<PAGE>   1
                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                                    FORM 10-Q


                Quarterly Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934


         For Quarter Ended March 31, 1999 Commission File Number 1-7255




                  AMERICAN HERITAGE LIFE INVESTMENT CORPORATION
             (Exact name of registrant as specified in its charter)




Florida                                                               59-1219710
(State or other jurisdiction of                                 (I.R.S. Employer
incorporation or organization)                               Identification No.)




         1776 American Heritage Life Drive, Jacksonville, Florida 32224
               (Address of principal executive offices) (Zip Code)


        Registrant's telephone number, including area code (904) 992-1776

Former name, former address and former fiscal year, if changed since last report

                                       N/A

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____



          Number of registrant's shares of common stock outstanding at
                                 April 30, 1999
                                   27,904,617


<PAGE>   2





                  AMERICAN HERITAGE LIFE INVESTMENT CORPORATION
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>

                                                                       (Unaudited)
                                                                      MARCH 31, 1999    DECEMBER 31, 1998
                                                                      --------------    -----------------
(Amounts in thousands, except share and per share amounts)
ASSETS
<S>                                                                   <C>               <C>   
Investments:
       Debt securities, available-for-sale, at fair value
         (cost of $950,271 in 1999 and $945,675 in 1998)               $   969,584           984,333
       Equity securities, available-for-sale, at fair value
         (cost of $20,621 in 1999 and $21,473 in 1998)                      33,568            35,795
       Mortgage loans on real estate                                        88,159            88,922
       Investment real estate, at cost                                         570               532
       Policy loans                                                        456,783           481,970
       Short-term investments                                                6,743             6,420
                                                                       -----------       -----------

         Total investments                                               1,555,407         1,597,972
                                                                       -----------       -----------

Cash                                                                        21,902            10,351
Agents' balances and prepaid commissions                                    33,303            33,337
Premiums receivable                                                         43,246            44,091
Accrued investment income                                                   38,175            33,889
Deferred acquisition costs and cost of business acquired                   249,245           240,554
Property and equipment, at cost, less accumulated depreciation              38,302            36,345
Reinsurance receivables                                                      9,179            11,210
Other assets                                                                51,591            47,938
                                                                       -----------       -----------

       Total assets                                                    $ 2,040,350         2,055,687
                                                                       ===========       ===========

LIABILITIES AND STOCKHOLDERS' EQUITY
Policy liabilities:
       Future policy benefits                                          $   320,147           315,866
       Policyholders' account balances                                   1,088,024         1,097,066
       Unearned premiums                                                    43,184            45,054
       Policy and contract claims                                           63,613            65,057
                                                                       -----------       -----------

         Total policy benefits                                           1,514,968         1,523,043
Notes payable to banks                                                      53,621            63,571
Deferred income taxes                                                       42,754            47,855
Other liabilities                                                           49,049            39,660
                                                                       -----------       -----------

       Total liabilities                                                 1,660,392         1,674,129
                                                                       -----------       -----------

AHLIC - obligated mandatorily redeemable preferred securities of
  subsidiaries holding solely subordinated debentures of AHLIC             103,500           103,500
                                                                       -----------       -----------

Stockholders' equity:
       Common stock of $1 par value.  Authorized 75,000,000
         shares; Issued 28,178,287 in 1999 and 28,138,886 in 1998           28,178            28,139
       Additional paid-in-capital                                           43,082            42,161
       Retained earnings                                                   202,004           194,854
       Yield enhancement, contract and issuance costs of
         mandatorily redeemable preferred securities                        (9,561)           (9,561)
       Net unrealized investment gains                                      16,795            26,514
                                                                       -----------       -----------
                                                                           280,498           282,107
       Less cost of 272,080 in 1999 and 272,715 in 1998 common
         shares in treasury                                                  4,040             4,049
                                                                       -----------       -----------

           Total stockholders' equity                                      276,458           278,058
                                                                       -----------       -----------

           Total liabilities and stockholders' equity                  $ 2,040,350         2,055,687
                                                                       ===========       ===========
</TABLE>

See accompanying notes to consolidated financial statements.



