Finder may earn compensation from partners, but editorial opinions are our own. Advertiser Disclosure

Voya Financial life insurance review 2021

Keep you and your family covered through your employer, including optional accelerated benefits.'s rating: 4 / 5


  • Get a quote if… Your employer offers life insurance through Voya.
  • Choose a different provider if… You prefer the highest customer ratings.

18 to 65

Issue Age

Not listed to Not listed


Not required for term life

Medical Exam Required


Policies Term, whole, accident, critical illness, disability income, hospital confinement indemnity insurance
Coverage maximum Not listed
Term lengths Not listed
Medical exam required Not required for term life
Available states Not listed
Issue age Not listed


  • Policy can follow you if you leave your employer
  • No medical exams for term life
  • Payments deducted from your paycheck
  • Premium waiver for disability
  • Lightning-fast claims


  • Policies available through work
  • No online quotes
  • Few specific details online
Riders No info available

Review by

Sarah George is an insurance writer at Finder who’s penned over 400 articles, unraveling complicated topics about car, home and life insurance. Her insurance know-how has been featured in online publications, including Breeze, CBS, CNET and, as well as Finder’s YouTube channel. Sarah is working to become a Certified Educator in Personal Finance (CEPF).

Expert review

Voya Financial offers several options for life insurance, whether you’re looking for a minimal policy to cover certain financial responsibilities or full-blown insurance with accelerated death benefits. Because Voya’s policies work through your employer, you get your payments deducted automatically from your paycheck, which can be a huge convenience. And it has the unusual benefit of letting you leave your job with your policy in force if you’d like.

On the other hand, Voya doesn’t have as much transparency with rates and coverage amounts as we’d like. To get that information, you can expect to spend some time on the phone waiting for customer service. You may be able to get details from your employer, but it can put a damper on coverage for those who’d rather find quick answers online.

Should you seek a policy through Voya? That choice comes down to preference since the company has a long history of success — and very few complaints to boot. Weigh this insurer’s coverage and benefits against other life insurance companies to make the best decision for you.

What affects my rate with Voya Financial

Your exact rates will increase or decrease based on a number of factors like:

  • Age and weight
  • Health history
  • Occupation and hobbies
  • Types of insurance offered by your employer
  • Time period insured

How to get a quote from Voya Financial life insurance

Because Voya offers employer-sponsored insurance, you’ll likely sign up through your employer during the open enrollment. If you have questions about the policy, you can call customer service at 855-663-8692 on weekdays from 9 a.m. to 6:30 p.m. ET.

Filling out your enrollment application may involve:

  1. Fill in personal information, such as your name, Social Security number, address and details about your dependents.
  2. Select which type of insurance and riders you need.
  3. Review paperwork and fill in additional details missing.
  4. Sign the contract when prompted and turn in your application as your employer instructs.

What types of life insurance coverage does Voya Financial offer?

Voya guards you and your loved ones’ lives with several options available through employer benefits.

  • Term life. A policy that protects you during a set time period that generally lasts from 10 to 30 years. It pays a fixed amount if you die during the term. Coverage amounts vary based on your employer’s plan, but can range from enough to cover funeral expenses to ensuring your mortgage is paid.
  • Whole life. A policy meant to protect you through your lifetime while growing tax-deferred interest on its cash value. After contributing a set amount, you can borrow against the cash value to meet unexpected expenses.

What riders can I add to my policy?

Additional coverage is available, including free support for parents with a child with special needs. The riders available vary based on your state and the life insurance plan your employer chooses.

  • Accelerated death benefit rider. A rider to pay medical bills and other expenses if someone on the policy suffers from a terminal illness.
  • Accidental death benefit rider. Pays out an additional benefit if you die in an accident, such as a car accident.
  • Child rider and spouse rider. An option to add life insurance coverage for a spouse, live-in partner or dependents.
  • Disability income benefit rider. Pays out a monthly benefit if you suffer a disability and can’t work.
  • Portability rider. A rider to keep your policy active if you’re on an employer-approved leave of absence or become completely disabled.
  • Term insurance rider. Allows you to add additional life insurance to your permanent policy for a specified amount of time.
  • Waiver-of-premium rider. Continue coverage without paying a premium if you become completely disabled.

Voya Financial life insurance reviews and complaints

Voya boasts an A- rating from the Better Business Bureau despite not responding to one complaint filed against the company, as of October 2020. The company sees a handful of customer complaints and negative reviews on the site, even though it’s offered services for over 45 years.

Most complaints are resolved in a timely manner. Of the nine reviews listed, customers complain about payment issues like delayed payment, not receiving their check or representatives not responding to requests.

The company ranks below average in the 2020 J.D. Power Life Insurance Study.

AM Best financial rating A+
BBB accredited No
BBB rating A-
1/5 out of 9 customer reviews
Trustpilot score 2.9/5 out of 2 customer reviews
JD Power score 725
Customer reviews verified as of 26 October 2021

Compare life insurance companies like Voya Financial

If you’re looking for more options to compare, take a look at these other providers.

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
18 - 60 years old
5, 10, 15, 20, 25 and 30 years
Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
Policygenius - Life Insurance
18 - 85 years old
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
18 - 60 years old
10, 15, 20, 25, 30 years
Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
Everyday Life
20 - 75 years old
10, 15, 20, 25, 30, 35 and 40 years.
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
20 - 60 years old
10, 15, 20, 25 or 30 years
No, for coverage up to $3M
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
JRC Life Insurance
18 - 85 years old
10, 15, 20, 25, 30, 35, 40 years to lifetime/age 121
May be required
Compare policies up to $10 million from 45+ top insurance companies with the click of a button.

Compare up to 4 providers

Is ReliaStar Life Insurance the same as Voya Financial?

ReliaStar, formerly part of Northwestern National Life Insurance Company (NWNL), was a subsidiary of Voya Financial but has since rebranded to the Voya name. ING purchased ReliaStar in 2000 and rebranded to Voya Financial in 2014.

More about Voya Financial

Voya Financial started as a US branch of a large Dutch financial services company called ING Group. ING US acquired a variety of American insurance and finance businesses over the years, including the Security Life of Denver Insurance Company, which began in 1928. The company was sold to Reinsurance Group of America in 2010 and rebranded as Voya as of 2014.

The company receives high praise through several different awards. In 2019, Ethisphere Institute dubbed it one of the World’s Most Ethical Companies among other awards for the company’s equality and employer practices, according to Voya’s website. It also boasts that its employee benefits cover over 6 million employees.

What other products does Voya offer?

Besides life insurance through employers, Voya offers:

  • Health savings and spending accounts
  • Employer-sponsored retirement plans
  • IRAs
  • College savings plans
  • Mutual funds
  • Traditional brokerage investments

Frequently asked questions about Voya Financial life insurance

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

Learn more about our methodology.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site