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                                                                   EXHIBIT 10.49

                 [FEDERAL HOME LOAN BANK OF TOPEKA LETTERHEAD]



American Investors Life Insurance Company (Customer) and the Federal Home Loan
Bank of Topeka (Custodian) hereby agree on April 12, 2000, that the Custodian
shall hold and dispose of all securities and other property of the Customer
deposited with, delivered to or received by the Custodian, subject to the
following terms and conditions:

1.  (a)  The Custodian will hold the securities in one or more custodial
    accounts (referred to as Custodial Account, whether one or more) which the
    Custodian will open and maintain in such name(s) as may be agreed upon from
    time to time with the Customer.

    (b)  The Customer authorizes and instructs the Custodian to maintain the
    securities in the Custodial Account directly in its offices or indirectly
    through custody accounts which have been established by the Custodian with
    the following other securities intermediaries: (i) another bank or trust
    company located within the United States (Subcustodian); and (ii) a
    securities depository or clearing agency or system in which the Custodian or
    Subcustodian participates (Depository). The Custodian may, at any time in
    its discretion, terminate any custody account at any Subcustodian or
    Depository.

    (c)  Subject to the aforesaid provision, securities are to be held in the
    Custodial Account in coupon bearer form; with respect to securities that are
    received in registered form, the Custodian is authorized to reregister such
    securities in the name of its nominee or the nominee of a Subcustodian or
    Depository, unless alternate registration instructions are furnished.

    (d)  In consideration of the registration of any stocks, bonds, securities
    or other property in the name of a nominee, the Customer agrees to pay on
    demand to the Custodian or nominee the amount of any loss or liability
    claimed or asserted against the Custodian or its nominee by reason of such
    registration, including any liability for stockholders' assessments.

    (e)  Should any securities that are forwarded to the Custodian by the
    Customer, and that are subsequently deposited with a Depository, not be
    deemed acceptable for deposit by the Depository for any reason, the Customer
    shall immediately furnish the Custodian with like securities in acceptable
    form or, in the alternative, the Custodian is authorized to charge the
    Customer's account for the cost of replacing such securities and for any
    other fees or charges as may be payable to such Depository as a result of
    such unacceptable deposit.

    (f)  The Custodian is authorized to accept, act upon and rely upon each of
    the following (Instructions): (i) all signed, written statements given by
    one or more of the officers, employees or agents of the Customer as are
    designated  by resolution of the Customer's board of directors, as provided
    to the Custodian, and any amendments thereto, from time to time; and (ii)
    all statements received by telephone, facsimile transmission, bank wire or
    other teleprocess acceptable to the Custodian which it believes in good
    faith to have been given by such authorized person or which are transmitted
    with proper testing or authentication pursuant to terms and conditions which
    the Custodian may specify. The Custodian shall incur no liability to the
    Customer, or otherwise, as a result of any act by the Custodian in
    accordance with instructions on which the Custodian is authorized to rely
    pursuant to the provisions of this paragraph.

    (g)  In complying with Instructions for delivery of securities, the
    Custodian will make deliveries through (i) the Federal Reserve system,
    pursuant to applicable regulations and operating circulars of the Federal
    Reserve Banks, all as amended from time to time; or (ii) the facilities of
    any Depository pursuant to the Kansas Uniform Commercial Code and the rules
    and procedures of such Depository, and any subsequent amendments thereto.


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     (h)  The Customer acknowledges familiarity with the current securities
     industry practice of delivering physical securities against later payment
     on delivery date. Notwithstanding instructions to deliver securities
     against payment the Custodian is authorized to make delivery against a
     temporary receipt (sometimes called a "window ticket") in lieu of payment.
     The Custodian will use its best efforts to obtain payment thereof during
     the same business day, but the Customer solely assumes all risks of payment
     for such deliveries. The Custodian may accept checks, whether certified or
     not, in payment for securities delivered, and the Customer assumes sole
     responsibility for the risks of collectibility of such checks.

2.   Unless instructed otherwise in writing, the proceeds of sales,
     redemptions, collections and other receipts, and dividend and interest
     income will be credited to the Customer's account. The term "account" shall
     be deemed to mean any one or more of the Customer's deposit accounts
     maintained with the Custodian at the time of the transaction referred to.

