US Alliance 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 26, 2021
Document Information [Line Items]
Entity Central Index Key	0001463913
Entity Registrant Name	US Alliance Corp
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	000-55627
Entity Incorporation, State or Country Code	KS
Entity Tax Identification Number	26-4824142
Entity Address, Address Line One	1303 SW First American Pl, Suite 200
Entity Address, City or Town	Topeka
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66604
City Area Code	785
Local Phone Number	228-0200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		7,745,404

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Assets
Debt securities	$ 37,891,596	$ 37,677,578
Mortgage loans on real estate	3,775,432	3,166,136
Funds withheld under coinsurance agreement, at fair value	48,074,917	46,830,076
Policy loans	178,545	163,725
Real estate, net of depreciation	1,410,493	1,415,743
Total investments	101,053,623	98,474,832
Cash and cash equivalents	7,678,829	4,320,759
Investment income due and accrued	632,825	423,036
Reinsurance related assets	0	165,082
Deferred acquisition costs, net	6,533,590	7,105,890
Value of business acquired, net	2,633,918	2,703,233
Property, equipment and software, net	95,194	37,818
Goodwill	277,542	277,542
Deferred tax asset, net of valuation allowance	243,257	243,257
Other assets	662,049	1,635,647
Total assets	119,810,827	115,387,096
Liabilities:
Deposit-type contracts	75,107,753	72,082,207
Policyholder benefit reserves	24,451,244	21,158,568
Dividend accumulation	118,943	116,127
Advance premiums	127,046	102,178
Total policy liabilities	99,804,986	93,459,080
Accounts payable and accrued expenses	151,668	1,507,756
Federal Home Loan Bank advance	(2,000,000)	(2,000,000)
Other liabilities	839,290	15,469
Total liabilities	102,795,944	96,982,305
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,745,404 and 7,741,487 shares as of September 30, 2021 and December 31, 2020, respectively	774,541	774,150
Additional paid-in capital	22,964,592	23,063,273
Accumulated deficit	(9,185,872)	(8,997,507)
Accumulated other comprehensive income	2,461,622	3,564,875
Total shareholders' equity	17,014,883	18,404,791
Total liabilities and shareholders' equity	119,810,827	115,387,096
Fixed Maturities [Member]
Assets
Debt securities	37,891,596	37,677,578
Equity Securities [Member]
Assets
Debt securities	$ 9,722,640	$ 9,221,574

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Available for sale securities, amortized cost	$ 35,106,990	$ 33,784,518
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)	7,745,404	7,741,487
Common stock, shares outstanding (in shares)	7,745,404	7,741,487
Fixed Maturities [Member]
Available for sale securities, amortized cost	$ 35,106,990	$ 33,784,518

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Premium income	$ 2,860,039	$ 2,547,843	$ 9,212,137	$ 7,631,621
Net investment income	1,511,555	1,066,158	4,143,127	2,322,169
Net investment gains (losses)	(276,532)	922,020	(202,742)	(437,085)
Other income	80,497	20,524	237,901	48,232
Total income	4,175,559	4,556,545	13,390,423	9,564,937
Expenses:
Death claims	600,819	394,175	1,702,615	1,316,831
Policyholder benefits	1,334,405	1,301,716	4,783,193	3,949,421
Increase in policyholder reserves	977,997	962,083	3,310,238	2,574,776
Commissions, net of deferrals	169,075	164,687	542,536	536,257
Amortization of deferred acquisition costs	361,833	9,961	916,698	757,333
Amortization of value of business acquired	23,105	5,076	69,315	15,227
Salaries & benefits	352,421	263,541	890,615	780,626
Other operating expenses	422,753	383,151	1,363,578	1,692,054
Total expense	4,242,408	3,484,390	13,578,788	11,622,525
Net income (loss)	$ (66,849)	$ 1,072,155	$ (188,365)	$ (2,057,588)
Net income (loss) per common share, basic and diluted (in dollars per share)	$ 0.01	$ (0.14)	$ 0.02	$ 0.27
Unrealized net holding gains (losses) arising during the period	$ (201,627)	$ 571,875	$ (987,801)	$ 1,819,318
Reclassification adjustment for gains included in net income (loss)	(2,403)	(9,157)	(115,452)	(68,846)
Other comprehensive income (loss)	(204,030)	562,718	(1,103,253)	1,750,472
Comprehensive income (loss)	$ (270,879)	$ 1,634,873	$ (1,291,618)	$ (307,116)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 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)	7,354
Common stock issued, $7 per share	$ 736	50,742	0	0	51,478
Costs associated with common stock issued	0	(144,863)	0	0	(144,863)
Other comprehensive income (loss)	0	0	1,750,472	0	1,750,472
Net loss	$ 0	0	0	(2,057,588)	(2,057,588)
Balance (in shares) at Sep. 30, 2020	7,741,358
Balance at Sep. 30, 2020	$ 774,137	23,116,136	4,079,967	(11,494,544)	16,475,696
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
Common stock issued, $7 per share (in shares)	129
Common stock issued, $7 per share	$ 13	890	0	0	903
Costs associated with common stock issued	0	(45,852)	0	0	(45,852)
Other comprehensive income (loss)	0	0	562,718	0	562,718
Net loss	$ 0	0	0	1,072,155	1,072,155
Balance (in shares) at Sep. 30, 2020	7,741,358
Balance at Sep. 30, 2020	$ 774,137	23,116,136	4,079,967	(11,494,544)	16,475,696
Balance (in shares) at Dec. 31, 2020	7,741,487
Balance at Dec. 31, 2020	$ 774,150	23,063,273	3,564,875	(8,997,507)	18,404,791
Common stock issued, $7 per share (in shares)	3,917
Common stock issued, $7 per share	$ 391	27,028	0	0	27,419
Costs associated with common stock issued	0	(125,709)	0	0	(125,709)
Other comprehensive income (loss)	0	0	(1,103,253)	0	(1,103,253)
Net loss	$ 0	0	0	(188,365)	(188,365)
Balance (in shares) at Sep. 30, 2021	7,745,404
Balance at Sep. 30, 2021	$ 774,541	22,964,592	2,461,622	(9,185,872)	17,014,883
Balance (in shares) at Jun. 30, 2021	7,745,404
Balance at Jun. 30, 2021	$ 774,541	22,998,144	2,665,652	(9,119,023)	17,319,314
Common stock issued, $7 per share	0	0	0	0	0
Costs associated with common stock issued	0	(33,552)	0	0	(33,552)
Other comprehensive income (loss)	0	0	(204,030)	0	(204,030)
Net loss	$ 0	0	0	(66,849)	(66,849)
Balance (in shares) at Sep. 30, 2021	7,745,404
Balance at Sep. 30, 2021	$ 774,541	$ 22,964,592	$ 2,461,622	$ (9,185,872)	$ 17,014,883

