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AMERUS GROUP CO.

EXHIBIT 12  STATEMENT RE:
COMPUTATION OF RATIOS

RATIO OF EARNINGS TO FIXED CHARGES


($ in thousands, except ratio data)


|                                   |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |         | 
|---------------------------------- | --------------------------------------------- | ---- | ------- | ------- |  | ---- | ------- | ------- |  | ---- | ------- | ------- | - | - | ------- | ------- |  | - | ------- | ------- | 
|                                   |                                               | 2004 |         | 2003    |  | 2002 |         | 2001    |  | 2000
|                                   |                                               |      |         |         |  |      |         |         |  |     
|Earnings                           |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |        
|                                   | Pre-tax income from continuing operations     |      | $       | 228,294 |  |      | $       | 239,238 |  |      | $       | 89,157  |   |   | $       | 119,377 |  |   | $       | 115,737 | 
|                                   | Less: Minority interest                       |      |         |        |  |      |         |        |  |      |         |        |   |   |         |        |  |   |         | 21,677  | 
|                                   | Less: Income (loss) from equity investees     |      |         | 8,105   |  |      |         | 12,563  |  |      |         | (3,993  | ) |   |         | 5,072   |  |   |         | 3,481   | 
|                                   | Add: Distributed income from equity investees |      |         | 564     |  |      |         | 1,521   |  |      |         | 2,591   |   |   |         | 7,730   |  |   |         | 4,449   | 
|                                   |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |        
|                                   |                                               |      | 220,753 |         |  |      | 228,196 |         |  |      | 95,741  |         |   |   | 122,035 |         |  |   | 95,028  |        
|                                   | Fixed charges                                 |      |         | 556,985 |  |      |         | 570,646 |  |      |         | 492,093 |   |   |         | 371,667 |  |   |         | 344,363 | 
|                                   |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |        
|Total Earnings                     |                                               | $    | 777,738 |         |  | $    | 798,842 |         |  | $    | 587,834 |         |   | $ | 493,702 |         |  | $ | 439,391 |        
|                                   |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |        
|Fixed Charges                      |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |        
|Interest credited to policy owners |                                               | $    | 523,231 |         |  | $    | 538,622 |         |  | $    | 464,022 |         |   | $ | 341,575 |         |  | $ | 312,008 |        
|                                   | Interest expense on debt                      |      |         | 32,120  |  |      |         | 30,154  |  |      |         | 25,487  |   |   |         | 26,011  |  |   |         | 29,723  | 
|                                   | Amortization of debt issuance costs           |      |         | 928     |  |      |         | 1,137   |  |      |         | 985     |   |   |         | 3,155   |  |   |         | 1,833   | 
|                                   | Estimate of interest within rental expense    |      |         | 706     |  |      |         | 733     |  |      |         | 1,599   |   |   |         | 926     |  |   |         | 799     | 
|                                   |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |        
|Total Combined Fixed Charges       |                                               | $    | 556,985 |         |  | $    | 570,646 |         |  | $    | 492,093 |         |   | $ | 371,667 |         |  | $ | 344,363 |        
|                                   |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |        
|Ratio of Earnings to Fixed Charges |                                               |      | 1.40    |         |  |      | 1.40    |         |  |      | 1.19    |         |   |   | 1.33    |         |  |   | 1.28    |        
|                                   |                                               |      |         |         |  |      |         |         |  |      |         |         |   |   |         |         |  |   |         |