About Heartland National Life
Founded in 1993, Heartland National Life Insurance Co. brings over 30 years of experience to its policyholders. Headquartered in Independence, Missouri, it services 36 states but is not available everywhere, including in New York, California and Virginia.
Heartland National Life boasts over 40,000 policyholders who benefit from its life insurance and various types of annuity products. It specializes in medical supplement plans but also has a multi-year guaranteed annuity. According to the National Association of Insurance Commissioners, it has over $31 million in annual premiums and a 0.0013% market share.
The company does not share much else about its founding. However, it is active in the community, maintaining a partnership with the Kansas City Royals to fight ALS.
Annuity Products Offered
Heartland National Life offers a single retirement income option: the Secure Rate Multi-Year Guarantee Annuity.
Secure Rate Multi-Year Guarantee Annuity
The Secure Rate Multi-Year Guarantee Annuity allows consumers to lock in an interest rate for a set term so they receive compounded interest with guaranteed growth for their retirement. It features a fixed interest rate that is guaranteed for the length of the term, which can be anywhere from three to 10 years. It is issued to those up to age 90 and carries a minimum single premium of $5,000 and a maximum single premium of $1 million. However, larger amounts may be possible with home office approval.
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Features and Benefits
Heartland National Life’s multi-year guaranteed annuities come with a locked interest rate, which protects consumers from market volatility and offers greater peace of mind with lifetime income. There are annual free withdrawals of accumulated interest without surrender charges. A death benefit is included that equals the accumulation value on the date of death.
Additionally, there is the ability to customize annuities with two optional riders:
- The 5% Free Withdrawal Rider waives surrender charges on the first withdrawal in a contract up to an amount that does not exceed the greater of 5% of the accumulation value or the required minimum distribution.
- The Enhanced Benefit Rider provides access to funds in the event of a terminal illness or nursing home confinement.
Together, these riders help preserve liquidity while preparing consumers for the future.
Fees and Charges
Heartland National Life offers the following interest rates, as of Jan. 22, 2025.
Heartland National Life Interest Rates
| Term | Interest Rate |
| 3-year | 4.80% |
| 5-year | 5.40% |
| 7-year | 5.55% |
| 10-year | 5.55% |
Heartland National Life does not disclose its fees publicly. To find out more about fees and charges, contact a licensed financial advisor who can advise on policy details.
Financial Strength and Reputation
Ratings and reviews for Heartland National Life Insurance Co. are hard to come by. It is not rated by Fitch Ratings, and it does not place in the J.D. Power 2024 U.S. Individual Annuity Study.
AM Best gives the company a B++ (good) financial strength rating.
Reviews are sparse, making determining overall customer satisfaction difficult. The NAIC reports no complaints for the company, giving it a perfect 0.00 rating. The company is not accredited by the Better Business Bureau, and although it has received only one complaint, Heartland National Life has a C+ rating for failure to respond to it.
Evaluating Heartland National Life Annuities
Heartland National Life is a small company. It has just one annuity offering, which may not work for everyone, but it could be a great choice for consumers who are interested in one of its supplemental Medicare insurance or other insurance products.
Very few complaints are reported, and the company maintains a B++ (good) financial stability rating. However, information is limited online, so working with a financial advisor who can provide details and answer questions is best.
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Frequently Asked Questions About Heartland National Life
Heartland National Life has a B++ (Good) rating from AM Best and minimal complaints. It is not rated by Fitch and has a C+ rating from the Better Business Bureau for failure to respond to a complaint.
The Secure Rate Multi-Year Guarantee Annuity is an annuity that locks in a fixed interest rate for three to 10 years, providing guaranteed growth for retirement with customizable options.
Heartland National Life operates in 36 states, excluding New York, California and Virginia.
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Editor Norah Layne contributed to this article.
