Note 5 - Liability for Future Policyholder Benefits (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Liability for Future Policy Benefit, Activity [Table Text Block]

Present Value of Expected Future Net Premiums
	As of December 31, 2025
	Individual Life				Critical Illness		Total
Balance, beginning of year	$	399,564		$	10,179		$	409,743
Beginning balance at original discount rate		649,287			11,560			660,847
Effect of changes in cash flow assumptions		(1,239,943	)		-			(1,239,943	)
Effect of actual variances from expected experience		(10,249	)		8,992			(1,257	)
Adjusted beginning of year balance		(600,905	)		20,552			(580,353	)
New issues		9,148,351			156			9,148,507
Interest accrual		339,056			838			339,894
Net premiums collected		(9,155,192	)		(1,728	)		(9,156,920	)
Derecognition (lapses)		-			-			-
Ending balance at original discount rate		(268,690	)		19,818			(248,872	)
Effect of changes in discount rate assumptions		(131,654	)		(1,794	)		(133,448	)
Balance, end of year	$	(400,344	)	$	18,024		$	(382,320	)
Present Value of Expected Future Policy Benefits
	Individual
	Life				Critical Illness		Total
Balance, beginning of year	$	36,222,623		$	10,698		$	36,233,321
Beginning balance at original discount rate		40,651,821			12,947			(5,682,746	)
Effect of changes in cash flow assumptions		21,011			-			(127,270	)
Effect of actual variances from expected experience		(106,799	)		9,457			(97,342	)
Adjusted beginning of year balance		40,566,033			22,404			40,588,437
New issues		9,735,500			156			9,735,656
Death benefits		(5,672,746	)		(10,000	)		(5,682,746	)
Surrender/maturity		(127,270	)		-			(127,270	)
Other benefits		-			(527	)		(527	)
Dividends		(2	)		-			(2	)
Return of premium		-			-			-
Expense included in Reserve		(64,683	)		(37	)		(64,720	)
Interest accrued		1,932,984			586			1,933,570
Ending balance at original discount rate		46,369,816			12,582			46,382,398
Effect of changes in discount rate assumptions		(3,617,243	)		(1,952	)		(3,619,195	)
Balance, end of year	$	42,752,573		$	10,630		$	42,763,203
Net liability for future policy benefits	$	43,152,917		$	(7,394	)	$	43,145,523
Flooring of liability at zero at cohort level		-			7,570			7,570
Net liability for future policy benefits, post-flooring		43,152,917			176			43,153,093
Less: Reinsurance recoverable (payable)		421,244			(9,962)			411,282
Net liability for future policy benefits, after reinsurance recoverable	$	42,731,673		$	10,138		$	42,741,811

Present Value of Expected Future Net Premiums	As of December 31, 2024
	Individual
	Life				Critical Illness		Total
Balance, beginning of year	$	1,459,013		$	10,810		$	1,469,822
Beginning balance at original discount rate		1,632,430			11,632			1,644,062
Effect of changes in cash flow assumptions		(1,368,429	)		-			(1,368,429	)
Effect of actual variances from expected experience		(319,354	)		365			(318,989	)
Adjusted beginning of year balance		(55,352	)		11,997			(43,355	)
New issues		8,109,289			59			8,109,348
Interest accrual		158,925			484			159,409
Net premiums collected		(7,562,606	)		(981	)		(7,563,587	)
Derecognition (lapses)		-			-			-
Ending balance at original discount rate		650,256			11,560			681,815
Effect of changes in discount rate assumptions		(249,713	)		(1,381	)		(251,094	)
Balance, end of year	$	400,542		$	10,179		$	410,721
Present Value of Expected Future Policy Benefits
	Individual
	Life				Critical Illness		Total
Balance, beginning of year	$	32,472,542		$	11,215		$	32,483,757
Beginning balance at original discount rate		35,351,429			12,500			35,363,929
Effect of changes in cash flow assumptions		2,370			-			2,370
Effect of actual variances from expected experience		(711,655	)		369			(711,286	)
Adjusted beginning of year balance		34,642,143			12,870			34,655,013
New issues		8,483,515			59			8,483,573
Death benefits		(3,677,131	)		-			(3,677,131	)
Surrender/maturity		(144,829	)		-			(144,829	)
Other benefits		-			(479	)		(479	)
Dividends		(8	)		-			(8	)
Return of premium		-			-			-
Expense included in Reserve		(53,142	)		(34	)		(53,176	)
Interest accrued		1,398,083			532			1398615
Ending balance at original discount rate		40,648,631			12,947			40,661578
Effect of changes in discount rate assumptions		(4,429,098	)		(2,249	)		(4,431,347	)
Balance, end of year	$	36,219,533		$	10,698		$	36,230,231
Net liability for future policy benefits, pre-flooring	$	35,818,991		$	519		$	35,819,510
Flooring of liability at zero at cohort level		6,402			-			6,402
Net liability for future policy benefits, post-flooring		35,825,393			519			35,825,912
Less: Reinsurance recoverable (payable)		374,700			(6,630	)		368,071
Net liability for future policy benefits, after reinsurance recoverable	$	35,450,693			7,148		$	35,457,841

	December 31, 2025		December 31, 2024
Liability for future policyholder benefits	$	43,153,093	$	35,825,912
In course of settlements		764,862		104,533
Incurred but not reported		372,089		239,954
Other		269,409		274,541
Total liability for future policyholder benefits	$	44,559,453	$	36,444,940

	December 31, 2025 (undiscounted)
	Traditional		Disability &
	Life		Critical Illness
Expected future gross premiums	$	15,692,183	$	412,176
Expected future benefits and expenses	$	80,814,045	$	27,063

	December 31, 2025 (discounted)
	Traditional		Disability &
	Life		Critical Illness
Expected future gross premiums	$	11,460,334	$	225,911
Expected future benefits and expenses	$	42,752,896	$	11,019

	December 31, 2024 (undiscounted)
	Traditional		Disability &
	Life		Critical Illness
Expected future gross premiums	$	15,641,809	$	442,793
Expected future benefits and expenses	$	70,521,251	$	27,208

	December 31, 2024 (discounted)
	Traditional		Disability &
	Life		Critical Illness
Expected future gross premiums	$	11,290,012	$	234,606
Expected future benefits and expenses	$	36,219,532	$	10,697