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                              AMENDED AND RESTATED
                           CERTIFICATE OF DESIGNATION
                                       OF
                              AMENDED AND RESTATED
                            ARTICLES OF INCORPORATION
                                       OF
                              HEALTHAXIS.COM, INC.

         HEALTHAXIS.COM, INC., a Pennsylvania corporation (the "Corporation"),
acting pursuant to Section 1522 of the Pennsylvania Business Corporation Law,
does hereby submit the following Certificate of Designation of Series and
Determination of Rights and Preferences of its Series D Convertible Preferred
Stock.

         FIRST: The name of the Corporation is HealthAxis.com, Inc.

         SECOND: By unanimous written consent of the Board of Directors of the
Corporation dated December 8, 1999 the following resolutions were duly adopted:

         WHEREAS the Board of Directors of the Corporation is authorized,
subject to limitations prescribed by law and by the provisions of Article 5 of
the Corporation's Amended and Restated Articles of Incorporation to establish
and fix the number of shares to be included in any series of Preferred Stock and
the designation, rights, preferences and limitations of the shares of each
series; and

         NOW, THEREFORE, BE IT RESOLVED that pursuant to Article 5 of the
Corporation's Amended and Restated Articles of Incorporation, the designation,
rights, preferences, powers, restrictions and limitations applicable to the
Series D Preferred Stock be and hereby are revised and set forth in this Amended
and Restated Certificate of Designation which supplements Article 5 as follows:

      1. Dividends.

         (a) The holder of each share of Series D Preferred Stock shall be
entitled to receive such dividends as declared by the Board of Directors of the
Corporation in its discretion, out of funds legally available for that purpose.
Dividends on each share of Series D Preferred Stock, if and when declared, shall
accrue from the applicable date of declaration so that if at any time Accrued
Dividends (as hereinafter defined) upon the Series D Preferred Stock shall not
have been paid, the amount and deficiency in such dividends shall be fully paid
(but without interest) or dividends which have been declared on the shares of
the Series D Preferred Stock and a sum sufficient for the payment thereof shall
have been set apart for such payment, before any dividend shall be declared or
paid or any other distribution ordered or made upon shares of common stock of
the Corporation ("Common Stock") or any shares of Preferred Stock of the
Corporation which are junior to the Series D Preferred Stock with respect to the
payment of dividends or distribution of assets of the Corporation or both,
including without limitation the Series A Preferred Stock, (the "Junior Stock")
and before any sum or sums shall be set aside for or applied to the purchase or
redemption of any shares of Common Stock or the Junior Stock, other than the
repurchase by the Corporation of shares of Common Stock from any employee
thereof upon cessation of their employment, which shall under all circumstances

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be permitted notwithstanding the foregoing; provided, however, that in the event
the Corporation proposes to pay any dividend upon the shares of Common Stock or
any class of Junior Stock, dividends shall have been declared on the shares of
Series D Preferred Stock and a sum paid to the holders thereof or a sum
sufficient for the payment thereof shall have been set apart for such payment,
which sum equals a dividend per share of Series D Preferred Stock which is not
less than the proposed dividend per share to be paid on the Common Stock or such
other Junior Stock, as the case may be (determined, in the case of the Series D
Preferred Stock, on an as converted basis).

         (b) "Accrued Dividends" shall mean that amount that shall be equal to
dividends declared by the Board of Directors, if any, on the Series D Preferred
Stock (plus any other dividends declared but unpaid) for the period of time
elapsed from the declaration date by the board to the date as of which Accrued
Dividends are to be paid less an amount equal to all dividends paid on the
Series D Preferred Stock through the date of calculation thereof.

