Beneficiaries of life insurance proceeds face a unique set of financial, legal, and emotional issues. Voya™ Employee Benefits strives to go beyond the traditional role of financial services companies by offering a comprehensive package of beneficiary support services.
Once a life insurance claim has been initiated, we offer the following services, at no cost to beneficiaries, to make this difficult time a little easier:
- Easy access to life insurance proceeds: When proceeds are paid, beneficiaries have full access to their money through a special Voya Personal Transition Account.1 The draw account earns a competitive interest rate from the date of deposit and is guaranteed by the insurance company that issued the policy.
- Toll-free phone support: Our experienced customer service team is available to answer beneficiaries' questions and concerns. In addition, beneficiaries have access to an automated 24-hour phone system and will receive periodic account statements.
- Practical, easy-to-understand materials: When the claim is processed, beneficiaries receive a Beneficiary Kit, which includes a complimentary Bereavement Guide along with an explanation of benefits confirming payment of proceeds.
The Bereavement Guide provides information on decision-making as well as contact information for various resources and programs that can give beneficiaries the assistance they need. As beneficiaries start rebuilding their lives, they will be reminded that we care about their financial and emotional well-being in a complimentary newsletter.
Published with beneficiaries specifically in mind, each issue provides unbiased, practical information, which will help beneficiaries make informed life decisions on an ongoing basis.
- Financial Guidance: When beneficiaries are ready to think about their long-term financial strategies, they can contact us for access to financial professionals and diverse financial products.2
1Proceeds of $5,000 or more are generally paid into a Voya Personal Transition Account. Voya Personal Transition Accounts are not available in all states.
2Securities offered through various broker-dealers including Voya Financial Partners, LLC (member SIPC). Life Insurance is provided by ReliaStar Life Insurance Company, Minneapolis, MN and ReliaStar Life Insurance Company of New York, Woodbury, NY. Only ReliaStar Life Insurance Company of New York is admitted, and its products issued within the State of New York. All are members of the Voya™ family of companies.