10-Q/A

                 SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                             Form 10-Q/A
             QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
              OF THE SECURITIES EXCHANGE ACT OF 1934



For Quarter Ended September 30, 1994     Commission File Number 1-6028

                     LINCOLN NATIONAL CORPORATION

        (Exact name of registrant as specified in its charter)


    Indiana                                 35-1140070

(State or other jurisdiction of          (I.R.S. Employer
 incorporation or organization)           Identification No.)

         200 East Berry St., Fort Wayne, Indiana 46802-2706

           (Address of Principal Executive Offices)


Registrant's Telephone Number                   (219) 455-2000

Common Stock Outstanding October 28, 1994       94,970,626

Indicate by check mark whether registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days.

                     Yes  [ x ]      No [  ]

                            Page 1 of 3




                            -2-





This 10-Q Amendment is being filed solely for the purpose of submitting a
Restated Financial Data Schedule, Exhibit 27.




            Exhibit Index for the Report on Form 10-Q/A
            for the Quarter Ended September 30, 1994


Exhibit Number      Description                        Page Number

      27            Restated Financial Data Schedule         3


                    

                          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.


                                    Lincoln National Corporation



                                    By:   /S/  Richard C. Vaughan
                                          Richard C. Vaughan
                                          Executive Vice President and
                                          Chief Financial Officer



                                    By:   /S/  Donald L. Van Wyngarden
                                          Donald L. Van Wyngarden
                                          Second Vice President and Controller

EX-27

 

<ARTICLE>                                         7
                                        
<CIK>                                             0000059558
<NAME>                                            Lincoln National Corporation
<MULTIPLIER>                                      1
       
                                               
<PERIOD-TYPE>                                     9-MOS
<FISCAL-YEAR-END>                                 DEC-31-1994
<PERIOD-START>                                    JAN-01-1994
<PERIOD-END>                                      SEP-30-1994
<DEBT-HELD-FOR-SALE>                              21,451,598,000
<DEBT-CARRYING-VALUE>                                          0
<DEBT-MARKET-VALUE>                                            0
<EQUITIES>                                         1,065,997,000
<MORTGAGE>                                         2,880,202,000
<REAL-ESTATE>                                        679,828,000
<TOTAL-INVEST>                                    26,787,652,000
<CASH>                                             1,065,623,000
<RECOVER-REINSURE>                                 2,122,856,000
<DEFERRED-ACQUISITION>                             2,017,232,000
<TOTAL-ASSETS>                                    48,599,170,000
<POLICY-LOSSES>                                   10,493,639,000
<UNEARNED-PREMIUMS>                                  818,335,000
<POLICY-OTHER>                                                 0
<POLICY-HOLDER-FUNDS>                             16,847,862,000
<NOTES-PAYABLE>                                      789,026,000
<COMMON>                                             566,347,000
<PREFERRED-MANDATORY>                                          0
<PREFERRED>                                          311,355,000
<OTHER-SE>                                         2,444,288,000
<TOTAL-LIABILITY-AND-EQUITY>                      48,599,170,000
<PREMIUMS>                                         2,952,926,000
<INVESTMENT-INCOME>                                1,499,498,000
<INVESTMENT-GAINS>                                   (53,533,000)
<OTHER-INCOME>                                       121,178,000
<BENEFITS>                                         3,058,334,000
<UNDERWRITING-AMORTIZATION>                          358,568,000
<UNDERWRITING-OTHER>                                 785,711,000
<INCOME-PRETAX>                                      282,578,000
<INCOME-TAX>                                          26,409,000
<INCOME-CONTINUING>                                  256,169,000
<DISCONTINUED>                                                 0
<EXTRAORDINARY>                                                0
<CHANGES>                                                      0
<NET-INCOME>                                         256,169,000
<EPS-PRIMARY>                                               2.47
<EPS-DILUTED>                                               2.47
<RESERVE-OPEN>                                                 0
<PROVISION-CURRENT>                                            0
<PROVISION-PRIOR>                                              0
<PAYMENTS-CURRENT>                                             0
<PAYMENTS-PRIOR>                                               0
<RESERVE-CLOSE>                                                0
<CUMULATIVE-DEFICIENCY>                                        0
        




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