US Alliance 10-Q 13 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 06, 2017
Document Information [Line Items]
Entity Registrant Name	US Alliance Corp
Entity Central Index Key	1,463,913
Trading Symbol	usac
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		7,302,192
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Assets
Available for sale securities	$ 22,819,321	$ 15,463,578
Cash and cash equivalents	11,015,077	3,145,745
Investment income due and accrued	124,745	100,713
Policy loans	33,376
Reinsurance related assets	315,702	31,390
Deferred acquisition costs, net	3,083,154	153,792
Value of business acquired, net	605,677
Property, equipment and software, net	229,939	244,849
Goodwill	277,542
Other assets	241,517	51,922
Total assets	38,746,050	19,191,989
Liabilities:
Deposit-type contracts	12,749,556	3,398,170
Policyholder benefit reserves	10,216,596	4,220,215
Advance premiums	836,805	121,944
Total policy liabilities	23,802,957	7,740,329
Accounts payable and accrued expenses	75,399	66,472
Other liabilities	551,485	4,205
Total liabilities	24,429,841	7,811,006
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,296,351 and 5,565,943 shares as of September 30, 2017 and December 31, 2016, respectively	729,636	556,595
Additional paid-in capital	21,319,758	18,017,163
Accumulated deficit	(8,025,339)	(7,432,236)
Accumulated other comprehensive income	292,154	239,461
Total shareholders' equity	14,316,209	11,380,983
Total liabilities and shareholders' equity	38,746,050	19,191,989
Fixed Maturities [Member]
Assets
Available for sale securities	15,153,824	10,320,074
Equities, Including Equity Securities and Other Equity Investments [Member]
Assets
Available for sale securities	$ 7,665,497	$ 5,143,504

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Available for sale securities, amortized cost	$ 22,527,145	$ 15,224,117
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	7,296,351	5,565,943
Common stock, shares outstanding (in shares)	7,296,351	5,565,943
Fixed Maturities [Member]
Available for sale securities, amortized cost	$ 14,911,919	$ 10,318,164
Equities, Including Equity Securities and Other Equity Investments [Member]
Available for sale securities, amortized cost	$ 7,615,226	$ 4,905,953

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income:
Premium income	$ 5,169,638	$ 1,490,255	$ 8,902,208	$ 4,721,091
Net investment income	189,028	116,780	485,147	320,491
Net realized gain on sale of securities	226,890	29,889	435,392	40,653
Other income	1,201	21,878	40,656	57,468
Total income	5,586,757	1,658,802	9,863,403	5,139,703
Expenses:
Death claims	152,234	119,700	624,864	355,151
Policyholder benefits	479,965	715,171	2,609,324	2,520,956
Increase in policyholder reserves	4,357,257	556,685	5,205,124	1,473,287
Commissions, net of deferrals	97,151	88,952	362,585	315,550
Amortization of deferred acquisition costs	52,484	39,441	136,709	128,540
Value of business acquired amortized	3,384		3,384
Salaries & benefits	244,143	171,226	627,286	564,410
Other operating expenses	278,795	321,925	887,230	902,598
Total expense	5,665,413	2,013,100	10,456,506	6,260,492
Net loss	$ (78,656)	$ (354,298)	$ (593,103)	$ (1,120,789)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.01)	$ (0.06)	$ (0.10)	$ (0.21)
Unrealized net holding gains arising during the period	$ 19,839	$ 168,793	$ 488,085	$ 855,203
Reclassification adjustment for (gains) losses included in net loss	(226,890)	(29,889)	(435,392)	(40,653)
Other comprehensive income (loss)	(207,051)	138,904	52,693	814,550
Comprehensive loss	$ (285,707)	$ (215,394)	$ (540,410)	$ (306,239)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Warrant [Member]	Common Stock Subscribed [Member]	Subscription Receivable [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2015	5,177,245
Balance at Dec. 31, 2015	$ 517,725	$ 17,018,285	$ 15,876	$ 13,799	$ (827,952)	$ (100,477)	$ (6,146,463)	$ 10,490,793
Common stock issued upon exercise of warrants, $6.00 per share (in shares)	372,003
Common stock issued upon exercise of warrants, $6.00 per share	$ 37,200	2,210,694	(15,876)					2,232,018
Common stock issued, $7 per share (in shares)	4,886
Common stock issued, $7 per share	$ 489	33,713						34,202
Costs associated with common stock issued		(482,385)						(482,385)
Common stock subscribed		(814,153)		(13,799)	827,952
Other comprehensive income						814,550		814,550
Net loss							(1,120,789)	(1,120,789)
Balance (in shares) at Sep. 30, 2016	5,554,134
Balance at Sep. 30, 2016	$ 555,414	17,966,154				714,073	(7,267,252)	11,968,389
Balance (in shares) at Dec. 31, 2015	5,177,245
Balance at Dec. 31, 2015	$ 517,725	17,018,285	15,876	13,799	(827,952)	(100,477)	(6,146,463)	$ 10,490,793
Common stock issued upon exercise of warrants, $6.00 per share (in shares)								372,003
Balance (in shares) at Dec. 31, 2016	5,565,943
Balance at Dec. 31, 2016	$ 556,595	18,017,163				239,461	(7,432,236)	$ 11,380,983
Common stock issued, $7 per share (in shares)	85,950
Common stock issued, $7 per share	$ 8,595	593,055						601,650
Costs associated with common stock issued		(223,394)						(223,394)
Other comprehensive income						52,693		52,693
Net loss							(593,103)	(593,103)
Common stock issued, Northern Plains Capital Corporation merger (in shares)	1,644,458
Common stock issued, Northern Plains Capital Corporation merger	$ 164,446	2,932,934						3,097,380
Balance (in shares) at Sep. 30, 2017	7,296,351
Balance at Sep. 30, 2017	$ 729,636	$ 21,319,758				$ 292,154	$ (8,025,339)	$ 14,316,209

