US Alliance 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 02, 2022
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	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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		7,746,922

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Available for sale fixed maturity securities (amortized cost: $38,126,591 and $35,256,039 as of September 30, 2022 and December 31, 2021, respectively)	$ 32,501,793	$ 37,942,657
Equity securities, at fair value	7,666,651	9,157,193
Mortgage loans on real estate	4,107,300	3,653,142
Funds withheld under coinsurance agreement, at fair value	49,090,320	49,018,974
Policy loans	34,702	173,341
Real estate, net of depreciation	1,381,071	1,403,137
Total investments	94,781,837	101,348,444
Cash and cash equivalents	9,388,262	7,955,348
Investment income due and accrued	614,021	698,504
Reinsurance related assets	278,969	3,438
Deferred acquisition costs, net	5,812,727	6,354,875
Value of business acquired, net	2,541,498	2,610,813
Property, equipment and software, net	136,982	92,785
Goodwill	277,542	277,542
Deferred tax asset, net of valuation allowance	1,560,767	1,560,767
Other assets	1,490,883	582,318
Total assets	116,883,488	121,484,834
Liabilities:
Deposit-type contracts	79,193,197	75,567,873
Policyholder benefit reserves	28,612,696	25,204,578
Dividend accumulation	120,720	118,262
Advance premiums	158,397	136,229
Total policy liabilities	108,085,010	101,026,942
Accounts payable and accrued expenses	207,173	689,065
Federal Home Loan Bank advance	(1,000,000)	(2,000,000)
Other liabilities	1,288,097	187,071
Total liabilities	110,580,280	103,903,078
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,746,922 and 7,745,404 shares as of September 30, 2022 and December 31, 2021, respectively	774,693	774,541
Additional paid-in capital	22,955,458	22,948,637
Accumulated deficit	(11,637,258)	(8,663,152)
Accumulated other comprehensive income (loss)	(5,789,685)	2,521,730
Total shareholders' equity	6,303,208	17,581,756
Total liabilities and shareholders' equity	$ 116,883,488	$ 121,484,834

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Available for sale securities, amortized cost	$ 38,126,591	$ 35,256,039
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)	7,746,922	7,745,404
Common stock, shares outstanding (in shares)	7,746,922	7,745,404

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Premium income	$ 3,297,461	$ 2,860,039	$ 10,023,670	$ 9,212,137
Net investment income	1,858,605	1,511,555	4,429,292	4,143,127
Net investment losses	(655,495)	(276,532)	(2,809,802)	(202,742)
Other income	92,713	80,497	252,899	237,901
Total income	4,593,284	4,175,559	11,896,059	13,390,423
Expenses:
Death claims	691,540	600,819	2,216,965	1,702,615
Policyholder benefits	1,535,914	1,344,823	5,149,048	4,783,193
Increase in policyholder reserves	1,250,136	967,579	3,393,766	3,310,238
Commissions, net of deferrals	168,334	169,075	560,549	542,536
Amortization of deferred acquisition costs	318,628	361,833	900,532	916,698
Amortization of value of business acquired	23,105	23,105	69,315	69,315
Salaries & benefits	362,048	352,421	1,046,368	890,615
Other operating expenses	495,009	422,753	1,533,622	1,363,578
Total expense	4,844,714	4,242,408	14,870,165	13,578,788
Net loss	$ (251,430)	$ (66,849)	$ (2,974,106)	$ (188,365)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.03)	$ (0.01)	$ (0.38)	$ (0.02)
Unrealized net holding losses arising during the period, net of tax	$ (1,950,515)	$ (201,627)	$ (8,326,556)	$ (987,801)
Reclassification adjustment for (gains) losses included in net loss	15,910	(2,403)	15,141	(115,452)
Other comprehensive loss	(1,934,605)	(204,030)	(8,311,415)	(1,103,253)
Comprehensive loss	$ (2,186,035)	$ (270,879)	$ (11,285,521)	$ (1,291,618)

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, 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 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 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
Balance (in shares) at Dec. 31, 2021	7,745,404
Balance at Dec. 31, 2021	$ 774,541	22,948,637	2,521,730	(8,663,152)	17,581,756
Common stock issued, $7 per share (in shares)	1,518
Common stock issued, $7 per share	$ 152	10,474	0	0	10,626
Costs associated with common stock issued	0	(3,653)	0	0	(3,653)
Other comprehensive loss	0	0	(8,311,415)	0	(8,311,415)
Net loss	$ 0	0	0	(2,974,106)	(2,974,106)
Balance (in shares) at Sep. 30, 2022	7,746,922
Balance at Sep. 30, 2022	$ 774,693	22,955,458	(5,789,685)	(11,637,258)	6,303,208
Balance (in shares) at Jun. 30, 2022	7,746,922
Balance at Jun. 30, 2022	$ 774,693	22,955,458	(3,855,080)	(11,385,828)	8,489,243
Common stock issued, $7 per share	0	0	0	0	0
Costs associated with common stock issued	0	0	0	0	0
Other comprehensive loss	0	0	(1,934,605)	0	(1,934,605)
Net loss	$ 0	0	0	(251,430)	(251,430)
Balance (in shares) at Sep. 30, 2022	7,746,922
Balance at Sep. 30, 2022	$ 774,693	$ 22,955,458	$ (5,789,685)	$ (11,637,258)	$ 6,303,208

