Independence Holding (IHC) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Nov. 01, 2015	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	Independence Holding Company
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Entity Central Index Key	701,869
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		17,263,258
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Public Float			$ 98,596
Trading Symbol	ihc

INDEPENDENCE HOLDING COMPANY CO

INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (September 30, 2015 Unaudited) - USD ($) $ in Thousands		Sep. 30, 2015		Dec. 31, 2014
Investments:
Short-term investments		$ 50		$ 50
Securities purchased under agreements to resell		11,082		16,790
Trading securities		8,993		11,095
Fixed maturities, available-for-sale		435,929		583,880
Equity securities, available-for-sale		8,748		13,895
Other investments		24,037		25,251
Total investments		488,839		650,961
Cash and cash equivalents		18,730		25,083
Deferred acquisition costs		524		30,806
Due and unpaid premiums		68,988		62,628
Due from reinsurers		481,813		278,242
Premium and claim funds		24,420		32,553
Goodwill		53,371		50,318
Other assets		54,637		57,126
TOTAL ASSETS		1,191,322		1,187,717
LIABILITIES:
Policy benefits and claims		252,927		236,803
Future policy benefits		270,047		277,041
Funds on deposit		172,087		186,782
Unearned premiums		13,448		9,455
Other policyholders' funds		12,035		18,802
Due to reinsurers		36,904		47,945
Accounts payable, accruals and other liabilities		68,659		67,641
Debt		5,189		4,000
Junior subordinated debt securities		38,146		38,146
TOTAL LIABILITIES		$ 869,442		$ 886,615
IHC STOCKHOLDERS' EQUITY:
Preferred stock	[1]
Common Stock	[2]	$ 18,556	[3]	$ 18,531	[4]
Paid-in capital		127,580		127,098
Accumulated other comprehensive income (loss)		(1,346)		22
Treasury stock, at cost		(13,890)	[5]	(12,141)	[6]
Retained earnings		181,817		157,667
TOTAL IHC STOCKHOLDERS' EQUITY		312,717		291,177
NONCONTROLLING INTERESTS IN SUBSIDIARIES		9,163		9,925
TOTAL EQUITY		321,880		301,102
TOTAL LIABILITIES AND EQUITY		$ 1,191,322		$ 1,187,717
[1]	None issued.
[2]	$1.00 par value.
[3]	23,000,000 shares authorized, 18,555,683 shares issued and 17,257,630 shares outstanding.
[4]	23,000,000 shares authorized, 18,531,158 shares issued and 17,371,040 shares outstanding.
[5]	1,298,053 treasury shares
[6]	1,160,118 treasury shares

INDEPENDENCE HOLDING COMPANY C3

INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (September 30, 2015 Unaudited) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
STATEMENT OF FINANCIAL POSITION
Preferred Stock, shares issued	0	0
Common Stock, par value	$ 1	$ 1
Common Stock, shares authorized	23,000,000	23,000,000
Common Stock, shares issued	18,555,683	18,531,158
Common Stock, shares outstanding	17,257,630	17,371,040
Treasury Stock, shares	1,298,053	1,160,118

INDEPENDENCE HOLDING COMPANY C4

INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES:
Premiums earned	$ 119,038	$ 117,705	$ 361,595	$ 362,110
Net investment income	3,938	5,439	13,884	16,674
Fee income	2,826	4,813	11,029	18,013
Other income	5,792	951	8,356	3,132
Gain on sale of subsidiary to joint venture	10,161		10,161
Net realized investment gains	(1,109)	844	2,991	6,914
Other-than-temporary impairment losses:
Total other-than-temporary impairment losses	(228)		(228)
Net impairment losses recognized in earnings	(228)		(228)
TOTAL REVENUES	140,418	129,752	407,788	406,843
EXPENSES:
Insurance benefits, claims and reserves	74,218	74,916	233,218	243,488
Selling, general and administrative expenses	41,984	44,916	129,835	137,998
Amortization of deferred acquisition costs	558	1,416	3,446	3,887
Interest expense on debt	444	539	1,354	1,357
TOTAL EXPENSES	117,204	121,787	367,853	386,730
Income (loss) before income taxes	23,214	7,965	39,935	20,113
Income taxes (benefits)	8,326	3,141	14,560	7,404
Net income (loss)	14,888	4,824	25,375	12,709
(Income) loss from noncontrolling interests in subsidiaries	(128)	(114)	(364)	(450)
NET INCOME (LOSS) ATTRIBUTABLE TO IHC	$ 14,760	$ 4,710	$ 25,011	$ 12,259
Basic income (loss) per common share	$ 0.85	$ 0.27	$ 1.44	$ 0.70
WEIGHTED AVERAGE SHARES OUTSTANDING	17,292	17,410	17,331	17,505
Diluted income (loss) per common share	$ 0.85	$ 0.27	$ 1.43	$ 0.69
WEIGHTED AVERAGE DILUTED SHARES OUTSTANDING	17,457	17,578	17,496	17,665

INDEPENDENCE HOLDING COMPANY C5

INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
STATEMENT OF COMPREHENSIVE INCOME
Net income (loss)	$ 14,888	$ 4,824	$ 25,375	$ 12,709
Available-for-sale securities:
Unrealized gains (losses) on available-for-sale securities	2,948	(2,348)	(2,192)	10,672
Tax (benefit) on unrealized gains (losses) on available-for-sale securities	1,046	(550)	(843)	3,327
Unrealized gains (losses) on available-for-sale securities, net of tax	1,902	(1,798)	(1,349)	7,345
Cash flow hedge:
Unrealized gains (losses) on cash flow hedge, pre-tax	34	69	62	107
Tax (benefit) on unrealized gains (losses) on cash flow hedge	14	28	25	43
Unrealized gains (losses) on cash flow hedge, net of taxes	20	41	37	64
Other comprehensive income (loss), net of tax	1,922	(1,757)	(1,312)	7,409
Comprehensive income (loss), net of tax	16,810	3,067	24,063	20,118
Comprehensive (income) loss, net of tax, attributable to noncontrolling interests:
(Income) loss from noncontrolling interests in subsidiaries	(128)	(114)	(364)	(450)
Other comprehensive (income) loss, net of tax, attributable to noncontrolling interests:
Net unrealized (gains) losses on available-for-sale securities, net of tax, attributable to noncontrolling interests	(51)	81	(61)	(132)
Other comprehensive (income) loss, net of tax, attributable to noncontrolling interests	(51)	81	(61)	(132)
Comprehensive (income) loss, net of tax, attributable to noncontrolling interests	(179)	(33)	(425)	(582)
Comprehensive income (loss), net of tax, attributable to IHC	$ 16,631	$ 3,034	$ 23,638	$ 19,536

INDEPENDENCE HOLDING COMPANY C6

INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	COMMON STOCK	PAID-IN CAPITAL	ACCUMULATED OTHER COMPREHENSIVE INCOME(LOSS)	TREASURY STOCK, AT COST	RETAINED EARNINGS	TOTAL IHC STOCKHOLDERS' EQUITY		NON-CONTROLLING INTERESTS	Total
Stockholders Equity at Dec. 31, 2014	$ 18,531	$ 127,098	$ 22	$ (12,141)	$ 157,667	$ 291,177		$ 9,925	$ 301,102
Net income (loss)					25,011	25,011		364	25,375
Other comprehensive income (loss), net of tax			(1,373)			(1,373)		61	(1,312)
Repurchases of common stock				(1,749)		(1,749)			(1,749)
Common stock dividend					(783)	(783)	[1]		(783)	[1]
Acquisition of Subsidiary								608	608
Purchases of noncontrolling interests		112	5			117		(1,851)	(1,734)
Share-based compensation and related tax effects	25	265				290			290
Other capital transactions		105			(78)	27		56	83
Stockholders Equity at Sep. 30, 2015	$ 18,556	$ 127,580	$ (1,346)	$ (13,890)	$ 181,817	$ 312,717		$ 9,163	$ 321,880
[1]	$.045 per share.

INDEPENDENCE HOLDING COMPANY C7

INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical)	9 Months Ended
	Sep. 30, 2015$ / shares
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
Common stock dividends declared, per share	$ 0.045

INDEPENDENCE HOLDING COMPANY C8

INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS PROVIDED BY (USED BY) OPERATING ACTIVITIES:
Net income (loss)	$ 25,375	$ 12,709
Adjustments to reconcile net income to net change in cash from operating activities:
Gain on sale of subsidiary to joint venture	(10,161)
Gain on disposition of assets	(5,053)
Amortization of deferred acquisition costs	3,446	3,887
Net realized investment gains	(2,991)	(6,914)
Net impairment losses recognized in earnings	228
Equity income from equity method investments	(579)	(1,030)
Depreciation and amortization	2,317	2,971
Deferred tax expense (benefits)	(6,313)	4,146
Other adjustments to reconcile net income	3,654	7,199
Changes in assets and liabilities:
Net sales (purchases) of trading securities	160	(4,501)
Change in insurance liabilities	(17,627)	(106,540)
(Additions) reductions to deferred acquisition costs, net	26,827	(4,551)
Change in amount due from reinsurers	(203,570)	100,206
Change in premium and claim funds	(3,556)	(2,156)
Change in current income tax liability	17,376	5,110
Change in due and unpaid premiums	(6,360)	(2,385)
Change in other assets	(6,702)	3,842
Change in other liabilities	6,973	(6,344)
Net change in cash from operating activities	(176,556)	5,649
CASH FLOWS PROVIDED BY (USED BY) INVESTING ACTIVITIES:
Net sales (purchases) of securities under resale and repurchase agreements	5,708	6,181
Sales of equity securities	9,187	288
Purchases of equity securities	(4,423)	(1,228)
Sales of fixed maturities	601,187	295,964
Maturities and other repayments of fixed maturities	36,505	32,993
Purchases of fixed maturities	(491,069)	(338,639)
Acquisition of subsidiary, net of cash acquired	511
Proceeds from deconsoidation of subsidiary, net of cash divested	3,524
Proceeds from sale of assets	8,000
Change in policy loans	10,629	647
Other investing activites	(1,035)	2,034
Net change in cash from investing activities	178,724	(1,760)
CASH FLOWS PROVIDED BY (USED BY) FINANCING ACTIVITIES:
Payments for repurchases of common stock	(1,722)	(3,953)
Cash paid in acquisitions of noncontrolling interests	(1,734)
Proceeds (withdrawals) of investment-type insurance contracts	(1,756)	(2,286)
Repayment of long-term debt	(2,137)	(2,000)
Dividends paid	(1,392)	(1,233)
Other financing activities	220	(431)
Net change in cash from financing activities	(8,521)	(9,903)
Net change in cash and cash equivalents	(6,353)	(6,014)
Cash and cash equivalents, beginning of period	25,083	24,229
Cash and cash equivalents, end of period	$ 18,730	$ 18,215

Note 1. Organization, Consolida

Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies	9 Months Ended
	Sep. 30, 2015
Notes
Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies	Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies (A) Business and Organization Independence Holding Company, a Delaware corporation (“IHC”), is a holding company principally engaged in the life and health insurance business through: (i) its insurance companies, Standard Security Life Insurance Company of New York ("Standard Security Life"), Madison National Life Insurance Company, Inc. ("Madison National Life"), Independence American Insurance Company (“Independence American”); and (ii) its marketing and administrative companies, including IHC Risk Solutions, LLC, IHC Specialty Benefits Inc. and IHC Carrier Solutions, Inc. IHC also owns a significant equity interest in: (i) Ebix Health Exchange Holdings, LLC (“Ebix Health Exchange”), a newly formed administration exchange for health and pet insurance; and (ii) a managing general underwriter (“MGU”) that writes medical stop-loss. Standard Security Life, Madison National Life and Independence American are sometimes collectively referred to as the “Insurance Group”. IHC and its subsidiaries (including the Insurance Group) are sometimes collectively referred to as the "Company", or “IHC”, or are implicit in the terms “we”, “us” and “our”. Geneve Corporation, a diversified financial holding company, and its affiliated entities, held 53% of IHC's outstanding common stock at September 30, 2015. (B) Consolidation American Independence Corp. American Independence Corp. (“AMIC”) is an insurance holding company engaged in the insurance and reinsurance business. At December 31, 2014, the Company owned approximately 90% of the outstanding common stock of AMIC. In the second quarter of 2015, AMIC acquired Global Accident Facilities, LLC (“GAF”). See Note 6 for more information regarding the acquisition of GAF. Effects of Ownership Changes in Less Than Wholly Owned Subsidiaries The following table summarizes the effects of changes in the Company’s ownership interests in its less than wholly owned subsidiaries on IHC’s equity for periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Changes in IHC’s paid-in capital: Purchase of AMIC shares $ - $ - $ (199) $ - Purchase remaining IPA Family, LLC interests - - 311 - Net transfers from noncontrolling interests $ - $ - $ 112 $ - (C) Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The Condensed Consolidated Financial Statements are unaudited and include the accounts of IHC and its consolidated subsidiaries. Effective September 1, 2015 (“Deconsolidation Date”), pursuant to the terms of a contribution agreement, IHC contributed all of its shares in its subsidiary, IHC Health Solutions, Inc. (“IHC Health Solutions”) to Ebix Health Exchange, a newly formed joint venture with Ebix, Inc. (“Ebix”), and, as a result, IHC deconsolidated IHC Health Solutions (see Note 6). In accordance with U.S. GAAP, the accompanying Condensed Consolidated Financial Statements include the operating results of IHC Health Solutions prior to the Deconsolidation Date. Subsequent to the Deconsolidation Date, the Company’s equity interest in the newly formed joint venture is accounted for under the equity method of accounting. All significant intercompany transactions have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect: (i) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (ii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. IHC’s annual report on Form 10-K as filed with the Securities and Exchange Commission should be read in conjunction with the accompanying Condensed Consolidated Financial Statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) that are necessary for a fair presentation of the consolidated financial position and results of operations for the interim periods have been included. The condensed consolidated results of operations for the three months and nine months ended September 30, 2015 (D) Reclassifications Certain amounts in prior year’s Condensed Consolidated Financial Statements and Notes thereto have been reclassified to conform to the 2015 presentation. (E) Recent Accounting Pronouncements Recently Adopted Accounting Standards In April 2014, the FASB issued guidance: (i) improving the definition of discontinued operations by limiting the reporting of discontinued operations to disposals of components that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results; and (ii) requiring expanded disclosures for discontinued operations. The adoption of this guidance did not have any effect on the Company’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In September 2015, the FASB issued guidance to simplify the accounting for adjustments made to provisional amounts recognized in a business combination and eliminate the requirement to retrospectively account for those adjustments. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted for financial statements that have not been issued. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In May 2015, the FASB issued guidance requiring additional disclosures for short-duration contracts regarding the liability for unpaid claims and claim adjustment expenses. For public entities, the guidance is effective for annual reporting periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted. The adoption of this guidance is not expected to have a significant effect on the Company’s consolidated financial statements. In February 2015, In June 2014, the FASB issued explicit guidance for entities that grant their employees share-based payments in which the terms of the award include a performance target that affects vesting and could be achieved after the requisite service period. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Earlier adoption is permitted. The guidance may be applied either prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In May 2014, the FASB issued revenue recognition guidance for entities that either enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards such as insurance contracts or lease contracts. The amendment provides specific steps that an entity should apply in order to achieve its main objective which is recognizing revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the effective date of this guidance has been deferred. For public entities, this guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and requires one of two specified retrospective methods of application. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Management has not yet determined the impact that the adoption of this guidance will have on the Company’s consolidated financial statements.

