US Alliance 10-Q 14 Nov 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	000-55627
Entity Registrant Name	US ALLIANCE CORPORATION
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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		7,748,922
Entity Central Index Key	0001463913
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Assets
Available for sale fixed maturity securities (amortized cost: $80,998,137 and $78,653,792, net of allowances for credit losses of $0 and $0, as of September 30, 2024 and December 31, 2023, respectively)	$ 78,864,062	$ 74,509,520
Equity securities, at fair value	3,934,398	3,585,885
Limited partnership interests	415,721	389,827
Mortgage loans on real estate (net of allowance for credit losses of $53,794 and $21,644 as of September 30, 2024 and December 31, 2023, respectively)	25,662,587	19,617,253
Other invested assets	2,803,831	2,239,683
Policy loans	30,978	26,132
Real estate, net of depreciation	1,666,197	1,686,668
Total investments	113,377,774	102,054,968
Cash and cash equivalents	4,492,006	8,982,138
Investment income due and accrued	995,105	1,878,620
Reinsurance related assets	715,731	1,039,274
Deferred acquisition costs, net	4,134,810	4,751,497
Value of business acquired, net	2,356,658	2,425,973
Property, equipment and software, net	143,058	138,256
Goodwill	277,542	277,542
Federal and state income tax receivable	145,122	146,831
Deferred tax asset, net of valuation allowance	3,428,530	3,888,907
Other assets	1,616,333	500,630
Total assets	131,682,669	126,084,636
Liabilities:
Deposit-type contracts	78,637,567	78,063,888
Policyholder benefit reserves	38,275,547	34,233,185
Dividend accumulation	100,086	114,842
Advance premiums	180,166	151,711
Total policy liabilities	117,193,366	112,563,626
Accounts payable and accrued expenses	1,006,040	2,053,363
Federal Home Loan Bank advance	1,000,000	1,000,000
Other liabilities	156,760	136,570
Total liabilities	119,356,166	115,753,559
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,748,922 and 7,748,922 shares as of September 30, 2024 and December 31, 2023	774,893	774,893
Additional paid-in capital	22,964,490	22,964,490
Accumulated deficit	(10,139,272)	(10,491,934)
Accumulated other comprehensive loss	(1,273,608)	(2,916,372)
Total shareholders' equity	12,326,503	10,331,077
Total liabilities and shareholders' equity	$ 131,682,669	$ 126,084,636

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Available for sale securities, amortized cost	$ 80,998,137	$ 78,653,792
Available for sale securities, allowance for credit loss	0	0
Allowance for credit loss	$ 53,794	$ 21,644
Common stock, par value (in dollars per share)	$ 0.1	$ 0.1
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	7,748,922	7,748,922
Common stock, shares outstanding (in shares)	7,748,922	7,748,922

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income:
Premium income	$ 3,544,213	$ 3,353,042	$ 11,299,100	$ 9,955,527
Net investment income	1,310,732	1,803,369	5,306,212	5,092,863
Net investment gains (losses)	56,118	(257,552)	568,778	632,924
Other income	80,473	97,023	455,741	267,766
Total income	4,991,536	4,995,882	17,629,831	15,949,080
Expenses:
Death claims	815,287	901,546	2,938,512	2,621,079
Policyholder benefits	1,530,753	1,435,212	5,292,687	4,933,077
Increase in policyholder reserves	1,474,839	1,386,070	3,962,363	3,372,265
Commissions, net of deferrals	218,441	198,623	654,809	561,139
Amortization of deferred acquisition costs	349,402	368,263	1,046,775	1,059,974
Amortization of value of business acquired	23,105	23,105	69,315	69,315
Salaries & benefits	431,837	423,269	1,140,240	1,159,385
Other operating expenses	623,378	428,386	2,058,170	1,377,587
Total expense	5,467,042	5,164,474	17,162,871	15,153,821
Net income (loss) before tax	(475,506)	(168,592)	466,960	795,259
Deferred federal income tax (expense) benefit	103,134	0	(114,298)	0
Total federal income tax (expense) benefit	103,134	0	(114,298)	0
Net Income (loss)	$ (372,372)	$ (168,592)	$ 352,662	$ 795,259
Net income (loss) per common share, basic and diluted (in dollars per share)	$ (0.05)	$ (0.02)	$ 0.05	$ 0.1
Unrealized net holding gains (losses) arising during the period, net of tax	$ 1,634,813	$ (1,615,296)	$ 1,476,857	$ (1,316,832)
Reclassification adjustment for losses included in net income	120,845	0	165,907	589
Other comprehensive income (loss)	1,755,658	(1,615,296)	1,642,764	(1,316,243)
Comprehensive income (loss)	$ 1,383,286	$ (1,783,888)	$ 1,995,426	$ (520,984)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Total
Balance (in shares) at Dec. 31, 2022		7,746,922
Balance at Dec. 31, 2022	$ 0	$ 774,693	$ 0	$ 22,955,458	$ 0	$ (3,841,120)	$ (150,373)	$ (11,819,637)	$ (150,373)	$ 8,069,394
Common stock issued, $7 per share (in shares)		2,000
Common stock issued, $7 per share		$ 200		13,800		0		0		14,000
Costs associated with common stock issued		0		(4,768)		0		0		(4,768)
Other comprehensive loss		0		0		(1,316,243)		0		(1,316,243)
Net loss		$ 0		0		0		795,259		795,259
Balance (in shares) at Sep. 30, 2023		7,748,922
Balance at Sep. 30, 2023		$ 774,893		22,964,490		(5,157,363)		(11,174,751)		7,407,269
Balance (in shares) at Jun. 30, 2023		7,748,922
Balance at Jun. 30, 2023		$ 774,893		22,964,490		(3,542,067)		(11,006,159)		9,191,157
Common stock issued, $7 per share (in shares)		0
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		(1,615,296)		0		(1,615,296)
Net loss		$ 0		0		0		(168,592)		(168,592)
Balance (in shares) at Sep. 30, 2023		7,748,922
Balance at Sep. 30, 2023		$ 774,893		22,964,490		(5,157,363)		(11,174,751)		7,407,269
Balance (in shares) at Dec. 31, 2023		7,748,922
Balance at Dec. 31, 2023		$ 774,893		22,964,490		(2,916,372)		(10,491,934)		10,331,077
Other comprehensive loss		0		0		1,642,764		0		1,642,764
Net loss		$ 0		0		0		352,662		352,662
Balance (in shares) at Sep. 30, 2024		7,748,922
Balance at Sep. 30, 2024		$ 774,893		22,964,490		(1,273,608)		(10,139,272)		12,326,503
Balance (in shares) at Jun. 30, 2024		7,748,922
Balance at Jun. 30, 2024		$ 774,893		22,964,490		(3,029,266)		(9,766,900)		10,943,217
Other comprehensive loss		0		0		1,755,658		0		1,755,658
Net loss		$ 0		0		0		(372,372)		(372,372)
Balance (in shares) at Sep. 30, 2024		7,748,922
Balance at Sep. 30, 2024		$ 774,893		$ 22,964,490		$ (1,273,608)		$ (10,139,272)		$ 12,326,503

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals)	Sep. 30, 2023 $ / shares
Common stock, price per share (in dollars per share)	$ 7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Net loss	$ 352,662	$ 795,259
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	59,364	38,817
Net (gains) losses realized on the sale of securities and net credit losses recognized in operations	171,776	103,325
Unrealized (gains) losses on equity securities	(1,006,400)	(311,127)
Change in fair value of embedded derivative	265,846	(425,122)
(Accretion) amortization of investment securities, net	(497,386)	(236,651)
Deferred acquisition costs capitalized	(430,088)	(394,449)
Deferred acquisition costs amortized	1,046,775	1,059,975
Value of business acquired amortized	69,315	69,315
Interest credited on deposit type contracts	1,479,337	1,328,688
(Increase) decrease in operating assets: Investment income due and accrued	883,515	(525,563)
Reinsurance related assets	57,697	(772,248)
Deferred tax assets, net of valuation allowance	460,377	0
Other assets	(1,113,994)	(244,699)
Increase (decrease) in operating liabilities: Policyowner benefit reserves	4,042,362	3,414,010
Dividend accumulation	(14,756)	(3,513)
Advance premiums	28,455	(16,484)
Other liabilities	20,190	(1,532)
Accounts payable and accrued expenses	(1,047,323)	2,248,135
Net cash provided by operating activities	4,827,724	6,126,136
Cash Flows from investing activities:
Purchase of fixed income investments	(12,099,066)	(6,022,114)
Purchase of equity investments	(341,452)	(477,673)
Purchase of mortgage investments	(13,296,032)	(4,150,647)
Purchase of other invested assets	(165,197)	(810,545)
Proceeds from fixed income sales and repayments	9,172,094	3,528,290
Proceeds from equity sales	1,229,759	1,106,288
Proceeds from mortgage repayments	7,096,806	5,249,848
Proceeds from other invested assets	39,431	547,952
Increase in policy loans	(4,846)	9,615
Purchase of property, equipment and software	(43,695)	(209,659)
Net cash used in investing activities	(8,412,198)	(1,228,645)
Cash Flows from financing activities:
Receipts on deposit-type contracts	5,039,078	3,544,001
Withdrawals on deposit-type contracts	(5,944,736)	(6,389,402)
Proceeds received from issuance of common stock, net of costs of issuance	0	9,232
Net cash used in financing activities	(905,658)	(2,836,169)
Net increase (decrease) in cash and cash equivalents	(4,490,132)	2,061,322
Cash and Cash Equivalents:
Beginning	8,982,138	4,091,507
Ending	$ 4,492,006	$ 6,152,829

