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Investments (Tables)
 12 Months Ended
Dec. 31, 2017
Investments [Abstract]  
Available for Sale Securities
The following tables provide a summary of fixed maturities available for sale and equity securities by original or amortized cost and estimated fair value:

December 31, 2017
 
Original or Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
  
Estimated
Fair
Value
 
             
Investments available for sale:
            
Fixed maturities
            
U.S. Government and govt. agencies and authorities
 
$
2,679,325
  
$
33,802
  
$
(73,530
)
 
$
2,639,597
 
U.S. special revenue and assessments
  
9,012,232
   
620,789
   
-
   
9,633,021
 
All other corporate bonds
  
148,220,954
   
18,359,816
   
(298,163
)
  
166,282,607
 
   
159,912,511
   
19,014,407
   
(371,693
)
  
178,555,225
 
Equity securities
  
35,712,633
   
23,648,201
   
(512,343
)
  
58,848,491
 
Total
 
$
195,625,144
  
$
42,662,608
  
$
(884,036
)
 
$
237,403,716
 

December 31, 2016
 
Original or Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
  
Estimated
Fair
Value
 
             
Investments available for sale:
            
Fixed maturities
            
U.S. Government and govt. agencies and authorities
 
$
9,058,210
  
$
74,581
  
$
(96,981
)
 
$
9,035,810
 
U.S. special revenue and assessments
  
10,145,531
   
1,002,789
   
(14,043
)
  
11,134,277
 
All other corporate bonds
  
151,392,119
   
17,234,691
   
(1,557,179
)
  
167,069,631
 
   
170,595,860
   
18,312,061
   
(1,668,203
)
  
187,239,718
 
Equity securities
  
37,014,712
   
15,214,862
   
(522,471
)
  
51,707,103
 
Total
 
$
207,610,572
  
$
33,526,923
  
$
(2,190,674
)
 
$
238,946,821
 
Debt Securities by Contractual Maturity
The following table provides a summary of fixed maturities by contractual maturity as of  December 31, 2017. Actual maturities could differ from contractual maturities due to call or prepayment provisions:

Fixed Maturities Available for Sale
December 31, 2017
 
Amortized
Cost
  
Estimated
Fair Value
 
       
Due in one year or less
 
$
1,217,352
  
$
1,250,610
 
Due after one year through five years
  
31,340,053
   
41,789,869
 
Due after five years through ten years
  
37,234,486
   
38,512,732
 
Due after ten years
  
90,120,620
   
97,002,014
 
Total
 
$
159,912,511
  
$
178,555,225
 
Fair Value of Investments with Sustained Gross Unrealized Losses
The fair value of investments with sustained gross unrealized losses at December 31, 2017 and 2016 are as follows:

December 31, 2017
Less than 12 months
 
12 months or longer
 
Total
 
                
 
Fair value
  
Unrealized losses
 
Fair value
  
Unrealized losses
 
Fair value
  
Unrealized losses
 
U.S. Government and govt. agencies and authorities
 
$
-
   
-
  
$
1,604,987
   
(73,530
)
 
$
1,604,987
   
(73,530
)
U.S. special revenue and assessments
  
-
   
-
   
-
   
-
   
-
   
-
 
All other corporate bonds
  
9,732,635
   
(91,757
)
  
11,164,317
   
(206,406
)
  
20,896,952
   
(298,163
)
Total fixed maturities
 
$
9,732,635
   
(91,757
)
 
$
12,769,304
   
(279,936
)
 
$
22,501,939
   
(371,693
)
Equity securities
 
$
4,130,260
   
(270,774
)
 
$
1,526,868
   
(241,569
)
 
$
5,657,128
   
(512,343
)

December 31, 2016
Less than 12 months
 
12 months or longer
 
Total
 
                
 
Fair value
  
Unrealized losses
 
Fair value
  
Unrealized losses
 
Fair value
  
Unrealized losses
 
U.S. Government and govt. agencies and authorities
 
$
6,578,248
   
(96,981
)
 
$
-
   
-
  
$
6,578,248
   
(96,981
)
U.S. special revenue and assessments
  
974,250
   
(14,043
)
  
-
   
-
   
974,250
   
(14,043
)
All other corporate bonds
  
50,161,487
   
(1,408,828
)
  
4,023,510
   
(148,351
)
  
54,184,997
   
(1,557,179
)
Total fixed maturities
 
$
57,713,985
   
(1,519,852
)
 
$
4,023,510
   
(148,351
)
 
$
61,737,495
   
(1,668,203
)
Equity securities
 
$
4,703,033
   
(522,471
)
 
$
-
   
-
  
$
4,703,033
   
(522,471
)
Securities in Continuous Unrealized Loss Position
The following table provides additional information regarding the number of securities that were in an unrealized loss position for greater than or less than twelve months:

 
Less than 12 months
 
12 months or longer
 
Total
As of December 31, 2017
     
Fixed maturities
6
 
6
 
12
Equity securities
2
 
2
 
4
As of December 31, 2016
     
Fixed maturities
25
 
3
 
28
Equity securities
3
 
-
 
3
Trading Revenue Charged to Investment Income from Trading Securities
The following table reflects trading securities revenue charged to net investment income for the periods ended December 31:

