EXHIBIT 12

Exhibit 12. Statement re computation of ratios

TORCHMARK CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollar amounts in thousands)

	Year Ended December 31,
	2004		2003		2002
Earnings before fixed charges:
Pre-tax earnings	$	720,801	$	653,112	$	578,397
Fixed charges		58,220		57,695		59,092
Earnings before fixed charges	$	779,021	$	710,807	$	637,489
Fixed charges:
Interest expense*	$	55,881	$	55,565	$	57,427
Amortization of bond issue costs		610		570		532
Estimated interest factor of rental expense		1,729		1,560		1,133
Total fixed charges	$	58,220	$	57,695	$	59,092
Ratio of earnings to fixed charges		13.4		12.3		10.8
Earnings before fixed charges	$	779,021	$	710,807	$	637,489
Interest credited for deposit products		51,574		54,579		54,743
Adjusted earnings before fixed charges	$	830,595	$	765,386	$	692,232
Fixed charges	$	58,220	$	57,695	$	59,092
Interest credited for deposit products		51,574		54,579		54,743
Adjusted fixed charges	$	109,794	$	112,274	$	113,835
Ratio of earnings to fixed charges including interest credited on deposit products as a fixed charge		7.6		6.8		6.1
Rental expense	$	5,238	$	4,727	$	3,432
Estimated interest factor of rental expense (33%)	$	1,729	$	1,560	$	1,133

* There was no interest capitalized in any period indicated.