3.   (a)  In no event shall the Custodian be responsible to ascertain or to
     take any action concerning any puts, calls, conversions, exchanges,
     reorganizations, offers, tenders or similar matters relating to securities
     held in the Custodial Account other than to transmit to the Customer, in a
     timely manner, all information relating to any such action received by the
     Custodian from any offerors or otherwise. All Instructions to the Custodian
     with respect to tender offers must be in writing and delivered to the
     Custodian within sufficient time for the Custodian to act thereon if any
     action is required. As used herein, "sufficient time" shall mean at least
     one business day before the last permissible date for action by the
     Custodian, and the Custodian shall have no liability to the Customer for
     failure to act upon Instructions received by the Custodian at any time
     after such date.

     (b)  All proxies and material pertaining thereto received by the Custodian
     in connection with stocks, bonds, securities and other property held in the
     Custodial Account will be forwarded to the Customer.

     (c)  Should any securities held by a Depository be called for a partial
     redemption by the issuer of such securities, the Custodian is authorized to
     accept allocation as determined pursuant to the program then in effect at
     such Depository or, in the absence of any such program, in the Custodian's
     sole discretion to allot the called portion to the respective holders in
     any manner deemed to be fair and equitable in its judgment.

     (d)  Recapitalizations and stock distributions will be credited to the
     Custodial Account within five (5) business days after the Stock Exchange
     due bill redeemable date (ten [10] business days after payable date) in
     order to comply with the normal course of settling the Custodian's position
     at the Depository and sufficient time to allocate these shares to the
     Custodial Account. Stock dividends will be credited on the payable date.

     (e)  The Custodian is authorized to exchange temporary for definitive
     certificates and old certificates for new or overstamped certificates
     evidencing a change therein.

4.   (a)  With respect to foreign securities or securities for which
     adequate financial information is not readily available, the Custodian's
     responsibility is expressly limited to safekeeping. With respect to such
     securities, the Custodian assumes no responsibility for coupon payments,
     redemptions, exchanges or similar matters affecting such securities.

     (b)  Collections of monies in foreign currency, to the extent possible, are
     to be converted to U.S. dollars at customary rates. All risk and expense
     incident to such foreign collections and conversions are for the Customer's
     account, and the Custodian shall have no responsibilty for fluctuations in
     exchange rates affecting such collections or conversions.






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5.   The Customer acknowledges its responsibility as a principal for all of
     its obligations arising under or in connection with this Agreement,
     notwithstanding that the Customer may be acting on behalf of other persons.
     The Customer warrants its authority to deposit in the Custodial Account
     and any other account of the Customer any securities and funds which the
     Custodian or its agents receive from the Customer and to give Instructions
     relative thereto: The Custodian shall not be subject to, nor shall its
     rights and obligations with respect to this Agreement and the Custodial
     Account be affected by, any agreement between the Customer and any other
     person. The Custodian assumes no liability to any customer of the Customer
     or to any beneficiary for which the Customer may be acting as agent, bailee
     or fiduciary.

6.   (a)  The Custodian shall be responsible for the performance of only
     such duties as are set forth herein or contained in Instructions given to
     the Custodian which are not contrary to the provisions of this Agreement.
     The Custodian will use reasonable care with respect to the safekeeping of
     securities in the Custodial Account and, except as otherwise expressly
     provided herein, in carrying out its obligations under this Agreement. So
     long as and to the extent that it has exercised reasonable care, the
     Custodian shall not be responsible for the title, validity or genuineness
     of any securities or evidence of title thereto received by it or delivered
     by it pursuant to this Agreement and shall be held harmless in acting upon,
     and may conclusively rely on, without liability for any loss resulting
     therefrom, any notice, request, consent, certificate or other instrument
     reasonably believed by it to be genuine and to be signed or furnished by
     the proper party or parties, including, without limitation, Instructions,
     and shall be indemnified by the Customer for any losses, damages, costs and
     expenses (including, without limitation, the fees and expenses of counsel)
     incurred by the Custodian and arising out of action taken or omitted with
     reasonable care by the Custodian hereunder or under any Instructions. With
     respect to a Depository, the Custodian shall only be responsible or liable
     for losses arising from employment of such Depository caused by the
     Custodian's own failure to exercise reasonable care. In the event of any
     loss to the Customer by reason of the failure of the Custodian or a
     Subcustodian to exercise reasonable care, the Custodian shall be liable to
     the Customer to the extent of the Customer's actual damages at the time
     such loss was discovered, without reference to any special conditions or
     circumstances. In no event shall the Custodian be liable for any
     consequential or special damages. The Custodian shall be entitled to rely,
     and may act, on any advice provided by counsel for the Customer on any
     matters relating to this Agreement, and the Custodian shall be without
     liability for any action reasonably taken or omitted pursuant to such
     advice.