         (c) "set apart for payment" shall be deemed to include the recording by
the Corporation in its accounting ledgers of any accounting or bookkeeping entry
which indicates, pursuant to a declaration of dividends or other distribution by
the Board of Directors of the Corporation, the allocation of funds to be so paid
on any series or class of capital stock of the Corporation; provided, however,
that if any funds for any class of series of Junior Stock or any class of series
of stock ranking on a parity with the Series D Preferred Stock as to the payment
of dividends are placed in a separate account of the Corporation or delivered to
a disbursing, paying or other similar agent, then "set apart for payment" with
respect to the Series D Preferred Stock shall mean placing such funds in a
separate account or delivering such funds to a disbursing, paying or other
similar agent.

        2. Liquidation.

         (a) Upon a Liquidation (as defined below), after payment or provision
for payment of the debts and other liabilities of the Corporation and all
amounts which the holders of the Series B Preferred Stock or any other class of
capital stock ranking senior to the Series D Preferred Stock shall be entitled
to receive upon such Liquidation:

             (i) the holders of Series D Preferred Stock shall be entitled to
receive, on a pari passu basis with the holders of the Series C Preferred Stock
and prior and in preference to the holders of Common Stock and Series A
Preferred Stock, out of the remaining assets of the Corporation available for
distribution to its stockholders with respect to each share of Series D
Preferred Stock, an amount (the "Series D Preference Amount") per share of
Series D Preferred Stock equal to the sum of (A) $12.00 (the "Original Issuance
Price" of the Series D Preferred Stock) and (B) all Accrued Dividends payable,
if any, with respect to such shares under Section 1. If upon any Liquidation the
assets of the Corporation available for distribution to its stockholders shall
be insufficient to pay the holders of Series D Preferred Stock the full
respective Series D Preference Amounts to which they shall be entitled, the
holders of Series D Preferred Stock shall share ratably in any distribution of
assets based on the amounts which would be payable to them on or with respect to
the shares of Series D Preferred Stock held by them upon such distribution

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pursuant to this Section 2 as if all amounts payable on or with respect to such
shares were paid in full.

             (ii) After the distribution to the holders of Series B Preferred
Stock, Series C Preferred Stock and Series D Preferred Stock the full amounts of
their preference, the holders of Series A Preferred Stock shall be entitled to
receive, prior and in preference to the holders of Common Stock, out of the
remaining assets of the Corporation available for distribution to its
stockholders with respect to each share of Series A Preferred Stock an amount
per share of Series A Preferred Stock equal to its liquidation preference as
currently provided (the "Series A Preference Amount"). If upon any Liquidation
the assets of the Corporation available for distribution to its stockholders
shall be insufficient to pay the holders of Series A Preferred Stock the full
respective Series A Preference Amounts to which they shall be entitled, the
holders of Series A Preferred Stock shall share ratably in any distribution of
assets based on the amounts which would be payable to them on or with respect to
the shares of Series A Preferred Stock held by them upon such distribution
pursuant to this Section 2 as if all amounts payable on or with respect to such
shares were paid in full.

             (iii) After distribution to the holders of Series B Preferred Stock
of the full Series B Preference Amount as set forth in the Certificate of
Designation related to the Series B Preferred Stock and to the holders of Series
C Preferred Stock of the full Series C Preference Amount as set forth in the
Certificate of Designation related to the Series C Preferred Stock (the "Series
C Preference Amount"), distribution to holders of Series D Preferred Stock of
the full Series D Preference Amount set forth in Section 2(a)(i), and
distribution to the holders of Series A Preferred Stock of the full Series A
Preference Amount as set forth in the Certificate of Designations related to the
Series A Preferred Stock, the holders of Series A Preferred Stock, Series B
Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Common
Stock shall be entitled to receive, on a pari passu basis (determined, in the
case of Series A Preferred, Series B Preferred, Series C Preferred Stock and
Series D Preferred Stock, on an "as converted" basis), the remaining assets of
the Corporation available for distribution to its stockholders.

