First Trinity Financial (FTFC) 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 07, 2018
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, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financcial Position (Current Period Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Investments
Available-for-sale fixed maturity securities at fair value (amortized cost: $147,759,019 and $143,621,947 as of March 31, 2018 and December 31, 2017, respectively)	$ 149,444,371	$ 149,683,139
Available-for-sale preferred stock at fair value (cost: $99,945 as of March 31, 2018 and December 31, 2017)	96,940	100,720
Equity securities (available-for-sale in 2017) at fair value (cost: $503,581 and $502,919 as of March 31, 2018 and December 31, 2017, respectively)	548,369	571,427
Mortgage loans on real estate	111,912,198	102,496,451
Investment real estate	2,346,594	2,382,966
Policy loans	1,647,320	1,660,175
Short-term investments	2,543,912	547,969
Other long-term investments	58,812,011	55,814,583
Total investments	327,351,715	313,257,430
Cash and cash equivalents	17,805,871	31,496,159
Accrued investment income	2,624,443	2,544,963
Recoverable from reinsurers	1,173,251	1,340,700
Agents' balances and due premiums	1,415,157	1,485,305
Deferred policy acquisition costs	26,116,077	24,555,902
Value of insurance business acquired	5,437,034	5,526,645
Other assets	11,451,942	10,920,570
Total assets	393,375,490	391,127,674
Policy liabilities
Policyholders' account balances	295,489,982	292,909,762
Future policy benefits	51,096,235	49,663,099
Policy claims	1,213,535	1,148,513
Other policy liabilities	70,629	68,490
Total policy liabilities	347,870,381	343,789,864
Deferred federal income taxes	2,314,783	2,961,929
Other liabilities	4,383,484	3,123,702
Total liabilities	354,568,648	349,875,495
Shareholders' equity
Common stock, par value $.01 per share (20,000,000 shares authorized, 8,050,173 issued as of March 31, 2018 and December 31, 2017 and 7,802,593 outstanding as of March 31, 2018 and December 31, 2017)	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, 2018 and December 31, 2017)	(893,947)	(893,947)
Accumulated other comprehensive income	1,306,725	4,760,951
Accumulated earnings	9,628,964	8,620,075
Total shareholders' equity	38,806,842	41,252,179
Total liabilities and shareholders' equity	$ 393,375,490	$ 391,127,674

Consolidated Statements of Fin3

Consolidated Statements of Financcial Position (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Available-for-sale fixed maturity securities at cost	$ 147,759,019	$ 143,621,947
Available-for-sale equity securities at cost	99,945	99,945
Equity securities, cost	$ 503,581	$ 502,919
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, 2018	Mar. 31, 2017
Revenues
Premiums	$ 4,486,735	$ 3,621,690
Net investment income	4,684,242	3,669,871
Net realized investment gains (losses)	(24,784)	166,506
Other income	21,227	49,892
Total revenues	9,167,420	7,507,959
Benefits and claims
Increase in future policy benefits	1,439,591	959,805
Death benefits	1,562,056	1,545,836
Surrenders	227,669	283,376
Interest credited to policyholders	2,307,331	2,035,054
Dividend, endowment and supplementary life contract benefits	67,685	66,973
Total benefits and claims	5,604,332	4,891,044
Policy acquisition costs deferred	(2,308,033)	(2,414,719)
Amortization of deferred policy acquisition costs	823,548	680,836
Amortization of value of insurance business acquired	89,611	102,168
Commissions	2,103,122	2,244,910
Other underwriting, insurance and acquisition expenses	1,643,393	1,654,203
Total expenses	2,351,641	2,267,398
Total benefits, claims and expenses	7,955,973	7,158,442
Income before total federal income tax expense	1,211,447	349,517
Current federal income tax expense
Deferred federal income tax expense	271,066	88,039
Total federal income tax expense	271,066	88,039
Net income	$ 940,381	$ 261,478
Net income per common share basic and diluted (in dollars per share)	$ 0.12	$ 0.03

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Net income		$ 940,381	$ 261,478
Other Comprehensive Income (loss)
Total net unrealized gains (losses) arising during the period		(4,449,298)	1,243,084
Cumulative effect, adoption of accounting guidance for equity securities		(68,508)
Less net realized investment gains (losses) having no credit losses	[1]	(1,170)	164,019
Net unrealized gains (losses)		(4,448,128)	1,079,065
Less adjustment to deferred acquisition costs		(75,690)	19,500
Other comprehensive income (loss) before income tax expense (benefit)		(4,372,438)	1,059,565
Income tax expense (benefit)		(918,212)	211,913
Total other comprehensive income (loss)		(3,454,226)	847,652
Total comprehensive income (loss)		$ (2,513,845)	$ 1,109,130
[1]	These items appear within net realized investment gains (losses) in the consolidated statements 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, 2016	$ 80,502	$ 28,684,598	$ (893,947)	$ 818,676	$ 7,590,446	$ 36,280,275
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, 2017	80,502	28,684,598	(893,947)	4,760,951	8,620,075	41,252,179
Net income					940,381	940,381
Other comprehensive income				(3,454,226)		(3,454,226)
Cumulative effect, adoption of accounting guidance for equity securities at Dec. 31, 2017					68,508	68,508
Balance at Mar. 31, 2018	$ 80,502	$ 28,684,598	$ (893,947)	$ 1,306,725	$ 9,628,964	$ 38,806,842

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income	$ 940,381	$ 261,478
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for depreciation	36,372	36,531
Accretion of discount on investments	(837,220)	(685,817)
Net realized investment losses (gains)	24,784	(166,506)
Amortization of policy acquisition cost	823,548	680,836
Policy acquisition costs deferred	(2,308,033)	(2,414,719)
Amortization of loan origination fees	13,365	14,797
Amortization of value of insurance business acquired	89,611	102,168
Allowance for mortgage loan losses	41,203	42,054
Provision for deferred federal income tax expense	271,066	88,039
Interest credited to policyholders	2,307,331	2,035,054
Change in assets and liabilities:
Policy loans	12,855	21,809
Short-term investments	(1,995,943)
Accrued investment income	(79,480)	(365,984)
Recoverable from reinsurers	167,449	47,057
Agents' balances and due premiums	70,148	(86,393)
Other assets (excludes depreciation of $159 in 2017 and change in receivable for securities sold of ($303,014) and $6,288,274 in 2018 and 2017, respectively)	(228,358)	592,603
Future policy benefits	1,433,136	956,446
Policy claims	65,022	(59,035)
Other policy liabilities	2,139	10,384
Other liabilities (exclude change in payable for securities purchased of ($132,961) and ($17,569) in 2018 and 2017, respectively)	1,392,743	(284,941)
Net cash provided by operating activities	2,242,119	825,861
Investing activities
Purchases of fixed maturity securities available-for-sale	(6,885,843)	(26,056,647)
Maturities of fixed maturity securities available-for-sale	1,950,000	2,770,000
Sales of fixed maturity securities available-for-sale	629,791	1,679,231
Purchases of equity securities available-for-sale	(968)	(1,129)
Sales of equity securities available-for-sale	412
Purchases of mortgage loans	(16,247,647)	(17,643,638)
Payments on mortgage loans	6,810,769	5,125,389
Purchases of other long-term investments	(4,737,503)	(3,648,817)
Payments on other long-term investments	2,711,668	1,780,143
Sale of real estate		107,167
Net change in receivable and payable for securities sold and purchased	(435,975)	6,270,705
Net cash used in investing activities	(16,205,296)	(29,617,596)
Financing activities
Policyholders' account deposits	7,433,520	25,052,131
Policyholders' account withdrawals	(7,160,631)	(4,521,805)
Net cash provided by financing activities	272,889	20,530,326
Decrease in cash	(13,690,288)	(8,261,409)
Cash and cash equivalents, beginning of period	31,496,159	34,223,945
Cash and cash equivalents, end of period	$ 17,805,871	$ 25,962,536

Consolidated Statements of Cas8

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Depreciation		$ 159
Change in receivable for securities sold	(303,014)	6,288,274
Change in payable of securities purchased	$ 132,961	$ 17,569

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
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. no 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 X. not The results of operations for the three March 31, 2018 not December 31, 2018 not 10 December 31, 2017. 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 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 Subsequent Events Management has evaluated all events subsequent to March 31, 2018 Recent Accounting Pronouncements Revenue from Contracts with Customers In May 2014, not 1 2 3 4 5 July 2015, one March 31, 2018. not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, This guidance is effective for fiscal years beginning after December 15, 2017. not not 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. not 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 The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. not Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In August 2016, eight December 15, 2017, not Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In November 2016, The updated guidance is effective for annual and interim periods beginning after December 15, 2017, not Business Combinations – Clarifying the Definition of a Business In January 2017, not The updated guidance is effective for annual and interim periods beginning after December 15, 2017, not Intangibles – Goodwill and Other - Simplifying the Test for Goodwill Impairment In January 2017, no December 15, 2019, January 1, 2017. not Compensation — Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, one The updated guidance is effective for reporting periods beginning after December 15, 2017. first not not no Compensation — Stock Compensation: Scope of Modification Accounting In May 2017, The updated guidance is effective for the quarter ending March 31, 2018. not not Target Improvement to Accounting for Hedging Activities In August 2017, The updated guidance is effective for reporting periods beginning after December 15, 2018. December 15, 2018. not not no Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On February 14, 2018, 2017. 2017 December 15, 2018 2017 The Company adopted the updated guidance effective December 31, 2017. not