     (b)  In the event the Customer subscribes to an electronic on-line service
     and communications system offered by the Custodian, the Customer shall be
     fully responsible for the security of the Customer's connecting terminal,
     access thereto and the proper and authorized use thereof and the initiation
     and application of continuing effective safeguards with respect thereto and
     agrees to defend and indemnify the Custodian and hold the Custodian
     harmless from and against any and all losses, damages, costs and expenses
     (including the fees and expenses of counsel) incurred by the Custodian as a
     result of any improper or unauthorized use of such terminal by the Customer
     or by any others.

     (c)  Subject to the exercise of reasonable care, the Custodian shall have
     no liability for any loss occasioned by delay in the actual receipt of
     notice by the Custodian or by a Subcustodian of any payment, redemption or
     other transaction regarding securities in the Custodial Account in respect
     of which the Custodian has agreed to take action under this Agreement. The
     Custodian shall not be liable for any loss resulting from, or caused by,
     acts of governmental authorities (whether de jure or de facto), including,
     without limitation, nationalization, expropriation and the imposition of
     currency restrictions; devaluations of or fluctuations in the value of
     currencies; changes in laws and regulations applicable to the banking or
     securities industry; market conditions that prevent the orderly execution
     of securities transactions or affect the value of securities; acts of war,
     terrorism, insurrection or revolution; strikes or work stoppages; the
     inability of a local clearing and settlement system to settle transactions
     for reasons beyond the control of the Custodian; nuclear fusion, fission or
     radioactivity, or hurricane, tornado, cyclone, earthquake, volcanic
     eruption or other acts of God.



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     (d)  The Custodian shall have no liability in respect of any loss, damage
     or expense suffered by the Customer, insofar as such loss, damage or
     expense arises from the performance of the Custodian's duties hereunder by
     reason of the Custodian's reliance upon records that were maintained for
     the Customer by entities other than the Custodian prior to engagement of
     the Custodian under this Agreement.


     (e)  The Custodian shall not be liable to the Customer, and the Customer
     agrees to indemnify the Custodian and its nominees, for any loss, damage or
     expense suffered or incurred by the Custodian or its nominees arising out
     of any violation of any investment restriction or other restriction or
     limitation applicable to the Customer pursuant to any contract or any law
     or regulation.

     (f)  The provisions of this section shall survive termination of this
     Agreement.

7.   The Custodian may charge any account of the Customer for all costs incurred
     by the Custodian in connection with its receipt of securities for the
     Custodial Account. The Custodian is not obligated to effect any transaction
     or make any payment in connection therewith unless there are sufficient
     available funds on deposit in the Customer's account or funds have
     otherwise been made available to the Custodian to its satisfaction. The
     amount by which payments made by the Custodian with respect to property in,
     or to be received for, the Custodial Account, or with respect to other
     transactions pursuant to this Agreement, exceed available funds and result
     in an account overdraft shall be deemed a loan from the Custodian to the
     Customer in the amount of such overdraft, payable on demand. Such overdraft
     loan shall bear interest, to the maximum extent permitted by law, at a rate
     per annum for each day during the period commencing on the due date thereof
     until such amount shall be paid in full equal to 315 basis points above the
     previous business day's daily effective federal funds rate as published in
     Federal Reserve Statistical Release H.15, or any equivalent successor rate,
     release or publication. Any such overdraft loans shall be based on the
     Custodian's sole determination to make (or refrain from making) the
     underlying advance in each case.

