UTG (UTGN) 10-Q 12 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2014	Oct. 24, 2013	Mar. 31, 2013
Document and Entity Information [Abstract]	'	'	'
Entity Registrant Name	'UTG Inc	'	'
Entity Central Index Key	'0000832480	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'No	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Public Float	'	'	$0
Entity Common Stock, Shares Outstanding	'	0	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q1	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	31-Mar-14	'	'

Balance_Sheet

Balance Sheet (USD $)	Mar. 31, 2014	Dec. 31, 2013
Investments available for sale:	'	'
Fixed maturities, at fair value (amortized cost $169,147,449 and $171,085,396)	$175,911,151	$174,409,824
Equity securities, at fair value (cost $38,479,572 and $38,625,230)	40,705,899	40,514,978
Trading securities, at fair value (cost $7,105,592 and $6,924,413)	7,206,667	6,614,111
Mortgage loans on real estate at amortized cost	13,935,687	14,454,534
Discounted mortgage loans on real estate at cost	11,419,581	12,830,735
Investment real estate	83,937,511	83,585,359
Policy loans	11,638,101	11,860,960
Short-term investments	184,800	0
Total investments	344,939,397	344,270,501
Cash and cash equivalents	18,515,389	19,838,618
Accrued investment income	2,215,115	2,432,939
Future policy benefits	28,572,534	28,767,326
Policy claims and other benefits	3,652,857	3,926,736
Cost of insurance acquired	9,787,222	10,636,412
Deferred policy acquisition costs	356,872	369,786
Property and equipment, net of accumulated depreciation	1,147,139	1,185,108
Income tax receivable	1,293,637	1,296,043
Other assets	4,581,866	4,390,620
Total assets	415,062,028	417,114,089
Liabilities:	'	'
Future policyholder benefits	280,179,067	286,472,435
Policy claims and benefits payable	4,328,556	3,283,897
Other policyholder funds	378,000	378,772
Dividend and endowment accumulations	14,154,130	14,162,510
Deferred income taxes	10,275,593	9,633,641
Notes payable	19,097,534	19,097,534
Trading securities, at fair value (proceeds $503,854 and $505,272)	153,615	357,439
Other liabilities	6,819,339	5,860,420
Total liabilities	335,385,834	339,246,648
Common stock - no par value, stated value $.001 per share. Authorized 7,000,000 shares - 3,769,565 and 3,776,197 shares outstanding	3,769	3,776
Additional paid-in capital	43,972,782	44,050,778
Retained earnings	23,641,330	25,169,646
Accumulated other comprehensive income	6,751,519	3,459,401
Total UTG shareholders' equity	74,369,400	72,683,601
Noncontrolling interests	5,306,794	5,183,840
Total shareholders' equity	79,676,194	77,867,441
Total liabilities and shareholders' equity	$415,062,028	$417,114,089

Balance_Sheet_Parenthetical

Balance Sheet Parenthetical (USD $)	Mar. 31, 2014	Dec. 31, 2013
Investments available for sale:	'	'
Fixed maturities, amortized cost	$169,147,449	$171,085,396
Equity securities, cost	38,479,572	38,625,230
Trading securities, cost	7,105,592	6,924,413
Liabilities:	'	'
Trading Securities, Proceeds	$503,854	$505,272
Shareholders' equity:	'	'
Common stock, stated value (in dollars per share)	$0.00	$0.00
Common stock, authorized (in shares)	7,000,000	7,000,000
Common stock, outstanding (in shares)	3,769,565	3,776,197

Income_Statement

Income Statement (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues:	'	'
Premiums and policy fees	$2,733,687	$3,212,746
Ceded reinsurance premiums and policy fees	-780,983	-775,702
Net investment income	4,533,119	4,381,392
Other income	520,431	521,359
Revenues before realized gains	7,006,254	7,339,795
Realized investment gains (losses), net:	'	'
Other-than-temporary impairments	0	-26,926
Other realized investment gains, net	277,424	71,649
Total realized investment gains, net	277,424	44,723
Total revenue	7,283,678	7,384,518
Benefits, claims and settlement expenses:	'	'
Life	6,686,047	5,856,321
Ceded Reinsurance benefits and claims	-1,202,470	-597,779
Annuity	278,577	267,539
Dividends to policyholders	136,172	147,222
Commissions and amortization of deferred policy acquisition costs	-101,137	-23,552
Amortization of cost of insurance acquired	246,412	266,088
Operating expenses	2,656,118	2,055,125
Interest expense	181,832	110,437
Total benefits and other expenses	8,881,551	8,081,401
Loss before income taxes	-1,597,873	-696,883
Income tax (expense) benefit	192,511	-67,308
Net loss	-1,405,362	-764,191
Net income attributable to noncontrolling interests	-122,954	-146,081
Net loss attributable to common shareholders'	($1,528,316)	($910,272)
Amounts attributable to common shareholders':	'	'
Basic loss per share	($0.41)	($0.24)
Diluted loss per share	($0.41)	($0.24)
Basic weighted average shares outstanding	3,771,867	3,796,527
Diluted weighted average shares outstanding	3,771,867	3,796,527

Condensed_Consolidated_Stateme

Condensed Consolidated Statement of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Condensed Consolidated Statement of Comprehensive Income (Unaudited) [Abstract]	'	'
Net Loss	($1,405,362)	($764,191)
Other comprehensive income (loss), net of tax:	'	'
Unrealized holding gains (losses) arising during period	3,455,923	-23,750
Less reclassification adjustment for gains included in net loss	-163,805	-59,366
Subtotal: Other comprehensive income (loss), net of tax	3,292,118	-83,116
Comprehensive income (loss)	1,886,756	-847,307
Less comprehensive income attributable to noncontrolling interests	-122,954	-146,081
Comprehensive income (loss) attributable to UTG, Inc.	$1,763,802	($993,388)

Statement_of_Cash_Flows

Statement of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net loss attributable to common shareholders	($1,528,316)	($910,272)
Adjustments to reconcile net loss to net cash used in operating activities	'	'
Amortization (accretion) of investments	-536,311	-403,748
Realized investment gains, net	-277,424	-44,723
Unrealized trading (gains) losses included in income	-260,651	297,344
Amortization of deferred policy acquisition costs	12,914	14,108
Amortization of cost of insurance acquired	246,412	266,088
Depreciation	318,708	320,071
Net income attributable to noncontrolling interest	122,954	146,081
Charges for mortality and administration of universal life and annuity products	-1,689,689	-1,737,635
Interest credited to account balances	1,419,880	1,450,681
Change in accrued investment income	217,824	350,518
Change in reinsurance receivables	468,671	927,606
Change in policy liabilities and accruals	-1,207,644	-1,121,391
Change in income taxes receivable (payable)	2,406	-1,982,692
Change in other assets and liabilities, net	566,693	1,624,775
Net cash used in operating activities	-2,123,573	-803,189
Proceeds from investments sold and matured:	'	'
Fixed maturities available for sale	10,868,969	6,173,142
Equity securities available for sale	167,504	0
Trading securities	75,134	17,829,177
Mortgage loans	626,528	7,785,104
Discounted mortgage loans	2,087,795	1,505,565
Real estate	521,361	2,733,460
Policy loans	886,346	997,774
Proceeds from Short-Term Investments	0	29,383
Total proceeds from investments sold and matured	15,233,637	37,053,605
Cost of investments acquired:	'	'
Fixed maturities available for sale	-8,813,706	-8,856,558
Equity securities available for sale	0	-250,617
Trading securities	-257,730	-15,124,263
Mortgage loans	-107,681	-1,122,724
Discounted mortgage loans	-5,638	-1,280,456
Real estate	-1,150,682	-5,918,258
Policy loans	-663,488	-803,607
Short-term investments	-184,800	-25,000
Total cost of investments acquired	-11,183,725	-33,381,483
Net cash provided by investing activities	4,049,912	3,672,122
Cash flows from financing activities:	'	'
Policyholder contract deposits	1,489,219	1,521,403
Policyholder contract withdrawals	-1,615,210	-1,360,777
Payments of principal on notes payable/line of credit	0	-9,500
Purchase of treasury stock	-78,003	-54,048
Sale of block of business	-3,045,574	0
Net cash provided by (used in) financing activities	-3,249,568	97,078
Net increase (decrease) in cash and cash equivalents	-1,323,229	2,966,011
Cash and cash equivalents at beginning of period	19,838,618	23,321,246
Cash and cash equivalents at end of period	$18,515,389	$26,287,257

