First Trinity Financial (FTFC) 10-Q 13 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 12, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	000-52613
Entity Registrant Name	FIRST TRINITY FINANCIAL CORPORATION
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
Entity Common Stock, Shares Outstanding (in shares)		9,384,340
Entity Central Index Key	0001395585
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Investments
Mortgage loans on real estate	$ 203,916,971	$ 239,831,447
Investment real estate	1,739,048	1,305,403
Policy loans	3,742,282	3,474,116
Short-term investments	0	298,257
Other long-term investments	60,810,561	61,487,939
Total investments	422,408,967	456,517,640
Cash and cash equivalents	61,812,030	33,839,741
Accrued investment income	5,599,372	6,214,459
Recoverable from reinsurers	10,085,589	10,353,674
Assets held in trust under coinsurance agreement
Mortgage loans on real estate	203,916,971	239,831,447
Payable for securities	(8,454)	(4,414)
Cash and cash equivalents	61,812,030	33,839,741
Agents' balances and due premiums	1,455,189	1,284,003
Deferred policy acquisition costs	63,065,004	60,795,108
Value of insurance business acquired	3,682,177	3,777,353
Other assets	10,669,295	19,299,098
Total assets	620,131,221	672,021,535
Policy liabilities
Policyholders' account balances	361,873,240	391,247,676
Future policy benefits	129,982,551	123,729,530
Policy claims	2,467,191	2,410,243
Other policy liabilities	307,688	250,294
Total policy liabilities	494,630,670	517,637,743
Funds withheld under coinsurance agreement	37,035,560	77,257,253
Deferred federal income taxes	4,387,671	4,228,189
Other liabilities	18,100,812	8,882,142
Total liabilities	554,154,713	608,005,327
Shareholders' equity
Additional paid-in capital	43,668,023	43,668,023
Treasury stock, at cost (247,580 shares as of June 30, 2024 and December 31, 2023)	(893,947)	(893,947)
Accumulated other comprehensive loss	(10,865,141)	(9,641,308)
Accumulated earnings	33,970,243	30,786,110
Total shareholders' equity	65,976,508	64,016,208
Total liabilities and shareholders' equity	620,131,221	672,021,535
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	16,721,330	27,581,881
Cash and cash equivalents	143,740	711,733
Assets held in trust under coinsurance agreement
Mortgage loans on real estate	16,721,330	27,581,881
Cash and cash equivalents	143,740	711,733
Total assets held in trust under coinsurance agreement	41,353,598	79,940,459
Debt Securities [Member]
Investments
Available-for-sale fixed maturity securities at fair value	151,753,077	149,700,948
Assets held in trust under coinsurance agreement
Available-for-sale fixed maturity securities at fair value	151,753,077	149,700,948
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Investments
Available-for-sale fixed maturity securities at fair value	24,496,982	51,651,259
Assets held in trust under coinsurance agreement
Available-for-sale fixed maturity securities at fair value	24,496,982	51,651,259
Equity Securities [Member]
Investments
Equity securities at fair value (cost: $279,508 and $287,375 as of June 30, 2024 and December 31, 2023, respectively)	$ 447,028	$ 419,530

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Treasury Stock, Common, Shares (in shares)	247,580	247,580
Common Class A [Member]
Common Stock, Par or Stated Value Per Share (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 or Stated Value Per Share (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]
Debt Securities, Available-for-Sale, Amortized Cost	$ 165,509,608	$ 161,908,230
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Debt Securities, Available-for-Sale, Amortized Cost	29,585,588	56,824,160
Equity Securities [Member]
Equity Securities, FV-NI, Cost	$ 279,508	$ 287,375

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues
Premiums	$ 10,302,404	$ 9,599,539	$ 19,953,409	$ 18,707,848
Net investment income	7,668,417	7,446,396	15,626,294	15,074,212
Net realized investment gains (losses)	(159,965)	(112,070)	(119,904)	(143,521)
Loss on impairments	(129,436)	0	(129,436)	0
Service fees	498,484	1,110,994	746,166	2,093,842
Other income	(36,774)	8,014	608,809	8,433
Total revenues	18,143,130	18,052,873	36,685,338	35,740,814
Benefits and claims
Increase in future policy benefits	3,835,769	3,195,351	6,416,784	6,483,015
Policyholder Benefits and Claims Incurred, Net, Life and Annuity	3,370,887	3,156,135	6,881,640	7,109,297
Policyholder Benefits and Claims Incurred, Net, Surrenders	581,841	668,266	1,159,198	1,101,132
Interest credited to policyholders	3,600,321	3,805,863	7,267,805	7,421,969
Dividend, endowment and supplementary life contract benefits	95,642	87,510	180,658	168,782
Total benefits and claims	11,484,460	10,913,125	21,906,085	22,284,195
Policy acquisition costs deferred	(4,341,346)	(3,664,613)	(7,266,639)	(7,400,224)
Amortization of deferred policy acquisition costs	2,671,126	2,258,279	4,996,837	4,279,690
Amortization of value of insurance business acquired	43,839	73,257	95,176	141,499
Commissions	4,030,610	3,433,682	6,812,337	6,993,690
Other underwriting, insurance and acquisition expenses	2,466,099	3,139,947	6,075,598	6,294,841
Total expenses	4,870,328	5,240,552	10,713,309	10,309,496
Total benefits, claims and expenses	16,354,788	16,153,677	32,619,394	32,593,691
Income before total federal income tax expense	1,788,342	1,899,196	4,065,944	3,147,123
Current federal income tax expense	263,435	109,128	397,007	255,001
Deferred federal income tax expense	134,927	288,159	484,804	375,117
Total federal income tax expense	398,362	397,287	881,811	630,118
Net income	$ 1,389,980	$ 1,501,909	$ 3,184,133	$ 2,517,005
Common Class A [Member]
Benefits and claims
Common stock (in dollars per share)	$ 0.1468	$ 0.1586	$ 0.3362	$ 0.2658
Common Class B [Member]
Benefits and claims
Common stock (in dollars per share)	$ 0.1248	$ 0.1348	$ 0.2858	$ 0.2259

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income		$ 1,389,980	$ 1,501,909	$ 3,184,133	$ 2,517,005
Other comprehensive income (loss)
Total net unrealized investment gains (losses) arising during the period		(895,539)	(1,865,053)	(1,593,362)	1,711,883
Less net realized investment losses having no credit losses	[1]	(42,415)	(31,281)	(44,113)	(49,603)
Net unrealized investment gains (losses)		(853,124)	(1,833,772)	(1,549,249)	1,761,486
Less adjustment to deferred acquisition costs		(191)	(363)	(94)	728
Other comprehensive income (loss) before federal income tax expense (benefit)		(852,933)	(1,833,409)	(1,549,155)	1,760,758
Federal income tax expense (benefit)		(179,116)	(385,017)	(325,322)	369,759
Total other comprehensive income (loss)		(673,817)	(1,448,392)	(1,223,833)	1,390,999
Total comprehensive income		$ 716,163	$ 53,517	$ 1,960,300	$ 3,908,004
[1]These items appear within net realized investment(losses in the consolidated statements of operations.

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member] Common Class A [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member] Common Class B [Member]	Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	AOCI Attributable to Parent [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Total
Balance at Dec. 31, 2022	$ 96,319	$ 96,319	$ 1,011	$ 1,011	$ 43,668,023	$ 43,668,023	$ (893,947)	$ (893,947)	$ 230,036	$ (14,089,643)	$ (14,319,679)	$ (230,036)	$ 22,870,749	$ 23,100,785	$ 0	$ 51,652,512	$ 51,652,512
Net income		0		0		0		0			0			2,517,005			2,517,005
Other comprehensive loss		0		0		0		0			1,390,999			0			1,390,999
Balance at Jun. 30, 2023		96,319		1,011		43,668,023		(893,947)			(12,698,644)			25,387,754			55,560,516
Balance at Mar. 31, 2023		96,319		1,011		43,668,023		(893,947)			(11,250,252)			23,885,845			55,506,999
Net income		0		0		0		0			0			1,501,909			1,501,909
Other comprehensive loss		0		0		0		0			(1,448,392)			0			(1,448,392)
Balance at Jun. 30, 2023		96,319		1,011		43,668,023		(893,947)			(12,698,644)			25,387,754			55,560,516
Balance at Dec. 31, 2023		96,319		1,011		43,668,023		(893,947)			(9,641,308)			30,786,110			64,016,208
Net income		0		0		0		0			0			3,184,133			3,184,133
Other comprehensive loss		0		0		0		0			(1,223,833)			0			(1,223,833)
Balance at Jun. 30, 2024		96,319		1,011		43,668,023		(893,947)			(10,865,141)			33,970,243			65,976,508
Balance at Mar. 31, 2024		96,319		1,011		43,668,023		(893,947)			(10,191,324)			32,580,263			65,260,345
Net income		0		0		0		0			0			1,389,980			1,389,980
Other comprehensive loss		0		0		0		0			(673,817)			0			(673,817)
Balance at Jun. 30, 2024		$ 96,319		$ 1,011		$ 43,668,023		$ (893,947)			$ (10,865,141)			$ 33,970,243			$ 65,976,508

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net income	$ 1,389,980	$ 1,501,909	$ 3,184,133	$ 2,517,005
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of discount on investments			(2,346,688)	(2,518,435)
Net realized investment (gains) losses	159,965	112,070	119,904	143,521
Asset Impairment Charges	129,436	0	129,436	0
Amortization of policy acquisition cost	2,671,126	2,258,279	4,996,837	4,279,690
Policy acquisition costs deferred	(4,341,346)	(3,664,613)	(7,266,639)	(7,400,224)
Amortization of value of insurance business acquired	43,839	73,257	95,176	141,499
Allowance for mortgage loan losses			(158,346)	39,426
Provision for deferred federal income tax expense	134,927	288,159	484,804	375,117
Interest credited to policyholders	3,600,321	3,805,863	7,267,805	7,421,969
Change in assets and liabilities:
Accrued investment income			615,087	(767,410)
Recoverable from reinsurers			268,085	427,815
Assets held in trust under coinsurance agreement			39,968,624	7,141,323
Agents' balances and due premiums			(171,186)	(44,479)
Other assets			8,629,803	(12,705,521)
Future policy benefits			6,253,021	6,141,203
Policy claims			56,948	(601,375)
Other policy liabilities			57,394	151,565
Other liabilities (exclude change in payable for securities purchased of ($1,469) and $757,048 in 2024 and 2023, respectively)			8,680,602	(3,044,312)
Net cash provided by operating activities			70,864,800	1,698,377
Investing activities
Purchases of fixed maturity securities			(7,196,831)	(223,594)
Maturities of fixed maturity securities			1,400,000	355,000
Sales of fixed maturity securities			2,051,501	2,158,558
Purchases of equity securities			(45,542)	(63,479)
Joint venture distribution			53,409	49,646
Purchases of mortgage loans			(37,309,014)	(74,416,806)
Payments on mortgage loans			72,861,854	71,963,905
Purchases of other long-term investments			(4,932,676)	(5,523,698)
Payments on other long-term investments			7,902,326	7,683,912
Policy loans			(268,166)	(234,498)
Short-term investments			298,257	(239,904)
Net cash provided by investing activities			35,353,186	2,265,975
Policyholders' account withdrawals
Policyholders' account deposits			47,417,280	57,781,005
Policyholders' account withdrawals			(125,662,977)	(52,345,302)
Net cash provided by (used in) financing activities			(78,245,697)	5,435,703
Increase in cash and cash equivalents			27,972,289	9,400,055
Cash and cash equivalents, beginning of period			33,839,741	33,542,725
Cash and cash equivalents, end of period	$ 61,812,030	$ 42,942,780	61,812,030	42,942,780
Receivables Excluding Policy Loan Receivables [Member]
Investing activities
Net change in receivable and payable for securities sold and purchased			$ 538,068	$ 756,933

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Increase (Decrease) in Payable of Securities Purchased	$ 538,068	$ (756,933)

Supplemental Disclosure - Cash

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities	6 Months Ended
	Jun. 30, 2024
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 Investing Activities (Unaudited) During the six months ended June 30, 2024, the Company foreclosed on residential mortgage loans of real estate totaling $563,081 and transferred that property to investment real estate that is now held for sale. In conjunction with this foreclosure, the non-cash impact on investing activities is summarized as follows: Six Months Ended June 30, 2024 Reductions in mortgage loans due to foreclosure $ 563,081 Investment real estate held-for-sale acquired through foreclosure (563,081 ) Net cash used in investing activities $ - See notes to consolidated financial statements (unaudited).

