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Investments (Tables)
 3 Months Ended
Mar. 31, 2019
Investments [Abstract]  
Available for Sale Securities
Investments in available for sale securities are summarized as follows:

March 31, 2019
 
Original or Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
Investments available for sale:
            
Fixed maturities
            
U.S. Government and govt. agencies and authorities
 
$
25,652,896
  
$
221,161
  
$
(98,738
)
 
$
25,775,319
 
U.S. special revenue and assessments
  
16,350,071
   
545,717
   
0
   
16,895,788
 
All other corporate bonds
  
116,809,266
   
5,163,923
   
(737,633
)
  
121,235,556
 
  
$
158,812,233
  
$
5,930,801
  
$
(836,371
)
 
$
163,906,663
 

December 31, 2018
 
Original or Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
Investments available for sale:
            
Fixed maturities
            
U.S. Government and govt. agencies and authorities
 
$
25,649,410
  
$
149,006
  
$
(138,222
)
 
$
25,660,194
 
U.S. special revenue and assessments
  
16,350,486
   
334,300
   
(4,406
)
  
16,680,380
 
All other corporate bonds
  
118,895,973
   
2,569,287
   
(2,845,050
)
  
118,620,210
 
  
$
160,895,869
  
$
3,052,593
  
$
(2,987,678
)
 
$
160,960,784
 
Debt Securities by Contractual Maturity
The amortized cost and estimated market value of debt securities at March 31, 2019, by contractual maturity, is shown below.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

Fixed Maturities Available for Sale
March 31, 2019
 
Amortized Cost
  
Fair Value
 
Due in one year or less
 
$
6,498,983
  
$
6,525,131
 
Due after one year through five years
  
51,055,408
   
53,028,854
 
Due after five years through ten years
  
50,690,937
   
53,501,649
 
Due after ten years
  
50,566,905
   
50,851,029
 
Total
 
$
158,812,233
  
$
163,906,663
 
Fair Value of Investments with Sustained Gross Unrealized Losses
The fair value of investments with sustained gross unrealized losses at March 31, 2019 and December 31, 2018 are as follows:

March 31, 2019
 
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
 
$
-
   
-
   
5,578,536
   
(98,738
)
  
5,578,536
  
$
(98,738
)
All other corporate bonds
  
3,555,300
   
(6,923
)
  
26,553,550
   
(730,710
)
  
30,108,850
   
(737,633
)
Total fixed maturities
 
$
3,555,300
   
(6,923
)
  
32,132,086
   
(829,448
)
  
35,687,386
  
$
(836,371
)
                         

December 31, 2018
 
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
 
$
6,429,700
   
(49,904
)
  
1,592,679
   
(88,318
)
  
8,022,379
  
$
(138,222
)
U.S. special revenue and assessments
  
4,023,920
   
(4,406
)
  
-
   
-
   
4,023,920
   
(4,406
)
All other corporate bonds
  
49,270,729
   
(2,033,507
)
  
15,337,739
   
(811,543
)
  
64,608,468
   
(2,845,050
)
Total fixed maturities
 
$
59,724,349
   
(2,087,817
)
  
16,930,418
   
(899,861
)
  
76,654,767
  
$
(2,987,678
)
                         
Securities in Continuous Unrealized Loss Position
Additional information regarding investments in an unrealized loss position is as follows:

 
Less than 12 months
 
12 months or longer
 
Total
As of March 31, 2019
     
Fixed maturities
2
 
14
 
16
As of December 31, 2018
     
Fixed maturities
30
 
10
 
40
Net Investment Gains (Losses) and Change in Net Unrealized Gains on AFS Investments
The following table presents net investment gains (losses) and the change in net unrealized gains on available-for-sale investments. 

  
Three Months Ended
 
  
March 31,
 
  
2019
  
2018
 
Realized gains on available-for-sale investments:
      
Sales of fixed maturities
 
$
15,055
  
$
-
 
Sales of equity securities
  
-
   
-
 
Sales of real estate
  
1,098,643
   
-
 
Other
  
-
   
534,242
 
Total realized gains
  
1,113,698
   
534,242
 
Realized losses on available-for-sale investments:
        
Sales of fixed maturities
  
-
   
-
 
Sales of equity securities
  
-
   
-
 
Sales of real estate
  
-
   
-
 
Other-than-temporary impairments
  
-
   
-
 
Other
  
-
   
-
 
Total realized losses
  
-
   
-
 
Net realized investment gains (losses)
  
1,113,698
   
534,242
 
Change in fair value of equity securities:
        
Realized gains (losses) on equity securities sold during the period
  
-
   
-
 
Change in fair value of equity securities held at the end of the period
  
14,787,631
   
4,129,236
 
Change in fair value of equity securities
  
14,787,631
   
4,129,236
 
Net investment gains (losses)
 
$
15,901,329
  
$
4,663,478
 
Change in net unrealized gains (losses) on available-for-sale investments included in other comprehensive income:
        
Fixed maturities
 
$
4,934,851
  
$
(4,285,303
)
Equity securities
  
-
   
-
 
Net increase (decrease)
 
$
4,934,851
  
$
(4,285,303
)
Maximum and Minimum Lending Rates for Mortgage Loan
During 2019 and 2018, the maximum and minimum lending rates for mortgage loans were:

 
2019
 
2018
 
Maximum rate
 
Minimum rate
 
Maximum rate
 
Minimum rate
Farm Loans
5.00%
 
5.00%
 
5.00%
 
5.00%
Commercial Loans
7.50%
 
4.00%
 
7.50%
 
4.00%
Residential Loans
8.00%
 
8.00%
 
8.00%
 
8.00%
Mortgage Loan Holdings
The following table summarizes the mortgage loan holdings of the Company for the periods ended:

  
March 31, 2019
  
December 31, 2018
 
In good standing
 
$
8,829,640
  
$
7,169,272
 
Overdue interest over 90 days
  
1,873,913
   
1,899,839
 
Total mortgage loans
 
$
10,703,553
  
$
9,069,111