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Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investments [Abstract]  
Available for Sale Securities
Investments in available for sale securities are summarized as follows for the years ended December 31:

2022
  
Original or Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Estimated
Fair
Value
  
Investments available for sale:
                        
Fixed maturities
                        
U.S. Government and govt. agencies and authorities
  
$
18,315,321
    
$
0
    
$
(1,104,146
)
  
$
17,211,175
  
U.S. special revenue and assessments
    
7,535,018
      
0
      
(335,918
)
    
7,199,100
  
All other corporate bonds
    
91,429,481
      
65,529
      
(7,592,226
)
    
83,902,784
  
Total
  
$
117,279,820
    
$
65,529
    
$
(9,032,290
)
  
$
108,313,059
  

2021
  
Original or Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Estimated
Fair
Value
  
Investments available for sale:
                        
Fixed maturities
                        
U.S. Government and govt. agencies and authorities
  
$
25,312,358
    
$
355,623
    
$
(17,078
)
  
$
25,650,903
  
U.S. special revenue and assessments
    
7,540,867
      
982,668
      
0
      
8,523,535
  
All other corporate bonds
    
95,096,738
      
11,692,705
      
0
      
106,789,443
  
Total
  
$
127,949,963
    
$
13,030,996
    
$
(17,078
)
  
$
140,963,881
  
Debt Securities by Contractual Maturity
The amortized cost and estimated market value of debt securities at December 31, 2022, by contractual maturity, is shown below.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

Fixed Maturities Available for Sale
December 31, 2022
  
Amortized
Cost
  
Estimated
Fair Value
Due in one year or less
  
$
7,501,489
  
$
7,393,130
Due after one year through five years
    
45,914,985
    
43,837,255
Due after five years through ten years
    
14,876,371
    
14,341,653
Due after ten years
    
22,013,592
    
19,389,980
Fixed maturities with no single maturity date
    
26,973,383
    
23,351,041
Total
  
$
117,279,820
  
$
108,313,059
Fair Value of Investments with Sustained Gross Unrealized Losses
The fair value of investments with sustained gross unrealized losses are as follows as of December 31:

2022
  
Less than 12 months
  
12 months or longer
  
Total
   
Fair value
  
Unrealized losses
  
Fair value
  
Unrealized losses
  
Fair value
  
Unrealized losses
U.S. Government and govt. agencies and authorities
  
$
17,211,175
  
(1,104,146)
  
$
0
  
0
  
$
17,211,175
  
(1,104,146)
U.S. special revenue and assessments
    
7,199,100
  
(335,918)
    
0
  
0
    
7,199,100
  
(335,918)
All other corporate bonds
    
80,144,564
  
(7,592,226)
    
0
  
0
    
80,144,564
  
(7,592,226)
Total fixed maturities
  
$
104,554,839
  
(9,032,290)
  
$
0
  
0
  
$
104,554,839
  
(9,032,290)

2021
  
Less than 12 months
  
12 months or longer
  
Total
   
Fair value
  
Unrealized losses
  
Fair value
  
Unrealized losses
  
Fair value
  
Unrealized losses
U.S. Government and govt. agencies and authorities
  
$
4,042,825
  
(17,078)
  
$
0
  
0
  
$
4,042,825
  
(17,078)
Total fixed maturities
  
$
4,042,825
  
(17,078)
  
$
0
  
0
  
$
4,042,825
  
(17,078)
Securities in Continuous Unrealized Loss Position
The following table provides additional information regarding the number of securities that were in an unrealized loss position for greater than or less than twelve months:
Less than 12 months
  
12 months or longer
  
Total
As of December 31, 2022
          
Fixed maturities
57
  
0
  
57
As of December 31, 2021
          
Fixed maturities
3
  
0
  
3
Trading Revenue Charged to Investment Income from Trading Securities
The following table reflects trading securities revenue charged to net investment income for the periods ended December 31:

  
2022
    
2021
  
Net unrealized gains (losses)
  
$
(1,086
)
  
$
2,059
  
Net realized gains (losses)
    
(12,197
)
    
20,509
  
Net unrealized and realized gains (losses)
  
$
(13,283
)
  