Consolidated Statements of Cha6

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2017	Sep. 30, 2016
Warrant [Member]
Warrants, exercise price per share (in dollars per share)		$ 6
Common Stock [Member]
Common stock, price per share (in dollars per share)		$ 7
Common stock, price per share (in dollars per share)	$ 7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities:
Net loss	$ (593,103)	$ (1,120,789)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	26,031	29,074
Net realized (gains) on the sale of securities	(435,392)	(40,653)
Amortization of investment securities, net	27,429	12,406
Deferred acquisition costs capitalized	(204,620)	(182,537)
Deferred acquisition costs amortized	136,709	128,540
Value of business acquired amortized	3,384
Interest credited on deposit type contracts	110,097	49,395
(Increase) decrease in operating assets:
Investment income due and accrued	9,315	3,097
Reinsurance related assets	(8,294)	(51,893)
Other assets	(132,357)	91,353
Increase (decrease) in operating liabilities:
Policyowner benefit reserves	1,284,750	1,497,064
Advance premiums	92,016	41,297
Other liabilities	3,600	73,434
Accounts payable and accrued expenses	(32,519)	(16,609)
Net cash provided by operating activities	287,046	513,179
Cash Flows from Investing Activities:
Purchase of fixed income investments	(4,629,966)	(2,624,560)
Purchase of equity investments	(4,669,164)	(1,210,646)
Proceeds from fixed income sales and repayments	3,081,710	573,590
Proceeds from equity sales and repayments	4,439,235	190,583
Acquisition of Northern Plains Capital Corporation	1,079,627
Assumed reinsurance from American Life & Security Corporation	6,895,145
Purchase of property, equipment and software	(11,121)
Net cash provided by (used in) investing activities	6,185,466	(3,071,033)
Cash Flows from Financing Activities:
Receipts on deposit-type contracts	1,368,680	1,485,628
Withdrawals on deposit-type contracts	(350,116)	(170,906)
Proceeds received from issuance of common stock, net of costs of issuance	378,256	1,783,835
Net cash provided by financing activities	1,396,820	3,098,557
Net increase in cash and cash equivalents	7,869,332	540,703
Cash and Cash Equivalents:
Beginning	3,145,745	2,466,526
Ending	11,015,077	3,007,229
Supplemental Disclosure of Non-Cash Information
Common stock issued on the acquisition of Northern Plains	3,097,380
Cost of reinsurance deferred on coinsurance transaction with American Life & Security Corp	$ 2,861,450

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. Description of Business and Significant Accounting Policies Description of business : US Alliance Corporation ("USAlliance" or “the Company”) is a Kansas corporation located in Topeka, Kansas. The Company was incorporated April 24, 2009, June 9, 2011, January 2, 2012. April 23, 2012, August 1, 2017, The Company terminated February 24, 2013. 2013, first May 1, 2013. 2014 2015. February 24, 2015, February 24, 2016. February 24, 2016, February 24, 2017 April 1, 2016. February 24, 2018. The Company began offering third 2015. one Basis of presentation : The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10 10 X. not The results of operation for the three nine September 30, 2017 not December 31, 2017 not 10 December 31, 2016. Principles of consolidation : The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated from the consolidated financial statements. Reclassifications: Certain reclassifications of a minor nature have been made to prior-period balances to conform to current-period presentation with no Area of Operation : USALSC is authorized to operate in the states of Kansas, North Dakota, Missouri, Oklahoma and Nebraska. DCLIC is authorized to operate in the state of North Dakota. Common stock and earnings (loss) per share: The par value for common stock is $0.10 20,000,000 September 30, 2017, December 31, 2016, 7,296,351 5,565,943 Earnings (loss) per share attributable to the Company ’s common stockholders were computed based on the net loss and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the quarters ended September 30, 2017 2016 6,181,492 5,552,227 nine September 30, 2017 2016 5,698,514 5,395,456 nine September 30, 2017 2016 New accounting standards Revenue from Contracts with Customers In May 2014, not The following steps are applied in the updated guidance: ( 1 identify the contract(s) with a customer; ( 2 3 4 5 In July 2015, one March 31, 2018. not Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern In August 2014, one If conditions or events raise substantial doubt that is not one The guidance is effective for annual periods ending after December 15, 2016, not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, This guidance is effective for fiscal years beginning after December 15, 2017. not The effect of the adoption of this guidance on the Company ’s results of operations, financial position and liquidity is primarily dependent on the fair value of the available-for-sale equity securities in future periods and the existence of a deferred tax asset related to available-for-sale securities in future periods that have not Leases In February 2016, 12 two no not The updated guidance is effective for reporting periods beginning after December 15, 2018, not Contingent Put and Call Options in Debt Instruments In March 2016, not December 15, 2016. not Measurement of Credit Losses on Financial Instruments In June 2016, The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. not Classification of Certain C ash R eceipts and Cash P ayment In Aug ust 2016, eight not December 15, 2017, All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not