Note 2. Income Per Common Share

Note 2. Income Per Common Share	9 Months Ended
	Sep. 30, 2015
Notes
Note 2. Income Per Common Share	Note 2. Income Per Common Share Diluted earnings per share was computed using the treasury stock method and includes incremental common shares, primarily from the dilutive effect of share-based payment awards, amounting to 165,000 shares for both the three months and nine months ended September 30, 2015

Note 3. Investment Securities

Note 3. Investment Securities	9 Months Ended
	Sep. 30, 2015
Notes
Note 3. Investment Securities	Note 3. Investment Securities The cost (amortized cost with respect to certain fixed maturities), gross unrealized gains, gross unrealized losses and fair value of investment securities are as follows for the periods indicated (in thousands): September 30, 2015 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 170,411 $ 411 $ (4,575) $ 166,247 CMOs - residential (1) 3,165 45 - 3,210 CMOs - commercial 975 303 - 1,278 U.S. Government obligations 36,269 334 - 36,603 Agency MBS - residential (2) 36 1 - 37 GSEs (3) 11,901 25 (243) 11,683 States and political subdivisions 209,143 3,300 (1,552) 210,891 Foreign government obligations 1,837 50 - 1,887 Redeemable preferred stocks 4,036 98 (41) 4,093 Total fixed maturities $ 437,773 $ 4,567 $ (6,411) $ 435,929 EQUITY SECURITIES AVAILABLE-FOR-SALE: Common stocks $ 4,927 $ - $ (355) $ 4,572 Nonredeemable preferred stocks 4,004 172 - 4,176 Total equity securities $ 8,931 $ 172 $ (355) $ 8,748 December 31, 2014 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 264,162 $ 1,076 $ (3,314) $ 261,924 CMOs - residential (1) 5,073 55 (22) 5,106 CMOs - commercial 975 - (22) 953 U.S. Government obligations 22,766 126 - 22,892 Agency MBS - residential (2) 65 4 - 69 GSEs (3) 14,706 36 (86) 14,656 States and political subdivisions 238,514 3,253 (2,386) 239,381 Foreign government obligations 34,863 136 (299) 34,700 Redeemable preferred stocks 4,036 163 - 4,199 Total fixed maturities $ 585,160 $ 4,849 $ (6,129) $ 583,880 EQUITY SECURITIES AVAILABLE-FOR-SALE: Common stocks $ 8,452 $ 1,452 $ (147) $ 9,757 Nonredeemable preferred stocks 4,004 134 - 4,138 Total equity securities $ 12,456 $ 1,586 $ (147) $ 13,895 (1) Collateralized mortgage obligations (“CMOs”). (2) Mortgage-backed securities (“MBS”). (3) Government-sponsored enterprises (“GSEs”) are private enterprises established and chartered by the Federal Government or its various insurance and lease programs which carry the full faith and credit obligation of the U.S. Government. The amortized cost and fair value of fixed maturities available-for-sale at September 30, 2015, by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or repayment penalties. CMOs and MBSs are shown separately, as they are not due at a single maturity. AMORTIZED FAIR COST VALUE Due in one year or less $ 3,796 $ 3,819 Due after one year through five years 86,666 86,501 Due after five years through ten years 119,483 119,799 Due after ten years 212,745 210,618 CMOs and MBSs 15,083 15,192 $ 437,773 $ 435,929 The following tables summarize, for all available-for-sale securities in an unrealized loss position, the aggregate fair value and gross unrealized loss by length of time those securities that have continuously been in an unrealized loss position for the periods indicated (in thousands): September 30, 2015 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 96,293 $ 2,898 $ 33,355 $ 1,677 $ 129,648 $ 4,575 GSEs 5,604 125 5,035 118 10,639 243 States and political subdivisions 36,049 637 32,903 915 68,952 1,552 Redeemable preferred stocks 3,722 41 - - 3,722 41 Total fixed maturities 141,668 3,701 71,293 2,710 212,961 6,411 Common stocks 4,069 355 - - 4,069 355 Total equity securities 4,069 355 - - 4,069 355 Total temporarily impaired securities $ 145,737 $ 4,056 $ 71,293 $ 2,710 $ 217,030 $ 6,766 Number of securities in an unrealized loss position 62 21 83 December 31, 2014 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 77,868 $ 1,473 $ 69,498 $ 1,841 $ 147,366 $ 3,314 CMO’s - residential 2,062 16 1,562 6 3,624 22 CMOs - commercial - - 953 22 953 22 GSEs - - 9,581 86 9,581 86 States and political subdivisions 58,819 744 67,318 1,642 126,137 2,386 Foreign government obligations 21,148 171 12,229 128 33,377 299 Total fixed maturities 159,897 2,404 161,141 3,725 321,038 6,129 Common stocks 2,007 136 348 11 2,355 147 Total equity securities 2,007 136 348 11 2,355 147 Total temporarily impaired securities $ 161,904 $ 2,540 $ 161,489 $ 3,736 $ 323,393 $ 6,276 Number of securities in an unrealized loss position 70 46 116 Substantially all of the unrealized losses on fixed maturities available-for-sale at September 30, 2015 and December 31, 2014 relate to investment grade securities and are attributable to changes in market interest rates. Because the Company does not intend to sell, nor is it more likely than not that the Company will have to sell such investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2015. Net realized investment gains (losses) are as follows for periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Available-for-sale securities: Fixed maturities $ 122 $ 1,536 $ 3,536 $ 7,027 Common stocks - - 1,465 - Preferred stocks - - - (5) Total available-for-sale securities 122 1,536 5,001 7,022 Trading securities (703) 321 (1,124) 351 Total realized gains (losses) (581) 1,857 3,877 7,373 Unrealized gains (losses) on trading securities: Change in unrealized gains (losses) on trading securities (530) (1,010) (882) (458) Total unrealized gains (losses) on trading securities (530) (1,010) (882) (458) Gain (losses) on other investments 2 (3) (4) (1) Net realized investment gains (losses) $ (1,109) $ 844 $ 2,991 $ 6,914 For the three months and nine months ended September 30, 2015, proceeds from sales of available-for-sale securities were $226,350,000 and $612,363,000, respectively, and the Company realized gross gains of $301,000 and $6,074,000, respectively, and gross losses of $148,000 and $790,000, respectively, as a result of those sales. For the three months and nine months ended September 30, 2014, proceeds from sales of available-for-sale securities were $71,845,000 and $297,372,000, respectively, and the Company realized gross gains of $1,794,000 and $8,398,000, respectively, and gross losses of $153,000 and $694,000, respectively, as a result of those sales. Other-Than-Temporary Impairment Evaluations We recognize other-than-temporary impairment losses in earnings in the period that we determine: 1) we intend to sell the security; 2) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis; or 3) the security has a credit loss. Any non-credit portion of the other-than-temporary impairment loss is recognized in other comprehensive income (loss). See Note 1G(iv) to the Consolidated Financial Statements in the 2014 Annual Report for further discussion of the factors considered by management in its regular review to identify and recognize other-than-temporary impairments on available-for-sale securities. The Company recognized $228,000 of other-than-temporary impairment losses in earnings on equity securities available-for-sale during the three months and nine months ended September 30, 2015 due to the length of time and extent an equity security was below cost. The Company did not recognize any other-than-temporary impairments on available-for-sale securities in 2014. Credit losses were recognized on certain fixed maturities for which each security also had an impairment loss recognized in other comprehensive income (loss). The rollforward of these credit losses were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Balance at beginning of year $ 473 $ 473 $ 473 $ 473 Additional credit losses for which an other-than- temporary loss was previously recognized - - - - Securities sold - - - - Balance at end of period $ 473 $ 473 $ 473 $ 473 The after-tax portion of other-than-temporary impairments included in accumulated other comprehensive income (loss) at both September 30, 2015 and December 31, 2014 consists of $335,000 related to CMO securities.

Note 4. Cash Flow Hedge

Note 4. Cash Flow Hedge	9 Months Ended
	Sep. 30, 2015
Notes
Note 4. Cash Flow Hedge	Note 4. Cash Flow Hedge In connection with its outstanding amortizing term loan, a subsidiary of IHC entered into an interest rate swap on July 1, 2011 with the commercial bank lender, for a notional amount equal to the debt principal amount ( $2,000,000 and $4,000,000 at September 30, 2015 and December 31, 2014, respectively), under which the Company receives a variable rate equal to the rate on the debt and pays a fixed rate ( 1.60% ) in order to manage the risk in overall changes in cash flows attributable to forecasted interest payments. As a result of the interest rate swap, interest payments on this debt are fixed at 4.95% . There was no hedge ineffectiveness on this interest rate swap which was accounted for as a cash flow hedge. At September 30, 2015 and December 31, 2014, the fair value of interest rate swap was $21,000 and $83,000 , respectively, which is included in other liabilities on the accompanying Condensed Consolidated Balance Sheets. See Note 5 for further discussion on the valuation techniques utilized to determine the fair value of the interest rate swap.