$
22,568
  
Maximum and Minimum Lending Rates for Mortgage Loan
During 2022 and 2021, the maximum and minimum lending rates for mortgage loans were:
2022
  
2021
 
Maximum
rate
  
Minimum
rate
  
Maximum
rate
  
Minimum
rate
Farm loans
5.00 %
  
4.50 %
  
6.00 %
  
4.50 %
Commercial loans
7.00 %
  
4.00 %
  
5.50 %
  
4.10 %
Residential loans
5.00 %
  
4.15 %
  
5.00 %
  
4.15 %
Discounted Mortgage Holdings
The following table summarizes the mortgage loan holdings of the Company for the periods ended December 31:

  
2022
    
2021
  
In good standing
  
$
30,698,694
    
$
27,102,789
  
Overdue interest over 90 days
    
0
      
2,080,773
  
Total mortgage loans
  
$
30,698,694
    
$
29,183,562
  
Total foreclosed loans during the year
  
$
0
    
$
0
  
Investment Real Estate by Type
The following table provides an allocation of the Company’s investment real estate by type for the periods ended December 31:

  
2022
    
2021
  
Raw land
  
$
11,634,472
    
$
14,538,507
  
Commercial
    
5,124,847
      
4,347,423
  
Residential
    
3,402,502
      
3,813,936
  
Land, minerals and royalty interests
    
14,772,531
      
17,048,395
  
Total investment real estate
  
$
34,934,352
    
$
39,748,261
  
Schedule of Net Investment Income
The following table reflects the Company’s net investment income for the periods ended December 31:

  
2022
    
2021
  
Fixed maturities
  
$
4,153,453
    
$
4,566,293
  
Equity securities
    
2,539,579
      
1,274,147
  
Trading securities
    
(13,283
)
    
22,568
  
Mortgage loans
    
1,580,647
      
706,883
  
Real estate
    
15,424,260
      
3,241,689
  
Notes receivable
    
933,886
      
1,558,406
  
Policy loans
    
489,823
      
606,347
  
Cash and cash equivalents
    
203,250
      
2,567
  
Short-term investments
    
5,056
      
0
  
Total consolidated investment income
    
25,316,671
      
11,978,900
  
Investment expenses
    
(4,505,200
)
    
(2,928,575
)
Consolidated net investment income
  
$
20,811,471
    
$
9,050,325
  
Net Realized Investment Gains and Losses
The following table presents net investment gains (losses) and the change in net unrealized gains on investments for the periods ended December 31:

  
2022
  
2021
Realized gains:
            
   Sales of fixed maturities
  
$
4,683
  
$
55,867
   Sales of equity securities
    
8,986,784
    
3,142,720
   Sales of real estate
    
5,326,838
    
2,877,808
   Total realized gains
    
14,318,305
    
6,076,395
Realized losses:
            
   Sales of fixed maturities
    
(5,211)
    
0
   Sales of equity securities
    
(109,636)
    
(54,742)
   Sales of real estate
    
(34,547)
    
0
   Other-than-temporary impairments
    
(5,000,000)
    
(393,455)
   Total realized losses
    
(5,149,394)
    
(448,197)
      Net realized investment gains (losses)
    
9,168,911
    
5,628,198
Change in fair value of equity securities:
            
   Change in fair value of equity securities held at the end of the period
    
33,690,712
    
14,121,883
   Change in fair value of equity securities
    
33,690,712
    
14,121,883
      Net investment gains (losses)
  
$
42,859,623
  
$
19,750,081
Change in net unrealized gains (losses) on available-for-sale investments included in other comprehensive income:
            
   Fixed maturities
  
$
(27,824,173)
  
$
(7,085,803)
   Net increase (decrease)
  
$
(27,824,173)
  
$
(7,085,803)
Other than Temporary Impairment
Based on Management’s review of the investment portfolio, the Company recorded the following losses for other-than-temporary impairments in the Consolidated Statements of Operations for the periods ended December 31:
2022
  
2021
Other than temporary impairments:
          
Fixed maturities
$
0
  
$
393,455
Equity securities, at cost
  
5,000,000
    
0
Total other than temporary impairments
$
5,000,000
  
$
393,455