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Investments (Tables)
 9 Months Ended
Sep. 30, 2022
Investments [Abstract]  
Available for Sale Securities
Investments in available for sale securities are summarized as follows:

September 30, 2022
  
Original or Amortized Cost
    
Gross Unrealized Gains
    
Gross Unrealized Losses
    
Fair Value
  
Investments available for sale:
                        
Fixed maturities
                        
U.S. Government and govt. agencies and authorities
  
$
21,313,155
    
$
0
    
$
(1,198,869
)
  
$
20,114,286
  
U.S. special revenue and assessments
    
7,536,507
      
0
      
(392,137
)
    
7,144,370
  
All other corporate bonds
    
91,550,400
      
90,639
      
(8,921,730
)
    
82,719,309
  
   
$
120,400,062
    
$
90,639
    
$
(10,512,736
)
  
$
109,977,965
  

December 31, 2021
  
Original or Amortized Cost
    
Gross Unrealized Gains
    
Gross Unrealized Losses
    
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
  
   
$
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 September 30, 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
September 30, 2022
  
Amortized Cost
    
Fair Value
  
Due in one year or less
  
$
8,496,905
    
$
8,416,295
  
Due after one year through five years
    
44,881,107
      
42,688,475
  
Due after five years through ten years
    
17,950,439
      
17,078,456
  
Due after ten years
    
22,053,354
      
18,865,205
  
Fixed maturities with no single maturity date
    
27,018,257
      
22,929,534
  
Total
  
$
120,400,062
    
$
109,977,965
  
Fair Value of Investments with Sustained Gross Unrealized Losses
The fair value of investments with sustained gross unrealized losses are as follows:

September 30, 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
  
$
20,114,286
      
(1,198,869
)
    
0
      
0
      
20,114,286
    
$
(1,198,869
)
U.S. Special Revenue and Assessments
    
7,144,370
      
(392,137
)
    
0
      
0
      
7,144,370
      
(392,137
)
All other corporate bonds
    
78,415,980
      
(8,921,730
)
    
0
      
0
      
78,415,980
      
(8,921,730
)
Total fixed maturities
  
$
105,674,636
      
(10,512,736
)
    
0
      
0
      
105,674,636
    
$
(10,512,736
)

December 31, 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
Additional information regarding investments in an unrealized loss position is as follows:

 
Less than 12 months
    
12 months or longer
    
Total
  
As of September 30, 2022
                  
Fixed maturities
    
58
      
0
      
58
  
As of December 31, 2021
                        
Fixed maturities
    
3
      
0
      
3
  
Net Investment Gains (Losses) and Change in Net Unrealized Gains (Losses) on Investments
The following table presents net investment gains (losses) and the change in net unrealized gains (losses) on investments. 

 
Three Months Ended
    
Nine Months Ended
  
   
September 30,
    
September 30,
  
   
2022
    
2021
    
2022
    
2021
  
Realized gains:
                        
Sales of fixed maturities
  
$
0
    
$
21,631
    
$
4,683
    
$
55,867
  
Sales of equity securities
    
1,485,872
      
19,344
      
1,883,453
      
3,038,551
  
Sales of real estate
    
449,133
      
104,204
      
5,020,973
      
1,487,456
  
Total realized gains
    
1,935,005
      
145,179
      
6,909,109
      
4,581,874
  
Realized losses:
                                
Sales of fixed maturities
    
0
      
0
      
(5,210
)
    
0
  
Sales of equity securities
    
0
      
(17,404
)
    
(109,636
)
    
(21,592
)
Sales of real estate
    
(34,547
)
    
0
      
(34,547
)
    
0
  
 Other-than-temporary impairments
    
0
      
18,129
      
0
      
(393,455
)
Total realized losses
    
(34,547
)
    
725
      
(149,393
)
    
(415,047
)
Net realized investment gains (losses)
    
1,900,458
      
145,904
      
6,759,716
      
4,166,827
  
Change in fair value of equity securities:
                                
Change in fair value of equity securities held at the end of the period
    
7,097,738
      
(9,380,710
)
    
14,462,029
      
10,994,305
  
Change in fair value of equity securities
    
7,097,738
      
(9,380,710
)
    
14,462,029
      
10,994,305
  
Net investment gains (losses)
  
$
8,998,196
    
$
(9,234,806
)
  
$
21,221,745
    
$
15,161,132
  
Change in net unrealized gains (losses) on available-for-sale investments included in other comprehensive income:
                                
Fixed maturities
  
$
(7,122,856
)
  
$
(1,186,410
)
  
$
(23,436,431
)
  
$
(6,161,411
)
Net increase (decrease)
  
$
(7,122,856
)
  
$
(1,186,410
)
  
$
(23,436,431
)
  
$
(6,161,411
)
Trading Revenue Charged to Investment Income from Trading Securities
Trading revenue charged to net investment income from trading securities was:

 
Three Months Ended
  
   
September 30,
  
   
2022
    
2021
  
Net unrealized gains (losses)
  
$
0
    
$
379
  
Net realized gains (losses)
    
0
      
2,056
  
Net unrealized and realized gains (losses)
  
$
0
    
$
2,435
  

 
Nine Months Ended
  
   
September 30,
  
   
2022
    
2021
  
Net unrealized gains (losses)
  
$
0
    
$
1,329
  
Net realized gains (losses)
    
(13,283
)
    
20,360
  
Net unrealized and realized gains (losses)
  
$
(13,283
)
  
$
21,689
  
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
    
6.00
%
    
4.50
%
    
6.00
%
    
4.50
%
Commercial Loans
    
6.00
%
    
4.10
%
    
5.50
%
    
4.10
%
Residential Loans
    
5.00
%
    
4.15
%
    
5.00
%
    
4.15
%
Mortgage Loan Holdings
The following table summarizes the mortgage loan holdings of the Company for the periods ended:

 
September 30, 2022
    
December 31, 2021
  
In good standing
  
$
27,424,166
    
$
27,102,789
  
Overdue interest over 90 days
    
2,080,773
      
2,080,773
  
Total mortgage loans
  
$
29,504,939
    
$
29,183,562
  
Investment Real Estate by Type
The following table provides an allocation of the Company’s investment real estate by type:

 
September 30, 2022
    
December 31, 2021
  
Raw land
  
$
12,365,607
    
$
14,538,507
  
Commercial
    
5,185,507
      
4,347,423
  
Residential
    
3,618,791
      
3,813,936
  
Land, minerals and royalty interests
    
14,778,653
      
17,048,395
  
Total investment real estate
  
$
35,948,558
    
$
39,748,261