Note 4 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	September 30, 2017
	Total		Level 1		Level 2		Level 3
	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	240,475	$	240,475	$	-	$	-
Government agency bonds		299,303		-		299,303		-
Corporate bonds		6,234,413		-		6,234,413		-
Municipal bonds		5,702,588		-		5,702,588		-
Redeemable preferred stock		100,040		-		100,040		-
Mortgage backed and asset backed securities		2,577,005		-		2,577,005		-
Total fixed maturities		15,153,824		240,475		14,913,349		-
Equities:
Equities		7,665,497		7,665,497		-		-
Total	$	22,819,321	$	7,905,972	$	14,913,349	$	-

	December 31, 2016
	Total		Level 1		Level 2		Level 3
Available for sale:
Fixed maturities:
US Treasury securities	$	299,162	$	299,162	$	-	$	-
Corporate bonds		3,845,896		-		3,845,896		-
Municipal bonds		2,849,829		-		2,849,829		-
Mortgage backed and asset backed securities		3,325,187		-		3,325,187		-
Total fixed maturities		10,320,074		299,162		10,020,912		-
Equities:
Equities		4,942,248		4,942,248		-		-
Other equity investments		201,256		201,256		-		-
Total equities		5,143,504		5,143,504		-		-
Total	$	15,463,578	$	5,442,666	$	10,020,912	$	-

Fair Value, by Balance Sheet Grouping [Table Text Block]

	September 30, 2017				December 31, 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(unaudited)
Financial Assets:
Cash and cash equivalents	$	11,015,077	$	11,015,077	$	3,145,745	$	3,145,745
Investment income due and accrued		124,745		124,745		100,713		100,713
Policy loans		33,376		33,376		-		-
Investments, at fair value		22,819,321		22,819,321		15,463,578		15,463,578
Total Financial Assets	$	33,992,519	$	33,992,519	$	18,710,036	$	18,710,036
Financial Liabilities:
Policyholder deposits in deposit-type contracts	$	12,749,556	$	11,950,167	$	3,398,170	$	3,260,086
Total Financial Liabilities	$	12,749,556	$	11,950,167	$	3,398,170	$	3,260,086