Note 2 - Acquisitions

Note 2 - Acquisitions	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 2. Acquisitions On August 1, 2017 May 23, 2017 ( (“Merger”) with Acquisition being the surviving company. Pursuant to the Merger Agreement, the Company exchanged .5841 1,644,458 The Merger was accounted for under the acquisition method of accounting, which requires the consideration transferred and all assets and liabilities assumed to be recorded at fair value. The table on the following page summarizes the preliminary fair value of the consideration transferred and the preliminary fair value of Northern Plains’ assets acquired and liabilities assumed: Fair value of US Alliance common stock issued as consideration $ 3,099,165 Preliminary amounts of indentifiable assets acquired and liablities assumed Investment securities $ 4,623,449 Cash 1,079,627 VOBA 609,061 Other assets 60,080 Policyholder reserves (1,277,411 ) Deposit type contracts (2,029,138 ) Other liabilities (243,608 ) Total indentifiable net assets $ 2,822,060 Goodwill 277,105 Total $ 3,099,165 The fair value of the US Alliance common stock issued as consideration and the assets acquired and liabilities assumed from our Merger with Northern Plains was based on a preliminary valuation and our estimates and assumptions are subject to change within the measurement period. The primary areas that are not . VOBA is being amortized on a straight-line basis over 30 The following table presents unaudited pro forma consolidated total income and net loss as if the Merger had occurred as of January 1, 201 6 Nine Months Ended September 30, 2017 2016 (unaudited) Income: Premium income $ 9,322,648 $ 5,231,372 Net investment income 544,477 396,697 Net realized gain (loss) on sale of securities 483,130 16,031 Other income 11,594 6,987 Total income 10,361,849 5,651,087 Net Loss $ (745,970 ) $ (1,508,555 ) Net Loss per share $ (0.10 ) $ (0.21 ) The unaudited pro forma total income and net loss above was adjusted to eliminate the TPA fees paid by Northern Plains to the Company of $31,250 $50,781 nine September 30, 2017 2016, $201,577 nine September 30, 2017 nine September 30, 2017 2016 $78,379 $21,498,

Note 3 - Investments

Note 3 - Investments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Investment [Text Block]	Note 3 . Investments The amortized cost and fair value of available for sale and held to maturity investments as of September 30, 2017 December 31, 2016 September 30, 2017 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (Unaudited) Available for sale: Fixed maturities: US Treasury securities $ 269,529 $ - $ (29,054 ) $ 240,475 Government agency bonds 299,842 - (539 ) 299,303 Corporate bonds 6,119,784 140,246 (25,617 ) 6,234,413 Municipal bonds 5,570,008 152,099 (19,519 ) 5,702,588 Redeemable preferred stock 99,560 480 - 100,040 Mortgage backed and asset backed securities 2,553,196 38,963 (15,154 ) 2,577,005 Total fixed maturities 14,911,919 331,788 (89,883 ) 15,153,824 Equities: Equities 7,615,226 114,845 (64,574 ) 7,665,497 Total available for sale $ 22,527,145 $ 446,633 $ (154,457 ) $ 22,819,321 December 31, 2016 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 314,992 $ - $ (15,830 ) $ 299,162 Corporate bonds 3,828,418 62,712 (45,234 ) 3,845,896 Municipal bonds 2,841,137 46,883 (38,191 ) 2,849,829 Mortgage backed and asset backed securities 3,333,617 36,870 (45,300 ) 3,325,187 Total fixed maturities 10,318,164 146,465 (144,555 ) 10,320,074 Equities: Equities 4,723,024 350,981 (131,757 ) 4,942,248 Other equity investments 182,929 23,046 (4,719 ) 201,256 Total equities 4,905,953 374,027 (136,476 ) 5,143,504 Total available for sale $ 15,224,117 $ 520,492 $ (281,031 ) $ 15,463,578 The amortized cost and fair value of debt securities as of September 30, 2017, not not may may Amortized September 30, 2017 Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 200,568 $ 200,473 After one year through five years 1,932,156 1,933,444 After five years through ten years 2,490,661 2,517,547 More than 10 years 7,635,778 7,825,315 Redeemable preferred stocks 99,560 100,040 Mortgage backed and asset backed securities 2,553,196 2,577,005 Total fixed maturities $ 14,911,919 $ 15,153,824 Proceeds from the sale of securities, maturities, and asset paydowns for the first nine 2017 2016 $7,520,945 $764,173, Nine Months Ended September 30, (unaudited) 2017 2016 Gross gains $ 486,523 $ 42,719 Gross losses (51,131 ) (2,066 ) Net security gains $ 435,392 $ 40,653 Proceeds from the sale of securities, maturities, and asset paydowns for the three September 30, 2017 2016 $4,688,796 $204,422, three September 30, 2017 2016 Three Months Ended September 30, (unaudited) 2017 2016 Gross gains $ 