Exhibit 10(v)

EXECUTIVE CHANGE IN CONTROL SEVERANCE POLICY
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CHANGE IN CONTROL SEVERANCE POLICY


PARTICIPANT:


SCOPE:          This policy applies to Designated Officers of EMPHESYS
                Financial Group, Inc. and Employers Health Insurance.
                
PURPOSE:        To provide a uniform policy that will insure the retention of
                Key Individuals during a possible transitionary phase to any new
                form of ownership and to provide a uniform policy for the
                administration of severance benefits for designated individuals
                in the event of a "Change in control" as defined in this policy.

ELIGIBILITY:    Termination of employment after a "Change in Control". In the
                event that an employee covered under the scope of this policy is
                terminated by the company while this policy is in effect within
                eighteen months following a Change in Control (as defined in
                this policy) with or without good cause; or if employee
                terminates their own employment within 6 months after a 25% or
                more reduction in base annual salary following a Change of
                Control, the company shall (1) pay to Employee an amount equal
                to their current annual base salary accrued through the date the
                termination becomes effective, (2) pay to employee an amount
                equal to their Management Incentive Bonus accrued through the
                date the termination becomes effective (3) pay to the employee
                an amount equal to the benefits shown in the benefits section of
                this policy. The payment of this severance shall be made in the
                form of a salary continuance for the period specified in the
                schedule and will also provide for the continuance of current
                medical insurance and life insurance for the same period of
                time. The severance paid under this plan will be paid in lieu of
                any severance benefits provided under any other company provided
                severance plans.

BENEFITS:       Employees covered under the scope of this policy shall be 
                eligible for continuation of Base Salary and Benefits for
                Six/Nine Months from the date of termination.

DEFINITION:     For the purposes of this policy, "Change in Control" shall be 
                deemed to have occurred if, during, of following the
                consummation of, a stock purchase plan, tender offer, exchange
                offer, merger, consolidation, sale of assets, contested election
                or any combination of the foregoing transactions, any person,
                entity, or group of persons acting in concert, directly or
                indirectly, (i) acquires ownership of the power to vote 40% of
                the voting securities of EFG and one or more of its
                representatives are elected to the Board, (ii) acquires
                ownership of the power to vote in excess of 50% of the voting
                powers of EFG, or (iii) otherwise acquires effective control of
                the business and affairs of EFG; provided however, that
                acquisition of shares pursuant to the initial public offering of
                EFG shall not be used to compute the percentage ownership for
                purposes of defining Change of Control.

REQUIREMENTS:   In order to receive the benefits under this policy, the covered
                employee must agree in writing to the Settlement Agreement and
                General Release that will be provided in advance of the
                receiving of any benefits. Such employee will not receive any of
                the described benefits or any other severance benefits in the
                absence of executing and agreeing to the Letter and Agreement.

MISCELLANEOUS:  This policy statement is intended as an overview of the benefits
                provided. In the case of any discrepancies, the actual language
                of the Settlement Agreement and General Release shall be the
                binding language. This policy will be administered by the Chief
                Executive Officer and the Vice President and Human Resources.