Note 5. Fair Value Disclosures

Note 5. Fair Value Disclosures	9 Months Ended
	Sep. 30, 2015
Notes
Note 5. Fair Value Disclosures	Note 5. Fair Value Disclosures For all financial and non-financial assets and liabilities accounted for at fair value on a recurring basis, the Company utilizes valuation techniques based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market expectations. These two types of inputs create the following fair value hierarchy: Level 1 Level 2 Level 3 The following section describes the valuation methodologies we use to measure different assets at fair value. Investments in fixed maturities and equity securities: Available-for-sale securities included in Level 1 are equities with quoted market prices. Level 2 is primarily comprised of our portfolio of government securities, agency mortgage-backed securities, corporate fixed income securities, foreign government obligations, collateralized mortgage obligations, municipals and GSEs that were priced with observable market inputs. Level 3 securities consist primarily of CMO securities backed by commercial mortgages and municipal tax credit strips. For these securities, we use industry-standard pricing methodologies, including discounted cash flow models, whose inputs are based on management’s assumptions and available market information. Significant unobservable inputs used in the fair value measurement of CMO’s are prepayment rates, probability of default, and loss severity in the event of default. Significant increases (decreases) in any of those inputs in isolation would result in a significantly lower (higher) fair value measurement. Generally, a change in the assumption used for the probability of default is accompanied by a directionally similar change in the assumption used for loss severity and a directionally opposite change in the assumption used for prepayment rates. Further we retain independent pricing vendors to assist in valuing certain instruments. Trading securities: Trading securities included in Level 1 are equity securities with quoted market prices. Interest rate swap: The financial liability included in Level 2 consists of an interest rate swap on IHC debt. It is valued using market observable inputs including market price, interest rate, and volatility within a Black Scholes model. Contingent liabilities: Contingent liabilities classified in Level 3 include; (i) a contingent liability assumed in connection with an acquisition (see Note 6) related to an earn-out agreement whereby significant unobservable inputs are based on projected income; and (ii) a contingent liability recognized in connection with the deconsolidation of a former subsidiary and a newly formed joint venture transaction (see Note 6) whereby significant unobservable inputs are based on projected cash flows. The following tables present our financial assets and liabilities measured at fair value on a recurring basis for the periods indicated (in thousands): September 30, 2015 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 166,247 $ - $ 166,247 CMOs - residential - 3,210 - 3,210 CMOs - commercial - - 1,278 1,278 US Government obligations - 36,603 - 36,603 Agency MBS - residential - 37 - 37 GSEs - 11,683 - 11,683 States and political subdivisions - 208,676 2,215 210,891 Foreign government obligations - 1,887 - 1,887 Redeemable preferred stocks 4,093 - - 4,093 Total fixed maturities 4,093 428,343 3,493 435,929 Equity securities available-for-sale: Common stocks 4,572 - - 4,572 Nonredeemable preferred stocks 4,176 - - 4,176 Total equity securities 8,748 - - 8,748 Trading securities - equities 8,993 - - 8,993 Total trading securities 8,993 - - 8,993 Total Financial Assets $ 21,834 $ 428,343 $ 3,493 $ 453,670 FINANCIAL LIABILITIES: Interest rate swap $ - $ 21 $ - $ 21 Contingent liabilities - - 2,179 2,179 Total Financial Liabilities - 21 2,179 2,200 December 31, 2014 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 261,924 $ - $ 261,924 CMOs – residential - 5,106 - 5,106 CMOs – commercial - - 953 953 US Government obligations - 22,892 - 22,892 Agency MBS - residential - 69 - 69 GSEs - 14,656 - 14,656 States and political subdivisions - 237,067 2,314 239,381 Foreign government - 34,700 - 34,700 Redeemable preferred stocks 4,199 - - 4,199 Total fixed maturities 4,199 576,414 3,267 583,880 Equity securities available-for-sale: Common stocks 9,757 - - 9,757 Nonredeemable preferred stocks 4,138 - - 4,138 Total equity securities 13,895 - - 13,895 Trading securities - equities 11,095 - - 11,095 Total trading securities 11,095 - - 11,095 Total Financial Assets $ 29,189 $ 576,414 $ 3,267 $ 608,870 FINANCIAL LIABILITIES: Interest rate swap $ - $ 83 $ - $ 83 It is the Company’s policy to recognize transfers of assets and liabilities between levels of the fair value hierarchy at the end of a reporting period. The Company does not transfer out of Level 3 and into Level 2 until such time as observable inputs become available and reliable or the range of available independent prices narrow. The Company did not transfer any securities between Level 1, Level 2 or Level 3 in either 2015 or 2014. The following table presents the changes in fair value of our Level 3 financial instruments for the periods indicated (in thousands): Three Months Ended September 30, 2015 Financial Assets: Financial Liabilities: States and Total Total CMOs- Political Level 3 Contingent Level 3 Commercial Subdivisions Assets Liabilities Liabilities Beginning balance $ 1,233 $ 2,248 $ 3,481 $ 1,000 $ 1,000 Gains (losses) included in earnings: Gain on sale of subsidiary to joint venture - - - 1,281 1,281 Net investment income - - - (102) (102) Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) 45 (11) 34 - - Repayments and amortization of of fixed maturities - (22) (22) - - Balance at end of period $ 1,278 $ 2,215 $ 3,493 $ 2,179 $ 2,179 Three Months Ended September 30, 2014 Financial Assets: States and Total CMOs Political Level 3 Commercial Subdivisions Assets Beginning balance $ 906 $ 2,379 $ 3,285 Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) 18 (14) 4 Repayments and amortization of fixed maturities - (18) (18) Balance at end of period $ 924 $ 2,347 $ 3,271 Nine Months Ended September 30, 2015 Financial Assets: Financial Liabilities States and Total Total CMOs Political Level 3 Contingent Level 3 Commercial Subdivisions Assets Liabilities Liabilities Beginning Balance $ 953 $ 2,314 $ 3,267 $ - $ - Assumed in acquisition - - - 1,000 1,000 Gains (losses) included in earnings: Gain on sale of subsidiary to joint venture - - - 1,281 1,281 Net investment income - - - (102) (102) Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) 325 (36) 289 - - Repayments and amortization of fixed maturities - (63) (63) - - Balance at end of period $ 1,278 $ 2,215 $ 3,493 $ 2,179 $ 2,179 Nine Months Ended September 30, 2014 Financial Assets: States and Total CMOs Political Level 3 Commercial Subdivisions Assets Beginning balance $ 593 $ 2,441 $ 3,034 Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) 331 (45) 286 Repayments and amortization of fixed maturities - (49) (49) Balance at end of period $ 924 $ 2,347 $ 3,271 The following table provides carrying values, fair values and classification in the fair value hierarchy of the Company’s financial instruments, for the periods indicated, that are not carried at fair value but are subject to fair value disclosure requirements, for the periods indicated (in thousands): September 30, 2015 December 31, 2014 Level 2 Level 2 Fair Carrying Fair Carrying Value Value Value Value FINANCIAL ASSETS: Policy loans $ 44 $ 38 $ 13,356 $ 10,667 FINANCIAL LIABILITIES: Funds on deposit $ 172,352 $ 172,087 $ 187,213 $ 186,782 Debt and junior subordinated debt securities $ 43,244 $ 43,335 $ 42,146 $ 42,146 The following methods and assumptions were used to estimate the fair value of the financial instruments that are not carried at fair value in the Condensed Consolidated Financial Statements: (A) Policy Loans The fair value of policy loans included in Level 2 of the fair value hierarchy is estimated by projecting aggregate loan cash flows to the end of the expected lifetime period of the life insurance business at the average policy loan rates, and discounting them at a current market interest rate. (B) Funds on Deposit (C) Debt The fair value of debt with fixed and variable interest rates approximates its carrying amount and is included in Level 2 of the fair value hierarchy.

Note 6. Acquisition and Deconso

Note 6. Acquisition and Deconsolidation of Subsidiaries	9 Months Ended
	Sep. 30, 2015
Notes
Note 6. Acquisition and Deconsolidation of Subsidiaries	Note 6. Acquisition and Deconsolidation of Subsidiaries Acquisition On April 30, 2015 (the "Acquisition Date"), through a settlement with a former owner, AMIC increased its ownership in Global Accident Facilities, LLC (“GAF) from 40% to 80%, in order to obtain control of the business it produces for Independence American. GAF and its subsidiaries are principally engaged in the marketing, underwriting and administration of specialty risk insurance, referred to as Occupational Accident and Injury on Duty for Independence American, which are offered exclusively in Texas and Massachusetts, respectively. The consideration transferred in exchange for the additional 40% voting interest consisted of: (i) $325,000 in cash; and (ii) non-monetary consideration, primarily consisting of the settlement of a pre-existing relationship with a former owner, with a fair value of $1,195,000 at the Acquisition Date. The fair value of the settlement of the pre-exiting relationship was based on projected future underwriting results discounted for collectability. The acquisition resulted in AMIC obtaining control of GAF. Immediately preceding the transaction, AMIC’s carrying value of its investment in GAF was $1,908,000. As a result of AMIC obtaining control, the Company has included GAF’s consolidated assets and liabilities and results of operations, subsequent to the Acquisition Date, in its condensed consolidated financial results as of and for the periods ended September 30, 2015. Accordingly, the individual line items on the Condensed Consolidated Statements of Income for 2015 reflect approximately five months of the operations of GAF with no corresponding amounts for 2014. On the Acquisition Date, the Company recognized a net pre-tax gain of $503,000 as follows: (i) a loss of $692,000 was recognized by AMIC as a result of re-measuring its equity interest in GAF to its fair value of $1,216,000 immediately before the acquisition; and (ii) a gain of $1,195,000 was recognized by AMIC as a result of settling the pre-existing relationship with the former owner. The net pre-tax gain of $503,000 is included in the “Other income” line in the Condensed Consolidated Statements of Income. Upon the acquisition of a controlling interest, the Company consolidated the assets and liabilities of GAF. Accordingly, the Company determined the fair value of the identifiable assets acquired and liabilities assumed from GAF on the Acquisition Date. The following table presents the identifiable assets acquired and liabilities assumed in the acquisition of GAF on the Acquisition Date based on their respective fair values (in thousands): Cash $ 836 Intangible assets 5,500 Other assets 1,249 Total identifiable assets 7,585 Other liabilities 4,849 Deferred tax liability 2,200 Debt 3,326 Total liabilities 10,375 Net identifiable liabilities assumed $ 2,790 Included in other liabilities assumed is a $1,000,000 contingent liability recorded in connection with an earn-out agreement with a former owner of a subsidiary of GAF. In accordance with this agreement, payments are required in 2016 and 2019 based on certain earnings targets. The fair value of the contingent liability is estimated based on projected income. In connection with the acquisition, the Company recorded $6,134,000 of goodwill and $5,500,000 of intangible assets (see Note 7). Goodwill reflects the synergies between GAF and Independence American as GAF is the primary writer of Occupational Accident and Injury on Duty business for Independence American. Goodwill was calculated as the excess of the sum of: (i) the acquisition date fair value of total consideration transferred of $1,520,000; (ii) the acquisition date fair value of the equity interest in GAF immediately preceding the acquisition of $1,216,000; and (iii) the fair value of the noncontrolling interest in GAF of $608,000 on the acquisition date; over (iv) the net liabilities of $2,790,000 that were assumed. The enterprise value of GAF was determined by an independent appraisal using a discounted cash flow model based upon the projected future earnings of GAF including a control premium. The fair value of the non-controlling interest was determined based upon their percentage of the GAF enterprise value discounted for a lack of control. The fair value of the acquired identifiable intangible assets and deferred taxes are provisional pending receipt of the final valuations for those assets and liabilities. The Company expects to finalize the preliminary estimates of the fair value of the intangible assets and deferred taxes by the end of this year. For the three months ended September 30, 2015, the Company’s Condensed Consolidated Statement of Income includes revenues and net income of $2,480,000 and $59,000, respectively, from GAF; and for the period from the Acquisition Date to September 30, 2015, the Company’s Condensed Consolidated Statement of Income includes revenues and net income of $4,220,000 and $359,000, respectively, from GAF. Deconsolidation Effective September 1, 2015, IHC and Ebix, a non-related party and international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, finalized a joint venture in which IHC sold its wholly owned administrative subsidiary, IHC Health Solutions (now known as Ebix Health Administration Exchange, Inc.), in exchange for a 60% ownership interest in Ebix Health Exchange and $6,000,000 in cash proceeds. Ebix has the option to increase its ownership position to 50% over the next three years. IHC and Ebix have equal voting interest on the Board of Managers of Ebix Health Exchange. The transaction resulted in a loss of control over the subsidiary (due to a lack of the majority of the voting interest on the Board of Managers) and therefore the subsidiary was deconsolidated from the Company’s financial statements. The Company recognized a gain of $10,161,000, pre-tax, on the transaction consisting of: (i) a pre-tax gain on the deconsolidation of $11,441,000, measured as the fair value of the consideration received and the fair value of the retained investment in Ebix Health Exchange less the carrying amount of the former subsidiary’s net assets; partially offset by (ii) a contingent liability of $1,280,000 representing the Company’s estimated obligation to fund future cash operating losses through December 31, 2016 per the terms of the joint venture agreement. The fair value of the contingent liability was estimated based on expected future operating cash shortfalls. Approximately $5,441,000 of the pre-tax gain is attributable to the re-measurement of the retained investment in the former subsidiary to its current value. The fair value of the retained investment was determined by an independent appraisal using a discounted cash flow model based upon the projected future earnings. The fair value of the retained investment is provisional pending receipt of the final valuations. The Company expects to finalize the preliminary estimates by the end of this year. Ebix Health Exchange will administer various lines of health insurance for IHC’s insurance subsidiaries. The carrying value of the Company’s equity investment in Ebix Health Exchange amounted to $10,707,000 at September 30, 2015 and, for the quarter ended September 30, 2015 the Company recorded an equity loss of $36,000 on its investment. At September 30, 2015, the Company’s Condensed Consolidated Balance Sheet includes $1,210,000 of notes and other amounts receivable from, and $450,000 of administrative fees and other expenses payable to, Ebix Health Exchange which are included in other assets and accounts payable, accruals and other liabilities, respectively. The Company’s Condensed Consolidated Statements of Income include $25,000 in fee income from, and $362,000 of administrative fee expenses to, Ebix Health Exchange which are included in fee income and selling, general and administrative expenses, respectively, for the three months and nine months ended September 30, 2015.

Note 7. Goodwill and Other Inta

Note 7. Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Notes
Note 7. Goodwill and Other Intangible Assets	Note 7. Goodwill and Other Intangible Assets The carrying amount of goodwill was $53,371,000 and $50,318,000 at September 30, 2015 and December 31, 2014, respectively. The Company has net other intangible assets of $16,083,000 and $12,135,000 at September 30, 2015 and December 31, 2014, respectively, which are included in other assets in the Condensed Consolidated Balance Sheets. These intangible assets consist of: (i) finite-lived intangible assets, principally the fair value of acquired agent and broker relationships, which are subject to amortization; and (ii) indefinite-lived intangible assets which consist of the estimated fair value of insurance licenses that are not subject to amortization. The gross carrying amounts of these other intangible assets are as follows for the periods indicated (in thousands): September 30, 2015 December 31, 2014 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Finite-lived Intangible Assets: Agent and broker relationships $ 23,706 $ 16,548 $ 22,725 $ 18,567 Trademarks 1,000 52 - - Total finite-lived $ 24,706 $ 16,600 $ 22,725 $ 18,567 September 30, December 31, 2015 2014 Indefinite-lived Intangible Assets: Insurance licenses $ 7,977 $ 7,977 Total indefinite-lived $ 7,977 $ 7,977 In connection with the acquisition of a controlling interest in GAF during the second quarter of 2015 discussed in Note 6, the Company recorded $6,134,000 of goodwill and $5,500,000 of intangible assets associated with the Fully Insured Health segment. None of the goodwill is deductible for income tax purposes. Of the $5,500,000 of intangible assets recorded, $1,000,000 represents the fair value of trademarks, which is being amortized over a period of 8 years, and $4,500,000 represents the fair value of customer relationships being amortized over a period of 9 years. As a result of the deconsolidation of a subsidiary during the third quarter of 2015 discussed in Note 6, goodwill and net intangible assets associated with the Fully Insured Health segment decreased by $3,081,000 and $81,000 , respectively. Amortization expense was $542,000 and $1,471,000 for the three months and nine months ended September 30, 2015, respectively, and was $653,000 and $2,011,000 for the three months and nine months ended September 30, 2014.

Note 8. Reinsurance

Note 8. Reinsurance	9 Months Ended
	Sep. 30, 2015
Notes
Note 8. Reinsurance	Note 8. Reinsurance On July 31, 2015, Madison National Life and Standard Security Life together entered into a coinsurance and sale agreement with an unaffiliated reinsurer, National Guardian Life Insurance Company (“NGL”), to: (i) cede substantially all of their individual life and annuity policy blocks currently in run-off; and (ii) sell the related infrastructure associated with the administration of such policies. The Company transferred $207,964,000 of cash to NGL, net of the aggregate consideration of $42,000,000 for the coinsurance and sale transaction. As a result of this transaction, the Company: (i) recorded $234,740,000 of estimated amounts due from reinsurers; (ii) recorded a $31,192,000 decrease in deferred acquisition costs associated with the ceded policies; (iii) recorded a $9,866,000 decrease in policy loans; (iv) recorded $7,686,000 of estimated costs of reinsurance (included in other assets) which will be amortized over the life of the underlying reinsured contracts; and (v) recognized a $5,053,000 pre-tax gain (included in other income) on the sale of the assets associated with the administration of the ceded policies, net of disposal costs. The ceding of reinsurance does not discharge the primary liability of the original insurer to the insured. However, as a result of this transaction, it is anticipated that approximately $76,000,000 of the aforementioned life and annuity reserves will be assigned and transferred to the reinsurer, pending regulatory approval, by the end of 2015, contractually relieving the Company of the liability with regards to those policies.

