UNITED STATES 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, 2006               Commission File Number: 0-9341
--------------------------------               ------------------------------



                     SECURITY NATIONAL FINANCIAL CORPORATION
                            Exact Name of Registrant



            UTAH                                       87-0345941
(State or other jurisdiction              I.R.S. Employer 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  Sections  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

Indicate by check mark whether the registrant is a large  accelerated  filer, an
accelerated  filer, or a  non-accelerated  filer. See definition of "accelerated
filer and large accelerated filer" in Rule 12b-2 of the Securities  Exchange Act
of 1934. (Check one):

Large accelerated filer  [ ]  Accelerated filer  [ ]  Non-accelerated filer  [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Securities Exchange Act of 1934): YES ____  NO X

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                   5,847,239
-------------------------------------                  -----------
         Title of Class                          Number of Shares Outstanding
                                                    as of March 31, 2006

Class C Common Stock, $.20 par value                   6,642,929
------------------------------------                 ------------
         Title of Class                         Number of Shares Outstanding
                                                  as of March 31, 2006


<PAGE>


            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
                                    FORM 10-Q

                          QUARTER ENDED MARCH 31, 2006

                                TABLE OF CONTENTS


                         PART I - FINANCIAL INFORMATION



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

     Condensed Consolidated Statement of Earnings - Three months ended
     March 31, 2006 and 2005 (unaudited)....................................3

     Condensed Consolidated Balance Sheet - March 31, 2006, (unaudited)
     and December 31, 2005................................................4-5

     Condensed Consolidated Statement of Cash Flows -
     Three months ended March 31, 2006 and 2005 (unaudited).................6

     Notes to Condensed Consolidated Financial Statements (unaudited)....7-12


Item 2      Management's Discussion and Analysis of Financial Condition
------      and Results of Operations...................................12-15

Item 3      Quantitative and Qualitative Disclosures about Market Risk.....16
------

Item 4      Controls and Procedures........................................16
------

                           PART II - OTHER INFORMATION

            Other Information...........................................16-19

            Signature Page.................................................20

            Certifications..............................................21-23


<PAGE>
<TABLE>
<CAPTION>


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


                                                             Three Months Ended March 31,
Revenues:                                                     2006             2005
--------                                                      ----             ----
<S>                                                         <C>             <C>
Insurance premiums and other considerations                 $7,554,270      $7,180,520
Net investment income                                        5,074,686       4,345,263
Net mortuary and cemetery sales                              3,054,798       2,885,368
Realized gains (losses) on investments and other assets         (2,584)         23,690
Mortgage fee income                                         16,629,591      13,171,106
Other                                                           92,932         216,737
                                                          ------------    ------------
   Total revenues                                           32,403,693      27,822,684
                                                          ------------    ------------

Benefits and expenses:
Death benefits                                               3,821,959       3,515,928
Surrenders and other policy benefits                           587,125         469,367
Increase in future policy benefits                           2,333,007       2,628,190
Amortization of deferred policy
   and pre-need acquisition costs
   and cost of insurance acquired                              807,455         855,741
General and administrative expenses:
   Commissions                                              12,362,260      10,573,325
   Salaries                                                  4,242,752       3,812,734
   Other 5,290,766                                           4,516,123
Interest expense                                             1,020,791         641,688
Cost of goods and services sold-
   mortuaries and cemeteries                                   635,421         547,840
                                                          ------------    ------------
   Total benefits and expenses                              31,101,536      27,560,936
                                                          ------------    ------------

Earnings before income taxes                                 1,302,157         261,748
Income tax (expense) benefit                                  (288,491)         18,160
                                                          ------------    ------------
      Net earnings                                          $1,013,666        $279,908
                                                          ============    ============

Net earnings per common share                                     $.16            $.05
                                                                  ====            ====

   Weighted average outstanding common shares                6,511,542        6,079,717
                                                           ===========       ==========

Net earnings per common share-assuming dilution                  $.15              $.05
                                                                 ====              ====

   Weighted average outstanding common shares
      assuming-dilution                                      6,639,918         6,104,229
                                                            ===========      ===========
</TABLE>


See accompanying notes to condensed consolidated financial statements.


<PAGE>
<TABLE>
<CAPTION>


                     SECURITY NATIONAL FINANCIAL CORPORATION
                                AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS



                                                         March 31, 2006    December 31,
                                                           (Unaudited)        2005
Assets:
<S>                                                     <C>               <C>
Fixed maturity securities
  held to maturity, at amortized cost                     $91,925,758      $89,780,942
Fixed maturity securities available
  for sale, at estimated fair value                         5,583,584        6,597,161
Equity securities available for sale,
  at estimated fair value                                   5,133,253       12,346,939
Mortgage loans on real estate and construction loans,
  net of allowances for losses                             82,639,039       72,793,811
Real estate, net of accumulated
  depreciation and allowances for losses                    7,432,762        7,012,399
Policy, student and other loans net of allowance for
  doubtful accounts                                        12,463,702       12,391,569
Short-term investments                                      7,617,340        3,211,590
                                                        -------------    -------------
     Total investments                                    212,795,438      204,134,411
                                                        -------------    -------------
Restricted assets of cemeteries and mortuaries              5,310,700        5,240,099
                                                        -------------    -------------
Cash and cash equivalents                                  22,694,210       16,632,966
                                                        -------------    -------------
Receivables:
  Trade contracts                                           5,139,844        5,733,142
  Mortgage loans sold to investors                         46,765,321       53,970,231
  Receivable from agents                                    1,986,902        1,992,877
  Other                                                     1,120,588          958,851
                                                        -------------    -------------
     Total receivables                                     55,012,655       62,655,101
  Allowance for loan losses and doubtful accounts          (1,325,280)      (1,191,106)
                                                        -------------    -------------
     Net receivables                                       53,687,375       61,463,995
                                                        -------------    -------------
Policyholder accounts on deposit with reinsurer                    --        6,572,756
Cemetery land and improvements held for sale                8,301,811        8,498,227
Accrued investment income                                   2,530,784        2,197,576
Deferred policy and pre-need
  contract acquisition costs                               25,900,240       24,048,638
Property and equipment, net                                14,727,188       14,747,276
Cost of insurance acquired                                 12,612,567       12,663,221
Cemetery perpetual care trust investments                   1,079,605        1,152,493
Goodwill 683,191                                              683,191
Other                                                       2,283,649        1,610,624
                                                        -------------    -------------
     Total assets                                        $362,606,758     $359,645,473
                                                        =============    =============
</TABLE>

See accompanying notes to condensed consolidated financial statements.


