Item 2.02 – Results of Operations and Financial Condition.

Included below is a release of financial information mailed to stockholders on March 10, 2008. It reflects the financial condition, in a condensed format, for Kansas City Life Insurance Company as of December 31, 2007, and was previously included in the Company's fourth quarter Form 10-K report filed on February 29, 2008.

Message from the President, CEO and Chairman of the Board

Kansas City Life Insurance Company recorded net income of $35.7 million or $3.01 per share for the year ended December 31, 2007, a decrease of $1.3 million from the prior year. The decline in earnings for the year was a result of reduced insurance and investment revenues, along with increased income tax expense. The Company posted fourth quarter net income of $6.4 million or $0.54 per share, a decline of $3.7 million from fourth quarter 2006 results. The reduced earnings in the fourth quarter occurred largely due to net realized investment losses of $1.1 million in 2007 versus net realized investment gains of $3.2 million in 2006, along with lower net investment income and increased income tax expense.

New sales of life insurance products increased for both the year and fourth quarter. However, total insurance revenues declined for the twelve-month period largely as a result of lower contract charges from reduced balances of life and annuity deposit products. Total new insurance premiums increased 1%, and total new deposits increased 8% for the twelve months. New insurance premiums increased primarily due to a 1% increase in new individual life sales and a 13% increase in new immediate annuity receipts. The increase in new deposits resulted from a 7% increase in new universal life sales, a 5% increase in new variable universal life deposits and a 37% increase in new variable annuity sales.

Investment revenues declined due to lower net investment income for both the year and fourth quarter. The Company had realized investment gains for the year but had a net realized investment loss in the fourth quarter of 2007 compared with a realized investment gain in 2006. Net investment income declined 3% and 4% for the comparative year and fourth quarter, respectively. These declines were driven by lower invested assets during the year, which was primarily the result of increased surrenders and withdrawals of insurance and annuity deposit products. Net realized investment gains for the year of $5.4 million, generated largely from the sale of real estate, were reduced by a net loss of $1.1 million in the fourth quarter. The net realized loss in the fourth quarter was the result of the write-down of two investment securities that operate largely in the business of producing print media. One of these securities was impaired as a result of a leveraged buyout that greatly disadvantaged existing bondholders, and the other investment security was written down for a second time after recently filing for bankruptcy protection.

Benefits and expenses declined for both the year and fourth quarter in comparison to 2006. Favorable mortality experience and reduced interest credited from lower policyholder account balances accounted for a large portion of the $11.6 million and $3.7 million decline in total benefits and expenses for the twelve months and fourth quarter, respectively. Lower operating expenses resulted primarily from lower compensation costs for both periods.

Income tax expense increased for both the year and fourth quarter periods, largely due to reduced low income housing tax credits generated by the Company and adjustments in tax expense from earlier years.

On January 28, 2008, the Board of Directors declared a quarterly dividend of $0.27 per share that was paid on February 12, 2008 to stockholders of record on February 7, 2008. During 2007, the Company paid dividends totaling $3.08 per share, including a special, one-time dividend of $2.00 per share.

The Company is encouraged by the improved life insurance sales results in 2007, which are believed to be the direct result of agencies and sales representatives emphasizing growth in life protection products. Sales momentum continues to build through continued focus on improved recruiting, retention and productivity of general agencies, along with the retooling of several products that the Company believes will be positively received in the marketplace during 2008. The Company will also be delivering new universal life and term life insurance products to the market in early 2008 that are expected to generate sales growth. Further, the Company continues to maintain a strong capital position, providing the ability to weather difficult economic cycles and to take advantage of opportunities for growth.

Page 2 of 7