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2022	Sep. 30, 2021
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, 2022	Sep. 30, 2021
Net loss	$ (2,974,106)	$ (188,365)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	34,269	25,912
Net (gains) losses realized on the sale of securities	15,288	(218,013)
Unrealized (gains) losses on equity securities	1,704,079	(63,119)
Change in fair value of funds withheld embedded derivative	1,090,435	483,874
Amortization of investment securities, net	122,226	134,482
Deferred acquisition costs capitalized	(358,384)	(338,108)
Deferred acquisition costs amortized	900,532	916,698
Value of business acquired amortized	69,315	69,315
Interest credited on deposit type contracts	1,221,761	1,257,102
(Increase) decrease in operating assets:
Change in funds withheld	(1,672,678)	(1,982,017)
Investment income due and accrued	84,483	(209,789)
Reinsurance related assets	(259,236)	(42,598)
Other assets	(689,873)	1,209,724
Increase (decrease) in operating liabilities:
Policyowner benefit reserves	3,408,118	3,292,676
Dividend Accumulation	2,458	2,816
Advance premiums	22,168	24,868
Other liabilities	1,101,026	823,821
Accounts payable and accrued expenses	(481,892)	(1,356,088)
Net cash provided by operating activities	3,339,989	3,843,191
Cash Flows from investing activities:
Purchase of equity investments	(1,196,212)	(948,197)
Purchase of mortgage investments	(4,020,252)	(2,254,095)
Proceeds from equity sales	422,909	422,035
Proceeds from mortgage repayments	3,566,093	1,644,799
Transfers from funds withheld	0	200,000
(Increase) decrease in policy loans	138,639	(14,820)
Purchase of property, equipment and software	(56,401)	(78,037)
Net cash used in investing activities	(3,593,521)	(2,173,841)
Cash Flows from financing activities:
Receipts on deposit-type contracts	4,431,894	3,210,990
Withdrawals on deposit-type contracts	(1,752,421)	(1,423,980)
Repayment of FHLB advance	(1,000,000)	0
Proceeds received from issuance of common stock, net of costs of issuance	6,973	(98,290)
Net cash provided by financing activities	1,686,446	1,688,720
Net increase in cash and cash equivalents	1,432,914	3,358,070
Cash and Cash Equivalents:
Beginning	7,955,348	4,320,759
Ending	9,388,262	7,678,829
Supplemental Disclosure of Non-Cash Information
Funds withheld assumed deposits on deposit-type contracts	639,610	1,370,136
Funds withheld assumed withdrawals on deposit-type contracts	(915,520)	(1,388,702)
Commissions and expense allowances deducted from funds withheld	(908,074)	(936,355)
Fixed Income Investments [Member]
Cash Flows from investing activities:
Purchase of fixed income investments	(3,568,922)	(2,450,108)
Proceeds from fixed income sales and repayments	$ 1,120,625	$ 1,304,582