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2021	Sep. 30, 2020
Common Stock [Member]
Common stock, price per share (in dollars per share)	$ 7	$ 7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from operating activities:
Net loss	$ (188,365)	$ (2,057,588)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	25,912	7,678
Net (gains) losses realized on the sale of securities	(218,013)	172,351
Unrealized (gains) losses on equity securities	(63,119)	126,205
Change in fair value of funds withheld embedded derivative	483,874	138,529
Amortization of investment securities, net	134,482	100,026
Deferred acquisition costs capitalized	(338,108)	(591,987)
Deferred acquisition costs amortized	916,698	757,333
Value of business acquired amortized	69,315	15,227
Interest credited on deposit type contracts	1,257,102	811,403
(Increase) decrease in operating assets:
Change in funds withheld	(1,982,017)	(518,388)
Investment income due and accrued	(209,789)	(48,980)
Reinsurance related assets	(42,598)	189,532
Other assets	1,209,724	130,235
Increase (decrease) in operating liabilities:
Policyowner benefit reserves	3,292,676	2,595,292
Dividend Accumulation	2,816	(7,833)
Advance premiums	24,868	43,706
Other liabilities	823,821	165,790
Accounts payable and accrued expenses	(1,356,088)	20,541
Net cash provided by operating activities	3,843,191	2,049,072
Cash Flows from investing activities:
Purchase of mortgage investments	(2,254,095)	(2,317,153)
Proceeds from mortgage repayments	1,644,799	5,223
Transfers from (to) funds withheld	200,000	(4,391,824)
Interest on policy loans	0	(8,934)
Increase in policy loans	(14,820)	(35,861)
Purchase of property, equipment and software	(78,037)	0
Net cash used in investing activities	(2,173,841)	(8,892,936)
Cash Flows from financing activities:
Receipts on deposit-type contracts	3,210,990	5,883,499
Withdrawals on deposit-type contracts	(1,423,980)	(1,440,545)
Proceeds from FHLB advance	0	1,000,000
Proceeds received from issuance of common stock, net of costs of issuance	(98,290)	(93,385)
Net cash provided by financing activities	1,688,720	5,349,569
Net increase (decrease) in cash and cash equivalents	3,358,070	(1,494,295)
Cash and Cash Equivalents:
Beginning	4,320,759	6,678,805
Ending	7,678,829	5,184,510
Supplemental Disclosure of Non-Cash Information
Funds withheld assumed deposits on deposit-type contracts	1,370,136	47,097,503
Funds withheld assumed withdrawals on deposit-type contracts	(1,388,702)	86,229
Commissions and expense allowances deducted from funds withheld	(936,355)	6,808,484
Fixed Income Investments [Member]
Cash Flows from investing activities:
Purchase of debt security	(2,450,108)	(2,496,725)
Proceeds from debt securities	1,304,582	1,928,744
Equity Securities [Member]
Cash Flows from investing activities:
Purchase of debt security	(948,197)	(5,013,668)
Proceeds from debt securities	$ 422,035	$ 3,437,262

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	1. Description of Business and Significant Accounting Policies Description of business April 24, 2009 1303 200, 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, 2022. 4th 2017, USALSC received a Certificate of Authority from the Kansas Insurance Department ("KID") effective January 2, 2012, first May 1, 2013. January 24, 2012. USALSC and DCLIC seek opportunities to develop and market additional products. The Company’s 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 nine September 30, 2021 not December 31, 2021 not 10 December 31, 2020. Principles of consolidation Area of Operation: Reclassifications no Common stock and income (loss) per share: September 30, 2021, December 31, 2020, Income (loss) per share attributable to USAC’s common stockholders was computed based on the net income (loss) and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the nine September 30, 2021 2020 three September 30, 2021 2020 nine three September 30, 2021 2020. New accounting standards Leases In February 2016, 12 two no not The updated guidance is effective for reporting periods beginning after December 15, 2018, December 15, 2021. not Income Taxes - Simplifying the Accounting for Income Taxes In December 2019, 2019 12 March 31, 2021. 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 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

