AMENDMENT NUMBER 1
TO THE PROXY STATEMENT OF
INVESTORS HERITAGE LIFE INSURANCE COMPANY
DATED APRIL 17, 1998
The following Summary Compensation Table replaces the Summary Compensation
Table found on page 6 of the Proxy Statement dated April 17, 1998. Please
attach this amendment to your Proxy Statement.
SUMMARY COMPENSATION TABLE
The following table sets forth each executive officer whose aggregate
direct compensation from Investors Heritage Life Insurance Company exceeded
$100,000.
NAME AND PRINCIPAL OTHER ANNUAL
POSITION YEAR SALARY($) BONUS($) COMPENSATION
============================================================================
Harry Lee Waterfield II 1997 $158,684(1) $20,177 -0-
President, Chairman 1996 $153,293(1) $18,686 -0-
of the Board, & 1995 $146,856(1) $17,868 -0-
Chief Executive Officer
Clair S. Manson,Vice 1997 $147,097(2) $12,262 -0-
President, 1996 $141,196(2) $11,820 -0-
Chief Actuary 1995 $135,337(2) $11,216 -0-
Howard L. Graham, 1997 $117,694(2) $10,181 -0-
Vice President- 1996 $113,064(2) $ 9,825 -0-
Corporate Services 1995 $108,716(2) $ 9,301 -0-
Raymond L. Carr, 1997 $ 98,961(1) $10,983 -0-
Vice President- 1996 $101,228(1) $ 8,967 -0-
Administrative Services 1995 $ 96,766(1) $ 8,436 -0-
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(1) Amounts reported consist of contributions made by the Company under the
401(k) Plan, which is available to all employees of the Company.
(2) Amounts reported consist of contributions made by the Company under the
401(k) Plan which is available to all employees of the Company and
contributions made by the Company to the Company's Deferred Compensation Plan
which is available to eligible executive officers of the Company.
P. O. Box 717
Frankfort, Kentucky 40602
April 22, 1998