First Trinity Financial (FTFC) 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 09, 2021
Document Information [Line Items]
Entity Central Index Key	0001395585
Entity Registrant Name	First Trinity Financial Corp.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	000-52613
Entity Incorporation, State or Country Code	OK
Entity Tax Identification Number	34-1991436
Entity Address, Address Line One	7633 East 63rd Place, Suite 230
Entity Address, City or Town	Tulsa
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74133-1246
City Area Code	918
Local Phone Number	249-2438
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		101,102
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,661,696

Consolidated Statements of Fina

Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Investments
Available-for-sale securities at fair value	$ 1,251,800	$ 0
Mortgage loans on real estate	169,710,121	174,909,062
Investment real estate	1,146,932	757,936
Policy loans	2,134,919	2,108,678
Short-term investments	2,851,073	3,309,020
Other long-term investments	68,187,353	71,025,133
Total investments	418,702,839	422,960,668
Cash and cash equivalents	55,199,237	40,230,095
Accrued investment income	5,105,328	5,370,508
Recoverable from reinsurers	1,088,924	1,234,221
Assets held in trust under coinsurance agreement	109,418,301	112,160,307
Agents' balances and due premiums	1,950,135	2,154,322
Deferred policy acquisition costs	47,197,236	44,513,669
Value of insurance business acquired	4,449,657	4,592,977
Other assets	10,049,650	10,378,502
Total assets	653,161,307	643,595,269
Policy liabilities
Policyholders' account balances	374,177,380	362,519,753
Future policy benefits	81,806,540	76,673,797
Policy claims	1,760,189	2,099,548
Other policy liabilities	88,253	119,699
Total policy liabilities	457,832,362	441,412,797
Funds withheld under coinsurance agreement	109,070,339	112,681,925
Deferred federal income taxes	9,096,302	9,220,905
Other liabilities	8,168,843	10,427,430
Total liabilities	584,167,846	573,743,057
Shareholders' equity
Additional paid-in capital	39,078,485	39,078,485
Treasury stock, at cost (247,580 shares as of June 30, 2021 and December 31, 2020 )	(893,947)	(893,947)
Accumulated other comprehensive income	15,899,716	17,518,858
Accumulated earnings	14,819,103	14,058,712
Total shareholders' equity	68,993,461	69,852,212
Total liabilities and shareholders' equity	653,161,307	643,595,269
Common Class A [Member]
Shareholders' equity
Common stock	89,093	89,093
Common Class B [Member]
Shareholders' equity
Common stock	1,011	1,011
Debt Securities [Member]
Investments
Available-for-sale securities at fair value	173,100,934	170,647,836
Equity Securities [Member]
Investments
Equity securities at fair value (cost: $278,333 and $183,219 as of June 30, 2021 and December 31, 2020, respectively)	$ 319,707	$ 203,003

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Available-for-sale securities at cost	$ 1,250,000
Treasury stock, shares (in shares)	247,580	247,580
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	8,909,276	8,909,276
Common stock, shares outstanding (in shares)	8,661,696	8,661,696
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	101,102	101,102
Common stock, shares outstanding (in shares)	101,102	101,102
Debt Securities [Member]
Available-for-sale securities at cost	$ 152,958,511	$ 148,431,010
Equity Securities [Member]
Equity securities, cost	$ 278,333	$ 183,219

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Premiums	$ 7,879,433	$ 6,439,224	$ 14,859,309	$ 12,805,100
Net investment income	6,072,502	5,876,073	12,221,344	12,145,916
Net realized investment gains	118,268	410,380	170,363	433,882
Service fees	81,601	7,025	179,588	17,896
Other income	45,567	105,377	59,341	118,791
Total revenues	14,197,371	12,838,079	27,489,945	25,521,585
Benefits and claims
Increase in future policy benefits	3,045,748	2,467,039	5,201,933	5,108,158
Death benefits	2,269,494	2,482,528	5,793,212	4,094,308
Surrenders	372,659	228,541	721,565	638,905
Interest credited to policyholders	3,088,957	3,056,982	6,207,492	6,120,227
Dividend, endowment and supplementary life contract benefits	71,156	70,519	143,066	153,218
Total benefits and claims	8,848,014	8,305,609	18,067,268	16,114,816
Policy acquisition costs deferred	(3,353,999)	(2,693,003)	(6,183,472)	(5,077,971)
Amortization of deferred policy acquisition costs	1,733,139	1,307,138	3,522,962	2,520,412
Amortization of value of insurance business acquired	68,151	73,576	143,320	153,550
Commissions	3,138,640	2,497,928	6,011,223	4,806,091
Other underwriting, insurance and acquisition expenses	2,176,280	2,735,448	4,860,942	5,376,920
Total expenses	3,762,211	3,921,087	8,354,975	7,779,002
Total benefits, claims and expenses	12,610,225	12,226,696	26,422,243	23,893,818
Income before total federal income tax expense	1,587,146	611,383	1,067,702	1,627,767
Current federal income tax expense (benefit)	1,510	(46,575)	1,510	0
Deferred federal income tax expense	364,593	184,362	305,801	364,915
Total federal income tax expense	366,103	137,787	307,311	364,915
Net income	$ 1,221,043	$ 473,596	$ 760,391	$ 1,262,852
Common Class A [Member]
Net income per common share basic and diluted
Net income per common share basic and diluted (in dollars per share)	$ 0.1396	$ 0.0541	$ 0.0869	$ 0.1444
Common Class B [Member]
Net income per common share basic and diluted
Net income per common share basic and diluted (in dollars per share)	$ 0.1186	$ 0.0460	$ 0.0739	$ 0.1227

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income		$ 1,221,043	$ 473,596	$ 760,391	$ 1,262,852
Other comprehensive income (loss)
Total net unrealized investment gains (losses) arising during the period		4,754,493	15,880,590	(1,968,938)	2,709,318
Less net realized investment gains having no credit losses	[1]	66,014	256,220	103,665	318,139
Net unrealized investment gains (losses)		4,688,479	15,624,370	(2,072,603)	2,391,179
Less adjustment to deferred acquisition costs		(7,328)	31,673	(23,057)	9,818
Other comprehensive income (loss) before federal income tax expense (benefit)		4,695,807	15,592,697	(2,049,546)	2,381,361
Federal income tax expense (benefit)		986,119	3,274,466	(430,404)	500,086
Total other comprehensive income (loss)		3,709,688	12,318,231	(1,619,142)	1,881,275
Total comprehensive income (loss)		$ 4,930,731	$ 12,791,827	$ (858,751)	$ 3,144,127
[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]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2019	$ 80,502	$ 0	$ 28,684,598	$ (893,947)	$ 9,616,660	$ 19,930,449	$ 57,418,262
Net income	0	0	0	0	0	1,262,852	1,262,852
Other comprehensive income (loss)	0	0	0	0	1,881,275	0	1,881,275
Shareholders' cash dividend	0	0	0	0	0	(384,734)	(384,734)
Acquisition of K-TENN Insurance Company	1,688	0	1,744,552	0	0	0	1,746,240
Recapitalization	(1,011)	1,011	0	0	0	0	0
Balance at Jun. 30, 2020	81,179	1,011	30,429,150	(893,947)	11,497,935	20,808,567	61,923,895
Balance at Dec. 31, 2019	80,502	0	28,684,598	(893,947)	9,616,660	19,930,449	57,418,262
Shareholders' cash dividend							(393,178)
Balance at Dec. 31, 2020	89,093	1,011	39,078,485	(893,947)	17,518,858	14,058,712	69,852,212
Balance at Mar. 31, 2020	81,179	1,011	30,429,150	(893,947)	(820,296)	20,719,705	49,516,802
Net income	0	0	0	0	0	473,596	473,596
Other comprehensive income (loss)	0	0	0	0	12,318,231	0	12,318,231
Shareholders' cash dividend	0	0	0	0	0	(384,734)	(384,734)
Balance at Jun. 30, 2020	81,179	1,011	30,429,150	(893,947)	11,497,935	20,808,567	61,923,895
Balance at Dec. 31, 2020	89,093	1,011	39,078,485	(893,947)	17,518,858	14,058,712	69,852,212
Net income	0	0	0	0	0	760,391	760,391
Other comprehensive income (loss)	0	0	0	0	(1,619,142)	0	(1,619,142)
Balance at Jun. 30, 2021	89,093	1,011	39,078,485	(893,947)	15,899,716	14,819,103	68,993,461
Balance at Mar. 31, 2021	89,093	1,011	39,078,485	(893,947)	12,190,028	13,598,060	64,062,730
Net income	0	0	0	0	0	1,221,043	1,221,043
Other comprehensive income (loss)	0	0	0	0	3,709,688	0	3,709,688
Balance at Jun. 30, 2021	$ 89,093	$ 1,011	$ 39,078,485	$ (893,947)	$ 15,899,716	$ 14,819,103	$ 68,993,461

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Operating activities
Net income	$ 1,221,043	$ 473,596	$ 760,391	$ 1,262,852
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for depreciation			0	72,744
Accretion of discount on investments			(2,448,867)	(2,538,970)
Net realized investment gains	(118,268)	(410,380)	(170,363)	(433,882)
Amortization of policy acquisition cost	1,733,139	1,307,138	3,522,962	2,520,412
Policy acquisition costs deferred	(3,353,999)	(2,693,003)	(6,183,472)	(5,077,971)
Amortization of loan origination fees			43,585	26,508
Amortization of value of insurance business acquired	68,151	73,576	143,320	153,550
Allowance for mortgage loan losses			(97,966)	4,069
Provision for deferred federal income tax expense	364,593	184,362	305,801	364,915
Interest credited to policyholders	3,088,957	3,056,982	6,207,492	6,120,227
Change in assets and liabilities:
Policy loans			(26,241)	(17,608)
Short-term investments			457,947	(1,118,142)
Accrued investment income			265,180	(267,145)
Recoverable from reinsurers			145,297	22,877
Assets held in trust under coinsurance agreement			2,043,041	(2,459,182)
Agents' balances and due premiums			204,187	(412,171)
Other assets			328,852	(8,698,283)
Future policy benefits			5,132,743	5,077,052
Policy claims			(339,359)	(132,268)
Other policy liabilities			(31,446)	(5,199)
Other liabilities (excludes change in payable for securities purchased of $1,171,985 and $333,156 in 2021 and 2020, respectively)			(3,430,572)	(1,045,175)
Net cash provided by (used in) operating activities			6,832,512	(6,580,790)
Investing activities
Maturities of fixed maturity securities			700,000	548,500
Sales of fixed maturity securities			3,268,218	11,165,264
Purchases of equity securities			(145,168)	(47,963)
Sales of equity securities			89	0
Acquisition of K-TENN Insurance Company			0	1,110,299
Joint venture distributions			50,054	49,933
Purchases of mortgage loans			(48,117,912)	(37,894,403)
Payments on mortgage loans			53,161,263	32,894,590
Purchases of other long-term investments			(882,027)	(3,942,291)
Payments on other long-term investments			6,224,896	5,541,855
Sale of real estate			75,940	682,945
Net change in receivable and payable for securities sold and purchased			1,171,985	333,156
Net cash provided by investing activities			5,599,116	9,436,885
Financing activities
Policyholders' account deposits			19,382,246	6,012,739
Policyholders' account withdrawals			(16,844,732)	(14,644,858)
Shareholders' cash dividend			0	(384,734)
Net cash provided by (used in) financing activities			2,537,514	(9,016,853)
Increase (decrease) in cash and cash equivalents			14,969,142	(6,160,758)
Cash and cash equivalents, beginning of period			40,230,095	23,212,170	$ 23,212,170
Cash and cash equivalents, end of period	$ 55,199,237	$ 17,051,412	55,199,237	17,051,412	$ 40,230,095
Debt Securities [Member]
Investing activities
Purchases of securities			(8,658,222)	(1,005,000)
Preferred Stock [Member]
Investing activities
Purchases of securities			$ (1,250,000)	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Change in payable of securities purchased	$ 1,171,985	$ 333,156

Supplemental Disclosure - Cash

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	Supplemental Disclosure – Cash and Non-Cash Impact on Investing Activities (Unaudited) During the six June 30, 2021 2020, In conjunction with this foreclosure, the non-cash impact on investing activities is summarized as follows: Unaudited Six Months Ended Six Months Ended June 30, 2021 June 30, 2020 Reductions in mortgage loans due to foreclosure $ 458,587 $ 744,091 Investment real estate held-for-sale acquired through foreclosure (458,587 ) (744,091 ) Net cash used in investing activities $ - $ - On January 1, 2020, In conjunction with this 2020 December 31, 2020 Cash used in acquisition of K-TENN Insurance Company $ - Cash provided in acquisition of K-TENN Insurance Company 1,110,299 Increase in cash from acquisition of K-TENN Insurance Company 1,110,299 Fair value of assets acquired in acquisition of K-TENN Insurance Company (excluding cash) Available-for-sale fixed maturity securities 800,000 Policy loans 1,045 Accrued investment income 490 Due premiums 3,986 Other assets 461 Total fair value of assets acquired (excluding cash) 805,982 Fair value of liabilities assumed in acquisition of K-TENN Insurance Company Future policy benefits 150,583 Other policy liabilities 9,212 Other liabilities 10,246 Total fair value of liabilities assumed 170,041 Fair value of net assets acquired in acquisition of K-TENN Insurance Company (excluding cash) 635,941 Fair value of net assets acquired in acquisition of K-TENN Insurance Company (including cash) $ 1,746,240 See notes to consolidated financial statements (unaudited).