Note 2 - Investments

Note 2 - Investments	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Investment Holdings [Text Block]	Note 2. Fixed Maturity The amortized cost and fair value of available for sale investments as of September 30, 2021 December 31, 2020 September 30, 2021 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 577,795 $ 124,964 $ - $ 702,759 Corporate bonds 19,569,139 2,145,250 (194,441 ) 21,519,948 Municipal bonds 6,311,889 669,965 (15,738 ) 6,966,116 Redeemable preferred stock 3,071,658 54,358 (1,377 ) 3,124,639 Mortgage backed and asset backed securities 5,576,509 37,054 (35,429 ) 5,578,134 Total available for sale $ 35,106,990 $ 3,031,591 $ (246,985 ) $ 37,891,596 December 31, 2020 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 574,935 $ 127,981 $ - $ 702,916 Corporate bonds 20,126,836 2,821,508 (533 ) 22,947,811 Municipal bonds 5,992,707 804,443 (496 ) 6,796,654 Redeemable preferred stock 2,900,330 90,085 (200 ) 2,990,215 Mortgage backed and asset backed securities 4,189,710 50,274 (2 ) 4,239,982 Total available for sale $ 33,784,518 $ 3,894,291 $ (1,231 ) $ 37,677,578 The amortized cost and fair value of debt securities as of September 30, 2021 December 31, 2020, may may As of September 30, 2021 As of December 31, 2020 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 274,728 $ 275,215 $ 373,590 $ 379,823 After one year through five years 1,500,272 1,582,461 1,540,931 1,641,749 After five years through ten years 2,911,714 3,264,721 2,887,066 3,379,930 More than 10 years 21,772,109 24,066,426 21,892,891 25,045,879 Redeemable preferred stocks 3,071,658 3,124,639 2,900,330 2,990,215 Mortgage backed and asset backed securities 5,576,509 5,578,134 4,189,710 4,239,982 Total amortized cost and fair value $ 35,106,990 $ 37,891,596 $ 33,784,518 $ 37,677,578 Proceeds from the sale of securities, maturities, and asset paydowns in the nine September 30, 2021 2020 Nine Months Ended September 30, (unaudited) 2021 2020 Gross gains $ 218,411 $ 119,173 Gross losses (398 ) (291,524 ) Net realized gains (losses) $ 218,013 $ (172,351 ) Proceeds from the sale of securities, maturities, and asset paydowns in the three September 30, 2021 2020 Three Months Ended September 30, (unaudited) 2021 2020 Gross gains $ 2,400 $ 54,266 Gross losses - (1,739 ) Net realized gains (losses) $ 2,400 $ 52,527 Gross unrealized losses by duration are summarized as follows: Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss September 30, 2021 (unaudited) Available for sale: Fixed maturities: Corporate bonds $ 4,428,031 $ (194,441 ) $ - $ - $ 4,428,031 $ (194,441 ) Municipal bonds 1,028,561 (15,738 ) - - 1,028,561 (15,738 ) Redeemable preferred stock 540,975 (1,377 ) - - 540,975 (1,377 ) Mortgage backed and asset backed securities 3,605,242 (35,429 ) - - 3,605,242 (35,429 ) Total fixed maturities $ 9,602,808 $ (246,985 ) $ - $ - $ 9,602,808 $ (246,985 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2020 Available for sale: Fixed maturities: Corporate bonds $ 210,625 $ (2 ) $ 49,438 $ (531 ) $ 260,063 $ (533 ) Municipal bonds 47,249 (496 ) - - 47,249 (496 ) Redeemable preferred stock 77,918 (200 ) - - 77,918 (200 ) Mortgage backed and asset backed securities 309,144 (2 ) - - 309,144 (2 ) Total fixed maturities $ 644,936 $ (700 ) $ 49,438 $ (531 ) $ 694,374 $ (1,231 ) 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 September 30, 2021 September 30, 2021 December 31, 2020. Mortgage Loans on Real Estate The Company has invested in various mortgage loans through participation agreements with the original issuing entity. The Company’s mortgage loans by property type as of September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 (unaudited) Commercial mortgage loans by property type Student housing $ - $ 781,512 Condominium 2,003,705 1,874,445 Multi-property 1,235,750 332,195 Multi-family 535,977 177,984 Total commercial mortgages $ 3,775,432 $ 3,166,136 The Company utilizes loan-to-value of individual mortgage loans to evaluate the credit quality of its mortgage loan portfolio. The loan-to-value measures the loan's carrying value to its appraised value. The Company’s mortgage loans by loan-to-value ratio as of September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 (unaudited) Loan to value ratio Over 60 to 70% $ 2,003,705 $ 1,874,445 Over 40 to 50% 340,667 - Over 30 to 40% 195,310 177,984 Over 10 to 30% 1,235,750 1,113,707 Total $ 3,775,432 $ 3,166,136 The Company’s mortgage loans by maturity date as of September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 (unaudited) Maturity Date One year or less $ 2,199,015 $ 2,393,900 After one year through five years 1,576,417 772,236 Total $ 3,775,432 $ 3,166,136 The Company had no mortgage loans that were on non-accrued status as of September 30, 2021 December 31, 2020. September 30, 2021 December 31, 2020. not Investment Income, Net of Expenses The components of net investment income for the nine September 30, 2021 2020 Nine Months Ended September 30, 2021 2020 (unaudited) Fixed maturities $ 834,464 $ 889,563 Mortgages 281,718 61,438 Equity securities 453,809 487,777 Funds withheld 2,675,956 962,023 Cash and cash equivalents 1,285 12,240 4,247,232 2,413,041 Less investment expenses (104,105 ) (90,872 ) $ 4,143,127 $ 2,322,169 The components of net investment income for the three September 30, 2021 2020 Three Months Ended September 30, 2021 2020 (unaudited) Fixed maturities $ 280,823 $ 272,145 Mortgages 92,459 55,587 Equity securities 151,168 198,327 Funds withheld 1,026,680 597,990 Cash and cash equivalents 417 864 1,551,547 1,124,913 Less investment expenses (39,992 ) (58,755 ) $ 1,511,555 $ 1,066,158 Net Investment Gains (Losses) Accounting standards require that the unrealized gains and losses on equity securities be reported as income on the consolidated statements of comprehensive income (loss). For the nine September 30, 2021, nine September 30, 2020, three September 30, 2021, three September 30, 2020,

Note 3 - Derivative Instruments

Note 3 - Derivative Instruments	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 3. Derivative Instruments Types of Derivatives used by the Company The Company’s derivatives consist 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 is as follows: September 30, 2021 December 31, 2020 Derivative Derivative Balance Asset Liability Asset Liability Reported In (unaudited) Derivatives: Embedded derivatives: Funds withheld embedded derivative $ 169,420 $ - $ 653,294 $ - 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 September 30, 2021 September 30, 2020 Reported In (unaudited) Derivatives: Embedded derivatives: Change in funds withheld embedded derivative $ (483,874 ) $ (138,529 ) Net investment losses