<PAGE>


                     SECURITY NATIONAL FINANCIAL CORPORATION
                                AND SUBSIDIARIES
                CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)



                                                  March 31, 2006   December 31,
                                                   (Unaudited)        2005
Liabilities:
Future life, annuity, and other benefits          $262,399,599     $260,822,803
Unearned premium reserve                             3,854,335        3,157,918
Bank loans payable                                   8,528,704        8,946,321
Notes and contracts payable                            922,934        1,326,284
Deferred pre-need cemetery and mortuary
  contract revenues                                 10,798,584       10,828,994
Accounts payable                                     1,380,407        1,533,065
Funds held under reinsurance treaties                    --           1,129,747
Other liabilities and accrued expenses               9,610,244        9,427,644
Income taxes                                        15,012,141       14,601,029
                                                 -------------    -------------
     Total liabilities                             312,506,948      311,773,805
                                                 -------------    -------------

Commitments and contingencies                          --               --
                                                 -------------    -------------

Non-controlling interest in
    perpetual care trusts                            2,195,495        2,173,250
                                                 -------------    -------------

Stockholders' Equity:
Common stock:
  Class A: $2.00 par value, authorized
         10,000,000 shares, issued 7,099,261
         shares in 2006 and 7,098,363 shares
         in 2005                                    14,198,523       14,196,726
  Class C:  convertible, $0.20 par value, authorized
         7,500,000 shares, issued 6,781,067
         shares in 2006 and 6,781,060 shares
         in 2005                                     1,356,212        1,356,212
                                                 -------------    -------------
     Total common stock                             15,554,735       15,552,938
Additional paid-in capital                          15,652,479       15,650,344
Accumulated other comprehensive (loss
  and other items, net of deferred taxes             1,313,780          117,647
Retained earnings                                   18,469,757       17,460,024
Treasury stock at cost (1,252,022 Class A shares
     and 138,138 Class C shares in 2006;
     1,251,104 Class A shares and 138,138
     Class C shares in 2005 held
     by affiliated companies)                       (3,086,436)      (3,082,535)
                                                 -------------    -------------
     Total stockholders' equity                     47,904,315       45,698,418
                                                 -------------    -------------
         Total liabilities and
            stockholders' equity                  $362,606,758     $359,645,473
                                                 =============    =============




See accompanying notes to condensed consolidated financial statements.


<PAGE>
<TABLE>
<CAPTION>


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


                                                                              Three Months Ended March 31,
                                                                      2006                                    2005
                                                                      ----                                    ----
Cash flows from operating activities:
<S>                                                                   <C>                                <C>
      Net cash (used in) provided by operating activities             $ 16,686,154                       $ (7,857,716)
                                                                      ------------                       ------------

Cash flows from investing activities: Securities held to maturity:
      Purchase - fixed maturity securities                              (2,492,945)                          (502,000)
      Calls and maturities - fixed
         maturity securities                                               219,587                          5,622,503
   Securities available for sale:
      Purchase - fixed maturity securities                                 (36,776)                            (7,009)
      Sales - equity securities                                          8,907,662                           --
   Purchases of short-term investments                                 (17,289,494)                        (5,414,701)
   Sales of short-term investments                                      12,883,744                          4,883,208
   Purchases of restricted assets                                          (42,247)                           (41,090)
   Change in assets for perpetual care trusts                               72,888                            (67,735)
   Amount received for perpetual care trusts                                22,245                             27,575
   Mortgage, policy, and other loans made                              (19,593,150)                       (15,663,719)
   Payments received for mortgage,
      policy, and other loans                                            9,581,478                         19,117,574
   Purchases of property and equipment                                    (405,377)                          (404,331)
   Disposal of property and equipment                                       20,876                            --
   Purchases of real estate                                             (1,496,925)                        (1,887,950)
   Sale of real estate                                                     971,086                            926,062
                                                                    --------------                     --------------
         Net cash (used in) provided by
            investing activities                                        (8,677,348)                         6,588,387
                                                                    --------------                     --------------

Cash flows from financing activities:
   Annuity contract receipts                                             1,540,403                          1,419,729
   Annuity contract withdrawals                                         (2,701,701)                        (2,560,646)
   Purchase of treasury stock                                               (3,901)                           --
   Repayment of bank loans and notes and
      contracts payable                                                   (782,363)                          (242,940)
   Proceeds from borrowing on notes and
      contracts                                                           --                                  270,329
                                                                   ---------------                      -------------
      Net cash used in financing activities                             (1,947,562)                        (1,113,528)
                                                                   ---------------                      -------------

Net change in cash and cash equivalents                                  6,061,244                         (2,382,857)

Cash and cash equivalents at beginning of period                        16,632,966                         15,333,668
                                                                     -------------                       ------------

Cash and cash equivalents at end of period                             $22,694,210                        $12,950,811
                                                                       ===========                        ===========

</TABLE>

See accompanying notes to condensed consolidated financial statements.


<PAGE>



            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
                           March 31, 2006 (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 disclosures  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, 2006 are not necessarily
indicative of the results that may be expected for the year ending  December 31,
2006. For further  information,  refer to the consolidated  financial statements
and  notes  thereto  for the year  ended  December  31,  2005,  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 fairly stated in all material respects.

Certain 2005 amounts have been  reclassified  to bring them into conformity with
the 2006 presentation.

2.   Comprehensive Income

For the three months ended March 31, 2006 and 2005, total  comprehensive  income
amounted to $2,209,799 and $80,056, respectively.

