[ARTICLE] 7

                                                  
[PERIOD-TYPE]                   9-MOS                   9-MOS
[FISCAL-YEAR-END]                          DEC-31-1996             DEC-31-1995
[PERIOD-END]                               SEP-30-1996             SEP-30-1995
[DEBT-HELD-FOR-SALE]                         2,470,934               2,983,146
[DEBT-CARRYING-VALUE]                      197,708,877             186,835,952
[DEBT-MARKET-VALUE]                        197,404,996             186,986,521
[EQUITIES]                                   1,799,001               1,877,477
[MORTGAGE]                                  12,721,704              14,309,461
[REAL-ESTATE]                               14,634,723              17,380,041
[TOTAL-INVEST]                             246,922,379             240,430,255
[CASH]                                      15,196,332              15,622,657
[RECOVER-REINSURE]                          15,194,794              14,442,862
[DEFERRED-ACQUISITION]                      11,900,199              10,978,665
[TOTAL-ASSETS]                             359,158,477             354,414,614
[POLICY-LOSSES]                                      0                       0
[UNEARNED-PREMIUMS]                                  0                       0
[POLICY-OTHER]                             251,648,879             245,187,556
[POLICY-HOLDER-FUNDS]                       16,524,290              15,297,657
[NOTES-PAYABLE]                             20,073,953              20,790,449
[PREFERRED-MANDATORY]                                0                       0
[PREFERRED]                                          0                       0
[COMMON]                                       374,019                 373,519
[OTHER-SE]                                  17,995,059              21,296,818
[TOTAL-LIABILITY-AND-EQUITY]               359,158,477             365,414,614
[PREMIUMS]                                  21,848,140              23,755,429
[INVESTMENT-INCOME]                         11,902,307              11,440,748
[INVESTMENT-GAINS]                           (320,805)               (108,256)
[OTHER-INCOME]                               3,532,987               3,369,841
[BENEFITS]                                  21,991,273              23,190,558
[UNDERWRITING-AMORTIZATION]                  6,469,444               8,197,048
[UNDERWRITING-OTHER]                        11,057,177               9,305,090
[INCOME-PRETAX]                            (2,555,265)             (2,314,934)
[INCOME-TAX]                                   990,411               1,240,694
[INCOME-CONTINUING]                          (578,986)               (314,094)
[DISCONTINUED]                                       0                       0
[EXTRAORDINARY]                                      0                       0
[CHANGES]                                            0                       0
[NET-INCOME]                                 (578,986)               (312,094)
[EPS-PRIMARY]                                    (.03)                   (.02)
[EPS-DILUTED]                                    (.03)                   (.02)
[RESERVE-OPEN]                                       0                       0
[PROVISION-CURRENT]                                  0                       0
[PROVISION-PRIOR]                                    0                       0
[PAYMENTS-CURRENT]                                   0                       0
[PAYMENTS-PRIOR]                                     0                       0
[RESERVE-CLOSE]                                      0                       0
[CUMULATIVE-DEFICIENCY]                              0                       0