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. 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”), Trinity Mortgage Corporation (“TMC”), formerly known as First Trinity Capital Corporation (“FTCC”) and Trinity American, Inc. (“TAI”). The Company was incorporated in Oklahoma on April 19, 2004, The Company owns 100% of TLIC. TLIC owns 100% of FBLIC. TLIC and FBLIC are primarily engaged in the business of marketing, underwriting and distributing a broad range of individual life insurance and annuity products to individuals. TLIC’s and FBLIC’s current product portfolio consists of a modified premium whole life insurance policy with a flexible premium deferred annuity rider, whole life, term, final expense, accidental death and dismemberment and annuity products. The term products are both renewable and convertible and issued for 10, 15, The Company owns 100% of TMC that was incorporated in 2006, January 2007. 2020 third The Company owns 100% of TAI (formerly known as Citizens American Life, Inc.). TAI was incorporated in Barbados, West Indies on March 24, 2016 2019. Company Capitalization The Company raised $1,450,000 from two private placement stock offerings during 2004 June 22, 2005 February 23, 2007; June 29, 2010 April 30, 2012 August 15, 2012 March 8, 2013. January 1, 2020, The Company also issued 702,685 shares of its common stock in connection with two stock dividends paid to shareholders in 2011 2012 In 2020, 10% 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. Company Recapitalization On October 2, 2019, ● An amendment and restatement of FTFC’s Certificate of Incorporation to authorize 40,000,000 shares of Class A common stock and 10,000,000 shares of Class B common stock and to establish the relative rights, preferences and privileges of, and the restrictions and limitations on, the Class A common stock and the Class B common stock. ● An amendment and restatement of FTFC’s Certificate of Incorporation to automatically reclassify each issued and outstanding share of our existing common stock as one 1 one 1 These proposals received Form A regulatory approval from the Oklahoma Insurance Department (“OID”) on February 27, 2020 December 31, 2019, March 12, 2020. March 12, 2020, one one may one .85 Acquisition of Other Companies On December 23, 2008, On December 31, 2008, On August 31, 2009, On December 28, 2011, On April 28, 2015, On April 3, 2018, 2019. Effective January 1, 2020, 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, 2021 not December 31, 2021 not 10 December 31, 2020. Management continues to actively monitor the COVID- 2019 Principles of Consolidation The consolidated financial statements include the accounts and operations of the Company and its subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. Reclassifications Certain reclassifications have been made in the prior year and prior quarter financial statements to conform to current year and current quarter classifications. These reclassifications had no Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may may Common Stock Class A and Class B common stock are fully paid, non-assessable and has a par value of $ .01 Treasury Stock Treasury stock, representing shares of the Company’s common stock that have been reacquired after having been issued and fully paid, is recorded at the reacquisition cost and the shares are no Subsequent Events Management has evaluated all events subsequent to June 30, 2021 Recent Accounting Pronouncements Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13 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 The updated guidance was effective for reporting periods beginning after December 15, 2019. December 15, 2022. December 15, 2018. not Intangibles - Goodwill and Other In January 2017, 2017 04 2 1 The implied fair value of goodwill is currently determined in Step 2 1 1 1 may not 2 1. The Company adopted this guidance in first 2020. not Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, 2018 12 The updated guidance was effective for reporting periods beginning after December 15, 2020. December 15, 2024. not may 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 2024 Disclosure Framework Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, 2018 13 The Company adopted this guidance in first 2020. not Income Taxes - Simplifying the Accounting for Income Taxes In December 2019, 2019 12 first 2021. not

Note 2 - Investments

Note 2 - Investments	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	2. Investments in fixed maturity and preferred stock available-for-sale and equity securities as of June 30, 2021 December 31, 2020 Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value June 30, 2021 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 429,608 $ 2,310 $ 57 $ 431,861 States and political subdivisions 8,349,010 789,796 22,399 9,116,407 Residential mortgage-backed securities 12,048 14,482 - 26,530 Corporate bonds 112,390,476 15,186,992 35,230 127,542,238 Asset-backed securities 1,763,144 63,605 4,447 1,822,302 Exchange traded securities 500,644 25,956 - 526,600 Foreign bonds 29,113,581 4,116,360 11,747 33,218,194 Certificate of deposits 400,000 16,802 - 416,802 Total fixed maturity securities 152,958,511 20,216,303 73,880 173,100,934 Preferred stock securities 1,250,000 1,800 - 1,251,800 Equity securities Mutual funds 91,981 - 10,215 81,766 Corporate common stock 186,352 51,589 - 237,941 Total equity securities 278,333 51,589 10,215 319,707 Total fixed maturity, preferred stock and equity securities $ 154,486,844 $ 20,269,692 $ 84,095 $ 174,672,441 December 31, 2020 Fixed maturity securities U.S. government and U.S. government agencies $ 430,735 $ 3,568 $ - $ 434,303 States and political subdivisions 8,830,403 891,285 31,932 9,689,756 Residential mortgage-backed securities 14,022 14,420 - 28,442 Corporate bonds 106,387,417 16,859,782 111,840 123,135,359 Asset-backed securities 2,052,174 32,908 47,813 2,037,269 Exchange traded securities 500,000 - 200 499,800 Foreign bonds 29,616,259 4,641,338 59,230 34,198,367 Certificate of deposits 600,000 24,540 - 624,540 Total fixed maturity securities 148,431,010 22,467,841 251,015 170,647,836 Equity securities Mutual funds 91,981 - 7,739 84,242 Corporate common stock 91,238 27,523 - 118,761 Total equity securities 183,219 27,523 7,739 203,003 Total fixed maturity and equity securities $ 148,614,229 $ 22,495,364 $ 258,754 $ 170,850,839 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, 2021 December 31, 2020 Unrealized Number of Fair Value Loss Securities June 30, 2021 (Unaudited) Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 100,265 $ 57 1 Corporate bonds 2,595,569 6,632 8 Foreign bonds 550,630 11,747 1 Total less than 12 months in an unrealized loss position 3,246,464 18,436 10 More than 12 months in an unrealized loss position States and political subdivisions $ 630,978 $ 22,399 1 Corporate bonds 774,644 28,598 2 Asset-backed securities 363,859 4,447 1 Total more than 12 months in an unrealized loss position 1,769,481 55,444 4 Total fixed maturity securities in an unrealized loss position 5,015,945 73,880 14 Equity securities (mutual funds), less than 12 months in an unrealized loss position 81,766 10,215 1 Total fixed maturity and equity securities in an unrealized loss position $ 5,097,711 $ 84,095 $ 15 December 31, 2020 Fixed maturity securities Less than 12 months in an unrealized loss position States and political subdivisions $ 625,098 $ 31,932 1 Corporate bonds 878,716 41,508 3 Asset-backed securities 1,047,443 47,813 3 Exchange traded securities 499,800 200 2 Foreign bonds 285,569 28,282 4 Total less than 12 months in an unrealized loss position 3,336,626 149,735 13 More than 12 months in an unrealized loss position Corporate bonds 1,084,205 70,332 3 Foreign bonds 532,875 30,948 1 Total more than 12 months in an unrealized loss position 1,617,080 101,280 4 Total fixed maturity securities in an unrealized loss position 4,953,706 251,015 17 Equity securities (mutual funds), less than 12 months in an unrealized loss position 84,242 7,739 1 Total fixed maturity and equity securities in an unrealized loss position $ 5,037,948 $ 258,754 $ 18 As of June 30, 2021, June 30, 2021. 14 As of December 31, 2020, December 31, 2020. 17 As of June 30, 2021, As of December 31, 2020, Fixed maturity securities were 93% and 97% investment grade as rated by Standard & Poor’s as of June 30, 2021 December 31, 2020, 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 The Company recorded one 2020. 2020, December 31, 2020. no 2020 no six June 30, 2021. Management believes that the Company will fully recover its cost basis in the securities held as of June 30, 2021, not not Net unrealized gains included in other comprehensive income for investments classified as available-for-sale, net of the effect of deferred income taxes and deferred acquisition costs assuming that the appreciation had been realized as of June 30, 2021 December 31, 2020, (Unaudited) June 30, 2021 December 31, 2020 Unrealized appreciation on available-for-sale securities $ 20,144,223 $ 22,216,826 Adjustment to deferred acquisition costs (18,000 ) (41,057 ) Deferred income taxes (4,226,507 ) (4,656,911 ) Net unrealized appreciation on available-for-sale securities $ 15,899,716 $ 17,518,858 The Company’s investment in lottery prize cash flows categorized as other long-term investments in the statement of financial position was $68,187,353 and $71,025,133 as of June 30, 2021 December 31, 2020, The amortized cost and fair value of fixed maturity available-for-sale securities and other long-term investments as of June 30, 2021, June 30, 2021 (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 $ 3,503,378 $ 3,538,257 $ 11,949,329 $ 12,194,405 Due after one year through five years 34,165,680 36,397,719 34,763,987 39,296,880 Due after five years through ten years 40,665,433 45,431,053 15,349,969 20,526,749 Due after ten years 74,611,972 87,707,376 6,124,068 11,720,675 Due at multiple maturity dates 12,048 26,529 - - $ 152,958,511 $ 173,100,934 $ 68,187,353 $ 83,738,709 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, investment real estate and mortgage loans on real estate for the three six June 30, 2021 2020 Three Months Ended June 30, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate Mortgage Loans on Real Estate 2021 2020 2021 2020 2021 2020 2021 2020 Proceeds $ 1,549,139 $ 6,162,777 $ 1 $ - $ 75,940 $ 682,945 $ 53,161,263 $ 18,649,805 Gross realized gains 66,349 281,178 - - 6,349 33,696 38,670 108,099 Gross realized losses (335 ) (24,958 ) - - - - - - Six Months Ended June 30, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate Mortgage Loans on Real Estate 2021 2020 2021 2020 2021 2020 2021 2020 Proceeds $ 3,968,218 $ 11,713,764 $ 89 $ - $ 75,940 $ 682,945 $ 53,161,263 $ 32,894,590 Gross realized gains 130,499 346,487 89 - 6,349 33,696 38,670 108,099 Gross realized losses (26,834 ) (28,348 ) - - - - - - The accumulated change in unrealized investment gains (losses) for fixed maturity and preferred stock available-for-sale for the three six June 30, 2021 2020 three six June 30, 2021 2020 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2021 2020 2021 2020 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ 4,686,679 $ 15,623,530 $ (2,074,403 ) $ 2,392,639 Preferred stock 1,800 840 1,800 (1,460 ) Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities 66,014 256,220 103,665 318,139 Equity securities, sale of securities - - 89 - Equity securities, changes in fair value 7,235 12,365 21,590 (26,052 ) Investment real estate 6,349 33,696 6,349 33,696 Mortgage loans on real estate 38,670 108,099 38,670 108,099 Major categories of net investment income for the three six June 30, 2021 2020 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2021 2020 2021 2020 Fixed maturity securities $ 1,727,496 $ 1,674,340 $ 3,423,390 $ 3,512,722 Preferred stock and equity securities 26,405 23,746 43,404 56,069 Other long-term investments 1,222,180 1,304,285 2,505,074 2,651,423 Mortgage loans 3,478,075 3,796,491 7,226,307 7,366,896 Policy loans 38,957 38,122 77,575 75,829 Real estate - 68,681 - 137,363 Short-term and other investments 35,078 29,280 44,373 53,817 Gross investment income 6,528,191 6,934,945 13,320,123 13,854,119 Investment expenses (455,689 ) (1,058,872 ) (1,098,779 ) (1,708,203 ) Net investment income $ 6,072,502 $ 5,876,073 $ 12,221,344 $ 12,145,916 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, 2021 December 31, 2020, June 30, 2021 December 31, 2020, The Company’s mortgage loans by property type as of June 30, 2021 December 31, 2020 (Unaudited) June 30, 2021 December 31, 2020 Residential mortgage loans $ 159,917,212 $ 163,906,373 Commercial mortgage loans by property type Apartment 1,588,189 - Industrial 653,367 670,708 Lodging 284,281 290,889 Office building 3,902,583 4,596,331 Retail 3,364,489 5,444,761 Total commercial mortgage loans by property type 9,792,909 11,002,689 Total mortgage loans $ 169,710,121 $ 174,909,062 There were 11 loans with a remaining principal balance of $3,300,516 that were more than 90 days past due as of June 30, 2021. December 31, 2020. There were no mortgage loans in default and in the foreclosure process as of June 30, 2021. December 31, 2020. The Company’s investment real estate as of June 30, 2021 December 31, 2020 (Unaudited) June 30, 2021 December 31, 2020 Land - held for investment $ 540,436 $ 540,436 Total land 540,436 540,436 Residential real estate - held for sale 606,496 217,500 Total residential real estate 606,496 217,500 Investment real estate, net of accumulated depreciation $ 1,146,932 $ 757,936 On November 16, 2020, TLIC owns approximately three acres of undeveloped land located in Topeka, Kansas with a carrying value of $409,436. FBLIC owns approximately one During 2021, one 2021, During 2020, 2020,

