| Schedule of Fair Value, Assets and Liabilities Measure on Recurring Basis |
The Company’s fair value hierarchy for those
financial instruments measured at fair value on a recurring basis as of December 31, 2025 and 2024 are summarized as follows:
| December 31, 2025 | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Fixed maturity securities, available-for-sale | |
| | |
| | |
| | |
| |
| Corporate bonds | |
$ | - | | |
$ | 4,183,017 | | |
$ | - | | |
$ | 4,183,017 | |
| Total fixed maturity securities | |
$ | - | | |
$ | 4,183,017 | | |
$ | - | | |
$ | 4,183,017 | |
| December 31, 2024 | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Fixed maturity securities, available-for-sale | |
| | |
| | |
| | |
| |
| Corporate bonds | |
$ | - | | |
$ | 5,190,902 | | |
$ | - | | |
$ | 5,190,902 | |
| Total fixed maturity securities | |
$ | - | | |
$ | 5,190,902 | | |
$ | - | | |
$ | 5,190,902 | |
|
| Schedule of Fair Value, by Balance Sheet Grouping |
Financial Instruments Disclosed, But Not Carried,
at Fair Value:
| | |
December 31, 2025 | |
| | |
Carrying | | |
Fair | | |
| | |
| | |
| |
| | |
Amount | | |
Value | | |
Level 1 | | |
Level 2 | | |
Level 3 | |
| Financial assets | |
| | |
| | |
| | |
| | |
| |
| Cash and cash equivalents | |
$ | 8,657,535 | | |
$ | 8,657,535 | | |
$ | 8,657,535 | | |
$ | - | | |
$ | - | |
| Mortgage loans on real estate | |
| 8,857,541 | | |
| 8,163,641 | | |
| - | | |
| - | | |
| 8,163,641 | |
| Policy loans | |
| 6,798 | | |
| 6,798 | | |
| - | | |
| - | | |
| 6,798 | |
| Other long-term investments | |
| 1,131,333 | | |
| 1,151,925 | | |
| - | | |
| - | | |
| 1,151,925 | |
| Accrued investment income | |
| 143,403 | | |
| 143,403 | | |
| - | | |
| - | | |
| 143,403 | |
| Advances and notes receivable | |
| 77,083 | | |
| 77,083 | | |
| - | | |
| - | | |
| 77,083 | |
| Total financial assets | |
$ | 18,873,693 | | |
$ | 18,200,385 | | |
$ | 8,657,535 | | |
$ | - | | |
$ | 9,542,850 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Financial liabilities | |
| | | |
| | | |
| | | |
| | | |
| | |
| Policyholders’ account balances | |
$ | 16,640,404 | | |
$ | 14,315,453 | | |
$ | - | | |
$ | - | | |
$ | 14,315,453 | |
| Policy claims and other benefits | |
| 662,198 | | |
| 662,198 | | |
| - | | |
| - | | |
| 662,198 | |
| Total financial liabilities | |
$ | 17,302,602 | | |
$ | 14,977,651 | | |
$ | - | | |
$ | - | | |
$ | 14,977,651 | |
| | |
December 31, 2024 | |
| | |
Carrying | | |
Fair | | |
| | |
| | |
| |
| | |
Amount | | |
Value | | |
Level 1 | | |
Level 2 | | |
Level 3 | |
| Financial assets | |
| | |
| | |
| | |
| | |
| |
| Cash and cash equivalents | |
$ | 6,649,797 | | |
$ | 6,649,797 | | |
$ | 6,649,797 | | |
$ | - | | |
$ | - | |
| Mortgage loans on real estate | |
| 12,036,730 | | |
| 10,830,565 | | |
| - | | |
| - | | |
| 10,830,565 | |
| Policy loans | |
| 7,327 | | |
| 7,327 | | |
| - | | |
| - | | |
| 7,327 | |
| Other long-term investments | |
| 1,667,757 | | |
| 1,713,811 | | |
| - | | |
| - | | |
| 1,713,811 | |
| Accrued investment income | |
| 148,157 | | |
| 148,157 | | |
| - | | |
| - | | |
| 148,157 | |
| Advances and notes receivable | |
| 25,174 | | |
| 25,174 | | |
| - | | |
| - | | |
| 25,174 | |
| Total financial assets | |
$ | 20,534,942 | | |
$ | 19,374,831 | | |
$ | 6,649,797 | | |
$ | - | | |
$ | 12,725,034 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Financial liabilities | |
| | | |
| | | |
| | | |
| | | |
| | |
| Policyholders’ account balances | |
$ | 19,296,073 | | |
$ | 10,433,416 | | |
$ | - | | |
$ | - | | |
$ | 10,433,416 | |
| Policy claims and other benefits | |
| 932,284 | | |
| 932,284 | | |
| - | | |
| - | | |
| 932,284 | |
| Total financial liabilities | |
$ | 20,228,357 | | |
$ | 11,365,700 | | |
$ | - | | |
$ | - | | |
$ | 11,365,700 | |
|