EXHIBIT 4.11


THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE
ATTENTION. IF YOU ARE IN ANY DOUBT AS TO THE ACTION TO BE TAKEN, YOU SHOULD
IMMEDIATELY CONSULT YOUR BROKER, BANK MANAGER, LAWYER, ACCOUNTANT, INVESTMENT
ADVISOR OR OTHER PROFESSIONAL.


This document relates to
an exchange offer (the “EXCHANGE OFFER”) made by FBL Financial Group, Inc.,
(“FBL”). The Exchange Offer is described in the Prospectus, dated [               ],
2007 (the “PROSPECTUS”), and in this Letter of Transmittal (this “LETTER OF
TRANSMITTAL”). All terms and conditions contained or otherwise referred to in
the Prospectus are deemed to be incorporated in and form a part of this Letter
of Transmittal. Therefore, you are urged to read the Prospectus and the items
referred to therein carefully. The terms and conditions contained in the
Prospectus, together with the terms and conditions governing this Letter of
Transmittal and the instructions herein, are collectively referred to below as
the “TERMS AND CONDITIONS.”


LETTER OF
TRANSMITTAL


RELATING
TO


THE OFFER
BY FBL FINANCIAL GROUP, INC.


TO EXCHANGE 5.875% SENIOR NOTES DUE 2017,


(“REGISTERED NOTES”)


FOR


5.875% SENIOR NOTES DUE 2017,


(“OUTSTANDING NOTES”)


THE EXCHANGE OFFER FOR THE OUTSTANDING NOTES WILL
EXPIRE AT 5:00 P.M., CHICAGO TIME, ON [               ],
2007, UNLESS EXTENDED BY FBL (THE “EXPIRATION DATE”).


Each holder of Outstanding Notes wishing to accept the
Exchange Offer, except holders of Outstanding Notes executing their tenders
through the Automated Tender Offer Program (“ATOP”) procedures of The
Depository Trust Company (“DTC”), should complete, sign and submit this Letter
of Transmittal to the exchange agent, LaSalle Bank National Association (the “EXCHANGE
AGENT”), on or prior to the Expiration Date.


LaSalle
Bank National Association


135
South LaSalle Street


Suite 1560


Chicago,
IL 60603


Attention:
Corporate Trust Services


DELIVERY OF THIS LETTER OF TRANSMITTAL TO AN ADDRESS,
OR TRANSMISSION OF INSTRUCTIONS VIA A FACSIMILE NUMBER, OTHER THAN AS SET FORTH
ABOVE OR IN ACCORDANCE WITH THE INSTRUCTIONS HEREIN, WILL NOT CONSTITUTE VALID
DELIVERY. THE INSTRUCTIONS ACCOMPANYING THIS LETTER OF TRANSMITTAL SHOULD BE
READ CAREFULLY BEFORE THIS LETTER OF TRANSMITTAL IS COMPLETED.


Questions regarding the Exchange Offer or the
completion of this Letter of Transmittal should be directed to the Exchange
Agent, at:  1-312-904-2226.













This Letter of Transmittal may be used to accept the
Exchange Offer if Outstanding Notes are to be tendered by effecting a
book-entry transfer into the Exchange Agent’s account at DTC and instructions
are not being transmitted through DTC’s ATOP procedures. Unless you intend to
tender Outstanding Notes through ATOP, you should complete, execute and deliver
this Letter of Transmittal, along with the physical certificates for the
Outstanding Notes specified herein, to indicate the action you desire to take
with respect to the Exchange Offer.


