USLICO SERIES FUND/VA/
NSAR-A/A, 1997-08-29
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<PAGE>      PAGE  1
000 A000000 06/30/97
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000 F000000 Y
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000 I000000 3.0.a
000 J000000 A
001 A000000 USLICO SERIES FUND
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001 C000000 7038753623
002 A000000 4601 N. FAIRFAX DRIVE
002 B000000 ARLINGTON
002 C000000 VA
002 D010000 22203
003  000000 N
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008 A00AA02 NEWBOLD'S ASSET MANAGEMENT, INC.
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<PAGE>      PAGE  2
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SIGNATURE   STEPHANIE COPES                              
TITLE       ASST. SECRETARY     
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000827885
<NAME> USLICO SERIES FUND
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   <NAME> COMMON STOCK PORTFOLIO
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<AVERAGE-NET-ASSETS>                             24219
<PER-SHARE-NAV-BEGIN>                            13.25
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                           1.65
<PER-SHARE-DIVIDEND>                              (.13)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.90
<EXPENSE-RATIO>                                    .36
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000827885
<NAME> USLICO SERIES FUND
<SERIES>
   <NUMBER> 2
   <NAME> MONEY MARKET PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                             5837
<INVESTMENTS-AT-VALUE>                            5837
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<NUMBER-OF-SHARES-REDEEMED>                      (343)
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<NET-CHANGE-IN-ASSETS>                           (205)
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<EXPENSE-RATIO>                                    .36
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000827885
<NAME> USLICO SERIES FUND
<SERIES>
   <NUMBER> 3
   <NAME> BOND PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
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<SHARES-COMMON-PRIOR>                              269
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<APPREC-INCREASE-CURRENT>                         (48)
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<AVERAGE-NET-ASSETS>                              2761
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<PER-SHARE-GAIN-APPREC>                          (.07)
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000827885
<NAME> USLICO SERIES FUND
<SERIES>
   <NUMBER> 4
   <NAME> ASSET ALLOCATION PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
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<GROSS-EXPENSE>                                     54
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<EXPENSE-RATIO>                                    .36
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</TABLE>


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