Note 5 - Liability for Future Policyholder Benefits (Tables)

3 Months Ended

Mar. 31, 2026

Notes Tables

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

	As of March 31, 2026
	Individual Life			Critical Illness			Total
Balance, beginning of year	$	(400,344	)	$	18,024		$	(382,320	)
Beginning balance at original discount rate		(268,690	)		19,818			(248,872	)
Effect of changes in cash flow assumptions		(539,368	)		-			(539,368	)
Effect of actual variances from expected experience		84,436			72			84,508
Adjusted beginning of year balance		(723,622	)		19,890			(703,732	)
New issues		2,560,371			-			2,560,371
Interest accrual		38,596			206			38,802
Net premiums collected		(2,649,457	)		(426	)		(2,649,883	)
Derecognition (lapses)		-			-			-
Ending balance at original discount rate		(774,112	)		19,670			(754,442	)
Effect of changes in discount rate assumptions		(184,846	)		(2,095	)		(186,941	)
Balance, end of year	$	(958,958	)	$	17,575		$	(941,383	)

	Individual
	Life			Critical Illness			Total
Balance, beginning of year	$	42,752,917		$	10,630		$	42,763,203
Beginning balance at original discount rate		46,369,816			12,582			46,382,398
Effect of changes in cash flow assumptions		133			-			133
Effect of actual variances from expected experience		79,609			63			79,672
Adjusted beginning of year balance		46,449,558			12,645			46,462,203
New issues		2,560,371			-			2,560,371
Death benefits		(1,355,447	)		-			(1,355,447	)
Surrender/maturity		(15,954	)		-			(15,954	)
Other benefits		-			(137	)		(137	)
Dividends		-			-			-
Return of premium		-			-			-
Expense included in Reserve		(17,714	)		(10	)		(17,724	)
Interest accrued		461,389			524			461,913
Ending balance at original discount rate		48,082,203			13,022			48,095,225
Effect of changes in discount rate assumptions		(4,272,099	)		(2,176	)		(4,274,275	)
Balance, end of year	$	43,810,104		$	10,846		$	43,820,950
Net liability for future policy benefits	$	44,769,062		$	(6,729	)	$	44,762,333
Flooring of liability at zero at cohort level		-			7,312			7,312
Net liability for future policy benefits, post-flooring		44,769,062			583			44,769,645
Less: Reinsurance recoverable		462,768			(10,616	)		452,152
Net liability for future policy benefits, after reinsurance recoverable	$	44,306,294		$	11,199		$	44,317,493

	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	)

	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			40,664,768
Effect of changes in cash flow assumptions		21,011			-			21,011
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, pre-flooring	$	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		421,244			(9,962	)		411,282
Net liability for future policy benefits, after reinsurance recoverable	$	42,731,673		$	10,138		$	42,741,811

	March 31, 2026		December 31, 2025
Liability for future policyholder benefits	$	44,769,645	$	43,153,093
In course of settlements		139,976		764,862
Incurred but not reported		300,060		372,089
Other		225,484		269,409
Total liability for future policyholder benefits	$	45,435,165	$	44,559,453

	March 31, 2026 (undiscounted)
	Traditional		Disability &
	Life		Critical Illness
Expected future gross premiums	$	15,647,893	$	409,578
Expected future benefits and expenses	$	91,520,587	$	27,039

	March 31, 2026 (discounted)
	Traditional		Disability &
	Life		Critical Illness
Expected future gross premiums	$	11,250,729	$	221,088
Expected future benefits and expenses	$	43,810,107	$	10,846

	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