UTG (UTGN) 10-Q 12 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2015	Jul. 31, 2014	Jun. 30, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	UTG INC
Entity Central Index Key	832480
Current Fiscal Year End Date	-19
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	2015
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15

Balance_Sheet

Balance Sheet (USD $)	Mar. 31, 2015	Dec. 31, 2014
Investments available for sale:
Fixed maturities, at fair value (amortized cost $168,405,894 and $171,085,396)	$200,563,990	$197,481,456
Equity securities, at fair value (cost $38,001,406 and $38,625,230)	43,351,685	40,996,002
Trading securities, at fair value (cost $5,849,605 and $6,924,413)	3,236,000	3,826,250
Mortgage loans on real estate at amortized cost	12,426,552	14,060,930
Discounted mortgage loans on real estate at cost	7,882,374	9,101,052
Investment real estate	51,306,778	51,007,101
Policy loans	10,905,412	11,104,485
Short-term investments	4,170,257	4,382,181
Total investments	333,843,048	331,959,457
Cash and cash equivalents	14,158,897	13,977,443
Accrued investment income	2,590,338	2,662,865
Future policy benefits	27,925,083	27,906,905
Policy claims and other benefits	3,865,776	3,788,294
Cost of insurance acquired	8,821,083	9,047,984
Deferred policy acquisition costs	0	0
Property and equipment, net of accumulated depreciation	2,360,455	2,475,829
Income tax receivable	79,973	0
Other assets	9,565,673	8,081,461
Total assets	403,210,326	399,900,238
Liabilities:
Future policyholder benefits	273,940,829	275,044,909
Policy claims and benefits payable	3,409,527	3,208,324
Other policyholder funds	435,671	341,248
Dividend and endowment accumulations	14,247,763	14,239,054
Income tax payable	0	1,933,243
Deferred income taxes	11,145,917	9,413,794
Notes payable	4,400,000	4,400,000
Trading securities, at fair value (proceeds $532,747 and $505,272)	10,375	23,853
Other liabilities	7,320,777	7,723,213
Total liabilities	314,910,859	316,327,638
Common stock - no par value, stated value $.001 per share. Authorized 7,000,000 shares - 3,761,454 and 3,776,197 shares outstanding	3,718	3,706
Additional paid-in capital	43,273,445	43,122,944
Retained earnings	34,649,417	32,145,662
Accumulated other comprehensive income	9,189,624	6,853,974
Total UTG shareholders' equity	87,116,204	82,126,286
Noncontrolling interests	1,183,263	1,446,314
Total shareholders' equity	88,299,467	83,572,600
Total liabilities and shareholders' equity	$403,210,326	$399,900,238

Balance_Sheet_Parenthetical

Balance Sheet Parenthetical (USD $)	Mar. 31, 2015	Dec. 31, 2014
Investments available for sale:
Fixed maturities, amortized cost	$189,187,290	$188,634,364
Equity securities, cost	40,567,620	39,275,638
Trading securities, cost	5,162,637	5,179,850
Liabilities:
Trading Securities, Proceeds	$76,145	$464,215
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)	3,717,965	3,706,780

Income_Statement

Income Statement (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Premiums and policy fees	$2,937,514	$2,733,687
Ceded reinsurance premiums and policy fees	-779,326	-780,983
Net investment income	5,954,502	4,533,119
Other income	167,393	520,431
Revenues before realized gains	8,280,083	7,006,254
Realized investment gains (losses), net:
Other-than-temporary impairments	0	0
Other realized investment gains, net	2,903,906	277,424
Total realized investment gains, net	2,903,906	277,424
Total revenue	11,183,989	7,283,678
Benefits, claims and settlement expenses:
Life	4,676,213	6,686,047
Ceded Reinsurance benefits and claims	-494,696	-1,202,470
Annuity	249,250	278,577
Dividends to policyholders	130,636	136,172
Amortization of cost of insurance acquired	226,901	246,412
Commissions and amortization of deferred policy acquisition costs	-42,225	-101,137
Operating expenses	2,199,095	2,656,118
Interest expense	37,973	181,832
Total benefits and other expenses	6,983,147	8,881,551
Loss before income taxes	4,200,842	-1,597,873
Income tax (expense) benefit	-1,461,249	192,511
Net loss	2,739,593	-1,405,362
Net income attributable to noncontrolling interests	-235,838	-122,954
Net loss attributable to common shareholders'	$2,503,755	($1,528,316)
Amounts attributable to common shareholders':
Basic loss per share	$0.68	($0.41)
Diluted loss per share	$0.68	($0.41)
Basic weighted average shares outstanding	3,707,755	3,771,867
Diluted weighted average shares outstanding	3,707,755	3,771,867

Condensed_Consolidated_Stateme

Condensed Consolidated Statement of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Condensed Consolidated Statement of Comprehensive Income (Unaudited) [Abstract]
Net income (loss)	$2,739,593	($1,405,362)
Other comprehensive income (loss), net of tax:
Unrealized holding gains (losses) arising during period	3,709,599	5,316,805
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	-1,298,360	-1,860,882
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	2,411,239	3,455,923
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	-116,291	-252,008
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	40,702	88,203
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	-75,589	-163,805
Subtotal: Other comprehensive income (loss), net of tax	2,335,650	3,292,118
Comprehensive income (loss)	5,075,243	1,886,756
Less comprehensive income attributable to noncontrolling interests	-235,838	-122,954
Comprehensive income (loss) attributable to UTG, Inc.	$4,839,405	$1,763,802