Note 9. Debt

Note 9. Debt	9 Months Ended
	Sep. 30, 2015
Notes
Note 9. Debt	Note 9. Debt In connection with the acquisition of a controlling interest in GAF discussed in Note 6, the Company assumed $3,326,000 of GAF’s debt. This debt is comprised of: (i) various term loans with former owners of a subsidiary of GAF, aggregating $3,026,000, with various maturities through

Note 10. Income Taxes

Note 10. Income Taxes	9 Months Ended
	Sep. 30, 2015
Notes
Note 10. Income Taxes	Note 10. Income Taxes The provisions for income taxes shown in the Condensed Consolidated Statements of Income were computed based on the Company's actual results, which approximate the effective tax rate expected to be applicable for the balance of the current fiscal year in accordance with consolidated life/non-life group income tax regulations. Such regulations adopt a subgroup method in determining consolidated taxable income, whereby taxable income is determined separately for the life insurance company group and the non-life insurance company group. In connection with the acquisition of GAF discussed in Note 6, the Company assumed $2,200,000 of deferred tax liabilities. At September 30, 2015, AMIC had net operating loss carryforwards of approximately $259,257,000 for federal income tax purposes, which expire in varying amounts through the year 2028, with a significant portion expiring in 2020. The net deferred tax asset relative to AMIC included in other assets on IHC’s Condensed Consolidated Balance Sheets was $7,115,000 and $11,517,000 at September 30, 2015 and December 31, 2014, respectively.

Note11. Accumulated Other Compr

Note11. Accumulated Other Comprehensive Income (loss)	9 Months Ended
	Sep. 30, 2015
Notes
Note11. Accumulated Other Comprehensive Income (loss)	Note11. Accumulated Other Comprehensive Income (Loss) The components of other comprehensive income (loss) include (i) the after-tax net unrealized gains and losses on investment securities available-for-sale, including the subsequent increases and decreases in fair value of available-for-sale securities previously impaired and the non-credit related component of other-than-temporary impairments of fixed maturities and (ii) the after-tax unrealized gains and losses on a cash flow hedge. Changes in the balances for each component of accumulated other comprehensive income, shown net of taxes, for the periods indicated were as follows (in thousands): Three Months Ended September 30, 2015 Unrealized Gains (Losses) on Available-for Sale Cash Flow Securities Hedge Total Beginning balance $ (3,184) $ (33) $ (3,217) Other comprehensive income (loss) before reclassifications 1,834 20 1,854 Amounts reclassified from accumulated OCI 68 - 68 Net other comprehensive income (loss) 1,902 20 1,922 Less: Other comprehensive income attributable to noncontrolling interests (51) - (51) Ending balance $ (1,333) $ (13) $ (1,346) Three Months Ended September 30, 2014 Unrealized Gains (Losses) on Available-for Sale Cash Flow Securities Hedge Total Beginning balance $ (1,420) $ (99) $ (1,519) Other comprehensive income (loss) before reclassifications (587) 41 (546) Amounts reclassified from accumulated OCI (1,211) - (1,211) Net other comprehensive income (loss) (1,798) 41 (1,757) Less: Other comprehensive income attributable to noncontrolling interests 81 - 81 Ending balance $ (3,137) $ (58) $ (3,195) Nine Months Ended September 30, 2015 Unrealized Gains (Losses) on Available-for Sale Cash Flow Securities Hedge Total Beginning balance $ 72 $ (50) $ 22 Other comprehensive income (loss) before reclassifications 1,728 37 1,765 Amounts reclassified from accumulated OCI (3,077) - (3,077) Net other comprehensive income (loss) (1,349) 37 (1,312) Less: Other comprehensive income attributable to noncontrolling interests (61) - (61) Acquired from noncontrolling interests 5 - 5 Ending balance $ (1,333) $ (13) $ (1,346) Nine Months Ended September 30, 2014 Unrealized Gains (Losses) on Available-for Sale Cash Flow Securities Hedge Total Beginning balance $ (10,350) $ (122) $ (10,472) Other comprehensive income (loss) before reclassifications 12,177 64 12,241 Amounts reclassified from accumulated OCI (4,832) - (4,832) Net other comprehensive income (loss) 7,345 64 7,409 Less: Other comprehensive income attributable to noncontrolling interests (132) - (132) Ending balance $ (3,137) $ (58) $ (3,195) Presented below are the amounts reclassified out of accumulated other comprehensive income (loss) and recognized in earnings for each of the periods indicated (in thousands): Three Months Ended Nine months Ended September 30, September 30, 2015 2014 2015 2014 Unrealized gains (losses) on available-for-sale securities reclassified during the period to the following income statement line items: Net realized investment gains (losses) $ 122 $ 1,535 $ 5,001 $ 7,022 Net impairment losses recognized in earnings (228) - (228) - Income (loss) before income tax (106) 1,535 4,773 7,022 Tax effect (38) 324 1,696 2,190 Net income (loss) $ (68) $ 1,211 $ 3,077 $ 4,832

Note 12. Share-based Compensati

Note 12. Share-based Compensation	9 Months Ended
	Sep. 30, 2015
Notes
Note 12. Share-based Compensation	Note 12. Share-Based Compensation IHC and AMIC each have share-based compensation plans. The following is a summary of the activity pertaining to each of these plans. A) IHC Share-Based Compensation Plans Under the terms of IHC’s stock-based compensation plans, option exercise prices are more than or equal to the quoted market price of the shares at the date of grant; option terms are generally five years; and vesting periods are generally three years. The fair value of an option award is estimated on the date of grant using the Black-Scholes option valuation model. In addition to stock options, the Company has also granted restricted stock units, share appreciation rights (“SARs”) and share-based performance awards under the plans. Restricted share units are valued at the quoted market price of the shares at the date of grant and have a three year vesting period. Compensation costs for options and restricted share units are recognized over the stated vesting periods on a straight-line basis. Exercise prices of SARs are more than or equal to the quoted market price of IHC shares at the date of the grant and have three year vesting periods. The fair value of SARs is calculated using the Black-Scholes valuation model at the grant date and each subsequent reporting period until settlement. Compensation cost is based on the proportionate amount of the requisite service that has been rendered to date. Once fully vested, changes in fair value of the SARs continue to be recognized as compensation expense in the period of the change until settlement. At , there were 369,861 shares available for future stock-based compensation grants under IHC’s stock incentive plans. The following table summarizes share-based compensation expense, which is included in selling, general and administrative expenses on the Condensed Consolidated Statements of Income, applicable to the IHC plans, by award type for each of the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 IHC’s Share-based Compensation Plan: Stock options $ - $ 66 $ 55 $ 603 Restricted stock units 23 22 67 64 SARs (23) (190) (80) (113) Share-based compensation expense, pre-tax - (102) 42 554 Tax benefits - (41) 17 221 Share-based compensation expense, net $ - $ (61) $ 25 $ 333 Stock Options The IHC’s stock option activity during 2015 was as follows: Shares Weighted- Average Under Option Exercise Price December 31, 2014 614,680 $ 9.33 Exercised (17,100) 9.09 September 30, 2015 597,580 $ 9.34 In 2015, IHC received $155,000 in cash from the exercise of stock options with an aggregate intrinsic value of $72,000 and realized $11,000 of tax benefits. The following table summarizes information regarding IHC’s outstanding and exercisable options: September 30, 2015 Outstanding Exercisable Number of options 597,580 597,580 Weighted average exercise price per share $ 9.34 $ 9.34 Aggregate intrinsic value for all options (in thousands) $ 2,164 $ 2,164 Weighted average contractual term remaining 1.6 years 1.6 years At , all of IHC’s outstanding stock options are fully vested and all of the related compensation costs have been recognized. Restricted Stock The following table summarizes restricted stock activity for the nine months ended September 30, 2015: No. of Weighted-Average Non-vested Grant-Date Shares Fair Value December 31, 2014 14,850 $ 12.09 Granted 7,425 11.78 Vested (7,425) 11.44 September 30, 2015 14,850 $ 12.26 IHC granted 7,425 shares of restricted stock awards during each of the nine months ended September 30, 2015 and 2014 with weighted average grant-date fair values of $11.78 and $13.27, respectively, per share. The total fair value of restricted stock that vested during each of the first nine months of 2015 and 2014 was $89,000 and $103,000, respectively. As of , the total unrecognized compensation expense related to non-vested restricted stock unit awards was $152,000 which is expected to be recognized over the remaining requisite weighted-average service period of 2.0 years. SARs IHC had 129,150 and 136,850 of SAR awards outstanding at September 30, 2015 and December 31, 2014, respectively. In 2015, 7,700 SARs were exercised with an aggregate intrinsic value of $38,000. Included in Other Liabilities in the Company’s Condensed Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 are liabilities of $673,000 and $791,000, respectively, pertaining to SARs. B) AMIC Share-Based Compensation Plans Under the terms of the AMIC’s stock-based compensation plan, option exercise prices are equal to the quoted market price of the shares at the date of grant; option terms are ten years; and vesting periods range from three to four years. The Company may also grant shares of restricted stock, stock appreciation rights and share-based performance awards. The following table summarizes share-based compensation expense, which is included in selling, general and administrative expenses on the Condensed Consolidated Statements of Income, applicable to the AMIC share-based compensation plans, by award type for each of the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 AMIC’s Share-based Compensation Plans: Stock options $ 11 $ 13 $ 32 $ 40 Share-based compensation expense, pre-tax 11 13 32 40 Tax benefits 4 4 11 14 Share-based compensation expense, net $ 7 $ 9 $ 21 $ 26 Stock Options AMIC’s stock option activity for the nine months ended is as follows: Shares Weighted- Average Under Option Exercise Price December 31, 2014 166,616 $ 10.50 Exercised (8,890) 5.81 Forfeited (26,001) 8.90 Expired (60,167) 13.82 September 30, 2015 71,558 $ 8.88 The following table summarizes information regarding AMIC’s outstanding and exercisable options as of September 30, 2015: September 30, 2015 Outstanding Exercisable Number of options 71,558 58,224 Weighted average exercise price per share $ 8.88 $ 8.73 Aggregate intrinsic value for all options (in thousands) $ 109 $ 96 Weighted average contractual term remaining 4.44 years 3.55 years The fair value of an option award is estimated on the date of grant using the Black-Scholes option valuation model. No options were granted in 2015. The weighted average grant-date fair-value of options granted during the nine months ended September 30, 2014 was $5.70 per share. The assumptions set forth in the table below were used to value the stock options granted for the nine months ended September 30, 2014: September 30, 2014 Weighted-average risk-free interest rate 2.72% Annual dividend rate per share $ - Weighted-average volatility factor of the Company's common stock 38.27% Weighted-average expected term of options 5 years As of September 30, 2015, the total unrecognized compensation expense related to AMIC’s non-vested options was $51,000 which will be recognized over the remaining requisite service periods.

Note 13. Supplemental Disclosur

Note 13. Supplemental Disclosures of Cash Flow Information	9 Months Ended
	Sep. 30, 2015
Notes
Note 13. Supplemental Disclosures of Cash Flow Information	Note 13. Supplemental Disclosures of Cash Flow Information Net cash payments (receipts) for income taxes were $2,800,000 and $(2,598,000) during the nine months ended September 30, 2015 and 2014. Cash payments for interest were $1,318,000 and $1,366,000 during the nine months ended September 30, 2015 and 2014, respectively.

Note 14. Segment Reporting

Note 14. Segment Reporting	9 Months Ended
	Sep. 30, 2015
Notes
Note 14. Segment Reporting	Note 14. Segment Reporting The Insurance Group principally engages in the life and health insurance business. Information by business segment is presented below for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30 2015 2014 2015 2014 Revenues: Medical Stop-Loss $ 53,965 $ 45,734 $ 162,205 $ 138,821 Fully Insured Health 45,193 57,412 141,356 184,839 Group disability, life, annuities and DBL 24,404 16,948 65,879 50,091 Individual life, annuities and other 7,987 8,764 25,287 26,049 Corporate 45 50 137 129 131,594 128,908 394,864 399,929 Gain on sale of subsidiary to joint venture 10,161 - 10,161 - Net realized investment gains (losses) (1,109) 844 2,991 6,914 Net impairment losses recognized in earnings (228) - (228) - Total revenues $ 140,418 $ 129,752 $ 407,788 $ 406,843 Income before income taxes: Medical Stop-Loss $ 6,523 $ 6,339 $ 16,430 $ 15,730 Fully Insured Health (A) 2,399 370 5,231 2,325 Group disability, life, annuities and DBL 4,400 4,057 10,774 7,237 Individual life, annuities and other (B) 3,623 (1,683) 1,238 (4,903) Corporate (2,111) (1,423) (5,308) (5,833) 14,834 7,660 28,365 14,556 Gain on sale of subsidiary to joint venture 10,161 - 10,161 - Net realized investment gains (losses) (1,109) 844 2,991 6,914 Net impairment losses recognized in earnings (228) - (228) - Interest expense (444) (539) (1,354) (1,357) Income before income taxes $ 23,214 $ 7,965 $ 39,935 $ 20,113 (A) (B)

Note 1. Organization, Consoli23

Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies: Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
Basis of Presentation	The Condensed Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The Condensed Consolidated Financial Statements are unaudited and include the accounts of IHC and its consolidated subsidiaries. Effective September 1, 2015 (“Deconsolidation Date”), pursuant to the terms of a contribution agreement, IHC contributed all of its shares in its subsidiary, IHC Health Solutions, Inc. (“IHC Health Solutions”) to Ebix Health Exchange, a newly formed joint venture with Ebix, Inc. (“Ebix”), and, as a result, IHC deconsolidated IHC Health Solutions (see Note 6). In accordance with U.S. GAAP, the accompanying Condensed Consolidated Financial Statements include the operating results of IHC Health Solutions prior to the Deconsolidation Date. Subsequent to the Deconsolidation Date, the Company’s equity interest in the newly formed joint venture is accounted for under the equity method of accounting. All significant intercompany transactions have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect: (i) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (ii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. IHC’s annual report on Form 10-K as filed with the Securities and Exchange Commission should be read in conjunction with the accompanying Condensed Consolidated Financial Statements.

