<ARTICLE> 7                    
       
                                                      
<PERIOD-TYPE>                   YEAR                     YEAR
<FISCAL-YEAR-END>                            DEC-31-1998         DEC-31-1997
<PERIOD-END>                                 DEC-31-1998         DEC-31-1997
<DEBT-HELD-FOR-SALE>                           1,505,406           1,668,630
<DEBT-CARRYING-VALUE>                        174,240,848         180,970,333
<DEBT-MARKET-VALUE>                          179,885,379         184,782,568
<EQUITIES>                                     2,087,416           3,001,744
<MORTGAGE>                                    10,941,614           9,469,444
<REAL-ESTATE>                                 10,529,183          11,485,276
<TOTAL-INVEST>                               215,407,582         223,441,560
<CASH>                                        26,378,463          16,105,933
<RECOVER-REINSURE>                            40,529,901          41,343,184
<DEFERRED-ACQUISITION>                         6,324,548          10,600,720
<TOTAL-ASSETS>                               343,824,421         349,299,824
<POLICY-LOSSES>                                        0                   0
<UNEARNED-PREMIUMS>                                    0                   0
<POLICY-OTHER>                               248,391,753         248,805,695
<POLICY-HOLDER-FUNDS>                         19,663,114          19,432,192
<NOTES-PAYABLE>                                9,529,138          21,460,223
<PREFERRED-MANDATORY>                                  0                   0
<PREFERRED>                                            0                   0
<COMMON>                                          49,809              32,696
<OTHER-SE>                                    25,311,502          15,323,922
<TOTAL-LIABILITY-AND-EQUITY>                 343,824,421         349,299,824
<PREMIUMS>                                    26,396,077          28,639,245
<INVESTMENT-INCOME>                           15,042,287          14,857,297
<INVESTMENT-GAINS>                            (1,119,156)           (279,096)
<OTHER-INCOME>                                   566,192             774,884
<BENEFITS>                                    25,472,374          27,055,171
<UNDERWRITING-AMORTIZATION>                    6,450,529           3,616,365
<UNDERWRITING-OTHER>                          15,079,677          13,433,796
<INCOME-PRETAX>                               (6,117,180)           (113,002)
<INCOME-TAX>                                   4,624,032            (986,229)
<INCOME-CONTINUING>                             (679,492)           (559,248)
<DISCONTINUED>                                         0                   0
<EXTRAORDINARY>                                        0                   0
<CHANGES>                                              0                   0
<NET-INCOME>                                    (679,492)           (559,248)
<EPS-PRIMARY>                                      (0.39)              (0.32)
<EPS-DILUTED>                                      (0.39)              (0.32)
<RESERVE-OPEN>                                         0                   0
<PROVISION-CURRENT>                                    0                   0
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<PAYMENTS-PRIOR>                                       0                   0
<RESERVE-CLOSE>                                        0                   0
<CUMULATIVE-DEFICIENCY>                                0                   0