Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share

For the Years Ended December 31, 2007, 2006 and 2005

(Amounts in thousands, except per share data)

	Year Ended December 31,
	2007			2006			2005
Basic - assumes no dilution:
Net income for the period	$	82,788		$	98,708		$	77,273
Weighted average number of common shares outstanding during the period		43,145			43,012			42,913
Net income per share - basic	$	1.92		$	2.29		$	1.80
Diluted - assumes full dilution:
Net income for the period	$	82,788		$	98,708		$	77,273
Interest expense, net of tax, on dilutive Senior Convertible Notes		279			1,336			2,737
Adjusted net income for the period	$	83,067		$	100,044		$	80,010
Weighted average number of common shares outstanding during the period		43,145			43,012			42,913
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options		233			114			136
Common stock units related to Deferred Equity Compensation Plan for Directors		228			214			192
Common stock units related to Deferred Compensation Plan for Employees		219			150			146
Restricted common stock units related to Incentive Compensation Plan		342			253			155
Weighted average number of common equivalent shares to reflect the dilutive effect of Senior Convertible Notes		444			2,030			4,343
Total common and common equivalent shares adjusted to calculate diluted earnings per share		44,611			45,773			47,885
Net income per share – diluted	$	1.86		$	2.19		$	1.67
Percentage of dilution compared to basic net income per share		3.1	%		4.4	%		7.2	%