                                        1
<PAGE>   3


             AMERICAN HERITAGE LIFE INVESTMENT CORPORATION
                  Consolidated Statements of Earnings
                              (Unaudited)
<TABLE>
<CAPTION>

                                                                             FOR THE THREE MONTHS ENDED
                                                                                      MARCH 31,
                                                                        --------------------------------
                                                                           1999                   1998
                                                                           ----                   ----
(Amounts in thousands, except share and per share amounts) 
<S>                                                                   <C>                    <C> 
Income:
      Insurance revenues                                              $    76,650                 71,530
      Net investment income                                                28,322                 27,144
      Other income                                                            577                    620
      Realized investment gains, net                                          153                    112
                                                                      -----------            -----------

          Total income                                                    105,702                 99,406
                                                                      -----------            -----------

Benefits, claims and expenses:
      Benefits and claims                                                  48,422                 44,057
      Underwriting, acquisition and insurance expenses:
          Taxes, commissions and general expenses                          29,416                 30,184
          Amortization of deferred acquisition costs and
            cost of business acquired                                       9,527                  9,058
      Other operating expenses                                              3,153                  3,146
                                                                      -----------            -----------

          Total benefits, claims and expenses                              90,518                 86,445
                                                                      -----------            -----------

          Earnings before income taxes                                     15,184                 12,961

Income tax expense                                                          5,080                  4,287
                                                                      -----------            -----------

          Net earnings                                                $    10,104                  8,674
                                                                      ===========            ===========

          Net earnings per share of common stock - basic              $      0.37                   0.32
                                                                      ===========            ===========
                                                 - diluted            $      0.35                   0.31
                                                                      ===========            ===========

Dividends declared per share                                          $     0.105                  0.105
                                                                      ===========            ===========

Average number of shares outstanding - basic                           27,597,701             27,517,831
                                                                      ===========            ===========
                                     - diluted                         28,894,424             28,045,473
                                                                      ===========            ===========
</TABLE>

See accompanying notes to consolidated financial statements.







                                        2



<PAGE>   4


                  AMERICAN HERITAGE LIFE INVESTMENT CORPORATION
                 Consolidated Statements of Stockholders' Equity
                   Three Months Ended March 31, 1999 and 1998
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                               1999              1998
                                                                               ----              ----
(Amounts in thousands, except share and per share amounts)
<S>                                                                          <C>             <C> 
Common stock:
      Balance at beginning of period                                         $  28,139          14,021
      Par value of shares issued pursuant to stock split                             -          14,056
      Other shares issued, net                                                      39              39
                                                                             ---------       ---------

      Balance at end of period                                                  28,178          28,116
                                                                             ---------       ---------

Additional paid-in-capital:
      Balance at beginning of period                                            42,161          42,528
      Excess over par value on shares issued                                       921             629
      Additions(deductions) related to exercise of stock options                     -            (603)
                                                                             ---------       ---------

      Balance at end of period                                                  43,082          42,554
                                                                             ---------       ---------

Retained earnings:
      Balance at beginning of period                                           194,854         183,852
      Add: net earnings                                                         10,104           8,674
                                                                             ---------       ---------
                                                                               204,958         192,526
      Par value of shares issued pursuant to stock split                             -         (14,056)
      Deduct: cash dividends declared on common stock -
        $.105 per share in 1999 and 1998                                        (2,954)         (2,909)
                                                                             ---------       ---------

      Balance at end of period                                                 202,004         175,561
                                                                             ---------       ---------

Yield enhancement, contract and issuance costs of
      mandatorily redeemable preferred securities at the
      beginning and end of the period                                           (9,561)         (9,561)
                                                                             ---------       ---------

Accumulated other comprehensive income: Net unrealized investment gains
(losses):
      Balance at beginning of period                                            26,514          25,612
      Change during the period                                                  (9,719)          1,777
                                                                             ---------       ---------

      Balance at end of period                                                  16,795          27,389
                                                                             ---------       ---------

Treasury stock:
      Balance at beginning of period                                             4,049           4,229
      Add: treasury shares purchased (2,001 in 1998)                                 -              36
      Less: treasury shares issued/surrendered (15,668 shares
        in 1999 and 15,270 shares in 1998)                                          (9)           (226)
                                                                             ---------       ---------

      Balance at end of period                                                   4,040           4,039
                                                                             ---------       ---------

          Total stockholders' equity                                         $ 276,458         260,020
                                                                             =========       =========
</TABLE>

See accompanying notes to consolidated financial statements.

