<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM C.M. LIFE'S
SEPTEMBER 30, 1996 FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.<F1>
</LEGEND>
<CIK> 0000883232
<NAME> C.M. LIFE INSURANCE COMPANY
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<DEBT-HELD-FOR-SALE>                           742,924
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                      54,727
<MORTGAGE>                                      32,068
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                                 959,247
<CASH>                                         100,078
<RECOVER-REINSURE>                                 495
<DEFERRED-ACQUISITION>                               0
<TOTAL-ASSETS>                               1,778,263
<POLICY-LOSSES>                                890,046
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                   2,290
<POLICY-HOLDER-FUNDS>                          757,040
<NOTES-PAYABLE>                                      0
<COMMON>                                         2,500
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     114,878
<TOTAL-LIABILITY-AND-EQUITY>                 1,778,263
<PREMIUMS>                                     238,305
<INVESTMENT-INCOME>                             54,686
<INVESTMENT-GAINS>                                 846
<OTHER-INCOME>                                       6
<BENEFITS>                                     239,611
<UNDERWRITING-AMORTIZATION>                          0
<UNDERWRITING-OTHER>                            44,011
<INCOME-PRETAX>                                 10,215
<INCOME-TAX>                                     5,561
<INCOME-CONTINUING>                              4,654
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,654
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0
<FN>
<F1> C.M. LIFE'S FINANCIAL STATEMENTS HAVE BEEN PREPARED IN CONFORMITY WITH
     ACCOUNTING PRACTICES AND PROCEDURES OF THE NATIONAL ASSOCIATION OF
     INSURANCE COMMISSIONERS AS PRESCRIBED OR PERMITTED BY THE INSURANCE
     DEPARTMENT OF THE STATE OF CONNECTICUT, UNDER THESE ACCOUNTING PRACTICES,
     FIXED MATURITIES ELIGIBLE FOR AMORTIZATION ARE REPORTED AT AMORTIZED COST.
</FN>
        

</TABLE>