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Organization and Significant Accounting Policies Nature of Operations First Trinity Financial Corporation (the “Company” or “FTFC”) is the parent holding company of Trinity Life Insurance Company (“TLIC”), Family Benefit Life Insurance Company (“FBLIC”), Trinity Mortgage Corporation (“TMC”) and Trinity American, Inc. (“TAI”). The Company was incorporated in Oklahoma on April 19, 2004, for the primary purpose of organizing a life insurance subsidiary. 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, 20 and 30 years. They can be issued with premiums fully guaranteed for the entire term period or with a limited premium guarantee. The final expense product is issued as either a simplified issue or as a graded benefit, determined by underwriting. The TLIC and FBLIC products are sold through independent agents. TLIC is licensed in the states of Alabama, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Montana, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Utah and West Virginia. FBLIC is licensed in the states of Alabama, Arizona, Arkansas, Colorado, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia and West Virginia. The Company owns 100% of TMC that was incorporated in 2006 and began operations in January 2007. TMC’s primary focus changed during 2020 from premium financing loans to originating, brokering and administrating residential and commercial mortgage loans for third parties. The Company owns 100% of TAI. TAI was incorporated in Barbados, West Indies on March 24, 2016 for the primary purpose of forming a life insurance company producing United States of America (U.S.) dollar denominated life insurance policies and annuity contracts outside of the United States and Barbados. TAI is licensed as an Exempt Insurance Company under the Exempt Insurance Act of Barbados. TAI was initially involved in developing life insurance and annuity contracts through an association with distribution channels but is now issuing life insurance policies and annuity contracts. The Company’s acquisition of TAI was formally approved by Barbados regulators and the certifications were received in 2019. Company Capitalization The Company raised $1,450,000 from two two one The Company also issued 702,685 shares of its common stock in connection with two 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, FTFC acquired 100% of the outstanding common stock of First Life America Corporation (“FLAC”) from an unaffiliated company. The acquisition of FLAC was accounted for as a purchase. The aggregate purchase price for FLAC was $2,695,234 including direct costs associated with the acquisition of $195,234. The acquisition of FLAC was financed with the working capital of FTFC. On December 31, 2008, FTFC made FLAC a 15 year loan in the form of a surplus note in the amount of $250,000 with an interest rate of 6% payable monthly, that was approved by the Oklahoma Insurance Department (“OID”). This surplus note is eliminated in consolidation. On August 31, 2009, two On December 28, 2011, TLIC acquired 100% of the outstanding common stock of FBLIC from FBLIC’s shareholders. The acquisition of FBLIC was accounted for as a purchase. The aggregate purchase price for the acquisition of FBLIC was $13,855,129. The acquisition of FBLIC was financed with the working capital of TLIC. On April 28, 2015, the Company acquired a block of life insurance policies and annuity contracts according to the terms of an assumption reinsurance agreement. The Company acquired assets of $3,644,839, assumed liabilities of $3,055,916 and recorded a gain on reinsurance assumption of $588,923. On April 3, 2018, FTFC acquired 100% of the outstanding stock of TAI domiciled in Barbados, West Indies. The Barbados regulators approved the acquisition and supplied certifications during 2019. The aggregate purchase price for the acquisition of TAI was $250,000. The acquisition of TAI was financed with the working capital of FTFC. Effective January 1, 2020, the Company acquired 100% of the outstanding common stock of K-TENN insurance company (“K-TENN”) from its sole shareholder in exchange for 168,866 shares of FTFC’s common stock. The acquisition of K-TENN was accounted for as a purchase. The aggregate purchase price of K-TENN was $1,746,240. Immediately subsequent to this acquisition, the $1,746,240 of net assets and liabilities of K-TENN along with the related life insurance business operations were contributed to TLIC. On January 4, 2022, FTFC acquired Royalty Capital Life Insurance Company (“RCLIC”) from Royalty Capital Corporation (“Royalty”) in exchange for 722,644 shares of FTFC’s Class A common stock issued to unrelated parties. Royalty was dissolved immediately after FTFC acquired RCLIC. On March 1, 2022, the Missouri Department of Commerce and Insurance approved FTFC’s contribution and merger of RCLIC into FBLIC. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting primarily of normal recurring accruals) considered necessary for a fair presentation of the results for the interim periods have been included. The results of operations for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the year ended December 31, 2024 or for any other interim period or for any other future year. Certain financial information which is normally included in notes to consolidated financial statements prepared in accordance with U.S. GAAP, but which is not required for interim reporting purposes, has been condensed or omitted. The accompanying consolidated financial statements and notes thereto should be read in conjunction with the financial statements and notes thereto included in the Company's report on Form 10-K for the year ended December 31, 2023. In first quarter 2023, the Company adopted Accounting Standards Update 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 change to the cost basis of the security. This determination involves a degree of uncertainty. Changes in the allowance for credit losses are recognized in earnings. The assessment and determination of whether or not a credit loss exists is based on consideration of the cash flows expected to be collected from the fixed maturity security. The Company develops those expectations after considering various factors such as agency ratings, the financial condition of the issuer or underlying obligors, payment history, payment structure of the security, industry and market conditions, underlying collateral, and other factors that may be relevant based on the facts and circumstances pertaining to individual securities. If the Company intends to sell the fixed maturity security or will be more likely than not be required to sell the fixed maturity security before recovery of its amortized cost basis, then any allowance for credit losses, if previously recorded is written off and the fixed maturity security’s amortized cost is written down to the security’s fair value as of the reporting date with any incremental impairment recorded as a charge to noninterest income. 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 be anticipated. 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 supported by funds held in escrow based on historical patterns. The Company’s foreclosed properties have not resulted in accumulated losses and due to the low loan-to-value the Company holds with respect to its mortgage loans, the Company has not recorded and does not expect to record the addition to the purchase price of mortgage loans an initial allowance for credit losses to be amortized over the life of the mortgage loans. The Company will continue to record credit losses for mortgage loans not supported by funds held in escrow in accordance with its valuation policy for mortgage loans on real estate followed before 2023. 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 specifically identified loans. 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 classified as impaired. The Company determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the mortgage loan 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 recorded and does not expect to incur any current estimated credit losses on its investments in lottery prize receivables. Principles of Consolidation The consolidated financial statements include the accounts and operations of the Company and its subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. Reclassifications Certain reclassifications have been made in the prior year and prior quarter financial statements to conform to current year and current quarter classifications. These reclassifications had no effect on previously reported net income or shareholders' equity. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Common Stock and Treasury Stock Class A and Class B common stock are both fully paid, non-assessable and has a par value of $ .01 .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 longer outstanding. Funds Withheld 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 be terminated for new business by either party at any time upon 30 days prior written notice to the other party. 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 reported on the Company’s Consolidated Statements of Operations Consolidated Statements of Financial Position Consolidated Statement of Comprehensive Loss The Company’s Consolidated Statement of Cash Flows Cybersecurity The Company has established and continues to enhance its cybersecurity enterprise risk management program. The Company’s executive team meets formally at least monthly, and informally as needed, to set and maintain a strategy focused on achieving a high level of cybersecurity protection. The Company’s executive management team makes quarterly reports to the Company’s Board of Directors and Audit Committee. The Company’s executive management team is enhanced by the inclusion of an information technology external consultant to advise the Company’s executive management team and to focus on developing and maintaining external and internal cybersecurity. Working with Company executives and staff, the information technology consultant advises and helps the Company implement its strategy with respect to: ● Computer hardware and software, ● Security access, logging and user termination, ● In house and remote user access – user accounts, password protection, authentication, monitoring usage, intrusion detection, incident identification and related controls, ● Encryption, ● System change control, ● Data back up and remote sites, ● Data recovery, ● And Disaster recovery The Company also utilizes training to foster an environment of information security awareness, training and education. Beyond making employees aware of its cybersecurity risk management program, strategy and governance, this training also introduces all employees to many types of cybersecurity risks to introduce skepticism and enhance skills to identify and report potential situations encountered to the executive management team for further assessment. Subsequent Events Management has evaluated all events subsequent to June 30, 2024 through the date that these financial statements have been issued. Adopted Accounting Standards Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued updated guidance (Accounting Standards Update 2016-13) for the accounting for credit losses for financial instruments. The updated guidance applied a new credit loss model (current expected credit losses or CECL) for determining credit-related impairments for financial instruments measured at amortized cost (e.g. reinsurance recoverables, including structured settlements that are recorded as part of reinsurance recoverables) and required an entity to estimate the credit losses expected over the life of an exposure or pool of exposures. 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 longer impact the determination of whether a credit loss exists. The Company adopted this standard in first quarter 2023 on a modified retrospective basis. The cumulative effect adjustment to January 1, 2023 accumulated earnings for the adoption of this standard was a charge of $230,036. Troubled Debt Restructurings and Vintage Disclosures In March 2022, the FASB issued amendments (Accounting Standards Update 2022-2) for the accounting of troubled debt restructuring and disclosures. The amendments introduced new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulties. The amendments promulgated that an entity must apply specific loan refinancing and restructuring guidance to determine whether a modification results in a new loan or the continuation of an existing loan. The amendments also required that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases. The Company adopted the amendments in this standard in first quarter 2023. The adoption of this guidance did not have a material effect on the Company’s results of operations, financial position or liquidity. Recent Accounting Pronouncements Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued updated guidance (Accounting Standards Update 2018-12) to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. This update improves the timeliness of recognizing changes in the liability for future policy benefits, modifies the rate used to discount future cash flows, simplifies and improves accounting for certain market-based options or guarantees associated with deposit (i.e., account balance) contracts, simplifies the amortization of deferred acquisitions costs and expands required disclosures. The expanded disclosure requires an insurance entity to provide disaggregated roll forwards of beginning to ending balances of the following: liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities and deferred acquisition costs including disclosure about, changes to and effect of changes for significant inputs, judgments, assumptions and methods used in measurements. The updated guidance was effective for reporting periods beginning after December 15, 2020. As a Smaller Reporting Company, the effective date has been changed twice and the delayed effective date is now for reporting periods beginning after December 15, 2024 and interim periods within fiscal years beginning after December 15, 2025. Early adoption is permitted but not likely to be elected by the Company. With respect to the liability for future policyholder benefits for traditional and limited-payment contracts and deferred acquisition costs, an insurance entity may elect to apply the amendments retrospectively as of the beginning of the earliest period presented. With respect to the market risk benefits, an insurance entity should apply the amendments retrospectively as of the beginning of the earliest period presented. The Company expects that the impact on the Company’s results of operations, financial position and liquidity at the date of adoption of the updated guidance in 2025 will be determined by the long-duration contracts then held by the Company and the economic conditions at that time. Transition for Sold Contracts In December 2022, the FASB issued amendments (Accounting Standards Update 2022-5) to Accounting Standards Update 2018-12 (Targeted Improvements for Long-Duration Contracts) that originally required an insurance entity to apply a retrospective transition method as of the beginning of the earliest period presented or the beginning of the prior fiscal year if early application was elected. This updated guidance reduces implementation costs and complexity associated with the adoption of targeted improvements in accounting for long-duration contracts that have been derecognized in accordance with Accounting Standards Update 2018-12 before the delayed effective date. Without the amendments in this Update, an insurance entity would be required to reclassify a portion of gains or losses previously recognized in the sale or disposal of insurance contracts or legal entities because of the adoption of a new accounting standard. Because there is no effect on an insurance entity’s future cash flows, this reclassification may not be useful to users of financial information. The amendments in this guidance are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted but not likely to be elected by the Company. The Company expects that the impact on the Company’s results of operations, financial position and liquidity at the date of adoption of the updated guidance in 2025 will be determined by the long-duration contracts then held by the Company and the economic conditions at that time. Improvements to Reportable Segment Disclosures In November 2023, the FASB issued amendments (Accounting Standards Update 2023-07) to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses on both an annual and interim basis. The amendments require public entities to follow the significant expense principle other segment items The amendments in this guidance are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company anticipates adopting and disclosing this Update for year-end reporting in 2024 and for interim periods beginning in 2025. Improvements to Income Tax Disclosures In December 2023, the FASB issued amendments (Accounting Standards Update 2023-09) to enhance the transparency and decision usefulness of income tax disclosures. The amendments require that public business entities on an annual basis disclose information about taxes paid and a tabular reconciliation using both percentages and amounts of specific categories in the rate reconciliation. In addition, separate disclosure is required for any reconciling item equal to or greater than five (5) percent of the amount computed by multiplying the income or loss from continuing operations before income taxes by the statutory income tax rate. If not otherwise evident, a public business entity is required to provide an explanation of the individual reconciling items such as the nature, effect and causes of the reconciling items. The amendments in this guidance are effective for public companies for fiscal years beginning after December 15, 2024. This guidance should be applied on a prospective basis but retrospective application is permitted. Early adoption is permitted. The Company anticipates adopting and disclosing this Update for year-end reporting in 2025. Cybersecurity Risk Management, Strategy, Governance and Incident Disclosures by Public Companies On July 26, 2023, the U.S. Securities and Exchange Commission adopted this Final Rule (the “Cybersecurity Final Rule”) enhancing disclosure requirements for registered companies covering cybersecurity risk and management. The Cybersecurity Final Rule requires registrants to disclose material cybersecurity incidents on Form 8-K within four business days of a determination that a cybersecurity incident is material, and such materiality determination must be made without unreasonable delay. The rule also requires periodic disclosures of, among other things, details on the company’s processes to assess, identify, and manage cybersecurity risks, cybersecurity governance, and management’s role in overseeing such a compliance program, including the board of directors’ oversight of cybersecurity risks. Certain reporting requirements under the Cybersecurity Final Rule become effective as early as December 2023. The Company has never had a material cyber security incident but will follow the Cybersecurity Final Rule regarding timely disclosure of a material cyber security incident. The Company has also disclosed its strategy and governance with respect to its cybersecurity risk management program in this June 30, 2024 Form 10-Q.