Note 2 - Investments

Note 2 - Investments	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	2. Investments Investments in fixed maturity and preferred stock available-for-sale and equity securities as of March 31, 2018 December 31, 2017 Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value March 31, 2018 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 2,952,786 $ 35,108 $ 92,153 $ 2,895,741 States and political subdivisions 9,350,717 231,655 26,697 9,555,675 Residential mortgage-backed securities 26,600 38,423 - 65,023 Corporate bonds 113,497,658 2,470,316 1,103,071 114,864,903 Foreign bonds 21,931,258 459,679 327,908 22,063,029 Total fixed maturity securities 147,759,019 3,235,181 1,549,829 149,444,371 Preferred stock 99,945 415 3,420 96,940 Equity securities Mutual funds 348,909 - 1,032 347,877 Corporate common stock 154,672 53,118 7,298 200,492 Total equity securities 503,581 53,118 8,330 548,369 Total fixed maturity, preferred stock and equity securities $ 148,362,545 $ 3,288,714 $ 1,561,579 $ 150,089,680 December 31, 2017 Fixed maturity securities U.S. government and U.S. government agencies $ 2,989,688 $ 48,720 $ 65,341 $ 2,973,067 States and political subdivisions 9,368,393 337,442 20,148 9,685,687 Residential mortgage-backed securities 29,573 41,736 - 71,309 Corporate bonds 109,340,273 5,248,291 491,556 114,097,008 Foreign bonds 21,894,020 1,134,999 172,951 22,856,068 Total fixed maturity securities 143,621,947 6,811,188 749,996 149,683,139 Preferred stock 99,945 775 - 100,720 Equity securities Mutual funds 347,942 1,124 - 349,066 Corporate common stock 154,977 67,384 - 222,361 Total equity securities 502,919 68,508 - 571,427 Total fixed maturity, preferred stock and equity securities $ 144,224,811 $ 6,880,471 $ 749,996 $ 150,355,286 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, 2018 December 31, 2017 Unrealized Number of Fair Value Loss Securities March 31, 2018 (Unaudited) Fixed maturity securities Less than 12 months U.S. government and U.S. government agencies $ 121,201 $ 3,855 1 States and political subdivisions 1,541,543 12,318 9 Corporate bonds 25,967,725 620,075 94 Foreign bonds 9,290,016 250,401 30 Total less than 12 months 36,920,485 886,649 134 More than 12 months U.S. government and U.S. government agencies 1,466,728 88,298 5 States and political subdivisions 300,253 14,379 3 Corporate bonds 5,055,807 482,996 26 Foreign bonds 497,625 77,507 3 Total more than 12 months 7,320,413 663,180 37 Total fixed maturity securities in an unrealized loss position 44,240,898 1,549,829 171 Preferred stock, less than 12 months in an unrealized loss position 46,580 3,420 1 Equity securities Less than 12 months Mutual funds 90,949 1,032 1 Corporate common stock 48,061 7,298 1 Total less than 12 months 139,010 8,330 2 Total equity securities in an unrealized loss position 139,010 8,330 2 Total fixed maturity, preferred stock and equity securities in an unrealized loss position $ 44,426,488 $ 1,561,579 $ 174 December 31, 2017 Fixed maturity securities Less than 12 months U.S. government and U.S. government agencies $ 326,163 $ 3,897 2 States and political subdivisions 608,342 6,889 3 Corporate bonds 5,995,898 130,337 23 Foreign bonds 2,061,178 98,520 7 Total less than 12 months 8,991,581 239,643 35 More than 12 months U.S. government and U.S. government agencies 1,338,617 61,444 5 States and political subdivisions 579,008 13,259 4 Corporate bonds 5,139,898 361,219 20 Foreign bonds 501,875 74,431 3 Total more than 12 months 7,559,398 510,353 32 Total fixed maturity securities in an unrealized loss position $ 16,550,979 $ 749,996 67 As of March 31, 2018, 171 $1,549,829, $44,240,898 $45,790,727. March 31, 2018. 171 97%. As of December 31, 2017, 67 $749,996, $16,550,979 $17,300,975. December 31, 2017. 67 96%. As of March 31, 2018, two $8,330, $139,010 $147,340. 94%. As of March 31, 2018, one $3,420, $46,580 $50,000. 93%. As of December 31, 2017, no Fixed maturity securities were 94% 93% March 31, 2018 December 31, 2017, 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 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 There were no three March 31, 2018 2017. Management believes that the Company will fully recover its cost basis in the securities held as of March 31, 2018, not not 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, 2018 December 31, 2017, (Unaudited) March 31, 2018 December 31, 2017 Unrealized appreciation on available-for-sale securities $ 1,682,347 $ 6,130,475 Adjustment to deferred acquisition costs (28,265 ) (103,955 ) Deferred income taxes (347,357 ) (1,265,569 ) Net unrealized appreciation on available-for-sale securities $ 1,306,725 $ 4,760,951 The Company’s investment in lottery prize cash flows categorized as other long-term investments in the statement of financial position was $58,812,011 $55,814,583 March 31, 2018 December 31, 2017, The amortized cost and fair value of fixed maturity available-for-sale securities and other long-term investments as of March 31, 2018, March 31, 2018 (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 $ 7,068,678 $ 7,118,325 $ 8,288,729 $ 8,421,481 Due after one year through five years 32,664,766 32,900,771 24,284,554 26,437,976 Due after five years through ten years 42,383,631 42,416,310 17,031,585 20,834,725 Due after ten years 65,615,344 66,943,942 9,207,143 14,552,677 Due at multiple maturity dates 26,600 65,023 - - $ 147,759,019 $ 149,444,371 $ 58,812,011 $ 70,246,859 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, mortgage loans on real estate and investment real estate for the three March 31, 2018 2017 Three Months Ended March 31, (Unaudited) Fixed Maturity Securities Equity Securities Mortgage Loans on Real Estate Investment Real Estate 2018 2017 2018 2017 2018 2017 2018 2017 Proceeds $ 2,579,791 $ 4,449,231 $ 412 $ - $ 6,810,769 $ 5,125,389 $ - $ 107,167 Gross realized gains 6,101 171,105 106 - - - - 2,487 Gross realized losses (7,271 ) (7,086 ) - - - - - - The accumulated change in unrealized investment gains (losses) for fixed maturity and preferred stock available-for-sale and equity securities for the three March 31, 2018 2017 three March 31, 2018 2017 Three Months Ended March 31, (Unaudited) 2018 2017 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ (4,375,840 ) $ 1,061,041 Preferred stock (3,780 ) 5,600 Equity securities - 12,424 Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities (1,170 ) 164,019 Equity securities, sale of securities 106 - Equity securities, changes in fair value (23,720 ) - Investment real estate - 2,487 Major categories of net investment income for the three March 31, 2018 2017 Three Months Ended March 31, (Unaudited) 2018 2017 Fixed maturity securities $ 1,630,474 $ 1,490,370 Preferred stock and equity securities 5,083 5,072 Other long-term investments 970,056 857,470 Mortgage loans 2,488,413 1,667,394 Policy loans 29,083 27,564 Real estate 94,003 93,711 Short-term and other investments 41,742 110,286 Gross investment income 5,258,854 4,251,867 Investment expenses (574,612 ) (581,996 ) Net investment income $ 4,684,242 $ 3,669,871 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, 2018 December 31, 2017, $4,324,612 $4,308,853, March 31, 2018 December 31, 2017, $4,269,713 $4,307,439, The Company’s mortgage loans by property type as of March 31, 2018 December 31, 2017 (Unaudited) March 31, 2018 December 31, 2017 Commercial and industrial mortgage loans Retail stores $ 1,205,371 $ 1,227,894 Office buildings 1,002,569 137,703 Industrial 428,233 430,613 Total commercial and industrial mortgage loans 2,636,173 1,796,210 Residential mortgage loans 109,276,025 100,700,241 Total mortgage loans $ 111,912,198 $ 102,496,451 The Company’s investment real estate as of March 31, 2018 December 31, 2017 (Unaudited) March 31, 2018 December 31, 2017 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 (1,231,555 ) (1,195,183 ) Buildings net of accumulated depreciation 1,036,002 1,072,374 Residential real estate - held for sale 352,277 352,277 Total residential real estate 352,277 352,277 Investment real estate, net of accumulated depreciation $ 2,346,594 $ 2,382,966 TLIC owns approximately six one 20,000 one fourth one four three one During first 2017, $104,680. $2,487 $107,167.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
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, preferred stock 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 not 2 Level 3 no 3 not 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, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total March 31, 2018 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,895,741 $ - $ 2,895,741 States and political subdivisions - 9,555,675 - 9,555,675 Residential mortgage-backed securities - 65,023 - 65,023 Corporate bonds - 114,864,903 - 114,864,903 Foreign bonds - 22,063,029 - 22,063,029 Total fixed maturity securities $ - $ 149,444,371 $ - $ 149,444,371 Preferred stock, available-for-sale $ 96,940 $ - $ - $ 96,940 Equity securities Mutual funds $ - $ 347,877 $ - $ 347,877 Corporate common stock 138,992 - 61,500 200,492 Total equity securities $ 138,992 $ 347,877 $ 61,500 $ 548,369 December 31, 2017 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,973,067 $ - $ 2,973,067 States and political subdivisions - 9,685,687 - 9,685,687 Residential mortgage-backed securities - 71,309 - 71,309 Corporate bonds - 114,097,008 - 114,097,008 Foreign bonds - 22,856,068 - 22,856,068 Total fixed maturity securities $ - $ 149,683,139 $ - $ 149,683,139 Preferred stock, available-for-sale $ 100,720 $ - $ - $ 100,720 Equity securities Mutual funds $ - $ 349,066 $ - $ 349,066 Corporate common stock 160,861 - 61,500 222,361 Total equity securities $ 160,861 $ 349,066 $ 61,500 $ 571,427 As of March 31, 2018 December 31, 2017, 3 two no 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 significant 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 third 2 2 The Company’s preferred stock is included in level 1 1 2 3. 1 2 not The Company’s fixed maturity and preferred stock available-for-sale and equity securities 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 March 31, 2018 December 31, 2017, Financial Instruments Disclosed, But Not Carrying Fair Amount Value Level 1 Level 2 Level 3 March 31, 2018 (Unaudited) Financial assets Mortgage loans on real estate Commercial and Industrial $ 2,636,173 $ 2,602,467 $ - $ - $ 2,602,467 Residential 109,276,025 108,061,937 - - 108,061,937 Policy loans 1,647,320 1,647,320 - - 1,647,320 Short-term investments 2,543,912 2,543,912 2,543,912 - - Other long-term investments 58,812,011 70,246,859 - - 70,246,859 Cash and cash equivalents 17,805,871 17,805,871 17,805,871 - - Accrued investment income 2,624,443 2,624,443 - - 2,624,443 Total financial assets $ 195,345,755 $ 205,532,809 $ 20,349,783 $ - $ 185,183,026 Financial liabilities Policyholders' account balances $ 295,489,982 $ 239,774,228 $ - $ - $ 239,774,228 Policy claims 1,213,535 1,213,535 - - 1,213,535 Total financial liabilities $ 296,703,517 $ 240,987,763 $ - $ - $ 240,987,763 December 31, 2017 Financial assets Mortgage loans on real estate Commercial and Industrial $ 1,796,210 $ 1,783,385 $ - $ - $ 1,783,385 Residential 100,700,241 102,192,001 - - 102,192,001 Policy loans 1,660,175 1,660,175 - - 1,660,175 Short-term investments 547,969 547,969 547,969 - - Other long-term investments 55,814,583 68,298,585 - - 68,298,585 Cash and cash equivalents 31,496,159 31,496,159 31,496,159 - - Accrued investment income 2,544,963 2,544,963 - - 2,544,963 Total financial assets $ 194,560,300 $ 208,523,237 $ 32,044,128 $ - $ 176,479,109 Financial liabilities Policyholders' account balances $ 292,909,762 $ 243,234,637 $ - $ - $ 243,234,637 Policy claims 1,148,513 1,148,513 - - 1,148,513 Total financial liabilities $ 294,058,275 $ 244,383,150 $ - $ - $ 244,383,150 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 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: 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 and industrial mortgage loans, the discount rate used was assumed to be the interest rate on the last commercial and industrial mortgage acquired by the Company. Cash and Cash Equivalents, Short-Term Investments, Accrued Investment Income and Policy Loans The carrying value of these financial instruments approximates their fair values. Cash and cash equivalents and short-term investments 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 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, 2018
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, 2018 December 31, 2017 three March 31, 2018 2017 Three Months Ended March 31, (Unaudited) 2018 2017 Revenues: Life insurance operations $ 5,176,172 $ 4,184,653 Annuity operations 3,878,137 3,188,969 Corporate operations 113,111 134,337 Total $ 9,167,420 $ 7,507,959 Income before income taxes: Life insurance operations $ 171,519 $ 117,848 Annuity operations 957,389 160,414 Corporate operations 82,539 71,255 Total $ 1,211,447 $ 349,517 Depreciation and amortization expense: Life insurance operations $ 692,390 $ 414,284 Annuity operations 270,506 420,048 Total $ 962,896 $ 834,332 (Unaudited) March 31, 2018 December 31, 2017 Assets: Life insurance operations $ 58,189,403 $ 56,780,793 Annuity operations 329,791,790 328,727,443 Corporate operations 5,394,297 5,619,438 Total $ 393,375,490 $ 391,127,674