         (b) For purposes of this Section 2, a Corporate Transaction (as defined
below) shall be treated as a Liquidation and shall entitle the holders of
Preferred Stock to receive, upon the consummation of such Corporate Transaction,
consideration in the same form as is to be provided in such Corporate
Transaction (whether cash, securities, other property or any combination
thereof), having a value (as determined in accordance with the next sentence)
equivalent to the amounts to which such holders of Series A Preferred Stock,
Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock
would otherwise have been entitled pursuant to Section 2(a) assuming such
Corporate Transaction had constituted a Liquidation within the meaning of said
Section 2(a).

         (c) As used herein, the following terms shall have the following
respective meanings:

             (i) "Corporate Transaction" means (A) any consolidation or merger
of the Corporation, other than any merger or consolidation resulting in the
holders of the capital stock of the Corporation entitled to vote for the
election of directors holding a majority of the capital stock of the surviving

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or resulting entity entitled to vote for the election of directors, (B) any
person or entity (including any affiliates thereof) becoming the holder of a
majority of the capital stock of the Corporation entitled to vote for the
election of directors, or (C) any sale or other disposition by the Corporation
of all or substantially all of its assets. Notwithstanding the foregoing, the
merger of the Corporation with Insurdata Incorporated shall not constitute a
Corporate Transaction.

             (ii) "Liquidation" means any voluntary or involuntary liquidation,
dissolution or winding up of the affairs of the Corporation, other than any
dissolution, liquidation or winding up in connection with any reincorporation of
the Corporation in another jurisdiction.

             (iii) "Original Issuance Date" means the date of original issuance
of the first share of Series D Preferred Stock.

      3. Voting Rights.

         (a) In addition to the rights provided by law or in the Corporation's
By-laws, each share of Series D Preferred Stock shall entitle the holder thereof
to such number of votes as shall equal the nearest whole number of shares of
Common Stock into which such share of Series D Preferred Stock is then
convertible pursuant to Section 4. Except as provided in paragraph (b) below or
as otherwise provided by law, the holders of Series D Preferred Stock, shall be
entitled to vote on all matters as to which holders of Common Stock shall be
entitled to vote, in the same manner and with the same effect as such holders of
Common Stock, voting together with the holders of Common Stock as one class.

         (b) The Corporation shall not, without the affirmative consent or
approval of the holders of at least a majority of the shares of Series D
Preferred Stock then outstanding, voting as a separate class:

             (1) authorize, create, designate or establish any class or series
of capital stock or any note, debenture, bond or other security or other
instrument convertible into or exchangeable for any security ranking senior or
pari passu with the Series D Preferred Stock or reclassify any shares of Common
Stock or any other shares of any class or series of Preferred Stock into shares
having any preference or priority as to dividends or the distribution of assets
superior or pari passu to any such preference or priority of the Series D
Preferred Stock;

             (2) in any other manner amend or modify the powers, privileges,
preferences, or rights, or qualifications, limitations or restrictions of the
Series D Preferred Stock as to materially adversely affect the holders thereof;

             (3) amend, repeal or modify any provision of the Amended and
Restated Articles of Incorporation of the Corporation so as to materially
adversely affect the powers, privileges, preferences or rights, or
qualifications, limitations or restrictions, of the shares of Series D Preferred
Stock;

             (4) amend the By-laws of the Corporation in any manner that would
materially adversely affect the powers, preferences or rights, or
qualifications, limitations or restrictions of the Series D Preferred Stock;

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             (5) increase the total number of authorized shares of Series D
Preferred Stock;

             (6) consummate any Corporate Transaction;

             (7) directly or indirectly pay or declare any dividend or make any
distribution upon, or redeem, retire or repurchase or otherwise acquire, any
shares of capital stock or other securities of the Corporation other than the
Series B Preferred Stock or Series C Preferred Stock (other than the repurchase
of Common Stock from employees upon termination or employment); and

             (8) consummate any transaction whereby the Corporation shall obtain
control, directly or indirectly, of an insurance corporation.