Holders of Outstanding Notes tendering by book-entry
transfer to the Exchange Agent’s account at DTC may execute the tender through
ATOP, for which the Exchange Offer is eligible. Financial institutions that are
DTC participants may execute tenders through ATOP by transmitting acceptance of
the Exchange Offer to DTC on or prior to the Expiration Date. DTC will verify
acceptance of the Exchange Offer, execute a book-entry transfer of the tendered
Outstanding Notes into the account of the Exchange Agent at DTC and send to the
Exchange Agent a “book-entry confirmation,” which shall include an agent’s
message. An “agent’s message” is a message, transmitted by DTC to, and received
by, the Exchange Agent and forming a part of a book-entry confirmation, which
states that DTC has received an express acknowledgement from a DTC participant
tendering Outstanding Notes that the participant has received and agrees to be
bound by the terms of the Letter of Transmittal as an undersigned thereof and
FBL may enforce such agreement against the participant. Delivery of the agent’s
message by DTC will satisfy the terms of the Exchange Offer as to execution and
delivery of a Letter of Transmittal by the DTC participant identified in the
agent’s message. ACCORDINGLY, HOLDERS WHO TENDER THEIR OUTSTANDING NOTES
THROUGH DTC’S ATOP PROCEDURES SHALL BE BOUND BY, BUT NEED NOT COMPLETE, THIS
LETTER OF TRANSMITTAL.


Subject to the terms and conditions and applicable
law, FBL will issue:  for each $1,000
principal amount of Outstanding Notes, $1,000 principal amount of Registered
Notes.


Outstanding Notes may be exchanged in minimum
denominations of $1,000 and integral multiples of $1,000 in excess thereof. Registered
Notes will be issued in minimum denominations of $1,000 and integral multiples
of $1,000 in excess thereof.


Holders that anticipate tendering other than through
DTC are urged to promptly contact a bank, broker or other intermediary (that
has the capability to hold cash and securities custodially through DTC) to
arrange for receipt of any Registered Notes to be delivered pursuant to the
Exchange Offer and to obtain the information necessary to provide the required
DTC participant and account information in this Letter of Transmittal.


Registered Notes will be
issued in exchange for Outstanding Notes in the Exchange Offer, if consummated,
as soon as practicable after the Expiration Date of the Exchange Offer (the “SETTLEMENT
DATE”).


TENDER OF OUTSTANDING NOTES


To effect a valid tender of Outstanding Notes through
the completion, execution and delivery of this Letter of Transmittal, the
undersigned must complete the table below entitled “Description of Outstanding
Notes Tendered” and sign the Letter of Transmittal where indicated.


Registered Notes will be delivered in book-entry form
to holders through DTC and only to the DTC account of the undersigned or the
undersigned’s custodian, as specified below, on the Settlement Date, or as soon
as practicable thereafter.


Failure to provide the
information necessary to effect delivery of Registered Notes will render such
holder’s tender defective, and FBL will have the right, which it may waive, to
reject such tender without notice.



 2
 









DESCRIPTION OF OUTSTANDING NOTES
TENDERED


(SEE INSTRUCTIONS 2 AND 3)


NOTE: SIGNATURES MUST BE PROVIDED BELOW.


PLEASE READ THE ACCOMPANYING INSTRUCTIONS
CAREFULLY.




	
  OUTSTANDING NOTES

  BEING TENDERED

  	
   

  	
  NAME OF DTC PARTICIPANT AND

  PARTICIPANT’S ACCOUNT NUMBER

  IN WHICH OUTSTANDING NOTES ARE

  HELD AND/OR THE CORRESPONDING

  REGISTERED NOTES ARE

  TO BE DELIVERED.

  	
   

  	
  AGGREGATE

  PRINCIPAL AMOUNT

  OF OUTSTANDING

  NOTES*

  	
   

  
	
  5.875% SENIOR NOTES DUE
  2017

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  






 




	
  (CUSIP: 30239FACO)

  	
   

  










*                    THE PRINCIPAL
AMOUNT OF OUTSTANDING NOTES TENDERED HEREBY MUST BE IN DENOMINATIONS OF U.S.
$1,000 AND INTEGRAL MULTIPLES OF U.S. $1,000 IN EXCESS THEREOF WITH A MINIMUM
TENDER REQUIREMENT OF U.S. $1,000. SEE INSTRUCTION 3.


If the aggregate principal
amount of the Outstanding Notes specified was held as of the date of tender by
more than one beneficial owner, you may specify below the break-down of this
aggregate principal amount by beneficial owner, and, in doing so, hereby
instruct the Exchange Agent to treat each such beneficial owner as a separate
holder. If the space below is inadequate, attach a separate signed schedule
using the same format.




