US Alliance 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 07, 2018
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)		7,378,496
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Assets
Available for sale securities	$ 33,594,120	$ 33,609,215
Cash and cash equivalents	1,171,351	651,809
Investment income due and accrued	237,932	214,998
Policy loans	32,645	33,975
Reinsurance related assets	182,903	249,879
Deferred acquisition costs, net	2,901,406	2,963,057
Value of business acquired, net	595,525	600,601
Property, equipment and software, net	212,272	221,077
Goodwill	277,542	277,542
Other assets	133,020	166,184
Total assets	39,338,716	38,988,337
Liabilities:
Deposit-type contracts	14,185,460	13,448,891
Policyholder benefit reserves	11,368,561	10,632,009
Advance premiums	923,419	864,477
Total policy liabilities	26,477,440	24,945,377
Accounts payable and accrued expenses	97,758	98,382
Other liabilities	15,709	8,876
Total liabilities	26,590,907	25,052,635
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,357,157 and 7,310,939 shares as of March 31, 2018 and December 31, 2017, respectively	735,717	731,095
Additional paid-in capital	21,479,626	21,280,437
Accumulated deficit	(8,884,026)	(8,481,268)
Accumulated other comprehensive income (loss)	(583,508)	405,438
Total shareholders' equity	12,747,809	13,935,702
Total liabilities and shareholders' equity	39,338,716	38,988,337
Fixed Maturities [Member]
Assets
Available for sale securities	22,790,101	22,945,700
Equities, Including Equity Securities and Other Equity Investments [Member]
Assets
Available for sale securities	$ 10,804,019	$ 10,663,515

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Available for sale securities, amortized cost	$ 34,177,607	$ 33,203,777
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)	7,357,157	7,310,939
Common stock, shares outstanding (in shares)	7,357,157	7,310,939
Fixed Maturities [Member]
Available for sale securities, amortized cost	$ 23,113,694	$ 22,439,705
Equities, Including Equity Securities and Other Equity Investments [Member]
Available for sale securities, amortized cost	$ 11,063,913	$ 10,764,072

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income:
Premium income	$ 2,432,096	$ 1,749,928
Net investment income	311,560	126,020
Net realized gain on sale of securities		192,405
Other income	9,246	20,202
Total income	2,752,902	2,088,555
Expenses:
Death claims	235,374	291,150
Policyholder benefits	1,127,682	937,401
Increase in policyholder reserves	796,636	402,739
Commissions, net of deferrals	152,157	124,291
Amortization of deferred acquisition costs	90,355	37,764
Amortization of value of business acquired	5,076
Salaries & benefits	274,848	178,192
Other operating expenses	473,532	285,766
Total expense	3,155,660	2,257,303
Net loss	$ (402,758)	$ (168,748)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.05)	$ (0.03)
Unrealized net holding gains(losses) arising during the period	$ (988,946)	$ 215,442
Reclassification adjustment for gains included in net loss		(192,405)
Other comprehensive income	(988,946)	23,037
Comprehensive loss	$ (1,391,704)	$ (145,711)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
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)	17,759
Common stock issued, $7 per share	$ 1,776	122,537			124,313
Costs associated with common stock issued		(70,101)			(70,101)
Other comprehensive income			23,037		23,037
Net loss				(168,748)	(168,748)
Balance (in shares) at Mar. 31, 2017	5,583,702
Balance at Mar. 31, 2017	$ 558,371	18,069,599	262,498	(7,600,984)	11,289,484
Balance (in shares) at Dec. 31, 2017	7,310,939
Balance at Dec. 31, 2017	$ 731,095	21,280,437	405,438	(8,481,268)	13,935,702
Common stock issued, $7 per share (in shares)	46,218
Common stock issued, $7 per share	$ 4,622	318,905			323,527
Costs associated with common stock issued		(119,716)			(119,716)
Other comprehensive income			(988,946)		(988,946)
Net loss				(402,758)	(402,758)
Balance (in shares) at Mar. 31, 2018	7,357,157
Balance at Mar. 31, 2018	$ 735,717	$ 21,479,626	$ (583,508)	$ (8,884,026)	$ 12,747,809

