2009
RESTRICTED STOCK AGREEMENT
 
 Award
 Shares
 Issuance of Restricted Shares
 Plan Incorporated
 Policy Incorporated. Impact of Restatement of Financial Statements Upon Awards Policy 
 Additional Definitions.
 (i) Good Reason.
 (1)
    
    A material diminution in the Employees authority, duties, or
responsibilities of the Employee;(2)
    
    A material diminution in the Employees base compensation;(3)
    
    A material diminution in the authority, duties, or
responsibilities of the corporate officer or employee to whom the Employee is
required to




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report, including a requirement that the Employee report to a corporate
officer or employee instead of reporting directly to the Board;
 (4)
    
    A material diminution in the budget over which the Employee
retains authority;(5)
    
    A material change in the geographic location at which the
Employee must perform the services Employee provides to the Company; or(6)
    
    Any other action or inaction that constitutes a material breach
by the Company of any agreement under which the Employee provides services.
 (ii ) Cause.
 (1)
    
    the Employees willful and continued failure to substantially
perform the Employees duties with the Company or its Affiliates (other than
any such failure resulting from the Employees incapacity due to physical or
mental illness), after a written demand for substantial performance is
delivered to the Employee by the Company which specifically identifies the
manner in which the Company believes that the Employee has not substantially
performed his or her duties;(2)
    
    the final conviction of the Employee of, or an entering of a
guilty plea or a plea of no contest by the Employee to, a felony; or(3)
    
    the willful engaging by the Employee in illegal conduct or
gross misconduct which is materially and demonstrably injurious to the Company.For purposes of this definition, no act or failure to act on the part of the
Employee shall be considered willful unless it is done, or omitted to be
done, by the Employee in bad faith or without a reasonable belief that the
action or omission was in the best interests of the Company or its
Affiliates. Any act, or failure to act, based on authority given pursuant to
a resolution duly adopted by the Board, the instructions of a more senior
officer of the Company or the advice of counsel to the Company or its
Affiliates will be conclusively presumed to be done, or omitted to be done,
by the Employee in good faith and in the best interests of the Company and
its Affiliates.
 Restricted Shares
 Forfeiture Restrictions
 2




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##### 



Lapse of Forfeiture Restrictions
 (i)
    
    Lapse Date:
  (ii)
    
    Restricted Stock Agreement Earnings Per Share (RSAEPS):
  (iii)
    
    Restricted Stock Agreement Expense Target (RSAET)
  (iv)
    
    Performance Goals
  Threshold RSAEPS goal:
    
    $2.47Target RSAEPS goal:
    
    $2.59Maximum RSAEPS goal:
    
    $2.84Threshold RSAET goal:
    
    100% of budget
 3




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##### 



Target RSAET goal:
    
    98.5% of budgetMaximum RSAET goal:
    
    95.5% of budget
 (v)
    
    Percentage of Number of Restricted Shares Awarded Pursuant to RSAEPS Goals to Which
Forfeiture Restrictions Lapse:
 If RSAEPS equals or exceeds the maximum RSAEPS goal:
    
    
    100
    %If RSAEPS equals the target RSAEPS goal:
    
    
    50
    %If RSAEPS is less than the threshold RSAEPS goal:
    
    
    0
    %
     (vi)
    
    Percentage of Number of Restricted Shares Awarded Pursuant to RSAET Goals to Which Forfeiture
Restrictions Lapse:
 If RSAET equals or exceeds the maximum RSAET goal:
    
    
    100
    %If RSAET equals the target RSAET goal:
    
    
    50
    %If RSAET is less than the threshold RSAET goal:
    
    
    0
    %
     (vii)
    
    Effect of Termination of Employment:
  4




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##### 



Dividend Restriction
 Certificates
 5




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Withholding of Tax
 Status of Stock
 Employment Relationship
 Committees Powers
 6




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##### 



Binding Effect
 Governing Law
 IN WITNESS WHEREOF
 FBL FINANCIAL GROUP, INC.By:(name and title)Employee  
    
    
    I do notdesire the
alternative tax
treatment provided
for in the Internal
Revenue Code
Section 83(b).
    
    
    I dodesire the
alternative tax
treatment provided
for in Internal
Revenue Code
Section 83(b) and
desire that forms
for such purpose be
forwarded to me. *
 
    
    I acknowledge that the Company has suggested that before this line is initialed that I
check with a tax consultant of my choice.
 7




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Exhibit A
 Policy: Impact of Restatement of Financial Statements Upon Awards. (Adopted by Management
Development and Compensation Committee December 2006.)
 
