First Trinity Financial (FTFC) 10-Q 11 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 08, 2017
Document Information [Line Items]
Entity Registrant Name	First Trinity Financial Corp.
Entity Central Index Key	1,395,585
Trading Symbol	ftfc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		7,802,593
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Investments
Available-for-sale fixed maturity securities at fair value (amortized cost: $149,863,882 and $128,310,265 as of March 31, 2017 and December 31, 2016, respectively)	$ 151,925,813	$ 129,311,155
Available-for-sale equity securities at fair value (cost: $600,529 and $599,400 as of March 31, 2017 and December 31, 2016, respectively)	657,560	638,407
Mortgage loans on real estate	86,878,848	74,371,286
Investment real estate	2,365,621	2,506,673
Policy loans	1,576,307	1,598,116
Other long-term investments	49,515,018	46,788,873
Total investments	292,919,167	255,214,510
Cash and cash equivalents	25,962,536	34,223,945
Accrued investment income	2,542,754	2,176,770
Recoverable from reinsurers	1,211,881	1,258,938
Agents' balances and due premiums	1,505,643	1,419,250
Deferred policy acquisition costs	19,906,373	18,191,990
Value of insurance business acquired	5,806,667	5,908,835
Other assets	7,977,339	14,858,375
Total assets	357,832,360	333,252,613
Policy liabilities
Policyholders' account balances	267,911,869	245,346,489
Future policy benefits	45,222,673	44,266,227
Policy claims	938,779	997,814
Other policy liabilities	80,238	69,854
Total policy liabilities	314,153,559	290,680,384
Deferred federal income taxes	993,422	693,470
Other liabilities	5,295,974	5,598,484
Total liabilities	320,442,955	296,972,338
Shareholders' equity
Common stock, par value $.01 per share (20,000,000 shares authorized, 8,050,173 issued as of March 31, 2017 and December 31, 2016 and 7,802,593 outstanding as of March 31, 2017 and December 31, 2016)	80,502	80,502
Additional paid-in capital	28,684,598	28,684,598
Treasury stock, at cost (247,580 shares as of March 31, 2017 and December 31, 2016)	(893,947)	(893,947)
Accumulated other comprehensive income	1,666,328	818,676
Accumulated earnings	7,851,924	7,590,446
Total shareholders' equity	37,389,405	36,280,275
Total liabilities and shareholders' equity	$ 357,832,360	$ 333,252,613

Consolidated Statements of Fin3

Consolidated Statements of Financial Position (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Available-for-sale fixed maturity securities at cost	$ 149,863,882	$ 128,310,265
Available-for-sale equity securities at cost	$ 600,529	$ 599,400
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	8,050,173	8,050,173
Common stock, shares outstanding (in shares)	7,802,593	7,802,593
Treasury stock, shares (in shares)	247,580	247,580

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Premiums	$ 3,621,690	$ 3,192,542
Net investment income	3,669,871	3,360,203
Net realized investment gains (losses)	166,506	(19,151)
Other income	49,892	7,313
Total revenues	7,507,959	6,540,907
Benefits and claims
Increase in future policy benefits	959,805	1,358,144
Death benefits	1,545,836	952,058
Surrenders	283,376	137,726
Interest credited to policyholders	2,035,054	1,653,720
Dividend, endowment and supplementary life contract benefits	66,973	66,058
Total benefits and claims	4,891,044	4,167,706
Policy acquisition costs deferred	(2,414,719)	(1,576,209)
Amortization of deferred policy acquisition costs	680,836	696,546
Amortization of value of insurance business acquired	102,168	90,132
Commissions	2,244,910	1,280,086
Other underwriting, insurance and acquisition expenses	1,654,203	1,534,440
Total expenses	2,267,398	2,024,995
Total benefits, claims and expenses	7,158,442	6,192,701
Income before total federal income tax expense	349,517	348,206
Current federal income tax expense		3,298
Deferred federal income tax expense	88,039	49,595
Total federal income tax expense	88,039	52,893
Net income	$ 261,478	$ 295,313
Net income per common share basic and diluted (in dollars per share)	$ 0.03	$ 0.04

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Net income		$ 261,478	$ 295,313
Other Comprehensive Income (loss)
Total net unrealized gains arising during the period		1,243,084	3,779,522
Less net realized investment gains (losses)	[1]	164,019	(22,726)
Net unrealized gains		1,079,065	3,802,248
Less adjustment to deferred acquisition costs		19,500	60,130
Other comprehensive income before income tax expense		1,059,565	3,742,118
Income tax expense		211,913	748,423
Total other comprehensive income		847,652	2,993,695
Total comprehensive income		$ 1,109,130	$ 3,289,008
[1]	These items appear within net realized investment gains (losses) in the consolidated statement of operations.

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2015	$ 80,502	$ 28,684,598	$ (893,947)	$ (2,655,817)	$ 4,999,707	$ 30,215,043
Comprehensive income:
Net income					295,313	295,313
Other comprehensive income				2,993,695		2,993,695
Balance at Mar. 31, 2016	80,502	28,684,598	(893,947)	337,878	5,295,020	33,504,051
Balance at Dec. 31, 2015	80,502	28,684,598	(893,947)	(2,655,817)	4,999,707	30,215,043
Balance at Dec. 31, 2016	80,502	28,684,598	(893,947)	818,676	7,590,446	36,280,275
Comprehensive income:
Net income					261,478	261,478
Other comprehensive income				847,652		847,652
Balance at Mar. 31, 2017	80,502	28,684,598	(893,947)	1,666,328	7,851,924	37,389,405
Balance at Dec. 31, 2016	$ 80,502	$ 28,684,598	$ (893,947)	$ 818,676	$ 7,590,446	$ 36,280,275

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net income	$ 261,478	$ 295,313
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for depreciation	36,531	36,530
Accretion of discount on investments	(685,817)	(375,081)
Net realized investment losses (gains)	(166,506)	19,151
Amortization of deferred policy acquisition costs	680,836	696,546
Policy acquisition costs deferred	(2,414,719)	(1,576,209)
Amortization of loan origination fees	14,797	7,251
Amortization of value of insurance business acquired	102,168	90,132
Allowance for mortgage loan losses	42,054	6,369
Deferred federal income tax expense	88,039	49,595
Interest credited to policyholders	2,035,054	1,653,720
Change in assets and liabilities:
Accrued investment income	(365,984)	(68,967)
Policy loans	21,809	(8,261)
Short-term investments		549,795
Recoverable from reinsurers	47,057	(8,587)
Agents' balances and due premiums	(86,393)	(66,883)
Other assets (excludes depreciation of $159 in 2017 and change in receivable for securities sold of $6,288,274 and ($1,904) in 2017 and 2016, respectively.	592,603	(1,441,577)
Future policy benefits	956,446	1,362,476
Policy claims	(59,035)	90,501
Other policy liabilities	10,384	(2,972)
Other liabilities (exclude change in payable for securities purchased of ($17,569) and $40,907 in 2017 and 2016, respectively.	(284,941)	757,093
Net cash provided by operating activities	825,861	2,065,935
Investing activities
Purchases of fixed maturity securities available-for-sale	(26,056,647)	(2,222,996)
Maturities of fixed maturity securities available-for-sale	2,770,000	1,138,000
Sales of fixed maturity securities available-for-sale	1,679,231	1,136,413
Purchases of equity securities available-for-sale	(1,129)	(4,552)
Sales of equity securities available-for-sale		108,800
Purchases of mortgage loans	(17,643,638)	(3,710,052)
Payments on mortgage loans	5,125,389	1,572,244
Purchases of other long-term investments	(3,648,817)	(2,024,317)
Payments on other long-term investments	1,780,143	1,141,454
Sale of real estate	107,167
Net change in receivable and payable for securities sold and purchased	6,270,705	39,003
Net cash used in investing activities	(29,617,596)	(2,826,003)
Financing activities
Policyholders' account deposits	25,052,131	5,326,249
Policyholders' account withdrawals	(4,521,805)	(3,912,525)
Net cash provided by financing activities	20,530,326	1,413,724
Increase (decrease) in cash	(8,261,409)	653,656
Cash and cash equivalents, beginning of period	34,223,945	9,047,586
Cash and cash equivalents, end of period	$ 25,962,536	$ 9,701,242

Consolidated Statements of Cas8

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Depreciation	$ 159
Change in receivable for securities sold	6,288,274	$ (1,904)
Change in payable for securities purchased	$ (17,569)	$ 40,907

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Organization and Significant Accounting Policies Nature of Operations First Trinity Financial Corporation (the “Company” or “FTFC”) is the parent holding company of Trinity Life Insurance Company (“TLIC”), Family Benefit Life Insurance Company (“FBLIC”) and First Trinity Capital Corporation (“FTCC”). The Company was incorporated in Oklahoma on April 19, 2004, The Company owns 100% 100% 10, 15, 20 30 The Company owns 100% 2006, January 2007. June 30, 2012. Company Capitalization The Company raised $1,450,000 two 2004 $25,669,480 two one June 22, 2005 February 23, 2007; June 29, 2010 April 30, 2012 August 15, 2012 March 8, 2013. 7,347,488 $3,624,518 702,685 two 2011 2012 $5,270,138 $5,270,138 The Company has also purchased 247,580 $893,947 Acquisition s On December 23, 2008, 100% $2,695,234 $195,234. On December 31, 2008, 15 $250,000 6% On August 31, 2009, two On December 28, 2011, 100% $13,855,129. On April 28, 2015, $3,644,839 $3,055,916 $588,923. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10 10 The results of operations for the three March 31, 2017 December 31, 2017 10 December 31, 2016. Principles of Consolidation The consolidated financial statements include the accounts and operations of the Company and its subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. Reclassifications Certain reclassifications have been made in the prior year and prior quarter financial statements to conform to current year and current quarter classifications. These reclassifications had no effect on previously reported net income or shareholders' equity. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may may Common Stock Common stock is fully paid, non-assessable and has a par value of $.01 Treasury Stock Treasury stock, representing shares of the Company’s common stock that have been reacquired after having been issued and fully paid, is recorded at the reacquisition cost and the shares are no longer outstanding. Subsequent Events Management has evaluated all events subsequent to March 31, 2017 Recent Accounting Pronouncements Revenue from Contracts with Customers In May 2014, (1) (2) (3) (4) (5) In July 2015, one March 31, 2018. Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern In August 2014, one If conditions or events raise substantial doubt that is not alleviated, an entity should disclose that there is substantial doubt about the entity's ability to continue as a going concern within one The guidance is effective for annual periods ending after December 15, 2016, Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, This guidance is effective for fiscal years beginning after December 15, 2017. Leases In February 2016, If the lease has a term of 12 The accounting applied by the lessor is largely unchanged from that applied under previous U.S. GAAP. Key aspects of the lessor accounting model, however, were aligned with the revenue recognition guidance of Codification Topic 606. 2016 02 842). Entities will generally continue to account for leases that commenced before the effective date of this update in accordance with previous U.S. GAAP unless the lease is modified. Lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimal rental payments that were tracked and disclosed under previous U.S. GAAP. The updated guidance is to be applied using a modified retrospective approach effective for annual and interim periods beginning after December 15, 2018. Investments — Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting In March 2016, December 15, 2016, Derivatives and Hedging: Contingent Put and Call Options in Debt Instruments In March 2016, December 15, 2016. Financial Instruments — Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In August 2016, eight December 15, 2017, Consolidation – Interests Held through Related Parties that Are Under Common Control In October 2016, December 15, 2016, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In November 2016, December 15, 2017, Business Combinations – Clarifying the Definition of a Business In January 2017, The updated guidance is effective for annual and interim periods beginning after December 15, 2017, Intangibles – Goodwill and Other - Simplifying the Test for Goodwill Impairment In January 2017, December 15, 2017, January 1, 2017. Compensation — Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, employer service cost component be reported in the same lines as other employee compensation cost and that the other components (non-service costs) be presented separately from the service cost and outside of a subtotal of income from operations if one The updated guidance is effective for reporting periods beginning after December 15, 2017. first

