2026 Voya Life Insurance Review: Rates, Pros & Cons

Voya's life insurance offers are limited to term and whole life insurance, but it provides various riders that enhance the policy’s protection. Term life insurance is best for young and healthy people who need coverage for a set period of time. Whole life insurance offers insurance coverage and investment opportunities in one convenient package.

Applicants are required to get policies through their employers, but they can keep their coverage even after they’ve changed their employment. Moreover, they can increase their coverage.

Voya lacks universal life insurance policies that combine permanent coverage with flexible terms. State Farm is the best universal life insurance company.

State Farm is also the best life insurance carrier for seniors.

LIMRA’s 2022 study found that 68% of individuals who have dependents feel financially secure if they have life insurance.

Voya's products are only available as employee benefits.

Voya’s group term life insurance offers coverage for a specific time period. In the event of your passing, the company pays out a death benefit to your beneficiaries.

Term life insurance is an affordable way to get coverage for a set period, making it a strong fit for young, healthy people. It works well for income replacement, paying off debt or covering costs while your kids are young, basically any financial obligation that won't follow you forever.

Voya’s Premier Whole Life Insurance gives employees access to permanent coverage that builds cash value over time. You must purchase it through your employer, but it's a cost-effective way to get covered and grow your money simultaneously.

Whole life insurance makes sense if you want permanent coverage despite higher premiums. The policy builds cash value you can tap for future needs and leaves a death benefit for your loved ones, making it a practical choice for long-term financial planning.

Life insurance riders provide added coverage to basic life insurance policies. They are optional and come with additional costs. Voya lets employees add riders to their base policy for extra coverage at an additional cost. Before any rider takes effect, you'll need to complete an evidence-of-insurability health questionnaire.

Buying life insurance through Voya works differently from purchasing an individual policy. Most products run through your employer. Here's how the process works.

MoneyGeek compiled a list of commonly asked questions regarding Voya’s life insurance products to assist you in determining which policy is best suited to your requirements.