7): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Schedule of Financial Instruments Carried at Other Than Fair Value

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$       50,430,197	$             -	$             -	$       53,693,961	$       53,693,961
Residential construction	29,584,245	-	-	29,584,245	29,584,245
Commercial	45,880,001	-	-	47,829,817	47,829,817
Mortgage loans, net	$     125,894,443	$             -	$             -	$     131,108,023	$     131,108,023
Policy loans	7,187,804	-	-	7,187,804	7,187,804
Other loans	31,996,446	-	-	31,996,446	31,996,446
Short-term investments	20,620,236	-	-	20,620,236	20,620,236
Liabilities
Bank and other loans payable	$     (29,410,570)	$             -	$             -	$     (29,410,570)	$     (29,410,570)

The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2014:

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Mortgage loans:
Residential	$       51,876,621	$             -	$             -	$       55,247,638	$       55,247,638
Residential construction	32,971,824	-	-	32,971,824	32,971,824
Commercial	35,201,627	-	-	36,829,266	36,829,266
Mortgage loans, net	$     120,050,072	$             -	$             -	$     125,048,728	$     125,048,728
Policy loans	7,011,012	-	-	7,011,012	7,011,012
Other loans	27,114,416	-	-	27,114,416	27,114,416
Short-term investments	27,059,495	-	-	27,059,495	27,059,495
Liabilities
Bank and other loans payable	$     (28,989,008)	$             -	$             -	$     (28,989,008)	$     (28,989,008)