First Trinity Financial (FTFC) 10-Q 13 Aug 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 05, 2019
Document Information [Line Items]
Entity Registrant Name	First Trinity Financial Corp.
Entity Central Index Key	0001395585
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		7,802,593
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Investments
Available-for-sale fixed maturity securities at fair value (amortized cost: $180,701,752 and $134,414,517 as of June 30, 2019 and December 31, 2018, respectively)	$ 189,041,946	$ 131,152,199
Available-for-sale preferred stock at fair value (cost: $99,945 as of June 30, 2019 and December 31, 2018)	100,480	90,580
Equity securities at fair value (cost: $184,084 and $187,122 as of June 30, 2019 and December 31, 2018, respectively)	201,404	198,668
Mortgage loans on real estate	155,823,142	130,049,610
Investment real estate	2,123,721	2,392,031
Policy loans	1,890,350	1,809,339
Short-term investments	1,814,777	896,371
Other long-term investments	64,744,938	59,255,477
Total investments	415,740,758	325,844,275
Cash and cash equivalents	27,546,376	29,665,605
Accrued investment income	5,091,843	2,672,978
Recoverable from reinsurers	1,221,773	2,323,157
Assets held in trust under coinsurance agreement	92,977,748	25,494,700
Agents' balances and due premiums	1,687,723	1,418,916
Deferred policy acquisition costs	35,089,278	29,681,737
Value of insurance business acquired	5,030,879	5,185,870
Other assets	10,057,057	11,219,612
Total assets	594,443,435	433,506,850
Policy liabilities
Policyholders' account balances	368,644,462	297,168,411
Future policy benefits	60,399,713	56,261,507
Policy claims	1,202,838	1,102,257
Other policy liabilities	75,671	72,559
Total policy liabilities	430,322,684	354,604,734
Funds withheld under coinsurance agreement	99,863,520	29,285,119
Deferred federal income taxes	4,820,102	2,373,478
Other liabilities	8,600,557	8,118,268
Total liabilities	543,606,863	394,381,599
Shareholders' equity
Common stock, par value $.01 per share (20,000,000 shares authorized, 8,050,173 issued as of June 30, 2019 and December 31, 2018 and 7,802,593 outstanding as of June 30, 2019 and December 31, 2018)	80,502	80,502
Additional paid-in capital	28,684,598	28,684,598
Treasury stock, at cost (247,580 shares as of June 30, 2019 and December 31, 2018)	(893,947)	(893,947)
Accumulated other comprehensive income (loss)	6,578,928	(2,576,631)
Accumulated earnings	16,386,491	13,830,729
Total shareholders' equity	50,836,572	39,125,251
Total liabilities and shareholders' equity	$ 594,443,435	$ 433,506,850

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Available-for-sale fixed maturity securities at cost	$ 180,701,752	$ 134,414,517
Available-for-sale equity securities at cost	99,945	99,945
Equity securities, cost	$ 184,084	$ 187,122
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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Premiums	$ 5,546,081	$ 4,572,872	$ 11,076,887	$ 9,059,607
Net investment income	6,283,043	5,038,141	11,856,499	9,722,383
Net realized investment gains (losses)	(67,632)	49,256	(13,912)	24,472
Service fees	593,144	230,161	1,020,878	233,561
Other income	23,755	28,345	62,739	46,172
Total revenues	12,378,391	9,918,775	24,003,091	19,086,195
Benefits, Claims and Expenses
Increase in future policy benefits	2,029,177	1,526,060	4,180,777	2,965,651
Death benefits	1,474,125	1,525,130	3,106,905	3,087,186
Surrenders	246,074	235,172	596,481	462,841
Interest credited to policyholders	3,011,733	2,304,102	5,562,405	4,611,433
Dividend, endowment and supplementary life contract benefits	75,121	65,010	143,790	132,695
Total benefits and claims	6,836,230	5,655,474	13,590,358	11,259,806
Policy acquisition costs deferred	(3,657,057)	(2,180,425)	(7,272,517)	(4,488,458)
Amortization of deferred policy acquisition costs	1,077,534	1,172,075	1,841,880	1,995,623
Amortization of value of insurance business acquired	73,544	81,878	154,991	171,489
Commissions	3,723,265	1,926,536	7,295,837	4,029,658
Other underwriting, insurance and acquisition expenses	2,857,284	1,488,635	5,122,859	3,132,028
Total expenses	4,074,570	2,488,699	7,143,050	4,840,340
Total benefits, claims and expenses	10,910,800	8,144,173	20,733,408	16,100,146
Income before total federal income tax expense	1,467,591	1,774,602	3,269,683	2,986,049
Current federal income tax expense	398,052		701,054
Deferred federal income tax expense (benefit)	(64,027)	375,225	12,867	646,291
Total federal income tax expense	334,025	375,225	713,921	646,291
Net income	$ 1,133,566	$ 1,399,377	$ 2,555,762	$ 2,339,758
Net income per common share basic and diluted (in dollars per share)	$ 0.15	$ 0.18	$ 0.33	$ 0.30

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net income		$ 1,133,566	$ 1,399,377	$ 2,555,762	$ 2,339,758
Other Comprehensive Income (loss)
Total net unrealized investment gains (losses) arising during the period		6,494,324	(2,433,022)	11,621,574	(6,813,812)
Cumulative effect, adoption of accounting guidance for equity securities					(68,508)
Less net realized investment gains (losses) having no credit losses	[1]	(30,913)	40,647	9,162	39,477
Net unrealized investment gains (losses)		6,525,237	(2,473,669)	11,612,412	(6,921,797)
Less adjustment to deferred acquisition costs		10,599	(42,316)	23,096	(118,006)
Other comprehensive income (loss) before federal income tax expense		6,514,638	(2,431,353)	11,589,316	(6,803,791)
Federal income tax expense (benefit)		1,368,073	(510,583)	2,433,757	(1,428,795)
Total other comprehensive income (loss)		5,146,565	(1,920,770)	9,155,559	(5,374,996)
Total comprehensive income (loss)		$ 6,280,131	$ (521,393)	$ 11,711,321	$ (3,035,238)
[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, 2017	$ 80,502	$ 28,684,598	$ (893,947)	$ 4,760,951	$ 8,620,075	$ 41,252,179
Net income					2,339,758	2,339,758
Other comprehensive income (loss)				(5,374,996)		(5,374,996)
Balance at Jun. 30, 2018	80,502	28,684,598	(893,947)	(614,045)	11,028,341	38,285,449
Balance at Mar. 31, 2018	80,502	28,684,598	(893,947)	1,306,725	9,628,964	38,806,842
Net income					1,399,377	1,399,377
Other comprehensive income (loss)				(1,920,770)		(1,920,770)
Balance at Jun. 30, 2018	80,502	28,684,598	(893,947)	(614,045)	11,028,341	38,285,449
Cumulative effect, adoption of accounting guidance for equity securities					68,508	68,508
Balance at Dec. 31, 2018	80,502	28,684,598	(893,947)	(2,576,631)	13,830,729	39,125,251
Net income					2,555,762	2,555,762
Other comprehensive income (loss)				9,155,559		9,155,559
Balance at Jun. 30, 2019	80,502	28,684,598	(893,947)	6,578,928	16,386,491	50,836,572
Balance at Mar. 31, 2019	80,502	28,684,598	(893,947)	1,432,363	15,252,925	44,556,441
Net income					1,133,566	1,133,566
Other comprehensive income (loss)				5,146,565		5,146,565
Balance at Jun. 30, 2019	$ 80,502	$ 28,684,598	$ (893,947)	$ 6,578,928	$ 16,386,491	$ 50,836,572

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net income	$ 2,555,762	$ 2,339,758
Adjustments to reconcile net income to net cash used in operating activities:
Provision for depreciation	72,744	72,744
Accretion of discount on investments	(2,255,182)	(1,877,352)
Net realized investment gains (losses)	13,912	(24,472)
Amortization of policy acquisition cost	1,841,880	1,995,623
Policy acquisition costs deferred	(7,272,517)	(4,488,458)
Amortization of loan origination fees	14,975	20,955
Amortization of value of insurance business acquired	154,991	171,489
Allowance for mortgage loan losses	85,935	67,481
Provision for deferred federal income tax expense	12,867	646,291
Interest credited to policyholders	5,562,405	4,611,433
Change in assets and liabilities:
Policy loans	(81,011)	(23,569)
Short-term investments	(918,406)	(137,929)
Accrued investment income	(2,418,865)	(162,738)
Recoverable from reinsurers	1,101,384	(318,998)
Assets held in trust under coinsurance agreement	(67,483,048)	(7,464,922)
Agents' balances and due premiums	(268,807)	(14,985)
Other assets (excludes change in receivable for securities sold of $33,600 and $674,416 in 2019 and 2018, respectively)	1,128,955	62,629
Future policy benefits	4,138,206	2,938,075
Policy claims	100,581	38,561
Other policy liabilities	3,112	(2,045)
Other liabilities (excludes change in payable for securities purchased of ($391,171) and ($99,611) in 2019 and 2018, respectively)	873,460	(66,640)
Net cash used in operating activities	(63,036,667)	(1,617,069)
Investing activities
Purchases of fixed maturity securities	(64,687,943)	(10,665,969)
Maturities of fixed maturity securities	3,450,000	4,500,000
Sales of fixed maturity securities	14,677,913	3,988,932
Purchases of equity securities	(57,746)	(25,876)
Sales of equity securities	19,370	15,412
Joint venture distribution	53,786
Purchases of mortgage loans	(44,710,559)	(34,435,782)
Payments on mortgage loans	18,955,492	16,655,627
Purchases of other long-term investments	(8,750,363)	(5,877,273)
Payments on other long-term investments	5,579,448	4,769,093
Sale of real estate	253,564	54,853
Net change in receivable and payable for securities sold and purchased	(357,571)	(574,805)
Net cash used in investing activities	(75,574,609)	(21,595,788)
Financing activities
Policyholders' account deposits	153,716,133	21,557,499
Policyholders' account withdrawals	(17,224,086)	(13,254,810)
Net cash provided by financing activities	136,492,047	8,302,689
Decrease in cash and cash equivalents	(2,119,229)	(14,910,168)
Cash and cash equivalents, beginning of period	29,665,605	31,496,159
Cash and cash equivalents, end of period	$ 27,546,376	$ 16,585,991

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Change in receivable for securities sold	$ 33,600	$ 674,416
Change in payable of securities purchased	$ (391,171)	$ (99,611)

Supplemental Disclosure - Cash

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	During 2019 2018 $99,218 $378,411, In conjunction with these foreclosures, the non-cash impact on investing activities is summarized as follows: Six Months Ended June 30, 2019 2018 Reductions in mortgage loans due to foreclosure $ 99,218 $ 378,411 Investment real estate held-for-sale acquired through foreclosure (99,218 ) (378,411 ) Net cash provided (used) in investing activities $ - $ - See notes to consolidated financial statements (unaudited).