                                        3


<PAGE>   5

                  AMERICAN HERITAGE LIFE INVESTMENT CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                   THREE MONTHS ENDED MARCH 31, 1999 AND 1998
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                       1999             1998
                                                                       ----             ----
(Amounts in thousands) 
<S>                                                                  <C>               <C>    
Operating activities:
      Net earnings                                                   $ 10,104            8,674
      Adjustments to reconcile net earnings to net cash
          provided by operating activities:
          Change in agents' balance and prepaid commissions                34            3,101
          Change in premiums receivable                                   844           (2,136)
          Change in accrued investment income                          (4,286)          (5,247)
          Change in reinsurance receivables                             2,031             (490)
          Amortization of deferred acquisition costs and cost
            of business acquired                                        9,527            9,058
          Acquisition costs deferred                                  (13,329)         (11,981)
          Change in future policy benefits                              4,281            3,693
          Change in policyholders' account balances                    (9,042)           9,499
          Change in unearned premiums                                  (1,870)          (7,300)
          Change in policy and contract claims                         (1,443)           1,412
          Change in income taxes                                        4,202            3,044
          Provision for depreciation and amortization                   1,159              626
          Change in unearned investment income                            (94)            (111)
          Other, net                                                   (8,622)          (1,715)
                                                                     --------         --------

          Net cash provided (used) by operating activities             (6,504)          10,127
                                                                     --------         --------

Investing activities:
      Sales of debt securities                                          8,356              351
      Maturities of debt securities                                    31,061           19,905
      Sales (purchases) of short-term investments, net                   (324)          25,200
      Sales of equity securities                                          545              195
      Maturities of mortgage loans on real estate                       1,648              684
      Policy loans paid                                                35,497            7,050
      Purchases of debt securities                                    (43,801)         (44,039)
      Origination of mortgage loans on real estate                       (882)          (8,570)
      Policy loans made                                               (10,309)         (10,026)
      Purchases and additions of property and equipment and                --               --
          investment real estate                                       (2,890)          (1,020)
      Other, net                                                       11,027           (1,424)
                                                                     --------         --------

          Net cash provided (used) by investing activities             29,928          (11,694)
                                                                     --------         --------

Financing activities:
      Change in notes payable to banks, net                            (9,950)           5,220
      Dividends to stockholders                                        (2,955)          (2,909)
      Other, net                                                        1,032              511
                                                                     --------         --------

          Net cash provided (used) by financing activities            (11,873)           2,822
                                                                     --------         --------

Increase (decrease) in cash                                            11,551            1,255
Cash, beginning of period                                              10,351           23,261
                                                                     --------         --------

Cash, end of period                                                  $ 21,902           24,516
                                                                     ========         ========
</TABLE>

                                        4


<PAGE>   6


                  AMERICAN HERITAGE LIFE INVESTMENT CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 1999
                                   (Unaudited)



(1)   In the opinion of management, the accompanying consolidated financial
      statements, which are unaudited, include all adjustments necessary to
      present fairly the consolidated results of operations and financial
      position of the Company for the periods indicated. However, certain
      information and note disclosures normally included in financial statements
      prepared in accordance with generally accepted accounting principles have
      been omitted. It is suggested that these consolidated financial statements
      be read in conjunction with the consolidated financial statements,
      schedules and notes thereto included in the Company's Form 10-K for the
      year ended December 31, 1998.

(2)   The financial statements of the Company's life insurance operations,
      primarily the operations of American Heritage Life Insurance Company (AHL)
      and Columbia Universal Life Insurance Company (CUL), have been included in
      the consolidated financial statements on the basis of generally accepted
      accounting principles.

(3)   Earnings per share of common stock were based on the weighted average
      number of shares outstanding during each period, excluding treasury
      shares.

(4)   Current accrued income taxes were included in other liabilities in the
      amount of $3,593,000 at March 31, 1999 and $400,000 at December 31,
      1998, in the accompanying consolidated balance sheets.

(5)   Segment information for the three months ended March 31, 1999 
      (amounts in thousands):

<TABLE>
<CAPTION>

                                            Total income         Pre-tax Operating Earnings
                                            ------------         --------------------------
            <S>                              <C>                    <C>
            Ordinary                         $   76,861                    $ 13,053
            Group                                12,686                       1,999
            Credit                               16,021                       1,723
            Other                                   424                      (2,375)
            Realized investment gains               153                           -
            Intercompany eliminations              (443)                        630
                                             ----------                    --------   
                    Total income             $  105,702                    $ 15,030
                                             ----------                    --------  
</TABLE>


      Industry segment assets at March 31, 1999 and 1998 were consistent with
      the amounts reported in the Industry Segment Information disclosure made
      in the 1998 Annual Report to Shareholders.

