UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 4, 2006 UTG, INC. (Exact name of registrant as specified in its charter) Delaware 0-16867 20-2907892 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer Identification No.) incorporation or organization) 5250 South Sixth Street Springfield, Illinois 62703 (Address of principal executive offices and zip code) (217) 241-6300 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):
Written communications pursuant to Rule 425 under the Securities Act
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act Section 1 - Registrant's Business and Operations Item 1.01. Entry into a Material Definitive Agreement On October 2, 2006, UTG, Inc.'s 100% owned subsidiary, Universal Guaranty Life Insurance Company ("UG"), entered into a Real Estate Purchase and Sale Agreement for the sale of real estate currently owned. The sale is expected to close by May 31, 2007 and is contingent upon buyer's inspection period. UG is a 100% owned subsidiary of UTG, Inc., which owns for investment purposes, a property consisting of a 107,602 square foot, four-story building and 6,897 square foot attached supporting services building, totaling 114,499 square feet, in Springfield, Illinois. The total sale price of the property is $ 3,300,000, with $ 100,000 earnest money due within five days of the execution of the real estate purchase and sale agreement and the balance paid at the closing of the sale. Beginning October 2, 2006 and continuing for two hundred and ten days thereafter, an inspection period commences which allows the buyer to inspect the property and conduct feasibility studies to determine if the property is suitable for the buyer's intended use. If the buyer terminates the agreement during the first thirty days of the inspection period, the earnest money is refunded to the buyer. If the agreement is terminated after thirty days, but before the one hundred and twenty-one days, half of the earnest money is refunded to the buyer. If the buyer terminates the agreement after one hundred and twenty days, the sum total of the earnest money shall be paid to the Company. Should the sale be consummated, the Company will record a realized gain, net of taxes, of approximately $ 2,100,000, or $ 0.54 per common share outstanding. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UTG, INC. Date: October 4, 2006 By: /s/ Theodore C. Miller Theodore C. Miller Senior Vice President and Chief Financial Officer