US Alliance 10-Q 13 Aug 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 04, 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)		7,741,272
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
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 ($)	Jun. 30, 2020	Dec. 31, 2019
Assets
Available for sale fixed maturity securities (amortized cost: $32,635,261 and $30,823,397 as of June 30, 2020 and December 31, 2019, respectively)	$ 36,152,521	$ 33,152,892
Mortgage loans on real estate	962,690
Funds withheld under coinsurance agreement, at fair value	41,294,491
Policy loans	154,088	118,930
Total investments	87,705,290	43,413,325
Cash and cash equivalents	7,376,813	6,678,805
Investment income due and accrued	370,326	321,362
Reinsurance related assets	922,104	188,382
Deferred acquisition costs, net	8,310,532	2,652,674
Value of business acquired, net	549,843	559,994
Property, equipment and software, net	38,722	43,841
Goodwill	277,542	277,542
Deferred tax asset, net of valuation allowance	431,158	431,158
Other assets	890,771	372,166
Total assets	106,873,101	54,939,249
Liabilities:
Deposit-type contracts	70,647,008	19,396,614
Policyholder benefit reserves	18,976,406	17,326,524
Dividend accumulation	114,290	123,038
Advance premiums	80,727	78,709
Total policy liabilities	89,818,431	36,924,885
Accounts payable and accrued expenses	148,434	122,981
Federal Home Loan Bank advance	(2,000,000)	(1,000,000)
Other liabilities	20,464	15,186
Total liabilities	91,987,329	38,063,052
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,741,229 and 7,734,004 shares as of June 30, 2020 and December 31, 2019, respectively	774,124	773,401
Additional paid-in capital	23,161,098	23,210,257
Accumulated deficit	(12,566,699)	(9,436,956)
Accumulated other comprehensive income	3,517,249	2,329,495
Total shareholders' equity	14,885,772	16,876,197
Total liabilities and shareholders' equity	106,873,101	54,939,249
Fixed Maturities [Member]
Assets
Available for sale fixed maturity securities (amortized cost: $32,635,261 and $30,823,397 as of June 30, 2020 and December 31, 2019, respectively)	36,152,521	33,152,892
Equity Securities [Member]
Assets
Available for sale fixed maturity securities (amortized cost: $32,635,261 and $30,823,397 as of June 30, 2020 and December 31, 2019, respectively)	$ 9,141,500	$ 10,141,503

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Available for sale securities, amortized cost	$ 32,635,261	$ 30,823,397
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)	7,741,229	7,734,004
Common stock, shares outstanding (in shares)	7,741,229	7,734,004
Fixed Maturities [Member]
Available for sale securities, amortized cost	$ 32,635,261	$ 30,823,397

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income:
Premium income	$ 2,368,017	$ 2,527,714	$ 5,083,778	$ 4,920,690
Net investment income	741,303	451,106	1,256,011	861,038
Net investment gains (losses)	11,656	104,086	(1,359,105)	831,289
Other income	14,052	12,259	27,708	25,058
Total income	3,135,028	3,095,165	5,008,392	6,638,075
Expenses:
Death claims	440,944	328,649	922,656	724,316
Policyholder benefits	1,398,622	1,168,467	2,647,705	2,305,295
Increase in policyholder reserves	689,445	757,098	1,612,693	1,437,658
Commissions, net of deferrals	164,614	194,064	371,570	413,599
Amortization of deferred acquisition costs	172,162	117,825	747,372	180,727
Amortization of value of business acquired	5,075	5,076	10,151	10,152
Salaries & benefits	253,880	250,895	517,085	502,727
Other operating expenses	436,658	307,873	1,308,903	722,515
Total expense	3,561,400	3,129,947	8,138,135	6,296,989
Net income (loss)	$ (426,372)	$ (34,782)	$ (3,129,743)	$ 341,086
Net income (loss) per common share, basic and diluted (in dollars per share)	$ (0.06)		$ (0.40)	$ 0.04
Unrealized net holding gains arising during the period	$ 2,910,478	$ 1,327,537	$ 1,247,443	$ 2,573,315
Reclassification adjustment for (gains) losses included in net loss	(17,693)	14,528	(59,689)	14,528
Other comprehensive income	2,892,785	1,342,065	1,187,754	2,587,843
Comprehensive income (loss)	$ 2,466,814	$ 1,307,283	$ (1,941,989)	$ 2,928,929