Note 2 - Investments

Note 2 - Investments	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	2. Investments Fixed Maturity and Equity Securities Available-For-Sale Investments in fixed maturity and equity securities available-for-sale as of March 31, 2017 December 31, 2016 Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value March 31, 2017 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 3,375,460 $ 88,510 $ 68,402 $ 3,395,568 States and political subdivisions 9,602,066 167,836 50,211 9,719,691 Residential mortgage-backed securities 33,938 36,689 - 70,627 Corporate bonds 116,778,608 2,713,348 1,202,824 118,289,132 Foreign bonds 20,073,810 544,739 167,754 20,450,795 Total fixed maturity securities 149,863,882 3,551,122 1,489,191 151,925,813 Equity securities Mutual funds 345,607 805 - 346,412 Corporate preferred stock 99,945 2,015 - 101,960 Corporate common stock 154,977 54,211 - 209,188 Total equity securities 600,529 57,031 - 657,560 Total fixed maturity and equity securities $ 150,464,411 $ 3,608,153 $ 1,489,191 $ 152,583,373 December 31, 2016 Fixed maturity securities U.S. government and U.S. government agencies $ 3,157,889 $ 99,086 $ 71,592 $ 3,185,383 States and political subdivisions 9,172,533 144,947 66,584 9,250,896 Residential mortgage-backed securities 33,970 36,757 - 70,727 Corporate bonds 100,268,424 2,324,712 1,613,095 100,980,041 Foreign bonds 15,677,449 394,742 248,083 15,824,108 Total fixed maturity securities 128,310,265 3,000,244 1,999,354 129,311,155 Equity securities Mutual funds 344,783 - 2,869 341,914 Corporate preferred stock 99,945 - 3,585 96,360 Corporate common stock 154,672 45,461 - 200,133 Total equity securities 599,400 45,461 6,454 638,407 Total fixed maturity and equity securities $ 128,909,665 $ 3,045,705 $ 2,005,808 $ 129,949,562 All securities in an unrealized loss position as of the financial statement dates, the estimated fair value, pre-tax gross unrealized loss and number of securities by length of time that those securities have been continuously in an unrealized loss position as of March 31, 2017 December 31, 2016 Unrealized Number of Fair Value Loss Securities March 31, 2017 (Unaudited) Fixed maturity securities Less than 12 months U.S. government and U.S. government agencies $ 2,086,562 $ 68,402 7 States and political subdivisions 2,518,618 50,211 13 Corporate bonds 26,306,196 480,601 85 Foreign bonds 3,271,284 105,406 12 Total less than 12 months 34,182,660 704,620 117 More than 12 months Corporate bonds 7,317,575 722,223 36 Foreign bonds 1,021,479 62,348 6 Total more than 12 months 8,339,054 784,571 42 Total fixed maturity securities $ 42,521,714 $ 1,489,191 159 December 31, 2016 Fixed maturity securities Less than 12 months U.S. government and U.S. government agencies $ 1,878,308 $ 71,592 6 States and political subdivisions 2,532,653 66,584 14 Corporate bonds 23,721,217 696,066 92 Foreign bonds 5,087,133 155,833 16 Total less than 12 months 33,219,311 990,075 128 More than 12 months Corporate bonds 8,004,923 917,029 36 Foreign bonds 1,024,548 92,250 6 Total more than 12 months 9,029,471 1,009,279 42 Total fixed maturity securities 42,248,782 1,999,354 170 Equity securities Less than 12 months Corporate preferred stock 96,360 3,585 2 Total less than 12 months 96,360 3,585 2 More than 12 months Mutual funds 89,113 2,869 1 Total more than 12 months 89,113 2,869 1 Total equity securities 185,473 6,454 3 Total fixed maturity and equity securities $ 42,434,255 $ 2,005,808 173 As of March 31, 2017, 159 $1,489,191, $42,521,714 $44,010,905. March 31, 2017. 159 97%. As of December 31, 2016, 170 $1,999,354, $42,248,782 $44,248,136. December 31, 2016. 170 95%. As of March 31, 2017, As of December 31, 2016, three $6,454, $185,473 $191,927. 97%. Fixed maturity securities were 93% 92% March 31, 2017 December 31, 2016, The Company’s decision to record an impairment loss is primarily based on whether the security’s fair value is likely to remain significantly below its book value based on all of the factors considered. Factors that are considered include the length of time the security’s fair value has been below its carrying amount, the severity of the decline in value, the credit worthiness of the issuer, and the coupon and/or dividend payment history of the issuer. The Company also assesses whether it intends to sell or whether it is more likely than not that it may For any fixed maturity securities that are other-than-temporarily impaired, the Company determines the portion of the other-than-temporary impairment that is credit-related and the portion that is related to other factors. The credit-related portion is the difference between the expected future cash flows and the amortized cost basis of the fixed maturity security, and that difference is charged to earnings. The non-credit-related portion representing the remaining difference to fair value is recognized in other comprehensive income (loss). Only in the case of a credit-related impairment where management has the intent to sell the security, or it is more likely than not that it will be required to sell the security before recovery of its cost basis, is a fixed maturity security adjusted to fair value and the resulting losses recognized in realized gains (losses) in the consolidated statements of operations. Any other-than-temporary impairments on equity securities are recorded in the consolidated statements of operations in the periods incurred as the difference between fair value and cost. There were no impairments during the three March 31, 2017 2016. The Company recorded one fourth 2016. fourth 2016, $650,000 $207,450 December 31, 2016. The Company experienced no additional other-than-temporary impairments on fixed maturity available-for-sale securities during 2016. Management believes that the Company will fully recover its cost basis in the securities held as of March 31, 2017, Net unrealized gains included in other comprehensive income for investments classified as available-for-sale, net of the effect of deferred income taxes and deferred acquisition costs assuming that the appreciation had been realized as of March 31, 2017 December 31, 2016, (Unaudited) March 31, 2017 December 31, 2016 Unrealized appreciation on available-for-sale securities $ 2,118,962 $ 1,039,897 Adjustment to deferred acquisition costs (36,053 ) (16,553 ) Deferred income taxes (416,581 ) (204,668 ) Net unrealized appreciation on available-for-sale securities $ 1,666,328 $ 818,676 The Company’s investment in lottery prize cash flows categorized as other long-term investments in the statement of financial position was $49,515,018 $46,788,873 March 31, 2017 December 31, 2016, The amortized cost and fair value of fixed maturity available-for-sale securities and other long-term investments as of March 31, 2017, March 31, 2017 (Unaudited) Fixed Maturity Available-For-Sale Securities Other Long-Term Investments Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 8,564,969 $ 8,646,613 $ 6,978,927 $ 7,081,822 Due after one year through five years 31,765,292 32,499,328 19,501,912 21,055,897 Due after five years through ten years 42,243,357 43,132,728 13,854,164 16,558,746 Due after ten years 67,256,326 67,576,517 9,180,015 14,151,045 Due at multiple maturity dates 33,938 70,627 - - $ 149,863,882 $ 151,925,813 $ 49,515,018 $ 58,847,510 Expected maturities will differ from contractual maturities because borrowers may Proceeds and gross realized gains (losses) from the sales, calls and maturities of fixed maturity securities available-for-sale, equity securities available-for-sale, mortgage loans on real estate and investment real estate for the three March 31, 2017 2016 Three Months Ended March 31, (Unaudited) Fixed Maturity Securities Equity Securities Mortgage Loans on Real Estate Investment Real Estate 2017 2016 2017 2016 2017 2016 2017 2016 Proceeds $ 4,449,231 $ 2,274,413 $ - $ 108,800 $ 5,125,389 $ 1,572,244 $ 107,167 $ - Gross realized gains 171,105 7,094 - - - 3,575 2,487 - Gross realized losses (7,086 ) (28,352 ) - (1,468 ) - - - - three March 31, 2017 2016 three March 31, 2017 2016 Major categories of net investment income for the three March 31, 2017 2016 Three Months Ended March 31, (Unaudited) 2017 2016 Fixed maturity securities $ 1,490,370 $ 1,567,218 Equity securities 5,072 7,182 Other long-term investments 857,470 547,822 Mortgage loans 1,667,394 1,353,071 Policy loans 27,564 26,098 Real estate 93,711 91,968 Short-term and other investments 110,286 72,270 Gross investment income 4,251,867 3,665,629 Investment expenses (581,996 ) (305,426 ) Net investment income $ 3,669,871 $ 3,360,203 TLIC and FBLIC are required to hold assets on deposit with various state insurance departments for the benefit of policyholders and other special deposits in accordance with statutory rules and regulations. As of March 31, 2017 December 31, 2016, $4,107,553 $4,099,405, As of March 31, 2017 December 31, 2016, $4,132,879 $4,125,116, The Company’s mortgage loans by property type as of March 31, 2017 December 31, 2016 (Unaudited) March 31, 2017 December 31, 2016 Commercial mortgage loans Retail stores $ 1,055,651 $ 1,075,324 Office buildings 177,494 179,484 Total commercial mortgage loans 1,233,145 1,254,808 Residential mortgage loans 85,645,703 73,116,478 Total mortgage loans $ 86,878,848 $ 74,371,286 The Company’s investment real estate as of March 31, 2017 December 31, 2016 (Unaudited) March 31, 2017 December 31, 2016 Land - held for the production of income $ 213,160 $ 213,160 Land - held for investment 745,155 745,155 Total land 958,315 958,315 Building - held for the production of income 2,267,557 2,267,557 Less - accumulated depreciation (1,086,067 ) (1,049,695 ) Buildings net of accumulated depreciation 1,181,490 1,217,862 Residential real estate - held for sale 225,816 330,496 Total residential real estate 225,816 330,496 Investment real estate, net of accumulated depreciation $ 2,365,621 $ 2,506,673 TLIC owns approximately six one 20,000 one fourth one four three one fourth 2016 $4,892 During 2016 seven $394,427 November 30, 2016, one $63,931. $20,662 $43,269. During 2017, $104,680. $2,487 $107,167.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) on the measurement date. The Company also considers the impact on fair value of a significant decrease in volume and level of activity for an asset or liability when compared with normal activity. The Company holds fixed maturity and equity securities that are measured and reported at fair market value on the statement of financial position. The Company determines the fair market values of its financial instruments based on the fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three may Level 1 1 Level 2 1 2 Level 3 3 The Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into the three A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the valuation inputs, or their ability to be observed, may 3 3 The Company’s fair value hierarchy for those financial instruments measured at fair value on a recurring basis as of March 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Total March 31, 2017 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 3,395,568 $ - $ 3,395,568 States and political subdivisions - 9,719,691 - 9,719,691 Residential mortgage-backed securities - 70,627 - 70,627 Corporate bonds - 118,289,132 - 118,289,132 Foreign bonds - 20,450,795 - 20,450,795 Total fixed maturity securities $ - $ 151,925,813 $ - $ 151,925,813 Equity securities, available-for-sale Mutual funds $ - $ 346,412 $ - $ 346,412 Corporate preferred stock 101,960 - - 101,960 Corporate common stock 147,688 - 61,500 209,188 Total equity securities $ 249,648 $ 346,412 $ 61,500 $ 657,560 December 31, 2016 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 3,185,383 $ - $ 3,185,383 States and political subdivisions - 9,250,896 - 9,250,896 Residential mortgage-backed securities - 70,727 - 70,727 Corporate bonds - 100,980,041 - 100,980,041 Foreign bonds - 15,824,108 - 15,824,108 Total fixed maturity securities $ - $ 129,311,155 $ - $ 129,311,155 Equity securities, available-for-sale Mutual funds $ - $ 341,914 $ - $ 341,914 Corporate preferred stock 96,360 - - 96,360 Corporate common stock 138,633 - 61,500 200,133 Total equity securities $ 234,993 $ 341,914 $ 61,500 $ 638,407 As of March 31, 2017 December 31, 2016, 3 two These private placement stocks represent investments in small insurance holding companies. The fair value for these securities was determined through the use of unobservable assumptions about market participants. The Company has assumed a willing market participant would purchase the securities for the same price as the Company paid until such time as these small insurance holding companies commence operations. Fair values for Level 1 2 third third The Company analyzes market valuations received to verify reasonableness and to understand the key assumptions used and the sources. Since the fixed maturity securities owned by the Company do not trade on a daily basis, the third 2 2 The Company’s equity securities are included in Level 1 2 3. 1 2 The Company’s fixed maturity and equity securities available-for-sale portfolio is highly liquid and allows for a high percentage of the portfolio to be priced through pricing services. The carrying amount and fair value of the Company’s financial assets and financial liabilities disclosed, but not carried, at fair value as of March 31, 2017 December 31, 2016, Financial Instruments Disclosed, But Not Carried, at Fair Value: Carrying Fair Amount Value Level 1 Level 2 Level 3 March 31, 2017 (Unaudited) Financial assets Mortgage loans on real estate Commercial $ 1,233,145 $ 1,245,615 $ - $ - $ 1,245,615 Residential 85,645,703 86,519,153 - - 86,519,153 Policy loans 1,576,307 1,576,307 - - 1,576,307 Other long-term investments 49,515,018 58,847,510 - - 58,847,510 Cash and cash equivalents 25,962,536 25,962,536 25,962,536 - - Accrued investment income 2,542,754 2,542,754 - - 2,542,754 Total financial assets $ 166,475,463 $ 150,458,439 $ 25,962,536 $ - $ 124,495,903 Financial liabilities Policyholders' account balances $ 267,911,869 $ 226,181,661 $ - $ - $ 226,181,661 Policy claims 938,779 938,779 - - 938,779 Total financial liabilities $ 268,850,648 $ 185,368,033 $ - $ - $ 185,368,033 December 31, 2016 Financial assets Mortgage loans on real estate Commercial $ 1,254,808 $ 1,268,140 $ - $ - $ 1,268,140 Residential 73,116,478 70,383,661 - - 70,383,661 Policy loans 1,598,116 1,598,116 - - 1,598,116 Other long-term investments 46,788,873 55,890,429 - - 55,890,429 Cash and cash equivalents 34,223,945 34,223,945 34,223,945 - - Accrued investment income 2,176,770 2,176,770 - - 2,176,770 Total financial assets $ 159,158,990 $ 165,541,061 $ 34,223,945 $ - $ 131,317,116 Financial liabilities Policyholders' account balances $ 245,346,489 $ 206,541,702 $ - $ - $ 206,541,702 Policy claims 997,814 997,814 - - 997,814 Total financial liabilities $ 246,344,303 $ 207,539,516 $ - $ - $ 207,539,516 The estimated fair value amounts have been determined using available market information and appropriate valuation methodologies. However, considerable judgment was required to interpret market data to develop these estimates. Accordingly, the estimates are not necessarily indicative of the amounts which could be realized in a current market exchange. The use of different market assumptions or estimation methodologies may The following methods and assumptions were used in estimating the fair value disclosures for financial instruments in the accompanying financial statements and notes thereto: Fixed Maturity Securities and Equity Securities The fair value of fixed maturity securities and equity securities are based on the principles previously discussed as Level 1, 2 3. Mortgage Loans on Real Estate The fair values for mortgage loans are estimated using discounted cash flow analyses. For residential mortgage loans, the discount rate used was indexed to the LIBOR yield curve adjusted for an appropriate credit spread. For commercial mortgage loans, the discount rate used was assumed to be the interest rate on the last commercial mortgage acquired by the Company. Cash and Cash Equivalents, Accrued Investment Income and Policy Loans The carrying value of these financial instruments approximates their fair values. Cash and cash equivalents are included in Level 1 Other Long-Term Investments Other long-term investments are comprised of lottery prize receivables and fair value is derived by using a discounted cash flow approach. Projected cash flows are discounted using the average Citigroup Pension Liability Index in effect at the end of each period. Investment Contracts – Policyholders’ Account Balances The fair value for liabilities under investment-type insurance contracts (accumulation annuities) is calculated using a discounted cash flow approach. Cash flows are projected using actuarial assumptions and discounted to the valuation date using risk-free rates adjusted for credit risk and the nonperformance risk of the liabilities. The fair values for insurance contracts other than investment-type contracts are not required to be disclosed. Policy Claims The carrying amounts reported for these liabilities approximate their fair value.