Note 1. Organization, Consoli24

Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies: New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
New Accounting Pronouncements	Recently Adopted Accounting Standards In April 2014, the FASB issued guidance: (i) improving the definition of discontinued operations by limiting the reporting of discontinued operations to disposals of components that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results; and (ii) requiring expanded disclosures for discontinued operations. The adoption of this guidance did not have any effect on the Company’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In September 2015, the FASB issued guidance to simplify the accounting for adjustments made to provisional amounts recognized in a business combination and eliminate the requirement to retrospectively account for those adjustments. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted for financial statements that have not been issued. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In May 2015, the FASB issued guidance requiring additional disclosures for short-duration contracts regarding the liability for unpaid claims and claim adjustment expenses. For public entities, the guidance is effective for annual reporting periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted. The adoption of this guidance is not expected to have a significant effect on the Company’s consolidated financial statements. In February 2015, In June 2014, the FASB issued explicit guidance for entities that grant their employees share-based payments in which the terms of the award include a performance target that affects vesting and could be achieved after the requisite service period. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Earlier adoption is permitted. The guidance may be applied either prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In May 2014, the FASB issued revenue recognition guidance for entities that either enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards such as insurance contracts or lease contracts. The amendment provides specific steps that an entity should apply in order to achieve its main objective which is recognizing revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the effective date of this guidance has been deferred. For public entities, this guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and requires one of two specified retrospective methods of application. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Management has not yet determined the impact that the adoption of this guidance will have on the Company’s consolidated financial statements.

Note 5. Fair Value Disclosures_

Note 5. Fair Value Disclosures: Fair Value of Financial Instruments, Policy (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
Fair Value of Financial Instruments, Policy	For all financial and non-financial assets and liabilities accounted for at fair value on a recurring basis, the Company utilizes valuation techniques based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market expectations. These two types of inputs create the following fair value hierarchy: Level 1 Level 2 Level 3

Note 5. Fair Value Disclosure26

Note 5. Fair Value Disclosures: Fair Value Transfer, Policy (Policies)	9 Months Ended
	Sep. 30, 2015
Policies
Fair Value Transfer, Policy	It is the Company’s policy to recognize transfers of assets and liabilities between levels of the fair value hierarchy at the end of a reporting period. The Company does not transfer out of Level 3 and into Level 2 until such time as observable inputs become available and reliable or the range of available independent prices narrow.

Note 12. Share-based Compensa27

Note 12. Share-based Compensation: Share-based Compensation, Option and Incentive Plans Policy (Policies)	9 Months Ended
	Sep. 30, 2015
Independence Holding Company Share Based Plans Total Member
Share-based Compensation, Option and Incentive Plans Policy	Under the terms of IHC’s stock-based compensation plans, option exercise prices are more than or equal to the quoted market price of the shares at the date of grant; option terms are generally five years; and vesting periods are generally three years. The fair value of an option award is estimated on the date of grant using the Black-Scholes option valuation model. In addition to stock options, the Company has also granted restricted stock units, share appreciation rights (“SARs”) and share-based performance awards under the plans. Restricted share units are valued at the quoted market price of the shares at the date of grant and have a three year vesting period. Compensation costs for options and restricted share units are recognized over the stated vesting periods on a straight-line basis. Exercise prices of SARs are more than or equal to the quoted market price of IHC shares at the date of the grant and have three year vesting periods. The fair value of SARs is calculated using the Black-Scholes valuation model at the grant date and each subsequent reporting period until settlement. Compensation cost is based on the proportionate amount of the requisite service that has been rendered to date. Once fully vested, changes in fair value of the SARs continue to be recognized as compensation expense in the period of the change until settlement.
American Independence Corp Share Based Plans Total Member
Share-based Compensation, Option and Incentive Plans Policy	Under the terms of the AMIC’s stock-based compensation plan, option exercise prices are equal to the quoted market price of the shares at the date of grant; option terms are ten years; and vesting periods range from three to four years. The Company may also grant shares of restricted stock, stock appreciation rights and share-based performance awards.

Note 1. Organization, Consoli28

Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies: Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Changes in IHC’s paid-in capital: Purchase of AMIC shares $ - $ - $ (199) $ - Purchase remaining IPA Family, LLC interests - - 311 - Net transfers from noncontrolling interests $ - $ - $ 112 $ -

Note 3. Investment Securities_

Note 3. Investment Securities: Schedule of Available-for-sale Securities Reconciliation (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Available-for-sale Securities Reconciliation	September 30, 2015 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 170,411 $ 411 $ (4,575) $ 166,247 CMOs - residential (1) 3,165 45 - 3,210 CMOs - commercial 975 303 - 1,278 U.S. Government obligations 36,269 334 - 36,603 Agency MBS - residential (2) 36 1 - 37 GSEs (3) 11,901 25 (243) 11,683 States and political subdivisions 209,143 3,300 (1,552) 210,891 Foreign government obligations 1,837 50 - 1,887 Redeemable preferred stocks 4,036 98 (41) 4,093 Total fixed maturities $ 437,773 $ 4,567 $ (6,411) $ 435,929 EQUITY SECURITIES AVAILABLE-FOR-SALE: Common stocks $ 4,927 $ - $ (355) $ 4,572 Nonredeemable preferred stocks 4,004 172 - 4,176 Total equity securities $ 8,931 $ 172 $ (355) $ 8,748 December 31, 2014 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 264,162 $ 1,076 $ (3,314) $ 261,924 CMOs - residential (1) 5,073 55 (22) 5,106 CMOs - commercial 975 - (22) 953 U.S. Government obligations 22,766 126 - 22,892 Agency MBS - residential (2) 65 4 - 69 GSEs (3) 14,706 36 (86) 14,656 States and political subdivisions 238,514 3,253 (2,386) 239,381 Foreign government obligations 34,863 136 (299) 34,700 Redeemable preferred stocks 4,036 163 - 4,199 Total fixed maturities $ 585,160 $ 4,849 $ (6,129) $ 583,880 EQUITY SECURITIES AVAILABLE-FOR-SALE: Common stocks $ 8,452 $ 1,452 $ (147) $ 9,757 Nonredeemable preferred stocks 4,004 134 - 4,138 Total equity securities $ 12,456 $ 1,586 $ (147) $ 13,895 (1) Collateralized mortgage obligations (“CMOs”). (2) Mortgage-backed securities (“MBS”). (3) Government-sponsored enterprises (“GSEs”) are private enterprises established and chartered by the Federal Government or its various insurance and lease programs which carry the full faith and credit obligation of the U.S. Government.

Note 3. Investment Securities30

Note 3. Investment Securities: Investments Classified by Contractual Maturity Date (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Investments Classified by Contractual Maturity Date	AMORTIZED FAIR COST VALUE Due in one year or less $ 3,796 $ 3,819 Due after one year through five years 86,666 86,501 Due after five years through ten years 119,483 119,799 Due after ten years 212,745 210,618 CMOs and MBSs 15,083 15,192 $ 437,773 $ 435,929

Note 3. Investment Securities31

Note 3. Investment Securities: Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	September 30, 2015 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 96,293 $ 2,898 $ 33,355 $ 1,677 $ 129,648 $ 4,575 GSEs 5,604 125 5,035 118 10,639 243 States and political subdivisions 36,049 637 32,903 915 68,952 1,552 Redeemable preferred stocks 3,722 41 - - 3,722 41 Total fixed maturities 141,668 3,701 71,293 2,710 212,961 6,411 Common stocks 4,069 355 - - 4,069 355 Total equity securities 4,069 355 - - 4,069 355 Total temporarily impaired securities $ 145,737 $ 4,056 $ 71,293 $ 2,710 $ 217,030 $ 6,766 Number of securities in an unrealized loss position 62 21 83 December 31, 2014 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 77,868 $ 1,473 $ 69,498 $ 1,841 $ 147,366 $ 3,314 CMO’s - residential 2,062 16 1,562 6 3,624 22 CMOs - commercial - - 953 22 953 22 GSEs - - 9,581 86 9,581 86 States and political subdivisions 58,819 744 67,318 1,642 126,137 2,386 Foreign government obligations 21,148 171 12,229 128 33,377 299 Total fixed maturities 159,897 2,404 161,141 3,725 321,038 6,129 Common stocks 2,007 136 348 11 2,355 147 Total equity securities 2,007 136 348 11 2,355 147 Total temporarily impaired securities $ 161,904 $ 2,540 $ 161,489 $ 3,736 $ 323,393 $ 6,276 Number of securities in an unrealized loss position 70 46 116

Note 3. Investment Securities32

Note 3. Investment Securities: Realized Gain (Loss) on Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Realized Gain (Loss) on Investments	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Available-for-sale securities: Fixed maturities $ 122 $ 1,536 $ 3,536 $ 7,027 Common stocks - - 1,465 - Preferred stocks - - - (5) Total available-for-sale securities 122 1,536 5,001 7,022 Trading securities (703) 321 (1,124) 351 Total realized gains (losses) (581) 1,857 3,877 7,373 Unrealized gains (losses) on trading securities: Change in unrealized gains (losses) on trading securities (530) (1,010) (882) (458) Total unrealized gains (losses) on trading securities (530) (1,010) (882) (458) Gain (losses) on other investments 2 (3) (4) (1) Net realized investment gains (losses) $ (1,109) $ 844 $ 2,991 $ 6,914

Note 3. Investment Securities33

Note 3. Investment Securities: Other than Temporary Impairment, Credit Losses Recognized in Earnings (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Other than Temporary Impairment, Credit Losses Recognized in Earnings	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Balance at beginning of year $ 473 $ 473 $ 473 $ 473 Additional credit losses for which an other-than- temporary loss was previously recognized - - - - Securities sold - - - - Balance at end of period $ 473 $ 473 $ 473 $ 473

Note 5. Fair Value Disclosure34

Note 5. Fair Value Disclosures: Fair Value Measurements, Recurring and Nonrecurring (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Fair Value Measurements, Recurring and Nonrecurring	September 30, 2015 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 166,247 $ - $ 166,247 CMOs - residential - 3,210 - 3,210 CMOs - commercial - - 1,278 1,278 US Government obligations - 36,603 - 36,603 Agency MBS - residential - 37 - 37 GSEs - 11,683 - 11,683 States and political subdivisions - 208,676 2,215 210,891 Foreign government obligations - 1,887 - 1,887 Redeemable preferred stocks 4,093 - - 4,093 Total fixed maturities 4,093 428,343 3,493 435,929 Equity securities available-for-sale: Common stocks 4,572 - - 4,572 Nonredeemable preferred stocks 4,176 - - 4,176 Total equity securities 8,748 - - 8,748 Trading securities - equities 8,993 - - 8,993 Total trading securities 8,993 - - 8,993 Total Financial Assets $ 21,834 $ 428,343 $ 3,493 $ 453,670 FINANCIAL LIABILITIES: Interest rate swap $ - $ 21 $ - $ 21 Contingent liabilities - - 2,179 2,179 Total Financial Liabilities - 21 2,179 2,200 December 31, 2014 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 261,924 $ - $ 261,924 CMOs – residential - 5,106 - 5,106 CMOs – commercial - - 953 953 US Government obligations - 22,892 - 22,892 Agency MBS - residential - 69 - 69 GSEs - 14,656 - 14,656 States and political subdivisions - 237,067 2,314 239,381 Foreign government - 34,700 - 34,700 Redeemable preferred stocks 4,199 - - 4,199 Total fixed maturities 4,199 576,414 3,267 583,880 Equity securities available-for-sale: Common stocks 9,757 - - 9,757 Nonredeemable preferred stocks 4,138 - - 4,138 Total equity securities 13,895 - - 13,895 Trading securities - equities 11,095 - - 11,095 Total trading securities 11,095 - - 11,095 Total Financial Assets $ 29,189 $ 576,414 $ 3,267 $ 608,870 FINANCIAL LIABILITIES: Interest rate swap $ - $ 83 $ - $ 83

Note 5. Fair Value Disclosure35

Note 5. Fair Value Disclosures: Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	Three Months Ended September 30, 2015 Financial Assets: Financial Liabilities: States and Total Total CMOs- Political Level 3 Contingent Level 3 Commercial Subdivisions Assets Liabilities Liabilities Beginning balance $ 1,233 $ 2,248 $ 3,481 $ 1,000 $ 1,000 Gains (losses) included in earnings: Gain on sale of subsidiary to joint venture - - - 1,281 1,281 Net investment income - - - (102) (102) Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) 45 (11) 34 - - Repayments and amortization of of fixed maturities - (22) (22) - - Balance at end of period $ 1,278 $ 2,215 $ 3,493 $ 2,179 $ 2,179 Three Months Ended September 30, 2014 Financial Assets: States and Total CMOs Political Level 3 Commercial Subdivisions Assets Beginning balance $ 906 $ 2,379 $ 3,285 Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) 18 (14) 4 Repayments and amortization of fixed maturities - (18) (18) Balance at end of period $ 924 $ 2,347 $ 3,271 Nine Months Ended September 30, 2015 Financial Assets: Financial Liabilities States and Total Total CMOs Political Level 3 Contingent Level 3 Commercial Subdivisions Assets Liabilities Liabilities Beginning Balance $ 953 $ 2,314 $ 3,267 $ - $ - Assumed in acquisition - - - 1,000 1,000 Gains (losses) included in earnings: Gain on sale of subsidiary to joint venture - - - 1,281 1,281 Net investment income - - - (102) (102) Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) 325 (36) 289 - - Repayments and amortization of fixed maturities - (63) (63) - - Balance at end of period $ 1,278 $ 2,215 $ 3,493 $ 2,179 $ 2,179 Nine Months Ended September 30, 2014 Financial Assets: States and Total CMOs Political Level 3 Commercial Subdivisions Assets Beginning balance $ 593 $ 2,441 $ 3,034 Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) 331 (45) 286 Repayments and amortization of fixed maturities - (49) (49) Balance at end of period $ 924 $ 2,347 $ 3,271