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
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 Available for sale fixed maturities third Equity securities: third Embedded derivative not 3 not three nine September 30, 2021 2020. The table below presents the amounts of assets measured at fair value on a recurring basis as of September 30, 2021 December 31, 2020: September 30, 2021 Total Level 1 Level 2 Level 3 (unaudited) Fixed maturities: US Treasury securities $ 702,759 $ 702,759 $ - $ - Corporate bonds 21,519,948 - 21,338,348 181,600 Municipal bonds 6,966,116 - 6,966,116 - Redeemable preferred stock 3,124,639 - 3,124,639 - Mortgage backed and asset backed securities 5,578,134 - 5,578,134 - Total fixed maturities 37,891,596 702,759 37,007,237 181,600 Equities: Common stock 7,254,692 7,161,792 92,900 - Preferred stock 2,467,948 - 2,467,948 - Total equities 9,722,640 7,161,792 2,560,848 - Funds withheld embedded derivative 169,420 - - 169,420 Total $ 47,783,656 $ 7,864,551 $ 39,568,085 $ 351,020 December 31, 2020 Total Level 1 Level 2 Level 3 Fixed maturities: US Treasury securities $ 702,916 $ 702,916 $ - $ - Corporate bonds 22,947,811 - 22,761,011 186,800 Municipal bonds 6,796,654 - 6,796,654 - Redeemable preferred stock 2,990,215 - 2,990,215 - Mortgage backed and asset backed securities 4,239,982 - 4,239,982 - Total fixed maturities 37,677,578 702,916 36,787,862 186,800 Equities: Common stock 6,808,944 6,717,144 91,800 - Preferred stock 2,412,630 - 2,412,630 - Total equities 9,221,574 6,717,144 2,504,430 - Funds withheld embedded derivative 653,294 - - 653,294 Total $ 47,552,446 $ 7,420,060 $ 39,292,292 $ 840,094 The reconciliations for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3 For the Nine Months Ended September 30, 2021 Corporate Funds Bonds Withheld Fair value, beginning of period $ 186,800 $ 653,294 Principal payment (5,200 ) - Investment related losses - (483,874 ) Fair value, end of period $ 181,600 $ 169,420 For the Three Months Ended September 30, 2021 Corporate Funds Bonds Withheld Fair value, beginning of period $ 186,800 $ 408,174 Principal payment (5,200 ) - Investment related losses - (238,754 ) Fair value, end of period $ 181,600 $ 169,420 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: Mortgage loans on real estate: 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 September 30, 2021 December 31, 2020 September 30, 2021 (unaudited) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 7,678,829 $ 7,678,829 $ 7,678,829 $ - $ - Mortgage loans on real estate 3,775,432 3,775,432 - - 3,775,432 Investment income due and accrued 632,825 632,825 - - 632,825 Funds withheld 47,905,497 48,074,917 - - 48,074,917 Policy loans 178,545 178,545 - - 178,545 Total Financial Assets (excluding available for sale investments) $ 60,171,128 $ 60,340,548 $ 7,678,829 $ - $ 52,661,719 Financial Liabilities: Federal Home Loan Bank advance $ 2,000,000 $ 2,000,000 $ - $ - $ 2,000,000 Policyholder deposits in deposit-type contracts 75,107,753 75,973,181 - - 75,973,181 Total Financial Liabilities $ 77,107,753 $ 77,973,181 $ - $ - $ 77,973,181 December 31, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 4,320,759 $ 4,320,759 $ 4,320,759 $ - $ - Mortgage loans on real estate 3,166,136 3,166,136 - - 3,166,136 Investment income due and accrued 423,036 423,036 - - 423,036 Funds withheld 46,176,782 46,830,076 - - 46,830,076 Policy loans 163,725 163,725 - - 163,725 Total Financial Assets (excluding available for sale investments) $ 54,250,438 $ 54,903,732 $ 4,320,759 $ - $ 50,582,973 Financial Liabilities: Federal Home Loan Bank advance $ 2,000,000 $ 2,000,000 $ - $ - $ 2,000,000 Policyholder deposits in deposit-type contracts 72,082,207 74,351,806 - - 74,351,806 Total Financial Liabilities $ 74,082,207 $ 76,351,806 $ - $ - $ 76,351,806

Note 5 - Income Tax Provision

Note 5 - Income Tax Provision	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5. Income Tax Provision No income tax expense or (benefit) has been reflected for the nine three September 30, 2021 2020 The net operating loss carryforwards for the Company are $10,054,432 as of December 31, 2020 September 30, 2021. $243,257 September 30, 2021 December 31, 2020.

Note 6 - Subsequent Events

Note 6 - Subsequent Events	9 Months Ended
	Sep. 30, 2021
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 November 12, 2021, October 31, 2021, November 3, 2021,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation 10 10 X. not The results of operation for the three nine September 30, 2021 not December 31, 2021 not 10 December 31, 2020.
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: September 30, 2021, December 31, 2020, Income (loss) per share attributable to USAC’s common stockholders was computed based on the net income (loss) and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the nine September 30, 2021 2020 three September 30, 2021 2020 nine three September 30, 2021 2020.
New Accounting Pronouncements, Policy [Policy Text Block]	New accounting standards Leases In February 2016, 12 two no not The updated guidance is effective for reporting periods beginning after December 15, 2018, December 15, 2021. not Income Taxes - Simplifying the Accounting for Income Taxes In December 2019, 2019 12 March 31, 2021. 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 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

