NEWS RELEASE
July 1, 2006

SETTLERS LIFE INSURANCE COMPANY AND NGL AMERICAN LIFE INSURANCE COMPANY MERGE TO FORM STRONGER COMPANY

MADISON, WISCONSIN and BRISTOL, VIRGINIA.- John D. Larson, Chairman, President and Chief Executive Officer of National Guardian Life Insurance Company, flagship company of the NGL Insurance Group, announced today the merger of two of its wholly owned subsidiaries - Settlers Life Insurance Company of Bristol, Virginia and NGL American Life Insurance Company of Madison, Wisconsin.

The surviving company, to be known as Settlers Life Insurance Company, will be domiciled in the State of Wisconsin, with its home office at 2 East Gilman Street in Madison, Wisconsin. The company will continue to maintain marketing and final expense operations at 1969 Lee Highway in Bristol, Virginia.

Mr. Larson stated that: "The merger of these two 'sister companies' creates a single, financially stronger company with over $370 million in assets and more than $48 million in surplus. It permits the NGL Insurance Group to save the costs associated with having two separate subsidiaries. Importantly the surviving company will make available licenses in 49 states and the District of Columbia to the final expense marketing team at our office in Bristol, Virginia, broadening our options in that marketplace."

Policyholders of both subsidiaries will shortly receive detailed information by mail concerning the merger and confirming their contact points for customer assistance, claims and other services.

National Guardian Life Insurance Company is the parent company of Settlers Life Insurance Company and Preneed Reinsurance Company of America. It is the principal member of the "NGL Insurance Group." National Guardian Life is a 96-year-old mutual life insurance company that has been providing financial security to its policyowners since 1910. The company is rated A- (Excellent) from A.M. Best and A- (Excellent) from Weiss Research. It specializes in Preneed, Final Expense and Dental & Vision Insurance. To review National Guardian Life's Annual Report or learn more about National Guardian Life, Settlers Life Insurance Company, and the NGL Insurance Group, visit www.nglic.com

National Guardian Life Insurance Company is not affiliated with the Guardian Life Insurance Company of America, a/k/a The Guardian or Guardian Life.

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