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

    <schemaVersion>X0101</schemaVersion>

    <submissionType>EFFECT</submissionType>

    <act>33</act>

    <testOrLive>LIVE</testOrLive>

    <effectiveData>
        <finalEffectivenessDispDate>2010-03-29</finalEffectivenessDispDate>
        <finalEffectivenessDispTime>16:45:00</finalEffectivenessDispTime>
        <form>N-14</form>
        <filer>
            <cik>0000217087</cik>
            <entityName>SBL FUND</entityName>
            <fileNumber>333-164581</fileNumber>
            <seriesClassContractData>
                <merger>
                    <acquiringCik>0000217087</acquiringCik>
                    <acquiringEntityName>SBL FUND</acquiringEntityName>
                    <acquiringSeriesId>S000010053</acquiringSeriesId>
                    <acquiringSeriesName>SERIES A</acquiringSeriesName>
                    <acquiringClassContractId>C000027852</acquiringClassContractId>
                    <acquiringClassContractName>A</acquiringClassContractName>
                    <targetCik>0000217087</targetCik>
                    <targetEntityName>SBL FUND</targetEntityName>
                    <targetSeriesId>S000010068</targetSeriesId>
                    <targetSeriesName>SERIES H</targetSeriesName>
                    <targetClassContractId>C000027867</targetClassContractId>
                    <targetClassContractName>A</targetClassContractName>
                </merger>
            </seriesClassContractData>
        </filer>
    </effectiveData>
</edgarSubmission>
