SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C.

                                    FORM 10-Q

             QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934




For Quarter Ended March 31, 2002             Commission File Number: 0-9341
--------------------------------             ------------------------------




                     SECURITY NATIONAL FINANCIAL CORPORATION
                            Exact Name of Registrant.




           UTAH                                             87-0345941
       -------------                                    -----------------
(State or other jurisdiction                         IRS Identification Number
of incorporation or organization)



5300 South 360 West, Salt Lake City, Utah                     84123
-----------------------------------------                    ------
(Address of principal executive offices)                   (Zip Code)




Registrant's telephone number, including Area Code     (801) 264-1060
                                                       --------------




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  XX         NO
                                  ----


Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.



Class A Common Stock, $2.00 par value                   4,068,904
-------------------------------------      ----------------------------------
         Title of Class                    Number of Shares Outstanding as of
                                                  March 31, 2002


Class C Common Stock, $.20 par value                    6,044,807
------------------------------------       ----------------------------------
         Title of Class                    Number of Shares Outstanding as of
                                                  March 31, 2002


<PAGE>



            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
                                    FORM 10Q

                          QUARTER ENDED MARCH 31, 2002

                                TABLE OF CONTENTS


                         PART I - FINANCIAL INFORMATION



Item 1 Financial Statements                            Page No.
------                                                 --------

         Consolidated Statement of Earnings -
         Three months ended March 31, 2002 and
         2001 (unaudited).........................................3

         Consolidated Balance Sheet - March 31, 2002
         (unaudited) and December 31, 2001 .......................4-5

         Consolidated Statement of Cash Flows -
         Three months ended March 31, 2002 and 2001
         (unaudited)..............................................6

         Notes to Consolidated Financial Statements...............7-9


Item 2      Management's Discussion and Analysis..................10-13
------

Item 3      Quantitative and Qualitative Disclosure of
------      Market Risk...........................................13


                           PART II - OTHER INFORMATION

            Other Information.....................................13-14

            Signature Page........................................15

                                        2

<PAGE>



                     SECURITY NATIONAL FINANCIAL CORPORATION
                                AND SUBSIDIARIES
                       CONSOLIDATED STATEMENT OF EARNINGS
                                   (Unaudited)

                                                   Three Months Ended March 31,
Revenues:                                             2002               2001
--------                                              ----               ----
Insurance premiums and
   other considerations                            $3,322,756        $3,481,137
Net investment income                               2,923,765         3,149,433
Net mortuary and cemetery sales                     2,728,263         2,460,065
Realized gains on investments
   and other assets                                   719,417             4,097
Mortgage fee income                                 9,865,991         8,620,708
Other                                                  41,347            31,324
                                                 ------------      ------------
   Total revenues                                  19,601,539        17,746,764

Benefits and expenses:
---------------------
Death benefits                                      1,668,670         1,504,909
Surrenders and other policy benefits                  629,911           296,599
Increase in future policy benefits                    747,186         1,294,544
Amortization of deferred policy
   acquisition costs and cost of
   insurance acquired                                 834,527         1,077,737
General and administrative expenses:
   Commissions                                      7,031,093         6,451,535
   Salaries                                         2,608,950         2,036,663
   Other                                            3,311,341         3,032,981
Interest expense                                      322,353           707,553
Cost of goods and services sold
  of the mortuaries and cemeteries                    600,325           633,597
                                                 ------------      ------------
   Total benefits and expenses                     17,754,356        17,036,118

Earnings before income taxes                        1,847,183           710,646
Income tax expense                                   (456,372)         (190,156)
Minority interest (income)
   loss of subsidiary                                 (10,950)            8,503
                                                 ------------      ------------

      Net earnings                                 $1,379,861          $528,993
                                                 ============      ============

Net earnings per common share                           $0.30             $0.12
                                                 ============      ============
   Weighted average outstanding
      common shares                                 4,673,385         4,450,839
                                                 ============      ============

Net earnings per common
   share-assuming dilution                              $0.30             $0.12
                                                 ============      ============

   Weighted average outstanding
      common shares assuming-dilution               4,674,697         4,451,094
                                                 ============      ============

See accompanying notes to consolidated financial statements.

