First Trinity Financial (FTFC) 10-Q 15 May 23 2023 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 08, 2023
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	Q1
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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		9,384,340

Consolidated Statements of Fina

Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Investments
Mortgage loans on real estate	$ 233,503,495	$ 242,314,128
Investment real estate	540,436	540,436
Policy loans	2,999,041	2,840,887
Short-term investments	2,076,730	1,860,578
Other long-term investments	70,594,795	67,500,783
Total investments	438,677,158	442,069,335
Cash and cash equivalents	55,332,570	33,542,725
Accrued investment income	5,877,937	5,580,175
Recoverable from reinsurers	10,896,297	11,102,875
Assets held in trust under coinsurance agreement
Mortgage loans on real estate	233,503,495	242,314,128
Short-term investments	2,076,730	1,860,578
Cash and cash equivalents	55,332,570	33,542,725
Agents' balances and due premiums	1,265,782	1,253,077
Deferred policy acquisition costs	57,896,894	56,183,785
Value of insurance business acquired	3,979,863	4,048,105
Other assets	21,443,795	20,050,191
Total assets	687,538,903	665,864,037
Policy liabilities
Policyholders' account balances	407,959,474	391,359,944
Future policy benefits	113,063,945	110,012,174
Policy claims	2,307,066	2,541,088
Other policy liabilities	241,224	146,217
Total policy liabilities	523,571,709	504,059,423
Funds withheld under coinsurance agreement	90,754,691	92,301,039
Deferred federal income taxes	3,519,145	2,677,411
Other liabilities	14,186,359	15,173,652
Total liabilities	632,031,904	614,211,525
Shareholders' equity
Additional paid-in capital	43,668,023	43,668,023
Treasury stock, at cost (247,580 shares as of March 31, 2023 and December 31, 2022)	(893,947)	(893,947)
Accumulated other comprehensive loss	(11,250,252)	(14,319,679)
Accumulated earnings	23,885,845	23,100,785
Total shareholders' equity	55,506,999	51,652,512
Total liabilities and shareholders' equity	687,538,903	665,864,037
Common Class A [Member]
Shareholders' equity
Common stock	96,319	96,319
Common Class B [Member]
Shareholders' equity
Common stock	1,011	1,011
Trinity Life Insurance Company [Member]
Investments
Mortgage loans on real estate	26,791,487	31,028,575
Short-term investments	1,360,136	982,404
Cash and cash equivalents	4,809,942	3,813,750
Assets held in trust under coinsurance agreement
Mortgage loans on real estate	26,791,487	31,028,575
Short-term investments	1,360,136	982,404
Cash and cash equivalents	4,809,942	3,813,750
Total assets held in trust under coinsurance agreement	92,168,607	92,033,769
Debt Securities [Member]
Investments
Available-for-sale fixed maturity securities at fair value	128,565,745	126,612,890
Assets held in trust under coinsurance agreement
Available-for-sale fixed maturity securities at fair value	128,565,745	126,612,890
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Investments
Available-for-sale fixed maturity securities at fair value	59,207,042	56,209,040
Assets held in trust under coinsurance agreement
Available-for-sale fixed maturity securities at fair value	59,207,042	56,209,040
Equity Securities [Member]
Investments
Equity securities at fair value (cost: $279,620 and $276,131 as of March 31, 2023 and December 31, 2022, respectively)	$ 396,916	$ 399,633

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
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)	9,631,920	9,631,920
Common stock, shares outstanding (in shares)	9,384,340	9,384,340
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	$ 142,810,570	$ 144,744,158
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Available-for-sale securities at cost	65,590,213	63,649,991
Equity Securities [Member]
Equity securities, cost	$ 279,620	$ 276,131

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Premiums	$ 9,108,309	$ 8,228,782
Net investment income	7,627,816	6,448,995
Net realized investment gains (losses)	(31,451)	1,237,806
Service fees	982,848	57,540
Other income	419	58,497
Total revenues	17,687,941	16,031,620
Benefits and claims
Increase in future policy benefits	3,287,664	3,214,973
Death benefits	3,953,162	4,006,240
Surrenders	432,866	315,390
Interest credited to policyholders	3,616,106	3,176,136
Dividend, endowment and supplementary life contract benefits	81,272	76,797
Total benefits and claims	11,371,070	10,789,536
Policy acquisition costs deferred	(3,735,611)	(2,852,880)
Amortization of deferred policy acquisition costs	2,021,411	1,368,983
Amortization of value of insurance business acquired	68,242	72,209
Commissions	3,560,008	2,661,129
Other underwriting, insurance and acquisition expenses	3,154,894	2,863,084
Total expenses	5,068,944	4,112,525
Total benefits, claims and expenses	16,440,014	14,902,061
Income before total federal income tax expense	1,247,927	1,129,559
Current federal income tax expense	145,873	8,270
Deferred federal income tax expense	86,958	208,754
Total federal income tax expense	232,831	217,024
Net income	$ 1,015,096	$ 912,535
Common Class A [Member]
Net income per common share
Common stock (in dollars per share)	$ 0.1072	$ 0.0964
Common Class B [Member]
Net income per common share
Common stock (in dollars per share)	$ 0.0911	$ 0.0819

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Net income		$ 1,015,096	$ 912,535
Other comprehensive income (loss)
Total net unrealized gains (losses) arising during the period		3,576,936	(15,355,711)
Less net realized investment gains (losses) having no credit losses	[1]	(18,322)	1,224,075
Net unrealized gains (losses)		3,595,258	(16,579,786)
Less adjustment to deferred acquisition costs		1,091	(6,913)
Other comprehensive income (loss) before income tax expense (benefit)		3,594,167	(16,572,873)
Income tax expense (benefit)		754,776	(3,480,303)
Total other comprehensive income (loss)		2,839,391	(13,092,570)
Total comprehensive income (loss)		$ 3,854,487	$ (12,180,035)
[1]These items appear within net realized investment gains in the consolidated statements of operations.

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] Common Class A [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] Common Class B [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Treasury Stock, Common [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Common Stock [Member] Common Class A [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Common Stock [Member] Common Class B [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Treasury Stock, Common [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021															$ 89,093	$ 1,011	$ 39,078,485	$ (893,947)	$ 13,203,827	$ 16,916,082	$ 68,394,551
Net income															0	0	0	0	0	912,535	912,535
Other comprehensive income (loss)															$ 0	0	0	0	(13,092,570)	0	(13,092,570)
Acquisition of Royalty Capital Life Insurance Company (in shares)															7,226
Acquisition of Royalty Capital Life Insurance Company																	4,589,538				4,596,764
Balance at Mar. 31, 2022															$ 96,319	1,011	43,668,023	(893,947)	111,257	17,828,617	60,811,280
Balance at Dec. 31, 2022	$ 0	$ 0	$ 0	$ 0	$ 230,036	$ (230,036)	$ 0	$ 96,319	$ 1,011	$ 43,668,023	$ (893,947)	$ (14,089,643)	$ 22,870,749	$ 51,652,512	96,319	1,011	43,668,023	(893,947)	(14,319,679)	23,100,785	51,652,512
Net income															0	0	0	0	0	1,015,096	1,015,096
Other comprehensive income (loss)															0	0	0	0	2,839,391	0	2,839,391
Balance at Mar. 31, 2023															$ 96,319	$ 1,011	$ 43,668,023	$ (893,947)	$ (11,250,252)	$ 23,885,845	$ 55,506,999

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Operating activities
Net income	$ 1,015,096	$ 912,535
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of discount on investments	(1,234,765)	(1,205,756)
Net realized investment (gains) losses	31,451	(1,237,806)
Amortization of policy acquisition cost	2,021,411	1,368,983
Policy acquisition costs deferred	(3,735,611)	(2,852,880)
Amortization of value of insurance business acquired	68,242	72,209
Allowance for mortgage loan losses	(34,282)	83,700
Provision for deferred federal income tax expense	86,958	208,754
Interest credited to policyholders	3,616,106	3,176,136
Change in assets and liabilities:
Accrued investment income	(297,762)	81,134
Recoverable from reinsurers	206,578	(37,547)
Assets held in trust under coinsurance agreement	1,813,341	1,282,160
Agents' balances and due premiums	(12,705)	223,010
Other assets	(1,393,604)	(116,125)
Future policy benefits	3,051,771	3,172,111
Policy claims	(234,022)	985,341
Other policy liabilities	95,007	90,378
Other liabilities (exclude change in payable for securities purchased of $757,048 and $1,154,808 in 2023 and 2022, respectively)	(1,744,341)	(4,059,518)
Net cash provided by operating activities	3,318,869	2,146,819
Investing activities
Maturities of fixed maturity securities	355,000	550,000
Sales of fixed maturity securities	1,428,450	30,399,960
Purchases of equity securities	(27,056)	(43,414)
Acquisition of Royalty Capital Life Insurance Company	0	3,525,749
Joint venture distribution	23,567	30,522
Purchases of mortgage loans	(30,763,562)	(32,447,546)
Payments on mortgage loans	39,540,138	18,291,543
Purchases of other long-term investments	(5,444,219)	(2,671,200)
Payments on other long-term investments	3,710,613	4,686,815
Sale of real estate	0	49,371
Policy loans	(158,154)	(99,162)
Short-term investments	(216,152)	29,993
Net cash provided by (used in) investing activities	8,982,079	(3,309,661)
Financing activities
Policyholders' account deposits	32,734,475	5,912,187
Policyholders' account withdrawals	(23,245,578)	(15,909,047)
Net cash provided by (used in) financing activities	9,488,897	(9,996,860)
Increase (decrease) in cash and cash equivalents	21,789,845	(11,159,702)
Cash and cash equivalents, beginning of period	33,542,725	42,528,046	$ 42,528,046
Cash and cash equivalents, end of period	55,332,570	31,368,344	$ 33,542,725
Receivables Excluding Policy Loan Receivables [Member]
Investing activities
Net change in receivable and payable for securities sold and purchased	757,048	1,154,808
Debt Securities [Member]
Investing activities
Purchases of fixed maturity securities	$ (223,594)	$ (26,767,100)

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Change in payable of securities purchased	$ 757,048	$ 1,154,808

Supplemental Disclosure - Cash

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	First Trinity Financial Corporation and Subsidiaries Consolidated Statements of Cash Flows (continued) Supplemental Disclosure – Cash and Non-Cash Impact on Operating, Investing and Financing Activities On January 4, 2022, In conjunction with this 2022 March 31, 2022 Cash used in acquisition of Royalty Capital Life Insurance Company $ - Cash provided in acquisition of Royalty Capital Life Insurance Company 3,525,749 Increase in cash from acquisition of Royalty Capital Life Insurance Company 3,525,749 Fair value of assets acquired in acquisition of Royalty Capital Life Insurance Company (excluding cash) Short-term investments 1,586,667 Recoverable from reinsurers 10,634,753 Accrued investment income 8 Due premiums 25,187 Other assets 6,000 Total fair value of assets acquired (excluding cash) 12,252,615 Fair value of liabilities assumed in acquisition of Royalty Capital Life Insurance Company Future policy benefits 8,102,093 Policyholders' account balance 3,019,610 Policy claims 51,392 Other liabilities 8,505 Total fair value of liabilities assumed 11,181,600 Fair value of net assets acquired in acquisition of Royalty Capital Life Insurance Company (excluding cash) 1,071,015 Fair value of net assets acquired in acquisition of Royalty Capital Life Insurance Company (including cash) $ 4,596,764 See notes to consolidated financial statements (unaudited).