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2014
BASIS OF PRESENTATION [Abstract]	'
BASIS OF PRESENTATION	'
	Note 1 – Basis of Presentation
	The accompanying Condensed Consolidated Balance Sheet as of December 31, 2013, which has been derived from audited financial statements, and the unaudited interim Condensed Consolidated Financial Statements include the accounts of UTG, Inc. (the "Parent") and its subsidiaries (collectively with the Parent, the "Company").  All significant intercompany accounts and transactions have been eliminated in consolidation.  The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 8 of regulation S-X.  Accordingly, they do not include all of the information and notes required by GAAP for audited annual financial statements.  The information furnished includes all adjustments and accruals of a normal recurring nature, which in the opinion of management, are necessary for a fair presentation of the results for the interim periods.  The unaudited Condensed Consolidated Financial Statements included herein and these related notes should be read in conjunction with the Company's consolidated financial statements, and the notes thereto, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013.  The Company's results of operations for the three month period ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 or for any other future period.
	This document at times will refer to the Registrant's largest shareholder, Mr. Jesse T. Correll and certain companies controlled by Mr. Correll.  Mr. Correll holds a majority ownership of First Southern Funding LLC ("FSF"), a Kentucky corporation, and First Southern Bancorp, Inc. ("FSBI"), a financial services holding company.  FSBI operates through its 100 % owned subsidiary bank, First Southern National Bank ("FSNB").  Banking activities are conducted through multiple locations within south-central and western Kentucky.  Mr. Correll is Chief Executive Officer and Chairman of the Board of Directors of UTG and is currently UTG's largest shareholder through his ownership control of FSF, FSBI and affiliates.  At March 31, 2014, Mr. Correll owns or controls directly and indirectly approximately 56 % of UTG's outstanding stock.
	UTG's life insurance subsidiary, Universal Guaranty Life Insurance Company ("UG"), has several wholly-owned and majority-owned subsidiaries.  The subsidiaries were formed to hold certain real estate investments.  The real estate investments were placed into the limited liability companies and partnerships to provide additional protection to the policyholders and to UG.