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - 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)						56,539
Common stock issued, $7 per share						$ 5,654	390,119			395,773
Costs associated with common stock issued							(237,870)			(237,870)
Other comprehensive income								2,587,843		2,587,843
Net income (loss)									341,086	341,086
Balance (in shares) at Jun. 30, 2019						7,707,090
Balance at Jun. 30, 2019						$ 770,710	23,141,692	1,502,174	(9,695,078)	15,719,498
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
Common stock issued, $7 per share (in shares)						13,682
Common stock issued, $7 per share						$ 1,368	94,406			95,774
Costs associated with common stock issued							(94,761)			(94,761)
Other comprehensive income								1,342,065		1,342,065
Net income (loss)									(34,782)	(34,782)
Balance (in shares) at Jun. 30, 2019						7,707,090
Balance at Jun. 30, 2019						$ 770,710	23,141,692	1,502,174	(9,695,078)	15,719,498
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)						7,225
Common stock issued, $7 per share						$ 723	49,852			50,575
Costs associated with common stock issued							(99,011)			(99,011)
Other comprehensive income								1,187,754		1,187,754
Net income (loss)									(3,129,743)	(3,129,743)
Balance (in shares) at Jun. 30, 2020						7,741,229
Balance at Jun. 30, 2020						$ 774,124	23,161,098	3,517,249	(12,566,699)	14,885,772
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
Common stock issued, $7 per share (in shares)						529
Common stock issued, $7 per share						$ 53	3,650			3,703
Costs associated with common stock issued							(47,446)			(47,446)
Other comprehensive income								2,892,785		2,892,785
Net income (loss)									(426,372)	(426,372)
Balance (in shares) at Jun. 30, 2020						7,741,229
Balance at Jun. 30, 2020						$ 774,124	$ 23,161,098	$ 3,517,249	$ (12,566,699)	$ 14,885,772

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2020	Jun. 30, 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		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash Flows from operating activities:
Net income (loss)	$ (426,372)	$ (34,782)	$ (3,129,743)	$ 341,086
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			5,119	5,118
Net realized losses on the sale of securities	5,925	14,528	224,878	14,528
Unrealized (gains) losses on equity securities			497,194	(845,817)	$ (1,098,760)
Change in fair value of funds withheld embedded derivative			637,033
Amortization of investment securities, net			75,873	17,055
Deferred acquisition costs capitalized			(511,691)	(176,056)
Deferred acquisition costs amortized			747,373	180,727
Value of business acquired amortized	5,075	5,076	10,151	10,152
Interest credited on deposit type contracts			479,157	328,583
(Increase) decrease in operating assets:
Change in funds withheld			(170,516)
Investment income due and accrued			(48,964)	1,237
Reinsurance related assets			(50,475)	(19,513)
Other assets			196,689	(10,830)
Increase (decrease) in operating liabilities:
Policyowner benefit reserves			1,649,882	1,474,338
Dividend accumulation			(8,748)	(8,180)
Advance premiums			2,018	16,590
Other liabilities			5,278	(14,533)
Accounts payable and accrued expenses			25,453	(143,134)
Net cash provided by operating activities			635,961	1,171,351
Cash Flows from investing activities:
Purchase of fixed income investments			(2,028,449)	(984,288)
Purchase of equity investments			(4,186,434)	(179,039)
Purchase of mortgage investments			(962,632)
Proceeds from fixed income sales and repayments			1,619,318	393,163
Proceeds from equity sales and repayments			2,985,691	268,101
Transferred to funds withheld			(2,334,966)
Interest on policy loans			(5,199)	(723)
Increase (decrease) in policy loans			(29,959)	179
Net cash used in investing activities			(4,942,630)	(502,607)
Cash Flows from financing activities:
Receipts on deposit-type contracts			5,019,037	1,921,482
Withdrawals on deposit-type contracts			(965,923)	(882,725)
Proceeds from FHLB advance			1,000,000
Proceeds received from issuance of common stock, net of costs of issuance			(48,437)	157,903
Net cash provided by financing activities			5,004,677	1,196,660
Net increase in cash and cash equivalents			698,008	1,865,404
Cash and cash equivalents:
Beginning			6,678,805	2,077,646	2,077,646
Ending	$ 7,376,813	$ 3,943,050	7,376,813	3,943,050	$ 6,678,805
Supplemental Disclosure of Non-Cash Information
Funds withheld assumed deposits on deposit-type contracts			46,763,118
Funds withheld assumed withdrawals on deposit-type contracts			44,995
Commissions and expense allowances deducted from funds withheld			$ 6,608,834

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	6 Months Ended
	Jun. 30, 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. USAC 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 six June 30, 2020 not December 31, 2020 not 10 December 31, 2019. Principles of consolidation Area of Operation: Reclassifications no Common stock and income (loss) per share: $0.10 20,000,000 June 30, 2020, December 31, 2019, 7,741,229 7,734,004 Earnings (loss) per share attributable to USAC's common stockholders were computed based on the net loss and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the quarters ended June 30, 2020 2019 7,740,876 7,697,969 six June 30, 2020 2019 7,737,418 7,673,690 six June 30, 2020 2019. New accounting pronouncements 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, Fair Value Measurement This guidance is part of the FASB's disclosure framework project and eliminates certain disclosure requirements for fair value measurement, requires entities to disclose new information and modifies existing disclosure requirements. This guidance is effective for fiscal years beginning after December 15, 2019, not All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not The Company's significant account policies are discussed in Note 1 2019 Funds Withheld under Coinsurance Agreement : 2020. Embedded Derivatives : 815, not Mortgage Loans on Real Estate : not 90 A mortgage loan is considered to be impaired when, based on the current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the mortgage agreement. Valuation allowances on mortgage loans are established based upon inherent losses expected by management to be realized in connection with future dispositions or settlement of mortgage loans, including foreclosures. The Company establishes valuation allowances for estimated impairments on an individual loan basis as of the balance sheet date. Such valuation allowances are based on the excess carrying value of the loan over the present value of expected future cash flows discounted at the loan's original effective interest rate, the value of the loan's collateral if the loan is in the process of foreclosure or is otherwise collateral-dependent, or the loan's market value if the loan is being sold. These evaluations are revised as conditions change and new information becomes available. In addition to historical experience, management considers qualitative factors that include the impact of changing macro-economic conditions, which may not Any interest accrued or received on the net carrying amount of the impaired loan will be included in investment income or applied to the principal of the loan, depending on the assessment of the collectibility of the loan. Mortgage loans deemed to be uncollectible or that have been foreclosed are charged off against the valuation allowances and subsequent recoveries, if any, are credited to the valuation allowances. Changes in valuation allowances are reported in investment related gains (losses), net on the consolidated statements of income (loss). The Company evaluates whether a mortgage loan modification represents a troubled debt restructuring. In a troubled debt restructuring, the Company grants concessions related to the borrower's financial difficulties. Generally, the types of concessions include: reduction of the contractual interest rate, extension of the maturity date at an interest rate lower than current market interest rates and/or a reduction of accrued interest. The Company considers the amount, timing and extent of the concession granted in determining any impairment or changes in the specific valuation allowance recorded in connection with the troubled debt restructuring. Through the continuous monitoring process, the Company may may not may

