<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,
1997 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-31-1997
<PERIOD-END>                               MAR-31-1997
<DEBT-HELD-FOR-SALE>                       174,646,000
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                   8,769,000
<MORTGAGE>                                     325,000
<REAL-ESTATE>                                  812,000
<TOTAL-INVEST>                             252,947,000
<CASH>                                       2,224,000
<RECOVER-REINSURE>                          57,332,000
<DEFERRED-ACQUISITION>                      11,458,000
<TOTAL-ASSETS>                             340,968,000
<POLICY-LOSSES>                            126,972,000
<UNEARNED-PREMIUMS>                         13,438,000
<POLICY-OTHER>                              67,856,000
<POLICY-HOLDER-FUNDS>                        2,263,000
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     7,432,000
<OTHER-SE>                                  68,258,000
<TOTAL-LIABILITY-AND-EQUITY>               340,968,000
<PREMIUMS>                                  18,749,000
<INVESTMENT-INCOME>                          4,182,000
<INVESTMENT-GAINS>                             322,000
<OTHER-INCOME>                               1,253,000
<BENEFITS>                                  14,064,000
<UNDERWRITING-AMORTIZATION>                    711,000
<UNDERWRITING-OTHER>                                 0
<INCOME-PRETAX>                              2,562,000
<INCOME-TAX>                                   302,000
<INCOME-CONTINUING>                          2,260,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,260,000
<EPS-PRIMARY>                                      .30
<EPS-DILUTED>                                      .33
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0