Statement_of_Cash_Flows

Statement of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss attributable to common shareholders	$2,503,755	($1,528,316)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization (accretion) of investments	-3,119,078	-536,311
Realized investment gains, net	-2,903,906	-277,424
Unrealized trading (gains) losses included in income	947,630	-260,651
Realized trading (gains) losses included in income	-387,750	0
Amortization of deferred policy acquisition costs	0	12,914
Amortization of cost of insurance acquired	226,901	246,412
Depreciation	200,450	318,708
Net income attributable to noncontrolling interest	235,838	122,954
Charges for mortality and administration of universal life and annuity products	-1,665,654	-1,689,689
Interest credited to account balances	1,385,988	1,419,880
Change in accrued investment income	72,527	217,824
Change in reinsurance receivables	-95,660	468,671
Change in policy liabilities and accruals	-589,949	-1,207,644
Change in income taxes receivable (payable)	-2,013,216	2,406
Change in other assets and liabilities, net	-1,412,184	566,693
Net cash used in operating activities	-6,614,308	-2,123,573
Proceeds from investments sold and matured:
Fixed maturities available for sale	3,009,394	10,868,969
Equity securities available for sale	1,141,660	167,504
Trading securities	16,893	75,134
Mortgage loans	1,634,379	626,528
Discounted mortgage loans	4,459,218	2,087,795
Real estate	9,230,904	521,361
Policy loans	686,113	886,346
Short term investment	228,503	0
Total proceeds from investments sold and matured	20,407,064	15,233,637
Cost of investments acquired:
Fixed maturities available for sale	-3,557,854	-8,813,706
Equity securities available for sale	-2,432,839	0
Trading securities	0	-257,730
Mortgage loans	0	-107,681
Discounted mortgage loans	-9,638	-5,638
Real estate	-6,828,846	-1,150,682
Policy loans	-487,040	-663,488
Short-term investments	-16,579	-184,800
Total cost of investments acquired	-13,332,796	-11,183,725
Net cash provided by investing activities	7,074,268	4,049,912
Cash flows from financing activities:
Policyholder contract deposits	1,459,335	1,489,219
Policyholder contract withdrawals	-1,389,465	-1,615,210
Purchase of treasury stock	150,513	-78,003
Non-controlling distributions of consolidated subsidiary	-498,889	0
Sale of block of business	0	-3,045,574
Net cash provided by (used in) financing activities	-278,506	-3,249,568
Net increase (decrease) in cash and cash equivalents	181,454	-1,323,229
Cash and cash equivalents at beginning of period	13,977,443	19,838,618
Cash and cash equivalents at end of period	$14,158,897	$18,515,389