Note 2 - Investments

Note 2 - Investments	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Investment Holdings [Text Block]	Note 2 . Investments Fixed Maturities The amortized cost and fair value of available for sale investments as of June 30, 2020 December 31, 2019 June 30, 2020 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 573,039 $ 101,726 $ - $ 674,765 Corporate bonds 19,240,984 2,816,255 (182,565 ) 21,874,674 Municipal bonds 5,959,395 872,610 - 6,832,005 Redeemable preferred stock 3,213,953 4,224 (159,884 ) 3,058,293 Mortgage backed and asset backed securities 3,647,890 81,386 (16,492 ) 3,712,784 Total available for sale $ 32,635,261 $ 3,876,201 $ (358,941 ) $ 36,152,521 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 available for sale $ 30,823,397 $ 2,353,766 $ (24,271 ) $ 33,152,892 The amortized cost and fair value of debt securities as of June 30, 2020 December 31, 2019, may may As of June 30, 2020 As of December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ - $ - $ 99,987 $ 100,239 After one year through five years 1,623,810 1,726,647 1,424,337 1,471,552 After five years through ten years 3,087,409 3,570,764 3,286,937 3,574,191 More than 10 years 21,062,199 24,084,033 20,743,310 22,626,113 Redeemable preferred stocks 3,213,953 3,058,293 2,097,206 2,133,893 Mortgage backed and asset backed securities 3,647,890 3,712,784 3,171,620 3,246,904 Total amortized cost and fair value $ 32,635,261 $ 36,152,521 $ 30,823,397 $ 33,152,892 Proceeds from the sale of securities, maturities, and asset paydowns for the first six 2020 2019 $4,605,009 $661,264 Six Months Ended June 30, (unaudited) 2020 2019 Gross gains $ 64,907 $ 3,951 Gross losses (289,785 ) (18,479 ) Net security losses $ (224,878 ) $ (14,528 ) Proceeds from the sale of securities, maturities, and asset paydowns for the three June 30, 2020 2019 $1,115,733 $608,682 Three Months Ended June 30, (unaudited) 2020 2019 Gross gains $ 20,612 $ 3,951 Gross losses (26,537 ) (18,479 ) Net security losses $ (5,925 ) $ (14,528 ) Gross unrealized losses by duration for available for sale securities are summarized as follows: Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss June 30, 2020 (unaudited) Available for sale: Fixed maturities: Corporate bonds $ 1,731,912 $ (182,565 ) $ - $ - $ 1,731,912 $ (182,565 ) Redeemable preferred stock 2,779,058 (159,884 ) - - 2,779,058 (159,884 ) Mortgage backed and asset backed securities 457,526 (16,492 ) - - 457,526 (16,492 ) Total fixed maturities $ 4,968,496 $ (358,941 ) $ - $ - $ 4,968,496 $ (358,941 ) 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 ) Unrealized losses occur from market price declines that may The total number of available for sale securities in the investment portfolio in an unrealized loss position as of June 30, 2020 24, $358,941 24 8 7 9 no June 30, 2020 December 31, 2019. Mortgage loans on Real Estate The Company's mortgage loans by property type as of June 30, 2020 December 31, 2019 June 30,2020 December 31, 2019 (unaudited) Commerical mortgage loans by property type Student housing $ 786,736 $ - Multi-family 175,954 - Total commerical mortgages $ 962,690 $ - The Company's mortgage loans by loan-to-value ratio as of June 30, 2020 December 31, 2019 June 30,2020 December 31, 2019 (unaudited) Loan to value ratio Over 20 to 30% $ 175,954 $ - Over 10 to 20% 786,736 - Total $ 962,690 $ - The Company's mortgage loans by maturity date as of June 30, 2020 December 31, 2019 June 30,2020 December 31, 2019 (unaudited) Maturity Date One year or less $ 962,690 $ - Investment Income , Net of Expenses The components of net investment income for the six June 30, 2020 2019 Six Months Ended June 30, 2020 2019 (unaudited) Fixed maturities $ 617,418 $ 585,033 Mortgages 5,851 - Equity securities 289,450 285,076 Funds withheld 364,033 - Cash and cash equivalents 11,376 13,978 1,288,128 884,087 Less investment expenses (32,117 ) (23,049 ) $ 1,256,011 $ 861,038 The components of net investment income for the three June 30, 2020 2019 Three Months Ended June 30, 2020 2019 (unaudited) Fixed maturities $ 309,943 $ 282,739 Mortgages 5,851 $ - Equity securities 139,261 170,491 Funds withheld 304,778 - Cash and cash equivalents 2,064 9,779 761,897 463,009 Less investment expenses (20,594 ) (11,903 ) $ 741,303 $ 451,106