Note 4 - Segment Data

Note 4 - Segment Data	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	4. Segment Data The Company has a life insurance segment, consisting of the life insurance operations of TLIC and FBLIC, an annuity segment, consisting of the annuity operations of TLIC and FBLIC and a corporate segment. Results for the parent company and the operations of FTCC, after elimination of intercompany amounts, are allocated to the corporate segment . These segments as of March 31, 2017 December 31, 2016 for the three March 31, 2017 2016 Three Months Ended March 31, (Unaudited) 2017 2016 Revenues: Life insurance operations $ 4,184,653 $ 3,745,244 Annuity operations 3,188,969 2,637,424 Corporate operations 134,337 158,239 Total $ 7,507,959 $ 6,540,907 Income before income taxes: Life insurance operations $ 117,848 $ 29,953 Annuity operations 160,414 228,256 Corporate operations 71,255 89,997 Total $ 349,517 $ 348,206 Depreciation and amortization expense: Life insurance operations $ 414,284 $ 674,547 Annuity operations 420,048 155,912 Corporate operations - - Total $ 834,332 $ 830,459 (Unaudited) March 31, 2017 December 31, 2016 Assets: Life insurance operations $ 51,429,483 $ 50,577,282 Annuity operations 299,630,314 275,745,766 Corporate operations 6,772,563 6,929,565 Total $ 357,832,360 $ 333,252,613

Note 5 - Federal Income Taxes

Note 5 - Federal Income Taxes	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	5. Federal Income Taxes The provision for federal income taxes is based on the asset and liability method of accounting for income taxes. Deferred income taxes are provided for the cumulative temporary differences between balances of assets and liabilities determined under GAAP and the balances using tax bases. A valuation allowance has been established due to the uncertainty of certain loss carry forwards. The Company has no known uncertain tax benefits within its provision for income taxes. In addition, the Company does not believe it would be subject to any penalties or interest relative to any open tax years and, therefore, has not accrued any such amounts. The Company files U.S. federal income tax returns and income tax returns in various state jurisdictions. The 2013 2016

Note 6 - Legal Matters and Cont

Note 6 - Legal Matters and Contingent Liabilities	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Contingencies Disclosure [Text Block]	6 . Legal Matters and Contingent Liabilities A lawsuit filed by the Company and Chairman, President and Chief Executive Officer, Gregg E. Zahn, against former Company Board of Directors member Wayne Pettigrew and Mr. Pettigrew's company, Group & Pension Planners, Inc. (the "Defendants"), concluded on February 17, 2017. 2013 03385). The jury concluded that Mr. Pettigrew, while still a member of the Company’s Board of Directors, did, in fact, make untrue statements regarding the Company and Mr. Zahn and committed breaches of his fiduciary duties to the Company and awarded it $800,000 $3,500,000 Mr. Pettigrew can appeal this decision by the jury that will require him to post a bond in the amount of the total judgment of $4,300,000. In addition to the damages awarded by the jury, the Company and Mr. Zahn have initiated steps to aggressively communicate the correction of the untrue statements to outside parties. Prior to its acquisition by TLIC, FBLIC developed, marketed, and sold life insurance products known as “Decreasing Term to 95” January 17, 2013, March 1, 2013, 95 November 22, 2013, three 95 95 On June 18, 2015, 95 one 95 first 95 one The main difference between the original Petition and the amended Petition is that the amended Petition also seeks equitable relief based on two 95 95 (1) 95 376.360 (2) void (3) 95 On February 1, 2016, $2,548,939 95 July 21, 2016, three 95 On August 1, 2016, On May 13, 2015, April 29, 2015, 95 On September 28, 2015, tender As stated above, FBLIC filed a Counterclaim and TLIC filed the Federal Lawsuit against Doyle Nimmo. Doyle Nimmo submitted a claim and tendered November 4, 2015, November 27, 2017. Guaranty fund assessments, brought about by the insolvency of life and health insurers, are levied at the discretion of the various state guaranty fund associations to cover association obligations. In most states, guaranty fund assessments may five