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. Description of Business and Significant Accounting Policies Description of business www.usalliancecorporation.com USAC has four The Company terminated its initial public offering on February 24, 2013. During the balance of 2013, the Company achieved approval of an array of life insurance and annuity products, began development of various distribution channels and commenced insurance operations and product sales. The Company sold its first insurance product on May 1, 2013. The Company continued to expand its product offerings and distribution channels throughout 2014 and 2015. On February 24, 2015, the Company commenced a warrant exercise offering set to expire on February 24, 2016. On February 24, 2016, the Company extended the offering until February 24, 2017 and made additional shares available for purchase. All outstanding warrants expired on April 1, 2016. The Company further extended this offering to February 24, 2024. During the 4th quarter of 2017, the Company began a private placement offering to accredited investors in the state of North Dakota. Both offerings were terminated in the second quarter of 2024. USALSC received a Certificate of Authority from the Kansas Insurance Department ("KID") effective January 2, 2012, and sold its first insurance product on May 1, 2013. In 2023, USALSC re-domesticated to North Dakota with approval of the North Dakota Insurance Department ("NDID"). USALSC seeks 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-party administrators, marketing organizations, and rights to other blocks of insurance business through reinsurance or other transactions. Basis of presentation The results of operation for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the year ended December 31, 2024 or for any other interim period or for any other future year. Certain financial information which is normally included in notes to financial statements prepared in accordance with US GAAP, but which are not required for interim reporting purposes, has been condensed or omitted. The accompanying financial statements and notes thereto should be read in conjunction with the financial statements and notes thereto included in USAC’s report on Form 10-K and amendments thereto for the year ended December 31, 2023. Principles of consolidation Area of Operation: Common stock and income (loss) per share: Income (loss) per share attributable to USAC’s common stockholders were 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 months ended September 30, 2024 and 2023 were 7,748,922 and 7,747,455 shares, respectively. The weighted average number of shares outstanding during the three months ended September 30, 2024 and 2023 were 7,748,922 and 7,748,922 shares, respectively. Potential common shares are excluded from the computation when their effect is anti-dilutive. There was no difference between basic and diluted net loss per common share for the three or nine months ended September 30, 2024 and 2023. New accounting standards Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued ASU 2018-12 Financial Services-Insurance (Topic 944) - Targeted Improvements to the Accounting for Long-Duration Contracts. This update is aimed at improving the Codification related to long-duration contracts which will improve the timeliness of recognizing changes in the liability for future policy benefits, simplify accounting for certain market-based options, simplify the amortization of deferred acquisition costs, and improve the effectiveness of required disclosures. These updates were originally required to be applied retrospectively to the earliest period presented in the financial statements for periods beginning after December 15, 2020. The FASB recently delayed the effective date of ASU 2018-12 to periods beginning after December 15, 2024 for smaller reporting companies, with early adoption permitted. The Company is currently evaluating the impact of this guidance on the Company's financial condition and results of operations. In December 2022, the FASB issued amendments (Accounting Standards Update 2022-5) to Accounting Standards Update 2018-12 (Targeted Improvements for Long-Duration Contracts) that originally required an insurance entity to apply a retrospective transition method as of the beginning of the earliest period presented or the beginning of the prior fiscal year if early adoption was elected. This updated guidance reduces implementation costs and complexity associated with the adoption of targeted improvements in accounting for long-duration contracts that have been derecognized in accordance with Accounting Standards Update 2018-12 before the delayed effective date. Without the amendments in this Update, an insurance entity would be required to reclassify a portion of gains or losses previously recognized in the sale or disposal of insurance contracts or legal entities because of the adoption of a new accounting standard. Because there is no effect on an insurance entity's future cash flows, this reclassification may not be useful to users of financial information. The amendments in this guidance are effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are evaluating the effect this standard will have on our Consolidated Financial Statements. For a company our size, the implementation costs of this standard will be exorbitant and permanent. Improvements to Income Tax Disclosures In December 2023, the FASB issued Accounting Standards Update 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 is intended to improve the effectiveness of income tax disclosures by requiring, among other things, the disclosure on an annual basis of: (i) specific categories in the rate reconciliation; and (ii) additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires disclosure (on an annual basis) of the following information about income taxes paid: (i) the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes; and (ii) the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). ASU 2023-09 is effective for annual periods beginning January 1, 2026, to be applied prospectively with an option for retrospective application (with early adoption permitted). The adoption of ASU 2023-09 will modify our disclosures but will not have an impact on our financial position or results of operations. All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not relate to accounting policies and procedures pertinent or material to the Company at this time.

