CNO Financial Group
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Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements. Our statements, trend analyses and other information contained in this
press release relative to markets for CNO Financial’s products and trends in CNO Financial’s operations or financial results, as well as other
statements, contain forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform
Act of 1995. Forward-looking statements typically are identified by the use of terms such as “anticipate,” “believe,” “plan,” “estimate,” “expect,”
“project,” “intend,” “may,” “will,” “would,” “contemplate,” “possible,” “attempt,” “seek,” “should,” “could,” “goal,” “target,” “on track,” “comfortable
with,” “optimistic” and similar words, although some forward-looking statements are expressed differently. You should consider statements that
contain these words carefully because they describe our expectations, plans, strategies and goals and our beliefs concerning future business
conditions, our results of operations, financial position, and our business outlook or they state other ‘‘forward-looking’’ information based on
currently available information. Assumptions and other important factors that could cause our actual results to differ materially from those
anticipated in our forward-looking statements include, among other things: (i) changes in or sustained low interest rates causing a reduction in
investment income, the margins of our fixed annuity and life insurance businesses and demand for our products; (ii) general economic, market
and political conditions, including the performance and fluctuations of the financial markets which may affect our ability to raise capital or
refinance existing indebtedness and the cost of doing so; (iii) the ultimate outcome of lawsuits filed against us and other legal and regulatory
proceedings to which we are subject; (iv) our ability to make changes to certain non-guaranteed elements of our life insurance products; (v) our
ability to obtain adequate and timely rate increases on our health products, including our long-term care business; (vi) the receipt of any
required regulatory approvals for dividend and surplus debenture interest payments from our insurance subsidiaries; (vii) mortality, morbidity,
the increased cost and usage of health care services, persistency, the adequacy of our previous reserve estimates and other factors which may
affect the profitability of our insurance products; (viii) changes in our assumptions related to deferred acquisition costs or the present value of
future profits; (ix) the recoverability of our deferred tax assets and the effect of potential ownership changes and tax rate changes on their
value; (x) our assumption that the positions we take on our tax return filings, including our position that our 7.0% convertible senior debentures
due 2016 will not be treated as stock for purposes of Section 382 of the Internal Revenue Code of 1986, as amended, and will not trigger an
ownership change, will not be successfully challenged by the Internal Revenue Service; (xi) changes in accounting principles and the
interpretation thereof; (xii) our ability to continue to satisfy the financial ratio and balance requirements and other covenants of our debt
agreements; (xiii) our ability to achieve anticipated expense reductions and levels of operational efficiencies including improvements in claims
adjudication and continued automation and rationalization of operating systems, (xiv) performance and valuation of our investments, including
the impact of realized losses (including other-than-temporary impairment charges); (xv) our ability to identify products and markets in which we
can compete effectively against competitors with greater market share, higher ratings, greater financial resources and stronger brand
recognition; (xvi) our ability to generate sufficient liquidity to meet our debt service obligations and other cash needs; (xvii) our ability to maintain
effective controls over financial reporting; (xviii) our ability to continue to recruit and retain productive agents and distribution partners and
customer response to new products, distribution channels and marketing initiatives; (xix) our ability to achieve eventual upgrades of the
financial strength ratings of CNO Financial and our insurance company subsidiaries as well as the impact of our ratings on our business, our
ability to access capital and the cost of capital; (xx) the risk factors or uncertainties listed from time to time in our filings with the Securities and
Exchange Commission; (xxi) regulatory changes or actions, including those relating to regulation of the financial affairs of our insurance
companies, such as the payment of dividends and surplus debenture interest to us, regulation of financial services affecting (among other
things) bank sales and underwriting of insurance products, regulation of the sale, underwriting and pricing of products, and health care
regulation affecting health insurance products; and (xxii) changes in the Federal income tax laws and regulations which may affect or eliminate
the relative tax advantages of some of our products. Other factors and assumptions not identified above are also relevant to the forward-
looking statements, and if they prove incorrect, could also cause actual results to differ materially from those projected. All forward-looking
statements are expressly qualified in their entirety by the foregoing cautionary statements. Our forward-looking statements speak only as of the
date made. We assume no obligation to update or to publicly announce the results of any revisions to any of the forward-looking statements to
reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking
statements.