Note 2 - Investments

Note 2 - Investments	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	2. Investments Investments in fixed maturity available-for-sale securities as of June 30, 2024 and December 31, 2023 are summarized as follows: Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value June 30, 2024 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 5,489,746 $ - $ 20,668 $ 5,469,078 States and political subdivisions 9,177,048 7,424 455,468 8,729,004 U.S. government agency mortgage backed securities 10,868,391 17,543 45,058 10,840,876 Commercial mortgage-backed securities 11,156,574 - 1,686,459 9,470,115 Residential mortgage-backed securities 9,967 3,673 - 13,640 Corporate bonds 85,727,225 49,985 7,724,799 78,052,411 Asset-backed securities 13,270,957 5,222 895,230 12,380,949 Exchange traded securities 1,017,916 - 537,916 480,000 Foreign bonds 27,541,784 4,231 2,240,911 25,305,104 Redeemable preferred securities 1,250,000 - 238,100 1,011,900 Total fixed maturity securities $ 165,509,608 $ 88,078 $ 13,844,609 $ 151,753,077 Fixed maturity securities held in trust under coinsurance agreement $ 29,585,588 $ 10,972 $ 5,099,578 $ 24,496,982 December 31, 2023 Fixed maturity securities U.S. government and U.S. government agencies $ 3,806,419 $ 14,360 $ 22,495 $ 3,798,284 States and political subdivisions 9,773,549 97,215 338,894 9,531,870 U.S. government agency mortgage backed securities 10,097,479 208,985 - 10,306,464 Commercial mortgage-backed securities 10,629,003 - 2,157,465 8,471,538 Residential mortgage-backed securities 9,986 4,328 - 14,314 Corporate bonds 85,901,454 65,239 6,625,386 79,341,307 Asset-backed securities 12,466,601 43,424 1,017,529 11,492,496 Exchange traded securities 882,631 - 406,631 476,000 Foreign bonds 27,091,108 24,186 1,902,619 25,212,675 Redeemable preferred securities 1,250,000 - 194,000 1,056,000 Total fixed maturity securities $ 161,908,230 $ 457,737 $ 12,665,019 $ 149,700,948 Fixed maturity securities held in trust under coinsurance agreement $ 56,824,160 $ 53,496 $ 5,226,397 $ 51,651,259 All securities in an unrealized loss position as of the financial statement dates, the estimated fair value, pre-tax gross unrealized loss and number of securities by length of time that those securities have been continuously in an unrealized loss position as of June 30, 2024 and December 31, 2023 are summarized as follows: Unrealized Number of Fair Value Loss Securities June 30, 2024 (Unaudited) Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 3,442,746 $ 11,681 3 States and political subdivisions 3,498,230 67,846 10 U.S. government agency mortgage backed securities 5,480,766 45,058 9 Commercial mortgage-backed securities 514,505 481 1 Corporate bonds 3,898,459 48,359 14 Asset-backed securities 2,759,813 3,907 5 Foreign bonds 1,223,378 16,023 3 Redeemable preferred securities 682,500 67,500 2 Total less than 12 months in an unrealized loss position 21,500,397 260,855 47 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 2,026,332 8,987 3 States and political subdivisions 4,353,954 387,622 21 Commercial mortgage-backed securities 8,955,610 1,685,978 24 Corporate bonds 70,284,350 7,676,440 215 Asset-backed securities 7,454,269 891,323 21 Exchange traded securities 480,000 537,916 2 Foreign bonds 23,783,598 2,224,888 63 Redeemable preferred securities 329,400 170,600 2 Total more than 12 months in an unrealized loss position 117,667,513 13,583,754 351 Total fixed maturity securities in an unrealized loss position $ 139,167,910 $ 13,844,609 398 Fixed maturity securities held in trust under coinsurance agreement Total less than 12 months in an unrealized loss position $ 534,820 $ 9,659 4 Total more than 12 months in an unrealized loss position 22,942,534 5,089,919 94 Total fixed maturity securities held in trust under coinsurance agreement in a unrealized loss position $ 23,477,354 $ 5,099,578 98 December 31, 2023 Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 231,010 $ 100 1 States and political subdivisions 120,734 588 1 Corporate bonds 3,762,988 78,589 14 Foreign bonds 502,835 8,573 2 Total less than 12 months in an unrealized loss position 4,617,567 87,850 18 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 1,876,612 22,395 3 States and political subdivisions 4,411,017 338,306 21 Commercial mortgage-backed securities 8,471,538 2,157,465 24 Corporate bonds 72,550,042 6,546,797 214 Asset-backed securities 7,390,830 1,017,529 20 Exchange traded securities 476,000 406,631 2 Foreign bonds 23,164,587 1,894,046 61 Redeemable preferred securities 306,000 194,000 2 Total more than 12 months in an unrealized loss position 118,646,626 12,577,169 347 Total fixed maturity securities in an unrealized loss position $ 123,264,193 $ 12,665,019 365 Fixed maturity securities held in trust under coinsurance agreement Total less than 12 months in an unrealized loss position $ 1,400,820 $ 5,810 7 Total more than 12 months in an unrealized loss position 47,082,945 5,220,587 180 Total fixed maturity securities held in trust under coinsurance agreement in a unrealized loss position $ 48,483,765 $ 5,226,397 187 As of June 30, 2024, the Company held 398 available-for-sale fixed maturity securities with an unrealized loss of $13,844,609, fair value of $139,167,910 and amortized cost of $153,012,519. These unrealized losses were primarily due to the market interest rate movements in the bond market as of June 30, 2024. The ratio of the fair value to the amortized cost of these 398 securities is 91%. As of December 31, 2023, the Company held 365 available-for-sale fixed maturity securities with an unrealized loss of $12,665,019, fair value of $123,264,193 and amortized cost of $135,929,212. These unrealized losses were primarily due to market interest rate movements in the bond market as of December 31, 2023. The ratio of the fair value to the amortized cost of these 365 securities is 91%. The change in the current estimate of credit losses on fixed maturity available-for-sale securities for the six months ended June 30, 2024 and December 31, 2023, are summarized as follows: (Unaudited) June 30, 2024 December 31, 2023 Beginning balance $ (430,470 ) $ - Cumulative adjustment to accumulated earnings as of January 1, 2023 - (291,185 ) Current estimate of credit losses (136,572 ) (139,285 ) Ending balance $ (567,042 ) $ (430,470 ) 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 June 30, 2024 and December 31, 2023, are summarized as follows: (Unaudited) June 30, 2024 December 31, 2023 Unrealized depreciation on available-for-sale securities $ (13,756,531 ) $ (12,207,282 ) Adjustment to deferred acquisition costs 3,188 3,094 Deferred income taxes 2,888,202 2,562,880 Net unrealized depreciation on available-for-sale securities $ (10,865,141 ) $ (9,641,308 ) Assets held in trust under coinsurance agreement Unrealized depreciation on fixed maturity securities available-for-sale $ (5,088,606 ) $ (5,172,901 ) The Company’s investment in lottery prize cash flows categorized as other long-term investments in the statement of financial position was $60,810,561 and $61,487,939 as of June 30, 2024 and December 31, 2023, respectively. The lottery prize cash flows are assignments of the future rights from lottery winners purchased at a discounted price. Payments on these investments are made by state run lotteries. The amortized cost and fair value of fixed maturity available-for-sale securities and other long-term investments as of June 30, 2024, by contractual maturity, are summarized as follows: June 30, 2024 (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 $ 2,579,084 $ 2,642,253 $ 13,901,762 $ 14,086,179 Due after one year through five years 40,794,663 38,795,181 31,122,970 33,030,861 Due after five years through ten years 21,054,382 19,784,075 10,845,771 12,637,392 Due after ten years 88,664,939 80,035,915 4,940,058 6,545,072 Due at multiple maturity dates 12,416,540 10,495,653 - - $ 165,509,608 $ 151,753,077 $ 60,810,561 $ 66,299,504 The amortized cost and fair value of fixed maturity available-for-sale securities held in trust under coinsurance agreement as of June 30, 2024, by contractual maturity, are summarized as follows: June 30, 2024 (Unaudited) Fixed Maturity Available-For-Sale Securities Amortized Cost Fair Value Due in one year or less $ 279,709 $ 275,520 Due after one year through five years 6,476,911 6,184,065 Due after five years through ten years 2,722,501 2,752,358 Due after ten years 17,305,574 12,883,235 Due at multiple maturity dates 2,800,893 2,401,804 $ 29,585,588 $ 24,496,982 Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Proceeds and gross realized gains (losses) from the sales, calls and maturities of fixed maturity securities available-for-sale, mortgage loans on real estate and investment real estate for the three and six months ended June 30, 2024 and 2023 are summarized as follows: Three Months Ended June 30, (Unaudited) Fixed Maturity Securities Mortgage Loans on Real Estate Investment Real Estate 2024 2023 2024 2023 2024 2023 Proceeds $ 2,418,152 $ 730,108 $ 36,322,107 $ - $ - $ - Gross realized gains 24,791 2,062 - - - - Gross realized losses (67,206 ) (33,343 ) (34,442 ) - - - Loss on impairments - - - - (129,436 ) - Six Months Ended June 30, (Unaudited) Fixed Maturity Securities Mortgage Loans on Real Estate Investment Real Estate 2024 2023 2024 2023 2024 2023 Proceeds $ 3,451,501 $ 2,513,558 $ 72,861,854 $ - $ - $ - Gross realized gains 25,165 17,961 59,858 - - - Gross realized losses (69,278 ) (67,564 ) (34,442 ) - - - Loss on impairments - - - - (129,436 ) - The accumulated change in unrealized investment gains (losses) for fixed maturity available-for-sale securities for the three and six months ended June 30, 2024 and 2023 and the amount of net realized investment gains (losses) on fixed maturity securities available-for-sale, equity securities and mortgage loans on real estate for the three and six months ended June 30, 2024 and 2023 are summarized as follows: Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2024 2023 2024 2023 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ (853,124 ) $ (1,833,772 ) $ (1,549,249 ) $ 1,761,486 Fixed maturity securities held in trust under coinsurance agreement 124,551 (471,798 ) 84,295 585,982 Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities (42,415 ) (31,281 ) (44,113 ) (49,603 ) Fixed maturity securities credit losses (79,477 ) (76,709 ) (136,572 ) (83,632 ) Equity securities, changes in fair value (3,631 ) (4,080 ) 35,365 (10,286 ) Mortgage loans on real estate (34,442 ) - 25,416 - Major categories of net investment income for the three and six months ended June 30, 2024 and 2023 are summarized as follows: Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2024 2023 2024 2023 Fixed maturity securities $ 1,908,083 $ 1,473,021 $ 3,670,108 $ 3,033,054 Equity securities 38,118 77,860 52,752 106,115 Other long-term investments 1,124,968 1,287,139 2,292,211 2,647,469 Mortgage loans 4,490,460 4,594,059 9,437,977 9,318,415 Policy loans 66,039 57,384 134,790 113,960 Short-term and other investments 662,925 774,735 1,135,364 1,269,413 Gross investment income 8,290,593 8,264,198 16,723,202 16,488,426 Investment expenses (622,176 ) (817,802 ) (1,096,908 ) (1,414,214 ) Net investment income $ 7,668,417 $ 7,446,396 $ 15,626,294 $ 15,074,212 TLIC and FBLIC are required to hold assets on deposit with various state insurance departments for the benefit of policyholders and other special deposits in accordance with statutory rules and regulations. As of June 30, 2024 and December 31, 2023, these required deposits, included in investment assets, had amortized costs that totaled $6,291,641 and $4,609,927, respectively. As of June 30, 2024 and December 31, 2023, these required deposits had fair values that totaled $6,252,290 and $4,596,130, respectively. The Company’s mortgage loans by property type as of June 30, 2024 and December 31, 2023 are summarized as follows: (Unaudited) June 30, 2024 December 31, 2023 Residential mortgage loans $ 189,541,335 $ 224,258,534 Commercial mortgage loans by property type Agricultural 981,698 986,207 Apartment 2,318,071 3,108,829 Industrial 377,221 1,267,264 Lodging 24,300 24,727 Office building 5,748,515 5,652,487 Retail 4,925,831 4,533,399 Total commercial mortgage loans by property type 14,375,636 15,572,913 Total mortgage loans $ 203,916,971 $ 239,831,447 Mortgage loans held in trust under coinsurance agreement Commercial mortgage loans $ 16,725,674 $ 27,714,891 Less unearned interest on mortgage loans 4,344 133,010 Total mortgage loans held in trust under coinsurance agreement $ 16,721,330 $ 27,581,881 There were 27 mortgage loans with a remaining principal balance of $7,375,244 that were more than 90 days past due as of June 30, 2024. There were 22 mortgage loans with a remaining principal balance of $6,027,499 that were more than 90 days past due as of June 30, 2023. There were 11 mortgage loans in default and in the foreclosure process with a remaining principal balance of $4,130,357 as of June 30, 2024. There were seven The Company’s investment real estate as of June 30, 2024 and December 31, 2023 is summarized as follows: (Unaudited) June 30, 2024 December 31, 2023 Land - held for investment $ 411,000 $ 540,436 Residential real estate - held for sale 1,328,048 764,967 Total investment in real estate $ 1,739,048 $ 1,305,403 TLIC owns approximately three acres of undeveloped land located in Topeka, Kansas with a carrying value of $280,000. During 2024, the company recognized an impairment loss of $129,436 from a market value appraisal that resulted in fair value estimation less than the carrying value. FBLIC owns approximately one-half During 2024, the Company foreclosed on residential mortgage loans of real estate totaling $563,081 and transferred those properties to investment real estate held for sale. During 2023, the Company foreclosed on residential mortgage loans of real estate totaling $764,967 and transferred those properties to investment real estate held for sale.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) on the measurement date. The Company also considers the impact on fair value of a significant decrease in volume and level of activity for an asset or liability when compared with normal activity. The Company holds fixed maturity and equity securities that are measured and reported at fair market value on the statement of financial position. The Company determines the fair market values of its financial instruments based on the fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value, as follows: Level 1 Level 2 Level 3 The Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into the three-level fair value hierarchy. If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the valuation inputs, or their ability to be observed, may result in a reclassification for certain financial assets or liabilities. Reclassifications impacting Level 3 of the fair value hierarchy are reported as transfers in and out of the Level 3 category as of the beginning of the period in which the reclassifications occur. The Company’s fair value hierarchy for those financial instruments measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023 is summarized as follows: Level 1 Level 2 Level 3 Total June 30, 2024 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 5,469,078 $ - $ 5,469,078 States and political subdivisions - 8,729,004 - 8,729,004 U.S. government agency mortgage backed securities 10,840,876 10,840,876 Commercial mortgage-backed securities - 9,470,115 - 9,470,115 Residential mortgage-backed securities - 13,640 - 13,640 Corporate bonds - 78,052,411 - 78,052,411 Asset-backed securities - 12,380,949 - 12,380,949 Exchange traded securities - 480,000 - 480,000 Foreign bonds - 25,305,104 - 25,305,104 Redeemable preferred securities - 1,011,900 - 1,011,900 Total fixed maturity securities $ - $ 151,753,077 $ - $ 151,753,077 Fixed maturity securities, available-for-sale held in trust under coinsurance agreement $ - $ 24,496,982 $ - $ 24,496,982 Equity securities Mutual funds $ - $ 50,625 $ - $ 50,625 Corporate common stock 339,030 - 57,373 396,403 Total equity securities $ 339,030 $ 50,625 $ 57,373 $ 447,028 December 31, 2023 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 3,798,284 $ - $ 3,798,284 States and political subdivisions - 9,531,870 - 9,531,870 U.S. government agency mortgage backed securities - 10,306,464 - 10,306,464 Commercial mortgage-backed securities - 8,471,538 - 8,471,538 Residential mortgage-backed securities - 14,314 - 14,314 Corporate bonds - 79,341,307 - 79,341,307 Asset-backed securities - 11,492,496 - 11,492,496 Exchange traded securities - 476,000 - 476,000 Foreign bonds - 25,212,675 - 25,212,675 Redeemable preferred securities - 1,056,000 - 1,056,000 Total fixed maturity securities $ - $ 149,700,948 $ - $ 149,700,948 Fixed maturity securities, available-for-sale held in trust under coinsurance agreement $ - $ 51,651,259 $ - $ 51,651,259 Equity securities Mutual funds $ - $ 50,226 $ - $ 50,226 Corporate common stock 304,064 - 65,240 369,304 Total equity securities $ 304,064 $ 50,226 $ 65,240 $ 419,530 As of June 30, 2024 and December 31, 2023, Level 3 financial instruments consisted of a private placement common stock that has no active trading and a joint venture investment with a mortgage loan originator. 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 and Level 2 assets for the Company’s fixed maturity available-for-sale and equity securities are primarily based on prices supplied by a third party investment service. The third party investment service provides quoted prices in the market which use observable inputs in developing such rates. The Company analyzes market valuations received to verify reasonableness and to understand the key assumptions used and the sources. Since the fixed maturity securities owned by the Company do not trade on a daily basis, the third party investment service prepares estimates of fair value measurements using relevant market data, benchmark curves, sector groupings and matrix pricing. As the fair value estimates of the Company’s fixed maturity securities are based on observable market information rather than market quotes, the estimates of fair value on these fixed maturity securities are included in Level 2 of the hierarchy. The Company’s Level 2 investments include obligations of U.S. government and U.S. government agencies, state and political subdivisions, U.S. government agency mortgage backed securities, commercial and residential mortgage-backed securities, corporate bonds, asset-backed securities, exchange traded securities, foreign bonds and redeemable preferred stocks. The Company’s equity securities are included in Level 1 and Level 2 and the private placement common stocks and joint venture investment are included in Level 3. Level 1 for the equity securities classified as such is appropriate since they trade on a daily basis, are based on quoted market prices in active markets and are based upon unadjusted prices. Level 2 for those equity securities classified as such is appropriate since they are not actively traded. 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 equity securities available-for-sale for the six months ended June 30, 2024 and December 31, 2023 is summarized as follows: (Unaudited) June 30, 2024 December 31, 2023 Beginning balance $ 65,240 $ 53,996 Joint venture net income 45,542 130,550 Joint venture distribution (53,409 ) (119,306 ) Ending balance $ 57,373 $ 65,240 The carrying amount and fair value of the Company’s financial assets and financial liabilities disclosed, but not carried, at fair value as of June 30, 2024 and December 31, 2023, and the level within the fair value hierarchy at which such assets and liabilities are measured on a recurring basis are summarized as follows: Financial instruments disclosed, but not carried, at fair value: Carrying Fair Amount Value Level 1 Level 2 Level 3 June 30, 2024 (Unaudited) Financial assets Mortgage loans on real estate Commercial $ 14,375,636 $ 13,759,141 $ - $ - $ 13,759,141 Residential 189,541,335 159,908,924 - - 159,908,924 Policy loans 3,742,282 3,742,282 - - 3,742,282 Short-term investments - - - - - Other long-term investments 60,810,561 66,299,504 - - 66,299,504 Cash and cash equivalents 61,812,030 61,812,030 61,812,030 - - Accrued investment income 5,599,372 5,599,372 - - 5,599,372 Total financial assets $ 335,881,216 $ 311,121,253 $ 61,812,030 $ - $ 249,309,223 Held in trust under coinsurance agreement Mortgage loans on real estate Commercial $ 16,725,674 $ 16,725,674 $ - $ - $ 16,725,674 Less unearned interest on mortgage loans 4,344 4,344 - - 4,344 Cash and cash equivalents 143,740 143,740 143,740 - - Total financial assets held in trust under coinsurance agreement $ 16,865,070 $ 16,865,070 $ 143,740 $ - $ 16,721,330 Policyholders' account balances $ 361,873,240 $ 309,068,671 $ - $ - $ 309,068,671 Policy claims 2,467,191 2,467,191 - - 2,467,191 Total financial liabilities $ 364,340,431 $ 311,535,862 $ - $ - $ 311,535,862 December 31, 2023 Financial assets Mortgage loans on real estate Commercial $ 15,572,913 $ 14,803,724 $ - $ - $ 14,803,724 Residential 224,258,534 196,514,414 - - 196,514,414 Policy loans 3,474,116 3,474,116 - - 3,474,116 Short-term investments 298,257 298,257 298,257 - - Other long-term investments 61,487,939 68,023,717 - - 68,023,717 Cash and cash equivalents 33,839,741 33,839,741 33,839,741 - - Accrued investment income 6,214,459 6,214,459 - - 6,214,459 Total financial assets $ 345,145,959 $ 323,168,428 $ 34,137,998 $ - $ 289,030,430 Held in trust under coinsurance agreement Mortgage loans on real estate Commercial $ 27,714,891 $ 27,714,891 $ - $ - $ 27,714,891 Less unearned interest on mortgage loans 133,010 133,010 - - 133,010 Cash and cash equivalents 711,733 711,733 711,733 - - Total financial assets held in trust under coinsurance agreement $ 28,293,614 $ 28,293,614 $ 711,733 $ - $ 27,581,881 Financial liabilities Policyholders' account balances $ 391,247,676 $ 344,806,580 $ - $ - $ 344,806,580 Policy claims 2,410,243 2,410,243 - - 2,410,243 Total financial liabilities $ 393,657,919 $ 347,216,823 $ - $ - $ 347,216,823 The estimated fair value amounts have been determined using available market information and appropriate valuation methodologies. However, considerable judgment was required to interpret market data to develop these estimates. Accordingly, the estimates are not necessarily indicative of the amounts which could be realized in a current market exchange. The use of different market assumptions or estimation methodologies may have a material effect on the fair value amounts. 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, Level 2 and Level 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. 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 of the fair value hierarchy due to their highly liquid nature. 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 required to be disclosed. Policy Claims The carrying amounts reported for these liabilities approximate their fair value.

Note 4 - Segment Data

Note 4 - Segment Data	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	4. Segment Data The Company has a life insurance segment, consisting of the life insurance operations of TLIC, FBLIC and TAI, an annuity segment, consisting of the annuity operations of TLIC, FBLIC and TAI and a corporate segment. Results for the parent company and the operations of TMC, after elimination of intercompany amounts, are allocated to the corporate segment. These segments as of June 30, 2024 and December 31, 2023 and for the three and six months ended June 30, 2024 and 2023 are summarized as follows: Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2024 2023 2024 2023 Revenues: Life insurance operations $ 12,282,831 $ 11,252,874 $ 24,133,009 $ 22,078,689 Annuity operations 5,265,190 5,708,580 11,443,705 11,789,734 Corporate operations 595,109 1,091,419 1,108,624 1,872,391 Total $ 18,143,130 $ 18,052,873 $ 36,685,338 $ 35,740,814 Income (loss) before income taxes: Life insurance operations $ 1,039,421 $ 941,086 $ 2,927,650 $ 692,811 Annuity operations 161,114 158,696 768,716 1,168,394 Corporate operations 587,807 799,414 369,578 1,285,918 Total $ 1,788,342 $ 1,899,196 $ 4,065,944 $ 3,147,123 Depreciation and amortization expense: Life insurance operations $ 2,262,786 $ 1,933,322 $ 4,286,093 $ 3,689,837 Annuity operations 452,179 398,214 805,920 731,352 Total $ 2,714,965 $ 2,331,536 $ 5,092,013 $ 4,421,189 (Unaudited) June 30, 2024 December 31, 2023 Assets: Life insurance operations $ 163,941,549 $ 164,653,497 Annuity operations 444,913,161 495,979,724 Corporate operations 11,276,511 11,388,314 Total $ 620,131,221 $ 672,021,535

Note 5 - Federal Income Taxes

Note 5 - Federal Income Taxes	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	5. Federal Income Taxes The provision for federal income taxes is based on the asset and liability method of accounting for income taxes. Deferred income taxes are provided for the cumulative temporary differences between balances of assets and liabilities determined under GAAP and the balances using tax bases. The Company has no known uncertain tax benefits within its provision for income taxes. In addition, the Company does not believe it would be subject to any penalties or interest relative to any open tax years and, therefore, has not accrued any such amounts. The Company files U.S. federal income tax returns and income tax returns in various state jurisdictions. The 2020 through 2022 U.S. federal tax years are subject to income tax examination by tax authorities. The Company classifies any interest and penalties (if applicable) as income tax expense in the financial statements.

