Group Term Life Insurance and Whole Life Insurance
With our Group Term Life Insurance and Premier Whole Life Insurance, employers can create a comprehensive benefits package. Plans are simple and flexible — and coverage doesn’t need to end when employment does.
Both Group Term Life Insurance and Whole Life Insurance offer employees the ability to continue coverage after separating from their employer and pay premiums directly to the insurance company. Dedicated sales and service professionals assist employers with implementation and provide marketing materials to help grow enrollment.
Group Term Life Insurance
Group Term Life Insurance provides a benefit payment to the beneficiaries of a policyholder who passes away during a specific period of time or term. The benefit can be used for funeral expenses, co-signed loan debt, future education — even day-to-day expenses.
It also includes features that fit organizations, including basic life insurance, supplemental life insurance, accidental death & dismemberment (AD&D) insurance, and spouse and children life insurance.
- Add value to benefits packages: Employers can easily add on services to support employees, such as an Employee Assistance Program (EAP), funeral planning, will prep, concierge services and Voya Travel Services. Availability may vary by state.
- Services that save time: We can manage the Evidence of Insurability (EOI) process, making it easier for employers. And employees benefit from online or paper-based systems — whatever works best for them.
- Additional options available: Employers can also choose to offer continuation, portability and conversion features to best meet their employee population’s needs.
- Coverage isn’t tied to employment: If employees leave their employer or retire, they can take the policy with them and choose one of a number of convenient payment plans.
- Premiums don’t fluctuate: The purchased insurance coverage and payment amounts are guaranteed to be fixed for the life of the policy, as long as the required premium payments are met.
- Policy has cash value: Whole life insurance builds guaranteed cash values as long as payments continue to be made. Once cash value accumulates, the policy owner can borrow against that value at the rate shown in the policy. The death benefit will be reduced by the amount of any outstanding loan and unpaid accrued interest.
- Payroll deduction: Premiums are paid through convenient employee payroll deductions.
Availability and provisions may vary by state and some require one-on-one enrollment with a licensed insurance producer.
Ready to learn more?
Contact your broker or Voya Health Solutions sales representative today.
This is a summary of benefits only and not a contract. Read your policy and riders carefully for exact terms and conditions. This policy has exclusions and terms under which the policy may be continued in force or discontinued. Whole Life Insurance is issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Policy Form #RL-WL2-POL-07; Policy Form #RNY-WL2-POL-07. Form numbers, product availability and specific provisions may vary by state and employer’s plan.
Products and services may not be available in all states.
Voya Travel Assistance services are provided by International Medical Group, Inc., Indianapolis, IN.
ReliaStar Life Insurance Company (Minneapolis, MN), a member of the Voya® family of companies.