Secure your loved ones' future with a valuable death benefit while potentially building money to use during your life. Possibly even supplement your retirement income.

Key Features

  • Valuable death benefit protection
  • Two indexed strategies: A traditional S&P 500® 1 Year Point to Point and a 2 Year Global Indexed Strategy
  • Guaranteed1 minimum interest rate to minimize market risk
  • 1% policy guarantee1 upon surrender or death
  • Select Loans2 may reduce out of pocket costs
  • Optional Chronic Illness Rider

Issued by ReliaStar Life Insurance of New York

Suitable For

  • People ages 35-55 looking for death benefit protection and potential for cash accumulation.
  • Retirement planning
  • Legacy gifting
  • Executive benefits

Eligibility

Ages

0-90 (varies depending on underwriting)

Minimum Target Death Benefit

$50,000 ($250,000 at issue for issue ages 86-90)

State Availability

Available only in New York

Fees & Charges

Monthly Charges:
  • Policy Charge: $20 per month on a current basis.
  • Guaranteed to not exceed $30 per month
  • Administrative Charge: Varies by issue age, gender, risk class, policy year, and segment.
  • Cost of Insurance (COI): Charge Varies by issue age, gender, risk class, policy year and segment
Premium Expense Charge
  • Current basis: 10% of each premium up to target and 6% of premium in excess of target in the first policy year; 6% of all premium thereafter
  • Guaranteed: 15% in the first year; 11% thereafter
Policy Transaction Fees:
  • Partial Withdrawals: $10 for each partial withdrawal
  • In-force Illustrations
    We reserve the right to charge $25 for each in-force illustration requested after the first in a policy year 
Surrender Charge:
  • There will be a charge if you surrender your policy within the first 9 segment years. 

Rates

Guaranteed Minimum Interest Rates:

  • Fixed Strategy: 2% per year
  • Indexed Strategy: 0% per year
  • Alternate Guaranteed Account Value:  1% policy guarantee upon surrender or death

Additional Details

Two types of policy loans2 are available:

  • Traditional Loans
    Traditional loans are loans with fixed charged and credited rates
  • Select Loans
    Select loan rates will vary based on index credits earned and/or credited interest rates. Therefore the amount credited to the loan can be less than the amount your loan is charged
    Select Loans allow you to borrow money and still continue index crediting potential, which is not possible with Traditional Loans

Riders available (some riders cost extra)

  • Accelerated Benefit Rider – provides a portion of the death benefit while you’re living if you’re diagnosed with a qualifying condition
  • Adjustable Term Insurance Rider – allows you to plan for future growth by scheduling an increase to your coverage by adding term insurance
  • Additional Insured Rider – provides term coverage on the additionally insured spouse or children 
  • Chronic Illness Rider – provides access to your death benefit to help pay expenses if you become chronically ill
  • Overloan Lapse Protection Rider – can help prevent policy lapse as a result of policy loan indebtedness
  • Premium Deposit Fund Rider – provides an interest bearing fund from which amounts are automatically deducted to pay your premium when it’s due
  • Waiver of Cost of Insurance Rider
    can waive monthly cost of insurance and expense charges if diagnosed with a qualified disability
  • Waiver of Specified Premium Rider
    may credit a specified policy premium if diagnosed with a qualified disability

This is a summary only. Please read the contract for complete details.

VOYA INDEXED UNIVERSAL LIFE–GLOBAL CHOICE NY (Voya IUL-Global Choice NY) IS A FLEXIBLE PREMIUM ADJUSTABLE UNIVERSAL LIFE INSURANCE POLICY THAT OFFERS A DEATH BENEFIT TO THE BENEFICIARIES OF THE POLICY AND MAY BE PURCHASED TO MEET YOUR CLIENT’S LIFE INSURANCE NEEDS. WHILE THE POLICY CASH VALUES MAY BE DETERMINED BY REFERENCE TO AN INDEX-LINKED CREDITING STRATEGY, SUCH CASH VALUES SUPPORT THE DEATH BENEFIT OFFERED UNDER THE POLICY. THESE POLICIES ARE NOT VARIABLE CONTRACTS OR INVESTMENT CONTRACTS.

The Voya Life Companies and their agents do not give tax, legal, accounting or lending advice. This information is general in nature and your client should seek advice from their tax and legal advisors regarding their individual situation.

Voya IUL-Global Choice NY, policy form series #3010-04/16 has an equity indexed feature and is issued by ReliaStar Life Insurance Company of New York (Woodbury, NY), a member of the Voya® family of companies. Only available in New York. The Index Cap and Index Participation Rate are subject to change for new Index Blocks. All guarantees are based on the financial strength and claims paying ability of ReliaStar Life Insurance Company of New York who is solely responsible for the obligations under its own policies.

S&P 500® Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Voya Services Company (“Voya”). S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by VOYA. VOYA’s insurance product based on the S&P 500 Index is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Index.

Not FDIC/NCUA Insured | Not A Deposit Of A Bank | Not Bank Guaranteed | May Lose Value | Not Insured By Any Federal Government Agency

1All guarantees are based on the financial strength and claims paying ability of ReliaStar Life Insurance Company of New York who is solely responsible for the obligations under its own policies.

2Policy loans and partial withdrawals may reduce or eliminate index credits, generate an income tax liability, reduce available surrender value and reduce the death benefit, or cause the policy to lapse. Additionally, loans may limit your ability to make elections to the indexed strategy. If a traditional loan results in amounts being deducted from a block prior to its block maturity date, no elections from the fixed strategy to the indexed strategy will be processed in the 12 months following the loan.