Investors Heritage Capital (IHRC) 10-K 22 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 22, 2017	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	Investors Heritage Capital Corp
Entity Central Index Key	55,362
Trading Symbol	ihrc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		1,106,351
Entity Public Float			$ 18,869,594
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Fixed maturities (amortized cost: 2016 - $350,585,324; 2015 - $399,525,617)	$ 366,347,999	$ 409,146,807
Equity securities (cost: 2016 - $7,691,597; 2015 - $7,452,666)	8,756,068	7,616,789
Mortgage loans on real estate	41,302,392	33,174,131
Policy loans	6,336,277	6,702,911
State-guaranteed receivables	11,584,681	7,692,959
Investments in convertible options	983,950	957,405
Other invested assets	1,951,830	2,379,451
Total investments	437,263,197	467,670,453
Cash and cash equivalents	3,297,917	3,619,663
Accrued investment income	4,433,680	5,149,612
Due premiums	2,768,774	2,946,218
Deferred acquisition costs	15,712,181	17,237,522
Value of business acquired	155,264	225,276
Leased property under capital leases	75,841	381,432
Property and equipment	915,494	909,151
Cash value of company-owned life insurance	13,855,560	13,191,773
Other assets	2,435,867	2,374,292
Amounts recoverable from reinsurers	98,444,173	56,332,692
Total assets	579,357,948	570,038,084
LIABILITIES
Benefit reserves	492,963,963	493,369,378
Unearned premium reserves	8,100,042	8,119,385
Policy claims	2,637,220	2,584,088
Liability for deposit-type contracts	3,351,107	3,400,836
Reserves for dividends and endowments and other	384,401	388,193
Total policy liabilities	507,436,733	507,861,880
Deferred federal income tax liability	3,256,943	1,105,776
Obligations under capital leases	72,209	377,259
Notes payable	971,851	1,433,448
Accrued pension liability	6,021,264	6,075,376
Deferred revenue on reinsurance ceded	1,431,647
Other liabilities	3,982,356	3,933,343
Total liabilities	523,173,003	520,787,082
STOCKHOLDERS' EQUITY
Common stock (shares issued: 2016 - 1,106,351; 2015 - 1,117,647)	1,106,351	1,117,647
Paid-in surplus	8,913,360	8,913,360
Accumulated other comprehensive income	5,493,892	757,161
Retained earnings	40,671,342	38,462,834
Total stockholders' equity	56,184,945	49,251,002
Total liabilities and stockholders' equity	$ 579,357,948	$ 570,038,084

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Fixed maturities, amortized cost	$ 350,585,324	$ 399,525,617
Equity securities, cost	$ 7,691,597	$ 7,452,666
Common stock, shares issued (in shares)	1,106,351	1,117,647

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
REVENUE
Premiums and other considerations	$ 51,715,510	$ 56,864,702
Premiums ceded	(10,803,281)	(12,511,080)
Net premiums	40,912,229	44,353,622
Investment income, net of expenses	21,408,232	21,237,313
Net realized gains (losses) on investments:
Other-than-temporary impairment losses	(118,267)
Other net realized investment gains	1,674,389	818,705
Total net realized gains on investments	1,556,122	818,705
Other income	1,684,255	1,767,071
Total revenue	65,560,838	68,176,711
BENEFITS AND EXPENSES
Death and other benefits	42,767,646	44,305,739
Guaranteed annual endowments	392,142	404,466
Dividends to policyholders	293,563	332,063
Increase in benefit reserves and unearned premiums	4,235,260	6,739,357
Acquisition costs deferred	(4,923,682)	(6,030,513)
Amortization of deferred acquisition costs	5,907,926	7,103,147
Commissions	3,091,836	3,537,009
Other general and administrative expenses	10,804,013	10,881,337
Total benefits and expenses	62,568,704	67,272,605
INCOME BEFORE FEDERAL INCOME TAXES	2,992,134	904,106
PROVISION (BENEFIT) FOR FEDERAL INCOME TAXES
Current	620,300	392,468
Deferred federal income tax benefit	(288,967)	(525,078)
Total federal income taxes	331,333	(132,610)
NET INCOME	$ 2,660,801	$ 1,036,716
BASIC AND DILUTED NET EARNINGS PER SHARE (in dollars per share)	$ 2.39	$ 0.93

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Net income		$ 2,660,801	$ 1,036,716
Change in net unrealized gains (losses) on available-for-sale securities:
Unrealized holding gains (losses) arising during period		8,550,015	(17,074,720)
Reclassification adjustment for gains included in income	[1]	(1,508,182)	(735,567)
Adjustment for effects of deferred acquisition costs		(211,683)	462,249
Net unrealized gains (losses) on investments		6,830,150	(17,348,038)
Change in defined benefit pension plan:
Actuarial net loss on pension plan		(390,459)	(1,515,949)
Amortization of actuarial net loss in net periodic pension cost	[2]	737,174	762,233
Net change in defined benefit pension plan		346,715	(753,716)
Other comprehensive income (loss) before income taxes		7,176,865	(18,101,754)
Income tax expense (benefit)		2,440,134	(6,154,596)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES		4,736,731	(11,947,158)
COMPREHENSIVE INCOME (LOSS)		$ 7,397,532	$ (10,910,442)
[1]	These items appear within net realized gains on investments in the consolidated income statements.
[2]	These items are included in the computation of net periodic benefit cost (see Note 6).

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
BALANCE at Dec. 31, 2014	$ 1,123,980	$ 8,908,243	$ 12,704,319	$ 37,799,944	$ 60,536,486
Net income				1,036,716	1,036,716
Other comprehensive loss, net			(11,947,158)		(11,947,158)
Cash dividends				(236,035)	(236,035)
Repurchases of common stock, net	(6,333)	5,117		(137,791)	(139,007)
BALANCE at Dec. 31, 2015	1,117,647	8,913,360	757,161	38,462,834	49,251,002
Net income				2,660,801	2,660,801
Other comprehensive loss, net			4,736,731		4,736,731
Cash dividends				(234,706)	(234,706)
Repurchases of common stock, net	(11,296)			(217,587)	(228,883)
BALANCE at Dec. 31, 2016	$ 1,106,351	$ 8,913,360	$ 5,493,892	$ 40,671,342	$ 56,184,945

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
OPERATING ACTIVITIES
Net income	$ 2,660,801	$ 1,036,716
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Net realized gains on investments	(1,556,122)	(818,705)
Deferred federal income tax benefit	(288,967)	(525,078)
Amortization of deferred acquisition costs	5,907,926	7,103,147
Acquisition costs deferred	(4,923,682)	(6,030,513)
Net adjustment for premium and discount on investments	(1,032,323)	(185,671)
Depreciation and other amortization	446,431	599,638
Change in value of convertible options	9,850	(102,342)
Changes in operating assets and liabilities:
Accrued investment income	715,932	41,128
Due premiums	177,444	270,918
Cash value of company-owned life insurance	(663,787)	(749,940)
Amounts recoverable from reinsurers	(42,111,481)	(421,699)
Benefit reserves	2,441,015	7,126,305
Policy claims	53,132	(237,018)
Liability for deposit-type contracts	(49,729)	(31,957)
Reserves for dividends and endowments and other	(3,792)	(3,246)
Deferred revenue on reinsurance ceded	1,801,272
Other assets and other liabilities	(7,760)	(498,817)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(36,423,840)	6,572,866
INVESTING ACTIVITIES
Purchases of available-for-sale securities	(30,622,950)	(33,893,271)
Sales of available-for-sale securities	55,905,616	8,115,128
Maturities of available-for-sale securities	25,394,796	29,085,575
Acquisitions of mortgage loans on real estate	(20,695,767)	(12,240,031)
Payments of mortgage loans on real estate	12,470,604	8,619,349
Purchases of state-guaranteed receivables	(4,193,203)
Payments of state-guaranteed receivables	962,790	769,540
Purchases of convertible options	(124,882)	(1,016,251)
Sales and exchanges of convertible options	136,426	168,415
Net change in receivable for securities	(17,250)
Net reductions in other investments	794,255	853,979
Net additions to property and equipment	(117,382)	(259,089)
NET CASH PROVIDED BY INVESTING ACTIVITIES	39,893,053	203,344
FINANCING ACTIVITIES
Policyholder account deposits	3,926,994	4,486,920
Policyholder account withdrawals	(6,792,767)	(8,064,164)
Payments on notes payable	(2,808,654)	(3,877,673)
Proceeds from notes payable	2,347,057	2,802,545
Dividends paid	(234,706)	(236,035)
Repurchases of common stock, net	(228,883)	(139,007)
NET CASH USED IN FINANCING ACTIVITIES	(3,790,959)	(5,027,414)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(321,746)	1,748,796
Cash and cash equivalents at beginning of year	3,619,663	1,870,867
CASH AND CASH EQUIVALENTS AT END OF YEAR	3,297,917	3,619,663
SUPPLEMENTAL INFORMATION
Cash paid during year for federal income taxes	$ 567,698	$ 213,671

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Accounting Policies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 Investors Heritage Capital Corporation is the holding company of Investors Heritage Life Insurance Company; Investors Heritage Printing, Inc., a printing company; Investors Heritage Financial Services Group, Inc., an insurance marketing company; is the sole member of At Need Funding, LLC, a limited liability company that provides advance funding of funerals in exchange for the irrevocable assignment of life insurance policies from other nonaffiliated companies; and is the sole member of Heritage Funding, LLC, a limited liability company that invests in various business ventures. These entities are collectively hereinafter referred to as the "Company". In excess of 99% The Company's operations involve the sale and administration of various insurance and annuity products, including, but not limited to, participating and non-participating whole life, limited pay life, universal life, annuity contracts, credit life, credit accident and health and group insurance policies. Investors Heritage Life is currently licensed in 35 Basis of Presentation: Principles of Consolidation: Use of Estimates: Investments: Premiums and discounts on fixed maturity investments are amortized into income using the interest method. Anticipated prepayments on mortgage-backed securities are considered in the determination of the effective yield on such securities. If a difference arises between anticipated prepayments and actual prepayments, the carrying amounts of the investments are adjusted with a corresponding charge or credit to interest income. Realized gains and losses on the sales of investments are determined based upon the specific identification method and include provisions for other-than-temporary impairments where appropriate, as discussed in further detail in Note 2 If an other-than-temporary impairment occurs with respect to a bond, the reduced book value is amortized back to the security’s expected recovery value over the remaining term of the bond. The Company continues to review the security for further impairment that would prompt another write-down in the value. Mortgage loans are carried at their aggregate principal balance, adjusted for any unamortized premium or discount. Policy loans are carried at their aggregate principal balance. State-guaranteed receivables represent an assignment of the future rights to cash flows from lottery winners purchased at a discounted price. Payments on these investments are made by state run lotteries and guaranteed by the states. The state-guaranteed receivables are carried at their amortized cost basis. Investments in convertible options represent the bifurcated equity derivative portion of convertible security investments. These investments are recorded at their market value with changes in the market value recorded as a component of net investment income on the income statement. Other invested assets include real estate investments and notes receivable. Real estate investments are carried at cost less accumulated depreciation. Notes receivable are carried at their aggregate principal balance. Short-term investments represent securities with maturity dates within one three Cash equivalents include money market funds on deposit at various financial institutions with contractual maturity dates within three Deferred Acquisition Costs: Deferred acquisition costs related to annuities and universal life insurance products are deferred to the extent deemed recoverable and amortized in relation to the present value of actual and expected gross profits on the policies. To the extent that realized gains and losses on fixed income securities result in adjustments to deferred acquisition costs related to annuities, such adjustments are reflected as a component of the amortization of deferred acquisition costs. Deferred acquisition costs related to annuities and universal life insurance products are also adjusted, net of tax, for the change in amortization that would have been recorded if the unrealized gains (losses) from securities had actually been realized. This adjustment is included in the change in net unrealized appreciation (depreciation) on available-for-sale securities, a component of "Accumulated Other Comprehensive Income" in the stockholders' equity section of the balance sheet. Value of Business Acquired: 2016 2015 $70,012 $75,761, $766,092 $696,080 December 31, 2016 2015, $63,000, $44,000, $13,000, $8,000, $7,000 2017 2021, Property and Equipment: $4,072,622 $3,991,112 December 31, 2016 2015, Capital Leases: 2016, no 2015, one $184,100 2016 2015 $319,762 $395,024, 2017 2018 $74,034 $6,259, December 31, 2016 $72,209, $80,292 $8,083. $895,570 $745,601 December 31, 2016 2015, Cash Value of Company-Owned Life Insurance: Benefit Reserves and Policyholder Deposits: Benefit reserves and policyholder deposits on universal life and investment-type products are determined by using the retrospective deposit method and represent the policy account value before consideration of surrender charges. In addition, unearned revenues are included as a part of the benefit reserve. The mortality assumptions for regular ordinary business are based on the 1955 60 1982; 1965 70 1982 1984; 1975 80 1984; 2001 2008; Reinsurance: December 31, 2016 2015, $98,444,173 $56,332,692, $97,514,013 $55,510,620 December 31, 2016 2015, 10 Unearned Premium Reserves: 78's 78's. Policy Claims: At December 31, 2016 2015, $600,226 $721,592, Liability for Deposit-Type Contracts: Participating Policies: 14% 15% December 31, 2016 2015, 3% December 31, 2016 2015. 3% 1941 1958 The liability for future policy benefits of the Texas Memorial Life and Memorial Service Life blocks of participating business was determined based on the 2001 1980 The average assumed investment yields used in determining expected gross profits ranged from 3.56% 9.17% 4.50% Deferred Revenue on Reinsurance Ceded : 10. 20 $1,471,858. $40,211 2016. Federal Income Taxes: Revenues and Expenses: Revenues for universal life and investment-type products consist of investment income and policy charges for the cost of insurance and policy initiation and administrative fees. Expenses include interest credited to policy account balances, actual administrative expenses and benefit payments in excess of policy account balances. Other income consists principally of third Common Stock and Earnings per Share: $1.00 4,000,000 2016 2015 1,111,660 1,120,306 $0.21 2016 2015. Subsequent Events: December 31, 2016 New Accounting Standards: July 2015, three December 15, 2015. In May 2014, may August 2015, December 15, 2017, In January 2016, December 15, 2017. 2 In February 2016, December 15, 2018. In June 2016, December 15, 2019, December 15, 2018. In August 2016, eight December 15, 2017, 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 to the Company at this time or were not expected to have a material impact to the consolidated financial statements.