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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 from two private placement stock offerings during 2004 and $25,669,480 from two public stock offerings and one private placement stock offering from June 22, 2005 through February 23, 2007; June 29, 2010 through April 30, 2012 and August 15, 2012 through March 8, 2013. The Company issued 7,347,488 shares of its common stock and incurred $3,624,518 of offering costs during these private placements and public stock offerings. The Company also issued 702,685 shares of its common stock in connection with two stock dividends paid to shareholders in 2011 and 2012 that resulted in accumulated earnings being charged $5,270,138 with an offsetting credit of $5,270,138 to common stock and additional paid-in capital. The Company has also purchased 247,580 shares of treasury stock at a cost of $893,947 from former members of the Board of Directors including the former Chairman of the Board of Directors, a former agent, the former spouse of the Company’s Chairman, Chief Executive Officer and President and a charitable organization where a former member of the Board of Directors had donated shares of the Company’s common stock. Acquisition s On December 23, 2008, FTFC acquired 100% of the outstanding common stock of First Life America Corporation (“FLAC”) from an unaffiliated company. The acquisition of FLAC was accounted for as a purchase. The aggregate purchase price for FLAC was $2,695,234 including direct cost associated with the acquisition of $195,234. The acquisition of FLAC was financed with the working capital of FTFC. On December 31, 2008, FTFC made FLAC a 15 year loan in the form of a surplus note in the amount of $250,000 with an interest rate of 6% payable monthly, that was approved by the Oklahoma Insurance Department (“OID”). This surplus note is eliminated in consolidation. On August 31, 2009, two of the Company’s subsidiaries, Trinity Life Insurance Company (“Old TLIC”) and FLAC, were merged, with FLAC being the surviving company. Immediately following the merger, FLAC changed its name to TLIC. On December 28, 2011, TLIC acquired 100% of the outstanding common stock of FBLIC from FBLIC’s shareholders. The acquisition of FBLIC was accounted for as a purchase. The aggregate purchase price for the acquisition of FBLIC was $13,855,129. The acquisition of FBLIC was financed with the working capital of TLIC. On April 28, 2015, the Company acquired a block of life insurance policies and annuity contracts according to the terms of an assumption reinsurance agreement. The Company acquired assets of $3,644,839 (including cash), assumed liabilities of $3,055,916 and recorded a gain on reinsurance assumption of $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 -Q and Article 10 of Regulation S- X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting primarily of normal recurring accruals) considered necessary for a fair presentation of the results for the interim periods have been included. The results of operations for the six months ended June 30, 2019 are not necessarily indicative of the results to be expected for the year ended December 31, 2019 or for any other interim period or for any other future year. Certain financial information which is normally included in notes to consolidated financial statements prepared in accordance with U.S. GAAP, but which is not required for interim reporting purposes, has been condensed or omitted. The accompanying consolidated financial statements and notes thereto should be read in conjunction with the financial statements and notes thereto included in the Company's report on Form 10 -K for the year ended December 31, 2018. Principles of Consolidation The consolidated financial statements include the accounts and operations of the Company and its subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. Reclassifications Certain reclassifications have been made in the prior year and prior quarter financial statements to conform to current year and current quarter classifications. These reclassifications had no effect on previously reported net income or shareholders' equity. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Common Stock Common stock is fully paid, non-assessable and has a par value of $.01 per share. Treasury Stock Treasury stock, representing shares of the Company’s common stock that have been reacquired after having been issued and fully paid, is recorded at the reacquisition cost and the shares are no longer outstanding. Subsequent Events Management has evaluated all events subsequent to June 30, 2019 through the date that these financial statements have been issued. Recent Accounting Pronouncements Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued updated guidance (Accounting Standards Update 2018 - 11 ) to require lessees to recognize a right-of-use asset and a lease liability for leases with terms of more than 12 months. The updated guidance retains the two classifications of a lease as either an operating or finance lease (previously referred to as a capital lease). Both lease classifications require the lessee to record the right-of-use asset and the lease liability based upon the present value of cash flows. Finance leases will reflect the financial arrangement by recognizing interest expense on the lease liability separately from the amortization expense of the right-of-use asset. Operating leases will recognize lease expense (with no separate recognition of interest expense) on a straight-line basis over the term of the lease. The accounting by lessors is not significantly changed by the updated guidance. The updated guidance requires expanded qualitative and quantitative disclosures, including additional information about the amounts recorded in the financial statements. In July 2018, the FASB amended the updated guidance on leases that was issued in February 2016 ( Accounting Standards Update 2018 - 11 ) and provided an additional transition method with which to adopt the updated guidance. Under the additional transition method, entities may elect to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the year of adoption. Consequently, if this transition method is elected, an entity’s reporting for the comparative periods prior to adoption presented in the financial statements would continue to be in accordance with current lease guidance. The amendments also provide lessors with a practical expedient to combine non-lease components (e.g., a fee for common area maintenance when leasing office space) with the associated lease component rather than accounting for those components separately if certain criteria are met. The updated guidance requires entities to recognize a right-of-use asset and lease liability equal to the present value of lease payments for all leases other than those that are less than one year. The updated guidance, as amended, is effective for reporting periods beginning after December 15, 2018. In December 2018, the FASB issued additional guidance (Accounting Standards Update 2018 - 20 ) that permits an accounting policy election for lessors to not evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. A lessor making this election will exclude from the consideration in the contract and from variable payments not included in the consideration of the contract all collections from lessees of certain sales taxes and other similar taxes and to provide certain disclosures. The Company adopted this guidance in first quarter 2019. The adoption of this guidance in 2019 did not have a material effect on the Company’s results of operations, financial position or liquidity. Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued updated guidance (Accounting Standards Update 2016 - 13 ) for the accounting for credit losses for financial instruments. The updated guidance applies a new credit loss model (current expected credit losses or CECL) for determining credit-related impairments for financial instruments measured at amortized cost (e.g. reinsurance recoverables, including structured settlements that are recorded as part of reinsurance recoverables) and requires an entity to estimate the credit losses expected over the life of an exposure or pool of exposures. The estimate of expected credit losses should consider historical information, current information, as well as reasonable and supportable forecasts, including estimates of prepayments. The expected credit losses, and subsequent adjustments to such losses, will be recorded through an allowance account that is deducted from the amortized cost basis of the financial asset, with the net carrying value of the financial asset presented on the consolidated balance sheet at the amount expected to be collected. The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The updated guidance is effective for reporting periods beginning after December 15, 2019. Early adoption is permitted for reporting periods beginning after December 15, 2018. Based on the financial instruments currently held by the Company, there would not be a material effect on the Company’s results of operations, financial position or liquidity if the new guidance were able to be adopted in the current accounting period. The impact on the Company’s results of operations, financial position or liquidity at the date of adoption of the updated guidance will be determined by the financial instruments held by the Company and the economic conditions at that time. Intangibles - Goodwill and Other In January 2017, the FASB issued updated guidance (Accounting Standards Update 2017 - 04 ) that eliminates the requirement to calculate the implied fair value of goodwill (i.e., Step 2 of the current goodwill impairment test) to measure a goodwill impairment charge. Instead, entities will record an impairment charge by comparing a reporting unit’s fair value with its carrying amount and recognizing an impairment charge for the excess of the carrying amount over estimated fair value (i.e., Step 1 of current guidance). The implied fair value of goodwill is currently determined in Step 2 by deducting the fair value of all assets and liabilities of the reporting unit (determined in the same manner as a business combination) from the reporting unit’s fair value as determined in Step 1 (including any corporate-level assets or liabilities that were included in the determination of the carrying amount and fair value of the reporting unit in Step 1 ). The updated guidance requires an entity to perform its annual, or interim, impairment test by either: ( 1 ) an initial qualitative assessment of factors (such as changes in management, key personnel, strategy, key technology or customers) that may impact a reporting unit’s fair value and lead to the determination that it is more likely than not that the reporting unit’s fair value is less than its carrying value, including goodwill (consistent with current guidance), or ( 2 ) applying Step 1. The updated guidance is effective for reporting periods beginning after December 15, 2019 and is to be applied prospectively. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this guidance is not expected to have a material effect on the Company’s results of operations, financial position or liquidity. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued updated guidance (Accounting Standards Update 2018 - 12 ) to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. This update improves the timeliness of recognizing changes in the liability for future policy benefits, modifies the rate used to discount future cash flows, simplifies and improves accounting for certain market-based options or guarantees associated with deposit (i.e., account balance) contracts, simplifies the amortization of deferred acquisitions costs and expands required disclosures. The expanded disclosure requires an insurance entity to provide disaggregated roll forwards of beginning to ending balances of the following: liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities and deferred acquisition costs including disclosure about, changes to and effect of changes for significant inputs, judgments, assumptions and methods used in measurements. The updated guidance is effective for reporting periods beginning after December 15, 2020. Early adoption is permitted. With respect to the liability for future policyholder benefits for traditional and limited-payment contracts and deferred acquisition costs, an insurance entity may elect to apply the amendments retrospectively as of the beginning of the earliest period presented. With respect to the market risk benefits, an insurance entity should apply the amendments retrospectively as of the beginning of the earliest period presented. The Company expects that the impact on the Company’s results of operations, financial position and liquidity at the date of adoption of the updated guidance in 2021 will be determined by the long-duration contracts then held by the Company and the economic conditions at that time. Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued amendments (Accounting Standards Update 2018 - 13 ) to modify the disclosure requirements related to fair value measurements including the consideration of costs and benefits of producing the modified disclosures. The updated guidance is effective for reporting periods beginning after December 15, 2019. Early adoption is permitted and an entity is permitted to early adopt any removed or modified disclosures upon issuance and delay adoption of the additional disclosures until their effective date. The adoption of this guidance in 2020 is not expected to have a material effect on the Company's results of operations, financial position or liquidity.

