| Accounting Standards Update and Change in Accounting Principle [Table Text Block] |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
| |
|
Number of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
|
|
Total |
|
| |
|
Shares of
|
|
|
Common
|
|
|
Additional
|
|
|
Accumulated
|
|
|
Comprehensive
|
|
|
Shareholders'
|
|
| |
|
Common Stock
|
|
|
Stock
|
|
|
Paid-in Capital
|
|
|
Deficit
|
|
|
Loss
|
|
|
Equity
|
|
|
Balance at December 31, 2023
|
|
|
7,748,922 |
|
|
$ |
774,893 |
|
|
$ |
22,964,490 |
|
|
$ |
(10,491,934 |
) |
|
$ |
(2,916,372 |
) |
|
$ |
10,331,077 |
|
|
Impact of Adoption of ASU 2018-12, net of income taxes
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(1,124 |
) |
|
|
2,114,541 |
|
|
|
2,113,417 |
|
|
Balance at January 1, 2024
|
|
|
7,748,922 |
|
|
$ |
774,893 |
|
|
$ |
22,964,490 |
|
|
$ |
(10,493,058 |
) |
|
$ |
(801,831 |
) |
|
$ |
12,444,494 |
|
| |
|
|
|
|
|
Impact to
|
|
| |
|
Impact to
|
|
|
Accumulated Other |
|
| |
|
Accumulated
Deficit
|
|
|
Comprehensive
Income (Loss)
|
|
|
Long-Duration - Fixed Annuity
|
|
$ |
- |
|
|
$ |
- |
|
|
Long-Duration - Universal Life
|
|
|
- |
|
|
|
- |
|
|
Long-Duration - Individual Life
|
|
|
(1,424 |
) |
|
|
2,677,633 |
|
|
Long-Duration - Critical Illness
|
|
|
1 |
|
|
|
(999 |
) |
|
Total Impact of Adoption of ASU 2018-12, before Income Taxes
|
|
|
(1,423 |
) |
|
|
2,676,634 |
|
|
Less: income taxes
|
|
|
299 |
|
|
|
(562,093 |
) |
|
Total Impact of Adoption of ASU 2018-12, net of Income Taxes
|
|
$ |
(1,124 |
) |
|
$ |
2,114,541 |
|
| |
|
Individual Life
|
|
|
Critical Illness
|
|
|
Total
|
|
|
Balance at December 31, 2023
|
|
$ |
1,702,286 |
|
|
$ |
11,632 |
|
|
$ |
1,713,918 |
|
|
Impact to retained earnings (accumulated deficit) from capping of net premium ratio at transition date
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Impact of deferred profit liability
|
|
|
1 |
|
|
|
(1 |
) |
|
|
- |
|
|
Beginning balance at original discount rate
|
|
|
1,702,287 |
|
|
|
11,631 |
|
|
|
1,713,918 |
|
|
Impact of flooring
|
|
|
18,217 |
|
|
|
78 |
|
|
|
18,295 |
|
|
Effect of change in discount rate assumptions
|
|
|
(173,418 |
) |
|
|
(822 |
) |
|
|
(174,240 |
) |
|
Balance at January 1, 2024
|
|
$ |
1,547,086 |
|
|
$ |
10,887 |
|
|
$ |
1,557,973 |
|
| |
|
Individual Life
|
|
|
Critical Illness
|
|
|
Total
|
|
|
Balance at December 31, 2023
|
|
$ |
35,351,428 |
|
|
$ |
12,501 |
|
|
$ |
35,363,929 |
|
|
Effect of change in discount rate assumptions
|
|
|
(2,878,888 |
) |
|
|
(1,286 |
) |
|
|
(2,880,174 |
) |
|
Balance at January 1, 2024
|
|
$ |
32,472,540 |
|
|
$ |
11,215 |
|
|
$ |
32,483,755 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net liability for future policy benefits
|
|
$ |
30,925,454 |
|
|
$ |
328 |
|
|
$ |
30,925,782 |
|
|
Less: Reinsurance recoverable
|
|
|
69,160 |
|
|
|
(1,015 |
) |
|
|
68,145 |
|
|