8.   In order to secure the payment and performance of all of the Customer's
     liabilities to the Custodian at any time outstanding, the Customer hereby
     grants a lien and right of setoff as to the balance in any non-custodial
     account of the Customer, from time to time, and the Custodian may, at any
     time, in its sole discretion and without notice, appropriate and apply
     toward the payment of liabilities to the Custodian the balance of each such
     account and or take such other action(s) or exercise any other options,
     powers and rights which the Custodian now or hereafter has as a secured
     party under the Kansas Uniform Commercial Code or any other applicable law.
     The term "liabilities" shall include all of the Customer's liabilities
     arising hereunder, including, but not limited to, loans, other advances,
     interest, fees, charges, expenses and attorneys' fees and expenses.

9.   The Custodian agrees to provide the Customer with regular monthly reports
     of holdings in the Custodial Account, or at such more frequent intervals as
     the parties may agree. To the extent that the Custodian reports the market
     value of the Custodial Account holdings, the Customer acknowledges that the
     Custodian now obtains and will in the future obtain such information from
     outside sources that it deems to be reliable, and confirms that the
     Custodian does not verify or represent or warrant either the accuracy or
     the completeness of any such information furnished to the Customer.

10.  (a)  The Custodian shall be under no duty to take any action with respect
     to any property held in any Custodial Account except to the extent of any
     Instructions properly issued by the Customer.

     (b)  In the event that the Custodian agrees, at the request of the
     Customer, to appear on behalf of the Customer, and prosecute or defend any
     legal or equitable proceeding, the Customer agrees to indemnify the
     Custodian for any and all costs and expenses including, without limitation
     attorneys' fees and expenses.


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          (c)  The Custodian is authorized and empowered, in the name and on
          behalf of the Customer, to execute any certificates of ownership or
          other reports, declarations or affidavits that the Custodian is or may
          hereafter be required to execute and furnish under any regulation of
          the Internal Revenue Service, or other authority of the United States,
          so far as the same are required in connection with any property that
          is now or may hereafter be held in the Custodial Account, claiming no
          exceptions on behalf of the Customer. The Customer shall notify the
          Custodian immediately in writing of any material change in the
          Customer's status that may affect any such certificates, reports or
          other required documents, or on the contents thereof.

     11.  The Customer agrees to pay the Custodian, as compensation for its
          services hereunder, its applicable fees in effect from time to time,
          of which the Custodian will provide the Customer with notice.

     12.  The Customer agrees to and does hereby indemnify and hold harmless
          the Custodian from any and all loss, liability (excluding any liabi-
          lity occasioned by the negligence or misconduct of the Custodian's
          employees, or by robbery, burglary, theft or other disappearance of
          any securities while in the Custodian's physical possession), claims,
          damages and expenses (including, without limitation, attorneys' fees
          and expenses) arising from the Custodian's performance of services as
          Custodian hereunder, including matters arising out of a settlement of
          any dispute prior to the Custodian's being named as a defendant in
          any litigation or proceeding, and whether or not the Custodian is a
          party to such litigation or proceeding.

     13.  This Agreement shall continue until terminated by either party upon
          at least sixty (60) days' prior written notice to the other. In the
          event of the termination of this Agreement at the Customer's request,
          the Custodian may transfer to the Customer all stocks, bonds,
          securities and other property registered in the name of the
          Custodian's or Subcustodian's nominee or a Depository, and the
          Custodian shall charge all expenses incident to such transfer to the
          Customer's account. If termination of this Agreement is made at the
          Custodian's request, the above-described charges shall be at the
          Custodian's expense. Notwithstanding the foregoing, if the Customer
          fails to pay any amount when due under this Agreement, and fails to
          make such payment within twenty (20) days after the Custodian sends
          the Customer written notice of nonpayment, the Custodian may terminate
          this Agreement upon at least seven (7) days' prior written notice to
          the Customer and charge all expenses incident to such transfer to the
          Customer's account.

     14.  Any notice, request, consent or Instruction given, made or withdrawn
          pursuant to this Agreement shall be in writing or by machine-readable
          electronic transmission, and shall be deemed to have been duly given
          to and received by a party hereto three (3) business days after it
          shall have been mailed to such party at its address herein provided,
          postage prepaid, if delivered by first-class mail, or, if delivered
          by hand or by machine-readable electronic transmission, when actually
          received by such party at its principal office.