Note 5. Fair Value Disclosure36

Note 5. Fair Value Disclosures: Fair Value, by Balance Sheet Grouping (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Fair Value, by Balance Sheet Grouping	September 30, 2015 December 31, 2014 Level 2 Level 2 Fair Carrying Fair Carrying Value Value Value Value FINANCIAL ASSETS: Policy loans $ 44 $ 38 $ 13,356 $ 10,667 FINANCIAL LIABILITIES: Funds on deposit $ 172,352 $ 172,087 $ 187,213 $ 186,782 Debt and junior subordinated debt securities $ 43,244 $ 43,335 $ 42,146 $ 42,146

Note 6. Acquisition and Decon37

Note 6. Acquisition and Deconsolidation of Subsidiaries: Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Cash $ 836 Intangible assets 5,500 Other assets 1,249 Total identifiable assets 7,585 Other liabilities 4,849 Deferred tax liability 2,200 Debt 3,326 Total liabilities 10,375 Net identifiable liabilities assumed $ 2,790

Note 7. Goodwill and Other In38

Note 7. Goodwill and Other Intangible Assets: Schedule of Finite-Lived Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Finite-Lived Intangible Assets	September 30, 2015 December 31, 2014 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Finite-lived Intangible Assets: Agent and broker relationships $ 23,706 $ 16,548 $ 22,725 $ 18,567 Trademarks 1,000 52 - - Total finite-lived $ 24,706 $ 16,600 $ 22,725 $ 18,567

Note 7. Goodwill and Other In39

Note 7. Goodwill and Other Intangible Assets: Schedule of Indefinite-Lived Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Indefinite-Lived Intangible Assets	September 30, December 31, 2015 2014 Indefinite-lived Intangible Assets: Insurance licenses $ 7,977 $ 7,977 Total indefinite-lived $ 7,977 $ 7,977

Note11. Accumulated Other Com40

Note11. Accumulated Other Comprehensive Income (loss): Schedule of Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Accumulated Other Comprehensive Income (Loss)	Three Months Ended September 30, 2015 Unrealized Gains (Losses) on Available-for Sale Cash Flow Securities Hedge Total Beginning balance $ (3,184) $ (33) $ (3,217) Other comprehensive income (loss) before reclassifications 1,834 20 1,854 Amounts reclassified from accumulated OCI 68 - 68 Net other comprehensive income (loss) 1,902 20 1,922 Less: Other comprehensive income attributable to noncontrolling interests (51) - (51) Ending balance $ (1,333) $ (13) $ (1,346) Three Months Ended September 30, 2014 Unrealized Gains (Losses) on Available-for Sale Cash Flow Securities Hedge Total Beginning balance $ (1,420) $ (99) $ (1,519) Other comprehensive income (loss) before reclassifications (587) 41 (546) Amounts reclassified from accumulated OCI (1,211) - (1,211) Net other comprehensive income (loss) (1,798) 41 (1,757) Less: Other comprehensive income attributable to noncontrolling interests 81 - 81 Ending balance $ (3,137) $ (58) $ (3,195) Nine Months Ended September 30, 2015 Unrealized Gains (Losses) on Available-for Sale Cash Flow Securities Hedge Total Beginning balance $ 72 $ (50) $ 22 Other comprehensive income (loss) before reclassifications 1,728 37 1,765 Amounts reclassified from accumulated OCI (3,077) - (3,077) Net other comprehensive income (loss) (1,349) 37 (1,312) Less: Other comprehensive income attributable to noncontrolling interests (61) - (61) Acquired from noncontrolling interests 5 - 5 Ending balance $ (1,333) $ (13) $ (1,346) Nine Months Ended September 30, 2014 Unrealized Gains (Losses) on Available-for Sale Cash Flow Securities Hedge Total Beginning balance $ (10,350) $ (122) $ (10,472) Other comprehensive income (loss) before reclassifications 12,177 64 12,241 Amounts reclassified from accumulated OCI (4,832) - (4,832) Net other comprehensive income (loss) 7,345 64 7,409 Less: Other comprehensive income attributable to noncontrolling interests (132) - (132) Ending balance $ (3,137) $ (58) $ (3,195)

Note11. Accumulated Other Com41

Note11. Accumulated Other Comprehensive Income (loss): Reclassification out of Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Reclassification out of Accumulated Other Comprehensive Income	Three Months Ended Nine months Ended September 30, September 30, 2015 2014 2015 2014 Unrealized gains (losses) on available-for-sale securities reclassified during the period to the following income statement line items: Net realized investment gains (losses) $ 122 $ 1,535 $ 5,001 $ 7,022 Net impairment losses recognized in earnings (228) - (228) - Income (loss) before income tax (106) 1,535 4,773 7,022 Tax effect (38) 324 1,696 2,190 Net income (loss) $ (68) $ 1,211 $ 3,077 $ 4,832

Note 12. Share-based Compensa42

Note 12. Share-based Compensation: Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan (Tables)	9 Months Ended
	Sep. 30, 2015
Independence Holding Company Share Based Plans Total Member
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 IHC’s Share-based Compensation Plan: Stock options $ - $ 66 $ 55 $ 603 Restricted stock units 23 22 67 64 SARs (23) (190) (80) (113) Share-based compensation expense, pre-tax - (102) 42 554 Tax benefits - (41) 17 221 Share-based compensation expense, net $ - $ (61) $ 25 $ 333
American Independence Corp Share Based Plans Total Member
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 AMIC’s Share-based Compensation Plans: Stock options $ 11 $ 13 $ 32 $ 40 Share-based compensation expense, pre-tax 11 13 32 40 Tax benefits 4 4 11 14 Share-based compensation expense, net $ 7 $ 9 $ 21 $ 26

Note 12. Share-based Compensa43

Note 12. Share-based Compensation: Schedule of Share-based Compensation, Stock Options, Activity (Tables)	9 Months Ended
	Sep. 30, 2015
Independence Holding Company Share Based Plans Total Member
Schedule of Share-based Compensation, Stock Options, Activity	Shares Weighted- Average Under Option Exercise Price December 31, 2014 614,680 $ 9.33 Exercised (17,100) 9.09 September 30, 2015 597,580 $ 9.34
American Independence Corp Share Based Plans Total Member
Schedule of Share-based Compensation, Stock Options, Activity	Shares Weighted- Average Under Option Exercise Price December 31, 2014 166,616 $ 10.50 Exercised (8,890) 5.81 Forfeited (26,001) 8.90 Expired (60,167) 13.82 September 30, 2015 71,558 $ 8.88

Note 12. Share-based Compensa44

Note 12. Share-based Compensation: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Tables)	9 Months Ended
	Sep. 30, 2015
Independence Holding Company Share Based Plans Total Member
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding	September 30, 2015 Outstanding Exercisable Number of options 597,580 597,580 Weighted average exercise price per share $ 9.34 $ 9.34 Aggregate intrinsic value for all options (in thousands) $ 2,164 $ 2,164 Weighted average contractual term remaining 1.6 years 1.6 years
American Independence Corp Share Based Plans Total Member
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding	September 30, 2015 Outstanding Exercisable Number of options 71,558 58,224 Weighted average exercise price per share $ 8.88 $ 8.73 Aggregate intrinsic value for all options (in thousands) $ 109 $ 96 Weighted average contractual term remaining 4.44 years 3.55 years

Note 12. Share-based Compensa45

Note 12. Share-based Compensation: Schedule of Share-based Compensation, Restricted Stock Units Award Activity (Tables)	9 Months Ended
	Sep. 30, 2015
Independence Holding Company Share Based Plans Total Member
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	No. of Weighted-Average Non-vested Grant-Date Shares Fair Value December 31, 2014 14,850 $ 12.09 Granted 7,425 11.78 Vested (7,425) 11.44 September 30, 2015 14,850 $ 12.26

Note 12. Share-based Compensa46

Note 12. Share-based Compensation: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	9 Months Ended
	Sep. 30, 2015
American Independence Corp Share Based Plans Total Member
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	September 30, 2014 Weighted-average risk-free interest rate 2.72% Annual dividend rate per share $ - Weighted-average volatility factor of the Company's common stock 38.27% Weighted-average expected term of options 5 years

Note 14. Segment Reporting_ Sch

Note 14. Segment Reporting: Schedule of Segment Reporting Information, by Segment (Tables)	9 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Segment Reporting Information, by Segment	Three Months Ended Nine Months Ended September 30, September 30 2015 2014 2015 2014 Revenues: Medical Stop-Loss $ 53,965 $ 45,734 $ 162,205 $ 138,821 Fully Insured Health 45,193 57,412 141,356 184,839 Group disability, life, annuities and DBL 24,404 16,948 65,879 50,091 Individual life, annuities and other 7,987 8,764 25,287 26,049 Corporate 45 50 137 129 131,594 128,908 394,864 399,929 Gain on sale of subsidiary to joint venture 10,161 - 10,161 - Net realized investment gains (losses) (1,109) 844 2,991 6,914 Net impairment losses recognized in earnings (228) - (228) - Total revenues $ 140,418 $ 129,752 $ 407,788 $ 406,843 Income before income taxes: Medical Stop-Loss $ 6,523 $ 6,339 $ 16,430 $ 15,730 Fully Insured Health (A) 2,399 370 5,231 2,325 Group disability, life, annuities and DBL 4,400 4,057 10,774 7,237 Individual life, annuities and other (B) 3,623 (1,683) 1,238 (4,903) Corporate (2,111) (1,423) (5,308) (5,833) 14,834 7,660 28,365 14,556 Gain on sale of subsidiary to joint venture 10,161 - 10,161 - Net realized investment gains (losses) (1,109) 844 2,991 6,914 Net impairment losses recognized in earnings (228) - (228) - Interest expense (444) (539) (1,354) (1,357) Income before income taxes $ 23,214 $ 7,965 $ 39,935 $ 20,113

Note 1. Organization, Consoli48

Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies (Details)	Sep. 30, 2015	Dec. 31, 2014
GeneveAffiliatedEntityMember
EntityCommonStockOutstandingOwnershipPercent	53.00%
AMICSubsidiariesMember
Noncontrolling Interest, Ownership Percentage by Parent	92.00%	90.00%

Note 1. Organization, Consoli49

Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies: Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Net	$ 112
AMICSubsidiariesMember
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent	(199)
IPASubsidiariesMember
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent	$ 311

Note 2. Income Per Common Sha50

Note 2. Income Per Common Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Details
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	165	168	165	160

Note 3. Investment Securities51

Note 3. Investment Securities: Schedule of Available-for-sale Securities Reconciliation (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Available For Sale Debt Securities Amortized Cost Basis	$ 437,773	$ 585,160
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	4,567	4,849
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	6,411	6,129
Fixed maturities, available-for-sale	435,929	583,880
Available For Sale Equity Securities Amortized Cost Basis	8,931	12,456
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax	172	1,586
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	355	147
Equity securities, available-for-sale	8,748	13,895
Corporate Debt Securities
Available For Sale Debt Securities Amortized Cost Basis	170,411	264,162
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	411	1,076
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	4,575	3,314
Fixed maturities, available-for-sale	166,247	261,924
Residential Mortgage Backed Securities Member
Available For Sale Debt Securities Amortized Cost Basis	3,165	5,073
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	45	55
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax		22
Fixed maturities, available-for-sale	3,210	5,106
Commercial Mortgage Backed Securities
Available For Sale Debt Securities Amortized Cost Basis	975	975
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	303
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax		22
Fixed maturities, available-for-sale	1,278	953
US Treasury Securities
Available For Sale Debt Securities Amortized Cost Basis	36,269	22,766
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	334	126
Fixed maturities, available-for-sale	36,603	22,892
US Government Agencies Debt Securities
Available For Sale Debt Securities Amortized Cost Basis	36	65
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	1	4
Fixed maturities, available-for-sale	37	69
US Government-sponsored Enterprises Debt Securities
Available For Sale Debt Securities Amortized Cost Basis	11,901	14,706
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	25	36
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	243	86
Fixed maturities, available-for-sale	11,683	14,656
US States and Political Subdivisions Debt Securities
Available For Sale Debt Securities Amortized Cost Basis	209,143	238,514
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	3,300	3,253
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	1,552	2,386
Fixed maturities, available-for-sale	210,891	239,381
Foreign Government Debt
Available For Sale Debt Securities Amortized Cost Basis	1,837	34,863
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	50	136
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax		299
Fixed maturities, available-for-sale	1,887	34,700
Redeemable Preferred Stock
Available For Sale Debt Securities Amortized Cost Basis	4,036	4,036
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	98	163
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	41
Fixed maturities, available-for-sale	4,093	4,199
COMMON STOCK
Available For Sale Equity Securities Amortized Cost Basis	4,927	8,452
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax		1,452
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	355	147
Equity securities, available-for-sale	4,572	9,757
Nonredeemable Preferred Stock
Available For Sale Equity Securities Amortized Cost Basis	4,004	4,004
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax	172	134
Equity securities, available-for-sale	$ 4,176	$ 4,138