Note 2 - Investments

Note 2 - Investments	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 December 31, 2018 Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value June 30, 2019 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 1,802,981 $ 1,168 $ 23,525 $ 1,780,624 States and political subdivisions 9,926,526 565,535 2,932 10,489,129 Residential mortgage-backed securities 20,394 25,314 - 45,708 Corporate bonds 133,067,979 6,739,108 270,469 139,536,618 Asset-backed 2,209,421 59,384 - 2,268,805 Foreign bonds 33,674,451 1,549,114 302,503 34,921,062 Total fixed maturity securities 180,701,752 8,939,623 599,429 189,041,946 Preferred stock 99,945 955 420 100,480 Equity securities Mutual funds 91,982 - 8,937 83,045 Corporate common stock 92,102 26,257 - 118,359 Total equity securities 184,084 26,257 8,937 201,404 Total fixed maturity, preferred stock and equity securities $ 180,985,781 $ 8,966,835 $ 608,786 $ 189,343,830 December 31, 2018 Fixed maturity securities U.S. government and U.S. government agencies $ 2,793,681 $ 2,769 $ 91,739 $ 2,704,711 States and political subdivisions 9,295,973 215,000 32,941 9,478,032 Residential mortgage-backed securities 23,694 27,461 - 51,155 Corporate bonds 100,360,468 823,991 3,220,268 97,964,191 Asset-backed 253,598 7,820 - 261,418 Foreign bonds 21,687,103 75,525 1,069,936 20,692,692 Total fixed maturity securities 134,414,517 1,152,566 4,414,884 131,152,199 Preferred stock 99,945 - 9,365 90,580 Equity securities Mutual funds 91,981 - 17,082 74,899 Corporate common stock 95,141 28,628 - 123,769 Total equity securities 187,122 28,628 17,082 198,668 Total fixed maturity, preferred stock and equity securities $ 134,701,584 $ 1,181,194 $ 4,441,331 $ 131,441,447 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 June 30, 2019 December 31, 2018 Unrealized Number of Fair Value Loss Securities June 30, 2019 (Unaudited) Fixed maturity securities Less than 12 months in an unrealized loss position Corporate bonds $ 3,187,478 $ 90,186 10 Foreign bonds 631,101 4,612 2 Total less than 12 months in an unrealized loss position 3,818,579 94,798 12 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 1,531,336 23,525 5 States and political subdivisions 102,593 2,932 1 Corporate bonds 3,592,035 180,283 16 Foreign bonds 4,349,645 297,891 14 Total more than 12 months in an unrealized loss position 9,575,609 504,631 36 Total fixed maturity securities in an unrealized loss position 13,394,188 599,429 48 Preferred stock, less than 12 months in an unrealized loss position 49,580 420 1 Equity securities (mutual funds), less than 12 months in an unrealized loss position 83,044 8,937 1 Total fixed maturity, preferred stock and equity securities in an unrealized loss position $ 13,526,812 $ 608,786 $ 50 December 31, 2018 Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 991,660 $ 2,419 1 States and political subdivisions 1,066,743 7,948 6 Corporate bonds 58,506,980 2,154,898 215 Foreign bonds 14,554,291 852,120 50 Total less than 12 months in an unrealized loss position 75,119,674 3,017,385 272 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 1,590,655 89,320 6 States and political subdivisions 518,969 24,993 4 Corporate bonds 7,107,831 1,065,370 30 Foreign bonds 1,376,680 217,816 5 Total more than 12 months in an unrealized loss position 10,594,135 1,397,499 45 Total fixed maturity securities in an unrealized loss position 85,713,809 4,414,884 317 Preferred stock, less than 12 months in an unrealized loss position 90,580 9,365 2 Equity securities (mutual funds), less than 12 months in an unrealized loss position 74,899 17,082 1 Total fixed maturity, preferred stock and equity securities in an unrealized loss position $ 85,879,288 $ 4,441,331 $ 320 As of June 30, 2019, 48 $599,429, $13,394,188 $13,993,617. June 30, 2019. 48 96%. As of December 31, 2018, 317 $4,414,884, $85,713,809 $90,128,693. December 31, 2018. 317 95%. As of June 30, 2019, one $8,937, $83,044 $91,981. 90%. As of December 31, 2018, one $17,082, $74,899 $91,981. 81%. As of June 30, 2019, one $420, $49,580 $50,000. 99%. As of December 31, 2018, two $9,365, $90,580 $99,945. two 91%. Fixed maturity securities were 97% 96% June 30, 2019 December 31, 2018, 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 six June 30, 2019 2018. Management believes that the Company will fully recover its cost basis in the securities held as of June 30, 2019, not not Net unrealized gains (losses) included in other comprehensive income (loss) for investments classified as available-for-sale, net of the effect of deferred income taxes and deferred acquisition costs assuming that the appreciation (depreciation) had been realized as of June 30, 2019 December 31, 2018, (Unaudited) June 30, 2019 December 31, 2018 Unrealized appreciation (depreciation) on available-for-sale securities $ 8,340,729 $ (3,271,683 ) Adjustment to deferred acquisition costs (12,972 ) 10,124 Deferred income taxes (1,748,829 ) 684,928 Net unrealized appreciation (depreciation) on available-for-sale securities $ 6,578,928 $ (2,576,631 ) The Company’s investment in lottery prize cash flows categorized as other long-term investments in the statement of financial position was $64,744,938 $59,255,477 June 30, 2019 December 31, 2018, The amortized cost and fair value of fixed maturity available-for-sale securities and other long-term investments as of June 30, 2019, June 30, 2019 (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 $ 2,546,048 $ 2,568,063 $ 9,176,021 $ 9,342,976 Due after one year through five years 27,494,110 28,339,997 28,834,511 32,063,303 Due after five years through ten years 63,556,447 66,174,339 18,458,398 23,800,321 Due after ten years 87,084,753 91,913,839 8,276,008 14,123,844 Due at multiple maturity dates 20,394 45,708 - - $ 180,701,752 $ 189,041,946 $ 64,744,938 $ 79,330,444 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 and investment real estate for the three six June 30, 2019 2018 Three Months Ended June 30, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate 2019 2018 2019 2018 2019 2018 Proceeds $ 14,728,067 $ 5,909,141 $ 19,370 $ 15,000 $ 253,564 $ 54,853 Gross realized gains 227,024 74,419 12,372 1 5,158 - Gross realized losses (257,937 ) (33,772 ) - - (46,378 ) (1,322 ) Six Months Ended June 30, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate 2019 2018 2019 2018 2019 2018 Proceeds $ 18,127,913 $ 8,488,932 $ 19,370 $ 15,412 $ 253,564 $ 54,853 Gross realized gains 271,579 80,520 12,372 107 5,158 - Gross realized losses (262,417 ) (41,043 ) - - (46,378 ) (1,322 ) The accumulated change in unrealized investment gains (losses) for fixed maturity and preferred stock available-for-sale for the three six June 30, 2019 2018 three six June 30, 2019 2018 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2019 2018 2019 2018 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ 6,525,157 $ (2,475,749 ) $ 11,602,512 $ (6,851,589 ) Preferred stock 80 2,080 9,900 (1,700 ) Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities (30,913 ) 40,647 9,162 39,477 Equity securities, sale of securities 12,372 1 12,372 107 Equity securities, changes in fair value (7,871 ) 9,930 5,774 (13,790 ) Investment real estate (41,220 ) (1,322 ) (41,220 ) (1,322 ) Major categories of net investment income for the three six June 30, 2019 2018 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2019 2018 2019 2018 Fixed maturity securities $ 2,077,206 $ 1,669,950 $ 3,606,682 $ 3,300,424 Preferred stock and equity securities 33,528 28,034 67,746 33,117 Other long-term investments 1,166,240 1,009,007 2,316,997 1,979,063 Mortgage loans 3,410,617 2,887,505 6,593,465 5,375,918 Policy loans 33,495 30,342 65,768 59,425 Real estate 67,514 94,003 131,810 188,006 Short-term and other investments 250,455 25,939 495,295 67,681 Gross investment income 7,039,055 5,744,780 13,277,763 11,003,634 Investment expenses (756,012 ) (706,639 ) (1,421,264 ) (1,281,251 ) Net investment income $ 6,283,043 $ 5,038,141 $ 11,856,499 $ 9,722,383 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 June 30, 2019 December 31, 2018, $4,389,300 $4,376,463, June 30, 2019 December 31, 2018, $4,403,962 $4,292,657, The Company’s mortgage loans by property type as of June 30, 2019 December 31, 2018 (Unaudited) June 30, 2019 December 31, 2018 Residential mortgage loans $ 145,387,331 $ 120,108,297 Commercial mortgage loans by property type Apartment 1,607,405 1,816,870 Industrial 1,139,226 1,156,157 Lodging 111,812 112,494 Office building 3,684,442 2,348,639 Retail 3,892,926 4,507,153 Total commercial mortgage loans by property type 10,435,811 9,941,313 Total mortgage loans $ 155,823,142 $ 130,049,610 There were 18 $3,647,871 90 June 30, 2019. 11 $2,233,575 90 December 31, 2018. There were no June 30, 2019 December 31, 2018. The Company’s investment real estate as of June 30, 2019 December 31, 2018 (Unaudited) June 30, 2019 December 31, 2018 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 (1,413,415 ) (1,340,671 ) Buildings net of accumulated depreciation 854,142 926,886 Residential real estate - held for sale 311,264 506,830 Total residential real estate 311,264 506,830 Investment real estate, net of accumulated depreciation $ 2,123,721 $ 2,392,031 TLIC owns approximately six one 20,000 one fourth one four three one During 2019, one $99,218 2019, $294,784. $41,220 $253,564. During 2018 $378,411 2018, $56,175. $1,322 $54,853.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 December 31, 2018 Level 1 Level 2 Level 3 Total June 30, 2019 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 1,780,624 $ - $ 1,780,624 States and political subdivisions - 10,489,129 - 10,489,129 Residential mortgage-backed securities - 45,708 - 45,708 Corporate bonds - 139,536,618 - 139,536,618 Asset-backed - 2,268,805 - 2,268,805 Foreign bonds - 34,921,062 - 34,921,062 Total fixed maturity securities $ - $ 189,041,946 $ - $ 189,041,946 Preferred stock, available-for-sale $ 100,480 $ - $ - $ 100,480 Equity securities Mutual funds $ - $ 83,045 $ - $ 83,045 Corporate common stock 50,363 - 67,996 118,359 Total equity securities $ 50,363 $ 83,045 $ 67,996 $ 201,404 December 31, 2018 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,704,711 $ - $ 2,704,711 States and political subdivisions - 9,478,032 - 9,478,032 Residential mortgage-backed securities - 51,155 - 51,155 Corporate bonds - 97,964,191 - 97,964,191 Asset-backed - 261,418 - 261,418 Foreign bonds - 20,692,692 - 20,692,692 Total fixed maturity securities $ - $ 131,152,199 $ - $ 131,152,199 Preferred stock, available-for-sale $ 90,580 $ - $ - $ 90,580 Equity securities Mutual funds $ - $ 74,899 $ - $ 74,899 Corporate common stock 59,733 - 64,036 123,769 Total equity securities $ 59,733 $ 74,899 $ 64,036 $ 198,668 As of June 30, 2019 December 31, 2018, 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. The joint venture investment with a mortgage loan originator is accounted for under the equity method of accounting. 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 change in the fair value of the Company’s Level 3 six June 30, 2019 2018 Unaudited Six Months Ended June 30, 2019 2018 Beginning balance $ 64,036 $ 61,500 Joint venture net income 57,746 23,627 Joint venture distribution (53,786 ) - Equity security sale - (15,000 ) Ending balance $ 67,996 $ 70,127 The carrying amount and fair value of the Company’s financial assets and financial liabilities disclosed, but not June 30, 2019 December 31, 2018, Financial instruments disclosed, but not Carrying Fair Amount Value Level 1 Level 2 Level 3 June 30, 2019 (Unaudited) Financial assets Mortgage loans on real estate Commercial and Industrial $ 10,435,811 $ 11,245,412 $ - $ - $ 11,245,412 Residential 145,387,331 145,795,555 - - 145,795,555 Policy loans 1,890,350 1,890,350 - - 1,890,350 Short-term investments 1,814,777 1,814,777 1,814,777 - - Other long-term investments 64,744,938 79,330,444 - - 79,330,444 Cash and cash equivalents 27,546,376 27,546,376 27,546,376 - - Accrued investment income 5,091,843 5,091,843 - - 5,091,843 Total financial assets $ 256,911,426 $ 272,714,757 $ 29,361,153 $ - $ 243,353,604 Financial liabilities Policyholders' account balances $ 368,644,462 $ 360,652,246 $ - $ - $ 360,652,246 Policy claims 1,202,838 1,202,838 - - 1,202,838 Total financial liabilities $ 369,847,300 $ 361,855,084 $ - $ - $ 361,855,084 December 31, 2018 Financial assets Mortgage loans on real estate Commercial $ 9,941,313 $ 9,698,226 $ - $ - $ 9,698,226 Residential 120,108,297 115,788,967 - - 115,788,967 Policy loans 1,809,339 1,809,339 - - 1,809,339 Short-term investments 896,371 896,371 896,371 - - Other long-term investments 59,255,477 69,641,358 - - 69,641,358 Cash and cash equivalents 29,665,605 29,665,605 29,665,605 - - Accrued investment income 2,672,978 2,672,978 - - 2,672,978 Total financial assets $ 224,349,380 $ 230,172,844 $ 30,561,976 $ - $ 199,610,868 Financial liabilities Policyholders' account balances $ 297,168,411 $ 259,247,412 $ - $ - $ 259,247,412 Policy claims 1,102,257 1,102,257 - - 1,102,257 Total financial liabilities $ 298,270,668 $ 260,349,669 $ - $ - $ 260,349,669 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: Fixed Maturity Securities , Preferred Stock and Equity Securities The fair value of fixed maturity securities and equity securities are based on the principles previously discussed as Level 1, 2 3. Mortgage Loans on Real Estate The fair values for mortgage loans are estimated using discounted cash flow analyses. For residential mortgage loans, the discount rate used was indexed to the LIBOR yield curve adjusted for an appropriate credit spread. For commercial (includes apartment, industrial, lodging, office building and retail) mortgage loans, the discount rate used was assumed to be the interest rate on the last commercial mortgage acquired by the Company. Cash and Cash Equivalents, 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 FTSE 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	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 December 31, 2018 three six June 30, 2019 2018 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2019 2018 2019 2018 Revenues: Life insurance operations $ 6,492,824 $ 5,362,692 $ 12,963,871 $ 10,538,864 Annuity operations 5,710,825 4,423,642 10,680,857 8,301,779 Corporate operations 174,742 132,441 358,363 245,552 Total $ 12,378,391 $ 9,918,775 $ 24,003,091 $ 19,086,195 Income before income taxes: Life insurance operations $ 66,906 $ 128,003 $ 264,465 $ 299,522 Annuity operations 1,246,058 1,533,032 2,748,670 2,490,421 Corporate operations 154,627 113,567 256,548 196,106 Total $ 1,467,591 $ 1,774,602 $ 3,269,683 $ 2,986,049 Depreciation and amortization expense: Life insurance operations $ 701,973 $ 1,522,057 $ 1,532,434 $ 2,214,447 Annuity operations 492,992 (224,142 ) 552,156 46,364 Total $ 1,194,965 $ 1,297,915 $ 2,084,590 $ 2,260,811 (Unaudited) June 30, 2019 December 31, 2018 Assets: Life insurance operations $ 90,043,878 $ 69,756,013 Annuity operations 406,195,312 332,303,028 Assets held in trust under coinsurance agreement 92,977,748 25,494,700 Corporate operations 5,226,497 5,953,109 Total $ 594,443,435 $ 433,506,850

Note 5 - Federal Income Taxes

Note 5 - Federal Income Taxes	6 Months Ended
	Jun. 30, 2019
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. The Company has no not not 2015 2018

Note 6 - Legal Matters and Cont

Note 6 - Legal Matters and Contingent Liabilities	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 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 not On November 22, 2013, two not November 27, 2017 December 1, 2017 2018, June 11, 2018 $1.85 95 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 - Line of Credit

Note 7 - Line of Credit	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	7. On November 8, 2018, $1.5 November 8, 2019. 1% 360 5%. No June 30, 2019 December 31, 2018.

