Voya Financial vs National Life Group
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
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
Detailed Feature Comparison
| Feature | Voya Financial | National Life Group |
|---|---|---|
| Founded | 1991 | 1848 |
| Headquarters | New York, NY | Montpelier, Vermont |
| Assets Under Management | $458 billion+ AUM | $45 billion |
| Years in IUL Business | 5+ years | 20+ years |
| Number of IUL Products | 5 | 3 |
| Typical Cap Rate Range | 8% - 10% | Not publicly disclosed - Not publicly disclosed |
| Participation Rates | 110% | Competitive market rates |
| Minimum Premium | $5,000 annual | $50,000 (FlexLife) |
| Issue Ages | 0-85 years | 0-85 years |
| Underwriting Speed | Orange Pass: 5 business days | 2-4 weeks standard |