 Dow Jones Industrial Average as of the measurement date 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 March 31, 2014 and December 31, 2013.
		31-Mar-14
		Level 1			Level 2		Level 3		Total
	Fixed maturities:
	U.S. government obligations	$	-		$	33,719,659	$	-	$	33,719,659
	States and political subdivisions		-			43,290,186		-		43,290,186
	Corporate		-			232,837,752		-		232,837,752
	Foreign		-			62,935,688		-		62,935,688
	Asset-backed securities		-			2,265,841		-		2,265,841
	Mortgage-backed securities:
	Commercial MBS		-			3,597,940		-		3,597,940
	Residential MBS		-			46,398,541		-		46,398,541
	Total fixed maturities	$	-		$	425,045,607	$	-	$	425,045,607
	Equity securities:
	U.S. agencies	$	687,000		$	-	$	-	$	687,000
	Mutual funds		332,534			-		-		332,534
	Corporate common stock		4,931,312			-		384,000		5,315,312
	Total equity securities	$	5,950,846		$	-	$	384,000	$	6,334,846
		31-Dec-13
		Level 1			Level 2		Level 3		Total
	Fixed maturities:
	U.S. government obligations	$	-		$	34,575,791	$	-	$	34,575,791
	States and political subdivisions		-			42,994,764		-		42,994,764
	Corporate		-			227,942,974		-		227,942,974
	Foreign		-			57,646,352		-		57,646,352
	Asset-backed securities		-			2,787,370		-		2,787,370
	Mortgage-backed securities:
	Commercial MBS		-			4,413,720		-		4,413,720
	Residential MBS		-			47,548,134		-		47,548,134
	Total fixed maturities	$	-		$	417,909,105	$	-	$	417,909,105
	Equity securities:
	U.S. agencies	$	687,000		$	-	$	-	$	687,000
	Mutual funds		319,639			-		-		319,639
	Corporate common stock		4,427,694			-		384,000		4,811,694
	Total equity securities	$	5,434,333		$	-	$	384,000	$	5,818,333
	The following table provides a summary of changes in fair value of our Level 3 financial instruments reported at fair value for the quarters ended March 31, 2014 and 2013.
		Quarter Ended March 31, 2014
		Corporate			Corporate		Investment		Total
					Common		in
					Stock		Derivative
	Beginning balance	$	-		$	384,000	$	-	$	384,000
	Transfers into Level 3		-			-		-		-
	Transfers out of Level 3		-			-		-		-
	Purchases		-			-		-		-
	Sales		-			-		-		-
	Total gains or losses:
	Included in earnings		-			-		-		-
	Included in other comprehensive income		-			-		-		-
	Ending balance	$	-		$	384,000	$	-	$	384,000
		Quarter Ended March 31, 2013
		Corporate			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		(3,834,470	)		-		-		(3,834,470	)
Purchases		2,000,000			-		-		2,000,000
Sales		-			-		-		-
Total gains or losses:
Included in earnings		-			-		121,500		121,500
Included in other comprehensive income		33,750			-		-		33,750
Ending balance	$	2,033,750		$	384,000	$	764,100	$	3,181,850
The Company experienced no transfers between Level 1 and Level 2 during the quarters ended March 31, 2014 or 2013. The Company experienced no transfers between Level 2 and Level 3 during the quarter ended March 31, 2014. The Company had four corporate fixed maturities that transferred from Level 3 to Level 2 during the quarter ended March 31, 2013. 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 March 31, 2014 and December 31, 2013, 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.
	31-Mar-14
	Carrying			Fair		Level 1		Level 2			Level 3
	Amount			Value
Assets:
Mortgage loans on real estate:
Commercial	$	14,500,101		$	15,107,081	$	-	$	15,107,081		$	-
Residential		4,495,340			4,786,288		-		4,786,288			-
Policy loans		6,614,711			6,614,711		-		-			6,614,711
State-guaranteed receivables		7,930,642			9,484,964		-		9,484,964			-
Other invested assets		3,316,675			3,316,675		-		-			3,316,675
Cash and cash equivalents		6,064,838			6,064,838		6,064,838		-			-
Accrued investment income		4,481,396			4,481,396		-		-			4,481,396
Cash value of company-owned life insurance		11,892,951			11,892,951		-		-			11,892,951
Liabilities:
Policyholder deposits (Investment-type contracts)		53,472,482			54,073,999		-		-			54,073,999
Policy claims		3,137,687			3,137,687		-		-			3,137,687
Obligations under capital leases		809,612			809,612		-		-			809,612
Notes payable		3,027,536			3,028,300		-		-			3,028,300
	31-Dec-13
	Carrying			Fair		Level 1		Level 2			Level 3
	Amount			Value
Assets:
Mortgage loans on real estate:
Commercial	$	15,478,188		$	16,128,845	$	-	$	16,128,845		$	-
Residential		3,123,534			3,273,306		-		3,273,306			-
Policy loans		6,674,887			6,674,887		-		-			6,674,887
State-guaranteed receivables		8,085,107			9,392,660		-		9,392,660			-
Other invested assets		3,181,182			3,181,182		-		-			3,181,182
Cash and cash equivalents		4,143,291			4,143,291		4,143,291		-			-
Accrued investment income		5,191,253			5,191,253		-		-			5,191,253
Cash value of company-owned life insurance		11,808,248			11,808,248		-		-			11,808,248
Liabilities:
Policyholder deposits (Investment-type contracts)		53,476,853			53,396,538		-		-			53,396,538
Policy claims		3,672,474			3,672,474		-		-			3,672,474
Obligations under capital leases		943,488			943,488		-		-			943,488
Notes payable		3,031,942			3,033,122		-		-			3,033,122
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 mortgage loans, the discount rate was assumed to be the interest rate of the last commercial mortgage acquired by the Company. For residential mortgage loans, the discount rate was assumed to be the average yield on recent 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	3 Months Ended
	Mar. 31, 2014
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 March 31, 2014 and 2013 were 1,128,583 and 1,141,886, respectively.