	
  BENEFICIAL OWNER NAME

  OR ACCOUNT NUMBER

  	
   

  	
  PRINCIPAL AMOUNT OF

  OUTSTANDING NOTES

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  TOTAL:

  	
   

  	
   

  






 



 3
 









SPECIAL RETURN INSTRUCTIONS


TO BE COMPLETED ONLY IF OUTSTANDING NOTES NOT
ACCEPTED FOR EXCHANGE ARE TO BE SENT TO SOMEONE OTHER THAN THE PERSON OR
PERSONS WHOSE SIGNATURES(S) APPEAR(S) WITHIN THIS LETTER OF
TRANSMITTAL.


(SEE INSTRUCTION 5)




	
  

  	
   

  	
  NAME OF DTC PARTICIPANT AND PARTICIPANT’S

  ACCOUNT NUMBER TO WHICH OUTSTANDING

  NOTES NOT ACCEPTED FOR EXCHANGE

  ARE TO BE DELIVERED.

  	
   

  	
  *

  
	
   

  	
   

  	
   

  	
   

  	
   

  






 


NOTE:  SIGNATURES MUST BE PROVIDED BELOW.


PLEASE READ THE ACCOMPANYING INSTRUCTIONS
CAREFULLY.



 4















LADIES AND GENTLEMEN:


The undersigned hereby tenders to FBL the aggregate
principal amount of Outstanding Notes indicated in the table above entitled “Description
of Outstanding Notes Tendered.”


The undersigned understands that validly tendered
Outstanding Notes (or defectively tendered Outstanding Notes with respect to
which FBL has, or has caused to be, waived such defect) will be deemed to have
been accepted by FBL if, as and when FBL gives oral or written notice thereof
to the Exchange Agent. The undersigned understands that subject to the terms
and conditions, Outstanding Notes properly tendered and accepted (and not
validly withdrawn) in accordance with the terms and conditions will be
exchanged for Registered Notes. The undersigned understands that Outstanding
Notes delivered hereby may be withdrawn at any time on or prior to the
Expiration Date. The undersigned understands that Outstanding Notes delivered
hereby may not be withdrawn at any time after the Expiration Date unless the
Exchange Offer is extended with changes in the terms of the Exchange Offer that
are, in the reasonable judgment of FBL, materially adverse to the tendering
holder. The undersigned understands that, under certain circumstances, FBL may
not be required to accept any of the Outstanding Notes tendered (including any
Outstanding Notes tendered after the Expiration Date). If any Outstanding Notes
are not accepted for exchange for any reason (or if Outstanding Notes are
validly withdrawn), such unexchanged (or validly withdrawn) Outstanding Notes
will be returned without expense to the undersigned’s account at DTC or such
other account as designated herein pursuant to the book-entry transfer
procedures described in the Prospectus, as promptly as practicable after the
expiration or termination of the Exchange Offer.


Following the later
of the Expiration Date or the date upon which Outstanding Notes are tendered
hereby, and subject to and effective upon FBL’s acceptance for exchange of the
principal amount of the Outstanding Notes tendered hereby, upon the terms and
conditions, the undersigned hereby:


(1)         irrevocably sells,
assigns and transfers to or upon the order of FBL or its nominees, all right,
title and interest in and to, and any and all claims in respect of or arising
or having arisen as a result of the undersigned’s status as a holder of, all
Outstanding Notes tendered hereby, such that thereafter it shall have no
contractual or other rights or claims in law or equity against FBL or any
fiduciary, trustee, fiscal agent or other person connected with the Outstanding
Notes arising under, from or in connection with such Outstanding Notes;


(2)         waives any and all rights
with respect to the Outstanding Notes tendered hereby (including, without
limitation, any existing or past defaults and their consequences in respect of
such Outstanding Notes); and


(3)         releases and discharges
FBL and LaSalle Bank National Association, as trustee (the “TRUSTEE”) from any
and all claims the undersigned may have, now or in the future, arising out of
or related to the Outstanding Notes tendered hereby, including without
limitation, any and all claims that the undersigned is entitled to receive
additional principal or interest payments with respect to the Outstanding Notes
tendered hereby (other than accrued and unpaid interest on the Outstanding
Notes) or to participate in any redemption or defeasance of the Outstanding
Notes tendered hereby.


