Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three and Six Months Ended June 30, 2009 and 2008

(Amounts in thousands, except per share data)

	Three Months Ended June 30,				Six Months Ended June 30,
	2009		2008		2009		2008
Basic - assumes no dilution:
Net income	$	18,604	$	4,542	$	32,035	$	18,798
Weighted average number of common shares outstanding during the period		39,172		40,116		39,168		40,586
Net income per share – basic	$	0.48	$	0.11	$	0.82	$	0.46
Diluted - assumes full dilution:
Net income	$	18,604	$	4,542	$	32,035	$	18,798
Weighted average number of common shares outstanding during the period		39,172		40,116		39,168		40,586
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options		79		32		46		43
Common stock units related to Deferred Equity Compensation Plan for Directors		220		237		220		237
Common stock units related to Deferred Compensation Plan for Employees		193		222		193		222
Restricted common stock units related to Incentive Compensation Plan		868		618		868		618
Total common and common equivalent shares adjusted to calculate diluted earnings per share		40,532		41,225		40,495		41,706
Net income per share – diluted	$	0.46	$	0.11	$	0.79	$	0.45