TORCHMARK CORP
SC 14D1/A, 1994-10-28
ACCIDENT & HEALTH INSURANCE
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<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                            ----------------------

                              AMENDMENT NO. 3 TO
                                SCHEDULE 14D-1
                      TENDER OFFER STATEMENT PURSUANT TO
            SECTION 14(d)(1) OF THE SECURITIES EXCHANGE ACT OF 1934

                                      AND

                              AMENDMENT NO. 3 TO
                                 SCHEDULE 13D
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934

                         AMERICAN INCOME HOLDING, INC.
                           (NAME OF SUBJECT COMPANY)

                            -----------------------

                          TMK ACQUISITION CORPORATION
                             TORCHMARK CORPORATION
                                   (BIDDERS)

                             ----------------------

                    COMMON STOCK, PAR VALUE $.01 PER SHARE
                        (TITLE OF CLASS OF SECURITIES)
 
                             ---------------------- 

                                  026728 10 5
                     (CUSIP NUMBER OF CLASS OF SECURITIES)

                                Keith A. Tucker
                    President, TMK Acquisition Corporation
                                  6300 Lamar
                         Shawnee Mission, Kansas 66201
                                (913) 236-1915

         (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSONS AUTHORIZED TO
           RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF BIDDERS)

                                  COPIES TO:

                            ALAN J. BOGDANOW, ESQ.
                             HUGHES & LUCE, L.L.P.
                               1717 MAIN STREET
                                  SUITE 2800
                              DALLAS, TEXAS 75201
                                (214) 939-5500

                             ---------------------- 

                     Total Sequentially Numbered Pages:  5
                         Exhibit Index is on Page:  4

                                  Page 1 of 5
<PAGE>
 
     This Amendment amends and supplements the Tender Offer Statement on 
Schedule 14D-1 and the Schedule 13D (together the "Schedule 14D-1/13D") of TMK 
Acquisition Corporation (the "Purchaser"), a Delaware corporation and wholly 
owned subsidiary of Torchmark Corporation, a Delaware corporation ("Parent"), 
relating to the Purchaser's offer to purchase all outstanding shares of common 
stock, par value $.01 per share (collectively, the "Shares"), of American Income
Holding, Inc., a Delaware corporation, at a purchase price of $35.00 per Share, 
net to the seller in cash, without interest, subject to the terms and conditions
of the Offer to Purchase and related Letter of Transmittal dated September 21, 
1994.

     ITEM 10.  ADDITIONAL INFORMATION.

     On October 27, 1994, the Parent and the Purchaser issued the press release 
attached to this Schedule 14D-1/13D as Exhibit (a)(12), which is incorporated in
this Schedule 14D-1/13D by reference.

     ITEM 11.  MATERIAL TO BE FILED AS EXHIBITS.

     (a)(12) Text of Press Release dated October 27, 1994.

                                  Page 2 of 5
<PAGE>
 
                                  SIGNATURES

     After due inquiry and to the best of my knowledge and belief, I certify 
that the information set forth in this statement is true, complete and correct.

Dated:  October 28, 1994

                                               TMK ACQUISITION CORPORATION     
                                                                               
                                               By: /s/ Keith A. Tucker         
                                                   ----------------------------
                                                                               
                                                   Name: Keith A. Tucker       
                                                         ----------------------
                                                   Title: President            
                                                          ---------------------
                                                                               
                                               TORCHMARK CORPORATION           
                                                                               
                                               By: /s/ Keith A. Tucker         
                                                   ----------------------------
                                                                               
                                                   Name: Keith A. Tucker       
                                                         ----------------------
                                                   Title: Vice Chairman        
                                                          --------------------- 

                                  Page 3 of 5
<PAGE>
 
                                 Exhibit Index

                                                                     Page
                                                                     ----

(a)(12)   Text of Press Release dated October 27, 1994                 5


                                  Page 4 of 5
<PAGE>
 
                                                                         (a)(12)

                            [TORCHMARK LETTERHEAD]

                                                                NYSE Symbol: TMK

Contact:  Lee Bartlett (205) 325-4204                      FOR IMMEDIATE RELEASE
          Gary Coleman (214) 320-7232

               TORCHMARK OFFER FOR AMERICAN INCOME HOLDING, INC.

     BIRMINGHAM, ALABAMA, October 27, 1994....Torchmark Corporation (NYSE:  TMK)
announced today that the insurance regulatory authorities of the States of 
Indiana and Texas have issued the regulatory approvals and waivers necessary for
the consummation of Torchmark's offer to purchase all outstanding shares of 
common stock of American Income Holding, Inc. (NYSE:AIH) for $35.00 per share, 
net to the seller in cash. Unless extended, the offer to purchase will expire at
5:00 p.m., New York City time, on October 28, 1994.

     As of October 26, 1994, 10,334,190 shares had been tendered pursuant to the
offer, representing approximately 65.7% of the total outstanding shares.

     Torchmark Corporation is an insurance and diversified financial services 
holding company, whose principal operating subsidiaries are Liberty National 
Life Insurance Company, United American Insurance Company, Globe Life And 
Accident Insurance Company, Torch Energy Advisors Incorporated, Waddell & Reed, 
Inc., United Investors Life Insurance Company and Family Service Life Insurance 
Company.

                            *    *    *    *    *  

                                  Page 5 of 5


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