NEW_ACCOUNTING_STANDARDS

NEW ACCOUNTING STANDARDS	3 Months Ended
	Mar. 31, 2014
NEW ACCOUNTING STANDARDS [Abstract]	'
NEW ACCOUNTING STANDARDS	'
	Note 2 – Recently Issued Accounting Standards
	Income Taxes – In July 2013, the Financial Accounting Standards Board ("FASB") issued guidance providing specific financial statement presentation requirements of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit in those circumstances should be presented as a reduction to the deferred tax asset.  This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted.  The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2014
INVESTMENTS [Abstract]	'
INVESTMENTS	'
	Note 3 – Investments
	Available for Sale Securities – Fixed Maturity and Equity Securities
	The Company's insurance subsidiary is regulated by insurance statutes and regulations as to the type of investments they are permitted to make, and the amount of funds that may be used for any one type of investment.
	Investments in available for sale securities are summarized as follows:
	31-Mar-14		Original or Amortized			Gross Unrealized Gains			Gross Unrealized Losses			Estimated
			Cost									Fair
												Value
	Investments available for sale:
	Fixed maturities
	U.S. Government and govt. agencies and authorities		$	32,967,799		$	3,197,556		$	(94,083	)	$	36,071,272
	States, municipalities and political subdivisions			105,000			513			0			105,513
	U.S. special revenue and assessments			1,703,755			83,382			(227,230	)		1,559,907
	Collateralized mortgage obligations			1,188,632			108,187			(14	)		1,296,805
	Public utilities			399,917			50,438			0			450,355
	All other corporate bonds			132,782,346			5,604,616			(1,959,663	)		136,427,299
				169,147,449			9,044,692			(2,280,990	)		175,911,151
	Equity securities			38,479,572			2,226,327			0			40,705,899
	Total		$	207,627,021		$	11,271,019		$	(2,280,990	)	$	216,617,050
	31-Dec-13		Original or Amortized			Gross Unrealized Gains			Gross Unrealized Losses			Estimated
			Cost									Fair
												Value
	Investments available for sale:
	Fixed maturities
	U.S. Government and govt. agencies and authorities		$	32,963,938		$	3,156,158		$	(107,550	)	$	36,012,546
	States, municipalities and political subdivisions			110,000			0			(924	)		109,076
	U.S. special revenue and assessments			2,152,892			95,763			(239,620	)		2,009,035
	Collateralized mortgage obligations			1,289,975			116,900			(13	)		1,406,862
	Public utilities			399,913			49,567			0			449,480
	All other corporate bonds			134,168,678			3,483,229			(3,229,082	)		134,422,825
				171,085,396			6,901,617			(3,577,189	)		174,409,824
	Equity securities			38,625,230			1,889,748			0			40,514,978
	Total		$	209,710,626		$	8,791,365		$	(3,577,189	)	$	214,924,802
	The amortized cost and estimated market value of debt securities at March 31, 2014, by contractual maturity, is shown below.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
	Fixed Maturities Available for Sale		Amortized			Estimated
	31-Mar-14		Cost			Fair Value
	Due in one year or less		$	1,324,432		$	1,369,862
	Due after one year through five years			25,476,209			27,068,104
	Due after five years through ten years			98,191,729			102,656,995
	Due after ten years			42,966,447			43,519,385
	Collateralized mortgage obligations			1,188,632			1,296,805
	Total		$	169,147,449		$	175,911,151
	The fair value of investments with sustained gross unrealized losses at March 31, 2014 and December 31, 2013 are as follows:
	31-Mar-14		Less than 12 months						12 months or longer						Total
			Fair value			Unrealized losses			Fair value			Unrealized losses			Fair value		Unrealized losses
	U.S. Government and govt. agencies and authorities		$	0			0		$	4,902,734			(94,083	)	$	4,902,734		(94,083	)
	U.S. Special Revenue and Assessments			760,090			(227,230	)		0			0			760,090		(227,230	)
	MBS/Collateralized mortgage obligations			1,884			(14	)		0			0			1,884		(14	)
	All other corporate bonds			20,790,667			(517,325	)		6,571,706			(1,442,338	)		27,362,373		(1,959,663	)
	Total fixed maturities		$	21,552,641			(744,569	)	$	11,474,440			(1,536,421	)	$	33,027,081		(2,280,990	)
	Equity securities		$	0			0		$	0			0		$	0		0
	31-Dec-13		Less than 12 months						12 months or longer						Total
			Fair value			Unrealized losses			Fair value			Unrealized losses			Fair value		Unrealized losses
	U.S. Government and govt. agencies and authorities		$	4,889,060			(107,550	)	$	0			0		$	4,889,060		(107,550	)
	States, municipalities and political subdivisions			109,076			(924	)		0			0			109,076		(924	)
	U.S. special revenue and assessments			747,700			(239,620	)		0			0			747,700		(239,620	)
	Collateralized mortgage obligations			1,922			(13	)		0			0			1,922		(13	)
	All other corporate bonds			49,430,637			(1,481,562	)		7,318,832			(1,747,520	)		56,749,469		(3,229,082	)
	Total fixed maturities		$	55,178,395			(1,829,669	)	$	7,318,832			(1,747,520	)	$	62,497,227		(3,577,189	)
	Equity securities		$	0			0		$	0			0		$	0		0
	Additional information regarding investments in an unrealized loss position is as follows:
		Less than 12 months		12 months or longer	Total
	As of March 31, 2014
	Fixed maturities	13		7	20
Equity securities	0		0	0
As of December 31, 2013
Fixed maturities	30		5	35
Equity securities	0		0	0
Substantially all of the unrealized losses on fixed maturities available for sale at March 31, 2014 and December 31, 2013 are attributable to changes in market interest rates and general disruptions in the credit market subsequent to purchase.  The Company does not currently intend to sell nor does it expect to be required to sell any of the securities in an unrealized loss position.  Based upon the Company's expected continuation of receipt of contractually required principal and interest payments and its intent and ability to retain the securities until price recovery, as well as the Company's evaluation of other relevant factors, the Company deems these securities to be temporarily impaired as of March 31, 2014 and December 31, 2013.
The Company regularly reviews its investment securities for factors that may indicate that a decline in fair value of an investment is other than temporary.  The factors considered by management in its regular review to identify and recognize other-than-temporary impairment losses on fixed maturities include, but are not limited to: the length of time and extent to which the fair value has been less than cost; the Company's intent to sell, or be required to sell, the debt security before the anticipated recovery of its remaining amortized cost basis; the financial condition and near-term prospects of the issuer; adverse changes in ratings announced by one or more rating agencies; subordinated credit support, whether the issuer of a debt security has remained current on principal and interest payments; current expected cash flows; whether the decline in fair value appears to be issuer specific or, alternatively, a reflection of general market or industry conditions, including the effect of changes in market interest rates.  If the Company intends to sell a debt security, or it is more likely than not that it would be required to sell a debt security before the recovery of its amortized cost basis, the entire difference between the security's amortized cost basis and its fair value at the balance sheet date would be recognized by a charge to other-than-temporary losses in the Condensed Consolidated Statements of Operations.
Equity securities may experience other-than-temporary impairments in the future based on the prospects for full recovery in value in a reasonable period of time and the Company's ability and intent to hold the security to recovery.  If a decline in fair value is judged by management to be other-than-temporary or management does not have the intent or ability to hold a security, a loss is recognized by a charge to other-than-temporary impairment losses in the Condensed Consolidated Statements of Operations.
Based on management's review of the investment portfolio, the Company recorded the following losses for other-than-temporary impairments in the Condensed Consolidated Statements of Operations:
		Three Months Ended
		March 31,
		2014			2013
Other than temporary impairments:
Real estate		$	0		$	26,926
The other-than-temporary impairment recognized during 2013 was due to Management's assessment of the value of the real estate. The real estate was written down to better reflect current expected market value.
Trading Securities
Securities designated as trading securities are reported at fair value, with gains or losses resulting from changes in fair value recognized in net investment income on the Condensed Consolidated Statements of Operations.  Trading securities include exchange-traded equities and exchange-traded options.  Trading securities carried as liabilities are securities sold short. A gain, limited to the price at which the security was sold short, or a loss, potentially unlimited in size, will be recognized upon the termination of the short sale.  The fair value of derivatives included in trading security assets and trading security liabilities as of March 31, 2014 was $124,000 and $(149,956), respectively. The fair value of derivatives included in trading security assets and trading security liabilities as of December 31, 2013 was $194,000 and $(353,907), respectively.  Earnings from trading securities are classified in cash flows from operating activities. The derivatives held by the Company are for income generation purposes only.
Trading revenue charged to net investment income from trading securities was:
		Three Months Ended
		March 31,
		2014			2013
Net unrealized gains (losses)		$	260,651		$	(297,344	)
Net realized gains (losses)			21,173			86,271
Net unrealized and realized gains (losses)		$	281,824		$	(211,073	)
Mortgage Loans
As of March 31, 2014 and December 31, 2013, the Company's mortgage loan portfolio contained 36 and 39 mortgage loans, including discounted mortgage loans, with a carrying value of $25,355,268 and $27,285,269, respectively.
Changes in the current economy could have a negative impact on the loans, including the financial stability of the borrowers, the borrowers' ability to pay or to refinance, the value of the property held as collateral and the ability to find purchasers at favorable prices.  Given the uncertainty of the current market, management has taken a conservative approach with the discounted mortgage loans and has classified all discounted mortgage loans held as non-accrual.  In such status, the Company is not recording any accrued interest income nor is it recording any accrual of discount on the loans held.  Discount accruals reported during 2014 and 2013 were the result of the loan basis already being fully paid.
On the remainder of the mortgage loan portfolio, interest accruals are analyzed based on the likelihood of repayment.  In no event will interest continue to accrue when accrued interest along with the outstanding principal exceeds the net realizable value of the property.  The Company does not utilize a specified number of days delinquent to cause an automatic non-accrual status.
A mortgage loan reserve is established and adjusted based on management's quarterly analysis of the portfolio and any deterioration in value of the underlying property which would reduce the net realizable value of the property below its current carrying value.  The Company acquires the discounted mortgage loans at below contract value, and believes that it will fully recover its carrying value upon disposal, therefore no reserve for delinquent loans is deemed necessary.  Those loans not currently paying are being vigorously worked by management.  The current discounted commercial mortgage loan portfolio has an average price of 33.1 % of face value and management has determined that this deep discount provides a financial cushion or built in allowance for any of the loans that are not currently performing within the portfolio of loans purchased.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2014
FAIR VALUE MEASUREMENTS [Abstract]	'
FAIR VALUE MEASUREMENTS	'
	Note 4 – Fair Value Measurements
	The Company measures its assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheets based on the framework set forth in the GAAP fair value accounting guidance.  The framework establishes a fair value hierarchy of three levels based upon the transparency of information used in measuring the fair value of assets or liabilities as of the measurement date.  The fair value hierarchy prioritizes the inputs in the valuation techniques used to measure fair value into three categories.
	Level 1 – Valuation is based upon quoted prices for identical assets or liabilities in active markets that the Company is able to access.  Level 1 fair value is not subject to valuation adjustments.
	Level 2 – Valuation is based upon quoted prices for similar assets and liabilities in active markets or quoted prices for identical or similar instruments in markets that are not active. In addition, the Company may use various valuation techniques or pricing models that use observable inputs to measure fair value.
	Level 3 – Valuation is based upon unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Unobservable inputs reflect the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability.
	The Company determines the existence of an active market for an asset or liability based on its judgment as to whether transactions for the asset or liability occur in such market with sufficient frequency and volume to provide reliable pricing information.  If the Company concludes that there has been a significant decrease in the volume and level of activity for an investment in relation to normal market activity for such investment, adjustments to transactions and quoted prices are made to estimate fair value.
	The inputs used in the valuation techniques employed by the Company are provided by nationally recognized pricing services, external investment managers and internal resources.  To assess these inputs, the Company's review process includes, but is not limited to, quantitative analysis including benchmarking, initial and ongoing evaluations of methodologies used by external parties to calculate fair value, and ongoing evaluations of fair value estimates based on the Company's knowledge and monitoring of market conditions.
	The Company periodically reviews the pricing service provider's policies and procedures for valuing securities.  The assumptions underlying the valuations from external service providers, including unobservable inputs, are generally not readily available as this information is often deemed proprietary.  Accordingly, the Company is unable to obtain comprehensive information regarding these assumptions and methodologies.
	The Company's investments in fixed maturity securities available for sale, equity securities available for sale and trading securities assets and liabilities are carried at fair value.  The following are the Company's methodologies and valuation techniques for assets and liabilities measured at fair value.
	Fixed maturities available for sale mainly consist of U.S. treasury securities and corporate debt securities. The Company employs a market approach to the valuation of securities where there are sufficient market transactions involving identical or comparable assets. If sufficient market data is not available for identical or comparable assets, the Company uses an income approach to valuation. The majority of the financial instruments included in fixed maturity securities available for sale are evaluated utilizing observable inputs; accordingly, they are categorized in either Level 1 or Level 2 of the fair value hierarchy. However, in instances where significant inputs utilized in valuation of the securities are unobservable, the securities are categorized in Level 3 of the fair value hierarchy.
	Corporate securities primarily include fixed rate corporate bonds. Inputs utilized in connection with the Company's valuation techniques relating to this class of securities include recently executed transactions, market price quotations, benchmark yields and issuer spreads. Corporate securities are categorized in Level 2 of the fair value hierarchy.
	U.S. treasury securities are based on quoted prices in active markets and are generally categorized in Level 1 of the fair value hierarchy.
	Equity securities available for sale consist of common and preferred stocks mainly in private equity investments, financial institutions and insurance companies. Equity securities for which there is sufficient market data are categorized as Level 1 or 2 in the fair value hierarchy.  For the equity securities in which quoted market prices are not available, the transaction price is used as the best estimate of fair value at inception.  When evidence is believed to support a change to the carrying value from the transaction price, adjustments are made to reflect the expected exit values. The Company performs ongoing reviews of the underlying investments. The reviews consist of the evaluations of expected cash flows, material events and market data. These investments are included in Level 3 of the fair value hierarchy.
	Securities designated as trading securities consist of exchange traded equities and exchange traded options.  These securities are primarily valued at quoted active market prices, and are therefore categorized as Level 1 in the fair value hierarchy.
	The following table presents the Company's assets and liabilities measured at fair value in the Condensed Consolidated Balance Sheet on a recurring basis as of March 31, 2014.
		Level 1			Level 2		Level 3			Total
	Assets
	Fixed Maturities, available for sale	$	19,384,352		$	156,225,114	$	301,685		$	175,911,151
	Equity Securities, available for sale		1,669,042			6,764,208		32,272,649			40,705,899
	Trading Securities		7,206,667			0		0			7,206,667
	Total	$	28,260,061		$	162,989,322	$	32,574,334		$	223,823,717
	Liabilities
	Trading Securities	$	153,615		$	0	$	0		$	153,615
		Level 1			Level 2		Level 3			Total
	Assets
	Fixed Maturities, available for sale	$	19,407,301		$	154,688,710	$	313,813		$	174,409,824
	Equity Securities, available for sale		1,643,803			6,774,589		32,096,586			40,514,978
	Trading Securities		6,614,111			0		0			6,614,111
	Total	$	27,665,215		$	161,463,299	$	32,410,399		$	221,538,913
	Liabilities
	Trading Securities	$	357,439		$	0	$	0		$	357,439
	The following table provides reconciliations for Level 3 assets measured at fair value on a recurring basis. Transfers into and out of Level 3 are recognized as of the end of the quarter in which they occur.
		Fixed Maturities,			Equity Securities,		Total
		Available for Sale			Available for Sale
	Balance at December 31, 2013	$	313,813		$	32,096,586	$	32,410,399
	Total unrealized gains or (losses):
	Included in realized gains/(losses)		82,287			0		82,287
	Included in other comprehensive income		53,128			176,063		229,191
	Sales		(147,543	)		0		(147,543	)
	Balance at March 31, 2014	$	301,685		$	32,272,649	$	32,574,334
	The Level 3 securities include collateralized debt obligations of trust preferred securities issued by banks and insurance companies and certain equity securities with unobservable inputs.  The Company computed fair value of Level 3 investments based on a review of current financial information, earnings trends and similar companies in the same industries.
	Certain assets are not carried at fair value on a recurring basis, including investments such as mortgage loans and policy loans. Accordingly such investments are only included in the fair value hierarchy disclosure when the investment is subject to re-measurement at fair value after initial recognition and the resulting re-measurement is reflected in the Condensed Consolidated Financial Statements.
	The carrying values and estimated fair values of certain of the Company's financial instruments not recorded at fair value in the Condensed Consolidated Balance Sheets are shown below. Because the fair value for all Condensed Consolidated Balance Sheet items are not required to be disclosed, the aggregate fair value amounts presented below are not reflective of the underlying value of the Company.
		31-Mar-14					31-Dec-13
		Carrying			Estimated		Carrying			Estimated
		Amount			Fair		Amount			Fair
	Assets				Value					Value
	Mortgage loans on real estate	$	13,935,687		$	14,171,392	$	14,454,534		$	14,734,756
	Discounted mortgage loans		11,419,518			11,419,581		12,830,735			12,830,735
	Investment real estate		83,937,511			83,937,511		83,585,359			83,585,359
	Policy loans		11,638,101			11,638,101		11,860,960			11,860,960
	Cash and cash equivalents		18,515,389			18,515,389		19,838,618			19,838,618
	Short term investments		184,800			184,800		0			0
	Liabilities
	Notes payable		19,097,534			19,097,534		19,097,534			19,097,534
	The above estimated fair value amounts have been determined based upon the following valuation methodologies. Considerable judgment was required to interpret market data in order to develop these estimates. Accordingly, the estimates are not necessarily indicative of the amounts which could be realized in a current market exchange.  The use of different market assumptions or estimation methodologies may have a material effect on the fair value amounts.
	The fair values of mortgage loans on real estate are estimated using discounted cash flow analyses and interest rates being offered for similar loans to borrowers with similar credit ratings.  The inputs used to measure the fair value of our mortgage loans on real estate are classified as Level 3 within the fair value hierarchy.
	The Company has been purchasing non-performing discounted mortgage loans at a deep discount through an auction process led by the federal government.  In general, the discounted loans are non-performing and there is a significant amount of uncertainty surrounding the timing and amount of cash flows to be received by the Company.  Accordingly, the Company records its investment in the discounted loans at its original purchase price, which management believes approximates fair value.  The inputs used to measure the fair value of our discounted mortgage loans are classified as Level 3 within the fair value hierarchy.
	Investment real estate is recorded at the lower of the net investment in the real estate or the fair value of the real estate less costs to sell.  The determination of fair value assessments are performed on a periodic, non-recurring basis by external appraisal and assessment of property values by management.  The inputs used to measure the fair value of our investment real estate are classified as Level 3 within the fair value hierarchy.
	Policy loans are carried at the aggregate unpaid principal balances in the consolidated balance sheets which approximate fair value, and earn interest at rates ranging from  4 % to 8 %.  Individual policy liabilities in all cases equal or exceed outstanding policy loan balances.  The inputs used to measure the fair value of our policy loans are classified as Level 3 within the fair value hierarchy.
	The carrying amount of cash and cash equivalents in the financial statements approximates fair value given the highly liquid nature of the instruments.  The inputs used to measure the fair value of our cash and cash equivalents are classified as Level 1 within the fair value hierarchy.
	The carrying amount of short term investments in the financial statements approximates fair value.  The inputs used to measure the fair value of our short term investments are classified as Level 3 within the fair value hierarchy.
	The carrying value is a reasonable estimate of fair value for notes payable subject to floating rates of interest.  The fair value of notes payable with fixed rate borrowings is determined based on the borrowing rates currently available to the Company for loans with similar terms and average maturities.  The inputs used to measure the fair value of our notes payable are classified as Level 2 within the fair value hierarchy.

