US Alliance 10-Q 9 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 02, 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)		7,468,262
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Assets
Available for sale securities	$ 34,420,862	$ 33,609,215
Policy loans	48,932	33,975
Total investments	34,469,794	33,643,190
Cash and cash equivalents	1,867,891	651,809
Investment income due and accrued	243,756	214,998
Reinsurance related assets	181,112	249,879
Deferred acquisition costs, net	2,871,727	2,963,057
Value of business acquired, net	590,449	600,601
Property, equipment and software, net	208,800	221,077
Goodwill	277,542	277,542
Other assets	132,114	166,184
Total assets	40,843,185	38,988,337
Liabilities:
Deposit-type contracts	15,113,995	13,448,891
Policyholder benefit reserves	13,012,475	11,488,979
Advance premiums	28,428	7,507
Total policy liabilities	28,154,898	24,945,377
Accounts payable and accrued expenses	96,027	98,382
Other liabilities	21,259	8,876
Total liabilities	28,272,184	25,052,635
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,453,287 and 7,310,939 shares as of June 30, 2018 and December 31, 2017, respectively	745,330	731,095
Additional paid-in capital	21,985,207	21,280,437
Accumulated deficit	(9,060,854)	(8,481,268)
Accumulated other comprehensive income (loss)	(1,098,682)	405,438
Total shareholders' equity	12,571,001	13,935,702
Total liabilities and shareholders' equity	40,843,185	38,988,337
Fixed Maturities [Member]
Assets
Available for sale securities	23,183,390	22,945,700
Equities, Including Equity Securities and Other Equity Investments [Member]
Assets
Available for sale securities	$ 11,237,472	$ 10,663,515

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Available for sale securities, amortized cost	$ 35,519,521	$ 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)	7,453,287	7,310,939
Common stock, shares outstanding (in shares)	7,453,287	7,310,939
Fixed Maturities [Member]
Available for sale securities, amortized cost	$ 23,987,179	$ 22,439,705
Equities, Including Equity Securities and Other Equity Investments [Member]
Available for sale securities, amortized cost	$ 11,532,342	$ 10,764,072

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income:
Premium income	$ 2,442,384	$ 1,982,642	$ 4,874,480	$ 3,732,570
Net investment income	365,563	170,099	677,123	296,119
Net realized gain (loss) on sale of securities	(327)	16,097	(327)	208,502
Other income	6,748	19,253	15,994	39,455
Total income	2,814,368	2,188,091	5,567,270	4,276,646
Expenses:
Death claims	168,838	181,480	404,212	686,158
Policyholder benefits	1,188,097	1,191,959	2,315,779	2,187,150
Increase in policyholder reserves	710,976	445,127	1,507,612	576,548
Commissions, net of deferrals	167,821	141,143	319,978	265,434
Amortization of deferred acquisition costs	120,259	46,461	210,614	84,225
Amortization of value of business acquired	5,076		10,152
Salaries & benefits	268,492	204,951	543,340	383,143
Other operating expenses	361,637	322,669	835,169	608,435
Total expense	2,991,196	2,533,790	6,146,856	4,791,093
Net loss	$ (176,828)	$ (345,699)	$ (579,586)	$ (514,447)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.02)	$ (0.06)	$ (0.08)	$ (0.09)
Unrealized net holding gains (losses) arising during the period	$ (515,501)	$ 270,394	$ (1,504,447)	$ 468,246
Reclassification adjustment for gains included in net income (loss)	327	(16,097)	327	(208,502)
Other comprehensive income (loss)	(515,174)	254,297	(1,504,120)	259,744
Comprehensive loss	$ (692,002)	$ (91,402)	$ (2,083,706)	$ (254,703)

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)	58,120
Common stock issued, $7 per share	$ 5,812	401,028			406,840
Costs associated with common stock issued		(147,422)			(147,422)
Other comprehensive income			259,744		259,744
Net loss				(514,447)	(514,447)
Balance (in shares) at Jun. 30, 2017	5,624,063
Balance at Jun. 30, 2017	$ 562,407	18,270,769	499,205	(7,946,683)	11,385,698
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)	142,348
Common stock issued, $7 per share	$ 14,235	982,201			996,436
Costs associated with common stock issued		(277,431)			(277,431)
Other comprehensive income			(1,504,120)		(1,504,120)
Net loss				(579,586)	(579,586)
Balance (in shares) at Jun. 30, 2018	7,453,287
Balance at Jun. 30, 2018	$ 745,330	$ 21,985,207	$ (1,098,682)	$ (9,060,854)	$ 12,571,001

