Note 3 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

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

	March 31, 2019
	Total		Level 1		Level 2		Level 3
	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	589,784	$	589,784	$	-	$	-
Corporate bonds		17,383,167		-		17,187,167		196,000
Municipal bonds		6,800,040		-		6,800,040		-
Redeemable preferred stock		99,200		-		99,200		-
Mortgage backed and asset backed securities		3,799,557		-		3,799,557		-
Total fixed maturities		28,671,748		589,784		27,885,964		196,000
Equities:
Equities		11,895,466		11,895,466		-		-
Total	$	40,567,214	$	12,485,250	$	27,885,964	$	196,000

	December 31, 2018
	Total		Level 1		Level 2		Level 3
Available for sale:
Fixed maturities:
US Treasury securities	$	569,940	$	569,940	$	-	$	-
Corporate bonds		15,842,361		-		15,642,361		200,000
Municipal bonds		6,598,113		-		6,598,113		-
Redeemable preferred stock		90,840		-		90,840		-
Mortgage backed and asset backed securities		3,780,985		-		3,780,985		-
Total fixed maturities		26,882,239		569,940		26,112,299		200,000
Equities:
Equities		10,987,539		10,987,539		-		-
Total	$	37,869,778	$	11,557,479	$	26,112,299	$	200,000

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

	March 31, 2019				December 31, 2018
	(unaudited)
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets:
Cash and cash equivalents	$	2,485,374	$	2,485,374	$	2,077,646	$	2,077,646
Investment income due and accrued		311,398		311,398		286,890		286,890
Investments, at fair value		40,624,649		40,624,649		37,926,317		37,926,317
Total Financial Assets	$	43,421,421	$	43,421,421	$	40,290,853	$	40,290,853
Financial Liabilities:
Policyholder deposits in deposit-type contracts	$	17,280,482	$	16,197,221	$	16,626,218	$	15,361,164
Total Financial Liabilities	$	17,280,482	$	16,197,221	$	16,626,218	$	15,361,164