Note 5 - Federal Income Taxes

Note 5 - Federal Income Taxes	3 Months Ended
	Mar. 31, 2018
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 not not 2014 2017

Note 6 - Legal Matters and Cont

Note 6 - Legal Matters and Contingent Liabilities	3 Months Ended
	Mar. 31, 2018
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. No. 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 the jury awarded the Company $800,000 $3,500,000 Mr. Pettigrew has appealed this decision but has failed to post an appeal bond. As a consequence, the Company and Mr. Zahn are in the process of executing on the judgments against Mr. Pettigrew’s assets. The Company and Mr. Zahn have so far collected some property and money in the execution process and will continue to execute on the judgments. Any money or property collected to date during the execution of the judgments are held in an escrow by a third not March 31, 2018 Prior to being acquired by TLIC, FBLIC developed, marketed, and sold life insurance products known as “Decreasing Term to 95” January 17, 2013, March 1, 2013, not not 95 November 22, 2013, November 27, 2017 December 1, 2017 two 1 95 376.360 2 3 Following the conclusion of the trial, subject to the approval of the Court, the parties reached a settlement resolving both the individual and class claims. If approved by the Court, FBLIC will pay $1.85 December 31, 2017 95 March 2018, $925,000 third not 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 (Loss) and Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	7 . Ot her Comprehensive Income (Loss) and Accumulated O ther Comprehensive Income The changes in the components of the Company’s accumulated other comprehensive income for the three March 31, 2018 2017 Three Months Ended March 31, 2018 and 2017 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income Balance as of January 1, 2018 $ 4,843,061 $ (82,110 ) $ 4,760,951 Other comprehensive loss before reclassifications, net of tax (3,514,945 ) 59,795 (3,455,150 ) Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax (924 ) - (924 ) Other comprehensive loss (3,514,021 ) 59,795 (3,454,226 ) Balance as of March 31, 2018 $ 1,329,040 $ (22,315 ) $ 1,306,725 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 having no credit losses, 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 The pretax components of the Company’s other comprehensive income and the related income tax expense for each component for the three March 31, 2018 2017 Income Tax Pretax Expense Net of Tax Three Months Ended March 31, 2018 (Unaudited) Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (4,449,298 ) $ (934,353 ) $ (3,514,945 ) Reclassification adjustment for net losses included in operations having no credit losses (1,170 ) (246 ) (924 ) Net unrealized losses on investments (4,448,128 ) (934,107 ) (3,514,021 ) Adjustment to deferred acquisition costs 75,690 15,895 59,795 Total other comprehensive loss $ (4,372,438 ) $ (918,212 ) $ (3,454,226 ) 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 having no credit losses 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 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, 2018 2017 Three Months Ended March 31, (Unaudited) Reclassification Adjustments 2018 2017 Unrealized gains on available-for-sale securities having no credit losses: Realized gains (losses) on sales of securities (a) $ (1,170 ) $ 164,019 Income tax expense (benefit) (b) (246 ) 32,804 Total reclassification adjustments $ (924 ) $ 131,215 (a) These items appear within net realized investment gains (losses) in the consolidated statements of operations. (b) These items appear within federal income taxes in the consolidated statements 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, 2018
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 and industrial 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 and industrial 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 and industrial 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 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 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, 2018, $615,804 third March 31, 2018, $440,154 $5,239,896 March 31, 2018 $175,650 $35,129,998 $384,018 $76,782,200 March 31, 2018. As of December 31, 2017, $564,479 third December 31, 2017, $394,978 $4,925,259 December 31, 2017 $169,501 $33,900,260 $342,815 $68,596,191 December 31, 2017. Through June 30, 2012, 80% 20% 25 December 31, 2016 December 2016, no June 30, 2012. The balances of and changes in the Company’s credit losses related to mortgage loans on real estate as of and for the three March 31, 2018 2017 $35,129,998 $29,677,438 March 31, 2018 2017, one third As of and for the Three Months Ended March 31, (Unaudited) Residential Mortgage Loans Commercial and Industrial Mortgage Loans Total 2018 2017 2018 2017 2018 2017 Allowance, beginning $ 333,789 $ 238,121 $ 9,026 $ 6,306 $ 342,815 $ 244,427 Charge offs - - - - - - Recoveries - - - - - - Provision 36,982 42,163 4,221 (109 ) 41,203 42,054 Allowance, ending $ 370,771 $ 280,284 $ 13,247 $ 6,197 $ 384,018 $ 286,481 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 370,771 $ 280,284 $ 13,247 $ 6,197 $ 384,018 $ 286,481 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 74,146,027 $ 55,968,265 $ 2,636,173 $ 1,233,145 $ 76,782,200 $ 57,201,410 The Company utilizes the ratio of the carrying value of individual residential and commercial and industrial 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 and industrial mortgage loans on real estate by credit quality using this ratio as of March 31, 2018 December 31, 2017 Residential Mortgage Loans Commercial and Industrial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Over 70% to 80% $ 22,825,014 $ 19,515,632 $ - $ - $ 22,825,014 $ 19,515,632 Over 60% to 70% 38,701,438 36,192,035 - - 38,701,438 36,192,035 Over 50% to 60% 24,827,848 25,121,248 825,609 835,093 25,653,457 25,956,341 Over 40% to 50% 13,223,048 12,923,381 746,250 - 13,969,298 12,923,381 Over 30% to 40% 4,391,656 4,303,273 773,944 658,296 5,165,600 4,961,569 Over 20% to 30% 2,309,905 1,867,670 148,222 159,671 2,458,127 2,027,341 Over 10% to 20% 2,127,712 727,245 142,148 143,150 2,269,860 870,395 10% or less 869,404 49,757 - - 869,404 49,757 Total $ 109,276,025 $ 100,700,241 $ 2,636,173 $ 1,796,210 $ 111,912,198 $ 102,496,451

