US Alliance 10-Q 12 May 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 05, 2020
Document Information [Line Items]
Entity Registrant Name	US Alliance Corp
Entity Central Index Key	0001463913
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 Ex Transition Period	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		7,740,743
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(g) Security	Common Stock, $0.10 par value per share

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Assets
Available for sale securities	$ 40,560,227	$ 43,294,395
Policy loans	141,650	118,930
Total investments	40,701,877	43,413,325
Cash and cash equivalents	7,227,537	6,678,805
Investment income due and accrued	354,528	321,362
Reinsurance related assets	13,782,795	188,382
Deferred acquisition costs, net	3,873,837	2,652,674
Value of business acquired, net	554,918	559,994
Property, equipment and software, net	41,282	43,841
Goodwill	277,542	277,542
Deferred tax asset, net of valuation allowance	431,158	431,158
Other assets	416,404	372,166
Total assets	67,661,878	54,939,249
Liabilities:
Deposit-type contracts	35,409,722	19,396,614
Policyholder benefit reserves	18,316,000	17,326,524
Dividend accumulation	121,016	123,038
Advance premiums	90,562	78,709
Total policy liabilities	53,937,300	36,924,885
Accounts payable and accrued expenses	163,397	122,981
Federal Home Loan Bank advance	(1,000,000)	(1,000,000)
Other liabilities	98,079	15,186
Total liabilities	55,198,776	38,063,052
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,740,700 and 7,734,004 shares as of March 31, 2020 and December 31, 2019, respectively	774,071	773,401
Additional paid-in capital	23,204,894	23,210,257
Accumulated deficit	(12,140,327)	(9,436,956)
Accumulated other comprehensive income	624,464	2,329,495
Total shareholders' equity	12,463,102	16,876,197
Total liabilities and shareholders' equity	67,661,878	54,939,249
Fixed Maturities [Member]
Assets
Available for sale securities	32,872,792	33,152,892
Equities, Including Equity Securities and Other Equity Investments [Member]
Assets
Available for sale securities	$ 7,687,435	$ 10,141,503

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Available for sale securities, amortized cost	$ 40,929,011	$ 40,806,347
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)	7,740,700	7,734,004
Common stock, shares outstanding (in shares)	7,740,700	7,734,004
Fixed Maturities [Member]
Available for sale securities, amortized cost	$ 32,248,318	$ 30,823,397
Equities, Including Equity Securities and Other Equity Investments [Member]
Available for sale securities, amortized cost	$ 8,680,693	$ 9,982,950

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income:
Premium income	$ 2,715,761	$ 2,392,976
Net investment income	514,708	397,646
Net investment gains (losses)	(1,370,761)	727,203
Other income	13,656	12,799
Total income	1,873,364	3,530,624
Expenses:
Death claims	481,712	395,667
Policyholder benefits	1,249,083	1,136,828
Increase in policyholder reserves	923,248	680,560
Commissions, net of deferrals	206,956	219,535
Amortization of deferred acquisition costs	575,210	62,902
Amortization of value of business acquired	5,076	5,076
Salaries & benefits	263,205	251,832
Other operating expenses	872,245	402,356
Total expense	4,576,735	3,154,756
Net income (loss)	$ (2,703,371)	$ 375,868
Net income (loss) per common share, basic and diluted (in dollars per share)	$ (0.35)	$ 0.05
Unrealized net holding gains (losses) arising during the period	$ (1,674,158)	$ 1,245,778
Reclassification adjustment for gains included in net loss	(30,873)
Other comprehensive income (loss)	(1,705,031)	1,245,778
Comprehensive income (loss)	$ (4,408,402)	$ 1,621,646

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018						7,650,551
Balance at Dec. 31, 2018			$ 1,098,760	$ (1,098,760)		$ 765,056	$ 22,989,443	$ (2,184,429)	$ (8,937,404)	$ 12,632,666
Common stock issued, $7 per share (in shares)						42,857
Common stock issued, $7 per share						$ 4,286	295,713			299,999
Costs associated with common stock issued							(143,109)			(143,109)
Other comprehensive income								1,245,778		1,245,778
Net income (loss)									375,868	375,868
Balance (in shares) at Mar. 31, 2019						7,693,408
Balance at Mar. 31, 2019						$ 769,342	23,142,047	160,109	(9,660,296)	14,411,202
Balance (in shares) at Dec. 31, 2019						7,734,004
Balance at Dec. 31, 2019						$ 773,401	23,210,257	2,329,495	(9,436,956)	16,876,197
Common stock issued, $7 per share (in shares)						6,696
Common stock issued, $7 per share						$ 670	46,202			46,872
Costs associated with common stock issued							(51,565)			(51,565)
Other comprehensive income								(1,705,031)		(1,705,031)
Net income (loss)									(2,703,371)	(2,703,371)
Balance (in shares) at Mar. 31, 2020						7,740,700
Balance at Mar. 31, 2020						$ 774,071	$ 23,204,894	$ 624,464	$ (12,140,327)	$ 12,463,102