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 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, 2023. fourth 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, 2022 not December 31, 2022 not 10 December 31, 2021. Principles of consolidation Area of Operation: Reclassifications no Common stock and income (loss) per share: September 30, 2022, December 31, 2021, 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 nine September 30, 2022 2021 three September 30, 2022 2021 no nine three September 30, 2022 2021. New accounting standards Leases In February 2016, 12 two no not The adoption of this guidance did not 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 was 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, 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, 2022
Notes to Financial Statements
Investment Holdings [Text Block]	Note 2. Investments Fixed Maturity The amortized cost and fair value of available for sale investments as of September 30, 2022 December 31, 2021 September 30, 2022 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 303,580 $ 22,594 $ - $ 326,174 Corporate bonds 19,492,309 1,395 (3,589,357 ) 15,904,347 Municipal bonds 6,233,800 4,564 (743,494 ) 5,494,870 Redeemable preferred stock 4,154,969 344 (517,897 ) 3,637,416 Mortgage backed and asset backed securities 7,941,933 7,099 (810,046 ) 7,138,986 Total available for sale $ 38,126,591 $ 35,996 $ (5,660,794 ) $ 32,501,793 December 31, 2021 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 303,195 $ 144,570 $ - $ 447,765 Corporate bonds 19,397,461 2,101,518 (177,700 ) 21,321,279 Municipal bonds 6,306,387 671,263 (14,292 ) 6,963,358 Redeemable preferred stock 3,612,625 29,995 (21,094 ) 3,621,526 Mortgage backed and asset backed securities 5,636,371 22,617 (70,259 ) 5,588,729 Total available for sale $ 35,256,039 $ 2,969,963 $ (283,345 ) $ 37,942,657 The amortized cost and fair value of debt securities as of September 30, 2022 December 31, 2021, may may As of September 30, 2022 As of December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 509,710 $ 510,596 $ - $ - After one year through five years 1,661,229 1,576,823 1,987,421 2,087,132 After five years through ten years 2,496,373 2,309,064 2,540,089 2,865,020 More than 10 years 21,362,377 17,328,908 21,479,533 23,780,250 Redeemable preferred stocks 4,154,969 3,637,416 3,612,625 3,621,526 Mortgage backed and asset backed securities 7,941,933 7,138,986 5,636,371 5,588,729 Total amortized cost and fair value $ 38,126,591 $ 32,501,793 $ 35,256,039 $ 37,942,657 Proceeds from the sale of securities, maturities, and asset paydowns in the nine September 30, 2022 2021 Nine Months Ended September 30, (unaudited) 2022 2021 Gross gains $ 3,617 $ 218,411 Gross losses (18,905 ) (398 ) Realized gains (losses) $ (15,288 ) $ 218,013 Proceeds from the sale of securities, maturities, and asset paydowns in the three September 30, 2022 2021 Three Months Ended September 30, (unaudited) 2022 2021 Gross gains $ 453 $ 2,400 Gross losses (16,364 ) - Realized gains (losses) $ (15,911 ) $ 2,400 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, 2022 (unaudited) Available for sale: Fixed maturities: Corporate bonds $ 12,863,731 $ (2,450,764 ) $ 2,756,147 $ (1,138,593 ) $ 15,619,878 $ (3,589,357 ) Municipal bonds 4,966,342 (667,730 ) 319,229 (75,764 ) 5,285,571 (743,494 ) Redeemable preferred stock 3,093,948 (474,776 ) 268,125 (43,121 ) 3,362,073 (517,897 ) Mortgage backed and asset backed securities 3,956,982 (374,841 ) 2,199,861 (435,205 ) 6,156,843 (810,046 ) Total fixed maturities $ 24,881,003 $ (3,968,111 ) $ 5,543,362 $ (1,692,683 ) $ 30,424,365 $ (5,660,794 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2021 Available for sale: Fixed maturities: Corporate bonds $ 4,496,456 $ (177,700 ) $ - $ - $ 4,496,456 $ (177,700 ) Municipal bonds 927,122 (14,292 ) - - 927,122 (14,292 ) Redeemable preferred stock 1,394,650 (21,094 ) - - 1,394,650 (21,094 ) Mortgage backed and asset backed securities 4,386,306 (70,259 ) - - 4,386,306 (70,259 ) Total fixed maturities $ 11,204,534 $ (283,345 ) $ - $ - $ 11,204,534 $ (283,345 ) Unrealized losses occur from market price declines that may The total number of available for sale fixed maturity securities in the investment portfolio in an unrealized loss position as of September 30, 2022 218, December 31, 2021 September 30, 2022 December 31, 2021. 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, 2022 December 31, 2021 September 30, 2022 December 31, 2021 (unaudited) Commercial mortgage loans by property type Condominium $ 1,622,657 $ 1,960,547 Multi-property 1,149,502 1,157,950 Multi-family 335,141 534,645 Retail 1,000,000 - Total commercial mortgages $ 4,107,300 $ 3,653,142 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, 2022 December 31, 2021 September 30, 2022 December 31, 2021 (unaudited) Loan to value ratio Over 60 to 70% $ 2,622,657 $ 1,960,547 Over 40 to 50% 335,141 339,335 Over 30 to 40% - 195,310 Over 10 to 20% 1,149,502 1,157,950 Total $ 4,107,300 $ 3,653,142 The Company’s mortgage loans by maturity date as of September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 (unaudited) Maturity Date One year or less $ 1,622,657 $ 2,155,857 After one year through five years 2,484,643 1,497,285 Total $ 4,107,300 $ 3,653,142 The Company had no mortgage loans that were on non-accrued status as of September 30, 2022 December 31, 2021. September 30, 2022 December 31, 2021. not September 30, 2022 December 31, 2021. Investment Income, Net of Expenses The components of net investment income for the nine September 30, 2022 2021 Nine Months Ended September 30, 2022 2021 (unaudited) Fixed maturities $ 856,256 $ 834,464 Mortgages 207,865 281,718 Equity securities 488,436 453,809 Funds withheld 2,932,068 2,675,956 Cash and cash equivalents 26,797 1,285 4,511,422 4,247,232 Less investment expenses (82,130 ) (104,105 ) $ 4,429,292 $ 4,143,127 The components of net investment income for the three September 30, 2022 2021 Three Months Ended September 30, 2022 2021 (unaudited) Fixed maturities $ 296,994 $ 280,823 Mortgages 91,515 $ 92,459 Equity securities 175,938 151,168 Funds withheld 1,310,559 1,026,680 Cash and cash equivalents 21,326 417 1,896,332 1,551,547 Less investment expenses (37,727 ) (39,992 ) $ 1,858,605 $ 1,511,555 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 loss. For the nine September 30, 2022, nine September 30, 2021, three September 30, 2022, three September 30, 2021,

Note 3 - Derivative Instruments

Note 3 - Derivative Instruments	9 Months Ended
	Sep. 30, 2022
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 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 is as follows: September 30, 2022 December 31, 2021 Derivative Derivative Balance Asset Liability Asset Liability Reported In (unaudited) Derivatives: Embedded derivatives: Funds withheld embedded derivative $ - $ 545,666 $ 544,768 $ - Funds withheld The following table shows the change in the fair value of the derivative financial instruments in the consolidated statements of comprehensive income: Nine Months Ending Nine Months Ending Balance September 30, 2022 September 30, 2021 Reported In (unaudited) (unaudited) Derivatives: Embedded derivatives: Change in funds withheld embedded derivative $ (1,090,435 ) $ (483,874 ) Net investment losses

