SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


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                                    FORM 8-K

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                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934



        Date of Report (Date of Earliest Event Reported): March 16, 2004


                     SECURITY NATIONAL FINANCIAL CORPORATION
             (Exact name of registrant as specified in this Charter)



Utah  0-9341   87-0345941   (State  or  other   jurisdiction  of  incorporation)
(Commission File Number) (IRS Employer Identification No.)



                 5300 South 360 West, Salt Lake City, Utah 84123
               (Address of principal executive offices)(Zip Code)



       Registrant's Telephone Number, Including Area Code: (801) 264-1060





                                 Does Not Apply
          (Former name or former address, if changed since last report)





ITEM 5.  Other Events and Regulation FD Disclosure

Acquisition of Paramount Security Life Insurance Company

     On March  16,  2004,  with the  approval  of the  Louisiana  Department  of
Insurance,  Security National  Financial  Corporation,  through its wholly-owned
subsidiary,  Security National Life Insurance Company, (the "Company") completed
a stock purchase  transaction  with Paramount  Security Life Insurance  Company,
("Paramount"),  a Louisiana  domiciled  insurance company located in Shreveport,
Louisiana. Under the terms of the transaction,  the Company purchased all of the
outstanding shares of common stock of Paramount for a purchase  consideration of
$4,398,000.  As of December 31, 2003,  Paramount had 9,383 policies in force and
29 agents.  For the year ended  December  31,  2003,  Paramount  had revenues of
$614,000 and net income of $76,000.  As of December 31, 2003,  statutory  assets
and capital and surplus were $6,073,000 and $4,100,000, respectively.

     Paramount is licensed in the State of Louisiana and is permitted to appoint
agents who do not have full life insurance licenses. These agents are limited to
selling small life insurance  policies in the final expense market.  The Company
believes  that with this  license  it will be able to expand its  operations  in
Louisiana.  The Company anticipates servicing the Paramount policyholders out of
its Jackson, Mississippi office and has closed the Shreveport office.

ITEM 7.  Financial Statements and Exhibits

     (a) The assets,  consideration  paid,  and net income of Paramount  are not
significant  to the  consolidated  financial  statements  of the  Company.  As a
consequence,  no financial statements of Paramount are required to be filed with
this report.

(b)      Not Applicable

         (c)      Exhibits

     10.1 Stock  Purchase  Agreement  among  Security  National  Life  Insurance
Company,  Paramount Security Life Insurance Company, and Physicians and Surgeons
Medical Center, Inc. and the other shareholders of Paramount.

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                    SECURITY NATIONAL FINANCIAL CORPORATION
                                    (Registrant)



Date:    March 30, 2004               By: /s/ Scott M. Quist
                                          Scott M. Quist, President and
                                          Chief Operating Officer