FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * ODDY WILLIAM J   2. Issuer Name and Ticker or Trading Symbol FBL FINANCIAL GROUP INC [FFG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer (Last) (First) (Middle) 5400 UNIVERSITY AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 09/02/2005 (Street) WEST DES MOINES, IA 50266 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 09/02/2005   M   17,372 A $ 15.75 57,275 D   Class A Common Stock 09/02/2005   F(1)   9,108 D $ 30.04 48,167 D   Class A Common Stock 09/02/2005   M   570 A $ 16 48,737 D   Class A Common Stock 09/02/2005   M   644 A $ 16.5625 49,381 D   Class A Common Stock 09/02/2005   F(1)   238 D $ 30.04 49,143 D   Class A Common Stock 09/02/2005   M   1,414 A $ 15.5 50,557 D   Class A Common Stock 09/02/2005   F(1)   729 D $ 30.04 49,828 D   Class A Common Stock               41,000 I by Spouse Class A Common Stock               17,170.049 I by Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Incentive Stock Option (right to buy)

$ 15.5

09/02/2005

M

1,414

01/15/2002(2)

01/15/2011

Class A Common Stock

1,414

$ 30.04

6,065

D

Incentive Stock Option (right to buy)

$ 15.75

09/02/2005

M

17,372

01/15/2001(2)

01/15/2010

Class A Common Stock

17,372

$ 15.75

0

D

Incentive Stock Option (right to buy)

$ 16

09/02/2005

M

570

09/01/1998(2)

09/01/2007

Class A Common Stock

570

$ 16

0

D

Incentive Stock Option (right to buy)

$ 16.5625

09/02/2005

M

644

03/01/2001(2)

03/01/2010

Class A Common Stock

644

$ 16.5625

1,412

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ODDY WILLIAM J 5400 UNIVERSITY AVENUE WEST DES MOINES, IA 50266	X		Chief Executive Officer

Signatures

By: Robert Simons, per filed confirming stmt For: William Joseph Oddy		09/02/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On September 2, 2005, the reporting person exercised 20,000 options to acquire Class A Common Stock at an exercise price of $15.50 for 1,414 shares, $15.75 for 17,372 shares, $16.00 for 570 shares, and $16.5625 for 644 shares, by surrendering to the company 10,075 shares of directly owned issuer stock with a market price of $30.04 and $12,659.25 of cash.
(2)	Shares become exercisable annually, beginning one year from the date of grant, pro-rata during a five year period, subject to compliance with annual dollar limits for incentive stock option grants.
Remarks: Reporting person holds 17,170.049 shares in a company sponsored 401(k) Plan.  Ownership form is indirect and the nature of the indirect beneficial ownership is by trust.

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