                                        3

<PAGE>



                     SECURITY NATIONAL FINANCIAL CORPORATION
                                AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEET


                                                March 31, 2002     December 31,
                                                  (Unaudited)         2001
                                                --------------     -----------
Assets:
Insurance-related investments:
Fixed maturity securities held
   to maturity, at amortized cost                $25,529,958        $27,799,909
Fixed maturity securities available
   for sale, at market                            20,774,108         21,470,729
Equity securities available for sale,
   at market                                       2,699,505          2,641,549
Mortgage loans on real estate                     14,239,950         15,479,305
Real estate, net of accumulated
   depreciation                                    9,145,061          9,051,691
Policy, student and other loans                   11,130,398         11,277,975
Short-term investments                             3,294,374          1,453,644
                                               -------------      -------------
      Total insurance-related
         investments                              86,813,354         89,174,802
Restricted assets
   of cemeteries and mortuaries                    5,425,430          5,339,436
Cash                                              14,847,055          8,757,246
Receivables:
   Trade contracts                                 5,143,000          6,945,274
   Mortgage loans sold to investors               49,462,718         50,695,073
   Receivable from agents                          2,158,344          2,061,541
   Receivable from officers                           97,000            102,200
   Other                                           1,093,899          1,183,927
                                               -------------      -------------
      Total receivables                           57,954,961         60,988,015
   Allowance for doubtful accounts                (2,378,292)        (2,287,241)
                                               -------------      -------------
   Net receivables                                55,576,669         58,700,774
Policyholder accounts on deposit
   with reinsurer                                  7,120,360          7,148,068
Land and improvements held for sale                8,147,268          8,346,448
Accrued investment income                          1,202,536          1,059,789
Deferred policy acquisition costs                 15,034,437         14,453,023
Property, plant and equipment, net                10,872,668         10,802,387
Cost of insurance acquired                         7,431,019          7,615,348
Excess of cost over net assets
   of acquired subsidiaries                        1,056,174          1,065,045
Other                                                719,726            597,209
                                               -------------      -------------
      Total assets                              $214,246,696       $213,059,575
                                               =============      =============


















See accompanying notes to consolidated financial statements.

                                        4

<PAGE>



                     SECURITY NATIONAL FINANCIAL CORPORATION
                                AND SUBSIDIARIES
                     CONSOLIDATED BALANCE SHEET (Continued)


                                               March 31, 2002     December 31,
                                                 (Unaudited)         2001
                                               --------------     -----------
Liabilities:
-------------
Future life, annuity, and other
  policy benefits                              $141,002,970     $140,504,866
Unearned premium reserve                          1,963,317        1,785,977
Bank loans payable                                8,622,705        8,461,900
Notes and contracts payable                       3,560,445        3,635,776
Estimated future costs of
   pre-need sales                                 9,367,455        9,338,353
Payable to endowment care fund                       11,225               --
Accounts payable                                    842,433        1,319,319
Funds held under reinsurance
   treaties                                       1,359,640        1,379,640
Other liabilities and
   accrued expenses                               4,784,748        5,552,799
Income taxes                                      7,245,801        6,874,597
                                              -------------    -------------
      Total liabilities                         178,760,739      178,853,227

Minority interest                                 4,208,827        4,237,030

Stockholders' Equity:
--------------------
Common stock:
      Class A: $2 par value,
         authorized 10,000,000
         shares, issued 5,363,620
         shares in 2002 and 5,363,591
         shares in 2001                          10,727,240       10,727,182
      Class C: $0.20 par value,
         authorized 7,500,000 shares,
         issued 6,113,139 shares in
         2002 and 6,113,430 shares
         in 2001                                  1,222,628        1,222,686
                                              -------------    -------------
Total common stock                               11,949,868       11,949,868
Additional paid-in capital                       10,168,524       10,168,523
Accumulated other comprehensive
   income, net of deferred taxes                  1,151,880        1,223,930
Retained earnings                                11,369,091        9,989,230
Treasury stock at cost (1,294,716
      Class A shares and 68,332 Class C
      shares in 2002 and 2001 held
      by affiliated companies)                   (3,362,233)      (3,362,233)
                                              -------------    -------------
Total stockholders' equity                       31,277,130       29,969,318
                                              -------------    -------------
   Total liabilities and
      stockholders' equity                     $214,246,696     $213,059,575
                                              =============    =============













See accompanying notes to consolidated financial statements.