      4. Optional Conversion.

         (a) Upon the terms set forth in this Section 4, the holder of shares of
Series D Preferred Stock shall have the right, at the holder's option, at any
time and from time to time, to convert any of such shares into the number of
fully paid and nonassessable shares of Common Stock equal to the quotient
obtained by dividing (i) the Original Issuance Price of the Series D Preferred
Stock by (ii) the Conversion Price (as defined below) therefor, as last adjusted
and then in effect, by surrender of the certificates representing the shares of
Series D Preferred Stock to be converted. The conversion price per share at
which shares of Common Stock shall be issuable upon conversion of shares of
Series D Preferred Stock shall initially be the Original Issuance Price for the
Series D Preferred Stock (the "Conversion Price"), subject to adjustment as set
forth in paragraph (d) below.

         (b) The holder of the shares of Series D Preferred Stock may exercise
the conversion right pursuant to paragraph (a) above by delivering to the
Corporation the certificate or certificates for the shares to be converted, duly
endorsed or assigned in blank or to the Corporation (if required by it),
accompanied by written notice stating that the holder elects to convert such
shares and stating the name or names (with address) in which the certificate or
certificates for the shares of Common Stock are to be issued. Conversion shall
be deemed to have been effected on the date when such delivery is made (the
"Conversion Date"). As promptly as practicable thereafter, the Corporation shall
issue and deliver to at such holder's address appearing on the Corporation's
records or upon the written order of such holder, to the place designated by
such holder, a certificate or certificates for the number of full shares of
Common Stock to which such holder is entitled, and a cash amount in respect of
any fractional interest in a share of Common Stock as provided in paragraph (c)
below. The person in whose name the certificate or certificates for Common Stock
are to be issued shall be deemed to have become a stockholder of record on the
applicable Conversion Date unless the transfer books of the Corporation are
closed on that date, in which event such person shall be deemed to have become a
stockholder of record on the next succeeding date on which the transfer books
are open, but the Conversion Price shall be that in effect on the Conversion
Date. Upon conversion of only a portion of the number of shares covered by a
certificate representing shares of Series D Preferred Stock surrendered for
conversion, the Corporation shall issue and deliver to or upon the written order
of the holder of the certificate so surrendered for conversion, at the expense
of the Corporation, a new certificate covering the number of shares of Series D
Preferred Stock representing the unconverted portion of the certificate so
surrendered.

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         (c) No fractional shares of Common Stock or scrip shall be issued upon
conversion of shares of Series D Preferred Stock. The number of full shares of
Common Stock issuable upon conversion of Series D Preferred Stock shall be
computed on the basis of the aggregate number of shares of Series D Preferred
Stock to be converted. Instead of any fractional shares of Common Stock which
would otherwise be issuable upon conversion of any shares of Series D Preferred
Stock, the Corporation shall pay a cash adjustment in respect of such fractional
interest in an amount equal to the product of (i) the price of one share of
Common Stock as determined in good faith by the Board of Directors and (ii) such
fractional interest. The holders of fractional interests shall not be entitled
to any rights as stockholders of the Corporation in respect of such fractional
interests.

         (d) The Conversion Price applicable to the Series D Preferred Stock
shall be subject to adjustment from time to time as follows:

             (i) If the Corporation shall at any time following the Original
Issuance Date issue any shares of Common Stock (including shares of Common Stock
deemed to be issued pursuant to subdivision (3) of clause (ii) below) other than
Excluded Stock (as defined in clause (iii) below), without consideration or for
a consideration per share less than the Conversion Price applicable to the
Series D Preferred Stock in effect immediately prior to each such issuance of
equity, then the applicable Conversion Price in effect immediately prior to each
such issuance shall forthwith be lowered to a price equal to the amount of such
lower consideration per share.

