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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 2lIywD16AMMzPIqxY5sPVw==

<SEC-DOCUMENT>0000004977-01-500066.txt : 20010611
<SEC-HEADER>0000004977-01-500066.hdr.sgml : 20010611
ACCESSION NUMBER:		0000004977-01-500066
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20010531
FILED AS OF DATE:		20010608

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AFLAC INC
		CENTRAL INDEX KEY:			0000004977
		STANDARD INDUSTRIAL CLASSIFICATION:	ACCIDENT & HEALTH INSURANCE [6321]
		IRS NUMBER:				581167100
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		
		SEC FILE NUMBER:	001-07434
		FILM NUMBER:		1656449

	BUSINESS ADDRESS:	
		STREET 1:		1932 WYNNTON RD
		CITY:			COLUMBUS
		STATE:			GA
		ZIP:			31999
		BUSINESS PHONE:		7063233431

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FAMILY CORP
		DATE OF NAME CHANGE:	19920306
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			SMITH JOSEPH W JR
	CENTRAL INDEX KEY:			0001075307
	STANDARD INDUSTRIAL CLASSIFICATION:	 []
<RELATIONSHIP>OFFICER

FILING VALUES:
	FORM TYPE:		4

BUSINESS ADDRESS:	
	STREET 1:		1932 WYNNTON ROAD
	CITY:			COLUMBUS
	STATE:			GA
	ZIP:			31999
	BUSINESS PHONE:		7065963499

MAIL ADDRESS:	
	STREET 1:		1932 WYNNTON ROAD
	CITY:			COLUMBUS
	STATE:			GA
	ZIP:			31999
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>joe.txt
<DESCRIPTION>MAY 2001 INSIDER
<TEXT>

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16.
    Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
   Smith Jr., Joseph W
   8880 River Road


   Columbus, GA  31904
2. Issuer Name and Ticker or Trading Symbol
   AFLAC INCORPORATED (AFL)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)

4. Statement for Month/Year
   05/01
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   [ ] Director                   [ ] 10% Owner
   [X] Officer (give title below) [ ] Other (specify below)
   Sr. Vice-President
   Chief Investment Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
   [X] Form filed by One Reporting Person
   [ ] Form filed by More than One Reporting Person

<TABLE>
<CAPTION>
Table I   Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Security                           2)Trans-    3.Trans- 4.Securities Acquired(A)      5)Amount of    6)  7)Nature of
                                              action      action   or Disposed of (D)            Securities         Indirect
                                              Date        Code                   A               Beneficially   D   Beneficial
                                              (Month/                            or              Owned at       or  Ownership
                                              Day/Year)   Code V   Amount        D  Price        End of Month   I
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                                           <C>         <C>      <C>           <C><C>          <C>            <C><C>
Common Stock                                  05/17/01    M        9,200         A  $4.7084                     D  Direct
Common Stock                                  05/17/01    F        1,333         D  $32.5050                    D  Direct
Common Stock                                  05/21/01    M        15,000        A  $4.7084                     D  Direct
Common Stock                                  05/21/01    S        15,000        D  $32.5000     79,571         D  Direct

<CAPTION>
Table II (PART 1)  Derivative Securities Acquired, Disposed of, or Beneficially Owned  (Columns 1 through 6)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative          2)Conversion    3)Trans-       4)Trans-  5)Number of Derivative            6)Date Exercisable and
Security                       or Exercise     action         action    Securities Acquired (A)           Expiration Date
                               Price of        Date           Code      or Disposed of (D)
                               Derivative
                               Security                       Code  V   A                D                Exercisable  Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>             <C>            <C>       <C>              <C>              <C>          <C>
Employee Stock Option (right to$4.7084         05/17/01       M                          9,200            06/28/93     06/28/03
 buy)
Employee Stock Option (right to$4.7084         05/21/01       M                          15,000           06/28/93     06/28/03
 buy)

<CAPTION>
Table II (PART 2)  Derivative Securities Acquired, Disposed of, or Beneficially Owned  (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative          3)Trans-  7)Title and Amount                           8)Price     9)Number of   10) 11)Nature of
Security                       action    of Underlying                                of Deri-    Derivative        Indirect
                               Date      Securities                                   vative      Securities    D   Beneficial
                                                                        Amount or     Security    Beneficially  or  Ownership
                                                                        Number of                 Owned at      I
                  -                      Title                          Shares                    End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>       <C>                            <C>           <C>         <C>           <C> <C>
Employee Stock Option (right to05/17/01  Common Stock                   9,200                                   D   Direct
 buy)
Employee Stock Option (right to05/21/01  Common Stock                   15,000                    98,848        D   Direct
 buy)

<FN>
Explanation of Responses:


</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ By: Patricia A. Bell
    For: Joseph W. Smith Jr
DATE
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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