Shareholder Service
 

April 18, 2011



Dear Shareholder,

As you can see, 2010 was a blessed year. Our profits of $7.6 million after tax are a record for our company. With strong earnings our equity is up and debt is down.

Our board, management, and other trusted advisors are working hard and making decisions with a conservative view. We believe UTG is well positioned with solid investments that are diversified and should have very little downside in a declining market and should give us strong profits for 2011. Our plan is simple, keep the balance sheet strong, keep expenses low, build our equity and care for our staff, customers and vendors the way we would like to be cared for.

Lastly, we plan to continue repurchasing shares of UTG stock. Through March 1, 2011, we have purchased over $3.5 million under this program.

We have the opportunity to serve families of policyholders during a time of grief and sorrow. We also serve others through our charitable giving not only in our local communities but around the world. This is because of you, our Shareholders. Thank You for the opportunity you have afforded us to serve.

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