             (ii) For the purposes of any adjustment of the Conversion Price
pursuant to clause (i), the following provisions shall be applicable:

                  (1) In the case of the issuance of Common Stock for cash in a
public offering or private placement, the consideration shall be deemed to be
the amount of cash paid therefor after deducting therefrom any discounts,
commissions or placement fees payable by the Corporation to any underwriter or
placement agent in connection with the issuance and sale thereof.

                  (2) In the case of the issuance of Common Stock for a
consideration in whole or in part other than cash, the consideration other than
cash shall be deemed to be the Fair Market Value thereof (such Fair Market Value
being determined as provided in the definition thereof but with reference to
such consideration), irrespective of any accounting treatment.

                  (3) The issuance after the Original Issuance Date of options
or warrants to purchase or rights to subscribe for Common Stock, securities by
their terms convertible into or exchangeable for Common Stock, or options or
warrants to purchase or rights to subscribe for such convertible or exchangeable
securities shall be deemed to be an issuance of Common Stock for purposes of
clauses (i) and (ii) above. In the case of any such issuance of options or
warrants to purchase or rights to subscribe for Common Stock, securities by
their terms convertible into or exchangeable for Common Stock, or options or
warrants to purchase or rights to subscribe for such convertible or exchangeable
securities:

                      a. the aggregate maximum number of shares of Common Stock
deliverable upon exercise of such options or warrants to purchase or rights to
subscribe for Common Stock shall be deemed to have been issued at the time such

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options, warrants or rights were issued and for a consideration equal to the
consideration (determined in the manner provided in subdivisions (1) and (2)
above), if any, received by the Corporation upon the issuance of such options,
warrants or rights plus the minimum purchase price provided in such options or
rights for the Common Stock covered thereby;

                      b. the aggregate maximum number of shares of Common Stock
deliverable upon conversion of or in exchange for any such convertible or
exchangeable securities or upon the exercise of options to purchase or rights to
subscribe for such convertible or exchangeable securities and subsequent
conversion or exchange thereof shall be deemed to have been issued at the time
such securities, options, or rights were issued and for a consideration equal to
the consideration received by the Corporation for any such securities and
related options or rights (excluding any cash received on account of accrued
interest or accrued dividends), plus the additional minimum consideration, if
any, to be received by the Corporation upon the conversion or exchange of such
securities or the exercise of any related options or rights (the consideration
in each case to be determined in the manner provided in subdivisions (1) and (2)
above);

                      c. on any change in the number of shares or exercise price
of Common Stock deliverable upon exercise of any such options or rights or
conversions of or exchange for such securities, other than a change resulting
from the anti-dilution provisions thereof, the applicable Conversion Price shall
forthwith be readjusted to such Conversion Price as would have been obtained had
the adjustment made upon the issuance of such options, rights or securities not
converted prior to such change or options or rights related to such securities
not converted prior to such change been made upon the basis of such change; and

                      d. on the expiration of any such options or rights, the
termination of any such rights to convert or exchange or the expiration of any
options or rights related to such convertible or exchangeable securities, the
applicable Conversion Price shall forthwith be readjusted to such Conversion
Price as would have been obtained had the adjustment made upon the issuance of
such options, rights, securities or options or rights related to such securities
been made upon the basis of the issuance of only the number of shares of Common
Stock actually issued upon the exercise of such options or rights, upon the
conversion or exchange of such securities, or upon the exercise of the options
or rights related to such securities and subsequent conversion or exchange
thereof.

             (iii) "Excluded Stock" means (A) up to 8,600,000 shares of Common
Stock, and options or warrants therefor (subject to equitable adjustment for
stock splits, stock dividends, combinations and like occurrences), issued or
granted from time to time to employees, directors and officers of and
consultants to the Corporation pursuant to agreements, plans or arrangements
approved or to be approved by the Board of Directors; provided that, any shares
of Common Stock, options or warrants issued after the date of filing of the this
Certificate of Designation for the Series D Preferred Stock must be issued at a
price of not less than $10.00; (B) shares of Common Stock issued upon conversion
of shares of any series of Preferred Stock; (C) shares issued pursuant to
warrants previously granted to America Online, Inc., UICI, ING Baring Furman
Selz LLC and First Health Group Corp; and (D) shares of Common Stock issued by
the Corporation as a stock dividend or stock split or upon any subdivision,
split-up or combination of shares of Common Stock.