Consolidated Statements of Cha6

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Common Stock [Member]
Common stock, price per share (in dollars per share)	$ 7	$ 7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows from Operating Activities:
Net loss	$ (402,758)	$ (168,748)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	8,805	8,584
Net realized gains on the sale of securities		(192,405)
Amortization of investment securities, net	13,947	8,789
Deferred acquisition costs capitalized	(64,638)	(70,818)
Deferred acquisition costs amortized	90,355	37,764
Value of business acquired amortized	5,076
Interest credited on deposit type contracts	131,779	16,597
Interest on policy loans	(619)
(Increase) decrease in operating assets:
Investment income due and accrued	(22,934)	6,255
Reinsurance related assets	66,976	(207)
Other assets	33,164	(22,502)
Increase (decrease) in operating liabilities:
Policyowner benefit reserves	736,552	389,568
Advance premiums	58,942	11,247
Other liabilities	6,833	14,352
Accounts payable and accrued expenses	(624)	2,796
Net cash provided by operating activities	660,855	41,272
Cash Flows from Investing Activities:
Purchase of fixed income investments	(715,128)	(1,479,152)
Purchase of equity investments	(300,174)	(180,567)
Proceeds from fixed income sales and repayments	28,126	154,696
Policy loans issued	1,330
Net cash used in investing activities	(985,846)	(1,505,023)
Cash Flows from Financing Activities:
Receipts on deposit-type contracts	1,064,901	579,215
Withdrawals on deposit-type contracts	(424,178)	(137,761)
Proceeds received from issuance of common stock, net of costs of issuance	203,811	54,212
Net cash provided by financing activities	844,533	495,666
Net increase (decrease) in cash and cash equivalents	519,542	(968,085)
Cash and Cash Equivalents:
Beginning	651,809	3,145,745
Ending	$ 1,171,351	$ 2,177,660

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. Description of business 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, February 24, 2019. 4 th 2017, The Company began offering third 2015. one Basis of presentation 10 10 X. not The results of operation for the three March 31, 2018 not December 31, 2018 not 10 December 31, 2017. Principles of consolidation Reclassifications: no Area of Operation Common stock and earnings (loss) per share: $0.10 20,000,000 March 31, 2018, December 31, 2017, 7,357,157 7,310,939 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 March 31, 2018 2017 7,326,345 5,571,529 March 31, 2018 2017 New accounting standards Revenue from Contracts with Customers In May 2014, not The following steps are applied in the updated guidance: ( 1 2 3 4 5 In July 2015, one March 31, 2018. December 31, 2019. 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. December 15, 2018. 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, December 15, 2019. not Contingent Put and Call Options in Debt Instruments In March 2016, not December 15, 2016. December 15, 2017. 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. December 15, 2020. not Classification of Certain C ash R eceipts and Cash P ayment In August 2016, eight not December 15, 2017, December 15, 2018. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On December 22, 2017, H.R.1, 2018 February 2018, December 15, 2018, not 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 - Investments