                                        5

<PAGE>



                     SECURITY NATIONAL FINANCIAL CORPORATION
                                AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)



                                                   Three Months Ended March 31,
                                                         2002       2001
                                                         ----       ----
Cash flows from operating activities:
      Net cash provided by (used in)
      operating activities                           $4,914,284  $(11,925,632)

Cash flows from investing activities:
   Securities held to maturity:
      Purchase - fixed maturity securities                   --      (402,995)
      Calls and maturities - fixed
        maturity securities                           2,277,722     4,509,696
   Securities available for sale:
      Calls and maturities - fixed
         maturity securities                            300,000         6,250
   Purchases of short-term investments               (1,840,730)   (6,948,226)
   Sales of short-term investments                           --     7,768,000
   Purchases of restricted assets                       (85,994)     (101,672)
   Mortgage, policy, and other loans made              (256,554)   (1,820,134)
   Payments received for mortgage,
     policy, and other loans                          1,836,530     1,215,028
   Purchases of property, plant,
      and equipment                                    (346,650)     (106,839)
   Purchases of real estate                            (384,876)      (18,439)
                                                   ------------  ------------

         Net cash provided by
            (used in) investing activities            1,499,448     4,100,669
                                                   ------------  ------------

Cash flows from financing activities:
   Annuity receipts                                   2,504,928     1,739,650
   Annuity withdrawals                               (2,914,325)   (3,178,673)
   Repayment of bank loans and
      notes and contracts payable                      (101,120)     (583,784)
   Proceeds from borrowings on bank
      loans and notes and contracts payable             186,594         --
   Net change in line of credit
      for financing of mortgage loans                        --     2,000,000
                                                   ------------  ------------

   Net cash (used in) provided by
      financing activities                             (323,923)      (22,807)
                                                   ------------  ------------
Net change in cash                                    6,089,809    (7,847,770)

Cash at beginning of period                           8,757,246    11,275,030
                                                   ------------  ------------
Cash at end of period                               $14,847,055    $3,427,260
                                                   ============  ============















See accompanying notes to consolidated financial statements.

                                        6

<PAGE>



            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

1.  Basis of Presentation

The accompanying  unaudited consolidated financial statements have been prepared
in accordance with accounting principles generally accepted in the United States
of America for interim  financial  information and with the instructions to Form
10-Q and Article 10 of Regulation S-X.  Accordingly,  they do not include all of
the  information  and  footnotes  required by  accounting  principles  generally
accepted in the United States of America for complete financial  statements.  In
the opinion of  management,  all  adjustments  (consisting  of normal  recurring
accruals)  considered  necessary  for a fair  presentation  have been  included.
Operating results for the three months ended March 31, 2002, are not necessarily
indicative of the results that may be expected for the year ending  December 31,
2002. For further  information,  refer to the consolidated  financial statements
and  footnotes  thereto for the year ended  December 31,  2001,  included in the
Company's Annual Report on Form 10-K (file number 0-9341).

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  that affect the amounts  reported in the  financial
statements  and  accompanying  notes.  Actual  results  could  differ from those
estimates.

The estimates  susceptible to  significant  change are those used in determining
the liability for future policy  benefits and claims,  those used in determining
valuation  allowances  for  mortgage  loans on real  estate,  and those  used in
determining  the  estimated  future  costs for  pre-need  sales.  Although  some
variability  is inherent in these  estimates,  management  believes  the amounts
provided are adequate.

2.   Comprehensive Income

For the three months ended March 31, 2002 and 2001, total  comprehensive  income
amounted to $1,307,811 and $663,018, respectively.

