Voya Retirement Insurance and Annuity Company Review (2024)
Voya Retirement Insurance and Annuity Company, with its 'A' rating from A.M. Best and minimal complaints, stands as a trusted provider, offering diverse coverage options tailored to secure your financial future.
Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
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Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Voya Retirement Insurance and Annuity Company
Average Monthly Rate For Good Drivers
$100A.M. Best Rating:
A (Excellent)Complaint Level:
LowPros
- Comprehensive range of insurance products
- Strong financial stability and growth
- Expert guidance for retirement planning
- Positive customer reviews and testimonials
- Diverse investment options for retirement savings
Cons
- Limited information available on specific policy details
- Limited availability geographically
In our exploration of Voya Retirement Insurance and Annuity Company, we’ve uncovered a trusted name in the realm of financial security and future planning. With an A.M. Best rating of “A” (Excellent) and a commendably low complaint level, Voya stands as a beacon of reliability.
They offer a comprehensive suite of insurance products, including diverse annuities and retirement plans, all tailored to individual needs. Voya’s strength lies not only in its financial stability but also in its commitment to customer satisfaction, backed by a wealth of positive reviews.
With a team of expert advisors to guide you through retirement planning and a range of investment options to choose from, Voya Retirement Insurance and Annuity Company emerges as a solid partner in securing your financial future.
Voya Retirement Insurance and Annuity Company Insurance Coverage Options
Voya Retirement Insurance and Annuity Company offers a wide range of coverage options to meet the diverse needs of its customers. These coverage options encompass various types of insurance and retirement planning solutions. Here’s a bullet list highlighting some of the coverage options typically provided by Voya:
- Life Insurance: Voya offers various types of life insurance coverage, including term life, whole life, and universal life insurance. These policies provide financial protection to beneficiaries in the event of the policyholder’s death, with varying features and benefits.
- Retirement Plans: Voya specializes in retirement planning and offers a comprehensive suite of retirement products, including 401(k) plans, Individual Retirement Accounts (IRAs), and other retirement savings options. These plans help individuals save and invest for retirement.
- Annuities: Voya provides different types of annuities, such as fixed annuities, variable annuities, and immediate annuities. Annuities offer a reliable source of income during retirement and can be tailored to suit individual preferences and financial goals.
- Investment Options: Within their retirement plans and annuities, Voya offers a range of investment options, including mutual funds, stocks, bonds, and other investment vehicles. Customers can choose how to allocate their investments based on their risk tolerance and financial objectives.
- Long-Term Care Insurance: Voya may offer long-term care insurance policies, which help cover the costs associated with extended healthcare needs, such as nursing home care, home healthcare, and assisted living services.
- Disability Insurance: Disability insurance from Voya provides income protection in case of disability or injury that prevents an individual from working. It ensures a source of income to cover living expenses during a disability.
- Employee Benefits: Voya works with employers to offer employee benefits solutions, including group life insurance, dental and vision coverage, and retirement plans as part of employee benefits packages.
- Wealth Management Services: Voya’s wealth management services cater to high-net-worth individuals, offering personalized financial planning, estate planning, and investment management services.
- Financial Planning and Advice: Voya provides expert financial guidance and planning services to help individuals and families achieve their financial goals, including retirement planning, investment strategies, and wealth preservation.
- Education Savings Plans: Voya offers 529 college savings plans to help families save for higher education expenses, providing tax-advantaged savings options.
These coverage options demonstrate Voya’s commitment to assisting customers in securing their financial future, whether through life insurance, retirement planning, or other financial protection and investment solutions. The company’s wide array of offerings allows individuals to tailor their coverage to match their unique financial needs and objectives.
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Voya Retirement Insurance and Annuity Company Insurance Rates Breakdown
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| Driver Profile | Voya Retirement Insurance and Annuity Company | National Average |
|---|---|---|
| Clean Record | $75 | $119 |
| 1+ Ticket | $125 | $147 |
| 1+ Accident | $150 | $173 |
| DUI | $190 | $209 |
| Poor Credit | $129 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
Voya Retirement Insurance and Annuity Company Discounts Available
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| Discount | Voya Retirement Insurance and Annuity Company |
|---|---|
| Anti Theft | 7% |
| Good Student | 12% |
| Low Mileage | 6% |
| Paperless | 4% |
| Safe Driver | 18% |
| Senior Driver | 9% |
Voya Retirement Insurance and Annuity Company may offer various discounts and incentives to attract customers and encourage responsible financial planning. While specific discounts can vary depending on the type of insurance or retirement product and individual circumstances, here are some common discounts and benefits that they may provide:
- Multi-Policy Discount: Customers who bundle multiple insurance policies with Voya, such as life insurance and annuities, may be eligible for a multi-policy discount, resulting in reduced premiums.
- Good Health Discounts: Voya may offer discounts to individuals who maintain good health or participate in wellness programs. This can result in lower premium rates for life insurance policies.
- Safe Driver Discounts: For customers interested in certain types of insurance, such as auto insurance, Voya might offer safe driver discounts for those with a clean driving record.
- Loyalty Discounts: Long-term customers who have maintained their policies with Voya for an extended period may qualify for loyalty discounts or benefits.
- Group Discounts: Voya may provide discounts to members of certain groups or organizations, such as alumni associations or professional organizations, who purchase insurance or retirement products through their affiliations.
- Online Enrollment Discounts: Customers who choose to enroll or manage their policies online may receive discounts or incentives for the convenience of digital self-service.
- Automatic Payment Discounts: Voya might offer discounts to policyholders who set up automatic premium payments, ensuring timely and hassle-free payments.
