Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three Months Ended March 31, 2011 and 2010

(Amounts in thousands, except per share data)

	Three Months Ended March 31,
	2011		2010
Basic – assumes no dilution:
Net income	$	25,941	$	22,603
Weighted average number of common shares outstanding during the period		39,749		39,206
Net income per share – basic	$	0.65	$	0.58
Diluted – assumes full dilution:
Net income	$	25,941	$	22,603
Weighted average number of common shares outstanding during the period		39,749		39,206
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options		304		194
Common stock units related to deferred compensation for Directors		92		211
Common stock units related to deferred compensation for Employees		195		192
Restricted common stock units related to incentive compensation		1,359		1,097
Total common and common equivalent shares adjusted to calculate diluted earnings per share		41,699		40,900
Net income per share – diluted	$	0.62	$	0.55