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
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 not three nine September 30, 2022 2021. The table below presents the amounts of assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 December 31, 2021: September 30, 2022 Total Level 1 Level 2 Level 3 (unaudited) Fixed maturities: US Treasury securities $ 326,174 $ - $ 326,174 $ - Corporate bonds 15,904,347 - 15,722,747 181,600 Municipal bonds 5,494,870 - 5,494,870 - Redeemable preferred stock 3,637,416 - 3,637,416 - Mortgage backed and asset backed securities 7,138,986 - 7,138,986 - Total fixed maturities 32,501,793 - 32,320,193 181,600 Equities: Common stock 6,257,140 6,163,240 93,900 - Preferred stock 1,409,511 - 1,409,511 - Total equities 7,666,651 6,163,240 1,503,411 - Funds withheld embedded derivative (545,666 ) - - (545,666 ) Total $ 39,622,778 $ 6,163,240 $ 33,823,604 $ (364,066 ) December 31, 2021 Total Level 1 Level 2 Level 3 Fixed maturities: US Treasury securities $ 447,765 $ - $ 447,765 $ - Corporate bonds 21,321,279 - 21,139,679 181,600 Municipal bonds 6,963,358 - 6,963,358 - Redeemable preferred stock 3,621,526 - 3,621,526 - Mortgage backed and asset backed securities 5,588,729 - 5,588,729 - Total fixed maturities 37,942,657 - 37,761,057 181,600 Equities: Common stock 7,319,584 7,226,584 93,000 - Preferred stock 1,837,609 - 1,837,609 - Total equities 9,157,193 7,226,584 1,930,609 - Funds withheld embedded derivative 544,768 - - 544,768 Total $ 47,644,618 $ 7,226,584 $ 39,691,666 $ 726,368 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, 2022 Corporate Funds Bonds Withheld Fair value, beginning of period $ 181,600 $ 544,768 Investment related losses - (1,090,434 ) Fair value, end of period $ 181,600 $ (545,666 ) For the Three Months Ended September 30, 2022 Corporate Funds Bonds Withheld Fair value, beginning of period $ 181,600 $ (146,532 ) Investment related gains (losses), net - (399,134 ) Fair value, end of period $ 181,600 $ (545,666 ) 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, 2022 December 31, 2021 September 30, 2022 (unaudited) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 9,388,262 $ 9,388,262 $ 9,388,262 $ - $ - Mortgage loans on real estate 4,107,300 4,107,300 - - 4,107,300 Investment income due and accrued 614,021 614,021 - - 614,021 Funds withheld 49,635,986 49,090,320 - - 49,090,320 Policy loans 34,702 34,702 - - 34,702 Total Financial Assets (excluding available for sale investments) $ 63,780,271 $ 63,234,605 $ 9,388,262 $ - $ 53,846,343 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 79,193,197 67,052,494 - - 67,052,494 Total Financial Liabilities $ 80,193,197 $ 68,052,494 $ - $ - $ 68,052,494 December 31, 2021 Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 7,955,348 $ 7,955,348 $ 7,955,348 $ - $ - Mortgage loans on real estate 3,653,142 3,653,142 - - 3,653,142 Investment income due and accrued 698,504 698,504 - - 698,504 Funds withheld 48,474,206 49,018,974 - - 49,018,974 Policy loans 173,341 173,341 - - 173,341 Total Financial Assets (excluding available for sale investments) $ 60,954,541 $ 61,499,309 $ 7,955,348 $ - $ 53,543,961 Financial Liabilities: Federal Home Loan Bank advance $ 2,000,000 $ 2,000,000 $ - $ - $ 2,000,000 Policyholder deposits in deposit-type contracts 75,567,873 78,359,733 - - 78,359,733 Total Financial Liabilities $ 77,567,873 $ 80,359,733 $ - $ - $ 80,359,733

Note 5 - Income Tax Provision

Note 5 - Income Tax Provision	9 Months Ended
	Sep. 30, 2022
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, 2022 2021 The net operating loss carryforwards for the Company are $9,198,976 as of December 31, 2021 September 30, 2022. September 30, 2022 December 31, 2021.

Note 6 - Subsequent Events

Note 6 - Subsequent Events	9 Months Ended
	Sep. 30, 2022
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 14, 2022, October 1, 2022 2020

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
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, 2022 not December 31, 2022 not 10 December 31, 2021.
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, 2022, December 31, 2021, 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 nine September 30, 2022 2021 three September 30, 2022 2021 no nine three September 30, 2022 2021.
New Accounting Pronouncements, Policy [Policy Text Block]	New accounting standards Leases In February 2016, 12 two no not The adoption of this guidance did not 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 was 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, 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, 2022
Notes Tables
Debt Securities, Available-for-Sale [Table Text Block]	September 30, 2022 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 303,580 $ 22,594 $ - $ 326,174 Corporate bonds 19,492,309 1,395 (3,589,357 ) 15,904,347 Municipal bonds 6,233,800 4,564 (743,494 ) 5,494,870 Redeemable preferred stock 4,154,969 344 (517,897 ) 3,637,416 Mortgage backed and asset backed securities 7,941,933 7,099 (810,046 ) 7,138,986 Total available for sale $ 38,126,591 $ 35,996 $ (5,660,794 ) $ 32,501,793 December 31, 2021 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 303,195 $ 144,570 $ - $ 447,765 Corporate bonds 19,397,461 2,101,518 (177,700 ) 21,321,279 Municipal bonds 6,306,387 671,263 (14,292 ) 6,963,358 Redeemable preferred stock 3,612,625 29,995 (21,094 ) 3,621,526 Mortgage backed and asset backed securities 5,636,371 22,617 (70,259 ) 5,588,729 Total available for sale $ 35,256,039 $ 2,969,963 $ (283,345 ) $ 37,942,657
Investments Classified by Contractual Maturity Date [Table Text Block]	As of September 30, 2022 As of December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 509,710 $ 510,596 $ - $ - After one year through five years 1,661,229 1,576,823 1,987,421 2,087,132 After five years through ten years 2,496,373 2,309,064 2,540,089 2,865,020 More than 10 years 21,362,377 17,328,908 21,479,533 23,780,250 Redeemable preferred stocks 4,154,969 3,637,416 3,612,625 3,621,526 Mortgage backed and asset backed securities 7,941,933 7,138,986 5,636,371 5,588,729 Total amortized cost and fair value $ 38,126,591 $ 32,501,793 $ 35,256,039 $ 37,942,657
Realized Gain (Loss) on Investments [Table Text Block]	Nine Months Ended September 30, (unaudited) 2022 2021 Gross gains $ 3,617 $ 218,411 Gross losses (18,905 ) (398 ) Realized gains (losses) $ (15,288 ) $ 218,013 Three Months Ended September 30, (unaudited) 2022 2021 Gross gains $ 453 $ 2,400 Gross losses (16,364 ) - Realized gains (losses) $ (15,911 ) $ 2,400
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, 2022 (unaudited) Available for sale: Fixed maturities: Corporate bonds $ 12,863,731 $ (2,450,764 ) $ 2,756,147 $ (1,138,593 ) $ 15,619,878 $ (3,589,357 ) Municipal bonds 4,966,342 (667,730 ) 319,229 (75,764 ) 5,285,571 (743,494 ) Redeemable preferred stock 3,093,948 (474,776 ) 268,125 (43,121 ) 3,362,073 (517,897 ) Mortgage backed and asset backed securities 3,956,982 (374,841 ) 2,199,861 (435,205 ) 6,156,843 (810,046 ) Total fixed maturities $ 24,881,003 $ (3,968,111 ) $ 5,543,362 $ (1,692,683 ) $ 30,424,365 $ (5,660,794 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2021 Available for sale: Fixed maturities: Corporate bonds $ 4,496,456 $ (177,700 ) $ - $ - $ 4,496,456 $ (177,700 ) Municipal bonds 927,122 (14,292 ) - - 927,122 (14,292 ) Redeemable preferred stock 1,394,650 (21,094 ) - - 1,394,650 (21,094 ) Mortgage backed and asset backed securities 4,386,306 (70,259 ) - - 4,386,306 (70,259 ) Total fixed maturities $ 11,204,534 $ (283,345 ) $ - $ - $ 11,204,534 $ (283,345 )
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, 2022 December 31, 2021 (unaudited) Commercial mortgage loans by property type Condominium $ 1,622,657 $ 1,960,547 Multi-property 1,149,502 1,157,950 Multi-family 335,141 534,645 Retail 1,000,000 - Total commercial mortgages $ 4,107,300 $ 3,653,142
Schedule of Mortage Loans by Loan-to-Value Ratio [Table Text Block]	September 30, 2022 December 31, 2021 (unaudited) Loan to value ratio Over 60 to 70% $ 2,622,657 $ 1,960,547 Over 40 to 50% 335,141 339,335 Over 30 to 40% - 195,310 Over 10 to 20% 1,149,502 1,157,950 Total $ 4,107,300 $ 3,653,142
Schedule of Mortgage Loans by Maturity Date [Table Text Block]	September 30, 2022 December 31, 2021 (unaudited) Maturity Date One year or less $ 1,622,657 $ 2,155,857 After one year through five years 2,484,643 1,497,285 Total $ 4,107,300 $ 3,653,142
Investment Income [Table Text Block]	Nine Months Ended September 30, 2022 2021 (unaudited) Fixed maturities $ 856,256 $ 834,464 Mortgages 207,865 281,718 Equity securities 488,436 453,809 Funds withheld 2,932,068 2,675,956 Cash and cash equivalents 26,797 1,285 4,511,422 4,247,232 Less investment expenses (82,130 ) (104,105 ) $ 4,429,292 $ 4,143,127 Three Months Ended September 30, 2022 2021 (unaudited) Fixed maturities $ 296,994 $ 280,823 Mortgages 91,515 $ 92,459 Equity securities 175,938 151,168 Funds withheld 1,310,559 1,026,680 Cash and cash equivalents 21,326 417 1,896,332 1,551,547 Less investment expenses (37,727 ) (39,992 ) $ 1,858,605 $ 1,511,555