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2015
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION	Note 1 – Basis of Presentation
	The accompanying Condensed Consolidated Balance Sheet as ofDecember 31, 2014, which has been derived from audited consolidated financial statements, and the unaudited interim Condensed Consolidated Financial Statements include the accounts of UTG, Inc. (the "Parent" or "UTG") 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, 2014.  The Company's results of operations for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or for any other future period.
	This document at times will refer to UTG'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, 2015, Mr. Correll owns or controls directly and indirectly approximately  57.32% 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, 2015
NEW ACCOUNTING STANDARDS [Abstract]
NEW ACCOUNTING STANDARDS	Note 2 – Recently Issued Accounting Standards
	In January 2015, the FASB issued ASU 2015-01, Income Statement – Extraordinary and Unusual Items, ("ASU 2015-01"), which removes the concept of extraordinary items from U.S. GAAP.  Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is unusual and occurs infrequently.  This separate, net-of-tax presentation will no longer be allowed.  The existing requirement to separately disclose events or transactions that are unusual or occur infrequently on a pre-tax basis within continuing operations in the income statement has been retained.  The new guidance requires similar separate presentation of items that are both unusual and infrequent.  The new standard is effective for periods beginning after December 15, 2015.  Early adoption is permitted, but only as of the beginning of the fiscal year of adoption.  Upon adoption, the Company will present transactions that are both unusual and infrequent, if any, on a pre-tax basis within continuing operations in the income statement.
	In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which makes changes to both the variable interest model and voting interest model and eliminates the indefinite deferral of FASB Statement No. 167, included in ASU 2010-10, for certain investment funds. All reporting entities that hold a variable interest in other legal entities will need to re-evaluate their consolidation conclusions as well as disclosure requirements. This ASU is effective for annual periods beginning after December 15, 2015, and early adoption is permitted, including any interim period. This is not expected to have a material impact on the financial statements of the Company.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2015
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 it is 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-15		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		22,417,779			2,018,645			-7,032			24,429,392
		$			$			$			$
	U.S. special revenue and assessments		1,137,664			26,396			0			1,164,060
	Collateralized mortgage obligations		916,506			80,657			-10			997,153
	Public utilities		399,931			57,704			0			457,635
	All other corporate bonds		164,315,410			10,736,662			-1,536,322			173,515,750
			189,187,290			12,920,064			-1,543,364			200,563,990
	Equity securities		40,567,620			3,366,554			-582,489			43,351,685
	Total	$	229,754,910		$	16,286,618		$	-2,125,853		$	243,915,675
	31-Dec-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		23,036,161			1,970,791			-50,184			24,956,768
		$			$			$			$
	States, municipalities and political subdivisions		95,000			2,385			0			97,385
	U.S. special revenue and assessments		1,137,702			13,739			-202,930			948,511
	Collateralized mortgage obligations		1,005,081			92,091			-6			1,097,166
	Public utilities		399,927			55,913			0			455,840
	All other corporate bonds		162,960,493			8,624,486			-1,659,193			169,925,786
			188,634,364			10,759,405			-1,912,313			197,481,456
	Equity securities		39,275,638			2,260,855			-540,491			40,996,002
	Total	$	227,910,002		$	13,020,260		$	-2,452,804		$	238,477,458
	The amortized cost and estimated market value of debt securities at March 31, 2015, 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-15		Cost			Fair Value
	Due in one year or less	$	3,359,020		$	3,450,132
	Due after one year through five years		22,740,022			24,083,177
	Due after five years through ten years		81,389,426			86,783,934
	Due after ten years		80,782,316			85,249,594
	Collateralized mortgage obligations		916,506			997,153
	Total	$	189,187,290		$	200,563,990
	The fair value of investments with sustained gross unrealized losses at March 31, 2015 and December 31, 2014 are as follows:
	31-Mar-15		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		$	4,990,625	-7,032		$	4,990,625	-7,032
	Collateralized mortgage obligations		0	0			986	-10			986	-10
	All other corporate bonds		19,437,851	-351,722			3,576,334	-1,184,600			23,014,185	-1,536,322
	Total fixed maturities	$	19,437,851	-351,722		$	8,567,945	-1,191,642		$	28,005,796	-1,543,364
	Equity securities	$	2,579,789	-582,489		$	0	0		$	2,579,789	-582,489
	31-Dec-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		$	4,947,265	-50,184		$	4,947,265	-50,184
	U.S. special revenue and assessments		0	0			784,390	-202,930			784,390	-202,930
	Collateralized mortgage obligations		0	0			1,012	-6			1,012	-6
	All other corporate bonds		28,954,477	-416,560			3,535,206	-1,242,633			32,489,683	-1,659,193
	Total fixed maturities	$	28,954,477	-416,560		$	9,267,873	-1,495,753		$	38,222,350	-1,912,313
	Equity securities	$	6,067,132	-540,491		$	0	0		$	6,067,132	-540,491
	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, 2015
	Fixed maturities	12		6		18
	Equity securities	25		0		25
	As of December 31, 2014
Fixed maturities	18		7		25
Equity securities	25		0		25
Substantially all of the unrealized losses on fixed maturities available for sale and equity securities at March 31, 2015 and December 31, 2014 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, 2015 and December 31, 2014.
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 did not record any losses for other-than-temporary impairments in the Condensed Consolidated Statements of Operations for the three month period ended March 31, 2015 and 2014.
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, 2015 was $0 and $(10,375), respectively. The fair value of derivatives included in trading security assets and trading security liabilities as of December 31, 2014 was $6,250 and $(23,853), 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,
		2015			2014
Net unrealized gains (losses)	$	947,630		$	260,651
Net realized gains (losses)		-423,657			21,173
Net unrealized and realized gains (losses)	$	523,973		$	281,824
Mortgage Loans
As of March 31, 2015 and December 31, 2014, the Company's mortgage loan portfolio contained 30 and 33 mortgage loans, including discounted mortgage loans, with a carrying value of $20,308,926 and $23,161,982, 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 2015 and 2014 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 any interest or principal are being vigorously worked by Management.  The current discounted commercial mortgage loan portfolio has an average price of  27.84 % 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, 2015
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, 2015.
			Level 1		Level 2		Level 3		Total
	Assets
	Fixed Maturities, available for sale	$	12,761,197	$	186,869,986	$	932,807	$	200,563,990
	Equity Securities, available for sale		6,619,542		6,810,303		29,921,840		43,351,685
	Trading Securities		3,236,000		0		0		3,236,000
	Total	$	22,616,739	$	193,680,289	$	30,854,647	$	247,151,675
	Liabilities
	Trading Securities	$	10,375	$	0	$	0	$	10,375
	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 December 31, 2014.
			Level 1		Level 2		Level 3		Total
	Assets
	Fixed Maturities, available for sale	$	13,374,878	$	183,236,853	$	869,725	$	197,481,456
	Equity Securities, available for sale		4,756,292		7,361,076		28,878,634		40,996,002
	Trading Securities		3,826,250		0		0		3,826,250
	Total	$	21,957,420	$	190,597,929	$	29,748,359	$	242,303,708
	Liabilities
	Trading Securities	$	23,853	$	0	$	0	$	23,853
	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,
			Available for Sale		Available for Sale		Total
	Balance at December 31, 2014	$	869,725	$	28,878,634	$	29,748,359
	Total unrealized gains (losses):
	Included in realized gains(losses)		0		0		0
	Included in other comprehensive income		63,082		97,581		160,663
	Purchases		0		945,625		945,625
	Sales	$	0	$	0	$	0
	Balance at March 31, 2015		932,807		29,921,840		30,854,647
	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-15				31-Dec-14
					Estimated				Estimated
			Carrying		Fair		Carrying		Fair
	Assets		Amount		Value		Amount		Value
	Mortgage loans on real estate	$	12,426,552	$	12,582,915	$	14,060,930	$	14,236,676
	Discounted mortgage loans		7,882,374		7,882,374		9,101,052		9,101,052
	Investment real estate		51,306,778		51,306,778		51,007,101		51,007,101
	Policy loans		10,905,412		10,905,412		11,104,485		11,104,485
	Cash and cash equivalents		14,158,897		14,158,897		13,977,443		13,977,443
	Short term investments		4,170,257		4,170,257		4,382,181		4,382,181
	Collateral and non-collateral loans		9,565,673		9,565,673		5,612,560		5,612,560
	Liabilities
	Notes payable		4,400,000		4,400,000		4,400,000		4,400,000
	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 purchased 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 condensed consolidated 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 condensed consolidated 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 Company invests in collateral and non-collateral loans that are reported in the other assets balance on the Company's Consolidated Balance Sheets.  The loans are carried at their unpaid principal balances, which approximates fair value. The inputs used to measure the fair value of the loans 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, 2015