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3. 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, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total June 30, 2021 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 431,861 $ - $ 431,861 States and political subdivisions - 9,116,407 - 9,116,407 Residential mortgage-backed securities - 26,530 - 26,530 Corporate bonds - 127,542,238 - 127,542,238 Asset-backed securities - 1,822,302 - 1,822,302 Exchange traded securities - 526,600 - 526,600 Foreign bonds - 33,218,194 - 33,218,194 Certificate of deposits - 416,802 - 416,802 Total fixed maturity securities $ - $ 173,100,934 $ - $ 173,100,934 Preferred stock securities, available-for-sale $ 1,251,800 $ - $ - $ 1,251,800 Equity securities Mutual funds $ - $ 81,766 $ - $ 81,766 Corporate common stock 181,744 - 56,197 237,941 Total equity securities $ 181,744 $ 81,766 $ 56,197 $ 319,707 December 31, 2020 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 434,303 $ - $ 434,303 States and political subdivisions - 9,689,756 - 9,689,756 Residential mortgage-backed securities - 28,442 - 28,442 Corporate bonds - 123,135,359 - 123,135,359 Asset-backed securities - 2,037,269 - 2,037,269 Exchange traded securities - 499,800 - 499,800 Foreign bonds 34,198,367 34,198,367 Certificate of deposits - 624,540 - 624,540 Total fixed maturity securities $ - $ 170,647,836 $ - $ 170,647,836 Equity securities Mutual funds $ - $ 84,242 $ - $ 84,242 Corporate common stock 51,629 - 67,132 118,761 Total equity securities $ 51,629 $ 84,242 $ 67,132 $ 203,003 As of June 30, 2021 December 31, 2020, 3 two no These private placement common 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 securities and equity securities are 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, 2021 2020 Unaudited Six Months Ended June 30, 2021 2020 Beginning balance $ 67,133 $ 64,107 Joint venture net income 39,118 47,963 Joint venture distribution (50,054 ) (49,933 ) Ending balance $ 56,197 $ 62,137 The carrying amount and fair value of the Company’s financial assets and financial liabilities disclosed, but not June 30, 2021 December 31, 2020, Financial instruments disclosed, but not Carrying Fair Amount Value Level 1 Level 2 Level 3 June 30, 2021 (Unaudited) Financial assets Mortgage loans on real estate Commercial and Industrial $ 9,792,909 $ 9,905,493 $ - $ - $ 9,905,493 Residential 159,917,212 179,276,307 - - 179,276,307 Policy loans 2,134,919 2,134,919 - - 2,134,919 Short-term investments 2,851,073 2,851,073 2,851,073 - - Other long-term investments 68,187,353 83,738,709 - - 83,738,709 Cash and cash equivalents 55,199,237 55,199,237 55,199,237 - - Accrued investment income 5,105,328 5,105,328 - - 5,105,328 Total financial assets $ 303,188,031 $ 338,211,066 $ 58,050,310 $ - $ 280,160,756 Financial liabilities Policyholders' account balances $ 374,177,380 $ 380,368,117 $ - $ - $ 380,368,117 Policy claims 1,760,189 1,760,189 - - 1,760,189 Total financial liabilities $ 375,937,569 $ 382,128,306 $ - $ - $ 382,128,306 December 31, 2020 Financial assets Mortgage loans on real estate Commercial $ 11,002,689 $ 11,085,406 $ - $ - $ 11,085,406 Residential 163,906,373 184,802,993 - - 184,802,993 Policy loans 2,108,678 2,108,678 - - 2,108,678 Short-term investments 3,309,020 3,309,020 3,309,020 - - Other long-term investments 71,025,133 89,264,246 - - 89,264,246 Cash and cash equivalents 40,230,095 40,230,095 40,230,095 - - Accrued investment income 5,370,508 5,370,508 - - 5,370,508 Total financial assets $ 296,952,496 $ 336,170,946 $ 43,539,115 $ - $ 292,631,831 Financial liabilities Policyholders' account balances $ 362,519,753 $ 380,666,901 $ - $ - $ 380,666,901 Policy claims 2,099,548 2,099,548 - - 2,099,548 Total financial liabilities $ 364,619,301 $ 382,766,449 $ - $ - $ 382,766,449 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, Preferred Stock and Equity Securities The fair value of fixed maturity securities, preferred stock 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 both residential and commercial mortgage loans, the discount rate used was indexed to the LIBOR yield curve adjusted for an appropriate credit spread. 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, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	4. The Company has a life insurance segment, consisting of the life insurance operations of TLIC, FBLIC and TAI, an annuity segment, consisting of the annuity operations of TLIC, FBLIC and TAI and a corporate segment. Results for the parent company and the operations of TMC, after elimination of intercompany amounts, are allocated to the corporate segment. These segments as of June 30, 2021 December 31, 2020 three six June 30, 2021 2020 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2021 2020 2021 2020 Revenues: Life insurance operations $ 9,026,587 $ 7,517,213 $ 17,063,471 $ 14,842,681 Annuity operations 4,982,940 5,129,076 10,024,471 10,349,328 Corporate operations 187,844 191,790 402,003 329,576 Total $ 14,197,371 $ 12,838,079 $ 27,489,945 $ 25,521,585 Income (loss) before income taxes: Life insurance operations $ 827,254 $ (400,643 ) $ (114,755 ) $ (336,239 ) Annuity operations 735,409 799,259 1,259,939 1,711,177 Corporate operations 24,483 212,767 (77,482 ) 252,829 Total $ 1,587,146 $ 611,383 $ 1,067,702 $ 1,627,767 Depreciation and amortization expense: Life insurance operations $ 1,541,698 $ 1,151,910 $ 3,082,892 $ 2,184,297 Annuity operations 298,615 286,567 626,975 588,917 Total $ 1,840,313 $ 1,438,477 $ 3,709,867 $ 2,773,214 (Unaudited) June 30, 2021 December 31, 2020 Assets: Life insurance operations $ 123,593,451 $ 120,484,734 Annuity operations 524,931,681 518,257,307 Corporate operations 4,636,175 4,853,228 Total $ 653,161,307 $ 643,595,269

Note 5 - Federal Income Taxes

Note 5 - Federal Income Taxes	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	5. 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 2017 2019

Note 6 - Legal Matters and Cont

Note 6 - Legal Matters and Contingent Liabilities	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Contingencies Disclosure [Text Block]	6. A lawsuit filed by the Company and Chairman, President and Chief Executive Officer, Gregg E. Zahn, in 2013 February 17, 2017. The jury originally 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 of damages against Mr. Pettigrew. In addition, the jury found that Mr. Pettigrew had defamed Mr. Zahn and intentionally inflicted emotional distress on Mr. Zahn and awarded Mr. Zahn $3,500,000 of damages against Mr. Pettigrew. In addition to the original damages awarded by the jury, the Company and Mr. Zahn began to aggressively communicate the correction of the untrue statements to outside parties. Mr. Pettigrew appealed this decision. In February 2020, not December 2020, It remains the Company’s intention to again vigorously prosecute this action against the Defendants for damages and for correction of the defamatory statements. In the opinion of the Company’s management, the ultimate resolution of any contingencies that may not Guaranty fund assessments, brought about by the insolvency of life and health insurers, are levied at the discretion of the various state guaranty fund associations to cover association obligations. In most states, guaranty fund assessments may five

Note 7 - Line of Credit

Note 7 - Line of Credit	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	7. On September 25, 2020, September 15, 2021. 360 $1.5 June 30, 2021 December 31, 2020.

Note 8 - Other Comprehensive In

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	8. The changes in the components of the Company’s accumulated other comprehensive income (loss) for the three six June 30, 2021 2020 Three Months Ended June 30, 2021 and 2020 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of April 1, 2021 $ 12,210,023 $ (19,995 ) $ 12,190,028 Other comprehensive income before reclassifications, net of tax 3,756,050 5,789 3,761,839 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 52,151 - 52,151 Other comprehensive income 3,703,899 5,789 3,709,688 Balance as of June 30, 2021 $ 15,913,922 $ (14,206 ) $ 15,899,716 Balance as of April 1, 2020 $ (821,898 ) $ 1,602 $ (820,296 ) Other comprehensive income before reclassifications, net of tax 12,545,666 (25,021 ) 12,520,645 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 202,414 - 202,414 Other comprehensive income 12,343,252 (25,021 ) 12,318,231 Balance as of June 30, 2020 $ 11,521,354 $ (23,419 ) $ 11,497,935 Six Months Ended June 30, 2021 and 2020 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of January 1, 2021 $ 17,551,279 $ (32,421 ) $ 17,518,858 Other comprehensive loss before reclassifications, net of tax (1,555,462 ) 18,215 (1,537,247 ) Less amounts reclassified from accumulated other comprehensive income (loss) having no credit losses, net of tax 81,895 - 81,895 Other comprehensive loss (1,637,357 ) 18,215 (1,619,142 ) Balance as of June 30, 2021 $ 15,913,922 $ (14,206 ) $ 15,899,716 Balance as of January 1, 2020 $ 9,632,323 $ (15,663 ) $ 9,616,660 Other comprehensive income before reclassifications, net of tax 2,140,361 (7,756 ) 2,132,605 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 251,330 - 251,330 Other comprehensive income 1,889,031 (7,756 ) 1,881,275 Balance as of June 30, 2020 $ 11,521,354 $ (23,419 ) $ 11,497,935 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, 2021 2020 Three Months Ended June 30, 2021 (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 $ 4,754,493 $ 998,443 $ 3,756,050 Reclassification adjustment for net gains included in operations having no credit losses 66,014 13,863 52,151 Net unrealized gains on investments 4,688,479 984,580 3,703,899 Adjustment to deferred acquisition costs 7,328 1,539 5,789 Total other comprehensive income $ 4,695,807 $ 986,119 $ 3,709,688 Three Months Ended June 30, 2020 (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 $ 15,880,590 $ 3,334,924 $ 12,545,666 Reclassification adjustment for net gains included in operations having no credit losses 256,220 53,806 202,414 Net unrealized gains on investments 15,624,370 3,281,118 12,343,252 Adjustment to deferred acquisition costs (31,673 ) (6,652 ) (25,021 ) Total other comprehensive income $ 15,592,697 $ 3,274,466 $ 12,318,231 Six Months Ended June 30, 2021 (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 $ (1,968,938 ) $ (413,476 ) $ (1,555,462 ) Reclassification adjustment for net gains included in operations having no credit losses 103,665 21,770 81,895 Net unrealized losses on investments (2,072,603 ) (435,246 ) (1,637,357 ) Adjustment to deferred acquisition costs 23,057 4,842 18,215 Total other comprehensive loss $ (2,049,546 ) $ (430,404 ) $ (1,619,142 ) Six Months Ended June 30, 2020 (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 $ 2,709,318 $ 568,957 $ 2,140,361 Reclassification adjustment for net gains included in operations having no credit losses 318,139 66,809 251,330 Net unrealized gains on investments 2,391,179 502,148 1,889,031 Adjustment to deferred acquisition costs (9,818 ) (2,062 ) (7,756 ) Total other comprehensive income $ 2,381,361 $ 500,086 $ 1,881,275 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, 2021 2020 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) Reclassification Adjustments 2021 2020 2021 2020 Unrealized gains (losses) on available-for-sale securities having no credit losses: Realized gains on sales of securities (a) $ 66,014 $ 256,220 $ 103,665 $ 318,139 Income tax expense (b) 13,863 53,806 21,770 66,809 Total reclassification adjustments $ 52,151 $ 202,414 $ 81,895 $ 251,330 (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, 2021
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, 2021, third June 30, 2021, June 30, 2021 June 30, 2021. As of December 31, 2020, third December 31, 2020, December 31, 2020 December 31, 2020. 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, 2021 2020 June 30, 2021 2020, one third Unaudited Three Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2021 2020 2021 2020 2021 2020 Allowance, beginning $ 462,774 $ 435,413 $ 48,406 $ 68,105 $ 511,180 $ 503,518 Charge offs - - - - - - Recoveries - - - - - - Provision (68,056 ) 8,077 804 (2,148 ) (67,252 ) 5,929 Allowance, ending $ 394,718 $ 443,490 $ 49,210 $ 65,957 $ 443,928 $ 509,447 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 394,718 $ 443,490 $ 49,210 $ 65,957 $ 443,928 $ 509,447 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 78,548,772 $ 88,304,680 $ 9,792,909 $ 13,125,448 $ 88,341,681 $ 101,430,128 (Unaudited) Six Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2021 2020 2021 2020 2021 2020 Allowance, beginning $ 486,604 $ 443,057 $ 55,290 $ 62,321 $ 541,894 $ 505,378 Charge offs - - - - - - Recoveries - - - - - - Provision (91,886 ) 433 (6,080 ) 3,636 (97,966 ) 4,069 Allowance, ending $ 394,718 $ 443,490 $ 49,210 $ 65,957 $ 443,928 $ 509,447 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 394,718 $ 443,490 $ 49,210 $ 65,957 $ 443,928 $ 509,447 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 78,548,772 $ 88,304,680 $ 9,792,909 $ 13,125,448 $ 88,341,681 $ 101,430,128 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, 2021 December 31, 2020 Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Over 70% to 80% $ 56,416,732 $ 53,905,657 $ - $ - $ 56,416,732 $ 53,905,657 Over 60% to 70% 41,921,893 50,752,236 2,489,817 1,608,934 44,411,710 52,361,170 Over 50% to 60% 26,765,793 27,493,242 2,190,739 2,391,856 28,956,532 29,885,098 Over 40% to 50% 15,750,629 13,875,675 950,144 786,143 16,700,773 14,661,818 Over 30% to 40% 7,954,704 7,846,306 1,637,521 1,176,419 9,592,225 9,022,725 Over 20% to 30% 8,123,070 5,538,886 2,206,172 2,774,020 10,329,242 8,312,906 Over 10% to 20% 2,559,437 3,699,228 318,516 2,072,994 2,877,953 5,772,222 10% or less 424,954 795,143 - 192,323 424,954 987,466 Total $ 159,917,212 $ 163,906,373 $ 9,792,909 $ 11,002,689 $ 169,710,121 $ 174,909,062