(6)   The Company's insurance subsidiaries, like other insurance companies, are
      currently defendants in lawsuits that involve claims for punitive,
      exemplary or other extracontractual damages, which are for amounts
      substantially in excess of the actual damages sought. Management considers
      such litigation regrettably to be of the type to which insurance companies
      are usually and customarily subjected to in the ordinary course of
      business and to date the settlements of such claims of this nature have
      not been material to the financial position of the Company. In the opinion
      of management, based on the currently ascertained facts of the pending
      litigation, which the Company intends to vigorously defend, the ultimate
      resolution of such litigation should not be material to the financial
      position of the Company.


                                       5

<PAGE>   7


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                     PERIOD ENDED MARCH 31, 1999 COMPARED TO
                          PERIODS ENDED MARCH 31, 1998


RESULTS OF OPERATIONS

American Heritage Life Investment Corporation (AHLIC) and subsidiaries (the
"Company") are engaged primarily in the life insurance business. The Company's
consolidated earnings are primarily attributable to its principal insurance
subsidiaries, American Heritage Life Insurance Company (AHL) and Columbia
Universal Life Insurance Company (CUL). Significant changes in the components of
the consolidated results of operations for the comparative periods are presented
below.

Insurance revenues pursuant to generally accepted accounting principles (GAAP)
include only the mortality, expense, and surrender charges for
interest-sensitive products. Insurance revenues do not include group and credit
premium equivalents and cash deposits from interest-sensitive products.
Insurance revenues for the three months ended March 31, 1999 were $76.7 million,
an increase of 7.2% from the $71.5 million for the same period in 1998. This
increase was due primarily to an increase in interest-sensitive policy charges,
cancer, individual accident and health and group insurance revenues, partially
offset by a decrease in credit insurance revenues.

Because increasing amounts of the ordinary life business are interest-sensitive,
the group business being sold predominately on a self-funded or split-funded
basis and the credit business being written on a reinsured or an administrative
services only basis, in which only the fees charged are included in insurance
revenues for GAAP purposes, it is important to evaluate insurance revenues
including premium equivalents. Including premium equivalents of $88.8 million
and $72.8 million for the three months ended March 31, 1999 and 1998,
respectively, insurance revenues, including premium equivalents, were $165.5
million and $144.3 million, respectively, up 14.7% in 1999. Ordinary insurance
revenues including premium equivalents were up due in part to an increase in
individual accident and health, cancer, group revenues and annuity revenues and
premium equivalents. The increase was partially offset by a decrease in credit
insurance revenues and premium equivalents which were down due primarily to a
decrease in credit reinsurance and administrative services only business.

For the three months ended March 31, 1999, net investment income was $28.3
million, an increase of 4.3% over the $27.1 million reported for the same period
in 1998. This increase in net investment income for the three months ended March
31, 1999 compared to the same period in 1998 was due primarily to an increase in
invested assets. The increases were partially offset by a decrease in Management
Security Plan (MSP) policy loan interest due to a decrease in the average rate
charged (6.89% in 1999 versus 7.56% in 1998) on decreased policy loan balances
(see page 8 for discussion regarding MSP loans.)

The effective yield on invested assets for the three months ended March 31, 1999
was 7.23% compared to 7.34% for the same period in 1998. Excluding MSP policy
loans, the effective yield was 7.34% for the three months ended March 31, 1999
and 7.27% for the same period in 1998.

Benefits and claims were $48.4 million for the three months ended March 31,
1999, up 9.9% from the $44.1 million for the same period in 1998. The increase
for the three months ended March 31, 1999 versus 1998 was due primarily to
growth in insurance business and slightly increased morbidity expenses.

Taxes, commissions, and general expenses aggregated $29.4 million for the first
three months of 1999 versus $30.2 million for the first three months of 1998, or
a decrease of 2.6%. The decrease was a result of a decrease in credit earned
commissions due to decreased insurance revenues, partially offset by increases
in general insurance expenses, due primarily to increases in expenses associated
with new production, regional expansion and technology.