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             (iv) If, at any time after the Original Issuance Date, the number
of shares of Common Stock outstanding is increased by a stock dividend payable
in shares of Common Stock or by a subdivision or split-up of shares of Common
Stock, then, following the record date for the determination of holder of Common
Stock entitled to receive such stock dividend, subdivision or split-up, the
Conversion Price shall be appropriately decreased so that the number of shares
of Common Stock issuable on conversion of each share of Series D Preferred Stock
shall be increased in proportion to such increase in outstanding shares.

             (v) If, at any time after the Original Issuance Date, the number of
shares of Common Stock outstanding is decreased by a combination of the
outstanding shares of Common Stock, then, following the record date for such
combination, the Conversion Price shall be appropriately increased so that the
number of shares of Common Stock issuable on conversion of each share of
Preferred Stock shall be decreased in proportion to such decrease in outstanding
shares.

             (vi) In the event of any capital reorganization of the Corporation,
any reclassification of the stock of the Corporation (other than a change in par
value or from par value to no par value or from no par value to par value or as
a result of a stock dividend or subdivision, split-up or combination of shares),
or any consolidation or merger of the Corporation (other than a consolidation or
merger in which the Corporation is the continuing corporation and which does not
result in any change in the Common Stock), each share of Series D Preferred
Stock shall after such reorganization, reclassification, consolidation or merger
(unless, in the case of a consolidation or merger, payment shall have been made
to the holders of Series D Preferred Stock of the full amount to which they
shall have been entitled pursuant to Section 2 hereof) be convertible into the
kind and number of shares of stock or other securities or property of the
Corporation or of the corporation resulting from such consolidation or surviving
such merger to which the holder of the number of shares of Common Stock
deliverable (immediately prior to the time of such reorganization,
reclassification, consolidation or merger) upon conversion of such share of
Series D Preferred Stock would have been entitled upon such reorganization,
reclassification, consolidation or merger. The provisions of this clause shall
similarly apply to successive reorganizations, reclassifications, consolidations
or mergers.

             (vii) All calculations under this paragraph shall be made to the
nearest one hundredth (1/100) of a cent or the nearest one tenth (1/10) of a
share, as the case may be.

             (viii) In any case in which the provisions of this paragraph (d)
shall require that an adjustment shall become effective immediately after a
record date of an event, the Corporation may defer until the occurrence of such
event (A) issuing to the holder of any share of Preferred Stock converted after
such record date and before the occurrence of such event the shares of capital
stock issuable upon such conversion by reason of the adjustment required by such
event in addition to the shares of capital stock issuable upon such conversion
before giving effect to such adjustments, and (B) paying to such holder any
amount in cash in lieu of a fractional share of capital stock pursuant to
paragraph (c) above; provided, however, that the Corporation shall deliver to
such holder an appropriate instrument evidencing such holder's right to receive
such additional shares and such cash.

         (e) Whenever the Conversion Price shall be adjusted as provided in
paragraph (d), the Corporation shall make available for inspection during

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regular business hours, at its principal executive offices or at such other
place as may be designated by the Corporation, a statement, signed by its chief
executive officer, showing in detail the facts requiring such adjustment and the
Conversion Price that shall be in effect after such adjustment. The Corporation
shall also cause a copy of such statement to be sent by first class certified
mail, return receipt requested and postage prepaid, to each holder of Series D
Preferred Stock as to which the Conversion Price shall be so adjusted at such
holder's address appearing on the Corporation's records. Where appropriate, such
copy may be given in advance and may be included as part of any notice required
to be mailed under the provisions of paragraph (f) below.