Note 3 - Derivative Instruments

Note 3 - Derivative Instruments	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 3 . Derivative Instruments Accounting for Derivative Instruments See Note 1 Types of Derivatives used by the Company The Company's derivatives consists solely of embedded derivatives on funds withheld on coinsurance assets. Summary of Derivative Positions The fair value of the Company's derivative financial instruments on the consolidated balance sheets as of June 30, 2020 June 30, 2020 December 31, 2019 (unaudited) Derivative Derivative Balance Asset Liability Asset Liability Reported In Derivatives: Embedded derivatives: Funds withheld embedded derivative $ - $ 637,033 $ - $ - Funds withheld The following table shows the change in the fair value of the derivative financial instruments in the consolidated statements of comprehensive income: Period Ending Period Ending Balance June 30,2020 June 30,2019 Reported In (unaudited) (unaudited) Derivatives: Embedded derivatives: Change in funds withheld embedded derivative $ (637,033 ) $ - Net investment gains (losses)

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
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 Equity securities: third Embedded derivative: not 3 no June 30, 2020. The following table presents the amounts of assets measured at fair value on a recurring basis as of June 30, 2020 December 31, 2019: June 30, 2020 Total Level 1 Level 2 Level 3 (unaudited) Fixed maturities: US Treasury securities $ 674,765 $ 674,765 $ - $ - Corporate bonds 21,874,674 - 21,683,074 191,600 Municipal bonds 6,832,005 - 6,832,005 - Redeemable preferred stock 3,058,293 - 3,058,293 - Mortgage backed and asset backed securities 3,712,784 - 3,712,784 - Total fixed maturities 36,152,521 674,765 35,286,156 191,600 Equities: Common stock 7,162,008 7,071,608 90,400 - Preferred stock 1,979,492 - 1,979,492 - Total equities 9,141,500 7,071,608 2,069,892 - Funds withheld embedded derivative (637,033 ) - - (637,033 ) Total $ 44,656,988 $ 7,746,373 $ 37,356,048 $ (445,433 ) 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 reconciliations for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3 For the Six Months Ended June 30, 2020 Corporate Funds Bonds Withheld Fair value, beginnig of period $ 191,600 $ - Investment related gains (losses), net - (637,033 ) Fair value, end of period $ 191,600 $ (637,033 ) For the Three Months Ended June 30, 2020 Corporate Funds Bonds Withheld Fair value, beginnig of period $ 191,600 $ - Investment related gains (losses), net - (637,033 ) Fair value, end of period $ 191,600 $ (637,033 ) 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: Funds withheld: not may 3 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 June 30, 2020 December 31, 2019 June 30, 2020 (unaudited) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 7,376,813 $ 7,376,813 $ 7,376,813 $ - $ - Investment income due and accrued 370,326 370,326 - 370,326 - Funds withheld 41,931,524 41,294,491 - - 41,294,491 Policy loans 154,088 154,088 - - 154,088 Total Financial Assets (excluding available for sale investments) $ 49,832,751 $ 49,195,718 $ 7,376,813 $ 370,326 $ 41,448,579 Financial Liabilities: Federal Home Loan Bank advance $ 2,000,000 $ 2,000,000 $ - $ - $ 2,000,000 Policyholder deposits in deposit-type contracts 70,647,008 73,033,465 - - 73,033,465 Total Financial Liabilities $ 72,647,008 $ 75,033,465 $ - $ - $ 75,033,465 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	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5 . Income Tax Provision No June 30, 2020 2019 The net operating loss carryforwards for the Company are $12,965,591 $12,567,367 June 30, 2020 December 31, 2019, $431,158 June 30, 2020 December 31, 2019.

