Allied Life: Results of Board Meeting




                               
                                
               ALLIED LIFE FINANCIAL CORPORATION
                ANNOUNCES ANNUAL MEETING RESULTS
                Contact Jeff Roling  800-532-1436 ext4454


Des Moines, Iowa, May 6, 1998-ALLIED Life Financial Corporation (NASDAQ
symbol ALFC) yesterday held its Annual Meeting of Stockholders, which was
followed by a regular meeting of the Company's Board of Directors. 

At the Annual Meeting

Stockholders elected two members of the Board of Directors to serve until the
2001 Annual meeting, James W.Callison and Dennis H. Kelly, Jr.  Mr. Callison
has been a Director of the Company since 1993. He also serves as a Director of
two affiliated companies, ALLIED Mutual Insurance Company (since 1972) and
ALLIED Group, Inc. (since 1974) as well as certain other affiliates of the
Company. Mr. Kelly has been a Director of the Company since 1993.

At the Board of Directors Meeting

The Company's Board of Directors have declared a 2nd-quarter cash dividend on
its common stock of $0.07 per share. It is payable June 26, 1998 to
stockholders of record on June 12, 1998.

                                                                              
                                                       
ALLIED Life Financial Corporation is a holding company that, through its
principal subsidiary, ALLIED Life Insurance Company, underwrites, markets, and
distributes life insurance and annuity products in the United States.  Company
financial information is on the Internet at http://www.cfonews.com/alfc.





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