Exhibit 99.1

NEWS

For Release     Immediate

Contacts        (News Media) Tony Zehnder, EVP, Corporate Communications
                312.396.7086
                (Investors) Lowell Short, SVP, Investor Relations
                317.817.2893

                    Conseco Teams with Coventry to Offer New
                       Medicare Part D Prescription Plans

Carmel, Ind., September 23, 2005 - Conseco, Inc. (NYSE:CNO) today announced that
it has entered into a strategic alliance with Coventry Health Care to offer the
new Medicare Part D prescription drug plan to its policyholders and consumers on
a nationwide basis.

"Our strategic alliance with Coventry is a true win-win, and positions us well
to be a leading provider of supplemental health products to middle market senior
Americans," said Conseco President and CEO William Kirsch. "We are excited about
delivering this valuable plan to our customers through our multiple distribution
channels, including our Bankers Life and Casualty Company with a field force of
4,500 career agents throughout our 162 offices, and our Conseco Insurance Group
independent agents."

Beginning in October 2005, Bankers Life and Conseco Insurance will offer
Coventry's AdvantraRX plans, along with their own lines of Medicare supplement
products to their policyholders and to prospective clients across the country.

"Coventry is very pleased to have completed this agreement to become the
exclusive Medicare Part D solution for Conseco," said Dale Wolf, Coventry's
chief executive officer. "This partnership combines two premier providers of
insurance products committed to meeting the needs of Medicare beneficiaries
through the new prescription drug program."

Coventry Health Care is a national managed health care company based in
Bethesda, Maryland, operating health plans, insurance companies, network
rental/managed care services companies, and workers' compensation services
companies. Coventry provides a full range of risk and fee-based managed care
products and services, include HMO, PPO, POS, Medicare Advantage, Medicaid,
Workers' Compensation and Network Rental to a broad cross-section of employer
and government-funded groups, government agencies, and other insurance carriers
and administrators in all 50 states as well as the District of Columbia and
Puerto Rico. The company is also a filed applicant in 34 Prescription Drug Plan
(PDP) regions to be a national Medicare PDP provider. More information is
available on the internet at www.cvty.com and www.firsthealth.com.

The Conseco insurance companies serve millions of customers across America.
Conseco's Medicare supplement, cancer, heart/stroke and accident policies
protect people against major unplanned expenses; Conseco's annuities and life
insurance products help people plan for their financial futures. For more
information, visit Conseco's web site at www.conseco.com.


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