Note_7_Segment_Data

Note 7 - Segment Data	3 Months Ended
	Mar. 31, 2014
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 March 31,
		2014			2013
	Revenue:
	Preneed and burial products	$	11,212,714		$	12,354,365
	Traditional and universal life products		5,597,532			6,598,299
	Administrative and financial services		277,436			327,564
	Corporate and other		202,202			337,764
	Total revenue	$	17,289,884		$	19,617,992
	Pre-tax income (loss) from operations:
	Preneed and burial products	$	(308,578	)	$	(64,975	)
	Traditional and universal life products		192,491			295,344
	Administrative and financial services		46,231			73,559
	Corporate and other		2,151			117,925
	Total pre-tax income	$	(67,705	)	$	421,853

Note_8_Federal_Income_Taxes

Note 8 - Federal Income Taxes	3 Months Ended
	Mar. 31, 2014
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 2013 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)	3 Months Ended
	Mar. 31, 2014
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 ended March 31, 2014 and 2013.
		Quarter Ended March 31, 2014
		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	$	7,168,195		$	2,437,718		$	4,730,477
	Reclassification adjustment for losses included in income		3,806			761			3,045
	Adjustment for effect of deferred acquisition costs		(191,144	)		(64,988	)		(126,156	)
	Net unrealized losses on investments		6,980,857			2,373,491			4,607,366
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		97,603			33,185			64,418
	Total other comprehensive income	$	7,078,460		$	2,406,676		$	4,671,784
		Quarter Ended March 31, 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	$	(2,821,090	)	$	(959,042	)	$	(1,862,048	)
	Reclassification adjustment for gains included in income		(87,967	)		(29,824	)		(58,143	)
	Adjustment for effect of deferred acquisition costs		113,363			38,543			74,820
	Net unrealized losses on investments		(2,795,694	)		(950,323	)		(1,845,371	)
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		193,162			65,675			127,487
	Total other comprehensive loss	$	(2,602,532	)	$	(884,648	)	$	(1,717,884	)
	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 quarters ended March 31, 2014 and 2013 are as follows:
		Unrealized Gains			Defined			Accumulated
		(Losses) on			Benefit			Other
		Available-For-Sale			Pension			Comprehensive
		Securities			Plan			Income
	For the quarter ended March 31, 2014:
	Beginning balance	$	9,916,148		$	(3,164,157	)	$	6,751,991
	Other comprehensive income before reclassifications		4,604,321			-			4,604,321
	Amounts reclassified from accumulated other comprehensive income		3,045			64,418			67,463
	Net current period other comprehensive income		4,607,366			64,418			4,671,784
	Ending balance	$	14,523,514		$	(3,099,739	)	$	11,423,775
	For the quarter ended March 31, 2013:
	Beginning balance	$	28,088,103		$	(5,548,379	)	$	22,539,724
	Other comprehensive loss before reclassifications		(1,787,228	)		-			(1,787,228	)
	Amounts reclassified from accumulated other comprehensive income		(58,143	)		127,487			69,344
	Net current period other comprehensive income (loss)		(1,845,371	)		127,487			(1,717,884	)
	Ending balance	$	26,242,732		$	(5,420,892	)	$	20,821,840
	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 quarters ended March 31, 2014 and 2013.
		Quarter Ended March 31,
	Reclassification Adjustments	2014			2013
	Unrealized gains on available-for-sale securities:
	Realized gains (losses) on sale of securities (a)	$	(3,806	)	$	87,967
	Income tax benefit (expense) (c)		761			(29,824	)
	Net of tax		(3,045	)		58,143
	Defined benefit pension plan:
	Amortization of actuarial net loss (b)		(97,603	)		(193,162	)
	Income tax benefit (c)		33,185			65,675
	Net of tax		(64,418	)		(127,487	)
	Total reclassifications for the period	$	(67,463	)	$	(69,344	)
	(a) These items appear within net realized gains (losses) on investments in the consolidated income statements.
	(b) These items are included in the computation of net periodic pension 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	3 Months Ended
	Mar. 31, 2014
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 March 31,
		2014			2013
	Service cost	$	-		$	-
	Interest cost		261,264			167,180
	Expected return on plan assets		(299,418	)		(298,146	)
	Recognized actuarial net loss		97,603			193,162
	Net periodic pension cost	$	59,449		$	62,196
	We previously disclosed in our financial statements for the year ended December 31, 2013 that the Company expected to contribute $900,000 to our defined benefit pension plan during 2014. As of March 31, 2014, the Company had contributed $225,000 to the plan.

