EXHIBIT 12 HORACE MANN EDUCATORS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FOR THE YEARS ENDED DECEMBER 31, 1996, 1995, 1994, 1993 AND 1992 (DOLLARS IN MILLIONS) YEAR ENDED DECEMBER 31, ------------------------------------- 1996 1995 1994 1993 1992 ------ ------ ----- ------ ------ Income from continuing operations before income taxes $100.6 $103.6 $86.2 $112.8 $ 94.2 Interest expense 10.5 11.6 9.5 9.1 18.3 ------ ------ ----- ------ ------ Earnings $111.1 $115.2 $95.7 $121.9 $112.5 ====== ====== ===== ====== ====== Fixed charges - interest expense $ 10.5 $ 11.6 $ 9.5 $ 9.1 $ 18.3 Ratio of earnings to fixed charges 10.6x 9.9x 10.1x 13.4x 6.1x