GREAT AMERICAN INVESTMENT NETWORK INC
10-Q/A, 1996-11-15
LIFE INSURANCE
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November  8, 1996

Securities and Exchange Commission
450 Fifth Street, NW.
Washington, D.C.  20549

Re:  American Investment Network, Inc.
       (formerly Great American Investment Network, Inc.) - Form
10-QSB

Gentlemen:

Please accept for filing the Form 10-QSB of the above referenced
registrant for the period September 30, 1996.

Sincerely,



H. Harold Crumpler
Vice President/Treasurer

HHC:ll




                                 
                                 
                            FORM 10-QSB

                SECURITIES AND EXCHANGE COMMISSION
                      WASHINGTON, D.C.  20549
                                 

         QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
              OF THE SECURITIES EXCHANGE ACT OF 1934


For The Quarterly Period Ended:              September 30, 1996

Commission File Number:                 0-21572

                                 
                 AMERICAN INVESTMENT NETWORK, INC.
         (formerly Great American Investment Network, Inc.
      (Exact name of registrant as specified in its charter)

     Mississippi                                  74-2447294
(State or other jurisdiction of incorporation
(I.R.S. Employer
or organization)                                  Identification
No.)

   660 Lakeland East Drive, Flowood, Mississippi            39208
(Address of principal executive offices)                    (Zip
Code)

   (601) 936-2090
Registrant's telephone number, including area code

          NOT APPLICABLE
Former name, former address and former fiscal year, if changed
since last report

Indicate  by check mark whether the registrant (1) has  filed  all
reports  required  to be filed by Section 13  or  15  (d)  of  the
Securities Exchange Act of 1934 during the preceding 12 months (or
for  such shorter period that the registrant was required to  file
such reports) and (2) has been subject to such filing requirements
for the past 90 days.

Yes  X          No

As of September 30, 1996, there were outstanding 5,021,764 shares
of registrant's Class A common stock, no par value per share and
2,500 shares of Class B common stock, par value $1 per share.


                            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 thereunto duly authorized.



                       AMERICAN INVESTMENT NETWORK, INC.
                       (Registrant)


 November 8, 1996      /s/ H. Harold Crumpler
                         H.   Harold   Crumpler,   Executive   Vice
President/Treasurer



                            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 thereunto duly authorized.



                       AMERICAN INVESTMENT NETWORK, INC.
                       (Registrant)



 Date                  H. Harold Crumpler, Executive Vice
President/Treasurer




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<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               SEP-30-1996
<DEBT-HELD-FOR-SALE>                         2,817,072
<DEBT-CARRYING-VALUE>                        2,814,973
<DEBT-MARKET-VALUE>                          2,772,845
<EQUITIES>                                     965,888
<MORTGAGE>                                           0
<REAL-ESTATE>                                  455,105
<TOTAL-INVEST>                               3,738,733
<CASH>                                         126,948
<RECOVER-REINSURE>                              37,888
<DEFERRED-ACQUISITION>                       2,324,953
<TOTAL-ASSETS>                               7,573,028
<POLICY-LOSSES>                              2,458,315
<UNEARNED-PREMIUMS>                             89,213
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                          839,535
<NOTES-PAYABLE>                                513,969
                                0
                                          0
<COMMON>                                             0
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                 7,573,028
                                   2,043,005
<INVESTMENT-INCOME>                            216,458
<INVESTMENT-GAINS>                                   0
<OTHER-INCOME>                                   44299
<BENEFITS>                                   1,029,463
<UNDERWRITING-AMORTIZATION>                    390,104
<UNDERWRITING-OTHER>                                 0
<INCOME-PRETAX>                              (166,447)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          (166,447)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (166,447)
<EPS-PRIMARY>                                    (.03)
<EPS-DILUTED>                                    (.03)
<RESERVE-OPEN>                                 140,777
<PROVISION-CURRENT>                            564,465
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                             403,233
<PAYMENTS-PRIOR>                               105,528
<RESERVE-CLOSE>                                196,481
<CUMULATIVE-DEFICIENCY>                              0
        

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