CREDIT_ARRANGEMENTS

CREDIT ARRANGEMENTS	3 Months Ended
	Mar. 31, 2014
NOTES PAYABLE [Abstract]	'
CREDIT ARRANGEMENTS	'
	Note 5 – Credit Arrangements
	At March 31, 2014 and December 31, 2013, the Company had the following outstanding debt:
						Outstanding Principal Balance
	Instrument	Issue Date		Maturity Date		31-Mar-14		31-Dec-13
	Promissory Note:
	HPG Acquisitions		12/27/12		3/4/18		12,000,000		12,000,000
	Instrument	Issue Date		Maturity Date		Revolving Credit Limit		31-Dec-13		Borrowings		Repayments		31-Mar-14
	Lines of Credit:
	UTG		11/20/13		11/20/14	$	8,000,000	$	2,097,534		0		1,655,035	$	2,097,534
	UTG Avalon		3/28/13		3/28/15		5,000,000		5,000,000		0		0		5,000,000
	UG		12/28/10		12/5/14		15,000,000		0		0		0		0
	The HPG Acquisitions promissory note issued on December 27, 2012 is secured by real estate owned by HPG. The promissory note bears interest at a fixed rate of 4%. Interest is payable monthly. Principal is payable monthly beginning in the third year of the note.
	The UTG line of credit carries interest at a fixed rate of  3.75% and is payable monthly. As collateral, UTG has pledged 100% of the common voting stock of its wholly owned subsidiary, Universal Guaranty Life Insurance Company ("UG"). .In April 2014, the Company repaid $900,000 in principal on this line of credit.
	The UTG Avalon line of credit issued on March 28, 2013 currently carries interest at a rate of 4.0% with monthly interest payments. The interest rate is a variable rate that will be 0.50% above the lowest of the U.S. Prime Rates as published in the money section of the Wall Street Journal with a floor rate of 4%. The interest rate is subject to change monthly and changes in the interest rate will take effect on the first day of the month following the rate change. This line of credit was renewed on March 28, 2014.
	UG is a member of the Federal Home Loan Bank ("FHLB").  This membership allows the Company access to additional credit up to a maximum of 50% of the total assets of UG.  To be a member of the FHLB, the Company was required to purchase shares of common stock of FHLB.  Borrowing capacity is based on 50 times each dollar of stock acquired in FHLB above the "base membership" amount.
	The consolidated scheduled principal reductions on the notes payable for the next five years are as follows:
	Year	Amount
	2014	$	2,097,534
	2015		5,345,459
	2016		478,193
	2017		499,278
	2018		10,677,070

