UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
WENDELL P. CROSSER
701 5th Ave
Des Moines, IA 50391-2003
2. Issuer Name and Ticker or Trading Symbol
ALLIED Life Financial Corporation (ALFC)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
06/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Vice President & Treasurer
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 03/01/97 F V 74.0000 D $19.6250 D Direct
Common Stock 06/17/97 M 313.0000 A $12.8750 D Direct
Common Stock 06/17/97 M (1) 88.0000 A $12.8750 D Direct
Common Stock 06/17/97 D 88.0000 D $19.0000 D Direct
Common Stock 06/17/97 M 313.0000 A $12.8750 D Direct
Common Stock 06/17/97 S 313.0000 D $19.0000 10,070.6229 D Direct
<CAPTION>
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right $12.8750 06/17/97 M 313.0000 03/31/04
to buy)
Non-Qualified Stock Option $12.8750 06/17/97 M 313.0000 03/31/04
(right to buy)
Non-Qualified Stock Option $18.0000 03/21/97 A V 7,500.0000 03/21/00 03/21/07
(right to buy)
SAR $12.8750 06/17/97 M (1) 88.0000 03/31/99 03/31/04
<CAPTION>
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right 06/17/97 Common Stock 313.0000 625.0000 D Direct
to buy)
Non-Qualified Stock Option 06/17/97 Common Stock 313.0000 625.0000 D Direct
(right to buy)
Non-Qualified Stock Option 03/21/97 Common Stock 7,500.0000 7,500.0000 D Direct
(right to buy)
SAR 06/17/97 Common Stock 88.0000 175.0000 D Direct
<FN>
Explanation of Responses:
(1)
Exercise of SAR for cash.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ WENDELL P. CROSSER
DATE