3.   Stock-Based Compensation

Stock-Based Compensation

Effective  January 1, 2006,  the Company  adopted the provisions of Statement of
Financial Accounting Standards No. 123R,  "Share-Based Payment" ("FAS 123R") for
its stock-based  compensation plans. The Company previously  accounted for these
plans under the recognition and measurement  principles of Accounting Principles
Board Opinion No. 25,  "Accounting for Stock Issued to Employees" ("APB 25") and
related interpretations and disclosure requirements established by SFAS No. 123,
"Accounting  for Stock-Based  Compensation"  ("SFAS 123") as amended by SFAS No.
148, "Accounting for Stock Based Compensation - Transition and Disclosure."


<PAGE>


            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
                           March 31, 2006 (Unaudited)


3.   Stock-Based Compensation (Continued)

Under APB 25, no compensation expense was recorded in earnings for the Company's
stock-based  options granted under its compensation plans. The pro forma effects
on net income and  earnings per share for the options and awards  granted  under
the  plans  were  instead  disclosed  in a note  to the  consolidated  financial
statements.  Under SFAS 123R, all  stock-based  compensation  is measured at the
grant date, based on the fair value of the option or award, and is recognized as
an expense in earnings over the requisite  service,  which is typically  through
the date the options vest.

The Company adopted SFAS 123R using the modified  prospective method. Under this
method, for all stock-based  options and awards granted prior to January 1, 2006
that remain outstanding as of that date, compensation cost is recognized for the
unvested  portion  over  the  remaining  requisite  service  period,  using  the
grant-date fair value measured under the original provisions of SFAS 123 for pro
forma and  disclosure  purposes.  Furthermore,  compensation  costs will also be
recognized  for any awards  issued,  modified,  repurchased  or cancelled  after
January 1, 2006.

The Company  utilized the  Black-Scholes-Merton  model for  calculating the fair
value pro forma  disclosures under SFAS 123 and will continue to use this model,
which is an acceptable  valuation  approach under SFAS 123R. The following table
summarizes the  Black-Scholes-Merton  option-pricing  model  assumptions used to
compute the  weighted-average  fair value of stock  options  granted  during the
periods below that remain outstanding at March 31, 2006:

                                                    Three Months Ended
                                                          March 31,
                                                    2006          2005
                                                  -------         ----
Dividend yield                                       N/A*           5%
Expected volatility                                  N/A*          39%
Risk-free interest rate                              N/A*         3.4%
Expected holding period (in years)                   N/A*         7.5
Weighted-average fair value of options granted       N/A*       $1.92
----------------

* Not applicable as there were no options granted during the period.

No options  were  granted  for the three  months  ended  March 31,  2006.  Total
compensation costs relating to stock-based  compensation was not material during
the three months ended March 31, 2006,  including  the effects from  adoption of
SFAS 123R,  which would have previously been presented in a pro form disclosure,
as discussed above.

The following table  illustrates the effect on net income and earnings per share
as if the Company had applied the fair-value  recognition provisions of SFAS 123
to all of its stock-based  compensation  awards for periods prior to adoption of
SFAS 123R,  and the actual  effect on net income and  earnings per share for the
period subsequent to the adoption of SFAS 123R:



<PAGE>


            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
                           March 31, 2006 (Unaudited)




3.   Stock-Based Compensation (Continued)

Net earnings, as reported                        $1,013,666         $ 279,908
Total stock-based employee
   compensation recognized                           --                --
Total stock-based employee
    compensation expense determined
    under fair value based method for all awards     --             (169,230)
                                                 ----------        ---------
Pro forma net earnings                           $1,013,666        $ 110,678
                                                 ==========        =========

Basic earnings per share, as reported                  $.16             $.05

Diluted earnings per share as reported                 $.16             $.05
                                                       ====             ====

Basic earnings per share, pro forma                    $.15             $.02
Diluted earnings per share, pro forma                  $.15             $.02
                                                       ====             ====


4.    Earnings Per Share

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

                                                 Three Months Ended March 31,
                                                2006                     2005
                                                ----                     ----
Numerator:
  Net income                                $1,013,666            $   279,908
                                            ==========            ===========
Denominator:
  Denominator for basic earnings per share-
    weighted-average shares                  6,511,542              6,079,717
                                           -----------            -----------

  Effect of dilutive securities:
    Employee stock options                     127,348                 23,971
    Stock appreciation rights                    1,028                    541
                                         -------------            -----------
  Dilutive potential common shares             128,376                 24,512
                                          ------------            ------------

  Denominator for diluted earnings
    per share-adjusted weighted-average
    shares and  assumed conversions          6,639,918              6,104,229
                                           ===========             ==========

  Basic earnings per share                       $.16                    $.05
                                                 ====                    ====

  Diluted earnings per share                     $.15                    $.05
                                                 ====                    ====

Earnings  per share  amounts  have been  adjusted for the effect of annual stock
dividends.


<PAGE>
<TABLE>
<CAPTION>


            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
                           March 31, 2006 (Unaudited)


5.  Business Segment
                                        Life             Cemetery/                            Reconciling
                                      Insurance          Mortuary           Mortgage             Items        Consolidated

For the Three Months Ended
March 31, 2006

<S>                                <C>                 <C>                <C>               <C>            <C>
   Revenues from
      external customers            $ 10,911,337       $ 3,316,689         $18,175,667     $     --         $ 32,403,693

  Intersegment revenues               1,389,866            23,001               91,436        (1,504,303)        --

   Segment profit (loss)
      before income taxes              1,106,077           371,855            (175,775)           --            1,302,157

   Identifiable assets               351,077,917        51,233,037          18,974,145        (58,678,341)    362,606,758

For the Three Months Ended
March 31, 2005

   Revenues from
      external customers            $ 10,056,516       $ 3,193,073         $14,573,095$            --        $ 27,822,684

   Intersegment revenues               1,248,758            23,001              79,401         (1,351,160)        --

   Segment profit (loss)
      before income taxes                637,839           354,198            (730,289)           --              261,748

   Identifiable assets               305,320,094        48,186,225          14,239,233        (51,379,898)    316,365,654
</TABLE>



<PAGE>


            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
                           March 31, 2006, (Unaudited)



6.  Merger and Acquisition Transactions

Southern Security Life

As of December  31,  2004,  the  Company's  wholly  owned  subsidiary,  Security
National Life Insurance Company ("Security National Life"), and its wholly owned
subsidiary,  SSLIC Holding, owned approximately 77% of the outstanding shares of
common stock of Southern Security Life.