Note 3 - Derivative Instrumen_2

Note 3 - Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block]	September 30, 2022 December 31, 2021 Derivative Derivative Balance Asset Liability Asset Liability Reported In (unaudited) Derivatives: Embedded derivatives: Funds withheld embedded derivative $ - $ 545,666 $ 544,768 $ - Funds withheld Nine Months Ending Nine Months Ending Balance September 30, 2022 September 30, 2021 Reported In (unaudited) (unaudited) Derivatives: Embedded derivatives: Change in funds withheld embedded derivative $ (1,090,435 ) $ (483,874 ) Net investment losses

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2022 Total Level 1 Level 2 Level 3 (unaudited) Fixed maturities: US Treasury securities $ 326,174 $ - $ 326,174 $ - Corporate bonds 15,904,347 - 15,722,747 181,600 Municipal bonds 5,494,870 - 5,494,870 - Redeemable preferred stock 3,637,416 - 3,637,416 - Mortgage backed and asset backed securities 7,138,986 - 7,138,986 - Total fixed maturities 32,501,793 - 32,320,193 181,600 Equities: Common stock 6,257,140 6,163,240 93,900 - Preferred stock 1,409,511 - 1,409,511 - Total equities 7,666,651 6,163,240 1,503,411 - Funds withheld embedded derivative (545,666 ) - - (545,666 ) Total $ 39,622,778 $ 6,163,240 $ 33,823,604 $ (364,066 ) December 31, 2021 Total Level 1 Level 2 Level 3 Fixed maturities: US Treasury securities $ 447,765 $ - $ 447,765 $ - Corporate bonds 21,321,279 - 21,139,679 181,600 Municipal bonds 6,963,358 - 6,963,358 - Redeemable preferred stock 3,621,526 - 3,621,526 - Mortgage backed and asset backed securities 5,588,729 - 5,588,729 - Total fixed maturities 37,942,657 - 37,761,057 181,600 Equities: Common stock 7,319,584 7,226,584 93,000 - Preferred stock 1,837,609 - 1,837,609 - Total equities 9,157,193 7,226,584 1,930,609 - Funds withheld embedded derivative 544,768 - - 544,768 Total $ 47,644,618 $ 7,226,584 $ 39,691,666 $ 726,368
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	For the Nine Months Ended September 30, 2022 Corporate Funds Bonds Withheld Fair value, beginning of period $ 181,600 $ 544,768 Investment related losses - (1,090,434 ) Fair value, end of period $ 181,600 $ (545,666 ) For the Three Months Ended September 30, 2022 Corporate Funds Bonds Withheld Fair value, beginning of period $ 181,600 $ (146,532 ) Investment related gains (losses), net - (399,134 ) Fair value, end of period $ 181,600 $ (545,666 )
Fair Value, by Balance Sheet Grouping [Table Text Block]	September 30, 2022 (unaudited) Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 9,388,262 $ 9,388,262 $ 9,388,262 $ - $ - Mortgage loans on real estate 4,107,300 4,107,300 - - 4,107,300 Investment income due and accrued 614,021 614,021 - - 614,021 Funds withheld 49,635,986 49,090,320 - - 49,090,320 Policy loans 34,702 34,702 - - 34,702 Total Financial Assets (excluding available for sale investments) $ 63,780,271 $ 63,234,605 $ 9,388,262 $ - $ 53,846,343 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 79,193,197 67,052,494 - - 67,052,494 Total Financial Liabilities $ 80,193,197 $ 68,052,494 $ - $ - $ 68,052,494 December 31, 2021 Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 7,955,348 $ 7,955,348 $ 7,955,348 $ - $ - Mortgage loans on real estate 3,653,142 3,653,142 - - 3,653,142 Investment income due and accrued 698,504 698,504 - - 698,504 Funds withheld 48,474,206 49,018,974 - - 49,018,974 Policy loans 173,341 173,341 - - 173,341 Total Financial Assets (excluding available for sale investments) $ 60,954,541 $ 61,499,309 $ 7,955,348 $ - $ 53,543,961 Financial Liabilities: Federal Home Loan Bank advance $ 2,000,000 $ 2,000,000 $ - $ - $ 2,000,000 Policyholder deposits in deposit-type contracts 75,567,873 78,359,733 - - 78,359,733 Total Financial Liabilities $ 77,567,873 $ 80,359,733 $ - $ - $ 80,359,733