Note 2 - Investments	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Investment [Text Block]	Note 2 . Investments The amortized cost and fair value of available for sale and held to maturity investments as of March 31, 2018 December 31, 2017 March 31, 2018 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: (unaudited) Fixed maturities: US Treasury securities $ 272,913 $ - $ (7,915 ) $ 264,998 Corporate bonds 12,566,894 63,022 (395,758 ) 12,234,158 Municipal bonds 6,127,636 156,888 (69,353 ) 6,215,171 Redeemable preferred stock 99,560 - (3,120 ) 96,440 Mortgage backed and asset backed securities 4,046,691 17,144 (84,501 ) 3,979,334 Total fixed maturities 23,113,694 237,054 (560,647 ) 22,790,101 Equities: Equities 11,063,913 62,049 (321,943 ) 10,804,019 Total available for sale $ 34,177,607 $ 299,103 $ (882,590 ) $ 33,594,120 December 31, 2017 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 271,620 $ - $ (20,870 ) $ 250,750 Corporate bonds 11,857,191 309,754 (10,720 ) 12,156,225 Municipal bonds 6,134,323 230,842 (12,721 ) 6,352,444 Redeemable preferred stock 99,560 960 - 100,520 Mortgage backed and asset backed securities 4,077,011 32,726 (23,976 ) 4,085,761 Total fixed maturities 22,439,705 574,282 (68,287 ) 22,945,700 Equities: Equities 10,764,072 83,346 (183,903 ) 10,663,515 Total available for sale $ 33,203,777 $ 657,628 $ (252,190 ) $ 33,609,215 The amortized cost and fair value of debt securities as of March 31, 2018 December 31, 2017, not not may may As of March 31, 2018 As of December 31, 2017 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: After one year through five years $ 911,496 $ 901,495 $ 612,088 $ 617,562 After five years through ten years 1,756,916 1,738,030 1,910,307 1,945,454 More than 10 years 16,299,031 16,074,802 15,740,739 16,196,403 Redeemable preferred stocks 99,560 96,440 99,560 100,520 Mortgage backed and asset backed securities 4,046,691 3,979,334 4,077,011 4,085,761 $ 23,113,694 $ 22,790,101 $ 22,439,705 $ 22,945,700 Proceeds from the sale of securities, maturities, and asset paydowns for the first three 2018 2017 $28,126 $154,696 Three Months Ended March 31, (unaudited) 2018 2017 Gross gains $ - $ 192,405 Gross losses - - Net security gains $ - $ 192,405 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 March 31, 2018 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 264,998 $ (7,915 ) $ - $ - $ 264,998 $ (7,915 ) Corporate bonds 9,742,140 (387,703 ) 118,558 (8,055 ) 9,860,698 (395,758 ) Municipal bonds 2,877,822 (55,611 ) 186,258 (13,742 ) 3,064,080 (69,353 ) Redeemable preferred stock 96,440 (3,120 ) - - 96,440 (3,120 ) Mortgage backed and asset backed securities 2,494,930 (55,483 ) 629,366 (29,018 ) 3,124,296 (84,501 ) Total fixed maturities 15,476,330 (509,832 ) 934,182 (50,815 ) 16,410,512 (560,647 ) Equities: Equities 7,950,828 (226,383 ) 1,243,902 (95,560 ) 9,194,730 (321,943 ) Total available for sale $ 23,427,159 $ (736,215 ) $ 2,178,084 $ (146,375 ) $ 25,605,242 $ (882,590 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2017 Available for sale: Fixed maturities: US Treasury securities $ 250,750 $ (20,870 ) $ - $ - $ 250,750 $ (20,870 ) Corporate bonds 848,853 (5,733 ) 121,718 (4,987 ) 970,571 (10,720 ) Municipal bonds 735,257 (5,683 ) 192,962 (7,038 ) 928,219 (12,721 ) Mortgage backed and asset backed securities 2,056,887 (6,970 ) 654,936 (17,006 ) 2,711,823 (23,976 ) Total fixed maturities 3,891,747 (39,256 ) 969,616 (29,031 ) 4,861,363 (68,287 ) Equities: Equities 7,971,440 (105,946 ) 1,161,121 (77,957 ) 9,132,561 (183,903 ) Total available for sale $ 11,863,187 $ (145,202 ) $ 2,130,737 $ (106,988 ) $ 13,993,924 $ (252,190 ) Unrealized losses occur from market price declines may The total number of securities in the investment portfolio in an unrealized loss position as of March 31, 2018 116, $882,590 116 81 27 4 2 1 1 no March 31, 2018 December 31, 2017. March 31, 2018 $299,081.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
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 ● Level 3 Investments, available for sale third third The following table presents the amounts of assets measured at fair value on a recurring basis as of March 31, 2018 December 31, 2017: March 31, 2018 Total Level 1 Level 2 Level 3 Available for sale: (unaudited) Fixed maturities: US Treasury securities $ 264,998 $ 264,998 $ - $ - Corporate bonds 12,234,158 - 12,034,158 200,000 Municipal bonds 6,215,171 - 6,215,171 - Redeemable preferred stock 96,440 - 96,440 - Mortgage backed and asset backed securities 3,979,334 - 3,979,334 - Total fixed maturities 22,790,101 264,998 22,325,103 200,000 Equities: Equities 10,804,019 10,804,019 - - Total $ 33,594,120 $ 11,069,017 $ 22,325,103 $ 200,000 December 31, 2017 Total Level 1 Level 2 Level 3 Available for sale: Fixed maturities: US Treasury securities $ 250,750 $ 250,750 $ - $ - Corporate bonds 12,156,225 - 11,956,225 200,000 Municipal bonds 6,352,444 - 6,352,444 - Redeemable preferred stock 100,520 - 100,520 - Mortgage backed and asset backed securities 4,085,761 - 4,085,761 - Total fixed maturities 22,945,700 250,750 22,494,950 200,000 Equities: Equities 10,663,515 10,663,515 - - Total $ 33,609,215 $ 10,914,265 $ 22,494,950 $ 200,000 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: Policy loans Policyholder deposits in deposit-type contracts The estimated fair values of the Company’s financial assets and liabilities at March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 (unaudited) Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and cash equivalents $ 1,171,351 $ 1,171,351 $ 651,809 $ 651,809 Investment income due and accrued 237,932 237,932 214,998 214,998 Policy loans 32,645 32,645 33,975 33,975 Investments, at fair value 33,594,120 33,594,120 33,609,215 33,609,215 Total Financial Assets $ 35,036,048 $ 35,036,048 $ 34,509,997 $ 34,509,997 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 14,185,460 $ 13,010,977 $ 13,448,891 $ 12,508,470 Total Financial Liabilities $ 14,185,460 $ 13,010,977 $ 13,448,891 $ 12,508,470

