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Integrity and National Integrity Deliver Customized Asset Allocation in Variable Annuity Products

— Ibbotson Portfolio Models Designed to Help Manage Volatility —

CINCINNATI — December 14, 2009 — Integrity Life Insurance Company (Integrity) and National Integrity Life Insurance Company (National Integrity), both members of Fortune 500 company Western & Southern Financial Group (Western & Southern), have selected Ibbotson Associates, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc., to deliver customized asset allocation models in their variable annuity products.

"This brings a whole new level of sophistication and expertise to asset allocation for variable annuity products from Western & Southern," said Mark Caner, president of W&S Financial Group Distributors, Western & Southern’s wholesale distribution division serving banks, broker-dealers and independent financial professionals. "Approaching portfolio construction through a research-based investment process, Ibbotson brings third-party experience and resources to bear on behalf of our representatives and their clients."

As an independent asset allocation consultant, Ibbotson worked with Integrity to create investment portfolio models that align with client time horizons, risk tolerances and investment preferences. The firm does this by combining more than 30 years of asset allocation and investment theory with academic research and a proprietary methodology. Ibbotson’s custom-designed investment portfolio models for Integrity and National Integrity include:

• Moderate-Conservative
• Balanced
• Moderate
• Moderate with Alternative Investments
• Moderate-Aggressive
• Moderate-Aggressive with Alternative Investments

Based on these risk classifications, Ibbotson devised a model portfolio for each of the categories using the exclusive line-up of investment options offered by Western & Southern in its Integrity and National Integrity variable annuities. All of the models are compatible with investment strategies for Guaranteed Lifetime Income Advantage, the optional guaranteed lifetime withdrawal benefit available for an extra charge with select variable annuities from Integrity and National Integrity.

"In our work with the Integrity Companies, we found they offer robust diversification potential with fund options in 12 asset classes, including a number employing alternative investment strategies," said Dr. Peng Chen, president of Ibbotson Associates. "The range and depth of the 50+ choices in the fund lineup allows Ibbotson to build portfolios that include both core investments as well as small strategic allocations to alternatives. The family of portfolios is designed for individuals all along the risk spectrum — from those concerned with principal protection to those seeking wealth accumulation. The Ibbotson model portfolios support client-focused strategies for the retirement puzzle."

"In addition, the companion Risk Tolerance Questionnaire is unique," Dr. Chen continued. "We worked with the Integrity Companies to create holistic risk assessment questions specifically for their clients and representatives. The result is a mix of quantitative and qualitative queries that seek to provide a more complete understanding of the client’s financial needs as well as their emotional capacity for risk."

"As the national economy continues a gradual recovery, financial services professionals are increasingly seeking effective ways to help investors pursue their own financial recovery," Caner added. "Ibbotson investment models are designed to help representatives match clients with funds aligned to their needs and goals. The diversification built into these models seeks to help manage volatility risk, a key concern for investors before and in retirement."

Integrity/National Integrity Deliver Customized Asset Allocation

To determine which investment portfolio best suits individual clients, financial services representatives walk their clients through a three-step process. "The process begins with a series of questions to assess the client’s tolerance for market fluctuations (risk tolerance) and to determine when they expect to draw money from the annuity and how long they want their payments to last (time horizon)," said Scott Edblom, senior vice president of product management for W&S Financial Group Distributors and project leader for the Ibbotson model initiative.

"Using this information, the representative and client refer to an Ibbotson asset allocation model grid to identify the client’s investment allocation by asset class. The representatives then can counsel the client on the component Integrity and National Integrity investment options that constitute the asset allocation model portfolio."

About Ibbotson Associates
Ibbotson Associates is a leading independent provider of asset allocation, manager selection, and portfolio construction services. The company leverages its innovative and ground-breaking academic research to create customized investment advisory solutions that help investors meet their goals. Founded by Professor Roger Ibbotson in 1977, Ibbotson Associates is a registered investment advisor and a wholly owned subsidiary of Morningstar, Inc.

About W&S Financial Group Distributors, Inc.
W&S Financial Group Distributors, Inc. distributes fixed, variable and immediate annuities and life insurance products from Western-Southern Life Assurance Company, Integrity Life Insurance Company and National Integrity Life Insurance Company, all member companies of Western & Southern. Marketing through a national network of broker/dealers, financial advisors, independent agents and financial institutions, W&S Financial Group Distributors assists financial professionals in helping individuals invest for, live in and manage risk during retirement.

About Western & Southern Financial Group
Western & Southern Financial Group (Western & Southern), a Fortune 500 company,¹ is a Cincinnati-based diversified family of financial services companies with assets owned, managed and under our care in excess of $43 billion as of Sept. 30, 2009. Based on Standard & Poor’s ratings, Western & Southern is one of the nine highest-rated life insurance groups in the world. For more information, visit www.westernsouthern.com. Western &Southern is the title sponsor of the Western & Southern Financial Group Masters and Women’s Open tennis tournaments.

Ratings refer to the financial strength of the insurance company and not to the safety, stability or performance of any investment product. Rating is current as of 12/1/09 and is subject to change.

Payment of benefits under the annuity contract is the obligation of, and is guaranteed by, the insurance company issuing the annuity. Guarantees are based on the claims-paying ability of the insurer. Investment return and principal value of an investment in a variable annuity will fluctuate, so units, when redeemed, may be worth more or less than their original cost.

Variable annuities are issued by Integrity Life Insurance Company, Cincinnati, OH and National Integrity Life Insurance Company, Goshen, NY and distributed by Touchstone Securities, Inc.,* Cincinnati, OH. All are members of Western & Southern Financial Group. Integrity operates in all states except ME, NH, NY and VT, where National Integrity operates.

An investor should carefully consider the investment objectives, risks, charges and expenses of the investment found in the product and fund prospectuses. For prospectuses containing complete information, visit WSFinancialPartners.com. Please read the prospectuses carefully before investing or sending money.

* A registered broker-dealer and member FINRA/SIPC.

No bank guarantee	Not a deposit	May lose value
Not FDIC/NCUA insured	Not insured by any federal government agency

 

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