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares	Mar. 31, 2020	Mar. 31, 2019
Common Stock [Member]
Common stock, price per share (in dollars per share)	$ 7	$ 7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net income (loss)	$ (2,703,371)	$ 375,868
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	2,559	2,559
Net realized (gains) losses on the sale of securities	218,953
Unrealized (gains) losses on equity securities	1,151,808	(727,203)
Amortization of investment securities, net	20,201	11,881
Deferred acquisition costs capitalized	(1,796,373)	(74,961)
Deferred acquisition costs amortized	575,210	62,902
Value of business acquired amortized	5,076	5,076
Interest credited on deposit type contracts	194,549	160,494
(Increase) decrease in operating assets:
Investment income due and accrued	(33,166)	(24,508)
Reinsurance related assets	(13,594,413)	60,531
Other assets	(44,238)	17,033
Increase (decrease) in operating liabilities:
Policyowner benefit reserves	989,476	631,551
Dividend Accumulation	(2,022)	(9,519)
Advance premiums	11,853	(6,587)
Other liabilities	82,893	(3,279)
Accounts payable and accrued expenses	40,416	12,463
Net cash provided by (used in) operating activities	(14,880,589)	494,301
Cash Flows from Investing Activities:
Purchase of fixed income investments	(876,333)	(615,289)
Purchase of equity investments	(2,974,768)	(173,630)
Proceeds from fixed income sales and repayments	523,611	52,582
Proceeds from equity sales and repayments	2,965,665
Interest on policy loans	(2,477)	(674)
Increase in policy loans	(20,243)	(222)
Net cash used in investing activities	(384,545)	(737,233)
Cash Flows from Financing Activities:
Receipts on deposit-type contracts	16,468,780	965,438
Withdrawals on deposit-type contracts	(650,221)	(471,668)
Proceeds from FHLB advance
Proceeds received from issuance of common stock, net of costs of issuance	(4,693)	156,890
Net cash provided by financing activities	15,813,866	650,660
Net increase in cash and cash equivalents	548,732	407,728
Cash and Cash Equivalents:
Beginning	6,678,805	2,077,646
Ending	$ 7,227,537	$ 2,485,374

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. Description of business April 24, 2009 4123 240, 66604. 785 228 0200 www.usalliancecorporation.com USAC has five June 9, 2011, April 23, 2012, April 23, 2012 August 1, 2017 December 14, 2018. The Company terminated its initial public offering on 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, 2021. 4th 2017, USALSC and DCLIC seek opportunities to develop and market additional products. Our business model also anticipates the acquisition by USAC and/or USALSC of other insurance and insurance related companies, including third Basis of presentation : 10 10 X. not The results of operation for the three March 31, 2020 not December 31, 2020 19 not 10 December 31, 2019. Principles of consolidation Area of Operation: Reclassifications no Common stock and earnings (loss) per share: $0.10 20,000,000 March 31, 2020, December 31, 2019, 7,740,700 7,734,004 Earnings (loss) per share attributable to the Company’s common stockholders were computed based on the net loss and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the quarters ended March 31, 2020 2019 7,736,236 7,664,837 March 31, 2020 2019. 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 was effective for the Company for the year ended December 31, 2019 10,987,539 1,098,760 $1,098,760 2019. 2016 01, $1.1 December 31, 2019 Leases In February 2016, 12 two no not The updated guidance is effective for reporting periods beginning after December 15, 2018, December 15, 2020. not Measurement of Credit Losses on Financial Instruments In June 2016, The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. December 15, 2022. not Classification of Certain C ash R eceipts and Cash P ayment In August 2016, eight not December 15, 2017, December 15, 2018. not Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On December 22, 2017, H.R.1, 2018 February 2018, December 15, 2018, not Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, 2018 12 2018 12 not 2018 12 December 15, 2023, All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not

