US Alliance 10-Q 9 Nov 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 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	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		7,609,423
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Ex Transition Period	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Assets
Available for sale securities	$ 35,657,361	$ 33,609,215
Policy loans	42,436	33,975
Total investments	35,699,797	33,643,190
Cash and cash equivalents	1,981,829	651,809
Investment income due and accrued	265,766	214,998
Reinsurance related assets	168,926	249,879
Deferred acquisition costs, net	2,829,688	2,963,057
Value of business acquired, net	585,373	600,601
Property, equipment and software, net	199,804	221,077
Goodwill	277,542	277,542
Other assets	100,611	166,184
Total assets	42,109,336	38,988,337
Liabilities:
Deposit-type contracts	15,637,161	13,448,891
Policyholder benefit reserves	13,629,608	11,488,979
Advance premiums	44,933	7,507
Total policy liabilities	29,311,702	24,945,377
Accounts payable and accrued expenses	89,351	98,382
Other liabilities	188,807	8,876
Total liabilities	29,589,860	25,052,635
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,515,492 and 7,310,939 shares as of September 30, 2018 and December 31, 2017, respectively	751,550	731,095
Additional paid-in capital	22,274,765	21,280,437
Accumulated deficit	(9,264,741)	(8,481,268)
Accumulated other comprehensive income	(1,242,098)	405,438
Total shareholders' equity	12,519,476	13,935,702
Total liabilities and shareholders' equity	42,109,336	38,988,337
Fixed Maturities [Member]
Assets
Available for sale securities	24,135,704	22,945,700
Equities, Including Equity Securities and Other Equity Investments [Member]
Assets
Available for sale securities	$ 11,521,657	$ 10,663,515

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Available for sale securities, amortized cost	$ 36,899,459	$ 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)	7,515,492	7,310,939
Common stock, shares outstanding (in shares)	7,515,492	7,310,939
Fixed Maturities [Member]
Available for sale securities, amortized cost	$ 25,080,788	$ 22,439,705
Equities, Including Equity Securities and Other Equity Investments [Member]
Available for sale securities, amortized cost	$ 11,818,671	$ 10,764,072

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income:
Premium income	$ 1,776,623	$ 5,169,638	$ 6,651,103	$ 8,902,208
Net investment income	370,207	189,028	1,047,330	485,147
Net realized gain (loss) on sale of securities		226,890	(327)	435,392
Other income	11,654	1,201	27,648	40,656
Total income	2,158,484	5,586,757	7,725,754	9,863,403
Expenses:
Death claims	228,994	152,234	633,206	624,864
Policyholder benefits	740,579	479,965	3,056,358	2,609,324
Increase in policyholder reserves	604,647	4,357,257	2,112,259	5,205,124
Commissions, net of deferrals	120,413	97,151	440,391	362,585
Amortization of deferred acquisition costs	103,246	52,484	313,860	136,709
Amortization of value of business acquired	5,076	3,384	15,228	3,384
Salaries & benefits	238,612	244,143	781,952	627,286
Other operating expenses	320,804	278,795	1,155,973	887,230
Total expense	2,362,371	5,665,413	8,509,227	10,456,506
Net loss	$ (203,887)	$ (78,656)	$ (783,473)	$ (593,103)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.03)	$ (0.01)	$ (0.11)	$ (0.10)
Unrealized net holding gains (losses) arising during the period	$ (143,416)	$ 19,839	$ (1,647,863)	$ 488,085
Reclassification adjustment for (gains) losses included in net loss		(226,890)	327	(435,392)
Other comprehensive income (loss)	(143,416)	(207,051)	(1,647,536)	52,693
Comprehensive loss	$ (347,303)	$ (285,707)	$ (2,431,009)	$ (540,410)

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)	85,950
Common stock issued, $7 per share	$ 8,595	593,055			601,650
Costs associated with common stock issued		(223,394)			(223,394)
Common Stock issued, Northern Plains Capital Corporation merger	$ 164,446	2,932,934			3,097,380
Other comprehensive income			52,693		52,693
Net loss				(593,103)	(593,103)
Balance (in shares) at Sep. 30, 2017	7,296,351
Balance at Sep. 30, 2017	$ 729,636	21,319,758	292,154	(8,025,339)	14,316,209
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)	204,553
Common stock issued, $7 per share	$ 20,455	1,411,416			1,431,871
Costs associated with common stock issued		(417,088)			(417,088)
Other comprehensive income			(1,647,536)		(1,647,536)
Net loss				(783,473)	(783,473)
Balance (in shares) at Sep. 30, 2018	7,515,492
Balance at Sep. 30, 2018	$ 751,550	$ 22,274,765	$ (1,242,098)	$ (9,264,741)	$ 12,519,476