259,061 $ 29,889 Gross losses (32,171 ) - Net security gains $ 226,890 $ 29,889 Gross unrealized losses by duration are summarized as follows: Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss September 30, 2017 Available for sale: Fixed maturities: US Treasury securities $ 240,475 $ (29,054 ) $ - $ - $ 240,475 $ (29,054 ) Government agency bonds 299,303 (539 ) - - 299,303 (539 ) Corporate bonds 1,734,089 (14,488 ) 798,161 (11,129 ) 2,532,250 (25,617 ) Municipal bonds 1,571,608 (18,464 ) 98,945 (1,055 ) 1,670,553 (19,519 ) Mortgage backed and asset backed securities 995,261 (13,137 ) 92,315 (2,017 ) 1,087,576 (15,154 ) Total fixed maturities 4,840,736 (75,682 ) 989,421 (14,201 ) 5,830,157 (89,883 ) Equities: Equities 1,283,438 (4,999 ) 1,179,505 (59,575 ) 2,462,943 (64,574 ) Total available for sale $ 6,124,174 $ (80,681 ) $ 2,168,926 $ (73,776 ) $ 8,293,100 $ (154,457 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2016 Available for sale: Fixed maturities: US Treasury securities $ 299,162 $ (15,830 ) $ - $ - $ 299,162 $ (15,830 ) Corporate bonds 1,897,000 (42,994 ) 196,399 (2,240 ) 2,093,399 (45,234 ) Municipal bonds 1,296,688 (38,191 ) - - 1,296,688 (38,191 ) Mortgage backed and asset backed securities 1,700,173 (39,264 ) 134,090 (6,036 ) 1,834,263 (45,300 ) Total fixed maturities 5,193,023 (136,279 ) 330,489 (8,276 ) 5,523,512 (144,555 ) Equities: Equities 1,007,860 (59,357 ) 1,063,959 (72,400 ) 2,071,819 (131,757 ) Other equity investments 52,840 (4,719 ) - - 52,840 (4,719 ) Total equities 1,060,700 (64,076 ) 1,063,959 (72,400 ) 2,124,659 (136,476 ) Total available for sale $ 6,253,723 $ (200,355 ) $ 1,394,448 $ (80,676 ) $ 7,648,170 $ (281,031 ) Unrealized losses occur from market price declines that may The total number of securities in the investment portfolio in an unrealized loss position as of September 30, 2017 71, $154,457 71 51 14 1 2 2 1 no September 30, 2017 December 31, 2016. September 30, 2017 $446,663.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 4 . Fair Value Measurements The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. The Company uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1 ● Level 2 1 The Company’s Level 2 ● Level 3 ’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Investments, available for sale : Investments in securities that are classified as available for sale are recorded at fair value utilizing Level 1 2 The following table presents the amounts of assets measured at fair value on a recurring basis as of September 30, 2017 December 31, 2016: September 30, 2017 Total Level 1 Level 2 Level 3 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 240,475 $ 240,475 $ - $ - Government agency bonds 299,303 - 299,303 - Corporate bonds 6,234,413 - 6,234,413 - Municipal bonds 5,702,588 - 5,702,588 - Redeemable preferred stock 100,040 - 100,040 - Mortgage backed and asset backed securities 2,577,005 - 2,577,005 - Total fixed maturities 15,153,824 240,475 14,913,349 - Equities: Equities 7,665,497 7,665,497 - - Total $ 22,819,321 $ 7,905,972 $ 14,913,349 $ - December 31, 2016 Total Level 1 Level 2 Level 3 Available for sale: Fixed maturities: US Treasury securities $ 299,162 $ 299,162 $ - $ - Corporate bonds 3,845,896 - 3,845,896 - Municipal bonds 2,849,829 - 2,849,829 - Mortgage backed and asset backed securities 3,325,187 - 3,325,187 - Total fixed maturities 10,320,074 299,162 10,020,912 - Equities: Equities 4,942,248 4,942,248 - - Other equity investments 201,256 201,256 - - Total equities 5,143,504 5,143,504 - - Total $ 15,463,578 $ 5,442,666 $ 10,020,912 $ - The Company discloses the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not Cash and cash equivalents , investment income due and accrued, and policy loans 1 Policyholder deposits in deposit-type contracts : The fair value for policyholder deposits in deposit-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 the risk-free rates adjusted for credit risk and the nonperformance risk of the liabilities. The estimated fair values of the Company ’s financial assets and liabilities at September 30, 2017 December 31, 2016 September 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value (unaudited) Financial Assets: Cash and cash equivalents $ 11,015,077 $ 11,015,077 $ 3,145,745 $ 3,145,745 Investment income due and accrued 124,745 124,745 100,713 100,713 Policy loans 33,376 33,376 - - Investments, at fair value 22,819,321 22,819,321 15,463,578 15,463,578 Total Financial Assets $ 33,992,519 $ 33,992,519 $ 18,710,036 $ 18,710,036 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 12,749,556 $ 11,950,167 $ 3,398,170 $ 3,260,086 Total Financial Liabilities $ 12,749,556 $ 11,950,167 $ 3,398,170 $ 3,260,086

