<ARTICLE>         7
<LEGEND>          THE SCHEDULE CONTAINS SUMMARY FINANCIAL
                  INFORMATION EXTRACTED FROM FORM 10-Q FOR AMERICAN
                  LIFE HOLDINGS, INC.  DATED MARCH 31, 1996 AND
                  IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
                  SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>      1,000
       
                                                    
<PERIOD-TYPE>                                           3-MOS
<FISCAL-YEAR-END>                                                  DEC-31-1996
<PERIOD-END>                                                       MAR-31-1996
<DEBT-HELD-FOR-SALE>                                                 4,896,000
<DEBT-CARRYING-VALUE>                                                        0
<DEBT-MARKET-VALUE>                                                          0
<EQUITIES>                                                              18,700
<MORTGAGE>                                                              81,100 <F1>
<REAL-ESTATE>                                                                0
<TOTAL-INVEST>                                                       5,104,500
<CASH>                                                                       0 <F2>
<RECOVER-REINSURE>                                                           0
<DEFERRED-ACQUISITION>                                                 360,300 <F3>
<TOTAL-ASSETS>                                                       6,009,300
<POLICY-LOSSES>                                                      5,101,500
<UNEARNED-PREMIUMS>                                                          0
<POLICY-OTHER>                                                           5,900
<POLICY-HOLDER-FUNDS>                                                   90,600
<NOTES-PAYABLE>                                                        282,800
<COMMON>                                                                75,900
<PREFERRED-MANDATORY>                                                        0
<PREFERRED>                                                             68,700
<OTHER-SE>                                                             136,400 <F4>
<TOTAL-LIABILITY-AND-EQUITY>                                         6,009,300
<PREMIUMS>                                                              13,800
<INVESTMENT-INCOME>                                                    102,100
<INVESTMENT-GAINS>                                                       3,400
<OTHER-INCOME>                                                           1,300
<BENEFITS>                                                              69,700 <F5>
<UNDERWRITING-AMORTIZATION>                                             11,400 <F6>
<UNDERWRITING-OTHER>                                                     7,300
<INCOME-PRETAX>                                                         20,400
<INCOME-TAX>                                                             7,900
<INCOME-CONTINUING>                                                     12,500
<DISCONTINUED>                                                               0
<EXTRAORDINARY>                                                              0
<CHANGES>                                                                    0
<NET-INCOME>                                                            10,300
<EPS-PRIMARY>                                                              .61
<EPS-DILUTED>                                                              .61
<RESERVE-OPEN>                                                               0
<PROVISION-CURRENT>                                                          0
<PROVISION-PRIOR>                                                            0
<PAYMENTS-CURRENT>                                                           0
<PAYMENTS-PRIOR>                                                             0
<RESERVE-CLOSE>                                                              0
<CUMULATIVE-DEFICIENCY>                                                      0








<FN>
  <F1>  Includes $18,200 of credit-tenant loans.
  <F2>  Cash and cash  equivalents  are  classified as  short-term  investments,
        which are included in total investments.
  <F3>  Includes $265,400 of cost of policies purchased.
  <F4>  Includes retained earnings of $74,900 and net unrealized appreciation
        of securities of $61,500.
  <F5>  Includes  insurance  policy benefits of $7,300,  change in future policy
        benefits  of $1,200 and  interest  expense on  annuities  and  financial
        products of $61,200.
  <F6>  Includes  amortization of cost of policies  purchased of $7,700 and cost
        of  policies  produced  of $1,100 and  amortization  related to realized
        gains of $2,600.
</FN>