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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 OW6DYGhVyPkXUol0r3tNPE+3Pbae0F9pg2gvh3YUmQZLKPs5ix7zUbmCjE71RuOl
 2+bSSm6U9tCBfnEuLX4Cew==

<SEC-DOCUMENT>0001179110-07-003693.txt : 20070214
<SEC-HEADER>0001179110-07-003693.hdr.sgml : 20070214
<ACCEPTANCE-DATETIME>20070214123417
ACCESSION NUMBER:		0001179110-07-003693
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061231
FILED AS OF DATE:		20070214
DATE AS OF CHANGE:		20070214

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LAMEL LINDA H
		CENTRAL INDEX KEY:			0001239666

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08506
		FILM NUMBER:		07616655

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		9149345200

	MAIL ADDRESS:	
		STREET 1:		C/O UNIVERSAL AMERICAN FINANCIAL CORP
		STREET 2:		SIX INTERNATIONAL DR. #190
		CITY:			RYE BROOK
		STATE:			NY
		ZIP:			10573-1068

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNIVERSAL AMERICAN FINANCIAL CORP
		CENTRAL INDEX KEY:			0000709878
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				112580136
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		SIX INTERNATIONAL DRIVE
		STREET 2:		SUITE 190
		CITY:			RYE BROOK
		STATE:			NY
		ZIP:			10573-1068
		BUSINESS PHONE:		9149345200X253

	MAIL ADDRESS:	
		STREET 1:		SIX INTERNATIONAL DRIVE
		STREET 2:		SUITE 190
		CITY:			RYE BROOK
		STATE:			NY
		ZIP:			10573-1068

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNIVERSAL HOLDING CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 5 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2006-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000709878</issuerCik>
        <issuerName>UNIVERSAL AMERICAN FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>UHCO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001239666</rptOwnerCik>
            <rptOwnerName>LAMEL LINDA H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6 INTERNATIONAL DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>RYE BROOK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10573</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-04-06</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4450</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-06-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>200</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4250</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>Linda H. Lamel</signatureName>
        <signatureDate>2007-02-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----