Note 4 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Notes Tables

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

	March 31, 2025
	Total		Level 1		Level 2		Level 3
	(unaudited)
Fixed maturities:
US Treasury securities	$	730,769	$	730,769	$	-	$	-
Corporate bonds		19,720,433		-		19,550,833		169,600
Municipal bonds		4,805,839		-		4,805,839		-
Redeemable preferred stock		2,395,034		-		2,395,034		-
Term loans		11,978,065		-		-		11,978,065
Mortgage backed and asset backed securities		39,248,549		-		38,908,549		340,000
Total fixed maturities		78,878,689		730,769		65,660,255		12,487,665
Equities:
Common stock		2,276,770		2,151,770		125,000		-
Preferred stock		1,451,778		-		1,451,778		-
Total equities		3,728,548		2,151,770		1,576,778		-
Other invested assets		1,185,571		-		-		1,185,571
Reinsurance contract allocated hedge		594,352		-		-		594,352
Limited partnership interests		688,788		-		-		688,788
Total	$	85,075,948	$	2,882,539	$	67,237,033	$	14,956,376

	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

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

			Mortgage						Other
For the Three Months Ended March 31, 2025	Corporate		Backed			Term			Invested
(unaudited)	Bonds		Securities			Loans			Assets
Fair value, beginning of period	$	169,600	$	343,750		$	12,788,304		$	1,109,606
Principal payment		-		(3,750	)		(826,472	)		-
Acquisition		-		-			39,273			-
Investment related gains (losses), net		-		-			787,199			75,965
Fair value, end of period	$	169,600	$	340,000		$	12,788,304		$	1,185,571

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

	March 31, 2025
	(unaudited)
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	6,721,441	$	6,721,441	$	6,721,441	$	-	$	-
Mortgage loans on real estate		24,194,567		24,194,567		-		-		24,194,567
Limited partnership interests		688,788		688,788		-		-		688,788
Investment income due and accrued		1,018,582		1,018,582		-		-		1,018,582
Reinsurance contract allocated hedge		594,352		594,352		-		-		594,352
Policy loans		32,513		32,513		-		-		32,513
Total Financial Assets (excluding available for sale investments)	$	33,250,243	$	33,250,243	$	6,721,441	$	-	$	26,528,802
Financial Liabilities:
Federal Home Loan Bank advance	$	1,250,000	$	1,250,000	$	-	$	-	$	1,250,000
Policyholder deposits in deposit-type contracts		74,759,710		61,861,543		-		-		61,861,543
Total Financial Liabilities	$	76,009,710	$	63,111,543	$	-	$	-	$	63,111,543

	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