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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 11,053,296 $ 14,629,295
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization (accretion) of investments 103,936 (334,449)
Realized investment gains, net (1,026,768) (451,590)
Change in fair value of equity securities (15,033,564) (17,738,388)
Unrealized trading losses included in income 0 0
Amortization of cost of insurance acquired 307,083 317,908
Provision for deferred income taxes 3,237,621 3,756,282
Depreciation and depletion 757,782 789,739
Stock-based compensation 13,974 299,314
Charges for mortality and administration of universal life and annuity products (2,703,990) (2,737,821)
Interest credited to account balances 1,736,139 1,794,213
Change in accrued investment income 124,419 10,282
Change in reinsurance receivables 590,423 697,801
Change in policy liabilities and accruals (2,112,376) (2,173,115)
Change in income taxes receivable (215,485) 24,563
Change in other assets and liabilities, net (1,146,472) (325,402)
Net cash used in operating activities (4,313,982) (1,441,368)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 5,500,000 5,000,000
Equity securities 3,344,765 4,813,238
Trading securities 0 102,699
Mortgage loans 2,005,832 1,844,701
Notes receivable 403,484 754,667
Real estate 88,151 2,503,900
Policy loans 564,552 680,012
Short-term investments 1,000,000 22,500,000
Total proceeds from investments sold and matured 12,906,784 38,199,217
Cost of investments acquired:    
Fixed maturities available for sale (999,219) 0
Equity securities (11,149,087) (7,198,349)
Trading securities 0 (102,699)
Mortgage loans (985,812) (2,111,502)
Notes receivable (1,318,133) (800,000)
Real estate (467,299) (11,396,924)
Policy loans (423,407) (488,597)
Short-term investments 0 (950,925)
Total cost of investments acquired (15,342,957) (23,048,996)
Net cash (used in) provided by investing activities (2,436,173) 15,150,221
Cash flows from financing activities:    
Policyholder contract deposits 2,052,142 2,049,905
Policyholder contract withdrawals (1,982,984) (2,233,320)
Payments of principal on notes payable/line of credit 0 (19,000,000)
Purchase of treasury stock (203,553) (216,745)
Net cash used in financing activities (134,395) (19,400,160)
Net decrease in cash and cash equivalents (6,884,550) (5,691,307)
Cash and cash equivalents at beginning of period 45,263,967 41,185,196
Cash and cash equivalents at end of period $ 38,379,417 $ 35,493,889