Note 2 - Investments

Note 2 - Investments	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023 is as follows: September 30, 2024 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 798,365 $ 1,314 $ (56,967 ) $ 742,712 Corporate bonds 19,863,377 180,815 (2,129,319 ) 17,914,873 Municipal bonds 5,170,581 6,448 (438,190 ) 4,738,839 Redeemable preferred stock 2,563,224 619 (114,353 ) 2,449,490 Term loans 16,558,603 36,266 (12,117 ) 16,582,752 Mortgage backed and asset backed securities 36,043,987 1,142,624 (751,215 ) 36,435,396 Total available for sale $ 80,998,137 $ 1,368,086 $ (3,502,161 ) $ 78,864,062 December 31, 2023 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 790,976 $ - $ (66,308 ) $ 724,668 Corporate bonds 20,234,444 95,085 (2,516,167 ) 17,813,362 Municipal bonds 6,207,596 4,044 (575,547 ) 5,636,093 Redeemable preferred stock 3,622,572 1,699 (318,702 ) 3,305,569 Term loans 17,177,179 162,011 (286,770 ) 17,052,420 Mortgage backed and asset backed securities 30,621,025 520,599 (1,164,216 ) 29,977,408 Total available for sale $ 78,653,792 $ 783,438 $ (4,927,710 ) $ 74,509,520 The amortized cost and fair value of debt securities as of September 30, 2024 and December 31, 2023, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. As of September 30, 2024 As of December 31, 2023 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 328,710 $ 328,710 $ 152,840 $ 147,835 After one year through five years 16,649,480 16,744,573 16,397,124 16,461,777 After five years through ten years 4,973,769 5,004,230 6,371,607 6,112,389 More than 10 years 20,438,967 17,901,663 21,488,624 18,504,542 Redeemable preferred stocks 2,563,224 2,449,490 3,622,572 3,305,569 Mortgage backed and asset backed securities 36,043,987 36,435,396 30,621,025 29,977,408 Total amortized cost and fair value $ 80,998,137 $ 78,864,062 $ 78,653,792 $ 74,509,520 Proceeds from the sale of securities, maturities, and asset paydowns for the nine months ended September 30, 2024 and 2023 were $17,538,090 and $10,432,378, respectively. With the implementation of Cureent Expected Credit Losses (CECL) changes in the allowance for credit losses is included in net gains (losses). Realized gains and losses related to the sale of securities and net credit losses recognized in income are summarized as follows: Nine Months Ended September 30, (unaudited) 2024 2023 Gross gains $ 48,824 $ 193,318 Gross losses (188,450 ) (412,405 ) Realized gains (losses) $ (139,626 ) $ (219,087 ) Fixed maturity securities - - Mortgage loans on real estate (32,150 ) 115,762 (Increase) Decrease in allowance for credit losses $ (32,150 ) $ 115,762 Proceeds from the sale of securities, maturities, and asset paydowns for the three months ended September 30, 2024 and 2023 were $4,807,697 and $4,666,065, respectively. Realized gains and losses related to the sale of securities and net credit losses recognized in income are summarized as follows: Three Months Ended September 30, (unaudited) 2024 2023 Gross gains $ 26,754 $ 4,541 Gross losses (121,426 ) (144,745 ) Net security losses $ (94,672 ) $ (140,204 ) Fixed maturity securities 116,563 - Mortgage loans on real estate (23,013 ) - Decrease in allowance for credit losses $ 93,550 $ - 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, 2024 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ - $ - $ 289,974 $ (56,967 ) $ 289,974 $ (56,967 ) Corporate bonds - - 13,162,902 (2,129,319 ) 13,162,902 (2,129,319 ) Municipal bonds 279,531 (2,651 ) 3,741,659 (435,539 ) 4,021,190 (438,190 ) Redeemable preferred stock - - 2,376,031 (114,353 ) 2,376,031 (114,353 ) Term loans - - 2,470,314 (12,117 ) 2,470,314 (12,117 ) Mortgage backed and asset backed securities 4,957,905 (181,898 ) 5,065,200 (569,317 ) 10,023,105 (751,215 ) Total fixed maturities $ 5,237,436 $ (184,549 ) $ 27,106,080 $ (3,317,612 ) $ 32,343,516 $ (3,502,161 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2023 Available for sale: Fixed maturities: US Treasury securities $ 724,668 $ (66,308 ) $ - $ - $ 724,668 $ (66,308 ) Corporate bonds 262,673 (863 ) 15,653,914 (2,515,304 ) 15,916,587 (2,516,167 ) Municipal bonds 523,744 (4,792 ) 4,825,568 (570,755 ) 5,349,312 (575,547 ) Redeemable preferred stock - - 3,305,569 (318,702 ) 3,305,569 (318,702 ) Term loans 3,739,859 (174,955 ) 3,534,621 (111,815 ) 7,274,480 (286,770 ) Mortgage backed and asset backed securities 9,549,515 (219,946 ) 6,228,220 (944,270 ) 15,777,735 (1,164,216 ) Total fixed maturities $ 14,800,459 $ (466,864 ) $ 33,547,892 $ (4,460,846 ) $ 48,348,351 $ (4,927,710 ) Unrealized losses occur from market price declines due to changes in interest rates. The total number of available for sale fixed maturity securities in the investment portfolio in an unrealized loss position as of September 30, 2024 was 184, which represented an unrealized loss of $3,502,161 of the aggregate carrying value of those securities. The 184 securities breakdown as follows: 99 bonds, 60 mortgage and asset backed securities, 14 term loans, and 11 redeemable preferred stock. Management does not intend to sell and it is likely that management will not be required to sell before their anticipated recovery. 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, 2024 and December 31, 2023 are summarized as follows: September 30, 2024 December 31, 2023 (unaudited) Commercial mortgage loans by property type Condominium $ - $ 377,621 Mixed use 2,143,632 - Lodging 2,495,882 - Multi-property 3,729,359 8,923,604 Multi-family 3,388,102 2,855,008 Industrial 1,800,000 1,000,000 Retail/Office 12,159,406 6,482,664 Total commercial mortgages $ 25,716,381 $ 19,638,897 Allowance for credit losses (53,794 ) (21,644 ) Carrying value $ 25,662,587 $ 19,617,253 The Company’s mortgage loans by loan-to-value ratio as of September 30, 2024 and December 31, 2023 are summarized as follows: September 30, 2024 December 31, 2023 (unaudited) Loan to value ratio Over 70 to 80% $ 1,648,463 $ 7,123,604 Over 60 to 70% 7,386,630 3,137,953 Over 50 to 60% 7,670,659 2,322,273 Over 40 to 50% 2,322,344 2,327,436 Over 30 to 40% 4,646,654 377,621 Over 20 to 30% - 2,689,619 Over 10 to 20% 2,041,631 1,660,391 Total $ 25,716,381 $ 19,638,897 Allowance for credit losses (53,794 ) (21,644 ) Carrying value $ 25,662,587 $ 19,617,253 The Company’s mortgage loans by maturity date as of September 30, 2024 and December 31, 2023 are summarized as follows: September 30, 2024 December 31, 2023 (unaudited) Maturity Date One year or less $ 9,351,927 $ 14,599,568 After one year through five years 16,364,454 5,039,329 Total $ 25,716,381 $ 19,638,897 Allowance for credit losses (53,794 ) (21,644 ) Carrying value $ 25,662,587 $ 19,617,253 The Company individually evaluates its commercial mortgage loan portfolio for the establishment of a specific loan loss allowance. A mortgage loan requires a specific allowance when it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. If the Company determines that the value of any specific mortgage loan requires an allowance, the carrying amount of the mortgage loan will be reduced to its fair value, based upon the present value of expected future cash flows from the loan discounted at the loan's effective interest rate, or the fair value of the underlying collateral less estimated costs to sell. The Company had no The Company analyzes our commercial mortgage loan portfolio for the need of a general loan allowance for expected credit losses on all other loans on a quantitative and qualitative basis by grouping assets with similar risk characteristics when there is not a specific expectation of a loss for an individual loan. The amount of the general loan allowance is based upon management's evaluation of the collectability of the loan portfolio, historical loss experience, delinquencies, credit concentrations, underwriting standards and national and local economic conditions. The Company does not measure a credit loss allowance on accrued interest receivable as we write off any uncollectible accrued interest receivable balance to net investment income in a timely manner. The Company did not charge off any uncollectible accrued interest receivable on our commercial mortgage loan portfolio during the three and nine months ended September 30, 2024 and June 30, 2023. The Company's commercial mortgage loans are pooled by risk rating and property collateral type and an estimated loss ratio is applied against each risk pool. The loss ratios are generally based upon historical loss experience for each risk pool and are adjusted for current and forecasted economic factors management believes to be relevant and supportable. Economic factors are forecasted for two years with immediate reversion to historical experience. The following table presents a roll-forward of our specific and general valuation allowances for our commercial mortgage loan portfolio: Nine Months Ended September 30, 2024 (unaudited) Individually Evaluated Allowance General Allowance Beginning allowance balance $ - $ 21,644 Cumulative adjustment for changes in accounting principals - - Charge-offs - - Recoveries - - Change in provision for credit losses - 32,150 Ending Allowance $ - $ 53,794 The individually evaluated allowance represents the total credit loss allowances on loans which are individually evaluated for allowance. The general allowance is for the group of loans discussed above which are collectively evaluated for impairment. The change in provision for credit losses is recorded in net investment gains (losses). Charge-offs include allowances that have been established on loans that were satisfied either by taking ownership of the collateral or by some other means such as discounted pay-off or loan sale. When ownership of the property is taken it is recorded at the lower of the loan's carrying value or the property's fair value (based on appraised values) less estimated costs to sell. The real estate owned is recorded as a component of other investments and the loan is recorded as fully paid, with any allowance for credit loss that has been established charged off. Fair value of the real estate is determined by third party appraisal. Recoveries are situations where the Company has received a payment from the borrower in an amount greater than the carrying value of the loan (principal outstanding less specific allowance). The Company did not own any real estate related to our mortgage participations during the nine months ended September 30, 2024 and 2023. The Company will record an "intent-to-sell impairment" as a reduction to the amortized cost of fixed maturities, available-for-sale (AFS) in an unrealized loss position if the Company intends to sell or it is more likely than not that the Company will be required to sell the fixed maturity before a recovery in value. A corresponding charge is recorded in net realized losses equal to the difference between the fair value on the impairment date and the amortized cost basis of the fixed maturity before recognizing the impairment. For fixed maturity securities where a credit loss has been identified and no intent-to-sell impairment has been recorded, the Company will record an allowance for credit loss ("ACL") for the portion of the unrealized loss related to a credit loss. Any remaining unrealized loss on a fixed maturity after recording an ACL is the non-credit amount is recorded in OCI. The ACL is the excess of the amortized cost over the greater of the Company's best estimate present value of the expected future cash flows or the security's fair value. Cash flows are discounted at the effective yield that is used to record interest income. The ACL cannot exceed the unrealized loss and, therefore, it may fluctuate with the changes in the fair value of the fixed maturity if the fair is greater than the Company's best estimate of the present value of expected future cash flows. The initial ACL and any subsequent changes are recorded in net realized gains and losses. The ACL is written off against amortized cost in the period in which all or a portion of the related fixed maturity is determined to be uncollectible. Developing the Company's best estimate of expected future cash flows is a quantitative and qualitative process that incorporates information received from third party sources along with certain internal assumptions regarding the future performance. The Company's considerations include a) changes in the financial condition of the issuer and/or the underlying collateral, (b) whether the issuer is current on contractually obligated interest and principal payments, (c) credit ratings, (d) payment structure of the security, and (e) the extent to which the fair value has been less than the amortized cost of the security. For non-structured securities, assumptions included, but are not limited to, economic and industry specific trends and fundamentals, instrument specific developments including changes in credit ratings, industry earnings multiples and the issuer's ability to restructure, access capital markets, and execute asset sales. The following table presents a roll-forward of our valuation allowances for our fixed maturity securities: Three Months Ended September 30, 2024 (unaudited) Specific Allowance Beginning allowance balance $ 116,563 Cumulative adjustment for changes in accounting principals - Charge-offs - Recoveries - Change in provision for credit losses (116,563 ) Ending Allowance $ - Investment Income, Net of Expenses The components of net investment income for the nine months ended September 30, 2024 and 2023 are as follows: Nine Months Ended September 30, 2024 2023 (unaudited) Fixed maturities $ 4,366,080 $ 3,520,865 Mortgages 915,208 1,520,564 Equity securities 239,092 552,098 Other invested assets 253,174 159,935 Cash and cash equivalents 255,426 67,353 6,028,980 5,820,815 Less investment expenses (722,768 ) (727,952 ) $ 5,306,212 $ 5,092,863 The components of net investment income for the three months ended September 30, 2024 and 2023 are as follows: Three Months Ended September 30, 2024 2023 (unaudited) Fixed maturities $ 1,477,931 $ 625,328 Mortgages 8,689 517,551 Equity securities 74,947 157,298 Other invested assets 194,360 59,070 Cash and cash equivalents 60,851 31,393 1,816,778 1,390,640 Less investment expenses (506,046 ) 412,729 $ 1,310,732 $ 1,803,369 Net Investment Gains (losses) Net investment gains (losses) for the nine and three months ended September 30, 2024 and 2023 are summarized in the following tables: Nine Months Ended September 30, (unaudited) 2024 2023 Recognized gains (losses) on sale of investments $ (139,626 ) $ (219,087 ) Change in allowance for credit loss recognized in earnings (32,150 ) 115,762 Unrealized net gains (losses) recognized in earnings 1,006,400 311,127 Embedded Derivative (265,846 ) 425,122 Net investment gains (losses) $ 568,778 $ 632,924 Three Months Ended September 30, (unaudited) 2024 2023 Recognized gains (losses) on sale of investments $ (94,672 ) $ (140,204 ) Change in allowance for credit loss recognized in earnings 93,550 - Unrealized net gains (losses) recognized in earnings 419,301 (45,317 ) Embedded Derivative (362,061 ) (72,031 ) Net investment gains (losses) $ 56,118 $ (257,552 )