Net liability for future policy benefits, after reinsurance recoverable
|
|
$ |
30,856,294 |
|
|
$ |
1,343 |
|
|
$ |
30,857,637 |
|
| |
|
December 31, 2024
|
|
| |
|
Historical Accounting
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet
|
|
Method
|
|
|
As Adjusted
|
|
|
Effect of Change
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reinsurance related assets
|
|
$ |
522,142 |
|
|
$ |
788,886 |
|
|
$ |
266,744 |
|
|
Deferred acquisition costs, net
|
|
|
3,908,636 |
|
|
|
4,402,995 |
|
|
|
494,359 |
|
|
Deferred tax asset, net of valuation allowance
|
|
|
3,747,111 |
|
|
|
2,862,157 |
|
|
|
(884,954 |
) |
|
Impacted Assets
|
|
$ |
8,177,889 |
|
|
$ |
8,054,038 |
|
|
$ |
(123,851 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Policyholder benefit reserves
|
|
$ |
39,898,138 |
|
|
$ |
36,444,940 |
|
|
$ |
(3,453,198 |
) |
|
Deposit-type contracts
|
|
|
77,940,378 |
|
|
|
77,940,378 |
|
|
|
- |
|
|
Impacted Liabilities
|
|
$ |
117,838,516 |
|
|
$ |
114,385,318 |
|
|
$ |
(3,453,198 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated deficit
|
|
$ |
(10,020,956 |
) |
|
$ |
(9,952,686 |
) |
|
$ |
68,270 |
|
|
Accumulated other comprehensive (loss) income
|
|
|
(3,090,176 |
) |
|
|
170,902 |
|
|
|
3,261,078 |
|
|
Impacted Shareholders' Equity
|
|
$ |
(13,111,132 |
) |
|
$ |
(9,781,784 |
) |
|
$ |
3,329,348 |
|
| |
|
June 30, 2025
|
|
| |
|
Historical Accounting
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet
|
|
Method
|
|
|
As Adjusted
|
|
|
Effect of Change
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reinsurance related assets
|
|
$ |
851,275 |
|
|
$ |
1,301,831 |
|
|
$ |
450,556 |
|
|
Deferred acquisition costs, net
|
|
|
3,927,814 |
|
|
|
4,642,836 |
|
|
|
715,022 |
|
|
Deferred tax asset, net of valuation allowance
|
|
|
3,856,841 |
|
|
|
3,194,756 |
|
|
|
(662,085 |
) |
|
Impacted Assets
|
|
$ |
8,635,930 |
|
|
$ |
9,139,423 |
|
|
$ |
503,493 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Policyholder benefit reserves
|
|
$ |
42,829,475 |
|
|
$ |
40,159,929 |
|
|
$ |
(2,669,546 |
) |
|
Deposit-type contracts
|
|
|
71,068,784 |
|
|
|
71,068,784 |
|
|
|
- |
|
|
Impacted Liabilities
|
|
$ |
113,898,259 |
|
|
$ |
111,228,713 |
|
|
$ |
(2,669,546 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated deficit
|
|
$ |
(10,601,778 |
) |
|
$ |
(10,380,642 |
) |
|
$ |
221,136 |
|
|
Accumulated other comprehensive (loss) income
|
|
|
(2,674,085 |
) |
|
|
277,818 |
|
|
|
2,951,903 |
|
|
Impacted Shareholders' Equity
|
|
$ |
(13,275,863 |
) |
|
$ |
(10,102,824 |
) |
|
$ |
3,173,039 |
|
| |
|
Six Months Ended June 30, 2025
|
|
| |
|
Historical Accounting
|
|
|
|
|
|
|
|
|
|
| |
|
Method
|
|
|
As Adjusted
|
|
|
Effect of Change
|
|
|
Statement of Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premium income
|
|
$ |
8,554,211 |
|
|
$ |
8,554,211 |
|
|
$ |
- |
|
|
Policy benefits
|
|
|
3,922,850 |
|
|