 
2017
 
2016
 
     
Net unrealized gains (losses)
 
$
(111,531
)
 
$
31,259
 
Net realized gains (losses)
  
110,470
   
-
 
Net unrealized and realized gains (losses)
 
$
(1,061
)
 
$
31,259
 
Loan Payment Performance Since Inception
During 2017 and 2016, the maximum and minimum lending rates for mortgage loans were:

 
2017
 
2016
 
Maximum
rate
 
Minimum
rate
 
Maximum
rate
 
Minimum
rate
        
Farm Loans
5.00 %
 
5.00 %
 
5.00 %
 
5.00 %
Commercial Loans
7.50 %
 
4.00 %
 
8.00 %
 
4.00 %
Residential Loans
8.00 %
 
4.00 %
 
8.00 %
 
3.94 %
Discounted Mortgage Holdings
The following table summarizes the number of loans held in the discounted mortgage loan portfolio and the carrying value of the loans:

December 31, 2017
Payment Frequency
 
Number of Loans
  
Carrying
Value
 
       
No payments received
  
8
  
$
-
 
One-time payment received
  
1
   
-
 
Irregular payments received
  
2
   
-
 
Periodic payments received
  
5
   
2,003,536
 
Total
  
16
  
$
2,003,536
 

December 31, 2016
Payment Frequency
 
Number of Loans
  
Carrying
Value
 
       
No payments received
  
8
  
$
-
 
One-time payment received
  
1
   
-
 
Irregular payments received
  
2
   
20,834
 
Periodic payments received
  
5
   
2,168,062
 
Total
  
16
  
$
2,188,896
 

The following table summarizes the mortgage loan holdings of the Company for the periods ended December 31:

  
2017
  
2016
 
       
In good standing
 
$
15,310,941
  
$
16,388,477
 
Overdue interest over 90 days
  
-
   
20,834
 
Restructured
  
-
   
60,827
 
In process of foreclosure
  
2,003,536
   
2,107,234
 
Total mortgage loans
 
$
17,314,477
  
$
18,577,372
 
Total foreclosed loans during the year
 
$
-
  
$
735,000
 
Schedule of Net Investment Income
Analysis of Investment Operations

The following table reflects the Company's net investment income for the periods ended December 31:

  
2017
  
2016
 
       
Fixed maturities
 
$
8,685,698
  
$
9,217,413
 
Equity securities
  
1,213,922
   
1,393,816
 
Trading securities
  
(1,061
)
  
31,259
 
Mortgage loans
  
1,191,865
   
1,814,499
 
Real estate
  
1,990,844
   
1,862,400
 
Notes receivable
  
1,322,675
   
1,458,878
 
Policy loans
  
664,116
   
618,775
 
Cash and cash equivalents
  
23,445
   
14,583
 
Short-term
  
1,263
   
7,877
 
Total consolidated investment income
  
15,092,767
   
16,419,500
 
Investment expenses
  
(3,391,769
)
  
(3,474,952
)
Consolidated net investment income
 
$
11,700,998
  
$
12,944,548
 
Net Realized Investment Gains and Losses
The following table reflects the Company's net realized investments gains and losses for the periods ended December 31:

2017
 
Gross
Realized
Gains
  
Gross
Realized
(Losses)
  
Net
Realized
Gains (Losses)
 
          
Fixed maturities
 
$
3,950,014
  
$
(72,560
)
 
$
3,877,454
 
Real estate
  
3,622,519
   
(522,965
)
  
3,099,554
 
Common stock
  
2,902,278
   
-
   
2,902,278
 
Real estate – OTTI
  
-
   
(690,000
)
  
(690,000
)
Mortgage loans - OTTI
  
-
   
(72,161
)
  
(72,161
)
Total realized gains (losses)
 
$
10,474,811
  
$
(1,357,686
)
 
$
9,117,125
 

2016
 
Gross
Realized
Gains
  
Gross
Realized
(Losses)
  
Net
Realized
Gains (Losses)
 
          
Fixed maturities
 
$
1,449,956
  
$
(89,721
)
 
$
1,360,235
 
Real estate
  
4,942,675
   
(8,109
)
  
4,934,566
 
Common stock
  
1,615,446
   
(32,835
)
  
1,582,611
 
Notes receivable – OTTI
  
-
   
(465,754
)
  
(465,754
)
Total realized gains (losses)
 
$
8,008,077
  
$
(596,419
)
 
$
7,411,658
 
Other-than-Temporary Impairments
Based on Management's review of the investment portfolio, the Company recorded the following losses for other-than-temporary impairments in the Consolidated Statements of Operations for the periods ended December 31:

  
2017
  
2016
 
       
Other than temporary impairments:
      
Real estate
 
$
690,000
  
$
-
 
Notes Receivable
  
-
   
465,754
 
   Mortgage loans
  
72,161
   
-
 
Total other than temporary impairments
 
$
762,161
  
$
465,754