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
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”) 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. 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 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. 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, On January 4, 2022, March 1, 2022, Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10 10 X. not The results of operations for the three March 31, 2023 not December 31, 2023 not 10 December 31, 2022. Change in Significant Accounting Policies Investments and Allowance for Loan Losses from Mortgage Loans In first 2023, 2016 13 Financial Instruments Credit Losses: Measurement of Credit Losses on Financial Instruments Fixed maturity securities comprised of bonds and redeemable preferred securities are classified as available-for-sale and are carried at fair value with unrealized gains and losses, net of applicable income taxes, reported in accumulated other comprehensive income. The amortized cost of fixed maturity securities available-for-sale is adjusted for amortization of premium and accretion of discount to maturity. Interest income on fixed maturity securities, as well as the related amortization of premium and accretion of discount, is included in net investment income under the effective yield method. Dividend income on redeemable preferred securities are recognized in net investment income when declared. The amortized cost of fixed maturity securities available-for-sale are written down to fair value when a decline in value is considered to be other-than-temporary. The Company evaluates the difference between the cost or amortized cost and estimated fair value of its fixed maturity securities to determine whether any decline in value is the result of a credit loss or other factors. An allowance for credit losses is recorded against available-for-sale securities to reflect the amount of an unrealized loss attributed to credit. This impairment is limited by the amount that the fair value is less than the amortized cost basis. Any remaining unrealized loss is recognized in other comprehensive income (loss) with no The assessment and determination of whether or not may If the Company intends to sell the fixed maturity security or will be more likely than not Prior to 2023, no Equity securities are comprised of mutual funds and common stocks and are carried at fair value. The associated unrealized gains and losses are included in net realized investment gains (losses). Dividends from these investments are recognized in net investment income when declared. Mortgage loans are carried at unpaid balances, net of unamortized premium or discounts. This measurement of mortgage loans on an amortized cost basis is reduced by an allowance for credit losses representing a valuation allowance that is deducted from the amortized costs basis of mortgage loans to present the net carrying value at the amount expected to be collected on the mortgage loans. Interest income and the amortization of premiums or discounts are included in net investment income. Mortgage loan fees, certain direct loan origination costs, and purchase premiums and discounts on loans are recognized as an adjustment of yield by the interest method based on the contractual terms of the loan. In certain circumstances, prepayments may The statement of operations reflects the measurement of credit losses for newly recognized mortgage loans as well as the expected increases or decreases of expected credit losses that have taken place during the period. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported mortgage loan balances. The Company uses judgment in determining the relevant information and estimation methods that are appropriate in establishing the valuation allowance for credit losses. The allowance for credit losses for mortgage loans with a more-than-insignificant amount of credit determination since origination is determined and the initial allowance for credit losses should be added to the purchase price of mortgage loans rather than being reported as a credit loss expenses. The Company, however, has established and will continue to establish a valuation allowance for mortgage loans on real estate that are not not not not not 2023. Prior to and continuing in 2023, not While the Company utilizes its best judgment and information available, the ultimate adequacy of this allowance is dependent upon a variety of factors beyond our control, including the performance of the residential and commercial mortgage loan portfolio, the economy and changes in interest rates. The 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 The Company considers mortgage loans on real estate 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. Impairment is measured on a loan-by-loan basis. Factors that the Company considers 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 on real estate 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. Investment real estate in land held for both the production of income and for sale is carried at cost. Investment real estate obtained through foreclosure on mortgage loans on real estate is carried at the lower of acquisition cost or net realizable value. Policy loans are carried at unpaid principal balances. Interest income on policy loans is recognized in net investment income at the contract interest rate when earned. Other long-term investments are comprised of lottery prize receivables and are carried at amortized cost. Interest income and the accretion of discount are included in net investment income. These investments are backed by the lottery departments at the various states by U.S. Treasury Bonds and Notes or in the case of Pennsylvania, by annuities purchased from a highly rated life insurance company. Given this support to lottery prize receivables, the Company has not not 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 and Treasury Stock Class A and Class B common stock are both fully paid, non-assessable and has a par value of $.01 one one may one .85 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 Coinsurance In accordance with an annuity coinsurance agreement with an offshore annuity and life insurance company, 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 In addition, in accordance with this annuity coinsurance agreement, investment income, investment expenses, other income and other expenses earned or incurred in relation to the operations of this annuity coinsurance agreement are not Consolidated Statements of Operations not Consolidated Statements of Financial Position no not Consolidated Statement of Comprehensive Income (Loss) The Company’s Consolidated Statement of Cash Flows one not Subsequent Events Management has evaluated all events subsequent to March 31, 2023 On April 24, 2023, 777 fourth 2023. On April 24, 2023, Adopted Accounting Standards Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13 The estimate of expected credit losses considers historical information, current information, as well as reasonable and supportable forecasts, including estimates of prepayments. The expected credit losses, and subsequent adjustments to such losses, are 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 amended the current other-than-temporary impairment model for available-for-sale debt securities and requires 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 first 2023 January 1, 2023 Troubled Debt Restructurings and Vintage Disclosures In March 2022, 2022 2 first 2023. not Recent Accounting Pronouncements 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 2025 Transition for Sold Contracts In December 2022, 2022 5 2018 12 2018 12 no may not The amendments in this guidance are effective for fiscal years beginning after December 15, 2024. not 2025

Note 2 - Investments

Note 2 - Investments	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	2. Investments in fixed maturity available-for-sale securities as of March 31, 2023 December 31, 2022 Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value March 31, 2023 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 2,122,503 $ 2,340 $ 31,172 $ 2,093,671 States and political subdivisions 4,844,056 4,401 306,206 4,542,251 Commercial mortgage-backed securities 10,611,636 - 2,194,811 8,416,825 Residential mortgage-backed securities 10,355 4,095 - 14,450 Corporate bonds 86,660,410 56,882 7,826,359 78,890,933 Asset-backed securities 9,419,078 - 1,243,126 8,175,952 Exchange traded securities 724,639 - 252,639 472,000 Foreign bonds 26,967,893 - 2,304,582 24,663,311 Redeemable preferred securities 1,250,000 - 152,800 1,097,200 Certificate of deposits 200,000 - 848 199,152 Total fixed maturity securities $ 142,810,570 $ 67,718 $ 14,312,543 $ 128,565,745 Fixed maturity securities held in trust under coinsurance agreement $ 65,590,213 $ 17,996 $ 6,401,167 $ 59,207,042 December 31, 2022 Fixed maturity securities U.S. government and U.S. government agencies $ 2,097,558 $ - $ 42,993 $ 2,054,565 States and political subdivisions 4,966,770 2,268 408,717 4,560,321 Commercial mortgage-backed securities 10,608,213 - 2,274,575 8,333,638 Residential mortgage-backed securities 10,550 4,700 - 15,250 Corporate bonds 88,394,563 35,464 10,317,890 78,112,137 Asset-backed securities 9,538,593 - 1,539,164 7,999,429 Exchange traded securities 682,280 - 215,080 467,200 Foreign bonds 26,995,631 - 3,225,551 23,770,080 Redeemable preferred securities 1,250,000 - 148,800 1,101,200 Certificate of deposits 200,000 - 930 199,070 Total fixed maturity securities $ 144,744,158 $ 42,432 $ 18,173,700 $ 126,612,890 Fixed maturity securities held in trust under coinsurance agreement $ 63,649,991 $ 8,224 $ 7,449,175 $ 56,209,040 All securities in an unrealized loss position as of the financial statement dates, the estimated fair value, pre-tax gross unrealized loss and number of securities by length of time that those securities have been continuously in an unrealized loss position as of March 31, 2023 December 31, 2022 Unrealized Number of Fair Value Loss Securities March 31, 2023 (Unaudited) Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 1,770,942 $ 26,771 2 States and political subdivisions 3,077,144 168,890 17 Commercial mortgage-backed securities 658,413 31,625 1 Corporate bonds 48,878,760 3,038,922 146 Asset-backed securities 1,701,234 126,025 4 Foreign bonds 12,860,020 639,371 38 Certificate of deposits 199,152 848 1 Total less than 12 months in an unrealized loss position 69,145,665 4,032,452 209 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 95,719 4,401 1 States and political subdivisions 994,253 137,316 5 Commercial mortgage-backed securities 7,758,412 2,163,186 23 Corporate bonds 28,049,651 4,787,437 88 Asset-backed securities 6,474,718 1,117,101 17 Exchange traded securities 472,000 252,639 2 Foreign bonds 11,803,291 1,665,211 28 Redeemable preferred securities 347,200 152,800 2 Total more than 12 months in an unrealized loss position 55,995,244 10,280,091 166 Total fixed maturity securities in an unrealized loss position $ 125,140,909 $ 14,312,543 375 Fixed maturity securities held in trust under coisnurance agreement Total less than 12 months in an unrealized loss position $ 30,648,923 $ 1,154,233 144 Total more than 12 months in an unrealized loss position 26,763,821 5,246,934 104 Total fixed maturity securities held in trust under coinsurance agreement in a unrealized loss position $ 57,412,744 $ 6,401,167 248 December 31, 2022 Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 1,760,073 $ 37,231 2 States and political subdivisions 3,325,252 301,788 20 Commercial mortgage-backed securities 5,863,255 1,387,792 17 Corporate bonds 69,451,263 8,733,104 216 Asset-backed securities 5,042,586 890,318 12 Certificate of deposits 199,070 930 1 Foreign bonds 21,766,704 2,785,419 61 Total less than 12 months in an unrealized loss position 107,408,203 14,136,582 329 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 294,492 5,762 2 States and political subdivisions 766,424 106,929 3 Commercial mortgage-backed securities 2,470,383 886,783 7 Corporate bonds 6,314,364 1,584,786 20 Asset-backed securities 2,956,843 648,846 9 Exchange traded securities 467,200 215,080 2 Redeemable preferred securities 351,200 148,800 2 Foreign bonds 2,003,376 440,132 6 Total more than 12 months in an unrealized loss position 15,624,282 4,037,118 51 Total fixed maturity securities in an unrealized loss position $ 123,032,485 $ 18,173,700 380 Fixed maturity securities held in trust under coinsurance agreement Total less than 12 months in an unrealized loss position $ 49,918,808 $ 5,679,624 231 Total more than 12 months in an unrealized loss position 5,524,318 1,769,551 21 Total fixed maturity securities held in trust under coinsurance agreement in a unrealized loss position $ 55,443,126 $ 7,449,175 252 As of March 31, 2023, March 31, 2023. 375 As of December 31, 2022, December 31, 2022. 380 The change in the current estimate of credit losses on fixed maturity available-for -sale securities for the three March 31, 2023 (Unaudited) March 31, 2023 Beginning balance $ - Cumulative adjustment to accumulated earnings as of January 1, 2023 (291,185 ) Current estimate of credit losses (6,923 ) Ending balance $ (298,108 ) There were no three March 31, 2023. March 31, 2023, not not Net unrealized losses included in other comprehensive income (loss) for investments classified as available-for-sale, net of the effect of deferred income taxes and deferred acquisition costs assuming that the depreciation had been realized as of March 31, 2023 December 31, 2022, (Unaudited) March 31, 2023 December 31, 2022 Unrealized depreciation on available-for-sale securities $ (14,244,825 ) $ (18,131,268 ) Adjustment to deferred acquisition costs 4,000 5,091 Deferred income taxes 2,990,573 3,806,498 Net unrealized depreciation on available-for-sale securities $ (11,250,252 ) $ (14,319,679 ) Assets held in trust under coinsurance agreement Unrealized depreciation on fixed maturity securities available-for-sale $ (6,383,171 ) $ (7,440,951 ) The Company’s investment in lottery prize cash flows categorized as other long-term investments in the statement of financial position was $70,594,795 and $67,500,783 as of March 31, 2023 December 31, 2022, The amortized cost and fair value of fixed maturity available-for-sale securities and other long-term investments as of March 31, 2023, March 31, 2023 (Unaudited) Fixed Maturity Available-For-Sale Securities Other Long-Term Investments Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 2,349,611 $ 2,324,199 $ 14,618,209 $ 14,811,648 Due after one year through five years 23,650,812 22,399,366 37,699,223 40,549,037 Due after five years through ten years 22,538,034 21,486,336 12,809,244 15,183,494 Due after ten years 82,400,123 72,825,591 5,468,119 7,726,689 Due at multiple maturity dates 11,871,990 9,530,253 - - $ 142,810,570 $ 128,565,745 $ 70,594,795 $ 78,270,868 The amortized cost and fair value of fixed maturity available-for-sale securities held in trust under coinsurance agreement as of March 31, 2023, March 31, 2023 (Unaudited) Fixed Maturity Available-For-Sale Securities Amortized Cost Fair Value Due in one year or less $ 3,060,028 $ 3,039,412 Due after one year through five years 33,352,595 32,064,544 Due after five years through ten years 9,182,894 8,708,354 Due after ten years 16,862,695 12,748,371 Due at multiple maturity dates 3,132,001 2,646,361 $ 65,590,213 $ 59,207,042 Expected maturities will differ from contractual maturities because borrowers may Proceeds and gross realized gains (losses) from the sales, calls and maturities of fixed maturity securities available-for-sale, equity securities and investment real estate for the three March 31, 2023 2022 Three Months Ended March 31, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate 2023 2022 2023 2022 2023 2022 Proceeds $ 1,783,450 $ 30,949,960 $ - $ - $ - $ 49,371 Gross realized gains 15,899 1,224,914 - - - - Gross realized losses (34,221 ) (839 ) - (8,000 ) - (3,696 ) The accumulated change in unrealized investment gains (losses) for fixed maturity available-for-sale for the three March 31, 2023 2022 three March 31, 2023 2022 Three Months Ended March 31, (Unaudited) 2023 2022 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ 3,595,258 $ (16,579,786 ) Fixed maturity securities held in trust under coinsurance agreement 1,057,780 (4,676,371 ) Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities (18,322 ) 1,224,075 Fixed maturity securities credit losses (6,923 ) - Equity securities, sale of securities - (8,000 ) Equity securities, changes in fair value (6,206 ) 25,427 Investment real estate - (3,696 ) Major categories of net investment income for the three March 31, 2023 2022 Three Months Ended March 31, (Unaudited) 2023 2022 Fixed maturity securities $ 1,560,033 $ 1,935,754 Preferred stock and equity securities 28,255 65,073 Other long-term investments 1,360,330 1,311,694 Mortgage loans 4,724,356 3,778,025 Policy loans 56,576 43,322 Short-term and other investments 494,678 21,272 Gross investment income 8,224,228 7,155,140 Investment expenses (596,412 ) (706,145 ) Net investment income $ 7,627,816 $ 6,448,995 TLIC and FBLIC are required to hold assets on deposit with various state insurance departments for the benefit of policyholders and other special deposits in accordance with statutory rules and regulations. As of March 31, 2023 December 31, 2022, March 31, 2023 December 31, 2022, The Company’s mortgage loans by property type as of March 31, 2023 December 31, 2022 (Unaudited) March 31, 2023 December 31, 2022 Residential mortgage loans $ 215,565,482 $ 223,984,194 Commercial mortgage loans by property type Agricultural 992,635 994,691 Apartment 3,675,100 3,625,533 Industrial 1,988,680 1,999,438 Lodging 265,765 268,741 Office building 5,517,708 5,681,946 Retail 5,498,125 5,759,585 Total commercial mortgage loans by property type 17,938,013 18,329,934 Total mortgage loans $ 233,503,495 $ 242,314,128 Mortgage loans held in trust under coinsurance agreement Commercial mortgage loans $ 27,162,560 $ 31,076,883 Less unearned interest on mortgage loans 371,073 48,308 Total mortgage loans held in trust under coinsurance agreement $ 26,791,487 $ 31,028,575 There were 30 mortgage loans with a remaining principal balance of $6,404,793 that were more than 90 days past due as of March 31, 2023. March 31, 2022. There were four mortgage loans in default and in the foreclosure process with a remaining principal balance of $1,060,578 as of March 31, 2023. March 31, 2022. The Company’s investment real estate as of March 31, 2023 December 31, 2022 (Unaudited) March 31, 2023 December 31, 2022 Land - held for investment $ 540,436 $ 540,436 Residential real estate - held for sale - - Total investment in real estate $ 540,436 $ 540,436 TLIC owns approximately three FBLIC owns approximately one During 2022,