                                       6
<PAGE>   8



                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                     PERIOD ENDED MARCH 31, 1999 COMPARED TO
                          PERIODS ENDED MARCH 31, 1998


RESULTS OF OPERATIONS (CONTINUED)


Pursuant to GAAP, the initial costs directly associated with selling,
underwriting, and processing traditional ordinary insurance products are
deferred and amortized over the premium-paying period of the related policies.
For interest-sensitive products, these costs are amortized over the lives of the
policies in relation to the present value of estimated gross profits from
surrender charges and investment, mortality, and expense margins. These costs
increase as the amount of sales and insurance in force increase. The charge to
earnings for acquisition costs of ordinary insurance is comprised of: (1) the
amortization of costs for policies which remain in force; (2) the write-off of
unamortized costs related to policies which are terminated; and (3) the
amortization of the cost of business acquired. For the three months ended March
31, 1999, the amortization of deferred acquisition costs was $9.5 million
compared to $9.1 million for the comparable period in 1998, or an increase of
5.2%. This increase in amortization expense was primarily due to increased
amortization from the growth of business in force.

For the three months ended March 31, 1999, other operating expenses were $3.2
million compared to $3.1 million for the same period in 1998, an increase of
 .3%, primarily due to an increase in interest expense.

Income taxes increased 18.5% for the three months ended March 31, 1999 from the
same period in 1998, primarily as a result of an increase in net earnings and a
higher effective tax rate. For the three months ended March 31, 1999 and 1998,
the effective tax rate was 33.5% and 33.1%, respectively.

LIQUIDITY AND CAPITAL RESOURCES

The Company is engaged primarily in the life insurance business. The principal
subsidiaries, AHL and CUL, generate major sources of cash flow from premiums
collected for traditional insurance products, deposits, and policy charges for
interest-sensitive products and investment income attributable to its life
insurance operations and associated investment portfolio. This results in a
significant portion of the Company's assets being liquid. Such assets are made
up of cash, short-term investments, and readily marketable securities.

As an insurer, the Company is required to maintain substantial liabilities for
future policy benefits and policyholders' account balances. Since premiums and
deposits received in anticipation of such benefits are investable funds, it is
expected that the Company will continue to increase its investment portfolio
using cash flow from operations.

The decrease in net cash provided by operating activities for the three months
ended March 31, 1999, compared to the same period in 1998, was due primarily to
a decrease in policyholder account balances as a result of funding surrenders of
certain ordinary life policies in 1999.

The increase in net cash provided by investing activities for the three months
ended March 31, 1999 versus the same period in 1998 was due primarily to an
increase in policy loans paid as a result of surrenders of certain ordinary life
policies during the first quarter of 1999.

The increase in net cash used by financing activities for the three months ended
March 31, 1999, compared to the same period in 1998, was due to the net payoff
of $10.0 million of debt in the first quarter of 1999 versus a net increase in
debt of $5.2 million in the first quarter of 1998.


                                       7

<PAGE>   9


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                     PERIOD ENDED MARCH 31, 1999 COMPARED TO
                           PERIOD ENDED MARCH 31, 1998


LIQUIDITY AND CAPITAL RESOURCES (CONTINUED)

The Company's policy loans are a higher percentage of invested and total assets
than industry norm as a result of a significant block of Management Security
Plan (MSP) business. The MSP product is an interest-sensitive, deferred
compensation/executive benefit-type product with the policy loan feature being
an integral part of the product. A market rate of interest is charged on the
policy loans, and a predetermined built-in spread is achieved between the
interest rate charged on the policy loans and the interest rate credited on the
loaned funds. Accordingly, all MSP policy loans are completely collateralized by
the underlying policyholders' account balances. Policy loans are generally
funded out of cash provided by operating activities and do not represent a
significant restriction on the Company's liquidity.

At March 31, 1999, the fair value of the Company's debt and equity security
portfolio aggregated $1,003.2 million compared with an amortized cost of $970.9
million, or an unrealized gain of $32.3 million. At December 31, 1998, the fair
value of the portfolio aggregated $1,020.1 million compared with an amortized
cost of $967.1 million, or an unrealized gain of $53.0 million. This change in
the unrealized gain was primarily due to changes in market conditions. With
respect to the Company's exposure to market risks, see management's comments in
the 1998 Form 10-K.

The Company's amortized cost of high-yield bonds (rated below BBB by Standard &
Poor's Corporation and excluding non-rated and private placements) at March 31,
1999 aggregated $51.6 million with a market value of $49.8 million. At market
value, these investments represented 2.4% of total assets, or 3.2% of total
invested assets. Such holdings were not material to invested assets nor is it
expected that any subsequent gains or losses on these securities would be
material to the operations of the Company.

