Exhibit 31.2

I, Matthew W. Kindsvogel, certify
that:

|1. | I
have reviewed this quarterly report on Form 10-Q of Kemper Investors           Life
Insurance Company;
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|2. | Based
on my knowledge, this quarterly           report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this quarterly report;
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|3. | Based on my knowledge, the financial statements, and other financial
               information included in this quarterly report, fairly present in all material
               respects the financial condition, results of operations and cash flows of the
               registrant as of, and for, the periods presented in this quarterly report;
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|4. | The registrants other certifying officer and I are responsible for
               establishing and maintaining disclosure controls and procedures (as defined in
               Exchange Act Rules 13a-15(e) and 15d-15(e)) and have:
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| | a) | Designed such disclosure controls and procedures, or caused such disclosure
               controls and procedures to be designed under our supervision, to ensure that
               material information relating to the registrant, including its consolidated
               subsidiaries, is made known to us by others within those entities, particularly
               during the period in which this quarterly report is being prepared;
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| | b) | Evaluated the effectiveness of the registrants disclosure controls and
               procedures and presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures, as of the end of the
               period covered by this quarterly report based on such evaluation; and
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| | c) | Disclosed in this report any change in the registrants internal control
               over financial reporting that occurred during the registrants most recent
               fiscal quarter (the registrants first fiscal quarter in the case of an
               quarterly report) that has materially affected, or is reasonably likely to
               materially affect, the registrants internal control over financial
               reporting; and
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|5. | The registrants other certifying officer and I have disclosed,
               based on our most recent evaluation, to the registrants auditors and the
               audit committee of registrants board of directors (or persons performing
               the equivalent function):
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| | a) | All significant deficiencies and material weaknesses in the design or operation
               of internal control over financial reporting which are reasonably likely to
               adversely affect the registrants ability to record, process, summarize and
               report financial information; and
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| | b) | Any fraud, whether or not material, that involves management or other
               employees who have a significant role in the registrants internal controls
               over financial reporting.
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|Date: |  | August 12, 2004
|----- |  | ---------------
|     



|/s/                                          | Matthew W. Kindsvogel
|-------------------------------------------- | ---------------------
|                                            
|Matthew W. KindsvogelChief Financial
Officer