The company offers fixed, indexed and variable universal life insurance products targeted to more affluent markets, and low-cost term life insurance designed to serve the middle market. Products and Services Individual Life offers products that include UL, indexed universal life (IUL), variable UL and term life, insurance. These offerings are designed to address customer needs for death benefit protection, tax-advantaged wealth transfer and accumulation, premium financing, business planning, executive benefits and supplemental retirement income. UL: Accumulation-focused UL products feature the opportunity to build tax-deferred cash value that can be accessed by consumers via loans and withdrawals for future needs. This money grows income tax-deferred, meaning no federal or state income taxes apply while it accumulates. IUL: For customers looking for an opportunity for a higher return in a low rate environment, the company offers IUL products. Variable Universal Life: The company offers an individual variable UL insurance product designed to provide long-term cash accumulation potential with the ability to add optional riders that provide guarantees and more flexibility. It offers customers the ability to choose from individual variable investment options, which range from conservative to aggressive stock and bond investments managed by respected investment management firms in the industry or from diverse asset allocation solutions designed to match a customer’s risk tolerance. Term Life: The company’s term products, basic life and return-of-premium, offer flexible coverage for periods spanning 10 to 30 years. Markets and Distribution The company’s Individual Life segment distributes its product offerings primarily through a network of Aligned Distributors who are committed to promoting Voya products to independent agents and advisors. Through this channel, the company partners with approximately 100 Aligned Distributors with access to approximately 55,000 producers as of December 31, 2015. It also supports other independent general agents and marketing organizations who sell a portfolio of products. The company offers service solutions to meet the diverse and changing requirements of its customers and distribution partners. Competition Primary competitors include Lincoln, MetLife, Prudential, American General, Principal Financial Group, John Hancock, Transamerica, and Pacific Life. Employee Benefits Employee Benefits provides group insurance products to mid-size and large corporate employers and professional associations. In addition, the company serves the voluntary worksite market by providing individual and payroll-deduction products to employees of the company’s clients. Products and Services Employee Benefits offers stop loss insurance, group life, voluntary benefits (VB), and group disability products. These offerings are designed to meet the financial needs of both employers and employees by helping employers attract and retain employees, and control costs, as well as provide ease of administration and valuable protection for employees. Stop Loss: The company’s stop loss insurance provides coverage for mid-sized to large employers that self-insure their medical claims. These employers provide a health plan to their employees and generally pay all plan-related claims and administrative expenses. Its stop loss product helps these employers contain their health expenses by reimbursing specified claim amounts above certain deductibles and by reimbursing claims that exceed a specified limit. The company offers this product via two types of protection—individual stop loss insurance and aggregate stop loss insurance. Group Life: Group life products span basic and supplemental term life insurance, as well as accidental death and dismemberment for mid-sized to large employers and affinity groups. These products offer employees guaranteed issue coverage, convenient payroll deduction, affordable rates and conversion options. VB: The company’s VB business involves the sale of UL insurance, whole life insurance, critical illness, accident insurance and short-term disability inc
voya financial inc (VOYA:New York)
230 Park Avenue
New York, NY 10169
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