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, 2022 $ / shares shares	Sep. 30, 2021 shares	Sep. 30, 2022 $ / shares shares	Sep. 30, 2021 shares	Dec. 31, 2021 $ / shares shares
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, Outstanding, Ending Balance (in shares)	7,746,922		7,746,922		7,745,404
Common Stock, Shares, Issued (in shares)	7,746,922		7,746,922		7,745,404
Weighted Average Number of Shares Outstanding, Basic, Total (in shares)	7,746,922	7,745,404	7,746,187	7,742,894

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Proceeds from Sale, Maturity and Collection of Investments, Total	$ 939,113	$ 460,583	$ 5,109,627	$ 3,371,416
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	$ 5,660,794		$ 5,660,794		$ 283,345
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	218		218		76
Other-than-temporary Impairment Loss, Debt Securities, Available-for-Sale			$ 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
Allowance for Loan and Lease Losses, Real Estate	0		0		$ 0
Debt and Equity Securities, Unrealized Gain (Loss), Total	(240,450)	(40,178)	(1,704,079)	63,119
Debt and Equity Securities, Realized Gain (Loss), Total	(15,911)	2,400	(15,288)	218,013
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total	$ (399,134)	$ (238,754)	$ (1,090,435)	$ (483,874)
Fixed Income Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	136		136		29
Collateralized Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	$ 810,046		$ 810,046		$ 70,259
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	66		66		41
Preferred Stock [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	16		16		6

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, 2022	Dec. 31, 2021
Cost or Amortized Cost	$ 38,126,591	$ 35,256,039
Debt Securities, Gross Unrealized Gains	35,996
Debt Securities, Gross Unrealized Losses	(5,660,794)	(283,345)
Investments in available-for-sale securities, at fair value	32,501,793	37,942,657
Debt Securities, Gross Unrealized Gain		2,969,963
US Treasury Securities [Member]
Cost or Amortized Cost	303,580	303,195
Debt Securities, Gross Unrealized Gains	22,594
Debt Securities, Gross Unrealized Losses	0	0
Investments in available-for-sale securities, at fair value	326,174	447,765
Debt Securities, Gross Unrealized Gain		144,570
Corporate Debt Securities [Member]
Cost or Amortized Cost	19,492,309	19,397,461
Debt Securities, Gross Unrealized Gains	1,395
Debt Securities, Gross Unrealized Losses	(3,589,357)	(177,700)
Investments in available-for-sale securities, at fair value	15,904,347	21,321,279
Debt Securities, Gross Unrealized Gain		2,101,518
US States and Political Subdivisions Debt Securities [Member]
Cost or Amortized Cost	6,233,800	6,306,387
Debt Securities, Gross Unrealized Gains	4,564
Debt Securities, Gross Unrealized Losses	(743,494)	(14,292)
Investments in available-for-sale securities, at fair value	5,494,870	6,963,358
Debt Securities, Gross Unrealized Gain		671,263
Redeemable Preferred Stock [Member]
Cost or Amortized Cost	4,154,969	3,612,625
Debt Securities, Gross Unrealized Gains	344
Debt Securities, Gross Unrealized Losses	(517,897)	(21,094)
Investments in available-for-sale securities, at fair value	3,637,416	3,621,526
Debt Securities, Gross Unrealized Gain		29,995
Collateralized Mortgage-Backed Securities [Member]
Cost or Amortized Cost	7,941,933	5,636,371
Debt Securities, Gross Unrealized Gains	7,099
Debt Securities, Gross Unrealized Losses	(810,046)	(70,259)
Investments in available-for-sale securities, at fair value	$ 7,138,986	5,588,729
Debt Securities, Gross Unrealized Gain		$ 22,617

Note 2 - Investments - Amorti_2

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
One year or less, amortized cost	$ 509,710	$ 0
One year or less, fair value	510,596	0
After one year through five years, amortized cost	1,661,229	1,987,421
After one year through five years, fair value	1,576,823	2,087,132
After five years through ten years, amortized cost	2,496,373	2,540,089
After five years through ten years, fair value	2,309,064	2,865,020
More than 10 years, amortized cost	21,362,377	21,479,533
More than 10 years, fair value	17,328,908	23,780,250
Available for sale securities, amortized cost	38,126,591	35,256,039
Available for sale fixed maturity securities (amortized cost: $38,126,591 and $35,256,039 as of September 30, 2022 and December 31, 2021, respectively)	32,501,793	37,942,657
Redeemable Preferred Stock [Member]
Debt securities, amortized cost	4,154,969	3,612,625
Debt securities, fair value	3,637,416	3,621,526
Available for sale securities, amortized cost	4,154,969	3,612,625
Available for sale fixed maturity securities (amortized cost: $38,126,591 and $35,256,039 as of September 30, 2022 and December 31, 2021, respectively)	3,637,416	3,621,526
Collateralized Mortgage-Backed Securities [Member]
Debt securities, amortized cost	7,941,933	5,636,371
Debt securities, fair value	7,138,986	5,588,729
Available for sale securities, amortized cost	7,941,933	5,636,371
Available for sale fixed maturity securities (amortized cost: $38,126,591 and $35,256,039 as of September 30, 2022 and December 31, 2021, respectively)	$ 7,138,986	$ 5,588,729

