Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three Months Ended March 31, 2009 and 2008

(Amounts in thousands, except per share data)

		Three Months Ended March 31,
		2009			2008
Basic - assumes no dilution:
Net income		$	13,431		$	14,256
Weighted average number of common shares outstanding during the period			39,164			41,055
Net income per share – basic		$	0.34		$	0.35
Diluted - assumes full dilution:
Net income		$	13,431		$	14,256
Weighted average number of common shares outstanding during the period			39,164			41,055
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options			20			60
Common stock units related to Deferred Equity Compensation Plan for Directors			179			213
Common stock units related to Deferred Compensation Plan for Employees			195			220
Restricted common stock units related to Incentive Compensation Plan -			827			598
Total common and common equivalent shares adjusted to calculate diluted earnings per share			40,385			42,146
Net income per share – diluted		$	0.33		$	0.34