Voya Financial vs F&G (Fidelity & Guaranty Life)
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
F&G (Fidelity & Guaranty Life)
Founded: 1959
Des Moines, Iowa
Assets
$40 billion
IUL Experience
10+ years
Products
2
Avg Cap Rate
9.5%
Key Strengths
LIMRA Q2 2024: Top IUL provider ranking
Competitive historical performance
Quick policy delivery
Juvenile IUL specialty (15 days to 17 years)
Living benefits: accelerated death benefits
Detailed Feature Comparison
| Feature | Voya Financial | F&G (Fidelity & Guaranty Life) |
|---|---|---|
| Founded | 1991 | 1959 |
| Headquarters | New York, NY | Des Moines, Iowa |
| Assets Under Management | $458 billion+ AUM | $40 billion |
| Years in IUL Business | 5+ years | 10+ years |
| Number of IUL Products | 5 | 2 |
| Typical Cap Rate Range | 8% - 10% | 8% - 11% |
| Participation Rates | 110% | 115% |
| Minimum Premium | $5,000 annual | $3,600 annual |
| Issue Ages | 0-85 years | 15 days to 85 years |
| Underwriting Speed | Orange Pass: 5 business days | Some immediate delivery or within 24 hours |