Note 3. Investment Securities52

Note 3. Investment Securities: Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Details
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Amortized Cost Basis	$ 3,796
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value	3,819
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Amortized Cost Basis	86,666
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value	86,501
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Amortized Cost Basis	119,483
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value	119,799
Available-for-sale Securities, Debt Maturities, Rolling after Year Ten, Amortized Cost Basis	212,745
Available-for-sale Securities, Debt Maturities, Rolling after Year Ten, Fair Value	210,618
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis	15,083
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value	15,192
Available For Sale Debt Securities Amortized Cost Basis	437,773	$ 585,160
Fixed maturities, available-for-sale	$ 435,929	$ 583,880

Note 3. Investment Securities53

Note 3. Investment Securities: Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Details) $ in Thousands	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value	$ 145,737	$ 161,904
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	4,056	2,540
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	71,293	161,489
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2,710	3,736
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	217,030	323,393
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 6,766	$ 6,276
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year	62	70
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year	21	46
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	83	116
Corporate Debt Securities
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value	$ 96,293	$ 77,868
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	2,898	1,473
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	33,355	69,498
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1,677	1,841
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	129,648	147,366
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	4,575	3,314
US Government-sponsored Enterprises Debt Securities
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value	5,604
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	125
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	5,035	9,581
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	118	86
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	10,639	9,581
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	243	86
US States and Political Subdivisions Debt Securities
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value	36,049	58,819
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	637	744
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	32,903	67,318
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	915	1,642
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	68,952	126,137
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	1,552	2,386
Redeemable Preferred Stock
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value	3,722
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	41
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	3,722
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	41
Debt Securities
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value	141,668	159,897
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	3,701	2,404
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	71,293	161,141
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2,710	3,725
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	212,961	321,038
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	6,411	6,129
COMMON STOCK
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value	4,069	2,007
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	355	136
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		348
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss		11
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	4,069	2,355
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	355	147
Equity Securities
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value	4,069	2,007
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	355	136
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		348
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss		11
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	4,069	2,355
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 355	147
Residential Mortgage Backed Securities Member
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value		2,062
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss		16
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		1,562
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss		6
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		3,624
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		22
Commercial Mortgage Backed Securities
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		953
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss		22
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		953
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		22
Foreign Government Debt
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value		21,148
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss		171
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		12,229
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss		128
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		33,377
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		$ 299

Note 3. Investment Securities54

Note 3. Investment Securities: Realized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Available for sale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments	$ 122	$ 1,536	$ 5,001	$ 7,022
Trading Securities, Realized Gain (Loss)	(703)	321	(1,124)	351
Marketable Securities, Realized Gain (Loss), Excluding Other than Temporary Impairments	(581)	1,857	3,877	7,373
Trading Securities, Change in Unrealized Holding Gain (Loss)	(530)	(1,010)	(882)	(458)
Marketable Securities, Unrealized Gain (Loss), Excluding Other than Temporary Impairments	(530)	(1,010)	(882)	(458)
Gain (Loss) on Sale of Other Investments	2	(3)	(4)	(1)
Net realized investment gains	(1,109)	844	2,991	6,914
Debt Securities
Available for sale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments	$ 122	$ 1,536	3,536	7,027
COMMON STOCK
Available for sale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments			$ 1,465
Nonredeemable Preferred Stock
Available for sale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments				$ (5)

Note 3. Investment Securities (

Note 3. Investment Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds	$ 226,350	$ 71,845	$ 612,363	$ 297,372
Available-for-sale Securities, Gross Realized Gains	301	1,794	6,074	8,398
Available-for-sale Securities, Gross Realized Losses	148	$ 153	790	$ 694
Net impairment losses recognized in earnings	228		228
Collateralized Mortgage Backed Securities
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities	$ 335		$ 335		$ 335

Note 3. Investment Securities56

Note 3. Investment Securities: Other than Temporary Impairment, Credit Losses Recognized in Earnings (Details) - Available-for-sale Securities - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 473	$ 473	$ 473	$ 473	$ 473
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 473	$ 473	$ 473	$ 473	$ 473

Note 4. Cash Flow Hedge (Detail

Note 4. Cash Flow Hedge (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Notes Payable to Banks
Long Term Debt Percentage Bearing Fixed Interest Rate	4.95%	4.95%
Interest Rate Swap | Designated as Hedging Instrument
Derivative Liability Notional Amount	$ 2,000	$ 4,000
Derivative Fixed Interest Rate	1.60%	1.60%
Interest Rate Swap | Designated as Hedging Instrument | Accounts Payable and Accrued Liabilities
Derivative Liability, Fair Value, Gross Liability	$ 21	$ 83

Note 5. Fair Value Disclosure58

Note 5. Fair Value Disclosures: Fair Value Measurements, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fixed maturities, available-for-sale	$ 435,929	$ 583,880
Equity securities, available-for-sale	8,748	13,895
Trading securities	8,993	11,095
Corporate Debt Securities
Fixed maturities, available-for-sale	166,247	261,924
Residential Mortgage Backed Securities Member
Fixed maturities, available-for-sale	3,210	5,106
Commercial Mortgage Backed Securities
Fixed maturities, available-for-sale	1,278	953
US Treasury Securities
Fixed maturities, available-for-sale	36,603	22,892
US Government Agencies Debt Securities
Fixed maturities, available-for-sale	37	69
US Government-sponsored Enterprises Debt Securities
Fixed maturities, available-for-sale	11,683	14,656
US States and Political Subdivisions Debt Securities
Fixed maturities, available-for-sale	210,891	239,381
Foreign Government Debt
Fixed maturities, available-for-sale	1,887	34,700
Redeemable Preferred Stock
Fixed maturities, available-for-sale	4,093	4,199
COMMON STOCK
Equity securities, available-for-sale	4,572	9,757
Nonredeemable Preferred Stock
Equity securities, available-for-sale	4,176	4,138
Fair Value, Measurements, Recurring
Fixed maturities, available-for-sale	435,929	583,880
Equity securities, available-for-sale	8,748	13,895
Trading securities	8,993	11,095
Assets, Fair Value Disclosure, Recurring	453,670	608,870
Contingent Liabilities	2,179
Liabilities, Fair Value Disclosure, Recurring	2,200	83
Fair Value, Measurements, Recurring | Interest Rate Swap
Derivative Liability, Fair Value, Gross Liability	21
Fair Value, Measurements, Recurring | Corporate Debt Securities
Fixed maturities, available-for-sale	166,247	261,924
Fair Value, Measurements, Recurring | Residential Mortgage Backed Securities Member
Fixed maturities, available-for-sale	3,210	5,106
Fair Value, Measurements, Recurring | Commercial Mortgage Backed Securities
Fixed maturities, available-for-sale	1,278	953
Fair Value, Measurements, Recurring | US Treasury Securities
Fixed maturities, available-for-sale	36,603	22,892
Fair Value, Measurements, Recurring | US Government Agencies Debt Securities
Fixed maturities, available-for-sale	37	69
Fair Value, Measurements, Recurring | US Government-sponsored Enterprises Debt Securities
Fixed maturities, available-for-sale	11,683	14,656
Fair Value, Measurements, Recurring | US States and Political Subdivisions Debt Securities
Fixed maturities, available-for-sale	210,891	239,381
Fair Value, Measurements, Recurring | Foreign Government Debt
Fixed maturities, available-for-sale	1,887	34,700
Fair Value, Measurements, Recurring | Redeemable Preferred Stock
Fixed maturities, available-for-sale	4,093	4,199
Fair Value, Measurements, Recurring | COMMON STOCK
Equity securities, available-for-sale	4,572	9,757
Fair Value, Measurements, Recurring | Nonredeemable Preferred Stock
Equity securities, available-for-sale	4,176	4,138
Fair Value, Measurements, Recurring | Equity Securities
Trading securities	8,993	11,095
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Fixed maturities, available-for-sale	4,093	4,199
Equity securities, available-for-sale	8,748	13,895
Trading securities	8,993	11,095
Assets, Fair Value Disclosure, Recurring	21,834	29,189
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Redeemable Preferred Stock
Fixed maturities, available-for-sale	4,093	4,199
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | COMMON STOCK
Equity securities, available-for-sale	4,572	9,757
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Nonredeemable Preferred Stock
Equity securities, available-for-sale	4,176	4,138
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Equity Securities
Trading securities	8,993	11,095
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fixed maturities, available-for-sale	428,343	576,414
Assets, Fair Value Disclosure, Recurring	428,343	576,414
Liabilities, Fair Value Disclosure, Recurring	21	83
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Interest Rate Swap
Derivative Liability, Fair Value, Gross Liability	21
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Corporate Debt Securities
Fixed maturities, available-for-sale	166,247	261,924
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Residential Mortgage Backed Securities Member
Fixed maturities, available-for-sale	3,210	5,106
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | US Treasury Securities
Fixed maturities, available-for-sale	36,603	22,892
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | US Government Agencies Debt Securities
Fixed maturities, available-for-sale	37	69
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | US Government-sponsored Enterprises Debt Securities
Fixed maturities, available-for-sale	11,683	14,656
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | US States and Political Subdivisions Debt Securities
Fixed maturities, available-for-sale	208,676	237,067
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Foreign Government Debt
Fixed maturities, available-for-sale	1,887	34,700
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fixed maturities, available-for-sale	3,493	3,267
Assets, Fair Value Disclosure, Recurring	3,493	3,267
Contingent Liabilities	2,179
Liabilities, Fair Value Disclosure, Recurring	2,179
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Commercial Mortgage Backed Securities
Fixed maturities, available-for-sale	1,278	953
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | US States and Political Subdivisions Debt Securities
Fixed maturities, available-for-sale	$ 2,215	$ 2,314

Note 5. Fair Value Disclosure59

Note 5. Fair Value Disclosures: Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 3,481	$ 3,285	$ 3,267	$ 3,034
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Beginning Balance	1,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	34	4	289	286
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(22)	(18)	(63)	(49)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	3,493	3,271	3,493	3,271
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Ending Balance	2,179		2,179
Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Liability, Assumed			1,000
Gain On Sale Of Subsidiary To Joint Venture
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	1,281		1,281
Investment Income
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	(102)		(102)
Contingent Liability Member
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Beginning Balance	1,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Ending Balance	2,179		2,179
Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Liability, Assumed			1,000
Contingent Liability Member | Gain On Sale Of Subsidiary To Joint Venture
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	1,281		1,281
Contingent Liability Member | Investment Income
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	(102)		(102)
Commercial Mortgage Backed Securities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1,233	906	953	593
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	45	18	325	331
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	1,278	924	1,278	924
US States and Political Subdivisions Debt Securities
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	2,248	2,379	2,314	2,441
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	(11)	(14)	(36)	(45)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(22)	(18)	(63)	(49)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 2,215	$ 2,347	$ 2,215	$ 2,347

Note 5. Fair Value Disclosure60

Note 5. Fair Value Disclosures: Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Funds on deposit	$ 172,087	$ 186,782
Estimate of Fair Value, Fair Value Disclosure | Fair Value, Inputs, Level 2
Policy Loans Receivable	44	13,356
Funds on deposit	172,352	187,213
Long-term Debt	43,244	42,146
Carrying (Reported) Amount, Fair Value Disclosure
Policy Loans Receivable	38	10,667
Funds on deposit	172,087	186,782
Long-term Debt	$ 43,335	$ 42,146

Note 6. Acquisition and Decon61

Note 6. Acquisition and Deconsolidation of Subsidiaries (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2015	Apr. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Goodwill	$ 53,371		$ 53,371		$ 53,371	$ 53,371		$ 50,318
TOTAL REVENUES			140,418	$ 129,752		407,788	$ 406,843
Net income (loss)			14,888	$ 4,824		25,375	12,709
Proceeds from Divestiture of Interest in Consolidated Subsidiaries	$ 6,000
Third Party Option To Increase Ownership In Joint Venture, Percentage	50.00%
Third Party Option To Increase Ownership In Joint Venture, Period	3
Gain on sale of subsidiary to joint venture	$ 10,161		10,161			10,161
Deconsolidation, Gain (Loss), Amount	11,441
Loss Contingency, Loss in Period	1,280
Deconsolidation, Revaluation of Retained Investment, Gain (Loss), Amount	5,441
Equity income from equity method investments						579	$ 1,030
Ebix Health Exchange Holdings Member
Equity Method Investments	$ 10,707		$ 10,707		$ 10,707	$ 10,707
Equity Method Investment, Ownership Percentage	60.00%		60.00%		60.00%	60.00%
Equity income from equity method investments			$ (36)			$ (36)
Accounts Payable and Accrued Liabilities | Ebix Health Exchange Member
Due to Related Parties	$ 450		450		$ 450	450
Other Assets | Ebix Health Exchange Member
Due from Related Parties	$ 1,210		1,210		1,210	1,210
Fee Income Member | Ebix Health Exchange Member
Revenue from Related Parties			25			25
Selling, General and Administrative Expenses | Ebix Health Exchange Member
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party			362			$ 362
GAF Acquiree Member
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage		40.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage		80.00%
Business Combination, Step Acquisition, Percentage of Interest Acquired		40.00%
Payments to Acquire Businesses, Gross		$ 325
Business Combination, Consideration Transferred, Other		1,195
Equity Method Investments		1,908
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Loss		692
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value		1,216
Nonmonetary Transaction, Gain (Loss) Recognized on Transfer		1,195
Goodwill		6,134
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		5,500
Business Combination, Consideration Transferred		1,520
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value		608
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		(2,790)
TOTAL REVENUES			2,480		4,220
Net income (loss)			$ 59		$ 359
GAF Acquiree Member | Accounts Payable and Accrued Liabilities
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability		1,000
GAF Acquiree Member | Other Income
Business Combination, Step Acquisition, Total Gain (Loss)		$ 503

Note 6. Acquisition and Decon62

Note 6. Acquisition and Deconsolidation of Subsidiaries: Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - GAF Acquiree Member $ in Thousands	Apr. 30, 2015USD ($)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 836
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	5,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	1,249
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	7,585
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	4,849
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent	2,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	3,326
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	10,375
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ (2,790)