Note 6 - Contingent Liabilities

Note 6 - Contingent Liabilities	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Contingencies Disclosure [Text Block]	6. Contingent Liabilities 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 have a material effect on the Company’s financial position, results of operations or cash flow. We are not currently a party to any bankruptcy, receivership, reorganization, adjustment or similar proceeding, and we are not aware of any material threatened litigation. As summarized below, the Company is currently involved in 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 the District Court of Tulsa County, Oklahoma against former Company Board of Director, C. Wayne Pettigrew (“Mr. Pettigrew”). The Company and Mr. Zahn alleged that Mr. Pettigrew defamed Mr. Zahn and the Company and that Mr. Pettigrew breached his fiduciary duties to the Company by making untrue statements about the Company and Mr. Zahn to the press, state regulators and to certain shareholders. In February 2017, the lawsuit resulted in a jury verdict in favor of the Company and Mr. Zahn, with the jury awarding damages of $800,000 to the Company and $3,500,000 to Mr. Zahn. In February 2020, the Oklahoma Court of Civil Appeals, upon an appeal by Mr. Pettigrew, reversed the judgment and remanded the case for a new trial. A Petition for Certiorari review with the Oklahoma Supreme Court by the Company and Mr. Zahn was declined in December, 2020. The case is now scheduled to be retried in the District Court once a trial date is set. The Company is vigorously prosecuting this case. The Company faces no exposure in connection with this action since there were no counterclaims or cross claims made against the Company. Management believes that this lawsuit is not material in relation to the Company’s financial position or results of operations. The Company, through its life insurance subsidiary, TLIC, commenced two one 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 be taken as a credit against premium taxes, typically over a five-year period.

Note 7 - Other Comprehensive In

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	7. Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss The changes in the components of the Company’s accumulated other comprehensive loss for the three and six months ended June 30, 2024 and 2023 are summarized as follows: Three Months Ended June 30, 2024 and 2023 (Unaudited) Unrealized Accumulated Depreciation on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Loss Balance as of April 1, 2024 $ (10,193,705 ) $ 2,381 $ (10,191,324 ) Other comprehensive loss before reclassifications, net of tax (707,476 ) 151 (707,325 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax (33,508 ) - (33,508 ) Other comprehensive loss (673,968 ) 151 (673,817 ) Balance as of June 30, 2024 $ (10,867,673 ) $ 2,532 $ (10,865,141 ) Balance as of April 1, 2023 $ (11,253,426 ) $ 3,174 $ (11,250,252 ) Other comprehensive loss before reclassifications, net of tax (1,473,391 ) 287 (1,473,104 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax (24,712 ) - (24,712 ) Other comprehensive loss (1,448,679 ) 287 (1,448,392 ) Balance as of June 30, 2023 $ (12,702,105 ) $ 3,461 $ (12,698,644 ) Six Months Ended June 30, 2024 and 2023 (Unaudited) Unrealized Accumulated Depreciation on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Loss Balance as of January 1, 2024 $ (9,643,766 ) $ 2,458 $ (9,641,308 ) Other comprehensive loss before reclassifications, net of tax (1,258,756 ) 74 (1,258,682 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax (34,849 ) - (34,849 ) Other comprehensive loss (1,223,907 ) 74 (1,223,833 ) Balance as of June 30, 2024 $ (10,867,673 ) $ 2,532 $ (10,865,141 ) 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 1,352,388 (575 ) 1,351,813 Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax (39,186 ) - (39,186 ) Other comprehensive income 1,391,574 (575 ) 1,390,999 Balance as of June 30, 2023 $ (12,702,105 ) $ 3,461 $ (12,698,644 ) The pretax components of the Company’s other comprehensive income (loss) and the related income tax expense (benefit) for each component for the three and six months ended June 30, 2024 and 2023 are summarized as follows: Three Months Ended June 30, 2024 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (895,539 ) $ (188,063 ) $ (707,476 ) Reclassification adjustment for net losses included in operations having no credit losses (42,415 ) (8,907 ) (33,508 ) Net unrealized losses on investments (853,124 ) (179,156 ) (673,968 ) Adjustment to deferred acquisition costs 191 40 151 Total other comprehensive loss $ (852,933 ) $ (179,116 ) $ (673,817 ) Three Months Ended June 30, 2023 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (1,865,053 ) $ (391,662 ) $ (1,473,391 ) Reclassification adjustment for net losses included in operations having no credit losses (31,281 ) (6,569 ) (24,712 ) Net unrealized losses on investments (1,833,772 ) (385,093 ) (1,448,679 ) Adjustment to deferred acquisition costs 363 76 287 Total other comprehensive loss $ (1,833,409 ) $ (385,017 ) $ (1,448,392 ) Six Months Ended June 30, 2024 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (1,593,362 ) $ (334,606 ) $ (1,258,756 ) Reclassification adjustment for net losses included in operations having no credit losses (44,113 ) (9,264 ) (34,849 ) Net unrealized losses on investments (1,549,249 ) (325,342 ) (1,223,907 ) Adjustment to deferred acquisition costs 94 20 74 Total other comprehensive loss $ (1,549,155 ) $ (325,322 ) $ (1,223,833 ) Six Months Ended June 30, 2023 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive income: Change in net unrealized losses on available-for-sale securities: Unrealized holding gains arising during the period $ 1,711,883 $ 359,495 $ 1,352,388 Reclassification adjustment for net losses included in operations having no credit losses (49,603 ) (10,417 ) (39,186 ) Net unrealized gains on investments 1,761,486 369,912 1,391,574 Adjustment to deferred acquisition costs (728 ) (153 ) (575 ) Total other comprehensive income $ 1,760,758 $ 369,759 $ 1,390,999 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 loss to the Company’s consolidated statement of operations for the three and six months ended June 30, 2024 and 2023 are summarized as follows: Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) Reclassification Adjustments 2024 2023 2024 2023 Unrealized losses on available-for-sale securities having no credit losses: Realized losses on sales of securities (a) $ (42,415 ) $ (31,281 ) $ (44,113 ) $ (49,603 ) Income tax benefit (b) (8,907 ) (6,569 ) (9,264 ) (10,417 ) Total reclassification adjustments $ (33,508 ) $ (24,712 ) $ (34,849 ) $ (39,186 ) (a) These items appear within net realized investment(losses in the consolidated statements of operations. (b) These items appear within federal income taxes in the consolidated statements of operations.

Note 8 - Allowance for Loan Los

Note 8 - Allowance for Loan Losses From Mortgage Loans on Real Estate	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Premiums Receivable Note [Text Block]	8. Allowance for Loan Losses from Mortgage Loans on Real Estate As of June 30, 2024, $865,299 of independent residential mortgage loans on real estate is held in escrow by a third party for the benefit of the Company. As of June 30, 2024, $846,442 of that escrow amount is available to the Company as additional collateral on $4,866,574 of advances to the loan originator. The remaining June 30, 2024 escrow amount of $18,857 is available to the Company as additional collateral on its investment of $3,771,488 in residential mortgage loans on real estate. In addition, the Company has an additional $1,005,756 allowance for possible loan losses in the remaining $200,145,483 of investments in mortgage loans on real estate as of June 30, 2024. As of December 31, 2023, $890,915 of independent residential mortgage loans on real estate are held in escrow by a third party for the benefit of the Company. As of December 31, 2023, $850,039 of that escrow amount is available to the Company as additional collateral on $4,487,715 of advances to the loan originator. The remaining December 31, 2023 escrow amount of $40,876 is available to the Company as additional collateral on its investment of $8,175,212 in mortgage loans on real estate. In addition, the Company has an additional $1,164,102 allowance for possible loan losses in the remaining $231,656,235 of investments in mortgage loans on real estate as of December 31, 2023. As of June 30, 2024, the Company’s Chairman, President and Chief Executive Officer has provided approximately $2,040,000 of loans to this mortgage loan originator. The balances of and changes in the Company’s credit losses related to mortgage loans on real estate as of and for the three and six months ended June 30, 2024 and 2023 are summarized as follows (excluding $3,771,488 and $13,887,039 of mortgage loans on real estate as of June 30, 2024 and 2023, respectively, with one loan originator where independent mortgage loan balances are held in escrow by a third party for the benefit of the Company): Unaudited Three Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2024 2023 2024 2023 2024 2023 Allowance, beginning $ 983,456 $ 996,924 $ 68,505 $ 89,242 $ 1,051,961 $ 1,086,166 Charge offs - - - - - - Recoveries - - - - - - Provision (49,939 ) 79,704 3,734 (5,996 ) (46,205 ) 73,708 Allowance, ending $ 933,517 $ 1,076,628 $ 72,239 $ 83,246 $ 1,005,756 $ 1,159,874 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 933,517 $ 1,076,628 $ 72,239 $ 83,246 $ 1,005,756 $ 1,159,874 Carrying Values: Individually evaluated for reserve allowance $ - $ - $ - $ - $ - $ - Collectively evaluated for reserve allowance $ 185,769,847 $ 214,249,269 $ 14,375,636 $ 16,565,890 $ 200,145,483 $ 230,815,159 (Unaudited) Six Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2024 2023 2024 2023 2024 2023 Allowance, beginning $ 1,085,919 $ 1,030,424 $ 78,183 $ 90,024 $ 1,164,102 $ 1,120,448 Charge offs - - - - - - Recoveries - - - - - - Provision (152,402 ) 46,204 (5,944 ) (6,778 ) (158,346 ) 39,426 Allowance, ending $ 933,517 $ 1,076,628 $ 72,239 $ 83,246 $ 1,005,756 $ 1,159,874 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 933,517 $ 1,076,628 $ 72,239 $ 83,246 $ 1,005,756 $ 1,159,874 Carrying Values: Individually evaluated for reserve allowance $ - $ - $ - $ - $ - $ - Collectively evaluated for reserve allowance $ 185,769,847 $ 214,249,269 $ 14,375,636 $ 16,565,890 $ 200,145,483 $ 230,815,159 The Company utilizes the ratio of the carrying value of individual mortgage loans compared to the individual appraisal value to evaluate the credit quality of its mortgage loans on real estate (commonly referred to as the loan-to-value ratio). The Company’s residential and commercial mortgage loans on real estate by credit quality using this ratio as of June 30, 2024 and December 31, 2023 are summarized as follows: Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Over 70% to 80% $ 65,094,146 $ 75,718,654 $ 2,095,208 $ 2,099,950 $ 67,189,354 $ 77,818,604 Over 60% to 70% 54,075,432 65,525,308 1,487,939 2,958,186 55,563,371 68,483,494 Over 50% to 60% 30,306,310 38,548,660 1,310,257 1,809,817 31,616,567 40,358,477 Over 40% to 50% 22,187,339 22,283,148 4,051,050 2,394,557 26,238,389 24,677,705 Over 30% to 40% 8,891,350 10,056,308 3,367,121 3,817,212 12,258,471 13,873,520 Over 20% to 30% 4,982,893 7,929,094 770,322 463,856 5,753,215 8,392,950 Over 10% to 20% 3,172,296 3,178,001 447,989 1,714,394 3,620,285 4,892,395 10% or less 831,569 1,019,361 845,750 314,941 1,677,319 1,334,302 Total $ 189,541,335 $ 224,258,534 $ 14,375,636 $ 15,572,913 $ 203,916,971 $ 239,831,447