Note 5 - Income Tax Provision

Note 5 - Income Tax Provision	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5 . Income Tax Provision No September 30, 2017 2016 100% The net operating loss carryforwards for the Company are $6,500,000 $5,050,176 September 30, 2017 December 31, 2016, September 30, 2017 not 100

Note 6 - Warrants

Note 6 - Warrants	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 6 . Warrants The Company conducted its public stock offering through the sale of units. Each unit was sold for $1,000 200 200 $6.00 not February 24, 2016. April 1, 2016. December 31, 2014 2,532,400 February 24, 2015, 2015, 944,845 December 31, 2015 1,587,555 2016, 372,003 Management engaged the services of an experienced valuation firm to value the warrants as of February 24, 2013. $0.01 zero March 31, 2016.

Note 7 - Subsequent Events

Note 7 - Subsequent Events	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	Note 7 . Subsequent Events All of the effects of subsequent events that provide additional evidence about conditions that existed at the balance sheet date, including the estimates inherent in the process of preparing the consolidated financial statements, are recognized in the consolidated financial statements. The Company does not not The Company has evaluated subsequent events through November 13, 2017,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation : The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10 10 X. not The results of operation for the three nine September 30, 2017 not December 31, 2017 not 10 December 31, 2016.
Consolidation, Policy [Policy Text Block]	Principles of consolidation : The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated from the consolidated financial statements.
Reclassification, Policy [Policy Text Block]	Reclassifications: Certain reclassifications of a minor nature have been made to prior-period balances to conform to current-period presentation with no
Area of Operation, Policy [Policy Text Block]	Area of Operation : USALSC is authorized to operate in the states of Kansas, North Dakota, Missouri, Oklahoma and Nebraska. DCLIC is authorized to operate in the state of North Dakota.
Earnings Per Share, Policy [Policy Text Block]	Common stock and earnings (loss) per share: The par value for common stock is $0.10 20,000,000 September 30, 2017, December 31, 2016, 7,296,351 5,565,943 Earnings (loss) per share attributable to the Company ’s common stockholders were computed based on the net loss and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the quarters ended September 30, 2017 2016 6,181,492 5,552,227 nine September 30, 2017 2016 5,698,514 5,395,456 nine September 30, 2017 2016
New Accounting Pronouncements, Policy [Policy Text Block]	New accounting standards Revenue from Contracts with Customers In May 2014, not The following steps are applied in the updated guidance: ( 1 identify the contract(s) with a customer; ( 2 3 4 5 In July 2015, one March 31, 2018. not Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern In August 2014, one If conditions or events raise substantial doubt that is not one The guidance is effective for annual periods ending after December 15, 2016, not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, This guidance is effective for fiscal years beginning after December 15, 2017. not The effect of the adoption of this guidance on the Company ’s results of operations, financial position and liquidity is primarily dependent on the fair value of the available-for-sale equity securities in future periods and the existence of a deferred tax asset related to available-for-sale securities in future periods that have not Leases In February 2016, 12 two no not The updated guidance is effective for reporting periods beginning after December 15, 2018, not Contingent Put and Call Options in Debt Instruments In March 2016, not December 15, 2016. not Measurement of Credit Losses on Financial Instruments In June 2016, The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. not Classification of Certain C ash R eceipts and Cash P ayment In Aug ust 2016, eight not December 15, 2017, All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Fair value of US Alliance common stock issued as consideration $ 3,099,165 Preliminary amounts of indentifiable assets acquired and liablities assumed Investment securities $ 4,623,449 Cash 1,079,627 VOBA 609,061 Other assets 60,080 Policyholder reserves (1,277,411 ) Deposit type contracts (2,029,138 ) Other liabilities (243,608 ) Total indentifiable net assets $ 2,822,060 Goodwill 277,105 Total $ 3,099,165
Business Acquisition, Pro Forma Information [Table Text Block]	Nine Months Ended September 30, 2017 2016 (unaudited) Income: Premium income $ 9,322,648 $ 5,231,372 Net investment income 544,477 396,697 Net realized gain (loss) on sale of securities 483,130 16,031 Other income 11,594 6,987 Total income 10,361,849 5,651,087 Net Loss $ (745,970 ) $ (1,508,555 ) Net Loss per share $ (0.10 ) $ (0.21 )

Note 3 - Investments (Tables)

Note 3 - Investments (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Available-for-sale Securities [Table Text Block]	September 30, 2017 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (Unaudited) Available for sale: Fixed maturities: US Treasury securities $ 269,529 $ - $ (29,054 ) $ 240,475 Government agency bonds 299,842 - (539 ) 299,303 Corporate bonds 6,119,784 140,246 (25,617 ) 6,234,413 Municipal bonds 5,570,008 152,099 (19,519 ) 5,702,588 Redeemable preferred stock 99,560 480 - 100,040 Mortgage backed and asset backed securities 2,553,196 38,963 (15,154 ) 2,577,005 Total fixed maturities 14,911,919 331,788 (89,883 ) 15,153,824 Equities: Equities 7,615,226 114,845 (64,574 ) 7,665,497 Total available for sale $ 22,527,145 $ 446,633 $ (154,457 ) $ 22,819,321 December 31, 2016 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 314,992 $ - $ (15,830 ) $ 299,162 Corporate bonds 3,828,418 62,712 (45,234 ) 3,845,896 Municipal bonds 2,841,137 46,883 (38,191 ) 2,849,829 Mortgage backed and asset backed securities 3,333,617 36,870 (45,300 ) 3,325,187 Total fixed maturities 10,318,164 146,465 (144,555 ) 10,320,074 Equities: Equities 4,723,024 350,981 (131,757 ) 4,942,248 Other equity investments 182,929 23,046 (4,719 ) 201,256 Total equities 4,905,953 374,027 (136,476 ) 5,143,504 Total available for sale $ 15,224,117 $ 520,492 $ (281,031 ) $ 15,463,578
Investments Classified by Contractual Maturity Date [Table Text Block]	Amortized September 30, 2017 Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 200,568 $ 200,473 After one year through five years 1,932,156 1,933,444 After five years through ten years 2,490,661 2,517,547 More than 10 years 7,635,778 7,825,315 Redeemable preferred stocks 99,560 100,040 Mortgage backed and asset backed securities 2,553,196 2,577,005 Total fixed maturities $ 14,911,919 $ 15,153,824
Realized Gain (Loss) on Investments [Table Text Block]	Nine Months Ended September 30, (unaudited) 2017 2016 Gross gains $ 486,523 $ 42,719 Gross losses (51,131 ) (2,066 ) Net security gains $ 435,392 $ 40,653 Three Months Ended September 30, (unaudited) 2017 2016 Gross gains $ 259,061 $ 29,889 Gross losses (32,171 ) - Net security gains $ 226,890 $ 29,889
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]	Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss September 30, 2017 Available for sale: Fixed maturities: US Treasury securities $ 240,475 $ (29,054 ) $ - $ - $ 240,475 $ (29,054 ) Government agency bonds 299,303 (539 ) - - 299,303 (539 ) Corporate bonds 1,734,089 (14,488 ) 798,161 (11,129 ) 2,532,250 (25,617 ) Municipal bonds 1,571,608 (18,464 ) 98,945 (1,055 ) 1,670,553 (19,519 ) Mortgage backed and asset backed securities 995,261 (13,137 ) 92,315 (2,017 ) 1,087,576 (15,154 ) Total fixed maturities 4,840,736 (75,682 ) 989,421 (14,201 ) 5,830,157 (89,883 ) Equities: Equities 1,283,438 (4,999 ) 1,179,505 (59,575 ) 2,462,943 (64,574 ) Total available for sale $ 6,124,174 $ (80,681 ) $ 2,168,926 $ (73,776 ) $ 8,293,100 $ (154,457 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2016 Available for sale: Fixed maturities: US Treasury securities $ 299,162 $ (15,830 ) $ - $ - $ 299,162 $ (15,830 ) Corporate bonds 1,897,000 (42,994 ) 196,399 (2,240 ) 2,093,399 (45,234 ) Municipal bonds 1,296,688 (38,191 ) - - 1,296,688 (38,191 ) Mortgage backed and asset backed securities 1,700,173 (39,264 ) 134,090 (6,036 ) 1,834,263 (45,300 ) Total fixed maturities 5,193,023 (136,279 ) 330,489 (8,276 ) 5,523,512 (144,555 ) Equities: Equities 1,007,860 (59,357 ) 1,063,959 (72,400 ) 2,071,819 (131,757 ) Other equity investments 52,840 (4,719 ) - - 52,840 (4,719 ) Total equities 1,060,700 (64,076 ) 1,063,959 (72,400 ) 2,124,659 (136,476 ) Total available for sale $ 6,253,723 $ (200,355 ) $ 1,394,448 $ (80,676 ) $ 7,648,170 $ (281,031 )