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2018	Sep. 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 ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash Flows from Operating Activities:
Net loss	$ (783,473)	$ (593,103)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	26,606	26,031
Net realized (gains) losses on the sale of securities	327	(435,392)
Amortization of investment securities, net	42,394	27,429
Deferred acquisition costs capitalized	(216,426)	(204,620)
Deferred acquisition costs amortized	313,860	136,709
Value of business acquired amortized	15,228	3,384
Interest credited on deposit type contracts	409,794	110,097
(Increase) decrease in operating assets:
Investment income due and accrued	(50,768)	9,315
Reinsurance related assets	80,953	(8,294)
Other assets	65,573	(132,357)
Increase (decrease) in operating liabilities:
Policyowner benefit reserves	2,140,629	1,284,750
Advance premiums	37,426	92,016
Other liabilities	5,929	3,600
Accounts payable and accrued expenses	(9,031)	(32,519)
Net cash provided by operating activities	2,079,021	287,046
Cash Flows from Investing Activities:
Purchase of fixed income investments	(2,756,884)	(4,629,966)
Purchase of equity investments	(1,055,592)	(4,669,164)
Proceeds from fixed income sales and repayments	248,077	3,081,710
Proceeds from equity sales and repayments		4,439,235
Interest on policy loans	(1,842)
Increase in policy loans	(6,619)
Acquisition of Northern Plains Capital Corporation		1,079,627
Assumed reinsurance from American Life & Security Corporation		6,895,145
Purchase of property, equipment and software	(5,334)	(11,121)
Net cash provided by (used in) investing activities	(3,578,194)	6,185,466
Cash Flows from Financing Activities:
Receipts on deposit-type contracts	2,969,466	1,368,680
Withdrawals on deposit-type contracts	(1,155,056)	(350,116)
Proceeds received from issuance of common stock, net of costs of issuance	1,014,783	378,256
Net cash provided by financing activities	2,829,193	1,396,820
Net increase in cash and cash equivalents	1,330,020	7,869,332
Cash and Cash Equivalents:
Beginning	651,809	3,145,745
Ending	1,981,829	11,015,077
Supplemental Disclosure of Non-Cash Information
Common stock issued on the acquisition of Northern Plains		3,097,380
Cost of reinsurance deferred on coinsurance transaction with American Life & Security Corp		2,861,450
Policyholder Contract Deposits [Member] | American Life & Security Corp [Member]
Supplemental Disclosure of Non-Cash Information
Deposit-type contract liabilities assumed		6,193,587
Northern Plains [Member] | Policyholder Contract Deposits [Member]
Supplemental Disclosure of Non-Cash Information
Deposit-type contract liabilities assumed		2,029,138
Fixed Maturities [Member] | Northern Plains [Member]
Supplemental Disclosure of Non-Cash Information
Securities acquired		3,006,552
Equity Securities [Member] | Northern Plains [Member]
Supplemental Disclosure of Non-Cash Information
Securities acquired		$ 1,616,897