Note 7 - Other Comprehensive In

Note 7 - Other Comprehensive Income and Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	7 . Other Comprehensive Income and Accumulated O ther Comprehensive Income The changes in the components of the Company’s accumulated other comprehensive income for the three March 31, 2017 2016 Three Months Ended March 31, 2017 and 2016 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of January 1, 2017 $ 831,917 $ (13,241 ) $ 818,676 Other comprehensive income before reclassifications, net of tax 994,467 (15,600 ) 978,867 Less amounts reclassified from accumulated other comprehensive income, net of tax 131,215 - 131,215 Other comprehensive income 863,252 (15,600 ) 847,652 Balance as of March 31, 2017 $ 1,695,169 $ (28,841 ) $ 1,666,328 Balance as of January 1, 2016 $ (2,695,876 ) $ 40,059 $ (2,655,817 ) Other comprehensive income before reclassifications, net of tax 3,023,618 (48,104 ) 2,975,514 Less amounts reclassified from accumulated other comprehensive income, net of tax (18,181 ) - (18,181 ) Other comprehensive income 3,041,799 (48,104 ) 2,993,695 Balance as of March 31, 2016 $ 345,923 $ (8,045 ) $ 337,878 The pretax components of the Company’s other comprehensive income and the related income tax expense for each component for the three March 31, 2017 2016 Income Tax Pretax Expense Net of Tax Three Months Ended March 31, 2017 (Unaudited) Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 1,243,084 $ 248,617 $ 994,467 Reclassification adjustment for net gains included in operations 164,019 32,804 131,215 Net unrealized gains on investments 1,079,065 215,813 863,252 Adjustment to deferred acquisition costs (19,500 ) (3,900 ) (15,600 ) Total other comprehensive income $ 1,059,565 $ 211,913 $ 847,652 Three Months Ended March 31, 2016 (Unaudited) Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 3,779,522 $ 755,904 $ 3,023,618 Reclassification adjustment for net losses included in operations (22,726 ) (4,545 ) (18,181 ) Net unrealized gains on investments 3,802,248 760,449 3,041,799 Adjustment to deferred acquisition costs (60,130 ) (12,026 ) (48,104 ) Total other comprehensive income $ 3,742,118 $ 748,423 $ 2,993,695 Realized gains and losses on the sales of investments are determined based upon the specific identification method and include provisions for other-than-temporary impairments where appropriate. The pretax and the related income tax components of the amounts reclassified from the Company’s accumulated other comprehensive income to the Company’s consolidated statement of operations for the three March 31, 2017 2016 Three Months Ended March 31, (Unaudited) Reclassification Adjustments 2017 2016 Unrealized gains on available-for-sale securities: Realized gains (losses) on sales of securities (a) $ 164,019 $ (22,726 ) Income tax expense (benefit) (b) 32,804 (4,545 ) Total reclassification adjustments $ 131,215 $ (18,181 ) (a) These items appear within net realized investment gains (losses) in the consolidated statement of operations. (b) These items appear within federal income taxes in the consolidated statement of operations.

Note 8 - Allowance for Loan Los

Note 8 - Allowance for Loan Losses From Mortgage Loans On Real Estate and Loans From Premium Financing	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Premiums Receivable Note [Text Block]	8 . Allowance for Loan Losses from Mortgage Loans on Real Estate and Loans from Premium Financing The allowance for possible loan losses from investments in mortgage loans on real estate and loans from premium financing is a reserve established through a provision for possible loan losses charged to expense which represents, in the Company’s judgment, the known and inherent credit losses existing in the residential and commercial mortgage loan and premium financing loan portfolios. The allowance, in the judgment of the Company, is necessary to reserve for estimated loan losses inherent in the residential and commercial mortgage loan and premium finance loan portfolios and reduces the carrying value of investments in mortgage loans on real estate and premium finance loans to the estimated net realizable value on the consolidated statement of financial position. While the Company utilizes its best judgment and information available, the ultimate adequacy of the allowance is dependent upon a variety of factors beyond the Company’s control, including the performance of the residential and commercial mortgage loan and premium finance loan portfolios, the economy and changes in interest rates. The Company’s allowance for possible mortgage loan and premium finance loan losses consists of specific valuation allowances established for probable losses on specific loans and a portfolio reserve for probable incurred but not specifically identified loans. Mortgage loans and premium finance loans are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the mortgage loan or premium finance loan agreement. Factors considered by the Company in determining impairment include payment status, collateral value of the real estate subject to the mortgage loan, and the probability of collecting scheduled principal and interest payments when due. Mortgage loans and premium finance loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Company determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the mortgage loan or premium finance loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis. As of March 31, 2017, $544,016 third March 31, 2017, $148,387 $29,677,438 one . In addition, the Company has an additional $286,481 $57,201,410 March 31, 2017. As of December 31, 2016, $525,063 third $25,523,757 one $244,427 $48,847,529 December 31, 2016. Through June 30, 2012, 80% 20% 25 As of December 31, 2016 December 2016, June 30, 2012. The balances of and changes in the Company’s credit losses related to mortgage loans on real estate and loans from premium financing as of and for the three March 31, 2017 2016 $29,677,438 $22,649,615 March 31, 2017 2016, one third As of and for the Three Months Ended March 31, (Unaudited) Residential Mortgage Loans Commercial Mortgage Loans Premium Finance Loans Total 2017 2016 2017 2016 2017 2016 2017 2016 Allowance, beginning $ 238,121 $ 175,988 $ 6,306 $ 7,360 $ - $ 197,172 $ 244,427 $ 380,520 Charge offs - - - - - - - - Recoveries - - - - - - - - Provision 42,163 6,484 (109 ) (115 ) - (4,482 ) 42,054 1,887 Allowance, ending $ 280,284 $ 182,472 $ 6,197 $ 7,245 $ - $ 192,690 $ 286,481 $ 382,407 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ 192,690 $ - $ 192,690 Collectively evaluated for impairment $ 280,284 $ 182,472 $ 6,197 $ 7,245 $ - $ - $ 286,481 $ 189,717 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ 347,885 $ - $ 347,885 Collectively evaluated for impairment $ 55,968,265 $ 36,840,353 $ 1,233,145 $ 1,441,814 $ - $ - $ 57,201,410 $ 38,282,167 The Company utilizes the ratio of the carrying value of individual residential and commercial mortgage loans compared to the individual appraisal value to evaluate the credit quality of its mortgage loans on real estate (commonly referred to as the loan-to-value ratio). The Company’s residential and commercial mortgage loans on real estate by credit quality using this ratio as of March 31, 2017 December 31, 2016 Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Over 70% to 80% $ 15,380,587 $ 14,559,541 $ - $ - $ 15,380,587 $ 14,559,541 Over 60% to 70% 32,049,451 29,738,887 - - 32,049,451 29,738,887 Over 50% to 60% 21,712,187 15,440,364 1,040,222 1,051,155 22,752,409 16,491,519 Over 40% to 50% 12,345,596 10,399,031 - - 12,345,596 10,399,031 Over 30% to 40% 2,276,132 2,184,351 192,923 203,653 2,469,055 2,388,004 Over 20% to 30% 1,544,076 467,410 - - 1,544,076 467,410 Over 10% to 20% 333,013 317,936 - - 333,013 317,936 10% or less 4,661 8,958 - - 4,661 8,958 Total $ 85,645,703 $ 73,116,478 $ 1,233,145 $ 1,254,808 $ 86,878,848 $ 74,371,286

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Stockholders' Equity, Policy [Policy Text Block]	Company Capitalization The Company raised $1,450,000 two 2004 $25,669,480 two one June 22, 2005 February 23, 2007; June 29, 2010 April 30, 2012 August 15, 2012 March 8, 2013. 7,347,488 $3,624,518 702,685 two 2011 2012 $5,270,138 $5,270,138 The Company has also purchased 247,580 $893,947
Business Combinations Policy [Policy Text Block]	Acquisition s On December 23, 2008, 100% $2,695,234 $195,234. On December 31, 2008, 15 $250,000 6% On August 31, 2009, two On December 28, 2011, 100% $13,855,129. On April 28, 2015, $3,644,839 $3,055,916 $588,923.
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10 10 The results of operations for the three March 31, 2017 December 31, 2017 10 December 31, 2016.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts and operations of the Company and its subsidiaries. All intercompany accounts and transactions are eliminated in consolidation.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain reclassifications have been made in the prior year and prior quarter financial statements to conform to current year and current quarter classifications. These reclassifications had no effect on previously reported net income or shareholders' equity.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may may
Common Stock Policy [Policy Text Block]	Common Stock Common stock is fully paid, non-assessable and has a par value of $.01
Treasury Stock [Policy Text Block]	Treasury Stock Treasury stock, representing shares of the Company’s common stock that have been reacquired after having been issued and fully paid, is recorded at the reacquisition cost and the shares are no longer outstanding.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events Management has evaluated all events subsequent to March 31, 2017
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Revenue from Contracts with Customers In May 2014, (1) (2) (3) (4) (5) In July 2015, one March 31, 2018. Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern In August 2014, one If conditions or events raise substantial doubt that is not alleviated, an entity should disclose that there is substantial doubt about the entity's ability to continue as a going concern within one The guidance is effective for annual periods ending after December 15, 2016, Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, This guidance is effective for fiscal years beginning after December 15, 2017. Leases In February 2016, If the lease has a term of 12 The accounting applied by the lessor is largely unchanged from that applied under previous U.S. GAAP. Key aspects of the lessor accounting model, however, were aligned with the revenue recognition guidance of Codification Topic 606. 2016 02 842). Entities will generally continue to account for leases that commenced before the effective date of this update in accordance with previous U.S. GAAP unless the lease is modified. Lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimal rental payments that were tracked and disclosed under previous U.S. GAAP. The updated guidance is to be applied using a modified retrospective approach effective for annual and interim periods beginning after December 15, 2018. Investments — Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting In March 2016, December 15, 2016, Derivatives and Hedging: Contingent Put and Call Options in Debt Instruments In March 2016, December 15, 2016. Financial Instruments — Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In August 2016, eight December 15, 2017, Consolidation – Interests Held through Related Parties that Are Under Common Control In October 2016, December 15, 2016, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In November 2016, December 15, 2017, Business Combinations – Clarifying the Definition of a Business In January 2017, The updated guidance is effective for annual and interim periods beginning after December 15, 2017, Intangibles – Goodwill and Other - Simplifying the Test for Goodwill Impairment In January 2017, December 15, 2017, January 1, 2017. Compensation — Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, employer service cost component be reported in the same lines as other employee compensation cost and that the other components (non-service costs) be presented separately from the service cost and outside of a subtotal of income from operations if one The updated guidance is effective for reporting periods beginning after December 15, 2017. first