Note 2 - Investments

Note 2 - Investments	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Investment Holdings [Text Block]	Note 2 . Investments The amortized cost and fair value of available for sale and held to maturity investments as of March 31, 2020 December 31, 2019 March 31, 2020 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 607,488 $ 44,731 $ - $ 652,219 Corporate bonds 19,275,711 1,181,877 (799,794 ) 19,657,794 Municipal bonds 6,229,825 517,035 (1,991 ) 6,744,869 Redeemable preferred stock 3,154,668 - (337,743 ) 2,816,925 Mortgage backed and asset backed securities 2,980,626 50,942 (30,583 ) 3,000,985 Total fixed maturities 32,248,318 1,794,585 (1,170,111 ) 32,872,792 Equities: Common stock 6,737,247 64,271 (1,002,104 ) 5,799,414 Preferred stock 1,943,446 13,880 (69,305 ) 1,888,021 Total equities 8,680,693 78,151 (1,071,409 ) 7,687,435 Total available for sale $ 40,929,011 $ 1,872,736 $ (2,241,520 ) $ 40,560,227 December 31, 2019 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 608,477 $ 24,162 $ - $ 632,639 Corporate bonds 18,407,211 1,697,265 (20,079 ) 20,084,397 Municipal bonds 6,538,883 518,059 (1,883 ) 7,055,059 Redeemable preferred stock 2,097,206 36,687 - 2,133,893 Mortgage backed and asset backed securities 3,171,620 77,593 (2,309 ) 3,246,904 Total fixed maturities 30,823,397 2,353,766 (24,271 ) 33,152,892 Equities: Common stock 9,064,262 239,490 (89,058 ) 9,214,694 Preferred stock 918,688 8,121 - 926,809 Total equities 9,982,950 247,611 (89,058 ) 10,141,503 Total available for sale $ 40,806,347 $ 2,601,377 $ (113,329 ) $ 43,294,395 The amortized cost and fair value of debt securities as of March 31, 2020 December 31, 2019, not not may may As of March 31, 2020 As of December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 99,991 $ 100,174 $ 99,987 $ 100,239 After one year through five years 1,424,877 1,441,107 1,424,337 1,471,552 After five years through ten years 3,212,049 3,430,423 3,286,937 3,574,191 More than 10 years 21,376,107 22,083,178 20,743,310 22,626,113 Redeemable preferred stocks 3,154,668 2,816,925 2,097,206 2,133,893 Mortgage backed and asset backed securities 2,980,626 3,000,985 3,171,620 3,246,904 Total amortized cost and fair value $ 32,248,318 $ 32,872,792 $ 30,823,397 $ 33,152,892 Proceeds from the sale of securities, maturities, and asset paydowns for the first three 2020 2019 $3,489,276 $52,582 Three Months Ended March 31, (unaudited) 2020 2019 Gross gains $ 44,295 $ - Gross losses (263,248 ) - Net security gains (losses) $ (218,953 ) $ - Gross unrealized losses by duration are summarized as follows: Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss March 31, 2020 (unaudited) Available for sale: Fixed maturities: Corporate bonds $ 4,647,625 $ (799,794 ) $ - $ - $ 4,647,625 $ (799,794 ) Municipal bonds 147,391 (1,991 ) - - 147,391 (1,991 ) Redeemable preferred stock 2,816,926 (337,743 ) - - 2,816,926 (337,743 ) Mortgage backed and asset backed securities 1,029,824 (30,583 ) - - 1,029,824 (30,583 ) Total fixed maturities 8,641,766 (1,170,111 ) - - 8,641,766 (1,170,111 ) Equities: Common stock 4,816,906 (905,942 ) 604,695 (96,162 ) 5,421,601 (1,002,104 ) Preferred stock 1,402,290 (69,305 ) - - 1,402,290 (69,305 ) Total equities 6,219,196 (975,247 ) 604,695 (96,162 ) 6,823,891 (1,071,409 ) Total available for sale $ 14,860,962 $ (2,145,358 ) $ 604,695 $ (96,162 ) $ 15,465,657 $ (2,241,520 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2019 Available for sale: Fixed maturities: Corporate bonds $ 967,848 $ (20,079 ) $ - $ - $ 967,848 $ (20,079 ) Municipal bonds 46,646 (1,883 ) - - 46,646 (1,883 ) Mortgage backed and asset backed securities - - 296,576 (2,309 ) 296,576 (2,309 ) Total fixed maturities 1,014,494 (21,962 ) 296,576 (2,309 ) 1,311,070 (24,271 ) Equities: Common stock 68,789 (6,920 ) 3,174,847 (82,138 ) 3,243,636 (89,058 ) Total equities 68,789 (6,920 ) 3,174,847 (82,138 ) 3,243,636 (89,058 ) Total available for sale $ 1,083,283 $ (28,882 ) $ 3,471,423 $ (84,447 ) $ 4,554,706 $ (113,329 ) 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 March 31, 2020 71, $2,241,520 71 27 15 18 1 1 9 no March 31, 2020 December 31, 2019.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 3 . Fair Value Measurements The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. The Company uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1 ● Level 2 1 ● Level 3 Investments, available for sale third third The following table presents the amounts of assets measured at fair value on a recurring basis as of March 31, 2020 December 31, 2019: March 31, 2020 Total Level 1 Level 2 Level 3 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 652,219 $ 652,219 $ - $ - Corporate bonds 19,657,794 - 19,466,194 191,600 Municipal bonds 6,744,869 - 6,744,869 - Redeemable preferred stock 2,816,925 - 2,816,925 - Mortgage backed and asset backed securities 3,000,985 - 3,000,985 - Total fixed maturities 32,872,792 652,219 32,028,973 191,600 Equities: Common stock 5,799,414 5,389,644 409,770 - Preferred stock 1,888,021 - 1,888,021 - Total equities 7,687,435 5,389,644 2,297,791 - Total $ 40,560,227 $ 6,041,863 $ 34,326,764 $ 191,600 December 31, 2019 Total Level 1 Level 2 Level 3 Available for sale: Fixed maturities: US Treasury securities $ 632,639 $ 632,639 $ - $ - Corporate bonds 20,084,397 - 19,892,797 191,600 Municipal bonds 7,055,059 - 7,055,059 - Redeemable preferred stock 2,133,893 - 2,133,893 - Mortgage backed and asset backed securities 3,246,904 - 3,246,904 - Total fixed maturities 33,152,892 632,639 32,328,653 191,600 Equities: Common stock 9,214,694 9,169,694 45,000 - Preferred stock 926,809 - 926,809 - Total equities 10,141,503 9,169,694 971,809 - Total $ 43,294,395 $ 9,802,333 $ 33,300,462 $ 191,600 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 Federal Home Loan Bank Advances: Policyholder deposits in deposit-type contracts The estimated fair values of the Company’s financial assets and liabilities at March 31, 2020 December 31, 2019 March 31, 2020 (unaudited) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 7,227,537 $ 7,227,537 $ 7,227,537 $ - $ - Investment income due and accrued 354,528 354,528 - 354,528 - Policy loans 141,650 141,650 - - 141,650 Total Financial Assets (excluding available for sale investments) $ 7,723,715 $ 7,723,715 $ 7,227,537 $ 354,528 $ 141,650 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 35,409,722 37,721,270 - - 37,721,270 Total Financial Liabilities $ 36,409,722 $ 38,721,270 $ - $ - $ 38,721,270 December 31, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 6,678,805 $ 6,678,805 $ 6,678,805 $ - $ - Investment income due and accrued 321,362 321,362 - 321,362 - Policy loans 118,930 118,930 - - 118,930 Total Financial Assets (excluding available for sale investments) $ 7,119,097 $ 7,119,097 $ 6,678,805 $ 321,362 $ 118,930 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 19,396,614 19,186,265 - - 19,186,265 Total Financial Liabilities $ 20,396,614 $ 20,186,265 $ - $ - $ 20,186,265