         (f) If the Corporation shall propose to take any action of the types
described in clauses (iv), (v) or (vi) of paragraph (d) above, the Corporation
shall give notice to each holder of shares of Series D Preferred Stock, in the
manner set forth in paragraph (e) above, which notice shall specify the record
date, if any, with respect to any such action and the date on which such action
is to take place. Such notice shall also set forth such facts with respect
thereto as shall be reasonably necessary to indicate the effect of such action
(to the extent such effect may be known at the date of such notice) on the
Conversion Price and the number, kind or class of shares or other securities or
property which shall be deliverable or purchasable upon the occurrence of such
action or deliverable upon conversion of shares of Series D Preferred Stock. In
the case of any action which would require the fixing of a record date, such
notice shall be given at least 20 days prior to the date so fixed, and in case
of all other action, such notice shall be given at least 30 days prior to the
taking of such proposed action. Failure to give such notice, or any defect
therein, shall not affect the legality or validity of any such action.

         (g) The Corporation shall reserve, and at all times from and after the
date of Original Issuance Date keep reserved, free from preemptive rights, out
of its authorized but unissued shares of Common Stock, solely for the purpose of
effecting the conversion of the shares of Series D Preferred Stock, sufficient
shares of Common Stock to provide for the conversion of all outstanding shares
of Series D Preferred Stock.

         (h) At any time the Corporation makes or fixes a record date for the
determination of holders of Common Stock entitled to receive a dividend or other
distribution payable in securities of the Corporation other than shares of
Common Stock, provision shall be made so that each holder of shares of Series D
Preferred Stock shall receive upon conversion thereof, in addition to the shares
of Common Stock receivable thereupon, the number of securities of the
Corporation which it would have received had its shares of Series D Preferred
Stock been converted into shares of Common Stock on the date of such event and
had such holder thereafter, during the period from the date of such event to and
including the date of conversion, retained such securities receivable by it
pursuant to this paragraph during such period, subject to the sum of all other
adjustments called for during such period under this Section 4 with respect to
the rights of such holder of shares of Series D Preferred Stock.

      5. Mandatory Conversion.

         (a) Upon the earlier of: (i) the consummation of the first underwritten
public offering for the account of the Corporation of its Common Stock pursuant
to a registration statement filed under the Securities Act of 1933, as amended,
(the "Securities Act") at a net offering price per share of Common Stock that

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represents a pre-offering market capitalization of no less than $200,000,000 and
with aggregate proceeds (net of underwriting discounts and commissions) to the
Corporation of not less than $25,000,000 (a "Qualified Public Offering"); or
(ii) the consummation of a Qualified Merger of the Corporation, each share of
Series D Preferred Stock then outstanding shall, by virtue of and simultaneously
with such Qualified Public Offering or Qualified Merger (as the case may be), be
deemed automatically converted into the number of fully paid and nonassessable
shares of Common Stock equal to the quotient obtained by dividing (i) the
Original Issuance Price of the Series D Preferred Stock by (ii) the applicable
Conversion Price, as last adjusted and then in effect.

         (b) As promptly as practicable after the date of consummation of any
Qualified Public Offering or Qualified Merger (as the case may be) and the
delivery to the Corporation of the certificate or certificates for the shares of
Series D Preferred Stock which have been converted, duly endorsed or assigned in
blank to the Corporation (if required by it), the Corporation shall issue and
deliver to or upon the written order of each holder of Series D Preferred Stock,
to the place designated by such holder, a certificate or certificates for the
number of full shares of Common Stock to which such holder is entitled, and a
cash amount in respect of any fractional interest in a share of Common Stock as
provided in paragraph (c) below. The person in whose name the certificate or
certificates for Common Stock are to be issued shall be deemed to have become a
holder of Common Stock of record on the date of such Qualified Public Offering
or Qualified Merger (as the case may be) and on such date the shares of Series D
Preferred Stock shall cease to be outstanding, whether or not the certificates
representing such shares have been received by the Corporation.