Note 10 - Coinsurance

Note 10 - Coinsurance	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Reinsurance [Text Block]	10. Effective January 1, 2018, December 31, 2017 April 1, 2020, 90%. 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% of assets above the annuity reserve required under U.S. statutory accounting principles. This coinsurance agreement may 30

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Stockholders' Equity, Policy [Policy Text Block]	Company Capitalization The Company raised $1,450,000 from two private placement stock offerings during 2004 June 22, 2005 February 23, 2007; June 29, 2010 April 30, 2012 August 15, 2012 March 8, 2013. January 1, 2020, The Company also issued 702,685 shares of its common stock in connection with two stock dividends paid to shareholders in 2011 2012 In 2020, 10% 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.
Company Recapitalization [Policy Text Block]	Company Recapitalization On October 2, 2019, ● An amendment and restatement of FTFC’s Certificate of Incorporation to authorize 40,000,000 shares of Class A common stock and 10,000,000 shares of Class B common stock and to establish the relative rights, preferences and privileges of, and the restrictions and limitations on, the Class A common stock and the Class B common stock. ● An amendment and restatement of FTFC’s Certificate of Incorporation to automatically reclassify each issued and outstanding share of our existing common stock as one 1 one 1 These proposals received Form A regulatory approval from the Oklahoma Insurance Department (“OID”) on February 27, 2020 December 31, 2019, March 12, 2020. March 12, 2020, one one may one .85
Business Combinations Policy [Policy Text Block]	Acquisition of Other Companies On December 23, 2008, On December 31, 2008, On August 31, 2009, On December 28, 2011, On April 28, 2015, On April 3, 2018, 2019. Effective January 1, 2020,
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, 2021 not December 31, 2021 not 10 December 31, 2020. Management continues to actively monitor the COVID- 2019
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, Comparability Adjustment [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 Class A and Class B common stock are 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, 2021
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13 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 The updated guidance was effective for reporting periods beginning after December 15, 2019. December 15, 2022. December 15, 2018. not Intangibles - Goodwill and Other In January 2017, 2017 04 2 1 The implied fair value of goodwill is currently determined in Step 2 1 1 1 may not 2 1. The Company adopted this guidance in first 2020. not Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, 2018 12 The updated guidance was effective for reporting periods beginning after December 15, 2020. December 15, 2024. not may 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 2024 Disclosure Framework Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, 2018 13 The Company adopted this guidance in first 2020. not Income Taxes - Simplifying the Accounting for Income Taxes In December 2019, 2019 12 first 2021. not

Supplemental Disclosure - Cas_2

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Unaudited Six Months Ended Six Months Ended June 30, 2021 June 30, 2020 Reductions in mortgage loans due to foreclosure $ 458,587 $ 744,091 Investment real estate held-for-sale acquired through foreclosure (458,587 ) (744,091 ) Net cash used in investing activities $ - $ -
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	December 31, 2020 Cash used in acquisition of K-TENN Insurance Company $ - Cash provided in acquisition of K-TENN Insurance Company 1,110,299 Increase in cash from acquisition of K-TENN Insurance Company 1,110,299 Fair value of assets acquired in acquisition of K-TENN Insurance Company (excluding cash) Available-for-sale fixed maturity securities 800,000 Policy loans 1,045 Accrued investment income 490 Due premiums 3,986 Other assets 461 Total fair value of assets acquired (excluding cash) 805,982 Fair value of liabilities assumed in acquisition of K-TENN Insurance Company Future policy benefits 150,583 Other policy liabilities 9,212 Other liabilities 10,246 Total fair value of liabilities assumed 170,041 Fair value of net assets acquired in acquisition of K-TENN Insurance Company (excluding cash) 635,941 Fair value of net assets acquired in acquisition of K-TENN Insurance Company (including cash) $ 1,746,240

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 429,608 $ 2,310 $ 57 $ 431,861 States and political subdivisions 8,349,010 789,796 22,399 9,116,407 Residential mortgage-backed securities 12,048 14,482 - 26,530 Corporate bonds 112,390,476 15,186,992 35,230 127,542,238 Asset-backed securities 1,763,144 63,605 4,447 1,822,302 Exchange traded securities 500,644 25,956 - 526,600 Foreign bonds 29,113,581 4,116,360 11,747 33,218,194 Certificate of deposits 400,000 16,802 - 416,802 Total fixed maturity securities 152,958,511 20,216,303 73,880 173,100,934 Preferred stock securities 1,250,000 1,800 - 1,251,800 Equity securities Mutual funds 91,981 - 10,215 81,766 Corporate common stock 186,352 51,589 - 237,941 Total equity securities 278,333 51,589 10,215 319,707 Total fixed maturity, preferred stock and equity securities $ 154,486,844 $ 20,269,692 $ 84,095 $ 174,672,441 December 31, 2020 Fixed maturity securities U.S. government and U.S. government agencies $ 430,735 $ 3,568 $ - $ 434,303 States and political subdivisions 8,830,403 891,285 31,932 9,689,756 Residential mortgage-backed securities 14,022 14,420 - 28,442 Corporate bonds 106,387,417 16,859,782 111,840 123,135,359 Asset-backed securities 2,052,174 32,908 47,813 2,037,269 Exchange traded securities 500,000 - 200 499,800 Foreign bonds 29,616,259 4,641,338 59,230 34,198,367 Certificate of deposits 600,000 24,540 - 624,540 Total fixed maturity securities 148,431,010 22,467,841 251,015 170,647,836 Equity securities Mutual funds 91,981 - 7,739 84,242 Corporate common stock 91,238 27,523 - 118,761 Total equity securities 183,219 27,523 7,739 203,003 Total fixed maturity and equity securities $ 148,614,229 $ 22,495,364 $ 258,754 $ 170,850,839
Schedule of Unrealized Loss on Investments [Table Text Block]	Unrealized Number of Fair Value Loss Securities June 30, 2021 (Unaudited) Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 100,265 $ 57 1 Corporate bonds 2,595,569 6,632 8 Foreign bonds 550,630 11,747 1 Total less than 12 months in an unrealized loss position 3,246,464 18,436 10 More than 12 months in an unrealized loss position States and political subdivisions $ 630,978 $ 22,399 1 Corporate bonds 774,644 28,598 2 Asset-backed securities 363,859 4,447 1 Total more than 12 months in an unrealized loss position 1,769,481 55,444 4 Total fixed maturity securities in an unrealized loss position 5,015,945 73,880 14 Equity securities (mutual funds), less than 12 months in an unrealized loss position 81,766 10,215 1 Total fixed maturity and equity securities in an unrealized loss position $ 5,097,711 $ 84,095 $ 15 December 31, 2020 Fixed maturity securities Less than 12 months in an unrealized loss position States and political subdivisions $ 625,098 $ 31,932 1 Corporate bonds 878,716 41,508 3 Asset-backed securities 1,047,443 47,813 3 Exchange traded securities 499,800 200 2 Foreign bonds 285,569 28,282 4 Total less than 12 months in an unrealized loss position 3,336,626 149,735 13 More than 12 months in an unrealized loss position Corporate bonds 1,084,205 70,332 3 Foreign bonds 532,875 30,948 1 Total more than 12 months in an unrealized loss position 1,617,080 101,280 4 Total fixed maturity securities in an unrealized loss position 4,953,706 251,015 17 Equity securities (mutual funds), less than 12 months in an unrealized loss position 84,242 7,739 1 Total fixed maturity and equity securities in an unrealized loss position $ 5,037,948 $ 258,754 $ 18
Unrealized Gain (Loss) on Investments [Table Text Block]	(Unaudited) June 30, 2021 December 31, 2020 Unrealized appreciation on available-for-sale securities $ 20,144,223 $ 22,216,826 Adjustment to deferred acquisition costs (18,000 ) (41,057 ) Deferred income taxes (4,226,507 ) (4,656,911 ) Net unrealized appreciation on available-for-sale securities $ 15,899,716 $ 17,518,858
Realized Gain (Loss) on Investments [Table Text Block]	Three Months Ended June 30, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate Mortgage Loans on Real Estate 2021 2020 2021 2020 2021 2020 2021 2020 Proceeds $ 1,549,139 $ 6,162,777 $ 1 $ - $ 75,940 $ 682,945 $ 53,161,263 $ 18,649,805 Gross realized gains 66,349 281,178 - - 6,349 33,696 38,670 108,099 Gross realized losses (335 ) (24,958 ) - - - - - - Six Months Ended June 30, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate Mortgage Loans on Real Estate 2021 2020 2021 2020 2021 2020 2021 2020 Proceeds $ 3,968,218 $ 11,713,764 $ 89 $ - $ 75,940 $ 682,945 $ 53,161,263 $ 32,894,590 Gross realized gains 130,499 346,487 89 - 6,349 33,696 38,670 108,099 Gross realized losses (26,834 ) (28,348 ) - - - - - -
Investment Income [Table Text Block]	Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2021 2020 2021 2020 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ 4,686,679 $ 15,623,530 $ (2,074,403 ) $ 2,392,639 Preferred stock 1,800 840 1,800 (1,460 ) Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities 66,014 256,220 103,665 318,139 Equity securities, sale of securities - - 89 - Equity securities, changes in fair value 7,235 12,365 21,590 (26,052 ) Investment real estate 6,349 33,696 6,349 33,696 Mortgage loans on real estate 38,670 108,099 38,670 108,099 Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2021 2020 2021 2020 Fixed maturity securities $ 1,727,496 $ 1,674,340 $ 3,423,390 $ 3,512,722 Preferred stock and equity securities 26,405 23,746 43,404 56,069 Other long-term investments 1,222,180 1,304,285 2,505,074 2,651,423 Mortgage loans 3,478,075 3,796,491 7,226,307 7,366,896 Policy loans 38,957 38,122 77,575 75,829 Real estate - 68,681 - 137,363 Short-term and other investments 35,078 29,280 44,373 53,817 Gross investment income 6,528,191 6,934,945 13,320,123 13,854,119 Investment expenses (455,689 ) (1,058,872 ) (1,098,779 ) (1,708,203 ) Net investment income $ 6,072,502 $ 5,876,073 $ 12,221,344 $ 12,145,916
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(Unaudited) June 30, 2021 December 31, 2020 Residential mortgage loans $ 159,917,212 $ 163,906,373 Commercial mortgage loans by property type Apartment 1,588,189 - Industrial 653,367 670,708 Lodging 284,281 290,889 Office building 3,902,583 4,596,331 Retail 3,364,489 5,444,761 Total commercial mortgage loans by property type 9,792,909 11,002,689 Total mortgage loans $ 169,710,121 $ 174,909,062
Schedule of Real Estate Properties [Table Text Block]	(Unaudited) June 30, 2021 December 31, 2020 Land - held for investment $ 540,436 $ 540,436 Total land 540,436 540,436 Residential real estate - held for sale 606,496 217,500 Total residential real estate 606,496 217,500 Investment real estate, net of accumulated depreciation $ 1,146,932 $ 757,936
Available For Sale Fixed Maturity Securities [Member]
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	June 30, 2021 (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 $ 3,503,378 $ 3,538,257 $ 11,949,329 $ 12,194,405 Due after one year through five years 34,165,680 36,397,719 34,763,987 39,296,880 Due after five years through ten years 40,665,433 45,431,053 15,349,969 20,526,749 Due after ten years 74,611,972 87,707,376 6,124,068 11,720,675 Due at multiple maturity dates 12,048 26,529 - - $ 152,958,511 $ 173,100,934 $ 68,187,353 $ 83,738,709