Note_4_Investments_Tables

Note 4 - Investments (Tables)	3 Months Ended
	Mar. 31, 2014
Investments Disclosure [Abstract]	'
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	'
	31-Mar-14	Amortized			Gross			Gross		Fair
		Cost			Unrealized			Unrealized		Value
					Gains			Losses
	Fixed maturity securities:
	U.S. government obligations	$	33,338,018		$	810,111		$	428,470	$	33,719,659
	States and political subdivisions		39,109,057			4,196,212			15,083		43,290,186
	Corporate		218,694,053			15,014,628			870,929		232,837,752
	Foreign		60,965,836			2,533,711			563,859		62,935,688
	Asset-backed securities		2,183,114			82,727			-		2,265,841
	Mortgage-backed securities (MBS):
	Commercial MBS		3,458,154			139,869			83		3,597,940
	Residential MBS		44,924,264			1,587,022			112,745		46,398,541
	Total fixed maturity securities		402,672,496			24,364,280			1,991,169		425,045,607
	Equity securities:
	U.S. agencies		687,000			-			-		687,000
	Mutual funds		318,284			14,250			-		332,534
	Corporate common stock		5,087,786			510,996			283,470		5,315,312
	Total equity securities		6,093,070			525,246			283,470		6,334,846
	Total	$	408,765,566		$	24,889,526		$	2,274,639	$	431,380,453
	31-Dec-13	Amortized			Gross			Gross		Fair
		Cost			Unrealized			Unrealized		Value
					Gains			Losses
	Fixed maturity securities:
	U.S. government obligations	$	34,485,660		$	793,701		$	703,570	$	34,575,791
	States and political subdivisions		39,910,030			3,145,632			60,898		42,994,764
	Corporate		217,659,449			12,535,411			2,251,886		227,942,974
	Foreign		56,960,366			2,081,436			1,395,450		57,646,352
	Asset-backed securities		2,677,953			109,417			-		2,787,370
	Mortgage-backed securities (MBS):
	Commercial MBS		4,252,765			160,955			-		4,413,720
	Residential MBS		46,449,968			1,443,228			345,062		47,548,134
	Total fixed maturity securities		402,396,191			20,269,780			4,756,866		417,909,105
	Equity securities:
	U.S. agencies		687,000			-			-		687,000
	Mutual funds		318,283			1,356			-		319,639
	Corporate common stock		4,883,078			422,880			494,264		4,811,694
	Total equity securities		5,888,361			424,236			494,264		5,818,333
	Total	$	408,284,552		$	20,694,016		$	5,251,130	$	423,727,438
Schedule of Unrealized Loss on Investments [Table Text Block]	'
		31-Mar-14								31-Dec-13
		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	$	12,516,688		$	428,470			2	$	17,401,555	$	703,570		3
	States and political subdivisions		734,918			15,083			1		1,239,103		60,898		2
	Corporate		25,004,309			575,542			18		56,249,758		2,076,123		37
	Foreign		22,574,776			563,859			12		26,858,417		1,395,450		15
	Commercial MBS		150,835			83			1		-		-		-
	Residential MBS		18,129,981			112,745			4		18,187,588		345,062		4
	Greater than 12 months:
	Corporate		2,940,262			295,387			2		1,072,341		175,763		1
	Total fixed maturities		82,051,769			1,991,169			40		121,008,762		4,756,866		62
	Equities:
	Less than 12 months:
	Corporate common stock		2,534,957			283,470			25		2,806,072		494,264		24
	Total equities		2,534,957			283,470			25		2,806,072		494,264		24
	Total	$	84,586,726		$	2,274,639			65	$	123,814,834	$	5,251,130		86
Unrealized Gain (Loss) on Investments [Table Text Block]	'
		March 31,			December 31,
		2014			2013
	Net unrealized appreciation on available-for sale securities	$	22,614,887		$	15,442,886
	Adjustment to deferred acquisition costs		(609,563	)		(418,419	)
	Deferred income taxes		(7,481,810	)		(5,108,319	)
	Net unrealized appreciation on available-for sale securities	$	14,523,514		$	9,916,148
Investments Classified by Contractual Maturity Date [Table Text Block]	'
		Available-for-Sale
		Amortized			Fair
		Cost			Value
	Due in one year or less	$	4,448,942		$	4,560,471
	Due after one year through five years		71,030,741			78,396,423
	Due after five years through ten years		198,395,008			206,994,396
	Due after ten years		48,719,277			53,200,976
	Due at multiple maturity dates		80,078,528			81,893,341
	Total	$	402,672,496		$	425,045,607
Realized Gain (Loss) on Investments [Table Text Block]	'
		Quarter Ended March 31,
		2014			2013
	Proceeds from sales and maturities	$	7,150,048		$	12,097,726
	Gross realized gains		21,672			102,664
	Gross realized losses		(25,478	)		(14,697	)
Realized and Unrealized Gains (Losses) on Investments [Table Text Block]	'
		Quarter Ended March 31,
		2014			2013
	Change in unrealized investment gains (losses):
	Available-for-sale:
	Fixed maturities	$	6,860,197		$	(2,931,791	)
	Equity securities		311,804			22,734
	Realized investment gains (losses):
	Available-for-sale:
	Fixed maturities	$	-		$	87,967
	Equity securities		(3,806	)		-
State Guaranteed Receivables, Classified by Contractual Maturity Date [Table Text Block]	'
		Amortized			Fair
		Cost			Value
	Due in one year or less	$	697,489		$	709,610
	Due after one year through five years		2,435,571			2,640,862
	Due after five years through ten years		2,909,617			3,540,396
	Due after ten years		1,887,965			2,594,096
	Total	$	7,930,642		$	9,484,964
Schedule Of Payments On State Guaranteed Receivables By State [Table Text Block]	'
		March 31,			December 31,
		2014			2013
	New York	$	3,768,623		$	3,880,368
	Massachusetts		1,910,752			1,927,350
	Georgia		1,480,842			1,500,719
	Pennsylvania		289,783			284,756
	Texas		216,247			212,447
	California		178,827			195,593
	Ohio		85,568			83,874
	Total	$	7,930,642		$	8,085,107
Investment Income [Table Text Block]	'
		Quarter Ended March 31,
		2014			2013
	Fixed maturities	$	4,709,081		$	4,807,522
	Equity securities		51,637			13,895
	Mortgage loans on real estate		303,876			278,064
	Policy loans		116,929			118,112
	State-guaranteed receivables		143,795			146,254
	Gain on investment in derivative		-			121,500
	Other		57,057			58,454
	Gross investment income		5,382,375			5,543,801
	Investment expenses		303,393			282,510
	Net investment income	$	5,078,982		$	5,261,291