     15.  This Agreement embodies the entire agreement and understanding
          between the parties relating to the subject matter hereof and super-
          sedes all prior agreements between such parties, and all oral and
          written statements by either party, that relate to such subject
          matter. No modification, amendment or waiver of any provision of this
          Agreement, or consent in any departure therefrom, shall be effective
          unless executed by the party against whom such change is asserted,
          and any consent or waiver shall be effective only in the specific
          instance and for the purpose for which given.

     16.  This Agreement shall be governed by the laws of the State of Kansas
          (without reference to choice of law doctrine) and shall be binding
          upon, and inure to the benefit of, the parties and their successors
          and assigns.

     17.  The federal and state courts within the State of Kansas shall have
          sole and exclusive jurisdiction over any claim or dispute which may
          arise hereunder or which either party may allege or assert against the
          other and/or any transactions contemplated hereunder.

     18.  If any provision of this Agreement is deemed to be invalid or
          unenforceable, such determination shall not affect the validity or
          enforceability of any other provisions of this Agreement.




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CusiAgreeAminvest.doc
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19.  Kansas Insurance Department Requirements

     To the extent any provision in this Section is inconsistent with any other
     provisions of this Agreement, the provisions of this Section shall govern.
     All other terms of the Agreement shall remain in full force and effect.

     (a)  The Custodian will indemnify the Customer for any loss of securities
     of Customer in the Custodian's custody occasioned by the negligence or
     dishonesty of the Custodian's officers or employees, or burglary, robbery,
     holdup, theft, or mysterious disappearance, including loss by damage or
     destruction.

     (b)  In the event that there is a loss of the securities for which the
     Custodian is obligated to indemnify the Customer, the securities shall be
     promptly replaced or the value of the securities and the value of any loss
     of rights or privileges resulting from said loss or securities shall be
     promptly replaced.

     (c)  The Custodian shall not be liable for any failure to take any action
     required to be taken hereunder in the event and to the extent that the
     taking of such action is prevented or delayed by war (whether declared or
     not and including existing wares), revolution, insurrection, riot, civil
     commotion, act of God, accident, fire, explosion, stoppage of labor,
     strikes or other differences with employees, laws, regulations, orders or
     other acts of any governmental authority, or any other cause whatever
     beyond its reasonable control.

     (d)  Securities held in physical form will be located at Bankers Trust
     Company, 130 Liberty Street, New York, New York 10006.

     (e)  The Custodian's records shall identify the name of the clearing
     corporation, securities depository or United States Bank, the location of
     the securities, and if held through an agent, the name of the agent.

     (f)  All securities held in custody that are registered must be registered
     in the name of the Customer; in the name of a nominee of the Customer; in
     the name of the Custodian or its nominee, if held in a securities
     depository, in the name of the securities depository or its nominee; or if
     held in an authorized clearing corporation, in the name of the clearing
     corporation or its nominee as provided in K.S.A. 40-2b20.

     (g)  The obligations of the Custodian under this Agreement shall not be
     released as a result of a clearing corporation or securities depository
     holding the securities held in custody.

     (h)  The Custodian may utilize the Federal Reserve System book entry
     program.

     (i)  The Custodian may utilize the facilities of a securities depository or
     authorized clearing corporation.

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IN WITNESS WHEREOF, the parties have caused this Agreement to be signed in
their names by their duly authorized officers as of the date first
above-written.


                                 American Investors Life Insurance Company, Inc.
                                 555 S. Kansas Avenue
                                 P.O. Box 2039
                                 Topeka, KS 66601-2039


                            By:  /s/   Mark V. Heitz
                                 ----------------------------------------------
                                              Authorized Signature


                                            Mark v. Heitz, President
                                 ----------------------------------------------
                                              Typed Name and Title


Attest:  /s/ Michael H. Miller
         -----------------------

       Michael H. Miller
--------------------------------
           Secretary


                                 Federal Home Loan Bank of Topeka
                                 2 Townsite Plaza
                                 P.O. Box 176
                                 Topeka, KS 66601-0176


Date:  April 17, 2000            By:  /s/  Steven D. Reichle
       ------------------------       -----------------------------------------


                                              Steven D. Reichle, SVP
                                      -----------------------------------------
                                               Typed Name and Title

Attest:  /s/ Tad Kramer
         -----------------------

          Tad Kramer
--------------------------------
           Secretary




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