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TEXT - S&P affirms Tennessee Farmers Life Insurance Co ratings

(The following statement was released by the rating agency)

Rating Action On Sept. 21, 2012, Standard & Poor's Ratings Services affirmed its 'Api' counterparty credit and financial strength ratings on Tennessee Farmers Life Insurance Co. (TFL).

Rationale

The ratings on TFL reflect the company's well-balanced product portfolio and strong capital adequacy as measured by our models. TFL's limited geographic presence (100% of its business is written in Tennessee) somewhat offsets these strengths.

TFL is a subsidiary of Tennessee Farmers Mutual Insurance Co., which is based in Columbia, Tenn. We rate TFL on a stand-alone basis.

Related Criteria And Research Ratings Bearing A "pi" Subscript: Methodology And Assumptions, Feb. 9, 2011 Ratings List Ratings Affirmed Tennessee Farmers Life Insurance Co. Counterparty Credit Rating Financial Strength Rating Api

(Caryn Trokie, New York Ratings Unit)

((Caryn.Trokie@thomsonreuters.com; 646-223-6318; Reuters Messaging: rm://caryn.trokie.reuters.com@reuters.net))

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