Note 6 - Subsequent Events

Note 6 - Subsequent Events	6 Months Ended
	Jun. 30, 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 August 12, 2020,

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 six June 30, 2020 not December 31, 2020 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 income (loss) per share: $0.10 20,000,000 June 30, 2020, December 31, 2019, 7,741,229 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 June 30, 2020 2019 7,740,876 7,697,969 six June 30, 2020 2019 7,737,418 7,673,690 six June 30, 2020 2019.
New Accounting Pronouncements, Policy [Policy Text Block]	New accounting pronouncements 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, Fair Value Measurement This guidance is part of the FASB's disclosure framework project and eliminates certain disclosure requirements for fair value measurement, requires entities to disclose new information and modifies existing disclosure requirements. This guidance is effective for fiscal years beginning after December 15, 2019, not All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not The Company's significant account policies are discussed in Note 1 2019 Funds Withheld under Coinsurance Agreement : 2020. Embedded Derivatives : 815, not Mortgage Loans on Real Estate : not 90 A mortgage loan is considered to be impaired when, based on the current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the mortgage agreement. Valuation allowances on mortgage loans are established based upon inherent losses expected by management to be realized in connection with future dispositions or settlement of mortgage loans, including foreclosures. The Company establishes valuation allowances for estimated impairments on an individual loan basis as of the balance sheet date. Such valuation allowances are based on the excess carrying value of the loan over the present value of expected future cash flows discounted at the loan's original effective interest rate, the value of the loan's collateral if the loan is in the process of foreclosure or is otherwise collateral-dependent, or the loan's market value if the loan is being sold. These evaluations are revised as conditions change and new information becomes available. In addition to historical experience, management considers qualitative factors that include the impact of changing macro-economic conditions, which may not Any interest accrued or received on the net carrying amount of the impaired loan will be included in investment income or applied to the principal of the loan, depending on the assessment of the collectability of the loan. Mortgage loans deemed to be uncollectible or that have been foreclosed are charged off against the valuation allowances and subsequent recoveries, if any, are credited to the valuation allowances. Changes in valuation allowances are reported in investment related gains (losses), net on the consolidated statements of income (loss). The Company evaluates whether a mortgage loan modification represents a troubled debt restructuring. In a troubled debt restructuring, the Company grants concessions related to the borrower's financial difficulties. Generally, the types of concessions include: reduction of the contractual interest rate, extension of the maturity date at an interest rate lower than current market interest rates and/or a reduction of accrued interest. The Company considers the amount, timing and extent of the concession granted in determining any impairment or changes in the specific valuation allowance recorded in connection with the troubled debt restructuring. Through the continuous monitoring process, the Company may may not may

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Available-for-sale Securities [Table Text Block]	June 30, 2020 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 573,039 $ 101,726 $ - $ 674,765 Corporate bonds 19,240,984 2,816,255 (182,565 ) 21,874,674 Municipal bonds 5,959,395 872,610 - 6,832,005 Redeemable preferred stock 3,213,953 4,224 (159,884 ) 3,058,293 Mortgage backed and asset backed securities 3,647,890 81,386 (16,492 ) 3,712,784 Total available for sale $ 32,635,261 $ 3,876,201 $ (358,941 ) $ 36,152,521 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 available for sale $ 30,823,397 $ 2,353,766 $ (24,271 ) $ 33,152,892
Investments Classified by Contractual Maturity Date [Table Text Block]	As of June 30, 2020 As of December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ - $ - $ 99,987 $ 100,239 After one year through five years 1,623,810 1,726,647 1,424,337 1,471,552 After five years through ten years 3,087,409 3,570,764 3,286,937 3,574,191 More than 10 years 21,062,199 24,084,033 20,743,310 22,626,113 Redeemable preferred stocks 3,213,953 3,058,293 2,097,206 2,133,893 Mortgage backed and asset backed securities 3,647,890 3,712,784 3,171,620 3,246,904 Total amortized cost and fair value $ 32,635,261 $ 36,152,521 $ 30,823,397 $ 33,152,892
Realized Gain (Loss) on Investments [Table Text Block]	Six Months Ended June 30, (unaudited) 2020 2019 Gross gains $ 64,907 $ 3,951 Gross losses (289,785 ) (18,479 ) Net security losses $ (224,878 ) $ (14,528 ) Three Months Ended June 30, (unaudited) 2020 2019 Gross gains $ 20,612 $ 3,951 Gross losses (26,537 ) (18,479 ) Net security losses $ (5,925 ) $ (14,528 )
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]	Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss June 30, 2020 (unaudited) Available for sale: Fixed maturities: Corporate bonds $ 1,731,912 $ (182,565 ) $ - $ - $ 1,731,912 $ (182,565 ) Redeemable preferred stock 2,779,058 (159,884 ) - - 2,779,058 (159,884 ) Mortgage backed and asset backed securities 457,526 (16,492 ) - - 457,526 (16,492 ) Total fixed maturities $ 4,968,496 $ (358,941 ) $ - $ - $ 4,968,496 $ (358,941 ) 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 )
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30,2020 December 31, 2019 (unaudited) Commerical mortgage loans by property type Student housing $ 786,736 $ - Multi-family 175,954 - Total commerical mortgages $ 962,690 $ -
Schedule of Mortage Loans by Loan-to-Value Ratio [Table Text Block]	June 30,2020 December 31, 2019 (unaudited) Loan to value ratio Over 20 to 30% $ 175,954 $ - Over 10 to 20% 786,736 - Total $ 962,690 $ -
Schedule of Mortgage Loans by Maturity Date [Table Text Block]	June 30,2020 December 31, 2019 (unaudited) Maturity Date One year or less $ 962,690 $ -
Investment Income [Table Text Block]	Six Months Ended June 30, 2020 2019 (unaudited) Fixed maturities $ 617,418 $ 585,033 Mortgages 5,851 - Equity securities 289,450 285,076 Funds withheld 364,033 - Cash and cash equivalents 11,376 13,978 1,288,128 884,087 Less investment expenses (32,117 ) (23,049 ) $ 1,256,011 $ 861,038 Three Months Ended June 30, 2020 2019 (unaudited) Fixed maturities $ 309,943 $ 282,739 Mortgages 5,851 $ - Equity securities 139,261 170,491 Funds withheld 304,778 - Cash and cash equivalents 2,064 9,779 761,897 463,009 Less investment expenses (20,594 ) (11,903 ) $ 741,303 $ 451,106