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total June 30, 2021 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 431,861 $ - $ 431,861 States and political subdivisions - 9,116,407 - 9,116,407 Residential mortgage-backed securities - 26,530 - 26,530 Corporate bonds - 127,542,238 - 127,542,238 Asset-backed securities - 1,822,302 - 1,822,302 Exchange traded securities - 526,600 - 526,600 Foreign bonds - 33,218,194 - 33,218,194 Certificate of deposits - 416,802 - 416,802 Total fixed maturity securities $ - $ 173,100,934 $ - $ 173,100,934 Preferred stock securities, available-for-sale $ 1,251,800 $ - $ - $ 1,251,800 Equity securities Mutual funds $ - $ 81,766 $ - $ 81,766 Corporate common stock 181,744 - 56,197 237,941 Total equity securities $ 181,744 $ 81,766 $ 56,197 $ 319,707 December 31, 2020 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 434,303 $ - $ 434,303 States and political subdivisions - 9,689,756 - 9,689,756 Residential mortgage-backed securities - 28,442 - 28,442 Corporate bonds - 123,135,359 - 123,135,359 Asset-backed securities - 2,037,269 - 2,037,269 Exchange traded securities - 499,800 - 499,800 Foreign bonds 34,198,367 34,198,367 Certificate of deposits - 624,540 - 624,540 Total fixed maturity securities $ - $ 170,647,836 $ - $ 170,647,836 Equity securities Mutual funds $ - $ 84,242 $ - $ 84,242 Corporate common stock 51,629 - 67,132 118,761 Total equity securities $ 51,629 $ 84,242 $ 67,132 $ 203,003
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Unaudited Six Months Ended June 30, 2021 2020 Beginning balance $ 67,133 $ 64,107 Joint venture net income 39,118 47,963 Joint venture distribution (50,054 ) (49,933 ) Ending balance $ 56,197 $ 62,137
Fair Value, by Balance Sheet Grouping [Table Text Block]	Carrying Fair Amount Value Level 1 Level 2 Level 3 June 30, 2021 (Unaudited) Financial assets Mortgage loans on real estate Commercial and Industrial $ 9,792,909 $ 9,905,493 $ - $ - $ 9,905,493 Residential 159,917,212 179,276,307 - - 179,276,307 Policy loans 2,134,919 2,134,919 - - 2,134,919 Short-term investments 2,851,073 2,851,073 2,851,073 - - Other long-term investments 68,187,353 83,738,709 - - 83,738,709 Cash and cash equivalents 55,199,237 55,199,237 55,199,237 - - Accrued investment income 5,105,328 5,105,328 - - 5,105,328 Total financial assets $ 303,188,031 $ 338,211,066 $ 58,050,310 $ - $ 280,160,756 Financial liabilities Policyholders' account balances $ 374,177,380 $ 380,368,117 $ - $ - $ 380,368,117 Policy claims 1,760,189 1,760,189 - - 1,760,189 Total financial liabilities $ 375,937,569 $ 382,128,306 $ - $ - $ 382,128,306 December 31, 2020 Financial assets Mortgage loans on real estate Commercial $ 11,002,689 $ 11,085,406 $ - $ - $ 11,085,406 Residential 163,906,373 184,802,993 - - 184,802,993 Policy loans 2,108,678 2,108,678 - - 2,108,678 Short-term investments 3,309,020 3,309,020 3,309,020 - - Other long-term investments 71,025,133 89,264,246 - - 89,264,246 Cash and cash equivalents 40,230,095 40,230,095 40,230,095 - - Accrued investment income 5,370,508 5,370,508 - - 5,370,508 Total financial assets $ 296,952,496 $ 336,170,946 $ 43,539,115 $ - $ 292,631,831 Financial liabilities Policyholders' account balances $ 362,519,753 $ 380,666,901 $ - $ - $ 380,666,901 Policy claims 2,099,548 2,099,548 - - 2,099,548 Total financial liabilities $ 364,619,301 $ 382,766,449 $ - $ - $ 382,766,449

Note 4 - Segment Data (Tables)

Note 4 - Segment Data (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2021 2020 2021 2020 Revenues: Life insurance operations $ 9,026,587 $ 7,517,213 $ 17,063,471 $ 14,842,681 Annuity operations 4,982,940 5,129,076 10,024,471 10,349,328 Corporate operations 187,844 191,790 402,003 329,576 Total $ 14,197,371 $ 12,838,079 $ 27,489,945 $ 25,521,585 Income (loss) before income taxes: Life insurance operations $ 827,254 $ (400,643 ) $ (114,755 ) $ (336,239 ) Annuity operations 735,409 799,259 1,259,939 1,711,177 Corporate operations 24,483 212,767 (77,482 ) 252,829 Total $ 1,587,146 $ 611,383 $ 1,067,702 $ 1,627,767 Depreciation and amortization expense: Life insurance operations $ 1,541,698 $ 1,151,910 $ 3,082,892 $ 2,184,297 Annuity operations 298,615 286,567 626,975 588,917 Total $ 1,840,313 $ 1,438,477 $ 3,709,867 $ 2,773,214
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	(Unaudited) June 30, 2021 December 31, 2020 Assets: Life insurance operations $ 123,593,451 $ 120,484,734 Annuity operations 524,931,681 518,257,307 Corporate operations 4,636,175 4,853,228 Total $ 653,161,307 $ 643,595,269

Note 8 - Other Comprehensive _2

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 30, 2021 and 2020 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of April 1, 2021 $ 12,210,023 $ (19,995 ) $ 12,190,028 Other comprehensive income before reclassifications, net of tax 3,756,050 5,789 3,761,839 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 52,151 - 52,151 Other comprehensive income 3,703,899 5,789 3,709,688 Balance as of June 30, 2021 $ 15,913,922 $ (14,206 ) $ 15,899,716 Balance as of April 1, 2020 $ (821,898 ) $ 1,602 $ (820,296 ) Other comprehensive income before reclassifications, net of tax 12,545,666 (25,021 ) 12,520,645 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 202,414 - 202,414 Other comprehensive income 12,343,252 (25,021 ) 12,318,231 Balance as of June 30, 2020 $ 11,521,354 $ (23,419 ) $ 11,497,935 Six Months Ended June 30, 2021 and 2020 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of January 1, 2021 $ 17,551,279 $ (32,421 ) $ 17,518,858 Other comprehensive loss before reclassifications, net of tax (1,555,462 ) 18,215 (1,537,247 ) Less amounts reclassified from accumulated other comprehensive income (loss) having no credit losses, net of tax 81,895 - 81,895 Other comprehensive loss (1,637,357 ) 18,215 (1,619,142 ) Balance as of June 30, 2021 $ 15,913,922 $ (14,206 ) $ 15,899,716 Balance as of January 1, 2020 $ 9,632,323 $ (15,663 ) $ 9,616,660 Other comprehensive income before reclassifications, net of tax 2,140,361 (7,756 ) 2,132,605 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 251,330 - 251,330 Other comprehensive income 1,889,031 (7,756 ) 1,881,275 Balance as of June 30, 2020 $ 11,521,354 $ (23,419 ) $ 11,497,935
Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 30, 2021 (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 $ 4,754,493 $ 998,443 $ 3,756,050 Reclassification adjustment for net gains included in operations having no credit losses 66,014 13,863 52,151 Net unrealized gains on investments 4,688,479 984,580 3,703,899 Adjustment to deferred acquisition costs 7,328 1,539 5,789 Total other comprehensive income $ 4,695,807 $ 986,119 $ 3,709,688 Three Months Ended June 30, 2020 (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 $ 15,880,590 $ 3,334,924 $ 12,545,666 Reclassification adjustment for net gains included in operations having no credit losses 256,220 53,806 202,414 Net unrealized gains on investments 15,624,370 3,281,118 12,343,252 Adjustment to deferred acquisition costs (31,673 ) (6,652 ) (25,021 ) Total other comprehensive income $ 15,592,697 $ 3,274,466 $ 12,318,231 Six Months Ended June 30, 2021 (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 $ (1,968,938 ) $ (413,476 ) $ (1,555,462 ) Reclassification adjustment for net gains included in operations having no credit losses 103,665 21,770 81,895 Net unrealized losses on investments (2,072,603 ) (435,246 ) (1,637,357 ) Adjustment to deferred acquisition costs 23,057 4,842 18,215 Total other comprehensive loss $ (2,049,546 ) $ (430,404 ) $ (1,619,142 ) Six Months Ended June 30, 2020 (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 $ 2,709,318 $ 568,957 $ 2,140,361 Reclassification adjustment for net gains included in operations having no credit losses 318,139 66,809 251,330 Net unrealized gains on investments 2,391,179 502,148 1,889,031 Adjustment to deferred acquisition costs (9,818 ) (2,062 ) (7,756 ) Total other comprehensive income $ 2,381,361 $ 500,086 $ 1,881,275
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 2021 2020 2021 2020 Unrealized gains (losses) on available-for-sale securities having no credit losses: Realized gains on sales of securities (a) $ 66,014 $ 256,220 $ 103,665 $ 318,139 Income tax expense (b) 13,863 53,806 21,770 66,809 Total reclassification adjustments $ 52,151 $ 202,414 $ 81,895 $ 251,330

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, 2021
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Unaudited Three Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2021 2020 2021 2020 2021 2020 Allowance, beginning $ 462,774 $ 435,413 $ 48,406 $ 68,105 $ 511,180 $ 503,518 Charge offs - - - - - - Recoveries - - - - - - Provision (68,056 ) 8,077 804 (2,148 ) (67,252 ) 5,929 Allowance, ending $ 394,718 $ 443,490 $ 49,210 $ 65,957 $ 443,928 $ 509,447 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 394,718 $ 443,490 $ 49,210 $ 65,957 $ 443,928 $ 509,447 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 78,548,772 $ 88,304,680 $ 9,792,909 $ 13,125,448 $ 88,341,681 $ 101,430,128 (Unaudited) Six Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2021 2020 2021 2020 2021 2020 Allowance, beginning $ 486,604 $ 443,057 $ 55,290 $ 62,321 $ 541,894 $ 505,378 Charge offs - - - - - - Recoveries - - - - - - Provision (91,886 ) 433 (6,080 ) 3,636 (97,966 ) 4,069 Allowance, ending $ 394,718 $ 443,490 $ 49,210 $ 65,957 $ 443,928 $ 509,447 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 394,718 $ 443,490 $ 49,210 $ 65,957 $ 443,928 $ 509,447 Carrying Values: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 78,548,772 $ 88,304,680 $ 9,792,909 $ 13,125,448 $ 88,341,681 $ 101,430,128
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, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Over 70% to 80% $ 56,416,732 $ 53,905,657 $ - $ - $ 56,416,732 $ 53,905,657 Over 60% to 70% 41,921,893 50,752,236 2,489,817 1,608,934 44,411,710 52,361,170 Over 50% to 60% 26,765,793 27,493,242 2,190,739 2,391,856 28,956,532 29,885,098 Over 40% to 50% 15,750,629 13,875,675 950,144 786,143 16,700,773 14,661,818 Over 30% to 40% 7,954,704 7,846,306 1,637,521 1,176,419 9,592,225 9,022,725 Over 20% to 30% 8,123,070 5,538,886 2,206,172 2,774,020 10,329,242 8,312,906 Over 10% to 20% 2,559,437 3,699,228 318,516 2,072,994 2,877,953 5,772,222 10% or less 424,954 795,143 - 192,323 424,954 987,466 Total $ 159,917,212 $ 163,906,373 $ 9,792,909 $ 11,002,689 $ 169,710,121 $ 174,909,062

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, 2021	Jun. 30, 2020	Dec. 31, 2020	Jan. 01, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure	$ 458,587	$ 744,091
K-TENN Insurance Company ("K-TENN") [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total				$ 1,916,281
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total			$ 170,041	$ 170,041
Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure	$ 458,587	$ 744,091	$ 797,158

Supplemental Disclosure - Cas_4

Supplemental Disclosure - Cash and Non-Cash Impact on Operating, Investing and Financing Activities - Supplement Disclosures (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Reductions in mortgage loans due to foreclosure	$ 458,587	$ 744,091
Investment real estate held-for-sale acquired through foreclosure	(458,587)	(744,091)
Net cash used in investing activities	$ 0	$ 0