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	9 Months Ended
	Sep. 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, On 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. August 1, 2017, Basis of presentation 10 10 X. not The results of operation for the three nine September 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 September 30, 2018, December 31, 2017, 7,515,492 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 September 30, 2018 2017 7,474,022 6,181,492 nine September 30, 2018 2017 7,368,451 5,698,514 nine September 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 nine September 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 Intangibles – Goodwill and Other - Simplifying the Test for Goodwill Impairment In January 2017, no December 15, 2019, January 1, 2017. not Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, 2018 12 2018 12 not 2018 12 December 15, 2020, 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	9 Months Ended
	Sep. 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 September 30, 2018 December 31, 2017 September 30, 2018 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: (unaudited) Fixed maturities: US Treasury securities $ 277,558 $ - $ (26,952 ) $ 250,606 Corporate bonds 14,210,555 40,570 (737,343 ) 13,513,782 Municipal bonds 6,563,729 76,687 (173,557 ) 6,466,859 Redeemable preferred stock 99,560 - (5,560 ) 94,000 Mortgage backed and asset backed securities 3,929,386 8,899 (127,828 ) 3,810,457 Total fixed maturities 25,080,788 126,156 (1,071,240 ) 24,135,704 Equities: Equities 11,818,671 69,437 (366,451 ) 11,521,657 Total available for sale $ 36,899,459 $ 195,593 $ (1,437,691 ) $ 35,657,361 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 September 30, 2018 December 31, 2017, not not may may As of September 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 $ 858,351 $ 847,014 $ 612,088 $ 617,562 After five years through ten years 1,804,441 1,753,743 1,910,307 1,945,454 More than 10 years 18,389,050 17,630,490 15,740,739 16,196,403 Redeemable preferred stocks 99,560 94,000 99,560 100,520 Mortgage backed and asset backed securities 3,929,386 3,810,457 4,077,011 4,085,761 $ 25,080,788 $ 24,135,704 $ 22,439,705 $ 22,945,700 Proceeds from the sale of securities, maturities, and asset paydowns for the first nine 2018 2017 $248,077 $7,520,945 Nine Months Ended September 30, (unaudited) 2018 2017 Gross gains $ 530 $ 486,523 Gross losses (857 ) (51,131 ) Net security gains (losses) $ (327 ) $ 435,392 Proceeds from the sale of securities, maturities, and asset paydowns for the three September 30, 2018 2017 $64,851 $4,688,796 Three Months Ended September 30, (unaudited) 2018 2017 Gross gains $ - $ 259,061 Gross losses - (32,171 ) Net security gains $ - $ 226,890 Gross unrealized losses by duration are summarized as follows: Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss September 30, 2018 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 250,606 $ (26,952 ) $ - $ - $ 250,606 $ (26,952 ) Corporate bonds 11,573,963 (716,537 ) 217,784 (20,806 ) 11,791,747 (737,343 ) Municipal bonds 3,649,017 (149,490 ) 328,873 (24,067 ) 3,977,890 (173,557 ) Redeemable preferred stock 94,000 (5,560 ) - - 94,000 (5,560 ) Mortgage backed and asset backed securities 2,406,729 (75,309 ) 966,887 (52,519 ) 3,373,616 (127,828 ) Total fixed maturities 17,974,315 (973,848 ) 1,513,544 (97,392 ) 19,487,859 (1,071,240 ) Equities: Equities 7,378,410 (219,272 ) 2,380,223 (147,179 ) 9,758,633 (366,451 ) Total available for sale $ 25,352,725 $ (1,193,120 ) $ 3,893,767 $ (244,571 ) $ 29,246,492 $ (1,437,691 ) 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 September 30, 2018 143, $1,437,691 143 100 33 4 2 2 1 1 no September 30, 2018 December 31, 2017.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Sep. 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 September 30, 2018 December 31, 2017: September 30, 2018 Total Level 1 Level 2 Level 3 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 250,606 $ 250,606 $ - $ - Corporate bonds 13,513,782 - 13,313,782 200,000 Municipal bonds 6,466,859 - 6,466,859 - Redeemable preferred stock 94,000 - 94,000 - Mortgage backed and asset backed securities 3,810,457 - 3,810,457 - Total fixed maturities 24,135,704 250,606 23,685,098 200,000 Equities: Equities 11,521,657 11,521,657 - - Total $ 35,657,361 $ 11,772,263 $ 23,685,098 $ 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 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 (unaudited) Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and cash equivalents $ 1,981,829 $ 1,981,829 $ 651,809 $ 651,809 Investment income due and accrued 265,766 265,766 214,998 214,998 Investments, at fair value 35,699,797 35,699,797 33,643,190 33,643,190 Total Financial Assets $ 37,947,392 $ 37,947,392 $ 34,509,997 $ 34,509,997 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 15,637,161 $ 13,745,313 $ 13,448,891 $ 12,508,470 Total Financial Liabilities $ 15,637,161 $ 13,745,313 $ 13,448,891 $ 12,508,470

Note 5 - Income Tax Provision

Note 5 - Income Tax Provision	9 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5 . Income Tax Provision No September 30, 2018 2017 100% The net operating loss carryforwards for the Company are $12,161,905 $11,886,891 September 30, 2018 December 31, 2017, 100

