Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share

For the Years Ended December 31, 2012, 2011 and 2010

(Amounts in thousands, except per share data)

	Year Ended December 31,
	2012			2011			2010
Basic - assumes no dilution:		As Adjusted     As Adjusted
Net income for the period	$	103,866		$	70,506		$	80,131
Weighted average number of common shares outstanding during the period		39,514			39,866			39,350
Net income per share - basic	$	2.63		$	1.77		$	2.04
Diluted - assumes full dilution:
Net income for the period	$	103,866		$	70,506		$	80,131
Weighted average number of common shares outstanding during the period		39,514			39,866			39,350
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options		222			206			255
Common stock units related to deferred compensation for Directors		112			114			107
Common stock units related to deferred compensation for Employees		116			115			195
Restricted common stock units related to incentive compensation		1,424			1,136			1,106
Total common and common equivalent shares adjusted to calculate diluted earnings per share		41,388			41,437			41,013
Net income per share – diluted	$	2.51		$	1.70		$	1.95
Percentage of dilution compared to basic net income per share		4.6	%		4.0	%		4.4	%