INDEPENDENCE HOLDING CO
10-C, 1995-07-20
LIFE INSURANCE
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                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549

                                 Form 10-C

             Report by Issuer of Securities Quoted on NASDAQ
                     Interdealer Quotation System

              Filed pursuant to Section 13 or 15(d) of the
             Securities Exchange Act of 1934 and Rule 13a-17
                          or 15d-17 thereunder

                        INDEPENDENCE HOLDING COMPANY                          
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              (Exact name of issuer as specified in charter)

                 96 Cummings Point Road, Stamford, CT  06902                   
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                  (Address of principal executive offices)

Issuer's telephone number, including area code  (203)  358-8000               
                                               ----------------

                 I. CHANGE IN NUMBER OF SHARES OUTSTANDING

      Indicate any change (increase or decrease) of 5% or more in the number
of shares outstanding:

1. Title of security  Common Stock, par value $1.00 per share                  
                      ------------------------------------------------------
2. Number of shares outstanding before the change  16,074,403                  
                                                   -------------------------
3. Number of shares outstanding after the change  15,036,040                   
                                                  --------------------------
4. Effective date of change  July 11, 1995                                     
                             -----------------------------------------------
5. Method of change:

      Specify method (such as merger, acquisition, exchange, distribution,
stock split, reverse split, acquisition of stock for treasury, etc.)
Acquisition of stock for retirement.
- ------------------------------------

      Give brief description of transaction  Open market and private purchases.
                                             ----------------------------------


                        II. CHANGE IN NAME OF ISSUER
      
1. Name prior to change ______________________________________________________

2. Name after change _________________________________________________________
                                    
3. Effective date of charter amendment changing name _________________________

4. Date of shareholder approval of change, if required _______________________


Date: July 20, 1995                        /s/ David T. Kettig                
      -------------                            -------------------------------
                                              (Officer's signature & title)
                                               David T. Kettig,
                                               Vice President - Legal and
                                               Secretary


                        



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