Note 3 - Derivative Instruments

Note 3 - Derivative Instruments	9 Months Ended
	Sep. 30, 2024
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 of a reinsurance contract allocated hedge. Summary of Derivative Positions The fair value of the Company’s derivative financial instruments on the consolidated balance sheets is as follows: September 30, 2024 December 31, 2023 Derivative Derivative Balance Asset Liability Asset Liability Reported In (unaudited) Derivatives: Embedded derivatives: Reinsurance contract allocated hedge $ 151,249 - $ 673,681 $ - Reinsurance related assets The following table shows the change in the fair value of the derivative financial instruments in the consolidated statements of comprehensive income (loss) for the nine months ended September 30, 2024 and 2023: Nine Months Ending Nine Months Ending Balance September 30, 2024 September 30, 2023 Reported In (unaudited) (unaudited) Derivatives: Embedded derivatives: Change in reinsurance contract allocated hedge $ (265,846 ) $ 425,122 Net investment gains (losses) The following table shows the change in the fair value of the derivative financial instruments in the consolidated statements of comprehensive income (loss) for the three months ended September 30, 2024 and 2023: Three Months Ending Three Months Ending Balance September 30, 2024 September 30, 2023 Reported In Derivatives: (unaudited) (unaudited) Embedded derivatives: Change in reinsurance contract allocated hedge $ (362,061 ) $ (72,031 ) Net investment gains (losses)

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
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 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement rate. ● Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. ● Level 3 inputs are unobservable for the asset or liability and reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Investments, available for sale Equity securities: Embedded derivative The table below presents the amounts of assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023: September 30, 2024 Total Level 1 Level 2 Level 3 (unaudited) Fixed maturities: US Treasury securities $ 742,712 $ 742,712 $ - $ - Corporate bonds 17,914,873 - 17,745,273 169,600 Municipal bonds 4,738,839 - 4,738,839 - Redeemable preferred stock 2,449,490 - 2,449,490 - Term loans 16,582,752 - - 16,582,752 Mortgage backed and asset backed securities 36,435,396 - 36,101,646 333,750 Total fixed maturities 78,864,062 742,712 61,035,248 17,086,102 Equities: Common stock 2,351,171 2,230,271 120,900 - Preferred stock 1,583,227 - 1,583,227 - Total equities 3,934,398 2,230,271 1,704,127 - Other invested assets 2,803,831 - - 2,803,831 Reinsurance contract allocated hedge 151,249 - - 151,249 Limited partnership interests 415,721 - - 415,721 Total $ 86,169,261 $ 2,972,983 $ 62,739,375 $ 20,456,903 December 31, 2023 Total Level 1 Level 2 Level 3 Fixed maturities: US Treasury securities $ 724,668 $ 724,668 $ - $ - Corporate bonds 17,813,362 - 17,643,762 169,600 Municipal bonds 5,636,093 - 5,636,093 - Redeemable preferred stock 3,305,569 - 3,305,569 - Term loans 17,052,420 - - 17,052,420 Mortgage backed and asset backed securities 29,977,408 - 29,489,908 487,500 Total fixed maturities 74,509,520 724,668 56,075,332 17,709,520 Equities: Common stock 2,116,356 2,017,756 98,600 - Preferred stock 1,469,529 - 1,469,529 - Total equities 3,585,885 2,017,756 1,568,129 - Other invested assets 2,239,683 - - 2,239,683 Reinsurance contract allocated hedge 673,681 - - 673,681 Limited partnership interests 389,827 - - 389,827 Total $ 81,398,596 $ 2,742,424 $ 57,643,461 $ 21,012,711 The reconciliations for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are as follows: Mortgage Other For the Nine Months Ended September 30, 2024 Corporate Backed Term Invested (unaudited) Bonds Securities Loans Assets Fair value, beginning of period $ 169,600 $ 487,500 $ 17,052,420 $ 2,239,683 Principal payment - - (3,793,088 ) (39,431 ) Acquisition - - 2,975,890 165,197 Investment related gains (losses), net - (153,750 ) 347,530 438,382 Fair value, end of period $ 169,600 $ 333,750 $ 16,582,752 $ 2,803,831 Mortgage Other For the Three Months Ended September 30, 2024 Corporate Backed Term Invested (unaudited) Bonds Securities Loans Assets Fair value, beginnig of period $ 169,600 $ 333,750 $ 17,393,363 $ 2,628,726 Principal payment - - (1,115,386 ) (33,626 ) Acquisition - - 97,865 84,329 Investment related gains (losses), net - - 206,910 124,402 Fair value, end of period $ 169,600 $ 333,750 $ 16,582,752 $ 2,803,831 The Company discloses the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed on the previous page. The estimated fair value approximates carrying value for accrued interest. The methodologies for other financial assets and financial liabilities are discussed below: Cash and cash equivalents Investment income due and accrued: Mortgage loans on real estate: Limited partnership interests Reinsurance contract allocated hedge 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, 2024 and December 31, 2023 are as follows: September 30, 2024 Carrying Value Fair Value Level 1 Level 2 Level 3 (unaudited) Financial Assets: Cash and cash equivalents $ 4,492,006 $ 4,492,006 $ 4,492,006 $ - $ - Mortgage loans on real estate 25,662,587 25,662,587 - - 25,662,587 Limited partnership interests 415,721 415,721 - - 415,721 Investment income due and accrued 995,105 995,105 - - 995,105 Reinsurance contract allocated hedge 151,249 151,249 - - 151,249 Policy loans 30,978 30,978 - - 30,978 Total Financial Assets (excluding available for sale investments) $ 31,747,646 $ 31,747,646 $ 4,492,006 $ - $ 27,255,640 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 78,637,567 66,128,718 - - 66,128,718 Total Financial Liabilities $ 79,637,567 $ 67,128,718 $ - $ - $ 67,128,718 December 31, 2023 Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 8,982,138 $ 8,982,138 $ 8,982,138 $ - $ - Mortgage loans on real estate 19,617,253 19,617,253 - - 19,617,253 Limited partnership interests 221,426 221,426 - - 221,426 Investment income due and accrued 1,878,620 1,878,620 - - 1,878,620 Reinsurance contract allocated hedge 673,681 673,681 - - 673,681 Policy loans 26,132 26,132 - - 26,132 Total Financial Assets (excluding available for sale investments) $ 31,399,250 $ 31,399,250 $ 8,982,138 $ - $ 22,417,112 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 78,063,888 67,401,118 - - 67,401,118 Total Financial Liabilities $ 79,063,888 $ 68,401,118 $ - $ - $ 68,401,118

Note 5 - Income Tax Provision

Note 5 - Income Tax Provision	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5. Income Tax Provision The Company uses the estimated effective tax rate ("ETR") method in computing the interim tax provision. Certain items, including those deemed unusual, infrequent, or that cannot be reliably estimated, are treated as discrete items and excluded from the estimated annual ETR ("AETR"). In these cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the AETR, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions and are recorded in the period in which the change occurs. The AETR is revised, as necessary, at the end of successive interim reporting periods. The Company's effective income tax rate was 26.9% for the nine months ended September 30, 2024, compared with 17.7% for the same period in 2023. The ETR differs from the statutory rate of 21% primarily due to tax favored investments (i.e., tax-exempt interest and the dividends received deduction) and an increase the the valuation allowance associated with capital loss carryforwards. The change in the ETR for the nine months ended September 30, 2024 compared to the nine months ended September 30, 2023 was due to the relationship of taxable income to consolidated pre-tax income (loss). The ETR differs for the nine months ended September 30, 2024 from the full year-ended December 31, 2023 ETR of (136.2)% due to the prior year release in valuation allowance offset by prior period adjustments. The Company is required to evaluate the recoverability of its deferred tax assets and establish a valuation allowance, if necessary, to reduce its deferred tax asset to an amount that is more likely than not to be realizable. Considerable judgment and the use of estimates are required when determining whether a valuation allowance is necessary and, if so, the amount of such valuation allowance. When evaluating the need for a valuation allowance, the Company considers many factors, including: the nature and character of the deferred tax assets and liabilities; taxable income in prior carryback years; future reversals of temporary differences; the length of time carryovers can be utilized; and any tax planning strategies the Company would employ to avoid a tax benefit from expiring unused. As of September 30, 2024, based on all available evidence, we concluded that a valuation allowance should remain on a portion of the deferred tax asset related to capital loss carryforwards that are not more-likely-than-not to be realized. For the nine months ended September 30, 2024, the Company recorded an increase of $35,960 to the valuation allowance associated with capital loss carryforwards. The expense was recorded in the income tax expense. At September 30, 2024 and December 31, 2023, the Company has recorded a total valuation allowance for $377,644 and $341,684, respectively, associated with the life insurance net operating losses subject to limitations under IRC section 382 and capital loss carryforwards.

Note 6 - Contingencies and Comm

Note 6 - Contingencies and Commitments	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 6. Contingencies and Commitments Investment Commitments The Company entered into a subscription agreement with Mutual Capital Investment Fund, LP on November 11, 2022. The agreement set forth a capital commitment of $2,000,000. As of September 30, 2024 and December 31, 2023, the Company had funded $389,827 of this commitment.

Note 7 - Subsequent Events

Note 7 - Subsequent Events	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	Note 7. 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 recognize subsequent events that provide evidence about conditions that did not exist at the balance sheet date but arose after, but before the consolidated financial statements are issued. In some cases, unrecognized subsequent events are disclosed to keep the consolidated financial statements from being misleading.

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	OTHER INFORMATION None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation The results of operation for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the year ended December 31, 2024 or for any other interim period or for any other future year. Certain financial information which is normally included in notes to financial statements prepared in accordance with US GAAP, but which are not required for interim reporting purposes, has been condensed or omitted. The accompanying financial statements and notes thereto should be read in conjunction with the financial statements and notes thereto included in USAC’s report on Form 10-K and amendments thereto for the year ended December 31, 2023.
Consolidation, Policy [Policy Text Block]	Principles of consolidation
Area of Operation, Policy [Policy Text Block]	Area of Operation:
Earnings Per Share, Policy [Policy Text Block]	Common stock and income (loss) per share: Income (loss) per share attributable to USAC’s common stockholders were 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 months ended September 30, 2024 and 2023 were 7,748,922 and 7,747,455 shares, respectively. The weighted average number of shares outstanding during the three months ended September 30, 2024 and 2023 were 7,748,922 and 7,748,922 shares, respectively. Potential common shares are excluded from the computation when their effect is anti-dilutive. There was no difference between basic and diluted net loss per common share for the three or nine months ended September 30, 2024 and 2023.
New Accounting Pronouncements, Policy [Policy Text Block]	New accounting standards Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued ASU 2018-12 Financial Services-Insurance (Topic 944) - Targeted Improvements to the Accounting for Long-Duration Contracts. This update is aimed at improving the Codification related to long-duration contracts which will improve the timeliness of recognizing changes in the liability for future policy benefits, simplify accounting for certain market-based options, simplify the amortization of deferred acquisition costs, and improve the effectiveness of required disclosures. These updates were originally required to be applied retrospectively to the earliest period presented in the financial statements for periods beginning after December 15, 2020. The FASB recently delayed the effective date of ASU 2018-12 to periods beginning after December 15, 2024 for smaller reporting companies, with early adoption permitted. The Company is currently evaluating the impact of this guidance on the Company's financial condition and results of operations. In December 2022, the FASB issued amendments (Accounting Standards Update 2022-5) to Accounting Standards Update 2018-12 (Targeted Improvements for Long-Duration Contracts) that originally required an insurance entity to apply a retrospective transition method as of the beginning of the earliest period presented or the beginning of the prior fiscal year if early adoption was elected. This updated guidance reduces implementation costs and complexity associated with the adoption of targeted improvements in accounting for long-duration contracts that have been derecognized in accordance with Accounting Standards Update 2018-12 before the delayed effective date. Without the amendments in this Update, an insurance entity would be required to reclassify a portion of gains or losses previously recognized in the sale or disposal of insurance contracts or legal entities because of the adoption of a new accounting standard. Because there is no effect on an insurance entity's future cash flows, this reclassification may not be useful to users of financial information. The amendments in this guidance are effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are evaluating the effect this standard will have on our Consolidated Financial Statements. For a company our size, the implementation costs of this standard will be exorbitant and permanent. Improvements to Income Tax Disclosures In December 2023, the FASB issued Accounting Standards Update 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 is intended to improve the effectiveness of income tax disclosures by requiring, among other things, the disclosure on an annual basis of: (i) specific categories in the rate reconciliation; and (ii) additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires disclosure (on an annual basis) of the following information about income taxes paid: (i) the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes; and (ii) the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). ASU 2023-09 is effective for annual periods beginning January 1, 2026, to be applied prospectively with an option for retrospective application (with early adoption permitted). The adoption of ASU 2023-09 will modify our disclosures but will not have an impact on our financial position or results of operations. All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not relate to accounting policies and procedures pertinent or material to the Company at this time.

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Debt Securities, Available-for-Sale [Table Text Block]	September 30, 2024 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 798,365 $ 1,314 $ (56,967 ) $ 742,712 Corporate bonds 19,863,377 180,815 (2,129,319 ) 17,914,873 Municipal bonds 5,170,581 6,448 (438,190 ) 4,738,839 Redeemable preferred stock 2,563,224 619 (114,353 ) 2,449,490 Term loans 16,558,603 36,266 (12,117 ) 16,582,752 Mortgage backed and asset backed securities 36,043,987 1,142,624 (751,215 ) 36,435,396 Total available for sale $ 80,998,137 $ 1,368,086 $ (3,502,161 ) $ 78,864,062 December 31, 2023 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 790,976 $ - $ (66,308 ) $ 724,668 Corporate bonds 20,234,444 95,085 (2,516,167 ) 17,813,362 Municipal bonds 6,207,596 4,044 (575,547 ) 5,636,093 Redeemable preferred stock 3,622,572 1,699 (318,702 ) 3,305,569 Term loans 17,177,179 162,011 (286,770 ) 17,052,420 Mortgage backed and asset backed securities 30,621,025 520,599 (1,164,216 ) 29,977,408 Total available for sale $ 78,653,792 $ 783,438 $ (4,927,710 ) $ 74,509,520
Investments Classified by Contractual Maturity Date [Table Text Block]	As of September 30, 2024 As of December 31, 2023 Amortized Cost Fair Value Amortized Cost Fair Value (unaudited) Amounts maturing in: One year or less $ 328,710 $ 328,710 $ 152,840 $ 147,835 After one year through five years 16,649,480 16,744,573 16,397,124 16,461,777 After five years through ten years 4,973,769 5,004,230 6,371,607 6,112,389 More than 10 years 20,438,967 17,901,663 21,488,624 18,504,542 Redeemable preferred stocks 2,563,224 2,449,490 3,622,572 3,305,569 Mortgage backed and asset backed securities 36,043,987 36,435,396 30,621,025 29,977,408 Total amortized cost and fair value $ 80,998,137 $ 78,864,062 $ 78,653,792 $ 74,509,520
Realized Gain (Loss) on Investments [Table Text Block]	Nine Months Ended September 30, (unaudited) 2024 2023 Gross gains $ 48,824 $ 193,318 Gross losses (188,450 ) (412,405 ) Realized gains (losses) $ (139,626 ) $ (219,087 ) Fixed maturity securities - - Mortgage loans on real estate (32,150 ) 115,762 (Increase) Decrease in allowance for credit losses $ (32,150 ) $ 115,762 Three Months Ended September 30, (unaudited) 2024 2023 Gross gains $ 26,754 $ 4,541 Gross losses (121,426 ) (144,745 ) Net security losses $ (94,672 ) $ (140,204 ) Fixed maturity securities 116,563 - Mortgage loans on real estate (23,013 ) - Decrease in allowance for credit losses $ 93,550 $ -
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, 2024 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ - $ - $ 289,974 $ (56,967 ) $ 289,974 $ (56,967 ) Corporate bonds - - 13,162,902 (2,129,319 ) 13,162,902 (2,129,319 ) Municipal bonds 279,531 (2,651 ) 3,741,659 (435,539 ) 4,021,190 (438,190 ) Redeemable preferred stock - - 2,376,031 (114,353 ) 2,376,031 (114,353 ) Term loans - - 2,470,314 (12,117 ) 2,470,314 (12,117 ) Mortgage backed and asset backed securities 4,957,905 (181,898 ) 5,065,200 (569,317 ) 10,023,105 (751,215 ) Total fixed maturities $ 5,237,436 $ (184,549 ) $ 27,106,080 $ (3,317,612 ) $ 32,343,516 $ (3,502,161 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2023 Available for sale: Fixed maturities: US Treasury securities $ 724,668 $ (66,308 ) $ - $ - $ 724,668 $ (66,308 ) Corporate bonds 262,673 (863 ) 15,653,914 (2,515,304 ) 15,916,587 (2,516,167 ) Municipal bonds 523,744 (4,792 ) 4,825,568 (570,755 ) 5,349,312 (575,547 ) Redeemable preferred stock - - 3,305,569 (318,702 ) 3,305,569 (318,702 ) Term loans 3,739,859 (174,955 ) 3,534,621 (111,815 ) 7,274,480 (286,770 ) Mortgage backed and asset backed securities 9,549,515 (219,946 ) 6,228,220 (944,270 ) 15,777,735 (1,164,216 ) Total fixed maturities $ 14,800,459 $ (466,864 ) $ 33,547,892 $ (4,460,846 ) $ 48,348,351 $ (4,927,710 )
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, 2024 December 31, 2023 (unaudited) Commercial mortgage loans by property type Condominium $ - $ 377,621 Mixed use 2,143,632 - Lodging 2,495,882 - Multi-property 3,729,359 8,923,604 Multi-family 3,388,102 2,855,008 Industrial 1,800,000 1,000,000 Retail/Office 12,159,406 6,482,664 Total commercial mortgages $ 25,716,381 $ 19,638,897 Allowance for credit losses (53,794 ) (21,644 ) Carrying value $ 25,662,587 $ 19,617,253
Schedule of Mortage Loans by Loan-to-Value Ratio [Table Text Block]	September 30, 2024 December 31, 2023 (unaudited) Loan to value ratio Over 70 to 80% $ 1,648,463 $ 7,123,604 Over 60 to 70% 7,386,630 3,137,953 Over 50 to 60% 7,670,659 2,322,273 Over 40 to 50% 2,322,344 2,327,436 Over 30 to 40% 4,646,654 377,621 Over 20 to 30% - 2,689,619 Over 10 to 20% 2,041,631 1,660,391 Total $ 25,716,381 $ 19,638,897 Allowance for credit losses (53,794 ) (21,644 ) Carrying value $ 25,662,587 $ 19,617,253
Schedule of Mortgage Loans by Maturity Date [Table Text Block]	September 30, 2024 December 31, 2023 (unaudited) Maturity Date One year or less $ 9,351,927 $ 14,599,568 After one year through five years 16,364,454 5,039,329 Total $ 25,716,381 $ 19,638,897 Allowance for credit losses (53,794 ) (21,644 ) Carrying value $ 25,662,587 $ 19,617,253
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Nine Months Ended September 30, 2024 (unaudited) Individually Evaluated Allowance General Allowance Beginning allowance balance $ - $ 21,644 Cumulative adjustment for changes in accounting principals - - Charge-offs - - Recoveries - - Change in provision for credit losses - 32,150 Ending Allowance $ - $ 53,794
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Table Text Block]	Three Months Ended September 30, 2024 (unaudited) Specific Allowance Beginning allowance balance $ 116,563 Cumulative adjustment for changes in accounting principals - Charge-offs - Recoveries - Change in provision for credit losses (116,563 ) Ending Allowance $ -
Investment Income [Table Text Block]	Nine Months Ended September 30, 2024 2023 (unaudited) Fixed maturities $ 4,366,080 $ 3,520,865 Mortgages 915,208 1,520,564 Equity securities 239,092 552,098 Other invested assets 253,174 159,935 Cash and cash equivalents 255,426 67,353 6,028,980 5,820,815 Less investment expenses (722,768 ) (727,952 ) $ 5,306,212 $ 5,092,863 Three Months Ended September 30, 2024 2023 (unaudited) Fixed maturities $ 1,477,931 $ 625,328 Mortgages 8,689 517,551 Equity securities 74,947 157,298 Other invested assets 194,360 59,070 Cash and cash equivalents 60,851 31,393 1,816,778 1,390,640 Less investment expenses (506,046 ) 412,729 $ 1,310,732 $ 1,803,369
Gain (Loss) on Securities [Table Text Block]	Nine Months Ended September 30, (unaudited) 2024 2023 Recognized gains (losses) on sale of investments $ (139,626 ) $ (219,087 ) Change in allowance for credit loss recognized in earnings (32,150 ) 115,762 Unrealized net gains (losses) recognized in earnings 1,006,400 311,127 Embedded Derivative (265,846 ) 425,122 Net investment gains (losses) $ 568,778 $ 632,924 Three Months Ended September 30, (unaudited) 2024 2023 Recognized gains (losses) on sale of investments $ (94,672 ) $ (140,204 ) Change in allowance for credit loss recognized in earnings 93,550 - Unrealized net gains (losses) recognized in earnings 419,301 (45,317 ) Embedded Derivative (362,061 ) (72,031 ) Net investment gains (losses) $ 56,118 $ (257,552 )