3.   Capital Stock

The basic and diluted earnings per share amounts were calculated as follows:

                                                Three Months Ended March 31,
                                                  2002            2001
                                                  ----            ----
Numerator:
      Net income                               $1,379,861        $528,993
                                               ==========      ==========

Denominator:
      Denominator for basic
        earnings per share--
        weighted-average shares                 4,673,385       4,450,839
                                               ----------      ----------

      Effect of dilutive securities:
        Employee stock options                      1,312             255
                                               ----------      ----------

      Dilutive potential
        common shares                               1,312             255
                                               ----------      ----------

      Denominator for diluted earnings
        per share-adjusted weighted-
        average shares and assumed
        conversions                             4,674,697       4,451,094
                                               ==========      ==========

      Basic earnings per share                      $0.30           $0.12
                                               ==========      ==========

      Diluted earnings per share                    $0.30           $0.12
                                               ==========      ==========

There are no dilutive effects on net income for purpose of this calculation.

                                        7

<PAGE>



            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

<TABLE>
<CAPTION>


4.  Business Segment

                                   Life        Cemetery/                  Reconciling
                                Insurance      Mortuary      Mortgage        Items       Consolidated
                                ---------      --------      --------        -----       ------------

<S>                           <C>            <C>            <C>             <C>           <C>
For the Three Months Ended
   March 31, 2002
   Revenues from
      external customers       $4,873,742     $3,688,908    $11,038,889       $     --     $19,601,539

   Intersegment revenues        1,206,072             --             --     (1,206,072)             --

   Segment profit                 335,851        970,842        540,490             --       1,847,183

   Identifiable assets        201,181,785     39,801,986      5,774,218    (32,523,293)    214,246,696

For the Three Months Ended
   March 31, 2001
   Revenues from
      external customers       $5,343,762     $2,707,413     $9,695,589       $     --     $17,746,764

   Intersegment revenues          814,001             --             --       (814,001)             --

   Segment profit                 318,165        177,940        214,541             --         710,646

   Identifiable assets        201,889,255     35,847,523      4,845,984    (32,204,583)    210,378,179

</TABLE>

                                        8

<PAGE>

Item 2.  Management's Discussion and Analysis

Overview

The Company's  operations  over the last several years  generally  reflect three
trends or events which the Company expects to continue:  (i) increased attention
to "niche" insurance  products,  such as the Company's funeral plan policies and
interest  sensitive  products;  (ii) emphasis on cemetery and mortuary business;
and (iii)  capitalizing  on lower interest rates by originating  and refinancing
mortgage loans.

During the three months ended March 31, 2002, Security National Mortgage Company
("SNMC")  experienced  increases  in revenue and expenses due to the increase in
loan volume of its operations.  SNMC is a mortgage lender incorporated under the
laws of the State of Utah. SNMC is approved and regulated by the Federal Housing
Administration  (FHA), a department of the U.S.  Department of Housing and Urban
Development  (HUD),  to originate  mortgage  loans that  qualify for  government
insurance in the event of default by the borrower.  SNMC obtains loans primarily
from independent brokers and correspondents.  SNMC funds the loans from internal
cash flows and lines of credit from financial  institutions.  SNMC receives fees
from  origination  points paid by the borrowers and service and release premiums
received from third party investors who purchase the loans from SNMC. SNMC sells
all of its loans to third party investors and does not retain servicing to these
loans. SNMC pays the brokers and  correspondents a commission for loans that are
brokered through SNMC. SNMC originated and sold 2,194  ($311,000,000)  and 1,856
($270,000,000)  loans respectively for the three months ended March 31, 2002 and
2001.

Results of Operations

Three Months Ended March 31, 2002 Compared to Three Months Ended March 31, 2001

Total revenues  increased by $1,855,000,  or 10.5%, to $19,602,000 for the three
months ended March 31, 2002,  from  $17,747,000 for the three months ended March
31,  2001.  Contributing  to this  increase in total  revenues  was a $1,245,000
increase  in mortgage  fee  income,  a $268,000  increase  in net  mortuary  and
cemetery  sales and a $715,000  increase in realized  gains on  investments  and
other assets.

