Exhibit 99.1


NEWS

For Release     Immediate

Contacts        (News Media) Tony Zehnder, EVP, Corporate Communications
                317.817.4418
                (Investors) Scott Galovic, Director, Investor Relations
                317.817.3228



       Conseco Reaches Settlement of Multistate Market Conduct Examination
                           Agrees to $2.3 million fine

Carmel, Ind., May 7, 2008: Conseco, Inc. (NYSE:CNO) today announced a settlement
among state insurance regulators and two of its insurance subsidiaries: Conseco
Senior Health Insurance (CSHI) Company and Bankers Life and Casualty Company.
The settlement concludes a multistate market conduct examination led by
Pennsylvania, Illinois, Indiana, Texas and Florida related to long-term care
claims practices and procedures, complaint handling, and sales and marketing
practices.

Under the agreement:

     o    Conseco will pay a fine of up to $2.3 million, with an additional $10
          million in the event Conseco fails to meet the process improvement
          benchmarks over the next two-and-a-half years.

     o    Conseco will review certain claims from 2005-2007 and provide up to $4
          million of remediation.

     o    Conseco will implement a detailed process improvement plan designed to
          achieve performance standards for the timely processing of claims and
          complaints and other processes, as part of an improvement program
          undertaken by the company in 2007. Under that program, Conseco is
          moving several long-term care back-office functions to the Long-Term
          Care Group, Inc. to better manage the CSHI business and improve
          customer service, and Conseco is investing $26 million on systems
          enhancements and business process improvements over the next
          two-and-a-half years. The plan will be monitored by the lead states.

"Conseco encouraged and fully supported this exam, especially in light of
industry policymakers' focus on senior marketplace issues relating to long-term
care and spiraling healthcare costs," said Conseco CEO Jim Prieur. "As we
expected, after an extensive review the examiners did not find that Conseco had
engaged in a practice of improper claims denials."

"Conseco is committed to meeting the standards set forth in the forward-looking
settlement to steadily improve our company," said Prieur. "We've been diligently
working toward best-in-class service through the process improvement and
enhancement program we implemented in 2007, and are already seeing meaningful
results in claims and complaint handling."

"The conclusion of the multistate exam, the findings and the settlement are a
positive step for not only our company but for the long-term care industry as a
whole," Prieur said. "Private payer long-term care is extremely important,
because our nation faces a huge demographic challenge. It is in the best
interests of policyholders and taxpayers that the industry and regulators work
together to find solutions to preserve the public's faith in long-term care
insurance."

Conseco, Inc.'s insurance companies help protect working American families and
seniors from financial adversity: Medicare supplement, long-term care, cancer,
heart/stroke and accident policies protect people against major unplanned
expenses; annuities and life insurance products help people plan for their
financial futures. For more information, visit Conseco's web site at
http://www.conseco.com/.

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