"This is his way to get the last laugh," Nationwide ad executive Steven Schreibman tells PEOPLE.

The commercial, which Federline, 28, started filming Tuesday in Los Angeles, will air during the third quarter of the Super Bowl on Feb. 4. On the set, Federline has been "so humble, so professional," says Schreibman. "Everyone has fallen in love with him."

Schreibman added: "No one has personified 'Life comes at you fast' in the media better than Kevin Federline. Our partnership with Kevin shows the world that he has a great sense of humor."

Kevin Federline says his Nationwide Insurance ad is a sign of a "new Kevin" for 2007.

"This is just the start of other things to come - '07 is a completely life-changing experience for me," Federline, 28, told PEOPLE.

"We're only a few weeks in, and it's already going in a whole another direction. I'm happy. Definitely happy."

"I always look at everything positive no matter what," he said. "I've been through a lot of stuff in my life and had to overcome a lot of different situations. I learned at a young age it's not good to be negative about everything. Life's too short for that."

"The best thing about being a father is my children. That's it. There's nothing greater in life than that to me."