Having life insurance protects you and your family from sudden losses resulting in financial issues. Your family will be left with a lot of debts to pay, and your children might even suffer the consequences of your untimely death for a very long time.
This is why life insurance is always necessary for building a family.Life insurance is not only about having the financial capabilities to deal with your loss. Voya life insurance offers more than financial aid when you leave your family.
There is still more to Voya’s life insurance policy that delivers all of your and your family’s needs.Learn more about Voya Life Insurance, their type of life insurance, the cost, qualifications, and how to apply with the article below.
Shopping for Voya Life Insurance
If you’re interested in getting Voya life insurance, you might want to research first what Voya life insurance has to offer.
You also need to consider a lot of things when you’re shopping for Voya life insurance.
Here are some of the things that you need to think about if you want to apply for Voya life insurance.
Choose the Type of Voya Life Insurance That You Need
Two types of Voya life insurance are currently being offered. These are the term life insurance and the whole life policy. Term life insurance covers for a fixed period which is usually around 10 to 30 years.
If the policyholder passes away within the time frame, the beneficiaries will have the benefits. For a whole life policy, you are covered for the entirety of your life up until your demise.
Companies often give whole-life policies as part of their employee benefits package. There is also group term life insurance that is very customizable for the policyholder.
Think About Riders
Riders are add-ons that you can incorporate into your chosen life insurance policy to personalize them.
Every person has their own specific needs and with these add-ons, you can add them to your policy for an additional payment on top of your regular policy.
These are optional and should be discussed with the representative during your visit. You should also know how much coverage you need before you discuss it with the representative so that they can give you a rough estimate of what your premiums will be.
Getting Multiple Quotes for Comparison
Since you’re still shopping for a life insurance policy, it is always best that you get multiple quotes from different life insurance companies.
This will help you determine which one is the best and how Voya Life Insurance is very different from other life insurance providers.
Research each company and take the time to review the company’s financial health and stability before you apply.
What are the Costs of Voya Life Insurance
Life insurance policies have vastly different rates as several factors often dictate them.
The premium that you pay for your chosen life insurance policy is often determined by your age, overall health, medical history, gender, lifestyle, coverage amount or budget, type of policy, and many others.
Some providers often ask for your credit score just to ensure that you’re able to pay for your premium during the entire duration of your policy. Take note that these are factors that will also determine your policy so be sure to be at your top shape before you apply so you’ll get the best rate.
This is also the reason why young people are always encouraged to get insurance as early as possible.
Pros and Cons of Voya Life Insurance
Voya life insurance offers a lot of advantages especially if you are a business owner or you have a large company with hundreds of employees. Your employees can make payments through payroll deductions which makes it easier for them to process and get the life insurance that they need.
Voya offers policies in all 50 states in the US, which makes it one of the most accessible life insurance providers in the country. Many educational materials are available online for you to learn more about Voya life insurance.
The downside with Voya life insurance is that they are only offered through employers and are mostly targeted towards mid to large-sized companies.
How to Apply for Voya Life Insurance
Since Voya focuses more on providing employers with life insurance for their employees, applicants will need to work on applying online to make the process a lot easier.
Applying for Voya life insurance is simple and can be done within the hour if you know how to apply online. First, you need to gather the requirements based on the type of life insurance policy that you’re going to get.
Once you have it all prepared, head over to the official website and choose the type of policy that you want to get. Fill out the necessary information on the online application form and provide all the necessary documents that they require.
Review everything before you submit and you should hear back from them in the next few days up to a week.
Alternative Methods to Applying for Voya Life Insurance
Speaking directly to an insurance broker or a representative from Voya Life Insurance is a great way for you to apply. They are highly knowledgeable about the insurance products they are selling so your questions will be immediately entertained.
They can even make recommendations that will suit your needs. Hand over the requirements and fill out the application form with your details. Double-check the information before you give the application form back to the representative.
Make sure that your documents are also complete so that you won’t delay the entire application process. After submitting your application, they’ll review everything and will give you a call once the review is done.
Conclusion
Voya life insurance can give you lasting peace of mind for you and your family. The right coverage and the right life insurance policy are key to guaranteeing your family’s future is free from any financial woes.
This is why Voya life insurance is often recommended to employers so they can provide such financial security to their employees.