Note 8 - Other Comprehensive In

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	8. her Comprehensive Income (Loss) and Accumulated O ther Comprehensive Income ( L oss) The changes in the components of the Company’s accumulated other comprehensive income (loss) for the three six June 30, 2019 2018 Three Months Ended June 30, 2019 and 2018 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of April 1, 2019 $ 1,434,225 $ (1,862 ) $ 1,432,363 Other comprehensive income before reclassifications, net of tax 5,130,516 (8,372 ) 5,122,144 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax (24,421 ) - (24,421 ) Other comprehensive income 5,154,937 (8,372 ) 5,146,565 Balance as of June 30, 2019 $ 6,589,162 $ (10,234 ) $ 6,578,928 Balance as of April 1, 2018 $ 1,329,041 $ (22,316 ) $ 1,306,725 Other comprehensive loss before reclassifications, net of tax (1,922,089 ) 33,430 (1,888,659 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax 32,111 - 32,111 Other comprehensive loss (1,954,200 ) 33,430 (1,920,770 ) Balance as of June 30, 2018 $ (625,159 ) $ 11,114 $ (614,045 ) Six Months Ended June 30, 2019 and 2018 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of January 1, 2019 $ (2,584,643 ) $ 8,012 $ (2,576,631 ) Other comprehensive income before reclassifications, net of tax 9,181,043 (18,246 ) 9,162,797 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 7,238 - 7,238 Other comprehensive income 9,173,805 (18,246 ) 9,155,559 Balance as of June 30, 2019 $ 6,589,162 $ (10,234 ) $ 6,578,928 Balance as of January 1, 2018 $ 4,843,061 $ (82,110 ) $ 4,760,951 Other comprehensive loss before reclassifications, net of tax (5,437,033 ) 93,224 (5,343,809 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax 31,187 - 31,187 Other comprehensive loss (5,468,220 ) 93,224 (5,374,996 ) Balance as of June 30, 2018 $ (625,159 ) $ 11,114 $ (614,045 ) The pretax components of the Company’s other comprehensive income (loss) and the related income tax expense (benefit) for each component for the three six June 30, 2019 2018 Three Months Ended June 30, 2019 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 6,494,324 $ 1,363,808 $ 5,130,516 Reclassification adjustment for net losses included in operations having no credit losses (30,913 ) (6,492 ) (24,421 ) Net unrealized gains on investments 6,525,237 1,370,300 5,154,937 Adjustment to deferred acquisition costs (10,599 ) (2,227 ) (8,372 ) Total other comprehensive income $ 6,514,638 $ 1,368,073 $ 5,146,565 Three Months Ended June 30, 2018 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (2,433,022 ) $ (510,933 ) $ (1,922,089 ) Reclassification adjustment for net gains included in operations having no credit losses 40,647 8,536 32,111 Net unrealized losses on investments (2,473,669 ) (519,469 ) (1,954,200 ) Adjustment to deferred acquisition costs 42,316 8,886 33,430 Total other comprehensive loss $ (2,431,353 ) $ (510,583 ) $ (1,920,770 ) Six Months Ended June 30, 2019 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 11,621,574 $ 2,440,531 $ 9,181,043 Reclassification adjustment for net gains included in operations having no credit losses 9,162 1,924 7,238 Net unrealized gains on investments 11,612,412 2,438,607 9,173,805 Adjustment to deferred acquisition costs (23,096 ) (4,850 ) (18,246 ) Total other comprehensive income $ 11,589,316 $ 2,433,757 $ 9,155,559 Six Months Ended June 30, 2018 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized loss on available-for-sale securities: Unrealized holding losses arising during the period $ (6,882,320 ) $ (1,445,287 ) $ (5,437,033 ) Reclassification adjustment for net gains included in operations having no credit losses 39,477 8,290 31,187 Net unrealized losses on investments (6,921,797 ) (1,453,577 ) (5,468,220 ) Adjustment to deferred acquisition costs 118,006 24,782 93,224 Total other comprehensive loss $ (6,803,791 ) $ (1,428,795 ) $ (5,374,996 ) 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 (loss) to the Company’s consolidated statement of operations for the three six June 30, 2019 2018 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) Reclassification Adjustments 2019 2018 2019 2018 Unrealized gains (losses) on available-for-sale securities having no credit losses: Realized gains (losses) on sales of securities (a) $ (30,913 ) $ 40,647 $ 9,162 $ 39,477 Income tax expense (benefit) (b) (6,492 ) 8,536 1,924 8,290 Total reclassification adjustments $ (24,421 ) $ 32,111 $ 7,238 $ 31,187 (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 9 - Allowance for Loan Los

Note 9 - Allowance for Loan Losses From Mortgage Loans on Real Estate	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Premiums Receivable Note [Text Block]	9. The allowance for possible loan losses from investments in mortgage loans on real estate 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 mortgage loan portfolio. The allowance, in the judgment of the Company, is necessary to reserve for estimated loan losses inherent in the mortgage loan portfolio and reduces the carrying value of investments in mortgage loans on real estate 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 mortgage loan portfolio, the economy and changes in interest rates. The Company’s allowance for possible mortgage 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 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 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 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 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 June 30, 2019, $1,032,045 third June 30, 2019, $764,458 $4,235,667 June 30, 2019 $267,587 $53,517,364 $510,101 $102,305,778 June 30, 2019. As of December 31, 2018, $823,645 third December 31, 2018, $598,803 $4,942,870 December 31, 2018 $224,842 $44,968,471 $424,166 $85,081,139 December 31, 2018. The balances of and changes in the Company’s credit losses related to mortgage loans on real estate as of and for the three six June 30, 2019 2018 $53,517,364 $38,019,842 June 30, 2019 2018, one third Unaudited Three Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2019 2018 2019 2018 2019 2018 Allowance, beginning $ 405,548 $ 370,771 $ 51,835 $ 13,247 $ 457,383 $ 384,018 Charge offs - - - - - - Recoveries - - - - - - Provision 52,112 1,581 606 24,697 52,718 26,278 Allowance, ending $ 457,660 $ 372,352 $ 52,441 $ 37,944 $ 510,101 $ 410,296 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 457,660 $ 372,352 $ 52,441 $ 37,944 $ 510,101 $ 410,296 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 91,869,967 $ 74,453,213 $ 10,435,811 $ 7,550,861 $ 102,305,778 $ 82,004,074 (Unaudited) Six Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2019 2018 2019 2018 2019 2018 Allowance, beginning $ 374,209 $ 333,789 $ 49,957 $ 9,026 $ 424,166 $ 342,815 Charge offs - - - - - - Recoveries - - - - - - Provision 83,451 38,563 2,484 28,918 85,935 67,481 Allowance, ending $ 457,660 $ 372,352 $ 52,441 $ 37,944 $ 510,101 $ 410,296 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 457,660 $ 372,352 $ 52,441 $ 37,944 $ 510,101 $ 410,296 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 91,869,967 $ 74,453,213 $ 10,435,811 $ 7,550,861 $ 102,305,778 $ 82,004,074 The Company utilizes the ratio of the carrying value of individual 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 June 30, 2019 December 31, 2018 Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Over 70% to 80% $ 40,009,415 $ 23,205,637 $ 277,688 $ 280,020 $ 40,287,103 $ 23,485,657 Over 60% to 70% 50,946,715 43,631,465 2,544,798 2,216,436 53,491,513 45,847,901 Over 50% to 60% 28,768,990 24,890,831 1,457,670 752,181 30,226,660 25,643,012 Over 40% to 50% 12,330,507 16,055,231 1,448,459 1,670,263 13,778,966 17,725,494 Over 30% to 40% 5,701,543 5,984,097 2,342,139 3,341,616 8,043,682 9,325,713 Over 20% to 30% 4,386,532 3,249,410 1,143,160 1,429,085 5,529,692 4,678,495 Over 10% to 20% 2,193,677 2,233,102 226,897 251,712 2,420,574 2,484,814 10% or less 1,049,952 858,524 995,000 - 2,044,952 858,524 Total $ 145,387,331 $ 120,108,297 $ 10,435,811 $ 9,941,313 $ 155,823,142 $ 130,049,610

Note 10 - Coinsurance

Note 10 - Coinsurance	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Reinsurance [Text Block]	10. Coinsurance Effective January 1, 2018, 90% December 31, 2017 In accordance with this annuity coinsurance agreement, TLIC holds assets and recognizes a funds withheld liability for the benefit of the assuming company in an amount at least equal to the annuity reserves in accordance with U.S. statutory accounting principles generated by this ceded business. In addition, the assuming company maintains a trust related to this ceded business amounting to at least an additional 4% may 30

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
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 six June 30, 2019 not December 31, 2019 not 10 December 31, 2018.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts and operations of the Company and its subsidiaries. All intercompany accounts and transactions are eliminated in consolidation.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain reclassifications have been made in the prior year and prior quarter financial statements to conform to current year and current quarter classifications. These reclassifications had no
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 June 30, 2019
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Leases In February 2016, 2018 11 12 two no not In July 2018, February 2016 ( 2018 11 may one December 15, 2018. In December 2018, 2018 20 not not The Company adopted this guidance in first 2019. 2019 not Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13 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 Intangibles - Goodwill and Other In January 2017, 2017 04 2 1 2 1 1 1 may not 2 1. The updated guidance is effective for reporting periods beginning after December 15, 2019 January 1, 2017. not Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, 2018 12 The updated guidance is effective for reporting periods beginning after December 15, 2020. may 2021 Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, 2018 13 December 15, 2019. 2020 not

Supplemental Disclosure - Cas_2

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Six Months Ended June 30, 2019 2018 Reductions in mortgage loans due to foreclosure $ 99,218 $ 378,411 Investment real estate held-for-sale acquired through foreclosure (99,218 ) (378,411 ) Net cash provided (used) in investing activities $ - $ -