The undersigned understands that tenders of
Outstanding Notes pursuant to any of the procedures described in the Prospectus
and in the instructions in this Letter of Transmittal and acceptance of such
Outstanding Notes by FBL will, following such acceptance, constitute a binding
agreement between the undersigned and FBL upon the terms and conditions.


All authority conferred or agreed to be conferred by
this Letter of Transmittal shall not be affected by, and shall survive, the
death or incapacity of the undersigned, and any obligation of the undersigned
hereunder shall be binding upon the heirs, executors, administrators, trustees
in bankruptcy, personal and legal representatives, successors and assigns of
the undersigned.



 5
 









The undersigned
hereby represents, warrants and agrees that:


(1)         it has received and
reviewed the Prospectus;


(2)         it is the beneficial
owner (as defined below) of, or a duly authorized representative of one or more
such beneficial owners of, the Outstanding Notes tendered hereby and it has
full power and authority to execute this Letter of Transmittal;


(3)         the Outstanding Notes
being tendered hereby were owned as of the date of tender, free and clear of
any liens, charges, claims, encumbrances, interests and restrictions of any
kind, and FBL will acquire good, indefeasible and unencumbered title to such
Outstanding Notes, free and clear of all liens, charges, claims, encumbrances,
interests and restrictions of any kind, when the same are accepted by FBL;


(4)         it will not sell, pledge,
hypothecate or otherwise encumber or transfer any Outstanding Notes tendered
hereby from the date of this Letter of Transmittal and agrees that any
purported sale, pledge, hypothecation or other encumbrance or transfer will be
void and of no effect;


(5)         in evaluating the
Exchange Offer and in making its decision whether to participate therein by
submitting this Letter of Transmittal and tendering its Outstanding Notes, the
undersigned has made its own independent appraisal of the matters referred to
in the Prospectus and in any related communications and is not relying on any
statement, representation or warranty, express or implied, made to such holder
by FBL or the Exchange Agent other than those contained in the Prospectus (as
amended or supplemented to the Expiration Date);


(6)         the execution and
delivery of this Letter of Transmittal shall constitute an undertaking to
execute any further documents and give any further assurances that may be
required in connection with any of the foregoing, in each case on and subject
to the terms and conditions;


(7)         the submission of this
Letter of Transmittal to the Exchange Agent shall, subject to a holder’s
ability to withdraw its tender prior to the Expiration Date, and subject to
terms and conditions of the Exchange Offer generally, constitute the
irrevocable appointment of the Exchange Agent as its attorney and agent, and an
irrevocable instruction to such attorney and agent to complete and execute all
or any form(s) of transfer and other document(s) at the discretion of
such attorney and agent in relation to the Outstanding Notes tendered hereby in
favor of FBL or such other person or persons as they may direct and to deliver
such form(s) of transfer and other document(s) in the attorney’s
and/or agent’s discretion and the certificate(s) and other document(s) of
title relating to such Outstanding Notes’ registration and to execute all such
other documents and to do all such other acts and things as may be in the
opinion of such attorney or agent necessary or expedient for the purpose of, or
in connection with, the acceptance of the Exchange Offer, and to vest in FBL or
its nominees such Outstanding Notes; and


(8)         the terms and conditions
shall be deemed to be incorporated in, and form a part of, this Letter of
Transmittal, and the terms and conditions shall be read and construed
accordingly.


The representations and warranties and agreements of a
holder tendering Outstanding Notes shall be deemed to be repeated and
reconfirmed on and as of the Expiration Date and the Settlement Date. For
purposes of this Letter of Transmittal, the “BENEFICIAL OWNER” of any
Outstanding Notes shall mean any holder that exercises sole investment
discretion with respect to such Outstanding Notes.


