AFLAC INC — Director's Dealing 2008

Mar 3, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2008-02-28

Reporting Person: TILLMAN AUDREY B (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-02-28	Common Stock	M	1481	$15.0469	Acquired	5580	Direct
2008-02-28	Common Stock	F	1481	$63.81	Disposed	4099	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-28	Employee Stock Option (right to buy)	$15.0469	M	6000	Disposed	2008-06-24	Common Stock (6000)	Direct
2008-02-28	Stock Units	$	M	4519	Acquired		Common Stock (4519)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3162	Indirect

Footnotes

F1: The reporting person elected to defer receipt of 4,519 shares of common stock issuable upon exercise of her option, resulting in the accrual to her account of 4,519 shares of phantom stock units under Aflac's Executive Deferred Compensation Plan (EDCP). The EDCP holds stock units on the reporting party's behalf representing the value of the common stock.