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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 X. not The results of operations for the three March 31, 2018 not December 31, 2018 not 10 December 31, 2017.
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.
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
Subsequent Events, Policy [Policy Text Block]	Subsequent Events Management has evaluated all events subsequent to March 31, 2018
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Revenue from Contracts with Customers In May 2014, not 1 2 3 4 5 July 2015, one March 31, 2018. not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, This guidance is effective for fiscal years beginning after December 15, 2017. not not 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. not 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 The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. not Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In August 2016, eight December 15, 2017, not Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In November 2016, The updated guidance is effective for annual and interim periods beginning after December 15, 2017, not Business Combinations – Clarifying the Definition of a Business In January 2017, not The updated guidance is effective for annual and interim periods beginning after December 15, 2017, not Intangibles – Goodwill and Other - Simplifying the Test for Goodwill Impairment In January 2017, no December 15, 2019, January 1, 2017. not Compensation — Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, one The updated guidance is effective for reporting periods beginning after December 15, 2017. first not not no Compensation — Stock Compensation: Scope of Modification Accounting In May 2017, The updated guidance is effective for the quarter ending March 31, 2018. not not Target Improvement to Accounting for Hedging Activities In August 2017, The updated guidance is effective for reporting periods beginning after December 15, 2018. December 15, 2018. not not no Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On February 14, 2018, 2017. 2017 December 15, 2018 2017 The Company adopted the updated guidance effective December 31, 2017. not

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 2,952,786 $ 35,108 $ 92,153 $ 2,895,741 States and political subdivisions 9,350,717 231,655 26,697 9,555,675 Residential mortgage-backed securities 26,600 38,423 - 65,023 Corporate bonds 113,497,658 2,470,316 1,103,071 114,864,903 Foreign bonds 21,931,258 459,679 327,908 22,063,029 Total fixed maturity securities 147,759,019 3,235,181 1,549,829 149,444,371 Preferred stock 99,945 415 3,420 96,940 Equity securities Mutual funds 348,909 - 1,032 347,877 Corporate common stock 154,672 53,118 7,298 200,492 Total equity securities 503,581 53,118 8,330 548,369 Total fixed maturity, preferred stock and equity securities $ 148,362,545 $ 3,288,714 $ 1,561,579 $ 150,089,680 December 31, 2017 Fixed maturity securities U.S. government and U.S. government agencies $ 2,989,688 $ 48,720 $ 65,341 $ 2,973,067 States and political subdivisions 9,368,393 337,442 20,148 9,685,687 Residential mortgage-backed securities 29,573 41,736 - 71,309 Corporate bonds 109,340,273 5,248,291 491,556 114,097,008 Foreign bonds 21,894,020 1,134,999 172,951 22,856,068 Total fixed maturity securities 143,621,947 6,811,188 749,996 149,683,139 Preferred stock 99,945 775 - 100,720 Equity securities Mutual funds 347,942 1,124 - 349,066 Corporate common stock 154,977 67,384 - 222,361 Total equity securities 502,919 68,508 - 571,427 Total fixed maturity, preferred stock and equity securities $ 144,224,811 $ 6,880,471 $ 749,996 $ 150,355,286
Schedule of Unrealized Loss on Investments [Table Text Block]	Unrealized Number of Fair Value Loss Securities March 31, 2018 (Unaudited) Fixed maturity securities Less than 12 months U.S. government and U.S. government agencies $ 121,201 $ 3,855 1 States and political subdivisions 1,541,543 12,318 9 Corporate bonds 25,967,725 620,075 94 Foreign bonds 9,290,016 250,401 30 Total less than 12 months 36,920,485 886,649 134 More than 12 months U.S. government and U.S. government agencies 1,466,728 88,298 5 States and political subdivisions 300,253 14,379 3 Corporate bonds 5,055,807 482,996 26 Foreign bonds 497,625 77,507 3 Total more than 12 months 7,320,413 663,180 37 Total fixed maturity securities in an unrealized loss position 44,240,898 1,549,829 171 Preferred stock, less than 12 months in an unrealized loss position 46,580 3,420 1 Equity securities Less than 12 months Mutual funds 90,949 1,032 1 Corporate common stock 48,061 7,298 1 Total less than 12 months 139,010 8,330 2 Total equity securities in an unrealized loss position 139,010 8,330 2 Total fixed maturity, preferred stock and equity securities in an unrealized loss position $ 44,426,488 $ 1,561,579 $ 174 December 31, 2017 Fixed maturity securities Less than 12 months U.S. government and U.S. government agencies $ 326,163 $ 3,897 2 States and political subdivisions 608,342 6,889 3 Corporate bonds 5,995,898 130,337 23 Foreign bonds 2,061,178 98,520 7 Total less than 12 months 8,991,581 239,643 35 More than 12 months U.S. government and U.S. government agencies 1,338,617 61,444 5 States and political subdivisions 579,008 13,259 4 Corporate bonds 5,139,898 361,219 20 Foreign bonds 501,875 74,431 3 Total more than 12 months 7,559,398 510,353 32 Total fixed maturity securities in an unrealized loss position $ 16,550,979 $ 749,996 67
Unrealized Gain (Loss) on Investments [Table Text Block]	(Unaudited) March 31, 2018 December 31, 2017 Unrealized appreciation on available-for-sale securities $ 1,682,347 $ 6,130,475 Adjustment to deferred acquisition costs (28,265 ) (103,955 ) Deferred income taxes (347,357 ) (1,265,569 ) Net unrealized appreciation on available-for-sale securities $ 1,306,725 $ 4,760,951
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 2018 2017 2018 2017 2018 2017 2018 2017 Proceeds $ 2,579,791 $ 4,449,231 $ 412 $ - $ 6,810,769 $ 5,125,389 $ - $ 107,167 Gross realized gains 6,101 171,105 106 - - - - 2,487 Gross realized losses (7,271 ) (7,086 ) - - - - - -
Available-for-sale Securities [Table Text Block]	Three Months Ended March 31, (Unaudited) 2018 2017 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ (4,375,840 ) $ 1,061,041 Preferred stock (3,780 ) 5,600 Equity securities - 12,424 Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities (1,170 ) 164,019 Equity securities, sale of securities 106 - Equity securities, changes in fair value (23,720 ) - Investment real estate - 2,487
Investment Income [Table Text Block]	Three Months Ended March 31, (Unaudited) 2018 2017 Fixed maturity securities $ 1,630,474 $ 1,490,370 Preferred stock and equity securities 5,083 5,072 Other long-term investments 970,056 857,470 Mortgage loans 2,488,413 1,667,394 Policy loans 29,083 27,564 Real estate 94,003 93,711 Short-term and other investments 41,742 110,286 Gross investment income 5,258,854 4,251,867 Investment expenses (574,612 ) (581,996 ) Net investment income $ 4,684,242 $ 3,669,871
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(Unaudited) March 31, 2018 December 31, 2017 Commercial and industrial mortgage loans Retail stores $ 1,205,371 $ 1,227,894 Office buildings 1,002,569 137,703 Industrial 428,233 430,613 Total commercial and industrial mortgage loans 2,636,173 1,796,210 Residential mortgage loans 109,276,025 100,700,241 Total mortgage loans $ 111,912,198 $ 102,496,451
Schedule of Real Estate Properties [Table Text Block]	(Unaudited) March 31, 2018 December 31, 2017 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 (1,231,555 ) (1,195,183 ) Buildings net of accumulated depreciation 1,036,002 1,072,374 Residential real estate - held for sale 352,277 352,277 Total residential real estate 352,277 352,277 Investment real estate, net of accumulated depreciation $ 2,346,594 $ 2,382,966
Available For Sale Fixed Maturity Securities [Member]
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	March 31, 2018 (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 $ 7,068,678 $ 7,118,325 $ 8,288,729 $ 8,421,481 Due after one year through five years 32,664,766 32,900,771 24,284,554 26,437,976 Due after five years through ten years 42,383,631 42,416,310 17,031,585 20,834,725 Due after ten years 65,615,344 66,943,942 9,207,143 14,552,677 Due at multiple maturity dates 26,600 65,023 - - $ 147,759,019 $ 149,444,371 $ 58,812,011 $ 70,246,859

