<ARTICLE> 7
       
                                                  
<PERIOD-TYPE>                   3-MOS                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1996
<PERIOD-END>                               MAR-31-1997             MAR-31-1996
<DEBT-HELD-FOR-SALE>                         1,950,874               1,961,166
<DEBT-CARRYING-VALUE>                      182,749,989             179,926,785
<DEBT-MARKET-VALUE>                        181,564,148             181,815,225
<EQUITIES>                                   1,786,301               1,794,405
<MORTGAGE>                                  10,483,654              11,022,792
<REAL-ESTATE>                               10,563,907              10,543,490
<TOTAL-INVEST>                             226,027,145             223,964,687
<CASH>                                      15,801,573              17,326,235
<RECOVER-REINSURE>                          42,227,051              42,601,137
<DEFERRED-ACQUISITION>                      11,084,697              11,325,356
<TOTAL-ASSETS>                             355,979,936             355,473,662
<POLICY-LOSSES>                                      0                       0
<UNEARNED-PREMIUMS>                                  0                       0
<POLICY-OTHER>                             250,269,058             248,879,317
<POLICY-HOLDER-FUNDS>                       19,485,088              19,892,449
<NOTES-PAYABLE>                             19,573,953              19,573,953
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                       374,019                 374,019
<OTHER-SE>                                  17,679,767              17,639,838
<TOTAL-LIABILITY-AND-EQUITY>               355,979,936             355,473,662
<PREMIUMS>                                   7,926,386               8,481,511
<INVESTMENT-INCOME>                          3,844,899               3,973,349
<INVESTMENT-GAINS>                             (6,136)                (12,031)
<OTHER-INCOME>                                 200,422                 427,311
<BENEFITS>                                   7,718,015               6,528,760
<UNDERWRITING-AMORTIZATION>                  1,110,410               1,161,850
<UNDERWRITING-OTHER>                         3,530,388               5,251,145
<INCOME-PRETAX>                              (393,242)                (71,615)
<INCOME-TAX>                                 (403,562)               (577,097)
<INCOME-CONTINUING>                             47,026                 304,737
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                    47,026                 304,737
<EPS-PRIMARY>                                     0.00                    0.02
<EPS-DILUTED>                                     0.00                    0.02
<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