Note 2 - Investments

Note 2 - Investments	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 2 The Company limits credit risk by investing primarily in investment grade securities and by diversifying its investment portfolio among government and corporate bonds and mortgage loans. The Company manages its fixed income portfolio to diversify between and within industry sectors. Investments in available-for-sale securities are summarized as follows: December 31, 2016 Amortized Gross Unrealized Gross Unrealized Fair Cost Gains Losses Value Available-for-sale securities: Fixed maturities: U.S. government obligations $ 21,882,312 $ 360,723 $ 9,416 $ 22,233,619 States and political subdivisions 35,403,214 4,153,294 31,260 39,525,248 Corporate 202,578,595 9,355,481 953,527 210,980,549 Foreign 51,081,850 1,731,092 283,363 52,529,579 Mortgage-backed securities (MBS): Commercial MBS 6,717,214 198,857 - 6,916,071 Residential MBS 32,065,365 1,314,373 72,741 33,306,997 Corporate redeemable preferred stock 856,774 24,314 25,152 855,936 Total fixed maturity securities 350,585,324 17,138,134 1,375,459 366,347,999 Equity securities: U.S. agencies 707,900 - - 707,900 Mutual funds 318,284 28,840 - 347,124 Corporate common stock 6,665,413 1,370,651 335,020 7,701,044 Total equity securities 7,691,597 1,399,491 335,020 8,756,068 Total $ 358,276,921 $ 18,537,625 $ 1,710,479 $ 375,104,067 December 31, 2015 Amortized Gross Unrealized Gross Unrealized Fair Cost Gains Losses Value Available-for-sale securities: Fixed maturities: U.S. government obligations $ 23,373,714 $ 642,038 $ - $ 24,015,752 States and political subdivisions 36,830,198 4,511,826 136,585 41,205,439 Corporate 229,425,035 10,338,999 4,587,896 235,176,138 Foreign 65,010,084 1,731,076 4,682,638 62,058,522 Asset-backed securities 143,552 457 - 144,009 Mortgage-backed securities (MBS): Commercial MBS 6,830,520 148,314 15,592 6,963,242 Residential MBS 37,200,599 1,776,233 62,255 38,914,577 Corporate redeemable preferred stock 711,915 - 42,787 669,128 Total fixed maturity securities 399,525,617 19,148,943 9,527,753 409,146,807 Equity securities: U.S. agencies 707,900 - - 707,900 Mutual funds 318,284 - 14,253 304,031 Corporate common stock 6,426,482 702,497 524,121 6,604,858 Total equity securities 7,452,666 702,497 538,374 7,616,789 Total $ 406,978,283 $ 19,851,440 $ 10,066,127 $ 416,763,596 The following table summarizes, for all securities in an unrealized loss position as of the balance sheet dates, the estimated fair value, pre-tax gross unrealized loss and number of securities by length of time that those securities have been continuously in an unrealized loss position. December 31, 2016 December 31, 2015 Gross Number Gross Number Estimated Unrealized of Estimated Unrealized of Fair Value Loss Securities Fair Value Loss Securities Fixed maturities: Less than 12 months: U.S. government obligations $ 7,892,992 $ 9,416 2 $ - $ - - States and political subdivisions 968,740 31,260 1 1,613,415 136,585 2 Corporate 30,370,227 753,570 27 55,039,213 3,873,158 52 Foreign 10,215,322 283,355 11 24,154,510 1,418,143 20 Commercial MBS - - - 1,447,694 15,592 2 Residential MBS 3,003,214 72,741 2 3,320,890 62,255 2 Corporate redeemable preferred stock 17,488 493 1 669,128 42,787 2 Greater than 12 months: Corporate 2,997,784 199,957 2 5,533,581 714,738 4 Foreign 197,700 8 1 6,007,156 3,264,495 4 Corporate redeemable preferred stock 205,423 24,659 1 - - - Total fixed maturities 55,868,890 1,375,459 48 97,785,587 9,527,753 88 Equity securities: Less than 12 months: Mutual funds - - - 304,031 14,253 1 Corporate common stock 1,004,821 136,117 6 2,449,672 473,551 15 Greater than 12 months: Corporate common stock 873,083 198,903 7 183,960 50,570 3 Total equities 1,877,904 335,020 13 2,937,663 538,374 19 Total $ 57,746,794 $ 1,710,479 61 $ 100,723,250 $ 10,066,127 107 At December 31, 2016, 100% 80%, 94.0% 80%. December 31, 2015, 97.4% 80%, 93.4% 80%. During 2016, one $118,267. 2016 2015. The Company’s decision to record an impairment loss is primarily based on whether the security’s fair value is likely to remain significantly below its book value in light of all the factors considered. Factors that are considered include the length of time the security’s fair value has been below its carrying amount, the severity of the decline in value, the credit worthiness of the issuer, and the coupon and/or dividend payment history of the issuer. The Company also assesses whether it intends to sell or whether it is more likely than not that it may is a fixed maturity security adjusted to fair value and the resulting losses recognized in realized gains/losses in the consolidated statements of income. Any other-than-temporary impairments on equity securities are recorded in the consolidated statements of income in the periods incurred as the difference between fair value and cost. Management believes that the Company will fully recover its cost basis in the securities held at December 31, 2016, Net unrealized gains for investments classified as available-for-sale are presented below, net of the effect on deferred income taxes and deferred acquisition costs assuming that the appreciation had been realized. December 31, 2016 2015 Net unrealized appreciation on available-for sale securities $ 16,827,146 $ 9,785,313 Adjustment to deferred acquisition costs (461,084 ) (249,401 ) Deferred income taxes (5,564,461 ) (3,242,210 ) Net unrealized appreciation on available-for sale securities $ 10,801,601 $ 6,293,702 The amortized cost and fair value of debt securities at December 31, 2016 , by contractual maturity, are presented below. Expected maturities will differ from contractual maturities because borrowers may Available-for-Sale Amortized Fair Cost Value Due in one year or less $ 11,282,653 $ 11,454,020 Due after one year through five years 100,288,408 106,474,899 Due after five years through ten years 131,988,499 135,072,291 Due after ten years 48,697,265 53,377,415 Due at multiple maturity dates 58,328,499 59,969,374 Total $ 350,585,324 $ 366,347,999 Proceeds from sales and maturities of investments in available-for-sale securities, as well as gross gains and gross losses realized, are presented below. Year Ended December 31, 2016 2015 Proceeds from sales and maturities $ 81,300,412 $ 37,200,703 Gross realized gains 2,360,747 939,423 Gross realized losses (734,298 ) (203,856 ) Other-than-temporary impairment loss (118,267 ) - The table below presents the change in net unrealized investment gains (losses) and the amount of realized investment gains (losses) by investment type. Year Ended December 31, 2016 2015 Change in net unrealized investment gains (losses): Securities available-for-sale: Fixed maturities $ 6,141,485 $ (16,900,027 ) Equity securities 900,348 (910,260 ) Net realized investment gains (losses): Securities available-for-sale: Fixed maturities $ 1,460,321 $ 91,141 Equity securities 166,128 644,426 Other-than-temporary impairment loss (118,267 ) - Mortgage loans on real estate - 75,915 Investments in convertible options 47,940 7,223 The Company is required to hold assets on deposit for the benefit of policyholders in accordance with statutory rules and regulations. At December 31, 2016 2015, $22,724,783 $22,899,132, The Company also engages in commercial and residential mortgage lending. As of December 31, 2016, 26.2% 73.8%, December 31, 2015, 37.4% 62.6%, All commercial mortgage loans are either originated in-house or through two first 80% 115% The Company purchases single family residential mortgage loans through the secondary third As of December 31, 2016 2015, no 90 no 2016 2015. The Company’s investments in mortgage loans, by state, are as follows: December 31, 2016 2015 Florida $ 5,253,110 $ 3,906,034 Texas 5,191,186 5,694,612 Illinois 4,787,454 6,046,408 California 3,591,584 3,366,434 Georgia 3,487,991 2,671,788 Missouri 3,107,289 1,342,845 Ohio 3,083,440 1,692,354 Kentucky 2,402,800 3,241,793 Arizona 1,490,538 774,060 New Jersey 1,196,156 247,723 Colorado 1,190,873 222,364 Tennessee 1,048,452 895,607 Indiana 893,431 759,139 Virginia 800,635 - North Carolina 757,004 353,275 Oregon 487,824 - Pennsylvania 479,720 370,323 Nevada 479,182 373,359 Utah 343,533 77,939 Washington 231,939 - West Virginia 225,578 412,250 South Carolina 199,101 225,881 Massachusetts 169,681 205,469 Idaho 142,745 159,073 Kansas 134,396 135,401 Michigan 126,750 - Total $ 41,302,392 $ 33,174,131 At December 31, 2016, $1,126,649, $612,194. December 31, 2015, $1,126,649, $586,762. The Company owns certain investments in state-guaranteed receivables. These investments represent an assignment of the future rights to cash flows from lottery winners purchased at a discounted price. Payments on these investments are made by state run lotteries and guaranteed by the states. At December 31, 2016, State-Guaranteed Receivables Amortized Fair Cost Value Due in one year or less $ 1,094,070 $ 1,106,879 Due after one year through five years 4,065,183 4,418,206 Due after five years through ten years 4,334,493 5,210,810 Due after ten years 2,090,935 3,202,929 Total $ 11,584,681 $ 13,938,824 The outstanding balance of state-guaranteed receivables, by state, is summarized as follows: December 31, 2016 2015 New York $ 3,446,349 $ 3,496,115 Massachusetts 3,126,011 1,991,601 Georgia 2,012,845 1,432,022 Washington 653,235 - Indiana 417,811 - Pennsylvania 318,019 294,968 Texas 261,396 243,939 California 171,590 180,143 Ohio 1,177,425 54,171 Total $ 11,584,681 $ 7,692,959 During the third 2015, December 31, 2016 2015, $983,950 $957,405, December 31, 2016 2015, ($9,850) $102,342, 2016 2015 $47,940 $7,223, Major categories of net investment income are summarized as follows: Year Ended December 31, 2016 2015 Fixed maturities $ 18,135,421 $ 18,296,411 Equity securities 316,238 295,368 Mortgage loans on real estate 2,654,165 2,316,721 Policy loans 481,912 494,299 State-guaranteed receivables 661,309 545,120 Gain (loss) on investments in convertible options (9,850 ) 102,342 Other 221,067 219,037 Gross investment income 22,460,262 22,269,298 Investment expenses 1,052,030 1,031,985 Net investment income $ 21,408,232 $ 21,237,313

Note 3 - Fair Values of Financi

Note 3 - Fair Values of Financial Instruments	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 3 The fair value of a financial instrument is the estimated amount at which the instrument could be exchanged in an orderly transaction between knowledgeable, unrelated, willing parties, i.e., not in a forced transaction. The estimated fair value of a financial instrument may may The Company holds fixed maturities and equity securities that are measured and reported at fair market value on the balance sheet. The Company is also required to disclose fair value estimates for other financial instruments not required to be carried at market value on the balance sheet. The Company determines the fair market values of its financial instruments based on the fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three may Level 1 Level 2 1 Level 3 The Company has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into the three may 3 3 Valuation of Investments Reported at Fair Value in Financial Statements The Company’s Level 1 one The Company’s Level 2 third third The Company’s Level 3 one may third The following table presents the Company’s fair value hierarchy for those financial instruments measured and reported at fair value on a recurring basis. December 31, 2016 Level 1 Level 2 Level 3 Total U.S. government obligations $ - $ 22,233,619 $ - $ 22,233,619 States and political subdivisions - 39,525,248 - 39,525,248 Corporate - 210,980,549 - 210,980,549 Foreign - 52,529,579 - 52,529,579 Mortgage-backed securities: Commercial MBS - 6,916,071 - 6,916,071 Residential MBS - 33,306,997 - 33,306,997 Corporate redeemable preferred stock - 855,936 - 855,936 Total fixed maturities $ - $ 366,347,999 $ - $ 366,347,999 U.S. agencies $ 707,900 $ - $ - $ 707,900 Mutual funds 347,124 - - 347,124 Corporate common stock 7,253,044 - 448,000 7,701,044 Total equity securities $ 8,308,068 $ - $ 448,000 $ 8,756,068 Investments in convertible options $ - $ 983,950 $ - $ 983,950 December 31, 2015 Level 1 Level 2 Level 3 Total U.S. government obligations $ - $ 24,015,752 $ - $ 24,015,752 States and political subdivisions - 41,205,439 - 41,205,439 Corporate - 235,176,138 - 235,176,138 Foreign - 62,058,522 - 62,058,522 Asset-backed securities - 144,009 - 144,009 Mortgage-backed securities: Commercial MBS - 6,963,242 - 6,963,242 Residential MBS - 38,914,577 - 38,914,577 Corporate redeemable preferred stock - 669,128 - 669,128 Total fixed maturities $ - $ 409,146,807 $ - $ 409,146,807 U.S. agencies $ 707,900 $ - $ - $ 707,900 Mutual funds 304,031 - - 304,031 Corporate common stock 6,252,858 - 352,000 6,604,858 Total equity securities $ 7,264,789 $ - $ 352,000 $ 7,616,789 Investments in convertible options $ - $ 957,405 $ - $ 957,405 The following table provides a summary of changes in fair value of our Level 3 Year Ended December 31, 2016 2015 Corporate common stock: Beginning balance $ 352,000 $ 384,000 Transfers into Level 3 - - Transfers out of Level 3 - - Purchases - - Sales - - Total gains or losses: Included in earnings - - Included in other comprehensive income (loss) 96,000 (32,000 ) Ending balance $ 448,000 $ 352,000 The Company experienced no transfers between Level 1 2 December 31, 2016 2015. 2 3 December 31, 2016 2015. 3 The unrealized gains (losses) on Level 3 Financial Instruments Disclosed, but not Carried, at Fair Value The following disclosure presents the carrying values and estimated fair values of the Company’s financial instruments disclosed, but not carried, at fair value and the level within the fair value hierarchy at which such assets and liabilities are measured on a recurring basis. The fair values for insurance contracts other than investment-type contracts are not required to be disclosed. The estimated fair value amounts have been determined using available market information and appropriate valuation methodologies. However, considerable judgment was required to interpret market data to develop these estimates. Accordingly, the estimates are not necessarily indicative of the amounts which could be realized in a current market exchange. The use of different market assumptions or estimation methodologies may December 31, 2016 Carrying Fair Amount Value Level 1 Level 2 Level 3 Assets: Mortgage loans on real estate: Commercial $ 10,819,996 $ 11,084,097 $ - $ - $ 11,084,097 Residential 30,482,396 33,992,592 - - 33,992,592 Policy loans 6,336,277 6,336,277 - - 6,336,277 State-guaranteed receivables 11,584,681 13,938,824 - 13,938,824 - Other invested assets 1,951,830 1,951,830 - - 1,951,830 Cash and cash equivalents 3,297,917 3,297,917 3,297,917 - - Accrued investment income 4,433,680 4,433,680 - - 4,433,680 Cash value of company-owned life insurance 13,855,560 13,855,560 - - 13,855,560 Liabilities: Policyholder deposits (Investment-type contracts) 51,870,288 51,304,889 - - 51,304,889 Policy claims 2,637,220 2,637,220 - - 2,637,220 Obligations under capital leases 72,209 72,209 - - 72,209 Notes payable 971,851 971,851 - - 971,851 December 31, 2015 Carrying Fair Amount Value Level 1 Level 2 Level 3 Assets: Mortgage loans on real estate: Commercial $ 12,419,443 $ 12,895,965 $ - $ - $ 12,895,965 Residential 20,754,688 23,032,713 - - 23,032,713 Policy loans 6,702,911 6,702,911 - - 6,702,911 State-guaranteed receivables 7,692,959 9,094,934 - 9,094,934 - Other invested assets 2,379,451 2,379,451 - - 2,379,451 Cash and cash equivalents 3,619,663 3,619,663 3,619,663 - - Accrued investment income 5,149,612 5,149,612 - - 5,149,612 Cash value of company-owned life insurance 13,191,773 13,191,773 - - 13,191,773 Liabilities: Policyholder deposits (Investment-type contracts) 52,694,746 53,880,242 - - 53,880,242 Policy claims 2,584,088 2,584,088 - - 2,584,088 Obligations under capital leases 377,259 377,259 - - 377,259 Notes payable 1,433,448 1,433,448 - - 1,433,448 The following methods and assumptions were used in estimating the fair value disclosures for financial instruments in the accompanying consolidated financial statements and notes thereto: Mortgage loans on real estate: State-guaranteed receivables: Cash and cash equivalents: Cash value of company-owned life insurance: Investment-type contracts: Notes payable: Policy loans, other invested assets, accrued investment income, policy claims and obligations under capital leases: 3

Note 4 - Federal Income Taxes

Note 4 - Federal Income Taxes	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 4 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax liabilities and assets are as follows: December 31, 2016 2015 Deferred tax liabilities: Policy acquisition costs $ 2,427,869 $ 2,675,908 Net unrealized gain on available-for-sale securities 5,564,461 3,242,210 Due premiums 922,868 957,825 Other 768,852 695,201 Total deferred tax liabilities 9,684,050 7,571,144 Deferred tax assets: Benefit reserves, net of reinsurance 2,626,693 3,137,466 Other policyholder funds 337,333 363,106 AMT credit carryforwards 656,087 565,828 Accrued pension liability 2,047,230 2,065,628 Deferred revenue on reinsurance ceded 486,760 - Other-than-temporary impairments 40,211 - Other 232,793 333,340 Total deferred tax assets 6,427,107 6,465,368 Net deferred tax liabilities $ 3,256,943 $ 1,105,776 The Company periodically reviews its gross deferred tax assets for recoverability. At December 31, 2016 2015, The reconciliation of income tax attributable to operations computed at the federal statutory tax rate to income tax expense is as follows: Year Ended December 31, 2016 2015 Statutory federal income tax rate 34.0 % 34.0 % Small life insurance company deduction (17.2 ) (19.2 ) Dividends-received deduction (0.9 ) (2.7 ) Defined contribution plan dividend (0.7 ) (2.3 ) Nondeductible COLI expense (5.2 ) (16.3 ) Nontaxable COLI life insurance proceeds - (7.7 ) Nondeductible travel & meals expense 0.6 2.5 True-up of provision to actual 0.1 1.7 Other 0.4 (4.7 ) Effective income tax rate 11.1 % (14.7 ) % We file U.S. federal income tax returns and income tax returns in various state jurisdictions. Our 2013 2016 no not

Note 5 - Notes Payable

Note 5 - Notes Payable	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 5 Effective November 25, 2016, may $1,000,000 November 25, 2018. 3.50%. During the first 2015, $150,000 March 24, 2017. 3.25%. $1,500,000 March 24, 2017. 3.75%. On November 5, 2012, $2,000,000 November 25, 2014, November 25, 2019 0.25% $15,000 December 5, 2014 55,000 The borrowed funds were utilized to fund a credit agreement to Puritan Financial Companies, Inc. for $2,000,000, 1.75% August 28, 2014 August 28, 2019. 15% $400,000 2015 2,000,000 $893,915 $1,450,830 December 31, 2016 2015, Information relative to the Company’s outstanding notes payable is as follows: December 31, 2016 Outstanding Current Maturity Interest Interest Principal Interest Rate Date Expense Paid At Need Funding line of credit $ 133,878 3.75% 3/24/2017 $ 7,343 $ 6,734 Bank note 837,973 3.50% 11/25/2019 44,101 48,961 December 31, 2015 Outstanding Current Maturity Interest Interest Principal Interest Rate Date Expense Paid At Need Funding line of credit $ 59,484 3.50% 3/24/2017 $ 19,301 $ 20,002 Bank note 1,373,964 3.25% 11/25/2019 32,186 35,194 We assess our compliance with prescribed debt covenant requirements as outlined in the terms of each debt agreement at least annually, if not otherwise required in the debt agreement. Management has assessed our position as of December 31, 2016,

Note 6 - Employee Benefit Plans

Note 6 - Employee Benefit Plans	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE 6 The Company sponsors the IHCC Employee Retirement Plan (the “Pension Plan”), which is a noncontributory defined benefit pension plan that was frozen in 2012 may The following table provides information relative to the Company’s Pension Plan. December 31, 2016 2015 Change in projected benefit obligation: Benefit obligation at beginning of year $ 24,691,877 $ 24,975,342 Service cost - - Interest cost 990,439 890,263 Actuarial (gain) loss 627,361 (5,930 ) Benefits paid (1,320,617 ) (1,167,798 ) Benefit obligation at end of year 24,989,060 24,691,877 Change in plan assets: Fair value of plan assets at beginning of year 18,616,501 19,833,900 Actual return on plan assets 1,338,912 (349,601 ) Employer contributions 333,000 300,000 Benefits paid (1,320,617 ) (1,167,798 ) Fair value of plan assets at end of year 18,967,796 18,616,501 Funded status (6,021,264 ) (6,075,376 ) Unrecognized net actuarial loss 8,041,983 8,388,698 Net amount recognized as prepaid benefit cost $ 2,020,719 $ 2,313,322 Accumulated benefit obligation $ 24,989,060 $ 24,691,877 Year Ended December 31, 2016 2015 Components of net periodic benefit cost: Service cost $ - $ - Interest cost 990,439 890,263 Expected return on plan assets (1,102,010 ) (1,172,278 ) Amortization of net (gain) loss 737,174 762,233 Net periodic benefit cost $ 625,603 $ 480,218 The portion of the accrued pension liability included in accumulated other comprehensive income at December 31, 2016 $8,041,983, $2,734,274. December 31, 2015 $8,388,698, $2,852,157. The estimated net actuarial loss that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost during 2017 $676,810. Actuarial assumptions used to determine benefit obligations and net periodic benefit cost are as follows: December 31, 2016 2015 Discount rate 3.95% 4.20% Expected return on plan assets 6.25% 6.25% The long-term rate of return for plan assets is determined based on an analysis of historical returns on invested assets, anticipated future fixed income, equity investment markets, and diversification needs. Long-term trends are evaluated relative to current market factors such as inflation, interest rates and investment strategies, including risk management, in order to assess the assumptions as applied to the plan. The Company employs a conservative investment strategy whereby the majority of invested assets are held in appropriate investments for defined benefit pension plans, including a small portion of plan assets held in common stock of the Company. The Company uses an independent third December 31, 2016 2015 Pooled separate accounts $ 18,471,796 $ 18,029,051 Company common stock - 31,000 shares 496,000 587,450 Pooled separate accounts held by the Pension Plan at December 31, 2016 2015 may may Shares of Company common stock held by the plan at December 31, 2016 2015 2 $6,510 $6,510 2016 2015 2016 2015. A summary of the allocation of plan assets by investment type is as follows: December 31, 2016 2015 Fixed income pooled separate accounts 64 % 68 % Equity pooled separate accounts 33 % 29 % Company common stock 3 % 3 % The Company expects to contribute approximately $360,000 2017. The following estimated future benefit payments are expected to be paid: Pension Benefits 2017 $ 2,550,000 2018 1,450,000 2019 1,440,000 2020 1,780,000 2021 1,790,000 2022-2026 8,430,000 The Company sponsors a 401(k) 401(k) 2012 401(k) 401(k) first five The Company also sponsors a traditional 401(k) 401(k) first 4% may Information relative to the assets within both the Old 401(k) December 31, 2016 2015 Old 401(k) Plan Company common stock: Shares held 265,294 276,590 Fair value $ 4,244,701 $ 5,241,377 Retirement Plan Mutual funds - fair value $ 3,671,794 $ 2,979,588 Year Ended December 31, 2016 2015 Old 401(k) Plan Employer contributions $ - $ - Dividends on Company stock 58,084 61,838 Retirement Plan Employer contributions $ 457,815 $ 453,576 In addition, the Company sponsors a deferred compensation plan for selected executive officers. Information relative to the assets within the deferred compensation plan, along with employer contributions expensed and dividends paid on Company stock, are as follows: December 31, 2016 2015 Company common stock: Shares held 30,100 27,350 Fair value $ 481,608 $ 518,292 Mutual funds - fair value 157,436 80,666 Cash and cash equivalents 6,471 6,227 Year Ended December 31, 2016 2015 Employer contributions $ 55,970 $ 50,263 Dividends on Company stock 5,744 4,340

Note 7 - Stockholders' Equity a

Note 7 - Stockholders' Equity and Dividend Restrictions	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 7 Statutory restrictions limit the amount of dividends which may may 10 December 31, 2017, $1,819,285.

Note 8 - Statutory Accounting P

Note 8 - Statutory Accounting Practices	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Statutory Accounting Practices Disclosures [Text Block]	NOTE 8 Investors Heritage Life's statutory-basis capital and surplus was $25,958,039 $21,202,435 December 31, 2016 2015, $2,073,521 $1,267,672 2016 2015, Principal adjustments to statutory amounts to derive GAAP amounts include: a) costs of acquiring new policies are deferred and amortized; b) benefit reserves are calculated using different investment, mortality and withdrawal assumptions; c) changes in deferred taxes associated with timing differences are recorded in net income rather than directly to equity; d) value of business acquired and goodwill established for acquired companies differ from admitted statutory goodwill; e) accounting for certain investments in debt securities is at fair value with unrealized gains and losses reported as a separate component of equity; f) statutory asset valuation reserves and interest maintenance reserves are eliminated; g) convertible option components of certain fixed maturities are bifurcated and recorded at market value with changes in market value recorded in the income statement; and h) the unamortized ceding commission relative to reinsured in-force blocks of business is calculated based on GAAP principles rather than statutory amounts, is recorded as a liability rather than as surplus, and follows a different amortization pattern into income.

Note 9 - Segment Data

Note 9 - Segment Data	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 9 The Company operates in four third Information relative to our operating segments as of and for the years ended December 31, 2016 2015 2016 2015 (000's omitted) Revenue: Preneed and burial products $ 52,245 $ 48,894 Traditional and universal life products 11,056 16,746 Administrative and financial services 1,469 1,357 Corporate and other 791 1,180 Total $ 65,561 $ 68,177 Pre-tax income (loss) from operations: Preneed and burial products $ 1,982 $ (496 ) Traditional and universal life products 504 742 Administrative and financial services 393 274 Corporate and other 113 384 Total $ 2,992 $ 904 Assets: Preneed and burial products $ 376,687 $ 374,793 Traditional and universal life products 123,000 123,823 Administrative and financial services 9,687 9,706 Corporate and other 69,984 61,716 Total $ 579,358 $ 570,038 Amortization and depreciation expense: Preneed and burial products $ 5,226 $ 5,641 Traditional and universal life products 752 1,538 Administrative and financial services 161 214 Corporate and other 256 310 Total $ 6,395 $ 7,703 Included in the corporate and other revenue and pre-tax income above and as a component of other income in the consolidated statement of income for the year ended December 31, 2015 $203,451 2016.

Note 10 - Reinsurance

Note 10 - Reinsurance	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Reinsurance [Text Block]	NOTE 10 Effective September 30, 2016, 100% September 30, 2016 $44,023,892 $329,414. $41,921,155. $880,055. 20 $1,471,858 $40,211 2016. $43,179,000 December 31, 2016. The Company ceded 100% 2016 2015 2016 2015, $228,369 $223,994, 9. December 31, 2016 2015 $1,441,190 $1,396,448, $8,098,452 $8,117,461 December 31, 2016 2015, Investors Heritage Life cedes 85% $17,466,000 $18,522,000 December 31, 2016 2015, Investors Heritage Life coinsures policy obligations written through its relationship with Puritan Financial Group to Puritan Life Insurance Company of America (“Puritan”). This reinsurance agreement was terminated with respect to new business effective July 31, 2015, 100% $17,967,000 $18,261,000 December 31, 2016 2015, Investors Heritage Life assumed 75% July 31, 2015. $447,000 $753,000 December 31, 2016 2015, $10,933,000 $11,267,000 December 31, 2016 2015, Reinsurance ceded and assumed amounts included in the consolidated statements of income are as follows: Year Ended December 31, 2016 2015 Premiums ceded $ 10,803,281 $ 12,511,080 Premiums assumed 465,962 781,863 Commission and expense allowances 4,171,811 4,457,058 Benefit recoveries 8,736,272 8,414,608 The Company remains contingently liable on all ceded insurance should any reinsurer be unable to meet their obligations.