Note 5 - Income Tax Provision

Note 5 - Income Tax Provision	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5 . Income Tax Provision No March 31, 2020 2019 The net operating loss carryforwards for the Company are $13,088,121 $12,577,367 March 31, 2020 December 31, 2019, $431,158 March 31, 2020 December 31, 2019,

Note 6 - Subsequent Events

Note 6 - Subsequent Events	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	Note 6 . Subsequent Events All of the effects of subsequent events that provide additional evidence about conditions that existed at the balance sheet date, including the estimates inherent in the process of preparing the consolidated financial statements, are recognized in the consolidated financial statements. The Company does not not The Company has evaluated subsequent events through May 11, 2020, New Reinsurance Agreement On April 15, 2020, January 1, 2020. $15.4 first $13.5 March 31, 2020 Uncertainty Due to Covid- 19 As a result of Covid- 19, March 11, 2020,

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation : 10 10 X. not The results of operation for the three March 31, 2020 not December 31, 2020 19 not 10 December 31, 2019.
Consolidation, Policy [Policy Text Block]	Principles of consolidation
Area of Operation, Policy [Policy Text Block]	Area of Operation:
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications no
Earnings Per Share, Policy [Policy Text Block]	Common stock and earnings (loss) per share: $0.10 20,000,000 March 31, 2020, December 31, 2019, 7,740,700 7,734,004 Earnings (loss) per share attributable to the Company’s common stockholders were computed based on the net loss and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the quarters ended March 31, 2020 2019 7,736,236 7,664,837 March 31, 2020 2019.
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 was effective for the Company for the year ended December 31, 2019 10,987,539 1,098,760 $1,098,760 2019. 2016 01, $1.1 December 31, 2019 Leases In February 2016, 12 two no not The updated guidance is effective for reporting periods beginning after December 15, 2018, December 15, 2020. not Measurement of Credit Losses on Financial Instruments In June 2016, The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. December 15, 2022. not Classification of Certain C ash R eceipts and Cash P ayment In August 2016, eight not December 15, 2017, December 15, 2018. not Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On December 22, 2017, H.R.1, 2018 February 2018, December 15, 2018, not Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, 2018 12 2018 12 not 2018 12 December 15, 2023, All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Available-for-sale Securities [Table Text Block]	March 31, 2020 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 607,488 $ 44,731 $ - $ 652,219 Corporate bonds 19,275,711 1,181,877 (799,794 ) 19,657,794 Municipal bonds 6,229,825 517,035 (1,991 ) 6,744,869 Redeemable preferred stock 3,154,668 - (337,743 ) 2,816,925 Mortgage backed and asset backed securities 2,980,626 50,942 (30,583 ) 3,000,985 Total fixed maturities 32,248,318 1,794,585 (1,170,111 ) 32,872,792 Equities: Common stock 6,737,247 64,271 (1,002,104 ) 5,799,414 Preferred stock 1,943,446 13,880 (69,305 ) 1,888,021 Total equities 8,680,693 78,151 (1,071,409 ) 7,687,435 Total available for sale $ 40,929,011 $ 1,872,736 $ (2,241,520 ) $ 40,560,227 December 31, 2019 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 608,477 $ 24,162 $ - $ 632,639 Corporate bonds 18,407,211 1,697,265 (20,079 ) 20,084,397 Municipal bonds 6,538,883 518,059 (1,883 ) 7,055,059 Redeemable preferred stock 2,097,206 36,687 - 2,133,893 Mortgage backed and asset backed securities 3,171,620 77,593 (2,309 ) 3,246,904 Total fixed maturities 30,823,397 2,353,766 (24,271 ) 33,152,892 Equities: Common stock 9,064,262 239,490 (89,058 ) 9,214,694 Preferred stock 918,688 8,121 - 926,809 Total equities 9,982,950 247,611 (89,058 ) 10,141,503 Total available for sale $ 40,806,347 $ 2,601,377 $ (113,329 ) $ 43,294,395
