Exhibit 12.1

CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Dollars in millions)

	Three months ended		Year ended December 31,
	March 31,  2015		2014		2013			2012			2011			2010
Pretax income from operations:
Net income	$	52.8	$	51.4	$	478.0		$	221.0		$	335.7		$	240.6
Add income tax expense (benefit)		29.5		123.7		(173.2	)		(65.3	)		(29.5	)		(15.7	)
Pretax income from operations		82.3		175.1		304.8			155.7			306.2			224.9
Add fixed charges:
Interest expense on corporate debt		10.5		43.9		51.3			66.2			76.3			79.3
Interest expense on investment borrowings and borrowings related to variable interest entities		11.0		48.9		54.0			48.4			37.8			33.9
Interest added to policyholder account balances		31.6		173.0		232.5			260.5			282.5			303.9
Portion of rental (a)		4.0		15.1		13.3			14.6			13.1			13.0
Fixed charges		57.1		280.9		351.1			389.7			409.7			430.1
Adjusted earnings	$	139.4	$	456.0	$	655.9		$	545.4		$	715.9		$	655.0
Ratio of earnings to fixed charges		2.44X		1.62X		1.87X			1.40X			1.75X			1.52X

(a) Interest portion of rental is estimated to be 33 percent.