Allied Life: Results of Annual Meeting



                                
                                
                         ALLIED LIFE FINANCIAL CORPORATION
                         ANNOUNCES ANNUAL MEETING RESULTS                      
                         Contact Jeff Roling 800-532-1436 ext.4454            
                                             

Des Moines, Iowa, May 13, 1997 -- ALLIED Life Financial Corporation
(NASDAQ symbol ALFC) today 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 member of the Board of Directors to serve until the
2000 Annual Meeting, Harold S. Evans and George D. Milligan.  Mr. Evans has
been a Director of the Company since 1993. He also serves as a  Director of two
affiliated companies,  ALLIED Mutual Insurance Company (since 1965) and ALLIED
Group, Inc. (since 1974) as well as other certain affiliates of the Company.
Mr. Milligan has been a Director of the Company since 1993.

At the Board of Directors Meeting
           
The Board declared a second-quarter cash dividend of $0.06 per share on
Company common stock. It is payable June 27, 1997 to stockholders of  record on
June 13, 1997.

                                                                               
                                                       
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 rural and suburban areas of 
the United States.





Ends.