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
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 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 may 3 3 The Company’s fair value hierarchy for those financial instruments measured at fair value on a recurring basis as of March 31, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total March 31, 2023 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,093,671 $ - $ 2,093,671 States and political subdivisions - 4,542,251 - 4,542,251 Commercial mortgage-backed securities - 8,416,825 - 8,416,825 Residential mortgage-backed securities - 14,450 - 14,450 Corporate bonds - 78,890,933 - 78,890,933 Asset-backed securities - 8,175,952 - 8,175,952 Exchange traded securities - 472,000 - 472,000 Foreign bonds - 24,663,311 - 24,663,311 Redeemable preferred securities - 1,097,200 - 1,097,200 Certificate of deposit - 199,152 - 199,152 Total fixed maturity securities $ - $ 128,565,745 $ - $ 128,565,745 Fixed maturity securities, available-for-sale held in trust under coinsurance agreement $ - $ 59,207,042 $ - 59,207,042 Equity securities Mutual funds $ - $ 47,830 $ - $ 47,830 Corporate common stock 291,601 - 57,485 349,086 Total equity securities $ 291,601 $ 47,830 $ 57,485 $ 396,916 December 31, 2022 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,054,565 $ - $ 2,054,565 States and political subdivisions - 4,560,321 - 4,560,321 Commercial mortgage-backed securities - 8,333,638 - 8,333,638 Residential mortgage-backed securities - 15,250 - 15,250 Corporate bonds - 78,112,137 - 78,112,137 Asset-backed securities - 7,999,429 - 7,999,429 Exchange traded securities - 467,200 - 467,200 Foreign bonds - 23,770,080 - 23,770,080 Redeemable preferred securities - 1,101,200 - 1,101,200 Certificate of deposit - 199,070 - 199,070 Total fixed maturity securities $ - $ 126,612,890 $ - $ 126,612,890 Fixed maturity securities, available-for-sale held in trust under coinsurance agreement $ - $ 56,209,040 $ - $ 56,209,040 Equity securities Mutual funds $ - $ 47,910 $ - $ 47,910 Corporate common stock 297,727 - 53,996 351,723 Total equity securities $ 297,727 $ 47,910 $ 53,996 $ 399,633 As of March 31, 2023 December 31, 2022, 3 no This private placement common stock represents an investment in a small insurance holding company. The fair value for this security was determined through the use of unobservable assumptions about market participants. The Company has assumed a willing market participant would purchase the security for the same price as the Company paid until such time as this small insurance holding company commences 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 equity securities are included in Level 1 2 3. 1 2 not The Company’s fixed maturity 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 three March 31, 2023 December 31, 2022 (Unaudited) March 31, 2023 December 31, 2022 Beginning balance $ 53,996 $ 63,423 Joint venture net income 27,056 215,470 Joint venture distribution (23,567 ) (216,897 ) Net realized invemstment losses - (8,000 ) Ending balance $ 57,485 $ 53,996 The carrying amount and fair value of the Company’s financial assets and financial liabilities disclosed, but not March 31, 2023 December 31, 2022 Carrying Fair Amount Value Level 1 Level 2 Level 3 March 31, 2023 (Unaudited) Financial assets Mortgage loans on real estate Commercial $ 17,938,013 $ 16,938,171 $ - $ - $ 16,938,171 Residential 215,565,482 192,106,017 - - 192,106,017 Policy loans 2,999,041 2,999,041 - - 2,999,041 Short-term investments 2,076,730 2,076,730 2,076,730 - - Other long-term investments 70,594,795 78,270,868 - - 78,270,868 Cash and cash equivalents 55,332,570 55,332,570 55,332,570 - - Accrued investment income 5,877,937 5,877,937 - - 5,877,937 Total financial assets $ 370,384,568 $ 353,601,334 $ 57,409,300 $ - $ 296,192,034 Held in trust under coinsurance agreement Mortgage loans on real estate Commercial $ 27,162,560 $ 27,162,560 $ - $ - $ 27,162,560 Less unearned interest on mortgage loans 371,073 371,073 - - 371,073 Short-term investments 1,360,136 1,360,136 1,360,136 Cash and cash equivalents 4,809,942 4,809,942 4,809,942 - - Total financial assets held in trust under coinsurance agreement $ 32,961,565 $ 32,961,565 $ 6,170,078 $ - $ 26,791,487 Financial liabilities Policyholders' account balances $ 407,959,474 $ 357,962,883 $ - $ - $ 357,962,883 Policy claims 2,307,066 2,307,066 - - 2,307,066 Total financial liabilities $ 410,266,540 $ 360,269,949 $ - $ - $ 360,269,949 December 31, 2022 Financial assets Mortgage loans on real estate Commercial $ 18,329,934 $ 17,393,284 $ - $ - $ 17,393,284 Residential 223,984,194 202,476,647 - - 202,476,647 Policy loans 2,840,887 2,840,887 - - 2,840,887 Short-term investments 1,860,578 1,860,578 1,860,578 - - Other long-term investments 67,500,783 74,155,822 - - 74,155,822 Cash and cash equivalents 33,542,725 33,542,725 33,542,725 - - Accrued investment income 5,580,175 5,580,175 - - 5,580,175 Total financial assets $ 353,639,276 $ 337,850,118 $ 35,403,303 $ - $ 302,446,815 Held in trust under coinsurance agreement Mortgage loans on real estate Commercial $ 31,076,883 $ 31,076,883 $ - $ - $ 31,076,883 Less unearned interest on mortgage loans 48,308 48,308 - - 48,308 Short-term investments 982,404 982,404 982,404 - - Cash and cash equivalents 3,813,750 3,813,750 3,813,750 - - Total financial assets held in trust under coinsurance agreement $ 35,824,729 $ 35,824,729 $ 4,796,154 $ - $ 31,028,575 Financial liabilities Policyholders' account balances $ 391,359,944 $ 359,044,740 $ - $ - $ 359,044,740 Policy claims 2,541,088 2,541,088 - - 2,541,088 Total financial liabilities $ 393,901,032 $ 361,585,828 $ - $ - $ 361,585,828 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 and Equity Securities The fair value of fixed maturity securities and equity securities are based on the principles previously discussed as Level 1, 2 3. Mortgage Loans on Real Estate The fair values for mortgage loans are estimated using discounted cash flow analyses. For both residential and commercial mortgage loans, the discount rate used was indexed to the Secured Overnight Financing Rate as of March 31, 2023 December 31, 2022. 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	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 December 31, 2022 three March 31, 2023 2022 Three Months Ended March 31, (Unaudited) 2023 2022 Revenues: Life insurance operations $ 10,825,816 $ 9,897,724 Annuity operations 6,081,155 5,955,860 Corporate operations 780,970 178,036 Total $ 17,687,941 $ 16,031,620 Income before income taxes: Life insurance operations $ (248,274 ) $ (131,262 ) Annuity operations 1,009,698 1,126,234 Corporate operations 486,503 134,587 Total $ 1,247,927 $ 1,129,559 Depreciation and amortization expense: Life insurance operations $ 1,756,514 $ 1,248,162 Annuity operations 333,138 193,030 Total $ 2,089,652 $ 1,441,192 (Unaudited) March 31, 2023 December 31, 2022 Assets: Life insurance operations $ 152,571,133 $ 149,949,283 Annuity operations 525,048,301 505,990,810 Corporate operations 9,919,469 9,923,944 Total $ 687,538,903 $ 665,864,037

Note 5 - Federal Income Taxes

Note 5 - Federal Income Taxes	3 Months Ended
	Mar. 31, 2023
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 2019 2021

Note 6 - Contingent Liabilities

Note 6 - Contingent Liabilities	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Contingencies Disclosure [Text Block]	6. From time to time, we are a party to various legal proceedings in the ordinary course of business. While management is unable to predict the ultimate outcome of these actions, it believes that any ultimate liability arising from them will not not not three A lawsuit filed by the Company and its Chairman and Chief Executive Officer, Gregg E. Zahn (“Mr. Zahn”) styled First Trinity Financial Corporation and Gregg E. Zahn vs. C. Wayne Pettigrew and Group & Pension Planners was originally filed in 2013 In February 2017, February 2020, December, 2020. no no not The Company, through its life insurance subsidiary, TLIC, commenced two one June 29, 2020 March 4, 2022, No. 652780/2020” No. 651023/2022” no no not The third one November 7, 2018. The causes of action all are alleged to have arisen from the alleged conduct of the various individual defendants, three October 2022. not Guaranty fund assessments, brought about by the insolvency of life and health insurers, are levied at the discretion of the various state guaranty fund associations to cover association obligations. In most states, guaranty fund assessments may five

Note 7 - Other Comprehensive In

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	7. The changes in the components of the Company’s accumulated other comprehensive income (loss) for the three March 31, 2023 2022 Three Months Ended March 31, 2023 and 2022 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of January 1, 2023 $ (14,323,715 ) $ 4,036 $ (14,319,679 ) Cumulative effect adjustment as of January 1, 2023 Accumulated credit loss January 1, 2023 230,036 - 230,036 Other comprehensive income before reclassifications, net of tax 2,825,779 (862 ) 2,824,917 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax (14,474 ) - (14,474 ) Other comprehensive income 2,840,253 (862 ) 2,839,391 Balance as of March 31, 2023 $ (11,253,426 ) $ 3,174 $ (11,250,252 ) Balance as of January 1, 2022 $ 13,209,319 $ (5,492 ) $ 13,203,827 Other comprehensive loss before reclassifications, net of tax (12,131,012 ) 5,461 (12,125,551 ) Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 967,019 - 967,019 Other comprehensive loss (13,098,031 ) 5,461 (13,092,570 ) Balance as of March 31, 2022 $ 111,288 $ (31 ) $ 111,257 7. The pretax components of the Company’s other comprehensive income (loss) and the related income tax expense (benefit) for each component for the three March 31, 2023 2022 Income Tax Pretax Expense (Benefit) Net of Tax Three Months Ended March 31, 2023 (Unaudited) Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 3,576,936 $ 751,157 $ 2,825,779 Reclassification adjustment for net losses included in operations having no credit losses (18,322 ) (3,848 ) (14,474 ) Net unrealized gains on investments 3,595,258 755,005 2,840,253 Adjustment to deferred acquisition costs (1,091 ) (229 ) (862 ) Total other comprehensive income $ 3,594,167 $ 754,776 $ 2,839,391 Three Months Ended March 31, 2022 (Unaudited) Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (15,355,711 ) $ (3,224,699 ) $ (12,131,012 ) Reclassification adjustment for net gains included in operations having no credit losses 1,224,075 257,056 967,019 Net unrealized losses on investments (16,579,786 ) (3,481,755 ) (13,098,031 ) Adjustment to deferred acquisition costs 6,913 1,452 5,461 Total other comprehensive loss $ (16,572,873 ) $ (3,480,303 ) $ (13,092,570 ) 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 March 31, 2023 2022 Three Months Ended March 31, (Unaudited) Reclassification Adjustments 2023 2022 Realized gains (losses) on sales of securities (a) $ (18,322 ) $ 1,224,075 Income tax expense (benefit) (b) (3,848 ) 257,056 Total reclassification adjustments $ (14,474 ) $ 967,019 (a) These items appear within net realized investment gains in the consolidated statements of operations. (b) These items appear within federal income taxes in the consolidated statements of operations.

