ReliaStar Life Insurance Company Review (VOYA)

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Considered a young company by the standards of other life insurance companies across America, and formerly known as ING U.S. Life Companies, VOYA Financial is a part of a much larger entity spanning global proportions in arenas of all financial aspects, not just insurance.

It has now been fully re-branded to Voya Financial, and its life insurance products are underwritten by ReliaStar Life Insurance Company and its other subsidiaries.

NOTE: VOYA has suspended individual life insurance sales, and only offers life insurance through the workplace. We recommend searching our list of the best life insurance companies if you’re searching for a non-work related policy.

Below is our VOYA Life Insurance products review, and we’ll go in depth on the life insurance side of this full-financial company.

As we suggest, make sure you review several carriers before submitting an application for coverage to make sure you’re getting the best value.

Our ReliaStar Life Insurance Company Review

In its infancy in 1990, ING was born of a merger compiled of multiple companies in the Netherlands after significant legislation changed how insurance companies and banks could be operated.

It could be traced back as far as 1743 as a financial group, while the initial insurance companies behind the name were started in 1845.

Yet, it wasn’t until this merger ING has become what it is today.

The company was originally the Internationale Nederlanden Groep, but recognized as ING no earlier than 1991.

Its brand recognition has increased quickly as it’s acquired several different companies, both insurance and non-insurance, all around the world.

Its first initial foothold in America was through Life of Georgia, but it has since been sold as ING made progress in several life insurance markets through brokerages and independent advisors alike.

VOYA’s Financials & Ratings

ING ReliaStar is a well rated company, and one of the few rated by all four of the major, independent rating institutions, A.M. Best, Standard & Poor’s, Moody’s and Fitch.

It’s life insurance company is rated an “A” or better by all, meaning it is currently financially strong, solvent, and looking forward with a positive outlook to the future.

Although it’s life insurance company isn’t the largest, it is a part of the larger entity of ING which his one of the largest, global financial institutions in the world.

48 million people across more than 40 separate countries are customers of ING who is listed on multiple stock exchanges; they are listed as INGA on the Euronext, and ING in the New York Stock Exchange.

Life Products By VOYA

VOYA Financial has four main life insurance types they offer:

  1. Universal Life
  2. Indexed Universal Life
  3. Variable Universal Life
  4. Survivorship Life 

Universal Life

Under the standard universal life product line from VOYA, you have one main option, the VOYA Universal Life CV (or the Universal Life CV NY in New York).

Here are the basics of what the product entails:

  • Eligible applicants age 0 up to 90
  • Minimum face amount of $50,000
  • Minimum guarantee of 3% interest
  • Eight riders for additional benefits

A universal is a permanent life insurance, or, at a minimum, a very long term coverage option.

The cash value within the policy is accessible through loan or surrender, though it can affect the long term performance of the policy.

Indexed Universal Life

The option you have for an indexed product is the Voya Indexed Universal Life Global Choice (or the Indexed Universal Life Global Choice NY in New York).

While the basic policy features are near identical to above, there are some differences from the standard universal.

You’re giving up some percentage of guaranteed minimum interest rate, while getting the opportunity to have a portion of the cash value invested into an index either matching the S&P 500 or other top indices.

Ideally, over a long period of time, an increased amount of risk could yield a higher return.

Variable Universal Life

If you’re looking for potentially even more cash value accumulation, though at a higher level of risk, consider the VOYA Variable Universal Life CV (or the VOYA Variable Universal Life DB in New York).

While it has some similarities to the basic features above, you will need to work with a registered representative for this type of coverage.

A variable policy allows the owner to put the cash value investment into something like mutual funds to aim for even more growth.

Of course, there can be a higher risk in this type of life insurance, as well. Seek assistance if you think this is something you feel would be a good fit.

Survivorship Life

From VOYA, you can utilize the Strategic Accumulator Survivorship Universal Life, or the Survivorship Variable Universal Life.

Of course, the key difference in either of these from the products above is how the death benefit is only paid after two insured’s pass, not just one.

These products are utilized for estate planning, planned giving, or other types of more major financial planning aspects, and should be bought with the assistance of your financial planner, CPA, estate lawyer, or other advisor(s).

Final Thoughts on VOYA Financial

The company, although newer by name, has a historical and global presence worldwide, with a financial arm very few other financial institutions can claim.

With divisions of insurance, banking, investment, retirement and more Voya is prepared to continue its grwoth while adhering to strict ethics to consumers and community.

Choose VOYA if permanence is something you need, and look elsewhere if you need just a basic term policy.

ReliaStar Life Insurance Company Review (VOYA)

(877) 886-5050
230 Park Avenue
New York, NY 10169

Company Name (and subsidiaries)

  • VOYA Services Company
  • VOYA Insurance And Annuity Corporation
  • VOYA Retirement Insurance And Annuity Corporation
  • ING U.S. Life Companies
  • Midwestern United Life Insurance Company
  • ReliaStar Life Insurance Company
  • ReliaStar Life Insurance Company of New York
  • Security Life of Denver Insurance Company


Jason Fisher

Jason Fisher is the founder and CEO of, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.