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Debt Securities, Available-for-sale [Table Text Block]	September 30, 2021 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 577,795 $ 124,964 $ - $ 702,759 Corporate bonds 19,569,139 2,145,250 (194,441 ) 21,519,948 Municipal bonds 6,311,889 669,965 (15,738 ) 6,966,116 Redeemable preferred stock 3,071,658 54,358 (1,377 ) 3,124,639 Mortgage backed and asset backed securities 5,576,509 37,054 (35,429 ) 5,578,134 Total available for sale $ 35,106,990 $ 3,031,591 $ (246,985 ) $ 37,891,596 December 31, 2020 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 574,935 $ 127,981 $ - $ 702,916 Corporate bonds 20,126,836 2,821,508 (533 ) 22,947,811 Municipal bonds 5,992,707 804,443 (496 ) 6,796,654 Redeemable preferred stock 2,900,330 90,085 (200 ) 2,990,215 Mortgage backed and asset backed securities 4,189,710 50,274 (2 ) 4,239,982 Total available for sale $ 33,784,518 $ 3,894,291 $ (1,231 ) $ 37,677,578
Investments Classified by Contractual Maturity Date [Table Text Block]	As of September 30, 2021 As of December 31, 2020 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 274,728 $ 275,215 $ 373,590 $ 379,823 After one year through five years 1,500,272 1,582,461 1,540,931 1,641,749 After five years through ten years 2,911,714 3,264,721 2,887,066 3,379,930 More than 10 years 21,772,109 24,066,426 21,892,891 25,045,879 Redeemable preferred stocks 3,071,658 3,124,639 2,900,330 2,990,215 Mortgage backed and asset backed securities 5,576,509 5,578,134 4,189,710 4,239,982 Total amortized cost and fair value $ 35,106,990 $ 37,891,596 $ 33,784,518 $ 37,677,578
Realized Gain (Loss) on Investments [Table Text Block]	Nine Months Ended September 30, (unaudited) 2021 2020 Gross gains $ 218,411 $ 119,173 Gross losses (398 ) (291,524 ) Net realized gains (losses) $ 218,013 $ (172,351 ) Three Months Ended September 30, (unaudited) 2021 2020 Gross gains $ 2,400 $ 54,266 Gross losses - (1,739 ) Net realized gains (losses) $ 2,400 $ 52,527
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block]	Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss September 30, 2021 (unaudited) Available for sale: Fixed maturities: Corporate bonds $ 4,428,031 $ (194,441 ) $ - $ - $ 4,428,031 $ (194,441 ) Municipal bonds 1,028,561 (15,738 ) - - 1,028,561 (15,738 ) Redeemable preferred stock 540,975 (1,377 ) - - 540,975 (1,377 ) Mortgage backed and asset backed securities 3,605,242 (35,429 ) - - 3,605,242 (35,429 ) Total fixed maturities $ 9,602,808 $ (246,985 ) $ - $ - $ 9,602,808 $ (246,985 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2020 Available for sale: Fixed maturities: Corporate bonds $ 210,625 $ (2 ) $ 49,438 $ (531 ) $ 260,063 $ (533 ) Municipal bonds 47,249 (496 ) - - 47,249 (496 ) Redeemable preferred stock 77,918 (200 ) - - 77,918 (200 ) Mortgage backed and asset backed securities 309,144 (2 ) - - 309,144 (2 ) Total fixed maturities $ 644,936 $ (700 ) $ 49,438 $ (531 ) $ 694,374 $ (1,231 )
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, 2021 December 31, 2020 (unaudited) Commercial mortgage loans by property type Student housing $ - $ 781,512 Condominium 2,003,705 1,874,445 Multi-property 1,235,750 332,195 Multi-family 535,977 177,984 Total commercial mortgages $ 3,775,432 $ 3,166,136
Schedule of Mortage Loans by Loan-to-Value Ratio [Table Text Block]	September 30, 2021 December 31, 2020 (unaudited) Loan to value ratio Over 60 to 70% $ 2,003,705 $ 1,874,445 Over 40 to 50% 340,667 - Over 30 to 40% 195,310 177,984 Over 10 to 30% 1,235,750 1,113,707 Total $ 3,775,432 $ 3,166,136
Schedule of Mortgage Loans by Maturity Date [Table Text Block]	September 30, 2021 December 31, 2020 (unaudited) Maturity Date One year or less $ 2,199,015 $ 2,393,900 After one year through five years 1,576,417 772,236 Total $ 3,775,432 $ 3,166,136
Investment Income [Table Text Block]	Nine Months Ended September 30, 2021 2020 (unaudited) Fixed maturities $ 834,464 $ 889,563 Mortgages 281,718 61,438 Equity securities 453,809 487,777 Funds withheld 2,675,956 962,023 Cash and cash equivalents 1,285 12,240 4,247,232 2,413,041 Less investment expenses (104,105 ) (90,872 ) $ 4,143,127 $ 2,322,169 Three Months Ended September 30, 2021 2020 (unaudited) Fixed maturities $ 280,823 $ 272,145 Mortgages 92,459 55,587 Equity securities 151,168 198,327 Funds withheld 1,026,680 597,990 Cash and cash equivalents 417 864 1,551,547 1,124,913 Less investment expenses (39,992 ) (58,755 ) $ 1,511,555 $ 1,066,158

Note 3 - Derivative Instrumen_2

Note 3 - Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block]	September 30, 2021 December 31, 2020 Derivative Derivative Balance Asset Liability Asset Liability Reported In (unaudited) Derivatives: Embedded derivatives: Funds withheld embedded derivative $ 169,420 $ - $ 653,294 $ - Funds withheld Period Ending Period Ending Balance September 30, 2021 September 30, 2020 Reported In (unaudited) Derivatives: Embedded derivatives: Change in funds withheld embedded derivative $ (483,874 ) $ (138,529 ) Net investment losses

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2021 Total Level 1 Level 2 Level 3 (unaudited) Fixed maturities: US Treasury securities $ 702,759 $ 702,759 $ - $ - Corporate bonds 21,519,948 - 21,338,348 181,600 Municipal bonds 6,966,116 - 6,966,116 - Redeemable preferred stock 3,124,639 - 3,124,639 - Mortgage backed and asset backed securities 5,578,134 - 5,578,134 - Total fixed maturities 37,891,596 702,759 37,007,237 181,600 Equities: Common stock 7,254,692 7,161,792 92,900 - Preferred stock 2,467,948 - 2,467,948 - Total equities 9,722,640 7,161,792 2,560,848 - Funds withheld embedded derivative 169,420 - - 169,420 Total $ 47,783,656 $ 7,864,551 $ 39,568,085 $ 351,020 December 31, 2020 Total Level 1 Level 2 Level 3 Fixed maturities: US Treasury securities $ 702,916 $ 702,916 $ - $ - Corporate bonds 22,947,811 - 22,761,011 186,800 Municipal bonds 6,796,654 - 6,796,654 - Redeemable preferred stock 2,990,215 - 2,990,215 - Mortgage backed and asset backed securities 4,239,982 - 4,239,982 - Total fixed maturities 37,677,578 702,916 36,787,862 186,800 Equities: Common stock 6,808,944 6,717,144 91,800 - Preferred stock 2,412,630 - 2,412,630 - Total equities 9,221,574 6,717,144 2,504,430 - Funds withheld embedded derivative 653,294 - - 653,294 Total $ 47,552,446 $ 7,420,060 $ 39,292,292 $ 840,094
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	For the Nine Months Ended September 30, 2021 Corporate Funds Bonds Withheld Fair value, beginning of period $ 186,800 $ 653,294 Principal payment (5,200 ) - Investment related losses - (483,874 ) Fair value, end of period $ 181,600 $ 169,420 For the Three Months Ended September 30, 2021 Corporate Funds Bonds Withheld Fair value, beginning of period $ 186,800 $ 408,174 Principal payment (5,200 ) - Investment related losses - (238,754 ) Fair value, end of period $ 181,600 $ 169,420
Fair Value, by Balance Sheet Grouping [Table Text Block]	September 30, 2021 (unaudited) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 7,678,829 $ 7,678,829 $ 7,678,829 $ - $ - Mortgage loans on real estate 3,775,432 3,775,432 - - 3,775,432 Investment income due and accrued 632,825 632,825 - - 632,825 Funds withheld 47,905,497 48,074,917 - - 48,074,917 Policy loans 178,545 178,545 - - 178,545 Total Financial Assets (excluding available for sale investments) $ 60,171,128 $ 60,340,548 $ 7,678,829 $ - $ 52,661,719 Financial Liabilities: Federal Home Loan Bank advance $ 2,000,000 $ 2,000,000 $ - $ - $ 2,000,000 Policyholder deposits in deposit-type contracts 75,107,753 75,973,181 - - 75,973,181 Total Financial Liabilities $ 77,107,753 $ 77,973,181 $ - $ - $ 77,973,181 December 31, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 4,320,759 $ 4,320,759 $ 4,320,759 $ - $ - Mortgage loans on real estate 3,166,136 3,166,136 - - 3,166,136 Investment income due and accrued 423,036 423,036 - - 423,036 Funds withheld 46,176,782 46,830,076 - - 46,830,076 Policy loans 163,725 163,725 - - 163,725 Total Financial Assets (excluding available for sale investments) $ 54,250,438 $ 54,903,732 $ 4,320,759 $ - $ 50,582,973 Financial Liabilities: Federal Home Loan Bank advance $ 2,000,000 $ 2,000,000 $ - $ - $ 2,000,000 Policyholder deposits in deposit-type contracts 72,082,207 74,351,806 - - 74,351,806 Total Financial Liabilities $ 74,082,207 $ 76,351,806 $ - $ - $ 76,351,806

