XML 45 R33.htm IDEA: XBRL DOCUMENT v3.25.3

LIFE SETTLEMENT POLICIES (Tables)

9 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfLifeSettlementContractsFairValueMethodTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfLifeSettlementContractsInvestmentMethodTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration