Note 3 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

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

	September 30, 2019
	Total		Level 1		Level 2		Level 3
	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	630,316	$	630,316	$	-	$	-
Corporate bonds		19,374,479		-		19,182,879		191,600
Municipal bonds		7,286,559		-		7,286,559		-
Redeemable preferred stock		106,920		-		106,920		-
Mortgage backed and asset backed securities		3,724,209		-		3,724,209		-
Total fixed maturities		31,122,483		630,316		30,300,567		191,600
Equities:
Equities		11,851,019		11,851,019		-		-
Total	$	42,973,502	$	12,481,335	$	30,300,567	$	191,600

	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]

	September 30, 2019				December 31, 2018
	(unaudited)
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets:
Cash and cash equivalents	$	5,145,539	$	5,145,539	$	2,077,646	$	2,077,646
Investment income due and accrued		306,343		306,343		286,890		286,890
Policy loans		68,774		68,774		56,539		56,539
Total Financial Assets (excluding available for sale investments)	$	5,520,656	$	5,520,656	$	2,421,075	$	2,421,075
Financial Liabilities:
Policyholder deposits in deposit-type contracts	$	18,720,202	$	18,540,934	$	16,626,218	$	15,361,164
Total Financial Liabilities	$	18,720,202	$	18,540,934	$	16,626,218	$	15,361,164