Note 3 - Derivative Instrumen_2

Note 3 - Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block]	June 30, 2020 December 31, 2019 (unaudited) Derivative Derivative Balance Asset Liability Asset Liability Reported In Derivatives: Embedded derivatives: Funds withheld embedded derivative $ - $ 637,033 $ - $ - Funds withheld Period Ending Period Ending Balance June 30,2020 June 30,2019 Reported In (unaudited) (unaudited) Derivatives: Embedded derivatives: Change in funds withheld embedded derivative $ (637,033 ) $ - Net investment gains (losses)

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	June 30, 2020 Total Level 1 Level 2 Level 3 (unaudited) Fixed maturities: US Treasury securities $ 674,765 $ 674,765 $ - $ - Corporate bonds 21,874,674 - 21,683,074 191,600 Municipal bonds 6,832,005 - 6,832,005 - Redeemable preferred stock 3,058,293 - 3,058,293 - Mortgage backed and asset backed securities 3,712,784 - 3,712,784 - Total fixed maturities 36,152,521 674,765 35,286,156 191,600 Equities: Common stock 7,162,008 7,071,608 90,400 - Preferred stock 1,979,492 - 1,979,492 - Total equities 9,141,500 7,071,608 2,069,892 - Funds withheld embedded derivative (637,033 ) - - (637,033 ) Total $ 44,656,988 $ 7,746,373 $ 37,356,048 $ (445,433 ) 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, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	For the Six Months Ended June 30, 2020 Corporate Funds Bonds Withheld Fair value, beginnig of period $ 191,600 $ - Investment related gains (losses), net - (637,033 ) Fair value, end of period $ 191,600 $ (637,033 ) For the Three Months Ended June 30, 2020 Corporate Funds Bonds Withheld Fair value, beginnig of period $ 191,600 $ - Investment related gains (losses), net - (637,033 ) Fair value, end of period $ 191,600 $ (637,033 )
Fair Value, by Balance Sheet Grouping [Table Text Block]	June 30, 2020 (unaudited) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 7,376,813 $ 7,376,813 $ 7,376,813 $ - $ - Investment income due and accrued 370,326 370,326 - 370,326 - Funds withheld 41,931,524 41,294,491 - - 41,294,491 Policy loans 154,088 154,088 - - 154,088 Total Financial Assets (excluding available for sale investments) $ 49,832,751 $ 49,195,718 $ 7,376,813 $ 370,326 $ 41,448,579 Financial Liabilities: Federal Home Loan Bank advance $ 2,000,000 $ 2,000,000 $ - $ - $ 2,000,000 Policyholder deposits in deposit-type contracts 70,647,008 73,033,465 - - 73,033,465 Total Financial Liabilities $ 72,647,008 $ 75,033,465 $ - $ - $ 75,033,465 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		6 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)shares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Number of Wholly-Owned Operating Subsidiaries	5		5
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.10		$ 0.10		$ 0.10
Common Stock, Shares Authorized (in shares) | shares	20,000,000		20,000,000		20,000,000
Common Stock, Shares, Issued, Total (in shares) | shares	7,741,229		7,741,229		7,734,004
Weighted Average Number of Shares Outstanding, Basic and Diluted (in shares) | shares	7,740,876	7,697,969	7,737,418	7,673,690
Equity Securities, FV-NI					$ 10,987,539
Equity Securities, FV-NI, Unrealized Gain (Loss), Total			$ (497,194)	$ 845,817	1,098,760
Stockholders' Equity Attributable to Parent, Ending Balance	$ 14,885,772	$ 15,719,498	$ 14,885,772	15,719,498	16,876,197	$ 12,463,102	$ 14,411,202		$ 12,632,666
Equity Securities, FV-NI, Gain (Loss), Total					$ 1,100,000
Common Stock, Shares, Outstanding, Ending Balance (in shares) | shares	7,741,229		7,741,229		7,734,004
AOCI Attributable to Parent [Member]
Stockholders' Equity Attributable to Parent, Ending Balance	$ 3,517,249	1,502,174	$ 3,517,249	1,502,174	$ 2,329,495	624,464	160,109		(2,184,429)
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent, Ending Balance	$ (12,566,699)	$ (9,695,078)	$ (12,566,699)	$ (9,695,078)	$ (9,436,956)	$ (12,140,327)	$ (9,660,296)		(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		6 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Proceeds from Sale, Maturity and Collection of Investments, Total	$ 1,115,733	$ 608,682	$ 4,605,009	$ 661,264
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	24		24
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax, Total	$ 358,941		$ 358,941
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	8		8
Collateralized Mortgage Backed Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	7		7
Preferred Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total	9		9

