American Life Insurance Guide > Life Insurance Brand > Voya Life Insurance
Insurance Institution Rating Form/2018 Update
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Voya introduction
Voya Insurance is also translated as Voya Insurance.Compared with other companies in the same industry in the United States, Voya Financial Group (formerly ING US Life Companies) can be regarded as a company with a young history.For a multinational financial group, insurance is just a branch of Voya's many financial products.
After Voya Finance experienced asset restructuring, its life insurance products were underwritten by ReliaStar Life Insurance Company and its parent company.Next, we will bring you a review of Voya life insurance products, and we will focus on the life insurance product business of this financial company.At the same time, I would like to ask you to do more product comparisons before submitting the policy application to ensure that your interests are better protected.
Voya Insurance's credit evaluation and product introduction
In 1990, changes in the laws and regulations of banks and insurance companies triggered a series of mergers and acquisitions. Voya Insurance's predecessor, ING, was founded in the Netherlands during this period.As a financial group, the company's history can be traced back to 1743, and its insurance business was originally established in 1845.
However, it was not until 1991 that ING (Internationale Nederlanden Groep) officially became the Voya we know today through mergers and acquisitions.After the acquisition of many insurance and non-insurance business companies, Voya's brand international reputation has rapidly increased.Its first foothold in the U.S. business was Georgia Life (Life of Georgia), has now been acquired by Voya Group, and has gained a certain market share under the promotion of insurance brokerage companies and independent brokers.
Voya's financial strength and ratings
ING ReliaStar is a well-known company and one of the few companies that has received reviews from four major independent rating agencies.Its life insurance part is rated "A-" or above by AM Best, S&P, Moody's and Fitch, which shows that the company is in a good financial position and has very promising prospects for development.
Although Voya is not the largest life insurance company, its affiliated ING is indeed one of the world's largest multinational financial institutions.With 40 million users in more than XNUMX countries around the world, ING is listed on Euronext and the New York Stock Exchange.
Voya Life Insurance Products List
Voya Financial Group has four main life insurance products
- Universal insurance
- Index Universal Insurance
- Investment universal insurance
- Life insurance
Voya Universal Insurance
Voya mainly has a universal insurance option:Universal Life CV (Called in New York Universal Life CV NY ), then we will list some parameters of the product overview.
- Eligible applicants are0-90 years old
- The minimum sum assured isFifty thousand dollars
- The minimum guaranteed interest rate is3%
- 8 additional riders
Universal insurance is a kind of lifetime insurance, or at least a long-term term insurance.Its cash value can be obtained by hedging borrowings and terminating the policy, but this affects the long-term earnings performance of the policy.
Voya Index Universal Life Insurance
Voya's exponential insurance is Indexed Universal Life Global Choice (In New York forIndexed Universal Life Global Choice NY).The basic parameter overview is almost the same as the universal insurance mentioned above, but there are some subtle differences.
Especially worthy of integration is voyaIULThe bright spot of exponential insurance products: exponential growth strategy. Voya's product also provides a growth strategy of the 2-year Global index for policyholders to choose, and the actual income exceeds the 1-year S&P500 index.This exponential growth strategy was patented by Voya because it is a composite index that integrates the US S&P500, the European Euro Stoxx 50 and the Hong Kong Hang Seng Index.When returning to the insured, the income of the two indexes with the best market performance in the year is taken. Therefore, the average annual income of this type of exponential growth is higher than that of tracking an index alone.
The difference between index-based universal life insurance is that policyholders abandon small guaranteed returns and instead link part of their cash value to an index, such as the S&P XNUMX and other robust indexes.In this way, under ideal conditions, a relatively high risk will have a higher return.
Voya Investment Universal Insurance
If you can take more risks and want to seek a more radical accumulation of cash value, you can consider Voya’sVariable Universal Life CV (Called in New YorkVariable Universal Life DB).The basic parameters of investment universal insurance are basically the same as those of the first two products, but the customer needs to insure with a professionally licensed person.
Investment universal insurance puts part of its cash value into mutual funds in order to obtain higher returns.As a result, this product also has a significantly higher risk.Please make sure to consult the regulations of the product before purchasing investment universal insurance.
Voya Life Insurance
Voya provides Strategic Accumulator Survivorship Universal Life, Or Survivorship Variable Universal LifeTwo products.The main difference of this product is that the other party will be compensated for the death of either party.
This product is mainly used for estate planning, gifting or other types of important property planning.To configure this product, customers need the help of financial consultants, certified public accountants, estate lawyers and other relevant consultants.
InsuGuru©️ Comprehensive Evaluation of Voya Insurance Company
Voya Finance, as a new product name, has a long historical background and a global perspective, as well as strong financial assets.Since personal life insurance is not Voya’s main product, and in 2018,Industry NewsIn China, Voya announced the sale of its personal life insurance business. Therefore, customers still need to think about whether this is the best choice in terms of configuring life insurance products.
2018/10/31 update : Voya Insurance officially announced its withdrawal from the US personal life insurance market.The summary of the report is as follows:
Voya announced that it will be officially before December 2018, 12Stop selling new personal life insurance products.The past insurance policies will continue to be retained to support higher growth, higher returns, and asset-light businesses.After regulatory approval, the business is expected to complete the transaction in September 2020.
>20210207 The latest Voya news update:Voya Insurance News Topics
Official website: voya.com
Voya Financial Group is a company headquartered in New York that carries out financial, retirement, investment and insurance businesses across the United States.
Customer Service Hotline: 1 (855) 663-8692
Stock code: VOYA (New York Stock Exchange)
Headquarters: United States of America
CEO: Rodney O. Martin, Jr.
Subsidiary: ReliaStar Life Insurance Company, MORE
American Life Insurance Guide > Life Insurance Brand > Voya Life Insurance
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