Note 1 - Description of Busin_2

Note 1 - Description of Business and Significant Accounting Policies (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2021$ / sharesshares	Sep. 30, 2020shares	Sep. 30, 2021$ / sharesshares	Sep. 30, 2020shares	Dec. 31, 2020$ / sharesshares
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)	20,000,000		20,000,000		20,000,000
Common Stock, Shares, Issued, Total (in shares)	7,745,404		7,745,404		7,741,487
Weighted Average Number of Shares Outstanding, Basic and Diluted (in shares)	7,745,404	7,741,272	7,742,894	7,738,179

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Proceeds from Sale, Maturity and Collection of Investments, Total	$ 460,583	$ 766,220	$ 3,371,416	$ 5,371,229
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	62		62
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	$ 246,985		$ 246,985
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total			0		$ 0
Mortgage Loans, Non-accrued Status	0		0		0
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Principal Amount of Delinquent Loans	0		0		0
Allowance for Loan and Lease Losses, Real Estate	0		0		$ 0
Debt and Equity Securities, Unrealized Gain (Loss), Total	(40,178)	730,964	63,119	(126,205)
Debt and Equity Securities, Realized Gain (Loss), Total	2,400	52,527	218,013	(172,351)
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total	$ (238,754)	$ (138,529)	$ (483,874)	$ (138,529)
Bonds [Member]
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	29		29
Collateralized Mortgage Backed Securities [Member]
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	31		31
Redeemable Preferred Stock [Member]
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	2		2

Note 2 - Investments - Amortize

Note 2 - Investments - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Investments (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Debt securities, amortized cost, total	$ 35,106,990	$ 33,784,518
Debt Securities, Gross Unrealized Gains	3,031,591
Debt Securities, Gross Unrealized Losses	(246,985)	(1,231)
Investments in available-for-sale securities, at fair value	37,891,596	37,677,578
Debt Securities, Gross Unrealized Gain		3,894,291
Fixed Maturities [Member]
Debt securities, amortized cost, total	35,106,990	33,784,518
Investments in available-for-sale securities, at fair value	37,891,596	37,677,578
US Treasury Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost, total	577,795	574,935
Debt Securities, Gross Unrealized Gains	124,964
Debt Securities, Gross Unrealized Losses	0	0
Investments in available-for-sale securities, at fair value	702,759	702,916
Debt Securities, Gross Unrealized Gain		127,981
Corporate Debt Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost, total	19,569,139	20,126,836
Debt Securities, Gross Unrealized Gains	2,145,250
Debt Securities, Gross Unrealized Losses	(194,441)	(533)
Investments in available-for-sale securities, at fair value	21,519,948	22,947,811
Debt Securities, Gross Unrealized Gain		2,821,508
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost, total	6,311,889	5,992,707
Debt Securities, Gross Unrealized Gains	669,965
Debt Securities, Gross Unrealized Losses	(15,738)	(496)
Investments in available-for-sale securities, at fair value	6,966,116	6,796,654
Debt Securities, Gross Unrealized Gain		804,443
Redeemable Preferred Stock [Member] | Fixed Maturities [Member]
Debt securities, amortized cost, total	3,071,658	2,900,330
Debt Securities, Gross Unrealized Gains	54,358
Debt Securities, Gross Unrealized Losses	(1,377)	(200)
Investments in available-for-sale securities, at fair value	3,124,639	2,990,215
Debt Securities, Gross Unrealized Gain		90,085
Collateralized Mortgage Backed Securities [Member] | Fixed Maturities [Member]
Debt securities, amortized cost, total	5,576,509	4,189,710
Debt Securities, Gross Unrealized Gains	37,054
Debt Securities, Gross Unrealized Losses	(35,429)	(2)
Investments in available-for-sale securities, at fair value	$ 5,578,134	4,239,982
Debt Securities, Gross Unrealized Gain		$ 50,274

Note 2 - Investments - Amorti_2

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Debt securities, amortized cost, total	$ 35,106,990	$ 33,784,518
Debt securities, fair value, total	37,891,596	37,677,578
Fixed Maturities [Member]
One year or less, amortized cost	274,728	373,590
One year or less, fair value	275,215	379,823
After one year through five years, amortized cost	1,500,272	1,540,931
After one year through five years, fair value	1,582,461	1,641,749
After five years through ten years, amortized cost	2,911,714	2,887,066
After five years through ten years, fair value	3,264,721	3,379,930
More than 10 years, amortized cost	21,772,109	21,892,891
More than 10 years, fair value	24,066,426	25,045,879
Debt securities, amortized cost, total	35,106,990	33,784,518
Debt securities, fair value, total	37,891,596	37,677,578
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Debt securities, amortized cost	3,071,658	2,900,330
Debt securities, fair value	3,124,639	2,990,215
Debt securities, amortized cost, total	3,071,658	2,900,330
Debt securities, fair value, total	3,124,639	2,990,215
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Debt securities, amortized cost	5,576,509	4,189,710
Debt securities, fair value	5,578,134	4,239,982
Debt securities, amortized cost, total	5,576,509	4,189,710
Debt securities, fair value, total	$ 5,578,134	$ 4,239,982