Note 5 - Income Tax Provision

Note 5 - Income Tax Provision	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5 . Income Tax Provision No March 31, 2018 2017 100% The net operating loss carryforwards for the Company are $12,285,000 $11,886,891 March 31, 2018 December 31, 2017, 100

Note 6 - Subsequent Events

Note 6 - Subsequent Events	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	Note 6 . 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 May 14, 2018,

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation 10 10 X. not The results of operation for the three March 31, 2018 not December 31, 2018 not 10 December 31, 2017.
Consolidation, Policy [Policy Text Block]	Principles of consolidation
Reclassification, Policy [Policy Text Block]	Reclassifications: no
Area of Operation, Policy [Policy Text Block]	Area of Operation
Earnings Per Share, Policy [Policy Text Block]	Common stock and earnings (loss) per share: $0.10 20,000,000 March 31, 2018, December 31, 2017, 7,357,157 7,310,939 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 March 31, 2018 2017 7,326,345 5,571,529 March 31, 2018 2017
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 2 3 4 5 In July 2015, one March 31, 2018. December 31, 2019. 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. December 15, 2018. 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, December 15, 2019. not Contingent Put and Call Options in Debt Instruments In March 2016, not December 15, 2016. December 15, 2017. 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. December 15, 2020. not Classification of Certain C ash R eceipts and Cash P ayment In August 2016, eight not December 15, 2017, December 15, 2018. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On December 22, 2017, H.R.1, 2018 February 2018, December 15, 2018, not 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 - Investments (Tables)