Note 3 - Fair Value Measureme19

Note 3 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total March 31, 2018 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,895,741 $ - $ 2,895,741 States and political subdivisions - 9,555,675 - 9,555,675 Residential mortgage-backed securities - 65,023 - 65,023 Corporate bonds - 114,864,903 - 114,864,903 Foreign bonds - 22,063,029 - 22,063,029 Total fixed maturity securities $ - $ 149,444,371 $ - $ 149,444,371 Preferred stock, available-for-sale $ 96,940 $ - $ - $ 96,940 Equity securities Mutual funds $ - $ 347,877 $ - $ 347,877 Corporate common stock 138,992 - 61,500 200,492 Total equity securities $ 138,992 $ 347,877 $ 61,500 $ 548,369 December 31, 2017 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,973,067 $ - $ 2,973,067 States and political subdivisions - 9,685,687 - 9,685,687 Residential mortgage-backed securities - 71,309 - 71,309 Corporate bonds - 114,097,008 - 114,097,008 Foreign bonds - 22,856,068 - 22,856,068 Total fixed maturity securities $ - $ 149,683,139 $ - $ 149,683,139 Preferred stock, available-for-sale $ 100,720 $ - $ - $ 100,720 Equity securities Mutual funds $ - $ 349,066 $ - $ 349,066 Corporate common stock 160,861 - 61,500 222,361 Total equity securities $ 160,861 $ 349,066 $ 61,500 $ 571,427
Fair Value, by Balance Sheet Grouping [Table Text Block]	Carrying Fair Amount Value Level 1 Level 2 Level 3 March 31, 2018 (Unaudited) Financial assets Mortgage loans on real estate Commercial and Industrial $ 2,636,173 $ 2,602,467 $ - $ - $ 2,602,467 Residential 109,276,025 108,061,937 - - 108,061,937 Policy loans 1,647,320 1,647,320 - - 1,647,320 Short-term investments 2,543,912 2,543,912 2,543,912 - - Other long-term investments 58,812,011 70,246,859 - - 70,246,859 Cash and cash equivalents 17,805,871 17,805,871 17,805,871 - - Accrued investment income 2,624,443 2,624,443 - - 2,624,443 Total financial assets $ 195,345,755 $ 205,532,809 $ 20,349,783 $ - $ 185,183,026 Financial liabilities Policyholders' account balances $ 295,489,982 $ 239,774,228 $ - $ - $ 239,774,228 Policy claims 1,213,535 1,213,535 - - 1,213,535 Total financial liabilities $ 296,703,517 $ 240,987,763 $ - $ - $ 240,987,763 December 31, 2017 Financial assets Mortgage loans on real estate Commercial and Industrial $ 1,796,210 $ 1,783,385 $ - $ - $ 1,783,385 Residential 100,700,241 102,192,001 - - 102,192,001 Policy loans 1,660,175 1,660,175 - - 1,660,175 Short-term investments 547,969 547,969 547,969 - - Other long-term investments 55,814,583 68,298,585 - - 68,298,585 Cash and cash equivalents 31,496,159 31,496,159 31,496,159 - - Accrued investment income 2,544,963 2,544,963 - - 2,544,963 Total financial assets $ 194,560,300 $ 208,523,237 $ 32,044,128 $ - $ 176,479,109 Financial liabilities Policyholders' account balances $ 292,909,762 $ 243,234,637 $ - $ - $ 243,234,637 Policy claims 1,148,513 1,148,513 - - 1,148,513 Total financial liabilities $ 294,058,275 $ 244,383,150 $ - $ - $ 244,383,150

Note 4 - Segment Data (Tables)

Note 4 - Segment Data (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, (Unaudited) 2018 2017 Revenues: Life insurance operations $ 5,176,172 $ 4,184,653 Annuity operations 3,878,137 3,188,969 Corporate operations 113,111 134,337 Total $ 9,167,420 $ 7,507,959 Income before income taxes: Life insurance operations $ 171,519 $ 117,848 Annuity operations 957,389 160,414 Corporate operations 82,539 71,255 Total $ 1,211,447 $ 349,517 Depreciation and amortization expense: Life insurance operations $ 692,390 $ 414,284 Annuity operations 270,506 420,048 Total $ 962,896 $ 834,332
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	(Unaudited) March 31, 2018 December 31, 2017 Assets: Life insurance operations $ 58,189,403 $ 56,780,793 Annuity operations 329,791,790 328,727,443 Corporate operations 5,394,297 5,619,438 Total $ 393,375,490 $ 391,127,674

Note 7 - Other Comprehensive 21

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended March 31, 2018 and 2017 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income Balance as of January 1, 2018 $ 4,843,061 $ (82,110 ) $ 4,760,951 Other comprehensive loss before reclassifications, net of tax (3,514,945 ) 59,795 (3,455,150 ) Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax (924 ) - (924 ) Other comprehensive loss (3,514,021 ) 59,795 (3,454,226 ) Balance as of March 31, 2018 $ 1,329,040 $ (22,315 ) $ 1,306,725 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 having no credit losses, 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
Comprehensive Income (Loss) [Table Text Block]	Income Tax Pretax Expense Net of Tax Three Months Ended March 31, 2018 (Unaudited) Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (4,449,298 ) $ (934,353 ) $ (3,514,945 ) Reclassification adjustment for net losses included in operations having no credit losses (1,170 ) (246 ) (924 ) Net unrealized losses on investments (4,448,128 ) (934,107 ) (3,514,021 ) Adjustment to deferred acquisition costs 75,690 15,895 59,795 Total other comprehensive loss $ (4,372,438 ) $ (918,212 ) $ (3,454,226 ) 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 having no credit losses 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
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended March 31, (Unaudited) Reclassification Adjustments 2018 2017 Unrealized gains on available-for-sale securities having no credit losses: Realized gains (losses) on sales of securities (a) $ (1,170 ) $ 164,019 Income tax expense (benefit) (b) (246 ) 32,804 Total reclassification adjustments $ (924 ) $ 131,215

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, 2018
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 and Industrial Mortgage Loans Total 2018 2017 2018 2017 2018 2017 Allowance, beginning $ 333,789 $ 238,121 $ 9,026 $ 6,306 $ 342,815 $ 244,427 Charge offs - - - - - - Recoveries - - - - - - Provision 36,982 42,163 4,221 (109 ) 41,203 42,054 Allowance, ending $ 370,771 $ 280,284 $ 13,247 $ 6,197 $ 384,018 $ 286,481 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 370,771 $ 280,284 $ 13,247 $ 6,197 $ 384,018 $ 286,481 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 74,146,027 $ 55,968,265 $ 2,636,173 $ 1,233,145 $ 76,782,200 $ 57,201,410
Financing Receivable Credit Quality Indicators [Table Text Block]	Residential Mortgage Loans Commercial and Industrial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Over 70% to 80% $ 22,825,014 $ 19,515,632 $ - $ - $ 22,825,014 $ 19,515,632 Over 60% to 70% 38,701,438 36,192,035 - - 38,701,438 36,192,035 Over 50% to 60% 24,827,848 25,121,248 825,609 835,093 25,653,457 25,956,341 Over 40% to 50% 13,223,048 12,923,381 746,250 - 13,969,298 12,923,381 Over 30% to 40% 4,391,656 4,303,273 773,944 658,296 5,165,600 4,961,569 Over 20% to 30% 2,309,905 1,867,670 148,222 159,671 2,458,127 2,027,341 Over 10% to 20% 2,127,712 727,245 142,148 143,150 2,269,860 870,395 10% or less 869,404 49,757 - - 869,404 49,757 Total $ 109,276,025 $ 100,700,241 $ 2,636,173 $ 1,796,210 $ 111,912,198 $ 102,496,451