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Gross gains	$ 453	$ 2,400	$ 3,617	$ 218,411
Gross losses	(16,364)	0	(18,905)	(398)
Realized gains (losses)	$ (15,911)	$ 2,400	$ (15,288)	$ 218,013

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Available-for-sale securities, less than 12 months, fair value	$ 24,881,003	$ 11,204,534
Available-for-sale securities, less than 12 months, unrealized loss	(3,968,111)	(283,345)
Available-for-sale securities, greater than 12 months, fair value	5,543,362	0
Available-for-sale securities, greater than 12 months, unrealized loss	(1,692,683)	0
Available-for-sale securities, fair value	30,424,365	11,204,534
Debt Securities, Gross Unrealized Loss	(5,660,794)	(283,345)
Available-for-sale securities, greater than 12 months, unrealized loss	1,692,683	0
Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	12,863,731	4,496,456
Available-for-sale securities, less than 12 months, unrealized loss	(2,450,764)	(177,700)
Available-for-sale securities, greater than 12 months, fair value	2,756,147	0
Available-for-sale securities, greater than 12 months, unrealized loss	(1,138,593)	0
Available-for-sale securities, fair value	15,619,878	4,496,456
Debt Securities, Gross Unrealized Loss	(3,589,357)	(177,700)
Available-for-sale securities, greater than 12 months, unrealized loss	1,138,593	0
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	4,966,342	927,122
Available-for-sale securities, less than 12 months, unrealized loss	(667,730)	(14,292)
Available-for-sale securities, greater than 12 months, fair value	319,229	0
Available-for-sale securities, greater than 12 months, unrealized loss	(75,764)	0
Available-for-sale securities, fair value	5,285,571	927,122
Debt Securities, Gross Unrealized Loss	(743,494)	(14,292)
Available-for-sale securities, greater than 12 months, unrealized loss	75,764	0
Redeemable Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	3,093,948	1,394,650
Available-for-sale securities, less than 12 months, unrealized loss	(474,776)	(21,094)
Available-for-sale securities, greater than 12 months, fair value	268,125	0
Available-for-sale securities, greater than 12 months, unrealized loss	(43,121)	0
Available-for-sale securities, fair value	3,362,073	1,394,650
Debt Securities, Gross Unrealized Loss	(517,897)	(21,094)
Available-for-sale securities, greater than 12 months, unrealized loss	43,121	0
Collateralized Mortgage-Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	3,956,982	4,386,306
Available-for-sale securities, less than 12 months, unrealized loss	(374,841)	(70,259)
Available-for-sale securities, greater than 12 months, fair value	2,199,861	0
Available-for-sale securities, greater than 12 months, unrealized loss	(435,205)	0
Available-for-sale securities, fair value	6,156,843	4,386,306
Debt Securities, Gross Unrealized Loss	(810,046)	(70,259)
Available-for-sale securities, greater than 12 months, unrealized loss	$ 435,205	$ 0

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans by Property Type (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Total commercial mortgages	$ 4,107,300	$ 3,653,142
Condominium [Member]
Total commercial mortgages	1,622,657	1,960,547
Multi-property [Member]
Total commercial mortgages	1,149,502	1,157,950
Multifamily [Member]
Total commercial mortgages	335,141	534,645
Retail [Member]
Total commercial mortgages	$ 1,000,000	$ 0

Note 2 - Investments - Mortga_2

Note 2 - Investments - Mortgage Loans by Loan-to-value Ratio (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Total commercial mortgages	$ 4,107,300	$ 3,653,142
Debt-to-Value Ratio, 60 to 70 Percent [Member]
Total commercial mortgages	2,622,657	1,960,547
Debt-to-Value Ratio, 40 to 50 Percent [Member]
Total commercial mortgages	335,141	339,335
Debt-to-Value Ratio, 30 to 40 Percent [Member]
Total commercial mortgages	0	195,310
Debt-to-Value Ration, 10 to 30 Percent [Member]
Total commercial mortgages	$ 1,149,502	$ 1,157,950

Note 2 - Investments - Mortga_3

Note 2 - Investments - Mortgage Loans by Maturity Date (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
One year or less	$ 1,622,657	$ 2,155,857
After one year through five years	2,484,643	1,497,285
Total commercial mortgages	$ 4,107,300	$ 3,653,142

Note 2 - Investments - Componen

Note 2 - Investments - Components of Net Investment Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investment income	$ 1,896,332	$ 1,551,547	$ 4,511,422	$ 4,247,232
Less investment expenses	(37,727)	(39,992)	(82,130)	(104,105)
Investment income, net	1,858,605	1,511,555	4,429,292	4,143,127
Fixed Maturities [Member]
Investment income	296,994	280,823	856,256	834,464
Mortgages [Member]
Investment income	91,515	92,459	207,865	281,718
Equity Securities [Member]
Investment income	175,938	151,168	488,436	453,809
Funds Withheld on Coinsurance Assets [Member]
Investment income	1,310,559	1,026,680	2,932,068	2,675,956
Cash and Cash Equivalents [Member]
Investment income	$ 21,326	$ 417	$ 26,797	$ 1,285