Note 2 - Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Available-for-sale Securities [Table Text Block]	March 31, 2018 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: (unaudited) Fixed maturities: US Treasury securities $ 272,913 $ - $ (7,915 ) $ 264,998 Corporate bonds 12,566,894 63,022 (395,758 ) 12,234,158 Municipal bonds 6,127,636 156,888 (69,353 ) 6,215,171 Redeemable preferred stock 99,560 - (3,120 ) 96,440 Mortgage backed and asset backed securities 4,046,691 17,144 (84,501 ) 3,979,334 Total fixed maturities 23,113,694 237,054 (560,647 ) 22,790,101 Equities: Equities 11,063,913 62,049 (321,943 ) 10,804,019 Total available for sale $ 34,177,607 $ 299,103 $ (882,590 ) $ 33,594,120 December 31, 2017 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 271,620 $ - $ (20,870 ) $ 250,750 Corporate bonds 11,857,191 309,754 (10,720 ) 12,156,225 Municipal bonds 6,134,323 230,842 (12,721 ) 6,352,444 Redeemable preferred stock 99,560 960 - 100,520 Mortgage backed and asset backed securities 4,077,011 32,726 (23,976 ) 4,085,761 Total fixed maturities 22,439,705 574,282 (68,287 ) 22,945,700 Equities: Equities 10,764,072 83,346 (183,903 ) 10,663,515 Total available for sale $ 33,203,777 $ 657,628 $ (252,190 ) $ 33,609,215
Investments Classified by Contractual Maturity Date [Table Text Block]	As of March 31, 2018 As of December 31, 2017 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: After one year through five years $ 911,496 $ 901,495 $ 612,088 $ 617,562 After five years through ten years 1,756,916 1,738,030 1,910,307 1,945,454 More than 10 years 16,299,031 16,074,802 15,740,739 16,196,403 Redeemable preferred stocks 99,560 96,440 99,560 100,520 Mortgage backed and asset backed securities 4,046,691 3,979,334 4,077,011 4,085,761 $ 23,113,694 $ 22,790,101 $ 22,439,705 $ 22,945,700
Realized Gain (Loss) on Investments [Table Text Block]	Three Months Ended March 31, (unaudited) 2018 2017 Gross gains $ - $ 192,405 Gross losses - - Net security gains $ - $ 192,405
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 March 31, 2018 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 264,998 $ (7,915 ) $ - $ - $ 264,998 $ (7,915 ) Corporate bonds 9,742,140 (387,703 ) 118,558 (8,055 ) 9,860,698 (395,758 ) Municipal bonds 2,877,822 (55,611 ) 186,258 (13,742 ) 3,064,080 (69,353 ) Redeemable preferred stock 96,440 (3,120 ) - - 96,440 (3,120 ) Mortgage backed and asset backed securities 2,494,930 (55,483 ) 629,366 (29,018 ) 3,124,296 (84,501 ) Total fixed maturities 15,476,330 (509,832 ) 934,182 (50,815 ) 16,410,512 (560,647 ) Equities: Equities 7,950,828 (226,383 ) 1,243,902 (95,560 ) 9,194,730 (321,943 ) Total available for sale $ 23,427,159 $ (736,215 ) $ 2,178,084 $ (146,375 ) $ 25,605,242 $ (882,590 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2017 Available for sale: Fixed maturities: US Treasury securities $ 250,750 $ (20,870 ) $ - $ - $ 250,750 $ (20,870 ) Corporate bonds 848,853 (5,733 ) 121,718 (4,987 ) 970,571 (10,720 ) Municipal bonds 735,257 (5,683 ) 192,962 (7,038 ) 928,219 (12,721 ) Mortgage backed and asset backed securities 2,056,887 (6,970 ) 654,936 (17,006 ) 2,711,823 (23,976 ) Total fixed maturities 3,891,747 (39,256 ) 969,616 (29,031 ) 4,861,363 (68,287 ) Equities: Equities 7,971,440 (105,946 ) 1,161,121 (77,957 ) 9,132,561 (183,903 ) Total available for sale $ 11,863,187 $ (145,202 ) $ 2,130,737 $ (106,988 ) $ 13,993,924 $ (252,190 )