Note 6 - Subsequent Events

Note 6 - Subsequent Events	9 Months Ended
	Sep. 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 On October 11, 2018 not 1974. $2.2 $1.7 $500,000 The Company has evaluated subsequent events through November 9, 2018,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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 nine September 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 September 30, 2018, December 31, 2017, 7,515,492 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 September 30, 2018 2017 7,474,022 6,181,492 nine September 30, 2018 2017 7,368,451 5,698,514 nine September 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 nine September 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 Intangibles – Goodwill and Other - Simplifying the Test for Goodwill Impairment In January 2017, no December 15, 2019, January 1, 2017. not Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, 2018 12 2018 12 not 2018 12 December 15, 2020, 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)	9 Months Ended
	Sep. 30, 2018
Notes Tables
Available-for-sale Securities [Table Text Block]	September 30, 2018 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: (unaudited) Fixed maturities: US Treasury securities $ 277,558 $ - $ (26,952 ) $ 250,606 Corporate bonds 14,210,555 40,570 (737,343 ) 13,513,782 Municipal bonds 6,563,729 76,687 (173,557 ) 6,466,859 Redeemable preferred stock 99,560 - (5,560 ) 94,000 Mortgage backed and asset backed securities 3,929,386 8,899 (127,828 ) 3,810,457 Total fixed maturities 25,080,788 126,156 (1,071,240 ) 24,135,704 Equities: Equities 11,818,671 69,437 (366,451 ) 11,521,657 Total available for sale $ 36,899,459 $ 195,593 $ (1,437,691 ) $ 35,657,361 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 September 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 $ 858,351 $ 847,014 $ 612,088 $ 617,562 After five years through ten years 1,804,441 1,753,743 1,910,307 1,945,454 More than 10 years 18,389,050 17,630,490 15,740,739 16,196,403 Redeemable preferred stocks 99,560 94,000 99,560 100,520 Mortgage backed and asset backed securities 3,929,386 3,810,457 4,077,011 4,085,761 $ 25,080,788 $ 24,135,704 $ 22,439,705 $ 22,945,700
Realized Gain (Loss) on Investments [Table Text Block]	Nine Months Ended September 30, (unaudited) 2018 2017 Gross gains $ 530 $ 486,523 Gross losses (857 ) (51,131 ) Net security gains (losses) $ (327 ) $ 435,392 Three Months Ended September 30, (unaudited) 2018 2017 Gross gains $ - $ 259,061 Gross losses - (32,171 ) Net security gains $ - $ 226,890
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]	Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss September 30, 2018 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 250,606 $ (26,952 ) $ - $ - $ 250,606 $ (26,952 ) Corporate bonds 11,573,963 (716,537 ) 217,784 (20,806 ) 11,791,747 (737,343 ) Municipal bonds 3,649,017 (149,490 ) 328,873 (24,067 ) 3,977,890 (173,557 ) Redeemable preferred stock 94,000 (5,560 ) - - 94,000 (5,560 ) Mortgage backed and asset backed securities 2,406,729 (75,309 ) 966,887 (52,519 ) 3,373,616 (127,828 ) Total fixed maturities 17,974,315 (973,848 ) 1,513,544 (97,392 ) 19,487,859 (1,071,240 ) Equities: Equities 7,378,410 (219,272 ) 2,380,223 (147,179 ) 9,758,633 (366,451 ) Total available for sale $ 25,352,725 $ (1,193,120 ) $ 3,893,767 $ (244,571 ) $ 29,246,492 $ (1,437,691 ) 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 Measureme_2

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2018
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2018 Total Level 1 Level 2 Level 3 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 250,606 $ 250,606 $ - $ - Corporate bonds 13,513,782 - 13,313,782 200,000 Municipal bonds 6,466,859 - 6,466,859 - Redeemable preferred stock 94,000 - 94,000 - Mortgage backed and asset backed securities 3,810,457 - 3,810,457 - Total fixed maturities 24,135,704 250,606 23,685,098 200,000 Equities: Equities 11,521,657 11,521,657 - - Total $ 35,657,361 $ 11,772,263 $ 23,685,098 $ 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]	September 30, 2018 December 31, 2017 (unaudited) Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and cash equivalents $ 1,981,829 $ 1,981,829 $ 651,809 $ 651,809 Investment income due and accrued 265,766 265,766 214,998 214,998 Investments, at fair value 35,699,797 35,699,797 33,643,190 33,643,190 Total Financial Assets $ 37,947,392 $ 37,947,392 $ 34,509,997 $ 34,509,997 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 15,637,161 $ 13,745,313 $ 13,448,891 $ 12,508,470 Total Financial Liabilities $ 15,637,161 $ 13,745,313 $ 13,448,891 $ 12,508,470