Note 2 - Investments - Amortize

Note 2 - Investments - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Investments (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Debt securities, amortized cost	$ 32,635,261	$ 30,823,397
Gross Unrealized Gains	3,876,201	2,353,766
Gross Unrealized Losses	(358,941)	(24,271)
Investments in available-for-sale securities, at fair value	36,152,521	33,152,892
Fixed Maturities [Member]
Debt securities, amortized cost	32,635,261	30,823,397
Investments in available-for-sale securities, at fair value	36,152,521	33,152,892
US Treasury Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	573,039	608,477
Gross Unrealized Gains	101,726	24,162
Gross Unrealized Losses
Investments in available-for-sale securities, at fair value	674,765	632,639
Corporate Debt Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	19,240,984	18,407,211
Gross Unrealized Gains	2,816,255	1,697,265
Gross Unrealized Losses	(182,565)	(20,079)
Investments in available-for-sale securities, at fair value	21,874,674	20,084,397
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	5,959,395	6,538,883
Gross Unrealized Gains	872,610	518,059
Gross Unrealized Losses		(1,883)
Investments in available-for-sale securities, at fair value	6,832,005	7,055,059
Redeemable Preferred Stock [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	3,213,953	2,097,206
Gross Unrealized Gains	4,224	36,687
Gross Unrealized Losses	(159,884)
Investments in available-for-sale securities, at fair value	3,058,293	2,133,893
Collateralized Mortgage Backed Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost	3,647,890	3,171,620
Gross Unrealized Gains	81,386	77,593
Gross Unrealized Losses	(16,492)	(2,309)
Investments in available-for-sale securities, at fair value	$ 3,712,784	$ 3,246,904

Note 2 - Investments - Amorti_2

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Debt securities, amortized cost	$ 32,635,261	$ 30,823,397
Debt securities, fair value	36,152,521	33,152,892
Fixed Maturities [Member]
One year or less, amortized cost		99,987
One year or less, fair value		100,239
After one year through five years, amortized cost	1,623,810	1,424,337
After one year through five years, fair value	1,726,647	1,471,552
After five years through ten years, amortized cost	3,087,409	3,286,937
After five years through ten years, fair value	3,570,764	3,574,191
More than 10 years, amortized cost	21,062,199	20,743,310
More than 10 years, fair value	24,084,033	22,626,113
Debt securities, amortized cost	32,635,261	30,823,397
Debt securities, fair value	36,152,521	33,152,892
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Debt securities, amortized cost	3,213,953	2,097,206
Debt securities, fair value	3,058,293	2,133,893
Debt securities, amortized cost	3,213,953	2,097,206
Debt securities, fair value	3,058,293	2,133,893
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Debt securities, amortized cost	3,647,890	3,171,620
Debt securities, fair value	3,712,784	3,246,904
Debt securities, amortized cost	3,647,890	3,171,620
Debt securities, fair value	$ 3,712,784	$ 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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Gross gains	$ 20,612	$ 3,951	$ 64,907	$ 3,951
Gross losses	(26,537)	(18,479)	(289,785)	(18,479)
Net security losses	$ (5,925)	$ (14,528)	$ (224,878)	$ (14,528)

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - Fixed Maturities [Member] - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Available-for-sale securities, less than 12 months, fair value	$ 4,968,496	$ 1,014,494
Available-for-sale securities, less than 12 months, unrealized loss	(358,941)	(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	4,968,496	1,311,070
Available-for-sale securities, unrealized loss	(358,941)	(24,271)
Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	1,731,912	967,848
Available-for-sale securities, less than 12 months, unrealized loss	(182,565)	(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	1,731,912	967,848
Available-for-sale securities, unrealized loss	(182,565)	(20,079)
Redeemable Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	2,779,058
Available-for-sale securities, less than 12 months, unrealized loss	(159,884)
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	2,779,058
Available-for-sale securities, unrealized loss	(159,884)
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value		46,646
Available-for-sale securities, less than 12 months, unrealized loss		(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		46,646
Available-for-sale securities, unrealized loss		(1,883)
Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	457,526
Available-for-sale securities, less than 12 months, unrealized loss	(16,492)
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	457,526	296,576
Available-for-sale securities, unrealized loss	$ (16,492)	$ (2,309)

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans by Property Type (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Total commerical mortgages	$ 962,690
Student Housing [Member]
Total commerical mortgages	786,736
Multifamily [Member]
Total commerical mortgages	$ 175,954

Note 2 - Investments - Mortga_2

Note 2 - Investments - Mortgage Loans by Loan-to-Value Ratio (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Total commerical mortgages	$ 962,690
Debt-to-Value Ratio, 20 to 30 Percent [Member]
Total commerical mortgages	175,954
Debt-to-Value Ratio, 10 to 20 Percent [Member]
Total commerical mortgages	$ 786,736

Note 2 - Investments - Mortga_3

Note 2 - Investments - Mortgage Loans by Maturity Date (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
One year or less	$ 962,690