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2014
CAPITAL STOCK TRANSACTIONS [Abstract]	'
CAPITAL STOCK TRANSACTIONS	'
	Stock Repurchase Programs
	The Board of Directors of UTG authorized the repurchase in the open market or in privately negotiated transactions of up to $6 million of UTG's common stock. Repurchased shares are available for future issuance for general corporate purposes.  This program can be terminated at any time.  Open market purchases are made based on the last available market price and are generally limited to a maximum per share price of the most recent reported per share GAAP equity book value of the Company.  During the three month period ended March 31, 2014, the Company repurchased 6,632 shares through the stock repurchase program for $78,003.  Through March 31, 2014, UTG has spent $5.0 million in the acquisition of 595,158 shares under this program.
	Earnings Per Share Calculations
	Earnings per share are based on the weighted average number of common shares outstanding during each period.  At March 31, 2014 and 2013, diluted earnings per share were the same as basic earnings per share since the Company had no dilutive instruments outstanding.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2014
COMMITMENTS AND CONTINGENCIES [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	Note 7 – Commitments and Contingencies
	The insurance industry has experienced a number of civil jury verdicts which have been returned against life and health insurers in the jurisdictions in which the Company does business involving the insurers' sales practices, alleged agent misconduct, failure to properly supervise agents, and other matters.  Some of the lawsuits have resulted in the award of substantial judgments against the insurer, including material amounts of punitive damages.  In some states, juries have substantial discretion in awarding punitive damages in these circumstances.  In the normal course of business, the Company is involved from time to time in various legal actions and other state and federal proceedings.  Management is of the opinion that the ultimate disposition of the matters will not have a materially adverse effect on the Company's results of operations or financial position.
	Under the insurance guaranty fund laws in most states, insurance companies doing business in a participating state can be assessed up to prescribed limits for policyholder losses incurred by insolvent or failed insurance companies.  Although the Company cannot predict the amount of any future assessments, most insurance guaranty fund laws currently provide that an assessment may be excused or deferred if it would threaten an insurer's financial strength.  Mandatory assessments may be partially recovered through a reduction in future premium tax in some states. The Company does not believe such assessments will be materially different from amounts already provided for in the financial statements, though the Company has no control over such assessments.
	Within the Company's trading accounts, certain trading securities carried as liabilities represent securities sold short.  A gain, limited to the price at which the security was sold short, or a loss, potentially unlimited in size, will be recognized upon the termination of the short sale.
	The following table represents the total funding commitments and the unfunded commitment as of March 31, 2014 related to certain investments:
		Total Funding		Unfunded
		Commitment		Commitment
	RLF III, LLC	$	4,000,000	$	398,120
	Llano Music, LLC		4,000,000		517,000
	Marcellus HBPI, LLP		1,800,000		141,300
	PBEX, LLC		5,600,000		2,818,750
	Sovereign's Capital, LP		500,000		250,000
	MM-Appalachia IV, LP		2,475,000		1,056,000
	During 2006, the Company committed to invest in RLF III, LLC ("RLF"), which makes land-based investment in undervalued assets. RLF makes capital calls as funds are needed for continued land purchases.
	During 2010, the Company made a commitment to invest in Llano Music, LLC ("Llano"), which invests in music royalties. Llano makes capital calls to its investors as funds are needed to acquire the royalty rights.  During 2014, the commitment amount increased by $2 million.
	During 2012, the Company committed to invest in Marcellus HBPI, LLP, which purchases land for leasing opportunities to those looking to harvest natural resources. Marcellus HPBI, LLP makes capital calls to investors as funds are needed for continued land purchases.
	During 2012, the Company committed to invest in PBEX, LLC, which purchases land for leasing opportunities to those looking to harvest natural resources. PBEX, LLC makes capital calls to investors as funds are needed for continued land purchases.
	During 2012, the Company committed to invest in Sovereign's Capital, LP ("Sovereign's"), which invests in companies in emerging markets. Sovereign's makes capital calls to investors as funds are needed.
	During 2013, the Company committed to invest in MM-Appalachia IV, LP, which purchases land for leasing opportunities to those looking to harvest natural resources. MM-Appalachia IV, LP makes capital calls to investors as funds are needed for continued land purchases.

OTHER_CASH_FLOW_DISCLOSURES

OTHER CASH FLOW DISCLOSURES	3 Months Ended
	Mar. 31, 2014
OTHER CASH FLOW DISCLOSURES [Abstract]	'
OTHER CASH FLOW DISCLOSURES	'
	Note 8 – Other Cash Flow Disclosures
	On a cash basis, the Company paid the following expenses:
		Three Months Ended
		March 31,
		2014		2013
	Interest expense	$	19,672	$	16,398
	Federal income tax		0		2,050,000
	During the first quarter of 2013 and 2014, UG's wholly-owned subsidiary, UTG Avalon, LLC, entered into a noncash transaction whereby the subsidiary obtained a new line of credit in the amount of $5 million and utilized the line of credit to repay the prior line of credit. The terms of the new line of credit are consistent with the terms of the prior line of credit.
	During the first quarter of 2014, the Company sold a block of life insurance business.  As a result of this transaction, the Company transferred approximately $3,100,000.0 million in cash to purchaser.  The transaction also resulted in a reduction of approximately $3.7 million of future policyholder benefits and approximately $600,000 of cost of insurance acquired.

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2014
CONCENTRATIONS [Abstract]	'
CONCENTRATIONS	'
	Note 9 – Concentrations of Credit Risk
	The Company maintains cash balances in financial institutions that at times may exceed federally insured limits.  The Company maintains its primary operating cash accounts with First Southern National Bank, an affiliate of the largest shareholder of UTG, Mr. Jesse Correll, the Company's CEO and Chairman.  The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.

NEW_ACCOUNTING_STANDARDS_Polic

NEW ACCOUNTING STANDARDS (Policies)	3 Months Ended
	Mar. 31, 2014
NEW ACCOUNTING STANDARDS [Abstract]	'
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Note 2 – Recently Issued Accounting Standards
	Income Taxes – In July 2013, the Financial Accounting Standards Board ("FASB") issued guidance providing specific financial statement presentation requirements of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit in those circumstances should be presented as a reduction to the deferred tax asset.  This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted.  The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements.

