National Life Group vs Voya Financial
Comprehensive side-by-side comparison of indexed universal life insurance companies
National Life Group
Founded: 1848
Montpelier, Vermont
Assets
$45 billion
IUL Experience
20+ years
Products
3
Avg Cap Rate
Competitive market rates
Key Strengths
Market leader with 17.4% market share
Lifetime Income Benefit Rider with 10-year waiting period
Industry-leading chronic illness rider
175+ years operating history
Mutual structure aligns with policyholder interests
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
Detailed Feature Comparison
| Feature | National Life Group | Voya Financial |
|---|---|---|
| Founded | 1848 | 1991 |
| Headquarters | Montpelier, Vermont | New York, NY |
| Assets Under Management | $45 billion | $458 billion+ AUM |
| Years in IUL Business | 20+ years | 5+ years |
| Number of IUL Products | 3 | 5 |
| Typical Cap Rate Range | Not publicly disclosed - Not publicly disclosed | 8% - 10% |
| Participation Rates | Competitive market rates | 110% |
| Minimum Premium | $50,000 (FlexLife) | $5,000 annual |
| Issue Ages | 0-85 years | 0-85 years |
| Underwriting Speed | 2-4 weeks standard | Orange Pass: 5 business days |