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value June 30, 2019 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 1,802,981 $ 1,168 $ 23,525 $ 1,780,624 States and political subdivisions 9,926,526 565,535 2,932 10,489,129 Residential mortgage-backed securities 20,394 25,314 - 45,708 Corporate bonds 133,067,979 6,739,108 270,469 139,536,618 Asset-backed 2,209,421 59,384 - 2,268,805 Foreign bonds 33,674,451 1,549,114 302,503 34,921,062 Total fixed maturity securities 180,701,752 8,939,623 599,429 189,041,946 Preferred stock 99,945 955 420 100,480 Equity securities Mutual funds 91,982 - 8,937 83,045 Corporate common stock 92,102 26,257 - 118,359 Total equity securities 184,084 26,257 8,937 201,404 Total fixed maturity, preferred stock and equity securities $ 180,985,781 $ 8,966,835 $ 608,786 $ 189,343,830 December 31, 2018 Fixed maturity securities U.S. government and U.S. government agencies $ 2,793,681 $ 2,769 $ 91,739 $ 2,704,711 States and political subdivisions 9,295,973 215,000 32,941 9,478,032 Residential mortgage-backed securities 23,694 27,461 - 51,155 Corporate bonds 100,360,468 823,991 3,220,268 97,964,191 Asset-backed 253,598 7,820 - 261,418 Foreign bonds 21,687,103 75,525 1,069,936 20,692,692 Total fixed maturity securities 134,414,517 1,152,566 4,414,884 131,152,199 Preferred stock 99,945 - 9,365 90,580 Equity securities Mutual funds 91,981 - 17,082 74,899 Corporate common stock 95,141 28,628 - 123,769 Total equity securities 187,122 28,628 17,082 198,668 Total fixed maturity, preferred stock and equity securities $ 134,701,584 $ 1,181,194 $ 4,441,331 $ 131,441,447
Schedule of Unrealized Loss on Investments [Table Text Block]	Unrealized Number of Fair Value Loss Securities June 30, 2019 (Unaudited) Fixed maturity securities Less than 12 months in an unrealized loss position Corporate bonds $ 3,187,478 $ 90,186 10 Foreign bonds 631,101 4,612 2 Total less than 12 months in an unrealized loss position 3,818,579 94,798 12 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 1,531,336 23,525 5 States and political subdivisions 102,593 2,932 1 Corporate bonds 3,592,035 180,283 16 Foreign bonds 4,349,645 297,891 14 Total more than 12 months in an unrealized loss position 9,575,609 504,631 36 Total fixed maturity securities in an unrealized loss position 13,394,188 599,429 48 Preferred stock, less than 12 months in an unrealized loss position 49,580 420 1 Equity securities (mutual funds), less than 12 months in an unrealized loss position 83,044 8,937 1 Total fixed maturity, preferred stock and equity securities in an unrealized loss position $ 13,526,812 $ 608,786 $ 50 December 31, 2018 Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 991,660 $ 2,419 1 States and political subdivisions 1,066,743 7,948 6 Corporate bonds 58,506,980 2,154,898 215 Foreign bonds 14,554,291 852,120 50 Total less than 12 months in an unrealized loss position 75,119,674 3,017,385 272 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 1,590,655 89,320 6 States and political subdivisions 518,969 24,993 4 Corporate bonds 7,107,831 1,065,370 30 Foreign bonds 1,376,680 217,816 5 Total more than 12 months in an unrealized loss position 10,594,135 1,397,499 45 Total fixed maturity securities in an unrealized loss position 85,713,809 4,414,884 317 Preferred stock, less than 12 months in an unrealized loss position 90,580 9,365 2 Equity securities (mutual funds), less than 12 months in an unrealized loss position 74,899 17,082 1 Total fixed maturity, preferred stock and equity securities in an unrealized loss position $ 85,879,288 $ 4,441,331 $ 320
Unrealized Gain (Loss) on Investments [Table Text Block]	(Unaudited) June 30, 2019 December 31, 2018 Unrealized appreciation (depreciation) on available-for-sale securities $ 8,340,729 $ (3,271,683 ) Adjustment to deferred acquisition costs (12,972 ) 10,124 Deferred income taxes (1,748,829 ) 684,928 Net unrealized appreciation (depreciation) on available-for-sale securities $ 6,578,928 $ (2,576,631 )
Realized Gain (Loss) on Investments [Table Text Block]	Three Months Ended June 30, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate 2019 2018 2019 2018 2019 2018 Proceeds $ 14,728,067 $ 5,909,141 $ 19,370 $ 15,000 $ 253,564 $ 54,853 Gross realized gains 227,024 74,419 12,372 1 5,158 - Gross realized losses (257,937 ) (33,772 ) - - (46,378 ) (1,322 ) Six Months Ended June 30, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate 2019 2018 2019 2018 2019 2018 Proceeds $ 18,127,913 $ 8,488,932 $ 19,370 $ 15,412 $ 253,564 $ 54,853 Gross realized gains 271,579 80,520 12,372 107 5,158 - Gross realized losses (262,417 ) (41,043 ) - - (46,378 ) (1,322 )
Investment Income [Table Text Block]	Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2019 2018 2019 2018 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ 6,525,157 $ (2,475,749 ) $ 11,602,512 $ (6,851,589 ) Preferred stock 80 2,080 9,900 (1,700 ) Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities (30,913 ) 40,647 9,162 39,477 Equity securities, sale of securities 12,372 1 12,372 107 Equity securities, changes in fair value (7,871 ) 9,930 5,774 (13,790 ) Investment real estate (41,220 ) (1,322 ) (41,220 ) (1,322 ) Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2019 2018 2019 2018 Fixed maturity securities $ 2,077,206 $ 1,669,950 $ 3,606,682 $ 3,300,424 Preferred stock and equity securities 33,528 28,034 67,746 33,117 Other long-term investments 1,166,240 1,009,007 2,316,997 1,979,063 Mortgage loans 3,410,617 2,887,505 6,593,465 5,375,918 Policy loans 33,495 30,342 65,768 59,425 Real estate 67,514 94,003 131,810 188,006 Short-term and other investments 250,455 25,939 495,295 67,681 Gross investment income 7,039,055 5,744,780 13,277,763 11,003,634 Investment expenses (756,012 ) (706,639 ) (1,421,264 ) (1,281,251 ) Net investment income $ 6,283,043 $ 5,038,141 $ 11,856,499 $ 9,722,383
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(Unaudited) June 30, 2019 December 31, 2018 Residential mortgage loans $ 145,387,331 $ 120,108,297 Commercial mortgage loans by property type Apartment 1,607,405 1,816,870 Industrial 1,139,226 1,156,157 Lodging 111,812 112,494 Office building 3,684,442 2,348,639 Retail 3,892,926 4,507,153 Total commercial mortgage loans by property type 10,435,811 9,941,313 Total mortgage loans $ 155,823,142 $ 130,049,610
Schedule of Real Estate Properties [Table Text Block]	(Unaudited) June 30, 2019 December 31, 2018 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 (1,413,415 ) (1,340,671 ) Buildings net of accumulated depreciation 854,142 926,886 Residential real estate - held for sale 311,264 506,830 Total residential real estate 311,264 506,830 Investment real estate, net of accumulated depreciation $ 2,123,721 $ 2,392,031
Available For Sale Fixed Maturity Securities [Member]
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	June 30, 2019 (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 $ 2,546,048 $ 2,568,063 $ 9,176,021 $ 9,342,976 Due after one year through five years 27,494,110 28,339,997 28,834,511 32,063,303 Due after five years through ten years 63,556,447 66,174,339 18,458,398 23,800,321 Due after ten years 87,084,753 91,913,839 8,276,008 14,123,844 Due at multiple maturity dates 20,394 45,708 - - $ 180,701,752 $ 189,041,946 $ 64,744,938 $ 79,330,444

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total June 30, 2019 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 1,780,624 $ - $ 1,780,624 States and political subdivisions - 10,489,129 - 10,489,129 Residential mortgage-backed securities - 45,708 - 45,708 Corporate bonds - 139,536,618 - 139,536,618 Asset-backed - 2,268,805 - 2,268,805 Foreign bonds - 34,921,062 - 34,921,062 Total fixed maturity securities $ - $ 189,041,946 $ - $ 189,041,946 Preferred stock, available-for-sale $ 100,480 $ - $ - $ 100,480 Equity securities Mutual funds $ - $ 83,045 $ - $ 83,045 Corporate common stock 50,363 - 67,996 118,359 Total equity securities $ 50,363 $ 83,045 $ 67,996 $ 201,404 December 31, 2018 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,704,711 $ - $ 2,704,711 States and political subdivisions - 9,478,032 - 9,478,032 Residential mortgage-backed securities - 51,155 - 51,155 Corporate bonds - 97,964,191 - 97,964,191 Asset-backed - 261,418 - 261,418 Foreign bonds - 20,692,692 - 20,692,692 Total fixed maturity securities $ - $ 131,152,199 $ - $ 131,152,199 Preferred stock, available-for-sale $ 90,580 $ - $ - $ 90,580 Equity securities Mutual funds $ - $ 74,899 $ - $ 74,899 Corporate common stock 59,733 - 64,036 123,769 Total equity securities $ 59,733 $ 74,899 $ 64,036 $ 198,668
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Unaudited Six Months Ended June 30, 2019 2018 Beginning balance $ 64,036 $ 61,500 Joint venture net income 57,746 23,627 Joint venture distribution (53,786 ) - Equity security sale - (15,000 ) Ending balance $ 67,996 $ 70,127
Fair Value, by Balance Sheet Grouping [Table Text Block]	Carrying Fair Amount Value Level 1 Level 2 Level 3 June 30, 2019 (Unaudited) Financial assets Mortgage loans on real estate Commercial and Industrial $ 10,435,811 $ 11,245,412 $ - $ - $ 11,245,412 Residential 145,387,331 145,795,555 - - 145,795,555 Policy loans 1,890,350 1,890,350 - - 1,890,350 Short-term investments 1,814,777 1,814,777 1,814,777 - - Other long-term investments 64,744,938 79,330,444 - - 79,330,444 Cash and cash equivalents 27,546,376 27,546,376 27,546,376 - - Accrued investment income 5,091,843 5,091,843 - - 5,091,843 Total financial assets $ 256,911,426 $ 272,714,757 $ 29,361,153 $ - $ 243,353,604 Financial liabilities Policyholders' account balances $ 368,644,462 $ 360,652,246 $ - $ - $ 360,652,246 Policy claims 1,202,838 1,202,838 - - 1,202,838 Total financial liabilities $ 369,847,300 $ 361,855,084 $ - $ - $ 361,855,084 December 31, 2018 Financial assets Mortgage loans on real estate Commercial $ 9,941,313 $ 9,698,226 $ - $ - $ 9,698,226 Residential 120,108,297 115,788,967 - - 115,788,967 Policy loans 1,809,339 1,809,339 - - 1,809,339 Short-term investments 896,371 896,371 896,371 - - Other long-term investments 59,255,477 69,641,358 - - 69,641,358 Cash and cash equivalents 29,665,605 29,665,605 29,665,605 - - Accrued investment income 2,672,978 2,672,978 - - 2,672,978 Total financial assets $ 224,349,380 $ 230,172,844 $ 30,561,976 $ - $ 199,610,868 Financial liabilities Policyholders' account balances $ 297,168,411 $ 259,247,412 $ - $ - $ 259,247,412 Policy claims 1,102,257 1,102,257 - - 1,102,257 Total financial liabilities $ 298,270,668 $ 260,349,669 $ - $ - $ 260,349,669

Note 4 - Segment Data (Tables)

Note 4 - Segment Data (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2019 2018 2019 2018 Revenues: Life insurance operations $ 6,492,824 $ 5,362,692 $ 12,963,871 $ 10,538,864 Annuity operations 5,710,825 4,423,642 10,680,857 8,301,779 Corporate operations 174,742 132,441 358,363 245,552 Total $ 12,378,391 $ 9,918,775 $ 24,003,091 $ 19,086,195 Income before income taxes: Life insurance operations $ 66,906 $ 128,003 $ 264,465 $ 299,522 Annuity operations 1,246,058 1,533,032 2,748,670 2,490,421 Corporate operations 154,627 113,567 256,548 196,106 Total $ 1,467,591 $ 1,774,602 $ 3,269,683 $ 2,986,049 Depreciation and amortization expense: Life insurance operations $ 701,973 $ 1,522,057 $ 1,532,434 $ 2,214,447 Annuity operations 492,992 (224,142 ) 552,156 46,364 Total $ 1,194,965 $ 1,297,915 $ 2,084,590 $ 2,260,811
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	(Unaudited) June 30, 2019 December 31, 2018 Assets: Life insurance operations $ 90,043,878 $ 69,756,013 Annuity operations 406,195,312 332,303,028 Assets held in trust under coinsurance agreement 92,977,748 25,494,700 Corporate operations 5,226,497 5,953,109 Total $ 594,443,435 $ 433,506,850