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, 2018$ / shares

Dec. 31, 2004USD ($)

Dec. 31, 2012USD ($)shares

Mar. 08, 2013USD ($)

Mar. 08, 2013USD ($)shares

Mar. 31, 2018USD ($)$ / sharesshares

Dec. 31, 2017$ / shares

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

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

$ 0.01

Retained Earnings [Member]

Dividends, Total

$ 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%

Business Combination, Consideration Transferred, Total

$ 13,855,129

First Trinity Financial Corporation [Member] | First Life America Corporation [Member

Business Acquisition, Percentage of Voting Interests Acquired

100.00%

Business Combination, Consideration Transferred, Total

$ 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%

100.00%

Family Benefit Life Insurance Company [Member] | Trinity Life Insurance Company [Member]

Wholly Owned Subsidiary Ownership Percentage

100.00%

100.00%

First Trinity Capital Corporation [Member]

Wholly Owned Subsidiary Ownership Percentage

100.00%

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)	3 Months Ended
	Mar. 31, 2018USD ($)ft²a	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	174
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total	$ 1,561,579
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	44,426,488
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held, Ending Balance	0	$ 0
Deposit Assets, Total	4,324,612		$ 4,308,853
Other Assets, Fair Value Disclosure	4,269,713		$ 4,307,439
Real Estate Investments, Carrying Value of Real Estate Property Sold During the Period		104,680
Gains (Losses) on Sales of Investment Real Estate		2,487
Proceeds from Sale of Real Estate Held-for-investment, Total		$ 107,167
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
Debt Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	171		67
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total	$ 1,549,829		$ 749,996
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	44,240,898		16,550,979
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost	$ 45,790,727		$ 17,300,975
Fair Value to Cost Ratio	97.00%		96.00%
Fixed Maturity Securities, Investment Grade Percentage	94.00%		93.00%
Equity Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	2		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total	$ 8,330
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	139,010
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost	$ 147,340
Fair Value to Cost Ratio	94.00%
Preferred Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total	$ 3,420
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	46,580
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost	$ 50,000
Fair Value to Cost Ratio	93.00%
Lottery Prize Cash Flows [Member]
Other Investments, Total	$ 58,812,011		$ 55,814,583

Note 2 - Investments - Availabl

Note 2 - Investments - Available-for-sale Fixed Maturity and Equity Securities (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Securities, amortized cost	$ 148,362,545	$ 144,224,811
Securities, gross unrealized gains	3,288,714	6,880,471
Securities, gross unrealized losses	1,561,579	749,996
Available-for-sale securities	150,089,680	150,355,286
US Treasury and Government [Member]
Securities, amortized cost	2,952,786	2,989,688
Securities, gross unrealized gains	35,108	48,720
Securities, gross unrealized losses	92,153	65,341
Available-for-sale securities	2,895,741	2,973,067
US States and Political Subdivisions Debt Securities [Member]
Securities, amortized cost	9,350,717	9,368,393
Securities, gross unrealized gains	231,655	337,442
Securities, gross unrealized losses	26,697	20,148
Available-for-sale securities	9,555,675	9,685,687
Residential Mortgage Backed Securities [Member]
Securities, amortized cost	26,600	29,573
Securities, gross unrealized gains	38,423	41,736
Securities, gross unrealized losses
Available-for-sale securities	65,023	71,309
Corporate Debt Securities [Member]
Securities, amortized cost	113,497,658	109,340,273
Securities, gross unrealized gains	2,470,316	5,248,291
Securities, gross unrealized losses	1,103,071	491,556
Available-for-sale securities	114,864,903	114,097,008
Debt Security, Government, Non-US [Member]
Securities, amortized cost	21,931,258	21,894,020
Securities, gross unrealized gains	459,679	1,134,999
Securities, gross unrealized losses	327,908	172,951
Available-for-sale securities	22,063,029	22,856,068
Debt Securities [Member]
Securities, amortized cost	147,759,019	143,621,947
Securities, gross unrealized gains	3,235,181	6,811,188
Securities, gross unrealized losses	1,549,829	749,996
Available-for-sale securities	149,444,371	149,683,139
Preferred Stock [Member]
Securities, amortized cost	99,945	99,945
Securities, gross unrealized gains	415	775
Securities, gross unrealized losses	3,420
Available-for-sale securities	96,940	100,720
Mutual Fund [Member]
Securities, amortized cost	348,909	347,942
Securities, gross unrealized gains		1,124
Securities, gross unrealized losses	1,032
Available-for-sale securities	347,877	349,066
Common Stock [Member]
Securities, amortized cost	154,672	154,977
Securities, gross unrealized gains	53,118	67,384
Securities, gross unrealized losses	7,298
Available-for-sale securities	200,492	222,361
Equity Securities [Member]
Securities, amortized cost	503,581	502,919
Securities, gross unrealized gains	53,118	68,508
Securities, gross unrealized losses	8,330
Available-for-sale securities	$ 548,369	$ 571,427

Note 2 - Investments - Securiti

Note 2 - Investments - Securities in an Unrealized Loss Position (Details)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Available-for-sale securities, continuous unrealized loss position, fair value	$ 44,426,488
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ 1,561,579
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions	174
US Government Agencies Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 121,201
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 3,855
Securities in an unrealized loss position, less than twelve months, number	1
Securities in an unrealized loss position, more than twelve months, fair value	$ 1,466,728
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 88,298
Securities in an unrealized loss position, more than twelve months, number	5
US States and Political Subdivisions Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 1,541,543	$ 608,342
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 12,318	$ 6,889
Securities in an unrealized loss position, less than twelve months, number	9	3
Securities in an unrealized loss position, more than twelve months, fair value	$ 300,253	$ 579,008
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 14,379	$ 13,259
Securities in an unrealized loss position, more than twelve months, number	3	4
Corporate Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 25,967,725	$ 5,995,898
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 620,075	$ 130,337
Securities in an unrealized loss position, less than twelve months, number	94	23
Securities in an unrealized loss position, more than twelve months, fair value	$ 5,055,807	$ 5,139,898
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 482,996	$ 361,219
Securities in an unrealized loss position, more than twelve months, number	26	20
Debt Security, Government, Non-US [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 9,290,016	$ 2,061,178
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 250,401	$ 98,520
Securities in an unrealized loss position, less than twelve months, number	30	7
Securities in an unrealized loss position, more than twelve months, fair value	$ 497,625	$ 501,875
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 77,507	$ 74,431
Securities in an unrealized loss position, more than twelve months, number	3	3
Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 36,920,485	$ 8,991,581
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 886,649	$ 239,643
Securities in an unrealized loss position, less than twelve months, number	134	35
Securities in an unrealized loss position, more than twelve months, fair value	$ 7,320,413	$ 7,559,398
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 663,180	$ 510,353
Securities in an unrealized loss position, more than twelve months, number	37	32
Available-for-sale securities, continuous unrealized loss position, fair value	$ 44,240,898	$ 16,550,979
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ 1,549,829	$ 749,996
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions	171	67
Preferred Stock [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 46,580
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 3,420
Securities in an unrealized loss position, less than twelve months, number	1
Available-for-sale securities, continuous unrealized loss position, fair value	$ 46,580
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ 3,420
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions	1	0
Mutual Fund [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 90,949
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 1,032
Securities in an unrealized loss position, less than twelve months, number	1
Common Stock [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 48,061
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 7,298
Securities in an unrealized loss position, less than twelve months, number	1
Equity Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 139,010
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 8,330
Securities in an unrealized loss position, less than twelve months, number	2
Available-for-sale securities, continuous unrealized loss position, fair value	$ 139,010
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ 8,330
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions	2	0
US Treasury and Government [Member]
Securities in an unrealized loss position, less than twelve months, fair value		$ 326,163
Securities in an unrealized loss position, less than twelve months, unrealized loss		$ 3,897
Securities in an unrealized loss position, less than twelve months, number		2
Securities in an unrealized loss position, more than twelve months, fair value		$ 1,338,617
Securities in an unrealized loss position, more than twelve months, unrealized loss		$ 61,444
Securities in an unrealized loss position, more than twelve months, number		5

Note 2 - Investments - Net Unre

Note 2 - Investments - Net Unrealized Gains Included in Accumulated Other Comprehensive Income (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Unrealized appreciation on available-for-sale securities	$ 1,682,347	$ 6,130,475
Adjustment to deferred acquisition costs	(28,265)	(103,955)
Deferred income taxes	(347,357)	(1,265,569)
Net unrealized appreciation on available-for-sale securities	$ 1,306,725	$ 4,760,951

