AMVESTORS FINANCIAL CORPORATION
PROXY FOR ANNUAL MEETING OF STOCKHOLDERS
April 11, 1996
Please Sign and Return Immediately
The undersigned hereby appoints Ralph W. Laster, Jr. and Mark V. Heitz, or
either of them, with powers of substitution, attorneys and proxies to
represent the undersigned at the Annual Meeting of Stockholders of AmVestors
Financial Corporation, to be held on May 16, 1996, at the Doubletree Hotel,
8801 N.W. 112th Street, Kansas City, Missouri 64153, and at any adjournment or
adjournments thereof, with all power which the undersigned would possess if
personally present and to vote all shares of stock which the undersigned may
be entitled to vote at said meeting.

(A) The election of four (4) Class III directors.

RALPH W. LASTER, JR.
FOR n ________________
WITHHOLD VOTE n


R. REX LEE, M.D.
FOR n  ________________
WITHHOLD VOTE n


JAMES V. O'DONNELL

FOR n  ________________
WITHHOLD VOTE n

FRANK T. CROHN

FOR n  ________________
WITHHOLD VOTE n


(To withhold a vote for any individual nominee, check the box marked WITHHOLD
VOTE next to the nominee's name above. To cumulate votes for any nominee(s),
write the number of votes cast for each in the space provided next to the box.
The total number of votes must not exceed four times the number of shares you
hold.)

(B) To approve the AmVestors Financial Corporation 1996 Incentive Stock Option
Plan.
FOR  n                 AGAINST  n              ABSTAIN  n

(C) To ratify the selection of independent public accountants.
FOR  n                 AGAINST  n              ABSTAIN  n

(D) In their discretion, either of the above named agents is authorized to
vote upon any other matters which may come 
     before the meeting or any adjournment or adjournments thereof.
FOR  n                 AGAINST  n              ABSTAIN  n

The undersigned hereby revokes any and all powers of attorney heretofore given
to vote or act with respect to said shares; and hereby ratifies and confirms
all that said attorneys, proxies or any of them, or their substitutes, may
lawfully do by virtue hereof.
Either of the above named agents at said meeting, either personally or by
substitute, shall exercise all powers of proxies hereunder.
THIS PROXY WILL BE VOTED IN FAVOR OR AGAINST THE MATTERS SET FORTH ABOVE AS
YOU MAY INDICATE, BUT IN THE EVENT NO INDICATION IS GIVEN, SAME WILL BE VOTED
IN FAVOR OF THE NOMINEES AND THE PROPOSALS LISTED ABOVE.
Please sign your name on the signature line below in the same way it is
printed on this form. When signing as an attorney, executor, administrator,
trustee or guardian, or on behalf of a corporation, please give your full
title as such.
Dated this________________________day of ______1996
Signature 
Signature 


THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF AMVESTORS
FINANCIAL CORPORATION
MANAGEMENT RECOMMENDS A VOTE FOR ALL ITEMS