Note 4 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

	December 31, 2024
	Total		Level 1		Level 2		Level 3
Fixed maturities:
US Treasury securities	$	711,377	$	711,377	$	-	$	-
Corporate bonds		21,491,820		-		21,322,220		169,600
Municipal bonds		4,741,149		-		4,741,149		-
Redeemable preferred stock		2,411,234		-		2,411,234		-
Term loans		12,788,304		-		-		12,788,304
Mortgage backed and asset backed securities		37,434,295		-		37,090,545		343,750
Total fixed maturities		79,578,179		711,377		65,565,148		13,301,654
Equities:
Common stock		2,395,195		2,271,495		123,700		-
Preferred stock		1,480,890		-		1,480,890		-
Total equities		3,876,085		2,271,495		1,604,590		-
Other invested assets		1,109,606		-		-		1,109,606
Reinsurance contract allocated hedge		713,114		-		-		713,114
Limited partnership interests		428,170		-		-		428,170
Total	$	85,705,154	$	2,982,872	$	67,169,738	$	15,552,544

	December 31, 2023
	Total		Level 1		Level 2		Level 3
Fixed maturities:
US Treasury securities	$	724,668	$	724,668	$	-	$	-
Corporate bonds		17,813,362		-		17,643,762		169,600
Municipal bonds		5,636,093		-		5,636,093		-
Redeemable preferred stock		3,305,569		-		3,305,569		-
Term loans		17,052,420		-		-		17,052,420
Mortgage backed and asset backed securities		29,977,408		-		29,489,908		487,500
Total fixed maturities		74,509,520		724,668		56,075,332		17,709,520
Equities:
Common stock		2,116,356		2,017,756		98,600		-
Preferred stock		1,469,529		-		1,469,529		-
Total equities		3,585,885		2,017,756		1,568,129		-
Other invested assets		2,239,683		-		-		2,239,683
Reinsurance contract allocated hedge		673,681		-		-		673,681
Limited partnership interests		389,827		-		-		389,827
Total	$	81,398,596	$	2,742,424	$	57,643,461	$	21,012,711

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

			Mortgage						Other
For the Year Ended December 31, 2024	Corporate		Backed			Term			Invested
	Bonds		Securities			Loans			Assets
Fair value, beginning of period	$	169,600	$	487,500		$	17,052,420		$	2,239,683
Principal payment		-		-			(9,751,858	)		(2,140,666	)
Acquisition		-		-			5,359,575			230,914
Investment related gains (losses), net		-		(143,750	)		128,167			(216,250	)
Fair value, end of period	$	169,600	$	343,750		$	12,788,304		$	1,109,606

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

	December 31, 2024
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	6,903,783	$	6,903,783	$	6,903,783	$	-	$	-
Mortgage loans on real estate		25,192,749		25,192,749		-		-		25,192,749
Limited partnership interests		428,170		428,170		-		-		428,170
Investment income due and accrued		954,324		954,324		-		-		954,324
Reinsurance contract allocated hedge		713,114		713,114		-		-		713,114
Policy loans		31,745		31,745		-		-		31,745
Total Financial Assets (excluding available for sale investments)	$	34,223,885	$	34,223,885	$	6,903,783	$	-	$	27,320,102
Financial Liabilities:
Federal Home Loan Bank advance	$	1,250,000	$	1,250,000	$	-	$	-	$	1,250,000
Policyholder deposits in deposit-type contracts		77,940,378		64,945,983		-		-		64,945,983
Total Financial Liabilities	$	79,190,378	$	66,195,983	$	-	$	-	$	66,195,983

	December 31, 2023
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	8,982,138	$	8,982,138	$	8,982,138	$	-	$	-
Mortgage loans on real estate		19,617,253		19,617,253		-		-		19,617,253
Limited partnership interests		389,827		389,827		-		-		389,827
Investment income due and accrued		1,878,620		1,878,620		-		-		1,878,620
Reinsurance contract allocated hedge		673,681		673,681		-		-		673,681
Policy loans		26,132		26,132		-		-		26,132
Total Financial Assets (excluding available for sale investments)	$	31,567,651	$	31,567,651	$	8,982,138	$	-	$	22,585,513
Financial Liabilities:
Federal Home Loan Bank advance	$	1,000,000	$	1,000,000	$	-	$	-	$	1,000,000
Policyholder deposits in deposit-type contracts		78,063,888		67,401,118		-		-		67,401,118
Total Financial Liabilities	$	79,063,888	$	68,401,118	$	-	$	-	$	68,401,118