Note 8 - Allowance for Loan Los

Note 8 - Allowance for Loan Losses From Mortgage Loans on Real Estate	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Premiums Receivable Note [Text Block]	8. As of March 31, 2023, third March 31, 2023, March 31, 2023 March 31, 2023. As of December 31, 2022, third December 31, 2022, December 31, 2022 December 31, 2022. As of March 31, 2023, The balances of and changes in the Company’s credit losses related to mortgage loans on real estate as of and for the three March 31, 2023 2022 March 31, 2023 2022, one third As of and for the Three Months Ended March 31, (Unaudited) Residential Mortgage Loans Commercial Mortgage Loans Total 2023 2022 2023 2022 2023 2022 Allowance, beginning $ 1,030,424 $ 675,162 $ 90,024 $ 31,357 $ 1,120,448 $ 706,519 Charge offs - - - - - - Recoveries - - - - - - Provision (33,500 ) 53,067 (782 ) 30,633 (34,282 ) 83,700 Allowance, ending $ 996,924 $ 728,229 $ 89,242 $ 61,990 $ 1,086,166 $ 790,219 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 996,924 $ 728,229 $ 89,242 $ 61,990 $ 1,086,166 $ 790,219 Carrying Values: Individually evaluated for reserve allowance $ - $ - $ - $ - $ - $ - Collectively evaluated for reserve allowance $ 198,388,187 $ 143,394,981 $ 17,759,044 $ 13,858,582 $ 216,147,231 $ 157,253,563 The Company utilizes the ratio of the carrying value of individual residential and commercial mortgage loans compared to the individual appraisal value to evaluate the credit quality of its mortgage loans on real estate (commonly referred to as the loan-to-value ratio). The Company’s residential and commercial mortgage loans on real estate by credit quality using this ratio as of March 31, 2023 December 31, 2022 Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Over 70% to 80% $ 69,390,042 $ 72,013,555 $ 3,282,044 $ 3,287,048 $ 72,672,086 $ 75,300,603 Over 60% to 70% 67,679,590 67,780,388 3,015,717 3,033,504 70,695,307 70,813,892 Over 50% to 60% 35,819,990 36,929,025 1,924,833 1,839,272 37,744,823 38,768,297 Over 40% to 50% 19,767,168 20,100,407 1,271,762 1,272,088 21,038,930 21,372,495 Over 30% to 40% 11,497,509 13,143,773 4,857,746 5,123,894 16,355,255 18,267,667 Over 20% to 30% 6,378,140 8,898,731 837,233 733,238 7,215,373 9,631,969 Over 10% to 20% 3,829,535 3,976,357 2,124,542 3,040,890 5,954,077 7,017,247 10% or less 1,203,508 1,141,958 624,136 - 1,827,644 1,141,958 Total $ 215,565,482 $ 223,984,194 $ 17,938,013 $ 18,329,934 $ 233,503,495 $ 242,314,128

Note 9 - Line of Credit

Note 9 - Line of Credit	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	9. On September 15, 2022, not one September 15, 2022, 360 $1.5

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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 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.
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, On January 4, 2022, March 1, 2022,
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10 10 X. not The results of operations for the three March 31, 2023 not December 31, 2023 not 10 December 31, 2022.
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 and Treasury Stock Class A and Class B common stock are both fully paid, non-assessable and has a par value of $.01 one one may one .85 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
Reinsurance Accounting Policy [Policy Text Block]	Coinsurance In accordance with an annuity coinsurance agreement with an offshore annuity and life insurance company, 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 In addition, in accordance with this annuity coinsurance agreement, investment income, investment expenses, other income and other expenses earned or incurred in relation to the operations of this annuity coinsurance agreement are not Consolidated Statements of Operations not Consolidated Statements of Financial Position no not Consolidated Statement of Comprehensive Income (Loss) The Company’s Consolidated Statement of Cash Flows one not
Subsequent Events, Policy [Policy Text Block]	Subsequent Events Management has evaluated all events subsequent to March 31, 2023 On April 24, 2023, 777 fourth 2023. On April 24, 2023,
New Accounting Pronouncements, Policy [Policy Text Block]	Adopted Accounting Standards Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13 The estimate of expected credit losses considers historical information, current information, as well as reasonable and supportable forecasts, including estimates of prepayments. The expected credit losses, and subsequent adjustments to such losses, are 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 amended the current other-than-temporary impairment model for available-for-sale debt securities and requires 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 first 2023 January 1, 2023 Troubled Debt Restructurings and Vintage Disclosures In March 2022, 2022 2 first 2023. not Recent Accounting Pronouncements 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 2025 Transition for Sold Contracts In December 2022, 2022 5 2018 12 2018 12 no may not The amendments in this guidance are effective for fiscal years beginning after December 15, 2024. not 2025

Supplemental Disclosure - Cas_2

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	March 31, 2022 Cash used in acquisition of Royalty Capital Life Insurance Company $ - Cash provided in acquisition of Royalty Capital Life Insurance Company 3,525,749 Increase in cash from acquisition of Royalty Capital Life Insurance Company 3,525,749 Fair value of assets acquired in acquisition of Royalty Capital Life Insurance Company (excluding cash) Short-term investments 1,586,667 Recoverable from reinsurers 10,634,753 Accrued investment income 8 Due premiums 25,187 Other assets 6,000 Total fair value of assets acquired (excluding cash) 12,252,615 Fair value of liabilities assumed in acquisition of Royalty Capital Life Insurance Company Future policy benefits 8,102,093 Policyholders' account balance 3,019,610 Policy claims 51,392 Other liabilities 8,505 Total fair value of liabilities assumed 11,181,600 Fair value of net assets acquired in acquisition of Royalty Capital Life Insurance Company (excluding cash) 1,071,015 Fair value of net assets acquired in acquisition of Royalty Capital Life Insurance Company (including cash) $ 4,596,764

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value March 31, 2023 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 2,122,503 $ 2,340 $ 31,172 $ 2,093,671 States and political subdivisions 4,844,056 4,401 306,206 4,542,251 Commercial mortgage-backed securities 10,611,636 - 2,194,811 8,416,825 Residential mortgage-backed securities 10,355 4,095 - 14,450 Corporate bonds 86,660,410 56,882 7,826,359 78,890,933 Asset-backed securities 9,419,078 - 1,243,126 8,175,952 Exchange traded securities 724,639 - 252,639 472,000 Foreign bonds 26,967,893 - 2,304,582 24,663,311 Redeemable preferred securities 1,250,000 - 152,800 1,097,200 Certificate of deposits 200,000 - 848 199,152 Total fixed maturity securities $ 142,810,570 $ 67,718 $ 14,312,543 $ 128,565,745 Fixed maturity securities held in trust under coinsurance agreement $ 65,590,213 $ 17,996 $ 6,401,167 $ 59,207,042 December 31, 2022 Fixed maturity securities U.S. government and U.S. government agencies $ 2,097,558 $ - $ 42,993 $ 2,054,565 States and political subdivisions 4,966,770 2,268 408,717 4,560,321 Commercial mortgage-backed securities 10,608,213 - 2,274,575 8,333,638 Residential mortgage-backed securities 10,550 4,700 - 15,250 Corporate bonds 88,394,563 35,464 10,317,890 78,112,137 Asset-backed securities 9,538,593 - 1,539,164 7,999,429 Exchange traded securities 682,280 - 215,080 467,200 Foreign bonds 26,995,631 - 3,225,551 23,770,080 Redeemable preferred securities 1,250,000 - 148,800 1,101,200 Certificate of deposits 200,000 - 930 199,070 Total fixed maturity securities $ 144,744,158 $ 42,432 $ 18,173,700 $ 126,612,890 Fixed maturity securities held in trust under coinsurance agreement $ 63,649,991 $ 8,224 $ 7,449,175 $ 56,209,040
Schedule of Unrealized Loss on Investments [Table Text Block]	Unrealized Number of Fair Value Loss Securities March 31, 2023 (Unaudited) Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 1,770,942 $ 26,771 2 States and political subdivisions 3,077,144 168,890 17 Commercial mortgage-backed securities 658,413 31,625 1 Corporate bonds 48,878,760 3,038,922 146 Asset-backed securities 1,701,234 126,025 4 Foreign bonds 12,860,020 639,371 38 Certificate of deposits 199,152 848 1 Total less than 12 months in an unrealized loss position 69,145,665 4,032,452 209 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 95,719 4,401 1 States and political subdivisions 994,253 137,316 5 Commercial mortgage-backed securities 7,758,412 2,163,186 23 Corporate bonds 28,049,651 4,787,437 88 Asset-backed securities 6,474,718 1,117,101 17 Exchange traded securities 472,000 252,639 2 Foreign bonds 11,803,291 1,665,211 28 Redeemable preferred securities 347,200 152,800 2 Total more than 12 months in an unrealized loss position 55,995,244 10,280,091 166 Total fixed maturity securities in an unrealized loss position $ 125,140,909 $ 14,312,543 375 Fixed maturity securities held in trust under coisnurance agreement Total less than 12 months in an unrealized loss position $ 30,648,923 $ 1,154,233 144 Total more than 12 months in an unrealized loss position 26,763,821 5,246,934 104 Total fixed maturity securities held in trust under coinsurance agreement in a unrealized loss position $ 57,412,744 $ 6,401,167 248 December 31, 2022 Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 1,760,073 $ 37,231 2 States and political subdivisions 3,325,252 301,788 20 Commercial mortgage-backed securities 5,863,255 1,387,792 17 Corporate bonds 69,451,263 8,733,104 216 Asset-backed securities 5,042,586 890,318 12 Certificate of deposits 199,070 930 1 Foreign bonds 21,766,704 2,785,419 61 Total less than 12 months in an unrealized loss position 107,408,203 14,136,582 329 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 294,492 5,762 2 States and political subdivisions 766,424 106,929 3 Commercial mortgage-backed securities 2,470,383 886,783 7 Corporate bonds 6,314,364 1,584,786 20 Asset-backed securities 2,956,843 648,846 9 Exchange traded securities 467,200 215,080 2 Redeemable preferred securities 351,200 148,800 2 Foreign bonds 2,003,376 440,132 6 Total more than 12 months in an unrealized loss position 15,624,282 4,037,118 51 Total fixed maturity securities in an unrealized loss position $ 123,032,485 $ 18,173,700 380 Fixed maturity securities held in trust under coinsurance agreement Total less than 12 months in an unrealized loss position $ 49,918,808 $ 5,679,624 231 Total more than 12 months in an unrealized loss position 5,524,318 1,769,551 21 Total fixed maturity securities held in trust under coinsurance agreement in a unrealized loss position $ 55,443,126 $ 7,449,175 252
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Table Text Block]	(Unaudited) March 31, 2023 Beginning balance $ - Cumulative adjustment to accumulated earnings as of January 1, 2023 (291,185 ) Current estimate of credit losses (6,923 ) Ending balance $ (298,108 )
Unrealized Gain (Loss) on Investments [Table Text Block]	(Unaudited) March 31, 2023 December 31, 2022 Unrealized depreciation on available-for-sale securities $ (14,244,825 ) $ (18,131,268 ) Adjustment to deferred acquisition costs 4,000 5,091 Deferred income taxes 2,990,573 3,806,498 Net unrealized depreciation on available-for-sale securities $ (11,250,252 ) $ (14,319,679 ) Assets held in trust under coinsurance agreement Unrealized depreciation on fixed maturity securities available-for-sale $ (6,383,171 ) $ (7,440,951 )
Realized Gain (Loss) on Investments [Table Text Block]	Three Months Ended March 31, (Unaudited) Fixed Maturity Securities Equity Securities Investment Real Estate 2023 2022 2023 2022 2023 2022 Proceeds $ 1,783,450 $ 30,949,960 $ - $ - $ - $ 49,371 Gross realized gains 15,899 1,224,914 - - - - Gross realized losses (34,221 ) (839 ) - (8,000 ) - (3,696 )
Investment Income [Table Text Block]	Three Months Ended March 31, (Unaudited) 2023 2022 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ 3,595,258 $ (16,579,786 ) Fixed maturity securities held in trust under coinsurance agreement 1,057,780 (4,676,371 ) Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities (18,322 ) 1,224,075 Fixed maturity securities credit losses (6,923 ) - Equity securities, sale of securities - (8,000 ) Equity securities, changes in fair value (6,206 ) 25,427 Investment real estate - (3,696 ) Three Months Ended March 31, (Unaudited) 2023 2022 Fixed maturity securities $ 1,560,033 $ 1,935,754 Preferred stock and equity securities 28,255 65,073 Other long-term investments 1,360,330 1,311,694 Mortgage loans 4,724,356 3,778,025 Policy loans 56,576 43,322 Short-term and other investments 494,678 21,272 Gross investment income 8,224,228 7,155,140 Investment expenses (596,412 ) (706,145 ) Net investment income $ 7,627,816 $ 6,448,995
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(Unaudited) March 31, 2023 December 31, 2022 Residential mortgage loans $ 215,565,482 $ 223,984,194 Commercial mortgage loans by property type Agricultural 992,635 994,691 Apartment 3,675,100 3,625,533 Industrial 1,988,680 1,999,438 Lodging 265,765 268,741 Office building 5,517,708 5,681,946 Retail 5,498,125 5,759,585 Total commercial mortgage loans by property type 17,938,013 18,329,934 Total mortgage loans $ 233,503,495 $ 242,314,128 Mortgage loans held in trust under coinsurance agreement Commercial mortgage loans $ 27,162,560 $ 31,076,883 Less unearned interest on mortgage loans 371,073 48,308 Total mortgage loans held in trust under coinsurance agreement $ 26,791,487 $ 31,028,575
Schedule of Real Estate Properties [Table Text Block]	(Unaudited) March 31, 2023 December 31, 2022 Land - held for investment $ 540,436 $ 540,436 Residential real estate - held for sale - - Total investment in real estate $ 540,436 $ 540,436
Available For Sale Fixed Maturity Securities [Member]
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	March 31, 2023 (Unaudited) Fixed Maturity Available-For-Sale Securities Other Long-Term Investments Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 2,349,611 $ 2,324,199 $ 14,618,209 $ 14,811,648 Due after one year through five years 23,650,812 22,399,366 37,699,223 40,549,037 Due after five years through ten years 22,538,034 21,486,336 12,809,244 15,183,494 Due after ten years 82,400,123 72,825,591 5,468,119 7,726,689 Due at multiple maturity dates 11,871,990 9,530,253 - - $ 142,810,570 $ 128,565,745 $ 70,594,795 $ 78,270,868 March 31, 2023 (Unaudited) Fixed Maturity Available-For-Sale Securities Amortized Cost Fair Value Due in one year or less $ 3,060,028 $ 3,039,412 Due after one year through five years 33,352,595 32,064,544 Due after five years through ten years 9,182,894 8,708,354 Due after ten years 16,862,695 12,748,371 Due at multiple maturity dates 3,132,001 2,646,361 $ 65,590,213 $ 59,207,042

