Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Investments, All Other Investments [Abstract]

Schedule of Financial Instruments at Fair Value Measured on a Recurring Basis

The following table presents the Company’s fair value hierarchy for those financial instruments measured at fair value on a recurring basis as of December 31, 2018 and 2017.

			Significant
	Quoted		Other		Significant
	In Active		Observable		Unobservable		Estimated
	Markets		Inputs		Inputs		Fair
	(Level 1)		(Level 2)		(Level 3)		Value
December 31, 2018
Fixed maturities:
U.S. government obligations	$	-	$	1,995,951	$	-	$	1,995,951
Agency securities		-		1,004,051		-		1,004,051
States and political subdivisions — general obligations		-		263,184		-		263,184
States and political subdivisions — special revenue		-		25,173		-		25,173
Corporate		-		14,095,824		-		14,095,824
Total Investments	$	-	$	17,384,183	$	-	$	17,384,183
December 31, 2017
Fixed maturities:
U.S. government obligations	$	-	$	2,030,098	$	-	$	2,030,098
Mortgage-back securities		-		1,318,581		-		1,318,581
States and political subdivisions - general obligations		-		269,987		-		269,987
States and political subdivisions - special revenue		-		25,385		-		25,385
Corporate		-		17,361,856		-		17,361,856
Total fixed maturities	$	-	$	21,005,907	$	-	$	21,005,907

Schedule of Financial Assets and Liabilities at Fair Value

The following disclosure contains the carrying values, estimated fair values and their corresponding placement in the fair value hierarchy, for financial assets and financial liabilities as of December 31, 2018 and 2017, respectively:

	December 31, 2018
			Fair Value Measurements Using
			Quoted Prices in
			Active Markets		Significant Other		Significant
			for Identical Assets		Observable		Unobservable
	Carrying		and Liabilities		Inputs		Inputs		Fair
	Amount		(Level 1)		(Level 2)		(Level 3)		Value
Assets:
Policy loans	$	43,843	$	-	$	-	$	43,843	$	43,843
Cash		2,832,567		2,832,567		-		-		2,832,567
Liabilities:
Policyholder deposits
(Deposit-type contracts)		7,234,927		-		-		7,234,927		7,234,927
Notes payable		18,938,705		-		-		18,988,760		18,988,760
	December 31, 2017
			Fair Value Measurements Using
			Quoted Prices in
			Active Markets		Significant Other		Significant
			for Identical Assets		Observable		Unobservable
	Carrying		and Liabilities		Inputs		Inputs		Fair
	Amount		(Level 1)		(Level 2)		(Level 3)		Value
Assets:
Policy loans	$	86,491	$	-	$	-	$	86,491	$	86,491
Cash		951,527		951,527		-		-		951,527
Liabilities:
Policyholder deposits
(Investment-type contracts)		8,314,297		-		-		8,314,297		8,314,297
Surplus notes and accrued interest payable		843,922		-		-		843,922		843,922