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Exhibit 10.36



August 1, 1998



Mr. Gene Harris
AmerUs Life Insurance Company
611 Fifth Avenue611 Fifth Avenue
Des Moines, Iowa  50309


Dear Gene:

As you know, AmerUs Home Equity, Inc. ("AmerUs Home Equity") has begun
originating mortgage loans in the name of AmerUs Life Insurance Company ("AmerUs
Life") in certain states in which it has been determined that AmerUs Home Equity
cannot or does not wish to become licensed but in which AmerUs Life is legally
permitted to originate mortgage loans. Such loans ("AmerUs Life Loans") shall be
originated in AmerUs Life's name and shall be owned by AmerUs Life, but shall be
originally funded by AmerUs Home Equity.

Subject to the terms and conditions hereof, AmerUs Home Equity and AmerUs Life
hereby agree to the following:

     1.   Each month, AmerUs Home Equity shall provide AmerUs Life with a list
          of AmerUs Life Loans originated in AmerUs Life's name during the
          previous month. AmerUs Life shall reimburse AmerUs Home Equity for the
          principal balance and the interest expense of each AmerUs Life Loan
          originated during the previous month. The interest expense
          reimbursement shall be based upon AmerUs Home Equity's borrowing rate
          at Bank One from the date the AmerUs Life Loan is funded to the date
          AmerUs Life reimburses AmerUs Home Equity for the principal balance of
          such AmerUs Life Loan.

     2.   In the event any AmerUs Life Loan is sold at a premium to an outside
          investor, AmerUs Home Equity shall remit to AmerUs Life the premium
          (net of broker fees). In the event that any AmerUs Life Loan is sold
          at a discount to an outside investor, AmerUs Life's reimbursement of
          the principal balance of thereof shall be net of the discount and any
          broker fees.

     3.   Each month, AmerUs Life shall reimburse AmerUs Home Equity for the
          following items:



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Mr. Gene Harris
August 1, 1998
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          (i)  Direct expenses of AmerUs Home Equity's regional production
               units, based on the percentage of AmerUs Life Loans originated
               each month divided by the total number of loans originated each
               month.

          (ii) Total branch expenses of AmerUs Home Equity's loan production
               offices that only originate AmerUs Life Loans. AmerUs Life shall
               be entitled to the initial processing fee income related to the
               origination of the AmerUs Life Loans, and such fees shall be
               netted against amounts reimbursed to AmerUs Home Equity under
               this provision.

          (iii) A portion of the total branch expenses of AmerUs Home Equity's
               loan production offices in which first mortgage loans are
               originated in AmerUs Life's name and second mortgage loans are
               originated in AmerUs Home Equity's name, based on the percentage
               of loans originated for each entity. AmerUs Life shall be
               entitled to the initial processing fee income related to the
               origination of the AmerUs Life Loans, and such fees shall be
               netted against amounts reimbursed to AmerUs Home Equity under
               this provision.

     4.   The AmerUs Life Loans shall be serviced by AmerUs Home Equity for 50
          basis points per year; provided, however, that if AmerUs Home Equity's
          internal servicing costs decrease from 56 basis points per loan,
          AmerUs Life will be charged the lesser of 50 basis points and AmerUs
          Home Equity's internal servicing cost. The servicing charge shall be
          assessed on the aggregate outstanding principal balance of the AmerUs
          Life Loans serviced by AmerUs Home Equity at the beginning of the each
          month. Except as set forth in this provision, the AmerUs Life Loans
          shall be serviced by AmerUs Home Equity in accordance with the terms
          and conditions set forth in that certain Loan Servicing Agreement
          dated as of March 5, 1997 (the "Servicing Agreement"), by and between
          AmerUs Life and AmerUs Home Equity, as assignee of AmerUs Bank.

This letter agreement shall be binding upon the parties hereto and their
respective successors and assigns. This letter agreement and the rights and
duties of the parties hereto shall be governed by, and construed in accordance
with, the laws of the State of Iowa, without regard to principles of conflicts
of laws.



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Mr. Gene Harris
August 1, 1998
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Upon your acceptance hereof in the manner hereinafter set forth, this letter
agreement shall constitute a contract between us for the uses and purposes
hereinabove set forth.


Very truly yours,

AMERUS HOME EQUITY, INC.




By /s/ Brenda J. Cushing
  -------------------------
  Its Senior Vice President



Accepted and agreed to as of this 1st day of August, 1998:

AMERUS LIFE INSURANCE COMPANY




By /s/ Gene Harris
  --------------------
  Its  Vice President