NOTES PAYABLE [Abstract]

CREDIT ARRANGEMENTS

Note 5 – Credit Arrangements

At March 31, 2015 and December 31, 2014, the Company had the following outstanding debt:

Outstanding Principal Balance

Instrument

Issue Date

Maturity Date

31-Mar-15

31-Dec-14

Promissory Note:

UTG Avalon

12/29/14

4/1/18

4,400,000

4,400,000

Instrument

Issue Date

Maturity Date

Revolving Credit Limit

31-Dec-14

Borrowings

Repayments

31-Mar-15

Lines of Credit:

UTG

11/20/13

11/20/15

$

8,000,000

$

0

0

0

$

0

The UTG Avalon promissory note issued on December 29, 2014 carries interest at a rate of 3.5 % with interest payable quarterly beginning in July of 2015.  The interest is a variable rate that is equal to the lowest of the U.S. Prime Rates as published in the money section of the Wall Street Journal.  The interest rate is subject to change monthly and any change in interest rate is effective the first day of the month following the rate change. Principal is due upon maturity of the note.  During the second quarter of 2015, UTG Avalon repaid $2,000,000 of the outstanding principal balance on the promissory note.  The principal payment was paid by UTG and as a result of the payment, an intercompany promissory note receivable/payable was established.

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"). .

The consolidated scheduled principal reductions on the notes payable for the next five years are as follows:

Year

Amount

2015

$

0

2016

0

2017

0

2018

4,400,000

2019

0

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2015
CAPITAL STOCK TRANSACTIONS [Abstract]
CAPITAL STOCK TRANSACTIONS	Note 6 – Shareholders' Equity
	Stock Repurchase Programs
	The Board of Directors of UTG authorized the repurchase in the open market or in privately negotiated transactions of up to $7,000,000 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, 2015, the Company repurchased 3,156 shares through the stock repurchase program for $43,456.  Through March 31, 2015, UTG has spent $6,166,581 in the acquisition of 665,854 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, 2015 and 2014, 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, 2015
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 condensed consolidated 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, 2015 related to certain investments:
			Total Funding		Unfunded
			Commitment		Commitment
	RLF III, LLC	$	4,000,000	$	398,120
	Llano Music, LLC		4,000,000		1,904,000
	Marcellus HBPI, LLP		1,800,000		141,300
	Sovereign's Capital, LP Fund I		500,000		185,000
	MM-Appalachia IV, LP		2,475,000		825,000
	UGLIC, LLC		1,600,000		800,000
	Sovereign's Capital, LP Fund II		1,000,000		1,000,000
	During 2006, the Company committed to invest in RLF III, LLC ("RLF"), which makes land-based investments 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 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 Sovereign's Capital, LP Fund I ("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. During January of 2015, MM-Appalachia IV, LP called $371,250 of the unfunded commitment. Also, in January of 2015, the Company committed to invest an additional $825,000 in MM-Appalachia IV, LP.
	During 2014, the Company committed to invest in UGLIC, LLC, which purchases real estate tax receivables.  UGLIC, LLC makes capital calls as funds are needed for additional purchases.
	During 2015, the Company committed to invest in Sovereign's Capital, LP Fund II ("Sovereign's"), which invests in companies in emerging markets. Sovereign's makes capital calls to investors as funds are needed

OTHER_CASH_FLOW_DISCLOSURES

OTHER CASH FLOW DISCLOSURES	3 Months Ended
	Mar. 31, 2015
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,
			2015		2014
	Interest	$	0	$	19,672
	Federal income tax		3,000,000		0