Supplemental Disclosure - Cas_5

Supplemental Disclosure - Cash and Non-Cash Impact on Operating, Investing and Financing Activities - Acquisition (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jan. 01, 2020
Cash provided in acquisition of K-TENN Insurance Company	$ 0	$ 1,110,299
K-TENN Insurance Company ("K-TENN") [Member]
Cash used in acquisition of K-TENN Insurance Company			$ 0
Cash provided in acquisition of K-TENN Insurance Company			1,110,299
Increase in cash from acquisition of K-TENN Insurance Company			1,110,299
Available-for-sale fixed maturity securities			800,000
Policy loans			1,045
Accrued investment income			490
Due premiums			3,986
Other assets			461
Total fair value of assets acquired (excluding cash)			805,982
Future policy benefits			150,583
Other policy liabilities			9,212
Other liabilities			10,246
Total fair value of liabilities assumed			170,041	$ 170,041
Fair value of net assets acquired in acquisition of K-TENN Insurance Company (excluding cash)			635,941
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total			$ 1,746,240	$ 1,746,240

Note 1 - Organization and Sig_2

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

Jan. 01, 2020USD ($)shares

Apr. 03, 2018USD ($)

Apr. 28, 2015USD ($)

Dec. 28, 2011USD ($)

Dec. 31, 2008USD ($)

Dec. 23, 2008USD ($)

Jun. 30, 2020USD ($)

Jun. 30, 2021shares

Jun. 30, 2020USD ($)

Dec. 31, 2020USD ($)$ / sharesshares

Dec. 31, 2004USD ($)

Dec. 31, 2012USD ($)shares

Mar. 08, 2013USD ($)

Mar. 08, 2013USD ($)shares

Oct. 02, 2019shares

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 (in shares) | shares

702,685

Number of Stock Dividends

2

Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ / shares

$ 0.05

Dividends, Cash, Total

$ 384,734

$ 384,734

$ 393,178

Treasury Stock, Shares, Acquired (in shares) | 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 Class A [Member]

Common Stock Dividends, Shares (in shares) | shares

791,339

Stock Issued During Period, Value, Stock Dividend

$ 8,657,249

Dividends, Common Stock, Stock Percent

10.00%

Common Stock, Shares Authorized (in shares) | shares

40,000,000

40,000,000

40,000,000

Percent of Dividends

100.00%

Common Class B [Member]

Common Stock, Shares Authorized (in shares) | shares

10,000,000

10,000,000

10,000,000

Percent of Dividends

85.00%

Retained Earnings [Member]

Dividends, Common Stock, Total

$ 8,657,249

$ 5,270,138

Dividends, Cash, Total

$ 384,734

$ 384,734

Common Stock Including Additional Paid in Capital [Member]

Stock Issued During Period, Value, Stock Dividend

$ 5,270,138

K-TENN Insurance Company ("K-TENN") [Member]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares

168,866

Business Combination, Consideration Transferred, Equity Interests Issued and Issuable

$ 1,746,240

Business Acquisition, Percentage of Voting Interests Acquired

100.00%

Business Combination, Consideration Transferred, Total

$ 1,746,240

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total

$ 1,746,240

$ 1,746,240

Trinity American, Inc. ("TAI") [Member]

Business Acquisition, Percentage of Voting Interests Acquired

100.00%

Business Combination, Consideration Transferred, Total

$ 250,000

Trinity American, Inc. ("TAI") [Member]

Wholly Owned Subsidiary Ownership Percentage

100.00%

Term Products 10 Year [Member]

Term Products Number of Years (Year)

10 years

Term Products 15 Year [Member]

Term Products Number of Years (Year)

15 years

Term Products 20 Year [Member]

Term Products Number of Years (Year)

20 years

Term Products 30 Year [Member]

Term Products Number of Years (Year)

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 (Year)

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 (in shares) | shares

7,347,488

Payments of Stock Issuance Costs

$ 3,624,518

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	Nov. 16, 2020USD ($)ft²a	Jun. 30, 2021USD ($)a	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2021
Deposit Assets, Total		$ 4,460,866		$ 4,464,398
Other Assets, Fair Value Disclosure		$ 4,519,496		$ 4,531,967
Number Of Loans Past Due		11		24
Financing Receivable, 90 Days or More Past Due, Still Accruing		$ 3,300,516		$ 3,979,997
Past Due Loans, Term Past Due (Day)		90 days		90 days
Number of Mortgage Loans in Default		0		0
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure		$ 458,587	$ 744,091
Real Estate Investments, Net, Total		1,146,932		$ 757,936
Proceeds from Sale of Real Estate Held-for-investment, Total		75,940	682,945
Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure		458,587	$ 744,091	797,158
Real Estate Investments, Net, Total		69,591		791,704
Gains (Losses) on Sales of Investment Real Estate		6,349		106,665
Proceeds from Sale of Real Estate Held-for-investment, Total		$ 75,940		$ 898,369
Trinity Life Insurance Company [Member] | Topeka Kansas [Member] | Office Building [Member]
Area of Real Estate Property (Square Foot) | ft²	20,000
TLIC [Member] | Topeka Kansas [Member]
Area of Land (Acre) | a	3
TLIC [Member] | Topeka Kansas [Member] | Assets Held-for-sale not Part of a Disposal Group [Member]
Area of Land (Acre) | a		3
TLIC [Member] | Topeka Kansas [Member] | Office Building [Member]
Real Estate Held-for-sale	$ 1,078,037
Gain (Loss) on Investments, Total	240,374
Proceeds from Sale of Real Estate, Total	$ 1,318,411
TLIC [Member] | Topeka Kansas [Member] | Underdeveloped Land [Member]
Land		$ 409,436
FBLIC [Member] | Jefferson City Missouri [Member] | Assets Held-for-sale not Part of a Disposal Group [Member]
Area of Land (Acre) | a		0.5
FBLIC [Member] | Jefferson City Missouri [Member] | Underdeveloped Land [Member]
Land		$ 131,000
Debt Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total		14		17
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total		$ 73,880		$ 251,015
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total		5,015,945		4,953,706
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost		$ 5,089,825		$ 5,204,721
Fair Value to Cost Ratio		99.00%		95.00%
Fixed Maturity Securities, Investment Grade Percentage				92.00%
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		$ 10,215		$ 7,739
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total		81,766		84,242
Available-for-sale Securities Continuous Unrealized Loss Position Amortized Cost		$ 91,981		$ 91,981
Fair Value to Cost Ratio		93.00%		97.00%
Fixed Maturity Securities, Investment Grade Percentage		89.00%
Debt Security, Corporate, Non-US [Member]
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total				$ 850,000
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Recognized in Earnings				801,340
Lottery Prize Cash Flows [Member]
Other Investments, Total		$ 68,187,353		$ 71,025,133

Note 2 - Investments - Availabl

Note 2 - Investments - Available-for-sale Fixed Maturity and Equity Securities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Available-for-sale securities at cost	$ 1,250,000
Fixed maturity available-for-sale securities - fair value	1,251,800	$ 0
Available-for-sale securities at fair value	1,251,800	0
Debt and Equity Securities, amortized cost or cost	154,486,844	148,614,229
Debt and Equity Securities, gross unrealized gains	20,269,692	22,495,364
Debt and Equity Securities, gross unrealized losses	84,095	258,754
Debt and Equity Securities, fair value	174,672,441	170,850,839
Debt and Equity Securities, gross unrealized gains	20,269,692	22,495,364
Debt and Equity Securities, fair value	174,672,441	170,850,839
US Treasury and Government [Member]
Available-for-sale securities at cost	429,608	430,735
Securities, gross unrealized gains	2,310	3,568
Securities, gross unrealized losses	57	0
Fixed maturity available-for-sale securities - fair value	431,861	434,303
Securities, gross unrealized gains	2,310	3,568
Available-for-sale securities at fair value	431,861	434,303
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities at cost	8,349,010	8,830,403
Securities, gross unrealized gains	789,796	891,285
Securities, gross unrealized losses	22,399	31,932
Fixed maturity available-for-sale securities - fair value	9,116,407	9,689,756
Securities, gross unrealized gains	789,796	891,285
Available-for-sale securities at fair value	9,116,407	9,689,756
Residential Mortgage Backed Securities [Member]
Available-for-sale securities at cost	12,048	14,022
Securities, gross unrealized gains	14,482	14,420
Securities, gross unrealized losses	0	0
Fixed maturity available-for-sale securities - fair value	26,530	28,442
Securities, gross unrealized gains	14,482	14,420
Available-for-sale securities at fair value	26,530	28,442
Corporate Debt Securities [Member]
Available-for-sale securities at cost	112,390,476	106,387,417
Securities, gross unrealized gains	15,186,992	16,859,782
Securities, gross unrealized losses	35,230	111,840
Fixed maturity available-for-sale securities - fair value	127,542,238	123,135,359
Securities, gross unrealized gains	15,186,992	16,859,782
Available-for-sale securities at fair value	127,542,238	123,135,359
Asset-backed Securities [Member]
Available-for-sale securities at cost	1,763,144	2,052,174
Securities, gross unrealized gains	63,605	32,908
Securities, gross unrealized losses	4,447	47,813
Fixed maturity available-for-sale securities - fair value	1,822,302	2,037,269
Securities, gross unrealized gains	63,605	32,908
Available-for-sale securities at fair value	1,822,302	2,037,269
Exchange-traded Debt Securities [Member]
Available-for-sale securities at cost	500,644	500,000
Securities, gross unrealized gains	25,956	0
Securities, gross unrealized losses	0	200
Fixed maturity available-for-sale securities - fair value	526,600	499,800
Securities, gross unrealized gains	25,956	0
Available-for-sale securities at fair value	526,600	499,800
Debt Security, Government, Non-US [Member]
Available-for-sale securities at cost	29,113,581	29,616,259
Securities, gross unrealized gains	4,116,360	4,641,338
Securities, gross unrealized losses	11,747	59,230
Fixed maturity available-for-sale securities - fair value	33,218,194	34,198,367
Securities, gross unrealized gains	4,116,360	4,641,338
Available-for-sale securities at fair value	33,218,194	34,198,367
Certificates of Deposit [Member]
Available-for-sale securities at cost	400,000	600,000
Securities, gross unrealized gains	16,802	24,540
Securities, gross unrealized losses	0	0
Fixed maturity available-for-sale securities - fair value	416,802	624,540
Securities, gross unrealized gains	16,802	24,540
Available-for-sale securities at fair value	416,802	624,540
Debt Securities [Member]
Available-for-sale securities at cost	152,958,511	148,431,010
Securities, gross unrealized gains	20,216,303	22,467,841
Securities, gross unrealized losses	73,880	251,015
Fixed maturity available-for-sale securities - fair value	173,100,934	170,647,836
Securities, gross unrealized gains	20,216,303	22,467,841
Available-for-sale securities at fair value	173,100,934	170,647,836
Mutual Fund [Member]
Equity Securities, cost	91,981	91,981
Equity securities, gross unrealized gains	0	0
Equity Securities, gross unrealized losses	10,215	7,739
Equity securities	81,766	84,242
Common Stock [Member]
Equity Securities, cost	186,352	91,238
Equity securities, gross unrealized gains	51,589	27,523
Equity Securities, gross unrealized losses	0	0
Equity securities	237,941	118,761
Equity Securities [Member]
Equity Securities, cost	278,333	183,219
Equity securities, gross unrealized gains	51,589	27,523
Equity Securities, gross unrealized losses	10,215	7,739
Equity securities	319,707	$ 203,003
Preferred Stock [Member]
Available-for-sale securities at cost	1,250,000
Securities, gross unrealized gains	1,800
Securities, gross unrealized losses	0
Fixed maturity available-for-sale securities - fair value	1,251,800
Securities, gross unrealized gains	1,800
Available-for-sale securities at fair value	$ 1,251,800