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total March 31, 2023 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,093,671 $ - $ 2,093,671 States and political subdivisions - 4,542,251 - 4,542,251 Commercial mortgage-backed securities - 8,416,825 - 8,416,825 Residential mortgage-backed securities - 14,450 - 14,450 Corporate bonds - 78,890,933 - 78,890,933 Asset-backed securities - 8,175,952 - 8,175,952 Exchange traded securities - 472,000 - 472,000 Foreign bonds - 24,663,311 - 24,663,311 Redeemable preferred securities - 1,097,200 - 1,097,200 Certificate of deposit - 199,152 - 199,152 Total fixed maturity securities $ - $ 128,565,745 $ - $ 128,565,745 Fixed maturity securities, available-for-sale held in trust under coinsurance agreement $ - $ 59,207,042 $ - 59,207,042 Equity securities Mutual funds $ - $ 47,830 $ - $ 47,830 Corporate common stock 291,601 - 57,485 349,086 Total equity securities $ 291,601 $ 47,830 $ 57,485 $ 396,916 December 31, 2022 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 2,054,565 $ - $ 2,054,565 States and political subdivisions - 4,560,321 - 4,560,321 Commercial mortgage-backed securities - 8,333,638 - 8,333,638 Residential mortgage-backed securities - 15,250 - 15,250 Corporate bonds - 78,112,137 - 78,112,137 Asset-backed securities - 7,999,429 - 7,999,429 Exchange traded securities - 467,200 - 467,200 Foreign bonds - 23,770,080 - 23,770,080 Redeemable preferred securities - 1,101,200 - 1,101,200 Certificate of deposit - 199,070 - 199,070 Total fixed maturity securities $ - $ 126,612,890 $ - $ 126,612,890 Fixed maturity securities, available-for-sale held in trust under coinsurance agreement $ - $ 56,209,040 $ - $ 56,209,040 Equity securities Mutual funds $ - $ 47,910 $ - $ 47,910 Corporate common stock 297,727 - 53,996 351,723 Total equity securities $ 297,727 $ 47,910 $ 53,996 $ 399,633
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	(Unaudited) March 31, 2023 December 31, 2022 Beginning balance $ 53,996 $ 63,423 Joint venture net income 27,056 215,470 Joint venture distribution (23,567 ) (216,897 ) Net realized invemstment losses - (8,000 ) Ending balance $ 57,485 $ 53,996
Fair Value, by Balance Sheet Grouping [Table Text Block]	Carrying Fair Amount Value Level 1 Level 2 Level 3 March 31, 2023 (Unaudited) Financial assets Mortgage loans on real estate Commercial $ 17,938,013 $ 16,938,171 $ - $ - $ 16,938,171 Residential 215,565,482 192,106,017 - - 192,106,017 Policy loans 2,999,041 2,999,041 - - 2,999,041 Short-term investments 2,076,730 2,076,730 2,076,730 - - Other long-term investments 70,594,795 78,270,868 - - 78,270,868 Cash and cash equivalents 55,332,570 55,332,570 55,332,570 - - Accrued investment income 5,877,937 5,877,937 - - 5,877,937 Total financial assets $ 370,384,568 $ 353,601,334 $ 57,409,300 $ - $ 296,192,034 Held in trust under coinsurance agreement Mortgage loans on real estate Commercial $ 27,162,560 $ 27,162,560 $ - $ - $ 27,162,560 Less unearned interest on mortgage loans 371,073 371,073 - - 371,073 Short-term investments 1,360,136 1,360,136 1,360,136 Cash and cash equivalents 4,809,942 4,809,942 4,809,942 - - Total financial assets held in trust under coinsurance agreement $ 32,961,565 $ 32,961,565 $ 6,170,078 $ - $ 26,791,487 Financial liabilities Policyholders' account balances $ 407,959,474 $ 357,962,883 $ - $ - $ 357,962,883 Policy claims 2,307,066 2,307,066 - - 2,307,066 Total financial liabilities $ 410,266,540 $ 360,269,949 $ - $ - $ 360,269,949 December 31, 2022 Financial assets Mortgage loans on real estate Commercial $ 18,329,934 $ 17,393,284 $ - $ - $ 17,393,284 Residential 223,984,194 202,476,647 - - 202,476,647 Policy loans 2,840,887 2,840,887 - - 2,840,887 Short-term investments 1,860,578 1,860,578 1,860,578 - - Other long-term investments 67,500,783 74,155,822 - - 74,155,822 Cash and cash equivalents 33,542,725 33,542,725 33,542,725 - - Accrued investment income 5,580,175 5,580,175 - - 5,580,175 Total financial assets $ 353,639,276 $ 337,850,118 $ 35,403,303 $ - $ 302,446,815 Held in trust under coinsurance agreement Mortgage loans on real estate Commercial $ 31,076,883 $ 31,076,883 $ - $ - $ 31,076,883 Less unearned interest on mortgage loans 48,308 48,308 - - 48,308 Short-term investments 982,404 982,404 982,404 - - Cash and cash equivalents 3,813,750 3,813,750 3,813,750 - - Total financial assets held in trust under coinsurance agreement $ 35,824,729 $ 35,824,729 $ 4,796,154 $ - $ 31,028,575 Financial liabilities Policyholders' account balances $ 391,359,944 $ 359,044,740 $ - $ - $ 359,044,740 Policy claims 2,541,088 2,541,088 - - 2,541,088 Total financial liabilities $ 393,901,032 $ 361,585,828 $ - $ - $ 361,585,828

Note 4 - Segment Data (Tables)

Note 4 - Segment Data (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, (Unaudited) 2023 2022 Revenues: Life insurance operations $ 10,825,816 $ 9,897,724 Annuity operations 6,081,155 5,955,860 Corporate operations 780,970 178,036 Total $ 17,687,941 $ 16,031,620 Income before income taxes: Life insurance operations $ (248,274 ) $ (131,262 ) Annuity operations 1,009,698 1,126,234 Corporate operations 486,503 134,587 Total $ 1,247,927 $ 1,129,559 Depreciation and amortization expense: Life insurance operations $ 1,756,514 $ 1,248,162 Annuity operations 333,138 193,030 Total $ 2,089,652 $ 1,441,192
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	(Unaudited) March 31, 2023 December 31, 2022 Assets: Life insurance operations $ 152,571,133 $ 149,949,283 Annuity operations 525,048,301 505,990,810 Corporate operations 9,919,469 9,923,944 Total $ 687,538,903 $ 665,864,037

Note 7 - Other Comprehensive _2

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended March 31, 2023 and 2022 (Unaudited) Unrealized Appreciation Accumulated (Depreciation) on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Income (Loss) Balance as of January 1, 2023 $ (14,323,715 ) $ 4,036 $ (14,319,679 ) Cumulative effect adjustment as of January 1, 2023 Accumulated credit loss January 1, 2023 230,036 - 230,036 Other comprehensive income before reclassifications, net of tax 2,825,779 (862 ) 2,824,917 Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax (14,474 ) - (14,474 ) Other comprehensive income 2,840,253 (862 ) 2,839,391 Balance as of March 31, 2023 $ (11,253,426 ) $ 3,174 $ (11,250,252 ) Balance as of January 1, 2022 $ 13,209,319 $ (5,492 ) $ 13,203,827 Other comprehensive loss before reclassifications, net of tax (12,131,012 ) 5,461 (12,125,551 ) Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax 967,019 - 967,019 Other comprehensive loss (13,098,031 ) 5,461 (13,092,570 ) Balance as of March 31, 2022 $ 111,288 $ (31 ) $ 111,257
Comprehensive Income (Loss) [Table Text Block]	Income Tax Pretax Expense (Benefit) Net of Tax Three Months Ended March 31, 2023 (Unaudited) Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during the period $ 3,576,936 $ 751,157 $ 2,825,779 Reclassification adjustment for net losses included in operations having no credit losses (18,322 ) (3,848 ) (14,474 ) Net unrealized gains on investments 3,595,258 755,005 2,840,253 Adjustment to deferred acquisition costs (1,091 ) (229 ) (862 ) Total other comprehensive income $ 3,594,167 $ 754,776 $ 2,839,391 Three Months Ended March 31, 2022 (Unaudited) Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (15,355,711 ) $ (3,224,699 ) $ (12,131,012 ) Reclassification adjustment for net gains included in operations having no credit losses 1,224,075 257,056 967,019 Net unrealized losses on investments (16,579,786 ) (3,481,755 ) (13,098,031 ) Adjustment to deferred acquisition costs 6,913 1,452 5,461 Total other comprehensive loss $ (16,572,873 ) $ (3,480,303 ) $ (13,092,570 )
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended March 31, (Unaudited) Reclassification Adjustments 2023 2022 Realized gains (losses) on sales of securities (a) $ (18,322 ) $ 1,224,075 Income tax expense (benefit) (b) (3,848 ) 257,056 Total reclassification adjustments $ (14,474 ) $ 967,019

Note 8 - Allowance for Loan L_2

Note 8 - Allowance for Loan Losses From Mortgage Loans on Real Estate (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	As of and for the Three Months Ended March 31, (Unaudited) Residential Mortgage Loans Commercial Mortgage Loans Total 2023 2022 2023 2022 2023 2022 Allowance, beginning $ 1,030,424 $ 675,162 $ 90,024 $ 31,357 $ 1,120,448 $ 706,519 Charge offs - - - - - - Recoveries - - - - - - Provision (33,500 ) 53,067 (782 ) 30,633 (34,282 ) 83,700 Allowance, ending $ 996,924 $ 728,229 $ 89,242 $ 61,990 $ 1,086,166 $ 790,219 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 996,924 $ 728,229 $ 89,242 $ 61,990 $ 1,086,166 $ 790,219 Carrying Values: Individually evaluated for reserve allowance $ - $ - $ - $ - $ - $ - Collectively evaluated for reserve allowance $ 198,388,187 $ 143,394,981 $ 17,759,044 $ 13,858,582 $ 216,147,231 $ 157,253,563
Financing Receivable Credit Quality Indicators [Table Text Block]	Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Over 70% to 80% $ 69,390,042 $ 72,013,555 $ 3,282,044 $ 3,287,048 $ 72,672,086 $ 75,300,603 Over 60% to 70% 67,679,590 67,780,388 3,015,717 3,033,504 70,695,307 70,813,892 Over 50% to 60% 35,819,990 36,929,025 1,924,833 1,839,272 37,744,823 38,768,297 Over 40% to 50% 19,767,168 20,100,407 1,271,762 1,272,088 21,038,930 21,372,495 Over 30% to 40% 11,497,509 13,143,773 4,857,746 5,123,894 16,355,255 18,267,667 Over 20% to 30% 6,378,140 8,898,731 837,233 733,238 7,215,373 9,631,969 Over 10% to 20% 3,829,535 3,976,357 2,124,542 3,040,890 5,954,077 7,017,247 10% or less 1,203,508 1,141,958 624,136 - 1,827,644 1,141,958 Total $ 215,565,482 $ 223,984,194 $ 17,938,013 $ 18,329,934 $ 233,503,495 $ 242,314,128

