Aflac Incorporated 2nd Quarter 2006 Form 10-Q

EXHIBIT 12

Aflac Incorporated and Subsidiaries
Ratio of Earnings to Fixed Charges

			Three Months Ended				Six Months Ended
			June 30,				June 30,
(In thousands)			2006		2005		2006			2005
Fixed charges:
	Interest expense		$	4,777	$	5,557	$	9,692	$	11,446
	Interest on investment-type contracts			2,991		2,298		5,705		4,470
	Rental expense deemed interest			218		157		393		311
		Total fixed charges	$	7,986	$	8,012	$	15,790	$	16,227
Earnings before income tax			$	624,214	$	515,901	$	1,198,640	$	1,022,420
Add back:
	Total fixed charges			7,986		8,012		15,790		16,227
		Total earnings before income
		tax and fixed charges	$	632,200	$	523,913	$	1,214,430	$	1,038,647
		Ratio of earnings to fixed charges		79.2x		65.4x		76.9x		64.0x

EXH 12-1