On January 1, 2005, Security National Life and SSLIC Holding Company completed a
merger  transaction  with Southern  Security Life Insurance  Company  ("Southern
Security Life"). Under the terms of the merger and pursuant to the Agreement and
Plan of Reorganization,  dated August 25, 2004,  including the amendment thereto
dated December 27, 2004, SSLIC Holding Company was merged with and into Southern
Security  Life.  The merger  transaction  resulted  in  Southern  Security  Life
becoming  a  wholly  owned  subsidiary  of  Security   National  Life,  and  the
unaffiliated  stockholders  of Southern  Security Life,  holding an aggregate of
490,816 shares of common stock, or approximately  23% of the outstanding  common
shares of Southern Security Life, becoming entitled to receive $3.84 in cash for
each issued and  outstanding  share of their common  stock of Southern  Security
Life, or an aggregate of $1,884,733.  This  consideration  was primarily paid to
those unaffiliated stockholders during 2005.

7.       Recent Accounting Pronouncements

In December 2004, the FASB issued SFAS No. 153, Exchange of Non-monetary Assets.
SFAS  No.  153  amends  APB  Opinion  No.  29,   Accounting   for   Non-monetary
Transactions,  to eliminate the exception for non-monetary  exchanges of similar
productive  assets.  The Company  will be required  to apply this  statement  to
non-monetary  exchanges  after  December 31, 2005. The adoption of this standard
did not have a material effect on the Company's financial position or results of
operations.

In June  2005,  the FASB  issued  SFAS No.  154,  Accounting  Changes  and Error
Corrections,  a replacement of APB Opinion No. 20, Accounting Changes,  and FASB
No. 3, Reporting Accounting Changes in Interim Financial  Statements.  Statement
154 applies to all voluntary  changes in accounting  principle,  and changes the
requirements  for  accounting  for  and  reporting  of a  change  in  accounting
principle.  Statement 154 requires  retrospective  application to prior periods'
financial  statements of a voluntary change in accounting principle unless it is
impracticable.  It is effective for accounting changes and corrections of errors
made in fiscal years beginning after December 15, 2005. The adoption of SFAS 154
did not have a material impact on its financial statements.

In June 2005, the FASB Emerging  Issues Task Force ("EITF")  reached a consensus
on  Issue  No.  05-6,   Determining  the   Amortization   Period  for  Leasehold
Improvements.  The guidance requires that leasehold  improvements  acquired in a
business  combination  or purchased  subsequent  to the  inception of a lease be
amortized  over the  lesser  of the  useful  life of the  assets  or a term that
includes  renewals  that are  reasonably  assured  at the  date of the  business
combination or purchase.  The Company adopted EITF No. 05-06 on January 1, 2006.
The  adoption of EITF No. 05-6 did not have a material  effect on the  Company's
financial position or results of operations.


<PAGE>


            SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
                           March 31, 2006, (Unaudited)


7.       Recent Accounting Pronouncements (Continued)

In September  2005, the AICPA issued  Statement of Position 05-1,  Accounting by
Insurance  Enterprises for Deferred Acquisition Costs ("DAC") in Connection with
Modifications  or Exchanges  of  Insurance  Contracts,  ("SOP  05-1").  SOP 05-1
provides  guidance on  accounting by insurance  enterprises  for DAC on internal
replacements of insurance and investment contracts. An internal replacement is a
modification in product benefits,  features,  rights or coverages that occurs by
the exchange of a contract for a new contract, or by amendment,  endorsement, or
rider to a  contract,  or by the  election  of a feature  or  coverage  within a
contract.   Modifications  that  result  in  a  replacement   contract  that  is
substantially  changed from the replaced  contract should be accounted for as an
extinguishment  of the replaced  contract.  Unamortized  DAC,  unearned  revenue
liabilities and deferred sales  inducements  from the replaced  contract must be
written-off.  Modifications  that  result in a  contract  that is  substantially
unchanged from the replaced  contract  should be accounted for as a continuation
of the  replaced  contract.  SOP 05-1 is  effective  for  internal  replacements
occurring  in fiscal years  beginning  after  December  15,  2006,  with earlier
adoption  encouraged.  Initial  application  of  SOP  05-1  should  be as of the
beginning of the entity's fiscal year. The Company is expected to adopt SOP 05-1
effective  January 1, 2007.  Adoption of this  statement  is expected to have an
impact on the Company's consolidated  financial statements;  however, the impact
has not yet been determined.

In February 2006, the Financial  Accounting  Standards  Board (FASB) issued SFAS
No. 155, Accounting for Certain Hybrid Financial  Instruments -- an amendment of
FASB  Statements  No.  133 and 140 (SFAS  155).  SFAS 155 amends  SFAS No.  133,
Accounting for Derivative  Instruments and Hedging  Activities and SFAS No. 140,
Accounting for Transfers and Servicing of Financial  Assets and  Extinguishments
of  Liabilities  and  related  interpretations.  SFAS  155  permits  fair  value
remeasurement  for any hybrid  financial  instrument  that  contains an embedded
derivative  that  otherwise  would  require   bifurcation  and  clarifies  which
interest-only strips and principal-only strips are not subject to recognition as
liabilities. SFAS 155 eliminates the prohibition on a qualifying special-purpose
entity  from  holding a  derivative  financial  instrument  that  pertains  to a
beneficial interest other than another derivative financial instrument. SFAS 155
is effective  for the Company for all financial  instruments  acquired or issued
beginning  January 1, 2007.  The impact of  adoption  of this  statement  on the
Company's  consolidated   financial  statements,   if  any,  has  not  yet  been
determined.

