<ARTICLE> 7
<LEGEND>

THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INDEPENDENCE HOLDING COMPANY FORM 10-Q FOR THE QUARTER PERIOD ENDED 
MARCH 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000701869
<NAME> INDEPENDENCE HOLDING COMPANY
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               MAR-31-1995
<DEBT-HELD-FOR-SALE>                       131,349,000
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                  10,171,000
<MORTGAGE>                                     508,000
<REAL-ESTATE>                                  936,000
<TOTAL-INVEST>                             198,093,000
<CASH>                                      10,172,000
<RECOVER-REINSURE>                          39,988,000
<DEFERRED-ACQUISITION>                      10,286,000
<TOTAL-ASSETS>                             308,690,000
<POLICY-LOSSES>                            100,598,000
<UNEARNED-PREMIUMS>                         15,486,000
<POLICY-OTHER>                              34,734,000
<POLICY-HOLDER-FUNDS>                        2,102,000
<NOTES-PAYABLE>                                      0
<COMMON>                                    15,422,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                  45,226,000
<TOTAL-LIABILITY-AND-EQUITY>               308,690,000
<PREMIUMS>                                  13,205,000
<INVESTMENT-INCOME>                          3,275,000
<INVESTMENT-GAINS>                           (982,000)
<OTHER-INCOME>                                 740,000
<BENEFITS>                                   9,512,000
<UNDERWRITING-AMORTIZATION>                  1,071,000
<UNDERWRITING-OTHER>                                 0
<INCOME-PRETAX>                                563,000
<INCOME-TAX>                                 (174,000)
<INCOME-CONTINUING>                            737,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   737,000
<EPS-PRIMARY>                                      .05
<EPS-DILUTED>                                      .07
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0