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2015
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, 2015
NEW ACCOUNTING STANDARDS [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Note 2 – Recently Issued Accounting Standards
	In January 2015, the FASB issued ASU 2015-01, Income Statement – Extraordinary and Unusual Items, ("ASU 2015-01"), which removes the concept of extraordinary items from U.S. GAAP.  Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is unusual and occurs infrequently.  This separate, net-of-tax presentation will no longer be allowed.  The existing requirement to separately disclose events or transactions that are unusual or occur infrequently on a pre-tax basis within continuing operations in the income statement has been retained.  The new guidance requires similar separate presentation of items that are both unusual and infrequent.  The new standard is effective for periods beginning after December 15, 2015.  Early adoption is permitted, but only as of the beginning of the fiscal year of adoption.  Upon adoption, the Company will present transactions that are both unusual and infrequent, if any, on a pre-tax basis within continuing operations in the income statement.
	In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which makes changes to both the variable interest model and voting interest model and eliminates the indefinite deferral of FASB Statement No. 167, included in ASU 2010-10, for certain investment funds. All reporting entities that hold a variable interest in other legal entities will need to re-evaluate their consolidation conclusions as well as disclosure requirements. This ASU is effective for annual periods beginning after December 15, 2015, and early adoption is permitted, including any interim period. This is not expected to have a material impact on the financial statements of the Company.

INVESTMENTS_Tables

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
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-15		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		22,417,779			2,018,645			-7,032			24,429,392
		$			$			$			$
	U.S. special revenue and assessments		1,137,664			26,396			0			1,164,060
	Collateralized mortgage obligations		916,506			80,657			-10			997,153
	Public utilities		399,931			57,704			0			457,635
	All other corporate bonds		164,315,410			10,736,662			-1,536,322			173,515,750
			189,187,290			12,920,064			-1,543,364			200,563,990
	Equity securities		40,567,620			3,366,554			-582,489			43,351,685
	Total	$	229,754,910		$	16,286,618		$	-2,125,853		$	243,915,675
	31-Dec-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		23,036,161			1,970,791			-50,184			24,956,768
		$			$			$			$
	States, municipalities and political subdivisions		95,000			2,385			0			97,385
	U.S. special revenue and assessments		1,137,702			13,739			-202,930			948,511
	Collateralized mortgage obligations		1,005,081			92,091			-6			1,097,166
	Public utilities		399,927			55,913			0			455,840
	All other corporate bonds		162,960,493			8,624,486			-1,659,193			169,925,786
			188,634,364			10,759,405			-1,912,313			197,481,456
	Equity securities		39,275,638			2,260,855			-540,491			40,996,002
	Total	$	227,910,002		$	13,020,260		$	-2,452,804		$	238,477,458
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, 2015, 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-15		Cost			Fair Value
	Due in one year or less	$	3,359,020		$	3,450,132
	Due after one year through five years		22,740,022			24,083,177
	Due after five years through ten years		81,389,426			86,783,934
	Due after ten years		80,782,316			85,249,594
	Collateralized mortgage obligations		916,506			997,153
	Total	$	189,187,290		$	200,563,990
Fair value of investments with sustained gross unrealized losses	The fair value of investments with sustained gross unrealized losses at March 31, 2015 and December 31, 2014 are as follows:
	31-Mar-15		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		$	4,990,625	-7,032		$	4,990,625	-7,032
	Collateralized mortgage obligations		0	0			986	-10			986	-10
	All other corporate bonds		19,437,851	-351,722			3,576,334	-1,184,600			23,014,185	-1,536,322
	Total fixed maturities	$	19,437,851	-351,722		$	8,567,945	-1,191,642		$	28,005,796	-1,543,364
	Equity securities	$	2,579,789	-582,489		$	0	0		$	2,579,789	-582,489
	31-Dec-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		$	4,947,265	-50,184		$	4,947,265	-50,184
	U.S. special revenue and assessments		0	0			784,390	-202,930			784,390	-202,930
	Collateralized mortgage obligations		0	0			1,012	-6			1,012	-6
	All other corporate bonds		28,954,477	-416,560			3,535,206	-1,242,633			32,489,683	-1,659,193
	Total fixed maturities	$	28,954,477	-416,560		$	9,267,873	-1,495,753		$	38,222,350	-1,912,313
	Equity securities	$	6,067,132	-540,491		$	0	0		$	6,067,132	-540,491
	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, 2015
	Fixed maturities	12		6		18
	Equity securities	25		0		25
	As of December 31, 2014
	Fixed maturities	18		7		25
	Equity securities	25		0		25
Trading revenue charged to investment	Trading revenue charged to net investment income from trading securities was:
			Three Months Ended
			March 31,
			2015			2014
	Net unrealized gains (losses)	$	947,630		$	260,651
	Net realized gains (losses)		-423,657			21,173
	Net unrealized and realized gains (losses)	$	523,973		$	281,824

