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                                                                  EXHIBIT 10.8


                    SPLIT DOLLAR LIFE INSURANCE AGREEMENT
                         COLLATERAL ASSIGNMENT METHOD



         THIS AGREEMENT is made this 26th day of March, 1996, by and between
Harvard Industries, Inc., (the "Corporation") and Raymond A. Naimoli, as
Trustee of the Vincent J. Naimoli 1992 Insurance Trust (the "Trustee").

         WHEREAS, the Corporation has entered into an Amended and Restated
Management and Option Agreement with Anchor Industries International ("AII")
dated August 16, 1995, as further amended on January 30, 1996, (the "AII
Agreement"); and

         WHEREAS, pursuant to the AII Agreement, AII has agreed to provide the
management services and expertise of Vincent J. Naimoli (the "Executive"); and 

         WHEREAS, pursuant to Section 4(b) of the AII Agreement, the Corporation
agrees to purchase and maintain, during the term of the AII Agreement, and any
extensions thereof, a life insurance policy on the life of the Executive in the
amount of $2 million dollars, with the Corporation the beneficiary to its share
of premium contributions (total premiums paid less the economic benefit amount),
and the Trust as beneficiary of the remaining balance; and

         WHEREAS, the Executive agrees to participate in such program to the
extent hereinafter provided.

         NOW, THEREFORE, the parties named above agree as follow:

         (1)     Life Insurance Policy

                 (a)      In furtherance of the purposes of this Agreement,
                          life insurance, hereinafter referred to as the Policy,
                          has been purchased on the life of the Executive, from 
                          John Hancock Mutual Life Insurance Company, 
                          hereinafter called Insurer.  See schedule A attached 
                          hereto for particulars on the Policy and any other 
                          life insurance Policies issued in connection with this
                          Plan.

                 (b)      This Agreement is effective as to a particular Policy
                          upon execution, or upon issuance and acceptance of
                          such Policy, whichever is later.

         (2)     Ownership Rights and Duties under the Policy

                 (a)      The Trustee shall retain and may exercise all 
                          incidents and rights of ownership with respect to the
                          Policy except as otherwise hereinafter provided.

                 (b)      The Corporation shall have the right to:

                          1.      obtain policy loans or other withdrawals to 
                                  the extent of its interest in this Policy as
                                  defined in Paragraph 10 of this Agreement.
                                  This Policy may be assigned as collateral for
                                  such loans or withdrawals.  The interest due
                                  on such loans shall be a debt of the
                                  Corporation owed to the Insurer;


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                     2.     collect from the Insurer its interest in the
                            proceeds of the Policy upon the death of the
                            Insured, upon the termination of this Agreement for
                            any reason whatsoever, or upon the surrender or
                            maturity of the Policy.  Proceeds so collected shall
                            be net of any outstanding Policy loans or
                            withdrawals made to or by the Corporation.

              (c)    The Trustee shall be responsible for safeguarding the
                     Policy.

              (d)    The Parties to this Agreement shall execute and forward
                     promptly and without unreasonable delay, changes in
                     beneficiary designations, forms and documents, including
                     the Policy, as required by the Insurer, to facilitate the
                     exercise of any rights of the Parties hereto.  The Parties
                     hereto shall not be required to execute any documents or
                     take any action that would impair their own interest under
                     the Policy.

       (3)    Collateral Assignment

              Concurrently with the execution of this Agreement, the Trustee
              shall execute a Collateral Assignment of the Policy as security
              for the Corporate premium advances made to the Trustee.  Such
              Collateral Assignment shall not be inconsistent with the rights of
              the Parties under this Agreement.

       (4)    Payment of Premiums

              The Corporation shall pay the annual premium each year.  The
              Executive will be bonused an amount equal to the "economic
              benefit" of the life insurance protection enjoyed by the Executive
              each year.  The "economic benefit" as defined by the lower of the
              PS58 cost or the amount equal to the taxable term cost provided by
              the Insurer, based upon reference to IRS Rev. Ruls. 64-328 and
              66-110, or any rulings which may substitute, supersede, replace or
              amend them, governing the federal income tax consequences of split
              dollar arrangements.

       (5)    Use of Dividends

              All dividends attributable to the Policy shall be applied to
              Option U.

       (6)    Payment of Proceeds

              On the Executive's death, the Corporation shall receive Part One
              of the Policy, and the Trustee shall receive Part Two of the
              Policy.

