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LIFE SETTLEMENT POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2025
Investments, All Other Investments [Abstract] |
Schedule of Life Settlement Contracts, Fair Value Method | The following tables summarize the Company’s life insurance policies grouped by remaining life expectancy as of September 30, 2025:
Remaining Life Expectancy (Years) |  | Policies |  | Face Value |  | Net Death Benefit |  | Fair Value
0-1 |  | 15 |  | $ | 14,458,593 |  |  | $ | 14,458,593 |  |  | $ | 11,893,299 |
1-2 |  | 57 |  | 145,683,072 |  |  | 142,652,412 |  |  | 97,060,304 |
2-3 |  | 80 |  | 161,388,535 |  |  | 170,418,237 |  |  | 99,190,624 |
3-4 |  | 52 |  | 104,601,401 |  |  | 95,635,489 |  |  | 46,762,921 |
4-5 |  | 52 |  | 103,532,333 |  |  | 97,675,901 |  |  | 38,019,637 |
Thereafter |  | 263 |  | 559,035,285 |  |  | 559,037,863 |  |  | 130,855,562 |
Total |  | 519 |  | $ | 1,088,699,219 |  |  | $ | 1,079,878,495 |  |  | $ | 423,782,347 |
The following tables summarize the Company’s life insurance policies grouped by remaining life expectancy as of December 31, 2024:
Remaining Life Expectancy (Years) |  | Policies |  | Face Value |  | Net Death Benefit |  | Fair Value
0-1 |  | 8 |  | $ | 8,200,000 |  |  | $ | 8,200,000 |  |  | $ | 6,415,589 |
1-2 |  | 21 |  | 24,726,449 |  |  | 24,728,852 |  |  | 16,167,043 |
2-3 |  | 58 |  | 89,623,722 |  |  | 84,066,291 |  |  | 50,294,452 |
3-4 |  | 81 |  | 151,798,792 |  |  | 149,547,429 |  |  | 70,654,605 |
4-5 |  | 68 |  | 124,251,322 |  |  | 124,954,767 |  |  | 49,505,201 |
Thereafter |  | 478 |  | 897,188,070 |  |  | 882,997,005 |  |  | 177,361,557 |
Total |  | 714 |  | $ | 1,295,788,355 |  |  | $ | 1,274,494,344 |  |  | $ | 370,398,447 |
Schedule of Life Settlement Contracts, Investment Method | Policies Accounted for Using the Investment Method: The following tables summarize the Company’s life insurance policies grouped by remaining life expectancy as of September 30, 2025:
Remaining Life Expectancy (Years) |  | Policies |  | Face Value |  | Net Death Benefit |  | Carrying Value
4-5 |  | 1 |  | $ | 750,000 |  |  | $ | 750,000 |  |  | $ | 434,642 |
Remaining Life Expectancy (Years) |  | Policies |  | Face Value |  | Net Death Benefit |  | Carrying Value
Thereafter |  | 2 |  | 875,000 |  |  | 898,307 |  |  | 470,707 |
Total |  | 3 |  | $ | 1,625,000 |  |  | $ | 1,648,307 |  |  | $ | 905,349 |
The following tables summarize the Company’s life insurance policies grouped by remaining life expectancy as of December 31, 2024:
Remaining Life Expectancy (Years) |  | Policies |  | Face Value |  | Net Death Benefit |  | Carrying Value
4-5 |  | 1 |  | $ | 750,000 |  |  | $ | 750,000 |  |  | $ | 405,331 |
Thereafter |  | 4 |  | 1,475,000 |  |  | 1,499,207 |  |  | 678,646 |
Total |  | 5 |  | $ | 2,225,000 |  |  | $ | 2,249,207 |  |  | $ | 1,083,977 |
Estimated premiums to be paid by the Company for its portfolio accounted for using the investment method during each of the five succeeding calendar years and thereafter as of September 30, 2025, are as follows:
2025 remaining | $ | 12,956 |
2026 | 50,227 |
2027 | 45,384 |
2028 | 11,946 |
Total | $ | 120,513 |
Estimated premiums to be paid by the Company for its portfolio accounted for using the investment method during each of the five succeeding calendar years and thereafter as of December 31, 2024, are as follows:
2025 | $ | 38,078 |
2026 | 55,123 |
2027 | 56,213 |
2028 | 29,756 |
2029 | 6,337 |
Thereafter | 8,394 |
Total | $ | 193,901 |

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- Definition Tabular disclosure of life settlement contracts based on the remaining life expectancy for each of the first five succeeding years from the date of the statement of financial position and thereafter, as well as in the aggregate including: (a) the number of life settlement contracts, (b) the carrying value of the life settlement contracts, and (c) the face value (death benefits) of the life insurance policies underlying the contracts. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 325 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481463/325-30-50-8 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 325 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481463/325-30-50-8 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 325 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481463/325-30-50-8 + Details
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- Definition Tabular disclosure of life settlement contracts based on the remaining life expectancy for each of the first five succeeding years from the date of the statement of financial position and thereafter, as well as in the aggregate including: (a) the number of life settlement contracts, (b) the carrying value of the life settlement contracts, and (c) the face value (death benefits) of the life insurance policies underlying the contracts, and (d) the life insurance premiums anticipated to be paid for each of the five succeeding fiscal years to keep the life settlement contracts in force as of the date of the most recent statement of financial position presented. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 325 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481463/325-30-50-4 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 325 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481463/325-30-50-4 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 325 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481463/325-30-50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 325 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481463/325-30-50-5 + Details
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