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): August 13, 1997


                          AMERUS LIFE HOLDINGS, INC.
              (Exact Name of Registrant as Specified in Charter)


                 IOWA               0-21459               42-1459712
           (State or Other     (Commission File         (IRS Employer
           Jurisdiction of          Number)          Identification No.)
           Incorporation)

           418 SIXTH AVENUE, DES MOINES, IOWA                 50309-2407
           (Address of Principal Executive Offices)           (Zip Code)


       Registrant's telephone number, including area code:  (515) 280-1331


                                  Not Applicable.
          (Former Name or Former Address, if Changed Since Last Report)


          ITEM 5.   OTHER EVENTS.

          ACQUISITION OF AMERUS LIFE HOLDINGS, INC.  

               On September 19, 1997, AmerUs Life Holdings, Inc.
          ("Registrant"), a wholly owned subsidiary of the
          Registrant and AmVestors Financial Corporation
          ("AmVestors") entered into an Agreement and Plan of
          Merger dated as of September 19, 1997 and as amended and
          restated as of October 8, 1997 ("AmVestors Merger
          Agreement"), providing for a merger ("AmVestors Merger")
          pursuant to which, and subject to the terms thereof,
          AmVestors would become a wholly owned subsidiary of the
          Registrant.  As of the effective time of the AmVestors
          Merger, each outstanding share of common stock of
          AmVestors, no par value ("AmVestors Common Stock"), other
          than shares held in the treasury of AmVestors and shares
          owned by the Registrant or any of its subsidiaries, shall
          be converted into the right to receive (x) if the Average
          Registrant Share Price (as defined below) is greater than
          or equal to $27.00 but less than or equal to $29.75, the
          number of shares of Series A common stock, no par value,
          of the Registrant ("Registrant Common Stock") determined
          by dividing $20.00 by the Average Registrant Share Price;
          (y) if the Average Registrant Share Price is less than
          $27.00, 0.7407 shares of Registrant Common Stock (subject
          to the termination rights described below), and (z) if
          the Average Registrant Share Price is greater than
          $29.75, 0.6724 shares of Registrant Common Stock (as
          applicable, the "AmVestors Merger Consideration").  The
          "Average Registrant Share Price" is the average of the
          last reported sales price per share of Registrant Common
          Stock quoted by The Nasdaq National Market for the twenty
          consecutive trading days ending on the tenth trading day
          prior to the date the AmVestors Merger is consummated. 
          If the Average Registrant Share Price falls below $27.00,
          the AmVestors Merger Consideration would be worth less
          than $20.00 per share and AmVestors has the right to
          terminate the AmVestors Merger Agreement unless the
          Registrant agrees to provide additional Registrant Common
          Stock valued at $20.00 per share of AmVestors Common
          Stock.  If the Average Registrant Share Price rises above
          $29.75, the AmVestors Merger Consideration would be worth
          more than $20.00 per share.  The AmVestors Merger is
          intended to qualify as a reorganization within the
          meaning of Section 368(a) of the Internal Revenue Code of
          1986, as amended.

               AmVestors' principal subsidiaries are American
          Investors Life Insurance Company ("American") and Florida
          Benefit Group, Inc. ("FBL").  Consummation of the
          AmVestors Merger is subject to satisfaction or waiver by
          the parties of certain closing conditions, including the
          receipt of regulatory approvals, approvals by the
          stockholders of the Registrant and AmVestors and other
          customary closing conditions.

               The foregoing description of the AmVestors Merger
          Agreement does not purport to be complete and is
          qualified in its entirety by reference to the AmVestors
          Merger Agreement, a copy of which is attached hereto as
          Exhibit 2.1 and is hereby incorporated by reference in
          its entirety. 

          ACQUISITION OF DELTA LIFE CORPORATION

               On August 13, 1997 the Registrant, a wholly owned
          subsidiary ("Sub") of the Registrant, and Delta Life
          Corporation ("Delta")  entered into an Agreement and Plan
          of Merger (the "Delta Merger Agreement") dated as of
          August 13, 1997, and as amended on September 5, 1997,
          pursuant to which all of the outstanding capital stock of
          Delta would be acquired for $162.9 million in cash. Under
          the Delta Merger Agreement, Sub would merge with and into
          Delta, and Delta would be the surviving corporation and
          become a wholly owned subsidiary of the Registrant's
          wholly owned subsidiary, AmerUs Life Insurance Company,
          or of AmerUs. The principal asset of Delta is its
          wholly-owned subsidiary, Delta Life and Annuity Company
          ("Delta Life"), a Tennessee domiciled life insurance
          company formed in 1955.  As of June 30, 1997, Delta had
          approximately 52,000 annuity contracts outstanding, had
          assets of $2.0 billion, had total stockholders' equity of
          $107.4 million, and had reserves of approximately $1.8
          billion. Delta Life specializes in the sale of individual
          single and flexible premium deferred annuities, primarily
          in the southeastern, western, southwestern and midwestern
          regions of the United States. Such sales are made
          primarily through a network of over 3,400 independent
          agents. Approximately 55% of Delta Life's 1996 direct
          collected premiums were derived from retirement-oriented
          tax-qualified annuities. Delta Life is licensed in the
          District of Columbia and in all states except New York. 

