The transaction will involve approximately 34,350 variable policies and contracts, which Kansas City Life is expected to start servicing in early 2014.
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This transaction is subjected to review by the Wisconsin Office of the Commissioner of Insurance (OCI).
Commenting on the transfer, AFLIC vice president, Al Meyer, said: "American Family will continue to focus on the sales and service of our core life insurance products, which include term, universal and whole life products and annuities.
"American Family will partner closely with Kansas City Life to help make sure this transition is as seamless as possible for the variable product customers," Meyer added.
AFLIC, the life insurance affiliate of American Family Insurance Group, discontinued the sale of variable universal life insurance policies and variable annuities in 2009, but continued to provide all servicing for the existing variable universal life insurance policies and variable annuities.
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