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Item 5. Other Information None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Stockholders' Equity, Policy [Policy Text Block]	Company Capitalization The Company raised $1,450,000 from two two one The Company also issued 702,685 shares of its common stock in connection with two 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, FTFC acquired 100% of the outstanding common stock of First Life America Corporation (“FLAC”) from an unaffiliated company. The acquisition of FLAC was accounted for as a purchase. The aggregate purchase price for FLAC was $2,695,234 including direct costs associated with the acquisition of $195,234. The acquisition of FLAC was financed with the working capital of FTFC. On December 31, 2008, FTFC made FLAC a 15 year loan in the form of a surplus note in the amount of $250,000 with an interest rate of 6% payable monthly, that was approved by the Oklahoma Insurance Department (“OID”). This surplus note is eliminated in consolidation. On August 31, 2009, two On December 28, 2011, TLIC acquired 100% of the outstanding common stock of FBLIC from FBLIC’s shareholders. The acquisition of FBLIC was accounted for as a purchase. The aggregate purchase price for the acquisition of FBLIC was $13,855,129. The acquisition of FBLIC was financed with the working capital of TLIC. On April 28, 2015, the Company acquired a block of life insurance policies and annuity contracts according to the terms of an assumption reinsurance agreement. The Company acquired assets of $3,644,839, assumed liabilities of $3,055,916 and recorded a gain on reinsurance assumption of $588,923. On April 3, 2018, FTFC acquired 100% of the outstanding stock of TAI domiciled in Barbados, West Indies. The Barbados regulators approved the acquisition and supplied certifications during 2019. The aggregate purchase price for the acquisition of TAI was $250,000. The acquisition of TAI was financed with the working capital of FTFC. Effective January 1, 2020, the Company acquired 100% of the outstanding common stock of K-TENN insurance company (“K-TENN”) from its sole shareholder in exchange for 168,866 shares of FTFC’s common stock. The acquisition of K-TENN was accounted for as a purchase. The aggregate purchase price of K-TENN was $1,746,240. Immediately subsequent to this acquisition, the $1,746,240 of net assets and liabilities of K-TENN along with the related life insurance business operations were contributed to TLIC. On January 4, 2022, FTFC acquired Royalty Capital Life Insurance Company (“RCLIC”) from Royalty Capital Corporation (“Royalty”) in exchange for 722,644 shares of FTFC’s Class A common stock issued to unrelated parties. Royalty was dissolved immediately after FTFC acquired RCLIC. On March 1, 2022, the Missouri Department of Commerce and Insurance approved FTFC’s contribution and merger of RCLIC into FBLIC.
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-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting primarily of normal recurring accruals) considered necessary for a fair presentation of the results for the interim periods have been included. The results of operations for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the year ended December 31, 2024 or for any other interim period or for any other future year. Certain financial information which is normally included in notes to consolidated financial statements prepared in accordance with U.S. GAAP, but which is not required for interim reporting purposes, has been condensed or omitted. The accompanying consolidated financial statements and notes thereto should be read in conjunction with the financial statements and notes thereto included in the Company's report on Form 10-K for the year ended December 31, 2023. In first quarter 2023, the Company adopted Accounting Standards Update 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 change to the cost basis of the security. This determination involves a degree of uncertainty. Changes in the allowance for credit losses are recognized in earnings. The assessment and determination of whether or not a credit loss exists is based on consideration of the cash flows expected to be collected from the fixed maturity security. The Company develops those expectations after considering various factors such as agency ratings, the financial condition of the issuer or underlying obligors, payment history, payment structure of the security, industry and market conditions, underlying collateral, and other factors that may be relevant based on the facts and circumstances pertaining to individual securities. If the Company intends to sell the fixed maturity security or will be more likely than not be required to sell the fixed maturity security before recovery of its amortized cost basis, then any allowance for credit losses, if previously recorded is written off and the fixed maturity security’s amortized cost is written down to the security’s fair value as of the reporting date with any incremental impairment recorded as a charge to noninterest income. 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 be anticipated. 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 supported by funds held in escrow based on historical patterns. The Company’s foreclosed properties have not resulted in accumulated losses and due to the low loan-to-value the Company holds with respect to its mortgage loans, the Company has not recorded and does not expect to record the addition to the purchase price of mortgage loans an initial allowance for credit losses to be amortized over the life of the mortgage loans. The Company will continue to record credit losses for mortgage loans not supported by funds held in escrow in accordance with its valuation policy for mortgage loans on real estate followed before 2023. 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 specifically identified loans. 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 classified as impaired. The Company determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the mortgage loan 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 recorded and does not expect to incur any current estimated credit losses on its investments in lottery prize receivables.
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 effect on previously reported net income or shareholders' equity.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results.
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 .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 longer outstanding.
Reinsurance Accounting Policy [Policy Text Block]	Funds Withheld 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 be terminated for new business by either party at any time upon 30 days prior written notice to the other party. 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 reported on the Company’s Consolidated Statements of Operations Consolidated Statements of Financial Position Consolidated Statement of Comprehensive Loss The Company’s Consolidated Statement of Cash Flows
Cybersecurity [Policy Text Block]	Cybersecurity The Company has established and continues to enhance its cybersecurity enterprise risk management program. The Company’s executive team meets formally at least monthly, and informally as needed, to set and maintain a strategy focused on achieving a high level of cybersecurity protection. The Company’s executive management team makes quarterly reports to the Company’s Board of Directors and Audit Committee. The Company’s executive management team is enhanced by the inclusion of an information technology external consultant to advise the Company’s executive management team and to focus on developing and maintaining external and internal cybersecurity. Working with Company executives and staff, the information technology consultant advises and helps the Company implement its strategy with respect to: ● Computer hardware and software, ● Security access, logging and user termination, ● In house and remote user access – user accounts, password protection, authentication, monitoring usage, intrusion detection, incident identification and related controls, ● Encryption, ● System change control, ● Data back up and remote sites, ● Data recovery, ● And Disaster recovery The Company also utilizes training to foster an environment of information security awareness, training and education. Beyond making employees aware of its cybersecurity risk management program, strategy and governance, this training also introduces all employees to many types of cybersecurity risks to introduce skepticism and enhance skills to identify and report potential situations encountered to the executive management team for further assessment.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events Management has evaluated all events subsequent to June 30, 2024 through the date that these financial statements have been issued.
New Accounting Pronouncements, Policy [Policy Text Block]	Adopted Accounting Standards Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued updated guidance (Accounting Standards Update 2016-13) for the accounting for credit losses for financial instruments. The updated guidance applied a new credit loss model (current expected credit losses or CECL) for determining credit-related impairments for financial instruments measured at amortized cost (e.g. reinsurance recoverables, including structured settlements that are recorded as part of reinsurance recoverables) and required an entity to estimate the credit losses expected over the life of an exposure or pool of exposures. 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 longer impact the determination of whether a credit loss exists. The Company adopted this standard in first quarter 2023 on a modified retrospective basis. The cumulative effect adjustment to January 1, 2023 accumulated earnings for the adoption of this standard was a charge of $230,036. Troubled Debt Restructurings and Vintage Disclosures In March 2022, the FASB issued amendments (Accounting Standards Update 2022-2) for the accounting of troubled debt restructuring and disclosures. The amendments introduced new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulties. The amendments promulgated that an entity must apply specific loan refinancing and restructuring guidance to determine whether a modification results in a new loan or the continuation of an existing loan. The amendments also required that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases. The Company adopted the amendments in this standard in first quarter 2023. The adoption of this guidance did not have a material effect on the Company’s results of operations, financial position or liquidity. Recent Accounting Pronouncements Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued updated guidance (Accounting Standards Update 2018-12) to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. This update improves the timeliness of recognizing changes in the liability for future policy benefits, modifies the rate used to discount future cash flows, simplifies and improves accounting for certain market-based options or guarantees associated with deposit (i.e., account balance) contracts, simplifies the amortization of deferred acquisitions costs and expands required disclosures. The expanded disclosure requires an insurance entity to provide disaggregated roll forwards of beginning to ending balances of the following: liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities and deferred acquisition costs including disclosure about, changes to and effect of changes for significant inputs, judgments, assumptions and methods used in measurements. The updated guidance was effective for reporting periods beginning after December 15, 2020. As a Smaller Reporting Company, the effective date has been changed twice and the delayed effective date is now for reporting periods beginning after December 15, 2024 and interim periods within fiscal years beginning after December 15, 2025. Early adoption is permitted but not likely to be elected by the Company. With respect to the liability for future policyholder benefits for traditional and limited-payment contracts and deferred acquisition costs, an insurance entity may elect to apply the amendments retrospectively as of the beginning of the earliest period presented. With respect to the market risk benefits, an insurance entity should apply the amendments retrospectively as of the beginning of the earliest period presented. The Company expects that the impact on the Company’s results of operations, financial position and liquidity at the date of adoption of the updated guidance in 2025 will be determined by the long-duration contracts then held by the Company and the economic conditions at that time. Transition for Sold Contracts In December 2022, the FASB issued amendments (Accounting Standards Update 2022-5) to Accounting Standards Update 2018-12 (Targeted Improvements for Long-Duration Contracts) that originally required an insurance entity to apply a retrospective transition method as of the beginning of the earliest period presented or the beginning of the prior fiscal year if early application was elected. This updated guidance reduces implementation costs and complexity associated with the adoption of targeted improvements in accounting for long-duration contracts that have been derecognized in accordance with Accounting Standards Update 2018-12 before the delayed effective date. Without the amendments in this Update, an insurance entity would be required to reclassify a portion of gains or losses previously recognized in the sale or disposal of insurance contracts or legal entities because of the adoption of a new accounting standard. Because there is no effect on an insurance entity’s future cash flows, this reclassification may not be useful to users of financial information. The amendments in this guidance are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted but not likely to be elected by the Company. The Company expects that the impact on the Company’s results of operations, financial position and liquidity at the date of adoption of the updated guidance in 2025 will be determined by the long-duration contracts then held by the Company and the economic conditions at that time. Improvements to Reportable Segment Disclosures In November 2023, the FASB issued amendments (Accounting Standards Update 2023-07) to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses on both an annual and interim basis. The amendments require public entities to follow the significant expense principle other segment items The amendments in this guidance are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company anticipates adopting and disclosing this Update for year-end reporting in 2024 and for interim periods beginning in 2025. Improvements to Income Tax Disclosures In December 2023, the FASB issued amendments (Accounting Standards Update 2023-09) to enhance the transparency and decision usefulness of income tax disclosures. The amendments require that public business entities on an annual basis disclose information about taxes paid and a tabular reconciliation using both percentages and amounts of specific categories in the rate reconciliation. In addition, separate disclosure is required for any reconciling item equal to or greater than five (5) percent of the amount computed by multiplying the income or loss from continuing operations before income taxes by the statutory income tax rate. If not otherwise evident, a public business entity is required to provide an explanation of the individual reconciling items such as the nature, effect and causes of the reconciling items. The amendments in this guidance are effective for public companies for fiscal years beginning after December 15, 2024. This guidance should be applied on a prospective basis but retrospective application is permitted. Early adoption is permitted. The Company anticipates adopting and disclosing this Update for year-end reporting in 2025. Cybersecurity Risk Management, Strategy, Governance and Incident Disclosures by Public Companies On July 26, 2023, the U.S. Securities and Exchange Commission adopted this Final Rule (the “Cybersecurity Final Rule”) enhancing disclosure requirements for registered companies covering cybersecurity risk and management. The Cybersecurity Final Rule requires registrants to disclose material cybersecurity incidents on Form 8-K within four business days of a determination that a cybersecurity incident is material, and such materiality determination must be made without unreasonable delay. The rule also requires periodic disclosures of, among other things, details on the company’s processes to assess, identify, and manage cybersecurity risks, cybersecurity governance, and management’s role in overseeing such a compliance program, including the board of directors’ oversight of cybersecurity risks. Certain reporting requirements under the Cybersecurity Final Rule become effective as early as December 2023. The Company has never had a material cyber security incident but will follow the Cybersecurity Final Rule regarding timely disclosure of a material cyber security incident. The Company has also disclosed its strategy and governance with respect to its cybersecurity risk management program in this June 30, 2024 Form 10-Q.

Supplemental Disclosure - Cas_2

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Six Months Ended June 30, 2024 Reductions in mortgage loans due to foreclosure $ 563,081 Investment real estate held-for-sale acquired through foreclosure (563,081 ) Net cash used in investing activities $ -

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	Gross Gross Amortized Cost Unrealized Unrealized Fair or Cost Gains Losses Value June 30, 2024 (Unaudited) Fixed maturity securities U.S. government and U.S. government agencies $ 5,489,746 $ - $ 20,668 $ 5,469,078 States and political subdivisions 9,177,048 7,424 455,468 8,729,004 U.S. government agency mortgage backed securities 10,868,391 17,543 45,058 10,840,876 Commercial mortgage-backed securities 11,156,574 - 1,686,459 9,470,115 Residential mortgage-backed securities 9,967 3,673 - 13,640 Corporate bonds 85,727,225 49,985 7,724,799 78,052,411 Asset-backed securities 13,270,957 5,222 895,230 12,380,949 Exchange traded securities 1,017,916 - 537,916 480,000 Foreign bonds 27,541,784 4,231 2,240,911 25,305,104 Redeemable preferred securities 1,250,000 - 238,100 1,011,900 Total fixed maturity securities $ 165,509,608 $ 88,078 $ 13,844,609 $ 151,753,077 Fixed maturity securities held in trust under coinsurance agreement $ 29,585,588 $ 10,972 $ 5,099,578 $ 24,496,982 December 31, 2023 Fixed maturity securities U.S. government and U.S. government agencies $ 3,806,419 $ 14,360 $ 22,495 $ 3,798,284 States and political subdivisions 9,773,549 97,215 338,894 9,531,870 U.S. government agency mortgage backed securities 10,097,479 208,985 - 10,306,464 Commercial mortgage-backed securities 10,629,003 - 2,157,465 8,471,538 Residential mortgage-backed securities 9,986 4,328 - 14,314 Corporate bonds 85,901,454 65,239 6,625,386 79,341,307 Asset-backed securities 12,466,601 43,424 1,017,529 11,492,496 Exchange traded securities 882,631 - 406,631 476,000 Foreign bonds 27,091,108 24,186 1,902,619 25,212,675 Redeemable preferred securities 1,250,000 - 194,000 1,056,000 Total fixed maturity securities $ 161,908,230 $ 457,737 $ 12,665,019 $ 149,700,948 Fixed maturity securities held in trust under coinsurance agreement $ 56,824,160 $ 53,496 $ 5,226,397 $ 51,651,259
Gain (Loss) on Securities [Table Text Block]	Unrealized Number of Fair Value Loss Securities June 30, 2024 (Unaudited) Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 3,442,746 $ 11,681 3 States and political subdivisions 3,498,230 67,846 10 U.S. government agency mortgage backed securities 5,480,766 45,058 9 Commercial mortgage-backed securities 514,505 481 1 Corporate bonds 3,898,459 48,359 14 Asset-backed securities 2,759,813 3,907 5 Foreign bonds 1,223,378 16,023 3 Redeemable preferred securities 682,500 67,500 2 Total less than 12 months in an unrealized loss position 21,500,397 260,855 47 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 2,026,332 8,987 3 States and political subdivisions 4,353,954 387,622 21 Commercial mortgage-backed securities 8,955,610 1,685,978 24 Corporate bonds 70,284,350 7,676,440 215 Asset-backed securities 7,454,269 891,323 21 Exchange traded securities 480,000 537,916 2 Foreign bonds 23,783,598 2,224,888 63 Redeemable preferred securities 329,400 170,600 2 Total more than 12 months in an unrealized loss position 117,667,513 13,583,754 351 Total fixed maturity securities in an unrealized loss position $ 139,167,910 $ 13,844,609 398 Fixed maturity securities held in trust under coinsurance agreement Total less than 12 months in an unrealized loss position $ 534,820 $ 9,659 4 Total more than 12 months in an unrealized loss position 22,942,534 5,089,919 94 Total fixed maturity securities held in trust under coinsurance agreement in a unrealized loss position $ 23,477,354 $ 5,099,578 98 December 31, 2023 Fixed maturity securities Less than 12 months in an unrealized loss position U.S. government and U.S. government agencies $ 231,010 $ 100 1 States and political subdivisions 120,734 588 1 Corporate bonds 3,762,988 78,589 14 Foreign bonds 502,835 8,573 2 Total less than 12 months in an unrealized loss position 4,617,567 87,850 18 More than 12 months in an unrealized loss position U.S. government and U.S. government agencies 1,876,612 22,395 3 States and political subdivisions 4,411,017 338,306 21 Commercial mortgage-backed securities 8,471,538 2,157,465 24 Corporate bonds 72,550,042 6,546,797 214 Asset-backed securities 7,390,830 1,017,529 20 Exchange traded securities 476,000 406,631 2 Foreign bonds 23,164,587 1,894,046 61 Redeemable preferred securities 306,000 194,000 2 Total more than 12 months in an unrealized loss position 118,646,626 12,577,169 347 Total fixed maturity securities in an unrealized loss position $ 123,264,193 $ 12,665,019 365 Fixed maturity securities held in trust under coinsurance agreement Total less than 12 months in an unrealized loss position $ 1,400,820 $ 5,810 7 Total more than 12 months in an unrealized loss position 47,082,945 5,220,587 180 Total fixed maturity securities held in trust under coinsurance agreement in a unrealized loss position $ 48,483,765 $ 5,226,397 187
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Table Text Block]	(Unaudited) June 30, 2024 December 31, 2023 Beginning balance $ (430,470 ) $ - Cumulative adjustment to accumulated earnings as of January 1, 2023 - (291,185 ) Current estimate of credit losses (136,572 ) (139,285 ) Ending balance $ (567,042 ) $ (430,470 )
Unrealized Gain (Loss) on Investments [Table Text Block]	(Unaudited) June 30, 2024 December 31, 2023 Unrealized depreciation on available-for-sale securities $ (13,756,531 ) $ (12,207,282 ) Adjustment to deferred acquisition costs 3,188 3,094 Deferred income taxes 2,888,202 2,562,880 Net unrealized depreciation on available-for-sale securities $ (10,865,141 ) $ (9,641,308 ) Assets held in trust under coinsurance agreement Unrealized depreciation on fixed maturity securities available-for-sale $ (5,088,606 ) $ (5,172,901 )
Investments Classified by Contractual Maturity Date [Table Text Block]	June 30, 2024 (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 $ 2,579,084 $ 2,642,253 $ 13,901,762 $ 14,086,179 Due after one year through five years 40,794,663 38,795,181 31,122,970 33,030,861 Due after five years through ten years 21,054,382 19,784,075 10,845,771 12,637,392 Due after ten years 88,664,939 80,035,915 4,940,058 6,545,072 Due at multiple maturity dates 12,416,540 10,495,653 - - $ 165,509,608 $ 151,753,077 $ 60,810,561 $ 66,299,504 June 30, 2024 (Unaudited) Fixed Maturity Available-For-Sale Securities Amortized Cost Fair Value Due in one year or less $ 279,709 $ 275,520 Due after one year through five years 6,476,911 6,184,065 Due after five years through ten years 2,722,501 2,752,358 Due after ten years 17,305,574 12,883,235 Due at multiple maturity dates 2,800,893 2,401,804 $ 29,585,588 $ 24,496,982
Realized Gain (Loss) on Investments [Table Text Block]	Three Months Ended June 30, (Unaudited) Fixed Maturity Securities Mortgage Loans on Real Estate Investment Real Estate 2024 2023 2024 2023 2024 2023 Proceeds $ 2,418,152 $ 730,108 $ 36,322,107 $ - $ - $ - Gross realized gains 24,791 2,062 - - - - Gross realized losses (67,206 ) (33,343 ) (34,442 ) - - - Loss on impairments - - - - (129,436 ) - Six Months Ended June 30, (Unaudited) Fixed Maturity Securities Mortgage Loans on Real Estate Investment Real Estate 2024 2023 2024 2023 2024 2023 Proceeds $ 3,451,501 $ 2,513,558 $ 72,861,854 $ - $ - $ - Gross realized gains 25,165 17,961 59,858 - - - Gross realized losses (69,278 ) (67,564 ) (34,442 ) - - - Loss on impairments - - - - (129,436 ) -
Investment Income [Table Text Block]	Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2024 2023 2024 2023 Change in unrealized investment gains (losses): Available-for-sale securities: Fixed maturity securities $ (853,124 ) $ (1,833,772 ) $ (1,549,249 ) $ 1,761,486 Fixed maturity securities held in trust under coinsurance agreement 124,551 (471,798 ) 84,295 585,982 Net realized investment gains (losses): Available-for-sale securities: Fixed maturity securities (42,415 ) (31,281 ) (44,113 ) (49,603 ) Fixed maturity securities credit losses (79,477 ) (76,709 ) (136,572 ) (83,632 ) Equity securities, changes in fair value (3,631 ) (4,080 ) 35,365 (10,286 ) Mortgage loans on real estate (34,442 ) - 25,416 - Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2024 2023 2024 2023 Fixed maturity securities $ 1,908,083 $ 1,473,021 $ 3,670,108 $ 3,033,054 Equity securities 38,118 77,860 52,752 106,115 Other long-term investments 1,124,968 1,287,139 2,292,211 2,647,469 Mortgage loans 4,490,460 4,594,059 9,437,977 9,318,415 Policy loans 66,039 57,384 134,790 113,960 Short-term and other investments 662,925 774,735 1,135,364 1,269,413 Gross investment income 8,290,593 8,264,198 16,723,202 16,488,426 Investment expenses (622,176 ) (817,802 ) (1,096,908 ) (1,414,214 ) Net investment income $ 7,668,417 $ 7,446,396 $ 15,626,294 $ 15,074,212
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(Unaudited) June 30, 2024 December 31, 2023 Residential mortgage loans $ 189,541,335 $ 224,258,534 Commercial mortgage loans by property type Agricultural 981,698 986,207 Apartment 2,318,071 3,108,829 Industrial 377,221 1,267,264 Lodging 24,300 24,727 Office building 5,748,515 5,652,487 Retail 4,925,831 4,533,399 Total commercial mortgage loans by property type 14,375,636 15,572,913 Total mortgage loans $ 203,916,971 $ 239,831,447 Mortgage loans held in trust under coinsurance agreement Commercial mortgage loans $ 16,725,674 $ 27,714,891 Less unearned interest on mortgage loans 4,344 133,010 Total mortgage loans held in trust under coinsurance agreement $ 16,721,330 $ 27,581,881
Schedule of Real Estate Properties [Table Text Block]	(Unaudited) June 30, 2024 December 31, 2023 Land - held for investment $ 411,000 $ 540,436 Residential real estate - held for sale 1,328,048 764,967 Total investment in real estate $ 1,739,048 $ 1,305,403