Note_5_Fair_Values_of_Financia1

Note 5 - Fair Values of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
		31-Mar-14
		Level 1			Level 2		Level 3		Total
	Fixed maturities:
	U.S. government obligations	$	-		$	33,719,659	$	-	$	33,719,659
	States and political subdivisions		-			43,290,186		-		43,290,186
	Corporate		-			232,837,752		-		232,837,752
	Foreign		-			62,935,688		-		62,935,688
	Asset-backed securities		-			2,265,841		-		2,265,841
	Mortgage-backed securities:
	Commercial MBS		-			3,597,940		-		3,597,940
	Residential MBS		-			46,398,541		-		46,398,541
	Total fixed maturities	$	-		$	425,045,607	$	-	$	425,045,607
	Equity securities:
	U.S. agencies	$	687,000		$	-	$	-	$	687,000
	Mutual funds		332,534			-		-		332,534
	Corporate common stock		4,931,312			-		384,000		5,315,312
	Total equity securities	$	5,950,846		$	-	$	384,000	$	6,334,846
		31-Dec-13
		Level 1			Level 2		Level 3		Total
	Fixed maturities:
	U.S. government obligations	$	-		$	34,575,791	$	-	$	34,575,791
	States and political subdivisions		-			42,994,764		-		42,994,764
	Corporate		-			227,942,974		-		227,942,974
	Foreign		-			57,646,352		-		57,646,352
	Asset-backed securities		-			2,787,370		-		2,787,370
	Mortgage-backed securities:
	Commercial MBS		-			4,413,720		-		4,413,720
	Residential MBS		-			47,548,134		-		47,548,134
	Total fixed maturities	$	-		$	417,909,105	$	-	$	417,909,105
	Equity securities:
	U.S. agencies	$	687,000		$	-	$	-	$	687,000
	Mutual funds		319,639			-		-		319,639
	Corporate common stock		4,427,694			-		384,000		4,811,694
	Total equity securities	$	5,434,333		$	-	$	384,000	$	5,818,333
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
		Quarter Ended March 31, 2014
		Corporate			Corporate		Investment		Total
					Common		in
					Stock		Derivative
	Beginning balance	$	-		$	384,000	$	-	$	384,000
	Transfers into Level 3		-			-		-		-
	Transfers out of Level 3		-			-		-		-
	Purchases		-			-		-		-
	Sales		-			-		-		-
	Total gains or losses:
	Included in earnings		-			-		-		-
	Included in other comprehensive income		-			-		-		-
	Ending balance	$	-		$	384,000	$	-	$	384,000
		Quarter Ended March 31, 2013
		Corporate			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		(3,834,470	)		-		-		(3,834,470	)
	Purchases		2,000,000			-		-		2,000,000
	Sales		-			-		-		-
	Total gains or losses:
	Included in earnings		-			-		121,500		121,500
	Included in other comprehensive income		33,750			-		-		33,750
	Ending balance	$	2,033,750		$	384,000	$	764,100	$	3,181,850
Fair Value, by Balance Sheet Grouping [Table Text Block]	'
		31-Mar-14
		Carrying			Fair		Level 1		Level 2			Level 3
		Amount			Value
	Assets:
	Mortgage loans on real estate:
	Commercial	$	14,500,101		$	15,107,081	$	-	$	15,107,081		$	-
	Residential		4,495,340			4,786,288		-		4,786,288			-
	Policy loans		6,614,711			6,614,711		-		-			6,614,711
	State-guaranteed receivables		7,930,642			9,484,964		-		9,484,964			-
	Other invested assets		3,316,675			3,316,675		-		-			3,316,675
	Cash and cash equivalents		6,064,838			6,064,838		6,064,838		-			-
	Accrued investment income		4,481,396			4,481,396		-		-			4,481,396
	Cash value of company-owned life insurance		11,892,951			11,892,951		-		-			11,892,951
	Liabilities:
	Policyholder deposits (Investment-type contracts)		53,472,482			54,073,999		-		-			54,073,999
	Policy claims		3,137,687			3,137,687		-		-			3,137,687
	Obligations under capital leases		809,612			809,612		-		-			809,612
	Notes payable		3,027,536			3,028,300		-		-			3,028,300
		31-Dec-13
		Carrying			Fair		Level 1		Level 2			Level 3
		Amount			Value
	Assets:
	Mortgage loans on real estate:
	Commercial	$	15,478,188		$	16,128,845	$	-	$	16,128,845		$	-
	Residential		3,123,534			3,273,306		-		3,273,306			-
	Policy loans		6,674,887			6,674,887		-		-			6,674,887
	State-guaranteed receivables		8,085,107			9,392,660		-		9,392,660			-
	Other invested assets		3,181,182			3,181,182		-		-			3,181,182
	Cash and cash equivalents		4,143,291			4,143,291		4,143,291		-			-
	Accrued investment income		5,191,253			5,191,253		-		-			5,191,253
	Cash value of company-owned life insurance		11,808,248			11,808,248		-		-			11,808,248
	Liabilities:
	Policyholder deposits (Investment-type contracts)		53,476,853			53,396,538		-		-			53,396,538
	Policy claims		3,672,474			3,672,474		-		-			3,672,474
	Obligations under capital leases		943,488			943,488		-		-			943,488
	Notes payable		3,031,942			3,033,122		-		-			3,033,122

Note_7_Segment_Data_Tables

Note 7 - Segment Data (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
		Quarter Ended March 31,
		2014			2013
	Revenue:
	Preneed and burial products	$	11,212,714		$	12,354,365
	Traditional and universal life products		5,597,532			6,598,299
	Administrative and financial services		277,436			327,564
	Corporate and other		202,202			337,764
	Total revenue	$	17,289,884		$	19,617,992
	Pre-tax income (loss) from operations:
	Preneed and burial products	$	(308,578	)	$	(64,975	)
	Traditional and universal life products		192,491			295,344
	Administrative and financial services		46,231			73,559
	Corporate and other		2,151			117,925
	Total pre-tax income	$	(67,705	)	$	421,853

Note_9_Other_Comprehensive_Inc1

Note 9 - Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Comprehensive Income (Loss) [Table Text Block]	'
		Quarter Ended March 31, 2014
		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	$	7,168,195		$	2,437,718		$	4,730,477
	Reclassification adjustment for losses included in income		3,806			761			3,045
	Adjustment for effect of deferred acquisition costs		(191,144	)		(64,988	)		(126,156	)
	Net unrealized losses on investments		6,980,857			2,373,491			4,607,366
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		97,603			33,185			64,418
	Total other comprehensive income	$	7,078,460		$	2,406,676		$	4,671,784
		Quarter Ended March 31, 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	$	(2,821,090	)	$	(959,042	)	$	(1,862,048	)
	Reclassification adjustment for gains included in income		(87,967	)		(29,824	)		(58,143	)
	Adjustment for effect of deferred acquisition costs		113,363			38,543			74,820
	Net unrealized losses on investments		(2,795,694	)		(950,323	)		(1,845,371	)
	Change in defined benefit pension plan:
	Amortization of actuarial net loss in net periodic pension cost		193,162			65,675			127,487
	Total other comprehensive loss	$	(2,602,532	)	$	(884,648	)	$	(1,717,884	)
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
		Unrealized Gains			Defined			Accumulated
		(Losses) on			Benefit			Other
		Available-For-Sale			Pension			Comprehensive
		Securities			Plan			Income
	For the quarter ended March 31, 2014:
	Beginning balance	$	9,916,148		$	(3,164,157	)	$	6,751,991
	Other comprehensive income before reclassifications		4,604,321			-			4,604,321
	Amounts reclassified from accumulated other comprehensive income		3,045			64,418			67,463
	Net current period other comprehensive income		4,607,366			64,418			4,671,784
	Ending balance	$	14,523,514		$	(3,099,739	)	$	11,423,775
	For the quarter ended March 31, 2013:
	Beginning balance	$	28,088,103		$	(5,548,379	)	$	22,539,724
	Other comprehensive loss before reclassifications		(1,787,228	)		-			(1,787,228	)
	Amounts reclassified from accumulated other comprehensive income		(58,143	)		127,487			69,344
	Net current period other comprehensive income (loss)		(1,845,371	)		127,487			(1,717,884	)
	Ending balance	$	26,242,732		$	(5,420,892	)	$	20,821,840
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	'
		Quarter Ended March 31,
	Reclassification Adjustments	2014			2013
	Unrealized gains on available-for-sale securities:
	Realized gains (losses) on sale of securities (a)	$	(3,806	)	$	87,967
	Income tax benefit (expense) (c)		761			(29,824	)
	Net of tax		(3,045	)		58,143
	Defined benefit pension plan:
	Amortization of actuarial net loss (b)		(97,603	)		(193,162	)
	Income tax benefit (c)		33,185			65,675
	Net of tax		(64,418	)		(127,487	)
	Total reclassifications for the period	$	(67,463	)	$	(69,344	)