In March  2006,  the FASB  issued  SFAS No. 156,  Accounting  for  Servicing  of
Financial  Assets - an amendment of FASB Statement No. 140 (SFAS 156).  SFAS 156
amends SFAS 156 requires an entity to  recognize a servicing  asset or servicing
liability each time it undertakes an obligation to service a financial asset. It
also  requires  all  separately   recognized   servicing  assets  and  servicing
liabilities to be initially  measured at fair value,  if  practicable.  SFAS 156
permits  an entity  to use  either  the  amortization  method or the fair  value
measurement method for each class of separately  recognized servicing assets and
servicing  liabilities.  SFAS 156 is effective  for the Company as of January 1,
2007.  The impact of adoption of this  statement on the  Company's  consolidated
financial statements, if any, has not yet been determined.

8.       Other Business Activity

The City of Phoenix (in Arizona) has commenced  condemnation  proceedings on the
property  where  the  Camelback   Funeral  Home  was  located  for  purposes  of
constructing a light rail facility.  The city has placed $1,200,000 in escrow to
pay the Company for the property that was condemned.  The carrying amount on the
Company's  financial  statements  for the land  and  building  of the  Camelback
Funeral Home at March 31, 2006 and December 31, 2005 was  $678,889.  The Company
has had an independent  appraisal and is currently  negotiating  the sales price
with the city.


<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations
         ----------------------------------------------------------------------

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
traditional whole-life products; (ii) emphasis on cemetery and mortuary
business; and (iii) originating and refinancing mortgage loans.

During the three months ended March 31, 2006, Security National Mortgage Company
("SNMC")  experienced an increase 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 the  borrowers  and other  secondary  fees from third party  investors  who
purchase  the loans from SNMC.  SNMC  primarily  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 2,713  ($455,173,000)  and 2,532  ($395,920,000)
loans, respectively, for the three months ended March 31, 2006 and 2005.

Results of Operations

Three Months Ended March 31, 2006 Compared to Three Months Ended March 31, 2005

Total revenues  increased by $4,581,000,  or 16.5%, to $32,404,000 for the three
months ended March 31, 2006,  from  $27,823,000 for the three months ended March
31,  2005.  Contributing  to this  increase in total  revenues  was a $3,458,000
increase in mortgage fee income, a $374,000  increase in insurance  premiums and
other  considerations,  a $729,000 increase in investment income, and a $169,000
increase in net mortuary sales. This increase was partially offset by a $124,000
decrease in other revenues.

Insurance premiums and other considerations  increased by $374,000,  or 5.2%, to
$7,554,000  for the three months ended March 31, 2006,  from  $7,180,000 for the
comparable  period in 2005.  This increase was  primarily due to the  additional
insurance  premiums  realized from new insurance  sales and additional  premiums
from the purchase of Memorial Insurance Company on December 29, 2005.

Net investment  income  increased by $730,000,  or 16.8%,  to $5,075,000 for the
three months ended March 31, 2006, from $4,345,000 for the comparable  period in
2005. This increase was primarily  attributable to additional  borrower interest
income from increased  long-term  bond  purchases over the comparable  period in
2005 and additional  investment  income from the assets received in the Memorial
Insurance Company acquisition.

Net mortuary and cemetery  sales  increased by $169,000,  or 5.9%, to $3,055,000
for the three months ended March 31, 2006,  from  $2,886,000  for the comparable
period in 2005. This increase was due to increased at-need sales at the cemetery
and mortuary operations.


<PAGE>

Other revenues  decreased by $124,000 or 57.1%,  to $93,000 for the three months
ended March 31,  2006 from  $217,000  for the  comparable  period in 2005.  This
decrease was due to a reduction in other  revenues from the  Company's  mortuary
operations.

Mortgage fee income  increased by $3,459,000,  or 26.3%,  to $16,630,000 for the
three months ended March 31, 2006, from $13,171,000 for the comparable period in
2005.  This increase was primarily  attributable to an increase in the number of
loan  originations  during the first  quarter of 2006 due to the  opening of new
mortgage offices and increased  production in existing mortgage  offices,  which
resulted in the financing of a greater number of mortgage loans.

Total benefits and expenses were  $31,102,000,  or 96.0% of total revenues,  for
the three months ended March 31, 2006, as compared to  $27,561,000,  or 99.1% of
total  revenues,  for the  comparable  period in 2005.  This increase  primarily
resulted from loan costs at  SecurityNational  Mortgage Company due to a greater
number of loan  originations  and additional  expenses  related to operations of
Memorial Insurance Company, which the Company purchased on December 29, 2005.

Death  benefits,  surrenders and other policy  benefits,  and increase in future
policy benefits increased by an aggregate of $129,000 or 1.9%, to $6,742,000 for
the three months ended March 31, 2006, from $6,613,000 for the comparable period
in 2005. This increase was primarily the result of an increase in death benefits
and surrenders and other policy benefits.

Amortization  of  deferred  policy and  pre-need  acquisition  costs and cost of
insurance  acquired  decreased  by $48,000,  or 5.6%,  to $807,000 for the three
months ended March 31, 2006,  from $855,000 for the  comparable  period in 2005.
This decrease was primarily due to  recognition of  improvements  in persistency
and expenses.

General and  administrative  expenses  increased  by  $2,994,000,  or 15.8%,  to
$21,896,000 for the three months ended March 31, 2006, from  $18,902,000 for the
comparable period in 2005. This increase  primarily resulted from an increase in
commissions  due to a  greater  number of  mortgage  loan  originations  made by
SecurityNational  Mortgage  Company  during  the  first  quarter  of  2006,  the
additional  expenses  related to the operations of Memorial  Insurance  Company,
which the Company  purchased  on December 29, 2005,  and  increased  salaries of
existing employees and an increase in the number of employees.

Interest  expense  increased by $379,000,  or 59.1%, to $1,021,000 for the three
months ended March 31, 2006,  from $642,000 for the  comparable  period in 2005.
This increase was primarily due to increased  warehouse lines of credit required
for a greater number of warehoused mortgage loans by  SecurityNational  Mortgage
Company.