Note 4 - Fair Value Measureme18

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2017 Total Level 1 Level 2 Level 3 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 240,475 $ 240,475 $ - $ - Government agency bonds 299,303 - 299,303 - Corporate bonds 6,234,413 - 6,234,413 - Municipal bonds 5,702,588 - 5,702,588 - Redeemable preferred stock 100,040 - 100,040 - Mortgage backed and asset backed securities 2,577,005 - 2,577,005 - Total fixed maturities 15,153,824 240,475 14,913,349 - Equities: Equities 7,665,497 7,665,497 - - Total $ 22,819,321 $ 7,905,972 $ 14,913,349 $ - December 31, 2016 Total Level 1 Level 2 Level 3 Available for sale: Fixed maturities: US Treasury securities $ 299,162 $ 299,162 $ - $ - Corporate bonds 3,845,896 - 3,845,896 - Municipal bonds 2,849,829 - 2,849,829 - Mortgage backed and asset backed securities 3,325,187 - 3,325,187 - Total fixed maturities 10,320,074 299,162 10,020,912 - Equities: Equities 4,942,248 4,942,248 - - Other equity investments 201,256 201,256 - - Total equities 5,143,504 5,143,504 - - Total $ 15,463,578 $ 5,442,666 $ 10,020,912 $ -
Fair Value, by Balance Sheet Grouping [Table Text Block]	September 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value (unaudited) Financial Assets: Cash and cash equivalents $ 11,015,077 $ 11,015,077 $ 3,145,745 $ 3,145,745 Investment income due and accrued 124,745 124,745 100,713 100,713 Policy loans 33,376 33,376 - - Investments, at fair value 22,819,321 22,819,321 15,463,578 15,463,578 Total Financial Assets $ 33,992,519 $ 33,992,519 $ 18,710,036 $ 18,710,036 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 12,749,556 $ 11,950,167 $ 3,398,170 $ 3,260,086 Total Financial Liabilities $ 12,749,556 $ 11,950,167 $ 3,398,170 $ 3,260,086

Note 1 - Description of Busin19

Note 1 - Description of Business and Significant Accounting Policies (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2017$ / sharesshares	Sep. 30, 2016shares	Sep. 30, 2017$ / sharesshares	Sep. 30, 2016shares	Dec. 31, 2016$ / sharesshares
Number of Third Party Administrative Agreements in Place	1		1
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.10		$ 0.10		$ 0.10
Common Stock, Shares Authorized	20,000,000		20,000,000		20,000,000
Common Stock, Shares, Issued	7,296,351		7,296,351		5,565,943
Common Stock, Shares, Outstanding	7,296,351		7,296,351		5,565,943
Weighted Average Number of Shares Outstanding, Basic and Diluted	6,181,492	5,552,227	5,698,514	5,395,456

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) - Northern Plains [Member]	Aug. 01, 2017shares	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Business Acquisition, Equity Interest Issued or Issuable, Exchange Ratio	0.5841
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	1,644,458
Present Value of Future Insurance Profits, Weighted Average Amortization Period	30 years
Proceeds from Third Party Administrative (TPA) Fees Received		$ 31,250	$ 50,781
Business Combination, Acquisition Related Costs		201,577
Business Acquisition, Pro Forma Information, Adjustments for Amortization of VOBA and Elimination of DAC Amortization		$ 78,379	$ 21,498

Note 2 - Acquisitions - Fair Va

Note 2 - Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($)	Aug. 01, 2017	Sep. 30, 2017	Dec. 31, 2016
Preliminary amounts of indentifiable assets acquired and liablities assumed
Goodwill		$ 277,542
Northern Plains [Member]
Fair value of US Alliance common stock issued as consideration	$ 3,099,165
Preliminary amounts of indentifiable assets acquired and liablities assumed
Investment securities	4,623,449
Cash	1,079,627
VOBA	609,061
Other assets	60,080
Policyholder reserves	(1,277,411)
Deposit type contracts	(2,029,138)
Other liabilities	(243,608)
Total indentifiable net assets	2,822,060
Goodwill	277,105
Total	$ 3,099,165

Note 2 - Acquisitions - Pro For

Note 2 - Acquisitions - Pro Forma Information (Details) - Northern Plains [Member] - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Premium income	$ 9,322,648	$ 5,231,372
Net investment income	544,477	396,697
Net realized gain (loss) on sale of securities	483,130	16,031
Other income	11,594	6,987
Total income	10,361,849	5,651,087
Net Loss	$ (745,970)	$ (1,508,555)
Net Loss per share (in dollars per share)	$ (0.10)	$ (0.21)

Note 3 - Investments (Details T

Note 3 - Investments (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Proceeds from Sale, Maturity and Collection of Investments	$ 4,688,796	$ 204,422	$ 7,520,945	$ 764,173
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	71		71
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	$ 154,457		$ 154,457		$ 281,031
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities			0		$ 0
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax	$ 446,663		$ 446,663
Fixed Income Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	51		51
Collateralized Mortgage Backed Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	14		14
Common Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	1		1
Corporate Debt Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	2		2
Preferred Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	2		2
Senior Loan Fund [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	1		1