INVESTMENTS_Tables

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2014
INVESTMENTS [Abstract]	'
Amortized cost and estimated values of investments in securities including investments held for sale	'
	Investments in available for sale securities are summarized as follows:
	31-Mar-14		Original or Amortized			Gross Unrealized Gains			Gross Unrealized Losses			Estimated
			Cost									Fair
												Value
	Investments available for sale:
	Fixed maturities
	U.S. Government and govt. agencies and authorities		$	32,967,799		$	3,197,556		$	(94,083	)	$	36,071,272
	States, municipalities and political subdivisions			105,000			513			0			105,513
	U.S. special revenue and assessments			1,703,755			83,382			(227,230	)		1,559,907
	Collateralized mortgage obligations			1,188,632			108,187			(14	)		1,296,805
	Public utilities			399,917			50,438			0			450,355
	All other corporate bonds			132,782,346			5,604,616			(1,959,663	)		136,427,299
				169,147,449			9,044,692			(2,280,990	)		175,911,151
	Equity securities			38,479,572			2,226,327			0			40,705,899
	Total		$	207,627,021		$	11,271,019		$	(2,280,990	)	$	216,617,050
	31-Dec-13		Original or Amortized			Gross Unrealized Gains			Gross Unrealized Losses			Estimated
			Cost									Fair
												Value
	Investments available for sale:
	Fixed maturities
	U.S. Government and govt. agencies and authorities		$	32,963,938		$	3,156,158		$	(107,550	)	$	36,012,546
	States, municipalities and political subdivisions			110,000			0			(924	)		109,076
	U.S. special revenue and assessments			2,152,892			95,763			(239,620	)		2,009,035
	Collateralized mortgage obligations			1,289,975			116,900			(13	)		1,406,862
	Public utilities			399,913			49,567			0			449,480
	All other corporate bonds			134,168,678			3,483,229			(3,229,082	)		134,422,825
				171,085,396			6,901,617			(3,577,189	)		174,409,824
	Equity securities			38,625,230			1,889,748			0			40,514,978
	Total		$	209,710,626		$	8,791,365		$	(3,577,189	)	$	214,924,802
Amortized cost and estimated market value of debt securities, by contractual maturity	'
	The amortized cost and estimated market value of debt securities at March 31, 2014, by contractual maturity, is shown below.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
	Fixed Maturities Available for Sale		Amortized			Estimated
	31-Mar-14		Cost			Fair Value
	Due in one year or less		$	1,324,432		$	1,369,862
	Due after one year through five years			25,476,209			27,068,104
	Due after five years through ten years			98,191,729			102,656,995
	Due after ten years			42,966,447			43,519,385
	Collateralized mortgage obligations			1,188,632			1,296,805
	Total		$	169,147,449		$	175,911,151
Fair value of investments with sustained gross unrealized losses	'
	The fair value of investments with sustained gross unrealized losses at March 31, 2014 and December 31, 2013 are as follows:
	31-Mar-14		Less than 12 months						12 months or longer						Total
			Fair value			Unrealized losses			Fair value			Unrealized losses			Fair value		Unrealized losses
	U.S. Government and govt. agencies and authorities		$	0			0		$	4,902,734			(94,083	)	$	4,902,734		(94,083	)
	U.S. Special Revenue and Assessments			760,090			(227,230	)		0			0			760,090		(227,230	)
	MBS/Collateralized mortgage obligations			1,884			(14	)		0			0			1,884		(14	)
	All other corporate bonds			20,790,667			(517,325	)		6,571,706			(1,442,338	)		27,362,373		(1,959,663	)
	Total fixed maturities		$	21,552,641			(744,569	)	$	11,474,440			(1,536,421	)	$	33,027,081		(2,280,990	)
	Equity securities		$	0			0		$	0			0		$	0		0
	31-Dec-13		Less than 12 months						12 months or longer						Total
			Fair value			Unrealized losses			Fair value			Unrealized losses			Fair value		Unrealized losses
	U.S. Government and govt. agencies and authorities		$	4,889,060			(107,550	)	$	0			0		$	4,889,060		(107,550	)
	States, municipalities and political subdivisions			109,076			(924	)		0			0			109,076		(924	)
	U.S. special revenue and assessments			747,700			(239,620	)		0			0			747,700		(239,620	)
	Collateralized mortgage obligations			1,922			(13	)		0			0			1,922		(13	)
	All other corporate bonds			49,430,637			(1,481,562	)		7,318,832			(1,747,520	)		56,749,469		(3,229,082	)
	Total fixed maturities		$	55,178,395			(1,829,669	)	$	7,318,832			(1,747,520	)	$	62,497,227		(3,577,189	)
	Equity securities		$	0			0		$	0			0		$	0		0
	Additional information regarding investments in an unrealized loss position is as follows:
		Less than 12 months		12 months or longer	Total
	As of March 31, 2014
	Fixed maturities	13		7	20
	Equity securities	0		0	0
	As of December 31, 2013
	Fixed maturities	30		5	35
	Equity securities	0		0	0
Other than temporary impairments	'
	Based on management's review of the investment portfolio, the Company recorded the following losses for other-than-temporary impairments in the Condensed Consolidated Statements of Operations:
			Three Months Ended
			March 31,
			2014			2013
	Other than temporary impairments:
	Real estate		$	0		$	26,926
Trading revenue charged to investment	'
	Trading revenue charged to net investment income from trading securities was:
			Three Months Ended
			March 31,
			2014			2013
	Net unrealized gains (losses)		$	260,651		$	(297,344	)
	Net realized gains (losses)			21,173			86,271
	Net unrealized and realized gains (losses)		$	281,824		$	(211,073	)

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2014
FAIR VALUE MEASUREMENTS [Abstract]	'
Financial assets and liabilities measured on recurring basis	'
	The following table presents the Company's assets and liabilities measured at fair value in the Condensed Consolidated Balance Sheet on a recurring basis as of March 31, 2014.
		Level 1			Level 2		Level 3			Total
	Assets
	Fixed Maturities, available for sale	$	19,384,352		$	156,225,114	$	301,685		$	175,911,151
	Equity Securities, available for sale		1,669,042			6,764,208		32,272,649			40,705,899
	Trading Securities		7,206,667			0		0			7,206,667
	Total	$	28,260,061		$	162,989,322	$	32,574,334		$	223,823,717
	Liabilities
	Trading Securities	$	153,615		$	0	$	0		$	153,615
		Level 1			Level 2		Level 3			Total
	Assets
	Fixed Maturities, available for sale	$	19,407,301		$	154,688,710	$	313,813		$	174,409,824
	Equity Securities, available for sale		1,643,803			6,774,589		32,096,586			40,514,978
	Trading Securities		6,614,111			0		0			6,614,111
	Total	$	27,665,215		$	161,463,299	$	32,410,399		$	221,538,913
	Liabilities
	Trading Securities	$	357,439		$	0	$	0		$	357,439
	The following table provides reconciliations for Level 3 assets measured at fair value on a recurring basis. Transfers into and out of Level 3 are recognized as of the end of the quarter in which they occur.
		Fixed Maturities,			Equity Securities,		Total
		Available for Sale			Available for Sale
	Balance at December 31, 2013	$	313,813		$	32,096,586	$	32,410,399
	Total unrealized gains or (losses):
	Included in realized gains/(losses)		82,287			0		82,287
	Included in other comprehensive income		53,128			176,063		229,191
	Sales		(147,543	)		0		(147,543	)
	Balance at March 31, 2014	$	301,685		$	32,272,649	$	32,574,334
Estimated fair value of financial instruments required to be valued by ASC 820	'
	The carrying values and estimated fair values of certain of the Company's financial instruments not recorded at fair value in the Condensed Consolidated Balance Sheets are shown below. Because the fair value for all Condensed Consolidated Balance Sheet items are not required to be disclosed, the aggregate fair value amounts presented below are not reflective of the underlying value of the Company.
		31-Mar-14					31-Dec-13
		Carrying			Estimated		Carrying			Estimated
		Amount			Fair		Amount			Fair
	Assets				Value					Value
	Mortgage loans on real estate	$	13,935,687		$	14,171,392	$	14,454,534		$	14,734,756
	Discounted mortgage loans		11,419,518			11,419,581		12,830,735			12,830,735
	Investment real estate		83,937,511			83,937,511		83,585,359			83,585,359
	Policy loans		11,638,101			11,638,101		11,860,960			11,860,960
	Cash and cash equivalents		18,515,389			18,515,389		19,838,618			19,838,618
	Short term investments		184,800			184,800		0			0
	Liabilities
	Notes payable		19,097,534			19,097,534		19,097,534			19,097,534

CREDIT_ARRANGEMENTS_Tables

CREDIT ARRANGEMENTS (Tables)	3 Months Ended
	Mar. 31, 2014
NOTES PAYABLE [Abstract]	'
Schedule of promissory note	'
	At March 31, 2014 and December 31, 2013, the Company had the following outstanding debt:
						Outstanding Principal Balance
	Instrument	Issue Date		Maturity Date		31-Mar-14		31-Dec-13
	Promissory Note:
	HPG Acquisitions		12/27/12		3/4/18		12,000,000		12,000,000
Schedule of lines of credit	'
	Instrument	Issue Date		Maturity Date		Revolving Credit Limit		31-Dec-13		Borrowings		Repayments		31-Mar-14
	Lines of Credit:
	UTG		11/20/13		11/20/14	$	8,000,000	$	2,097,534		0		1,655,035	$	2,097,534
	UTG Avalon		3/28/13		3/28/15		5,000,000		5,000,000		0		0		5,000,000
	UG		12/28/10		12/5/14		15,000,000		0		0		0		0
Scheduled principal reduction on notes payable for the next five years	'
	The consolidated scheduled principal reductions on the notes payable for the next five years are as follows:
	Year	Amount
	2014	$	2,097,534
	2015		5,345,459
	2016		478,193
	2017		499,278
	2018		10,677,070

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2014
COMMITMENTS AND CONTINGENCIES [Abstract]	'
Funding commitment and unfunded commitment	'
	The following table represents the total funding commitments and the unfunded commitment as of March 31, 2014 related to certain investments:
		Total Funding		Unfunded
		Commitment		Commitment
	RLF III, LLC	$	4,000,000	$	398,120
	Llano Music, LLC		4,000,000		517,000
	Marcellus HBPI, LLP		1,800,000		141,300
	PBEX, LLC		5,600,000		2,818,750
	Sovereign's Capital, LP		500,000		250,000
	MM-Appalachia IV, LP		2,475,000		1,056,000

OTHER_CASH_FLOW_DISCLOSURES_Ta

OTHER CASH FLOW DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2014
OTHER CASH FLOW DISCLOSURES [Abstract]	'
Expenses paid on a cash basis	'
	On a cash basis, the Company paid the following expenses:
		Three Months Ended
		March 31,
		2014		2013
	Interest expense	$	19,672	$	16,398
	Federal income tax		0		2,050,000