Cost of goods and services sold of the mortuaries  and  cemeteries  increased by
$88,000,  or 16.0%,  to $636,000 for the three months ended March 31, 2006, from
$548,000 for the comparable  period in 2005.  This increase was primarily due to
increased cemetery and mortuary sales.

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


<PAGE>


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 to meet 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 warehousing of 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 $97,509,000 as of March 31, 2006, compared to
$96,378,000  as  of  December  31,  2005.  This  represents  46%  of  the  total
insurance-related  investments  as of March 31,  2006,  and  December  31, 2005.
Generally,  all bonds owned by the life insurance  subsidiaries are rated by the
National Association of Insurance Commissioners. Under this rating system, there
are six  categories  used for rating  bonds.  At March 31, 2006 and December 31,
2005,  3%  ($3,348,000)   and  4%  ($3,431,000)  of  the  Company's  total  bond
investments 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, 2006,
and December 31, 2005,  the life  insurance  subsidiary  exceeded the regulatory
criteria.

The Company's total  capitalization  of  stockholders'  equity and bank debt and
notes payable was  $57,355,000  as of March 31, 2006, as compared to $55,970,000
as  of  December  31,  2005.   Stockholders'   equity  as  a  percent  of  total
capitalization was 84% and 82% as of March 31, 2006 and December 31, 2005.

Lapse  rates  measure the amount of  insurance  terminated  during a  particular
period. The Company's lapse rate for life insurance in 2005 was 7.9% as compared
to a rate of 9.0% for 2004.  The 2006 lapse rate to date has been  approximately
the same as 2005.

At March 31,  2006,  $21,025,000  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.


<PAGE>



Item 3.  Quantitative and Qualitative Disclosures about Market Risk

There have been no  significant  changes since the annual report Form 10-K filed
for the year ended December 31, 2005.

Item 4.   Controls and Procedures

(a) Evaluation of disclosure  controls and procedures - The Company's  principal
executive  officer and principal  financial  officer have reviewed and evaluated
the  effectiveness  of the  Company's  disclosure  controls and  procedures  (as
defined in Rule 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934
(the  "Exchange  Act") as of March  31,  2005.  Based  on that  evaluation,  the
principal  executive officer and the principal  financial officer have concluded
that the Company's  disclosure controls and procedures are effective,  providing
them with  material  information  relating  to the  Company  as  required  to be
disclosed in the reports the Company  files or submits under the Exchange Act on
a timely basis.

(b)  Changes in  internal  controls - There were no  significant  changes in the
Company's  internal  controls over financial  reporting or in other factors that
could  significantly  affect the  Company's  internal  controls  and  procedures
subsequent  to the date of their  most  recent  evaluation,  nor were  there any
significant  deficiencies  or  material  weaknesses  in the  Company's  internal
controls. As a result, no corrective actions were required or undertaken.

                           Part II Other Information:

Item 1.        Legal Proceedings

The Company  received a letter dated November 9, 2004 on behalf of Charles Hood,
who worked at Singing  Hills  Memorial  Park in El Cajon,  California.  Hood was
hired in April 2003 as a  groundskeeper  with his work concluding on October 30,
2003.  Hood  claims he wrote a letter to the  Company  expressing  his  concerns
regarding  the  operation  of  the  cemetery,  and  that  the  next  day  he was
terminated,  even  though  he  recognizes  his  relationship  was as an  at-will
employee.  Hood's claims  against the Company also include,  but are not limited
to,  violation  of labor  laws,  whistleblower  retaliation  and  infliction  of
emotional distress. The letter proposed a settlement in the amount of $275,000.

On November 23, 2005,  Hood filed a complaint in the Superior Court of the State
of California for the County for San Diego (Case No. GIE 028978) against Singing
Hills  Memorial  Park  and  California  Memorial  Estates,   Inc,  wholly  owned
subsidiaries  of the  Company.  The  claims in the  complaint  include  wrongful
termination  in violation of public  policy,  retaliation in violation of public
policy,  race  discrimination in violation of the California Fair Employment and
Housing Act,  retaliation  in violation of the  California  Fair  Employment and
Housing  Act,  intentional  infliction  of  emotional  distress,  plus  punitive
damages, attorney's fees and costs of the lawsuit. There are no specific amounts
requested in the complaint,  but damages are in an amount to be proven at a jury
trial.  The Company  contends that Hood voluntarily quit and was not terminated.
The Company intends to vigorously  defend the action.  An answer was filed.  The
case is in the discovery stage.

The Company also  received a letter  dated  November 29, 2004 on behalf of Roger
Gornichec,  who the Company recognizes as having been an independent contractor.
The attorney  who wrote the letter on behalf of Gornichec  also wrote the letter
on  behalf  of Hood.  Gornichec  concluded  his  services  as an  agent  selling
insurance in the spring of 2003 and his license to sell  cemetery  plots was not
renewed  in the  summer  of  2004.  Gornichec  asserts  that he was an  employee
contrary to the Company's position.


<PAGE>


The claims made on behalf of Gornichec include, but are not limited to, wrongful
termination   in   violation   of   public   policy,   misrepresentation,    age
discrimination,   whistle-blower   retaliation,   interference   with   economic
advantage,  breach of  contract,  breach of the  covenant of good faith and fair
dealing, and infliction of emotional distress.  Gornichec also claims he is owed
a certain amount from a retirement plan. The letter proposes a settlement in the
amount of $420,000.  Based on its investigation,  the Company believes Gornichec
was  an  independent  contractor  rather  than  an  employee,  and  there  is no
justification for the claims and the settlement  amount sought.  The Company has
reached a tentative  settlement  with  Gornichec,  which is contingent  upon the
completion of a settlement agreement.

The  Company is a defendant  in various  other legal  actions  arising  from the
normal  conduct of business.  Management  believes that none of the actions will
have a  material  effect on the  Company's  financial  position  or  results  of
operations. Based on management's assessment and legal counsel's representations
concerning the likelihood of unfavorable  outcomes, no amounts have been accrued
for the above claims in the consolidated financial statements.