Consolidated Statements of Cha6

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2018	Jun. 30, 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 ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash Flows from Operating Activities:
Net loss	$ (579,586)	$ (514,447)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	17,610	17,169
Net realized gains on the sale of securities	327	(208,502)
Amortization of investment securities, net	27,965	16,468
Deferred acquisition costs capitalized	(155,219)	(144,069)
Deferred acquisition costs amortized	210,614	84,225
Value of business acquired amortized	10,152
Interest credited on deposit type contracts	260,441	63,607
(Increase) decrease in operating assets:
Investment income due and accrued	(28,758)	(6,101)
Reinsurance related assets	68,767	(226)
Other assets	34,070	(249,929)
Increase (decrease) in operating liabilities:
Policyowner benefit reserves	1,523,496	797,659
Advance premiums	20,920	66,399
Other liabilities	12,383	(2,320)
Accounts payable and accrued expenses	(2,355)	73,984
Net cash provided by (used in) operating activities	1,420,827	(6,083)
Cash Flows from Investing Activities:
Purchase of fixed income investments	(1,758,337)	(2,100,968)
Purchase of equity investments	(768,944)	(3,124,648)
Proceeds from fixed income sales and repayments	183,226	1,532,509
Proceeds from equity sales and repayments		1,299,640
Interest on policy loans	(1,156)
Increase in policy loans	(13,801)
Purchase of property, equipment and software	(5,334)	(6,000)
Net cash used in investing activities	(2,364,346)	(2,399,467)
Cash Flows from Financing Activities:
Receipts on deposit-type contracts	2,197,360	1,000,563
Withdrawals on deposit-type contracts	(756,764)	(271,319)
Proceeds received from issuance of common stock, net of costs of issuance	719,005	259,418
Net cash provided by financing activities	2,159,601	988,662
Net increase (decrease) in cash and cash equivalents	1,216,082	(1,416,888)
Cash and Cash Equivalents:
Beginning	651,809	3,145,745
Ending	$ 1,867,891	$ 1,728,857