 Exhibit B
 FARM BUREAU LIFE INSURANCE COMPANY
GENERAL EXPENSES
2009 Plan over 2008 Projected
 2009
    
    2009 %2008
    
    2009
    
    Increase
    
    IncreaseProjected
    
    Plan
    
    (Decrease)
    
    (Decrease)(Dollars in thousands)Salaries and payroll taxes
    
    $
    24,971
    
    
    $
    25,081
    
    
    $
    110
    
    
    
    0.4
    %Employee benefits
    
    
    8,169
    
    
    
    8,670
    
    
    
    501
    
    
    
    6.1Travel and meetings
    
    
    1,675
    
    
    
    1,245
    
    
    
    (430
    )
    
    
    (25.7
    )Rent
    
    
    3,231
    
    
    
    2,988
    
    
    
    (243
    )
    
    
    (7.5
    )Office expenses
    
    
    4,463
    
    
    
    4,063
    
    
    
    (400
    )
    
    
    (9.0
    )Furniture, equipment and
software costs
    
    
    11,934
    
    
    
    11,425
    
    
    
    (509
    )
    
    
    (4.3
    )Sales expenses
    
    
    6,626
    
    
    
    4,412
    
    
    
    (2,214
    )
    
    
    (33.4
    )Professional fees
    
    
    10,242
    
    
    
    10,070
    
    
    
    (172
    )
    
    
    (1.7
    )Management fees
    
    
    7,949
    
    
    
    8,389
    
    
    
    440
    
    
    
    5.5Area and departmental expenses
    
    $
    79,260
    
    
    $
    76,343
    
    
    
    ($2,917
    )
    
    
    (3.7
    )%Less payroll taxes
    
    
    (1,745
    )
    
    
    (1,839
    )
    
    
    (94
    )
    
    
    5.4
    %Less investment expenses
    
    
    (5,442
    )
    
    
    (5,536
    )
    
    
    (94
    )
    
    
    1.7
    %Plus distribution expenses
    
    
    10,241
    
    
    
    10,726
    
    
    
    485
    
    
    
    4.7
    %General expenses
    
    $
    82,314
    
    
    $
    79,694
    
    
    
    ($2,620
    )
    
    
    (3.2
    )%
 8




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##### 



EQUITRUST LIFE INSURANCE COMPANY
GENERAL EXPENSES
2009 Plan over 2008 Projected
 2009
    
    2009 %2008
    
    2009
    
    Increase
    
    IncreaseProjected
    
    Plan
    
    (Decrease)
    
    (Decrease)(Dollars in thousands)Salaries and payroll taxes
    
    $
    12,620
    
    
    $
    12,549
    
    
    
    ($71
    )
    
    
    (0.6
    )%Employee benefits
    
    
    3,312
    
    
    
    3,810
    
    
    
    498
    
    
    
    15.0Travel and meetings
    
    
    760
    
    
    
    440
    
    
    
    (320
    )
    
    
    (42.1
    )Rent
    
    
    1,222
    
    
    
    1,218
    
    
    
    (4
    )
    
    
    (0.3
    )Office expenses
    
    
    2,077
    
    
    
    1,597
    
    
    
    (480
    )
    
    
    (23.1
    )Furniture, equipment and
software costs
    
    
    2,061
    
    
    
    2,174
    
    
    
    113
    
    
    
    5.5Sales expenses
    
    
    1,786
    
    
    
    163
    
    
    
    (1,623
    )
    
    
    (90.9
    )Professional fees
    
    
    3,047
    
    
    
    2,672
    
    
    
    (375
    )
    
    
    (12.3
    )Management fees
    
    
    12,608
    
    
    
    10,298
    
    
    
    (2,310
    )
    
    
    (18.3
    )Recoverable expenses
    
    
    (1,894
    )
    
    
    (1,976
    )
    
    
    (82
    )
    
    
    4.3Area and departmental expenses
    
    $
    37,599
    
    
    $
    32,945
    
    
    
    ($4,654
    )
    
    
    (12.4
    )%Less payroll taxes
    
    
    (823
    )
    
    
    (875
    )
    
    
    (52
    )
    
    
    (6.3
    )Less investment expenses
    
    
    (7,935
    )
    
    
    (8,084
    )
    
    
    (149
    )
    
    
    1.9Plus distribution expenses
    
    
    350
    
    
    
    350
    
    
    
    
    
    
    
    General expenses
    
    $
    29,191
    
    
    $
    24,336
    
    
    
    ($4,855
    )
    
    
    (16.6
    )%
 9