Note 4 - Fair Value Measureme15

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	March 31, 2018 Total Level 1 Level 2 Level 3 Available for sale: (unaudited) Fixed maturities: US Treasury securities $ 264,998 $ 264,998 $ - $ - Corporate bonds 12,234,158 - 12,034,158 200,000 Municipal bonds 6,215,171 - 6,215,171 - Redeemable preferred stock 96,440 - 96,440 - Mortgage backed and asset backed securities 3,979,334 - 3,979,334 - Total fixed maturities 22,790,101 264,998 22,325,103 200,000 Equities: Equities 10,804,019 10,804,019 - - Total $ 33,594,120 $ 11,069,017 $ 22,325,103 $ 200,000 December 31, 2017 Total Level 1 Level 2 Level 3 Available for sale: Fixed maturities: US Treasury securities $ 250,750 $ 250,750 $ - $ - Corporate bonds 12,156,225 - 11,956,225 200,000 Municipal bonds 6,352,444 - 6,352,444 - Redeemable preferred stock 100,520 - 100,520 - Mortgage backed and asset backed securities 4,085,761 - 4,085,761 - Total fixed maturities 22,945,700 250,750 22,494,950 200,000 Equities: Equities 10,663,515 10,663,515 - - Total $ 33,609,215 $ 10,914,265 $ 22,494,950 $ 200,000
Fair Value, by Balance Sheet Grouping [Table Text Block]	March 31, 2018 December 31, 2017 (unaudited) Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and cash equivalents $ 1,171,351 $ 1,171,351 $ 651,809 $ 651,809 Investment income due and accrued 237,932 237,932 214,998 214,998 Policy loans 32,645 32,645 33,975 33,975 Investments, at fair value 33,594,120 33,594,120 33,609,215 33,609,215 Total Financial Assets $ 35,036,048 $ 35,036,048 $ 34,509,997 $ 34,509,997 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 14,185,460 $ 13,010,977 $ 13,448,891 $ 12,508,470 Total Financial Liabilities $ 14,185,460 $ 13,010,977 $ 13,448,891 $ 12,508,470

Note 1 - Description of Busin16

Note 1 - Description of Business and Significant Accounting Policies (Details Textual) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Common Stock, Par or Stated Value Per Share	$ 0.10		$ 0.10
Common Stock, Shares Authorized	20,000,000		20,000,000
Common Stock, Shares, Issued, Total	7,357,157		7,310,939
Common Stock, Shares, Outstanding, Ending Balance	7,357,157		7,310,939
Weighted Average Number of Shares Outstanding, Basic and Diluted	7,326,345	5,571,529

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Proceeds from Sale, Maturity and Collection of Investments, Total	$ 28,126	$ 154,696
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	116
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax, Total	$ 882,590		$ 252,190
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total	0		$ 0
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax	$ 299,081
Fixed Income Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	81
Collateralized Mortgage Backed Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	27
Preferred Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	4
Corporate Debt Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	2
Preferred Stock Index Fund [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1
Senior Loan Fund [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1

Note 2 - Investments - Amortize

Note 2 - Investments - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Investments (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Cost or Amortized Cost	$ 34,177,607	$ 33,203,777
Gross Unrealized Gains	299,103	657,628
Gross Unrealized Losses	(882,590)	(252,190)
Investments in available-for-sale securities, at fair value	33,594,120	33,609,215
Available for sale securities, amortized cost	34,177,607	33,203,777
Available for sale securities	33,594,120	33,609,215
Fixed Maturities [Member]
Cost or Amortized Cost	23,113,694	22,439,705
Gross Unrealized Gains	237,054	574,282
Gross Unrealized Losses	(560,647)	(68,287)
Investments in available-for-sale securities, at fair value	22,790,101	22,945,700
Available for sale securities, amortized cost	23,113,694	22,439,705
Available for sale securities	22,790,101	22,945,700
Equity Securities [Member]
Cost or Amortized Cost	11,063,913	10,764,072
Gross Unrealized Gains	62,049	83,346
Gross Unrealized Losses	(321,943)	(183,903)
Investments in available-for-sale securities, at fair value	10,804,019	10,663,515
Available for sale securities, amortized cost	11,063,913	10,764,072
Available for sale securities	10,804,019	10,663,515
US Treasury Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	272,913	271,620
Gross Unrealized Gains
Gross Unrealized Losses	(7,915)	(20,870)
Investments in available-for-sale securities, at fair value	264,998	250,750
Available for sale securities, amortized cost	272,913	271,620
Available for sale securities	264,998	250,750
Corporate Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	12,566,894	11,857,191
Gross Unrealized Gains	63,022	309,754
Gross Unrealized Losses	(395,758)	(10,720)
Investments in available-for-sale securities, at fair value	12,234,158	12,156,225
Available for sale securities, amortized cost	12,566,894	11,857,191
Available for sale securities	12,234,158	12,156,225
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	6,127,636	6,134,323
Gross Unrealized Gains	156,888	230,842
Gross Unrealized Losses	(69,353)	(12,721)
Investments in available-for-sale securities, at fair value	6,215,171	6,352,444
Available for sale securities, amortized cost	6,127,636	6,134,323
Available for sale securities	6,215,171	6,352,444
Redeemable Preferred Stock [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	99,560	99,560
Gross Unrealized Gains		960
Gross Unrealized Losses	(3,120)
Investments in available-for-sale securities, at fair value	96,440	100,520
Available for sale securities, amortized cost	99,560	99,560
Available for sale securities	96,440	100,520
Collateralized Mortgage Backed Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	4,046,691	4,077,011
Gross Unrealized Gains	17,144	32,726
Gross Unrealized Losses	(84,501)	(23,976)
Investments in available-for-sale securities, at fair value	3,979,334	4,085,761
Available for sale securities, amortized cost	4,046,691	4,077,011
Available for sale securities	$ 3,979,334	$ 4,085,761

