Exhibit 99.2

[Horace Mann Educators Corporation logo]

HORACE MANN REPORTS RESULTS

FOR THIRD QUARTER

SPRINGFIELD, Ill., October 28, 2009 — Horace Mann Educators Corporation (NYSE:HMN) today reported net income of $19.3 million (48 cents per share) and $51.3 million ($1.27 per share) for the three and nine months ended September 30, 2009, respectively, compared to net losses of $30.8 million (79 cents per share) and $12.0 million (30 cents per share) for the same periods in 2008. Included in net income were net realized gains on securities of $11.5 million ($7.4 million after tax, or 19 cents per share) and $21.7 million ($14.0 million after tax, or 35 cents per share) for the three and nine months ended September 30, 2009, respectively. In the same periods in 2008, the net losses included net realized investment losses of $45.2 million ($37.5 million after tax, or 96 cents per share) and $55.7 million ($44.2 million after tax, or $1.10 per share), respectively. All per-share amounts are stated on a diluted basis.

“With the continuing improvement and stabilization of the financial markets in the third quarter, our confidence in the quality of our investment portfolio has been reaffirmed. We ended the quarter in a net unrealized gain position, with reported book value per share increasing 30 percent sequentially to $18.59. Meanwhile, key balance sheet ratios, as well as risk based capital, remain more than adequate to support our ratings,” said Louis G. Lower, President and Chief Executive Officer. “Horace Mann’s financial stability, combined with our established position in the educator niche market, contributed to another strong quarter in annuity sales, which increased 23 percent compared to a year ago, with the last two quarters of annuity net fund flows hitting record levels. While the reduced number of new car sales this year puts pressure on applications for true new auto units, we continue to close the gap to prior year and would expect additional improvement, as our growth in total points of distribution and recent growth in agent count build on the momentum we’ve established to transform our distribution system to a new, more powerful model.”

1

“Net income before realized investment gains and losses was 29 cents per share for the third quarter compared to 17 cents a year ago,” continued Lower. “Due to the absence of hurricanes, catastrophe losses in the quarter were significantly less than prior year, although non-hurricane catastrophes were well above normal levels during the period. In addition, for the current accident year and excluding catastrophes, our property and casualty combined ratio of approximately 97 percent in the current quarter was about 10 percentage points greater than 2008, about 3 percentage points of which was due to the re-estimation and strengthening of 2009 accident year reserves. The remainder of the unfavorable prior year combined ratio variance in part reflected an increase in large property losses, primarily sinkhole claims in Florida. In addition, for our auto line the adverse prior year variance was in large part due to the extremely favorable loss experience in the third quarter of 2008, which reflected the impact of higher gas prices on miles driven. Year to date, the current accident year auto loss ratio is only slightly above prior year and is consistent with our expectations. Meanwhile, combined annuity and life segment pretax earnings increased approximately 10 percent in the third quarter compared to prior year, primarily due to improvement in the interest margin and the positive impact of market performance.”

“We are updating our estimate of full-year 2009 net income before realized investment gains and losses to between $1.37 and $1.47 per share, reflecting the higher level of non-catastrophe losses in our property line, partially offset by the favorable results in our annuity business,” Lower said. “This projection assumes a normal level of property and casualty weather losses and moderate appreciation in the financial markets in the fourth quarter.”

Segment Earnings

The property and casualty segment recorded net income of $3.8 million for the quarter, an increase of $5.1 million compared to the same period in 2008. Pretax catastrophe costs in the current quarter were $12.3 million compared to $36.2 million incurred in the third quarter of 2008. The third quarter 2009 property and casualty combined ratio was 104.1 percent, including 8.9 percentage points due to catastrophe costs, compared to 109.7 percent, including 26.9 percentage points due to catastrophe costs, in the prior year period. Favorable prior years’ reserve development totaling $2.8 million was recorded in the third quarter, which represented 2.0 percentage points on the combined ratio, compared to $6.3 million, or 4.7 percentage points on the combined ratio, recorded in the third quarter of 2008. Adverse development of claims incurred in the first two quarters of 2009 resulted in current accident year reserves being strengthened by $4.2 million, with a combined ratio impact of 3.1 percentage points, in the third quarter.

Annuity segment net income was $7.3 million for the three months ended September 30, 2009, reflecting an increase of $1.0 million compared to the same period in 2008. In the third quarter, the positive market performance had a favorable impact on both the valuation of annuity

2

deferred policy acquisition costs and the level of guaranteed minimum death benefit reserves. In contrast, however, financial market performance over the past 12 months adversely affected the level of charges and fees earned on variable contract deposits in the quarter compared to prior year, which partially offset the higher interest margin earned on fixed annuity assets in the current period. Total annuity net fund flows continued to be positive in the quarter, as they were throughout 2008, and total cash value persistency of nearly 94 percent increased about 1 percentage point compared to a year earlier.”