Note 11 - Other Comprehensive I

Note 11 - Other Comprehensive Income	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	NOTE 11 The following tables present the pretax components of the Company’s other comprehensive income, and the related income tax expense (benefit) for each component. Year Ended December 31, 2016 Income Tax Expense Pretax (Benefit) Net of Tax Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during period $ 8,550,015 $ 2,907,005 $ 5,643,010 Reclassification adjustment for gains included in income (1,508,182 ) (512,782 ) (995,400 ) Adjustment for effect of deferred acquisition costs (211,683 ) (71,972 ) (139,711 ) Net unrealized gains on investments 6,830,150 2,322,251 4,507,899 Change in defined benefit pension plan: Actuarial net loss on pension plan (390,459 ) (132,756 ) (257,703 ) Amortization of actuarial net loss in net periodic pension cost 737,174 250,639 486,535 Net change in defined benefit pension plan 346,715 117,883 228,832 Total other comprehensive income $ 7,176,865 $ 2,440,134 $ 4,736,731 Year Ended December 31, 2015 Income Tax Expense Pretax (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized gains on available-for-sale securities: Unrealized holding losses arising during period $ (17,074,720 ) $ (5,805,405 ) $ (11,269,315 ) Reclassification adjustment for gains included in income (735,567 ) (250,093 ) (485,474 ) Adjustment for effect of deferred acquisition costs 462,249 157,165 305,084 Net unrealized losses on investments (17,348,038 ) (5,898,333 ) (11,449,705 ) Change in defined benefit pension plan: Actuarial net loss on pension plan (1,515,949 ) (515,422 ) (1,000,527 ) Amortization of actuarial net loss in net periodic pension cost 762,233 259,159 503,074 Net change in defined benefit pension plan (753,716 ) (256,263 ) (497,453 ) Total other comprehensive loss $ (18,101,754 ) $ (6,154,596 ) $ (11,947,158 ) Realized gains and losses on the sales of investments are determined based upon the specific identification method and include provisions for other-than-temporary impairments where appropriate. The change in the components of the Company’s accumulated other comprehensive income, net of tax, are as follows: Unrealized Gains Defined Accumulated (Losses) on Benefit Other Available-For-Sale Pension Comprehensive Securities Plans Income For the year ended December 31, 2016: Beginning balance $ 6,293,702 $ (5,536,541 ) $ 757,161 Other comprehensive income (loss) before reclassifications 5,503,299 (257,703 ) 5,245,596 Amounts reclassified from accumulated other comprehensive income (995,400 ) 486,535 (508,865 ) Net current period other comprehensive income 4,507,899 228,832 4,736,731 Ending balance $ 10,801,601 $ (5,307,709 ) $ 5,493,892 For the year ended December 31, 2015: Beginning balance $ 17,743,407 $ (5,039,088 ) $ 12,704,319 Other comprehensive loss before reclassifications (10,964,231 ) (1,000,527 ) (11,964,758 ) Amounts reclassified from accumulated other comprehensive income (485,474 ) 503,074 17,600 Net current period other comprehensive loss (11,449,705 ) (497,453 ) (11,947,158 ) Ending balance $ 6,293,702 $ (5,536,541 ) $ 757,161 The following table presents the pretax and the related income tax components of the amounts reclassified from the Company’s accumulated other comprehensive income to the Company’s consolidated statement of income. Year Ended December 31, Reclassification Adjustments 2016 2015 Unrealized gains on available-for-sale securities: Realized gains on securities (a) $ 1,508,182 $ 735,567 Income tax expense (c) (512,782 ) (250,093 ) Net of tax 995,400 485,474 Defined benefit pension plans: Amortization of actuarial net loss (b) (737,174 ) (762,233 ) Income tax benefit (c) 250,639 259,159 Net of tax (486,535 ) (503,074 ) Total reclassifications for the period $ 508,865 $ (17,600 ) (a) These items appear within net realized gains on investments in the consolidated income statements. (b) These items are included in the computation of net periodic benefit cost (see Note 6). (c) These items appear within federal income taxes in the consolidated income statements.

Note 12 - Contingent Liabilitie

Note 12 - Contingent Liabilities	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Contingencies Disclosure [Text Block]	NOTE 12 In most of the states in which the Company is licensed to do business, guaranty fund assessments may five The Company is not currently named as a defendant in any legal actions.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation:
Consolidation, Policy [Policy Text Block]	Principles of Consolidation:
Use of Estimates, Policy [Policy Text Block]	Use of Estimates:
Investment, Policy [Policy Text Block]	Investments: Premiums and discounts on fixed maturity investments are amortized into income using the interest method. Anticipated prepayments on mortgage-backed securities are considered in the determination of the effective yield on such securities. If a difference arises between anticipated prepayments and actual prepayments, the carrying amounts of the investments are adjusted with a corresponding charge or credit to interest income. Realized gains and losses on the sales of investments are determined based upon the specific identification method and include provisions for other-than-temporary impairments where appropriate, as discussed in further detail in Note 2 If an other-than-temporary impairment occurs with respect to a bond, the reduced book value is amortized back to the security’s expected recovery value over the remaining term of the bond. The Company continues to review the security for further impairment that would prompt another write-down in the value. Mortgage loans are carried at their aggregate principal balance, adjusted for any unamortized premium or discount. Policy loans are carried at their aggregate principal balance. State-guaranteed receivables represent an assignment of the future rights to cash flows from lottery winners purchased at a discounted price. Payments on these investments are made by state run lotteries and guaranteed by the states. The state-guaranteed receivables are carried at their amortized cost basis. Investments in convertible options represent the bifurcated equity derivative portion of convertible security investments. These investments are recorded at their market value with changes in the market value recorded as a component of net investment income on the income statement. Other invested assets include real estate investments and notes receivable. Real estate investments are carried at cost less accumulated depreciation. Notes receivable are carried at their aggregate principal balance. Short-term investments represent securities with maturity dates within one three Cash equivalents include money market funds on deposit at various financial institutions with contractual maturity dates within three
Deferred Policy Acquisition Costs, Policy [Policy Text Block]	Deferred Acquisition Costs: Deferred acquisition costs related to annuities and universal life insurance products are deferred to the extent deemed recoverable and amortized in relation to the present value of actual and expected gross profits on the policies. To the extent that realized gains and losses on fixed income securities result in adjustments to deferred acquisition costs related to annuities, such adjustments are reflected as a component of the amortization of deferred acquisition costs. Deferred acquisition costs related to annuities and universal life insurance products are also adjusted, net of tax, for the change in amortization that would have been recorded if the unrealized gains (losses) from securities had actually been realized. This adjustment is included in the change in net unrealized appreciation (depreciation) on available-for-sale securities, a component of "Accumulated Other Comprehensive Income" in the stockholders' equity section of the balance sheet.
Intangible Assets Arising from Insurance Contracts Acquired in Business Combination, Policy [Policy Text Block]	Value of Business Acquired: 2016 2015 $70,012 $75,761, $766,092 $696,080 December 31, 2016 2015, $63,000, $44,000, $13,000, $8,000, $7,000 2017 2021,
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment: $4,072,622 $3,991,112 December 31, 2016 2015,
Lease, Policy [Policy Text Block]	Capital Leases: 2016, no 2015, one $184,100 2016 2015 $319,762 $395,024, 2017 2018 $74,034 $6,259, December 31, 2016 $72,209, $80,292 $8,083. $895,570 $745,601 December 31, 2016 2015,
Cash Value Of Company Owned Life Insurance Policy [Policy Text Block]	Cash Value of Company-Owned Life Insurance:
Liability Reserve Estimate, Policy [Policy Text Block]	Benefit Reserves and Policyholder Deposits: Benefit reserves and policyholder deposits on universal life and investment-type products are determined by using the retrospective deposit method and represent the policy account value before consideration of surrender charges. In addition, unearned revenues are included as a part of the benefit reserve. The mortality assumptions for regular ordinary business are based on the 1955 60 1982; 1965 70 1982 1984; 1975 80 1984; 2001 2008;
Reinsurance Accounting Policy [Policy Text Block]	Reinsurance: December 31, 2016 2015, $98,444,173 $56,332,692, $97,514,013 $55,510,620 December 31, 2016 2015, 10
Unearned Premium Reserves [Policy Text Block]	Unearned Premium Reserves: 78's 78's.
Unpaid Policy Claims and Claims Adjustment Expense, Policy [Policy Text Block]	Policy Claims: At December 31, 2016 2015, $600,226 $721,592,
Deposit Contracts, Policy [Policy Text Block]	Liability for Deposit-Type Contracts:
Participating Policy [Policy Text Block]	Participating Policies: 14% 15% December 31, 2016 2015, 3% December 31, 2016 2015. 3% 1941 1958 The liability for future policy benefits of the Texas Memorial Life and Memorial Service Life blocks of participating business was determined based on the 2001 1980 The average assumed investment yields used in determining expected gross profits ranged from 3.56% 9.17% 4.50%
Revenue Recognition, Deferred Revenue [Policy Text Block]	Deferred Revenue on Reinsurance Ceded : 10. 20 $1,471,858. $40,211 2016.
Income Tax, Policy [Policy Text Block]	Federal Income Taxes:
Insurance Premiums Revenue Recognition, Policy [Policy Text Block]	Revenues and Expenses: Revenues for universal life and investment-type products consist of investment income and policy charges for the cost of insurance and policy initiation and administrative fees. Expenses include interest credited to policy account balances, actual administrative expenses and benefit payments in excess of policy account balances. Other income consists principally of third
Stockholders' Equity, Policy [Policy Text Block]	Common Stock and Earnings per Share: $1.00 4,000,000 2016 2015 1,111,660 1,120,306 $0.21 2016 2015.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events: December 31, 2016
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards: July 2015, three December 15, 2015. In May 2014, may August 2015, December 15, 2017, In January 2016, December 15, 2017. 2 In February 2016, December 15, 2018. In June 2016, December 15, 2019, December 15, 2018. In August 2016, eight December 15, 2017, 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 to the Company at this time or were not expected to have a material impact to the consolidated financial statements.

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	December 31, 2016 Amortized Gross Unrealized Gross Unrealized Fair Cost Gains Losses Value Available-for-sale securities: Fixed maturities: U.S. government obligations $ 21,882,312 $ 360,723 $ 9,416 $ 22,233,619 States and political subdivisions 35,403,214 4,153,294 31,260 39,525,248 Corporate 202,578,595 9,355,481 953,527 210,980,549 Foreign 51,081,850 1,731,092 283,363 52,529,579 Mortgage-backed securities (MBS): Commercial MBS 6,717,214 198,857 - 6,916,071 Residential MBS 32,065,365 1,314,373 72,741 33,306,997 Corporate redeemable preferred stock 856,774 24,314 25,152 855,936 Total fixed maturity securities 350,585,324 17,138,134 1,375,459 366,347,999 Equity securities: U.S. agencies 707,900 - - 707,900 Mutual funds 318,284 28,840 - 347,124 Corporate common stock 6,665,413 1,370,651 335,020 7,701,044 Total equity securities 7,691,597 1,399,491 335,020 8,756,068 Total $ 358,276,921 $ 18,537,625 $ 1,710,479 $ 375,104,067 December 31, 2015 Amortized Gross Unrealized Gross Unrealized Fair Cost Gains Losses Value Available-for-sale securities: Fixed maturities: U.S. government obligations $ 23,373,714 $ 642,038 $ - $ 24,015,752 States and political subdivisions 36,830,198 4,511,826 136,585 41,205,439 Corporate 229,425,035 10,338,999 4,587,896 235,176,138 Foreign 65,010,084 1,731,076 4,682,638 62,058,522 Asset-backed securities 143,552 457 - 144,009 Mortgage-backed securities (MBS): Commercial MBS 6,830,520 148,314 15,592 6,963,242 Residential MBS 37,200,599 1,776,233 62,255 38,914,577 Corporate redeemable preferred stock 711,915 - 42,787 669,128 Total fixed maturity securities 399,525,617 19,148,943 9,527,753 409,146,807 Equity securities: U.S. agencies 707,900 - - 707,900 Mutual funds 318,284 - 14,253 304,031 Corporate common stock 6,426,482 702,497 524,121 6,604,858 Total equity securities 7,452,666 702,497 538,374 7,616,789 Total $ 406,978,283 $ 19,851,440 $ 10,066,127 $ 416,763,596
Schedule of Temporary Impairment Losses, Investments [Table Text Block]	December 31, 2016 December 31, 2015 Gross Number Gross Number Estimated Unrealized of Estimated Unrealized of Fair Value Loss Securities Fair Value Loss Securities Fixed maturities: Less than 12 months: U.S. government obligations $ 7,892,992 $ 9,416 2 $ - $ - - States and political subdivisions 968,740 31,260 1 1,613,415 136,585 2 Corporate 30,370,227 753,570 27 55,039,213 3,873,158 52 Foreign 10,215,322 283,355 11 24,154,510 1,418,143 20 Commercial MBS - - - 1,447,694 15,592 2 Residential MBS 3,003,214 72,741 2 3,320,890 62,255 2 Corporate redeemable preferred stock 17,488 493 1 669,128 42,787 2 Greater than 12 months: Corporate 2,997,784 199,957 2 5,533,581 714,738 4 Foreign 197,700 8 1 6,007,156 3,264,495 4 Corporate redeemable preferred stock 205,423 24,659 1 - - - Total fixed maturities 55,868,890 1,375,459 48 97,785,587 9,527,753 88 Equity securities: Less than 12 months: Mutual funds - - - 304,031 14,253 1 Corporate common stock 1,004,821 136,117 6 2,449,672 473,551 15 Greater than 12 months: Corporate common stock 873,083 198,903 7 183,960 50,570 3 Total equities 1,877,904 335,020 13 2,937,663 538,374 19 Total $ 57,746,794 $ 1,710,479 61 $ 100,723,250 $ 10,066,127 107
Unrealized Gain (Loss) on Investments [Table Text Block]	December 31, 2016 2015 Net unrealized appreciation on available-for sale securities $ 16,827,146 $ 9,785,313 Adjustment to deferred acquisition costs (461,084 ) (249,401 ) Deferred income taxes (5,564,461 ) (3,242,210 ) Net unrealized appreciation on available-for sale securities $ 10,801,601 $ 6,293,702
Investments Classified by Contractual Maturity Date [Table Text Block]	Available-for-Sale Amortized Fair Cost Value Due in one year or less $ 11,282,653 $ 11,454,020 Due after one year through five years 100,288,408 106,474,899 Due after five years through ten years 131,988,499 135,072,291 Due after ten years 48,697,265 53,377,415 Due at multiple maturity dates 58,328,499 59,969,374 Total $ 350,585,324 $ 366,347,999
Realized Gain (Loss) on Investments [Table Text Block]	Year Ended December 31, 2016 2015 Proceeds from sales and maturities $ 81,300,412 $ 37,200,703 Gross realized gains 2,360,747 939,423 Gross realized losses (734,298 ) (203,856 ) Other-than-temporary impairment loss (118,267 ) -
Realized and Unrealized Gain (Loss) on Investments [Table Text Block]	Year Ended December 31, 2016 2015 Change in net unrealized investment gains (losses): Securities available-for-sale: Fixed maturities $ 6,141,485 $ (16,900,027 ) Equity securities 900,348 (910,260 ) Net realized investment gains (losses): Securities available-for-sale: Fixed maturities $ 1,460,321 $ 91,141 Equity securities 166,128 644,426 Other-than-temporary impairment loss (118,267 ) - Mortgage loans on real estate - 75,915 Investments in convertible options 47,940 7,223
Schedule of Mortgage Loans on Real Estate [Table Text Block]	December 31, 2016 2015 Florida $ 5,253,110 $ 3,906,034 Texas 5,191,186 5,694,612 Illinois 4,787,454 6,046,408 California 3,591,584 3,366,434 Georgia 3,487,991 2,671,788 Missouri 3,107,289 1,342,845 Ohio 3,083,440 1,692,354 Kentucky 2,402,800 3,241,793 Arizona 1,490,538 774,060 New Jersey 1,196,156 247,723 Colorado 1,190,873 222,364 Tennessee 1,048,452 895,607 Indiana 893,431 759,139 Virginia 800,635 - North Carolina 757,004 353,275 Oregon 487,824 - Pennsylvania 479,720 370,323 Nevada 479,182 373,359 Utah 343,533 77,939 Washington 231,939 - West Virginia 225,578 412,250 South Carolina 199,101 225,881 Massachusetts 169,681 205,469 Idaho 142,745 159,073 Kansas 134,396 135,401 Michigan 126,750 - Total $ 41,302,392 $ 33,174,131
State-guaranteed Receivables Classified by Contractual Maturity Date [Table Text Block]	State-Guaranteed Receivables Amortized Fair Cost Value Due in one year or less $ 1,094,070 $ 1,106,879 Due after one year through five years 4,065,183 4,418,206 Due after five years through ten years 4,334,493 5,210,810 Due after ten years 2,090,935 3,202,929 Total $ 11,584,681 $ 13,938,824
Schedule Of Payments On State Guaranteed Receivables By State [Table Text Block]	December 31, 2016 2015 New York $ 3,446,349 $ 3,496,115 Massachusetts 3,126,011 1,991,601 Georgia 2,012,845 1,432,022 Washington 653,235 - Indiana 417,811 - Pennsylvania 318,019 294,968 Texas 261,396 243,939 California 171,590 180,143 Ohio 1,177,425 54,171 Total $ 11,584,681 $ 7,692,959
Investment Income [Table Text Block]	Year Ended December 31, 2016 2015 Fixed maturities $ 18,135,421 $ 18,296,411 Equity securities 316,238 295,368 Mortgage loans on real estate 2,654,165 2,316,721 Policy loans 481,912 494,299 State-guaranteed receivables 661,309 545,120 Gain (loss) on investments in convertible options (9,850 ) 102,342 Other 221,067 219,037 Gross investment income 22,460,262 22,269,298 Investment expenses 1,052,030 1,031,985 Net investment income $ 21,408,232 $ 21,237,313

