R. Glenn Hilliard to Retire as Non-Executive Chairman and Director of CNO Financial Group

CARMEL, Ind., March 7, 2011 /PRNewswire/ –CNO Financial Group, Inc. (NYSE: CNO)
today announced that R. Glenn Hilliard, non-executive chairman of the Board of
Directors, will not seek re-election as a director of CNO as of the 2011 annual
meeting on May 12. He will remain on the board in his current position until the
annual meeting.

The Board also announced that it anticipates selecting Neal C. Schneider to
succeed Mr. Hilliard as chairman at the annual meeting. Mr. Schneider has been a
director of CNO since September 2003, and currently serves as chairman of the
Board’s audit committee.

“CNO Financial Group, under the leadership of its Board and senior management,
has undergone a significant transformation in recent years,” Mr. Schneider said,
“and I want to express our gratitude to Glenn Hilliard for his invaluable
contributions since joining the company in 2003.”

Additionally, the Board announced that Donna A. James, Debra J. Perry and David
K. Zwiener also will not seek re-election as directors of CNO as of the annual
meeting. Donna James and Debra Perry are not seeking re-election due to other
commitments. David Zwiener has begun a new investment fund concentrating on the
insurance industry.

The Board has an on-going succession planning and transition process, and is
actively evaluating outstanding candidates to fill the open positions.

AboutCNO

CNO is a holding company. Our insurance subsidiaries – principally Bankers Life
and Casualty Company, Colonial Penn Life Insurance Company and Washington
National Insurance Company – serve working American families and seniors by
helping them protect against financial adversity and provide for a more secure
retirement. For more information, visit CNO online at www.CNOinc.com.

SOURCE CNO Financial Group, Inc.