Note_10_Employee_Benefit_Plans1

Note 10 - Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]	'
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	'
		Quarter Ended March 31,
		2014			2013
	Service cost	$	-		$	-
	Interest cost		261,264			167,180
	Expected return on plan assets		(299,418	)		(298,146	)
	Recognized actuarial net loss		97,603			193,162
	Net periodic pension cost	$	59,449		$	62,196

Note_1_Nature_of_Operations_De

Note 1 - Nature of Operations (Details)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Percent of Revenue	99.00%

Note_4_Investments_Details

Note 4 - Investments (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Sep. 30, 2013	Dec. 31, 2013	Jun. 30, 2013
Note 4 - Investments (Details) [Line Items]	'	'	'	'
Restricted Cash and Investments (in Dollars)	$25,309,100	'	$25,209,390	'
Investment Properties, Commercial Percentage	76.30%	'	83.20%	'
Maximum Loan to Value Ratio Required	80.00%	'	'	'
Minimum Debt Service Coverage Required	115.00%	'	'	'
Residential Mortgages Purchased Through the Secondary Market (in Dollars)	733,000	'	2,116,000	'
Market Indexed Note (in Dollars)	'	'	'	3,000,000
Market Indexed Note, Interest Rate	'	'	'	1.00%
Market Indexed Note, Term	'	'	'	'6 years
Market Indexed Note, Participation	'	'	'	110.00%
Derivative Cost Basis (in Dollars)	'	'	'	645,000
Percent of Total Value	'	'	'	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	85.00%	'	84.00%	'
Equity Securities [Member]	'	'	'	'
Note 4 - Investments (Details) [Line Items]	'	'	'	'
Minimum Fair Value to Cost Ratio	69.00%	'	70.00%	'

Note_4_Investments_Details_Ava

Note 4 - Investments (Details) - Available-for-Sale Securities (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Fixed maturity securities:	'	'
Fixed Maturity Fair Value	$425,045,607	$417,909,105
Equity securities:	'	'
Equity Securities Fair Value	6,334,846	5,818,333
Amortized Cost	408,765,566	408,284,552
Gross Unrealized Gains	24,889,526	20,694,016
Gross Unrealized Losses	2,274,639	5,251,130
Fair Value	431,380,453	423,727,438
US Government Agencies Debt Securities [Member]	'	'
Fixed maturity securities:	'	'
Fixed Maturity Amortized Cost	33,338,018	34,485,660
Fixed Maturity Gross Unrealized Gains	810,111	793,701
Fixed Maturity Gross Unrealized Losses	428,470	703,570
Fixed Maturity Fair Value	33,719,659	34,575,791
Equity securities:	'	'
Fair Value	33,719,659	34,575,791
US States and Political Subdivisions Debt Securities [Member]	'	'
Fixed maturity securities:	'	'
Fixed Maturity Amortized Cost	39,109,057	39,910,030
Fixed Maturity Gross Unrealized Gains	4,196,212	3,145,632
Fixed Maturity Gross Unrealized Losses	15,083	60,898
Fixed Maturity Fair Value	43,290,186	42,994,764
Equity securities:	'	'
Fair Value	43,290,186	42,994,764
Corporate Debt Securities [Member]	'	'
Fixed maturity securities:	'	'
Fixed Maturity Amortized Cost	218,694,053	217,659,449
Fixed Maturity Gross Unrealized Gains	15,014,628	12,535,411
Fixed Maturity Gross Unrealized Losses	870,929	2,251,886
Fixed Maturity Fair Value	232,837,752	227,942,974
Equity securities:	'	'
Fair Value	232,837,752	227,942,974
Foreign [Member]	'	'
Fixed maturity securities:	'	'
Fixed Maturity Amortized Cost	60,965,836	56,960,366
Fixed Maturity Gross Unrealized Gains	2,533,711	2,081,436
Fixed Maturity Gross Unrealized Losses	563,859	1,395,450
Fixed Maturity Fair Value	62,935,688	57,646,352
Equity securities:	'	'
Fair Value	62,935,688	57,646,352
Asset-backed Securities [Member]	'	'
Fixed maturity securities:	'	'
Fixed Maturity Amortized Cost	2,183,114	2,677,953
Fixed Maturity Gross Unrealized Gains	82,727	109,417
Fixed Maturity Fair Value	2,265,841	2,787,370
Equity securities:	'	'
Fair Value	2,265,841	2,787,370
Commercial Mortgage Backed Securities [Member]	'	'
Fixed maturity securities:	'	'
Fixed Maturity Amortized Cost	3,458,154	4,252,765
Fixed Maturity Gross Unrealized Gains	139,869	160,955
Fixed Maturity Gross Unrealized Losses	83	'
Fixed Maturity Fair Value	3,597,940	4,413,720
Equity securities:	'	'
Fair Value	3,597,940	4,413,720
Residential Mortgage Backed Securities [Member]	'	'
Fixed maturity securities:	'	'
Fixed Maturity Amortized Cost	44,924,264	46,449,968
Fixed Maturity Gross Unrealized Gains	1,587,022	1,443,228
Fixed Maturity Gross Unrealized Losses	112,745	345,062
Fixed Maturity Fair Value	46,398,541	47,548,134
Equity securities:	'	'
Fair Value	46,398,541	47,548,134
Debt Securities [Member]	'	'
Fixed maturity securities:	'	'
Fixed Maturity Amortized Cost	402,672,496	402,396,191
Fixed Maturity Gross Unrealized Gains	24,364,280	20,269,780
Fixed Maturity Gross Unrealized Losses	1,991,169	4,756,866
Fixed Maturity Fair Value	425,045,607	417,909,105
Equity securities:	'	'
Amortized Cost	402,672,496	402,396,191
Fair Value	425,045,607	417,909,105
US Agencies [Member]	'	'
Equity securities:	'	'
Equity Securities Amortized Cost	687,000	687,000
Equity Securities Fair Value	687,000	687,000
Fair Value	687,000	687,000
Mutual Funds [Member]	'	'
Equity securities:	'	'
Equity Securities Amortized Cost	318,284	318,283
Equity Securities Gross Unrealized Gains	14,250	1,356
Equity Securities Fair Value	332,534	319,639
Fair Value	332,534	319,639
Common Stock [Member]	'	'
Equity securities:	'	'
Equity Securities Amortized Cost	5,087,786	4,883,078
Equity Securities Gross Unrealized Gains	510,996	422,880
Equity Securities Gross Unrealized Losses	283,470	494,264
Equity Securities Fair Value	5,315,312	4,811,694
Fair Value	5,315,312	4,811,694
Equity Securities [Member]	'	'
Equity securities:	'	'
Equity Securities Amortized Cost	6,093,070	5,888,361
Equity Securities Gross Unrealized Gains	525,246	424,236
Equity Securities Gross Unrealized Losses	283,470	494,264
Equity Securities Fair Value	6,334,846	5,818,333
Amortized Cost	6,093,070	5,888,361
Fair Value	$6,334,846	$5,818,333