Insurance premiums and other considerations  decreased by $158,000,  or 4.5%, to
$3,323,000  for the three months ended March 31, 2002,  from  $3,481,000 for the
comparable  period in 2001. This decrease was primarily the result of a decrease
in the  amortization  of  unearned  premium  reserve  to the  Company's  current
actuarial assumptions.

Net  investment  income  decreased by $225,000,  or 7.2%, to $2,924,000  for the
three months ended March 31, 2002, from $3,149,000 for the comparable  period in
2001. This decrease was primarily attributable to lower yields on investments.

Net mortuary and cemetery sales  increased by $268,000,  or 10.9%, to $2,728,000
for the three months ended March 31, 2002,  from  $2,460,000  for the comparable
period in 2001. This increase was primarily due to additional  at-need  cemetery
and mortuary sales.

Realized  gains on  investments  and other  assets  increased  by  $715,000,  to
$719,000  for the  three  months  ended  March 31,  2002,  from  $4,000  for the
comparable  period  in  2001.  This  increase  was  the  result  of the  sale of
approximately  3.5  acres at  Lakehills  Cemetery  in Sandy,  Utah,  to the Utah
Transit Authority.

                                        9

<PAGE>



Mortgage fee income  increased by  $1,245,000,  or 14.4%,  to $9,866,000 for the
three months ended March 31, 2002, from $8,621,000 for the comparable  period in
2001.  This  increase was  primarily  attributable  to a greater  number of loan
originations  during the three  months of 2002 due to the  opening of new branch
offices in Mesa,  Arizona  and  Houston,  Texas and an  increase  in business at
existing branch offices.

Total benefits and expenses were  $17,754,000,  or 90.6%,  of total revenues for
the three months ended March 31, 2002, as compared to $17,036,000,  or 96.0%, of
total revenues for the comparable period in 2001.

Death  benefits,  surrenders  and other  policy  benefits and increase in future
policy benefits decreased by an aggregate of $50,000, or 1.6%, to $3,046,000 for
the three months ended March 31, 2002, from $3,096,000 for the comparable period
in 2001.  This  decrease was  primarily the result of a decrease in reserves for
policyholders.

Amortization of deferred policy acquisition costs and cost of insurance acquired
decreased  by $243,000,  or 22.6%,  to $835,000 for the three months ended March
31, 2002, from  $1,078,000 for the comparable  period in 2001. This decrease was
primarily  due to the  adjustment  of the  amortization  rate  to the  Company's
current actuarial assumptions.

General and  administrative  expenses  increased  by  $1,430,000,  or 12.4%,  to
$12,951,000 for the three months ended March 31, 2002, from  $11,521,000 for the
comparable period in 2001. This increase  primarily resulted from an increase in
commissions,  salaries  and  other  expenses  due to  additional  mortgage  loan
originations  having been made by the Company's  mortgage  subsidiary during the
three months of 2002.

Interest  expense  decreased  by $386,000,  or 54.4%,  to $322,000 for the three
months ended March 31, 2002,  from $708,000 for the  comparable  period in 2001.
This decrease was primarily due to lower interest rates for borrowings under the
Company's  warehouse lines of credit required for mortgage loan  originations by
the Company's mortgage subsidiary.

Cost of goods and services sold of the mortuaries  and  cemeteries  decreased by
$34,000,  or 5.3%,  to $600,000 for the three months ended March 31, 2002,  from
$634,000 for the comparable  period in 2001.  This decrease was primarily due to
greater sales of cemetery burial property sales in 2002, which have a lower cost
of goods sold than other funeral products.

Liquidity and Capital Resources

The Company's life insurance subsidiaries and cemetery and mortuary subsidiaries
realize  cash flow  from  premiums,  contract  payments  and  sales on  personal
services  rendered  for  cemetery  and  mortuary  business,  from  interest  and
dividends  on  invested  assets,  and from the  proceeds  from the  maturity  of
held-to-maturity  investments,  or  sale  of  other  investments.  The  mortgage
subsidiary realizes cash flow from fees generated by originating and refinancing
mortgage loans and interest  earned on mortgages sold to investors.  The Company
considers these sources of cash flow to be adequate to fund future  policyholder
and  cemetery and mortuary  liabilities,  which  generally  are  long-term,  and
adequate to pay current policyholder claims,  annuity payments,  expenses on the
issuance of new policies,  the maintenance of existing  policies,  debt service,
and operating expenses.