Note 1 - Description of Busin_2

Note 1 - Description of Business and Significant Accounting Policies (Details Textual) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 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	7,515,492		7,515,492		7,310,939
Weighted Average Number of Shares Outstanding, Basic and Diluted	7,474,022	6,181,492	7,368,451	5,698,514
Common Stock, Shares, Outstanding, Ending Balance	7,515,492		7,515,492		7,310,939

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Proceeds from Sale, Maturity and Collection of Investments, Total	$ 64,851	$ 4,688,796	$ 248,077	$ 7,520,945
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	143		143
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax, Total	$ 1,437,691		$ 1,437,691		$ 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	100		100
Collateralized Mortgage Backed Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	33		33
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 ($)	Sep. 30, 2018	Dec. 31, 2017
Cost or Amortized Cost	$ 36,899,459	$ 33,203,777
Gross Unrealized Gains	195,593	657,628
Gross Unrealized Losses	(1,437,691)	(252,190)
Investments in available-for-sale securities, at fair value	35,657,361	33,609,215
Fixed Maturities [Member]
Cost or Amortized Cost	25,080,788	22,439,705
Gross Unrealized Gains	126,156	574,282
Gross Unrealized Losses	(1,071,240)	(68,287)
Investments in available-for-sale securities, at fair value	24,135,704	22,945,700
Equity Securities [Member]
Cost or Amortized Cost	11,818,671	10,764,072
Gross Unrealized Gains	69,437	83,346
Gross Unrealized Losses	(366,451)	(183,903)
Investments in available-for-sale securities, at fair value	11,521,657	10,663,515
US Treasury Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	277,558	271,620
Gross Unrealized Gains
Gross Unrealized Losses	(26,952)	(20,870)
Investments in available-for-sale securities, at fair value	250,606	250,750
Corporate Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	14,210,555	11,857,191
Gross Unrealized Gains	40,570	309,754
Gross Unrealized Losses	(737,343)	(10,720)
Investments in available-for-sale securities, at fair value	13,513,782	12,156,225
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	6,563,729	6,134,323
Gross Unrealized Gains	76,687	230,842
Gross Unrealized Losses	(173,557)	(12,721)
Investments in available-for-sale securities, at fair value	6,466,859	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	(5,560)
Investments in available-for-sale securities, at fair value	94,000	100,520
Collateralized Mortgage Backed Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	3,929,386	4,077,011
Gross Unrealized Gains	8,899	32,726
Gross Unrealized Losses	(127,828)	(23,976)
Investments in available-for-sale securities, at fair value	$ 3,810,457	$ 4,085,761

Note 2 - Investments - Amorti_2

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
After one year through five years, amortized cost	$ 858,351	$ 612,088
After one year through five years, fair value	847,014	617,562
After five years through ten years, amortized cost	1,804,441	1,910,307
After five years through ten years, fair value	1,753,743	1,945,454
More than 10 years, amortized cost	18,389,050	15,740,739
More than 10 years, fair value	17,630,490	16,196,403
Total, amortized cost	25,080,788	22,439,705
Total, fair value	24,135,704	22,945,700
Redeemable Preferred Stock [Member]
Debt securities, amortized cost	99,560	99,560
Debt securities, fair value	94,000	100,520
Collateralized Mortgage Backed Securities [Member]
Debt securities, amortized cost	3,929,386	4,077,011
Debt securities, fair value	$ 3,810,457	$ 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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Gross gains		$ 259,061	$ 530	$ 486,523
Gross losses		(32,171)	(857)	(51,131)
Net security gains (losses)		$ 226,890	$ (327)	$ 435,392