Supplemental Disclosure - Cas_3

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities (Details Textual) - Royalty Capital Life Insurance Company (RCLIC) [Member] - USD ($)	Mar. 31, 2022	Jan. 04, 2022
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total		$ 15,778,364
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total	$ 11,181,600	$ 11,181,600

Supplemental Disclosure - Cas_4

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities - Acquisition (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jan. 04, 2022
Cash provided in acquisition of Royalty Capital Life Insurance Company	$ 0	$ 3,525,749
Royalty Capital Life Insurance Company (RCLIC) [Member]
Cash used in acquisition of Royalty Capital Life Insurance Company		0
Cash provided in acquisition of Royalty Capital Life Insurance Company		3,525,749
Increase in cash from acquisition of Royalty Capital Life Insurance Company		3,525,749
Short-term investments		1,586,667
Recoverable from reinsurers		10,634,753
Accrued investment income		8
Due premiums		25,187
Other assets		6,000
Total fair value of assets acquired (excluding cash)		12,252,615
Future policy benefits		8,102,093
Policyholders' account balance		3,019,610
Policy claims		51,392
Other liabilities		8,505
Total fair value of liabilities assumed		11,181,600	$ 11,181,600
Fair value of net assets acquired in acquisition of Royalty Capital Life Insurance Company (excluding cash)		1,071,015
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total		$ 4,596,764

Note 1 - Organization and Sig_2

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

3 Months Ended

12 Months Ended

24 Months Ended

93 Months Ended

110 Months Ended

Jan. 04, 2022 shares

Jan. 01, 2020 USD ($) shares

Apr. 03, 2018 USD ($)

Apr. 28, 2015 USD ($)

Dec. 28, 2011 USD ($)

Dec. 31, 2008 USD ($)

Dec. 23, 2008 USD ($)

Mar. 31, 2023 USD ($) $ / shares shares

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

Dec. 31, 2004 USD ($)

Dec. 31, 2012 USD ($) shares

Mar. 08, 2013 USD ($)

Mar. 08, 2013 USD ($) shares

Apr. 24, 2023 $ / shares shares

Jan. 01, 2023 USD ($)

Dec. 31, 2022 USD ($) $ / shares

Mar. 31, 2022 USD ($)

Oct. 02, 2019

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

$ 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

Percentage of Dividends Received Upon Merger or Liquidation Activity

100%

Retained Earnings (Accumulated Deficit)

$ 23,885,845

$ 23,100,785

Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]

Retained Earnings (Accumulated Deficit)

$ 230,036

Conversion of Common Stock Class B into Common Stock Class A [Member]

Conversion of Stock, Number of Stock Convertible by Each Share (in shares) | shares

0.85

Conversion of Common Stock Class B into Common Stock Class A [Member] | Subsequent Event [Member]

Conversion Rate of Common Class B into Class A (in shares) | shares

85

Conversion of Common Stock Class B into Common Stock Class A [Member] | Subsequent Event [Member] | Minimum [Member]

Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares

$ 7.75

Conversion of Common Stock Class B into Common Stock Class A [Member] | Subsequent Event [Member] | Maximum [Member]

Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares

$ 8

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%

Percent of Dividends

100%

Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares

$ 0.01

$ 0.01

Right To Receive Dividend Percentage

85%

Common Class B [Member]

Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares

$ 0.01

$ 0.01

Retained Earnings [Member]

Dividends, Common Stock, Total

$ 8,657,249

$ 5,270,138

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, Total

$ 1,746,240

Business Acquisition, Percentage of Voting Interests Acquired

100%

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

$ 1,746,240

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

Business Combination, Consideration Transferred, Total

$ 250,000

Business Acquisition, Percentage of Voting Interests Acquired

100%

Royalty Capital Life Insurance Company (RCLIC) [Member]

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

$ 4,596,764

Royalty Capital Life Insurance Company (RCLIC) [Member] | Common Class A [Member]

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

722,644

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

Wholly Owned Subsidiary Ownership Percentage

100%

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 Combination, Consideration Transferred, Total

$ 13,855,129

Business Acquisition, Percentage of Voting Interests Acquired

100%

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

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%

The Assuming Offshore Company [Member]

Additional Percentage of Assets in Trust above Required Annuity Reserve

4%

Trinity Life Insurance Company [Member]

Wholly Owned Subsidiary Ownership Percentage

100%

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

Wholly Owned Subsidiary Ownership Percentage

100%

First Trinity Capital Corporation [Member]

Wholly Owned Subsidiary Ownership Percentage

100%

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)	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) a	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Deposit Assets	$ 4,364,763		$ 4,634,898
Other Assets, Fair Value Disclosure	$ 4,337,311		4,590,193
Number Of Loans Past Due	30	14
Financing Receivable, 90 Days or More Past Due, Still Accruing	$ 6,404,793	$ 3,090,264
Past Due Loans, Term Past Due (Year)	90 years	90 days
Number of Mortgage Loans in Default	4	2
Mortgage Loans in Process of Foreclosure, Amount	$ 1,060,578	$ 611,220
Real Estate Investments, Net, Total	540,436		540,436
Proceeds from Sale of Real Estate Held-for-investment, Total	0	$ 49,371
Topeka Kansas [Member] | TLIC [Member] | Underdeveloped Land [Member]
Land	$ 409,436
Jefferson City Missouri [Member] | FBLIC [Member] | Assets Held-for-sale not Part of a Disposal Group [Member]
Area of Land (Acre) | a	0.5
Jefferson City Missouri [Member] | FBLIC [Member] | Underdeveloped Land [Member]
Land	$ 131,000
Lottery Prize Cash Flows [Member]
Other Investments	$ 70,594,795		$ 67,500,783
Debt Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	375		380
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ 14,312,543		$ 18,173,700
Debt Securities, Available-for-Sale, Unrealized Loss Position	125,140,909		123,032,485
Amortized Cost of Debt Securities Available for Sale in an Unrealized Loss Position	$ 139,453,452		$ 141,206,185
Fair Value to Cost Ratio	90%		87%
Residential Mortgage [Member]
Real Estate Investments, Net, Total			$ 147,909
Gains (Losses) on Sales of Investment Real Estate			52,171
Proceeds from Sale of Real Estate Held-for-investment, Total			$ 200,080

Note 2 - Investments - Availabl

Note 2 - Investments - Available-for-sale Fixed Maturity and Equity Securities (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
US Treasury and Government [Member]
Available-for-sale securities at cost	$ 2,122,503	$ 2,097,558
Securities, gross unrealized gains	2,340	0
Securities, gross unrealized losses	31,172	42,993
Fixed maturity available-for-sale securities - fair value	2,093,671	2,054,565
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities at cost	4,844,056	4,966,770
Securities, gross unrealized gains	4,401	2,268
Securities, gross unrealized losses	306,206	408,717
Fixed maturity available-for-sale securities - fair value	4,542,251	4,560,321
Commercial Mortgage-Backed Securities [Member]
Available-for-sale securities at cost	10,611,636	10,608,213
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	2,194,811	2,274,575
Fixed maturity available-for-sale securities - fair value	8,416,825	8,333,638
Residential Mortgage-Backed Securities [Member]
Available-for-sale securities at cost	10,355	10,550
Securities, gross unrealized gains	4,095	4,700
Securities, gross unrealized losses	0	0
Fixed maturity available-for-sale securities - fair value	14,450	15,250
Corporate Debt Securities [Member]
Available-for-sale securities at cost	86,660,410	88,394,563
Securities, gross unrealized gains	56,882	35,464
Securities, gross unrealized losses	7,826,359	10,317,890
Fixed maturity available-for-sale securities - fair value	78,890,933	78,112,137
Asset-Backed Securities [Member]
Available-for-sale securities at cost	9,419,078	9,538,593
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	1,243,126	1,539,164
Fixed maturity available-for-sale securities - fair value	8,175,952	7,999,429
Exchange-traded Debt Securities [Member]
Available-for-sale securities at cost	724,639	682,280
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	252,639	215,080
Fixed maturity available-for-sale securities - fair value	472,000	467,200
Debt Security, Government, Non-US [Member]
Available-for-sale securities at cost	26,967,893	26,995,631
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	2,304,582	3,225,551
Fixed maturity available-for-sale securities - fair value	24,663,311	23,770,080
Redeemable Preferred Stock [Member]
Available-for-sale securities at cost	1,250,000	1,250,000
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	152,800	148,800
Fixed maturity available-for-sale securities - fair value	1,097,200	1,101,200
Certificates of Deposit [Member]
Available-for-sale securities at cost	200,000	200,000
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	848	930
Fixed maturity available-for-sale securities - fair value	199,152	199,070
Debt Securities [Member]
Available-for-sale securities at cost	142,810,570	144,744,158
Securities, gross unrealized gains	67,718	42,432
Securities, gross unrealized losses	14,312,543	18,173,700
Fixed maturity available-for-sale securities - fair value	128,565,745	126,612,890
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Available-for-sale securities at cost	65,590,213	63,649,991
Securities, gross unrealized gains	17,996	8,224
Securities, gross unrealized losses	6,401,167	7,449,175
Fixed maturity available-for-sale securities - fair value	$ 59,207,042	$ 56,209,040

Note 2 - Investments - Securiti

Note 2 - Investments - Securities in an Unrealized Loss Position (Details)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Securities in an unrealized loss position, more than twelve months, fair value		$ 2,003,376
Securities in an unrealized loss position, more than twelve months, unrealized loss		$ 440,132
Securities in an unrealized loss position, more than twelve months, number		6
US Government Agencies Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 1,770,942	$ 1,760,073
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 26,771	$ 37,231
Securities in an unrealized loss position, less than twelve months, number	2	2
Securities in an unrealized loss position, more than twelve months, fair value	$ 95,719
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 4,401
Securities in an unrealized loss position, more 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	$ 3,077,144	$ 3,325,252
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 168,890	$ 301,788
Securities in an unrealized loss position, less than twelve months, number	17	20
Securities in an unrealized loss position, more than twelve months, fair value	$ 994,253	$ 766,424
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 137,316	$ 106,929
Securities in an unrealized loss position, more than twelve months, number	5	3
Commercial Mortgage-Backed Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 658,413	$ 5,863,255
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 31,625	$ 1,387,792
Securities in an unrealized loss position, less than twelve months, number	1	17
Securities in an unrealized loss position, more than twelve months, fair value	$ 7,758,412	$ 2,470,383
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 2,163,186	$ 886,783
Securities in an unrealized loss position, more than twelve months, number	23	7
Corporate Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 48,878,760	$ 69,451,263
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 3,038,922	$ 8,733,104
Securities in an unrealized loss position, less than twelve months, number	146	216
Securities in an unrealized loss position, more than twelve months, fair value	$ 28,049,651	$ 6,314,364
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 4,787,437	$ 1,584,786
Securities in an unrealized loss position, more than twelve months, number	88	20
Asset-Backed Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 1,701,234	$ 5,042,586
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 126,025	$ 890,318
Securities in an unrealized loss position, less than twelve months, number	4	12
Securities in an unrealized loss position, more than twelve months, fair value	$ 6,474,718	$ 2,956,843
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 1,117,101	$ 648,846
Securities in an unrealized loss position, more than twelve months, number	17	9
Debt Security, Government, Non-US [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 12,860,020	$ 21,766,704
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 639,371	$ 2,785,419
Securities in an unrealized loss position, less than twelve months, number	38	61
Securities in an unrealized loss position, more than twelve months, fair value	$ 11,803,291
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 1,665,211
Securities in an unrealized loss position, more than twelve months, number	28
Certificate of Deposit [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 199,152	$ 199,070
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 848	$ 930
Securities in an unrealized loss position, less than twelve months, number	1	1
Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 69,145,665	$ 107,408,203
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 4,032,452	$ 14,136,582
Securities in an unrealized loss position, less than twelve months, number	209	329
Securities in an unrealized loss position, more than twelve months, fair value	$ 55,995,244	$ 15,624,282
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 10,280,091	$ 4,037,118
Securities in an unrealized loss position, more than twelve months, number	166	51
Securities in an unrealized loss position, fair value	$ 125,140,909	$ 123,032,485
Securities in an unrealized loss position, unrealized loss	$ 14,312,543	$ 18,173,700
Securities in an unrealized loss position, number	375	380
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 30,648,923	$ 49,918,808
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 1,154,233	$ 5,679,624
Securities in an unrealized loss position, less than twelve months, number	144	231
Securities in an unrealized loss position, more than twelve months, fair value	$ 26,763,821	$ 5,524,318
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 5,246,934	$ 1,769,551
Securities in an unrealized loss position, more than twelve months, number	104	21
Securities in an unrealized loss position, fair value	$ 57,412,744	$ 55,443,126
Securities in an unrealized loss position, unrealized loss	$ 6,401,167	$ 7,449,175
Securities in an unrealized loss position, number	248	252
US Government Corporations and Agencies Securities [Member]
Securities in an unrealized loss position, more than twelve months, fair value		$ 294,492
Securities in an unrealized loss position, more than twelve months, unrealized loss		$ 5,762
Securities in an unrealized loss position, more than twelve months, number		2
Exchange-traded Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 472,000	$ 467,200
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 252,639	$ 215,080
Securities in an unrealized loss position, less than twelve months, number	2	2
Redeemable Preferred Stock [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 347,200	$ 351,200
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 152,800	$ 148,800
Securities in an unrealized loss position, less than twelve months, number	2	2