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
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, 2015.
			Level 1		Level 2		Level 3		Total
	Assets
	Fixed Maturities, available for sale	$	12,761,197	$	186,869,986	$	932,807	$	200,563,990
	Equity Securities, available for sale		6,619,542		6,810,303		29,921,840		43,351,685
	Trading Securities		3,236,000		0		0		3,236,000
	Total	$	22,616,739	$	193,680,289	$	30,854,647	$	247,151,675
	Liabilities
	Trading Securities	$	10,375	$	0	$	0	$	10,375
	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 December 31, 2014.
			Level 1		Level 2		Level 3		Total
	Assets
	Fixed Maturities, available for sale	$	13,374,878	$	183,236,853	$	869,725	$	197,481,456
	Equity Securities, available for sale		4,756,292		7,361,076		28,878,634		40,996,002
	Trading Securities		3,826,250		0		0		3,826,250
	Total	$	21,957,420	$	190,597,929	$	29,748,359	$	242,303,708
	Liabilities
	Trading Securities	$	23,853	$	0	$	0	$	23,853
	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,
			Available for Sale		Available for Sale		Total
	Balance at December 31, 2014	$	869,725	$	28,878,634	$	29,748,359
	Total unrealized gains (losses):
	Included in realized gains(losses)		0		0		0
	Included in other comprehensive income		63,082		97,581		160,663
	Purchases		0		945,625		945,625
	Sales	$	0	$	0	$	0
	Balance at March 31, 2015		932,807		29,921,840		30,854,647
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-15				31-Dec-14
					Estimated				Estimated
			Carrying		Fair		Carrying		Fair
	Assets		Amount		Value		Amount		Value
	Mortgage loans on real estate	$	12,426,552	$	12,582,915	$	14,060,930	$	14,236,676
	Discounted mortgage loans		7,882,374		7,882,374		9,101,052		9,101,052
	Investment real estate		51,306,778		51,306,778		51,007,101		51,007,101
	Policy loans		10,905,412		10,905,412		11,104,485		11,104,485
	Cash and cash equivalents		14,158,897		14,158,897		13,977,443		13,977,443
	Short term investments		4,170,257		4,170,257		4,382,181		4,382,181
	Collateral and non-collateral loans		9,565,673		9,565,673		5,612,560		5,612,560
	Liabilities
	Notes payable		4,400,000		4,400,000		4,400,000		4,400,000

CREDIT_ARRANGEMENTS_Tables

CREDIT ARRANGEMENTS (Tables)

3 Months Ended

Mar. 31, 2015

NOTES PAYABLE [Abstract]

Schedule of promissory note

At March 31, 2015 and December 31, 2014, the Company had the following outstanding debt:

Outstanding Principal Balance

Instrument

Issue Date

Maturity Date

31-Mar-15

31-Dec-14

Promissory Note:

UTG Avalon

12/29/14

4/1/18

4,400,000

4,400,000

Schedule of lines of credit

Instrument

Issue Date

Maturity Date

Revolving Credit Limit

31-Dec-14

Borrowings

Repayments

31-Mar-15

Lines of Credit:

UTG

11/20/13

11/20/15

$

8,000,000

$

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

2015

$

0

2016

0

2017

0

2018

4,400,000

2019

0

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2015
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, 2015 related to certain investments:
			Total Funding		Unfunded
			Commitment		Commitment
	RLF III, LLC	$	4,000,000	$	398,120
	Llano Music, LLC		4,000,000		1,904,000
	Marcellus HBPI, LLP		1,800,000		141,300
	Sovereign's Capital, LP Fund I		500,000		185,000
	MM-Appalachia IV, LP		2,475,000		825,000
	UGLIC, LLC		1,600,000		800,000
	Sovereign's Capital, LP Fund II		1,000,000		1,000,000

OTHER_CASH_FLOW_DISCLOSURES_Ta

OTHER CASH FLOW DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2015
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,
			2015		2014
	Interest	$	0	$	19,672
	Federal income tax		3,000,000		0

BASIS_OF_PRESENTATION_Details

BASIS OF PRESENTATION (Details)	3 Months Ended
	Mar. 31, 2015
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)	57.32%