Investments Classified by Contractual Maturity Date [Table Text Block]	As of March 31, 2020 As of December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 99,991 $ 100,174 $ 99,987 $ 100,239 After one year through five years 1,424,877 1,441,107 1,424,337 1,471,552 After five years through ten years 3,212,049 3,430,423 3,286,937 3,574,191 More than 10 years 21,376,107 22,083,178 20,743,310 22,626,113 Redeemable preferred stocks 3,154,668 2,816,925 2,097,206 2,133,893 Mortgage backed and asset backed securities 2,980,626 3,000,985 3,171,620 3,246,904 Total amortized cost and fair value $ 32,248,318 $ 32,872,792 $ 30,823,397 $ 33,152,892
Realized Gain (Loss) on Investments [Table Text Block]	Three Months Ended March 31, (unaudited) 2020 2019 Gross gains $ 44,295 $ - Gross losses (263,248 ) - Net security gains (losses) $ (218,953 ) $ -
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]	Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss March 31, 2020 (unaudited) Available for sale: Fixed maturities: Corporate bonds $ 4,647,625 $ (799,794 ) $ - $ - $ 4,647,625 $ (799,794 ) Municipal bonds 147,391 (1,991 ) - - 147,391 (1,991 ) Redeemable preferred stock 2,816,926 (337,743 ) - - 2,816,926 (337,743 ) Mortgage backed and asset backed securities 1,029,824 (30,583 ) - - 1,029,824 (30,583 ) Total fixed maturities 8,641,766 (1,170,111 ) - - 8,641,766 (1,170,111 ) Equities: Common stock 4,816,906 (905,942 ) 604,695 (96,162 ) 5,421,601 (1,002,104 ) Preferred stock 1,402,290 (69,305 ) - - 1,402,290 (69,305 ) Total equities 6,219,196 (975,247 ) 604,695 (96,162 ) 6,823,891 (1,071,409 ) Total available for sale $ 14,860,962 $ (2,145,358 ) $ 604,695 $ (96,162 ) $ 15,465,657 $ (2,241,520 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2019 Available for sale: Fixed maturities: Corporate bonds $ 967,848 $ (20,079 ) $ - $ - $ 967,848 $ (20,079 ) Municipal bonds 46,646 (1,883 ) - - 46,646 (1,883 ) Mortgage backed and asset backed securities - - 296,576 (2,309 ) 296,576 (2,309 ) Total fixed maturities 1,014,494 (21,962 ) 296,576 (2,309 ) 1,311,070 (24,271 ) Equities: Common stock 68,789 (6,920 ) 3,174,847 (82,138 ) 3,243,636 (89,058 ) Total equities 68,789 (6,920 ) 3,174,847 (82,138 ) 3,243,636 (89,058 ) Total available for sale $ 1,083,283 $ (28,882 ) $ 3,471,423 $ (84,447 ) $ 4,554,706 $ (113,329 )

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	March 31, 2020 Total Level 1 Level 2 Level 3 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 652,219 $ 652,219 $ - $ - Corporate bonds 19,657,794 - 19,466,194 191,600 Municipal bonds 6,744,869 - 6,744,869 - Redeemable preferred stock 2,816,925 - 2,816,925 - Mortgage backed and asset backed securities 3,000,985 - 3,000,985 - Total fixed maturities 32,872,792 652,219 32,028,973 191,600 Equities: Common stock 5,799,414 5,389,644 409,770 - Preferred stock 1,888,021 - 1,888,021 - Total equities 7,687,435 5,389,644 2,297,791 - Total $ 40,560,227 $ 6,041,863 $ 34,326,764 $ 191,600 December 31, 2019 Total Level 1 Level 2 Level 3 Available for sale: Fixed maturities: US Treasury securities $ 632,639 $ 632,639 $ - $ - Corporate bonds 20,084,397 - 19,892,797 191,600 Municipal bonds 7,055,059 - 7,055,059 - Redeemable preferred stock 2,133,893 - 2,133,893 - Mortgage backed and asset backed securities 3,246,904 - 3,246,904 - Total fixed maturities 33,152,892 632,639 32,328,653 191,600 Equities: Common stock 9,214,694 9,169,694 45,000 - Preferred stock 926,809 - 926,809 - Total equities 10,141,503 9,169,694 971,809 - Total $ 43,294,395 $ 9,802,333 $ 33,300,462 $ 191,600
Fair Value, by Balance Sheet Grouping [Table Text Block]	March 31, 2020 (unaudited) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 7,227,537 $ 7,227,537 $ 7,227,537 $ - $ - Investment income due and accrued 354,528 354,528 - 354,528 - Policy loans 141,650 141,650 - - 141,650 Total Financial Assets (excluding available for sale investments) $ 7,723,715 $ 7,723,715 $ 7,227,537 $ 354,528 $ 141,650 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 35,409,722 37,721,270 - - 37,721,270 Total Financial Liabilities $ 36,409,722 $ 38,721,270 $ - $ - $ 38,721,270 December 31, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 6,678,805 $ 6,678,805 $ 6,678,805 $ - $ - Investment income due and accrued 321,362 321,362 - 321,362 - Policy loans 118,930 118,930 - - 118,930 Total Financial Assets (excluding available for sale investments) $ 7,119,097 $ 7,119,097 $ 6,678,805 $ 321,362 $ 118,930 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 19,396,614 19,186,265 - - 19,186,265 Total Financial Liabilities $ 20,396,614 $ 20,186,265 $ - $ - $ 20,186,265