Note 3 - Fair Values of Finan22

Note 3 - Fair Values of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	December 31, 2016 Level 1 Level 2 Level 3 Total U.S. government obligations $ - $ 22,233,619 $ - $ 22,233,619 States and political subdivisions - 39,525,248 - 39,525,248 Corporate - 210,980,549 - 210,980,549 Foreign - 52,529,579 - 52,529,579 Mortgage-backed securities: Commercial MBS - 6,916,071 - 6,916,071 Residential MBS - 33,306,997 - 33,306,997 Corporate redeemable preferred stock - 855,936 - 855,936 Total fixed maturities $ - $ 366,347,999 $ - $ 366,347,999 U.S. agencies $ 707,900 $ - $ - $ 707,900 Mutual funds 347,124 - - 347,124 Corporate common stock 7,253,044 - 448,000 7,701,044 Total equity securities $ 8,308,068 $ - $ 448,000 $ 8,756,068 Investments in convertible options $ - $ 983,950 $ - $ 983,950 December 31, 2015 Level 1 Level 2 Level 3 Total U.S. government obligations $ - $ 24,015,752 $ - $ 24,015,752 States and political subdivisions - 41,205,439 - 41,205,439 Corporate - 235,176,138 - 235,176,138 Foreign - 62,058,522 - 62,058,522 Asset-backed securities - 144,009 - 144,009 Mortgage-backed securities: Commercial MBS - 6,963,242 - 6,963,242 Residential MBS - 38,914,577 - 38,914,577 Corporate redeemable preferred stock - 669,128 - 669,128 Total fixed maturities $ - $ 409,146,807 $ - $ 409,146,807 U.S. agencies $ 707,900 $ - $ - $ 707,900 Mutual funds 304,031 - - 304,031 Corporate common stock 6,252,858 - 352,000 6,604,858 Total equity securities $ 7,264,789 $ - $ 352,000 $ 7,616,789 Investments in convertible options $ - $ 957,405 $ - $ 957,405
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Year Ended December 31, 2016 2015 Corporate common stock: Beginning balance $ 352,000 $ 384,000 Transfers into Level 3 - - Transfers out of Level 3 - - Purchases - - Sales - - Total gains or losses: Included in earnings - - Included in other comprehensive income (loss) 96,000 (32,000 ) Ending balance $ 448,000 $ 352,000
Fair Value, by Balance Sheet Grouping [Table Text Block]	December 31, 2016 Carrying Fair Amount Value Level 1 Level 2 Level 3 Assets: Mortgage loans on real estate: Commercial $ 10,819,996 $ 11,084,097 $ - $ - $ 11,084,097 Residential 30,482,396 33,992,592 - - 33,992,592 Policy loans 6,336,277 6,336,277 - - 6,336,277 State-guaranteed receivables 11,584,681 13,938,824 - 13,938,824 - Other invested assets 1,951,830 1,951,830 - - 1,951,830 Cash and cash equivalents 3,297,917 3,297,917 3,297,917 - - Accrued investment income 4,433,680 4,433,680 - - 4,433,680 Cash value of company-owned life insurance 13,855,560 13,855,560 - - 13,855,560 Liabilities: Policyholder deposits (Investment-type contracts) 51,870,288 51,304,889 - - 51,304,889 Policy claims 2,637,220 2,637,220 - - 2,637,220 Obligations under capital leases 72,209 72,209 - - 72,209 Notes payable 971,851 971,851 - - 971,851 December 31, 2015 Carrying Fair Amount Value Level 1 Level 2 Level 3 Assets: Mortgage loans on real estate: Commercial $ 12,419,443 $ 12,895,965 $ - $ - $ 12,895,965 Residential 20,754,688 23,032,713 - - 23,032,713 Policy loans 6,702,911 6,702,911 - - 6,702,911 State-guaranteed receivables 7,692,959 9,094,934 - 9,094,934 - Other invested assets 2,379,451 2,379,451 - - 2,379,451 Cash and cash equivalents 3,619,663 3,619,663 3,619,663 - - Accrued investment income 5,149,612 5,149,612 - - 5,149,612 Cash value of company-owned life insurance 13,191,773 13,191,773 - - 13,191,773 Liabilities: Policyholder deposits (Investment-type contracts) 52,694,746 53,880,242 - - 53,880,242 Policy claims 2,584,088 2,584,088 - - 2,584,088 Obligations under capital leases 377,259 377,259 - - 377,259 Notes payable 1,433,448 1,433,448 - - 1,433,448

Note 4 - Federal Income Taxes (

Note 4 - Federal Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2016 2015 Deferred tax liabilities: Policy acquisition costs $ 2,427,869 $ 2,675,908 Net unrealized gain on available-for-sale securities 5,564,461 3,242,210 Due premiums 922,868 957,825 Other 768,852 695,201 Total deferred tax liabilities 9,684,050 7,571,144 Deferred tax assets: Benefit reserves, net of reinsurance 2,626,693 3,137,466 Other policyholder funds 337,333 363,106 AMT credit carryforwards 656,087 565,828 Accrued pension liability 2,047,230 2,065,628 Deferred revenue on reinsurance ceded 486,760 - Other-than-temporary impairments 40,211 - Other 232,793 333,340 Total deferred tax assets 6,427,107 6,465,368 Net deferred tax liabilities $ 3,256,943 $ 1,105,776
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2016 2015 Statutory federal income tax rate 34.0 % 34.0 % Small life insurance company deduction (17.2 ) (19.2 ) Dividends-received deduction (0.9 ) (2.7 ) Defined contribution plan dividend (0.7 ) (2.3 ) Nondeductible COLI expense (5.2 ) (16.3 ) Nontaxable COLI life insurance proceeds - (7.7 ) Nondeductible travel & meals expense 0.6 2.5 True-up of provision to actual 0.1 1.7 Other 0.4 (4.7 ) Effective income tax rate 11.1 % (14.7 ) %

Note 5 - Notes Payable (Tables)

Note 5 - Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Debt [Table Text Block]	December 31, 2016 Outstanding Current Maturity Interest Interest Principal Interest Rate Date Expense Paid At Need Funding line of credit $ 133,878 3.75% 3/24/2017 $ 7,343 $ 6,734 Bank note 837,973 3.50% 11/25/2019 44,101 48,961 December 31, 2015 Outstanding Current Maturity Interest Interest Principal Interest Rate Date Expense Paid At Need Funding line of credit $ 59,484 3.50% 3/24/2017 $ 19,301 $ 20,002 Bank note 1,373,964 3.25% 11/25/2019 32,186 35,194

Note 6 - Employee Benefit Pla25

Note 6 - Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	December 31, 2016 2015 Change in projected benefit obligation: Benefit obligation at beginning of year $ 24,691,877 $ 24,975,342 Service cost - - Interest cost 990,439 890,263 Actuarial (gain) loss 627,361 (5,930 ) Benefits paid (1,320,617 ) (1,167,798 ) Benefit obligation at end of year 24,989,060 24,691,877 Change in plan assets: Fair value of plan assets at beginning of year 18,616,501 19,833,900 Actual return on plan assets 1,338,912 (349,601 ) Employer contributions 333,000 300,000 Benefits paid (1,320,617 ) (1,167,798 ) Fair value of plan assets at end of year 18,967,796 18,616,501 Funded status (6,021,264 ) (6,075,376 ) Unrecognized net actuarial loss 8,041,983 8,388,698 Net amount recognized as prepaid benefit cost $ 2,020,719 $ 2,313,322 Accumulated benefit obligation $ 24,989,060 $ 24,691,877 Year Ended December 31, 2016 2015 Components of net periodic benefit cost: Service cost $ - $ - Interest cost 990,439 890,263 Expected return on plan assets (1,102,010 ) (1,172,278 ) Amortization of net (gain) loss 737,174 762,233 Net periodic benefit cost $ 625,603 $ 480,218
Schedule of Assumptions Used [Table Text Block]	December 31, 2016 2015 Discount rate 3.95% 4.20% Expected return on plan assets 6.25% 6.25%
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]	December 31, 2016 2015 Pooled separate accounts $ 18,471,796 $ 18,029,051 Company common stock - 31,000 shares 496,000 587,450
Schedule of Allocation of Plan Assets [Table Text Block]	December 31, 2016 2015 Fixed income pooled separate accounts 64 % 68 % Equity pooled separate accounts 33 % 29 % Company common stock 3 % 3 %
Schedule of Expected Benefit Payments [Table Text Block]	Pension Benefits 2017 $ 2,550,000 2018 1,450,000 2019 1,440,000 2020 1,780,000 2021 1,790,000 2022-2026 8,430,000
Defined Contributions Schedule [Table Text Block]	December 31, 2016 2015 Old 401(k) Plan Company common stock: Shares held 265,294 276,590 Fair value $ 4,244,701 $ 5,241,377 Retirement Plan Mutual funds - fair value $ 3,671,794 $ 2,979,588 Year Ended December 31, 2016 2015 Old 401(k) Plan Employer contributions $ - $ - Dividends on Company stock 58,084 61,838 Retirement Plan Employer contributions $ 457,815 $ 453,576
Deferred Compensation Arrangement with Individual Disclosure, Postretirement Benefits [Table Text Block]	December 31, 2016 2015 Company common stock: Shares held 30,100 27,350 Fair value $ 481,608 $ 518,292 Mutual funds - fair value 157,436 80,666 Cash and cash equivalents 6,471 6,227 Year Ended December 31, 2016 2015 Employer contributions $ 55,970 $ 50,263 Dividends on Company stock 5,744 4,340

Note 9 - Segment Data (Tables)

Note 9 - Segment Data (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	2016 2015 (000's omitted) Revenue: Preneed and burial products $ 52,245 $ 48,894 Traditional and universal life products 11,056 16,746 Administrative and financial services 1,469 1,357 Corporate and other 791 1,180 Total $ 65,561 $ 68,177 Pre-tax income (loss) from operations: Preneed and burial products $ 1,982 $ (496 ) Traditional and universal life products 504 742 Administrative and financial services 393 274 Corporate and other 113 384 Total $ 2,992 $ 904 Assets: Preneed and burial products $ 376,687 $ 374,793 Traditional and universal life products 123,000 123,823 Administrative and financial services 9,687 9,706 Corporate and other 69,984 61,716 Total $ 579,358 $ 570,038 Amortization and depreciation expense: Preneed and burial products $ 5,226 $ 5,641 Traditional and universal life products 752 1,538 Administrative and financial services 161 214 Corporate and other 256 310 Total $ 6,395 $ 7,703

Note 10 - Reinsurance (Tables)

Note 10 - Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule Of Reinsurance Ceded And Assumed [Table Text Block]	Year Ended December 31, 2016 2015 Premiums ceded $ 10,803,281 $ 12,511,080 Premiums assumed 465,962 781,863 Commission and expense allowances 4,171,811 4,457,058 Benefit recoveries 8,736,272 8,414,608

Note 11 - Other Comprehensive28

Note 11 - Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Year Ended December 31, 2016 Income Tax Expense Pretax (Benefit) Net of Tax Other comprehensive income: Change in net unrealized gains on available-for-sale securities: Unrealized holding gains arising during period $ 8,550,015 $ 2,907,005 $ 5,643,010 Reclassification adjustment for gains included in income (1,508,182 ) (512,782 ) (995,400 ) Adjustment for effect of deferred acquisition costs (211,683 ) (71,972 ) (139,711 ) Net unrealized gains on investments 6,830,150 2,322,251 4,507,899 Change in defined benefit pension plan: Actuarial net loss on pension plan (390,459 ) (132,756 ) (257,703 ) Amortization of actuarial net loss in net periodic pension cost 737,174 250,639 486,535 Net change in defined benefit pension plan 346,715 117,883 228,832 Total other comprehensive income $ 7,176,865 $ 2,440,134 $ 4,736,731 Year Ended December 31, 2015 Income Tax Expense Pretax (Benefit) Net of Tax Other comprehensive loss: Change in net unrealized gains on available-for-sale securities: Unrealized holding losses arising during period $ (17,074,720 ) $ (5,805,405 ) $ (11,269,315 ) Reclassification adjustment for gains included in income (735,567 ) (250,093 ) (485,474 ) Adjustment for effect of deferred acquisition costs 462,249 157,165 305,084 Net unrealized losses on investments (17,348,038 ) (5,898,333 ) (11,449,705 ) Change in defined benefit pension plan: Actuarial net loss on pension plan (1,515,949 ) (515,422 ) (1,000,527 ) Amortization of actuarial net loss in net periodic pension cost 762,233 259,159 503,074 Net change in defined benefit pension plan (753,716 ) (256,263 ) (497,453 ) Total other comprehensive loss $ (18,101,754 ) $ (6,154,596 ) $ (11,947,158 )
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Unrealized Gains Defined Accumulated (Losses) on Benefit Other Available-For-Sale Pension Comprehensive Securities Plans Income For the year ended December 31, 2016: Beginning balance $ 6,293,702 $ (5,536,541 ) $ 757,161 Other comprehensive income (loss) before reclassifications 5,503,299 (257,703 ) 5,245,596 Amounts reclassified from accumulated other comprehensive income (995,400 ) 486,535 (508,865 ) Net current period other comprehensive income 4,507,899 228,832 4,736,731 Ending balance $ 10,801,601 $ (5,307,709 ) $ 5,493,892 For the year ended December 31, 2015: Beginning balance $ 17,743,407 $ (5,039,088 ) $ 12,704,319 Other comprehensive loss before reclassifications (10,964,231 ) (1,000,527 ) (11,964,758 ) Amounts reclassified from accumulated other comprehensive income (485,474 ) 503,074 17,600 Net current period other comprehensive loss (11,449,705 ) (497,453 ) (11,947,158 ) Ending balance $ 6,293,702 $ (5,536,541 ) $ 757,161
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Year Ended December 31, Reclassification Adjustments 2016 2015 Unrealized gains on available-for-sale securities: Realized gains on securities (a) $ 1,508,182 $ 735,567 Income tax expense (c) (512,782 ) (250,093 ) Net of tax 995,400 485,474 Defined benefit pension plans: Amortization of actuarial net loss (b) (737,174 ) (762,233 ) Income tax benefit (c) 250,639 259,159 Net of tax (486,535 ) (503,074 ) Total reclassifications for the period $ 508,865 $ (17,600 )

Note 1 - Nature of Operations29

Note 1 - Nature of Operations and Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Sep. 30, 2016USD ($)
Percent of Revenue	99.00%
Amortization of Value of Business Acquired (VOBA)	$ 70,012	$ 75,761
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 4,072,622	$ 3,991,112
Common Stock, Dividends, Per Share, Cash Paid | $ / shares	$ 0.21	$ 0.21
Capital Leased Assets Number Of Units New During Period	0	1
Capital Lease Obligations Incurred		$ 184,100
Repayments of Long-term Capital Lease Obligations	$ 319,762	395,024
Capital Leases, Future Minimum Payments Due, Next Twelve Months	74,034
Capital Leases, Future Minimum Payments Due in Two Years	6,259
Capital Lease Obligations	72,209	377,259
Capital Leases, Future Minimum Payments Due	80,292
Capital Leases, Future Minimum Payments, Interest Included in Payments	8,083
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation	895,570	745,601
Reinsurance Recoverables, Including Reinsurance Premium Paid	98,444,173	56,332,692
Policy Claims Liability Estimate of Outstanding Claims	$ 600,226	$ 721,592
Participating Policies as Percentage of Gross Insurance in Force	14.00%	15.00%
Liability for Future Policy Benefit by Product Segment, Interest Rate, Year of Issue	3.00%	3.00%
Investment Yields Used For Expected Gross Profits	4.50%
Reinsurance Contract Life	20 years
Deferred Revenue	$ 1,431,647		$ 1,471,858
Deferred Revenue, Revenue Recognized	$ 40,211
Common Stock, Par or Stated Value Per Share | $ / shares	$ 1
Common Stock, Shares Authorized | shares	4,000,000
Weighted Average Number of Shares Outstanding, Basic | shares	1,111,660	1,120,306
Reserves Ceded To Reinsurers [Member]
Reinsurance Recoverables, Including Reinsurance Premium Paid	$ 97,514,013	$ 55,510,620
Insurance Contracts Acquired in Business Combination [Member]
Finite-Lived Intangible Assets, Accumulated Amortization	766,092	$ 696,080
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	63,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	44,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	13,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	8,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 7,000
Minimum [Member]
Short Term Investments Maturity Date Term	1 year
Investment Yields Used For Expected Gross Profits	3.56%
Maximum [Member]
Short Term Investments Maturity Date Term	3 years
Investment Yields Used For Expected Gross Profits	9.17%

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities	$ 118,267	$ 0
Restricted Cash and Investments	$ 22,724,783	$ 22,899,132
Mortgage Loans, Commercial, Percentage	26.20%	37.40%
Mortgage Loans, Residential, Percentage	73.80%	62.60%
Maximum Loan to Value Ratio Required	80.00%
Minimum Debt Service Coverage Required	115.00%
Real Estate Investment Property, at Cost	$ 1,126,649	$ 1,126,649
Real Estate Investment Property, Accumulated Depreciation	612,194	586,762
Investments in Convertible Options, Fair Value	983,950	957,405
Investments in Convertible Securities, Gain (Loss)	(9,850)	102,342
Investments in Convertible Securities, Net Realized Gain (Loss) on Exchange	47,940	7,223
Mortgage Loans in Process of Foreclosure Amount	0	0
Mortgage Loan Defaults, Amount	0	0
Mortgage Loans Modifications Recorded Investment	0	0
Nonperforming Financial Instruments [Member]
Mortgage Loans on Real Estate, Carrying Amount of Mortgages	0	0
Nonaccrual Status [Member]
Mortgage Loans on Real Estate, Carrying Amount of Mortgages	0	0
Mortgage Loans Equal to Greater than 90 Days Past Due [Member]
Mortgage Loans on Real Estate, Carrying Amount of Mortgages	$ 0	$ 0
Fixed Maturities [Member]
Percentage of Portfolio Measured	100.00%	97.40%
Minimum Fair Value to Cost Ratio	80.00%	80.00%
Equity Securities [Member]
Percentage of Portfolio Measured	94.00%	93.40%
Minimum Fair Value to Cost Ratio	80.00%	80.00%

Note 2 - Investments - Availabl

Note 2 - Investments - Available-for-sale Securities (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Fixed maturity securities, amortized cost	$ 350,585,324	$ 399,525,617
Fixed maturity securities, gross unrealized gains	17,138,134	19,148,943
Fixed maturity securities, gross unrealized losses	1,375,459	9,527,753
Fixed maturity securities	366,347,999	409,146,807
Equity securities, amortized cost	7,691,597	7,452,666
Equity securities, gross unrealized gains	1,399,491	702,497
Equity securities, gross unrealized losses	335,020	538,374
Equity securities	8,756,068	7,616,789
Securities, amortized cost	358,276,921	406,978,283
Securities, gross unrealized gains	18,537,625	19,851,440
Securities, gross unrealized losses	1,710,479	10,066,127
Securities	375,104,067	416,763,596
US Government Agencies Debt Securities [Member]
Fixed maturity securities, amortized cost	21,882,312	23,373,714
Fixed maturity securities, gross unrealized gains	360,723	642,038
Fixed maturity securities, gross unrealized losses	9,416
Fixed maturity securities	22,233,619	24,015,752
US States and Political Subdivisions Debt Securities [Member]
Fixed maturity securities, amortized cost	35,403,214	36,830,198
Fixed maturity securities, gross unrealized gains	4,153,294	4,511,826
Fixed maturity securities, gross unrealized losses	31,260	136,585
Fixed maturity securities	39,525,248	41,205,439
Corporate Debt Securities [Member]
Fixed maturity securities, amortized cost	202,578,595	229,425,035
Fixed maturity securities, gross unrealized gains	9,355,481	10,338,999
Fixed maturity securities, gross unrealized losses	953,527	4,587,896
Fixed maturity securities	210,980,549	235,176,138
Foreign [Member]
Fixed maturity securities, amortized cost	51,081,850	65,010,084
Fixed maturity securities, gross unrealized gains	1,731,092	1,731,076
Fixed maturity securities, gross unrealized losses	283,363	4,682,638
Fixed maturity securities	52,529,579	62,058,522
Asset-backed Securities [Member]
Fixed maturity securities, amortized cost		143,552
Fixed maturity securities, gross unrealized gains		457
Fixed maturity securities, gross unrealized losses
Fixed maturity securities		144,009
Commercial Mortgage Backed Securities [Member]
Fixed maturity securities, amortized cost	6,717,214	6,830,520
Fixed maturity securities, gross unrealized gains	198,857	148,314
Fixed maturity securities, gross unrealized losses		15,592
Fixed maturity securities	6,916,071	6,963,242
Residential Mortgage Backed Securities [Member]
Fixed maturity securities, amortized cost	32,065,365	37,200,599
Fixed maturity securities, gross unrealized gains	1,314,373	1,776,233
Fixed maturity securities, gross unrealized losses	72,741	62,255
Fixed maturity securities	33,306,997	38,914,577
Redeemable Preferred Stock [Member]
Fixed maturity securities, amortized cost	856,774	711,915
Fixed maturity securities, gross unrealized gains	24,314
Fixed maturity securities, gross unrealized losses	25,152	42,787
Fixed maturity securities	855,936	669,128
U.S. Agencies [Member]
Equity securities, amortized cost	707,900	707,900
Equity securities, gross unrealized gains
Equity securities, gross unrealized losses
Equity securities	707,900	707,900
Mutual Funds [Member]
Equity securities, amortized cost	318,284	318,284
Equity securities, gross unrealized gains	28,840
Equity securities, gross unrealized losses		14,253
Equity securities	347,124	304,031
Common Stock [Member]
Equity securities, amortized cost	6,665,413	6,426,482
Equity securities, gross unrealized gains	1,370,651	702,497
Equity securities, gross unrealized losses	335,020	524,121
Equity securities	$ 7,701,044	$ 6,604,858

Note 2 - Investments - Securiti

Note 2 - Investments - Securities in a Continuous Unrealized Loss Position (Details)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Securities in continuous loss position, fair value	$ 57,746,794	$ 100,723,250
Securities in continuous loss position, gross unrealized loss	$ 1,710,479	$ 10,066,127
Securities in continuous loss position, number of securities	61	107
US Government Agencies Debt Securities [Member]
Securities in continuous loss position, less than 12 months, fair value	$ 7,892,992
Securities in continuous loss position, less than 12 months, gross unrealized loss	$ 9,416
Securities in continuous loss position, less than 12 months, number of securities	2
US States and Political Subdivisions Debt Securities [Member]
Securities in continuous loss position, less than 12 months, fair value	$ 968,740	$ 1,613,415
Securities in continuous loss position, less than 12 months, gross unrealized loss	$ 31,260	$ 136,585
Securities in continuous loss position, less than 12 months, number of securities	1	2
Corporate Debt Securities [Member]
Securities in continuous loss position, less than 12 months, fair value	$ 30,370,227	$ 55,039,213
Securities in continuous loss position, less than 12 months, gross unrealized loss	$ 753,570	$ 3,873,158
Securities in continuous loss position, less than 12 months, number of securities	27	52
Securities in continuous loss position, greater than 12 months, fair value	$ 2,997,784	$ 5,533,581
Securities in continuous loss position, greater than 12 months, gross unrealized loss	$ 199,957	$ 714,738
Securities in continuous loss position, greater than 12 months, number of securities	2	4
Foreign [Member]
Securities in continuous loss position, less than 12 months, fair value	$ 10,215,322	$ 24,154,510
Securities in continuous loss position, less than 12 months, gross unrealized loss	$ 283,355	$ 1,418,143
Securities in continuous loss position, less than 12 months, number of securities	11	20
Securities in continuous loss position, greater than 12 months, fair value	$ 197,700	$ 6,007,156
Securities in continuous loss position, greater than 12 months, gross unrealized loss	$ 8	$ 3,264,495
Securities in continuous loss position, greater than 12 months, number of securities	1	4
Commercial Mortgage Backed Securities [Member]
Securities in continuous loss position, less than 12 months, fair value		$ 1,447,694
Securities in continuous loss position, less than 12 months, gross unrealized loss		$ 15,592
Securities in continuous loss position, less than 12 months, number of securities		2
Residential Mortgage Backed Securities [Member]
Securities in continuous loss position, less than 12 months, fair value	$ 3,003,214	$ 3,320,890
Securities in continuous loss position, less than 12 months, gross unrealized loss	$ 72,741	$ 62,255
Securities in continuous loss position, less than 12 months, number of securities	2	2
Redeemable Preferred Stock [Member]
Securities in continuous loss position, less than 12 months, fair value	$ 17,488	$ 669,128
Securities in continuous loss position, less than 12 months, gross unrealized loss	$ 493	$ 42,787
Securities in continuous loss position, less than 12 months, number of securities	1	2
Securities in continuous loss position, greater than 12 months, fair value	$ 205,423
Securities in continuous loss position, greater than 12 months, gross unrealized loss	$ 24,659
Securities in continuous loss position, greater than 12 months, number of securities	1
Debt Securities [Member]
Securities in continuous loss position, fair value	$ 55,868,890	$ 97,785,587
Securities in continuous loss position, gross unrealized loss	$ 1,375,459	$ 9,527,753
Securities in continuous loss position, number of securities	48	88
Mutual Funds [Member]
Securities in continuous loss position, less than 12 months, fair value		$ 304,031
Securities in continuous loss position, less than 12 months, gross unrealized loss		$ 14,253
Securities in continuous loss position, less than 12 months, number of securities		1
Common Stock [Member]
Securities in continuous loss position, less than 12 months, fair value	$ 1,004,821	$ 2,449,672
Securities in continuous loss position, less than 12 months, gross unrealized loss	$ 136,117	$ 473,551
Securities in continuous loss position, less than 12 months, number of securities	6	15
Securities in continuous loss position, greater than 12 months, fair value	$ 873,083	$ 183,960
Securities in continuous loss position, greater than 12 months, gross unrealized loss	$ 198,903	$ 50,570
Securities in continuous loss position, greater than 12 months, number of securities	7	3
Equity Securities [Member]
Securities in continuous loss position, fair value	$ 1,877,904	$ 2,937,663
Securities in continuous loss position, gross unrealized loss	$ 335,020	$ 538,374
Securities in continuous loss position, number of securities	13	19