Note 8 - Other Comprehensive _2

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 30, 2019 and 2018 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of April 1, 2019 $ 1,434,225 $ (1,862 ) $ 1,432,363 Other comprehensive income before reclassifications, net of tax 5,130,516 (8,372 ) 5,122,144 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax (24,421 ) - (24,421 ) Other comprehensive income 5,154,937 (8,372 ) 5,146,565 Balance as of June 30, 2019 $ 6,589,162 $ (10,234 ) $ 6,578,928 Balance as of April 1, 2018 $ 1,329,041 $ (22,316 ) $ 1,306,725 Other comprehensive loss before reclassifications, net of tax (1,922,089 ) 33,430 (1,888,659 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax 32,111 - 32,111 Other comprehensive loss (1,954,200 ) 33,430 (1,920,770 ) Balance as of June 30, 2018 $ (625,159 ) $ 11,114 $ (614,045 ) Six Months Ended June 30, 2019 and 2018 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of January 1, 2019 $ (2,584,643 ) $ 8,012 $ (2,576,631 ) Other comprehensive income before reclassifications, net of tax 9,181,043 (18,246 ) 9,162,797 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 7,238 - 7,238 Other comprehensive income 9,173,805 (18,246 ) 9,155,559 Balance as of June 30, 2019 $ 6,589,162 $ (10,234 ) $ 6,578,928 Balance as of January 1, 2018 $ 4,843,061 $ (82,110 ) $ 4,760,951 Other comprehensive loss before reclassifications, net of tax (5,437,033 ) 93,224 (5,343,809 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax 31,187 - 31,187 Other comprehensive loss (5,468,220 ) 93,224 (5,374,996 ) Balance as of June 30, 2018 $ (625,159 ) $ 11,114 $ (614,045 )
Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 30, 2019 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 6,494,324 $ 1,363,808 $ 5,130,516 Reclassification adjustment for net losses included in operations having no credit losses (30,913 ) (6,492 ) (24,421 ) Net unrealized gains on investments 6,525,237 1,370,300 5,154,937 Adjustment to deferred acquisition costs (10,599 ) (2,227 ) (8,372 ) Total other comprehensive income $ 6,514,638 $ 1,368,073 $ 5,146,565 Three Months Ended June 30, 2018 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (2,433,022 ) $ (510,933 ) $ (1,922,089 ) Reclassification adjustment for net gains included in operations having no credit losses 40,647 8,536 32,111 Net unrealized losses on investments (2,473,669 ) (519,469 ) (1,954,200 ) Adjustment to deferred acquisition costs 42,316 8,886 33,430 Total other comprehensive loss $ (2,431,353 ) $ (510,583 ) $ (1,920,770 ) Six Months Ended June 30, 2019 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 11,621,574 $ 2,440,531 $ 9,181,043 Reclassification adjustment for net gains included in operations having no credit losses 9,162 1,924 7,238 Net unrealized gains on investments 11,612,412 2,438,607 9,173,805 Adjustment to deferred acquisition costs (23,096 ) (4,850 ) (18,246 ) Total other comprehensive income $ 11,589,316 $ 2,433,757 $ 9,155,559 Six Months Ended June 30, 2018 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized loss on available-for-sale securities: Unrealized holding losses arising during the period $ (6,882,320 ) $ (1,445,287 ) $ (5,437,033 ) Reclassification adjustment for net gains included in operations having no credit losses 39,477 8,290 31,187 Net unrealized losses on investments (6,921,797 ) (1,453,577 ) (5,468,220 ) Adjustment to deferred acquisition costs 118,006 24,782 93,224 Total other comprehensive loss $ (6,803,791 ) $ (1,428,795 ) $ (5,374,996 )
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) Reclassification Adjustments 2019 2018 2019 2018 Unrealized gains (losses) on available-for-sale securities having no credit losses: Realized gains (losses) on sales of securities (a) $ (30,913 ) $ 40,647 $ 9,162 $ 39,477 Income tax expense (benefit) (b) (6,492 ) 8,536 1,924 8,290 Total reclassification adjustments $ (24,421 ) $ 32,111 $ 7,238 $ 31,187

Note 9 - Allowance for Loan L_2

Note 9 - Allowance for Loan Losses From Mortgage Loans on Real Estate (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Unaudited Three Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2019 2018 2019 2018 2019 2018 Allowance, beginning $ 405,548 $ 370,771 $ 51,835 $ 13,247 $ 457,383 $ 384,018 Charge offs - - - - - - Recoveries - - - - - - Provision 52,112 1,581 606 24,697 52,718 26,278 Allowance, ending $ 457,660 $ 372,352 $ 52,441 $ 37,944 $ 510,101 $ 410,296 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 457,660 $ 372,352 $ 52,441 $ 37,944 $ 510,101 $ 410,296 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 91,869,967 $ 74,453,213 $ 10,435,811 $ 7,550,861 $ 102,305,778 $ 82,004,074 (Unaudited) Six Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2019 2018 2019 2018 2019 2018 Allowance, beginning $ 374,209 $ 333,789 $ 49,957 $ 9,026 $ 424,166 $ 342,815 Charge offs - - - - - - Recoveries - - - - - - Provision 83,451 38,563 2,484 28,918 85,935 67,481 Allowance, ending $ 457,660 $ 372,352 $ 52,441 $ 37,944 $ 510,101 $ 410,296 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 457,660 $ 372,352 $ 52,441 $ 37,944 $ 510,101 $ 410,296 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 91,869,967 $ 74,453,213 $ 10,435,811 $ 7,550,861 $ 102,305,778 $ 82,004,074
Financing Receivable Credit Quality Indicators [Table Text Block]	Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Over 70% to 80% $ 40,009,415 $ 23,205,637 $ 277,688 $ 280,020 $ 40,287,103 $ 23,485,657 Over 60% to 70% 50,946,715 43,631,465 2,544,798 2,216,436 53,491,513 45,847,901 Over 50% to 60% 28,768,990 24,890,831 1,457,670 752,181 30,226,660 25,643,012 Over 40% to 50% 12,330,507 16,055,231 1,448,459 1,670,263 13,778,966 17,725,494 Over 30% to 40% 5,701,543 5,984,097 2,342,139 3,341,616 8,043,682 9,325,713 Over 20% to 30% 4,386,532 3,249,410 1,143,160 1,429,085 5,529,692 4,678,495 Over 10% to 20% 2,193,677 2,233,102 226,897 251,712 2,420,574 2,484,814 10% or less 1,049,952 858,524 995,000 - 2,044,952 858,524 Total $ 145,387,331 $ 120,108,297 $ 10,435,811 $ 9,941,313 $ 155,823,142 $ 130,049,610

Supplemental Disclosure - Cas_3

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities (Details Textual) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure	$ 99,218	$ 378,411	$ 378,411

Supplemental Disclosure - Cas_4

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities - Supplement Disclosures to Consolidated Statements of Cash Flows (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Reductions in mortgage loans due to foreclosure	$ 99,218	$ 378,411
Investment real estate held-for-sale acquired through foreclosure	(99,218)	(378,411)
Net cash provided (used) in investing activities

Note 1 - Organization and Sig_2

Note 1 - Organization and Significant Accounting Policies (Details Textual)

Apr. 28, 2015USD ($)

Dec. 28, 2011USD ($)

Dec. 31, 2008USD ($)

Dec. 23, 2008USD ($)

Jun. 30, 2019$ / shares

Dec. 31, 2004USD ($)

Dec. 31, 2012USD ($)shares

Dec. 31, 2015USD ($)shares

Mar. 08, 2013USD ($)

Mar. 08, 2013USD ($)shares

Dec. 31, 2018$ / 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

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%

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

Wholly Owned Subsidiary Ownership Percentage

100.00%

First Trinity Capital Corporation [Member]

Wholly Owned Subsidiary Ownership Percentage

100.00%

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

Stock Issued During Period, Shares, New Issues | shares

7,347,488

Payments of Stock Issuance Costs

$ 3,624,518

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)ft²a	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	50		320
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total	$ 608,786		$ 4,441,331
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	13,526,812		85,879,288
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held, Ending Balance	0	$ 0
Deposit Assets, Total	4,389,300		4,376,463
Other Assets, Fair Value Disclosure	$ 4,403,962		$ 4,292,657
Number Of Loans Past Due	18		11
Financing Receivable, 90 Days or More Past Due, Still Accruing	$ 3,647,871		$ 2,233,575
Past Due Loans, Term Past Due	90 days		90 days
Number of Mortgage Loans in Default	0		0
Real Estate Investments, Net, Total	$ 2,123,721		$ 2,392,031
Proceeds from Sale of Real Estate Held-for-investment, Total	253,564	54,853
Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure	99,218	$ 378,411	378,411
Real Estate Investments, Net, Total	294,784		56,175
Gains (Losses) on Sales of Investment Real Estate	41,220		1,322
Proceeds from Sale of Real Estate Held-for-investment, Total	$ 253,564		$ 54,853
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	48		317
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total	$ 599,429		$ 4,414,884
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	13,394,188		85,713,809
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost	$ 13,993,617		$ 90,128,693
Fair Value to Cost Ratio	96.00%		95.00%
Fixed Maturity Securities, Investment Grade Percentage	97.00%		96.00%
Equity Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1		1
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total	$ 8,937		$ 17,082
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	83,044		74,899
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost	$ 91,981		$ 91,981
Fair Value to Cost Ratio	90.00%		81.00%
Preferred Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1		2
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total	$ 420		$ 9,365
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	49,580		90,580
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost	$ 50,000		$ 99,945
Fair Value to Cost Ratio	99.00%		91.00%
Lottery Prize Cash Flows [Member]
Other Investments, Total	$ 64,744,938		$ 59,255,477

Note 2 - Investments - Availabl

Note 2 - Investments - Available-for-sale Fixed Maturity and Equity Securities (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Securities, amortized cost	$ 180,985,781	$ 134,701,584
Securities, gross unrealized gains	8,966,835	1,181,194
Securities, gross unrealized losses	608,786	4,441,331
Available-for-sale securities	189,343,830	131,441,447
Securities, gross unrealized gains	8,966,835	1,181,194
US Treasury and Government [Member]
Securities, amortized cost	1,802,981	2,793,681
Securities, gross unrealized gains	1,168	2,769
Securities, gross unrealized losses	23,525	91,739
Available-for-sale securities	1,780,624	2,704,711
Securities, gross unrealized gains	1,168	2,769
US States and Political Subdivisions Debt Securities [Member]
Securities, amortized cost	9,926,526	9,295,973
Securities, gross unrealized gains	565,535	215,000
Securities, gross unrealized losses	2,932	32,941
Available-for-sale securities	10,489,129	9,478,032
Securities, gross unrealized gains	565,535	215,000
Residential Mortgage Backed Securities [Member]
Securities, amortized cost	20,394	23,694
Securities, gross unrealized gains	25,314	27,461
Securities, gross unrealized losses
Available-for-sale securities	45,708	51,155
Securities, gross unrealized gains	25,314	27,461
Corporate Debt Securities [Member]
Securities, amortized cost	133,067,979	100,360,468
Securities, gross unrealized gains	6,739,108	823,991
Securities, gross unrealized losses	270,469	3,220,268
Available-for-sale securities	139,536,618	97,964,191
Securities, gross unrealized gains	6,739,108	823,991
Asset-backed Securities [Member]
Securities, amortized cost	2,209,421	253,598
Securities, gross unrealized gains	59,384	7,820
Securities, gross unrealized losses
Available-for-sale securities	2,268,805	261,418
Securities, gross unrealized gains	59,384	7,820
Debt Security, Government, Non-US [Member]
Securities, amortized cost	33,674,451	21,687,103
Securities, gross unrealized gains	1,549,114	75,525
Securities, gross unrealized losses	302,503	1,069,936
Available-for-sale securities	34,921,062	20,692,692
Securities, gross unrealized gains	1,549,114	75,525
Debt Securities [Member]
Securities, amortized cost	180,701,752	134,414,517
Securities, gross unrealized gains	8,939,623	1,152,566
Securities, gross unrealized losses	599,429	4,414,884
Available-for-sale securities	189,041,946	131,152,199
Securities, gross unrealized gains	8,939,623	1,152,566
Preferred Stock [Member]
Securities, amortized cost	99,945	99,945
Securities, gross unrealized gains	955
Securities, gross unrealized losses	420	9,365
Available-for-sale securities	100,480	90,580
Securities, gross unrealized gains	955
Mutual Fund [Member]
Securities, amortized cost	91,982	91,981
Securities, gross unrealized gains
Securities, gross unrealized losses	8,937	17,082
Available-for-sale securities	83,045	74,899
Securities, gross unrealized gains
Common Stock [Member]
Securities, amortized cost	92,102	95,141
Securities, gross unrealized gains	26,257	28,628
Securities, gross unrealized losses
Available-for-sale securities	118,359	123,769
Securities, gross unrealized gains	26,257	28,628
Equity Securities [Member]
Securities, amortized cost	184,084	187,122
Securities, gross unrealized gains	26,257	28,628
Securities, gross unrealized losses	8,937	17,082
Available-for-sale securities	201,404	198,668
Securities, gross unrealized gains	$ 26,257	$ 28,628