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Available-for-sale securities, less than 12 months, fair value	$ 25,352,725	$ 11,863,187
Available-for-sale securities, less than 12 months, unrealized loss	(1,193,120)	(145,202)
Available-for-sale securities, greater than 12 months, fair value	3,893,767	2,130,737
Available-for-sale securities, greater than 12 months, unrealized loss	(244,571)	(106,988)
Available-for-sale securities, fair value	29,246,492	13,993,924
Available-for-sale securities, unrealized loss	(1,437,691)	(252,190)
Fixed Maturities [Member]
Available-for-sale securities, less than 12 months, fair value	17,974,315	3,891,747
Available-for-sale securities, less than 12 months, unrealized loss	(973,848)	(39,256)
Available-for-sale securities, greater than 12 months, fair value	1,513,544	969,616
Available-for-sale securities, greater than 12 months, unrealized loss	(97,392)	(29,031)
Available-for-sale securities, fair value	19,487,859	4,861,363
Available-for-sale securities, unrealized loss	(1,071,240)	(68,287)
Fixed Maturities [Member] | US Treasury Securities [Member]
Available-for-sale securities, less than 12 months, fair value	250,606	250,750
Available-for-sale securities, less than 12 months, unrealized loss	(26,952)	(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	250,606	250,750
Available-for-sale securities, unrealized loss	(26,952)	(20,870)
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	11,573,963	848,853
Available-for-sale securities, less than 12 months, unrealized loss	(716,537)	(5,733)
Available-for-sale securities, greater than 12 months, fair value	217,784	121,718
Available-for-sale securities, greater than 12 months, unrealized loss	(20,806)	(4,987)
Available-for-sale securities, fair value	11,791,747	970,571
Available-for-sale securities, unrealized loss	(737,343)	(10,720)
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	3,649,017	735,257
Available-for-sale securities, less than 12 months, unrealized loss	(149,490)	(5,683)
Available-for-sale securities, greater than 12 months, fair value	328,873	192,962
Available-for-sale securities, greater than 12 months, unrealized loss	(24,067)	(7,038)
Available-for-sale securities, fair value	3,977,890	928,219
Available-for-sale securities, unrealized loss	(173,557)	(12,721)
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	94,000
Available-for-sale securities, less than 12 months, unrealized loss	(5,560)
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	94,000
Available-for-sale securities, unrealized loss	(5,560)
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	2,406,729	2,056,887
Available-for-sale securities, less than 12 months, unrealized loss	(75,309)	(6,970)
Available-for-sale securities, greater than 12 months, fair value	966,887	654,936
Available-for-sale securities, greater than 12 months, unrealized loss	(52,519)	(17,006)
Available-for-sale securities, fair value	3,373,616	2,711,823
Available-for-sale securities, unrealized loss	(127,828)	(23,976)
Equity Securities [Member]
Available-for-sale securities, less than 12 months, fair value	7,378,410	7,971,440
Available-for-sale securities, less than 12 months, unrealized loss	(219,272)	(105,946)
Available-for-sale securities, greater than 12 months, fair value	2,380,223	1,161,121
Available-for-sale securities, greater than 12 months, unrealized loss	(147,179)	(77,957)
Available-for-sale securities, fair value	9,758,633	9,132,561
Available-for-sale securities, unrealized loss	$ (366,451)	$ (183,903)

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Investments in available-for-sale securities, at fair value	$ 35,657,361	$ 33,609,215
Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	35,657,361	33,609,215
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	11,772,263	10,914,265
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	23,685,098	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	24,135,704	22,945,700
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	24,135,704	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	250,606	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	23,685,098	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	250,606	250,750
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	250,606	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	250,606	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	13,513,782	12,156,225
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	13,513,782	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	13,313,782	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	6,466,859	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	6,466,859	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	6,466,859	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	94,000	100,520
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	94,000
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	94,000
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	3,810,457	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	3,810,457	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	3,810,457	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	11,521,657	10,663,515
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Investments in available-for-sale securities, at fair value	11,521,657	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	11,521,657	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 Measureme_4

Note 4 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Assets and Liabilities (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Reported Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	$ 1,981,829	$ 651,809
Investment income due and accrued	265,766	214,998
Investments, at fair value	35,699,797	33,643,190
Total Financial Assets	37,947,392	34,509,997
Financial Liabilities:
Policyholder deposits in deposit-type contracts	15,637,161	13,448,891
Total Financial Liabilities	15,637,161	13,448,891
Estimate of Fair Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	1,981,829	651,809
Investment income due and accrued	265,766	214,998
Investments, at fair value	35,699,797	33,643,190
Total Financial Assets	37,947,392	34,509,997
Financial Liabilities:
Policyholder deposits in deposit-type contracts	13,745,313	12,508,470
Total Financial Liabilities	$ 13,745,313	$ 12,508,470

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($)	3 Months Ended
	Sep. 30, 2018	Sep. 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	$ 12,161,905		$ 11,886,891

Note 6 - Subsequent Events (Det

Note 6 - Subsequent Events (Details Textual) - GWLIC [Member] - Subsequent Event [Member]	Oct. 11, 2018USD ($)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total	$ 2,200,000
Business Combination, Recognized Statutory Capital and Surplus	1,700,000
Business Combination, Consideration Transferred, Total	$ 500,000