Note 3 - Investments - Amortize

Note 3 - Investments - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Investments (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Cost or Amortized Cost	$ 22,527,145	$ 15,224,117
Gross Unrealized Gains	446,633	520,492
Gross Unrealized Losses	(154,457)	(281,031)
Available for sale securities	22,819,321	15,463,578
Fixed Maturities [Member]
Cost or Amortized Cost	14,911,919	10,318,164
Gross Unrealized Gains	331,788	146,465
Gross Unrealized Losses	(89,883)	(144,555)
Available for sale securities	15,153,824	10,320,074
Equity Securities [Member]
Cost or Amortized Cost	7,615,226	4,723,024
Gross Unrealized Gains	114,845	350,981
Gross Unrealized Losses	(64,574)	(131,757)
Available for sale securities	7,665,497	4,942,248
Other Equity Investments [Member]
Cost or Amortized Cost		182,929
Gross Unrealized Gains		23,046
Gross Unrealized Losses		(4,719)
Available for sale securities		201,256
Equities, Including Equity Securities and Other Equity Investments [Member]
Cost or Amortized Cost	7,615,226	4,905,953
Gross Unrealized Gains		374,027
Gross Unrealized Losses		(136,476)
Available for sale securities	7,665,497	5,143,504
US Treasury Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	269,529	314,992
Gross Unrealized Gains
Gross Unrealized Losses	(29,054)	(15,830)
Available for sale securities	240,475	299,162
US Government Agencies Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	299,842
Gross Unrealized Gains
Gross Unrealized Losses	(539)
Available for sale securities	299,303
Corporate Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	6,119,784	3,828,418
Gross Unrealized Gains	140,246	62,712
Gross Unrealized Losses	(25,617)	(45,234)
Available for sale securities	6,234,413	3,845,896
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	5,570,008	2,841,137
Gross Unrealized Gains	152,099	46,883
Gross Unrealized Losses	(19,519)	(38,191)
Available for sale securities	5,702,588	2,849,829
Collateralized Mortgage Backed Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	2,553,196	3,333,617
Gross Unrealized Gains	38,963	36,870
Gross Unrealized Losses	(15,154)	(45,300)
Available for sale securities	2,577,005	$ 3,325,187
Redeemable Preferred Stock [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	99,560
Gross Unrealized Gains	480
Gross Unrealized Losses
Available for sale securities	$ 100,040

Note 3 - Investments - Amorti25

Note 3 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details)	Sep. 30, 2017USD ($)
One year or less, amortized cost	$ 200,568
One year or less, fair value	200,473
After one year through five years, amortized cost	1,932,156
After one year through five years, fair value	1,933,444
After five years through ten years, amortized cost	2,490,661
After five years through ten years, fair value	2,517,547
More than 10 years, amortized cost	7,635,778
More than 10 years, fair value	7,825,315
Total fixed maturities, amortized cost	14,911,919
Total fixed maturities, fair value	15,153,824
Redeemable Preferred Stock [Member]
Debt securities, amortized cost	99,560
Debt securities, fair value	100,040
Collateralized Mortgage Backed Securities [Member]
Debt securities, amortized cost	2,553,196
Debt securities, fair value	$ 2,577,005

Note 3 - Investments - Realized

Note 3 - Investments - Realized Gains and Losses Related to the Sale of Securities (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Gross gains	$ 259,061	$ 29,889	$ 486,523	$ 42,719
Gross losses	(32,171)		(51,131)	(2,066)
Net security gains	$ 226,890	$ 29,889	$ 435,392	$ 40,653

