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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,
 AzYC3Ik62IHD3KTPSJFmEKb3c0eoDdkpzEXk6w0cqwslH19md4nOD/DwAntmA473
 9YQTN0WiOQoyAEWbUdkp9A==

<SEC-DOCUMENT>0000004977-03-000008.txt : 20030106
<SEC-HEADER>0000004977-03-000008.hdr.sgml : 20030106
<ACCEPTANCE-DATETIME>20030106095725
ACCESSION NUMBER:		0000004977-03-000008
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030102
FILED AS OF DATE:		20030106

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPENCER KATHELEN V
		CENTRAL INDEX KEY:			0001172940
		RELATIONSHIP:				OFFICER

	FILING VALUES:
		FORM TYPE:		4

	BUSINESS ADDRESS:	
		STREET 1:		314 BARSCHALL DR
		CITY:			COLUMBUS
		STATE:			GA
		ZIP:			31904-2202

	MAIL ADDRESS:	
		STREET 1:		314 BARSCHALL DR
		CITY:			COLUMBUS
		STATE:			GA
		ZIP:			31904-2202

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:		1934 Act
		SEC FILE NUMBER:	001-07434
		FILM NUMBER:		03504049

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

	MAIL ADDRESS:	
		STREET 1:		1932 WYNNTON ROAD
		CITY:			COLUMBUS
		STATE:			GA
		ZIP:			31999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FAMILY CORP
		DATE OF NAME CHANGE:	19920306
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>spencer.txt
<DESCRIPTION>JAN 02 2003 FORM 4
<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)
   Spencer, Kathelen
   314 Barschall Drive


   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/Day/Year
   1/2/03
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   [ ] Director                   [ ] 10% Owner
   [X] Officer (give title below) [ ] Other (specify below)
   Exec. Vice President
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                                  01/02/03    M        63,704        A  $4.7084                     D  Direct
Common Stock                                  01/02/03    F        9,599         D  $31.2500     140,870        D  Direct
Common Stock                                                                                     5,627          I  401(K) Plan
Common Stock                                                                                     1,800          I  Custodian/Childre
                                                                                                                   n
Common Stock                                                                                     40,920         I  Partnership
Common Stock                                                                                     110,916        I  Spouse
Common Stock                                                                                     52,519         I  Spouse Cust/Child
                                                                                                                   ren

<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         01/02/03       M                          63,704           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 to01/02/03  Common Stock                   63,704                    24,290        D   Direct
 buy)

<FN>
Explanation of Responses:


</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ By: Patricia A. Bell
    For: Kathelen Spencer
DATE 01/06/03


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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