Note 7. Goodwill and Other In63

Note 7. Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Goodwill		$ 53,371		$ 53,371		$ 50,318
Intangible Assets, Net (Excluding Goodwill)		16,083		16,083		$ 12,135
Amortization of Intangible Assets		542	$ 653	1,471	$ 2,011
Fully Insured Segment Member
Goodwill, Written off Related to Sale of Business Unit		3,081
Net Intangible Assets Written off Related to Sale Of Business Unit		81
Amortization of Intangible Assets		$ 425	$ 493	$ 1,070	$ 1,477
GAF Acquiree Member
Goodwill	$ 6,134
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	5,500
GAF Acquiree Member | Fully Insured Segment Member
Goodwill	6,134
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	5,500
GAF Acquiree Member | Fully Insured Segment Member | Trademarks
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 1,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 years
GAF Acquiree Member | Fully Insured Segment Member | Customer Relationships
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 4,500
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years

Note 7. Goodwill and Other In64

Note 7. Goodwill and Other Intangible Assets: Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets, Gross	$ 24,706	$ 22,725
Finite-Lived Intangible Assets, Accumulated Amortization	16,600	18,567
Customer Relationships
Finite-Lived Intangible Assets, Gross	23,706	22,725
Finite-Lived Intangible Assets, Accumulated Amortization	16,548	$ 18,567
Trademarks
Finite-Lived Intangible Assets, Gross	1,000
Finite-Lived Intangible Assets, Accumulated Amortization	$ 52

Note 7. Goodwill and Other In65

Note 7. Goodwill and Other Intangible Assets: Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 7,977	$ 7,977
Licensing Agreements
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 7,977	$ 7,977

Note 8. Reinsurance (Details)

Note 8. Reinsurance (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Material Nonrecurring Reinsurance Transactions	On July 31, 2015, Madison National Life and Standard Security Life together entered into a coinsurance and sale agreement with an unaffiliated reinsurer, National Guardian Life Insurance Company (“NGL”), to: (i) cede substantially all of their individual life and annuity policy blocks currently in run-off; and (ii) sell the related infrastructure associated with the administration of such policies. The Company transferred $207,964,000 of cash to NGL, net of the aggregate consideration of $42,000,000 for the coinsurance and sale transaction. As a result of this transaction, the Company: (i) recorded $234,740,000 of estimated amounts due from reinsurers; (ii) recorded a $31,192,000 decrease in deferred acquisition costs associated with the ceded policies; (iii) recorded a $9,866,000 decrease in policy loans; (iv) recorded $7,686,000 of estimated costs of reinsurance (included in other assets) which will be amortized over the life of the underlying reinsured contracts; and (v) recognized a $5,053,000 pre-tax gain (included in other income) on the sale of the assets associated with the administration of the ceded policies, net of disposal costs. The ceding of reinsurance does not discharge the primary liability of the original insurer to the insured. However, as a result of this transaction, it is anticipated that approximately $76,000,000 of the aforementioned life and annuity reserves will be assigned and transferred to the reinsurer, pending regulatory approval, by the end of 2015, contractually relieving the Company of the liability with regards to those policies.
Due from reinsurers		$ 481,813	$ 278,242
Other assets		$ 54,637	$ 57,126
Coinsurance And Sale Transaction With National Guardian Life Insurance Company Member
Payment To Reinsurer For Coinsurance And Sale Transaction	$ 207,964
Purchase Price Received	42,000
Due from reinsurers	234,740
Deferred Policy Acquisition Costs, Period Increase (Decrease)	(31,192)
Increase (Decrease) in Policy Loans Receivable	(9,866)
Other assets	7,686
Coinsurance And Sale Transaction With National Guardian Life Insurance Company Member | Life and Annuity Insurance Product Line | Scenario, Plan
Liability for Future Policy Benefits, Other Increase (Decrease)	$ (76,000)

Note 9. Debt (Details)

Note 9. Debt (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 30, 2015	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Repayment of long-term debt		$ 2,137	$ 2,137	$ 2,000
GAF Acquiree Member
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	$ 3,326
GAF Acquiree Member | Notes Payable, Other Payables
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	$ 3,026
Debt Instrument, Maturity Date Range, End	Jan. 2, 2019
Long Term Debt Percentage Bearing Fixed Interest Rate	2.50%
GAF Acquiree Member | Line of Credit
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	$ 300
Long Term Debt Percentage Bearing Fixed Interest Rate	4.00%

Note 10. Income Taxes (Details)

Note 10. Income Taxes (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Apr. 30, 2015	Dec. 31, 2014
AMICSubsidiariesMember
Deferred Tax Assets, Net		$ 7,115		$ 11,517
AMIC | Domestic Tax Authority
Operating Loss Carryforwards	[1]	$ 259,257
GAF Acquiree Member
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent			$ 2,200
[1]	Which expire in varying amounts through 2028, a significant portion expires in 2020.

Note11. Accumulated Other Com69

Note11. Accumulated Other Comprehensive Income (loss): Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated other comprehensive income (loss)	$ (3,217)	$ (1,519)	$ 22	$ (10,472)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,854	(546)	1,765	12,241
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(68)	1,211	3,077	4,832
Other comprehensive income (loss), net of tax	1,922	(1,757)	(1,312)	7,409
Other comprehensive (income) loss, net of tax, attributable to noncontrolling interests	(51)	81	(61)	(132)
Accumulated other comprehensive income (loss)	(1,346)	(3,195)	(1,346)	(3,195)
Unrealized Gains/Losses Purchased from Noncontrolling Interests			5
Accumulated Net Unrealized Investment Gain (Loss)
Accumulated other comprehensive income (loss)	(3,184)	(1,420)	72	(10,350)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,834	(587)	1,728	12,177
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(68)	1,211	3,077	4,832
Other comprehensive income (loss), net of tax	1,902	(1,798)	(1,349)	7,345
Other comprehensive (income) loss, net of tax, attributable to noncontrolling interests	(51)	81	(61)	(132)
Accumulated other comprehensive income (loss)	(1,333)	(3,137)	(1,333)	(3,137)
Unrealized Gains/Losses Purchased from Noncontrolling Interests			5
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Accumulated other comprehensive income (loss)	(33)	(99)	(50)	(122)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	20	41	37	64
Other comprehensive income (loss), net of tax	20	41	37	64
Accumulated other comprehensive income (loss)	$ (13)	$ (58)	$ (13)	$ (58)

Note11. Accumulated Other Com70

Note11. Accumulated Other Comprehensive Income (loss): Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net realized investment gains	$ (1,109)	$ 844	$ 2,991	$ 6,914
Net impairment losses recognized in earnings	228		228
Income (loss) before income taxes	23,214	7,965	39,935	20,113
Income taxes (benefits)	8,326	3,141	14,560	7,404
Net income (loss)	14,888	4,824	25,375	12,709
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Unrealized Investment Gain (Loss)
Net realized investment gains	122	1,535	5,001	7,022
Net impairment losses recognized in earnings	228		228
Income (loss) before income taxes	(106)	1,535	4,773	7,022
Income taxes (benefits)	(38)	324	1,696	2,190
Net income (loss)	$ (68)	$ 1,211	$ 3,077	$ 4,832

Note 12. Share-based Compensa71

Note 12. Share-based Compensation: Share-based Compensation, Option and Incentive Plans Policy (Details)	9 Months Ended
	Sep. 30, 2015
Independence Holding Company Share Based Plans Total Member | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Independence Holding Company Share Based Plans Total Member | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Independence Holding Company Share Based Plans Total Member | Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
American Independence Corp Share Based Plans Total Member | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
American Independence Corp Share Based Plans Total Member | Employee Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
American Independence Corp Share Based Plans Total Member | Employee Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years

Note 12. Share-based Compensa72

Note 12. Share-based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Independence Holding Company Share Based Plans Total Member
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	369,861
Independence Holding Company Share Based Plans Total Member | Employee Stock Option
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options	$ 155
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	72
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options	$ 11
Independence Holding Company Share Based Plans Total Member | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	7,425	7,425
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 11.78	$ 13.27
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 89	$ 103
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options	$ 152
Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition 1	2 years
Independence Holding Company Share Based Plans Total Member | Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	129,150		136,850
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised	7,700
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share-based Liabilities Paid	$ 38
Independence Holding Company Share Based Plans Total Member | Stock Appreciation Rights (SARs) | Accounts Payable and Accrued Liabilities
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent	673		$ 791
American Independence Corp Share Based Plans Total Member | Employee Stock Option
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 5.70
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options	$ 51

Note 12. Share-based Compensa73

Note 12. Share-based Compensation: Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Independence Holding Company Share Based Plans Total Member
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense		$ (41)	$ 17	$ 221
Allocated Share-based Compensation Expense, Net of Tax		(61)	25	333
Independence Holding Company Share Based Plans Total Member | Selling, General and Administrative Expenses
Allocated Share-based Compensation Expense		(102)	42	554
Independence Holding Company Share Based Plans Total Member | Employee Stock Option | Selling, General and Administrative Expenses
Allocated Share-based Compensation Expense		66	55	603
Independence Holding Company Share Based Plans Total Member | Restricted Stock Units (RSUs) | Selling, General and Administrative Expenses
Allocated Share-based Compensation Expense	$ 23	22	67	64
Independence Holding Company Share Based Plans Total Member | Stock Appreciation Rights (SARs) | Selling, General and Administrative Expenses
Allocated Share-based Compensation Expense	(23)	(190)	(80)	(113)
American Independence Corp Share Based Plans Total Member
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	4	4	11	14
Allocated Share-based Compensation Expense, Net of Tax	7	9	21	26
American Independence Corp Share Based Plans Total Member | Selling, General and Administrative Expenses
Allocated Share-based Compensation Expense	11	13	32	40
American Independence Corp Share Based Plans Total Member | Employee Stock Option | Selling, General and Administrative Expenses
Allocated Share-based Compensation Expense	$ 11	$ 13	$ 32	$ 40

Note 12. Share-based Compensa74

Note 12. Share-based Compensation: Schedule of Share-based Compensation, Stock Options, Activity (Details) - Employee Stock Option	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Independence Holding Company Share Based Plans Total Member
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number	614,680
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares	$ 9.33
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	17,100
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares	$ 9.09
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number	597,580
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares	$ 9.34
American Independence Corp Share Based Plans Total Member
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number	166,616
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares	$ 10.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	8,890
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares	$ 5.81
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number	71,558
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares	$ 8.88
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	26,001
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares	$ 8.90
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	60,167
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $ / shares	$ 13.82

Note 12. Share-based Compensa75

Note 12. Share-based Compensation: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Details) - Employee Stock Option $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Independence Holding Company Share Based Plans Total Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	597,580
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number	597,580
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares	$ 9.34
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ / shares	$ 9.34
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 2,164
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $	$ 2,164
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	1 year 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term	1 year 7 months 6 days
American Independence Corp Share Based Plans Total Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	71,558
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number	58,224
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares	$ 8.88
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ / shares	$ 8.73
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 109
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $	$ 96
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	4 years 5 months 8 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term	3 years 6 months 18 days

Note 12. Share-based Compensa76

Note 12. Share-based Compensation: Schedule of Share-based Compensation, Restricted Stock Units Award Activity (Details) - Independence Holding Company Share Based Plans Total Member - Restricted Stock Units (RSUs) - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	14,850
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 12.09
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	7,425	7,425
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 11.78	$ 13.27
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	7,425
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 11.44
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	14,850
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 12.26

Note 12. Share-based Compensa77

Note 12. Share-based Compensation: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - American Independence Corp Share Based Plans Total Member - Employee Stock Option	9 Months Ended
	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.72%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	38.27%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years

Note 13. Supplemental Disclos78

Note 13. Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Income Taxes Paid (Refunds), Net	$ 2,800	$ (2,598)
Interest Paid	$ 1,318	$ 1,366

Note 14. Segment Reporting_ S79

Note 14. Segment Reporting: Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
TOTAL REVENUES	$ 140,418	$ 129,752	$ 407,788	$ 406,843
Income (loss) before income taxes	23,214	7,965	39,935	20,113
Operating Segments
TOTAL REVENUES	131,594	128,908	394,864	399,929
Income (loss) before income taxes	14,834	7,660	28,365	14,556
Segment Reconciling Items | Gain On Sale Of Subsidiary To Joint Venture
TOTAL REVENUES	10,161		10,161
Income (loss) before income taxes	10,161		10,161
Segment Reconciling Items | Net realized investment gains
TOTAL REVENUES	(1,109)	844	2,991	6,914
Income (loss) before income taxes	(1,109)	844	2,991	6,914
Segment Reconciling Items | Net Impairment Losses Recognized In Earnings
TOTAL REVENUES	(228)		(228)
Income (loss) before income taxes	(228)		(228)
Segment Reconciling Items | Interest Expense
Income (loss) before income taxes	(444)	(539)	(1,354)	(1,357)
Medical Stop-Loss Segment Member
TOTAL REVENUES	53,965	45,734	162,205	138,821
Income (loss) before income taxes	6,523	6,339	16,430	15,730
Fully Insured Segment Member
TOTAL REVENUES	45,193	57,412	141,356	184,839
Income (loss) before income taxes	2,399	370	5,231	2,325
Group disability, life annuities and DBL Segment Member
TOTAL REVENUES	24,404	16,948	65,879	50,091
Income (loss) before income taxes	4,400	4,057	10,774	7,237
Individual life annuities and other Segment Member
TOTAL REVENUES	7,987	8,764	25,287	26,049
Income (loss) before income taxes	3,623	(1,683)	1,238	(4,903)
Corporate
TOTAL REVENUES	45	50	137	129
Income (loss) before income taxes	$ (2,111)	$ (1,423)	$ (5,308)	$ (5,833)

Note 14. Segment Reporting (Det

Note 14. Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Amortization of Intangible Assets	$ 542	$ 653	$ 1,471	$ 2,011
Fully Insured Segment Member
Amortization of Intangible Assets	425	493	1,070	1,477
Individual life annuities and other Segment Member
Amortization of Other Deferred Charges	$ 213	$ 1,699	$ 629	$ 2,938