Exhibit 99.1

FBL Financial Group Schedules Fourth Quarter 2004 Earnings Date and Call and
Announces New Reporting Segments

    WEST DES MOINES, Iowa--(BUSINESS WIRE)--Jan. 13, 2005--FBL
Financial Group, Inc. (NYSE:FFG) today scheduled its fourth quarter
2004 earnings date, conference call and webcast and announced new
reporting segments.
    Conference Call and Webcast. FBL Financial Group will announce its
fourth quarter 2004 earnings after the close of market on Tuesday,
February 8, 2005. The fourth quarter earnings release and financial
supplement will be posted on the FBL Financial Group web site
(www.fblfinancial.com) at that time.
    FBL will hold a conference call to discuss fourth quarter 2004
earnings on Wednesday, February 9, 2005 at 10:00 a.m. ET. The
conference call will be webcast live on the Internet. Investors and
interested parties who wish to listen to the call on the Internet may
do so at www.fblfinancial.com.
    The call may also be accessed by telephone at (800) 810-0924. A
transcript of the prepared comments from the call, as well as an audio
replay, will be available shortly after the call on FBL's web site. An
audio replay will also be available via telephone through February 16,
2005 by calling (888) 203-1112 and inputting code 431086 when
prompted.
    New Reporting Segments. In order to provide greater transparency
to its shareholders and to the financial community and to better
reflect how the business is managed, FBL has refined its reporting
segments. FBL's Traditional Annuity segment is being split into two
separate segments based on the method of distribution of the products.
All information previously included in FBL's Traditional Annuity
segment is now reported in either the Traditional Annuity - Exclusive
Distribution segment or the Traditional Annuity - Independent
Distribution segment. This change in reporting segments has no impact
on FBL's consolidated financial statements. The FBL September 30, 2004
Financial Supplement reflecting the revised segments is available on
FBL's website, www.fblfinancial.com, under Financial Information.
    FBL Financial Group is a holding company whose primary operating
subsidiaries are Farm Bureau Life Insurance Company and EquiTrust Life
Insurance Company. FBL underwrites, markets and distributes life
insurance, annuities and mutual funds to individuals and small
businesses. In addition, FBL manages all aspects of three Farm Bureau
affiliated property-casualty insurance companies for a management fee.
FBL's three-pronged growth strategy includes (1) internal growth
within its traditional Farm Bureau distribution network, (2) alliances
and other distribution channels and (3) consolidations.

    FFG-1

    CONTACT: FBL Financial Group, Inc., West Des Moines
             Kathleen Till Stange, 515-226-6780
             ktillstange@fbfs.com