       (7)    Definitions

              (a)    Part One is an amount payable to the Corporation equal to
                     the total premiums paid by the Corporation less the total
                     "economic benefit" as defined in Paragraph 4.

              (b)    Part Two is the amount payable to the Trustee equal to the
                     total death benefit payable less the amount calculated
                     under Part One.


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       (8)    Termination of Agreement

              This Agreement shall terminate for any of the following reasons:

              (a)    Performance of its terms following death of the Insured;

              (b)    Termination of the AII Agreement;

              (c)    A Party's submission of written notice of such intention to
                     the other party;

              (d)    Any action by one Party that would defeat or impair the
                     interest of such other Party other than death or
                     termination of employment. Such action shall include, but
                     is not limited to failure to pay premiums as agreed upon;
                     cancellation of the Policy by any Party thereto.
                     Termination of Agreement because of death, termination of
                     the AII Agreement, or termination by notice shall be 
                     effective immediately.  All other terminations shall be
                     effective 30 days from any such action.

       (10)   Repayment for Reasons Other than Death

              (a)    In all instances of termination other than death, the
                     Corporation shall certify as required by the Insurer the
                     extent of its interest in the Policy, and payment of such
                     amount shall release the Insurer from any liability to the
                     Corporation.

              (b)    Such repayment to the Corporation of the amounts owed it
                     under this Agreement shall be made from the total cash
                     values of the Policy. All parties shall execute the
                     documents necessary to facilitate such use of the total
                     cash values, regardless of any rights any party may have in
                     such total cash values.

              (c)    The amounts owed to the Corporation in the event of
                     termination other than by death shall be the lesser of the
                     cash surrender value of the Policy or the total premiums
                     paid by the Corporation less the PS58 cost.

       (11)   Disposition of Policy Upon Termination of Agreement

              The Trustee may dispose of this Policy upon termination of this
              Agreement by sale or otherwise except that no disposition of such
              Policy shall take place if the Corporation has not certified to
              the Insurer that its interest in such Policy has been satisfied or
              released.

       (12)   Amendment of Agreement

              This Agreement may be altered, amended, or modified, including the
              addition of any extra Policy provisions, by a written agreement
              signed by the Corporation and Trustee.  The law of the State of
              Florida shall govern this Agreement.  It shall be the obligation
              of the Corporation to notify the Insurer of any amendments or
              changes to this Agreement.




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       (13)   Interpretation of Agreement

              Where appropriate in this Agreement, words used in the singular
              shall include the plural and words used in the masculine shall
              include the feminine and vice versa.

       (14)   Liability of Insurer

              John Hancock Mutual Life Insurance Company is not a party to this
              Agreement.  With respect to any Policy of insurance issued
              pursuant to this Agreement, John Hancock Mutual Life Insurance
              Company shall have no liability except as set forth in the Policy.
              Such Insurer shall not be bound to inquire into or take notice of
              any of the covenants herein contained as to Policies of life
              insurance, or as to the application of the proceeds of such
              Policies.

              The Insurer shall be discharged from all liability in making
              payments of the proceeds, and in permitting rights and privileges
              under a Policy to be exercised pursuant to the provisions of the
              Policy.

       (15)   Binding Agreement

              This Agreement shall bind all parties their successors and assigns
              and any Policy beneficiary.


       IN WITNESS WHEREOF, the parties have executed this Agreement on the
day and year stated earlier.

                                          HARVARD INDUSTRIES, INC.



21-071532                            By: /s/ Richard T. Dawson
----------------------------------       ---------------------------------------
Employment Identification Number         Richard T. Dawson, Vice-President


/s/ Ruth White                            /s/ Raymond A. Naimoli
----------------------------------        --------------------------------------
Witness                                   Raymond A. Naimoli, as Trustee of the
                                          Vincent J. Naimoli 1992 Insurance
                                          Trust








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                                   SCHEDULE A


                      JOHN HANCOCK LIFE INSURANCE COMPANY


<TABLE>
<CAPTION>
    Insured            Policy Number      Face Amount         Issue Date
    -------            -------------      -----------         ----------
<S>                      <C>              <C>               <C>

Vincent J. Naimoli       85310001         $2,139,140*       January 25, 1995
</TABLE>




















* Initial Death Benefit