Note 1 - Description of Busin_2

Note 1 - Description of Business and Significant Accounting Policies (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares	Mar. 31, 2019USD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Number of Wholly-Owned Operating Subsidiaries	5
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.10		$ 0.10
Common Stock, Shares Authorized (in shares) | shares	20,000,000		20,000,000
Common Stock, Shares, Issued, Total (in shares) | shares	7,740,700		7,734,004
Common Stock, Shares, Outstanding, Ending Balance (in shares) | shares	7,740,700		7,734,004
Weighted Average Number of Shares Outstanding, Basic and Diluted (in shares) | shares	7,736,236	7,664,837
Equity Securities, FV-NI			$ 10,987,539
Equity Securities, FV-NI, Unrealized Gain (Loss), Total	$ (1,151,808)	$ 727,203	1,098,760
Stockholders' Equity Attributable to Parent, Ending Balance	12,463,102	14,411,202	16,876,197		$ 12,632,666
Equity Securities, FV-NI, Gain (Loss), Total			1,100,000
AOCI Attributable to Parent [Member]
Stockholders' Equity Attributable to Parent, Ending Balance	624,464	160,109	2,329,495		(2,184,429)
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent, Ending Balance	$ (12,140,327)	$ (9,660,296)	$ (9,436,956)		(8,937,404)
Cumulative Effect, Period of Adoption, Adjustment [Member]
Stockholders' Equity Attributable to Parent, Ending Balance
Cumulative Effect, Period of Adoption, Adjustment [Member] | AOCI Attributable to Parent [Member]
Stockholders' Equity Attributable to Parent, Ending Balance					1,098,760
Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member]
Stockholders' Equity Attributable to Parent, Ending Balance					$ (1,098,760)
Accounting Standards Update 2016-01 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | AOCI Attributable to Parent [Member]
Stockholders' Equity Attributable to Parent, Ending Balance				$ 1,098,760
Accounting Standards Update 2016-01 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member]
Stockholders' Equity Attributable to Parent, Ending Balance				$ (1,098,760)

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Proceeds from Sale, Maturity and Collection of Investments, Total	$ 3,489,276	$ 52,582
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	71
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax, Total	$ 2,241,520
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total	$ 0		$ 0
Fixed Income Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	27
Collateralized Mortgage Backed Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	15
Preferred Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	18
Preferred Stock Index Fund [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1
Senior Loan Fund [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	1
Common Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	9

Note 2 - Investments - Amortize

Note 2 - Investments - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Investments (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Debt securities, amortized cost	$ 40,929,011	$ 40,806,347
Gross Unrealized Gains	1,872,736	2,601,377
Gross Unrealized Losses	(2,241,520)	(113,329)
Investments in available-for-sale securities, at fair value	40,560,227	43,294,395
Fixed Maturities [Member]
Debt securities, amortized cost	32,248,318	30,823,397
Gross Unrealized Gains	1,794,585	2,353,766
Gross Unrealized Losses	(1,170,111)	(24,271)
Investments in available-for-sale securities, at fair value	32,872,792	33,152,892
Equity Securities [Member]
Debt securities, amortized cost	8,680,693	9,982,950
Gross Unrealized Gains	78,151	247,611
Gross Unrealized Losses	(1,071,409)	(89,058)
Investments in available-for-sale securities, at fair value	7,687,435	10,141,503
US Treasury Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	607,488	608,477
Gross Unrealized Gains	44,731	24,162
Gross Unrealized Losses
Investments in available-for-sale securities, at fair value	652,219	632,639
Corporate Debt Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	19,275,711	18,407,211
Gross Unrealized Gains	1,181,877	1,697,265
Gross Unrealized Losses	(799,794)	(20,079)
Investments in available-for-sale securities, at fair value	19,657,794	20,084,397
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	6,229,825	6,538,883
Gross Unrealized Gains	517,035	518,059
Gross Unrealized Losses	(1,991)	(1,883)
Investments in available-for-sale securities, at fair value	6,744,869	7,055,059
Redeemable Preferred Stock [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	3,154,668	2,097,206
Gross Unrealized Gains		36,687
Gross Unrealized Losses	(337,743)
Investments in available-for-sale securities, at fair value	2,816,925	2,133,893
Collateralized Mortgage Backed Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	2,980,626	3,171,620
Gross Unrealized Gains	50,942	77,593
Gross Unrealized Losses	(30,583)	(2,309)
Investments in available-for-sale securities, at fair value	3,000,985	3,246,904
Common Stock [Member] | Equity Securities [Member]
Debt securities, amortized cost	6,737,247	9,064,262
Gross Unrealized Gains	64,271	239,490
Gross Unrealized Losses	(1,002,104)	(89,058)
Investments in available-for-sale securities, at fair value	5,799,414	9,214,694
Preferred Stock [Member] | Equity Securities [Member]
Debt securities, amortized cost	1,943,446	918,688
Gross Unrealized Gains	13,880	8,121
Gross Unrealized Losses	(69,305)
Investments in available-for-sale securities, at fair value	$ 1,888,021	$ 926,809

