Independence Holding Company Announces New Relationship with Carolina Benefit Administrators to...

STAMFORD, Conn. -- Independence Holding Company (NYSE: IHC) today announced that Standard Security Life Insurance Company of New York has entered into a new marketing and administrative relationship with Carolina Benefit Administrators ("CBA") of Winston-Salem, NC to provide its agents

with group medical (including consumer driven high deductible), group life, vision and dental plans. Insurers Administrative Corporation, a subsidiary of IAC, will manage the business. Prior to this, CBA developed a $17,000,000 block of group major medical and dental and $6,500,000 of individual business working with over 500 agents through-out North and South Carolina. CBA has been marketing and administering group and individual business for over two decades in the Carolina's.

Roy Thung, Chief Executive Officer of IHC, commented, "We are delighted that CBA has joined the IHC team as a significant producer in North Carolina. This transaction demonstrates our vision of partnering with excellent regional organizations, placing the business with Standard Security Life or Madison National Life, and bringing to bear IAC's expertise to manage this business."

About Independence Holding Company

IHC is a holding company principally engaged in the life and health insurance business and the acquisition of blocks of policies through its insurance company subsidiaries (Standard Security Life Insurance Company of New York and Madison National Life Insurance Company, Inc.), its affiliate (American Independence Corp. (NASDAQ: AMIC)), and its managing general underwriters, third party administrators, and marketing affiliates. Standard Security Life markets medical stop-loss, long-term and short-term disability, employer-sponsored group major medical, short-term medical, group life, dental, vision and managed health care products. Madison Life sells group life and disability, employer medical stop-loss, employer-sponsored group major medical, short-term medical, dental, vision, credit life and disability and individual life insurance. AMIC is a holding company principally engaged in the insurance and reinsurance business through Independence American Insurance Company and its managing general underwriter division.

Some of the statements included herein may be considered to be forward looking statements which are subject to certain risks and uncertainties. Factors which could cause the actual results to differ materially from those suggested by such statements are described from time to time in IHC's filings with the Securities and Exchange Commission.