Note 2 - Investments - Componen

Note 2 - Investments - Components of Net Investment Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investment income	$ 761,897	$ 463,009	$ 1,288,128	$ 884,087
Less investment expenses	(20,594)	(11,903)	(32,117)	(23,049)
Investment income, net	741,303	451,106	1,256,011	861,038
Fixed Maturities [Member]
Investment income	309,943	282,739	617,418	585,033
Mortgages [Member]
Investment income	5,851		5,851
Equity Securities [Member]
Investment income	139,261	170,491	289,450	285,076
Funds Withheld on Coinsurance Assets [Member]
Investment income	304,778		364,033
Cash and Cash Equivalents [Member]
Investment income	$ 2,064	$ 9,779	$ 11,376	$ 13,978

Note 3 - Derivative Instrumen_3

Note 3 - Derivative Instruments - Fair Value of Derivative Financial Instruments (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Funds withheld embedded derivative, asset
Funds withheld embedded derivative, liability	637,033
Change in funds withheld embedded derivative	$ (637,033)

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details Textual) $ in Thousands	Jun. 30, 2020USD ($)
Derivative Credit Risk Valuation Adjustment, Derivative Liabilities	$ 0

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Investments in available-for-sale securities, at fair value	$ 36,152,521	$ 33,152,892
Funds withheld embedded derivative	(637,033)
Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	44,656,988	43,294,395
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	7,746,373	9,802,333
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	37,356,048	33,300,462
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value		191,600
Total including embeded derivative	(445,433)
Fixed Maturities [Member]
Investments in available-for-sale securities, at fair value	36,152,521	33,152,892
Fixed Maturities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	36,152,521	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	674,765	632,639
Fixed Maturities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	35,286,156	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	674,765	632,639
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	674,765	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	674,765	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	21,874,674	20,084,397
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	21,874,674	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	21,683,074	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	6,832,005	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	6,832,005	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	6,832,005	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	3,058,293	2,133,893
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	3,058,293	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	3,058,293	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	3,712,784	3,246,904
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	3,712,784	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	3,712,784	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	9,141,500	10,141,503
Equity Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	9,141,500	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	7,071,608	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	2,069,892	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] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	7,162,008	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	7,071,608	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	90,400	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] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	1,979,492	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	1,979,492	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
Funds Withheld on Coinsurance Assets [Member] | Fair Value, Recurring [Member]
Funds withheld embedded derivative	(637,033)
Funds Withheld on Coinsurance Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Funds withheld embedded derivative
Funds Withheld on Coinsurance Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Funds withheld embedded derivative
Funds Withheld on Coinsurance Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Funds withheld embedded derivative	$ (637,033)

Note 4 - Fair Value Measureme_5

Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Corporate Debt Securities [Member]
Fair value, corporate bonds, beginnig of period	$ 191,600	$ 191,600
Investment related gains (losses), corporate bonds, net
Fair value, corporate bonds, end of period	191,600	191,600
Funds Withheld on Coinsurance Assets [Member]
Fair value, funds withheld, beginnig of period
Investment related gains (losses), funds withheld, net	(637,033)	(637,033)
Fair value, funds withheld, end of period	$ (637,033)	$ (637,033)

Note 4 - Fair Value Measureme_6

Note 4 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Assets and Liabilities (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Reported Value Measurement [Member]
Cash and cash equivalents	$ 7,376,813	$ 6,678,805
Investment income due and accrued	370,326	321,362
Funds withheld	41,931,524
Policy loans	154,088	118,930
Total Financial Assets (excluding available for sale investments)	49,832,751	7,119,097
Federal Home Loan Bank advance	2,000,000	1,000,000
Policyholder deposits in deposit-type contracts	70,647,008	19,396,614
Total Financial Liabilities	72,647,008	20,396,614
Federal Home Loan Bank advance	2,000,000	1,000,000
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	7,376,813	6,678,805
Investment income due and accrued	370,326	321,362
Funds withheld	41,294,491
Policy loans	154,088	118,930
Total Financial Assets (excluding available for sale investments)	49,195,718	7,119,097
Federal Home Loan Bank advance	2,000,000	1,000,000
Policyholder deposits in deposit-type contracts	73,033,465	19,186,265
Total Financial Liabilities	75,033,465	20,186,265
Federal Home Loan Bank advance	2,000,000	1,000,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	7,376,813	6,678,805
Investment income due and accrued
Funds withheld
Policy loans
Total Financial Assets (excluding available for sale investments)	7,376,813	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	370,326	321,362
Funds withheld
Policy loans
Total Financial Assets (excluding available for sale investments)	370,326	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
Funds withheld	41,294,491
Policy loans	154,088	118,930
Total Financial Assets (excluding available for sale investments)	41,448,579	118,930
Federal Home Loan Bank advance	2,000,000	1,000,000
Policyholder deposits in deposit-type contracts	73,033,465	19,186,265
Total Financial Liabilities	75,033,465	20,186,265
Federal Home Loan Bank advance	$ 2,000,000	$ 1,000,000

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Income Tax Expense (Benefit), Total	$ 0	$ 0
Operating Loss Carryforwards, Total	12,965,591		$ 12,567,367
Deferred Income Tax Assets, Net, Total	$ 431,158		$ 431,158