NEWS RELEASE
October 17, 2003

SETTLERS LIFE ACHIEVES NEW HISTORICAL MARK OF $1 BILLION OF IN-FORCE BUSINESS

Bristol, Virginia - Settlers Life Insurance Company, for the first time in its history, has exceeded $1 billion of insurance coverage for policyholders. According to Michael Lowe, President and Chief Operating Officer, the company’s success can be attributed to the energy of its field sales force in the community and to the company’s long-standing reputation as a trusted life insurance provider.

“We are seeing a growing trend of people seeking to protect their families with life insurance policies they can depend on at claim time,” said Lowe. “Our B++ (very good) rating by the A.M. Best Company reflects our security and financial stability. We are very proud of our ability to deliver whenever the need is there. Reaching the one billion-dollar milestone shows the confidence consumers and agents have in our company.”

A.M. Best, a prominent rating agency in the United States reporting on the financial strength of insurance companies, states that a rating of B++ is “assigned to companies which have, on balance, very good financial strength, operating performance and market profile when compared to the standards established by the A.M. Best Company. These companies, in our opinion, have a good ability to meet their ongoing obligations to policyholders.”

Founded in 1984, Settlers Life Insurance Company employs 73 people in their home office in Bristol, Va. They specialize in simplified issue whole life insurance providing coverage for final expenses, families and children. The company has more than 1,900 field agents serving Tennessee, Virginia, West Virginia, North Carolina, Kentucky, South Carolina, Georgia and Indiana.

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