BASIS_OF_PRESENTATION_Details

BASIS OF PRESENTATION (Details)	3 Months Ended
	Mar. 31, 2014
Subsidiary or Equity Method Investee [Line Items]	'
Ownership in subsidiary bank (in hundredths)	100.00%
Related Party Disclosure [Line Items]	'
Ownership or control of outstanding common stock directly or indirectly (in hundredths)	56.33%

INVESTMENTS_Details

INVESTMENTS (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Loans		Loans
Amortized cost and estimated value of debt securities, by contractual maturity [Abstract]	'	'	'
Due in one year or less	$1,369,862	'	'
Due after one year through five years	27,068,104	'	'
Due after five years through ten years	102,656,995	'	'
Due after ten years	43,519,385	'	'
Collateralized mortgage obligations	1,296,805	'	'
Total	175,911,151	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	207,627,021	'	209,710,626
Gross Unrealized Gains	11,271,019	8,791,365	'
Gross Unrealized Losses	-2,280,990	-3,577,189	'
Estimated Market Value	216,617,050	'	214,924,802
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'	'
Twelve months or longer, Fair value	'	'	0
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities [Abstract]	'	'	'
Other than temporary impairment losses, investments, available-for-sale securities	0	26,926	'
Amortized cost and estimated market value of debt securities, by contractual maturity [Abstract]	'	'	'
Due in one year or less	1,324,432	'	'
Due after one year through five years	25,476,209	'	'
Due after five years through ten years	98,191,729	'	'
Due after ten years	42,966,447	'	'
Collateralized mortgage obligation	1,188,632	'	'
Total	169,147,449	'	'
Trading Securities [Abstract]	'	'	'
Fair value, derivatives included in trading security assets	124,000	'	194,000
Fair value, derivative included in trading security liabilities	-149,956	'	-353,907
Trading securities, net unrealized gain (loss)	260,651	-297,344	'
Trading securities, realized gain (loss)	21,173	86,271	'
Increase (Decrease) in Trading Securities [Abstract]	'	'	'
Net Realized and Unrealized Gain (Loss) on Trading Securities	281,824	-211,073	'
Mortgages [Abstract]	'	'	'
Number of Mortgage Loans including Discounted Mortgage Loans	36	'	39
Mortgage Loans including Discounted Mortgage Loans	25,355,268	'	27,285,269
Mortgage loans reserve	'	'	0
Average purchase price to outstanding loan (in hundredths)	33.10%	'	'
U.S. Government and Government Agencies and Authorities [Member]	'	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	32,967,799	'	32,963,938
Gross Unrealized Gains	3,197,556	3,156,158	'
Gross Unrealized Losses	-94,083	-107,550	'
Estimated Market Value	36,071,272	'	36,012,546
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'	'
Less than 12 months, Fair value	0	'	4,889,060
Less than 12 months, Unrealized losses	0	-107,550	'
Twelve months or longer, Fair value	4,902,734	'	'
Twelve months or longer, Unrealized losses	-94,083	0	'
Total Fair value	4,902,734	'	4,889,060
Total Unrealized losses	-94,083	-107,550	'
US Special Revenue and Assessments [Member]	'	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	1,703,755	'	2,152,892
Gross Unrealized Gains	83,382	95,763	'
Gross Unrealized Losses	-227,230	-239,620	'
Estimated Market Value	1,559,907	'	2,009,035
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'	'
Less than 12 months, Fair value	760,090	'	747,700
Less than 12 months, Unrealized losses	-227,230	-239,620	'
Twelve months or longer, Fair value	0	'	'
Twelve months or longer, Unrealized losses	0	0	'
Total Fair value	760,090	'	747,700
Total Unrealized losses	-227,230	-239,620	'
States, Municipalities and Political Subdivisions [Member]	'	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	105,000	'	110,000
Gross Unrealized Gains	513	0	'
Gross Unrealized Losses	0	-924	'
Estimated Market Value	105,513	'	109,076
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'	'
Less than 12 months, Fair value	'	'	109,076
Less than 12 months, Unrealized losses	'	-924	'
Twelve months or longer, Unrealized losses	'	0	'
Total Fair value	'	'	109,076
Total Unrealized losses	'	-924	'
Collateralized Mortgage Obligations [Member]	'	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	1,188,632	'	1,289,975
Gross Unrealized Gains	108,187	116,900	'
Gross Unrealized Losses	-14	-13	'
Estimated Market Value	1,296,805	'	1,406,862
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'	'
Less than 12 months, Fair value	1,884	'	1,922
Less than 12 months, Unrealized losses	-14	-13	'
Twelve months or longer, Fair value	0	'	0
Twelve months or longer, Unrealized losses	0	0	'
Total Fair value	1,884	'	1,922
Total Unrealized losses	-14	-13	'
Public Utilities [Member]	'	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	399,917	'	399,913
Gross Unrealized Gains	50,438	49,567	'
Gross Unrealized Losses	0	0	'
Estimated Market Value	450,355	'	449,480
Debt Securities [Member]	'	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	169,147,449	'	171,085,396
Gross Unrealized Gains	9,044,692	6,901,617	'
Gross Unrealized Losses	-2,280,990	-3,577,189	'
Estimated Market Value	175,911,151	'	174,409,824
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'	'
Less than 12 months, Fair value	21,552,641	'	55,178,395
Less than 12 months, Unrealized losses	-744,569	-1,829,669	'
Twelve months or longer, Fair value	11,474,440	'	7,318,832
Twelve months or longer, Unrealized losses	-1,536,421	-1,747,520	'
Total Fair value	33,027,081	'	62,497,227
Total Unrealized losses	-2,280,990	-3,577,189	'
Less than 12 months Number of Securities	13	'	30
Twelve months or longer Number of Securities	7	'	5
Total Number of Securities	20	'	35
Equity Securities [Member]	'	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	38,479,572	'	38,625,230
Gross Unrealized Gains	2,226,327	1,889,748	'
Gross Unrealized Losses	0	0	'
Estimated Market Value	40,705,899	'	40,514,978
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'	'
Less than 12 months, Fair value	0	'	0
Less than 12 months, Unrealized losses	0	0	'
Twelve months or longer, Fair value	0	'	0
Twelve months or longer, Unrealized losses	0	0	'
Total Fair value	0	'	0
Total Unrealized losses	0	0	'
Less than 12 months Number of Securities	0	'	0
Twelve months or longer Number of Securities	0	'	0
Total Number of Securities	0	'	0
All Other Corporate Bonds [Member]	'	'	'
Fixed maturities [Abstract]	'	'	'
Original or Amortized Cost	132,782,346	'	134,168,678
Gross Unrealized Gains	5,604,616	3,483,229	'
Gross Unrealized Losses	-1,959,663	-3,229,082	'
Estimated Market Value	136,427,299	'	134,422,825
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]	'	'	'
Less than 12 months, Fair value	20,790,667	'	49,430,637
Less than 12 months, Unrealized losses	-517,325	-1,481,562	'
Twelve months or longer, Fair value	6,571,706	'	7,318,832
Twelve months or longer, Unrealized losses	-1,442,338	-1,747,520	'
Total Fair value	27,362,373	'	56,749,469
Total Unrealized losses	($1,959,663)	($3,229,082)	'

