AFLAC INC — Director's Dealing 2006

Feb 7, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2006-01-31

Reporting Person: MCNERNEY SUSAN BLANCK (Sr. Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10498	Direct
Common Stock	3386	Indirect
Common Stock	93	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$21.1563	2010-02-08	Common Stock (4726)		Direct
Employee Stock Option (right to buy)	$23.65	2012-01-03	Common Stock (6000)		Direct
Employee Stock Option (right to buy)	$29.3438	2011-01-22	Common Stock (20000)		Direct
Employee Stock Option (right to buy)	$31.705	2013-08-12	Common Stock (5000)		Direct
Employee Stock Option (right to buy)	$38.32	2014-08-10	Common Stock (10000)		Direct
Employee Stock Option (right to buy)	$38.75	2015-02-08	Common Stock (6000)		Direct
Employee Stock Option (right to buy)	$40.33	2014-02-27	Common Stock (25000)		Direct
Stock Units	$0		Common Stock (365)		Direct

Footnotes

F1: The option vests 3,333 on 08/10/05, 3,333 on 08/10/06 and 3,334 on 08/10/07.

F2: The Phantom Stock Units were accrued under Aflac Incorporated's Executive Deferred Compensation Plan (EDCP). The EDCP holds Stock Units on the reporting party's behalf representing the value of the common stock.