Note 2 - Investments - Securiti

Note 2 - Investments - Securities in an Unrealized Loss Position (Details)	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Debt and equity securities in an unrealized loss position, fair value	$ 5,097,711	$ 5,037,948
Debt and equity securities in an unrealized loss position, unrealized loss	$ 84,095	$ 258,754
Debt and equity securities in an unrealized loss position, number	15	18
US Government Agencies Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 100,265
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 57
Securities in an unrealized loss position, less than twelve months, number	1
US States and Political Subdivisions Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value		$ 625,098
Securities in an unrealized loss position, less than twelve months, unrealized loss		$ 31,932
Securities in an unrealized loss position, less than twelve months, number		1
Securities in an unrealized loss position, more than twelve months, fair value	$ 630,978
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 22,399
Securities in an unrealized loss position, more than twelve months, number	1
Corporate Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 2,595,569	$ 878,716
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 6,632	$ 41,508
Securities in an unrealized loss position, less than twelve months, number	8	3
Securities in an unrealized loss position, more than twelve months, fair value	$ 774,644	$ 1,084,205
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 28,598	$ 70,332
Securities in an unrealized loss position, more than twelve months, number	2	3
Debt Security, Government, Non-US [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 550,630	$ 285,569
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 11,747	$ 28,282
Securities in an unrealized loss position, less than twelve months, number	1	4
Securities in an unrealized loss position, more than twelve months, fair value		$ 532,875
Securities in an unrealized loss position, more than twelve months, unrealized loss		$ 30,948
Securities in an unrealized loss position, more than twelve months, number		1
Asset-backed Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value		$ 1,047,443
Securities in an unrealized loss position, less than twelve months, unrealized loss		$ 47,813
Securities in an unrealized loss position, less than twelve months, number		3
Securities in an unrealized loss position, more than twelve months, fair value	$ 363,859
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 4,447
Securities in an unrealized loss position, more than twelve months, number	1
Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 3,246,464	$ 3,336,626
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 18,436	$ 149,735
Securities in an unrealized loss position, less than twelve months, number	10	13
Securities in an unrealized loss position, more than twelve months, fair value	$ 1,769,481	$ 1,617,080
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 55,444	$ 101,280
Securities in an unrealized loss position, more than twelve months, number	4	4
Securities in an unrealized loss position, fair value	$ 5,015,945	$ 4,953,706
Securities in an unrealized loss position, unrealized loss	$ 73,880	$ 251,015
Securities in an unrealized loss position, number	14	17
Exchange-traded Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value		$ 499,800
Securities in an unrealized loss position, less than twelve months, unrealized loss		$ 200
Securities in an unrealized loss position, less than twelve months, number		2
Equity Securities [Member]
Equity securities in an unrealized loss position, less than twelve months, fair value	$ 81,766	$ 84,242
Equity securities in an unrealized loss position, less than twelve months, unrealized loss	$ 10,215	$ 7,739
Equity securities in an unrealized loss position, less than twelve months, number	1	1

Note 2 - Investments - Net Unre

Note 2 - Investments - Net Unrealized Gains Included in Accumulated Other Comprehensive Income (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Unrealized appreciation on available-for-sale securities	$ 20,144,223	$ 22,216,826
Adjustment to deferred acquisition costs	(18,000)	(41,057)
Deferred income taxes	(4,226,507)	(4,656,911)
Net unrealized appreciation on available-for-sale securities	$ 15,899,716	$ 17,518,858

Note 2 - Investments - Fixed Ma

Note 2 - Investments - Fixed Maturity Available-for-sale Securities by Contractual Maturities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Fixed maturity available-for-sale securities - amortized cost	$ 1,250,000
Fixed maturity available-for-sale securities - fair value	1,251,800	$ 0
Fixed Maturities [Member]
Due in one year or less - amortized cost	3,503,378
Due in one year or less - fair value	3,538,257
Due in one year through five years - amortized cost	34,165,680
Due after one year through five years- fair value	36,397,719
Due after five years through ten years - amortized cost	40,665,433
Due after five years through ten years - fair value	45,431,053
Due after ten years - amortized cost	74,611,972
Due after ten years - fair value	87,707,376
Due at multiple maturity dates - amortized cost	12,048
Due at multiple maturity dates - fair value	26,529
Fixed maturity available-for-sale securities - amortized cost	152,958,511
Fixed maturity available-for-sale securities - fair value	173,100,934
Other Long-term Investments [Member]
Due in one year or less - amortized cost	11,949,329
Due in one year or less - fair value	12,194,405
Due in one year through five years - amortized cost	34,763,987
Due after one year through five years- fair value	39,296,880
Due after five years through ten years - amortized cost	15,349,969
Due after five years through ten years - fair value	20,526,749
Due after ten years - amortized cost	6,124,068
Due after ten years - fair value	11,720,675
Due at multiple maturity dates - amortized cost	0
Due at multiple maturity dates - fair value	0
Fixed maturity available-for-sale securities - amortized cost	68,187,353
Fixed maturity available-for-sale securities - fair value	$ 83,738,709

Note 2 - Investments - Proceeds

Note 2 - Investments - Proceeds and Gross Realized Gains (Losses) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fixed Maturities [Member]
Proceeds from sale, maturity, or collection of investments	$ 1,549,139	$ 6,162,777	$ 3,968,218	$ 11,713,764
Gross realized gains on sale of investments	66,349	281,178	130,499	346,487
Gross realized losses on sale of investments	(335)	(24,958)	(26,834)	(28,348)
Equity Securities [Member]
Proceeds from sale, maturity, or collection of investments	1	0	89	0
Gross realized gains on sale of investments	0	0	89	0
Gross realized losses on sale of investments	0	0	0	0
Real Estate Investment [Member]
Proceeds from sale, maturity, or collection of investments	75,940	682,945	75,940	682,945
Gross realized gains on sale of investments	6,349	33,696	6,349	33,696
Gross realized losses on sale of investments	0	0	0	0
Mortgages [Member]
Proceeds from sale, maturity, or collection of investments	53,161,263	18,649,805	53,161,263	32,894,590
Gross realized gains on sale of investments	38,670	108,099	38,670	108,099
Gross realized losses on sale of investments	$ 0	$ 0	$ 0	$ 0

Note 2 - Investments - Major Ca

Note 2 - Investments - Major Categories of Net Investment Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Change in unrealized investment gains (losses)	$ 3,703,899	$ 12,343,252	$ (1,637,357)	$ 1,889,031
Gross Investment income	6,528,191	6,934,945	13,320,123	13,854,119
Investment expenses	(455,689)	(1,058,872)	(1,098,779)	(1,708,203)
Net investment income	6,072,502	5,876,073	12,221,344	12,145,916
Fixed Maturities [Member]
Change in unrealized investment gains (losses)	4,686,679	15,623,530	(2,074,403)	2,392,639
Net realized investment gains (losses)	66,014	256,220	103,665	318,139
Gross Investment income	1,727,496	1,674,340	3,423,390	3,512,722
Equity Securities [Member]
Equity securities, sale of securities	0	0	89	0
Equity securities, changes in fair value	7,235	12,365	21,590	(26,052)
Gross Investment income	26,405	23,746	43,404	56,069
Preferred Stock [Member]
Change in unrealized investment gains (losses)	1,800	840	1,800	(1,460)
Other Long-term Investments [Member]
Gross Investment income	1,222,180	1,304,285	2,505,074	2,651,423
Mortgages [Member]
Net realized investment gains (losses)	38,670	108,099	38,670	108,099
Gross Investment income	3,478,075	3,796,491	7,226,307	7,366,896
Policy Loans [Member]
Gross Investment income	38,957	38,122	77,575	75,829
Real Estate Investment [Member]
Net realized investment gains (losses)	6,349	33,696	6,349	33,696
Gross Investment income	0	68,681	0	137,363
Short-term Investments [Member]
Gross Investment income	$ 35,078	$ 29,280	$ 44,373	$ 53,817

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans on Real Estate (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 169,710,121	$ 174,909,062
Residential Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	159,917,212	163,906,373
Commercial Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	9,792,909	11,002,689
Commercial Portfolio Segment [Member] | Industrial Property [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	653,367	670,708
Commercial Portfolio Segment [Member] | Apartment Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	1,588,189	0
Commercial Portfolio Segment [Member] | Hotel [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	284,281	290,889
Commercial Portfolio Segment [Member] | Office Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	3,902,583	4,596,331
Commercial Portfolio Segment [Member] | Retail Site [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 3,364,489	$ 5,444,761

Note 2 - Investments - Investme

Note 2 - Investments - Investment Real Estate (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2020
Investment real estate, net	$ 1,146,932	$ 757,936
Land Held for Sale [Member]
Investment real estate	540,436	540,436
Land [Member]
Investment real estate	540,436	540,436
Residential Real Estate - Held for Sale [Member]
Investment real estate	606,496	217,500
Residential [Member]
Investment real estate	$ 606,496	$ 217,500

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurements (Details Textual)	Jun. 30, 2021	Dec. 31, 2020
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, 2021	Dec. 31, 2020
Fixed maturity available-for-sale securities - fair value	$ 1,251,800	$ 0
Fair Value, Recurring [Member]
Equity securities	319,707	203,003
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Equity securities	181,744	51,629
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Equity securities	81,766	84,242
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Equity securities	56,197	67,132
US Treasury and Government [Member]
Fixed maturity available-for-sale securities - fair value	431,861	434,303
US Treasury and Government [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	431,861	434,303
US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	431,861	434,303
US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
US States and Political Subdivisions Debt Securities [Member]
Fixed maturity available-for-sale securities - fair value	9,116,407	9,689,756
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	9,116,407	9,689,756
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	9,116,407	9,689,756
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Residential Mortgage Backed Securities [Member]
Fixed maturity available-for-sale securities - fair value	26,530	28,442
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	26,530	28,442
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	26,530	28,442
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Corporate Debt Securities [Member]
Fixed maturity available-for-sale securities - fair value	127,542,238	123,135,359
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	127,542,238	123,135,359
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	127,542,238	123,135,359
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Asset-backed Securities [Member]
Fixed maturity available-for-sale securities - fair value	1,822,302	2,037,269
Asset-backed Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	1,822,302	2,037,269
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	1,822,302	2,037,269
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Exchange-traded Debt Securities [Member]
Fixed maturity available-for-sale securities - fair value	526,600	499,800
Exchange-traded Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	526,600	499,800
Exchange-traded Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Exchange-traded Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	526,600	499,800
Exchange-traded Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Security, Government, Non-US [Member]
Fixed maturity available-for-sale securities - fair value	33,218,194	34,198,367
Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	33,218,194	34,198,367
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	33,218,194	34,198,367
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0
Certificates of Deposit [Member]
Fixed maturity available-for-sale securities - fair value	416,802	624,540
Certificates of Deposit [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	416,802	624,540
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	416,802	624,540
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Securities [Member]
Fixed maturity available-for-sale securities - fair value	173,100,934	170,647,836
Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	173,100,934	170,647,836
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	173,100,934	170,647,836
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Preferred Stock [Member]
Fixed maturity available-for-sale securities - fair value	1,251,800
Preferred Stock [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	1,251,800
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	1,251,800
Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0
Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0
Mutual Fund [Member]
Equity securities	81,766	84,242
Mutual Fund [Member] | Fair Value, Recurring [Member]
Equity securities	81,766	84,242
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Equity securities	0	0
Mutual Fund [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Equity securities	81,766	84,242
Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Equity securities	0	0
Common Stock [Member]
Equity securities	237,941	118,761
Common Stock [Member] | Fair Value, Recurring [Member]
Equity securities	237,941	118,761
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Equity securities	181,744	51,629
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Equity securities	0	0
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Equity securities	$ 56,197	$ 67,132

Note 3 - Fair Value Measureme_5

Note 3 - Fair Value Measurements - Change in Fair Value of Available-for-sale Equity Securities (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Beginning balance	$ 67,133	$ 64,107
Joint venture net income	39,118	47,963
Joint venture distribution	(50,054)	(49,933)
Ending balance	$ 56,197	$ 62,137

Note 3 - Fair Value Measureme_6

Note 3 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Policy loans	$ 2,134,919	$ 2,108,678
Accrued investment income	5,105,328	5,370,508
Policy claims	1,760,189	2,099,548
Reported Value Measurement [Member]
Policy loans	2,134,919	2,108,678
Short-term investments	2,851,073	3,309,020
Other long-term investments	68,187,353	71,025,133
Cash and cash equivalents	55,199,237	40,230,095
Accrued investment income	5,105,328	5,370,508
Total financial assets	303,188,031	296,952,496
Policyholders' account balances	374,177,380	362,519,753
Policy claims	1,760,189	2,099,548
Total financial liabilities	375,937,569	364,619,301
Reported Value Measurement [Member] | Commercial and Industrial [Member]
Mortgage loans on real estate	9,792,909
Reported Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate		11,002,689
Reported Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	159,917,212	163,906,373
Estimate of Fair Value Measurement [Member]
Policy loans	2,134,919	2,108,678
Short-term investments	2,851,073	3,309,020
Other long-term investments	83,738,709	89,264,246
Cash and cash equivalents	55,199,237	40,230,095
Accrued investment income	5,105,328	5,370,508
Total financial assets	338,211,066	336,170,946
Policyholders' account balances	380,368,117	380,666,901
Policy claims	1,760,189	2,099,548
Total financial liabilities	382,128,306	382,766,449
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Policy loans	0	0
Short-term investments	2,851,073	3,309,020
Other long-term investments	0	0
Cash and cash equivalents	55,199,237	40,230,095
Accrued investment income	0	0
Total financial assets	58,050,310	43,539,115
Policyholders' account balances	0	0
Policy claims	0	0
Total financial liabilities	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Policy loans	0	0
Short-term investments	0	0
Other long-term investments	0	0
Cash and cash equivalents	0	0
Accrued investment income	0	0
Total financial assets	0	0
Policyholders' account balances	0	0
Policy claims	0	0
Total financial liabilities	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Policy loans	2,134,919	2,108,678
Short-term investments	0	0
Other long-term investments	83,738,709	89,264,246
Cash and cash equivalents	0	0
Accrued investment income	5,105,328	5,370,508
Total financial assets	280,160,756	292,631,831
Policyholders' account balances	380,368,117	380,666,901
Policy claims	1,760,189	2,099,548
Total financial liabilities	382,128,306	382,766,449
Estimate of Fair Value Measurement [Member] | Commercial and Industrial [Member]
Mortgage loans on real estate	9,905,493
Estimate of Fair Value Measurement [Member] | Commercial and Industrial [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage loans on real estate	0
Estimate of Fair Value Measurement [Member] | Commercial and Industrial [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage loans on real estate	0
Estimate of Fair Value Measurement [Member] | Commercial and Industrial [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage loans on real estate	9,905,493
Estimate of Fair Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate		11,085,406
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage loans on real estate		0
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage loans on real estate		0
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage loans on real estate		11,085,406
Estimate of Fair Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	179,276,307	184,802,993
Estimate of Fair Value Measurement [Member] | Residential [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage loans on real estate	0	0
Estimate of Fair Value Measurement [Member] | Residential [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage loans on real estate	0	0
Estimate of Fair Value Measurement [Member] | Residential [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage loans on real estate	$ 179,276,307	$ 184,802,993