AHLIC is a holding company, and its liquidity is largely dependent on the
ability of its subsidiaries, primarily AHL, to pay dividends and on external
financings. As a result, AHLIC borrows on an interim basis through lines of
credit with its major banks to cover any short-term cash requirements which may
occur. The decrease in bank debt at March 31, 1999, compared to the amount at
December 31, 1998, reflected the payoff of debt in January, 1999. At March 31,
1999, the debt to total capital (excluding unrealized investment gains) ratio
was 12.9%.

Year 2000:

The Company has in place a Year 2000 compliance plan which includes updates and
revisions to existing software, as well as the installation of new or
replacement software. The Company's Year 2000 compliance plan began with a
detailed assessment of systems starting in the fall of 1996. It followed with a
disciplined plan of remediation, replacement and upgrading that will result in
Year 2000 compliant software being in place in substantially all areas of the
business enterprise by the end of the second quarter of 1999, and full Year 2000
compliance well before the end of the year. Included in the plan are several
system projects not specifically undertaken to remediate Year 2000 compliance
issues, but which, as a result, will ensure Year 2000 compliance in those areas.
As of the end of the first quarter of 1999, the Company has installed or
upgraded Year 2000 compliant systems supporting approximately 90% of the
Company's business.

The plan also called for a complete and ongoing assessment of the status and
progress of customers, vendors and corporate service partners in achieving Year
2000 compliance. For the most part, failure of any one or a group of customers
or vendors to be Year 2000 compliant will have little or no effect on the
ability of the Company to process business and serve its customers. In the
unlikely event the Company fails to complete those portions of its Year 2000
compliance plan not already substantially done, its ability to electronically
adjudicate claims would be negatively impacted. However, the Company has in
place a proven manual claims adjudication systems that would be utilized in such
an unlikely event, and the incremental cost incurred would not be material.


                                       8

<PAGE>   10


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                     PERIOD ENDED MARCH 31, 1999 COMPARED TO
                          PERIODS ENDED MARCH 31, 1998


LIQUIDITY AND CAPITAL RESOURCES (CONTINUED)


The direct and indirect cost of achieving Year 2000 compliance, including all
remediation, replacement and upgrading of non-compliant systems over the three
years preceding the turn of the century is expected to be approximately $8.3
million. Most of such cost will be capitalized and amortized over the reasonable
useful lives of the new software systems put in place, as they relate primarily
to upgrading or replacing systems for business reasons other than Year 2000
remediation. Costs expensed in 1997, 1998 and 1999 are immaterial to the overall
financial statements of the Company.

The foregoing discussion contains forward-looking statements together with
related data and projections about the Company's projected financial results and
its future plans and strategies. However, actual results and needs of the
Company may vary materially from forward-looking statements and projections made
from time to time by the Company on the basis of management's then current
expectations. See Item 7, "Management's Discussion and Analysis of Financial
Condition and Results of Operations -- Forward-Looking Information" in the
Company's Annual Report on Form 10-K for the fiscal year ended December 31,
1998.


                                       9

<PAGE>   11




                           PART II - OTHER INFORMATION


Item 1.     Legal Proceedings

            The Company's insurance subsidiaries, like other insurance
            companies, are currently defendants in lawsuits that involve claims
            for punitive, exemplary, or other extracontractual damages, which
            are for amounts substantially in excess of the actual damages
            sought. Management considers such litigation, regrettably, to be of
            the type to which insurance companies are usually and customarily
            subjected to in the ordinary course of business and, to date, the
            settlement of such claims of this nature have not been material to
            the financial position of the Company. In the opinion of management,
            based on the currently ascertained facts of the pending litigation,
            which the Company intends to vigorously defend, the ultimate
            resolution of such litigation should not be material to the
            financial position of the Company.


Item 6.     Exhibits and Reports on Form 8-K.

            (a)     Exhibits

                    27 Financial Data Schedule (for SEC purposes only)

            (b)     None



                                       10

<PAGE>   12


                           PART II - OTHER INFORMATION


                                   SIGNATURES


Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto authorized.


                  AMERICAN HERITAGE LIFE INVESTMENT CORPORATION
                                  (REGISTRANT)



Date       May 13, 1999           /s/ Elizabeth A. Mahin
           ------------           ----------------------------------------------
                                  Elizabeth A. Mahin
                                  Senior Vice President and Chief 
                                  Accounting Officer
                                  (Principal Accounting Officer)




Date       May 13, 1999           /s/ John K. Anderson, Jr.
           ------------           ----------------------------------------------
                                  John K. Anderson, Jr.
                                  Executive Vice President, Treasurer and 
                                  Chief Financial Officer
                                  (Principal Financial Officer)




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