|
3,922,850 |
|
|
|
- |
|
|
Increase in policyholder reserves
|
|
|
2,782,306 |
|
|
|
2,810,683 |
|
|
|
28,377 |
|
|
Amortization of deferred acquisition costs
|
|
|
663,366 |
|
|
|
441,487 |
|
|
|
(221,879 |
) |
|
Deferred income tax benefit (expense)
|
|
|
40,904 |
|
|
|
269 |
|
|
|
(40,635 |
) |
|
Net loss
|
|
|
(580,822 |
) |
|
|
(427,955 |
) |
|
|
152,867 |
|
|
Net loss per common share, basic and diluted
|
|
$ |
(0.07 |
) |
|
$ |
(0.06 |
) |
|
$ |
0.02 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Statement of Comprehensive Income (Loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$ |
(580,822 |
) |
|
$ |
(427,955 |
) |
|
$ |
152,867 |
|
|
Change in the effect of discount rate assumptions on the liability for future policy benefits, net of reinsurance, net of tax
|
|
|
- |
|
|
|
(309,175 |
) |
|
|
(309,175 |
) |
|
Comprehensive income
|
|
$ |
(164,731 |
) |
|
$ |
(321,039 |
) |
|
$ |
(156,308 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Statement of Shareholders' Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income (loss) balance at beginning of year
|
|
$ |
(3,090,176 |
) |
|
$ |
170,902 |
|
|
$ |
3,261,078 |
|
|
Other comprehensive income
|
|
|
416,091 |
|
|
|
106,916 |
|
|
|
(309,175 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity balance at beginning of year
|
|
|
10,630,418 |
|
|
|
13,959,766 |
|
|
|
3,329,348 |
|
|
Net loss
|
|
|
(580,822 |
) |
|
|
(427,955 |
) |
|
|
152,867 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Statement of Cash Flows
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities
|
|
$ |
3,571,367 |
|
|
$ |
3,571,367 |
|
|
$ |
- |
|
|
Net income
|
|
|
(580,822 |
) |
|
|
(427,955 |
) |
|
|
152,867 |
|
|
Deferred acquisition costs amortized
|
|
|
663,365 |
|
|
|
441,487 |
|
|
|
(221,878 |
) |
|
Deferred income taxes
|
|
|
(109,730 |
) |
|
|
(249,197 |
) |
|
|
(139,467 |
) |
|
Change in reinsurance related assets
|
|
|
(723,096 |
) |
|
|
(906,908 |
) |
|
|
(183,812 |
) |
|
Change in policy owner benefit reserves
|
|
|
2,931,337 |
|
|
|
3,323,628 |
|
|
|
392,291 |
|
| |
|
Three Months Ended June 30, 2025
|
|
| |
|
Historical Accounting
|
|
|
|
|
|
|
|
|
|
| |
|
Method
|
|
|
As Adjusted
|
|
|
Effect of Change
|
|
|
Statement of Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premium income
|
|
$ |
4,134,618 |
|
|
$ |
4,134,618 |
|
|
$ |
- |
|
|
Policy benefits
|
|
|
1,830,311 |
|
|
|
1,830,311 |
|
|
|
- |
|
|
Increase in policyholder reserves
|
|
|
1,216,756 |
|
|
|
1,136,813 |
|
|
|
(79,943 |
) |
|
Amortization of deferred acquisition costs
|
|
|
356,103 |
|
|
|
273,563 |
|
|
|
(82,540 |
) |
|
Deferred income tax benefit (expense)
|
|
|
(181,929 |
) |
|
|
(216,050 |
) |
|
|
(34,121 |
) |
|
Net income
|
|
|
791,123 |
|
|
|
919,485 |
|
|
|
128,362 |
|
|
Net income per common share, basic and diluted
|
|
$ |
0.10 |
|
|
$ |
0.12 |
|
|
$ |
0.02 |
|
|