The  Company  attempts  to  match  the  duration  of  invested  assets  with its
policyholder  and  cemetery  and  mortuary  liabilities.  The  Company  may sell
investments other than those  held-to-maturity  in the portfolio to help in this
timing;  however,  to date, that has not been necessary.  The Company  purchases
short-term  investments  on a  temporary  basis  to  meet  the  expectations  of
short-term  requirements  of the Company's  products.  The Company's  investment
philosophy is intended to provide a rate of return which will persist during the
expected  duration  of  policyholder  and  cemetery  and  mortuary   liabilities
regardless of future interest rate movements.

The Company's  investment  policy is to invest  predominantly  in fixed maturity
securities,  mortgage loans, and warehouse  mortgage loans on a short-term basis
before selling the loans to investors in accordance  with the  requirements  and
laws  governing  the  life  insurance  subsidiaries.  Bonds  owned  by the  life
insurance subsidiaries amounted to $46,304,000 as of March 31, 2002, compared to
$49,271,000 as of

                                       10

<PAGE>



December 31, 2001.  This  represents 53% and 55% of the total  insurance-related
investments  as  of  March  31,  2002,  and  December  31,  2001,  respectively.
Generally,  all bonds owned by the life insurance  subsidiaries are rated by the
National Association of Insurance Commissioners. Under this rating system, there
are three  categories  used for rating bonds. At March 31, 2002 and December 31,
2001, 5% ($2,438,000)  of the Company's total  investment in bonds were invested
in  bonds  in  rating   categories  three  through  six,  which  are  considered
non-investment grade.

The Company has  classified  certain of its fixed income  securities,  including
high-yield  securities,  in its  portfolio  as  available  for  sale,  with  the
remainder  classified as held to maturity.  However,  in accordance with Company
policy,  any such securities  purchased in the future will be classified as held
to maturity.  Business conditions,  however, may develop in the future which may
indicate a need for a higher level of liquidity in the investment portfolio.  In
that event the  Company  believes  it could  sell  short-term  investment  grade
securities before liquidating higher-yielding longer term securities.

The Company is subject to risk based capital guidelines established by statutory
regulators  requiring  minimum  capital  levels based on the  perceived  risk of
assets, liabilities, disintermediation, and business risk. At March 31, 2002 and
December  31,  2001,  the life  insurance  subsidiary  exceeded  the  regulatory
criteria.

The Company's total  capitalization  of  stockholders'  equity and bank debt and
notes payable was  $43,449,000  as of March 31, 2002, as compared to $42,067,000
as of December 31,  2001.  Stockholders'  equity as a percent of  capitalization
increased to 72% as of March 31, 2002, from 71% as of December 31, 2001.

Lapse  rates  measure the amount of  insurance  terminated  during a  particular
period.  The  Company's  lapse  rate for  life  insurance  in 2001 was  13.2% as
compared to a rate of 15.0% for 2000. The 2002 lapse rate is  approximately  the
same as 2001.

At March 31,  2002,  $23,209,000  of the  Company's  consolidated  stockholders'
equity  represents  the statutory  stockholders'  equity of the  Company's  life
insurance subsidiaries. The life insurance subsidiaries cannot pay a dividend to
its parent company without the approval of insurance regulatory authorities.

Item 3.  Quantitative and Qualitative Disclosure of Market Risk

There have been no  significant  changes since the annual report Form 10-K filed
for the year ended December 31, 2001.