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Funds withheld embedded derivative, asset	$ 0		$ 0		$ 544,768
Funds withheld embedded derivative	545,666		545,666		0
Funds withheld embedded derivative, asset	0		0		$ 544,768
Change in fair value of funds withheld embedded derivative	$ 399,134	$ 238,754	$ 1,090,435	$ 483,874

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Derivative Credit Risk Valuation Adjustment, Derivative Liabilities	$ 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, 2022	Dec. 31, 2021
Investments in available-for-sale securities, at fair value	$ 32,501,793	$ 37,942,657
Funds withheld embedded derivative	545,666	0
Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	32,501,793	37,942,657
Equity securities, fair value	7,666,651	9,157,193
Funds withheld embedded derivative		544,768
Investments, fair value	39,622,778	47,644,618
Fair Value, Recurring [Member] | Funds Withheld on Coinsurance Assets [Member]
Funds withheld embedded derivative	(545,666)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	0	0
Equity securities, fair value	6,163,240	7,226,584
Funds withheld embedded derivative		0
Investments, fair value	6,163,240	7,226,584
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Funds Withheld on Coinsurance Assets [Member]
Funds withheld embedded derivative	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	32,320,193	37,761,057
Equity securities, fair value	1,503,411	1,930,609
Funds withheld embedded derivative		0
Investments, fair value	33,823,604	39,691,666
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Funds Withheld on Coinsurance Assets [Member]
Funds withheld embedded derivative	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investments in available-for-sale securities, at fair value	181,600	181,600
Equity securities, fair value	0	0
Funds withheld embedded derivative		544,768
Investments, fair value	(364,066)	726,368
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Funds Withheld on Coinsurance Assets [Member]
Funds withheld embedded derivative	(545,666)
US Treasury Securities [Member]
Investments in available-for-sale securities, at fair value	326,174	447,765
US Treasury Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	326,174	447,765
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investments in available-for-sale securities, at fair value	0	0
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	326,174	447,765
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
Corporate Debt Securities [Member]
Investments in available-for-sale securities, at fair value	15,904,347	21,321,279
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	15,904,347	21,321,279
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
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	15,722,747	21,139,679
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	181,600
US States and Political Subdivisions Debt Securities [Member]
Investments in available-for-sale securities, at fair value	5,494,870	6,963,358
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	5,494,870	6,963,358
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
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	5,494,870	6,963,358
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
Redeemable Preferred Stock [Member]
Investments in available-for-sale securities, at fair value	3,637,416	3,621,526
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	3,637,416	3,621,526
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
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	3,637,416	3,621,526
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
Collateralized Mortgage-Backed Securities [Member]
Investments in available-for-sale securities, at fair value	7,138,986	5,588,729
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Investments in available-for-sale securities, at fair value	7,138,986	5,588,729
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
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investments in available-for-sale securities, at fair value	7,138,986	5,588,729
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
Common Stock [Member] | Fair Value, Recurring [Member]
Equity securities, fair value	6,257,140	7,319,584
Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities, fair value	6,163,240	7,226,584
Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities, fair value	93,900	93,000
Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities, fair value	0	0
Preferred Stock [Member] | Fair Value, Recurring [Member]
Equity securities, fair value	1,409,511	1,837,609
Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities, fair value	0	0
Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities, fair value	1,409,511	1,837,609
Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities, fair value	$ 0	$ 0

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	9 Months Ended
	Jun. 30, 2021	Sep. 30, 2022
Corporate Debt Securities [Member]
Fair value, beginning of period	$ 181,600	$ 181,600
Investment related losses	0	0
Fair value, end of period	181,600	181,600
Funds Withheld on Coinsurance Assets [Member]
Fair value, beginning of period	(146,532)	544,768
Investment related losses	(399,134)	(1,090,434)
Fair value, end of period	$ (545,666)	$ (545,666)

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, 2022	Dec. 31, 2021
Reported Value Measurement [Member]
Cash and cash equivalents	$ 9,388,262	$ 7,955,348
Mortgage loans on real estate	4,107,300	3,653,142
Investment income due and accrued	614,021	698,504
Funds withheld	49,635,986	48,474,206
Policy loans	34,702	173,341
Total Financial Assets (excluding available for sale investments)	63,780,271	60,954,541
Federal Home Loan Bank advance	1,000,000	2,000,000
Policyholder deposits in deposit-type contracts	79,193,197	75,567,873
Total Financial Liabilities	80,193,197	77,567,873
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	9,388,262	7,955,348
Mortgage loans on real estate	4,107,300	3,653,142
Investment income due and accrued	614,021	698,504
Funds withheld	49,090,320	49,018,974
Policy loans	34,702	173,341
Total Financial Assets (excluding available for sale investments)	63,234,605	61,499,309
Federal Home Loan Bank advance	1,000,000	2,000,000
Policyholder deposits in deposit-type contracts	67,052,494	78,359,733
Total Financial Liabilities	68,052,494	80,359,733
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	9,388,262	7,955,348
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)	9,388,262	7,955,348
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	4,107,300	3,653,142
Investment income due and accrued	614,021	698,504
Funds withheld	49,090,320	49,018,974
Policy loans	34,702	173,341
Total Financial Assets (excluding available for sale investments)	53,846,343	53,543,961
Federal Home Loan Bank advance	1,000,000	2,000,000
Policyholder deposits in deposit-type contracts	67,052,494	78,359,733
Total Financial Liabilities	$ 68,052,494	$ 80,359,733

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Expense (Benefit), Total	$ 0	$ 0
Deferred Income Tax Assets, Net	1,560,767		$ 1,560,767
Domestic Tax Authority [Member]
Operating Loss Carryforwards	$ 9,750,000		$ 9,198,976