Item 2.        Changes in Securities and Use of Proceeds

               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, Financial Statement Schedules and Reports on Form 8-K

(a)(1) Financial Statements

         See "Table of Contents - Part I - Financial Information" under page 2
above

(a)(2) Financial Statement Schedules

       None

          All other schedules to the consolidated  financial statements required
          by Article 7 of  Regulation  S-X are not  required  under the  related
          instructions or are inapplicable and therefore have been omitted.


<PAGE>







    (3)  Exhibits

         The following Exhibits are filed herewith pursuant to Rule 601 of
         Regulation S-K or are incorporated by reference to previous filings.

     3.1 Articles of Restatement of Articles of Incorporation (6)
     3.2 Amended Bylaws (8)
     4.1  Specimen Class A Stock Certificate (1)
     4.2  Specimen Class C Stock Certificate (1)
     4.3  Specimen Preferred Stock Certificate and Certificate of Designation of
          Preferred Stock (1)
     10.1 Restated and Amended Employee Stock Ownership Plan and Trust Agreement
          (1)
     10.2 2000 Director Stock Option Plan (3)
     10.3 2003 Stock Option Plan (7)
     10.4 Deferred Compensation Agreement with George R. Quist (2)
     10.5 Promissory Note with George R. Quist (4)
     10.6 Deferred Compensation Plan (5)
     10.7 Stock  Purchase  Agreement  with  Paramount  Security  Life  Insurance
          Company (9)
     10.8 Reinsurance Agreement between Security National Life Insurance Company
          and Guaranty Income Life Insurance Company(10)
     10.9 Employment agreement with J. Lynn Beckstead, Jr.(10)
     10.10 Employment agreement with Scott M. Quist (11)
     10.11 Agreement and Plan of  Reorganization  among  Security  National Life
          Insurance Company,  SSLIC Holding Company,  and Southern Security Life
          Insurance Company (12)
     10.12 Agreement and Plan of Merger,  among Security National Life Insurance
          Company,  SSLIC Holding Company,  and Southern Security Life Insurance
          Company (13)
     10.13 Agreement  to Repay  Indebtedness  and Convey  Option  with  Monument
          Title, LLC. (13)
     10.14 Stock  Purchase  Agreement  among  Security  National Life  Insurance
          Company,  Southern Security Life Insurance Company, Memorial Insurance
          Company of America, and the shareholders of Memorial Insurance Company
          (14)
     10.15 Reinsurance   Agreement  between  Security  National  Life  Insurance
          Company and Memorial Insurance Company of America(15)
     10.16 Trust Agreement  between Security National Life Insurance Company and
          Memorial Insurance Company of America(15)
     10.17 Promissory  Note  between  Memorial  Insurance  Company  as Maker and
          Security National Life Insurance Company as Payee(15)
     10.18 Security  Agreement between Memorial  Insurance Company as Debtor and
          Security National Life Insurance Company as Secured Party(15)
     10.19 Surplus  Contribution  Note  between  Memorial  Insurance  Company of
          America  as Maker and  Southern  Security  Life  Insurance  Company as
          Payee(15)
     10.20 Guaranty  Agreement by Security  National Life Insurance  Company and
          Southern Security Life Insurance Company as Guarantors(15)
     10.21 Administrative  Services  Agreement  between  Security  National Life
          Insurance Company and Memorial Insurance Company of America(15)
     10.22 Reinsurance   Agreement  between  Security  National  Life  Insurance
          Company and Southern Security Life Insurance Company(16)
     10.23 Trust  Agreement  among  Security  National Life  Insurance  Company,
          Southern  Security  Life  Insurance  Company and Zions First  National
          Bank(16)
     10.24 Subsidiaries of the Registrant


<PAGE>

     31.1 Certification  pursuant  to 18 U.S.C.  Section  1350,  as  enacted  by
          Section 302 of the Sarbanes-Oxley Act of 2002
     31.2 Certification  pursuant  to 18 U.S.C.  Section  1350,  as  enacted  by
          Section 302 of the Sarbanes-Oxley Act of 2002
     32.1Certification  pursuant to 18 U.S.C.  Section 1350, as adopted pursuant
          to Section 906 of the Sarbanes-Oxley Act of 2002
     32.2 Certification  pursuant to 18 U.S.C. Section 1350, as adopted pursuant
          to Section 906 of the Sarbanes-Oxley Act of 2002

     (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  Schedule  14A   Definitive   Proxy
          Statement,  filed August 29, 2000,  relating to the  Company's  Annual
          Meeting of Shareholders
     (4)  Incorporated by reference from Annual Report on Form 10-K, as filed on
          April 16, 2001
     (5)  Incorporated by reference from Annual Report on Form 10-K, as filed on
          April 3, 2002
     (6)  Incorporated  by  reference  from  Report  on Form  8-K/A  as filed on
          January 8, 2003
     (7)  Incorporated   by  reference  from  Schedule  14A   Definitive   Proxy
          Statement,  Filed on June 5, 2003,  relating to the  Company's  Annual
          Meeting of Shareholders
     (8)  Incorporated  by  reference  from  Report  on Form  10-Q,  as filed on
          November 14, 2003
     (9)  Incorporated  by reference from Report on Form 8-K, as filed March 30,
          2004
     (10) Incorporated  by reference from Report on Form 10-K, as filed on March
          30, 2004
     (11) Incorporated by reference from Report on Form 10-Q, as filed on August
          13, 2004
     (12) Incorporated  by reference from Report on Form 8-K, as filed on August
          30, 2004
     (13) Incorporated  by reference from Report on Form 10-K, as filed on March
          31, 2005
     (14) Incorporated  by  reference  from  Report  on Form  8-K,  as  filed on
          September 27, 2005
     (15) Incorporated by reference from Report on Form 8-K, as filed on January
          5, 2006
     (16) Incorporated by reference from Report on Form 8-K, as filed on January
          11, 2006