Note 2 - Investments - Securiti

Note 2 - Investments - Securities in an Unrealized Loss Position (Details)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Available-for-sale securities, continuous unrealized loss position, fair value	$ 13,526,812	$ 85,879,288
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ 608,786	$ 4,441,331
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions	50	320
Corporate Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 3,187,478	$ 58,506,980
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 90,186	$ 2,154,898
Securities in an unrealized loss position, less than twelve months, number	10	215
Securities in an unrealized loss position, more than twelve months, fair value	$ 3,592,035	$ 7,107,831
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 180,283	$ 1,065,370
Securities in an unrealized loss position, more than twelve months, number	16	30
US Government Agencies Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 1,531,336	$ 991,660
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 23,525	$ 2,419
Securities in an unrealized loss position, less than twelve months, number	5	1
Securities in an unrealized loss position, more than twelve months, fair value		$ 1,590,655
Securities in an unrealized loss position, more than twelve months, unrealized loss		$ 89,320
Securities in an unrealized loss position, more than twelve months, number		6
Debt Security, Government, Non-US [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 631,101	$ 14,554,291
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 4,612	$ 852,120
Securities in an unrealized loss position, less than twelve months, number	2	50
Securities in an unrealized loss position, more than twelve months, fair value	$ 4,349,645	$ 1,376,680
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 297,891	$ 217,816
Securities in an unrealized loss position, more than twelve months, number	14	5
US States and Political Subdivisions Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 102,593	$ 1,066,743
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 2,932	$ 7,948
Securities in an unrealized loss position, less than twelve months, number	1	6
Securities in an unrealized loss position, more than twelve months, fair value		$ 518,969
Securities in an unrealized loss position, more than twelve months, unrealized loss		$ 24,993
Securities in an unrealized loss position, more than twelve months, number		4
Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 3,818,579	$ 75,119,674
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 94,798	$ 3,017,385
Securities in an unrealized loss position, less than twelve months, number	12	272
Securities in an unrealized loss position, more than twelve months, fair value	$ 9,575,609	$ 10,594,135
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 504,631	$ 1,397,499
Securities in an unrealized loss position, more than twelve months, number	36	45
Available-for-sale securities, continuous unrealized loss position, fair value	$ 13,394,188	$ 85,713,809
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ 599,429	$ 4,414,884
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions	48	317
Preferred Stock [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 49,580	$ 90,580
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 420	$ 9,365
Securities in an unrealized loss position, less than twelve months, number	1	2
Available-for-sale securities, continuous unrealized loss position, fair value	$ 49,580	$ 90,580
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ 420	$ 9,365
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions	1	2
Equity Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 83,044	$ 74,899
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 8,937	$ 17,082
Securities in an unrealized loss position, less than twelve months, number	1	1
Available-for-sale securities, continuous unrealized loss position, fair value	$ 83,044	$ 74,899
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ 8,937	$ 17,082
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions	1	1

Note 2 - Investments - Net Unre

Note 2 - Investments - Net Unrealized Gains Included in Accumulated Other Comprehensive Income (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Unrealized appreciation (depreciation) on available-for-sale securities	$ 8,340,729	$ (3,271,683)
Adjustment to deferred acquisition costs	(12,972)	10,124
Deferred income taxes	(1,748,829)	684,928
Net unrealized appreciation (depreciation) on available-for-sale securities	$ 6,578,928	$ (2,576,631)

Note 2 - Investments - Fixed Ma

Note 2 - Investments - Fixed Maturity Available-for-sale Securities by Contractual Maturities (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Fixed maturity available-for-sale securities - amortized cost	$ 180,701,752	$ 134,414,517
Fixed maturity available-for-sale securities - fair value	189,041,946	$ 131,152,199
Fixed Maturities [Member]
Due in one year or less - amortized cost	2,546,048
Due in one year or less - fair value	2,568,063
Due in one year through five years - amortized cost	27,494,110
Due after one year through five years	28,339,997
Due after five years through ten years - amortized cost	63,556,447
Due after five years through ten years - fair value	66,174,339
Due after ten years - amortized cost	87,084,753
Due after ten years - fair value	91,913,839
Due at multiple maturity dates - amortized cost	20,394
Due at multiple maturity dates - fair value	45,708
Fixed maturity available-for-sale securities - amortized cost	180,701,752
Fixed maturity available-for-sale securities - fair value	189,041,946
Other Long-term Investments [Member]
Due in one year or less - amortized cost	9,176,021
Due in one year or less - fair value	9,342,976
Due in one year through five years - amortized cost	28,834,511
Due after one year through five years	32,063,303
Due after five years through ten years - amortized cost	18,458,398
Due after five years through ten years - fair value	23,800,321
Due after ten years - amortized cost	8,276,008
Due after ten years - fair value	14,123,844
Due at multiple maturity dates - amortized cost
Due at multiple maturity dates - fair value
Fixed maturity available-for-sale securities - amortized cost	64,744,938
Fixed maturity available-for-sale securities - fair value	$ 79,330,444

Note 2 - Investments - Proceeds

Note 2 - Investments - Proceeds and Gross Realized Gains (Losses) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Fixed Maturities [Member]
Proceeds from sale, maturity, or collection of investments	$ 14,728,067	$ 5,909,141	$ 18,127,913	$ 8,488,932
Gross realized gains on sale of investments	227,024	74,419	271,579	80,520
Gross realized losses on sale of investments	(257,937)	(33,772)	(262,417)	(41,043)
Equity Securities [Member]
Proceeds from sale, maturity, or collection of investments	19,370	15,000	19,370	15,412
Gross realized gains on sale of investments	12,372	1	12,372	107
Gross realized losses on sale of investments
Mortgages [Member]
Proceeds from sale, maturity, or collection of investments	253,564	54,853	253,564	54,853
Gross realized gains on sale of investments	5,158		5,158
Gross realized losses on sale of investments	$ (46,378)	$ (1,322)	$ (46,378)	$ (1,322)

Note 2 - Investments - Major Ca

Note 2 - Investments - Major Categories of Net Investment Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Change in unrealized investment gains (losses)	$ 5,154,937	$ (1,954,200)	$ 9,173,805	$ (5,468,220)
Gross Investment income	7,039,055	5,744,780	13,277,763	11,003,634
Investment expenses	(756,012)	(706,639)	(1,421,264)	(1,281,251)
Net investment income	6,283,043	5,038,141	11,856,499	9,722,383
Fixed Maturities [Member]
Change in unrealized investment gains (losses)	6,525,157	(2,475,749)	11,602,512	(6,851,589)
Net realized investment gains (losses)	(30,913)	40,647	9,162	39,477
Gross Investment income	2,077,206	1,669,950	3,606,682	3,300,424
Equity Securities [Member]
Equity securities, sale of securities	12,372	1	12,372	107
Equity securities, changes in fair value	(7,871)	9,930	5,774	(13,790)
Gross Investment income	33,528	28,034	67,746	33,117
Preferred Stock [Member]
Change in unrealized investment gains (losses)	80	2,080	9,900	(1,700)
Other Long-term Investments [Member]
Gross Investment income	1,166,240	1,009,007	2,316,997	1,979,063
Mortgages [Member]
Gross Investment income	3,410,617	2,887,505	6,593,465	5,375,918
Policy Loans [Member]
Gross Investment income	33,495	30,342	65,768	59,425
Real Estate Investment [Member]
Net realized investment gains (losses)	(41,220)	(1,322)	(41,220)	(1,322)
Gross Investment income	67,514	94,003	131,810	188,006
Short-term Investments [Member]
Gross Investment income	$ 250,455	$ 25,939	$ 495,295	$ 67,681

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans on Real Estate (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 155,823,142	$ 130,049,610
Residential Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	145,387,331	120,108,297
Commercial Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	10,435,811	9,941,313
Commercial Portfolio Segment [Member] | Industrial Property [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	1,139,226	1,156,157
Commercial Portfolio Segment [Member] | Apartment Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	1,607,405	1,816,870
Commercial Portfolio Segment [Member] | Hotel [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	111,812	112,494
Commercial Portfolio Segment [Member] | Office Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	3,684,442	2,348,639
Commercial Portfolio Segment [Member] | Retail Site [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 3,892,926	$ 4,507,153

Note 2 - Investments - Investme

Note 2 - Investments - Investment Real Estate (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Investment real estate, net	$ 2,123,721	$ 2,392,031
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	(1,413,415)	(1,340,671)
Investment real estate, net	854,142	926,886
Residential Real Estate - Held for Sale [Member]
Investment real estate	$ 311,264	$ 506,830

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurements (Details Textual)	Jun. 30, 2019	Dec. 31, 2018
Number Of Private Placement Common Stocks	2	2

Note 3 - Fair Value Measureme_4

Note 3 - Fair Value Measurements - Fair Value Measured on a Recurring Basis (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Available-for-sale securities	$ 189,343,830	$ 131,441,447
Fair Value, Recurring [Member]
Available-for-sale securities	100,480	90,580
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	100,480	90,580
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
US Treasury and Government [Member]
Available-for-sale securities	1,780,624	2,704,711
US Treasury and Government [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	1,780,624	2,704,711
US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	1,780,624	2,704,711
US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities	10,489,129	9,478,032
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	10,489,129	9,478,032
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	10,489,129	9,478,032
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Residential Mortgage Backed Securities [Member]
Available-for-sale securities	45,708	51,155
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	45,708	51,155
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	45,708	51,155
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Corporate Debt Securities [Member]
Available-for-sale securities	139,536,618	97,964,191
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	139,536,618	97,964,191
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	139,536,618	97,964,191
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Asset-backed Securities [Member]
Available-for-sale securities	2,268,805	261,418
Asset-backed Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	2,268,805	261,418
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	2,268,805	261,418
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Debt Security, Government, Non-US [Member]
Available-for-sale securities	34,921,062	20,692,692
Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	34,921,062	20,692,692
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	34,921,062	20,692,692
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Debt Securities [Member]
Available-for-sale securities	189,041,946	131,152,199
Debt Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	189,041,946	131,152,199
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	189,041,946	131,152,199
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Mutual Funds [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	83,045	74,899
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	83,045	74,899
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Common Stock [Member]
Available-for-sale securities	118,359	123,769
Common Stock [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	118,359	123,769
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	50,363	59,733
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	67,996	64,036
Equity Securities [Member]
Available-for-sale securities	201,404	198,668
Equity Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	201,404	198,668
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	50,363	59,733
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	83,045	74,899
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Available-for-sale securities	$ 67,996	$ 64,036

Note 3 - Fair Value Measureme_5

Note 3 - Fair Value Measurements - Note 3 - Fair Value Measurement - Change in Fair Value of Available-for-sale Equity Securities (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Beginning balance	$ 64,036	$ 61,500
Joint venture net income	57,746	23,627
Joint venture distribution	(53,786)
Equity security sale		(15,000)
Ending balance	$ 67,996	$ 70,127

Note 3 - Fair Value Measureme_6

Note 3 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Policy loans	$ 1,890,350	$ 1,809,339
Short-term investments	1,814,777	896,371
Accrued investment income	5,091,843	2,672,978
Policy claims	1,202,838	1,102,257
Reported Value Measurement [Member]
Policy loans	1,890,350	1,809,339
Short-term investments	1,814,777	896,371
Other long-term investments	64,744,938	59,255,477
Cash and cash equivalents	27,546,376	29,665,605
Accrued investment income	5,091,843	2,672,978
Total financial assets	256,911,426	224,349,380
Policyholders' account balances	368,644,462	297,168,411
Policy claims	1,202,838	1,102,257
Total financial liabilities	369,847,300	298,270,668
Reported Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate	10,435,811	9,941,313
Reported Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	145,387,331	120,108,297
Estimate of Fair Value Measurement [Member]
Policy loans	1,890,350	1,809,339
Short-term investments	1,814,777	896,371
Other long-term investments	79,330,444	69,641,358
Cash and cash equivalents	27,546,376	29,665,605
Accrued investment income	5,091,843	2,672,978
Total financial assets	272,714,757	230,172,844
Policyholders' account balances	360,652,246	259,247,412
Policy claims	1,202,838	1,102,257
Total financial liabilities	361,855,084	260,349,669
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Policy loans
Short-term investments	1,814,777	896,371
Other long-term investments
Cash and cash equivalents	27,546,376	29,665,605
Accrued investment income
Total financial assets	29,361,153	30,561,976
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	1,890,350	1,809,339
Short-term investments
Other long-term investments	79,330,444	69,641,358
Cash and cash equivalents
Accrued investment income	5,091,843	2,672,978
Total financial assets	243,353,604	199,610,868
Policyholders' account balances	360,652,246	259,247,412
Policy claims	1,202,838	1,102,257
Total financial liabilities	361,855,084	260,349,669
Estimate of Fair Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate	11,245,412	9,698,226
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	11,245,412	9,698,226
Estimate of Fair Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	145,795,555	115,788,967
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	$ 145,795,555	$ 115,788,967