Note 2 - Investments - Fixed Ma

Note 2 - Investments - Fixed Maturity Available-for-sale Securities by Contractual Maturities (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Fixed maturity available-for-sale securities - amortized cost	$ 147,759,019	$ 143,621,947
Fixed maturity available-for-sale securities - fair value	149,444,371	$ 149,683,139
Fixed Maturities [Member]
Due in one year or less - amortized cost	7,068,678
Due in one year or less - fair value	7,118,325
Due in one year through five years - amortized cost	32,664,766
Due after one year through five years	32,900,771
Due after five years through ten years - amortized cost	42,383,631
Due after five years through ten years - fair value	42,416,310
Due after ten years - amortized cost	65,615,344
Due after ten years - fair value	66,943,942
Due at multiple maturity dates - amortized cost	26,600
Due at multiple maturity dates - fair value	65,023
Fixed maturity available-for-sale securities - amortized cost	147,759,019
Fixed maturity available-for-sale securities - fair value	149,444,371
Other Long-term Investments [Member]
Due in one year or less - amortized cost	8,288,729
Due in one year or less - fair value	8,421,481
Due in one year through five years - amortized cost	24,284,554
Due after one year through five years	26,437,976
Due after five years through ten years - amortized cost	17,031,585
Due after five years through ten years - fair value	20,834,725
Due after ten years - amortized cost	9,207,143
Due after ten years - fair value	14,552,677
Due at multiple maturity dates - amortized cost
Due at multiple maturity dates - fair value
Fixed maturity available-for-sale securities - amortized cost	58,812,011
Fixed maturity available-for-sale securities - fair value	$ 70,246,859

Note 2 - Investments - Proceeds

Note 2 - Investments - Proceeds and Gross Realized Gains (Losses) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fixed Maturities [Member]
Proceeds from sale, maturity, or collection of investments	$ 2,579,791	$ 4,449,231
Gross realized gains on sale of investments	6,101	171,105
Gross realized losses on sale of investments	(7,271)	(7,086)
Equity Securities [Member]
Proceeds from sale, maturity, or collection of investments	412
Gross realized gains on sale of investments	106
Gross realized losses on sale of investments
Mortgages [Member]
Proceeds from sale, maturity, or collection of investments	6,810,769	5,125,389
Gross realized gains on sale of investments
Gross realized losses on sale of investments
Real Estate Investment [Member]
Proceeds from sale, maturity, or collection of investments		107,167
Gross realized gains on sale of investments		2,487
Gross realized losses on sale of investments

Note 2 - Investments - Accumula

Note 2 - Investments - Accumulated Change in Net Unrealized Investment Gains (Losses) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Change in unrealized investment gains (losses)	$ (3,514,021)	$ 863,252
Fixed Maturities [Member]
Change in unrealized investment gains (losses)	(4,375,840)	1,061,041
Fixed maturity securities	(1,170)	164,019
Preferred Stock [Member]
Change in unrealized investment gains (losses)	(3,780)	5,600
Equity Securities [Member]
Change in unrealized investment gains (losses)		12,424
Equity securities, sale of securities	106
Equity securities, changes in fair value	$ (23,720)
Real Estate Investment [Member]
Net realized investment gains (losses)		$ 2,487

Note 2 - Investments - Major Ca

Note 2 - Investments - Major Categories of Net Investment Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Gross Investment income	$ 5,258,854	$ 4,251,867
Investment expenses	(574,612)	(581,996)
Net investment income	4,684,242	3,669,871
Fixed Maturities [Member]
Gross Investment income	1,630,474	1,490,370
Preferred stock and Equity Securities [Member]
Gross Investment income	5,083	5,072
Other Long-term Investments [Member]
Gross Investment income	970,056	857,470
Mortgages [Member]
Gross Investment income	2,488,413	1,667,394
Policy Loans [Member]
Gross Investment income	29,083	27,564
Real Estate Investment [Member]
Gross Investment income	94,003	93,711
Short-term Investments [Member]
Gross Investment income	$ 41,742	$ 110,286

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans on Real Estate (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 111,912,198	$ 102,496,451
Commercial Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	2,636,173	1,796,210
Commercial Portfolio Segment [Member] | Retail Site [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	1,205,371	1,227,894
Commercial Portfolio Segment [Member] | Office Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	1,002,569	137,703
Commercial Portfolio Segment [Member] | Industrial Property [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	428,233	430,613
Residential Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 109,276,025	$ 100,700,241

Note 2 - Investments - Investme

Note 2 - Investments - Investment Real Estate (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Investment real estate, net	$ 2,346,594	$ 2,382,966
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	(1,231,555)	(1,195,183)
Investment real estate, net	1,036,002	1,072,374
Residential Real Estate - Held for Sale [Member]
Investment real estate	$ 352,277	$ 352,277

Note 3 - Fair Value Measureme34

Note 3 - Fair Value Measurements (Details Textual)	Mar. 31, 2018	Dec. 31, 2017
Number Of Private Placement Common Stocks	2	2

Note 3 - Fair Value Measureme35

Note 3 - Fair Value Measurements - Fair Value Measured on a Recurring Basis (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Available-for-sale securities		$ 150,089,680	$ 150,355,286
Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		96,940
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		96,940
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
US Treasury and Government [Member]
Available-for-sale securities		2,895,741	2,973,067
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		2,895,741	2,973,067
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		2,895,741	2,973,067
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		9,555,675	9,685,687
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		9,555,675	9,685,687
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		9,555,675	9,685,687
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		65,023	71,309
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		65,023	71,309
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		65,023	71,309
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		114,864,903	114,097,008
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		114,864,903	114,097,008
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		114,864,903	114,097,008
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Debt Security, Government, Non-US [Member]
Available-for-sale securities		22,063,029	22,856,068
Debt Security, Government, Non-US [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		22,063,029	22,856,068
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		22,063,029	22,856,068
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Debt Securities [Member]
Available-for-sale securities		149,444,371	149,683,139
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		149,444,371	149,683,139
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		149,444,371	149,683,139
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		347,877
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		347,877
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Common Stock [Member]
Available-for-sale securities		200,492	222,361
Common Stock [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		200,492	222,361
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		138,992	160,861
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		548,369	571,427
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		548,369	571,427
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		138,992	160,861
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		347,877	349,066
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities		61,500	61,500
Preferred Stock [Member]
Available-for-sale securities		96,940	100,720
Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	$ 100,720
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities	100,720
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
Mutual Fund [Member]
Available-for-sale securities		$ 347,877	349,066
Mutual Fund [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities			349,066
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities
Mutual Fund [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities			349,066
Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Available-for-sale securities

Note 3 - Fair Value Measureme36

Note 3 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Policy loans	$ 1,647,320	$ 1,660,175
Short-term investments	2,543,912	547,969
Accrued investment income	2,624,443	2,544,963
Policy claims	1,213,535	1,148,513
Reported Value Measurement [Member]
Policy loans	1,647,320	1,660,175
Short-term investments	2,543,912	547,969
Other long-term investments	58,812,011	55,814,583
Cash and cash equivalents	17,805,871	31,496,159
Accrued investment income	2,624,443	2,544,963
Total financial assets	195,345,755	194,560,300
Policyholders' account balances	295,489,982	292,909,762
Policy claims	1,213,535	1,148,513
Total financial liabilities	296,703,517	294,058,275
Reported Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate	2,636,173	1,796,210
Reported Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	109,276,025	100,700,241
Estimate of Fair Value Measurement [Member]
Policy loans	1,647,320	1,660,175
Short-term investments	2,543,912	547,969
Other long-term investments	70,246,859	68,298,585
Cash and cash equivalents	17,805,871	31,496,159
Accrued investment income	2,624,443	2,544,963
Total financial assets	205,532,809	208,523,237
Policyholders' account balances	239,774,228	243,234,637
Policy claims	1,213,535	1,148,513
Total financial liabilities	240,987,763	244,383,150
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Policy loans
Short-term investments	2,543,912	547,969
Other long-term investments
Cash and cash equivalents	17,805,871	31,496,159
Accrued investment income
Total financial assets	20,349,783	32,044,128
Policyholders' account balances
Policy claims
Total financial liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Policy loans
Short-term investments
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	1,647,320	1,660,175
Short-term investments
Other long-term investments	70,246,859	68,298,585
Cash and cash equivalents
Accrued investment income	2,624,443	2,544,963
Total financial assets	185,183,026	176,479,109
Policyholders' account balances	239,774,228	243,234,637
Policy claims	1,213,535	1,148,513
Total financial liabilities	240,987,763	244,383,150
Estimate of Fair Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate	2,602,467	1,783,385
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage loans on real estate
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage loans on real estate
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage loans on real estate	2,602,467	1,783,385
Estimate of Fair Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	108,061,937	102,192,001
Estimate of Fair Value Measurement [Member] | Residential [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage loans on real estate
Estimate of Fair Value Measurement [Member] | Residential [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage loans on real estate
Estimate of Fair Value Measurement [Member] | Residential [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage loans on real estate	$ 108,061,937	$ 102,192,001

