`SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549

                                   FORM 10-QSB

              [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE
            SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD
                            ENDED SEPTEMBER 30, 2002

                                       OR

               [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF
  THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD______ to ______

                          Commission file Number 0-2347

                       UNIVERSAL LIFE HOLDING CORPORATION
        (Exact name of small business issuer as specified in its charter)

              Illinois                                     37-0859747
              --------                                     ----------
   (State or other jurisdiction of                      (I.R.S. Employer
    incorporation or organization)                   Identification Number)

                       P.O. Box 340, Olney, Maryland 20830
               (Address of principal executive offices) (Zip Code)

                                 (301) 774-6913
                           (Issuer's telephone number)

Indicate by check whether the issuer (1) filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the past 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

(Applicable only to corporate issuers) State the number of shares outstanding of
each of the issuer's classes of common equity, as of the latest practical date.

       Number of shares of Common Stock outstanding as of August 31, 2001:

                        Class A Common Stock - 2,354,047

Transitional Small Business Format
(Check one):
Yes...[ ]   No...[X]

PART I FINANCIAL INFORMATION

Item 1. Financial Statements

     Financial statements for the quarterly period ended September 30, 2002
are included as Appendix A hereto.

Item 2. Management's Plan of Operation

               CAUTIONARY STATEMENT IDENTIFYING IMPORTANT FACTORS
                THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS TO
            DIFFER FROM THOSE PROJECTED IN FORWARD LOOKING STATEMENTS

     In connection with the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, readers of this document and any document
incorporated by reference herein, are advised that this document and documents
incorporated by reference into this document contain both statements of
historical facts and forward looking statements. Forward looking statements are
subject to certain risks and uncertainties, which could cause actual results to
differ materially for those indicated by the forward looking statements.
Examples of forward looking statements include, but are not limited to (i)
projections of revenues, income or loss, earning or loss per share, capital
expenditures, dividends, capital structure and other financial items, (ii)
statements of the plans and objectives of Universal Life Holding Corporation
(the "Company") or its management or Board of Directors, including the
introduction of new products, or estimates or predictions of actions by
customers, suppliers, competitors or regulatory authorities, (iii) statements of
future economic performance, and (iv) statements of assumptions underlying other
statements and statements about the Company or its business.

     This document and any documents incorporated by reference herein also
identify important factors which could cause actual results to differ materially
from those indicated by forward looking statements. These risks and
uncertainties include price competition, the decisions of customers, the actions
of competitors, the effects of government regulation, possible delays in the
introduction of new products and services, customer acceptance of products and
services, the Company's ability to secure debt and/or equity financing on
reasonable terms, and other factors which are described herein and/or in
documents incorporated by reference herein.

     The cautionary statements made pursuant to the Private Litigation
Securities Reform Act of 1995 above and elsewhere by the Company should not be
construed as exhaustive or as any admission regarding the adequacy of
disclosures made by the Company prior to the effective date of such Act. Forward
looking statements are beyond the ability of the Company to control and in many
cases the Company cannot predict what factors would cause results to differ
materially from those indicated by the forward looking statements.

     The Company was not, as of September 30, 2002 or as of the date of the
filing of this report, an operating business. For a discussion of the previous
operating businesses of the Company, the reader is referred to the Company's
previously filed Form 10-K for the period ended December 31, 1994 and Form 10-Q
for the period ended September 30, 1995.

     On May 25, 1995, the Company adopted a plan of liquidation in order to
provide an accounting presentation consistent with the inactive operating status
of the Company. The Company intends that this plan will remain in effect,
pending completion of its plan to reorganize the Company through a merger or
other acquisition involving a private operating company. The Company is actively
seeking candidates for such a merger or other acquisition. In the meantime, the
Company plans to continue to maintain its corporate formalities and regulatory
compliance with state and federal agencies, with the minimum funding necessary
to do so to be made available from principals and/or shareholders of the Company
or third parties.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

     There are no legal proceedings pending against the Company.

Item 2. Changes in Securities and Use of Proceeds

     There were no events to report under this item during the quarterly period
ended September 30, 2002.

Item 3. Defaults Upon Senior Securities

     There were not defaults upon senior securities during the quarterly period
ended September 30, 2002.

Item 4. Submission of Matters to a Vote of Security Holders

     There were no matters submitted to a vote of security holders during the
quarterly period ended September 30, 2002.

Item 5. Other Information

     Not applicable.

Item 6. Exhibits


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Company and in
the capacities and on the date indicated.

Date: November 19, 2002                    By:  /s/ Frederic S. Richardson
                                              --------------------------
Frederic Richardson, President
and Director
(Principal Financial and Accounting
Officer)


Date: November 19, 2002                    By:  /s/ Max Apple
                                              ----------------
Max Apple
Secretary and Director







                                   APPENDIX A

                         Unaudited Financial Statements

                      UNIVERSAL LIFE HOLDING CORPORATION
           Statement of Net Assets in Liquidation as of September 30, 2002
 Statement of Changes in Net Assets in Liquidation for the Period Then Ended


                       UNIVERSAL LIFE HOLDING CORPORATION
                STATEMENT OF NET ASSETS AVAILABLE FOR LIQUIDATION
                            As of September 30, 2002
                                   (Unaudited)




ASSETS                                                             $         0
                                                                   ============


LIABILITIES AND STOCKHOLDERS' DEFICIT

LIABILITIES                                                        $         0

STOCKHLDERS' DEFICIT
    Common Stock
       Class A, $.50 par value, 6,000,000 shares
       authorized, 2,354,047 issued or outstanding                   1,177,024
       Class B, $.002 par value, 6,000,000 shares
       authorized, none issued and outstanding
    Retained deficit                                                (1,177,024)
                                                                   ------------
       Total Capital Deficit                                                 0
                                                                   ------------
       TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                 $         0
                                                                   ============












                       UNIVERSAL LIFE HOLDING CORPORATION
                STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
                  For the Nine Months Ended September 30, 2002
                                   (Unaudited)




Net assets, January 1, 2002                                        $   (68,490)

Adjustments of estimated values                                         68,490
                                                                   ------------
Net assets, September 30, 2002                                     $         0
                                                                   ============








                       UNIVERSAL LIFE HOLDING CORPORATION
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 1 - BASIS OF PRESENTATION

The accompanying unaudited interim financial statements of Universal Life
Holding Corporation ("Universal Life") have been prepared in accordance with
accounting principles generally accepted in the United States of America and the
rules of the Securities and Exchange Commission ("SEC"), and should be read in
conjunction with the audited financial statements and notes thereto contained in
Universal Life's Annual Report filed with the SEC on Form 10-KSB. In the opinion
of management, all adjustments, consisting of normal recurring adjustments,
necessary for a fair presentation of financial position and the results of
operations for the interim periods presented have been reflected herein. The
results of operations for interim are not necessarily indicative of the results
to be expected for the full year. Notes to the financial statements which would
substantially duplicate the disclosure contained in the audited financial
statements for 2001 as reported in the 10-KSB have been omitted.


NOTE 2 - ADJUSTMENTS TO ESTIMATED VALUES

Effective September 30, 2002, all of the debts owed to the majority shareholder
totaling $68,490 were reclassified to additional paid in capital.`