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Assets [Abstract]	'	'	'	'
Fixed Maturities, available for sale	$175,911,151	$174,409,824	'	'
Trading Securities	7,206,667	6,614,111	'	'
Liabilities [Abstract]	'	'	'	'
Trading Securities	149,956	353,907	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning Balance	32,410,399	'	'	'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unobservable Input, Realized Gain (Loss), Total	82,287	'	'	'
Total Unrealized Gains (Losses) Included in Other Comprehensive Income	229,191	'	'	'
Purchases	-147,543	'	'	'
Ending Balance	32,574,334	'	'	'
Assets [Abstract]	'	'	'	'
Discounted mortgage loans	11,419,581	12,830,735	'	'
Investment real estate	83,937,511	83,585,359	'	'
Cash and cash equivalents	18,515,389	19,838,618	26,287,257	23,321,246
Liabilities [Abstract]	'	'	'	'
Policy loan interest rate, minimum (in hundredths)	4.00%	'	'	'
Policy loan interest rate, maximum (in hundredths)	8.00%	'	'	'
Carrying Amount [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Mortgage loans on real estate	13,935,687	14,454,534	'	'
Discounted mortgage loans	11,419,518	12,830,735	'	'
Investment real estate	83,937,511	83,585,359	'	'
Policy Loans	11,638,101	11,860,960	'	'
Cash and cash equivalents	18,515,389	19,838,618	'	'
Other Assets, Fair Value Disclosure	184,800	0	'	'
Liabilities [Abstract]	'	'	'	'
Notes payable	19,097,534	19,097,534	'	'
Estimated Fair Value [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Mortgage loans on real estate	14,171,392	14,734,756	'	'
Discounted mortgage loans	11,419,581	12,830,735	'	'
Investment real estate	83,937,511	83,585,359	'	'
Policy Loans	11,638,101	11,860,960	'	'
Cash and cash equivalents	18,515,389	19,838,618	'	'
Other Assets, Fair Value Disclosure	184,800	0	'	'
Liabilities [Abstract]	'	'	'	'
Notes payable	19,097,534	19,097,534	'	'
Fixed Maturities [Member]	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning Balance	313,813	'	'	'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unobservable Input, Realized Gain (Loss), Total	82,287	'	'	'
Total Unrealized Gains (Losses) Included in Other Comprehensive Income	53,128	'	'	'
Purchases	-147,543	'	'	'
Ending Balance	301,685	'	'	'
Equity Securities [Member]	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning Balance	32,096,586	'	'	'
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unobservable Input, Realized Gain (Loss), Total	0	'	'	'
Total Unrealized Gains (Losses) Included in Other Comprehensive Income	176,063	'	'	'
Purchases	0	'	'	'
Ending Balance	32,272,649	'	'	'
Measured on a recurring basis [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Fixed Maturities, available for sale	175,911,151	174,409,824	'	'
Equity Securities, available for sale	40,705,899	40,514,978	'	'
Trading Securities	7,206,667	6,614,111	'	'
Total Financial Assets	223,823,717	221,538,913	'	'
Liabilities [Abstract]	'	'	'	'
Trading Securities	153,615	357,439	'	'
Measured on a recurring basis [Member] | Level 1 [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Fixed Maturities, available for sale	19,384,352	19,407,301	'	'
Equity Securities, available for sale	1,669,042	1,643,803	'	'
Trading Securities	7,206,667	6,614,111	'	'
Total Financial Assets	28,260,061	27,665,215	'	'
Liabilities [Abstract]	'	'	'	'
Trading Securities	153,615	357,439	'	'
Measured on a recurring basis [Member] | Level 2 [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Fixed Maturities, available for sale	156,225,114	154,688,710	'	'
Equity Securities, available for sale	6,764,208	6,774,589	'	'
Trading Securities	0	0	'	'
Total Financial Assets	162,989,322	161,463,299	'	'
Liabilities [Abstract]	'	'	'	'
Trading Securities	0	0	'	'
Measured on a recurring basis [Member] | Level 3 [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Fixed Maturities, available for sale	301,685	313,813	'	'
Equity Securities, available for sale	32,272,649	32,096,586	'	'
Trading Securities	0	0	'	'
Total Financial Assets	32,574,334	32,410,399	'	'
Liabilities [Abstract]	'	'	'	'
Trading Securities	$0	$0	'	'

CREDIT_ARRANGEMENTS_Details

CREDIT ARRANGEMENTS (Details) (USD $)

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Oct. 28, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

UTG 2012-11-20 [Member]

UTG 2012-11-20 [Member]

UTG 2012-11-20 [Member]

UTG Avalon 2011-12-28 [Member]

UTG Avalon 2011-12-28 [Member]

UTG Avalon 2013-03-28 [Member]

UTG Avalon 2013-03-28 [Member]

UG 2010-12-28 [Member]

UG 2010-12-28 [Member]

HPG Acquisition 2007-02-07 [Member]

HPG Acquisition 2007-02-07 [Member]

HPG Acquisitions 2012-12-27 [Member]

HPG Acquisitions 2012-12-27 [Member]

Subsequent Event [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issue Date

'

'

'

'

'

'

'

'

'

'

7-Feb-07

'

27-Dec-12

'

Maturity Date

'

'

'

'

'

'

'

'

'

'

7-Nov-17

'

4-Mar-18

'

Outstanding Principal Balance

'

'

'

'

'

'

'

'

'

'

$0

$202,919

$12,000,000

$12,000,000

Interest Rate

'

'

'

'

'

'

'

'

'

'

5.00%

'

4.00%

'

Lines of Credit [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issue Date

'

20-Nov-13

'

'

28-Dec-11

'

28-Mar-13

'

28-Dec-10

'

'

'

'

'

Maturity Date

'

20-Nov-14

'

'

3-Jan-14

'

28-Mar-15

'

5-Dec-14

'

'

'

'

'

Revolving Credit Limit

'

8,000,000

'

'

5,000,000

'

5,000,000

'

15,000,000

'

'

'

'

'

Outstanding Balance

'

2,097,534

2,097,534

'

0

5,000,000

5,000,000

5,000,000

0

0

'

'

'

'

Borrowings

'

0

'

3,000,000

0

'

0

'

0

'

'

'

'

'

Repayments

'

1,655,035

'

'

5,000,000

'

0

'

0

'

'

'

'

'

Interest Rate

'

3.75%

'

'

4.00%

'

4.00%

'

'

'

'

'

'

'

Assets Pledged

'

'100% of the common voting stock of its wholly owned subsidiary, Universal Guaranty Life Insurance Company (bUGb).

'

'

'

'

'

'

'

'

'

'

'

'

Frequency of Payments

'

'

'

'

'two semi-annual

'

'two semi-annual

'

'

'

'

'

'

'

Interest Rate Description

'

'

'

'

'

'

'0.50% above the lowest of the U.S. Prime Rates as published in the money section of the Wall Street Journal with a floor rate of 4%.

'

'

'

'

'

'

'

Additional Credit Capacity

'

'

'

'

'

'

'

'

'up to a maximum of 50% of the total assets of UG.

'

'

'

'

'

Borrowing Capacity

'

'

'

'

'

'

'

'

'based on 50 times each dollar of stock acquired in FHLB above the bbase membershipb amount.

'

'

'

'

'

Scheduled principal reductions on notes payable for the next five years [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2013

2,097,534

'

'

'

'

'

'

'

'

'

'

'

'

'

2014

5,345,459

'

'

'

'

'

'

'

'

'

'

'

'

'

2015

478,193

'

'

'

'

'

'

'

'

'

'

'

'

'

2016

499,278

'

'

'

'

'

'

'

'

'

'

'

'

'

2017

$10,677,070

'

'

'

'

'

'

'

'

'

'

'

'

'

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
STOCK REPURCHASE PROGRAM [Abstract]	'
Stock repurchase program authorized amount	$6,000,000
Treasury Stock, Shares, Acquired	6,632
Amount paid to repurchase shares during the year	78,003
Amount of common stock repurchased	$5
Number of common stock acquired (in shares)	595,158

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Liability for contingent costs [Line Items]	'
Litigation Settlement, Amount	$3,000,000
RLF III, LLC [Member]	'
Investment Commitment [Line Items]	'
Total Funding Commitment	4,000,000
Unfunded Commitment	398,120
Llano Music, LLC [Member]	'
Investment Commitment [Line Items]	'
Total Funding Commitment	4,000,000
Unfunded Commitment	517,000
Marcellus HBPI, LLP [Member]	'
Investment Commitment [Line Items]	'
Total Funding Commitment	1,800,000
Unfunded Commitment	141,300
PBEX, LLC [Member]	'
Investment Commitment [Line Items]	'
Total Funding Commitment	5,600,000
Unfunded Commitment	2,818,750
Sovereign's Capital, LP [Member]	'
Investment Commitment [Line Items]	'
Total Funding Commitment	500,000
Unfunded Commitment	250,000
MM-Appalachia IV, LP [Member]	'
Investment Commitment [Line Items]	'
Total Funding Commitment	2,475,000
Unfunded Commitment	1,056,000
ACAP [Member]	'
Liability for contingent costs [Line Items]	'
Loss Contingency Accrual, Ending Balance	3,000,000
Loss Contingency	$3,000,000
Share Conversion	'

OTHER_CASH_FLOW_DISCLOSURES_De

OTHER CASH FLOW DISCLOSURES (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
OTHER CASH FLOW DISCLOSURES [Abstract]	'	'
Interest expense paid	$19,672	$16,398
Federal income tax	0	2,050,000
Noncash transaction LOC	5,000,000	'
Cash to purchaser	3,100,000	'
Approximate future policyholder benefits	3,700,000	'
Approximate cost of insurance acquired	600,000	'
Noncash transaction short term investments	6,300,000	'
Noncash transaction real estate	$6,300,000	'