BANKERS LIFE AND CASUALTY COMPANY INTRODUCES NEW INDEXED ANNUITY WITH PREMIUM BONUS

CHICAGO (August 17, 2007) - Bankers Life and Casualty Company has introduced its newest annuity product, the Premium Bonus Indexed Annuity.

The new offering is the third indexed product to be added to the Bankers Security Builder™ annuity series. The indexed products offer the simplicity of a fixed annuity combined with the opportunity to earn returns linked to the S&P 500® Index - all while protecting the annuity's principal and growth against downside market risks.

"Annuities are the only savings vehicle that can guarantee payments for the rest of your life," explains Scott Perry, president of Bankers Life and Casualty Company, a national life and health insurer serving the needs of the mature market. "That makes the product especially important for people who would otherwise retire depending solely on Social Security or their personal savings. And, because earnings grow on a tax-deferred basis, your retirement savings grow faster."

The Premium Bonus Indexed Annuity complements Bankers' annuity portfolio by offering an up-front premium bonus. Four percent of the net single premium amount is credited to the index value when the annuity is issued. The premium bonus helps the annuity earn money right from the start.

Clients, through issue age 75, can also take advantage of free Convalescent Care and Terminal Illness riders which come with the policy. These riders, subject to state availability, give clients peace of mind knowing that cash is available should they need it for qualified expenses.

"Annuities have always been an attractive savings vehicle for those nearing retirement," adds Perry. "The Premium Bonus Indexed Annuity will increase their appeal even more."

The Bankers Premium Bonus Indexed Annuity is currently available through Bankers' career agents in over 20 states, with additional states to offer the product soon.

About Bankers Life and Casualty Company
Established in 1879, Bankers is a subsidiary of Conseco, Inc. Bankers focuses exclusively on the insurance needs of seniors by offering a broad portfolio of health and life insurance and retirement savings products designed especially for seniors. Visit Bankers online at http://www.bankers.com/.

"S&P®," "S&P 500®," "Standard & Poor's 500," "Standard & Poor's®," and "500" are trademarks of the McGraw-Hill Companies, Inc and have been licensed for use by Bankers Life and Casualty Company. The annuities referenced herein are not sponsored, endorsed, sold, or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing these products.

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