Note 2 - Investments - Amorti19

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
After one year through five years, amortized cost	$ 911,496	$ 612,088
After one year through five years, fair value	901,495	617,562
After five years through ten years, amortized cost	1,756,916	1,910,307
After five years through ten years, fair value	1,738,030	1,945,454
More than 10 years, amortized cost	16,299,031	15,740,739
More than 10 years, fair value	16,074,802	16,196,403
Total, amortized cost	23,113,694	22,439,705
Total, fair value	22,790,101	22,945,700
Redeemable Preferred Stock [Member]
Debt securities, amortized cost	99,560	99,560
Debt securities, fair value	96,440	100,520
Collateralized Mortgage Backed Securities [Member]
Debt securities, amortized cost	4,046,691	4,077,011
Debt securities, fair value	$ 3,979,334	$ 4,085,761

Note 2 - Investments - Realized

Note 2 - Investments - Realized Gains and Losses Related to the Sale of Securities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Gross gains		$ 192,405
Gross losses
Net security gains		$ 192,405

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Available-for-sale securities, less than 12 months, fair value	$ 23,427,159	$ 11,863,187
Available-for-sale securities, less than 12 months, unrealized loss	(736,215)	(145,202)
Available-for-sale securities, greater than 12 months, fair value	2,178,084	2,130,737
Available-for-sale securities, greater than 12 months, unrealized loss	(146,375)	(106,988)
Available-for-sale securities, fair value	25,605,242	13,993,924
Available-for-sale securities, unrealized loss	(882,590)	(252,190)
Fixed Maturities [Member]
Available-for-sale securities, less than 12 months, fair value	15,476,330	3,891,747
Available-for-sale securities, less than 12 months, unrealized loss	(509,832)	(39,256)
Available-for-sale securities, greater than 12 months, fair value	934,182	969,616
Available-for-sale securities, greater than 12 months, unrealized loss	(50,815)	(29,031)
Available-for-sale securities, fair value	16,410,512	4,861,363
Available-for-sale securities, unrealized loss	(560,647)	(68,287)
Fixed Maturities [Member] | US Treasury Securities [Member]
Available-for-sale securities, less than 12 months, fair value	264,998	250,750
Available-for-sale securities, less than 12 months, unrealized loss	(7,915)	(20,870)
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	264,998	250,750
Available-for-sale securities, unrealized loss	(7,915)	(20,870)
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	9,742,140	848,853
Available-for-sale securities, less than 12 months, unrealized loss	(387,703)	(5,733)
Available-for-sale securities, greater than 12 months, fair value	118,558	121,718
Available-for-sale securities, greater than 12 months, unrealized loss	(8,055)	(4,987)
Available-for-sale securities, fair value	9,860,698	970,571
Available-for-sale securities, unrealized loss	(395,758)	(10,720)
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	2,877,822	735,257
Available-for-sale securities, less than 12 months, unrealized loss	(55,611)	(5,683)
Available-for-sale securities, greater than 12 months, fair value	186,258	192,962
Available-for-sale securities, greater than 12 months, unrealized loss	(13,742)	(7,038)
Available-for-sale securities, fair value	3,064,080	928,219
Available-for-sale securities, unrealized loss	(69,353)	(12,721)
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	96,440
Available-for-sale securities, less than 12 months, unrealized loss	(3,120)
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	96,440
Available-for-sale securities, unrealized loss	(3,120)
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	2,494,930	2,056,887
Available-for-sale securities, less than 12 months, unrealized loss	(55,483)	(6,970)
Available-for-sale securities, greater than 12 months, fair value	629,366	654,936
Available-for-sale securities, greater than 12 months, unrealized loss	(29,018)	(17,006)
Available-for-sale securities, fair value	3,124,296	2,711,823
Available-for-sale securities, unrealized loss	(84,501)	(23,976)
Equity Securities [Member]
Available-for-sale securities, less than 12 months, fair value	7,950,828	7,971,440
Available-for-sale securities, less than 12 months, unrealized loss	(226,383)	(105,946)
Available-for-sale securities, greater than 12 months, fair value	1,243,902	1,161,121
Available-for-sale securities, greater than 12 months, unrealized loss	(95,560)	(77,957)
Available-for-sale securities, fair value	9,194,730	9,132,561
Available-for-sale securities, unrealized loss	$ (321,943)	$ (183,903)

