22) Future Policy Benefits and Unpaid Claims

12 Months Ended

Dec. 31, 2019

Notes

22) Future Policy Benefits and Unpaid Claims

22)Future Policy Benefits and Unpaid Claims 

The Company reports future policy benefits and unpaid claims pursuant to the accounting policy discussed in Note 1 of the Notes to Consolidated Financial Statements.

The following table provides information regarding future policy benefits and unpaid claims and the related receivable from reinsurers.

	Years Ended September 30
	2019	2018
Life	$ 654,585,723	$466,232,621
Annuities	113,579,831	98,137,615
Policyholder account balances	45,154,180	46,479,853
Accident and health	667,428	482,693
Other policyholder funds	4,530,227	4,431,296
Reported but unpaid claims	4,891,922	3,365,872
Incurred but not reported claims	2,191,607	1,269,764
Gross future policy benefits and unpaid claims	$ 825,600,918	$620,399,714
Receivable from reinsurers
Life	11,040,398	6,702,328
Annuities	4,038,007	4,078,666
Accident and health	90,113	-
Reported but unpaid claims	569,250	33,108
Incurred but not reported claims	10,000	6,000
Total receivable from reinsurers	15,747,768	10,820,102
Net future policy benefits and unpaid claims	$ 809,853,150	$609,579,612