|                                                         |        |                                 |         |        |         |        |         |         |         |        |         |         |        |         |         |        |        |   |         |        |
|---------------------------------------------------------|--------|---------------------------------|---------|--------|---------|--------|---------|---------|---------|--------|---------|---------|--------|---------|---------|--------|--------|---|---------|--------|
| FBL Financial Group, Inc.                               |
| Exhibit 12-Statement Re: Computation of Ratios          |
| Ratio of Earnings to Fixed Charges                      |
|                                                    |   |                            |    |   |    |   |    |    |    |   |
|                                                    |   |                            |    |   |    |   |    |    |    |   |
|                                                    |   | For the year ended December 31, |
|                                                    |   | 2010                            |    | 2009   |    | 2008   |    | 2007    |    | 2006   |
|                                                    |   | (Dollars in thousands)          |
| Earnings                                                |   |                            |    |   |    |   |    |    |    |   |
| Pre-tax earnings (loss) from continuing operations      |   | $                               | 174,340 |   |    | $      | 102,161 |    |    | $      | (31,878 | )       |   | $       | 125,806 |   |   | $ | 133,488 |   |
| Less: Noncontrolling interest                           |   | 78                              |    |   | 143     |   |    | 71      |    |   | 49      |    |   | (126    | )       |
| Add: Distributed income from equity investees           |   | 1,002                           |    |   | 331     |   |    | 337     |    |   | 438     |    |   | 2,021   |    |
|                                                    |   | 175,420                         |    |   | 102,635 |   |    | (31,470 | )       |   | 126,293 |    |   | 135,383 |    |
|                                                    |   |                            |    |   |    |   |    |    |    |   |
| Fixed charges                                           |   | 466,041                         |    |   | 370,229 |   |    | 353,209 |    |   | 422,951 |    |   | 296,074 |    |
| Less: Capitalized bonus interest                        |   | (463                            | )       |   | (4,219  | )      |    | (7,095  | )       |   | (9,636  | )       |   | (3,886  | )       |
| Add: Amortization of capitalized interest               |   | 3,655                           |    |   | 10,847  |   |    | 4,141   |    |   | 6,255   |    |   | 5,985   |    |
|                                                    |   |                            |    |   |    |   |    |    |    |   |
| Total earnings                                          |   | $                               | 644,653 |   |    | $      | 479,492 |    |    | $      | 318,785 |    |   | $       | 545,863 |   |   | $ | 433,556 |   |
|                                                    |   |                            |    |   |    |   |    |    |    |   |
| Fixed charges                                           |   |                            |    |   |    |   |    |    |    |   |
| Interest credited to contract holders                   |   | $                               | 439,658 |   |    | $      | 339,498 |    |    | $      | 325,313 |    |   | $       | 395,392 |   |   | $ | 279,257 |   |
| Capitalized bonus interest credited to contract holders |   | 463                             |    |   | 4,219   |   |    | 7,095   |    |   | 9,636   |    |   | 3,886   |    |
| Interest expense on debt                                |   | 24,454                          |    |   | 25,280  |   |    | 19,567  |    |   | 16,666  |    |   | 11,744  |    |
| Estimate of interest within rental expense              |   | 1,466                           |    |   | 1,232   |   |    | 1,234   |    |   | 1,257   |    |   | 1,187   |    |
| Total fixed charges                                     |   | $                               | 466,041 |   |    | $      | 370,229 |    |    | $      | 353,209 |    |   | $       | 422,951 |   |   | $ | 296,074 |   |
|                                                    |   |                            |    |   |    |   |    |    |    |   |
| Ratio of earnings to fixed charges                      |   | 1.38                            |    |   | 1.30    |   |    | 0.90    |    |   | 1.29    |    |   | 1.46    |    |
|                                                    |   |                            |    |   |    |   |    |    |    |   |
| Earnings deficiency                                     |   | —                         |    |   | — |   |    | $       | (34,424 | )      |    | — |   |    | — |   |