Note 2 - Investments - Amorti_2

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Debt securities, amortized cost	$ 40,929,011	$ 40,806,347
Debt securities, fair value	40,560,227	43,294,395
Fixed Maturities [Member]
One year or less, amortized cost	99,991	99,987
One year or less, fair value	100,174	100,239
After one year through five years, amortized cost	1,424,877	1,424,337
After one year through five years, fair value	1,441,107	1,471,552
After five years through ten years, amortized cost	3,212,049	3,286,937
After five years through ten years, fair value	3,430,423	3,574,191
More than 10 years, amortized cost	21,376,107	20,743,310
More than 10 years, fair value	22,083,178	22,626,113
Debt securities, amortized cost	32,248,318	30,823,397
Debt securities, fair value	32,872,792	33,152,892
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Debt securities, amortized cost	3,154,668	2,097,206
Debt securities, fair value	2,816,925	2,133,893
Debt securities, amortized cost	3,154,668	2,097,206
Debt securities, fair value	2,816,925	2,133,893
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Debt securities, amortized cost	2,980,626	3,171,620
Debt securities, fair value	3,000,985	3,246,904
Debt securities, amortized cost	2,980,626	3,171,620
Debt securities, fair value	$ 3,000,985	$ 3,246,904

Note 2 - Investments - Realized

Note 2 - Investments - Realized Gains and Losses Related to the Sale of Securities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Gross gains	$ 44,295
Gross losses	(263,248)
Net security gains (losses)	$ (218,953)

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Available-for-sale securities, less than 12 months, fair value	$ 14,860,962	$ 1,083,283
Available-for-sale securities, less than 12 months, unrealized loss	(2,145,358)	(28,882)
Available-for-sale securities, greater than 12 months, fair value	604,695	3,471,423
Available-for-sale securities, greater than 12 months, unrealized loss	(96,162)	(84,447)
Available-for-sale securities, fair value	15,465,657	4,554,706
Available-for-sale securities, unrealized loss	(2,241,520)	(113,329)
Fixed Maturities [Member]
Available-for-sale securities, less than 12 months, fair value	8,641,766	1,014,494
Available-for-sale securities, less than 12 months, unrealized loss	(1,170,111)	(21,962)
Available-for-sale securities, greater than 12 months, fair value		296,576
Available-for-sale securities, greater than 12 months, unrealized loss		(2,309)
Available-for-sale securities, fair value	8,641,766	1,311,070
Available-for-sale securities, unrealized loss	(1,170,111)	(24,271)
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	4,647,625	967,848
Available-for-sale securities, less than 12 months, unrealized loss	(799,794)	(20,079)
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	4,647,625	967,848
Available-for-sale securities, unrealized loss	(799,794)	(20,079)
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	147,391	46,646
Available-for-sale securities, less than 12 months, unrealized loss	(1,991)	(1,883)
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	147,391	46,646
Available-for-sale securities, unrealized loss	(1,991)	(1,883)
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	2,816,926
Available-for-sale securities, less than 12 months, unrealized loss	(337,743)
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	2,816,926
Available-for-sale securities, unrealized loss	(337,743)
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	1,029,824
Available-for-sale securities, less than 12 months, unrealized loss	(30,583)
Available-for-sale securities, greater than 12 months, fair value		296,576
Available-for-sale securities, greater than 12 months, unrealized loss		(2,309)
Available-for-sale securities, fair value	1,029,824	296,576
Available-for-sale securities, unrealized loss	(30,583)	(2,309)
Equity Securities [Member]
Available-for-sale securities, less than 12 months, fair value	6,219,196	68,789
Available-for-sale securities, less than 12 months, unrealized loss	(975,247)	(6,920)
Available-for-sale securities, greater than 12 months, fair value	604,695	3,174,847
Available-for-sale securities, greater than 12 months, unrealized loss	(96,162)	(82,138)
Available-for-sale securities, fair value	6,823,891	3,243,636
Available-for-sale securities, unrealized loss	(1,071,409)	(89,058)
Equity Securities [Member] | Common Stock [Member]
Available-for-sale securities, less than 12 months, fair value	4,816,906	68,789
Available-for-sale securities, less than 12 months, unrealized loss	(905,942)	(6,920)
Available-for-sale securities, greater than 12 months, fair value	604,695	3,174,847
Available-for-sale securities, greater than 12 months, unrealized loss	(96,162)	(82,138)
Available-for-sale securities, fair value	5,421,601	3,243,636
Available-for-sale securities, unrealized loss	(1,002,104)	$ (89,058)
Equity Securities [Member] | Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	1,402,290
Available-for-sale securities, less than 12 months, unrealized loss	(69,305)
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	1,402,290
Available-for-sale securities, unrealized loss	$ (69,305)