Note 4 - Fair Value Measureme22

Note 4 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Investments in available-for-sale securities, at fair value	$ 33,594,120	$ 33,609,215
Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	33,594,120	33,609,215
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	11,069,017	10,914,265
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	22,325,103	22,494,950
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value	200,000	200,000
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value		100,520
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value		100,520
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member]
Investments in available-for-sale securities, at fair value	22,790,101	22,945,700
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	22,790,101	22,945,700
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	264,998	250,750
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	22,325,103	22,494,950
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value	200,000	200,000
Fixed Maturities [Member] | US Treasury Securities [Member]
Investments in available-for-sale securities, at fair value	264,998	250,750
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	264,998	250,750
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	264,998	250,750
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Investments in available-for-sale securities, at fair value	12,234,158	12,156,225
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	12,234,158	12,156,225
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	12,034,158	11,956,225
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value	200,000	200,000
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Investments in available-for-sale securities, at fair value	6,215,171	6,352,444
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	6,215,171	6,352,444
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	6,215,171	6,352,444
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Investments in available-for-sale securities, at fair value	96,440	100,520
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	96,440
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	96,440
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Investments in available-for-sale securities, at fair value	3,979,334	4,085,761
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	3,979,334	4,085,761
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	3,979,334	4,085,761
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value
Equity Securities [Member]
Investments in available-for-sale securities, at fair value	10,804,019	10,663,515
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	10,804,019	10,663,515
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	10,804,019	10,663,515
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value

Note 4 - Fair Value Measureme23

Note 4 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Assets and Liabilities (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Reported Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	$ 1,171,351	$ 651,809
Investment income due and accrued	237,932	214,998
Policy loans	32,645	33,975
Investments, at fair value	33,594,120	33,609,215
Total Financial Assets	35,036,048	34,509,997
Financial Liabilities:
Policyholder deposits in deposit-type contracts	14,185,460	13,448,891
Total Financial Liabilities	14,185,460	13,448,891
Estimate of Fair Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	1,171,351	651,809
Investment income due and accrued	237,932	214,998
Policy loans	32,645	33,975
Investments, at fair value	33,594,120	33,609,215
Total Financial Assets	35,036,048	34,509,997
Financial Liabilities:
Policyholder deposits in deposit-type contracts	13,010,977	12,508,470
Total Financial Liabilities	$ 13,010,977	$ 12,508,470

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Expense (Benefit), Total	$ 0	$ 0
Deferred Tax Assets, Valuation Allowance, Percentage	100.00%	100.00%
Operating Loss Carryforwards, Total	$ 12,285,000		$ 11,886,891