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value March 31, 2017 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 3,375,460 $ 88,510 $ 68,402 $ 3,395,568 States and political subdivisions 9,602,066 167,836 50,211 9,719,691 Residential mortgage-backed securities 33,938 36,689 - 70,627 Corporate bonds 116,778,608 2,713,348 1,202,824 118,289,132 Foreign bonds 20,073,810 544,739 167,754 20,450,795 Total fixed maturity securities 149,863,882 3,551,122 1,489,191 151,925,813 Equity securities Mutual funds 345,607 805 - 346,412 Corporate preferred stock 99,945 2,015 - 101,960 Corporate common stock 154,977 54,211 - 209,188 Total equity securities 600,529 57,031 - 657,560 Total fixed maturity and equity securities $ 150,464,411 $ 3,608,153 $ 1,489,191 $ 152,583,373 December 31, 2016 Fixed maturity securities U.S. government and U.S. government agencies $ 3,157,889 $ 99,086 $ 71,592 $ 3,185,383 States and political subdivisions 9,172,533 144,947 66,584 9,250,896 Residential mortgage-backed securities 33,970 36,757 - 70,727 Corporate bonds 100,268,424 2,324,712 1,613,095 100,980,041 Foreign bonds 15,677,449 394,742 248,083 15,824,108 Total fixed maturity securities 128,310,265 3,000,244 1,999,354 129,311,155 Equity securities Mutual funds 344,783 - 2,869 341,914 Corporate preferred stock 99,945 - 3,585 96,360 Corporate common stock 154,672 45,461 - 200,133 Total equity securities 599,400 45,461 6,454 638,407 Total fixed maturity and equity securities $ 128,909,665 $ 3,045,705 $ 2,005,808 $ 129,949,562
Schedule of Unrealized Loss on Investments [Table Text Block]	Unrealized Number of Fair Value Loss Securities March 31, 2017 (Unaudited) Fixed maturity securities Less than 12 months U.S. government and U.S. government agencies $ 2,086,562 $ 68,402 7 States and political subdivisions 2,518,618 50,211 13 Corporate bonds 26,306,196 480,601 85 Foreign bonds 3,271,284 105,406 12 Total less than 12 months 34,182,660 704,620 117 More than 12 months Corporate bonds 7,317,575 722,223 36 Foreign bonds 1,021,479 62,348 6 Total more than 12 months 8,339,054 784,571 42 Total fixed maturity securities $ 42,521,714 $ 1,489,191 159 December 31, 2016 Fixed maturity securities Less than 12 months U.S. government and U.S. government agencies $ 1,878,308 $ 71,592 6 States and political subdivisions 2,532,653 66,584 14 Corporate bonds 23,721,217 696,066 92 Foreign bonds 5,087,133 155,833 16 Total less than 12 months 33,219,311 990,075 128 More than 12 months Corporate bonds 8,004,923 917,029 36 Foreign bonds 1,024,548 92,250 6 Total more than 12 months 9,029,471 1,009,279 42 Total fixed maturity securities 42,248,782 1,999,354 170 Equity securities Less than 12 months Corporate preferred stock 96,360 3,585 2 Total less than 12 months 96,360 3,585 2 More than 12 months Mutual funds 89,113 2,869 1 Total more than 12 months 89,113 2,869 1 Total equity securities 185,473 6,454 3 Total fixed maturity and equity securities $ 42,434,255 $ 2,005,808 173
Unrealized Gain (Loss) on Investments [Table Text Block]	(Unaudited) March 31, 2017 December 31, 2016 Unrealized appreciation on available-for-sale securities $ 2,118,962 $ 1,039,897 Adjustment to deferred acquisition costs (36,053 ) (16,553 ) Deferred income taxes (416,581 ) (204,668 ) Net unrealized appreciation on available-for-sale securities $ 1,666,328 $ 818,676
Realized Gain (Loss) on Investments [Table Text Block]	Three Months Ended March 31, (Unaudited) Fixed Maturity Securities Equity Securities Mortgage Loans on Real Estate Investment Real Estate 2017 2016 2017 2016 2017 2016 2017 2016 Proceeds $ 4,449,231 $ 2,274,413 $ - $ 108,800 $ 5,125,389 $ 1,572,244 $ 107,167 $ - Gross realized gains 171,105 7,094 - - - 3,575 2,487 - Gross realized losses (7,086 ) (28,352 ) - (1,468 ) - - - -
Investment Income [Table Text Block]	Three Months Ended March 31, (Unaudited) 2017 2016 Fixed maturity securities $ 1,490,370 $ 1,567,218 Equity securities 5,072 7,182 Other long-term investments 857,470 547,822 Mortgage loans 1,667,394 1,353,071 Policy loans 27,564 26,098 Real estate 93,711 91,968 Short-term and other investments 110,286 72,270 Gross investment income 4,251,867 3,665,629 Investment expenses (581,996 ) (305,426 ) Net investment income $ 3,669,871 $ 3,360,203
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(Unaudited) March 31, 2017 December 31, 2016 Commercial mortgage loans Retail stores $ 1,055,651 $ 1,075,324 Office buildings 177,494 179,484 Total commercial mortgage loans 1,233,145 1,254,808 Residential mortgage loans 85,645,703 73,116,478 Total mortgage loans $ 86,878,848 $ 74,371,286
Schedule of Real Estate Properties [Table Text Block]	(Unaudited) March 31, 2017 December 31, 2016 Land - held for the production of income $ 213,160 $ 213,160 Land - held for investment 745,155 745,155 Total land 958,315 958,315 Building - held for the production of income 2,267,557 2,267,557 Less - accumulated depreciation (1,086,067 ) (1,049,695 ) Buildings net of accumulated depreciation 1,181,490 1,217,862 Residential real estate - held for sale 225,816 330,496 Total residential real estate 225,816 330,496 Investment real estate, net of accumulated depreciation $ 2,365,621 $ 2,506,673
Available For Sale Fixed Maturity Securities [Member]
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	March 31, 2017 (Unaudited) Fixed Maturity Available-For-Sale Securities Other Long-Term Investments Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 8,564,969 $ 8,646,613 $ 6,978,927 $ 7,081,822 Due after one year through five years 31,765,292 32,499,328 19,501,912 21,055,897 Due after five years through ten years 42,243,357 43,132,728 13,854,164 16,558,746 Due after ten years 67,256,326 67,576,517 9,180,015 14,151,045 Due at multiple maturity dates 33,938 70,627 - - $ 149,863,882 $ 151,925,813 $ 49,515,018 $ 58,847,510

Note 3 - Fair Value Measureme19

Note 3 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total March 31, 2017 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 3,395,568 $ - $ 3,395,568 States and political subdivisions - 9,719,691 - 9,719,691 Residential mortgage-backed securities - 70,627 - 70,627 Corporate bonds - 118,289,132 - 118,289,132 Foreign bonds - 20,450,795 - 20,450,795 Total fixed maturity securities $ - $ 151,925,813 $ - $ 151,925,813 Equity securities, available-for-sale Mutual funds $ - $ 346,412 $ - $ 346,412 Corporate preferred stock 101,960 - - 101,960 Corporate common stock 147,688 - 61,500 209,188 Total equity securities $ 249,648 $ 346,412 $ 61,500 $ 657,560 December 31, 2016 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 3,185,383 $ - $ 3,185,383 States and political subdivisions - 9,250,896 - 9,250,896 Residential mortgage-backed securities - 70,727 - 70,727 Corporate bonds - 100,980,041 - 100,980,041 Foreign bonds - 15,824,108 - 15,824,108 Total fixed maturity securities $ - $ 129,311,155 $ - $ 129,311,155 Equity securities, available-for-sale Mutual funds $ - $ 341,914 $ - $ 341,914 Corporate preferred stock 96,360 - - 96,360 Corporate common stock 138,633 - 61,500 200,133 Total equity securities $ 234,993 $ 341,914 $ 61,500 $ 638,407
Fair Value, by Balance Sheet Grouping [Table Text Block]	Carrying Fair Amount Value Level 1 Level 2 Level 3 March 31, 2017 (Unaudited) Financial assets Mortgage loans on real estate Commercial $ 1,233,145 $ 1,245,615 $ - $ - $ 1,245,615 Residential 85,645,703 86,519,153 - - 86,519,153 Policy loans 1,576,307 1,576,307 - - 1,576,307 Other long-term investments 49,515,018 58,847,510 - - 58,847,510 Cash and cash equivalents 25,962,536 25,962,536 25,962,536 - - Accrued investment income 2,542,754 2,542,754 - - 2,542,754 Total financial assets $ 166,475,463 $ 150,458,439 $ 25,962,536 $ - $ 124,495,903 Financial liabilities Policyholders' account balances $ 267,911,869 $ 226,181,661 $ - $ - $ 226,181,661 Policy claims 938,779 938,779 - - 938,779 Total financial liabilities $ 268,850,648 $ 185,368,033 $ - $ - $ 185,368,033 December 31, 2016 Financial assets Mortgage loans on real estate Commercial $ 1,254,808 $ 1,268,140 $ - $ - $ 1,268,140 Residential 73,116,478 70,383,661 - - 70,383,661 Policy loans 1,598,116 1,598,116 - - 1,598,116 Other long-term investments 46,788,873 55,890,429 - - 55,890,429 Cash and cash equivalents 34,223,945 34,223,945 34,223,945 - - Accrued investment income 2,176,770 2,176,770 - - 2,176,770 Total financial assets $ 159,158,990 $ 165,541,061 $ 34,223,945 $ - $ 131,317,116 Financial liabilities Policyholders' account balances $ 245,346,489 $ 206,541,702 $ - $ - $ 206,541,702 Policy claims 997,814 997,814 - - 997,814 Total financial liabilities $ 246,344,303 $ 207,539,516 $ - $ - $ 207,539,516

Note 4 - Segment Data (Tables)

Note 4 - Segment Data (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, (Unaudited) 2017 2016 Revenues: Life insurance operations $ 4,184,653 $ 3,745,244 Annuity operations 3,188,969 2,637,424 Corporate operations 134,337 158,239 Total $ 7,507,959 $ 6,540,907 Income before income taxes: Life insurance operations $ 117,848 $ 29,953 Annuity operations 160,414 228,256 Corporate operations 71,255 89,997 Total $ 349,517 $ 348,206 Depreciation and amortization expense: Life insurance operations $ 414,284 $ 674,547 Annuity operations 420,048 155,912 Corporate operations - - Total $ 834,332 $ 830,459
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	(Unaudited) March 31, 2017 December 31, 2016 Assets: Life insurance operations $ 51,429,483 $ 50,577,282 Annuity operations 299,630,314 275,745,766 Corporate operations 6,772,563 6,929,565 Total $ 357,832,360 $ 333,252,613

Note 7 - Other Comprehensive 21

Note 7 - Other Comprehensive Income and Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended March 31, 2017 and 2016 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of January 1, 2017 $ 831,917 $ (13,241 ) $ 818,676 Other comprehensive income before reclassifications, net of tax 994,467 (15,600 ) 978,867 Less amounts reclassified from accumulated other comprehensive income, net of tax 131,215 - 131,215 Other comprehensive income 863,252 (15,600 ) 847,652 Balance as of March 31, 2017 $ 1,695,169 $ (28,841 ) $ 1,666,328 Balance as of January 1, 2016 $ (2,695,876 ) $ 40,059 $ (2,655,817 ) Other comprehensive income before reclassifications, net of tax 3,023,618 (48,104 ) 2,975,514 Less amounts reclassified from accumulated other comprehensive income, net of tax (18,181 ) - (18,181 ) Other comprehensive income 3,041,799 (48,104 ) 2,993,695 Balance as of March 31, 2016 $ 345,923 $ (8,045 ) $ 337,878
Comprehensive Income (Loss) [Table Text Block]	Income Tax Pretax Expense Net of Tax Three Months Ended March 31, 2017 (Unaudited) Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 1,243,084 $ 248,617 $ 994,467 Reclassification adjustment for net gains included in operations 164,019 32,804 131,215 Net unrealized gains on investments 1,079,065 215,813 863,252 Adjustment to deferred acquisition costs (19,500 ) (3,900 ) (15,600 ) Total other comprehensive income $ 1,059,565 $ 211,913 $ 847,652 Three Months Ended March 31, 2016 (Unaudited) Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 3,779,522 $ 755,904 $ 3,023,618 Reclassification adjustment for net losses included in operations (22,726 ) (4,545 ) (18,181 ) Net unrealized gains on investments 3,802,248 760,449 3,041,799 Adjustment to deferred acquisition costs (60,130 ) (12,026 ) (48,104 ) Total other comprehensive income $ 3,742,118 $ 748,423 $ 2,993,695
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended March 31, (Unaudited) Reclassification Adjustments 2017 2016 Unrealized gains on available-for-sale securities: Realized gains (losses) on sales of securities (a) $ 164,019 $ (22,726 ) Income tax expense (benefit) (b) 32,804 (4,545 ) Total reclassification adjustments $ 131,215 $ (18,181 )