Note 4 - Segment Data - Operati

Note 4 - Segment Data - Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Total revenue	$ 9,167,420	$ 7,507,959
Income before income taxes	1,211,447	349,517
Depreciation and amortization expense	962,896	834,332
Life Insurance Operations [Member]
Total revenue	5,176,172	4,184,653
Income before income taxes	171,519	117,848
Depreciation and amortization expense	692,390	414,284
Annuity Operations [Member]
Total revenue	3,878,137	3,188,969
Income before income taxes	957,389	160,414
Depreciation and amortization expense	270,506	420,048
Corporate Segment [Member]
Total revenue	113,111	134,337
Income before income taxes	$ 82,539	$ 71,255

Note 4 - Segment Data - Assets

Note 4 - Segment Data - Assets (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Total assets	$ 393,375,490	$ 391,127,674
Life Insurance Operations [Member]
Total assets	58,189,403	56,780,793
Annuity Operations [Member]
Total assets	329,791,790	328,727,443
Corporate Segment [Member]
Total assets	$ 5,394,297	$ 5,619,438

Note 5 - Federal Income Taxes (

Note 5 - Federal Income Taxes (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Unrecognized Tax Benefits, Ending Balance	$ 0
Domestic Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year	2,014
Domestic Tax Authority [Member] | Latest Tax Year [Member]
Open Tax Year	2,017

Note 6 - Legal Matters and Co40

Note 6 - Legal Matters and Contingent Liabilities (Details Textual) - USD ($)	Feb. 17, 2017	Mar. 31, 2018	Dec. 31, 2017
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]
Loss Contingency Accrual, Payments		$ 925,000
Decreasing Term to 95 [Member] | Pending Litigation [Member]
Loss Contingency, Estimate of Possible Loss			$ 1,850,000

Note 7 - Other Comprehensive 41

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Balance	$ 41,252,179	$ 36,280,275
Total other comprehensive income (loss)	(3,454,226)	847,652
Balance	38,806,842	37,389,405
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Balance	4,843,061	831,917
Other comprehensive loss before reclassifications, net of tax	(3,514,945)	994,467
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	(924)	131,215
Total other comprehensive income (loss)	(3,514,021)	863,252
Other comprehensive income before reclassifications, net of tax	(3,514,945)	994,467
Balance	1,329,040	1,695,169
Adjustment to Deferred Acquisition Costs [Member]
Balance	(82,110)	(13,241)
Other comprehensive loss before reclassifications, net of tax	59,795	(15,600)
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax
Total other comprehensive income (loss)	59,795	(15,600)
Other comprehensive income before reclassifications, net of tax	59,795	(15,600)
Balance	(22,315)	(28,841)
AOCI Attributable to Parent [Member]
Balance	4,760,951	818,676
Other comprehensive loss before reclassifications, net of tax	(3,455,150)	978,867
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	(924)	131,215
Total other comprehensive income (loss)	(3,454,226)	847,652
Other comprehensive income before reclassifications, net of tax	(3,455,150)	978,867
Balance	$ 1,306,725	$ 1,666,328

Note 7 - Other Comprehensive 42

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income - Other Comprehensive Income (Details) - USD ($)		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Unrealized holding losses arising during the period		$ (4,449,298)	$ 1,243,084
Unrealized holding gains arising during the period, income tax expense		(934,353)	248,617
Unrealized holding gains arising during the period, net of tax		(3,514,945)	994,467
Realized gains (losses) on sales of securities	[1]	(1,170)	164,019
Income tax expense (benefit)	[2]	(246)	32,804
Less reclassification adjustment for net losses included in income, net of tax		(924)	131,215
Net unrealized losses on investments		(4,448,128)	1,079,065
Net unrealized gains on investments, income tax expense		(934,107)	215,813
Net unrealized gains on investments, net of tax		(3,514,021)	863,252
Adjustment to deferred acquisition costs, pretax		75,690	(19,500)
Adjustment to deferred acquisition costs, income tax expense		15,895	(3,900)
Adjustment to deferred acquisition costs, net of tax		59,795	(15,600)
Total other comprehensive loss		(4,372,438)	1,059,565
Total other comprehensive income, income tax expense		(918,212)	211,913
Total other comprehensive income, net of tax		$ (3,454,226)	$ 847,652
[1]	These items appear within net realized investment gains (losses) in the consolidated statements of operations.
[2]	These items appear within federal income taxes in the consolidated statements of operations.

Note 7 - Other Comprehensive 43

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income - Reclassified From Accumulated Other Comprehensive Income (Details) - USD ($)		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Realized gains (losses) on sales of securities	[1]	$ (1,170)	$ 164,019
Income tax expense (benefit)	[2]	(246)	32,804
Total reclassification adjustments		$ (924)	$ 131,215
[1]	These items appear within net realized investment gains (losses) in the consolidated statements of operations.
[2]	These items appear within federal income taxes in the consolidated statements of operations.

Note 8 - Allowance for Loan L44

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, 2018	Dec. 31, 2017	Mar. 31, 2017
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total		$ 111,912,198	$ 102,496,451
Financing Receivable, Collectively Evaluated for Impairment		76,782,200	68,596,191
Premiums Receivable, Percent Of Premium	80.00%
Premiums Receivable Down Payment Percent Of Premium	20.00%
Premiums Receivable, Delinquent Premium Term	25 days
Independent Mortgage Loan Balances [Member]
Financing Receivable, Allowance for Credit Losses, Ending Balance		384,018	342,815
One Loan Originator and Investments [Member] | Independent Mortgage Loan Balances [Member]
Escrow Deposit		615,804	564,479
Escrow Amount Available		440,154
One Loan Originator [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total		35,129,998		$ 29,677,438
One Loan Originator [Member] | Independent Mortgage Loan Balances [Member]
Escrow Amount Available			394,978
Advances To Loan Originator		5,239,896	4,925,259
Residential Real Estate - Held for Sale [Member] | Independent Mortgage Loan Balances [Member]
Escrow Amount Available		175,650	169,501
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total		$ 35,129,998	$ 33,900,260

Note 8 - Allowance for Loan L45

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, 2018	Mar. 31, 2017	Dec. 31, 2017
Provision	$ 41,203	$ 42,054
Financing Receivable, Collectively Evaluated for Impairment	76,782,200		$ 68,596,191
Residential Portfolio Segment [Member]
Allowance, beginning	333,789	238,121
Provision	36,982	42,163
Allowance, ending	370,771	280,284
Collectively evaluated for impairment	370,771	280,284
Financing Receivable, Collectively Evaluated for Impairment	74,146,027	55,968,265
Commercial Portfolio Segment [Member]
Allowance, beginning	9,026	6,306
Provision	4,221	(109)
Allowance, ending	13,247	6,197
Collectively evaluated for impairment	13,247	6,197
Financing Receivable, Collectively Evaluated for Impairment	2,636,173	1,233,145
Premium Finance Loans [Member]
Allowance, beginning	342,815	244,427
Charge offs
Provision	41,203	42,054
Allowance, ending	384,018	286,481
Collectively evaluated for impairment	384,018	286,481
Financing Receivable, Collectively Evaluated for Impairment	$ 76,782,200	$ 57,201,410

Note 8 - Allowance for Loan L46

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
	Mar. 31, 2018	Dec. 31, 2017
Mortgage loans on real estate	$ 111,912,198	$ 102,496,451
Residential Portfolio Segment [Member]
Mortgage loans on real estate	109,276,025	100,700,241
Commercial Portfolio Segment [Member]
Mortgage loans on real estate	2,636,173	1,796,210
Loan to Value Range1 [Member]
Mortgage loans on real estate	22,825,014	19,515,632
Loan to Value Range1 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	22,825,014	19,515,632
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	$ 38,701,438	36,192,035
Loan to Value Range 2 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	38,701,438	36,192,035
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	$ 25,653,457	25,956,341
Loan to Value Range 3 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	24,827,848	25,121,248
Loan to Value Range 3 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	$ 825,609	835,093
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	$ 13,969,298	12,923,381
Loan to Value Range 4 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	13,223,048	12,923,381
Loan to Value Range 4 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	$ 746,250
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	$ 5,165,600	4,961,569
Loan to Value Range 5 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	4,391,656	4,303,273
Loan to Value Range 5 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	$ 773,944	658,296
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	$ 2,458,127	2,027,341
Loan to Value Range 6 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	2,309,905	1,867,670
Loan to Value Range 6 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	$ 148,222	159,671
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	$ 2,269,860	870,395
Loan to Value Range 7 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	2,127,712	727,245
Loan to Value Range 7 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	$ 142,148	143,150
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	$ 869,404	49,757
Loan to Value Range 8 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	869,404	49,757
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	0.00%
Loan to Value Range 8 [Member] | Maximum [Member]
Loan to value ratio	10.00%