Note_4_Investments_Details_Sec

Note 4 - Investments (Details) - Securities in an Unrealized Loss Position (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Greater than 12 months:	'	'
Estimated Fair Value	$84,586,726	$123,814,834
Gross Unrealized Loss	2,274,639	5,251,130
Number of Securities	65	86
US Government Agencies Debt Securities [Member]	'	'
Less than 12 months:	'	'
Estimated Fair Value	12,516,688	17,401,555
Gross Unrealized Loss	428,470	703,570
Number of Securities	2	3
US States and Political Subdivisions Debt Securities [Member]	'	'
Less than 12 months:	'	'
Estimated Fair Value	734,918	1,239,103
Gross Unrealized Loss	15,083	60,898
Number of Securities	1	2
Corporate Debt Securities [Member]	'	'
Less than 12 months:	'	'
Estimated Fair Value	25,004,309	56,249,758
Gross Unrealized Loss	575,542	2,076,123
Number of Securities	18	37
Greater than 12 months:	'	'
Corporate	2,940,262	1,072,341
Corporate	295,387	175,763
Corporate	2	1
Foreign [Member]	'	'
Less than 12 months:	'	'
Estimated Fair Value	22,574,776	26,858,417
Gross Unrealized Loss	563,859	1,395,450
Number of Securities	12	15
Commercial Mortgage Backed Securities [Member]	'	'
Less than 12 months:	'	'
Estimated Fair Value	150,835	'
Gross Unrealized Loss	83	'
Number of Securities	1	'
Residential Mortgage Backed Securities [Member]	'	'
Less than 12 months:	'	'
Estimated Fair Value	18,129,981	18,187,588
Gross Unrealized Loss	112,745	345,062
Number of Securities	4	4
Debt Securities [Member]	'	'
Greater than 12 months:	'	'
Estimated Fair Value	82,051,769	121,008,762
Gross Unrealized Loss	1,991,169	4,756,866
Number of Securities	40	62
Common Stock [Member]	'	'
Less than 12 months:	'	'
Estimated Fair Value	2,534,957	2,806,072
Gross Unrealized Loss	283,470	494,264
Number of Securities	25	24
Equity Securities [Member]	'	'
Greater than 12 months:	'	'
Estimated Fair Value	2,534,957	2,806,072
Gross Unrealized Loss	$283,470	$494,264
Number of Securities	25	24

Note_4_Investments_Details_Net

Note 4 - Investments (Details) - Net Unrealized Gains for Investments Classified as Available-for-Sale (USD $)	Mar. 31, 2014	Dec. 31, 2013
Net Unrealized Gains for Investments Classified as Available-for-Sale [Abstract]	'	'
Net unrealized appreciation on available-for sale securities	$22,614,887	$15,442,886
Adjustment to deferred acquisition costs	-609,563	-418,419
Deferred income taxes	-7,481,810	-5,108,319
Net unrealized appreciation on available-for sale securities	$14,523,514	$9,916,148

Note_4_Investments_Details_Fix

Note 4 - Investments (Details) - Fixed Maturity Securities by Contractual Maturity (USD $)	Mar. 31, 2014	Dec. 31, 2013
Note 4 - Investments (Details) - Fixed Maturity Securities by Contractual Maturity [Line Items]	'	'
Total	$425,045,607	$417,909,105
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	4,448,942	'
Due in one year or less	4,560,471	'
Due after one year through five years	71,030,741	'
Due after one year through five years	78,396,423	'
Due after five years through ten years	198,395,008	'
Due after five years through ten years	206,994,396	'
Due after ten years	48,719,277	'
Due after ten years	53,200,976	'
Due at multiple maturity dates	80,078,528	'
Due at multiple maturity dates	81,893,341	'
Total	402,672,496	'
Total	$425,045,607	'

Note_4_Investments_Details_Pro

Note 4 - Investments (Details) - Proceeds from Sales and Maturities of Investments in Available-for-Sale (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Proceeds from Sales and Maturities of Investments in Available-for-Sale [Abstract]	'	'
Proceeds from sales and maturities	$7,150,048	$12,097,726
Gross realized gains	21,672	102,664
Gross realized losses	($25,478)	($14,697)

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
	Mar. 31, 2014	Mar. 31, 2013
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)	$6,860,197	($2,931,791)
Realized investment gains (losses)	'	87,967
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)	311,804	22,734
Realized investment gains (losses)	($3,806)	'

Note_4_Investments_Details_Sta

Note 4 - Investments (Details) - State-Guaranteed Receivables by Contractual Maturity (USD $)	Mar. 31, 2014	Dec. 31, 2013
Note 4 - Investments (Details) - State-Guaranteed Receivables by Contractual Maturity [Line Items]	'	'
Total	$9,484,964	$9,392,660
State-Guaranteed Receivables [Member]	'	'
Note 4 - Investments (Details) - State-Guaranteed Receivables by Contractual Maturity [Line Items]	'	'
Due in one year or less	697,489	'
Due in one year or less	709,610	'
Due after one year through five years	2,435,571	'
Due after one year through five years	2,640,862	'
Due after five years through ten years	2,909,617	'
Due after five years through ten years	3,540,396	'
Due after ten years	1,887,965	'
Due after ten years	2,594,096	'
Total	7,930,642	'
Total	$9,484,964	'