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	6 Months Ended
	Jun. 30, 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, 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 six June 30, 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 June 30, 2018, December 31, 2017, 7,453,287 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 June 30, 2018 2017 7,389,200 5,596,489 six June 30, 2018 2017 7,346,064 5,579,493 six June 30, 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 six June 30, 2018. 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	6 Months Ended
	Jun. 30, 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 June 30, 2018 December 31, 2017 June 30, 2018 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 275,896 $ - $ (7,450 ) $ 268,446 Corporate bonds 13,448,349 31,181 (770,236 ) 12,709,294 Municipal bonds 6,165,877 124,831 (83,643 ) 6,207,065 Redeemable preferred stock 99,560 - (1,800 ) 97,760 Mortgage backed and asset backed securities 3,997,497 9,276 (105,948 ) 3,900,825 Total fixed maturities 23,987,179 165,288 (969,077 ) 23,183,390 Equities: Equities 11,532,342 59,447 (354,317 ) 11,237,472 Total available for sale $ 35,519,521 $ 224,735 $ (1,323,394 ) $ 34,420,862 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 June 30, 2018 December 31, 2017, not not may may As of June 30, 2018 As of December 31, 2017 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: After one year through five years $ 809,137 $ 793,989 $ 612,088 $ 617,562 After five years through ten years 1,757,227 1,714,964 1,910,307 1,945,454 More than 10 years 17,323,758 16,675,852 15,740,739 16,196,403 Redeemable preferred stocks 99,560 97,760 99,560 100,520 Mortgage backed and asset backed securities 3,997,497 3,900,825 4,077,011 4,085,761 $ 23,987,179 $ 23,183,390 $ 22,439,705 $ 22,945,700 Proceeds from the sale of securities, maturities, and asset paydowns for the first six 2018 2017 $183,226 $2,832,149 Six Months Ended June 30, (unaudited) 2018 2017 Gross gains $ 530 $ 227,463 Gross losses (857 ) (18,961 ) Net security gains (losses) $ (327 ) $ 208,502 Proceeds from the sale of securities, maturities, and asset paydowns for the three June 30, 2018 2017 $155,100 $2,677,453 Three Months Ended June 30, (unaudited) 2018 2017 Gross gains $ 530 $ 35,058 Gross losses (857 ) (18,961 ) Net security gains (losses) $ (327 ) $ 16,097 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 June 30, 2018 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 268,446 $ (7,450 ) $ - $ - $ 268,446 $ (7,450 ) Corporate bonds 10,910,971 (761,131 ) 117,414 (9,105 ) 11,028,385 (770,236 ) Municipal bonds 2,773,408 (68,959 ) 185,316 (14,684 ) 2,958,724 (83,643 ) Redeemable preferred stock 97,760 (1,800 ) - - 97,760 (1,800 ) Mortgage backed and asset backed securities 2,714,113 (74,887 ) 595,949 (31,061 ) 3,310,062 (105,948 ) Total fixed maturities 16,764,698 (914,227 ) 898,679 (54,850 ) 17,663,377 (969,077 ) Equities: Equities 8,721,253 (250,840 ) 1,382,838 (103,477 ) 10,104,091 (354,317 ) Total available for sale $ 25,485,951 $ (1,165,067 ) $ 2,281,517 $ (158,327 ) $ 27,767,468 $ (1,323,394 ) 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 that may The total number of securities in the investment portfolio in an unrealized loss position as of June 30, 2018 128, $1,323,394 128 87 31 4 2 2 1 1 no June 30, 2018 December 31, 2017.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 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 June 30, 2018 December 31, 2017: June 30, 2018 Total Level 1 Level 2 Level 3 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 268,446 $ 268,446 $ - $ - Corporate bonds 12,709,294 - 12,509,294 200,000 Municipal bonds 6,207,065 - 6,207,065 - Redeemable preferred stock 97,760 - 97,760 - Mortgage backed and asset backed securities 3,900,825 - 3,900,825 - Total fixed maturities 23,183,390 268,446 22,714,944 200,000 Equities: Equities 11,237,472 11,237,472 - - Total $ 34,420,862 $ 11,505,918 $ 22,714,944 $ 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 June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 (unaudited) Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and cash equivalents $ 1,867,891 $ 1,867,891 $ 651,809 $ 651,809 Investment income due and accrued 243,756 243,756 214,998 214,998 Investments, at fair value 34,469,794 34,469,794 33,643,190 33,643,190 Total Financial Assets $ 36,630,373 $ 36,630,373 $ 34,509,997 $ 34,509,997 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 15,113,995 $ 13,617,789 $ 13,448,891 $ 12,508,470 Total Financial Liabilities $ 15,113,995 $ 13,617,789 $ 13,448,891 $ 12,508,470

Note 5 - Income Tax Provision

Note 5 - Income Tax Provision	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5 . Income Tax Provision No June 30, 2018 2017 100% The net operating loss carryforwards for the Company are $12,053,644 $11,886,891 June 30, 2018 December 31, 2017, 100

Note 6 - Subsequent Events

Note 6 - Subsequent Events	6 Months Ended
	Jun. 30, 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 August 9, 2018,