Life segment net income of $4.5 million for the third quarter was slightly higher compared to the same period in 2008, with growth in investment income nearly offset by an increase in mortality costs. Life persistency remained in excess of 94 percent.

Segment Revenues

The company’s total premiums written and contract deposits increased 8 percent and 5 percent compared to the three and nine months ended September 30, 2008, respectively, primarily reflecting increases in annuity deposit receipts in the current periods.

Total property and casualty premiums written increased 2 percent compared to both the three and nine months ended September 30, 2008, primarily due to increases in average property and auto premiums per policy.

Annuity deposits received increased 21 percent and 13 percent compared to the three and nine months ended September 30, 2008, respectively. Life segment insurance premiums and contract deposits decreased 2 percent compared to the prior year periods.

Sales and Distribution

For the three and nine months ended September 30, 2009, total new auto sales units were 3 percent and 4 percent lower in the respective current periods than in the prior year. “In spite of the adverse prior year comparisons in total units, average agent true new auto productivity increased in the current nine months,” said Lower. Following a 50 percent increase in the first half of 2009, total annuity sales increased 23 percent in the quarter resulting in a 38 percent increase for the nine months compared to the prior year. While both flexible premium sales and single and rollover deposits increased approximately 38 percent, the year-to-date overall growth was driven primarily by single and rollover deposits. In the third quarter of 2009, new life business — including both Horace Mann and partner company products — increased over 20 percent, with growth in the company’s new life business driven by the recent introduction of a new educator-focused portfolio of Horace Mann term and whole life products.

3

At September 30, 2009, Horace Mann’s 694 agents represented an increase of nearly 1 percent compared to a year earlier. The number of agents grew sequentially in each of the three quarters in 2009, resulting in a 4 percent increase in agent count since year-end 2008. Including 519 licensed producers who work for the agents, Horace Mann’s total points of distribution increased to 1,213, a growth of 16 percent over a year earlier. “We continue to be encouraged by the increase in the number of agents this year. This quarter’s year-over-year agent growth, coupled with the positive impact that our new Agency Business Model is having on productivity and the recent enhancements made to our field sales management structure, bodes well for Horace Mann’s future growth prospects,” said Lower.

Investment Gains and Losses

In the third quarter of 2009, pretax net realized investment gains were $11.5 million, which included $1.3 million of credit-related impairment write-downs, attributable to three issuers, and $0.5 million of realized impairment losses on securities that were disposed of during the quarter. The impairment amounts were more than offset by approximately $13 million of realized gains on other security sales.

Horace Mann’s net unrealized investment gains on fixed maturity and equity securities of $84.1 million at September 30, 2009 improved significantly compared to the net unrealized losses of $171.3 million, $359.6 million and $327.2 million recorded at June 30, 2009, March 31, 2009 and December 31, 2008, respectively. “Credit spreads continued to tighten across virtually all asset classes in the third quarter, with our investment grade corporate bond portfolio experiencing the most significant improvement in fair value. Some of the more highly stressed asset classes also showed improvement, including our CMBS portfolio and our financial institution bond and preferred stock holdings,” said Lower. “In light of the continued widespread improvement in the credit markets, coupled with our insignificant exposure to sub-prime, Alt-A, other lower-quality structured securities and commercial mortgage whole loans, we remain very comfortable with the underlying credit quality of our investment portfolio and have a high level of confidence that any future investment losses relating to the current economic environment will be very manageable.”

Horace Mann — the largest national multiline insurance company focusing on educators’ financial needs — provides auto and homeowners insurance, retirement annuities, life insurance and other financial solutions. Founded by Educators for Educators^® in 1945, the company is headquartered in Springfield, Ill. For more information, visit www.horacemann.com.

4

Statements included in this news release that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties. Horace Mann is not under any obligation to (and expressly disclaims any such obligation to) update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to the company’s Quarterly Report on Form 10-Q for the period ended June 30, 2009 and the company’s past and future filings and reports filed with the Securities and Exchange Commission for information concerning the important factors that could cause actual results to differ materially from those in forward-looking statements.

# # #

HORACE MANN EDUCATORS CORPORATION

Digest of Earnings and Highlights (Unaudited)

(Dollars in Millions, Except Per Share Data)

N.M. - Not meaningful.

1

HORACE MANN EDUCATORS CORPORATION

Statements of Operations and Supplemental GAAP Consolidated Data (Unaudited)

(Dollars in Millions)

N.M. - Not meaningful.

2

HORACE MANN EDUCATORS CORPORATION

Supplemental Business Segment Overview (Unaudited)

(Dollars in Millions)

N.M. - Not meaningful.

3

HORACE MANN EDUCATORS CORPORATION

Supplemental Business Segment Overview (Unaudited)

(Dollars in Millions)

N.M. - Not meaningful.

4

HORACE MANN EDUCATORS CORPORATION

Supplemental Business Segment Overview (Unaudited)

(Dollars in Millions)