Note_4_Investments_Details_Amo

Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State (USD $)	Mar. 31, 2014	Dec. 31, 2013
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	$7,930,642	$8,085,107
NEW YORK	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	3,768,623	3,880,368
MASSACHUSETTS	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	1,910,752	1,927,350
GEORGIA	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	1,480,842	1,500,719
PENNSYLVANIA	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	289,783	284,756
TEXAS	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	216,247	212,447
CALIFORNIA	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	178,827	195,593
OHIO	'	'
Note 4 - Investments (Details) - Amortized Cost of State-guaranteed Receivables, by State [Line Items]	'	'
Amortized Cost of State-guaranteed Receivables	$85,568	$83,874

Note_4_Investments_Details_Net1

Note 4 - Investments (Details) - Net Investment Income (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net Investment Income [Line Items]	'	'
Gross investment income	$5,382,375	$5,543,801
Investment expenses	303,393	282,510
Net investment income	5,078,982	5,261,291
Fixed Maturities [Member]	'	'
Net Investment Income [Line Items]	'	'
Gross investment income	4,709,081	4,807,522
Equity Securities [Member]	'	'
Net Investment Income [Line Items]	'	'
Gross investment income	51,637	13,895
Mortgage Loans on Real Estate [Member]	'	'
Net Investment Income [Line Items]	'	'
Gross investment income	303,876	278,064
Policy Loans [Member]	'	'
Net Investment Income [Line Items]	'	'
Gross investment income	116,929	118,112
State-Guaranteed Receivables [Member]	'	'
Net Investment Income [Line Items]	'	'
Gross investment income	143,795	146,254
Derivative [Member]	'	'
Net Investment Income [Line Items]	'	'
Gross investment income	'	121,500
Other Long-term Investments [Member]	'	'
Net Investment Income [Line Items]	'	'
Gross investment income	$57,057	$58,454

Note_5_Fair_Values_of_Financia2

Note 5 - Fair Values of Financial Instruments (Details)	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013
		Private Equity Investment [Member]	Transferred from Level 3 to Level 2 [Member]
Note 5 - Fair Values of Financial Instruments (Details) [Line Items]	'	'	'
Fair Value Hierarchy, Number of Input Levels	3	'	'
Number of Level 3 Investments Reported at Fair Value	'	1	'
Number of Investments Transferred Between Levels	'	'	4

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 $)	Mar. 31, 2014	Dec. 31, 2013
Fixed maturities:	'	'
Available-for-sale Securities	$431,380,453	$423,727,438
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	33,719,659	34,575,791
US Government Agencies Debt Securities [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	33,719,659	34,575,791
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	43,290,186	42,994,764
US States and Political Subdivisions Debt Securities [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	43,290,186	42,994,764
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	232,837,752	227,942,974
Corporate Debt Securities [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	232,837,752	227,942,974
Foreign [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	62,935,688	57,646,352
Foreign [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	62,935,688	57,646,352
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	2,265,841	2,787,370
Asset-backed Securities [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	2,265,841	2,787,370
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	3,597,940	4,413,720
Commercial Mortgage Backed Securities [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	3,597,940	4,413,720
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	46,398,541	47,548,134
Residential Mortgage Backed Securities [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	46,398,541	47,548,134
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	425,045,607	417,909,105
Debt Securities [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	425,045,607	417,909,105
US Agencies [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	687,000	687,000
US Agencies [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	687,000	687,000
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	332,534	319,639
Mutual Funds [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	332,534	319,639
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	4,931,312	4,427,694
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	384,000	384,000
Common Stock [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	5,315,312	4,811,694
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	5,950,846	5,434,333
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	384,000	384,000
Equity Securities [Member]	'	'
Fixed maturities:	'	'
Available-for-sale Securities	$6,334,846	$5,818,333

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
	Mar. 31, 2014	Mar. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Beginning balance	$384,000	$4,861,070
Transfers into Level 3	0	0
Transfers out of Level 3	0	-3,834,470
Purchases	0	2,000,000
Sales	0	0
Included in earnings	0	121,500
Included in other comprehensive income (loss)	0	33,750
Ending balance	384,000	3,181,850
Corporate Debt Securities [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Beginning balance	0	3,834,470
Transfers into Level 3	0	0
Transfers out of Level 3	0	-3,834,470
Purchases	0	2,000,000
Sales	0	0
Included in earnings	0	0
Included in other comprehensive income (loss)	0	33,750
Ending balance	0	2,033,750
Common Stock [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Beginning balance	384,000	384,000
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Purchases	0	0
Sales	0	0
Included in earnings	0	0
Included in other comprehensive income (loss)	0	0
Ending balance	384,000	384,000
Derivative [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Beginning balance	0	642,600
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Purchases	0	0
Sales	0	0
Included in earnings	0	121,500
Included in other comprehensive income (loss)	0	0
Ending balance	$0	$764,100

Note_5_Fair_Values_of_Financia5

Note 5 - Fair Values of Financial Instruments (Details) - Estimated Fair Values of Financial Instruments (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	$18,995,441	$18,601,722	'	'
Policy loans	6,614,711	6,674,887	'	'
State-guaranteed receivables	7,930,642	8,085,107	'	'
State-guaranteed receivables	9,484,964	9,392,660	'	'
Other invested assets	3,316,675	3,181,182	'	'
Cash and cash equivalents	6,064,838	4,143,291	5,911,057	6,009,905
Cash and cash equivalents	6,064,838	4,143,291	'	'
Accrued investment income	4,481,396	5,191,253	'	'
Cash value of company-owned life insurance	11,892,951	11,808,248	'	'
Liabilities:	'	'	'	'
Policyholder deposits (Investment-type contracts)	53,472,482	53,476,853	'	'
Policyholder deposits (Investment-type contracts)	54,073,999	53,396,538	'	'
Policy claims	3,137,687	3,672,474	'	'
Obligations under capital leases	809,612	943,488	'	'
Notes payable	3,027,536	3,031,942	'	'
Notes payable	3,028,300	3,033,122	'	'
Commercial Mortgage [Member] | Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	15,107,081	16,128,845	'	'
Commercial Mortgage [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	14,500,101	15,478,188	'	'
Mortgage loans on real estate	15,107,081	16,128,845	'	'
Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	4,786,288	3,273,306	'	'
Residential Mortgage [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Mortgage loans on real estate	4,495,340	3,123,534	'	'
Mortgage loans on real estate	4,786,288	3,273,306	'	'
Fair Value, Inputs, Level 1 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Cash and cash equivalents	6,064,838	4,143,291	'	'
Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
State-guaranteed receivables	9,484,964	9,392,660	'	'
Fair Value, Inputs, Level 3 [Member]	'	'	'	'
Mortgage loans on real estate:	'	'	'	'
Policy loans	6,614,711	6,674,887	'	'
Other invested assets	3,316,675	3,181,182	'	'
Accrued investment income	4,481,396	5,191,253	'	'
Cash value of company-owned life insurance	11,892,951	11,808,248	'	'
Liabilities:	'	'	'	'
Policyholder deposits (Investment-type contracts)	54,073,999	53,396,538	'	'
Policy claims	3,137,687	3,672,474	'	'
Obligations under capital leases	809,612	943,488	'	'
Notes payable	$3,028,300	$3,033,122	'	'