INVESTMENTS_Details

INVESTMENTS (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	Loans		Loans
Amortized cost and estimated value of debt securities, by contractual maturity [Abstract]
Due in one year or less	$3,450,132
Due after one year through five years	24,083,177
Due after five years through ten years	86,783,934
Due after ten years	85,249,594
Collateralized mortgage obligations	997,153
Total	200,563,990
Fixed maturities [Abstract]
Original or Amortized Cost	229,754,910		227,910,002
Gross Unrealized Gains	16,286,618	13,020,260
Gross Unrealized Losses	-2,125,853	-2,452,804
Estimated Market Value	243,915,675		238,477,458
Amortized cost and estimated market value of debt securities, by contractual maturity [Abstract]
Due in one year or less	3,359,020
Due after one year through five years	22,740,022
Due after five years through ten years	81,389,426
Due after ten years	80,782,316
Collateralized mortgage obligation	916,506
Total	189,187,290
Trading Securities [Abstract]
Fair value, derivatives included in trading security assets	0		6,250
Fair value, derivative included in trading security liabilities	-10,375		-23,853
Trading securities, net unrealized gain (loss)	947,630	260,651
Trading securities, realized gain (loss)	-423,657	21,173
Increase (Decrease) in Trading Securities [Abstract]
Net Realized and Unrealized Gain (Loss) on Trading Securities	523,973	281,824
Mortgages [Abstract]
Number of Mortgage Loans including Discounted Mortgage Loans	30		33
Mortgage Loans including Discounted Mortgage Loans	20,308,926		23,161,982
Mortgage loans reserve			0
Average purchase price to outstanding loan (in hundredths)	27.84%
U.S. Government and Government Agencies and Authorities [Member]
Fixed maturities [Abstract]
Original or Amortized Cost	22,417,779		23,036,161
Gross Unrealized Gains	2,018,645	1,970,791
Gross Unrealized Losses	-7,032	-50,184
Estimated Market Value	24,429,392		24,956,768
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	4,990,625		4,947,265
Twelve months or longer, Unrealized losses	-7,032	-50,184
Total Fair value	4,990,625		4,947,265
Total Unrealized losses	-7,032	-50,184
US Special Revenue and Assessments [Member]
Fixed maturities [Abstract]
Original or Amortized Cost	1,137,664		1,137,702
Gross Unrealized Gains	26,396	13,739
Gross Unrealized Losses	0	-202,930
Estimated Market Value	1,164,060		948,511
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		784,390
Twelve months or longer, Unrealized losses	0	-202,930
Total Fair value	0		784,390
Total Unrealized losses	0	-202,930
States, Municipalities and Political Subdivisions [Member]
Fixed maturities [Abstract]
Original or Amortized Cost	0		95,000
Gross Unrealized Gains	0	2,385
Gross Unrealized Losses	0	0
Estimated Market Value	0		97,385
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 months, Fair value			0
Less than 12 months, Unrealized losses		0
Twelve months or longer, Fair value			0
Twelve months or longer, Unrealized losses		0
Total Fair value			0
Total Unrealized losses		0
Collateralized Mortgage Obligations [Member]
Fixed maturities [Abstract]
Original or Amortized Cost	916,506		1,005,081
Gross Unrealized Gains	80,657	92,091
Gross Unrealized Losses	-10	-6
Estimated Market Value	997,153		1,097,166
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	986		1,012
Twelve months or longer, Unrealized losses	-10	-6
Total Fair value	986		1,012
Total Unrealized losses	-10	-6
Public Utilities [Member]
Fixed maturities [Abstract]
Original or Amortized Cost	399,931		399,927
Gross Unrealized Gains	57,704	55,913
Gross Unrealized Losses	0	0
Estimated Market Value	457,635		455,840
Debt Securities [Member]
Fixed maturities [Abstract]
Original or Amortized Cost	189,187,290		188,634,364
Gross Unrealized Gains	12,920,064	10,759,405
Gross Unrealized Losses	-1,543,364	-1,912,313
Estimated Market Value	200,563,990		197,481,456
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 months, Fair value	19,437,851		28,954,477
Less than 12 months, Unrealized losses	-351,722	-416,560
Twelve months or longer, Fair value	8,567,945		9,267,873
Twelve months or longer, Unrealized losses	-1,191,642	-1,495,753
Total Fair value	28,005,796		38,222,350
Total Unrealized losses	-1,543,364	-1,912,313
Less than 12 months Number of Securities	12		18
Twelve months or longer Number of Securities	6		7
Total Number of Securities	18		25
Equity Securities [Member]
Fixed maturities [Abstract]
Original or Amortized Cost	40,567,620		39,275,638
Gross Unrealized Gains	3,366,554	2,260,855
Gross Unrealized Losses	-582,489	-540,491
Estimated Market Value	43,351,685		40,996,002
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 months, Fair value	2,579,789		6,067,132
Less than 12 months, Unrealized losses	-582,489	-540,491
Twelve months or longer, Fair value	0		0
Twelve months or longer, Unrealized losses	0	0
Total Fair value	2,579,789		6,067,132
Total Unrealized losses	-582,489	-540,491
Less than 12 months Number of Securities	25		25
Twelve months or longer Number of Securities	0		0
Total Number of Securities	25		25
All Other Corporate Bonds [Member]
Fixed maturities [Abstract]
Original or Amortized Cost	164,315,410		162,960,493
Gross Unrealized Gains	10,736,662	8,624,486
Gross Unrealized Losses	-1,536,322	-1,659,193
Estimated Market Value	173,515,750		169,925,786
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 months, Fair value	19,437,851		28,954,477
Less than 12 months, Unrealized losses	-351,722	-416,560
Twelve months or longer, Fair value	3,576,334		3,535,206
Twelve months or longer, Unrealized losses	-1,184,600	-1,242,633
Total Fair value	23,014,185		32,489,683
Total Unrealized losses	($1,536,322)	($1,659,193)