Note 2 - Investments - Realized

Note 2 - Investments - Realized Gains and Losses Related to the Sale of Securities (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Gross gains	$ 2,400	$ 54,266	$ 218,411	$ 119,173
Gross losses	0	(1,739)	(398)	(291,524)
Net realized gains (losses)	2,400	52,527	218,013	(172,351)
Gross gains	2,400	54,266	218,411	119,173
Gross losses	$ 0	$ (1,739)	$ (398)	$ (291,524)

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Gross Unrealized Loss	$ (246,985)
Fixed Maturities [Member]
Available-for-sale securities, less than 12 months, fair value	9,602,808	$ 644,936
Available-for-sale securities, less than 12 months, unrealized loss	(246,985)	(700)
Available-for-sale securities, greater than 12 months, fair value	0	49,438
Available-for-sale securities, greater than 12 months, unrealized loss	0	(531)
Available-for-sale securities, fair value	9,602,808	694,374
Debt Securities, Gross Unrealized Loss	(246,985)	(1,231)
Available-for-sale securities, greater than 12 months, unrealized loss	0	531
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	4,428,031	210,625
Available-for-sale securities, less than 12 months, unrealized loss	(194,441)	(2)
Available-for-sale securities, greater than 12 months, fair value	0	49,438
Available-for-sale securities, greater than 12 months, unrealized loss	0	(531)
Available-for-sale securities, fair value	4,428,031	260,063
Debt Securities, Gross Unrealized Loss	(194,441)	(533)
Available-for-sale securities, greater than 12 months, unrealized loss	0	531
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	1,028,561	47,249
Available-for-sale securities, less than 12 months, unrealized loss	(15,738)	(496)
Available-for-sale securities, greater than 12 months, fair value	0	0
Available-for-sale securities, greater than 12 months, unrealized loss	0	0
Available-for-sale securities, fair value	1,028,561	47,249
Debt Securities, Gross Unrealized Loss	(15,738)	(496)
Available-for-sale securities, greater than 12 months, unrealized loss	0	0
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	540,975	77,918
Available-for-sale securities, less than 12 months, unrealized loss	(1,377)	(200)
Available-for-sale securities, greater than 12 months, fair value	0	0
Available-for-sale securities, greater than 12 months, unrealized loss	0	0
Available-for-sale securities, fair value	540,975	77,918
Debt Securities, Gross Unrealized Loss	(1,377)	(200)
Available-for-sale securities, greater than 12 months, unrealized loss	0	0
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	3,605,242	309,144
Available-for-sale securities, less than 12 months, unrealized loss	(35,429)	(2)
Available-for-sale securities, greater than 12 months, fair value	0	0
Available-for-sale securities, greater than 12 months, unrealized loss	0	0
Available-for-sale securities, fair value	3,605,242	309,144
Debt Securities, Gross Unrealized Loss	(35,429)	(2)
Available-for-sale securities, greater than 12 months, unrealized loss	$ 0	$ 0

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans by Property Type (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Total commercial mortgages	$ 3,775,432	$ 3,166,136
Student Housing [Member]
Total commercial mortgages	0	781,512
Condominium [Member]
Total commercial mortgages	2,003,705	1,874,445
Multi-property [Member]
Total commercial mortgages	1,235,750	332,195
Multifamily [Member]
Total commercial mortgages	$ 535,977	$ 177,984

Note 2 - Investments - Mortga_2

Note 2 - Investments - Mortgage Loans by Loan-to-value Ratio (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Total commercial mortgages	$ 3,775,432	$ 3,166,136
Debt-to-Value Ratio, 60 to 70 Percent [Member]
Total commercial mortgages	2,003,705	1,874,445
Debt-to-Value Ratio, 40 to 50 Percent [Member]
Total commercial mortgages	340,667	0
Debt-to-Value Ratio, 30 to 40 Percent [Member]
Total commercial mortgages	195,310	177,984
Debt-to-Value Ration, 10 to 30 Percent [Member]
Total commercial mortgages	$ 1,235,750	$ 1,113,707

Note 2 - Investments - Mortga_3

Note 2 - Investments - Mortgage Loans by Maturity Date (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
One year or less	$ 2,199,015	$ 2,393,900
After one year through five years	1,576,417	772,236
Total commercial mortgages	$ 3,775,432	$ 3,166,136

Note 2 - Investments - Componen

Note 2 - Investments - Components of Net Investment Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investment income	$ 1,551,547	$ 1,124,913	$ 4,247,232	$ 2,413,041
Less investment expenses	(39,992)	(58,755)	(104,105)	(90,872)
Investment income, net	1,511,555	1,066,158	4,143,127	2,322,169
Fixed Maturities [Member]
Investment income	280,823	272,145	834,464	889,563
Mortgages [Member]
Investment income	92,459	55,587	281,718	61,438
Equity Securities [Member]
Investment income	151,168	198,327	453,809	487,777
Funds Withheld on Coinsurance Assets [Member]
Investment income	1,026,680	597,990	2,675,956	962,023
Cash and Cash Equivalents [Member]
Investment income	$ 417	$ 864	$ 1,285	$ 12,240

Note 3 - Derivative Instrumen_3

Note 3 - Derivative Instruments - Fair Value of Derivative Financial Instruments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Funds withheld embedded derivative, asset	$ 169,420		$ 169,420		$ 653,294
Funds withheld embedded derivative	0		0		0
Funds withheld embedded derivative, asset	169,420		169,420		$ 653,294
Change in fair value of funds withheld embedded derivative	$ 238,754	$ 138,529	$ 483,874	$ 138,529

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020
Derivative Credit Risk Valuation Adjustment, Derivative Liabilities	$ 0	$ 0	$ 0	$ 0

