FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Registrant Name Southern Farm Bureau Life Variable Account
File Number 811-09371
Registrant CIK Number 0001086711
Report as of the end of semiannual period: / / (a)
or fiscal year ending: 12/31/99 (b)
Is this a transition report? (Y/N): N
Is this form being completed by the registrant? (Y/N): Y
Is this an amendment to a previous filing? (Y/N): Y
Is this a change to a previous filing? (Y/N): N
1.A) Registrant Name: Southern Farm Bureau Life Variable Account
B) File Number: 811-09371
C) Telephone Number: 601-981-7422
2.A) Street: 1401 Livingston Lane
B) City: Jackson C) State: MS D) Zip Code: 39213
E) Foreign Country Foreign Postal Code
3. Is this the first filing on this form by the Registrant? (Y/N) N
4. Is this the last filing on this form by the Registrant? (Y/N) N
5. Is Registrant a small business investment company (SBIC)? (Y/N) N
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
7.A) Is Registrant a series or multiple portfolio company? (Y/N) N
B) How many separate series or portfolios did Registrant have at the end of
the period? N/A
UNIT INVESTMENT TRUSTS
111.A) Depositor Name: Southern Farm Bureau Life Insurance Company
B) File Number (If any): N/A
C) City: Jackson State: MS Zip Code: 39213
Foreign Country Foreign Postal Code
112.A) Sponsor Name: N/A
B) File Number (If any):
C) City: State: Zip Code:
Foreign Country Foreign Postal Code
113.A) Trustee Name: N/A
B) City: State: Zip Code:
Foreign Country Foreign Postal Code
114.A) Principal Underwriter Name: Southern Farm Bureau Fund Distributor,
Inc.
B) File Number: 8-26476
C) City: Jackson State: MS Zip Code: 39213
Foreign Country Foreign Postal Code
115.A) Independent Public Accountant Name: KPMG Peat Marwick LLP
B) City: Jackson State: MS Zip Code: 39201
Foreign Country Foreign Postal Code
116. Family of investment companies information:
A) Is Registrant part of a family of investment companies? (Y/N) N
B) Identify the family in 10 letters:
117.A) Is Registrant a separate account of an insurance company? (Y/N) Y
If answer is "Y" (Yes), are any of the following types of contracts funded by
the Registrant?:
B) Variable annuity contracts? (Y/N) Y
C) Scheduled premium variable life contracts? (Y/N) N
D) Flexible premium variable life contracts? (Y/N) N
E) Other types of insurance products registered under the Securities Act
of 1933? (Y/N) N
118. State the number of series existing at the end of the period that had
securities registered under the Securities Act of 1933: 1
119. State the number of new series for which registration statements under the
Securities Act of 1933 became effective during the period: 1
120. State the total value of the portfolio securities on the date of deposit
for the new series included in item 119 ($000s omitted): 0
121. State the number of series for which a current prospectus was in existence
at the end of the period: 1
122. State the number of existing series for which additional units were
registered under the Securities Act of 1933 during the current period: 0
123. State the total value of the additional units considered in answering item
122 ($000s omitted): $ 0
124. State the total value of units of prior series that were placed in the
portfolios of subsequent series during the current period (the value of these
units is to be measured on the date they were placed in the subsequent series)
($000s omitted): $ 0
125. State the total dollar amount of sales loads collected (before reallowances
to other brokers or dealers) by Registrant's principal underwriter and any
underwriter which is an affiliated person of the principal underwriter during
the current period solely from the sale of units of all series of Registrant
($000s omitted) $ 0
126. Of the amount shown in item 125, state the total dollar amount of sales
loads collected from secondary market operations in Registrant's units (include
the sales loads, if any, collected on units of a prior series placed in the
portfolio of a subsequent series) ($000s omitted) $ 0
127. List opposite the appropriate description below the number of series whose
portfolios are invested primarily (based upon a percentage of NAV) in each type
of security shown, the aggregate total assets at market value as of a date at or
near the end of the current period of each such group of series and the total
income distributions made by each such group of series during the current period
(excluding distributions of realized gains, if any):
#of Series Total Assets Total Income
Investing ($000s omitted) Distributions
($000s omitted)
A. US Treasury direct issue
B. US Government agency
C. State and municipal tax-free
D. Public utility debt
E. Brokers or dealers debt or
debt of brokers' or dealers' parent
F. All other corporate interm & long-
term debt
G. All other corporate short-term debt
H. Equity securities of brokers or
dealers or parents of brokers or
dealers
I. Investment company equity securities 1 0 0
J. All other equity securities
K. Other securities
L. Total assets of all series of registrant 1 0 0
128. Is the timely payment of principal and interest on any of the portfolio
securities held by any of Registrant's series at the end of the current period
insured or guaranteed by an entity other than the issuer? (Y/N) N [If
answer is "N" (No), go to item 131.]
129. Is the issuer of any instrument covered in item 128 delinquent or in
default as to payment of principal or interest at the end of the current period?
(Y/N) N/A [If answer is "N" (No), go to item 131.)
130. In computations of NAV or offering price per unit, is any part of the value
attributed to instruments identified in item 129 derived from insurance or
guarantees? (Y/N) N/A
131. Total expenses incurred by all series of Registrant during the current
reporting period ($000s omitted) $ 0
132. List the "811" (Investment Company Act of 1940) registration number for all
series of Registrant that are being included in this filing: None