Note 3 - Investments - Gross Un

Note 3 - Investments - Gross Unrealized Losses (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Available-for-sale securities, less than 12 months, fair value	$ 6,124,174	$ 6,253,723
Available-for-sale securities, less than 12 months, unrealized loss	(80,681)	(200,355)
Available-for-sale securities, greater than 12 months, fair value	2,168,926	1,394,448
Available-for-sale securities, greater than 12 months, unrealized loss	(73,776)	(80,676)
Available-for-sale securities, fair value	8,293,100	7,648,170
Available-for-sale securities, unrealized loss	(154,457)	(281,031)
Fixed Maturities [Member]
Available-for-sale securities, less than 12 months, fair value	4,840,736	5,193,023
Available-for-sale securities, less than 12 months, unrealized loss	(75,682)	(136,279)
Available-for-sale securities, greater than 12 months, fair value	989,421	330,489
Available-for-sale securities, greater than 12 months, unrealized loss	(14,201)	(8,276)
Available-for-sale securities, fair value	5,830,157	5,523,512
Available-for-sale securities, unrealized loss	(89,883)	(144,555)
Fixed Maturities [Member] | US Treasury Securities [Member]
Available-for-sale securities, less than 12 months, fair value	240,475	299,162
Available-for-sale securities, less than 12 months, unrealized loss	(29,054)	(15,830)
Available-for-sale securities, greater than 12 months, fair value
Available-for-sale securities, greater than 12 months, unrealized loss
Available-for-sale securities, fair value	240,475	299,162
Available-for-sale securities, unrealized loss	(29,054)	(15,830)
Fixed Maturities [Member] | US Government Agencies Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	299,303
Available-for-sale securities, less than 12 months, unrealized loss	(539)
Available-for-sale securities, greater than 12 months, fair value
Available-for-sale securities, greater than 12 months, unrealized loss
Available-for-sale securities, fair value	299,303
Available-for-sale securities, unrealized loss	(539)
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	1,734,089	1,897,000
Available-for-sale securities, less than 12 months, unrealized loss	(14,488)	(42,994)
Available-for-sale securities, greater than 12 months, fair value	798,161	196,399
Available-for-sale securities, greater than 12 months, unrealized loss	(11,129)	(2,240)
Available-for-sale securities, fair value	2,532,250	2,093,399
Available-for-sale securities, unrealized loss	(25,617)	(45,234)
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	1,571,608	1,296,688
Available-for-sale securities, less than 12 months, unrealized loss	(18,464)	(38,191)
Available-for-sale securities, greater than 12 months, fair value	98,945
Available-for-sale securities, greater than 12 months, unrealized loss	(1,055)
Available-for-sale securities, fair value	1,670,553	1,296,688
Available-for-sale securities, unrealized loss	(19,519)	(38,191)
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	995,261	1,700,173
Available-for-sale securities, less than 12 months, unrealized loss	(13,137)	(39,264)
Available-for-sale securities, greater than 12 months, fair value	92,315	134,090
Available-for-sale securities, greater than 12 months, unrealized loss	(2,017)	(6,036)
Available-for-sale securities, fair value	1,087,576	1,834,263
Available-for-sale securities, unrealized loss	(15,154)	(45,300)
Equity Securities [Member]
Available-for-sale securities, less than 12 months, fair value	1,283,438	1,007,860
Available-for-sale securities, less than 12 months, unrealized loss	(4,999)	(59,357)
Available-for-sale securities, greater than 12 months, fair value	1,179,505	1,063,959
Available-for-sale securities, greater than 12 months, unrealized loss	(59,575)	(72,400)
Available-for-sale securities, fair value	2,462,943	2,071,819
Available-for-sale securities, unrealized loss	$ (64,574)	(131,757)
Other Equity Investments [Member]
Available-for-sale securities, less than 12 months, fair value		52,840
Available-for-sale securities, less than 12 months, unrealized loss		(4,719)
Available-for-sale securities, greater than 12 months, fair value
Available-for-sale securities, greater than 12 months, unrealized loss
Available-for-sale securities, fair value		52,840
Available-for-sale securities, unrealized loss		(4,719)
Equities, Including Equity Securities and Other Equity Investments [Member]
Available-for-sale securities, less than 12 months, fair value		1,060,700
Available-for-sale securities, less than 12 months, unrealized loss		(64,076)
Available-for-sale securities, greater than 12 months, fair value		1,063,959
Available-for-sale securities, greater than 12 months, unrealized loss		(72,400)
Available-for-sale securities, fair value		2,124,659
Available-for-sale securities, unrealized loss		$ (136,476)

Note 4 - Fair Value Measureme28

Note 4 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Available for sale securities	$ 22,819,321	$ 15,463,578
Fair Value, Measurements, Recurring [Member]
Available for sale securities	22,819,321	15,463,578
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	7,905,972	5,442,666
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	14,913,349	10,020,912
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member]
Available for sale securities	15,153,824	10,320,074
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	15,153,824	10,320,074
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	240,475	299,162
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	14,913,349	10,020,912
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | US Treasury Securities [Member]
Available for sale securities	240,475	299,162
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	240,475	299,162
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	240,475	299,162
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | US Government Agencies Debt Securities [Member]
Available for sale securities	299,303
Fixed Maturities [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	299,303
Fixed Maturities [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Fixed Maturities [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	299,303
Fixed Maturities [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available for sale securities	6,234,413	3,845,896
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	6,234,413	3,845,896
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	6,234,413	3,845,896
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available for sale securities	5,702,588	2,849,829
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	5,702,588	2,849,829
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	5,702,588	2,849,829
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available for sale securities	2,577,005	3,325,187
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	2,577,005	3,325,187
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	2,577,005	3,325,187
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Available for sale securities	100,040
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	100,040
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	100,040
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Equity Securities [Member]
Available for sale securities	7,665,497	4,942,248
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	7,665,497	4,942,248
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	7,665,497	4,942,248
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Other Equity Investments [Member]
Available for sale securities		201,256
Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities		201,256
Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities		201,256
Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Equities, Including Equity Securities and Other Equity Investments [Member]
Available for sale securities	$ 7,665,497	5,143,504
Equities, Including Equity Securities and Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities		5,143,504
Equities, Including Equity Securities and Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities		5,143,504
Equities, Including Equity Securities and Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Equities, Including Equity Securities and Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities

Note 4 - Fair Value Measureme29

Note 4 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Assets and Liabilities (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Reported Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	$ 11,015,077	$ 3,145,745
Investment income due and accrued	124,745	100,713
Policy loans	33,376
Investments, at fair value	22,819,321	15,463,578
Total Financial Assets	33,992,519	18,710,036
Financial Liabilities:
Policyholder deposits in deposit-type contracts	12,749,556	3,398,170
Total Financial Liabilities	12,749,556	3,398,170
Estimate of Fair Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	11,015,077	3,145,745
Investment income due and accrued	124,745	100,713
Policy loans	33,376
Investments, at fair value	22,819,321	15,463,578
Total Financial Assets	33,992,519	18,710,036
Financial Liabilities:
Policyholder deposits in deposit-type contracts	11,950,167	3,260,086
Total Financial Liabilities	$ 11,950,167	$ 3,260,086

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Tax Expense (Benefit)	$ 0	$ 0
Deferred Tax Assets, Valuation Allowance, Percentage	100.00%	100.00%
Operating Loss Carryforwards	$ 6,500,000		$ 5,050,176

Note 6 - Warrants (Details Text

Note 6 - Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016	Dec. 31, 2014	Feb. 24, 2013
Equity Unit, Original Price Per Unit at Issuance					$ 1,000
Equity Unit, Number of Shares of Common Stock in Each Unit					200
Equity Unit, Number of Common Stock Warrants in Each Unit					200
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 6
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		1,587,555		2,532,400
Stock Issued During Period, Shares, Warrants Exercised	372,003	944,845
Class of Warrant or Right, Value Per Share of Common Stock					$ 0.01
Warrants and Rights Outstanding			$ 0