2016

2015

2014

Fixed maturity securities

$ 8,972,877

$ 8,168,441

$ 8,229,451

Equity securities

270,942

269,795

212,917

Mortgage loans on real estate

8,963,105

7,696,533

7,550,110

Real estate

10,969,828

9,454,567

8,433,895

Policy loans

781,188

749,917

741,220

Insurance assignments

11,876,836

8,915,655

7,324,964

Other investments

25,122

6,533

-

Short-term investments, principally gains on sale of mortgage loans

4,976,180

7,594,014

5,072,418

Gross investment income

46,836,078

42,855,455

37,564,975

Investment expenses

(9,253,634)

(8,847,551)

(9,261,235)

Net investment income

$ 37,582,444

$ 34,007,904

$ 28,303,740