Note 3 - Derivative Instrumen_2

Note 3 - Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block]	September 30, 2024 December 31, 2023 Derivative Derivative Balance Asset Liability Asset Liability Reported In (unaudited) Derivatives: Embedded derivatives: Reinsurance contract allocated hedge $ 151,249 - $ 673,681 $ - Reinsurance related assets Nine Months Ending Nine Months Ending Balance September 30, 2024 September 30, 2023 Reported In (unaudited) (unaudited) Derivatives: Embedded derivatives: Change in reinsurance contract allocated hedge $ (265,846 ) $ 425,122 Net investment gains (losses) Three Months Ending Three Months Ending Balance September 30, 2024 September 30, 2023 Reported In Derivatives: (unaudited) (unaudited) Embedded derivatives: Change in reinsurance contract allocated hedge $ (362,061 ) $ (72,031 ) Net investment gains (losses)

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2024 Total Level 1 Level 2 Level 3 (unaudited) Fixed maturities: US Treasury securities $ 742,712 $ 742,712 $ - $ - Corporate bonds 17,914,873 - 17,745,273 169,600 Municipal bonds 4,738,839 - 4,738,839 - Redeemable preferred stock 2,449,490 - 2,449,490 - Term loans 16,582,752 - - 16,582,752 Mortgage backed and asset backed securities 36,435,396 - 36,101,646 333,750 Total fixed maturities 78,864,062 742,712 61,035,248 17,086,102 Equities: Common stock 2,351,171 2,230,271 120,900 - Preferred stock 1,583,227 - 1,583,227 - Total equities 3,934,398 2,230,271 1,704,127 - Other invested assets 2,803,831 - - 2,803,831 Reinsurance contract allocated hedge 151,249 - - 151,249 Limited partnership interests 415,721 - - 415,721 Total $ 86,169,261 $ 2,972,983 $ 62,739,375 $ 20,456,903 December 31, 2023 Total Level 1 Level 2 Level 3 Fixed maturities: US Treasury securities $ 724,668 $ 724,668 $ - $ - Corporate bonds 17,813,362 - 17,643,762 169,600 Municipal bonds 5,636,093 - 5,636,093 - Redeemable preferred stock 3,305,569 - 3,305,569 - Term loans 17,052,420 - - 17,052,420 Mortgage backed and asset backed securities 29,977,408 - 29,489,908 487,500 Total fixed maturities 74,509,520 724,668 56,075,332 17,709,520 Equities: Common stock 2,116,356 2,017,756 98,600 - Preferred stock 1,469,529 - 1,469,529 - Total equities 3,585,885 2,017,756 1,568,129 - Other invested assets 2,239,683 - - 2,239,683 Reinsurance contract allocated hedge 673,681 - - 673,681 Limited partnership interests 389,827 - - 389,827 Total $ 81,398,596 $ 2,742,424 $ 57,643,461 $ 21,012,711
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Mortgage Other For the Nine Months Ended September 30, 2024 Corporate Backed Term Invested (unaudited) Bonds Securities Loans Assets Fair value, beginning of period $ 169,600 $ 487,500 $ 17,052,420 $ 2,239,683 Principal payment - - (3,793,088 ) (39,431 ) Acquisition - - 2,975,890 165,197 Investment related gains (losses), net - (153,750 ) 347,530 438,382 Fair value, end of period $ 169,600 $ 333,750 $ 16,582,752 $ 2,803,831 Mortgage Other For the Three Months Ended September 30, 2024 Corporate Backed Term Invested (unaudited) Bonds Securities Loans Assets Fair value, beginnig of period $ 169,600 $ 333,750 $ 17,393,363 $ 2,628,726 Principal payment - - (1,115,386 ) (33,626 ) Acquisition - - 97,865 84,329 Investment related gains (losses), net - - 206,910 124,402 Fair value, end of period $ 169,600 $ 333,750 $ 16,582,752 $ 2,803,831
Fair Value, by Balance Sheet Grouping [Table Text Block]	September 30, 2024 Carrying Value Fair Value Level 1 Level 2 Level 3 (unaudited) Financial Assets: Cash and cash equivalents $ 4,492,006 $ 4,492,006 $ 4,492,006 $ - $ - Mortgage loans on real estate 25,662,587 25,662,587 - - 25,662,587 Limited partnership interests 415,721 415,721 - - 415,721 Investment income due and accrued 995,105 995,105 - - 995,105 Reinsurance contract allocated hedge 151,249 151,249 - - 151,249 Policy loans 30,978 30,978 - - 30,978 Total Financial Assets (excluding available for sale investments) $ 31,747,646 $ 31,747,646 $ 4,492,006 $ - $ 27,255,640 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 78,637,567 66,128,718 - - 66,128,718 Total Financial Liabilities $ 79,637,567 $ 67,128,718 $ - $ - $ 67,128,718 December 31, 2023 Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 8,982,138 $ 8,982,138 $ 8,982,138 $ - $ - Mortgage loans on real estate 19,617,253 19,617,253 - - 19,617,253 Limited partnership interests 221,426 221,426 - - 221,426 Investment income due and accrued 1,878,620 1,878,620 - - 1,878,620 Reinsurance contract allocated hedge 673,681 673,681 - - 673,681 Policy loans 26,132 26,132 - - 26,132 Total Financial Assets (excluding available for sale investments) $ 31,399,250 $ 31,399,250 $ 8,982,138 $ - $ 22,417,112 Financial Liabilities: Federal Home Loan Bank advance $ 1,000,000 $ 1,000,000 $ - $ - $ 1,000,000 Policyholder deposits in deposit-type contracts 78,063,888 67,401,118 - - 67,401,118 Total Financial Liabilities $ 79,063,888 $ 68,401,118 $ - $ - $ 68,401,118

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, 2024 $ / shares shares	Sep. 30, 2023 shares	Sep. 30, 2024 $ / shares shares	Sep. 30, 2023 shares	Dec. 31, 2023 $ / shares shares
Number of Wholly-Owned Operating Subsidiaries	4		4
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.1		$ 0.1		$ 0.1
Common Stock, Shares Authorized (in shares)	20,000,000		20,000,000		20,000,000
Common Stock, Shares, Outstanding (in shares)	7,748,922		7,748,922		7,748,922
Common Stock, Shares, Issued (in shares)	7,748,922		7,748,922		7,748,922
Weighted Average Number of Shares Outstanding, Basic (in shares)	7,748,922	7,748,922	7,748,922	7,747,455

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Proceeds from Sale, Maturity and Collection of Investments	$ 4,807,697	$ 4,666,065	$ 17,538,090	$ 10,432,378
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	184		184
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ 3,502,161		$ 3,502,161		$ 4,927,710
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Principal Amount of Delinquent Loans	$ 0		$ 0		0
Fixed Income Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	99		99
Collateralized Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	60		60
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ 751,215		$ 751,215		1,164,216
Term Loans [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	14		14
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$ 12,117		$ 12,117		$ 286,770
Preferred Stock [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	11		11

