| **Exhibit** **12**                                                                                                                                                                                              |
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| **ING** **USA** **ANNUITY** **AND** **LIFE** **INSURANCE** **COMPANY**                                                                                                                 |
| **COMPUTATION** **OF** **EARNINGS** **TO** **FIXED** **CHARGES** **RATIO**                                                                                                             |
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|                                                                                                                                                                                                                 |   |   |   |   | **Three** **Months** |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   |   |   |   | **Ended** |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   |   |   |   | **March** **31,** |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   |   |   |   | **2009** |   |   | **2008** |   |   | **2007** |   |   | **2006** |   |   | **2005** |   |   | **2004** |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 | **Earnings:** |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 1.                                                                                                                                                                                                                   | Income (loss) before income taxes |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | and cumulative effect of changes  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | in accounting principles | $ | (327.4) |   | $ | (1,626.4) |   | $ | 127.4  |   | $ | 276.6  |   | $ | 224.1  |   | $ | 173.6  |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 | **Fixed** **Charges:** |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2.                                                                                                                                                                                                                   | Interest expense |   | 7.3  |   |   | 30.5  |   |   | 32.5  |   |   | 30.3  |   |   | 29.6  |   |   | 5.1  |
| 3.                                                                                                                                                                                                                   | Interest factor on rental expense |   | 1.2  |   |   | 5.1  |   |   | 5.5  |   |   | 6.5  |   |   | 8.0  |   |   | 5.0  |
| 4.                                                                                                                                                                                                                   | Interest credited to contractowners |   | 229.0  |   |   | 1,024.1  |   |   | 1,067.0  |   |   | 980.8  |   |   | 946.5  |   |   | 903.6  |
| 5.                                                                                                                                                                                                                   | Net (undistributed) distributed  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | income from equity investees |   | 19.3  |   |   | 90.9  |   |   | (11.7) |   |   | (1.7) |   |   | (1.6) |   |   | (1.8) |
| 6.                                                                                                                                                                                                                   | **Total** **fixed** **charges**  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | (2 + 3 + 4 + 5)  |   | **256.8**  |   |   | **1,150.6**  |   |   | **1,093.3**  |   |   | **1,015.9**  |   |   | **982.5**  |   |   | **911.9**  |
| 7.                                                                                                                                                                                                                   | **Total** **fixed** **charges** |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | **excluding** **interest**  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | **credited** **to** **contractowners** **(6** **-** **4)** |   | **27.8**  |   |   | **126.5**  |   |   | **26.3**  |   |   | **35.1**  |   |   | **36.0**  |   |   | **8.3**  |
| 8.                                                                                                                                                                                                                   | **Earnings** **and** **fixed** **charges** **(1** **+** **6)** |   | **(70.6)**  |   |   | **(475.8)** |   |   | **1,220.7**  |   |   | **1,292.5**  |   |   | **1,206.6**  |   |   | **1,085.5**  |
| 9.                                                                                                                                                                                                                   | **Earnings** **and** **fixed** **charges,**  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | **excluding** **interest** **credited**  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | **to** **contractowners** **(1** **+** **7)** |   | **(299.6)** |   |   | **(1,499.9)** |   |   | **153.7**  |   |   | **311.7**  |   |   | **260.1**  |   |   | **181.9**  |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 | **Ratios:** |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 10.                                                                                                                                                                                                                  | Earnings and fixed charges, to total  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | fixed charges (8 / 6) |   | (0.3) |   |   | (0.4) |   |   | 1.1  |   |   | 1.3  |   |   | 1.2  |   |   | 1.2  |
| 11.                                                                                                                                                                                                                  | Earnings and fixed charges,  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | excluding interest |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | credited to contractowners  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | to total fixed charges (9 / 7) |   | (10.8) |   |   | (11.9) |   |   | 5.8  |   |   | 8.9  |   |   | 7.2  |   |   | 21.9  |
| 12.                                                                                                                                                                                                                  | Deficiency of earnings to fixed  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   | charges (6 - 8)* | $ | 327.4  |   | $ | 1,626.4  |   | $ | -   |   | $ | -   |   | $ | -   |   | $ | -   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| *Represents additional earnings that would be necessary to result in a one to one ratio of earnings to fixed charges. |
| NM - Not meaningful.                                                                                                                                                                                  |

 

 

 

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