The undersigned understands that tenders may not be
withdrawn at any time after the Expiration Date except as set forth in the
Prospectus, unless the Exchange Offer is extended with changes to the terms and
conditions that are, in the reasonable judgment of FBL, materially adverse to
the undersigned, in which case tenders may be withdrawn under the conditions
described in the extension.



 6















If the Exchange Offer is amended in a manner
determined by FBL to be materially adverse to tendering holders, FBL will
extend the Exchange Offer for a period of two to ten business days, depending
on the significance of the amendment and the manner of disclosure to such
holders, if the Exchange Offer would otherwise have expired during such two- to
ten-business day period. Any change in the consideration offered to holders of
Outstanding Notes in the Exchange Offer shall be paid to all holders of
Outstanding Notes whose securities have previously been tendered and not
withdrawn pursuant to the Exchange Offer.


If the “Special Return Instructions” box (found above)
is completed, please credit the indicated DTC account for any book-entry
transfers of Outstanding Notes not accepted for exchange.


The undersigned recognizes
that FBL has no obligation under the “Special Return Instructions” provision of
this Letter of Transmittal to effect the transfer of any Outstanding Notes from
the holder(s) of such Outstanding Notes if FBL does not accept for
exchange any of the principal amount of the Outstanding Notes tendered pursuant
to this Letter of Transmittal.


SIGN HERE


By completing, executing
and delivering this Letter of Transmittal, the undersigned hereby tenders to FBL
the principal amount of the Outstanding Notes listed in the table set forth
above labeled “Description of Outstanding Notes Tendered.”




	
  

  	
   

  	
   

  
	
  Signature of Registered Holder(s) or Authorized
  Signatory

  	
   

  	
  Date

  
	
  (see guarantee
  requirement below)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature of Registered Holder(s) or Authorized
  Signatory

  	
   

  	
  Date

  
	
  (see guarantee
  requirement below)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature of Registered Holder(s) or Authorized
  Signatory

  	
   

  	
  Date

  
	
  (see guarantee
  requirement below)

  	
   

  	
   

  
	
  Area Code and Telephone
  Number:

  	
   

  
				






 



 7
 









If a holder of Outstanding
Notes is tendering any Outstanding Notes, this Letter of Transmittal must be
signed by the Registered Holder(s) exactly as the name(s) appear(s) on
a securities position listing of DTC or by any person(s) authorized to
become the Registered Holder(s) by endorsements and documents transmitted
herewith. If the signature is by a trustee, executor, administrator, guardian,
attorney-in-fact, officer or other person, acting in a fiduciary or
representative capacity, please set forth at the line entitled “Capacity (full
title)” and submit evidence satisfactory to the Exchange Agent and FBL of such
person’s authority to so act. See Instruction 4.




	
  Name(s):

  	
   

  
	
   

  
	
  (Please Type or Print)

  
	
  Capacity (full title):

  	
   

  
	
  Address:

  	
   

  
	
  (Including Zip Code)

  
			






 


MEDALLION
SIGNATURE GUARANTEE


(If required—See Instruction 4)




	
  Signature(s) Guaranteed
  by

  
	
  an Eligible Institution:

  	
   

  
	
  (Authorized Signature)

  
	
   

  
	
  (Title)

  
	
   

  
	
  (Name of Firm)

  
	
   

  
	
  (Address)

  
	
  Dated:

  	
   

  	
  , 2007

  
				






 



 8















INSTRUCTIONS
FORMING PART OF THE TERMS AND


CONDITIONS OF THE EXCHANGE OFFER


1.     DELIVERY
OF LETTER OF TRANSMITTAL.   This Letter of Transmittal is to be completed
by tendering holders of Outstanding Notes if tender of such Outstanding Notes
is to be made by book-entry transfer to the Exchange Agent’s account at DTC and
instructions are not being transmitted through ATOP. HOLDERS WHO TENDER THEIR
OUTSTANDING NOTES THROUGH DTC’S ATOP PROCEDURES SHALL BE BOUND BY, BUT NEED NOT
COMPLETE, THIS LETTER OF TRANSMITTAL; THUS, A LETTER OF TRANSMITTAL NEED NOT
ACCOMPANY TENDERS EFFECTED THROUGH ATOP.


A confirmation of a book-entry transfer into the
Exchange Agent’s account at DTC of all Outstanding Notes delivered
electronically, as well as a properly completed and duly executed Letter of
Transmittal (or a manually signed facsimile thereof) or properly transmitted
agent’s message, and any other documents required by this Letter of
Transmittal, must be received by the Exchange Agent at its address set forth
herein on or prior to the Expiration Date.


Any financial institution that is a participant in DTC
may electronically transmit its acceptance of the Exchange Offer by causing DTC
to transfer Outstanding Notes to the Exchange Agent in accordance with DTC’s
ATOP procedures for such transfer on or prior to the Expiration Date. The
Exchange Agent will make available its general participant account at DTC for
the Outstanding Notes for purposes of the Exchange Offer.


DELIVERY OF A LETTER OF TRANSMITTAL TO DTC WILL NOT
CONSTITUTE VALID DELIVERY TO THE EXCHANGE AGENT. No Letter of Transmittal
should be sent to FBL or DTC.


The method of delivery of this Letter of Transmittal
and all other required documents, including delivery through DTC and any
acceptance or agent’s message delivered through ATOP, is at the option and risk
of the tendering holder. If delivery is by mail, registered mail, with return
receipt requested and properly insured, is recommended. Instead of delivery by
mail, it is recommended that the holder use an overnight or hand-delivery
service. In all cases, sufficient time should be allowed to ensure timely
delivery.


Neither FBL nor the
Exchange Agent is under any obligation to notify any tendering holder of
Outstanding Notes of FBL’s acceptance of tendered Outstanding Notes prior to
the Expiration Date.


2.     DELIVERY
OF THE REGISTERED NOTES.   Registered Notes to be issued according to the
terms of the Exchange Offer, if consummated, will be delivered in book-entry
form to holders of Outstanding Notes tendered in the Exchange Offer. In order
to permit such delivery, the appropriate DTC participant name and number (along
with any other required account information) must be provided in the table
entitled “Description of the Outstanding Notes.”  Failure to do so will render a tender of the
Outstanding Notes defective, and FBL will have the right, which it may waive,
to reject such delivery. Holders that anticipate participating in the Exchange
Offer other than through DTC are urged to promptly contact a bank, broker or
other intermediary (that has the capability to hold securities custodially
through DTC) to arrange for receipt of any Registered Notes delivered pursuant
to the Exchange Offer and to obtain the information necessary to complete the
table.


3.     AMOUNT OF
TENDERS.   Tenders of Outstanding Notes will be accepted in denominations
of U.S. $1,000 and integral multiples of U.S. $1,000 in excess thereof. Book-entry
transfers to the Exchange Agent should be made in the exact principal amount of
Outstanding Notes tendered.


4.     SIGNATURES ON LETTER OF TRANSMITTAL; INSTRUMENTS OF TRANSFER;
GUARANTEE OF SIGNATURES.   For purposes of this Letter of Transmittal, the
term “REGISTERED HOLDER” means an owner of record as well as any DTC
participant that has Outstanding Notes credited to its DTC account. Except as
otherwise provided below, all signatures on this 



 9
 









Letter
of Transmittal must be guaranteed by a recognized participant in the Securities
Transfer Agents Medallion Program, the NYSE Medallion Signature Program or the
Stock Exchange Medallion Program (each, a “MEDALLION SIGNATURE CO-OBLIGOR”). Signatures
on the Letter of Transmittal need not be guaranteed if:


·       the
Letter of Transmittal is signed by a participant in DTC whose name appears on a
security position listing as the owner of the Outstanding Notes and the holder(s) has
not completed the box entitled “Special Return Instructions” on the Letter of
Transmittal; or


·       the
Outstanding Notes are tendered for the account of an “eligible institution.”


An “eligible
institution” is one of the following firms or other entities identified in Rule 17Ad-15
under the Securities Exchange Act of 1934 (as the terms are used in Rule 17Ad-15):


(a)    a bank;


(b)   a broker,
dealer, municipal securities dealer, municipal securities broker, government
securities dealer or government securities broker;


(c)    a credit
union;


(d)   a national
securities exchange, registered securities association or clearing agency; or


(e)    a savings
institution that is a participant in a Securities Transfer Association
recognized program.


If any of the Outstanding Notes tendered are held by
two or more Registered Holders, all of the Registered Holders must sign the
Letter of Transmittal.


FBL will not accept any alternative, conditional,
irregular or contingent tenders. By executing the Letter of Transmittal (or
facsimile thereof) or directing DTC to transmit an agent’s message, you waive
any right to receive any notice of the acceptance of your Outstanding Notes for
exchange.


If this Letter of Transmittal or instruments of
transfer are signed by trustees, executors, administrators, guardians or
attorneys-in-fact, officers of corporations or others acting in a fiduciary or
representative capacity, such persons should so indicate when signing and,
unless waived by FBL, evidence satisfactory to FBL of their authority to so act
must be submitted with this Letter of Transmittal.


Beneficial owners
whose tendered Outstanding Notes are registered in the name of a broker,
dealer, commercial bank, trust company or other nominee must contact such
broker, dealer, commercial bank, trust company or other nominee if they desire
to tender such Outstanding Notes.


5.     SPECIAL
RETURN INSTRUCTIONS.   All Outstanding Notes tendered hereby and not
accepted for exchange will be returned to the undersigned according to the
information provided in the table entitled “Description of the Outstanding
Notes Tendered” or, if completed, according to the “Special Return Instructions”
box in this Letter of Transmittal.


6.     TRANSFER
TAXES.   Except as set forth in this Instruction 6, FBL will pay or cause
to be paid any transfer taxes with respect to the transfer and sale of
Outstanding Notes to it, or to its order, pursuant to the Exchange Offer. If
payment is to be made to, or if Outstanding Notes not tendered or purchased are
to be registered in the name of any persons other than the Registered Holder,
or if tendered Outstanding Notes are registered in the name of any persons
other than the persons signing this Letter of Transmittal, the amount of any
transfer taxes (whether imposed on the Registered Holder or such other person)
payable on account of the transfer to such other person will be deducted from
the payment unless satisfactory evidence of the payment of such taxes or
exemption therefrom is submitted.



 10
 









7.     VALIDITY
OF TENDERS.   All questions concerning the validity, form, eligibility
(including time of receipt), acceptance and withdrawal of tendered Outstanding
Notes will be determined by FBL in its sole discretion, which determination
will be final and binding. FBL reserves the absolute right to reject any and
all tenders of Outstanding Notes not in proper form or any Outstanding Notes
the acceptance for exchange of which may, in the opinion of its counsel, be
unlawful. FBL also reserves the absolute right to waive any defect or
irregularity in tenders of Outstanding Notes, whether or not similar defects or
irregularities are waived in the case of other tendered securities. The
interpretation of the terms and conditions by FBL shall be final and binding on
all parties. Unless waived, any defects or irregularities in connection with
tenders of Outstanding Notes must be cured within such time as FBL shall
determine. None of FBL, the Exchange Agent or any other person will be under
any duty to give notification of defects or irregularities with respect to
tenders of Outstanding Notes, nor shall any of them incur any liability for
failure to give such notification.


Tenders of
Outstanding Notes will not be deemed to have been made until such defects or
irregularities have been cured or waived. Any Outstanding Notes received by the
Exchange Agent that are not validly tendered and as to which the defects or
irregularities have not been cured or waived will be returned by the Exchange
Agent to the holders of Outstanding Notes, unless otherwise provided in this
Letter of Transmittal, as soon as practicable following the Expiration Date or
the withdrawal or termination of the Exchange Offer.


8.     WAIVER OF
CONDITIONS.   FBL reserves the absolute right to amend or waive any of the
conditions in the exchange Offer concerning any Outstanding Notes at any time.


