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VOYA Life Insurance Ratings

Customer Satisfaction Ratings (based on 102 survey results)
Customer ServiceValue for PriceWebsite and Apps% Who Would Recommend to a FriendA.M. Best
Effective as of:

A.M. Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.

A.M. Best's rating is NOT used to calculate the overall score but it is important information to consider when choosing an insurance company.

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Reasons for Buying from VOYA

Customers of VOYA originally decided to purchase from the company for these reasons:
Financial Strength rating24%
Recommended by friend or family member19%
Offered best price16%
Saw online ad13%
Saw TV commercial10%
Was the company my parents had4%
I had other insurance with this company1%
The company website and mobile apps are easy to use and helpful0%

How likely are you to recommend this company to a friend, coworker or family member?

I would definitely recommend this company. 45%
I probably would recommend this company. 34%
Neutral 19%
I probably would not recommend this company. 1%
I would not recommend this company. 1%

What kind of insurance do you have?

Whole 45%
Term 36%
Both 19%
Other - fill in 0%

How much do you pay annually for your life insurance policy

$251 - $500 26%
$751-$1,000 24%
$501-$750 22%
$1,001-$1,500 19%
$1,501-$2,000 6%
less than $250 3%
$2,001-$2,500 1%
More than $2,501 0%

Website and Apps

How easy to use and how helpful they are
47%Good - Fulfills my needs
37%Excellent - Gives me what I need and more
14%Just okay - Fulfills some but not all of my needs
2%Never visited/used website or mobile app
0%Unsatisfactory - Doesn?t fulfill my needs, website/app is severely lacking

How You Prefer to Deal with Insurers

25%In person
24%Interactive website
10%Smartphone app
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About Voya

Life insurance policies offered

  • Term life
  • Universal life
  • Indexed Universal life
  • Variable universal life
  • Survivorship life

Best Life Insurance companies: How Voya Stacks Up

Voya showed solid ratings scoring an overall score of 84.72 in the 2018 Best Life Insurance Companies survey. Voya’s best showing was  under the important value for price rating factor, capturing 11th place.

Gauging an insurance company

Before buying with a company it is wise to check on a company's financial strength and complaint record. The A.M. Best rating listed above gives you an idea of Allstate's financial strength to pay claims. A complaint ratio can be found on the National Association of Insurance Commissioners (NAIC) site. The median complaint ratio from the NAIC is always 1.00. This means half of the insurers have a complaint ratio of under 1.00 and half have a ratio above. Basically, numbers lower than 1.00 are better with fewer complaints than the median and a number higher than 1.00 has more complaints than the median. For life insurance, Voya (NAIC# 86509) had a complaint ratio of 0.68 for individual life insurance and 6.59 for group life insurance for 2018. 2019 complaint numbers will be available in 2020.

Company Background

'America’s Retirement Company'

ING rebranded in 2013 to become Voya, with an aim to be the go-to company for retirement planning for Americans. The name change was inspired by the word “voyage,” seeking to inspire the understanding that a secure financial future is about more than the destination. While retirement planning accounts for 40 percent of the business, the company’s financial products and life insurance also help to support that goal. Voya is considered a top-tier provider of life insurance by LIMRA and was named on Ethisphere Institute’s 2016 list of “World’s Most Ethical Companies” for the third year in a row.

Insurance products are issued by ReliaStar Life Insurance company, ReliaStar Life Insurance Company of New York and Security Life of Denver Insurance Company.

Contact information

Corporate headquarters

Voya Financial Company
20 Washington Avenue South
Minneapolis, MN 55401
Life insurance customer service: 1-877-886-5050

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