<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-06-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000097196</issuerCik>
        <issuerName>AMERICAN INDEPENDENCE CORP</issuerName>
        <issuerTradingSymbol>AMIC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000701869</rptOwnerCik>
            <rptOwnerName>INDEPENDENCE HOLDING CO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>96 CUMMINGS POINT ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>STAMFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06902</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4264501</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote 1</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On June 30, 2010, the Reporting Person's beneficial ownership of 1,141,638 of these shares changed from direct to indirect when beneficial ownership of such shares was transferred from the Reporting Person to Madison Investors Corporation (&quot;MIC&quot;), which is an indirect wholly owned subsidiary of the Reporting Person.  Also on June 30, 2010, beneficial ownership of 196,053 of these shares was transferred from Madison National Life Insurance Company, Inc. (&quot;MNL&quot;), which is an indirect wholly owned subsidiary of the Reporting Person, to MIC.  The remaining 2,926,810 of these shares are also beneficially owned by MIC.  The Reporting Person, MIC and MNL independently manage their respective portfolios.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Adam C. Vandervoort, Vice President, General Counsel and Secretary</signatureName>
        <signatureDate>2010-07-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
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X0303
4
2010-06-30
0
0000097196
AMERICAN INDEPENDENCE CORP
AMIC
0000701869
INDEPENDENCE HOLDING CO
96 CUMMINGS POINT ROAD
STAMFORD
CT
06902
0
0
1
0
Common Stock
4264501
I
See Footnote 1
On June 30, 2010, the Reporting Person's beneficial ownership of 1,141,638 of these shares changed from direct to indirect when beneficial ownership of such shares was transferred from the Reporting Person to Madison Investors Corporation ("MIC"), which is an indirect wholly owned subsidiary of the Reporting Person.  Also on June 30, 2010, beneficial ownership of 196,053 of these shares was transferred from Madison National Life Insurance Company, Inc. ("MNL"), which is an indirect wholly owned subsidiary of the Reporting Person, to MIC.  The remaining 2,926,810 of these shares are also beneficially owned by MIC.  The Reporting Person, MIC and MNL independently manage their respective portfolios.
Adam C. Vandervoort, Vice President, General Counsel and Secretary
2010-07-06