Note 4 - Segment Data - Segment

Note 4 - Segment Data - Segment Data - Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Total revenue	$ 14,197,371	$ 12,838,079	$ 27,489,945	$ 25,521,585
Income before income taxes	1,587,146	611,383	1,067,702	1,627,767
Depreciation and amortization expense	1,840,313	1,438,477	3,709,867	2,773,214
Life Insurance Operations [Member]
Total revenue	9,026,587	7,517,213	17,063,471	14,842,681
Income before income taxes	827,254	(400,643)	(114,755)	(336,239)
Depreciation and amortization expense	1,541,698	1,151,910	3,082,892	2,184,297
Annuity Operations [Member]
Total revenue	4,982,940	5,129,076	10,024,471	10,349,328
Income before income taxes	735,409	799,259	1,259,939	1,711,177
Depreciation and amortization expense	298,615	286,567	626,975	588,917
Corporate Segment [Member]
Total revenue	187,844	191,790	402,003	329,576
Income before income taxes	$ 24,483	$ 212,767	$ (77,482)	$ 252,829

Note 4 - Segment Data - Assets

Note 4 - Segment Data - Assets (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Total assets	$ 653,161,307	$ 643,595,269
Life Insurance Operations [Member]
Total assets	123,593,451	120,484,734
Annuity Operations [Member]
Total assets	524,931,681	518,257,307
Corporate Segment [Member]
Total assets	$ 4,636,175	$ 4,853,228

Note 5 - Federal Income Taxes (

Note 5 - Federal Income Taxes (Details Textual)	6 Months Ended
	Jun. 30, 2021
Domestic Tax Authority [Member]
Open Tax Year	2017 2018 2019

Note 6 - Legal Matters and Co_2

Note 6 - Legal Matters and Contingent Liabilities (Details Textual) - Case No. CJ-2013-03385 [Member] - Mr. Pettigrew [Member]	Feb. 17, 2017USD ($)
First Trinity Financial Corporation [Member]
Loss Contingency, Damages Awarded, Value	$ 800,000
Mr. Zahn [Member]
Loss Contingency, Damages Awarded, Value	$ 3,500,000

Note 7 - Line of Credit (Detail

Note 7 - Line of Credit (Details Textual) - Line of Credit [Member] - USD ($) $ in Thousands	Sep. 25, 2020	Sep. 25, 2020	Jun. 30, 2021	Dec. 31, 2020
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,500	$ 1,500
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	1.00%
Long-term Line of Credit, Total			$ 0	$ 0
Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.50%	4.50%
Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%

Note 8 - Other Comprehensive _3

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Balance	$ 64,062,730	$ 49,516,802	$ 69,852,212	$ 57,418,262
Total other comprehensive income (loss)	3,709,688	12,318,231	(1,619,142)	1,881,275
Balance	68,993,461	61,923,895	68,993,461	61,923,895
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Balance	12,210,023	(821,898)	17,551,279	9,632,323
Other comprehensive income (loss) before reclassifications, net of tax	3,756,050	12,545,666	(1,555,462)	2,140,361
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	52,151	202,414	81,895	251,330
Total other comprehensive income (loss)	3,703,899	12,343,252	(1,637,357)	1,889,031
Balance	15,913,922	11,521,354	15,913,922	11,521,354
Adjustment to Deferred Acquisition Costs [Member]
Balance	(19,995)	1,602	(32,421)	(15,663)
Other comprehensive income (loss) before reclassifications, net of tax	5,789	(25,021)	18,215	(7,756)
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	0	0	0	0
Total other comprehensive income (loss)	5,789	(25,021)	18,215	(7,756)
Balance	(14,206)	(23,419)	(14,206)	(23,419)
AOCI Attributable to Parent [Member]
Balance	12,190,028	(820,296)	17,518,858	9,616,660
Other comprehensive income (loss) before reclassifications, net of tax	3,761,839	12,520,645	(1,537,247)	2,132,605
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	52,151	202,414	81,895	251,330
Total other comprehensive income (loss)	3,709,688	12,318,231	(1,619,142)	1,881,275
Balance	$ 15,899,716	$ 11,497,935	$ 15,899,716	$ 11,497,935

Note 8 - Other Comprehensive _4

Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Unrealized holding gains (losses) arising during the period, pretax		$ 4,754,493	$ 15,880,590	$ (1,968,938)	$ 2,709,318
Unrealized holding gains (losses) arising during the period, income tax expense (benefit)		998,443	3,334,924	(413,476)	568,957
Unrealized holding gains (losses) arising during the period, net of tax		3,756,050	12,545,666	(1,555,462)	2,140,361
Realized gains (losses) on sales of securities	[1]	66,014	256,220	103,665	318,139
Income tax expense (benefit)	[2]	13,863	53,806	21,770	66,809
Reclassification adjustment for net gains included in operation having no credit losses, net of tax		52,151	202,414	81,895	251,330
Net unrealized gains (losses) on investments, pretax		4,688,479	15,624,370	(2,072,603)	2,391,179
Net unrealized gains (losses) on investments, income tax expense (benefit)		984,580	3,281,118	(435,246)	502,148
Net unrealized gains (losses) on investments, net of tax		3,703,899	12,343,252	(1,637,357)	1,889,031
Adjustment to deferred acquisition costs, pretax		7,328	(31,673)	23,057	(9,818)
Adjustment to deferred acquisition costs, income tax expense (benefit)		1,539	(6,652)	4,842	(2,062)
Adjustment to deferred acquisition costs, net of tax		5,789	(25,021)	18,215	(7,756)
Total other comprehensive income (loss), pretax		4,695,807	15,592,697	(2,049,546)	2,381,361
Total other comprehensive income (loss), income tax expense (benefit)		986,119	3,274,466	(430,404)	500,086
Total other comprehensive income (loss), net of tax		$ 3,709,688	$ 12,318,231	$ (1,619,142)	$ 1,881,275
[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 (Loss) (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Realized gains (losses) on sales of securities	[1]	$ 66,014	$ 256,220	$ 103,665	$ 318,139
Income tax expense (benefit)	[2]	13,863	53,806	21,770	66,809
Total reclassification adjustments		$ 52,151	$ 202,414	$ 81,895	$ 251,330
[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, 2021	Dec. 31, 2020	Jun. 30, 2020
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 169,710,121	$ 174,909,062
Financing Receivable, Collectively Evaluated for Impairment	88,341,681	107,880,342
Independent Mortgage Loan Balances [Member]
Financing Receivable, Allowance for Credit Loss, Ending Balance	443,928	541,894
One Loan Originator and Investments [Member] | Independent Mortgage Loan Balances [Member]
Escrow Deposit	848,457	766,667
Escrow Amount Available	441,615	431,523
Advances To Loan Originator	3,570,356	4,996,358
Residential Real Estate - Held for Sale [Member] | Independent Mortgage Loan Balances [Member]
Escrow Amount Available	406,842	335,144
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	81,368,440	$ 67,028,720
One Loan Originator [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net, Total	$ 81,368,440		$ 65,497,241

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Provision			$ (97,966)	$ 4,069
Financing Receivable, Collectively Evaluated for Impairment	$ 88,341,681		88,341,681		$ 107,880,342
Residential Portfolio Segment [Member]
Allowance, beginning	462,774	$ 435,413	486,604	443,057
Charge offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(68,056)	8,077	(91,886)	433
Allowance, ending	394,718	443,490	394,718	443,490
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	394,718	443,490	394,718	443,490
Individually evaluated for impairment	0	0	0	0
Financing Receivable, Collectively Evaluated for Impairment	78,548,772	88,304,680	78,548,772	88,304,680
Commercial Portfolio Segment [Member]
Allowance, beginning	48,406	68,105	55,290	62,321
Charge offs	0	0	0	0
Recoveries	0	0	0	0
Provision	804	(2,148)	(6,080)	3,636
Allowance, ending	49,210	65,957	49,210	65,957
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	49,210	65,957	49,210	65,957
Individually evaluated for impairment	0	0	0	0
Financing Receivable, Collectively Evaluated for Impairment	9,792,909	13,125,448	9,792,909	13,125,448
Premium Finance Loans [Member]
Allowance, beginning	511,180	503,518	541,894	505,378
Charge offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(67,252)	5,929	(97,966)	4,069
Allowance, ending	443,928	509,447	443,928	509,447
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	443,928	509,447	443,928	509,447
Individually evaluated for impairment	0	0	0	0
Financing Receivable, Collectively Evaluated for Impairment	$ 88,341,681	$ 101,430,128	$ 88,341,681	$ 101,430,128

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, 2021	Dec. 31, 2020
Mortgage loans on real estate	$ 169,710,121	$ 174,909,062
Loan to Value Range1 [Member]
Mortgage loans on real estate	56,416,732	53,905,657
Loan to Value Range 2 [Member]
Mortgage loans on real estate	44,411,710	52,361,170
Loan to Value Range 3 [Member]
Mortgage loans on real estate	28,956,532	29,885,098
Loan to Value Range 4 [Member]
Mortgage loans on real estate	16,700,773	14,661,818
Loan to Value Range 5 [Member]
Mortgage loans on real estate	9,592,225	9,022,725
Loan to Value Range 6 [Member]
Mortgage loans on real estate	10,329,242	8,312,906
Loan to Value Range 7 [Member]
Mortgage loans on real estate	2,877,953	5,772,222
Loan to Value Range 8 [Member]
Mortgage loans on real estate	424,954	987,466
Residential Portfolio Segment [Member]
Mortgage loans on real estate	159,917,212	163,906,373
Residential Portfolio Segment [Member] | Loan to Value Range1 [Member]
Mortgage loans on real estate	56,416,732	53,905,657
Residential Portfolio Segment [Member] | Loan to Value Range 2 [Member]
Mortgage loans on real estate	41,921,893	50,752,236
Residential Portfolio Segment [Member] | Loan to Value Range 3 [Member]
Mortgage loans on real estate	26,765,793	27,493,242
Residential Portfolio Segment [Member] | Loan to Value Range 4 [Member]
Mortgage loans on real estate	15,750,629	13,875,675
Residential Portfolio Segment [Member] | Loan to Value Range 5 [Member]
Mortgage loans on real estate	7,954,704	7,846,306
Residential Portfolio Segment [Member] | Loan to Value Range 6 [Member]
Mortgage loans on real estate	8,123,070	5,538,886
Residential Portfolio Segment [Member] | Loan to Value Range 7 [Member]
Mortgage loans on real estate	2,559,437	3,699,228
Residential Portfolio Segment [Member] | Loan to Value Range 8 [Member]
Mortgage loans on real estate	424,954	795,143
Commercial Portfolio Segment [Member]
Mortgage loans on real estate	9,792,909	11,002,689
Commercial Portfolio Segment [Member] | Loan to Value Range1 [Member]
Mortgage loans on real estate	0	0
Commercial Portfolio Segment [Member] | Loan to Value Range 2 [Member]
Mortgage loans on real estate	2,489,817	1,608,934
Commercial Portfolio Segment [Member] | Loan to Value Range 3 [Member]
Mortgage loans on real estate	2,190,739	2,391,856
Commercial Portfolio Segment [Member] | Loan to Value Range 4 [Member]
Mortgage loans on real estate	950,144	786,143
Commercial Portfolio Segment [Member] | Loan to Value Range 5 [Member]
Mortgage loans on real estate	1,637,521	1,176,419
Commercial Portfolio Segment [Member] | Loan to Value Range 6 [Member]
Mortgage loans on real estate	2,206,172	2,774,020
Commercial Portfolio Segment [Member] | Loan to Value Range 7 [Member]
Mortgage loans on real estate	318,516	2,072,994
Commercial Portfolio Segment [Member] | Loan to Value Range 8 [Member]
Mortgage loans on real estate	$ 0	$ 192,323

Note 10 - Coinsurance (Details

Note 10 - Coinsurance (Details Textual)	Jun. 30, 2021	Apr. 01, 2020	Jan. 01, 2018
Percent Ceded		0.00%	90.00%
Additional Percentage of Assets in Trust above Required Annuity Reserve	4.00%