    (b) Reports on Form 8-K:

          Current Report on Form 8-K, as filed on January 5, 2006
          Current Report on Form 8-K, as filed on January 11, 2006
          Current Report on Form 8-K, as filed on March 27, 2006


<PAGE>



                                   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, 2006         By:    s/s George R. Quist
                                   -------------------
                                   George R. Quist
                                   Chairman of the Board and Chief
                                   Executive Officer
                                   (Principal Executive Officer)


DATED: May 15, 2006         By:    s/s Stephen M. Sill
                                   -------------------
                                   Stephen M. Sill
                                   Vice President, Treasurer and Chief
                                   Financial Officer
                                  (Principal Financial and Accounting Officer)


<PAGE>


                                  Exhibit 31.1

                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss. 1350,
                                  AS ENACTED BY
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002


I, George R. Quist, certify that:

1. I have  reviewed  this  quarterly  report on Form 10-Q of  Security  National
Financial Corporation.

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15-d-15(e)) for the registrant to have:

     (a)  Designed  such  disclosure  controls  and  procedures,  or caused such
disclosure  controls and  procedures to be designed  under our  supervision,  to
ensure that  material  information  relating to the  registrant,  including  its
consolidated subsidiaries,  is made known to us by others within those entities,
particularly during the period covered in which this report is being prepared;

     (b) Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions  about the effectiveness
of the disclosure  controls and procedures,  as of the end of the period covered
by this report based on such evaluation; and

     (c)  Disclosed  in this  report  any  change in the  registrant's  internal
control over financial  reporting  that occurred  during the  registrant's  most
recent fiscal quarter (the registrant's  fourth fiscal quarter in the case of an
annual  report)  that  has  materially  affected,  or is  reasonably  likely  to
materially affect, the registrant's  internal control over financial  reporting;
and

5. The registrant's other certifying officers and I have disclosed, based on our
most recent  evaluation of internal  control over  financial  reporting,  to the
registrant's auditors and the audit committee of registrant's board of directors
(or persons performing the equivalent functions):

     (a) All significant  deficiencies and material  weaknesses in the design or
operation of internal  control over  financial  reporting  which are  reasonably
likely  to  adversely  affect  the  registrant's  ability  to  record,  process,
summarize and report financial information; and

     (b) Any fraud,  whether or not material,  that involves management or other
employees who have a significant role in the registrant's internal controls over
financial reporting.

Date: May 15, 2006

                                    By:      George R. Quist
                                             Chairman of the Board and
                                             Chief Executive Officer


<PAGE>


                                  Exhibit 31.2

                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss. 1350,
                                  AS ENACED BY
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002


I, Stephen M. Sill, certify that:

1. I have  reviewed  this  quarterly  report on Form 10-Q of  Security  National
Financial Corporation.

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officer  and  I  are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15-d-15(e)) for the registrant to have:

     (a)  Designed  such  disclosure  controls  and  procedures,  or caused such
disclosure  controls and  procedures to be designed  under our  supervision,  to
ensure that  material  information  relating to the  registrant,  including  its
consolidated subsidiaries,  is made known to us by others within those entities,
particularly during the period covered in which this report is being prepared;

     (b) Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions  about the effectiveness
of the disclosure  controls and procedures,  as of the end of the period covered
by this report based on such evaluation; and

     (c)  Disclosed  in this  report  any  change in the  registrant's  internal
control over financial  reporting  that occurred  during the  registrant's  most
recent fiscal quarter (the registrant's  fourth fiscal quarter in the case of an
annual  report)  that  has  materially  affected,  or is  reasonably  likely  to
materially affect, the registrant's  internal control over financial  reporting;
and

5. The registrant's other certifying officers and I have disclosed, based on our
most recent  evaluation of internal  control over  financial  reporting,  to the
registrant's auditors and the audit committee of registrant's board of directors
(or persons performing the equivalent functions):

     (a) All significant  deficiencies and material  weaknesses in the design or
operation of internal  control over  financial  reporting  which are  reasonably
likely  to  adversely  affect  the  registrant's  ability  to  record,  process,
summarize and report financial information; and

     (b) Any fraud,  whether or not material,  that involves management or other
employees who have a significant role in the registrant's internal controls over
financial reporting.

Date:  May 15, 2006

                                      By:      Stephen M. Sill
                                               Vice President, Treasurer and
                                               Chief Financial Officer


<PAGE>



                                  EXHIBIT 32.1
                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss. 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In  connection  with  the  Quarterly  Report  of  Security  National   Financial
Corporation  (the  "Company") on Form 10-Q for the period ending March 31, 2005,
as filed with the  Securities  and Exchange  Commission  on the date hereof (the
"Report"), I, George R. Quist, Chairman of the Board and Chief Executive Officer
of the Company,  certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge
and belief:

(1)  the Report fully complies with the  requirements  of Section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

(2)  the information  contained in the Report fairly  presents,  in all material
     respects, the financial condition and result of operations of the Company.


Date:    May 15, 2006                   By:   George R. Quist
                                              Chairman of the Board
                                              and Chief Executive Office


                                  EXHIBIT 32.2
                            CERTIFICATION PURSUANT TO
                               18 U.S.C. ss. 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In  connection  with  the  Quarterly  Report  of  Security  National   Financial
Corporation  (the  "Company") on Form 10-Q for the period ending March 31, 2006,
as filed with the  Securities  and Exchange  Commission  on the date hereof (the
"Report"),  I, Stephen M. Sill,  Vice  President,  Treasurer and Chief Financial
Officer of the Company,  certify,  pursuant to 18 U.S.C.  ss.  1350,  as adopted
pursuant to Section 906 of the  Sarbanes-Oxley Act of 2002, that, to the best of
my knowledge and belief:

(1)  the Report fully complies with the  requirements  of Section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

(2)  the information  contained in the Report fairly  presents,  in all material
     respects, the financial condition and result of operations of the Company.


Date:    May 15, 2006                    By:   Stephen M. Sill
                                               Vice President, Treasurer and
                                               Chief Financial Officer