Note 2 - Investments - Change i

Note 2 - Investments - Change in Estimate of Credit Losses (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Beginning balance	$ 0
Current estimate of credit losses	(6,923)
Ending balance	(298,108)
Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance	$ (291,185)

Note 2 - Investments - Net Unre

Note 2 - Investments - Net Unrealized Gains Included in Accumulated Other Comprehensive Income (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Unrealized depreciation on available-for-sale securities	$ (14,244,825)	$ (18,131,268)
Adjustment to deferred acquisition costs	4,000	5,091
Deferred income taxes	2,990,573	3,806,498
Net unrealized depreciation on available-for-sale securities	(11,250,252)	(14,319,679)
Trinity Life Insurance Company [Member]
Unrealized depreciation on available-for-sale securities	$ (6,383,171)	$ (7,440,951)

Note 2 - Investments - Fixed Ma

Note 2 - Investments - Fixed Maturity Available-for-sale Securities by Contractual Maturities (Details)	Mar. 31, 2023 USD ($)
Fixed Maturities [Member]
Due in one year or less - amortized cost	$ 2,349,611
Due in one year or less - fair value	2,324,199
Due in one year through five years - amortized cost	23,650,812
Due after one year through five years- fair value	22,399,366
Due after five years through ten years - amortized cost	22,538,034
Due after five years through ten years - fair value	21,486,336
Due after ten years - amortized cost	82,400,123
Due after ten years - fair value	72,825,591
Due at multiple maturity dates - amortized cost	11,871,990
Due at multiple maturity dates - fair value	9,530,253
Fixed maturity available-for-sale securities - amortized cost	142,810,570
Fixed maturity available-for-sale securities - fair value	128,565,745
Fixed Maturities [Member] | Trinity Life Insurance Company [Member]
Due in one year or less - amortized cost	3,060,028
Due in one year or less - fair value	3,039,412
Due in one year through five years - amortized cost	33,352,595
Due after one year through five years- fair value	32,064,544
Due after five years through ten years - amortized cost	9,182,894
Due after five years through ten years - fair value	8,708,354
Due after ten years - amortized cost	16,862,695
Due after ten years - fair value	12,748,371
Due at multiple maturity dates - amortized cost	3,132,001
Due at multiple maturity dates - fair value	2,646,361
Fixed maturity available-for-sale securities - amortized cost	65,590,213
Fixed maturity available-for-sale securities - fair value	59,207,042
Other Long-Term Investments [Member]
Due in one year or less - amortized cost	14,618,209
Due in one year or less - fair value	14,811,648
Due in one year through five years - amortized cost	37,699,223
Due after one year through five years- fair value	40,549,037
Due after five years through ten years - amortized cost	12,809,244
Due after five years through ten years - fair value	15,183,494
Due after ten years - amortized cost	5,468,119
Due after ten years - fair value	7,726,689
Due at multiple maturity dates - amortized cost	0
Due at multiple maturity dates - fair value	0
Fixed maturity available-for-sale securities - amortized cost	70,594,795
Fixed maturity available-for-sale securities - fair value	$ 78,270,868

Note 2 - Investments - Proceeds

Note 2 - Investments - Proceeds and Gross Realized Gains (Losses) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fixed Maturities [Member]
Proceeds from sale, maturity, or collection of investments	$ 1,783,450	$ 30,949,960
Gross realized gains on sale of investments	15,899	1,224,914
Gross realized losses on sale of investments	(34,221)	(839)
Equity Securities [Member]
Proceeds from sale, maturity, or collection of investments	0	0
Gross realized gains on sale of investments	0	0
Gross realized losses on sale of investments	0	(8,000)
Real Estate Investment [Member]
Proceeds from sale, maturity, or collection of investments	0	49,371
Gross realized gains on sale of investments	0	0
Gross realized losses on sale of investments	$ 0	$ (3,696)

Note 2 - Investments - Major Ca

Note 2 - Investments - Major Categories of Net Investment Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Change in unrealized investment gains (losses)	$ 2,840,253	$ (13,098,031)
Gross Investment income	8,224,228	7,155,140
Investment expenses	(596,412)	(706,145)
Net investment income	7,627,816	6,448,995
Fixed Maturities [Member]
Change in unrealized investment gains (losses)	3,595,258	(16,579,786)
Net realized investment gains (losses)	(18,322)	1,224,075
Fixed maturity securities credit losses	(6,923)	0
Gross Investment income	1,560,033	1,935,754
Fixed Maturities [Member] | Trinity Life Insurance Company [Member]
Change in unrealized investment gains (losses)	1,057,780	(4,676,371)
Preferred stock and Equity Securities [Member]
Gross Investment income	28,255	65,073
Other Long-Term Investments [Member]
Gross Investment income	1,360,330	1,311,694
Mortgages [Member]
Gross Investment income	4,724,356	3,778,025
Policy Loans [Member]
Gross Investment income	56,576	43,322
Short-Term Investments [Member]
Gross Investment income	494,678	21,272
Equity Securities [Member]
Fixed maturity securities credit losses	(6,206)	25,427
Equity securities, sale of securities	0	(8,000)
Real Estate Investment [Member]
Net realized investment gains (losses)	$ 0	$ (3,696)

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans on Real Estate (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 233,503,495	$ 242,314,128
Trinity Life Insurance Company [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	26,791,487	31,028,575
Less unearned interest on mortgage loans	371,073	48,308
Total mortgage loans held in trust under coinsurance agreement	26,791,487	31,028,575
Residential Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	215,565,482	223,984,194
Commercial Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	17,938,013	18,329,934
Commercial Portfolio Segment [Member] | Trinity Life Insurance Company [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	27,162,560	31,076,883
Commercial Portfolio Segment [Member] | Industrial Property [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	1,988,680	1,999,438
Commercial Portfolio Segment [Member] | Agriculture [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	992,635	994,691
Commercial Portfolio Segment [Member] | Apartment Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	3,675,100	3,625,533
Commercial Portfolio Segment [Member] | Hotel [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	265,765	268,741
Commercial Portfolio Segment [Member] | Office Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	5,517,708	5,681,946
Commercial Portfolio Segment [Member] | Retail Site [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 5,498,125	$ 5,759,585

Note 2 - Investments - Investme

Note 2 - Investments - Investment Real Estate (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Investment real estate	$ 540,436	$ 540,436
Land Held for Sale [Member]
Investment real estate	540,436	540,436
Residential Real Estate - Held for Sale [Member]
Investment real estate	$ 0	$ 0

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurements - Fair Value Measured on a Recurring Basis (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Recurring [Member]
Equity securities	$ 396,916	$ 399,633
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Equity securities	291,601	297,727
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Equity securities	47,830	47,910
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Equity securities	57,485	53,996
US Treasury and Government [Member]
Fixed maturity available-for-sale securities - fair value	2,093,671	2,054,565
US Treasury and Government [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	2,093,671	2,054,565
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	2,093,671	2,054,565
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	4,542,251	4,560,321
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	4,542,251	4,560,321
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	4,542,251	4,560,321
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
Commercial Mortgage-Backed Securities [Member]
Fixed maturity available-for-sale securities - fair value	8,416,825	8,333,638
Commercial Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	8,416,825	8,333,638
Commercial Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Commercial Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	8,416,825	8,333,638
Commercial Mortgage-Backed 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	14,450	15,250
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	14,450	15,250
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	14,450	15,250
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	78,890,933	78,112,137
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	78,890,933	78,112,137
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	78,890,933	78,112,137
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	8,175,952	7,999,429
Asset-Backed Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	8,175,952	7,999,429
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	8,175,952	7,999,429
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	472,000	467,200
Exchange-traded Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	472,000	467,200
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	472,000	467,200
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	24,663,311	23,770,080
Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	24,663,311	23,770,080
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	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	24,663,311	23,770,080
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	0
Redeemable Preferred Stock [Member]
Fixed maturity available-for-sale securities - fair value	1,097,200	1,101,200
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	1,097,200	1,101,200
Redeemable Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Redeemable Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	1,097,200	1,101,200
Redeemable Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Certificates of Deposit [Member]
Fixed maturity available-for-sale securities - fair value	199,152	199,070
Certificates of Deposit [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	199,152	199,070
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	199,152	199,070
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	128,565,745	126,612,890
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Fixed maturity available-for-sale securities - fair value	59,207,042	56,209,040
Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	128,565,745	126,612,890
Debt Securities [Member] | Fair Value, Recurring [Member] | Trinity Life Insurance Company [Member]
Fixed maturity available-for-sale securities - fair value	59,207,042	56,209,040
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 1 [Member] | Fair Value, Recurring [Member] | Trinity Life Insurance Company [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	128,565,745	126,612,890
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Trinity Life Insurance Company [Member]
Fixed maturity available-for-sale securities - fair value	59,207,042	56,209,040
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Trinity Life Insurance Company [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Mutual Fund [Member] | Fair Value, Recurring [Member]
Equity securities	47,830	47,910
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	47,830	47,910
Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Equity securities	0	0
Common Stock [Member] | Fair Value, Recurring [Member]
Equity securities	349,086	351,723
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Equity securities	291,601	297,727
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	$ 57,485	$ 53,996

Note 3 - Fair Value Measureme_4

Note 3 - Fair Value Measurements - Change in Fair Value of Available-for-sale Equity Securities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Beginning balance	$ 53,996	$ 63,423
Joint venture net income	27,056	215,470
Joint venture distribution	(23,567)	(216,897)
Net realized invemstment losses	0	(8,000)
Ending balance	$ 57,485	$ 53,996

Note 3 - Fair Value Measureme_5

Note 3 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Policy loans	$ 2,999,041	$ 2,840,887
Accrued investment income	5,877,937	5,580,175
Policy claims	2,307,066	2,541,088
Trinity Life Insurance Company [Member]
Less unearned interest on mortgage loans	371,073	48,308
Reported Value Measurement [Member]
Policy loans	2,999,041	2,840,887
Short-term investments	2,076,730	1,860,578
Other long-term investments	70,594,795	67,500,783
Cash and cash equivalents	55,332,570	33,542,725
Accrued investment income	5,877,937	5,580,175
Total financial assets	370,384,568	353,639,276
Policyholders' account balances	407,959,474	391,359,944
Policy claims	2,307,066	2,541,088
Total financial liabilities	410,266,540	393,901,032
Reported Value Measurement [Member] | Trinity Life Insurance Company [Member]
Short-term investments	1,360,136	982,404
Cash and cash equivalents	4,809,942	3,813,750
Total financial assets	32,961,565	35,824,729
Less unearned interest on mortgage loans	371,073	48,308
Reported Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate	17,938,013	18,329,934
Reported Value Measurement [Member] | Commercial [Member] | Trinity Life Insurance Company [Member]
Mortgage loans on real estate	27,162,560	31,076,883
Reported Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	215,565,482	223,984,194
Estimate of Fair Value Measurement [Member]
Policy loans	2,999,041	2,840,887
Short-term investments	2,076,730	1,860,578
Other long-term investments	78,270,868	74,155,822
Cash and cash equivalents	55,332,570	33,542,725
Accrued investment income	5,877,937	5,580,175
Total financial assets	353,601,334	337,850,118
Policyholders' account balances	357,962,883	359,044,740
Policy claims	2,307,066	2,541,088
Total financial liabilities	360,269,949	361,585,828
Estimate of Fair Value Measurement [Member] | Trinity Life Insurance Company [Member]
Short-term investments	1,360,136	982,404
Cash and cash equivalents	4,809,942	3,813,750
Total financial assets	32,961,565	35,824,729
Less unearned interest on mortgage loans	371,073	48,308
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Policy loans	0	0
Short-term investments	2,076,730	1,860,578
Other long-term investments	0	0
Cash and cash equivalents	55,332,570	33,542,725
Accrued investment income	0	0
Total financial assets	57,409,300	35,403,303
Policyholders' account balances	0	0
Policy claims	0	0
Total financial liabilities	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Trinity Life Insurance Company [Member]
Short-term investments	1,360,136	982,404
Cash and cash equivalents	4,809,942	3,813,750
Total financial assets	6,170,078	4,796,154
Less unearned interest on mortgage loans	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 2 [Member] | Trinity Life Insurance Company [Member]
Short-term investments		0
Cash and cash equivalents	0	0
Total financial assets	0	0
Less unearned interest on mortgage loans	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Policy loans	2,999,041	2,840,887
Short-term investments	0	0
Other long-term investments	78,270,868	74,155,822
Cash and cash equivalents	0	0
Accrued investment income	5,877,937	5,580,175
Total financial assets	296,192,034	302,446,815
Policyholders' account balances	357,962,883	359,044,740
Policy claims	2,307,066	2,541,088
Total financial liabilities	360,269,949	361,585,828
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Trinity Life Insurance Company [Member]
Short-term investments		0
Cash and cash equivalents	0	0
Total financial assets	26,791,487	31,028,575
Less unearned interest on mortgage loans	371,073	48,308
Estimate of Fair Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate	16,938,171	17,393,284
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Trinity Life Insurance Company [Member]
Mortgage loans on real estate	27,162,560	31,076,883
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 1 [Member]
Mortgage loans on real estate	0	0
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 1 [Member] | Trinity Life Insurance Company [Member]
Mortgage loans on real estate	0	0
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 2 [Member]
Mortgage loans on real estate	0	0
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 2 [Member] | Trinity Life Insurance Company [Member]
Mortgage loans on real estate	0	0
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 3 [Member]
Mortgage loans on real estate	16,938,171	17,393,284
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 3 [Member] | Trinity Life Insurance Company [Member]
Mortgage loans on real estate	27,162,560	31,076,883
Estimate of Fair Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	192,106,017	202,476,647
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	$ 192,106,017	$ 202,476,647