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total June 30, 2024 (Unaudited) Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 5,469,078 $ - $ 5,469,078 States and political subdivisions - 8,729,004 - 8,729,004 U.S. government agency mortgage backed securities 10,840,876 10,840,876 Commercial mortgage-backed securities - 9,470,115 - 9,470,115 Residential mortgage-backed securities - 13,640 - 13,640 Corporate bonds - 78,052,411 - 78,052,411 Asset-backed securities - 12,380,949 - 12,380,949 Exchange traded securities - 480,000 - 480,000 Foreign bonds - 25,305,104 - 25,305,104 Redeemable preferred securities - 1,011,900 - 1,011,900 Total fixed maturity securities $ - $ 151,753,077 $ - $ 151,753,077 Fixed maturity securities, available-for-sale held in trust under coinsurance agreement $ - $ 24,496,982 $ - $ 24,496,982 Equity securities Mutual funds $ - $ 50,625 $ - $ 50,625 Corporate common stock 339,030 - 57,373 396,403 Total equity securities $ 339,030 $ 50,625 $ 57,373 $ 447,028 December 31, 2023 Fixed maturity securities, available-for-sale U.S. government and U.S. government agencies $ - $ 3,798,284 $ - $ 3,798,284 States and political subdivisions - 9,531,870 - 9,531,870 U.S. government agency mortgage backed securities - 10,306,464 - 10,306,464 Commercial mortgage-backed securities - 8,471,538 - 8,471,538 Residential mortgage-backed securities - 14,314 - 14,314 Corporate bonds - 79,341,307 - 79,341,307 Asset-backed securities - 11,492,496 - 11,492,496 Exchange traded securities - 476,000 - 476,000 Foreign bonds - 25,212,675 - 25,212,675 Redeemable preferred securities - 1,056,000 - 1,056,000 Total fixed maturity securities $ - $ 149,700,948 $ - $ 149,700,948 Fixed maturity securities, available-for-sale held in trust under coinsurance agreement $ - $ 51,651,259 $ - $ 51,651,259 Equity securities Mutual funds $ - $ 50,226 $ - $ 50,226 Corporate common stock 304,064 - 65,240 369,304 Total equity securities $ 304,064 $ 50,226 $ 65,240 $ 419,530
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	(Unaudited) June 30, 2024 December 31, 2023 Beginning balance $ 65,240 $ 53,996 Joint venture net income 45,542 130,550 Joint venture distribution (53,409 ) (119,306 ) Ending balance $ 57,373 $ 65,240
Fair Value, by Balance Sheet Grouping [Table Text Block]	Carrying Fair Amount Value Level 1 Level 2 Level 3 June 30, 2024 (Unaudited) Financial assets Mortgage loans on real estate Commercial $ 14,375,636 $ 13,759,141 $ - $ - $ 13,759,141 Residential 189,541,335 159,908,924 - - 159,908,924 Policy loans 3,742,282 3,742,282 - - 3,742,282 Short-term investments - - - - - Other long-term investments 60,810,561 66,299,504 - - 66,299,504 Cash and cash equivalents 61,812,030 61,812,030 61,812,030 - - Accrued investment income 5,599,372 5,599,372 - - 5,599,372 Total financial assets $ 335,881,216 $ 311,121,253 $ 61,812,030 $ - $ 249,309,223 Held in trust under coinsurance agreement Mortgage loans on real estate Commercial $ 16,725,674 $ 16,725,674 $ - $ - $ 16,725,674 Less unearned interest on mortgage loans 4,344 4,344 - - 4,344 Cash and cash equivalents 143,740 143,740 143,740 - - Total financial assets held in trust under coinsurance agreement $ 16,865,070 $ 16,865,070 $ 143,740 $ - $ 16,721,330 Policyholders' account balances $ 361,873,240 $ 309,068,671 $ - $ - $ 309,068,671 Policy claims 2,467,191 2,467,191 - - 2,467,191 Total financial liabilities $ 364,340,431 $ 311,535,862 $ - $ - $ 311,535,862 December 31, 2023 Financial assets Mortgage loans on real estate Commercial $ 15,572,913 $ 14,803,724 $ - $ - $ 14,803,724 Residential 224,258,534 196,514,414 - - 196,514,414 Policy loans 3,474,116 3,474,116 - - 3,474,116 Short-term investments 298,257 298,257 298,257 - - Other long-term investments 61,487,939 68,023,717 - - 68,023,717 Cash and cash equivalents 33,839,741 33,839,741 33,839,741 - - Accrued investment income 6,214,459 6,214,459 - - 6,214,459 Total financial assets $ 345,145,959 $ 323,168,428 $ 34,137,998 $ - $ 289,030,430 Held in trust under coinsurance agreement Mortgage loans on real estate Commercial $ 27,714,891 $ 27,714,891 $ - $ - $ 27,714,891 Less unearned interest on mortgage loans 133,010 133,010 - - 133,010 Cash and cash equivalents 711,733 711,733 711,733 - - Total financial assets held in trust under coinsurance agreement $ 28,293,614 $ 28,293,614 $ 711,733 $ - $ 27,581,881 Financial liabilities Policyholders' account balances $ 391,247,676 $ 344,806,580 $ - $ - $ 344,806,580 Policy claims 2,410,243 2,410,243 - - 2,410,243 Total financial liabilities $ 393,657,919 $ 347,216,823 $ - $ - $ 347,216,823

Note 4 - Segment Data (Tables)

Note 4 - Segment Data (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) 2024 2023 2024 2023 Revenues: Life insurance operations $ 12,282,831 $ 11,252,874 $ 24,133,009 $ 22,078,689 Annuity operations 5,265,190 5,708,580 11,443,705 11,789,734 Corporate operations 595,109 1,091,419 1,108,624 1,872,391 Total $ 18,143,130 $ 18,052,873 $ 36,685,338 $ 35,740,814 Income (loss) before income taxes: Life insurance operations $ 1,039,421 $ 941,086 $ 2,927,650 $ 692,811 Annuity operations 161,114 158,696 768,716 1,168,394 Corporate operations 587,807 799,414 369,578 1,285,918 Total $ 1,788,342 $ 1,899,196 $ 4,065,944 $ 3,147,123 Depreciation and amortization expense: Life insurance operations $ 2,262,786 $ 1,933,322 $ 4,286,093 $ 3,689,837 Annuity operations 452,179 398,214 805,920 731,352 Total $ 2,714,965 $ 2,331,536 $ 5,092,013 $ 4,421,189
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	(Unaudited) June 30, 2024 December 31, 2023 Assets: Life insurance operations $ 163,941,549 $ 164,653,497 Annuity operations 444,913,161 495,979,724 Corporate operations 11,276,511 11,388,314 Total $ 620,131,221 $ 672,021,535

Note 7 - Other Comprehensive _2

Note 7 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 30, 2024 and 2023 (Unaudited) Unrealized Accumulated Depreciation on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Loss Balance as of April 1, 2024 $ (10,193,705 ) $ 2,381 $ (10,191,324 ) Other comprehensive loss before reclassifications, net of tax (707,476 ) 151 (707,325 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax (33,508 ) - (33,508 ) Other comprehensive loss (673,968 ) 151 (673,817 ) Balance as of June 30, 2024 $ (10,867,673 ) $ 2,532 $ (10,865,141 ) Balance as of April 1, 2023 $ (11,253,426 ) $ 3,174 $ (11,250,252 ) Other comprehensive loss before reclassifications, net of tax (1,473,391 ) 287 (1,473,104 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax (24,712 ) - (24,712 ) Other comprehensive loss (1,448,679 ) 287 (1,448,392 ) Balance as of June 30, 2023 $ (12,702,105 ) $ 3,461 $ (12,698,644 ) Six Months Ended June 30, 2024 and 2023 (Unaudited) Unrealized Accumulated Depreciation on Adjustment to Other Available-For-Sale Deferred Acquisition Comprehensive Securities Costs Loss Balance as of January 1, 2024 $ (9,643,766 ) $ 2,458 $ (9,641,308 ) Other comprehensive loss before reclassifications, net of tax (1,258,756 ) 74 (1,258,682 ) Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax (34,849 ) - (34,849 ) Other comprehensive loss (1,223,907 ) 74 (1,223,833 ) Balance as of June 30, 2024 $ (10,867,673 ) $ 2,532 $ (10,865,141 ) 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 1,352,388 (575 ) 1,351,813 Less amounts reclassified from accumulated other comprehensive loss having no credit losses, net of tax (39,186 ) - (39,186 ) Other comprehensive income 1,391,574 (575 ) 1,390,999 Balance as of June 30, 2023 $ (12,702,105 ) $ 3,461 $ (12,698,644 )
Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 30, 2024 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (895,539 ) $ (188,063 ) $ (707,476 ) Reclassification adjustment for net losses included in operations having no credit losses (42,415 ) (8,907 ) (33,508 ) Net unrealized losses on investments (853,124 ) (179,156 ) (673,968 ) Adjustment to deferred acquisition costs 191 40 151 Total other comprehensive loss $ (852,933 ) $ (179,116 ) $ (673,817 ) Three Months Ended June 30, 2023 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (1,865,053 ) $ (391,662 ) $ (1,473,391 ) Reclassification adjustment for net losses included in operations having no credit losses (31,281 ) (6,569 ) (24,712 ) Net unrealized losses on investments (1,833,772 ) (385,093 ) (1,448,679 ) Adjustment to deferred acquisition costs 363 76 287 Total other comprehensive loss $ (1,833,409 ) $ (385,017 ) $ (1,448,392 ) Six Months Ended June 30, 2024 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized losses on available-for-sale securities: Unrealized holding losses arising during the period $ (1,593,362 ) $ (334,606 ) $ (1,258,756 ) Reclassification adjustment for net losses included in operations having no credit losses (44,113 ) (9,264 ) (34,849 ) Net unrealized losses on investments (1,549,249 ) (325,342 ) (1,223,907 ) Adjustment to deferred acquisition costs 94 20 74 Total other comprehensive loss $ (1,549,155 ) $ (325,322 ) $ (1,223,833 ) Six Months Ended June 30, 2023 (Unaudited) Income Tax Pretax Expense (Benefit) Net of Tax Other comprehensive income: Change in net unrealized losses on available-for-sale securities: Unrealized holding gains arising during the period $ 1,711,883 $ 359,495 $ 1,352,388 Reclassification adjustment for net losses included in operations having no credit losses (49,603 ) (10,417 ) (39,186 ) Net unrealized gains on investments 1,761,486 369,912 1,391,574 Adjustment to deferred acquisition costs (728 ) (153 ) (575 ) Total other comprehensive income $ 1,760,758 $ 369,759 $ 1,390,999
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 30, (Unaudited) Six Months Ended June 30, (Unaudited) Reclassification Adjustments 2024 2023 2024 2023 Unrealized losses on available-for-sale securities having no credit losses: Realized losses on sales of securities (a) $ (42,415 ) $ (31,281 ) $ (44,113 ) $ (49,603 ) Income tax benefit (b) (8,907 ) (6,569 ) (9,264 ) (10,417 ) Total reclassification adjustments $ (33,508 ) $ (24,712 ) $ (34,849 ) $ (39,186 )

Note 8 - Allowance for Loan L_2

Note 8 - Allowance for Loan Losses From Mortgage Loans on Real Estate (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Unaudited Three Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2024 2023 2024 2023 2024 2023 Allowance, beginning $ 983,456 $ 996,924 $ 68,505 $ 89,242 $ 1,051,961 $ 1,086,166 Charge offs - - - - - - Recoveries - - - - - - Provision (49,939 ) 79,704 3,734 (5,996 ) (46,205 ) 73,708 Allowance, ending $ 933,517 $ 1,076,628 $ 72,239 $ 83,246 $ 1,005,756 $ 1,159,874 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 933,517 $ 1,076,628 $ 72,239 $ 83,246 $ 1,005,756 $ 1,159,874 Carrying Values: Individually evaluated for reserve allowance $ - $ - $ - $ - $ - $ - Collectively evaluated for reserve allowance $ 185,769,847 $ 214,249,269 $ 14,375,636 $ 16,565,890 $ 200,145,483 $ 230,815,159 (Unaudited) Six Months Ended June 30, Residential Mortgage Loans Commercial Mortgage Loans Total 2024 2023 2024 2023 2024 2023 Allowance, beginning $ 1,085,919 $ 1,030,424 $ 78,183 $ 90,024 $ 1,164,102 $ 1,120,448 Charge offs - - - - - - Recoveries - - - - - - Provision (152,402 ) 46,204 (5,944 ) (6,778 ) (158,346 ) 39,426 Allowance, ending $ 933,517 $ 1,076,628 $ 72,239 $ 83,246 $ 1,005,756 $ 1,159,874 Allowance, ending: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment $ 933,517 $ 1,076,628 $ 72,239 $ 83,246 $ 1,005,756 $ 1,159,874 Carrying Values: Individually evaluated for reserve allowance $ - $ - $ - $ - $ - $ - Collectively evaluated for reserve allowance $ 185,769,847 $ 214,249,269 $ 14,375,636 $ 16,565,890 $ 200,145,483 $ 230,815,159
Financing Receivable Credit Quality Indicators [Table Text Block]	Residential Mortgage Loans Commercial Mortgage Loans Total Mortgage Loans (Unaudited) (Unaudited) (Unaudited) Loan-To-Value Ratio June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Over 70% to 80% $ 65,094,146 $ 75,718,654 $ 2,095,208 $ 2,099,950 $ 67,189,354 $ 77,818,604 Over 60% to 70% 54,075,432 65,525,308 1,487,939 2,958,186 55,563,371 68,483,494 Over 50% to 60% 30,306,310 38,548,660 1,310,257 1,809,817 31,616,567 40,358,477 Over 40% to 50% 22,187,339 22,283,148 4,051,050 2,394,557 26,238,389 24,677,705 Over 30% to 40% 8,891,350 10,056,308 3,367,121 3,817,212 12,258,471 13,873,520 Over 20% to 30% 4,982,893 7,929,094 770,322 463,856 5,753,215 8,392,950 Over 10% to 20% 3,172,296 3,178,001 447,989 1,714,394 3,620,285 4,892,395 10% or less 831,569 1,019,361 845,750 314,941 1,677,319 1,334,302 Total $ 189,541,335 $ 224,258,534 $ 14,375,636 $ 15,572,913 $ 203,916,971 $ 239,831,447

Supplemental Disclosure - Cas_3

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure	$ 563,081
Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure	$ 563,081	$ 764,967

Supplemental Disclosure - Cas_4

Supplemental Disclosure - Cash and Non-cash Impact on Operating, Investing and Financing Activities (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Reductions in mortgage loans due to foreclosure	$ 563,081
Investment real estate held-for-sale acquired through foreclosure	563,081
Net cash used in investing activities	$ 0

Note 1 - Organization and Sig_2

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

6 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 ($)

Jun. 30, 2024 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

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

Jun. 30, 2023

Jan. 01, 2023 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

$ 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)

$ 33,970,243

$ 30,786,110

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

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

$ 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

$ 1,746,240

Business Acquisition, Percentage of Voting Interests Acquired

100%

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

$ 1,746,240

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

Business Combination, Consideration Transferred

$ 250,000

Business Acquisition, Percentage of Voting Interests Acquired

100%

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) (Year)

10 years

Term Products 15 Year [Member]

Term Products Number of Years (Year) (Year)

15 years

Term Products 20 Year [Member]

Term Products Number of Years (Year) (Year)

20 years

Term Products 30 Year [Member]

Term Products Number of Years (Year) (Year)