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Assets [Abstract]
Fixed Maturities, available for sale	$200,563,990	$197,481,456
Trading Securities	3,236,000	3,826,250
Liabilities [Abstract]
Trading Securities	10,375	23,853
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	29,748,359
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	160,663
Purchases	945,625
Sales	0
Ending Balance	30,854,647
Assets [Abstract]
Discounted mortgage loans	7,882,374	9,101,052
Investment real estate	51,306,778	51,007,101
Cash and cash equivalents	14,158,897	13,977,443	18,515,389	19,838,618
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	12,426,552	14,060,930
Discounted mortgage loans	7,882,374	9,101,052
Investment real estate	51,306,778	51,007,101
Policy Loans	10,905,412	11,104,485
Cash and cash equivalents	14,158,897	13,977,443
Other Assets, Fair Value Disclosure	4,170,257	4,382,181
Financing Receivable, Gross	9,565,673	5,612,560
Liabilities [Abstract]
Notes payable	4,400,000	4,400,000
Estimated Fair Value [Member]
Assets [Abstract]
Mortgage loans on real estate	12,582,915	14,236,676
Discounted mortgage loans	7,882,374	9,101,052
Investment real estate	51,306,778	51,007,101
Policy Loans	10,905,412	11,104,485
Cash and cash equivalents	14,158,897	13,977,443
Other Assets, Fair Value Disclosure	4,170,257	4,382,181
Financing Receivable, Gross	9,565,673	5,612,560
Liabilities [Abstract]
Notes payable	4,400,000	4,400,000
Fixed Maturities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	869,725
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	63,082
Purchases	0
Sales	0
Ending Balance	932,807
Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	28,878,634
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	97,581
Purchases	945,625
Sales	0
Ending Balance	29,921,840
Measured on a recurring basis [Member]
Assets [Abstract]
Fixed Maturities, available for sale	200,563,990	197,481,456
Equity Securities, available for sale	43,351,685	40,996,002
Trading Securities	3,236,000	3,826,250
Total Financial Assets	247,151,675	242,303,708
Liabilities [Abstract]
Trading Securities	10,375	23,853
Measured on a recurring basis [Member] | Level 1 [Member]
Assets [Abstract]
Fixed Maturities, available for sale	12,761,197	13,374,878
Equity Securities, available for sale	6,619,542	4,756,292
Trading Securities	3,236,000	3,826,250
Total Financial Assets	22,616,739	21,957,420
Liabilities [Abstract]
Trading Securities	10,375	23,853
Measured on a recurring basis [Member] | Level 2 [Member]
Assets [Abstract]
Fixed Maturities, available for sale	186,869,986	183,236,853
Equity Securities, available for sale	6,810,303	7,361,076
Trading Securities	0	0
Total Financial Assets	193,680,289	190,597,929
Liabilities [Abstract]
Trading Securities	0	0
Measured on a recurring basis [Member] | Level 3 [Member]
Assets [Abstract]
Fixed Maturities, available for sale	932,807	869,725
Equity Securities, available for sale	29,921,840	28,878,634
Trading Securities	0	0
Total Financial Assets	30,854,647	29,748,359
Liabilities [Abstract]
Trading Securities	$0	$0

CREDIT_ARRANGEMENTS_Details

CREDIT ARRANGEMENTS (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Scheduled principal reductions on notes payable for the next five years [Abstract]
2013	$0
2014	0
2015	0
2016	4,400,000
2017	0
UTG 2012-11-20 [Member]
Lines of Credit [Line Items]
Issue Date	20-Nov-13
Maturity Date	20-Nov-15
Revolving Credit Limit	8,000,000
Outstanding Balance	0	0
Borrowings	0
Repayments	0
Interest Rate	3.75%
Assets Pledged	100% of the common voting stock of its wholly owned subsidiary, Universal Guaranty Life Insurance Company (bUGb).
UTG Avalon 2011-12-28 [Member]
Lines of Credit [Line Items]
Issue Date	28-Dec-11
Maturity Date	3-Jan-14
Frequency of Payments	quarterly
UTG Avalon 2013-03-28 [Member]
Lines of Credit [Line Items]
Interest Rate	3.50%
HPG Acquisition 2007-02-07 [Member]
Debt Instrument [Line Items]
Issue Date	29-Dec-14
Maturity Date	1-Apr-18
Outstanding Principal Balance	$4,400,000	$4,400,000

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
STOCK REPURCHASE PROGRAM [Abstract]
Stock repurchase program authorized amount	$7,000,000,000,000
Treasury Stock, Shares, Acquired	3,156
Amount paid to repurchase shares during the year	43,456
Amount of common stock repurchased	$6,166,581
Number of common stock acquired (in shares)	665,854

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Liability for contingent costs [Line Items]
Litigation Settlement, Amount	$0
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	1,904,000
Marcellus HBPI, LLP [Member]
Investment Commitment [Line Items]
Total Funding Commitment	1,800,000
Unfunded Commitment	141,300
Sovereign's Capital, LP Fund I [Member]
Investment Commitment [Line Items]
Total Funding Commitment	500,000
Unfunded Commitment	185,000
Sovereign's Capital LP Fund II [Member]
Investment Commitment [Line Items]
Total Funding Commitment	1,000,000
Unfunded Commitment	1,000,000
MM-Appalachia IV, LP [Member]
Investment Commitment [Line Items]
Total Funding Commitment	2,475,000
Unfunded Commitment	825,000
UGLIC, LLC [Member]
Investment Commitment [Line Items]
Total Funding Commitment	1,600,000
Unfunded Commitment	800,000
ACAP [Member]
Liability for contingent costs [Line Items]
Loss Contingency Accrual, Ending Balance	0
Loss Contingency	$0
Share Conversion

OTHER_CASH_FLOW_DISCLOSURES_De

OTHER CASH FLOW DISCLOSURES (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
OTHER CASH FLOW DISCLOSURES [Abstract]
Interest expense paid	$0	$19,672
Federal income tax	3,000,000	0
Noncash transaction LOC	0
Cash to purchaser	0
Approximate future policyholder benefits	0
Approximate cost of insurance acquired	0
Noncash transaction short term investments	0
Noncash transaction real estate	$0