SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of Report (Date of earliest event reported) April 10, 1996
(April 2, 1996)
TORCHMARK CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-8052 63-0780404
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification No.)
incorporation)
2001 Third Avenue South, Birmingham, Alabama 35233
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (205) 325-4200
None
(Former name or former address, if changed since last report)
Index of Exhibits page 2.
Total number of pages in this report is 3.
<PAGE>
Item 5. Other Events.
On April 2, 1996, Torchmark Corporation's subsidiary, Liberty
National Life Insurance Company ("Liberty") was served with
purported class action litigation filed in the Circuit Court of
Jefferson County, Alabama on March 19, 1996 (Harris v. Liberty
National Life Insurance Company, CV 96-01836). The complaint
alleges that a class of persons were insured under Liberty cancer
polices when it was known to Liberty that such persons were
participants in Medicaid, Medicare and/or CHAMPUS. It is asserted
in the complaint that such persons were not entitled to retain any
benefits paid under these policies. Unspecified compensatory and
punitive damages are sought. Liberty denies the allegations of
complaint and intends to vigorously defend this suit.
Much attention has been generated nationally with regard to
so-called "vanishing premium cases, where allegations are made that
an interest-sensitive policy was sold with a projection that the
policy would become paid-up or self-sustaining after a period of
years. Torchmark has previously reported that its subsidiary
Liberty is a party to a purported interest-sensitive class action
lawsuit (Carlton v. Liberty National Life Insurance Company, Case
No. CV 96-22) in the Circuit Court for Chambers County, Alabama.
Liberty is also currently named as a defendant in 51 additional
individual interest-sensitive cases filed in Chambers County,
Alabama by a single law firm.
Torchmark has also previously reported that Liberty is a party
to purported class action litigation in Jefferson County, Alabama,
alleging that Liberty induced persons to exchange life insurance
policies for new coverages where either benefits were reduced or
the existing policy's cash value was depleted (Lawson v. Liberty
National Life Insurance Company, Civil Action No.: CV 96-01119).
Excluding the Chambers County, Alabama cases referred to above,
Liberty is presently a defendant in approximately 30 active
individual cases with allegations of life insurance policy
exchanges.
Item 7. Financial Statement and Exhibits.
(a) Financial Statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
TORCHMARK CORPORATION
Date: April 10, 1996 /s/ R. K. Richey
R. K. Richey
Chairman and Chief Executive Officer