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, 2024	Dec. 31, 2023
Cost or Amortized Cost	$ 80,998,137	$ 78,653,792
Debt securities, gross unrealized gains	1,368,086	783,438
Debt Securities, Gross Unrealized Losses	(3,502,161)	(4,927,710)
Debt securities, fair value	78,864,062	74,509,520
US Treasury Securities [Member]
Cost or Amortized Cost	798,365	790,976
Debt securities, gross unrealized gains	1,314	0
Debt Securities, Gross Unrealized Losses	(56,967)	(66,308)
Debt securities, fair value	742,712	724,668
Corporate Debt Securities [Member]
Cost or Amortized Cost	19,863,377	20,234,444
Debt securities, gross unrealized gains	180,815	95,085
Debt Securities, Gross Unrealized Losses	(2,129,319)	(2,516,167)
Debt securities, fair value	17,914,873	17,813,362
US States and Political Subdivisions Debt Securities [Member]
Cost or Amortized Cost	5,170,581	6,207,596
Debt securities, gross unrealized gains	6,448	4,044
Debt Securities, Gross Unrealized Losses	(438,190)	(575,547)
Debt securities, fair value	4,738,839	5,636,093
Redeemable Preferred Stock [Member]
Cost or Amortized Cost	2,563,224	3,622,572
Debt securities, gross unrealized gains	619	1,699
Debt Securities, Gross Unrealized Losses	(114,353)	(318,702)
Debt securities, fair value	2,449,490	3,305,569
Term Loans [Member]
Cost or Amortized Cost	16,558,603	17,177,179
Debt securities, gross unrealized gains	36,266	162,011
Debt Securities, Gross Unrealized Losses	(12,117)	(286,770)
Debt securities, fair value	16,582,752	17,052,420
Collateralized Mortgage-Backed Securities [Member]
Cost or Amortized Cost	36,043,987	30,621,025
Debt securities, gross unrealized gains	1,142,624	520,599
Debt Securities, Gross Unrealized Losses	(751,215)	(1,164,216)
Debt securities, fair value	$ 36,435,396	$ 29,977,408

Note 2 - Investments - Amorti_2

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
One year or less, amortized cost	$ 328,710	$ 152,840
One year or less, fair value	328,710	147,835
After one year through five years, amortized cost	16,649,480	16,397,124
After one year through five years, fair value	16,744,573	16,461,777
After five years through ten years, amortized cost	4,973,769	6,371,607
After five years through ten years, fair value	5,004,230	6,112,389
More than 10 years, amortized cost	20,438,967	21,488,624
More than 10 years, fair value	17,901,663	18,504,542
Debt securities, amortized cost, total	80,998,137	78,653,792
Debt securities, fair value, total	78,864,062	74,509,520
Redeemable Preferred Stock [Member]
Debt securities, amortized cost	2,563,224	3,622,572
Debt securities, fair value	2,449,490	3,305,569
Debt securities, amortized cost, total	2,563,224	3,622,572
Debt securities, fair value, total	2,449,490	3,305,569
Collateralized Mortgage-Backed Securities [Member]
Debt securities, amortized cost	36,043,987	30,621,025
Debt securities, fair value	36,435,396	29,977,408
Debt securities, amortized cost, total	36,043,987	30,621,025
Debt securities, fair value, total	$ 36,435,396	$ 29,977,408

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Gross gains	$ 26,754	$ 4,541	$ 48,824	$ 193,318
Gross losses	(121,426)	(144,745)	(188,450)	(412,405)
Realized gains (losses)	(94,672)	(140,204)	(139,626)	(219,087)
Fixed maturity securities	116,563	0	0	0
(Increase) Decrease in allowance for credit losses	93,550	0	(32,150)	115,762
Real Estate Loan [Member]
Mortgage loans on real estate	$ (23,013)	$ 0	$ (32,150)	$ 115,762

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Available-for-sale securities, less than 12 months, fair value	$ 5,237,436	$ 14,800,459
Available-for-sale securities, less than 12 months, unrealized loss	(184,549)	(466,864)
Available-for-sale securities, fair value	32,343,516	48,348,351
Debt Securities, Gross Unrealized Loss	(3,502,161)	(4,927,710)
Available-for-sale securities, greater than 12 months, fair value	27,106,080	33,547,892
Available-for-sale securities, greater than 12 months, unrealized loss	(3,317,612)	(4,460,846)
US Treasury Securities [Member]
Available-for-sale securities, less than 12 months, fair value	0	724,668
Available-for-sale securities, less than 12 months, unrealized loss	0	(66,308)
Available-for-sale securities, fair value	289,974	724,668
Debt Securities, Gross Unrealized Loss	(56,967)	(66,308)
Corporate Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	0	262,673
Available-for-sale securities, less than 12 months, unrealized loss	0	(863)
Available-for-sale securities, fair value	13,162,902	15,916,587
Debt Securities, Gross Unrealized Loss	(2,129,319)	(2,516,167)
Available-for-sale securities, greater than 12 months, fair value	13,162,902	15,653,914
Available-for-sale securities, greater than 12 months, unrealized loss	(2,129,319)	(2,515,304)
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, less than 12 months, fair value	279,531	523,744
Available-for-sale securities, less than 12 months, unrealized loss	(2,651)	(4,792)
Available-for-sale securities, fair value	4,021,190	5,349,312
Debt Securities, Gross Unrealized Loss	(438,190)	(575,547)
Available-for-sale securities, greater than 12 months, fair value	3,741,659	4,825,568
Available-for-sale securities, greater than 12 months, unrealized loss	(435,539)	(570,755)
Redeemable Preferred Stock [Member]
Available-for-sale securities, less than 12 months, fair value	0	0
Available-for-sale securities, less than 12 months, unrealized loss	0	0
Available-for-sale securities, fair value	2,376,031	3,305,569
Debt Securities, Gross Unrealized Loss	(114,353)	(318,702)
Available-for-sale securities, greater than 12 months, fair value	2,376,031	3,305,569
Available-for-sale securities, greater than 12 months, unrealized loss	(114,353)	(318,702)
Term Loans [Member]
Available-for-sale securities, less than 12 months, fair value	0	3,739,859
Available-for-sale securities, less than 12 months, unrealized loss	0	(174,955)
Available-for-sale securities, fair value	2,470,314	7,274,480
Debt Securities, Gross Unrealized Loss	(12,117)	(286,770)
Collateralized Mortgage-Backed Securities [Member]
Available-for-sale securities, less than 12 months, fair value	4,957,905	9,549,515
Available-for-sale securities, less than 12 months, unrealized loss	(181,898)	(219,946)
Available-for-sale securities, fair value	10,023,105	15,777,735
Debt Securities, Gross Unrealized Loss	(751,215)	(1,164,216)
Available-for-sale securities, greater than 12 months, fair value	5,065,200	6,228,220
Available-for-sale securities, greater than 12 months, unrealized loss	$ (569,317)	$ (944,270)

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans by Property Type (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Loans	$ 25,716,381	$ 19,638,897
Allowance for credit losses	(53,794)	(21,644)
Carrying value	25,662,587	19,617,253
Condominium [Member]
Loans	0	377,621
Mixed Use [Member]
Loans	2,143,632	0
Lodging [Member]
Loans	2,495,882	0
Multi-property [Member]
Loans	3,729,359	8,923,604
Multifamily [Member]
Loans	3,388,102	2,855,008
Industrial Property [Member]
Loans	1,800,000	1,000,000
Retail [Member]
Loans	$ 12,159,406	$ 6,482,664

Note 2 - Investments - Mortga_2

Note 2 - Investments - Mortgage Loans by Loan-to-value Ratio (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Loans	$ 25,716,381	$ 19,638,897
Allowance for credit losses	(53,794)	(21,644)
Carrying value	25,662,587	19,617,253
Debt-to-Value Ratio, 70 to 80 Percent [Member]
Loans	1,648,463	7,123,604
Debt-to-Value Ratio, 60 to 70 Percent [Member]
Loans	7,386,630	3,137,953
Debt-to-Value Ratio, 50 to 60 Percent [Member]
Loans	7,670,659	2,322,273
Debt-to-Value Ratio, 40 to 50 Percent [Member]
Loans	2,322,344	2,327,436
Debt-to-Value Ratio, 30 to 40 Percent [Member]
Loans	4,646,654	377,621
Debt-to-Value Ratio, 20 to 30 Percent [Member]
Loans	0	2,689,619
Debt-to-Value Ratio, 10 to 20 Percent [Member]
Loans	$ 2,041,631	$ 1,660,391

Note 2 - Investments - Mortga_3

Note 2 - Investments - Mortgage Loans by Maturity Date (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
One year or less	$ 9,351,927	$ 14,599,568
After one year through five years	16,364,454	5,039,329
Total	25,716,381	19,638,897
Allowance for credit losses	(53,794)	(21,644)
Carrying value	$ 25,662,587	$ 19,617,253

Note 2 - Investments - Valuatio

Note 2 - Investments - Valuation Allowance on Loan Portfolios (Details) - Real Estate Loan [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Change in provision for credit losses	$ 23,013	$ 0	$ 32,150	$ (115,762)
Individually Evaluated Allowance [Member]
Beginning allowance balance			0
Charge-offs			0
Recoveries			0
Change in provision for credit losses			0
Ending Allowance	$ 0		0
Individually Evaluated Allowance [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning allowance balance			$ 0
General Allowance [Member]
Beginning allowance balance				21,644
Charge-offs				0
Recoveries				0
Change in provision for credit losses				32,150
Ending Allowance		$ 53,794		53,794
General Allowance [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning allowance balance				$ 0

Note 2 - Investments - Valuat_2

Note 2 - Investments - Valuation Allowance on Securities (Details) - Specific Allowance [Member]	3 Months Ended
	Sep. 30, 2024 USD ($)
Beginning allowance balance	$ 116,563
Charge-offs	0
Recoveries	0
Change in provision for credit losses	(116,563)
Ending Allowance	0
Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning allowance balance	$ 0