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 six June 30, 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 June 30, 2018, December 31, 2017, 7,453,287 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 June 30, 2018 2017 7,389,200 5,596,489 six June 30, 2018 2017 7,346,064 5,579,493 six June 30, 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 six June 30, 2018. 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)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Available-for-sale Securities [Table Text Block]	June 30, 2018 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 275,896 $ - $ (7,450 ) $ 268,446 Corporate bonds 13,448,349 31,181 (770,236 ) 12,709,294 Municipal bonds 6,165,877 124,831 (83,643 ) 6,207,065 Redeemable preferred stock 99,560 - (1,800 ) 97,760 Mortgage backed and asset backed securities 3,997,497 9,276 (105,948 ) 3,900,825 Total fixed maturities 23,987,179 165,288 (969,077 ) 23,183,390 Equities: Equities 11,532,342 59,447 (354,317 ) 11,237,472 Total available for sale $ 35,519,521 $ 224,735 $ (1,323,394 ) $ 34,420,862 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 June 30, 2018 As of December 31, 2017 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: After one year through five years $ 809,137 $ 793,989 $ 612,088 $ 617,562 After five years through ten years 1,757,227 1,714,964 1,910,307 1,945,454 More than 10 years 17,323,758 16,675,852 15,740,739 16,196,403 Redeemable preferred stocks 99,560 97,760 99,560 100,520 Mortgage backed and asset backed securities 3,997,497 3,900,825 4,077,011 4,085,761 $ 23,987,179 $ 23,183,390 $ 22,439,705 $ 22,945,700
Realized Gain (Loss) on Investments [Table Text Block]	Six Months Ended June 30, (unaudited) 2018 2017 Gross gains $ 530 $ 227,463 Gross losses (857 ) (18,961 ) Net security gains (losses) $ (327 ) $ 208,502 Three Months Ended June 30, (unaudited) 2018 2017 Gross gains $ 530 $ 35,058 Gross losses (857 ) (18,961 ) Net security gains (losses) $ (327 ) $ 16,097
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 June 30, 2018 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 268,446 $ (7,450 ) $ - $ - $ 268,446 $ (7,450 ) Corporate bonds 10,910,971 (761,131 ) 117,414 (9,105 ) 11,028,385 (770,236 ) Municipal bonds 2,773,408 (68,959 ) 185,316 (14,684 ) 2,958,724 (83,643 ) Redeemable preferred stock 97,760 (1,800 ) - - 97,760 (1,800 ) Mortgage backed and asset backed securities 2,714,113 (74,887 ) 595,949 (31,061 ) 3,310,062 (105,948 ) Total fixed maturities 16,764,698 (914,227 ) 898,679 (54,850 ) 17,663,377 (969,077 ) Equities: Equities 8,721,253 (250,840 ) 1,382,838 (103,477 ) 10,104,091 (354,317 ) Total available for sale $ 25,485,951 $ (1,165,067 ) $ 2,281,517 $ (158,327 ) $ 27,767,468 $ (1,323,394 ) 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)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	June 30, 2018 Total Level 1 Level 2 Level 3 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 268,446 $ 268,446 $ - $ - Corporate bonds 12,709,294 - 12,509,294 200,000 Municipal bonds 6,207,065 - 6,207,065 - Redeemable preferred stock 97,760 - 97,760 - Mortgage backed and asset backed securities 3,900,825 - 3,900,825 - Total fixed maturities 23,183,390 268,446 22,714,944 200,000 Equities: Equities 11,237,472 11,237,472 - - Total $ 34,420,862 $ 11,505,918 $ 22,714,944 $ 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]	June 30, 2018 December 31, 2017 (unaudited) Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and cash equivalents $ 1,867,891 $ 1,867,891 $ 651,809 $ 651,809 Investment income due and accrued 243,756 243,756 214,998 214,998 Investments, at fair value 34,469,794 34,469,794 33,643,190 33,643,190 Total Financial Assets $ 36,630,373 $ 36,630,373 $ 34,509,997 $ 34,509,997 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 15,113,995 $ 13,617,789 $ 13,448,891 $ 12,508,470 Total Financial Liabilities $ 15,113,995 $ 13,617,789 $ 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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Common Stock, Par or Stated Value Per Share	$ 0.10		$ 0.10		$ 0.10
Common Stock, Shares Authorized	20,000,000		20,000,000		20,000,000
Common Stock, Shares, Issued, Total	7,453,287		7,453,287		7,310,939
Weighted Average Number of Shares Outstanding, Basic and Diluted	7,389,200	5,596,489	7,346,064	5,579,493
Common Stock, Shares, Outstanding, Ending Balance	7,453,287		7,453,287		7,310,939

