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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 8,480,938 $ 16,023,721
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization (accretion) of investments (6,865) 27,843
Other-than-temporary impairments (0) 411,584
Realized investment gains (losses), net (4,859,258) (4,432,507)
Change in fair value of equity securities (7,364,291) (20,375,015)
Unrealized trading (gains) losses included in income 0 (950)
Realized trading (gains) losses included in income 13,283 (18,304)
Amortization of cost of insurance acquired 344,174 357,845
Depreciation and depletion 918,168 1,260,915
Stock-based compensation 486,797 170,538
Charges for mortality and administration of universal life and annuity products (2,995,235) (3,216,269)
Interest credited to account balances 1,891,086 1,970,895
Change in accrued investment income (13,861) 14,833
Change in reinsurance receivables 832,213 246,433
Change in policy liabilities and accruals (2,016,166) (2,293,954)
Change in income taxes receivable (payable) 66,735 (1,071,762)
Change in other assets and liabilities, net 2,052,502 4,632,604
Net cash used in operating activities (2,169,780) (6,291,550)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 7,628,136 14,542,087
Equity securities 2,806,561 5,161,155
Trading securities 17,983 241
Mortgage loans 961,672 7,569,346
Real estate 8,794,081 4,350,324
Notes receivable 3,921,082 581,329
Policy loans 591,084 559,398
Total proceeds from investments sold and matured 24,720,599 32,763,880
Cost of investments acquired:    
Fixed maturities available for sale (1,112,505) (20,000)
Equity securities (6,387,281) (24,990,946)
Trading securities (32,382) (358)
Mortgage loans (1,560,291) (747,941)
Real estate (3,271,775) (1,402,593)
Notes receivable (3,910,657) (6,000,000)
Policy loans (523,039) (452,004)
Total cost of investments acquired (16,797,930) (33,613,842)
Net cash provided by (used in) investing activities 7,922,669 (849,962)
Cash flows from financing activities:    
Policyholder contract deposits 2,444,662 2,343,191
Policyholder contract withdrawals (2,522,908) (3,007,581)
Proceeds from notes payable/line of credit 9,500,000 0
Payments of principal on notes payable/line of credit (26,500,000) 0
Purchase of treasury stock (413,331) (238,971)
Non controlling contributions (distributions) of consolidated subsidiary 600 0
Net cash used in financing activities (17,490,977) (903,361)
Net increase (decrease) in cash and cash equivalents (11,738,088) (8,044,873)
Cash and cash equivalents at beginning of period 30,787,278 39,025,754
Cash and cash equivalents at end of period $ 19,049,190 $ 30,980,881