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Investments in available-for-sale securities, at fair value	$ 40,560,227	$ 43,294,395
Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	40,560,227	43,294,395
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	6,041,863	9,802,333
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	34,326,764	33,300,462
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value	191,600	191,600
Fixed Maturities [Member]
Investments in available-for-sale securities, at fair value	32,872,792	33,152,892
Fixed Maturities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	32,872,792	33,152,892
Fixed Maturities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	652,219	632,639
Fixed Maturities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	32,028,973	32,328,653
Fixed Maturities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value	191,600	191,600
Fixed Maturities [Member] | US Treasury Securities [Member]
Investments in available-for-sale securities, at fair value	652,219	632,639
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	652,219	632,639
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	652,219	632,639
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, 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, 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	19,657,794	20,084,397
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	19,657,794	20,084,397
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, 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, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	19,466,194	19,892,797
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value	191,600	191,600
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Investments in available-for-sale securities, at fair value	6,744,869	7,055,059
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	6,744,869	7,055,059
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, 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, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	6,744,869	7,055,059
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, 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	2,816,925	2,133,893
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	2,816,925	2,133,893
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, 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, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	2,816,925	2,133,893
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, 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	3,000,985	3,246,904
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	3,000,985	3,246,904
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, 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, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	3,000,985	3,246,904
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, 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	7,687,435	10,141,503
Equity Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	7,687,435	10,141,503
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	5,389,644	9,169,694
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	2,297,791	971,809
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value
Equity Securities [Member] | Common Stock [Member]
Investments in available-for-sale securities, at fair value	5,799,414	9,214,694
Equity Securities [Member] | Common Stock [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	5,799,414	9,214,694
Equity Securities [Member] | Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	5,389,644	9,169,694
Equity Securities [Member] | Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	409,770	45,000
Equity Securities [Member] | Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value
Equity Securities [Member] | Preferred Stock [Member]
Investments in available-for-sale securities, at fair value	1,888,021	926,809
Equity Securities [Member] | Preferred Stock [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	1,888,021	926,809
Equity Securities [Member] | Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value
Equity Securities [Member] | Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	1,888,021	926,809
Equity Securities [Member] | Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value

Note 3 - Fair Value Measureme_4

Note 3 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Assets and Liabilities (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Reported Value Measurement [Member]
Cash and cash equivalents	$ 7,227,537	$ 6,678,805
Investment income due and accrued	354,528	321,362
Policy loans	141,650	118,930
Total Financial Assets (excluding available for sale investments)	7,723,715	7,119,097
Federal Home Loan Bank advance	1,000,000	1,000,000
Policyholder deposits in deposit-type contracts	35,409,722	19,396,614
Total Financial Liabilities	36,409,722	20,396,614
Federal Home Loan Bank advance	1,000,000	1,000,000
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	7,227,537	6,678,805
Investment income due and accrued	354,528	321,362
Policy loans	141,650	118,930
Total Financial Assets (excluding available for sale investments)	7,723,715	7,119,097
Federal Home Loan Bank advance	1,000,000	1,000,000
Policyholder deposits in deposit-type contracts	37,721,270	19,186,265
Total Financial Liabilities	38,721,270	20,186,265
Federal Home Loan Bank advance	1,000,000	1,000,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	7,227,537	6,678,805
Investment income due and accrued
Policy loans
Total Financial Assets (excluding available for sale investments)	7,227,537	6,678,805
Federal Home Loan Bank advance
Policyholder deposits in deposit-type contracts
Total Financial Liabilities
Federal Home Loan Bank advance
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
Investment income due and accrued	354,528	321,362
Policy loans
Total Financial Assets (excluding available for sale investments)	354,528	321,362
Federal Home Loan Bank advance
Policyholder deposits in deposit-type contracts
Total Financial Liabilities
Federal Home Loan Bank advance
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Investment income due and accrued
Policy loans	141,650	118,930
Total Financial Assets (excluding available for sale investments)	141,650	118,930
Federal Home Loan Bank advance	1,000,000	1,000,000
Policyholder deposits in deposit-type contracts	37,721,270	19,186,265
Total Financial Liabilities	38,721,270	20,186,265
Federal Home Loan Bank advance	$ 1,000,000	$ 1,000,000

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Expense (Benefit), Total	$ 0	$ 0
Operating Loss Carryforwards, Total	13,088,121		$ 12,577,367
Deferred Income Tax Assets, Net, Total	$ 431,158		$ 431,158

Note 6 - Subsequent Events (Det

Note 6 - Subsequent Events (Details Textual) - American Life and Security Corporation [Member] $ in Millions	Mar. 31, 2020USD ($)
Reinsurance Payable	$ 15.4
Reinsurance Recoverables, Including Reinsurance Premium Paid, Ending Balance	$ 13.5