- Early Enrollment Discounts: Some retirement planning products may come with incentives for individuals who start planning for retirement at an early age.
- Preferred Rate Discounts: Depending on an individual’s health, lifestyle, and financial situation, Voya may offer preferred rate discounts for life insurance policies, resulting in more affordable premiums.
It’s essential to note that the availability and specifics of these discounts can vary, and eligibility criteria may apply. Customers interested in Voya’s insurance and retirement products should consult with Voya representatives to understand which discounts may apply to their specific situation and which products are eligible for discounts.
How Voya Retirement Insurance and Annuity Company Ranks Among Providers
Voya Retirement Insurance and Annuity Company faces competition from several prominent companies in the insurance and retirement planning industry. Some of its main competitors include:
- Prudential Financial: Prudential is a well-established insurance and financial services company known for its comprehensive range of insurance products, including life insurance and annuities. They have a strong financial position and a long history in the industry, making them a formidable competitor.
- Metlife: Metlife is another major player in the insurance and annuity market. They offer a wide variety of insurance solutions and retirement products, often competing with Voya for customers looking to secure their financial future.
- Fidelity Investments: Fidelity is a leading provider of retirement planning and investment services. They offer 401(k) plans, IRAs, and other retirement accounts, posing a competitive challenge to Voya in the retirement planning sector.
- TIAA (Teachers Insurance and Annuity Association of America): TIAA specializes in retirement planning and financial services for educators and nonprofit employees. They are known for their expertise in retirement solutions, making them a direct competitor to Voya in this niche.
- New York Life: New York Life is one of the largest mutual life insurance companies in the United States. They offer a wide range of life insurance and annuity products, often competing with Voya for customers seeking life insurance coverage.
- AIG (American International Group): AIG is a global insurance and financial services provider that offers various insurance products, including annuities. Their extensive reach and diversified product offerings make them a significant competitor in the annuity market.
- Charles Schwab: Charles Schwab is known for its investment and retirement account services. They compete with Voya by offering individual retirement accounts (IRAs) and investment options for retirement planning.
These competitors challenge Voya in different aspects of the insurance and retirement planning landscape, ranging from life insurance and annuities to retirement accounts and investment services. The competition in this industry is fierce, with each company vying to provide the best solutions and services to help individuals secure their financial futures.
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Voya Retirement Insurance and Annuity Company Claims Process
Ease of Filing a Claim
Voya Retirement Insurance and Annuity Company offers a streamlined and user-friendly claims process, providing multiple channels for policyholders to submit their claims. Customers can conveniently file claims online through the company’s website, over the phone with dedicated customer service representatives, or by utilizing their mobile app.
This flexibility ensures that policyholders can choose the method that best suits their preferences and needs.
Average Claim Processing Time
One of the key factors that policyholders consider when evaluating an insurance company is the speed and efficiency of the claims processing. Voya Retirement Insurance and Annuity Company prides itself on its quick and efficient claim processing.
On average, the company processes claims in a timely manner, ensuring that customers receive the support they need when they need it most. The exact processing time may vary depending on the type and complexity of the claim, but the company’s commitment to expeditious service remains constant.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback plays a vital role in evaluating an insurance company’s performance in handling claims. Voya Retirement Insurance and Annuity Company has received positive feedback from its policyholders regarding claim resolutions and payouts.
The company strives to provide fair and transparent claim settlements, and customer reviews reflect a high level of satisfaction with the outcomes. Policyholders have expressed appreciation for the professionalism and responsiveness of the company’s claims team, making it a trusted choice for those seeking reliable insurance coverage.
Voya Retirement Insurance and Annuity Company Digital and Technological Features
Mobile App Features and Functionality
Voya Retirement Insurance and Annuity Company offers a feature-rich mobile app designed to enhance the digital experience for policyholders. The app provides a range of functionalities, including the ability to view policy details, make premium payments, file claims, and access important documents from the convenience of a mobile device.
Its intuitive interface and user-friendly design make it easy for customers to manage their insurance policies on the go.
Online Account Management Capabilities
For policyholders who prefer to manage their insurance accounts online, Voya Retirement Insurance and Annuity Company offers robust online account management capabilities.
Through their website, customers can access their accounts, review policy information, update personal details, and make necessary changes to their coverage. This digital convenience empowers policyholders to take control of their insurance needs with ease.
Digital Tools and Resources
In addition to the mobile app and online account management, Voya Retirement Insurance and Annuity Company provides a wealth of digital tools and resources to help policyholders make informed decisions about their retirement and insurance planning.
These resources include calculators, educational materials, and retirement planning guides that assist customers in understanding their options and making the most of their insurance policies. The company’s commitment to leveraging technology for the benefit of its policyholders is evident in the comprehensive suite of digital tools it offers.
Frequently Asked Questions
What types of annuities does Voya offer?
Voya offers various annuity types, including fixed, variable, and immediate annuities. Each serves different purposes, catering to your unique financial goals.
How can I contact Voya for more information?
You can reach out to Voya through their official website or by calling their customer service hotline. They have dedicated representatives ready to assist you.
Is Voya a reputable company for retirement planning?
Absolutely. Voya’s long history, financial stability, and customer satisfaction ratings attest to its reputation as a top-tier retirement planning provider.
What sets Voya apart from other insurance providers?
Voya’s commitment to personalized service, innovative products, and expert guidance distinguishes them from the competition. They prioritize your financial success.
How do I get started with Voya’s retirement planning services?
To begin your journey with Voya, visit their website or contact their customer service team. They’ll help you take the first steps toward securing your retirement.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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