Note 8 - Allowance for Loan L22

Note 8 - Allowance for Loan Losses From Mortgage Loans On Real Estate and Loans From Premium Financing (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	As of and for the Three Months Ended March 31, (Unaudited) Residential Mortgage Loans Commercial Mortgage Loans Premium Finance Loans Total 2017 2016 2017 2016 2017 2016 2017 2016 Allowance, beginning $ 238,121 $ 175,988 $ 6,306 $ 7,360 $ - $ 197,172 $ 244,427 $ 380,520 Charge offs - - - - - - - - Recoveries - - - - - - - - Provision 42,163 6,484 (109 ) (115 ) - (4,482 ) 42,054 1,887 Allowance, ending $ 280,284 $ 182,472 $ 6,197 $ 7,245 $ - $ 192,690 $ 286,481 $ 382,407 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ 192,690 $ - $ 192,690 Collectively evaluated for impairment $ 280,284 $ 182,472 $ 6,197 $ 7,245 $ - $ - $ 286,481 $ 189,717 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ 347,885 $ - $ 347,885 Collectively evaluated for impairment $ 55,968,265 $ 36,840,353 $ 1,233,145 $ 1,441,814 $ - $ - $ 57,201,410 $ 38,282,167
Financing Receivable Credit Quality Indicators [Table Text Block]	Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Over 70% to 80% $ 15,380,587 $ 14,559,541 $ - $ - $ 15,380,587 $ 14,559,541 Over 60% to 70% 32,049,451 29,738,887 - - 32,049,451 29,738,887 Over 50% to 60% 21,712,187 15,440,364 1,040,222 1,051,155 22,752,409 16,491,519 Over 40% to 50% 12,345,596 10,399,031 - - 12,345,596 10,399,031 Over 30% to 40% 2,276,132 2,184,351 192,923 203,653 2,469,055 2,388,004 Over 20% to 30% 1,544,076 467,410 - - 1,544,076 467,410 Over 10% to 20% 333,013 317,936 - - 333,013 317,936 10% or less 4,661 8,958 - - 4,661 8,958 Total $ 85,645,703 $ 73,116,478 $ 1,233,145 $ 1,254,808 $ 86,878,848 $ 74,371,286

Note 1 - Organization and Sig23

Note 1 - Organization and Significant Accounting Policies (Details Textual)	Apr. 28, 2015USD ($)	Dec. 28, 2011USD ($)	Dec. 31, 2008USD ($)	Dec. 23, 2008USD ($)	Mar. 31, 2017$ / shares	Dec. 31, 2004USD ($)	Dec. 31, 2012USD ($)shares	Mar. 08, 2013USD ($)	Mar. 08, 2013USD ($)shares	Dec. 31, 2016USD ($)$ / sharesshares	Aug. 31, 2009
Proceeds from Issuance of Private Placement						$ 1,450,000
Number Of Private Placements						2		1
Proceeds from Issuance Initial Public Offering								$ 25,669,480
Number of Public Offerings								2
Common Stock Dividends, Shares | shares							702,685
Number of Stock Dividends							2
Treasury Stock, Shares, Acquired | shares										247,580
Treasury Stock, Value, Acquired, Cost Method										$ 893,947
Business Combination, Consideration Transferred		$ 13,855,129
Number of Subsidiaries Merged											2
Asset Acquired Under Assumption Reinsurance Agreement	$ 3,644,839
Liabilities Assumed Under Reinsurance Assumption Agreement	3,055,916
Gain on Reinsurance Assumption	$ 588,923
Common Stock, Par or Stated Value Per Share | $ / shares					$ 0.01					$ 0.01
Retained Earnings [Member]
Dividends							$ 5,270,138
Common Stock Including Additional Paid in Capital [Member]
Stock Issued During Period, Value, Stock Dividend							$ 5,270,138
Term Products 10 Year [Member]
Term Products Number of Years					10 years
Term Products 15 Year [Member]
Term Products Number of Years					15 years
Term Products 20 Year [Member]
Term Products Number of Years					20 years
Term Products 30 Year [Member]
Term Products Number of Years					30 years
Trinity Life Insurance Company [Member] | Family Benefit Life Insurance Company [Member]
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
First Trinity Financial Corporation [Member] | First Life America Corporation [Member
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Business Combination, Consideration Transferred				$ 2,695,234
Business Combination, Acquisition Related Costs				$ 195,234
Debt Instrument, Term			15 years
Debt Instrument, Face Amount			$ 250,000
Debt Instrument, Interest Rate, Stated Percentage			6.00%
Trinity Life Insurance Company [Member]
Wholly Owned Subsidiary Ownership Percentage					100.00%
Family Benefit Life Insurance Company [Member] | Trinity Life Insurance Company [Member]
Wholly Owned Subsidiary Ownership Percentage					100.00%
First Trinity Capital Corporation [Member]
Wholly Owned Subsidiary Ownership Percentage					100.00%
First Trinity Capital Corporation [Member] | First Life America Corporation [Member
Stock Issued During Period, Shares, New Issues | shares									7,347,488
Payments of Stock Issuance Costs									$ 3,624,518

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	Nov. 30, 2016USD ($)	Mar. 31, 2017USD ($)ft²a	Dec. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions			173		173
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss			$ 2,005,808		$ 2,005,808
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value			42,434,255		42,434,255
Investment Impaired Par Value					650,000
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held			207,450		207,450
Deposit Assets		$ 4,107,553	4,099,405		4,099,405
Other Assets, Fair Value Disclosure		4,132,879	4,125,116		$ 4,125,116
Number of Investment Real Estate Properties Sold	1
Real Estate Investments, Carrying Value of Real Estate Property Sold During the Period	$ 63,931	104,680
Gains (Losses) on Sales of Investment Real Estate	(20,662)	2,487
Proceeds from Sale of Real Estate Held-for-investment	$ 43,269	$ 107,167
Impairment of Investments Number of Securities		0		0
Residential Mortgage [Member]
Number of Mortgage Loans Foreclosed					7
Mortgage Loans on Real Estate, Foreclosures					$ 394,427
Topeka Kansas [Member] | Trinity Life Insurance Company [Member]
Area of Land | a		6.5
Topeka Kansas [Member] | Trinity Life Insurance Company [Member] | Held for the Production of Income [Member] | Office Building [Member]
Area of Real Estate Property | ft²		20,000
Jefferson City Missouri [Member] | FBLIC [Member] | Assets Held-for-sale not Part of a Disposal Group [Member]
Area of Land | a		0.5
Impairment of Real Estate			4,892
Lottery Prize Cash Flows [Member]
Other Investments		$ 49,515,018	$ 46,788,873		$ 46,788,873
Debt Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions		159	170		170
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		$ 1,489,191	$ 1,999,354		$ 1,999,354
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		42,521,714	42,248,782		42,248,782
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost		$ 44,010,905	$ 44,248,136		$ 44,248,136
Fair Value to Cost Ratio		97.00%	95.00%		95.00%
Fixed Maturity Securities, Investment Grade Percentage		93.00%	92.00%		92.00%
Impairment of Investments Number of Securities			1
Equity Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions		0	3		3
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss			$ 6,454		$ 6,454
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value			185,473		185,473
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost			$ 191,927		$ 191,927
Fair Value to Cost Ratio			97.00%		97.00%

Note 2 - Investments - Availabl

Note 2 - Investments - Available-for-sale Fixed Maturity and Equity Securities (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Securities, amortized cost	$ 150,464,411	$ 128,909,665
Securities, gross unrealized gains	3,608,153	3,045,705
Securities, gross unrealized losses	1,489,191	2,005,808
Available-for-sale securities	152,583,373	129,949,562
US Treasury and Government [Member]
Securities, amortized cost	3,375,460	3,157,889
Securities, gross unrealized gains	88,510	99,086
Securities, gross unrealized losses	68,402	71,592
Available-for-sale securities	3,395,568	3,185,383
US States and Political Subdivisions Debt Securities [Member]
Securities, amortized cost	9,602,066	9,172,533
Securities, gross unrealized gains	167,836	144,947
Securities, gross unrealized losses	50,211	66,584
Available-for-sale securities	9,719,691	9,250,896
Residential Mortgage Backed Securities [Member]
Securities, amortized cost	33,938	33,970
Securities, gross unrealized gains	36,689	36,757
Securities, gross unrealized losses
Available-for-sale securities	70,627	70,727
Corporate Debt Securities [Member]
Securities, amortized cost	116,778,608	100,268,424
Securities, gross unrealized gains	2,713,348	2,324,712
Securities, gross unrealized losses	1,202,824	1,613,095
Available-for-sale securities	118,289,132	100,980,041
Foreign Government Debt Securities [Member]
Securities, amortized cost	20,073,810	15,677,449
Securities, gross unrealized gains	544,739	394,742
Securities, gross unrealized losses	167,754	248,083
Available-for-sale securities	20,450,795	15,824,108
Debt Securities [Member]
Securities, amortized cost	149,863,882	128,310,265
Securities, gross unrealized gains	3,551,122	3,000,244
Securities, gross unrealized losses	1,489,191	1,999,354
Available-for-sale securities	151,925,813	129,311,155
Mutual Funds [Member]
Securities, amortized cost	345,607	344,783
Securities, gross unrealized gains	805
Securities, gross unrealized losses		2,869
Available-for-sale securities	346,412	341,914
Preferred Stock [Member]
Securities, amortized cost	99,945	99,945
Securities, gross unrealized gains	2,015
Securities, gross unrealized losses		3,585
Available-for-sale securities	101,960	96,360
Common Stock [Member]
Securities, amortized cost	154,977	154,672
Securities, gross unrealized gains	54,211	45,461
Securities, gross unrealized losses
Available-for-sale securities	209,188	200,133
Equity Securities [Member]
Securities, amortized cost	600,529	599,400
Securities, gross unrealized gains	57,031	45,461
Securities, gross unrealized losses		6,454
Available-for-sale securities	$ 657,560	$ 638,407