                           Part II Other Information:

Item 1.        Legal Proceedings

               An action was brought against the Company in July 1999 by Dorothy
               Ruth Campbell in the Circuit Court of Escambia  County,  Alabama.
               The  action  arises out of a denial of  coverage  under a $10,000
               insurance  policy.  The claims are for  breach of  contract,  bad
               faith and fraudulent  misrepresentation.  In the action, Campbell
               seeks  compensatory  and  punitive  damages  plus  interest.  The
               Company  has filed its  response  to the  complaint  and  certain
               discovery  has taken  place.  The Company  intends to  vigorously
               defend the matter.

               An action was brought  against the Company in May 2001, by Glenna
               Brown Thomas  individually and as personal  representative of the
               Estate of Lynn W. Brown in the Third  Judicial  Court,  Salt Lake
               County,  Utah. The action asserts that Memorial Estates delivered
               to Lynn W. Brown  three  stock  certificates  representing  2,000
               shares in 1970 and 1971.  Mr. Brown died in 1972.  It is asserted
               that at the time the 2,000  shares were  issued and  outstanding,
               such  represented  a 2%  ownership  of  Memorial  Estates.  It is
               alleged  Mr.  Brown was  entitled to  preemptive  rights and that
               after the  issuance of the stock to Mr.  Brown there were further
               issuances of stock without  providing written notice to Mr. Brown
               or his estate with  respect to an  opportunity  to purchase  more
               stock.  It is asserted  among the other things that the plaintiff
               "has the right to a transfer of Brown's shares to

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               Thomas on defendants' (which includes Security National Financial
               Corporation  as well as  Memorial  Estates,  Inc.)  books  and to
               restoration of Brown's  proportion of share ownership in Memorial
               at the time of his death by  issuance  and  delivery to Thomas of
               sufficient shares of defendant's publicly traded and unrestricted
               stock in  exchange  for the 2,000  shares of  Memorial  stock and
               payment of all  dividends  from the date of Thomas's  demand,  as
               required by Article XV of the Articles of  Incorporation."  Based
               on present information,  the Company intends to vigorously defend
               the  matter,   including  an   assertion   that  the  statute  of
               limitations bars the claims.

               An action was  brought  against  the  Company by  National  Group
               Underwriters,  Inc. ("NGU") in state court in the State of Texas.
               The case was removed by the Company to the United States District
               Court for the Northern District of Texas, Fort Worth Division. An
               Amended  Complaint  was  filed on or about  July  18,  2001.  The
               Amended  Complaint  asserts  that  NGU had a  contract  with  the
               Company  wherein  NGU  would  submit   applications  for  certain
               policies of insurance to be issued by the Company.  It is alleged
               that disputes have arisen between NGU and the Company with regard
               to the calculation and payment of certain advanced commissions as
               well as certain production bonuses.

               NGU  alleges  that it "has  been  damaged  far in  excess  of the
               $75,000  minimum  jurisdictional  limits of this Court." NGU also
               seeks  attorney's  fees  and  costs  as well as  prejudgment  and
               postjudgment  interest.  A second  amended  complaint and a third
               amended  complaint,  which included a fraud claim,  were filed. A
               motion  was filed by the  Company to  dismiss  the third  amended
               complaint,  including  the  fraud  claim.  The court  denied  the
               motion. The Company has counterclaimed for what it claims to be a
               debit  balance owing to it pursuant to the  relationship  between
               the parties with the counterclaim  seeking an amount in excess of
               $411,000  (said  amount  potentially   subject  to  reduction  as
               premiums  are  received).  The Company is also seeking to recover
               attorney's fees and costs, as well punitive damages on two of its
               causes  of  action.  NGU has filed a motion  to  dismiss  certain
               claims in the  counterclaim,  which the court granted in part and
               denied in part.  Discovery is currently taking place. The Company
               intends to vigorously  defend the matter as well as prosecute its
               counterclaim.

               The Company is not a party to any other legal proceedings outside
               the  ordinary  course of the  Company's  business or to any other
               legal proceedings  which, if adversely  determined,  would have a
               material adverse effect on the Company or its business.

