Voya Financial vs Symetra Life Insurance Company
Comprehensive side-by-side comparison of indexed universal life insurance companies
Voya Financial
Founded: 1991
New York, NY
Assets
$458 billion+ AUM
IUL Experience
5+ years
Products
5
Avg Cap Rate
9%
Key Strengths
Offers 5 IUL products
NOTE: Individual sales discontinued 2019-2020; primarily group/workplace only
Orange Pass accelerated underwriting
Symetra Life Insurance Company
Founded: 1957
Bellevue, Washington
Assets
$58+ billion
IUL Experience
10+ years
Products
3
Avg Cap Rate
9.5%
Key Strengths
May 2023: higher caps, participation rates, bonuses; lower premiums
Fastest approvals: 18-25 minutes
Cancer Care Compass Rider (multi-cancer detection)
2% lookback guarantee (Accumulator)
GoodLife rewards for healthy lifestyle
Detailed Feature Comparison
| Feature | Voya Financial | Symetra Life Insurance Company |
|---|---|---|
| Founded | 1991 | 1957 |
| Headquarters | New York, NY | Bellevue, Washington |
| Assets Under Management | $458 billion+ AUM | $58+ billion |
| Years in IUL Business | 5+ years | 10+ years |
| Number of IUL Products | 5 | 3 |
| Typical Cap Rate Range | 8% - 10% | 8% - 11% |
| Participation Rates | 110% | 140% |
| Minimum Premium | $5,000 annual | $3,600 annual |
| Issue Ages | 0-85 years | 20-85 (Accumulator/Protector); 20-60 (SwiftProtector) |
| Underwriting Speed | Orange Pass: 5 business days | SwiftProtector 18-25 minutes; SwiftTerm 18 minutes |