LIFE SETTLEMENT POLICIES (Tables)

3 Months Ended

Mar. 31, 2024

Investments, All Other Investments [Abstract]

Schedule of Life Settlement Contracts, Fair Value Method

The following tables summarize the Company’s life insurance policies grouped by remaining life expectancy as of March 31, 2024:

Policies Carried at Fair Value—

Remaining Life Expectancy (Years)	Policies	Face Value		Fair Value
0-1	2	$	5,283,461	$	2,691,760
1-2	7	11,082,062		5,314,074
2-3	18	27,201,580		10,713,554
3-4	40	69,698,534		31,456,621
4-5	31	33,084,969		12,494,075
Thereafter	216	360,605,096		62,818,441
	314	$	506,955,702	$	125,488,525

The following tables summarize the Company’s life insurance policies grouped by remaining life expectancy as of December 31, 2023:

Policies Carried at Fair Value—

Remaining Life Expectancy (Years)	Policies	Face Value		Fair Value
0-1	2	$	383,461	$	315,248
1-2	6	4,391,193		1,590,513
2-3	13	20,692,550		10,850,243
3-4	41	66,017,222		22,744,161
4-5	29	57,814,969		19,326,245
Thereafter	196	371,204,315		67,470,149
	287	$	520,503,710	$	122,296,559

Schedule of Life Settlement Contracts, Investment Method

Policies accounted for using the investment method—

Remaining Life Expectancy (Years)	Policies	Face Value		Carrying Value
1-2	1	500,000		329,714
2-3	2	1,500,000		458,289
3-4	1	8,000,000		86,859
4-5	2	500,000		325,331
Thereafter	2	20,400,000		234,251
	8	$	30,900,000	$	1,434,444

Estimated premiums to be paid by the Company for its portfolio accounted for using the investment method during each of the five succeeding calendar years and thereafter as of March 31, 2024, are as follows:

2024 remaining	$	66,151
2025	92,883
2026	72,923
2027	50,388
2027	32,736
Thereafter	366,103
Total	$	681,184

Policies accounted for using the investment method—

Remaining Life Expectancy (Years)	Number of Life Insurance Policies	Face Value		Carrying Value
0-1	0	$	—	$	—
1-2	1	500,000		329,714
2-3	2	1,500,000		443,544
3-4	1	8,000,000		84,199
4-5	2	500,000		320,110
Thereafter	3	23,400,000		519,611
	9	$	33,900,000	$	1,697,178

Estimated premiums to be paid by the Company for its portfolio accounted for using the investment method during each of the five succeeding calendar years and thereafter as of December 31, 2023, are as follows:

2024	$	88,039
2025	100,785
2026	78,850
2027	50,388
2028	32,736
Thereafter	366,103
Total	$	716,901