Item 2.        Changes in Securities

               NONE

Item 3.        Defaults Upon Senior Securities

               NONE

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

               NONE

Item 5.        Other Information

               NONE

Item 6.        Exhibits and Reports on Form 8-K

(a)(3)  Exhibits:
    3.A.     Articles of Restatement of Articles of Incorporation (8)
      B.     Bylaws (1)

    4.A.     Specimen Class A Stock Certificate (1)
      B.     Specimen Class C Stock Certificate (1)
      C.     Specimen Preferred Stock Certificate and Certificate of
             Designation of Preferred Stock (1)

                                       12

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10.    A.    Restated and Amended Employee Stock Ownership Plan and Trust
             Agreement (1)
       B.    Deferred Compensation Agreement with George R. Quist (2)
       C.    1993 Stock Option Plan (3)
       D.    2000 Director Stock Option Plan (12)
       E.    Promissory Note with Key Bank of Utah (4)
       F.    Loan and Security Agreement with Key Bank of Utah (4)
       G.    General Pledge Agreement with Key Bank of Utah (4)
       H.    Note Secured by Purchase Price Deed of Trust and Assignment of
             Rents with the Carter Family Trust and the Leonard M. Smith
             Family Trust (5)
       I.    Deed of Trust and Assignment of Rents with the Carter Family Trust
             and the Leonard M. Smith Family Trust (5)
       J.    Promissory Note with Page and Patricia Greer (6)
       K.    Pledge Agreement with Page and Patricia Greer (6)
       L.    Promissory Note with Civil Service Employees Insurance Company (7)
       M.    Deferred Compensation Agreement with William C. Sargent (8)
       N.    Employment Agreement with Scott M. Quist. (8)
       O.    Acquisition Agreement with Consolidare Enterprises, Inc., and
             certain shareholders of Consolidare. (9)
       P.    Agreement and Plan of Merger between Consolidare Enterprises,
             Inc., and SSLIC Holding Company. (10)
       Q.    Administrative Services Agreement with Southern Security Life
             Insurance Company. (11)
       R.    Promissory Note with George R. Quist (13)
       S.    Deferred Compensation Plan (14)

            (1)    Incorporated by reference from Registration Statement on Form
                   S-1, as filed on June 29, 1987.
            (2)    Incorporated by reference from Annual Report on Form 10-K, as
                   filed on March 31, 1989.
            (3)    Incorporated by reference from Annual Report on Form 10-K, as
                   filed on March 31, 1994.
            (4)    Incorporated by reference from Report on Form 8-K, as filed
                   on February 24, 1995.
            (5)    Incorporated by reference from Annual Report on Form 10K, as
                   filed on March 31, 1995.
            (6)    Incorporated by reference from Report on Form 8-K, as filed
                   on May 1, 1995.
            (7)    Incorporated by reference from Report on Form 8-K, as filed
                   on January 16, 1996.
            (8)    Incorporated by reference from Annual Report on Form 10-K, as
                   filed on March 31, 1998.
            (9)    Incorporated by reference from Report on Form 8-K, as filed
                   on May 11, 1998.
           (10)    Incorporated by reference from Report on Form 8-K, as filed
                   on January 4, 1999.
           (11)    Incorporated by reference from Report on Form 8-K, as filed
                   on March 4, 1999.
           (12)    Incorporated by reference from Schedule 14A Definitive Proxy
                   Statement, filed August 29, 2000, relating to the Company's
                   Annual Meeting of Shareholders.
           (13)    Incorporated by reference from Report on Form 10-K, as filed
                   on April 16, 2001.
           (14)    Incorporated by reference from Report on Form 10-K, as filed
                   on April 3, 2002.

    21.  Subsidiaries of the Registrant

    (b)  Reports on Form 8-K:

            None

                                       13

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                                   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 thereunto duly authorized.


                                   REGISTRANT
                     SECURITY NATIONAL FINANCIAL CORPORATION
                                   Registrant



DATED: May 15, 2002            By:    George R. Quist,
                                      ----------------
                                      Chairman of the Board,
                                      President and Chief Executive Officer
                                     (Principal Executive Officer)


DATED: May 15, 2002            By:    Stephen M. Sill
                                      ---------------
                                      Vice President, Treasurer and Chief
                                      Financial Officer (Principal
                                      Financial and Accounting Officer)

                                       14

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