30 years

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

Business Combination, Consideration Transferred

$ 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

$ 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%

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		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($) a	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) a	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	398		398
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ 13,844,609		$ 13,844,609
Debt Securities, Available-for-Sale, Unrealized Loss Position	139,167,910		139,167,910
Other Investments	60,810,561		60,810,561		$ 61,487,939
Deposit Assets	6,291,641		6,291,641		4,609,927
Other Assets, Fair Value Disclosure	$ 6,252,290		$ 6,252,290		$ 4,596,130
Number Of Loans Past Due	27	22	27	22
Financing Receivable, 90 Days or More Past Due, Still Accruing	$ 7,375,244	$ 6,027,499	$ 7,375,244	$ 6,027,499
Past Due Loans, Term Past Due (Year)			90 years	90 years
Number of Mortgage Loans in Default	11	7	11	7
Mortgage Loans in Process of Foreclosure, Amount	$ 4,130,357	$ 1,780,274	$ 4,130,357	$ 1,780,274
Asset Impairment Charges	129,436	$ 0	129,436	$ 0
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure			563,081
Topeka Kansas [Member] | TLIC [Member] | Underdeveloped Land [Member]
Land	$ 280,000		280,000
Asset Impairment Charges			$ 129,436
Jefferson City Missouri [Member] | FBLIC [Member] | Assets Held-for-sale not Part of a Disposal Group [Member]
Area of Land (Acre) | a	0.5		0.5
Jefferson City Missouri [Member] | FBLIC [Member] | Underdeveloped Land [Member]
Land	$ 131,000		$ 131,000
Debt Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	398		398		365
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ 13,844,609		$ 13,844,609		$ 12,665,019
Debt Securities, Available-for-Sale, Unrealized Loss Position	139,167,910		139,167,910		123,264,193
Amortized Cost of Debt Securities Available for Sale in an Unrealized Loss Position	$ 153,012,519		$ 153,012,519		$ 135,929,212
Fair Value to Cost Ratio	91%		91%		91%
Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure			$ 563,081		$ 764,967

Note 2 - Investments - Availabl

Note 2 - Investments - Available-for-sale Fixed Maturity and Equity Securities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
US Treasury and Government [Member]
Securities, amortized cost	$ 5,489,746	$ 3,806,419
Securities, gross unrealized gains	0	14,360
Securities, gross unrealized losses	20,668	22,495
Securities, fair value	5,469,078	3,798,284
US States and Political Subdivisions Debt Securities [Member]
Securities, amortized cost	9,177,048	9,773,549
Securities, gross unrealized gains	7,424	97,215
Securities, gross unrealized losses	455,468	338,894
Securities, fair value	8,729,004	9,531,870
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]
Securities, amortized cost	10,868,391	10,097,479
Securities, gross unrealized gains	17,543	208,985
Securities, gross unrealized losses	45,058	0
Securities, fair value	10,840,876	10,306,464
Commercial Mortgage-Backed Securities [Member]
Securities, amortized cost	11,156,574	10,629,003
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	1,686,459	2,157,465
Securities, fair value	9,470,115	8,471,538
Residential Mortgage-Backed Securities [Member]
Securities, amortized cost	9,967	9,986
Securities, gross unrealized gains	3,673	4,328
Securities, gross unrealized losses	0	0
Securities, fair value	13,640	14,314
Corporate Debt Securities [Member]
Securities, amortized cost	85,727,225	85,901,454
Securities, gross unrealized gains	49,985	65,239
Securities, gross unrealized losses	7,724,799	6,625,386
Securities, fair value	78,052,411	79,341,307
Asset-Backed Securities [Member]
Securities, amortized cost	13,270,957	12,466,601
Securities, gross unrealized gains	5,222	43,424
Securities, gross unrealized losses	895,230	1,017,529
Securities, fair value	12,380,949	11,492,496
Exchange-traded Debt Securities [Member]
Securities, amortized cost	1,017,916	882,631
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	537,916	406,631
Securities, fair value	480,000	476,000
Debt Security, Government, Non-US [Member]
Securities, amortized cost	27,541,784	27,091,108
Securities, gross unrealized gains	4,231	24,186
Securities, gross unrealized losses	2,240,911	1,902,619
Securities, fair value	25,305,104	25,212,675
Redeemable Preferred Stock [Member]
Securities, amortized cost	1,250,000	1,250,000
Securities, gross unrealized gains	0	0
Securities, gross unrealized losses	238,100	194,000
Securities, fair value	1,011,900	1,056,000
Debt Securities [Member]
Securities, amortized cost	165,509,608	161,908,230
Securities, gross unrealized gains	88,078	457,737
Securities, gross unrealized losses	13,844,609	12,665,019
Securities, fair value	151,753,077	149,700,948
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Securities, amortized cost	29,585,588	56,824,160
Securities, gross unrealized gains	10,972	53,496
Securities, gross unrealized losses	5,099,578	5,226,397
Securities, fair value	$ 24,496,982	$ 51,651,259

Note 2 - Investments - Securiti

Note 2 - Investments - Securities in an Unrealized Loss Position (Details)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Securities in an unrealized loss position, fair value	$ 139,167,910
Securities in an unrealized loss position, unrealized loss	$ 13,844,609
Securities in an unrealized loss position, number	398
US Treasury and Government [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 3,442,746	$ 231,010
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 11,681	$ 100
Securities in an unrealized loss position, less than twelve months, number	3	1
Securities in an unrealized loss position, more than twelve months, fair value	$ 2,026,332	$ 1,876,612
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 8,987	$ 22,395
Securities in an unrealized loss position, more than twelve months, number	3	3
US States and Political Subdivisions Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 3,498,230	$ 120,734
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 67,846	$ 588
Securities in an unrealized loss position, less than twelve months, number	10	1
Securities in an unrealized loss position, more than twelve months, fair value	$ 4,353,954	$ 4,411,017
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 387,622	$ 338,306
Securities in an unrealized loss position, more than twelve months, number	21	21
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 5,480,766
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 45,058
Securities in an unrealized loss position, less than twelve months, number	9
Commercial Mortgage-Backed Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 514,505
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 481
Securities in an unrealized loss position, less than twelve months, number	1
Securities in an unrealized loss position, more than twelve months, fair value	$ 8,955,610	$ 8,471,538
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 1,685,978	$ 2,157,465
Securities in an unrealized loss position, more than twelve months, number	24	24
Corporate Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 3,898,459	$ 3,762,988
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 48,359	$ 78,589
Securities in an unrealized loss position, less than twelve months, number	14	14
Securities in an unrealized loss position, more than twelve months, fair value	$ 70,284,350	$ 72,550,042
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 7,676,440	$ 6,546,797
Securities in an unrealized loss position, more than twelve months, number	215	214
Asset-Backed Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 2,759,813
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 3,907
Securities in an unrealized loss position, less than twelve months, number	5
Securities in an unrealized loss position, more than twelve months, fair value	$ 7,454,269	$ 7,390,830
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 891,323	$ 1,017,529
Securities in an unrealized loss position, more than twelve months, number	21	20
Debt Security, Government, Non-US [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 1,223,378	$ 502,835
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 16,023	$ 8,573
Securities in an unrealized loss position, less than twelve months, number	3	2
Securities in an unrealized loss position, more than twelve months, fair value	$ 23,783,598	$ 23,164,587
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 2,224,888	$ 1,894,046
Securities in an unrealized loss position, more than twelve months, number	63	61
Redeemable Preferred Stock [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 682,500
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 67,500
Securities in an unrealized loss position, less than twelve months, number	2
Securities in an unrealized loss position, more than twelve months, fair value	$ 329,400	$ 306,000
Securities in an unrealized loss position, more than twelve months, unrealized loss	170,600	$ 194,000
Securities in an unrealized loss position, more than twelve months, number		2
Debt Securities [Member]
Securities in an unrealized loss position, less than twelve months, fair value	21,500,397	$ 4,617,567
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 260,855	$ 87,850
Securities in an unrealized loss position, less than twelve months, number	47	18
Securities in an unrealized loss position, more than twelve months, fair value	$ 117,667,513	$ 118,646,626
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 13,583,754	$ 12,577,169
Securities in an unrealized loss position, more than twelve months, number	351	347
Securities in an unrealized loss position, fair value	$ 139,167,910	$ 123,264,193
Securities in an unrealized loss position, unrealized loss	$ 13,844,609	$ 12,665,019
Securities in an unrealized loss position, number	398	365
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Securities in an unrealized loss position, less than twelve months, fair value	$ 534,820	$ 1,400,820
Securities in an unrealized loss position, less than twelve months, unrealized loss	$ 9,659	$ 5,810
Securities in an unrealized loss position, less than twelve months, number	4	7
Securities in an unrealized loss position, more than twelve months, fair value	$ 22,942,534	$ 47,082,945
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 5,089,919	$ 5,220,587
Securities in an unrealized loss position, more than twelve months, number	94	180
Securities in an unrealized loss position, fair value	$ 23,477,354	$ 48,483,765
Securities in an unrealized loss position, unrealized loss	$ 5,099,578	$ 5,226,397
Securities in an unrealized loss position, number	98	187
Exchange-traded Debt Securities [Member]
Securities in an unrealized loss position, more than twelve months, fair value	$ 480,000	$ 476,000
Securities in an unrealized loss position, more than twelve months, unrealized loss	$ 537,916	$ 406,631
Securities in an unrealized loss position, more than twelve months, number	2	2

Note 2 - Investments - Change i

Note 2 - Investments - Change in Estimate of Credit Losses (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Beginning balance	$ (430,470)	$ 0
Current estimate of credit losses	(136,572)	(139,285)
Ending balance	567,042	(430,470)
Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance	$ 0	(291,185)
Ending balance		$ 0

Note 2 - Investments - Net Unre

Note 2 - Investments - Net Unrealized Gains Included in Accumulated Other Comprehensive Income (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Unrealized appreciation (depreciation) on available-for-sale securities	$ (13,756,531)	$ (12,207,282)
Adjustment to deferred acquisition costs	3,188	3,094
Deferred income taxes	2,888,202	2,562,880
Net unrealized appreciation (depreciation) on available-for-sale securities	(10,865,141)	(9,641,308)
Trinity Life Insurance Company [Member]
Unrealized appreciation (depreciation) on available-for-sale securities	$ (5,088,606)	$ (5,172,901)

Note 2 - Investments - Fixed Ma

Note 2 - Investments - Fixed Maturity Available-for-sale Securities by Contractual Maturities (Details)	Jun. 30, 2024 USD ($)
Fixed Maturities [Member]
Due in one year or less - amortized cost	$ 2,579,084
Due in one year or less - fair value	2,642,253
Due after one year through five years - amortized cost	40,794,663
Due after one year through five years - fair value	38,795,181
Due after five years through ten years - amortized cost	21,054,382
Due after five years through ten years - fair value	19,784,075
Due after ten years - amortized cost	88,664,939
Due after ten years - fair value	80,035,915
Due at multiple maturity dates - amortized cost	12,416,540
Due at multiple maturity dates - fair value	10,495,653
Fixed maturity available-for-sale securities - amortized cost	165,509,608
Fixed maturity available-for-sale securities - fair value	151,753,077
Fixed Maturities [Member] | Trinity Life Insurance Company [Member]
Due in one year or less - amortized cost	279,709
Due in one year or less - fair value	275,520
Due after one year through five years - amortized cost	6,476,911
Due after one year through five years - fair value	6,184,065
Due after five years through ten years - amortized cost	2,722,501
Due after five years through ten years - fair value	2,752,358
Due after ten years - amortized cost	17,305,574
Due after ten years - fair value	12,883,235
Due at multiple maturity dates - amortized cost	2,800,893
Due at multiple maturity dates - fair value	2,401,804
Fixed maturity available-for-sale securities - amortized cost	29,585,588
Fixed maturity available-for-sale securities - fair value	24,496,982
Other Long-Term Investments [Member]
Due in one year or less - amortized cost	13,901,762
Due in one year or less - fair value	14,086,179
Due after one year through five years - amortized cost	31,122,970
Due after one year through five years - fair value	33,030,861
Due after five years through ten years - amortized cost	10,845,771
Due after five years through ten years - fair value	12,637,392
Due after ten years - amortized cost	4,940,058
Due after ten years - fair value	6,545,072
Due at multiple maturity dates - amortized cost	0
Due at multiple maturity dates - fair value	0
Fixed maturity available-for-sale securities - amortized cost	60,810,561
Fixed maturity available-for-sale securities - fair value	$ 66,299,504

Note 2 - Investments - Proceeds

Note 2 - Investments - Proceeds and Gross Realized Gains (Losses (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Loss on impairments	$ (129,436)	$ 0	$ (129,436)	$ 0
Fixed Maturities [Member]
Proceeds from sale, maturity, or collection of investments	2,418,152	730,108	3,451,501	2,513,558
Gross realized gains on sale of investments	24,791	2,062	25,165	17,961
Gross realized losses on sale of investments	(67,206)	(33,343)	(69,278)	(67,564)
Loss on impairments	0	0	0	0
Equity Securities [Member]
Proceeds from sale, maturity, or collection of investments	36,322,107	0	72,861,854	0
Gross realized gains on sale of investments	0	0	59,858	0
Gross realized losses on sale of investments	(34,442)	0	(34,442)	0
Loss on impairments	0	0	0	0
Real Estate Investment [Member]
Proceeds from sale, maturity, or collection of investments	0	0	0	0
Gross realized gains on sale of investments	0	0	0	0
Gross realized losses on sale of investments	0	0	0	0
Loss on impairments	$ (129,436)	$ 0	$ (129,436)	$ 0

Note 2 - Investments - Major Ca

Note 2 - Investments - Major Categories of Net Investment Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Change in unrealized investment gains (losses)	$ (673,968)	$ (1,448,679)	$ (1,223,907)	$ 1,391,574
Gross Investment income	8,290,593	8,264,198	16,723,202	16,488,426
Investment expenses	(622,176)	(817,802)	(1,096,908)	(1,414,214)
Net investment income	7,668,417	7,446,396	15,626,294	15,074,212
Fixed Maturities [Member]
Change in unrealized investment gains (losses)	(853,124)	(1,833,772)	(1,549,249)	1,761,486
Gross Investment income	1,908,083	1,473,021	3,670,108	3,033,054
Net realized investment gains (losses)	(42,415)	(31,281)	(44,113)	(49,603)
Fixed maturity securities credit losses	(79,477)	(76,709)	(136,572)	(83,632)
Fixed Maturities [Member] | Trinity Life Insurance Company [Member]
Change in unrealized investment gains (losses)	124,551	(471,798)	84,295	585,982
Equity Securities [Member]
Gross Investment income	38,118	77,860	52,752	106,115
Fixed maturity securities credit losses	(3,631)	(4,080)	35,365	(10,286)
Other Long-Term Investments [Member]
Gross Investment income	1,124,968	1,287,139	2,292,211	2,647,469
Mortgages [Member]
Gross Investment income	4,490,460	4,594,059	9,437,977	9,318,415
Policy Loans [Member]
Gross Investment income	66,039	57,384	134,790	113,960
Short-Term Investments [Member]
Gross Investment income	662,925	774,735	1,135,364	1,269,413
Real Estate Investment [Member]
Net realized investment gains (losses)	$ (34,442)	$ 0	$ 25,416	$ 0

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans on Real Estate (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 203,916,971	$ 239,831,447
Trinity Life Insurance Company [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	16,721,330	27,581,881
Less unearned interest on mortgage loans	4,344	133,010
Total mortgage loans held in trust under coinsurance agreement	16,721,330	27,581,881
Residential Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	189,541,335	224,258,534
Commercial Portfolio Segment [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	14,375,636	15,572,913
Commercial Portfolio Segment [Member] | Trinity Life Insurance Company [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	16,725,674	27,714,891
Commercial Portfolio Segment [Member] | Agriculture [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	981,698	986,207
Commercial Portfolio Segment [Member] | Apartment Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	2,318,071	3,108,829
Commercial Portfolio Segment [Member] | Industrial Property [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	377,221	1,267,264
Commercial Portfolio Segment [Member] | Hotel [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	24,300	24,727
Commercial Portfolio Segment [Member] | Office Building [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	5,748,515	5,652,487
Commercial Portfolio Segment [Member] | Retail Site [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 4,925,831	$ 4,533,399

Note 2 - Investments - Investme

Note 2 - Investments - Investment Real Estate (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Investment real estate	$ 1,739,048	$ 1,305,403
Land Held for Sale [Member]
Investment real estate	411,000	540,436
Residential Real Estate - Held for Sale [Member]
Investment real estate	$ 1,328,048	$ 764,967