               Consummation of the Delta Merger is subject to
          satisfaction or waiver by the parties of certain closing
          conditions, including the receipt of regulatory
          approvals, approvals by the stockholders of the
          Registrant and Delta and other customary closing
          conditions.  It is anticipated that the Delta Merger will
          close in the fourth quarter of this year.

               The foregoing description of the Delta Merger
          Agreement does not purport to be complete and is
          qualified in its entirety by reference to the Delta
          Merger Agreement, a copy of which is attached hereto as
          Exhibit 2.2 and is hereby incorporated by reference in
          its entirety. 

          ITEM 7:   FINANCIAL STATEMENT, PRO FORMA FINANCIAL
                    INFORMATION AND EXHIBITS.

                    (a)  Not applicable.
                    (b)  Not applicable.
                    (c)  Exhibits.

          -         2.1  Agreement and Plan of Merger, dated as of
          September 19, 1997 and as amended and restated as of
          October 8, 1997, among AmerUs Life Holdings, Inc., a
          wholly owned subsidiary of AmerUs Life Holdings, Inc.and
          AmVestors Financial Corporation

                    2.2  Agreement and Plan of Merger, dated as of
          August 13, 1997 and as amended as of September 5, 1997,
          among AmerUs Life Holdings, Inc., a wholly owned
          subsidiary of AmerUs Life Holdings, Inc. and Delta Life
          Corporation



                                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.

                                   AMERUS LIFE HOLDINGS, INC.

                                   By: /s/ Roger K. Brooks
                                      ------------------------------
                                      Name:  Roger K. Brooks
                                      Title: Chairman, President and
                                             Chief Executive Officer



          Date:  October  8, 1997




          EXHIBIT INDEX

          2.1  Agreement and Plan of Merger, dated as of September
               19, 1997 and as amended and restated as of October
               8, 1997, among AmerUs Life Holdings, Inc., a wholly
               owned subsidiary of AmerUs Life Holdings, Inc. and
               AmVestors Financial Corporation

          2.2  Agreement and Plan of Merger, dated as of August 13,
               1997 and as amended as of September 5, 1997, among
               AmerUs Life Holdings, Inc., a wholly owned
               subsidiary of AmerUs Life Holdings, Inc. and Delta
               Life Corporation
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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): August 13, 1997

                          AMERUS LIFE HOLDINGS, INC.
              (Exact Name of Registrant as Specified in Charter)

                 IOWA               0-21459               42-1459712
           (State or Other     (Commission File         (IRS Employer
           Jurisdiction of          Number)          Identification No.)
           Incorporation)

           418 SIXTH AVENUE, DES MOINES, IOWA                 50309-2407
           (Address of Principal Executive Offices)           (Zip Code)

       Registrant's telephone number, including area code:  (515) 280-1331

                                  Not Applicable.
          (Former Name or Former Address, if Changed Since Last Report)

          ITEM 5.   OTHER EVENTS.

          ACQUISITION OF AMERUS LIFE HOLDINGS, INC.  

               On September 19, 1997, AmerUs Life Holdings, Inc.
          ("Registrant"), a wholly owned subsidiary of the
          Registrant and AmVestors Financial Corporation
          ("AmVestors") entered into an Agreement and Plan of
          Merger dated as of September 19, 1997 and as amended and
          restated as of October 8, 1997 ("AmVestors Merger
          Agreement"), providing for a merger ("AmVestors Merger")
          pursuant to which, and subject to the terms thereof,
          AmVestors would become a wholly owned subsidiary of the
          Registrant.  As of the effective time of the AmVestors
          Merger, each outstanding share of common stock of
          AmVestors, no par value ("AmVestors Common Stock"), other
          than shares held in the treasury of AmVestors and shares
          owned by the Registrant or any of its subsidiaries, shall
          be converted into the right to receive (x) if the Average
          Registrant Share Price (as defined below) is greater than
          or equal to $27.00 but less than or equal to $29.75, the
          number of shares of Series A common stock, no par value,
          of the Registrant ("Registrant Common Stock") determined
          by dividing $20.00 by the Average Registrant Share Price;
          (y) if the Average Registrant Share Price is less than
          $27.00, 0.7407 shares of Registrant Common Stock (subject
          to the termination rights described below), and (z) if
          the Average Registrant Share Price is greater than
          $29.75, 0.6724 shares of Registrant Common Stock (as
          applicable, the "AmVestors Merger Consideration").  The
          "Average Registrant Share Price" is the average of the
          last reported sales price per share of Registrant Common
          Stock quoted by The Nasdaq National Market for the twenty
          consecutive trading days ending on the tenth trading day
          prior to the date the AmVestors Merger is consummated. 
          If the Average Registrant Share Price falls below $27.00,
          the AmVestors Merger Consideration would be worth less
          than $20.00 per share and AmVestors has the right to
          terminate the AmVestors Merger Agreement unless the
          Registrant agrees to provide additional Registrant Common
          Stock valued at $20.00 per share of AmVestors Common
          Stock.  If the Average Registrant Share Price rises above
          $29.75, the AmVestors Merger Consideration would be worth
          more than $20.00 per share.  The AmVestors Merger is
          intended to qualify as a reorganization within the
          meaning of Section 368(a) of the Internal Revenue Code of
          1986, as amended.

