Exhibit 12

Nationwide Financial Services, Inc. and Subsidiaries

Statement Regarding Computation of Earnings to Fixed
Charges

(in millions)



|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|------------------------------------------------------------------------------------------------ |  | ----------------------- | ------- | ---- | - | ------- |  | ---- | ------- | ---- | - | ------- |  | - | -------
|                                                                                                 |  | Years ended December 31
|                                                                                                 |  | 2005                    |         | 2004 |   | 2003    |  | 2002 |         | 2001
|Earnings:                                                                                        |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Income from continuing operations before federal income tax expense                              |  | $                       | 755.8   |      | $ | 673.4   |  | $    | 515.7   |      | $ | 137.3   |  | $ | 572.4  
|Fixed charges                                                                                    |  |                         | 1,510.6 |      |   | 1,430.7 |  |      | 1,463.4 |      |   | 1,337.4 |  |   | 1,290.7
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|                                                                                                 |  | $                       | 2,266.4 |      | $ | 2,104.1 |  | $    | 1,979.1 |      | $ | 1,474.7 |  | $ | 1,863.1
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Fixed Charges:                                                                                   |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Interest credited to policyholder account balances                                               |  | $                       | 1,380.9 |      | $ | 1,328.3 |  | $    | 1,367.6 |      | $ | 1,260.7 |  | $ | 1,235.8
|Interest on debt                                                                                 |  |                         | 108.0   |      |   | 102.4   |  |      | 95.8    |      |   | 76.7    |  |   | 54.9   
|Debt extinguishment costs                                                                        |  |                         | 21.7    |      |   |        |  |      |        |      |   |        |  |   |       
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|                                                                                                 |  | $                       | 1,510.6 |      | $ | 1,430.7 |  | $    | 1,463.4 |      | $ | 1,337.4 |  | $ | 1,290.7
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Ratio of earnings to fixed charges                                                               |  |                         | 1.5     |      |   | 1.5     |  |      | 1.4     |      |   | 1.1     |  |   | 1.4    
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Ratio of earnings to fixed charges, excluding interest credited to policyholder account balances |  |                         | 6.8     |      |   | 7.6     |  |      | 6.4     |      |   | 2.8     |  |   | 11.4   
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |