Heartland National Life At a Glance: Rates, Products and Reviews

Heartland National Life Insurance Company was founded in 1965. Despite being around for more around six decades the company only ramped up its annuity offerings in the early 2020s.

Its specialty lies in offering MYGAs, which tend to be a great fit if you’re looking for a low-risk investment option that can serve as an additional source of income during your retirement years.

A multi-year guaranteed annuity (MYGA) is a type of fixed annuity with a guaranteed interest rate, generally lasting for three to 10 years. Withdrawing funds before the end of the term may trigger surrender charges.

Generally speaking, MYGAs are low-risk, give you flexibility to access your balance and offer tax-deferred growth.

Heartland National only offers one MYGA. While it currently focuses on one type of annuity, more options are expected soon.

Heartland’s Secure Rate MYGA has terms of three, five, seven and 10 years.

You can purchase a Secure Rate MYGA up to the age of 90, and it is available in both tax-qualified and non-qualified markets. However, this annuity is not offered in certain states, including California, Louisiana, North Carolina, Virginia, New Jersey, Connecticut, New York, Massachusetts, Rhode Island, New Hampshire, Maine, Michigan, Wisconsin, Minnesota, Idaho and Washington.

The Secure Rate MYGA includes beneficial riders to provide added flexibility. A free-withdrawal rider allows you to withdraw up to 5% of your annuity’s accumulated interest without incurring an early withdrawal penalty.

Additionally, an enhanced benefit rider enables you to withdraw up to 100% of the accumulation value under specific conditions, such as a terminal illness diagnosis with a life expectancy of 12 months or fewer or confinement in a qualified nursing care facility.

When your annuity contract is within 30 days of ending, you have several options: renew it for another guarantee period of the same length, make a penalty-free surrender or partial withdrawal or withdraw the full accumulation value.

The table below outlines the current Secure Rate MYGA interest rates, helping you compare term options and choose the best fit for your financial goals.

Todd Wyss, Heartland’s vice president of annuities, told Annuity.org that the company had filed a second version of the MYGA with more options. “The goal is to roll launch a fixed annuity and a second version MYGA in the second quarter,” said Wyss.

According to Wyss, what sets Heartland National apart is that it is a company “by agents, for agents.” Wyss adds, “We pride ourselves in education/training. We do weekly trainings called ‘MYGA Minutes,’ and we do tons of site visits to train agencies.”

Heartland National had $15,970,230 in assets and $9,438,554 in liabilities in 2023, according to the National Association of Insurance Commissioners (NAIC).

As of February 2025, the BBB rated Heartland National with a C- due to failure to respond to one of two complaints filed against the business.

According to A.M. Best’s Rating Review Form, Heartland National Life Insurance Company currently holds a B++ (Good) Financial Strength Rating and a bbb (Good) Long-Term Issuer Credit Rating.

Heartland National Life Insurance could be a solid choice if you’re seeking a stable, low-risk annuity product with guaranteed returns. The company’s Secure Rate MYGA offers competitive rates, flexible withdrawal options and beneficial riders that provide financial security in case of terminal illness or nursing home confinement.

If you prioritize a straightforward, agent-focused experience with quick processing times, Heartland may be a good fit. However, if you require more diverse annuity options or are in a state where Heartland does not operate, you might need to explore alternatives.

Editor Norah Layne contributed to this article.