Note 2 - Investments - Net Unre

Note 2 - Investments - Net Unrealized Gains for Investments Classified as Available-for-sale (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Net unrealized appreciation on available-for sale securities	$ 16,827,146	$ 9,785,313
Adjustment to deferred acquisition costs	(461,084)	(249,401)
Deferred income taxes	(5,564,461)	(3,242,210)
Net unrealized appreciation on available-for sale securities	$ 10,801,601	$ 6,293,702

Note 2 - Investments - Fixed Ma

Note 2 - Investments - Fixed Maturity Securities by Contractual Maturity (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Total, amortized cost	$ 350,585,324	$ 399,525,617
Total, fair value	366,347,999	$ 409,146,807
All Except For State Guaranteed Receivables [Member]
Due in one year or less, amortized cost	11,282,653
Due in one year or less, fair value	11,454,020
Due after one year through five years, amortized cost	100,288,408
Due after one year through five years, fair value	106,474,899
Due after five years through ten years, amortized cost	131,988,499
Due after five years through ten years, fair value	135,072,291
Due after ten years, amortized cost	48,697,265
Due after ten years, fair value	53,377,415
Total, amortized cost	350,585,324
Total, fair value	366,347,999
All Except For State Guaranteed Receivables [Member] | Due at Multiple Maturity Dates [Member]
Securities without single maturity date, amortized cost	58,328,499
Securities without single maturity date, fair value	$ 59,969,374

Note 2 - Investments - Proceeds

Note 2 - Investments - Proceeds from Sales and Maturities of Investments in Available-for-sale (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Proceeds from sales and maturities	$ 81,300,412	$ 37,200,703
Gross realized gains	2,360,747	939,423
Gross realized losses	(734,298)	(203,856)
Other-than-temporary impairment loss	$ (118,267)	$ 0

Note 2 - Investments - Change i

Note 2 - Investments - Change in Unrealized Gains (Losses) and Realized Gains (Losses) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Other-than-temporary impairment loss		$ (118,267)	$ 0
Mortgage loans on real estate			75,915
Investments in Convertible Securities, Net Realized Gain (Loss) on Exchange		47,940	7,223
Debt Securities [Member]
Change in net unrealized investment gains (losses)		6,141,485	(16,900,027)
Available-for-sale Securities, Gross Realized Gain (Loss)	$ 880,055	1,460,321	91,141
Equity Securities [Member]
Change in net unrealized investment gains (losses)		900,348	(910,260)
Available-for-sale Securities, Gross Realized Gain (Loss)		$ 166,128	$ 644,426

Note 2 - Investments - Mortgage

Note 2 - Investments - Mortgage Loans by State (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Mortgage loans by state	$ 41,302,392	$ 33,174,131
FLORIDA
Mortgage loans by state	5,253,110	3,906,034
TEXAS
Mortgage loans by state	5,191,186	5,694,612
Illinois [Member]
Mortgage loans by state	4,787,454	6,046,408
California [Member]
Mortgage loans by state	3,591,584	3,366,434
Georgia [Member]
Mortgage loans by state	3,487,991	2,671,788
Missouri [Member]
Mortgage loans by state	3,107,289	1,342,845
OHIO
Mortgage loans by state	3,083,440	1,692,354
Kentucky [Member]
Mortgage loans by state	2,402,800	3,241,793
Arizona [Member]
Mortgage loans by state	1,490,538	774,060
NEW JERSEY
Mortgage loans by state	1,196,156	247,723
Colorado [Member]
Mortgage loans by state	1,190,873	222,364
Tennessee [Member]
Mortgage loans by state	1,048,452	895,607
Indiana [Member]
Mortgage loans by state	893,431	759,139
Virginia [Member]
Mortgage loans by state	800,635
North Carolina [Member]
Mortgage loans by state	757,004	353,275
Oregon [Member]
Mortgage loans by state	487,824
Pennsylvania [Member]
Mortgage loans by state	479,720	370,323
NEVADA
Mortgage loans by state	479,182	373,359
UTAH
Mortgage loans by state	343,533	77,939
WASHINGTON
Mortgage loans by state	231,939
WEST VIRGINIA
Mortgage loans by state	225,578	412,250
South Carolina [Member]
Mortgage loans by state	199,101	225,881
Massachusetts [Member]
Mortgage loans by state	169,681	205,469
Idaho [Member]
Mortgage loans by state	142,745	159,073
KANSAS
Mortgage loans by state	134,396	135,401
MICHIGAN
Mortgage loans by state	$ 126,750

Note 2 - Investments - State-gu

Note 2 - Investments - State-guaranteed Receivables by Contractual Maturity (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Total, amortized cost	$ 11,584,681	$ 7,692,959
State-guaranteed Receivables [Member]
Due in one year or less, amortized cost	1,094,070
Due in one year or less, fair value	1,106,879
Due after one year through five years, amortized cost	4,065,183
Due after one year through five years, fair value	4,418,206
Due after five years through ten years, amortized cost	4,334,493
Due after five years through ten years, fair value	5,210,810
Due after ten years, amortized cost	2,090,935
Due after ten years, fair value	3,202,929
Total, amortized cost	11,584,681
Total, fair value	$ 13,938,824

Note 2 - Investments - Amortize

Note 2 - Investments - Amortized Cost of State-guaranteed Receivables, by State (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
State-guaranteed receivables	$ 11,584,681	$ 7,692,959
New York [Member]
State-guaranteed receivables	3,446,349	3,496,115
Massachusetts [Member]
State-guaranteed receivables	3,126,011	1,991,601
Georgia [Member]
State-guaranteed receivables	2,012,845	1,432,022
WASHINGTON
State-guaranteed receivables	653,235
Indiana [Member]
State-guaranteed receivables	417,811
Pennsylvania [Member]
State-guaranteed receivables	318,019	294,968
TEXAS
State-guaranteed receivables	261,396	243,939
California [Member]
State-guaranteed receivables	171,590	180,143
OHIO
State-guaranteed receivables	$ 1,177,425	$ 54,171

Note 2 - Investments - Net Inve

Note 2 - Investments - Net Investment Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Gross investment income (loss)	$ 22,460,262	$ 22,269,298
Investment Expenses	1,052,030	1,031,985
Net investment income	21,408,232	21,237,313
Fixed Maturities [Member]
Gross investment income (loss)	18,135,421	18,296,411
Equity Securities [Member]
Gross investment income (loss)	316,238	295,368
Mortgages [Member]
Gross investment income (loss)	2,654,165	2,316,721
Policy Loans [Member]
Gross investment income (loss)	481,912	494,299
State-guaranteed Receivables [Member]
Gross investment income (loss)	661,309	545,120
Convertible Debt Securities [Member]
Gross investment income (loss)	(9,850)	102,342
Other Long-term Investments [Member]
Gross investment income (loss)	$ 221,067	$ 219,037

Note 3 - Fair Values of Finan41

Note 3 - Fair Values of Financial Instruments - Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Securities available-for-sale	$ 375,104,067	$ 416,763,596
Investments in convertible options	983,950	957,405
Fair Value, Measurements, Recurring [Member]
Investments in convertible options	983,950	957,405
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	22,233,619	24,015,752
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	39,525,248	41,205,439
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	210,980,549	235,176,138
Foreign [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	52,529,579	62,058,522
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale		144,009
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	6,916,071	6,963,242
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	33,306,997	38,914,577
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	855,936	669,128
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	366,347,999	409,146,807
U.S. Agencies [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	707,900	707,900
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	347,124	304,031
Common Stock [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	7,701,044	6,604,858
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	8,756,068	7,616,789
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Investments in convertible options
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | Foreign [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 1 [Member] | U.S. Agencies [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	707,900	707,900
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	347,124	304,031
Fair Value, Inputs, Level 1 [Member] | Common Stock [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	7,253,044	6,252,858
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	8,308,068	7,264,789
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Investments in convertible options	983,950	957,405
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	22,233,619	24,015,752
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	39,525,248	41,205,439
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	210,980,549	235,176,138
Fair Value, Inputs, Level 2 [Member] | Foreign [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	52,529,579	62,058,522
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale		144,009
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	6,916,071	6,963,242
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	33,306,997	38,914,577
Fair Value, Inputs, Level 2 [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	855,936	669,128
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	366,347,999	409,146,807
Fair Value, Inputs, Level 2 [Member] | U.S. Agencies [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 2 [Member] | Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 2 [Member] | Common Stock [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Investments in convertible options
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Foreign [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | U.S. Agencies [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale
Fair Value, Inputs, Level 3 [Member] | Common Stock [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	448,000	352,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Securities available-for-sale	$ 448,000	$ 352,000

Note 3 - Fair Values of Finan42

Note 3 - Fair Values of Financial Instruments - Changes in Fair Value of Level 3 Financial Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Beginning balance	$ 352,000	$ 384,000
Included in other comprehensive income (loss)	96,000	(32,000)
Ending balance	$ 448,000	$ 352,000

Note 3 - Fair Values of Finan43

Note 3 - Fair Values of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Reported Value Measurement [Member]
Assets:
State-guaranteed receivables	$ 11,584,681	$ 7,692,959
Other invested assets	1,951,830	2,379,451
Cash and cash equivalents	3,297,917	3,619,663
Accrued investment income	4,433,680	5,149,612
Cash value of company-owned life insurance	13,855,560	13,191,773
Liabilities:
Policyholder deposits (Investment-type contracts)	51,870,288	52,694,746
Policy claims	2,637,220	2,584,088
Obligations under capital leases	72,209	377,259
Notes payable	971,851	1,433,448
Reported Value Measurement [Member] | Commercial Mortgage [Member]
Assets:
Loans	10,819,996	12,419,443
Reported Value Measurement [Member] | Residential Mortgage [Member]
Assets:
Loans	30,482,396	20,754,688
Reported Value Measurement [Member] | Policy Loans [Member]
Assets:
Loans	6,336,277	6,702,911
Estimate of Fair Value Measurement [Member]
Assets:
State-guaranteed receivables	13,938,824	9,094,934
Other invested assets	1,951,830	2,379,451
Cash and cash equivalents	3,297,917	3,619,663
Accrued investment income	4,433,680	5,149,612
Cash value of company-owned life insurance	13,855,560	13,191,773
Liabilities:
Policyholder deposits (Investment-type contracts)	51,304,889	53,880,242
Policy claims	2,637,220	2,584,088
Obligations under capital leases	72,209	377,259
Notes payable	971,851	1,433,448
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
State-guaranteed receivables
Other invested assets
Cash and cash equivalents	3,297,917	3,619,663
Accrued investment income
Cash value of company-owned life insurance
Liabilities:
Policyholder deposits (Investment-type contracts)
Policy claims
Obligations under capital leases
Notes payable
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
State-guaranteed receivables	13,938,824	9,094,934
Other invested assets
Cash and cash equivalents
Accrued investment income
Cash value of company-owned life insurance
Liabilities:
Policyholder deposits (Investment-type contracts)
Policy claims
Obligations under capital leases
Notes payable
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
State-guaranteed receivables
Other invested assets	1,951,830	2,379,451
Cash and cash equivalents
Accrued investment income	4,433,680	5,149,612
Cash value of company-owned life insurance	13,855,560	13,191,773
Liabilities:
Policyholder deposits (Investment-type contracts)	51,304,889	53,880,242
Policy claims	2,637,220	2,584,088
Obligations under capital leases	72,209	377,259
Notes payable	971,851	1,433,448
Estimate of Fair Value Measurement [Member] | Commercial Mortgage [Member]
Assets:
Loans	11,084,097	12,895,965
Estimate of Fair Value Measurement [Member] | Commercial Mortgage [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Loans
Estimate of Fair Value Measurement [Member] | Commercial Mortgage [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Loans
Estimate of Fair Value Measurement [Member] | Commercial Mortgage [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Loans	11,084,097	12,895,965
Estimate of Fair Value Measurement [Member] | Residential Mortgage [Member]
Assets:
Loans	33,992,592	23,032,713
Estimate of Fair Value Measurement [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Loans
Estimate of Fair Value Measurement [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Loans
Estimate of Fair Value Measurement [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Loans	33,992,592	23,032,713
Estimate of Fair Value Measurement [Member] | Policy Loans [Member]
Assets:
Loans	6,336,277	6,702,911
Estimate of Fair Value Measurement [Member] | Policy Loans [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Loans
Estimate of Fair Value Measurement [Member] | Policy Loans [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Loans
Estimate of Fair Value Measurement [Member] | Policy Loans [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Loans	$ 6,336,277	$ 6,702,911

Note 4 - Federal Income Taxes44

Note 4 - Federal Income Taxes (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Unrecognized Tax Benefits	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 0
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member]
Open Tax Year	2,013
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member]
Open Tax Year	2,016

Note 4 - Federal Income Taxes -

Note 4 - Federal Income Taxes - Deferred Tax Liabilities and Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Deferred tax liabilities:
Policy acquisition costs	$ 2,427,869	$ 2,675,908
Net unrealized gain on available-for-sale securities	5,564,461	3,242,210
Due premiums	922,868	957,825
Other	768,852	695,201
Total deferred tax liabilities	9,684,050	7,571,144
Deferred tax assets:
Benefit reserves, net of reinsurance	2,626,693	3,137,466
Other policyholder funds	337,333	363,106
AMT credit carryforwards	656,087	565,828
Accrued pension liability	2,047,230	2,065,628
Deferred revenue on reinsurance ceded	486,760
Other-than-temporary impairments	40,211
Other	232,793	333,340
Total deferred tax assets	6,427,107	6,465,368
Net deferred tax liabilities	$ 3,256,943	$ 1,105,776

Note 4 - Federal Income Taxes46

Note 4 - Federal Income Taxes - Reconciliation of Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statutory federal income tax rate	34.00%	34.00%
Small life insurance company deduction	(17.20%)	(19.20%)
Dividends-received deduction	(0.90%)	(2.70%)
Defined contribution plan dividend	(0.70%)	(2.30%)
Nondeductible COLI expense	(5.20%)	(16.30%)
Nontaxable COLI life insurance proceeds		(7.70%)
Nondeductible travel & meals expense	0.60%	2.50%
True-up of provision to actual	0.10%	1.70%
Other	0.40%	(4.70%)
Effective income tax rate	11.10%	(14.70%)

