Voya Financial's TermSmart Term Life Insurance Series
Pivot.com has partnered with a number of life insurance carriers to help meet your needs. Voya Financial, formerly known as ING, is one of those companies. The ING name was recently changed after nearly 40 years in the financial industry. The name Voya represents “your voyage or journey to and through retirement”. The Voya Financial Life Insurance Companies trace their roots back to 1885, giving them a very long history of competitive products.
Their current financial rating is A Excellent through A.M. Best. These ratings apply to the financial strength and claims paying ability of the company and are subject to change.
Voya Financial offers term life insurance products with term periods of 10, 15 & 20 years through their TermSmart series. What this means for you is that the premium rate you are approved for will be locked in for that number of years.
Voya also offers riders that can be added to your policy, they are:
- Accelerated Benefit Rider – Allows prepayment of a portion of the eligible death benefit if the insured is terminally ill with a life expectancy of 12 months or less.
- Accidental Death Benefit Rider – Provides accidental death protection up to the face amount, to a maximum of $300,000 on any one life. This rider automatically expires on the policy anniversary nearest the insured’s 70th birthday.
- Disability Waiver of Premium Rider - where premiums are paid by the insurance company when the insured becomes disabled
- Children’s Term Rider – where you are able to add coverage for a child, 15 days to 18 years old for a maximum amount of coverage of $10,000 per child.
Voya also offers a term conversion option which allows you to exchange your term life insurance policy for a cash value policy without evidence of insurability. This must be done before the end of the level term period or before age 70, whichever occurs first. The new policy would be based on your age at the time of the term conversion.
As you can see there are many options available with the Voya Financial TermSmart term life insurance products. There’s no better time to get started than today!
About the author: Pam Fortier has been in the life insurance business for over 30 years. She also holds both a LUTCF designation and a CISR designation. Pam is adept at helping clients select the coverage they want at the price they can afford. You can contact Pam at 1-800-651-1953 or PFortier@Pivot.com.