Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments (Tables)

Summary Of Investment Income And Net Realized Gains

	December 31
	2021			2020
Investment income:
Fixed maturities	$	1,920,624		$	2,068,592
Equity securities		90,596			28,727
Short-term investments and cash equivalents		2,660			24,603
Gross investment income		2,013,880			2,121,922
Less investment expenses		(80,887	)		(133,679	)
Net investment income		1,932,993			1,988,243
Net realized investment gains		259,912			97,771
Net realized gain on sale of real estate		3,693,858			-
Net unrealized investment gains on equity securities		400,862			198,266
Net investment income, realized investment gains, realized gains on real estate sale and unrealized investment gains	$	6,287,625		$	2,284,280

Investments By Contractual Maturity

Maturities by Year at December 31, 2021	Amortized Cost		Fair Value		Weighted Average Yield
Due in one year	$	15,758,755	$	15,875,423		2.21	%
Due after one year through five years		19,349,200		19,681,599		1.80	%
Due after five years through ten years		19,335,034		19,832,093		2.39	%
Due after ten years and beyond		17,075,416		17,324,290		2.35	%
Total	$	71,518,405	$	72,713,405		2.18	%

Maturities by Year at December 31, 2020	Amortized Cost		Fair Value		Weighted Average Yield
Due in one year	$	11,064,202	$	11,169,232		2.57	%
Due after one year through five years		30,090,910		31,260,694		2.59	%
Due after five years through ten years		18,476,051		19,806,444		2.51	%
Due after ten years and beyond		21,238,117		21,971,324		2.63	%
Total	$	80,869,280	$	84,207,694		2.58	%

Investments By Amortized Cost And Estimated Fair Value

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
December 31, 2021
Available-for-sale fixed maturities:
U.S. Treasury securities	$	6,278,764	$	67,516	$	(36,475	)	$	6,309,805
Corporate securities		44,370,193		1,076,288		(196,508	)		45,249,973
Agency mortgage-backed securities		20,569,448		352,466		(68,287	)		20,853,627
Held-to-maturity fixed maturities:
Certificates of deposit		300,000		-		-			300,000
Total fixed maturities	$	71,518,405	$	1,496,270	$	(301,270	)	$	72,713,405
December 31, 2020
Available-for-sale fixed maturities:
U.S. Treasury securities	$	10,596,808	$	235,373	$	-		$	10,832,181
Corporate securities		44,159,926		2,347,826		(55,847	)		46,451,905
Agency mortgage-backed securities		25,314,546		833,336		(22,274	)		26,125,608
Held-to-maturity fixed maturities:
Certificates of deposit		798,000		-		-			798,000
Total fixed maturities	$	80,869,280	$	3,416,535	$	(78,121	)	$	84,207,694

Summary of unrealized gains (losses) on investments

	Year ended December 31
	2021			2020
Gross unrealized gains of fixed maturities	$	1,496,270		$	3,416,535
Gross unrealized losses of fixed maturities		(301,270	)		(78,121	)
Net unrealized gains on investments		1,195,000			3,338,414
Deferred federal tax expense		(250,950	)		(701,067	)
Net unrealized gains, net of deferred income taxes	$	944,050		$	2,637,347

Components Of Investments In Unrealized Loss Position For Continuous Period Of Time

	Less than 12 Months							12 Months or Longer
	Estimated Fair Value		Gross Unrealized Losses			Number of Securities		Estimated Fair Value		Gross Unrealized Losses			Number of Securities
December 31, 2021
U.S. Treasury securities	$	481,875	$	(15,785	)		1	$	476,016	$	(20,690	)		1
Corporate securities		13,152,240		(128,502	)		15		1,179,235		(68,006	)		1
Agency mortgage-backed securities		5,086,187		(43,019	)		8		471,479		(25,268	)		1
Total debt securities		18,720,302		(187,306	)		24		2,126,730		(113,964	)		3
Equity securities		665,100		(55,156	)		18		76,454		(4,703	)		3
Total	$	19,385,402	$	(242,462	)		42	$	2,203,184	$	(118,667	)		6

	Less than 12 Months							12 Months or Longer
	Estimated Fair Value		Gross Unrealized Losses			Number of Securities		Estimated Fair Value		Gross Unrealized Losses		Number of Securities
December 31, 2020
U.S. Treasury securities	$	-	$	-			-	$	-	$	-		-
Corporate securities		2,101,986		(55,847	)		2		-		-		-
Agency mortgage-backed securities		3,223,329		(22,274	)		12		-		-		-
Total debt securities		5,325,315		(78,121	)		14		-		-		-
Equity securities		723,346		(37,357	)		25		-		-		-
Total	$	6,048,661	$	(115,478	)		39	$	-	$	-		-

Fixed Maturities Sold And Called

	December 31			December 31
	2021			2020
Fixed maturities securities sold
Number of securities sold		3			15
Amortized cost of sold securities	$	2,194,103		$	5,529,470
Realized gains on sales	$	710		$	52,053
Fixed maturities securities called
Number of securities called		10			4
Amortized cost of called securities	$	7,167,178		$	2,449,503
Realized (losses) gains on calls	$	(17,758	)	$	497

Summary Of Equity Investments

	December 31		December 31
	2021		2020
Cost	$	3,532,026	$	2,548,440
Unrealized gain		599,127		198,266
Fair market value of equity securities	$	4,131,153	$	2,746,706

Summary Of State Held Deposits

	Year ended December 31
	2021		2020
Certificates of deposit	$	300,000	$	200,000
Short-term investments		200,000		200,000
Total state held deposits	$	500,000	$	400,000

Summary Of Short Term Investments

	Year ended December 31
	2021		2020
Short term bonds		954,750		-
Certificates of deposit		200,000		200,000
Total short-term investments	$	1,154,750	$	200,000