Note 4 - Segment Data - Segment

Note 4 - Segment Data - Segment Data - Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Total revenue	$ 12,378,391	$ 9,918,775	$ 24,003,091	$ 19,086,195
Income before income taxes	1,467,591	1,774,602	3,269,683	2,986,049
Depreciation and amortization expense	1,194,965	1,297,915	2,084,590	2,260,811
Life Insurance Operations [Member]
Total revenue	6,492,824	5,362,692	12,963,871	10,538,864
Income before income taxes	66,906	128,003	264,465	299,522
Depreciation and amortization expense	701,973	1,522,057	1,532,434	2,214,447
Annuity Operations [Member]
Total revenue	5,710,825	4,423,642	10,680,857	8,301,779
Income before income taxes	1,246,058	1,533,032	2,748,670	2,490,421
Depreciation and amortization expense	492,992	(224,142)	552,156	46,364
Corporate Segment [Member]
Total revenue	174,742	132,441	358,363	245,552
Income before income taxes	$ 154,627	$ 113,567	$ 256,548	$ 196,106

Note 4 - Segment Data - Segme_2

Note 4 - Segment Data - Segment Data - Assets (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Total assets	$ 594,443,435	$ 433,506,850
Assets held in trust under coinsurance agreement	92,977,748	25,494,700
Life Insurance Operations [Member]
Total assets	90,043,878	69,756,013
Annuity Operations [Member]
Total assets	406,195,312	332,303,028
Corporate Segment [Member]
Total assets	$ 5,226,497	$ 5,953,109

Note 5 - Federal Income Taxes (

Note 5 - Federal Income Taxes (Details Textual)	6 Months Ended
	Jun. 30, 2019
Domestic Tax Authority [Member]
Open Tax Year	2015 2016 2017 2018

Note 6 - Legal Matters and Co_2

Note 6 - Legal Matters and Contingent Liabilities (Details Textual) - USD ($)	Jun. 11, 2018	Feb. 17, 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, Damages Paid, Value	$ 1,850,000

Note 7 - Line of Credit (Detail

Note 7 - Line of Credit (Details Textual) - Line of Credit [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Nov. 08, 2018
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,500
Long-term Line of Credit, Total	$ 0	$ 0
Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Prime Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	5.00%

Note 8 - Other Comprehensive _3

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Balance	$ 44,556,441	$ 38,806,842	$ 39,125,251	$ 41,252,179
Total other comprehensive income (loss)	5,146,565	(1,920,770)	9,155,559	(5,374,996)
Balance	50,836,572	38,285,449	50,836,572	38,285,449
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Balance	1,434,225	1,329,041	(2,584,643)	4,843,061
Other comprehensive income before reclassifications, net of tax	5,130,516	(1,922,089)	9,181,043	(5,437,033)
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	(24,421)	32,111	7,238	31,187
Total other comprehensive income (loss)	5,154,937	(1,954,200)	9,173,805	(5,468,220)
Balance	6,589,162	(625,159)	6,589,162	(625,159)
Adjustment to Deferred Acquisition Costs [Member]
Balance	(1,862)	(22,316)	8,012	(82,110)
Other comprehensive income before reclassifications, net of tax	(8,372)	33,430	(18,246)	93,224
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax
Total other comprehensive income (loss)	(8,372)	33,430	(18,246)	93,224
Balance	(10,234)	11,114	(10,234)	11,114
AOCI Attributable to Parent [Member]
Balance	1,432,363	1,306,725	(2,576,631)	4,760,951
Other comprehensive income before reclassifications, net of tax	5,122,144	(1,888,659)	9,162,797	(5,343,809)
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	(24,421)	32,111	7,238	31,187
Total other comprehensive income (loss)	5,146,565	(1,920,770)	9,155,559	(5,374,996)
Balance	$ 6,578,928	$ (614,045)	$ 6,578,928	$ (614,045)

Note 8 - Other Comprehensive _4

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) - Other Comprehensive Income (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Unrealized holding gains (losses) arising during the period, pretax		$ 6,494,324	$ (2,433,022)	$ 11,621,574	$ (6,813,812)
Unrealized holding gains (losses) arising during the period, income tax expense		1,363,808	(510,933)	2,440,531	(1,445,287)
Unrealized holding gains (losses) arising during the period, net of tax		5,130,516	(1,922,089)	9,181,043	(5,437,033)
Realized gains (losses) on sales of securities	[1]	(30,913)	40,647	9,162	39,477
Income tax expense (benefit)	[2]	(6,492)	8,536	1,924	8,290
Reclassification adjustment for net losses included in operations having no credit losses, net of tax		(24,421)	32,111	7,238	31,187
Net unrealized gains (losses) on investments, pretax		6,525,237	(2,473,669)	11,612,412	(6,921,797)
Net unrealized gains (losses) on investments, income tax expense		1,370,300	(519,469)	2,438,607	(1,453,577)
Net unrealized gains (losses) on investments, net of tax		5,154,937	(1,954,200)	9,173,805	(5,468,220)
Adjustment to deferred acquisition costs, pretax		(10,599)	42,316	(23,096)	118,006
Adjustment to deferred acquisition costs, income tax expense		(2,227)	8,886	(4,850)	24,782
Adjustment to deferred acquisition costs, net of tax		(8,372)	33,430	(18,246)	93,224
Total other comprehensive income (loss), pretax		6,514,638	(2,431,353)	11,589,316	(6,803,791)
Total other comprehensive income (loss), income tax expense		1,368,073	(510,583)	2,433,757	(1,428,795)
Total other comprehensive income (loss), net of tax		$ 5,146,565	$ (1,920,770)	$ 9,155,559	$ (5,374,996)
[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 - Other Comprehensive _5

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) - Reclassified From Accumulated Other Comprehensive Income (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Realized gains (losses) on sales of securities	[1]	$ (30,913)	$ 40,647	$ 9,162	$ 39,477
Income tax expense (benefit)	[2]	(6,492)	8,536	1,924	8,290
Total reclassification adjustments		$ (24,421)	$ 32,111	$ 7,238	$ 31,187
[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 9 - Allowance for Loan L_3

Note 9 - Allowance for Loan Losses From Mortgage Loans on Real Estate (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 155,823,142	$ 130,049,610
Financing Receivable, Collectively Evaluated for Impairment	102,305,778	85,081,139
Independent Mortgage Loan Balances [Member]
Financing Receivable, Allowance for Credit Loss, Ending Balance	510,101	424,166
One Loan Originator and Investments [Member] | Independent Mortgage Loan Balances [Member]
Escrow Deposit	1,032,045	823,645
One Loan Originator [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	53,517,364		$ 38,019,842
One Loan Originator [Member] | Independent Mortgage Loan Balances [Member]
Escrow Amount Available	764,458	598,803
Advances To Loan Originator	4,235,667	4,942,870
Residential Real Estate - Held for Sale [Member] | Independent Mortgage Loan Balances [Member]
Escrow Amount Available	267,587	224,842
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 53,517,364	$ 44,968,471

Note 9 - Allowance for Loan L_4

Note 9 - Allowance for Loan Losses From Mortgage Loans On Real Estate - Allowance for Loss on Premium Financing (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Provision			$ 85,935	$ 67,481
Financing Receivable, Collectively Evaluated for Impairment	$ 102,305,778		102,305,778		$ 85,081,139
Residential Portfolio Segment [Member]
Allowance, beginning	405,548	$ 370,771	374,209	333,789
Provision	52,112	1,581	83,451	38,563
Allowance, ending	457,660	372,352	457,660	372,352
Collectively evaluated for impairment	457,660	372,352	457,660	372,352
Financing Receivable, Collectively Evaluated for Impairment	91,869,967	74,453,213	91,869,967	74,453,213
Commercial Portfolio Segment [Member]
Allowance, beginning	51,835	13,247	49,957	9,026
Provision	606	24,697	2,484	28,918
Allowance, ending	52,441	37,944	52,441	37,944
Collectively evaluated for impairment	52,441	37,944	52,441	37,944
Financing Receivable, Collectively Evaluated for Impairment	10,435,811	7,550,861	10,435,811	7,550,861
Premium Finance Loans [Member]
Allowance, beginning	457,383	384,018	424,166	342,815
Provision	52,718	26,278	85,935	67,481
Allowance, ending	510,101	410,296	510,101	410,296
Collectively evaluated for impairment	510,101	410,296	510,101	410,296
Financing Receivable, Collectively Evaluated for Impairment	$ 102,305,778	$ 82,004,074	$ 102,305,778	$ 82,004,074

Note 9 - Allowance for Loan L_5

Note 9 - Allowance for Loan Losses From Mortgage Loans on Real Estate - Mortgage Loan to Value Ratios (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Mortgage loans on real estate	$ 155,823,142	$ 130,049,610
Loan to Value Range1 [Member]
Mortgage loans on real estate	40,287,103	23,485,657
Loan to Value Range 2 [Member]
Mortgage loans on real estate	53,491,513	45,847,901
Loan to Value Range 3 [Member]
Mortgage loans on real estate	30,226,660	25,643,012
Loan to Value Range 4 [Member]
Mortgage loans on real estate	13,778,966	17,725,494
Loan to Value Range 5 [Member]
Mortgage loans on real estate	8,043,682	9,325,713
Loan to Value Range 6 [Member]
Mortgage loans on real estate	5,529,692	4,678,495
Loan to Value Range 7 [Member]
Mortgage loans on real estate	2,420,574	2,484,814
Loan to Value Range 8 [Member]
Mortgage loans on real estate	2,044,952	858,524
Residential Portfolio Segment [Member]
Mortgage loans on real estate	145,387,331	120,108,297
Residential Portfolio Segment [Member] | Loan to Value Range1 [Member]
Mortgage loans on real estate	40,009,415	23,205,637
Residential Portfolio Segment [Member] | Loan to Value Range 2 [Member]
Mortgage loans on real estate	50,946,715	43,631,465
Residential Portfolio Segment [Member] | Loan to Value Range 3 [Member]
Mortgage loans on real estate	28,768,990	24,890,831
Residential Portfolio Segment [Member] | Loan to Value Range 4 [Member]
Mortgage loans on real estate	12,330,507	16,055,231
Residential Portfolio Segment [Member] | Loan to Value Range 5 [Member]
Mortgage loans on real estate	5,701,543	5,984,097
Residential Portfolio Segment [Member] | Loan to Value Range 6 [Member]
Mortgage loans on real estate	4,386,532	3,249,410
Residential Portfolio Segment [Member] | Loan to Value Range 7 [Member]
Mortgage loans on real estate	2,193,677	2,233,102
Residential Portfolio Segment [Member] | Loan to Value Range 8 [Member]
Mortgage loans on real estate	1,049,952	858,524
Commercial Portfolio Segment [Member]
Mortgage loans on real estate	10,435,811	9,941,313
Commercial Portfolio Segment [Member] | Loan to Value Range1 [Member]
Mortgage loans on real estate	277,688	280,020
Commercial Portfolio Segment [Member] | Loan to Value Range 2 [Member]
Mortgage loans on real estate	2,544,798	2,216,436
Commercial Portfolio Segment [Member] | Loan to Value Range 3 [Member]
Mortgage loans on real estate	1,457,670	752,181
Commercial Portfolio Segment [Member] | Loan to Value Range 4 [Member]
Mortgage loans on real estate	1,448,459	1,670,263
Commercial Portfolio Segment [Member] | Loan to Value Range 5 [Member]
Mortgage loans on real estate	2,342,139	3,341,616
Commercial Portfolio Segment [Member] | Loan to Value Range 6 [Member]
Mortgage loans on real estate	1,143,160	1,429,085
Commercial Portfolio Segment [Member] | Loan to Value Range 7 [Member]
Mortgage loans on real estate	226,897	251,712
Commercial Portfolio Segment [Member] | Loan to Value Range 8 [Member]
Mortgage loans on real estate	$ 995,000

Note 10 - Coinsurance (Details

Note 10 - Coinsurance (Details Textual)	Jun. 30, 2019	Jan. 01, 2018
Percent Ceded		90.00%
Additional Percentage of Assets in Trust above Required Annuity Reserve	4.00%