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Proceeds from Sale, Maturity and Collection of Investments, Total	$ 155,100	$ 2,677,453	$ 183,226	$ 2,832,149
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	128		128
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax, Total	$ 1,323,394		$ 1,323,394		$ 252,190
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total			$ 0		$ 0
Fixed Income Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	87		87
Collateralized Mortgage Backed Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	31		31
Preferred Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	4		4
Corporate Debt Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	2		2
Preferred Stock Index Fund [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	2		2
Senior Loan Fund [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1		1
Common Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1		1

Note 2 - Investments - Amortize

Note 2 - Investments - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Investments (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Cost or Amortized Cost	$ 35,519,521	$ 33,203,777
Gross Unrealized Gains	224,735	657,628
Gross Unrealized Losses	(1,323,394)	(252,190)
Investments in available-for-sale securities, at fair value	34,420,862	33,609,215
Fixed Maturities [Member]
Cost or Amortized Cost	23,987,179	22,439,705
Gross Unrealized Gains	165,288	574,282
Gross Unrealized Losses	(969,077)	(68,287)
Investments in available-for-sale securities, at fair value	23,183,390	22,945,700
Equity Securities [Member]
Cost or Amortized Cost	11,532,342	10,764,072
Gross Unrealized Gains	59,447	83,346
Gross Unrealized Losses	(354,317)	(183,903)
Investments in available-for-sale securities, at fair value	11,237,472	10,663,515
US Treasury Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	275,896	271,620
Gross Unrealized Gains
Gross Unrealized Losses	(7,450)	(20,870)
Investments in available-for-sale securities, at fair value	268,446	250,750
Corporate Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	13,448,349	11,857,191
Gross Unrealized Gains	31,181	309,754
Gross Unrealized Losses	(770,236)	(10,720)
Investments in available-for-sale securities, at fair value	12,709,294	12,156,225
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	6,165,877	6,134,323
Gross Unrealized Gains	124,831	230,842
Gross Unrealized Losses	(83,643)	(12,721)
Investments in available-for-sale securities, at fair value	6,207,065	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	(1,800)
Investments in available-for-sale securities, at fair value	97,760	100,520
Collateralized Mortgage Backed Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	3,997,497	4,077,011
Gross Unrealized Gains	9,276	32,726
Gross Unrealized Losses	(105,948)	(23,976)
Investments in available-for-sale securities, at fair value	$ 3,900,825	$ 4,085,761

Note 2 - Investments - Amorti19

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
After one year through five years, amortized cost	$ 809,137	$ 612,088
After one year through five years, fair value	793,989	617,562
After five years through ten years, amortized cost	1,757,227	1,910,307
After five years through ten years, fair value	1,714,964	1,945,454
More than 10 years, amortized cost	17,323,758	15,740,739
More than 10 years, fair value	16,675,852	16,196,403
Total, amortized cost	23,987,179	22,439,705
Total, fair value	23,183,390	22,945,700
Redeemable Preferred Stock [Member]
Debt securities, amortized cost	99,560	99,560
Debt securities, fair value	97,760	100,520
Collateralized Mortgage Backed Securities [Member]
Debt securities, amortized cost	3,997,497	4,077,011
Debt securities, fair value	$ 3,900,825	$ 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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Gross gains	$ 530	$ 35,058	$ 530	$ 227,463
Gross losses	(857)	(18,961)	(857)	(18,961)
Net security gains (losses)	$ (327)	$ 16,097	$ (327)	$ 208,502