9.     WITHDRAWAL.   Tenders
may be withdrawn only pursuant to the procedures and subject to the terms set
forth in the Prospectus under the caption “The Exchange Offer—Withdrawal of
Tenders.”


10.   REQUESTS
FOR ASSISTANCE OR ADDITIONAL COPIES.   Questions and requests for
assistance and requests for additional copies of the Prospectus and this Letter
of Transmittal may be directed to the Exchange Agent at the address and
telephone number indicated herein.


11.   TAX
IDENTIFICATION NUMBER.   Federal income tax law requires that a U.S. Holder
(defined below) whose Outstanding Notes are accepted for exchange must provide
the Exchange Agent with his, her or its correct taxpayer Identification Number
(“TIN”), which , in the case of an exchanging U.S. Holder who is an individual,
is his or her social security number. If the Exchange Agent is not provided
with the correct TIN or an adequate basis for exemption, such holder may be
subject to a $50 penalty imposed by the Internal Revenue Service (the “IRS”),
and payments made with respect to the Registered Notes or the Exchange Offer
may be subject to backup withholding at a rate of 28% (subject to periodic
reductions through 2010, at which time the rate is currently scheduled to be
increased to 31%). If withholding results in an overpayment of taxes, a refund
may be obtained.


To prevent backup withholding, each exchanging U.S.
Holder must provide his, her or its correct TIN by completing the copy of the
IRS Form W-9 attached to this Letter of Transmittal, certifying that
the TIN provided is correct (or that such U.S. Holder is awaiting a TIN) and
that the U.S. Holder is not subject to backup withholding because: (a) the
holder is exempt from backup withholding, or (b) the holder has not been
notified by the IRS that he, she or it is subject to backup withholding as a
result of a failure to report all interests or dividends, or (c) the IRS
has notified the U.S. Holder that he, she or it is no longer subject to backup
withholding. If the Outstanding Notes are in more than one name or are not in
the name of the actual owner, consult the Form W-9 Instructions for
information on which TIN to report. If you do not provide your TIN to the
Exchange Agent within 60 days, backup withholding may begin and continue until
you furnish your TIN.



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Exempt holders (including, among others, all
corporations and certain foreign individuals) are not subject to these
withholding and reporting requirements. See the enclosed copy of the IRS Form W-9.
In order to satisfy FBL that a foreign individual qualifies as an exempt
recipient, such holder must submit a properly completed IRS Form W-8BEN
(or other applicable form) certifying, under penalty of perjury, to such holder’s
foreign status in order to establish an exemption from backup withholding. A
copy of the Form W-8BEN is attached to this Letter of Transmittal. Other
applicable forms may be obtained from the Exchange Agent.


For the purposes of
these instructions, a “U.S. HOLDER” is (i) a citizen or resident of the
United States, (ii) a corporation, or other entity taxable as a
corporation for U.S. federal income tax purposes, created or organized in or
under the laws of the United States or of any political subdivision thereof, (iii) an
estate the income of which is subject to United States federal income taxation
regardless of its source, or (iv) a trust, if a court within the United
States is able to exercise primary supervision over administration of the trust
and one or more U. S. persons having authority to control all substantial
decisions of the trust.


12.   The
exchange of Outstanding Notes for Registered Notes will not be a taxable event
for U.S. federal income tax purposes. See “Material United States Federal
Income Tax Consequences” in the Prospectus.


In order to tender, a holder of Outstanding Notes
should send or deliver a properly completed and signed Letter of Transmittal
and any other required documents to the Exchange Agent at its address set forth
below or tender pursuant to DTC’s Automated Tender Offer Program


The Exchange Agent for the Exchange Offer is:


LaSalle
Bank National Association


135
South LaSalle Street


Suite 1560


Chicago,
IL 60603


Attention: Corporate Trust Services


Any questions or requests for assistance or for
additional copies of the Prospectus, this Letter of Transmittal, or related
documents may be directed to the Exchange Agent at:  1-312-904-2226. A holder of Outstanding
Notes may also contact such holder’s custodian bank, depositary, broker, trust
company or other nominee for assistance concerning the Exchange Offer.



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