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Investments in available-for-sale securities, at fair value	$ 37,891,596	$ 37,677,578
Funds withheld embedded derivative	0	0
Fair Value, Recurring [Member]
Funds withheld embedded derivative		653,294
Investments, fair value	47,783,656	47,552,446
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Funds withheld embedded derivative		0
Investments, fair value	7,864,551	7,420,060
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Funds withheld embedded derivative		0
Investments, fair value	39,568,085	39,292,292
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Funds withheld embedded derivative		653,294
Investments, fair value	351,020	840,094
Fixed Maturities [Member]
Investments in available-for-sale securities, at fair value	37,891,596	37,677,578
Fixed Maturities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	37,891,596	37,677,578
Fixed Maturities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	702,759	702,916
Fixed Maturities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	37,007,237	36,787,862
Fixed Maturities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value	181,600	186,800
Fixed Maturities [Member] | US Treasury Securities [Member]
Investments in available-for-sale securities, at fair value	702,759	702,916
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	702,759	702,916
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	702,759	702,916
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	0	0
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	0	0
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Investments in available-for-sale securities, at fair value	21,519,948	22,947,811
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	21,519,948	22,947,811
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	0	0
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	21,338,348	22,761,011
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	181,600	186,800
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Investments in available-for-sale securities, at fair value	6,966,116	6,796,654
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	6,966,116	6,796,654
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	0	0
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	6,966,116	6,796,654
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	0	0
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Investments in available-for-sale securities, at fair value	3,124,639	2,990,215
Fixed Maturities [Member] | Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	3,124,639	2,990,215
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	0	0
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	3,124,639	2,990,215
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	0	0
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Investments in available-for-sale securities, at fair value	5,578,134	4,239,982
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	5,578,134	4,239,982
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	0	0
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	5,578,134	4,239,982
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	0	0
Equity Securities [Member]
Investments in available-for-sale securities, at fair value	9,722,640	9,221,574
Equity Securities [Member] | Fair Value, Recurring [Member]
Equity securities, fair value	9,722,640	9,221,574
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities, fair value	7,161,792	6,717,144
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities, fair value	2,560,848	2,504,430
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities, fair value	0	0
Equity Securities [Member] | Common Stock [Member] | Fair Value, Recurring [Member]
Equity securities, fair value	7,254,692	6,808,944
Equity Securities [Member] | Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities, fair value	7,161,792	6,717,144
Equity Securities [Member] | Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities, fair value	92,900	91,800
Equity Securities [Member] | Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities, fair value	0	0
Equity Securities [Member] | Preferred Stock [Member] | Fair Value, Recurring [Member]
Equity securities, fair value	2,467,948	2,412,630
Equity Securities [Member] | Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities, fair value	0	0
Equity Securities [Member] | Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities, fair value	2,467,948	2,412,630
Equity Securities [Member] | Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities, fair value	0	$ 0
Funds Withheld on Coinsurance Assets [Member] | Fair Value, Recurring [Member]
Funds withheld embedded derivative	169,420
Funds Withheld on Coinsurance Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Funds withheld embedded derivative	0
Funds Withheld on Coinsurance Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Funds withheld embedded derivative	0
Funds Withheld on Coinsurance Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Funds withheld embedded derivative	$ 169,420

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]	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)
Corporate Debt Securities [Member]
Fair value, beginning of period		$ 186,800
Principal payment	$ (5,200)	(5,200)
Investment related losses	0	0
Fair value, end of period	181,600	181,600
Fair value, beginning of period	186,800	186,800
Funds Withheld on Coinsurance Assets [Member]
Fair value, beginning of period		653,294
Principal payment	0	0
Investment related losses	(238,754)	(483,874)
Fair value, end of period	169,420	169,420
Fair value, beginning of period	$ 408,174	$ 408,174

Note 4 - Fair Value Measureme_6

Note 4 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Assets and Liabilities (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Reported Value Measurement [Member]
Cash and cash equivalents	$ 7,678,829	$ 4,320,759
Mortgage loans on real estate	3,775,432	3,166,136
Investment income due and accrued	632,825	423,036
Funds withheld	47,905,497	46,176,782
Policy loans	178,545	163,725
Total Financial Assets (excluding available for sale investments)	60,171,128	54,250,438
Federal Home Loan Bank advance	2,000,000	2,000,000
Policyholder deposits in deposit-type contracts	75,107,753	72,082,207
Total Financial Liabilities	77,107,753	74,082,207
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	7,678,829	4,320,759
Mortgage loans on real estate	3,775,432	3,166,136
Investment income due and accrued	632,825	423,036
Funds withheld	48,074,917	46,830,076
Policy loans	178,545	163,725
Total Financial Assets (excluding available for sale investments)	60,340,548	54,903,732
Federal Home Loan Bank advance	2,000,000	2,000,000
Policyholder deposits in deposit-type contracts	75,973,181	74,351,806
Total Financial Liabilities	77,973,181	76,351,806
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	7,678,829	4,320,759
Mortgage loans on real estate	0	0
Investment income due and accrued	0	0
Funds withheld	0	0
Policy loans	0	0
Total Financial Assets (excluding available for sale investments)	7,678,829	4,320,759
Federal Home Loan Bank advance	0	0
Policyholder deposits in deposit-type contracts	0	0
Total Financial Liabilities	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	0	0
Mortgage loans on real estate	0	0
Investment income due and accrued	0	0
Funds withheld	0	0
Policy loans	0	0
Total Financial Assets (excluding available for sale investments)	0	0
Federal Home Loan Bank advance	0	0
Policyholder deposits in deposit-type contracts	0	0
Total Financial Liabilities	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0	0
Mortgage loans on real estate	3,775,432	3,166,136
Investment income due and accrued	632,825	423,036
Funds withheld	48,074,917	46,830,076
Policy loans	178,545	163,725
Total Financial Assets (excluding available for sale investments)	52,661,719	50,582,973
Federal Home Loan Bank advance	2,000,000	2,000,000
Policyholder deposits in deposit-type contracts	75,973,181	74,351,806
Total Financial Liabilities	$ 77,973,181	$ 76,351,806

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Income Tax Expense (Benefit), Total	$ 0	$ 0	$ 0	$ 0
Deferred Income Tax Assets, Net, Total	243,257		243,257		$ 243,257
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	$ 10,500,000		$ 10,500,000		$ 10,054,432