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Available-for-sale securities, less than 12 months, fair value	$ 25,485,951	$ 11,863,187
Available-for-sale securities, less than 12 months, unrealized loss	(1,165,067)	(145,202)
Available-for-sale securities, greater than 12 months, fair value	2,281,517	2,130,737
Available-for-sale securities, greater than 12 months, unrealized loss	(158,327)	(106,988)
Available-for-sale securities, fair value	27,767,468	13,993,924
Available-for-sale securities, unrealized loss	(1,323,394)	(252,190)
Fixed Maturities [Member]
Available-for-sale securities, less than 12 months, fair value	16,764,698	3,891,747
Available-for-sale securities, less than 12 months, unrealized loss	(914,227)	(39,256)
Available-for-sale securities, greater than 12 months, fair value	898,679	969,616
Available-for-sale securities, greater than 12 months, unrealized loss	(54,850)	(29,031)
Available-for-sale securities, fair value	17,663,377	4,861,363
Available-for-sale securities, unrealized loss	(969,077)	(68,287)
Fixed Maturities [Member] | US Treasury Securities [Member]
Available-for-sale securities, less than 12 months, fair value	268,446	250,750
Available-for-sale securities, less than 12 months, unrealized loss	(7,450)	(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	268,446	250,750
Available-for-sale securities, unrealized loss	(7,450)	(20,870)
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	10,910,971	848,853
Available-for-sale securities, less than 12 months, unrealized loss	(761,131)	(5,733)
Available-for-sale securities, greater than 12 months, fair value	117,414	121,718
Available-for-sale securities, greater than 12 months, unrealized loss	(9,105)	(4,987)
Available-for-sale securities, fair value	11,028,385	970,571
Available-for-sale securities, unrealized loss	(770,236)	(10,720)
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	2,773,408	735,257
Available-for-sale securities, less than 12 months, unrealized loss	(68,959)	(5,683)
Available-for-sale securities, greater than 12 months, fair value	185,316	192,962
Available-for-sale securities, greater than 12 months, unrealized loss	(14,684)	(7,038)
Available-for-sale securities, fair value	2,958,724	928,219
Available-for-sale securities, unrealized loss	(83,643)	(12,721)
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	97,760
Available-for-sale securities, less than 12 months, unrealized loss	(1,800)
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	97,760
Available-for-sale securities, unrealized loss	(1,800)
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	2,714,113	2,056,887
Available-for-sale securities, less than 12 months, unrealized loss	(74,887)	(6,970)
Available-for-sale securities, greater than 12 months, fair value	595,949	654,936
Available-for-sale securities, greater than 12 months, unrealized loss	(31,061)	(17,006)
Available-for-sale securities, fair value	3,310,062	2,711,823
Available-for-sale securities, unrealized loss	(105,948)	(23,976)
Equity Securities [Member]
Available-for-sale securities, less than 12 months, fair value	8,721,253	7,971,440
Available-for-sale securities, less than 12 months, unrealized loss	(250,840)	(105,946)
Available-for-sale securities, greater than 12 months, fair value	1,382,838	1,161,121
Available-for-sale securities, greater than 12 months, unrealized loss	(103,477)	(77,957)
Available-for-sale securities, fair value	10,104,091	9,132,561
Available-for-sale securities, unrealized loss	$ (354,317)	$ (183,903)

Note 4 - Fair Value Measureme22

Note 4 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Investments in available-for-sale securities, at fair value	$ 34,420,862	$ 33,609,215
Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	34,420,862	33,609,215
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	11,505,918	10,914,265
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	22,714,944	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	23,183,390	22,945,700
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	23,183,390	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	268,446	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	22,714,944	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	268,446	250,750
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	268,446	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	268,446	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	12,709,294	12,156,225
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	12,709,294	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	12,509,294	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	6,207,065	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	6,207,065	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	6,207,065	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	97,760	100,520
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	97,760
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	97,760
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	3,900,825	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	3,900,825	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	3,900,825	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	11,237,472	10,663,515
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	11,237,472	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	11,237,472	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 ($)	Jun. 30, 2018	Dec. 31, 2017
Reported Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	$ 1,867,891	$ 651,809
Investment income due and accrued	243,756	214,998
Investments, at fair value	34,469,794	33,643,190
Total Financial Assets	36,630,373	34,509,997
Financial Liabilities:
Policyholder deposits in deposit-type contracts	15,113,995	13,448,891
Total Financial Liabilities	15,113,995	13,448,891
Estimate of Fair Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	1,867,891	651,809
Investment income due and accrued	243,756	214,998
Investments, at fair value	34,469,794	33,643,190
Total Financial Assets	36,630,373	34,509,997
Financial Liabilities:
Policyholder deposits in deposit-type contracts	13,617,789	12,508,470
Total Financial Liabilities	$ 13,617,789	$ 12,508,470

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 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	$ 12,053,644		$ 11,886,891