Note 2 - Investments - Componen

Note 2 - Investments - Components of Net Investment Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investment income	$ 1,816,778	$ 1,390,640	$ 6,028,980	$ 5,820,815
Less investment expenses			(722,768)	(727,952)
Less investment expenses	(506,046)	412,729
Investment income, net	1,310,732	1,803,369	5,306,212	5,092,863
Fixed Maturities [Member]
Investment income	1,477,931	625,328	4,366,080	3,520,865
Mortgages [Member]
Investment income	8,689	517,551	915,208	1,520,564
Equity Securities [Member]
Investment income	74,947	157,298	239,092	552,098
Other Invested Assets [Member]
Investment income			253,174	159,935
Investment income (expense)	194,360	59,070
Cash and Cash Equivalents [Member]
Investment income	$ 60,851	$ 31,393	$ 255,426	$ 67,353

Note 2 - Investments - Schedule

Note 2 - Investments - Schedule of Investment Gains (Losses) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Realized gains (losses) on sales of investments	$ (94,672)	$ (140,204)	$ (139,626)	$ (219,087)
Change in allowance for credit losses recognized in earnings	93,550	0	(32,150)	115,762
Unrealized net gains (losses) recognized in earnings	419,301	(45,317)	1,006,400	311,127
Change in value of embedded derivative	(362,061)	(72,031)	(265,846)	425,122
Net investment gains (losses)	$ 56,118	$ (257,552)	$ 568,778	$ 632,924

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Change in value of embedded derivative	$ (362,061)	$ (72,031)	$ (265,846)	$ 425,122
Reinsurer [Member]
Fair value of derivative financial instruments, asset	151,249		151,249		$ 673,681
Change in value of embedded derivative	(362,061)	$ (72,031)	(265,846)	$ 425,122
Fair value of derivative financial instruments, liability	$ 0		$ 0		$ 0

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Debt securities, fair value, total	$ 78,864,062	$ 74,509,520
Other invested assets	2,803,831	2,239,683
Limited partnership interests	415,721	389,827
Fair Value, Recurring [Member]
Debt securities, fair value, total	78,864,062	74,509,520
Equity securities, fair value	3,934,398	3,585,885
Other invested assets	2,803,831	2,239,683
Reinsurance contract allocated hedge	151,249	673,681
Limited partnership interests	415,721	389,827
Investments, fair value	86,169,261	81,398,596
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities, fair value, total	742,712	724,668
Equity securities, fair value	2,230,271	2,017,756
Other invested assets	0	0
Reinsurance contract allocated hedge	0	0
Limited partnership interests	0	0
Investments, fair value	2,972,983	2,742,424
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Debt securities, fair value, total	61,035,248	56,075,332
Equity securities, fair value	1,704,127	1,568,129
Other invested assets	0	0
Reinsurance contract allocated hedge	0	0
Limited partnership interests	0	0
Investments, fair value	62,739,375	57,643,461
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Debt securities, fair value, total	17,086,102	17,709,520
Equity securities, fair value	0	0
Other invested assets	2,803,831	2,239,683
Reinsurance contract allocated hedge	151,249	673,681
Limited partnership interests	415,721	389,827
Investments, fair value	20,456,903	21,012,711
US Treasury Securities [Member]
Debt securities, fair value, total	742,712	724,668
US Treasury Securities [Member] | Fair Value, Recurring [Member]
Debt securities, fair value, total	742,712	724,668
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities, fair value, total	742,712	724,668
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Debt securities, fair value, total	0	0
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Debt securities, fair value, total	0	0
Corporate Debt Securities [Member]
Debt securities, fair value, total	17,914,873	17,813,362
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Debt securities, fair value, total	17,914,873	17,813,362
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities, fair value, total	0	0
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Debt securities, fair value, total	17,745,273	17,643,762
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Debt securities, fair value, total	169,600	169,600
US States and Political Subdivisions Debt Securities [Member]
Debt securities, fair value, total	4,738,839	5,636,093
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Debt securities, fair value, total	4,738,839	5,636,093
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities, fair value, total	0	0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Debt securities, fair value, total	4,738,839	5,636,093
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Debt securities, fair value, total	0	0
Redeemable Preferred Stock [Member]
Debt securities, fair value, total	2,449,490	3,305,569
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member]
Debt securities, fair value, total	2,449,490	3,305,569
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities, fair value, total	0	0
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Debt securities, fair value, total	2,449,490	3,305,569
Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Debt securities, fair value, total	0	0
Term Loans [Member]
Debt securities, fair value, total	16,582,752	17,052,420
Term Loans [Member] | Fair Value, Recurring [Member]
Debt securities, fair value, total	16,582,752	17,052,420
Term Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities, fair value, total	0	0
Term Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Debt securities, fair value, total	0	0
Term Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Debt securities, fair value, total	16,582,752	17,052,420
Collateralized Mortgage-Backed Securities [Member]
Debt securities, fair value, total	36,435,396	29,977,408
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Debt securities, fair value, total	36,435,396	29,977,408
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities, fair value, total	0	0
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Debt securities, fair value, total	36,101,646	29,489,908
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Debt securities, fair value, total	333,750	487,500
Common Stock [Member] | Fair Value, Recurring [Member]
Equity securities, fair value	2,351,171	2,116,356
Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities, fair value	2,230,271	2,017,756
Common Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities, fair value	120,900	98,600
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	1,583,227	1,469,529
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	1,583,227	1,469,529
Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities, fair value	$ 0	$ 0

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Details) - Fair Value, Inputs, Level 3 [Member] - Fair Value, Recurring [Member] - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Corporate Debt Securities [Member]
Fair value, beginning of period	$ 169,600	$ 169,600
Principal payment	0	0
Acquisition	0	0
Investment related gains (losses), net	0	0
Fair value, end of period	169,600	169,600
Collateralized Mortgage-Backed Securities [Member]
Fair value, beginning of period	333,750	487,500
Principal payment	0	0
Acquisition	0	0
Investment related gains (losses), net	0	(153,750)
Fair value, end of period	333,750	333,750
Term Loans [Member]
Fair value, beginning of period	17,393,363	17,052,420
Principal payment	(1,115,386)	(3,793,088)
Acquisition	97,865	2,975,890
Investment related gains (losses), net	206,910	347,530
Fair value, end of period	16,582,752	16,582,752
Other Invested Assets [Member]
Fair value, beginning of period	2,628,726	2,239,683
Principal payment	(33,626)	(39,431)
Acquisition	84,329	165,197
Investment related gains (losses), net	124,402	438,382
Fair value, end of period	$ 2,803,831	$ 2,803,831

Note 4 - Fair Value Measureme_5

Note 4 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Assets and Liabilities (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Limited partnership interests	$ 415,721	$ 389,827
Reported Value Measurement [Member]
Cash and cash equivalents	4,492,006	8,982,138
Mortgage loans on real estate	25,662,587	19,617,253
Limited partnership interests	415,721	221,426
Investment income due and accrued	995,105	1,878,620
Reinsurance contract allocated hedge	151,249	673,681
Policy loans	30,978	26,132
Total Financial Assets (excluding available for sale investments)	31,747,646	31,399,250
Federal Home Loan Bank advance	1,000,000	1,000,000
Policyholder deposits in deposit-type contracts	78,637,567	78,063,888
Total Financial Liabilities	79,637,567	79,063,888
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	4,492,006	8,982,138
Mortgage loans on real estate	25,662,587	19,617,253
Limited partnership interests	415,721	221,426
Investment income due and accrued	995,105	1,878,620
Reinsurance contract allocated hedge	151,249	673,681
Policy loans	30,978	26,132
Total Financial Assets (excluding available for sale investments)	31,747,646	31,399,250
Federal Home Loan Bank advance	1,000,000	1,000,000
Policyholder deposits in deposit-type contracts	66,128,718	67,401,118
Total Financial Liabilities	67,128,718	68,401,118
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	4,492,006	8,982,138
Mortgage loans on real estate	0	0
Limited partnership interests	0	0
Investment income due and accrued	0	0
Reinsurance contract allocated hedge	0	0
Policy loans	0	0
Total Financial Assets (excluding available for sale investments)	4,492,006	8,982,138
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
Limited partnership interests	0	0
Investment income due and accrued	0	0
Reinsurance contract allocated hedge	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	25,662,587	19,617,253
Limited partnership interests	415,721	221,426
Investment income due and accrued	995,105	1,878,620
Reinsurance contract allocated hedge	151,249	673,681
Policy loans	30,978	26,132
Total Financial Assets (excluding available for sale investments)	27,255,640	22,417,112
Federal Home Loan Bank advance	1,000,000	1,000,000
Policyholder deposits in deposit-type contracts	66,128,718	67,401,118
Total Financial Liabilities	$ 67,128,718	$ 68,401,118

Note 5 - Income Tax Provision (

Note 5 - Income Tax Provision (Details Textual) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Effective Income Tax Rate Reconciliation, Percent	26.90%	17.70%	136.20%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 35,960
Deferred Tax Assets, Valuation Allowance	$ 377,644		$ 341,684

Note 6 - Contingencies and Co_2

Note 6 - Contingencies and Commitments (Details Textual) - Mutual Capital Investment Fund, LP [Member] - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Nov. 11, 2022
Subscription Agreement, Capital Commitment			$ 2,000,000
Funded Commitments for Investment in Limited Partnership Interest	$ 389,827	$ 389,827