         (c) For purposes of this Section, the term "Qualified Merger" shall
mean an upstream merger of the Corporation with Provident American Corporation
("Provident") or the merger of the Corporation with a wholly-owned subsidiary of
Provident pursuant to which the Corporation shall be the primary operating
subsidiary of Provident and Provident's primary operations shall be within the
Corporation upon the following conditions:

             (i) the merger is approved, in addition to such vote as may
otherwise be required by applicable law, by a majority vote of holders of the
Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock
of the Corporation;

             (ii) the Corporation receives a fairness opinion from BancBoston
Robertson Stephens Inc. (or such other investment banking firm as approved by a
majority vote of the disinterested holders of the Series B, Series C and Series
D Preferred Stock) indicating that the merger is fair to the stockholders of the
Corporation, other than Provident and its subsidiaries, from a financial point
of view;

             (iii) the securities to be issued to holders of the Preferred Stock
upon the completion of the merger shall be registered with the Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended, freely
tradeable and listed on a national securities exchange or quoted on the NASDAQ
Stock Market; and

             (iv) the resulting entity has a market capitalization of at least
$200,000,000.

         (d) The Conversion Price in effect for purposes of a Qualified Public
Offering or Qualified Merger under this Section 5 shall be determined after
giving effect to the Conversion Price adjustment provisions set forth in Section
4 with respect to such Qualified Public Offering or Qualified Merger, as
applicable, in the same manner as they apply to the conversion of Series D
Preferred Stock pursuant to Section 4.

                                       10<PAGE>

                                 AMENDMENT NO. 1
                                       TO
                             SHAREHOLDERS' AGREEMENT

         THIS AMENDMENT NO. 1 (this "Amendment"), dated as of February 11, 2000,
to the Shareholders' Agreement, dated as of January 7, 2000 (the "Agreement"),
is made by and among HealthAxis.com, Inc., a Pennsylvania corporation (the
"Company"), UICI, a Delaware corporation ("UICI"), HealthAxis, Inc., (formerly
Provident American Corporation), a Pennsylvania corporation ("Provident"), and
Michael Ashker.

         WHEREAS, concurrently with the execution of this Amendment, UICI,
Michael Ashker, Edward W. LeBaron, Jr. and Dennis B. Maloney are entering into a
Voting Trust Agreement (the "Voting Trust Agreement") pursuant to which UICI is
depositing 10,103,207 shares of common stock, no par value, of the Company; and

         WHEREAS, as a result of the execution of the Voting Trust Agreement,
the parties desire to amend the Agreement to reflect the intent of the parties
with respect to the shares deposited under the Voting Trust Agreement.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained in this Amendment and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereby
amend the Agreement as follows:

1. Section 2(a) of the Agreement is hereby amended by adding the following
proviso a the end of the last sentence thereof:

   "; provided, however, that UICI shall have no obligation to vote or cause the
   vote of any shares of stock of the Company Beneficially Owned by it which
   shares are subject to the terms of that certain Voting Trust Agreement, dated
   as of February 11, 2000 among UICI and Michael Ashker, Edward W. LeBaron, Jr.
   and Dennis B. Maloney, as trustees thereunder"

2. Capitalized terms used in this Amendment but not specifically defined herein
shall have the meanings ascribed thereto in the Agreement.

3. Except as otherwise specifically modified hereby, the Agreement shall remain
in full force and effect.

4. This Amendment shall be governed by, and construed and enforced in accordance
with, the laws of the Commonwealth of Pennsylvania.

5. This Amendment may be executed in any number of counterparts, each of which
may be deemed an original and all of which together shall constitute one and the
same instrument.

                                    * * * * *
                                    ---------

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first above written.

                                        HEALTHAXIS.COM, INC.

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        UICI

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        HEALTHAXIS, INC.

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        ________________________________________
                                        Michael Ashker

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