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurements - Fair Value Measured on a Recurring Basis (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Recurring [Member]
Equity securities	$ 447,028	$ 419,530
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities	339,030	304,064
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities	50,625	50,226
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities	57,373	65,240
US Treasury and Government [Member]
Fixed maturity available-for-sale securities - fair value	5,469,078	3,798,284
US Treasury and Government [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	5,469,078	3,798,284
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	5,469,078	3,798,284
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [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	8,729,004	9,531,870
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	8,729,004	9,531,870
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	8,729,004	9,531,870
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]
Fixed maturity available-for-sale securities - fair value	10,840,876	10,306,464
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value		10,306,464
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	10,840,876	0
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	10,840,876	10,306,464
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value		0
Commercial Mortgage-Backed Securities [Member]
Fixed maturity available-for-sale securities - fair value	9,470,115	8,471,538
Commercial Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	9,470,115	8,471,538
Commercial Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Commercial Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	9,470,115	8,471,538
Commercial Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Residential Mortgage-Backed Securities [Member]
Fixed maturity available-for-sale securities - fair value	13,640	14,314
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	13,640	14,314
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	13,640	14,314
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Corporate Debt Securities [Member]
Fixed maturity available-for-sale securities - fair value	78,052,411	79,341,307
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	78,052,411	79,341,307
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	78,052,411	79,341,307
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Asset-Backed Securities [Member]
Fixed maturity available-for-sale securities - fair value	12,380,949	11,492,496
Asset-Backed Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	12,380,949	11,492,496
Asset-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Asset-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	12,380,949	11,492,496
Asset-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Exchange-traded Debt Securities [Member]
Fixed maturity available-for-sale securities - fair value	480,000	476,000
Exchange-traded Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	480,000	476,000
Exchange-traded Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Exchange-traded Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	480,000	476,000
Exchange-traded Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [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	25,305,104	25,212,675
Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	25,305,104	25,212,675
Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	25,305,104	25,212,675
Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Redeemable Preferred Stock [Member]
Fixed maturity available-for-sale securities - fair value	1,011,900	1,056,000
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	1,011,900	1,056,000
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	1,011,900	1,056,000
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Securities [Member]
Fixed maturity available-for-sale securities - fair value	151,753,077	149,700,948
Debt Securities [Member] | Trinity Life Insurance Company [Member]
Fixed maturity available-for-sale securities - fair value	24,496,982	51,651,259
Debt Securities [Member] | Fair Value, Recurring [Member]
Fixed maturity available-for-sale securities - fair value	151,753,077	149,700,948
Debt Securities [Member] | Fair Value, Recurring [Member] | Trinity Life Insurance Company [Member]
Fixed maturity available-for-sale securities - fair value	24,496,982	51,651,259
Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Trinity Life Insurance Company [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fixed maturity available-for-sale securities - fair value	151,753,077	149,700,948
Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Trinity Life Insurance Company [Member]
Fixed maturity available-for-sale securities - fair value	24,496,982	51,651,259
Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fixed maturity available-for-sale securities - fair value	0	0
Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [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	50,625	50,226
Mutual Fund [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities	0	0
Mutual Fund [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities	50,625	50,226
Mutual Fund [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities	0	0
Common Stock [Member] | Fair Value, Recurring [Member]
Equity securities	396,403	369,304
Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities	339,030	304,064
Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities	0	0
Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities	$ 57,373	$ 65,240

Note 3 - Fair Value Measureme_4

Note 3 - Fair Value Measurements - Change in Fair Value of Available-for-sale Equity Securities (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Beginning balance	$ 65,240	$ 53,996
Joint venture net income	45,542	130,550
Joint venture distribution	(53,409)	(119,306)
Ending balance	$ 57,373	$ 65,240

Note 3 - Fair Value Measureme_5

Note 3 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Policy loans	$ 3,742,282	$ 3,474,116
Accrued investment income	5,599,372	6,214,459
Policy claims	2,467,191	2,410,243
Trinity Life Insurance Company [Member]
Less unearned interest on mortgage loans	4,344	133,010
Reported Value Measurement [Member]
Policy loans	3,742,282	3,474,116
Short-term investments	0	298,257
Other long-term investments	60,810,561	61,487,939
Cash and cash equivalents	61,812,030	33,839,741
Accrued investment income	5,599,372	6,214,459
Total financial assets	335,881,216	345,145,959
Policyholders' account balances	361,873,240	391,247,676
Policy claims	2,467,191	2,410,243
Total financial liabilities	364,340,431	393,657,919
Reported Value Measurement [Member] | Trinity Life Insurance Company [Member]
Cash and cash equivalents	143,740	711,733
Total financial assets	16,865,070	28,293,614
Less unearned interest on mortgage loans	4,344	133,010
Reported Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate	14,375,636	15,572,913
Reported Value Measurement [Member] | Commercial [Member] | Trinity Life Insurance Company [Member]
Mortgage loans on real estate	16,725,674	27,714,891
Reported Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	189,541,335	224,258,534
Estimate of Fair Value Measurement [Member]
Policy loans	3,742,282	3,474,116
Short-term investments	0	298,257
Other long-term investments	66,299,504	68,023,717
Cash and cash equivalents	61,812,030	33,839,741
Accrued investment income	5,599,372	6,214,459
Total financial assets	311,121,253	323,168,428
Policyholders' account balances	309,068,671	344,806,580
Policy claims	2,467,191	2,410,243
Total financial liabilities	311,535,862	347,216,823
Estimate of Fair Value Measurement [Member] | Trinity Life Insurance Company [Member]
Cash and cash equivalents	143,740	711,733
Total financial assets	16,865,070	28,293,614
Less unearned interest on mortgage loans	4,344	133,010
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Policy loans	0	0
Short-term investments	0	298,257
Other long-term investments	0	0
Cash and cash equivalents	61,812,030	33,839,741
Accrued investment income	0	0
Total financial assets	61,812,030	34,137,998
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]
Cash and cash equivalents	143,740	711,733
Total financial assets	143,740	711,733
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]
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	3,742,282	3,474,116
Short-term investments	0	0
Other long-term investments	66,299,504	68,023,717
Cash and cash equivalents	0	0
Accrued investment income	5,599,372	6,214,459
Total financial assets	249,309,223	289,030,430
Policyholders' account balances	309,068,671	344,806,580
Policy claims	2,467,191	2,410,243
Total financial liabilities	311,535,862	347,216,823
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Trinity Life Insurance Company [Member]
Cash and cash equivalents	0	0
Total financial assets	16,721,330	27,581,881
Less unearned interest on mortgage loans	4,344	133,010
Estimate of Fair Value Measurement [Member] | Commercial [Member]
Mortgage loans on real estate	13,759,141	14,803,724
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Trinity Life Insurance Company [Member]
Mortgage loans on real estate	16,725,674	27,714,891
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	13,759,141	14,803,724
Estimate of Fair Value Measurement [Member] | Commercial [Member] | Fair Value, Inputs, Level 3 [Member] | Trinity Life Insurance Company [Member]
Mortgage loans on real estate	16,725,674	27,714,891
Estimate of Fair Value Measurement [Member] | Residential [Member]
Mortgage loans on real estate	159,908,924	196,514,414
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	$ 159,908,924	$ 196,514,414

Note 4 - Segment Data - Segment

Note 4 - Segment Data - Segment Data - Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total revenue	$ 18,143,130	$ 18,052,873	$ 36,685,338	$ 35,740,814
Income before income taxes	1,788,342	1,899,196	4,065,944	3,147,123
Depreciation and amortization expense	2,714,965	2,331,536	5,092,013	4,421,189
Life Insurance Operations [Member]
Total revenue	12,282,831	11,252,874	24,133,009	22,078,689
Income before income taxes	1,039,421	941,086	2,927,650	692,811
Depreciation and amortization expense	2,262,786	1,933,322	4,286,093	3,689,837
Annuity Operations [Member]
Total revenue	5,265,190	5,708,580	11,443,705	11,789,734
Income before income taxes	161,114	158,696	768,716	1,168,394
Depreciation and amortization expense	452,179	398,214	805,920	731,352
Corporate Segment [Member]
Total revenue	595,109	1,091,419	1,108,624	1,872,391
Income before income taxes	$ 587,807	$ 799,414	$ 369,578	$ 1,285,918

Note 4 - Segment Data - Reconci

Note 4 - Segment Data - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Total assets	$ 620,131,221	$ 672,021,535
Life Insurance Operations [Member]
Total assets	163,941,549	164,653,497
Annuity Operations [Member]
Total assets	444,913,161	495,979,724
Corporate Segment [Member]
Total assets	$ 11,276,511	$ 11,388,314

Note 6 - Contingent Liabiliti_2

Note 6 - Contingent Liabilities (Details Textual)				6 Months Ended	20 Months Ended
	Mar. 04, 2022	Jun. 29, 2020	Feb. 17, 2017 USD ($)	Jun. 30, 2024	Mar. 04, 2022
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	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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Balance	$ 65,260,345	$ 55,506,999	$ 64,016,208	$ 51,652,512
Total other comprehensive income (loss)	(673,817)	(1,448,392)	(1,223,833)	1,390,999
Balance	65,976,508	55,560,516	65,976,508	55,560,516
Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance				0
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Balance	(10,193,705)	(11,253,426)	(9,643,766)	(14,323,715)
Other comprehensive income (loss) before reclassifications, net of tax	(707,476)	(1,473,391)	(1,258,756)	1,352,388
Less amounts reclassified from accumulated other comprehensive income (loss) having no credit losses, net of tax	(33,508)	(24,712)	(34,849)	(39,186)
Total other comprehensive income (loss)	(673,968)	(1,448,679)	(1,223,907)	1,391,574
Balance	(10,867,673)	(12,702,105)	(10,867,673)	(12,702,105)
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	2,381	3,174	2,458	4,036
Other comprehensive income (loss) before reclassifications, net of tax	151	287	74	(575)
Less amounts reclassified from accumulated other comprehensive income (loss) having no credit losses, net of tax	0	0	0	0
Total other comprehensive income (loss)	151	287	74	(575)
Balance	2,532	3,461	2,532	3,461
Adjustment to Deferred Acquisition Costs [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance				0
AOCI Attributable to Parent [Member]
Balance	(10,191,324)	(11,250,252)	(9,641,308)	(14,319,679)
Other comprehensive income (loss) before reclassifications, net of tax	(707,325)	(1,473,104)	(1,258,682)	1,351,813
Less amounts reclassified from accumulated other comprehensive income (loss) having no credit losses, net of tax	(33,508)	(24,712)	(34,849)	(39,186)
Total other comprehensive income (loss)	(673,817)	(1,448,392)	(1,223,833)	1,390,999
Balance	$ (10,865,141)	$ (12,698,644)	$ (10,865,141)	(12,698,644)
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		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Unrealized holding losses arising during the period, pretax		$ (895,539)	$ (1,865,053)	$ (1,593,362)	$ 1,711,883
Unrealized holding losses arising during the period, tax		(188,063)	(391,662)	(334,606)	359,495
Unrealized holding losses arising during the period, net of tax		(707,476)	(1,473,391)	(1,258,756)	1,352,388
Realized gains (losses) on sales of securities	[1]	(42,415)	(31,281)	(44,113)	(49,603)
Income tax expense (benefit)	[2]	(8,907)	(6,569)	(9,264)	(10,417)
Reclassification adjustment for net gains included in operation having no credit losses, net of tax		(33,508)	(24,712)	(34,849)	(39,186)
Net unrealized losses on investments		(853,124)	(1,833,772)	(1,549,249)	1,761,486
Net unrealized losses on investments, tax		(179,156)	(385,093)	(325,342)	369,912
Net unrealized losses on investments, net of tax		(673,968)	(1,448,679)	(1,223,907)	1,391,574
Adjustment to deferred acquisition costs, pretax		191	363	94	(728)
Adjustment to deferred acquisition costs, income tax expense (benefit), tax		40	76	20	(153)
Adjustment to deferred acquisition costs, net of tax		151	287	74	(575)
Total other comprehensive income, pretax		(852,933)	(1,833,409)	(1,549,155)	1,760,758
Total other comprehensive loss, tax		(179,116)	(385,017)	(325,322)	369,759
Total other comprehensive loss, net of tax		$ (673,817)	$ (1,448,392)	$ (1,223,833)	$ 1,390,999
[1]These items appear within net realized investment(losses in the consolidated statements of operations.[2]These items appear within federal income taxes in the consolidated statements of operations.

Note 7 - Other Comprehensive _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		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Realized gains (losses) on sales of securities	[1]	$ (42,415)	$ (31,281)	$ (44,113)	$ (49,603)
Income tax expense (benefit)	[2]	(8,907)	(6,569)	(9,264)	(10,417)
Reclassification adjustment for net gains included in operation having no credit losses, net of tax		$ (33,508)	$ (24,712)	$ (34,849)	$ (39,186)
[1]These items appear within net realized investment(losses in the consolidated statements of operations.[2]These items appear within federal income taxes in the consolidated statements of operations.

Note 8 - Allowance for Loan L_3

Note 8 - Allowance for Loan Losses From Mortgage Loans on Real Estate (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 203,916,971	$ 239,831,447
Financing Receivable, Collectively Evaluated for Impairment	200,145,483	231,656,235
One Loan Originator and Investments [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	3,771,488		$ 13,887,039
One Loan Originator and Investments [Member] | Independent Mortgage Loan Balances [Member]
Escrow Deposit	865,299	890,915
Escrow Amount Available	846,442	850,039
Advances To Loan Originator	4,866,574	4,487,715
Residential Real Estate - Held for Sale [Member] | Independent Mortgage Loan Balances [Member]
Escrow Amount Available	18,857	40,876
Mortgage Loans on Real Estate, Commercial and Consumer, Net	3,771,488	8,175,212
Financing Receivable, Allowance for Credit Loss	1,005,756	$ 1,164,102
Residential [Member] | Independent Mortgage Loan Balances [Member] | Related Party [Member]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 2,040,000

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable, Collectively Evaluated for Impairment	$ 200,145,483		$ 200,145,483		$ 231,656,235
Residential Portfolio Segment [Member]
Allowance, beginning	983,456	$ 996,924	1,085,919	$ 1,030,424
Charge offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(49,939)	79,704	(152,402)	46,204
Allowance, ending	933,517	1,076,628	933,517	1,076,628
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	933,517	1,076,628	933,517	1,076,628
Financing receivable, Individually evaluated for reserve allowance	0	0	0	0
Financing Receivable, Collectively Evaluated for Impairment	185,769,847	214,249,269	185,769,847	214,249,269
Commercial Portfolio Segment [Member]
Allowance, beginning	68,505	89,242	78,183	90,024
Charge offs	0	0	0	0
Recoveries	0	0	0	0
Provision	3,734	(5,996)	(5,944)	(6,778)
Allowance, ending	72,239	83,246	72,239	83,246
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	72,239	83,246	72,239	83,246
Financing receivable, Individually evaluated for reserve allowance	0	0	0	0
Financing Receivable, Collectively Evaluated for Impairment	14,375,636	16,565,890	14,375,636	16,565,890
Premium Finance Loans [Member]
Allowance, beginning	1,051,961	1,086,166	1,164,102	1,120,448
Charge offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(46,205)	73,708	(158,346)	39,426
Allowance, ending	1,005,756	1,159,874	1,005,756	1,159,874
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	1,005,756	1,159,874	1,005,756	1,159,874
Financing receivable, Individually evaluated for reserve allowance	0	0	0	0
Financing Receivable, Collectively Evaluated for Impairment	$ 200,145,483	$ 230,815,159	$ 200,145,483	$ 230,815,159

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 ($)	Jun. 30, 2024	Dec. 31, 2023
Mortgage loans on real estate	$ 203,916,971	$ 239,831,447
Residential Portfolio Segment [Member]
Mortgage loans on real estate	189,541,335	224,258,534
Commercial Portfolio Segment [Member]
Mortgage loans on real estate	14,375,636	15,572,913
Loan to Value Range1 [Member]
Mortgage loans on real estate	67,189,354	77,818,604
Loan to Value Range1 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	65,094,146	75,718,654
Loan to Value Range1 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	2,095,208	2,099,950
Loan to Value Range 2 [Member]
Mortgage loans on real estate	55,563,371	68,483,494
Loan to Value Range 2 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	54,075,432	65,525,308
Loan to Value Range 2 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	1,487,939	2,958,186
Loan to Value Range 3 [Member]
Mortgage loans on real estate	31,616,567	40,358,477
Loan to Value Range 3 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	30,306,310	38,548,660
Loan to Value Range 3 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	1,310,257	1,809,817
Loan to Value Range 4 [Member]
Mortgage loans on real estate	26,238,389	24,677,705
Loan to Value Range 4 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	22,187,339	22,283,148
Loan to Value Range 4 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	4,051,050	2,394,557
Loan to Value Range 5 [Member]
Mortgage loans on real estate	12,258,471	13,873,520
Loan to Value Range 5 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	8,891,350	10,056,308
Loan to Value Range 5 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	3,367,121	3,817,212
Loan to Value Range 6 [Member]
Mortgage loans on real estate	5,753,215	8,392,950
Loan to Value Range 6 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	4,982,893	7,929,094
Loan to Value Range 6 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	770,322	463,856
Loan to Value Range 7 [Member]
Mortgage loans on real estate	3,620,285	4,892,395
Loan to Value Range 7 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	3,172,296	3,178,001
Loan to Value Range 7 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	447,989	1,714,394
Loan to Value Range 8 [Member]
Mortgage loans on real estate	1,677,319	1,334,302
Loan to Value Range 8 [Member] | Residential Portfolio Segment [Member]
Mortgage loans on real estate	831,569	1,019,361
Loan to Value Range 8 [Member] | Commercial Portfolio Segment [Member]
Mortgage loans on real estate	$ 845,750	$ 314,941