Note 2 - Investments - Securiti

Note 2 - Investments - Securities in an Unrealized Loss Position (Details)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		$ 42,434,255
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		$ 2,005,808
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions		173
US Government Agencies Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 2,086,562	$ 1,878,308
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 68,402	$ 71,592
Securities in an unrealized loss position, less than twelve months, number	7	6
US States and Political Subdivisions Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 2,518,618	$ 2,532,653
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 50,211	$ 66,584
Securities in an unrealized loss position, less than twelve months, number	13	14
Corporate Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 26,306,196	$ 23,721,217
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 480,601	$ 696,066
Securities in an unrealized loss position, less than twelve months, number	85	92
Securities in an unrealized loss position, more than twelve months, fair value	$ 7,317,575	$ 8,004,923
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 722,223	$ 917,029
ecurities in an unrealized loss position, more than twelve months, number	36	36
Foreign Government Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 3,271,284	$ 5,087,133
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 105,406	$ 155,833
Securities in an unrealized loss position, less than twelve months, number	12	16
Securities in an unrealized loss position, more than twelve months, fair value	$ 1,021,479	$ 1,024,548
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 62,348	$ 92,250
ecurities in an unrealized loss position, more than twelve months, number	6	6
Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 34,182,660	$ 33,219,311
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 704,620	$ 990,075
Securities in an unrealized loss position, less than twelve months, number	117	128
Securities in an unrealized loss position, more than twelve months, fair value	$ 8,339,054	$ 9,029,471
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 784,571	$ 1,009,279
ecurities in an unrealized loss position, more than twelve months, number	42	42
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 42,521,714	$ 42,248,782
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 1,489,191	$ 1,999,354
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	159	170
Preferred Stock [Member]
Securities in an unrealized loss position, less than twelve months, fair value		$ 96,360
Securities in an unrealized loss position, less than twelve months, unrealized loss		$ 3,585
Securities in an unrealized loss position, less than twelve months, number		2
Equity Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value		$ 96,360
Securities in an unrealized loss position, less than twelve months, unrealized loss		$ 3,585
Securities in an unrealized loss position, less than twelve months, number		2
Securities in an unrealized loss position, more than twelve months, fair value		$ 89,113
Securities in an unrealized loss position, more than twelve months, unrealized loss		$ 2,869
ecurities in an unrealized loss position, more than twelve months, number		1
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		$ 185,473
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		$ 6,454
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	0	3
Mutual Funds [Member]
Securities in an unrealized loss position, more than twelve months, fair value		$ 89,113
Securities in an unrealized loss position, more than twelve months, unrealized loss		$ 2,869
ecurities in an unrealized loss position, more than twelve months, number		1

Note 2 - Investments - Net Unre

Note 2 - Investments - Net Unrealized Gains Included in Accumulated Other Comprehensive Income (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Unrealized appreciation on available-for-sale securities	$ 2,118,962	$ 1,039,897
Adjustment to deferred acquisition costs	(36,053)	(16,553)
Deferred income taxes	(416,581)	(204,668)
Net unrealized appreciation on available-for-sale securities	$ 1,666,328	$ 818,676

Note 2 - Investments - Fixed Ma

Note 2 - Investments - Fixed Maturity Available-for-sale Securities by Contractual Maturities (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Available-for-sale securities - amortized cost	$ 149,863,882	$ 128,310,265
Available-for-sale securities - fair value	151,925,813	$ 129,311,155
Fixed Maturities [Member]
Due in one year or less - amortized cost	8,564,969
Due in one year or less - fair value	8,646,613
Due after one year through five years	31,765,292
Due after one year through five years	32,499,328
Due after five years through ten years - amortized cost	42,243,357
Due after five years through ten years - fair value	43,132,728
Due after ten years - amortized cost	67,256,326
Due after ten years - fair value	67,576,517
Due at multiple maturity dates - amortized cost	33,938
Due at multiple maturity dates - fair value	70,627
Available-for-sale securities - amortized cost	149,863,882
Available-for-sale securities - fair value	151,925,813
Other Long-term Investments [Member]
Due in one year or less - amortized cost	6,978,927
Due in one year or less - fair value	7,081,822
Due after one year through five years	19,501,912
Due after one year through five years	21,055,897
Due after five years through ten years - amortized cost	13,854,164
Due after five years through ten years - fair value	16,558,746
Due after ten years - amortized cost	9,180,015
Due after ten years - fair value	14,151,045
Due at multiple maturity dates - amortized cost
Due at multiple maturity dates - fair value
Available-for-sale securities - amortized cost	49,515,018
Available-for-sale securities - fair value	$ 58,847,510

Note 2 - Investments - Availa29

Note 2 - Investments - Available-for-sale Securities - Proceeds and Gross Realized Gains (Losses) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fixed Maturities [Member]
Proceeds	$ 4,449,231	$ 2,274,413
Gross realized gains	171,105	7,094
Gross realized losses	(7,086)	(28,352)
Equity Securities [Member]
Proceeds		108,800
Gross realized gains
Gross realized losses		(1,468)
Mortgages [Member]
Proceeds	5,125,389	1,572,244
Gross realized gains		3,575
Gross realized losses
Real Estate Investment [Member]
Proceeds	107,167
Gross realized gains	2,487
Gross realized losses

Note 2 - Investments - Major Ca

Note 2 - Investments - Major Categories of Net Investment Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Gross Investment income	$ 4,251,867	$ 3,665,629
Investment expenses	(581,996)	(305,426)
Net investment income	3,669,871	3,360,203
Fixed Maturities [Member]
Gross Investment income	1,490,370	1,567,218
Equity Securities [Member]
Gross Investment income	5,072	7,182
Other Long-term Investments [Member]
Gross Investment income	857,470	547,822
Mortgages [Member]
Gross Investment income	1,667,394	1,353,071
Policy Loans [Member]
Gross Investment income	27,564	26,098
Real Estate Investment [Member]
Gross Investment income	93,711	91,968
Short-term Investments [Member]
Gross Investment income	$ 110,286	$ 72,270

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans on Real Estate (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 86,878,848	$ 74,371,286
Commercial Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	1,233,145	1,254,808
Commercial Portfolio Segment [Member] | Retail Site [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	1,055,651	1,075,324
Commercial Portfolio Segment [Member] | Office Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	177,494	179,484
Residential Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 85,645,703	$ 73,116,478

Note 2 - Investments - Investme

Note 2 - Investments - Investment Real Estate (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Investment real estate, net	$ 2,365,621	$ 2,506,673
Land Held for the Production of Income [Member]
Investment real estate	213,160	213,160
Land Held for Sale [Member]
Investment real estate	745,155	745,155
Land [Member]
Investment real estate	958,315	958,315
Building Held for the Production of Income [Member]
Investment real estate	2,267,557	2,267,557
Less - accumulated depreciation	(1,086,067)	(1,049,695)
Investment real estate, net	1,181,490	1,217,862
Residential Real Estate - Held for Sale [Member]
Investment real estate	$ 225,816	$ 330,496

Note 3 - Fair Value Measureme33

Note 3 - Fair Value Measurements (Details Textual)	Mar. 31, 2017	Dec. 31, 2016
Number Of Private Placement Common Stocks	2	2

Note 3 - Fair Value Measureme34

Note 3 - Fair Value Measurements - Fair Value Measured on a Recurring Basis (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Available-for-sale securities	$ 152,583,373	$ 129,949,562
US Treasury and Government [Member]
Available-for-sale securities	3,395,568	3,185,383
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	3,395,568	3,185,383
US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	3,395,568	3,185,383
US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities	9,719,691	9,250,896
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	9,719,691	9,250,896
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	9,719,691	9,250,896
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Residential Mortgage Backed Securities [Member]
Available-for-sale securities	70,627	70,727
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	70,627	70,727
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	70,627	70,727
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Corporate Debt Securities [Member]
Available-for-sale securities	118,289,132	100,980,041
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	118,289,132	100,980,041
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	118,289,132	100,980,041
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Foreign Government Debt Securities [Member]
Available-for-sale securities	20,450,795	15,824,108
Foreign Government Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	20,450,795	15,824,108
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	20,450,795	15,824,108
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Debt Securities [Member]
Available-for-sale securities	151,925,813	129,311,155
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	151,925,813	129,311,155
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	151,925,813	129,311,155
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Mutual Funds [Member]
Available-for-sale securities	346,412	341,914
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	346,412	341,914
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	346,412	341,914
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Preferred Stock [Member]
Available-for-sale securities	101,960	96,360
Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	101,960	96,360
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	101,960	96,360
Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Common Stock [Member]
Available-for-sale securities	209,188	200,133
Common Stock [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	209,188	200,133
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	147,688	138,633
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	61,500	61,500
Equity Securities [Member]
Available-for-sale securities	657,560	638,407
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	657,560	638,407
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	249,648	234,993
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	346,412	341,914
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	$ 61,500	$ 61,500

Note 3 - Fair Value Measureme35

Note 3 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Policy loans	$ 1,576,307	$ 1,598,116
Accrued investment income	2,542,754	2,176,770
Policy claims	938,779	997,814
Reported Value Measurement [Member]
Policy loans	1,576,307	1,598,116
Other long-term investments	49,515,018	46,788,873
Cash and cash equivalents	25,962,536	34,223,945
Accrued investment income	2,542,754	2,176,770
Total financial assets	166,475,463	159,158,990
Policyholders' account balances	267,911,869	245,346,489
Policy claims	938,779	997,814
Total financial liabilities	268,850,648	246,344,303
Estimate of Fair Value Measurement [Member]
Policy loans	1,576,307	1,598,116
Other long-term investments	58,847,510	55,890,429
Cash and cash equivalents	25,962,536	34,223,945
Accrued investment income	2,542,754	2,176,770
Total financial assets	150,458,439	165,541,061
Policyholders' account balances	226,181,661	206,541,702
Policy claims	938,779	997,814
Total financial liabilities	185,368,033	207,539,516
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Policy loans
Other long-term investments
Cash and cash equivalents	25,962,536	34,223,945
Accrued investment income
Total financial assets	25,962,536	34,223,945
Policyholders' account balances
Policy claims
Total financial liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Policy loans
Other long-term investments
Cash and cash equivalents
Accrued investment income
Total financial assets
Policyholders' account balances
Policy claims
Total financial liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Policy loans	1,576,307	1,598,116
Other long-term investments	58,847,510	55,890,429
Cash and cash equivalents
Accrued investment income	2,542,754	2,176,770
Total financial assets	124,495,903	131,317,116
Policyholders' account balances	226,181,661	206,541,702
Policy claims	938,779	997,814
Total financial liabilities	185,368,033	207,539,516
Commercial [Member] | Reported Value Measurement [Member]
Mortgage loans on real estate	1,233,145	1,254,808
Commercial [Member] | Estimate of Fair Value Measurement [Member]
Mortgage loans on real estate	1,245,615	1,268,140
Commercial [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage loans on real estate
Commercial [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage loans on real estate
Commercial [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage loans on real estate	1,245,615	1,268,140
Residential [Member] | Reported Value Measurement [Member]
Mortgage loans on real estate	85,645,703	73,116,478
Residential [Member] | Estimate of Fair Value Measurement [Member]
Mortgage loans on real estate	86,519,153	70,383,661
Residential [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage loans on real estate
Residential [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage loans on real estate
Residential [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage loans on real estate	$ 86,519,153	$ 70,383,661

Note 4 - Segment Data - Segment

Note 4 - Segment Data - Segment Data - Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Total revenue	$ 7,507,959	$ 6,540,907
Income before income taxes	349,517	348,206
Depreciation and amortization expense	834,332	830,459
Life Insurance Operations [Member]
Total revenue	4,184,653	3,745,244
Income before income taxes	117,848	29,953
Depreciation and amortization expense	414,284	674,547
Annuity Operations [Member]
Total revenue	3,188,969	2,637,424
Income before income taxes	160,414	228,256
Depreciation and amortization expense	420,048	155,912
Corporate Segment [Member]
Total revenue	134,337	158,239
Income before income taxes	71,255	89,997
Depreciation and amortization expense

