ReliaStar Life Insurance Company is a Minneapolis-based insurance subsidiary of Voya Financial, one of America’s largest retirement and investment services companies. While the Voya brand is front-and-center in workplace retirement plans, variable annuities, and 403(b) programs serving millions of teachers and non-profit employees, ReliaStar is the legal entity through which many of those contracts were originally issued. If you have an annuity issued by ReliaStar, you are a Voya customer.
This review explains the relationship between ReliaStar and Voya, covers financial strength ratings, and helps existing policyholders and researchers understand what this carrier means for their situation.
ReliaStar Life (Voya Financial) at a Glance
| Detail | Information |
|---|---|
| Full Legal Name | ReliaStar Life Insurance Company |
| Parent Company | Voya Financial, Inc. (NYSE: VOYA) |
| Headquarters | Minneapolis, Minnesota (ReliaStar); New York, NY (Voya Financial) |
| Founded | 1885 (Northwestern National Life, predecessor); Voya rebranded from ING U.S. in 2013 |
| AM Best Rating | A (Excellent), Voya Financial group |
| Total Assets (Voya) | $300+ billion in assets under management and administration |
| Primary Business | Workplace retirement plans, variable annuities, 403(b), 457 plans |
| Products Still Actively Sold | Limited individual annuity distribution; primarily retirement plan market |
| States Available | All 50 states (in-force block) |
Understanding the ReliaStar–Voya–ING Connection
The history here matters for policyholders trying to identify their carrier. ReliaStar Life Insurance Company was acquired by ING Group in the early 2000s as part of ING’s U.S. expansion. When ING divested its U.S. insurance operations following the 2008 financial crisis, those businesses became ING U.S., which rebranded as Voya Financial in 2013.
So if your annuity contract reads “ReliaStar Life Insurance Company”, you are with Voya. If it reads “ING Life Insurance and Annuity Company” (ILIAC) or “Security-Connecticut Life Insurance Company”, also Voya subsidiaries. All are managed under the Voya Financial umbrella.
Voya Financial (NYSE: VOYA) is a publicly traded company with approximately $300+ billion in assets under management and administration. It is primarily a retirement plan recordkeeper and asset manager rather than a traditional annuity carrier competing in the MYGA marketplace. This is a key distinction for buyers evaluating new annuity purchases.
ReliaStar’s Financial Strength Ratings
The Voya Financial insurance subsidiaries, including ReliaStar, carry an A (Excellent) rating from AM Best. This places ReliaStar/Voya within the top rating tier that most advisors consider appropriate for conservative annuity buyers.
Voya’s financial strength is derived primarily from its fee-based retirement plan and investment management businesses, which generate stable, recurring revenue that is less sensitive to interest rate swings than a traditional annuity writer’s balance sheet. This business model means Voya is not aggressively competing on MYGA rates in the independent agent market, but existing policyholders benefit from institutional stability.
What Types of Annuities Does ReliaStar / Voya Offer?
ReliaStar and Voya’s annuity presence is primarily in the institutional and workplace channel, not the consumer MYGA marketplace:
- Variable Annuities, Voya’s variable annuity block includes products with living benefits (GMWBs, GMIBs) sold through financial advisors and broker-dealers. Many were issued by ReliaStar or ILIAC.
- 403(b) and 457 Plan Annuities, Voya is one of the largest providers of annuity products within employer-sponsored 403(b) plans for teachers, nurses, and government employees. These are group-issued contracts, not individual retail annuities.
- Structured Settlement Annuities, ReliaStar has historically been active in structured settlement annuities for legal settlement funding.
Voya does not actively compete in the retail MYGA marketplace where carriers like Athene, Oceanview, and MassMutual dominate. If you are looking for a new fixed annuity with a guaranteed rate, compare the current field of MYGA carriers rather than seeking a ReliaStar/Voya product specifically.
What Should Existing ReliaStar / Voya Annuity Holders Know?
If you own a variable or fixed annuity issued by ReliaStar Life Insurance Company or a related Voya entity, here are the key points:
- Your contract is held by Voya. Customer service, policy statements, and online account access are through Voya Financial’s policyholder portal.
- Review your living benefits. Many ReliaStar variable annuities issued in the 2000s–2010s include guaranteed minimum withdrawal benefits (GMWBs) or guaranteed minimum income benefits (GMIBs). These riders can be extremely valuable and should not be surrendered without careful analysis of what you would be giving up.
- Surrender charges may apply. If your contract is still within its surrender charge period, early surrender will incur penalties. Review your contract’s surrender schedule before making any moves.
- Consider a 1035 exchange if appropriate. If you are past your surrender period and your contract’s guaranteed benefits are no longer compelling, a 1035 exchange to a current A-rated MYGA may provide better risk-adjusted returns. My Annuity Store can compare your current situation against today’s market.
Who Is ReliaStar / Voya Best For?
- Existing policyholders seeking information about their ReliaStar-issued contract and its current status under Voya Financial.
- 403(b) plan participants whose employer retirement plan includes Voya as a provider, Voya is an excellent platform for workplace retirement savings and annuity-within-plan options.
ReliaStar / Voya is not the right choice for new buyers seeking a competitive retail MYGA rate. Use our live rate comparison to see current offerings from 20+ active carriers.
Contact ReliaStar Life / Voya Financial
| Contact Method | Details |
|---|---|
| Website | www.voya.com |
| Annuity Customer Service | 1-800-366-9387 |
| Mailing Address | Voya Financial / ReliaStar Life Insurance Company P.O. Box 10004 Des Moines, IA 50306 |
| Hours | Monday–Friday, 8 a.m.–6 p.m. ET |
Working with My Annuity Store: We’re independent and not affiliated with Voya or ReliaStar. If your Voya annuity is coming out of surrender or you’re evaluating your options, we can compare current MYGA rates from 20+ top annuity companies. Request a free comparison or call 855-583-1104.
Frequently Asked Questions About ReliaStar Life Insurance
Is ReliaStar Life Insurance still in business?
Yes. ReliaStar Life Insurance Company remains an active legal entity under Voya Financial. While the ReliaStar brand is no longer used for new sales, all existing ReliaStar-issued annuity contracts are honored and serviced by Voya.
What is the AM Best rating for ReliaStar / Voya?
ReliaStar and the Voya Financial insurance subsidiaries carry an A (Excellent) rating from AM Best. Voya manages over $300 billion in assets under management and administration.
Should I 1035 exchange my ReliaStar annuity?
It depends on your contract. ReliaStar variable annuities issued in the 2000s and 2010s often include valuable guaranteed minimum withdrawal benefits (GMWBs) that should not be surrendered without analysis. If your surrender period has ended and your guaranteed benefits no longer justify the contract fees, a 1035 exchange to a current A-rated MYGA may improve your risk-adjusted returns.
How do I contact Voya for my ReliaStar annuity?
Call Voya annuity customer service at 1-800-366-9387, Monday through Friday from 8 a.m. to 6 p.m. Eastern Time. Online access at www.voya.com.
Other Annuity Companies to Consider
Comparing carriers is an important part of finding the right annuity. Each company offers different rate guarantees, financial strength ratings, and product features. Here are a few other carriers worth reviewing:
- F&G Annuities & Life Review
- Sentinel Security Life Insurance Company Review
- United of Omaha Life Insurance Company Annuity Review
- Delaware Life Insurance Company Annuity Review
- Browse All Annuity Insurance Companies
Want help choosing? Use our live rate comparison tool to see which carriers offer the best rates today, or request a personalized quote.
