<ARTICLE> 7
       
                                                  
<PERIOD-TYPE>                   12-MOS                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1996
<PERIOD-END>                               DEC-31-1997             DEC-31-1996
<DEBT-HELD-FOR-SALE>                         1,668,630               1,961,166
<DEBT-CARRYING-VALUE>                      180,970,333             179,926,785
<DEBT-MARKET-VALUE>                        184,782,568             181,815,225
<EQUITIES>                                   3,001,744               1,794,405
<MORTGAGE>                                   9,469,444              11,022,792
<REAL-ESTATE>                                9,760,732               9,779,984
<TOTAL-INVEST>                             222,601,494             221,078,779
<CASH>                                      16,105,933              17,326,235
<RECOVER-REINSURE>                          41,343,184              42,601,137
<DEFERRED-ACQUISITION>                      10,600,720              11,325,356
<TOTAL-ASSETS>                             349,299,824             355,473,662
<POLICY-LOSSES>                                      0                       0
<UNEARNED-PREMIUMS>                                  0                       0
<POLICY-OTHER>                             248,805,695             248,879,317
<POLICY-HOLDER-FUNDS>                       19,432,192              19,892,449
<NOTES-PAYABLE>                             21,460,223              19,573,953
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                        32,696                  37,402
<OTHER-SE>                                  15,323,922              17,976,455
<TOTAL-LIABILITY-AND-EQUITY>               349,299,824             355,473,662
<PREMIUMS>                                  28,639,245              30,944,458
<INVESTMENT-INCOME>                         14,857,297              15,868,447
<INVESTMENT-GAINS>                           (279,096)               (987,930)
<OTHER-INCOME>                                 774,884               1,151,395
<BENEFITS>                                  27,055,171              30,326,032
<UNDERWRITING-AMORTIZATION>                  3,616,365               4,224,885
<UNDERWRITING-OTHER>                        13,433,796              19,250,588
<INCOME-PRETAX>                              (113,002)             (6,825,135)
<INCOME-TAX>                                   986,229             (4,703,741)
<INCOME-CONTINUING>                          (559,248)               (937,903)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 (559,248)               (937,903)
<EPS-PRIMARY>                                   (0.32)                  (0.50)
<EPS-DILUTED>                                   (0.32)                  (0.50)
<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