Note_6_Earnings_per_Share_Deta

Note 6 - Earnings per Share (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Weighted Average Number of Shares Outstanding, Basic	1,128,583	1,141,886

Note_7_Segment_Data_Details

Note 7 - Segment Data (Details)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Number of Operating Segments	4

Note_7_Segment_Data_Details_Se

Note 7 - Segment Data (Details) - Segments by Operating Information (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Revenue	$17,289,884	$19,617,992
Pre-tax income (loss) from operations	-67,705	421,853
Preneed and Burial Products [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Revenue	11,212,714	12,354,365
Pre-tax income (loss) from operations	-308,578	-64,975
Traditional and Universal Life Products [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Revenue	5,597,532	6,598,299
Pre-tax income (loss) from operations	192,491	295,344
Administrative and Financial Services [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Revenue	277,436	327,564
Pre-tax income (loss) from operations	46,231	73,559
Corporate and Other [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Revenue	202,202	337,764
Pre-tax income (loss) from operations	$2,151	$117,925

Note_9_Other_Comprehensive_Inc2

Note 9 - Other Comprehensive Income (Loss) (Details) - Other Comprehensive Income (USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013
Change in net unrealized gains on available-for-sale securities:	'		'
Unrealized holding gains (losses) arising during period	$7,168,195		($2,821,090)
Unrealized holding gains (losses) arising during period	2,437,718		-959,042
Unrealized holding gains (losses) arising during period	4,730,477		-1,862,048
Reclassification adjustment for losses (gains) included in income	3,806	[1]	-87,967	[1]
Reclassification adjustment for losses (gains) included in income	761	[2]	-29,824	[2]
Reclassification adjustment for losses (gains) included in income	3,045		-58,143
Adjustment for effect of deferred acquisition costs	-191,144		113,363
Adjustment for effect of deferred acquisition costs	-64,988		38,543
Adjustment for effect of deferred acquisition costs	-126,156		74,820
Net unrealized gains (losses) on investments	6,980,857		-2,795,694
Net unrealized gains (losses) on investments	2,373,491		-950,323
Net unrealized gains (losses) on investments	4,607,366		-1,845,371
Change in defined benefit pension plan:	'		'
Amortization of actuarial net loss in net periodic pension cost	97,603	[3]	193,162	[3]
Amortization of actuarial net loss in net periodic pension cost	33,185	[2]	65,675	[2]
Amortization of actuarial net loss in net periodic pension cost	64,418		127,487
Total other comprehensive income (loss)	7,078,460		-2,602,532
Total other comprehensive income (loss)	2,406,676		-884,648
Total other comprehensive income (loss)	$4,671,784		($1,717,884)
[1]	These items appear within net realized gains (losses) 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 pension cost (see Note 10).

Note_9_Other_Comprehensive_Inc3

Note 9 - Other Comprehensive Income (Loss) (Details) - Accumulated Other Comprehensive Income (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Beginning balance	$6,751,991	$22,539,724
Other comprehensive income before reclassifications	4,604,321	-1,787,228
Amounts reclassified from accumulated other comprehensive income	67,463	69,344
Net current period other comprehensive income	4,671,784	-1,717,884
Ending balance	11,423,775	20,821,840
Accumulated Net Unrealized Investment Gain (Loss) [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Beginning balance	9,916,148	28,088,103
Other comprehensive income before reclassifications	4,604,321	-1,787,228
Amounts reclassified from accumulated other comprehensive income	3,045	-58,143
Net current period other comprehensive income	4,607,366	-1,845,371
Ending balance	14,523,514	26,242,732
Accumulated Defined Benefit Plans Adjustment [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Beginning balance	-3,164,157	-5,548,379
Amounts reclassified from accumulated other comprehensive income	64,418	127,487
Net current period other comprehensive income	64,418	127,487
Ending balance	($3,099,739)	($5,420,892)

Note_9_Other_Comprehensive_Inc4

Note 9 - Other Comprehensive Income (Loss) (Details) - Amounts Reclassified from AOCI to Income (USD $)	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013
Amounts Reclassified from AOCI to Income [Abstract]	'		'
Realized gains (losses) on sale of securities (a)	($3,806)	[1]	$87,967	[1]
Income tax benefit (expense) (c)	761	[2]	-29,824	[2]
Net of tax	-3,045		58,143
Amortization of actuarial net loss (b)	-97,603	[3]	-193,162	[3]
Income tax benefit (c)	33,185	[2]	65,675	[2]
Net of tax	-64,418		-127,487
Total reclassifications for the period	($67,463)		($69,344)
[1]	These items appear within net realized gains (losses) 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 pension cost (see Note 10).

Note_10_Employee_Benefit_Plans2

Note 10 - Employee Benefit Plans (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]	'	'
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year	'	$900,000
Defined Benefit Plan, Contributions by Employer	$225,000	'

Note_10_Employee_Benefit_Plans3

Note 10 - Employee Benefit Plans (Details) - Net Periodic Benefit Cost (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net Periodic Benefit Cost [Abstract]	'	'
Interest cost	$261,264	$167,180
Expected return on plan assets	-299,418	-298,146
Recognized actuarial net loss	97,603	193,162
Net periodic pension cost	$59,449	$62,196