With the Voya Preferred Advantage Variable Annuity, you can select from over 75 funds that are managed by some of the best fund managers in the industry to create a customized retirement solution while you defer taxes.

Key Features

  • Over 75 fund options to choose from
  • Ability to invest in as many of these funds and/or fund families
  • Access to leading fund managers in the industry
  • A diversified mix of management styles
  • Flexibility to change your investment options as often as you’d like
  • Access to your money, if needed
  • Low minimum to purchase an annuity

With minimal fees:

  • No surrender charges
  • No front-end loads, such as sales charges
  • No transaction charges
  • No additional costs for dollar cost averaging or auto rebalancing
  • No maintenance fee for annuity contract values at $15,000 or higher

Suitable For

  • You want the freedom to choose your investment options
  • You want a diversified investment
  • You want access to some of the best money managers in the industry
  • You want to defer taxes
  • You want minimal fees


Issue Ages


  • Minimum initial = $5,000 (IRA1) / $5,000 (non-qualified)
  • Minimum additional premium = $1,000 (IRA) / $500 (non-qualified)

Fees & Charges

Surrender Charge


Asset-based Administration Fee

Equals a percentage of the contract’s Accumulation Value deducted daily as part of the calculation of the subaccount unit values. The Asset-based Administration Fee is locked in at issue and will not change.

Annual Asset-based Administration Fee

1.15% daily

Maintenance Fee

$50.00 will be deducted each anniversary or on the date of surrender.  The fee is not charged if the Accumulation Value is greater than or equal to $15,000.


100% full liquidity. Withdrawals made prior to age 59½ may have a 10% tax penalty.

Deferred Sales Charge


Transaction Fee

None, even for transfers between different fund families. Transfers are subject to Voya’s frequent trading policy.

Additional Details


You should consider the investment objectives, risks and charges, and expenses of the variable annuity and its underlying investment options carefully before investing. The prospectuses for the variable annuity and underlying investment options contain this and other information. You may obtain free prospectuses by calling your financial professional or 800-369-5303. Please read the prospectuses carefully before investing.

Voya Preferred Advantage Variable Annuity is issued by Voya Insurance and Annuity Company (Des Moines, IA) and distributed by Directed Services LLC. Both are members of the Voya® family of companies. Contract form  number ICC15 VI-IA-4046 and Contract Series VI-IA-4046 which varies by state, and may not be available in all states. All guarantees are based upon the financial strength and claims paying ability of Voya Insurance and Annuity Company, which is solely responsible for all obligations under its contracts.

Additional Resources

A variable annuity is a long-term investment designed for retirement planning. It is a contract between you and an insurance company that offers the opportunity to allocate premiums among variable investment options — also referred to as subaccounts or funds — that have the potential to grow tax deferred.

Withdrawals may be subject to Federal/State income tax and, if taken prior to age 59½, an additional 10% Federal penalty tax.

Variable annuities are subject to investment risk, are not guaranteed and will fluctuate in value. In addition, there is no guarantee that any variable investment option will meet its stated objective.

IRAs and other qualified plans already provide tax deferral like that provided by an annuity. Additional features and benefits such as contract guarantees, death benefits and the ability to receive a lifetime income are contained within the annuity for a cost. Please be sure the features and costs of the annuity are right for you when considering the purchase of the annuity. Neither the company nor its agents or representatives can provide tax, legal or accounting advice. Please consult your attorney or tax advisor about your specific circumstances. The contract does not directly participate in any stock or equity products.