Note 4 - Segment Data - Segment

Note 4 - Segment Data - Segment Data - Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Total revenue	$ 17,687,941	$ 16,031,620
Income before income taxes	1,247,927	1,129,559
Depreciation and amortization expense	2,089,652	1,441,192
Life Insurance Operations [Member]
Total revenue	10,825,816	9,897,724
Income before income taxes	(248,274)	(131,262)
Depreciation and amortization expense	1,756,514	1,248,162
Annuity Operations [Member]
Total revenue	6,081,155	5,955,860
Income before income taxes	1,009,698	1,126,234
Depreciation and amortization expense	333,138	193,030
Corporate Segment [Member]
Total revenue	780,970	178,036
Income before income taxes	$ 486,503	$ 134,587

Note 4 - Segment Data - Assets

Note 4 - Segment Data - Assets (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Total assets	$ 687,538,903	$ 665,864,037
Life Insurance Operations [Member]
Total assets	152,571,133	149,949,283
Annuity Operations [Member]
Total assets	525,048,301	505,990,810
Corporate Segment [Member]
Total assets	$ 9,919,469	$ 9,923,944

Note 6 - Contingent Liabiliti_2

Note 6 - Contingent Liabilities (Details Textual)			3 Months Ended	20 Months Ended
	Jun. 29, 2020	Feb. 17, 2017 USD ($)	Mar. 31, 2023	Mar. 04, 2022
Former Employees of the Plaintiffs [Member]
Loss Contingency, Number of Defendants			3
Case No. CJ-2013-03385 [Member] | Mr. Pettigrew [Member] | First Trinity Financial Corporation [Member]
Loss Contingency, Damages Awarded, Value		$ 800,000
Case No. CJ-2013-03385 [Member] | Mr. Pettigrew [Member] | Mr. Zahn [Member]
Loss Contingency, Damages Awarded, Value		$ 3,500,000
Pending Litigation [Member]
Loss Contingency, Number of Lawsuits			3
Pending Litigation [Member] | Trinity Life Insurance Company [Member]
Loss Contingency, Number of Lawsuits	1			2

Note 7 - Other Comprehensive _3

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Balance	$ 51,652,512	$ 68,394,551
Total other comprehensive income (loss)	2,839,391	(13,092,570)
Balance	55,506,999	60,811,280
Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance	0
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Balance	(14,323,715)	13,209,319
Other comprehensive income (loss) before reclassifications, net of tax	2,825,779	(12,131,012)
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	(14,474)	967,019
Total other comprehensive income (loss)	2,840,253	(13,098,031)
Balance	(11,253,426)	111,288
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance	230,036
Adjustment to Deferred Acquisition Costs [Member]
Balance	4,036	(5,492)
Other comprehensive income (loss) before reclassifications, net of tax	(862)	5,461
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	0	0
Total other comprehensive income (loss)	(862)	5,461
Balance	3,174	(31)
Adjustment to Deferred Acquisition Costs [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance	0
AOCI Attributable to Parent [Member]
Balance	(14,319,679)	13,203,827
Other comprehensive income (loss) before reclassifications, net of tax	2,824,917	(12,125,551)
Less amounts reclassified from accumulated other comprehensive income having no credit losses, net of tax	(14,474)	967,019
Total other comprehensive income (loss)	2,839,391	(13,092,570)
Balance	(11,250,252)	$ 111,257
AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance	$ 230,036

Note 7 - Other Comprehensive _4

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) (Details) - USD ($)		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Unrealized holding gains arising during the period, pretax		$ 3,576,936	$ (15,355,711)
Unrealized holding gains arising during the period, tax		751,157	(3,224,699)
Unrealized holding gains arising during the period, net of tax		2,825,779	(12,131,012)
Realized gains (losses) on sales of securities	[1]	(18,322)	1,224,075
Income tax expense (benefit)	[2]	(3,848)	257,056
Reclassification adjustment for net gains included in operation having no credit losses, net of tax		(14,474)	967,019
Net unrealized gains on investments, pretax		3,595,258	(16,579,786)
Net unrealized gains on investments, tax		755,005	(3,481,755)
Net unrealized gains on investments, net of tax		2,840,253	(13,098,031)
Adjustment to deferred acquisition costs, pretax		(1,091)	6,913
Adjustment to deferred acquisition costs, income tax expense (benefit), tax		(229)	1,452
Adjustment to deferred acquisition costs, net of tax		(862)	5,461
Total other comprehensive income, pretax		3,594,167	(16,572,873)
Total other comprehensive income, tax		754,776	(3,480,303)
Total other comprehensive income, net of tax		$ 2,839,391	$ (13,092,570)
[1]These items appear within net realized investment gains in the consolidated statements of operations.[2]These items appear within federal income taxes in the consolidated statements of operations.

Note 7 - Other Comprehensive _5

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) - Reclassified From Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Realized gains (losses) on sales of securities	[1]	$ (18,322)	$ 1,224,075
Income tax expense (benefit)	[2]	(3,848)	257,056
Total reclassification adjustments		$ (14,474)	$ 967,019
[1]These items appear within net realized investment gains in the consolidated statements of operations.[2]These items appear within federal income taxes in the consolidated statements of operations.

Note 8 - Allowance for Loan L_3

Note 8 - Allowance for Loan Losses From Mortgage Loans on Real Estate (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 233,503,495	$ 242,314,128
Financing Receivable, Collectively Evaluated for Impairment	216,147,231	222,969,230
Independent Mortgage Loan Balances [Member]
Financing Receivable, Allowance for Credit Loss	1,086,166	1,120,448
One Loan Originator and Investments [Member] | Independent Mortgage Loan Balances [Member]
Escrow Deposit	753,345	753,648
Escrow Amount Available	666,564	656,924
Advances To Loan Originator	5,202,978	4,743,041
Residential Real Estate - Held for Sale [Member] | Independent Mortgage Loan Balances [Member]
Escrow Amount Available	86,781	96,724
Mortgage Loans on Real Estate, Commercial and Consumer, Net	17,356,264	19,344,898
Residential Real Estate - Held for Sale [Member] | Independent Mortgage Loan Balances [Member] | Related Party [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	2,040,000
One Loan Originator [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 17,356,264	$ 34,323,315

Note 8 - Allowance for Loan L_4

Note 8 - Allowance for Loan Losses From Mortgage Loans On Real Estate - Allowance for Loss on Premium Financing (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Provision	$ (34,282)	$ 83,700
Financing Receivable, Collectively Evaluated for Impairment	216,147,231		$ 222,969,230
Residential Portfolio Segment [Member]
Allowance, beginning	1,030,424	675,162
Charge offs	0	0
Recoveries	0	0
Provision	(33,500)	53,067
Allowance, ending	996,924	728,229
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	996,924	728,229
Individually evaluated for reserve allowance	0	0
Financing Receivable, Collectively Evaluated for Impairment	198,388,187	143,394,981
Commercial Portfolio Segment [Member]
Allowance, beginning	90,024	31,357
Charge offs	0	0
Recoveries	0	0
Provision	(782)	30,633
Allowance, ending	89,242	61,990
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	89,242	61,990
Individually evaluated for reserve allowance	0	0
Financing Receivable, Collectively Evaluated for Impairment	17,759,044	13,858,582
Premium Finance Loans [Member]
Allowance, beginning	1,120,448	706,519
Charge offs	0	0
Recoveries	0	0
Provision	(34,282)	83,700
Allowance, ending	1,086,166	790,219
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1,086,166	790,219
Individually evaluated for reserve allowance	0	0
Financing Receivable, Collectively Evaluated for Impairment	$ 216,147,231	$ 157,253,563

Note 8 - Allowance for Loan L_5

Note 8 - Allowance for Loan Losses From Mortgage Loans on Real Estate - Mortgage Loan to Value Ratios (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Mortgage loans on real estate	$ 233,503,495	$ 242,314,128
Loan to Value Range1 [Member]
Mortgage loans on real estate	72,672,086	75,300,603
Loan to Value Range 2 [Member]
Mortgage loans on real estate	70,695,307	70,813,892
Loan to Value Range 3 [Member]
Mortgage loans on real estate	37,744,823	38,768,297
Loan to Value Range 4 [Member]
Mortgage loans on real estate	21,038,930	21,372,495
Loan to Value Range 5 [Member]
Mortgage loans on real estate	16,355,255	18,267,667
Loan to Value Range 6 [Member]
Mortgage loans on real estate	7,215,373	9,631,969
Loan to Value Range 7 [Member]
Mortgage loans on real estate	5,954,077	7,017,247
Loan to Value Range 8 [Member]
Mortgage loans on real estate	1,827,644	1,141,958
Residential Portfolio Segment [Member]
Mortgage loans on real estate	215,565,482	223,984,194
Residential Portfolio Segment [Member] | Loan to Value Range1 [Member]
Mortgage loans on real estate	69,390,042	72,013,555
Residential Portfolio Segment [Member] | Loan to Value Range 2 [Member]
Mortgage loans on real estate	67,679,590	67,780,388
Residential Portfolio Segment [Member] | Loan to Value Range 3 [Member]
Mortgage loans on real estate	35,819,990	36,929,025
Residential Portfolio Segment [Member] | Loan to Value Range 4 [Member]
Mortgage loans on real estate	19,767,168	20,100,407
Residential Portfolio Segment [Member] | Loan to Value Range 5 [Member]
Mortgage loans on real estate	11,497,509	13,143,773
Residential Portfolio Segment [Member] | Loan to Value Range 6 [Member]
Mortgage loans on real estate	6,378,140	8,898,731
Residential Portfolio Segment [Member] | Loan to Value Range 7 [Member]
Mortgage loans on real estate	3,829,535	3,976,357
Residential Portfolio Segment [Member] | Loan to Value Range 8 [Member]
Mortgage loans on real estate	1,203,508	1,141,958
Commercial Portfolio Segment [Member]
Mortgage loans on real estate	17,938,013	18,329,934
Commercial Portfolio Segment [Member] | Loan to Value Range1 [Member]
Mortgage loans on real estate	3,282,044	3,287,048
Commercial Portfolio Segment [Member] | Loan to Value Range 2 [Member]
Mortgage loans on real estate	3,015,717	3,033,504
Commercial Portfolio Segment [Member] | Loan to Value Range 3 [Member]
Mortgage loans on real estate	1,924,833	1,839,272
Commercial Portfolio Segment [Member] | Loan to Value Range 4 [Member]
Mortgage loans on real estate	1,271,762	1,272,088
Commercial Portfolio Segment [Member] | Loan to Value Range 5 [Member]
Mortgage loans on real estate	4,857,746	5,123,894
Commercial Portfolio Segment [Member] | Loan to Value Range 6 [Member]
Mortgage loans on real estate	837,233	733,238
Commercial Portfolio Segment [Member] | Loan to Value Range 7 [Member]
Mortgage loans on real estate	2,124,542	3,040,890
Commercial Portfolio Segment [Member] | Loan to Value Range 8 [Member]
Mortgage loans on real estate	$ 624,136	$ 0

Note 9 - Line of Credit (Detail

Note 9 - Line of Credit (Details Textual) - Line of Credit [Member] - USD ($) $ in Thousands	Sep. 15, 2021	Mar. 31, 2023
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,500
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	1%
Long-term Line of Credit, Total		$ 0
Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.75%
Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1%