Note 4 - Segment Data - Segme37

Note 4 - Segment Data - Segment Data - Assets (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Total assets	$ 357,832,360	$ 333,252,613
Life Insurance Operations [Member]
Total assets	51,429,483	50,577,282
Annuity Operations [Member]
Total assets	299,630,314	275,745,766
Corporate Segment [Member]
Total assets	$ 6,772,563	$ 6,929,565

Note 5 - Federal Income Taxes (

Note 5 - Federal Income Taxes (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Unrecognized Tax Benefits	$ 0
Domestic Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year	2,013
Domestic Tax Authority [Member] | Latest Tax Year [Member]
Open Tax Year	2,016

Note 6 - Legal Matters and Co39

Note 6 - Legal Matters and Contingent Liabilities (Details Textual)	Feb. 17, 2017USD ($)	Nov. 22, 2013	Feb. 01, 2016USD ($)
Case No. CJ-2013-03385 [Member] | Mr. Pettigrew [Member]
Loss Contingency, Damages Awarded, Value	$ 4,300,000
Case No. CJ-2013-03385 [Member] | Mr. Pettigrew [Member] | First Trinity Financial Corporation [Member]
Loss Contingency, Damages Awarded, Value	800,000
Case No. CJ-2013-03385 [Member] | Mr. Pettigrew [Member] | Mr. Zahn [Member]
Loss Contingency, Damages Awarded, Value	$ 3,500,000
Decreasing Term to 95 [Member] | Pending Litigation [Member]
Loss Contingency, Number of Plaintiffs		3
Loss Contingency, Estimate of Possible Loss			$ 2,548,939

Note 7 - Other Comprehensive 40

Note 7 - Other Comprehensive Income and Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Beginning Balance	$ 818,676	$ (2,655,817)
Other comprehensive income before reclassifications, net of tax	978,867	2,975,514
Less amounts reclassified from accumulated other comprehensive income, net of tax	131,215	(18,181)
Other comprehensive income	847,652	2,993,695
Ending Balance	1,666,328	337,878
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Beginning Balance	831,917	(2,695,876)
Other comprehensive income before reclassifications, net of tax	994,467	3,023,618
Less amounts reclassified from accumulated other comprehensive income, net of tax	131,215	(18,181)
Other comprehensive income	863,252	3,041,799
Ending Balance	1,695,169	345,923
Adjustment to Deferred Acquisition Costs [Member]
Beginning Balance	(13,241)	40,059
Other comprehensive income before reclassifications, net of tax	(15,600)	(48,104)
Less amounts reclassified from accumulated other comprehensive income, net of tax
Other comprehensive income	(15,600)	(48,104)
Ending Balance	$ (28,841)	$ (8,045)

Note 7 - Other Comprehensive 41

Note 7 - Other Comprehensive Income and Accumulated Other Comprehensive Income - Other Comprehensive Income (Details) - USD ($)		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Total net unrealized gains arising during the period		$ 1,243,084	$ 3,779,522
Unrealized holding gains arising during the period, income tax expense		248,617	755,904
Unrealized holding gains arising during the period, net of tax		994,467	3,023,618
Less net realized investment gains (losses)	[1]	164,019	(22,726)
Reclassification adjustment for net gains (losses) included in operations, income tax expense	[2]	32,804	(4,545)
Reclassification adjustment for net gains (losses) included in operations, net of tax		131,215	(18,181)
Net unrealized gains on investments, pretax		1,079,065	3,802,248
Net unrealized gains on investments, income tax expense		215,813	760,449
Net unrealized gains on investments, net of tax		863,252	3,041,799
Adjustment to deferred acquisition costs, pretax		(19,500)	(60,130)
Adjustment to deferred acquisition costs, income tax expense		(3,900)	(12,026)
Adjustment to deferred acquisition costs, net of tax		(15,600)	(48,104)
Total other comprehensive income, pretax		1,059,565	3,742,118
Total other comprehensive income, income tax expense		211,913	748,423
Total other comprehensive income, net of tax		$ 847,652	$ 2,993,695
[1]	These items appear within net realized investment gains (losses) in the consolidated statement of operations.
[2]	These items appear within federal income taxes in the consolidated statement of operations.

Note 7 - Other Comprehensive 42

Note 7 - Other Comprehensive Income and Accumulated Other Comprehensive Income - Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($)		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Realized gains (losses) on sales of securities	[1]	$ 164,019	$ (22,726)
Income tax expense (benefit)	[2]	32,804	(4,545)
Total reclassification adjustments		$ 131,215	$ (18,181)
[1]	These items appear within net realized investment gains (losses) in the consolidated statement of operations.
[2]	These items appear within federal income taxes in the consolidated statement of operations.

Note 8 - Allowance for Loan L43

Note 8 - Allowance for Loan Losses From Mortgage Loans On Real Estate and Loans From Premium Financing (Details Textual) - USD ($)	Jun. 30, 2012	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses		$ 286,481	$ 244,427	$ 382,407	$ 380,520
Mortgage Loans on Real Estate, Commercial and Consumer, Net		86,878,848	74,371,286
Premiums Receivable, Percent Of Premium	80.00%
Premiums Receivable Down Payment Percent Of Premium	20.00%
Premiums Receivable, Delinquent Premium Term	25 days
One Loan Originator [Member]
Financing Receivable, Allowance for Credit Losses		148,387
Mortgage Loans on Real Estate, Commercial and Consumer, Net		29,677,438	25,523,757	$ 22,649,615
One Loan Originator [Member] | Independent Mortgage Loan Balances [Member]
Escrow Deposit		544,016	525,063
All Other Entities [Member]
Financing Receivable, Allowance for Credit Losses		286,481	244,427
Mortgage Loans on Real Estate, Commercial and Consumer, Net		$ 57,201,410	$ 48,847,529

Note 8 - Allowance for Loan L44

Note 8 - Allowance for Loan Losses From Mortgage Loans On Real Estate and Loans From Premium Financing - Allowance for Loss On Premium Financing (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Allowance, beginning	$ 244,427	$ 380,520
Charge offs	0	0
Recoveries	0	0
Provision	42,054	1,887
Allowance, ending	286,481	382,407
Individually evaluated for impairment	0	192,690
Collectively evaluated for impairment	286,481	189,717
Individually evaluated for impairment	0	347,885
Collectively evaluated for impairment	57,201,410	38,282,167
Residential Portfolio Segment [Member]
Allowance, beginning	238,121	175,988
Charge offs	0	0
Recoveries	0	0
Provision	42,163	6,484
Allowance, ending	280,284	182,472
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	280,284	182,472
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	55,968,265	36,840,353
Commercial Portfolio Segment [Member]
Allowance, beginning	6,306	7,360
Charge offs	0	0
Recoveries	0	0
Provision	(109)	(115)
Allowance, ending	6,197	7,245
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	6,197	7,245
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1,233,145	1,441,814
Premium Finance Loans [Member]
Allowance, beginning	0	197,172
Charge offs	0	0
Recoveries	0	0
Provision	0	(4,482)
Allowance, ending	0	192,690
Individually evaluated for impairment	0	192,690
Collectively evaluated for impairment	0	0
Individually evaluated for impairment	0	347,885
Collectively evaluated for impairment	$ 0	$ 0

Note 8 - Allowance for Loan L45

Note 8 - Allowance for Loan Losses From Mortgage Loans On Real Estate and Loans From Premium Financing - Mortgage Loan to Value Ratios (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Mortgage loans on real estate	$ 86,878,848	$ 74,371,286
Residential Portfolio Segment [Member]
Mortgage loans on real estate	85,645,703	73,116,478
Commercial Portfolio Segment [Member]
Mortgage loans on real estate	1,233,145	1,254,808
Loan to Value Range1 [Member]
Mortgage loans on real estate	15,380,587	14,559,541
Loan to Value Range1 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	15,380,587	14,559,541
Loan to Value Range1 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate
Loan to Value Range1 [Member] | Minimum [Member]
Loan to value ratio	70.00%
Loan to Value Range1 [Member] | Maximum [Member]
Loan to value ratio		80.00%
Loan to Value Range 2 [Member]
Mortgage loans on real estate	$ 32,049,451	$ 29,738,887
Loan to Value Range 2 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	32,049,451	29,738,887
Loan to Value Range 2 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate
Loan to Value Range 2 [Member] | Minimum [Member]
Loan to value ratio	60.00%
Loan to Value Range 2 [Member] | Maximum [Member]
Loan to value ratio		70.00%
Loan to Value Range 3 [Member]
Mortgage loans on real estate	$ 22,752,409	$ 16,491,519
Loan to Value Range 3 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	21,712,187	15,440,364
Loan to Value Range 3 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	$ 1,040,222	$ 1,051,155
Loan to Value Range 3 [Member] | Minimum [Member]
Loan to value ratio	50.00%
Loan to Value Range 3 [Member] | Maximum [Member]
Loan to value ratio		60.00%
Loan to Value Range 4 [Member]
Mortgage loans on real estate	$ 12,345,596	$ 10,399,031
Loan to Value Range 4 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	12,345,596	10,399,031
Loan to Value Range 4 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate
Loan to Value Range 4 [Member] | Minimum [Member]
Loan to value ratio	40.00%
Loan to Value Range 4 [Member] | Maximum [Member]
Loan to value ratio		50.00%
Loan to Value Range 5 [Member]
Mortgage loans on real estate	$ 2,469,055	$ 2,388,004
Loan to Value Range 5 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	2,276,132	2,184,351
Loan to Value Range 5 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	$ 192,923	$ 203,653
Loan to Value Range 5 [Member] | Minimum [Member]
Loan to value ratio	30.00%
Loan to Value Range 5 [Member] | Maximum [Member]
Loan to value ratio		40.00%
Loan to Value Range 6 [Member]
Mortgage loans on real estate	$ 1,544,076	$ 467,410
Loan to Value Range 6 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	1,544,076	467,410
Loan to Value Range 6 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate
Loan to Value Range 6 [Member] | Minimum [Member]
Loan to value ratio	20.00%
Loan to Value Range 6 [Member] | Maximum [Member]
Loan to value ratio		30.00%
Loan to Value Range 7 [Member]
Mortgage loans on real estate	$ 333,013	$ 317,936
Loan to Value Range 7 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	333,013	317,936
Loan to Value Range 7 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate
Loan to Value Range 7 [Member] | Minimum [Member]
Loan to value ratio	10.00%
Loan to Value Range 7 [Member] | Maximum [Member]
Loan to value ratio		20.00%
Loan to Value Range 8 [Member]
Mortgage loans on real estate	$ 4,661	$ 8,958
Loan to Value Range 8 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	4,661	8,958
Loan to Value Range 8 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate
Loan to Value Range 8 [Member] | Minimum [Member]
Loan to value ratio	10.00%
Loan to Value Range 8 [Member] | Maximum [Member]
Loan to value ratio		10.00%