               AmVestors' principal subsidiaries are American
          Investors Life Insurance Company ("American") and Florida
          Benefit Group, Inc. ("FBL").  Consummation of the
          AmVestors Merger is subject to satisfaction or waiver by
          the parties of certain closing conditions, including the
          receipt of regulatory approvals, approvals by the
          stockholders of the Registrant and AmVestors and other
          customary closing conditions.

               The foregoing description of the AmVestors Merger
          Agreement does not purport to be complete and is
          qualified in its entirety by reference to the AmVestors
          Merger Agreement, a copy of which is attached hereto as
          Exhibit 2.1 and is hereby incorporated by reference in
          its entirety. 

          ACQUISITION OF DELTA LIFE CORPORATION

               On August 13, 1997 the Registrant, a wholly owned
          subsidiary ("Sub") of the Registrant, and Delta Life
          Corporation ("Delta")  entered into an Agreement and Plan
          of Merger (the "Delta Merger Agreement") dated as of
          August 13, 1997, and as amended on September 5, 1997,
          pursuant to which all of the outstanding capital stock of
          Delta would be acquired for $162.9 million in cash. Under
          the Delta Merger Agreement, Sub would merge with and into
          Delta, and Delta would be the surviving corporation and
          become a wholly owned subsidiary of the Registrant's
          wholly owned subsidiary, AmerUs Life Insurance Company,
          or of AmerUs. The principal asset of Delta is its
          wholly-owned subsidiary, Delta Life and Annuity Company
          ("Delta Life"), a Tennessee domiciled life insurance
          company formed in 1955.  As of June 30, 1997, Delta had
          approximately 52,000 annuity contracts outstanding, had
          assets of $2.0 billion, had total stockholders' equity of
          $107.4 million, and had reserves of approximately $1.8
          billion. Delta Life specializes in the sale of individual
          single and flexible premium deferred annuities, primarily
          in the southeastern, western, southwestern and midwestern
          regions of the United States. Such sales are made
          primarily through a network of over 3,400 independent
          agents. Approximately 55% of Delta Life's 1996 direct
          collected premiums were derived from retirement-oriented
          tax-qualified annuities. Delta Life is licensed in the
          District of Columbia and in all states except New York. 

               Consummation of the Delta Merger is subject to
          satisfaction or waiver by the parties of certain closing
          conditions, including the receipt of regulatory
          approvals, approvals by the stockholders of the
          Registrant and Delta and other customary closing
          conditions.  It is anticipated that the Delta Merger will
          close in the fourth quarter of this year.

               The foregoing description of the Delta Merger
          Agreement does not purport to be complete and is
          qualified in its entirety by reference to the Delta
          Merger Agreement, a copy of which is attached hereto as
          Exhibit 2.2 and is hereby incorporated by reference in
          its entirety. 

          ITEM 7:   FINANCIAL STATEMENT, PRO FORMA FINANCIAL
                    INFORMATION AND EXHIBITS.

                    (a)  Not applicable.
                    (b)  Not applicable.
                    (c)  Exhibits.

          -         2.1  Agreement and Plan of Merger, dated as of
          September 19, 1997 and as amended and restated as of
          October 8, 1997, among AmerUs Life Holdings, Inc., a
          wholly owned subsidiary of AmerUs Life Holdings, Inc.and
          AmVestors Financial Corporation

                    2.2  Agreement and Plan of Merger, dated as of
          August 13, 1997 and as amended as of September 5, 1997,
          among AmerUs Life Holdings, Inc., a wholly owned
          subsidiary of AmerUs Life Holdings, Inc. and Delta Life
          Corporation

                                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.

                                   AMERUS LIFE HOLDINGS, INC.

                                   By: /s/ Roger K. Brooks
                                      ------------------------------
                                      Name:  Roger K. Brooks
                                      Title: Chairman, President and
                                             Chief Executive Officer

          Date:  October  8, 1997

          EXHIBIT INDEX

          2.1  Agreement and Plan of Merger, dated as of September
               19, 1997 and as amended and restated as of October
               8, 1997, among AmerUs Life Holdings, Inc., a wholly
               owned subsidiary of AmerUs Life Holdings, Inc. and
               AmVestors Financial Corporation

          2.2  Agreement and Plan of Merger, dated as of August 13,
               1997 and as amended as of September 5, 1997, among
               AmerUs Life Holdings, Inc., a wholly owned
               subsidiary of AmerUs Life Holdings, Inc. and Delta
               Life Corporation