Note 5 - Notes Payable (Details

Note 5 - Notes Payable (Details Textual) - USD ($)	Aug. 29, 2014	Nov. 05, 2012	Dec. 31, 2016	Dec. 31, 2015	Nov. 25, 2016	Mar. 31, 2015
Line of Credit Facility, Maximum Borrowing Capacity					$ 1,000,000
Proceeds from Notes Payable			$ 2,347,057	$ 2,802,545
Other Long-term Investments			1,951,830	2,379,451
Puritan Financial Companies Inc [Member]
Proceeds from Notes Payable		$ 2,000,000
Debt Instrument, Periodic Payment		$ 15,000
Debt Instrument Collateral Common Stock Shares		55,000
Payments to Acquire Loans Receivable		$ 2,000,000
Loan Receivable Basis Spread On Variable Rate		1.75%
Debt Instrument, Amendments, Withholding of Earned Commissions		15.00%
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	2,000,000
Other Long-term Investments			$ 893,915	$ 1,450,830
Puritan Financial Companies Inc [Member] | Minimum [Member]
Debt Instrument, Periodic Payment	$ 400,000
Operating Line Of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 150,000
At Need Funding Line Of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 1,500,000
Prime Rate [Member]
Debt Instrument, Interest Rate, Stated Percentage					3.50%
Prime Rate [Member] | Puritan Financial Companies Inc [Member]
Debt Instrument, Basis Spread on Variable Rate		0.25%
Prime Rate [Member] | Operating Line Of Credit [Member]
Debt Instrument, Interest Rate, Stated Percentage						3.25%
Prime Rate [Member] | At Need Funding Line Of Credit [Member]
Debt Instrument, Interest Rate, Stated Percentage						3.75%

Note 5 - Notes Payable - Notes

Note 5 - Notes Payable - Notes Payable Outstanding (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Line of Credit [Member]
Outstanding principal	$ 133,878	$ 59,484
Current interest rate	3.75%	3.50%
Maturity date	Mar. 24, 2017	Mar. 24, 2017
Interest expense	$ 7,343	$ 19,301
Interest paid	6,734	20,002
Notes Payable to Banks [Member]
Outstanding principal	$ 837,973	$ 1,373,964
Current interest rate	3.50%	3.25%
Maturity date	Nov. 25, 2019	Nov. 25, 2019
Interest expense	$ 44,101	$ 32,186
Interest paid	$ 48,961	$ 35,194

Note 6 - Employee Benefit Pla49

Note 6 - Employee Benefit Plans (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax	$ 8,041,983	$ 8,388,698
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions	2,734,274	2,852,157
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year	676,810
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year	$ 360,000
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4.00%
Paid To Pension Plan [Member]
Dividends	$ 6,510	$ 6,510

Note 6 - Employee Benefit Pla50

Note 6 - Employee Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Benefit obligation at beginning of year	$ 24,691,877	$ 24,975,342
Service cost
Interest cost	990,439	890,263
Actuarial (gain) loss	627,361	(5,930)
Benefits paid	(1,320,617)	(1,167,798)
Benefit obligation at end of year	24,989,060	24,691,877
Fair value of plan assets at beginning of year	18,616,501	19,833,900
Actual return on plan assets	1,338,912	(349,601)
Employer contributions	333,000	300,000
Benefits paid	(1,320,617)	(1,167,798)
Fair value of plan assets at end of year	18,967,796	18,616,501
Funded status			$ (6,021,264)	$ (6,075,376)
Unrecognized net actuarial loss			8,041,983	8,388,698
Net amount recognized as prepaid benefit cost			2,020,719	2,313,322
Accumulated benefit obligation	24,691,877	24,691,877	$ 24,989,060	$ 24,691,877
Components of net periodic benefit cost:
Service cost
Interest cost	990,439	890,263
Expected return on plan assets	(1,102,010)	(1,172,278)
Amortization of net (gain) loss	737,174	762,233
Net periodic benefit cost	$ 625,603	$ 480,218

Note 6 - Employee Benefit Pla51

Note 6 - Employee Benefit Plans - Weighted-Average Actuarial Assumptions (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Discount rate	3.95%	4.20%
Expected return on plan assets	6.25%	6.25%

Note 6 - Employee Benefit Pla52

Note 6 - Employee Benefit Plans - Fair Value of Plan Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Pooled separate accounts	$ 18,471,796	$ 18,029,051
Company common stock - 31,000 shares	$ 496,000	$ 587,450

Note 6 - Employee Benefit Pla53

Note 6 - Employee Benefit Plans - Fair Value of Plan Assets (Details) (Parentheticals) - shares	Dec. 31, 2016	Dec. 31, 2015
Company common stock -shares (in shares)	31,000	31,000

Note 6 - Employee Benefit Pla54

Note 6 - Employee Benefit Plans - Allocation of Plan Assets (Details)	Dec. 31, 2016	Dec. 31, 2015
Debt Securities [Member]
Defined benefit plan, asset allocations	64.00%	68.00%
Equity Securities [Member]
Defined benefit plan, asset allocations	33.00%	29.00%
Company Common Stock [Member]
Defined benefit plan, asset allocations	3.00%	3.00%

Note 6 - Employee Benefit Pla55

Note 6 - Employee Benefit Plans - Estimated Future Benefit Payments (Details)	Dec. 31, 2016USD ($)
2,017	$ 2,550,000
2,018	1,450,000
2,019	1,440,000
2,020	1,780,000
2,021	1,790,000
2022 - 2026	$ 8,430,000

Note 6 - Employee Benefit Pla56

Note 6 - Employee Benefit Plans - Defined Compensation Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Old 401k Plan [Member]
Shares held (in shares)	265,294	276,590
Fair value	$ 4,244,701	$ 5,241,377
Dividends on Company stock	58,084	61,838
Retirement Plan [Member]
Mutual funds - fair value	3,671,794	2,979,588
Employer contributions	$ 457,815	$ 453,576

Note 6 - Employee Benefit Pla57

Note 6 - Employee Benefit Plans - Deferred Compensation Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Shares held (in shares)	30,100	27,350
Fair value	$ 481,608	$ 518,292
Mutual funds - fair value	157,436	80,666
Cash and cash equivalents	6,471	6,227
Employer contributions	55,970	50,263
Dividends on Company stock	$ 5,744	$ 4,340

Note 7 - Stockholders' Equity58

Note 7 - Stockholders' Equity and Dividend Restrictions (Details Textual)	Dec. 31, 2016USD ($)
Dividends Percent Of Statutory Surplus	10.00%
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments	$ 1,819,285

Note 8 - Statutory Accounting59

Note 8 - Statutory Accounting Practices (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 25,958,039	$ 21,202,435
Statutory Accounting Practices, Statutory Net Income Amount	$ 2,073,521	$ 1,267,672

Note 9 - Segment Data (Details

Note 9 - Segment Data (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Number of Operating Segments	4
Proceeds from Life Insurance Policies	$ 0	$ 203,451

Note 9 - Segment Data - Segment

Note 9 - Segment Data - Segments by Operating Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Revenue	$ 65,560,838	$ 68,176,711
Pre-tax income (loss) from operations	2,992,134	904,106
Assets	579,357,948	570,038,084
Depreciation and amortization	6,395,000	7,703,000
Preneed and Burial Products [Member]
Revenue	52,245,000	48,894,000
Pre-tax income (loss) from operations	1,982,000	(496,000)
Assets	376,687,000	374,793,000
Depreciation and amortization	5,226,000	5,641,000
Traditional and Universal Life Products [Member]
Revenue	11,056,000	16,746,000
Pre-tax income (loss) from operations	504,000	742,000
Assets	123,000,000	123,823,000
Depreciation and amortization	752,000	1,538,000
Administrative and Financial Services [Member]
Revenue	1,469,000	1,357,000
Pre-tax income (loss) from operations	393,000	274,000
Assets	9,687,000	9,706,000
Depreciation and amortization	161,000	214,000
Corporate and Other [Member]
Revenue	791,000	1,180,000
Pre-tax income (loss) from operations	113,000	384,000
Assets	69,984,000	61,716,000
Depreciation and amortization	$ 256,000	$ 310,000

Note 10 - Reinsurance (Details

Note 10 - Reinsurance (Details Textual) - USD ($)	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Deferred Policy Acquisition Costs				$ 15,712,181	$ 17,237,522
Reinsurance Contract Life				20 years
Deferred Revenue	$ 1,471,858	$ 1,471,858	$ 1,471,858	$ 1,431,647
Deferred Revenue, Revenue Recognized				40,211
Reinsurance Recoverables, Including Reinsurance Premium Paid				$ 98,444,173	56,332,692
Ownership of Direct New Business Produced				100.00%
Assumed Premiums Earned				$ 465,962	781,863
Puritan Financial Companies Inc [Member]
Reinsurance Recoverables, Including Reinsurance Premium Paid				$ 17,967,000	18,261,000
Reinsurance Retention Policy, Reinsured Risk, Percentage				75.00%
Assumed Premiums Earned				$ 447,000	753,000
Assumed Benefit Reserves				10,933,000	11,267,000
Ceded [Member]
Reinsurance Recoverables, Including Reinsurance Premium Paid				1,441,190	1,396,448
Life And Annuity [Member]
Reinsurance Recoverables, Including Reinsurance Premium Paid				$ 17,466,000	18,522,000
Reinsurance Percent Of Risk Ceded				85.00%
Credit Life And Accident Insurance [Member]
Reinsurance Recoverables, Including Reinsurance Premium Paid				$ 8,098,452	$ 8,117,461
Reinsurance Percent Of Risk Ceded				100.00%	100.00%
Reinsurance Fee Income				$ 228,369	$ 223,994
Debt Securities [Member]
Available-for-sale Securities, Gross Realized Gain (Loss)		880,055		1,460,321	$ 91,141
Southland National Insurance Corporation [Member] | Other Liabilities [Member]
Reinsurance Payable	41,921,155	41,921,155	$ 41,921,155
Southland National Insurance Corporation [Member]
Life Insurance Coinsured Ratio			100.00%
Reinsurance Reserve Ceded Under Agreement			$ 44,023,892
Deferred Policy Acquisition Costs	$ 329,414	$ 329,414	$ 329,414
Reinsurance Contract Life	20 years
Reinsurance Recoverables, Including Reinsurance Premium Paid				43,179,000
Southland National Insurance Corporation [Member] | Ceded Commision [Member]
Deferred Revenue				1,471,858
Deferred Revenue, Revenue Recognized				$ 40,211

Note 10 - Reinsurance - Reinsur

Note 10 - Reinsurance - Reinsurance Ceded and Assumed (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Premiums ceded	$ 10,803,281	$ 12,511,080
Premiums assumed	465,962	781,863
Commission and expense allowances	4,171,811	4,457,058
Benefit recoveries	$ 8,736,272	$ 8,414,608

Note 11 - Other Comprehensive64

Note 11 - Other Comprehensive Income - Components of Other Comprehensive Income (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Unrealized holding gains (losses) arising during period, pretax		$ 8,550,015	$ (17,074,720)
Unrealized holding gains (losses) arising during period, tax		2,907,005	(5,805,405)
Unrealized holding gains (losses) arising during period, net of tax		5,643,010	(11,269,315)
Reclassification adjustment for gains included in income, pretax	[1]	(1,508,182)	(735,567)
Reclassification adjustment for gains included in income, tax	[2]	(512,782)	(250,093)
Reclassification adjustment for gains included in income, net of tax		(995,400)	(485,474)
Adjustment for effect of deferred acquisition costs, pretax		(211,683)	462,249
Adjustment for effect of deferred acquisition costs, tax		(71,972)	157,165
Adjustment for effect of deferred acquisition costs, net of tax		(139,711)	305,084
Net unrealized gains (losses) on investments, pretax		6,830,150	(17,348,038)
Net unrealized gains (losses) on investments, tax		2,322,251	(5,898,333)
Net unrealized gains (losses) on investments, net of tax		4,507,899	(11,449,705)
Actuarial net loss on pension plan, pretax		(390,459)	(1,515,949)
Actuarial net loss on pension plan, tax		(132,756)	(515,422)
Actuarial net loss on pension plan, net of tax		(257,703)	(1,000,527)
Amortization of actuarial net loss in net periodic pension cost, pretax	[3]	737,174	762,233
Amortization of actuarial net loss in net periodic pension cost, tax	[2]	250,639	259,159
Amortization of actuarial net loss in net periodic pension cost, net of tax		486,535	503,074
Net change in defined benefit pension plan, pretax		346,715	(753,716)
Net change in defined benefit pension plan, tax		117,883	(256,263)
Net change in defined benefit pension plan, net of tax		228,832	(497,453)
Total other comprehensive income, pretax		7,176,865	(18,101,754)
Total other comprehensive income, tax		2,440,134	(6,154,596)
Total other comprehensive income, net of tax		$ 4,736,731	$ (11,947,158)
[1]	These items appear within net realized gains on investments in the consolidated income statements.
[2]	These items appear within federal income taxes in the consolidated income statements.
[3]	These items are included in the computation of net periodic benefit cost (see Note 6).

Note 11 - Other Comprehensive65

Note 11 - Other Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
BALANCE	$ 49,251,002	$ 60,536,486
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES	4,736,731	(11,947,158)
BALANCE	56,184,945	49,251,002
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
BALANCE	6,293,702	17,743,407
Other comprehensive income (loss) before reclassifications	5,503,299	(10,964,231)
Amounts reclassified from accumulated other comprehensive income	(995,400)	(485,474)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES	4,507,899	(11,449,705)
BALANCE	10,801,601	6,293,702
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
BALANCE	(5,536,541)	(5,039,088)
Other comprehensive income (loss) before reclassifications	(257,703)	(1,000,527)
Amounts reclassified from accumulated other comprehensive income	486,535	503,074
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES	228,832	(497,453)
BALANCE	(5,307,709)	(5,536,541)
AOCI Attributable to Parent [Member]
BALANCE	757,161	12,704,319
Other comprehensive income (loss) before reclassifications	5,245,596	(11,964,758)
Amounts reclassified from accumulated other comprehensive income	(508,865)	17,600
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES	4,736,731	(11,947,158)
BALANCE	$ 5,493,892	$ 757,161

Note 11 - Other Comprehensive66

Note 11 - Other Comprehensive Income - Amounts Reclassified from AOCI to Income (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Realized gains on securities (a)	[1]	$ 1,508,182	$ 735,567
Income tax expense (c)	[2]	(512,782)	(250,093)
Net of tax		995,400	485,474
Amortization of actuarial net loss (b)	[3]	(737,174)	(762,233)
Income tax benefit (c)	[2]	250,639	259,159
Net of tax		(486,535)	(503,074)
Total reclassifications for the period		$ 508,865	$ (17,600)
[1]	These items appear within net realized gains on investments in the consolidated income statements.
[2]	These items appear within federal income taxes in the consolidated income statements.
[3]	These items are included in the computation of net periodic benefit cost (see Note 6).

Note 12 - Contingent Liabilit67

Note 12 - Contingent Liabilities (Details Textual)	12 Months Ended
	Dec. 31, 2016
Guaranty Fund Assessments, Tax Credit Period	5 years