EXHIBIT 11

           NATIONAL WESTERN LIFE INSURANCE COMPANY AND SUBSIDIARIES
                      COMPUTATION OF EARNINGS PER SHARE
               For the Six Months Ended June 30, 1999 and 1998
                                 (Unaudited)
                     (In thousands except per share data)



                                                       1999       1998

                                                             

Numerator for basic and diluted earnings
per share:
    Earnings available to common stockholders
    before and after assumed conversions:
    Net earnings                                   $    26,301     22,640


Denominator:
    Basic earnings per share -
    weighted-average shares                              3,499      3,493

    Effect of dilutive stock options                        34         35

    Diluted earnings per share -
    adjusted weighted-average
    shares for assumed conversions                       3,533      3,528


Basic earnings per share:
    Net earnings                                   $      7.52       6.48


Diluted earnings per share:
    Net earnings                                   $      7.45       6.42