Voya Financial Launches New Retirement Income Solution with Voya Wealth Builder Plus Annuity
WINDSOR, Conn., April 2, 2015 /PRNewswire/ -- Voya Financial, Inc. (NYSE: VOYA), announced that it has expanded its fixed index annuity offerings with a new option for investors seeking to grow and protect their wealth, while generating retirement income that lasts a lifetime. The new Voya Wealth Builder Plus Annuity is designed to deliver features that are most important to retirees - growth, protection and guaranteed income. The product is issued by Voya Insurance and Annuity Company, a member of the Voya Financial family of companies.
"Many Americans are approaching retirement without a sound strategy for their income needs," said Carolyn Johnson, president of Annuities and Tax-Exempt Markets for Retirement Solutions at Voya Financial. "Voya Wealth Builder Plus can give individuals the confidence that their retirement savings will keep growing and be there when they need it most, especially as they cope with living longer and managing their health care expenses."
The Voya Wealth Builder Plus annuity allows investors to grow assets linked to the performance of certain indexes, specifically the S&P 500® Index. Gains are locked in annually through four index annuity interest crediting strategies to help individuals diversify and maximize tax-deferred accumulation. In particular, a point-to-point index strategy bases interest credit upon the percentage change in the S&P 500 Index, up to a cap. These crediting strategies provide the flexibility for investors to select a combination that best matches their specific situations and needs.
A floor offers protection against negative index performance, ensuring that the original investment value or the annual gains will never be lost. If the index goes down, the contract does not lose value due to the decline. If the selected index goes up, an investor's contract value increases, up to a stated cap.
Another key feature of the product is a Minimum Guaranteed Withdrawal Benefit (MGWB), which helps individuals generate a guaranteed stream of lifetime income in retirement. The MGWB benefit base accumulates by two percent plus the positive performance of the index, for up to ten years. In addition, the income stream can be turned on or off as needed. Investors can also make a withdrawal without activating the benefit. This enables the benefit to continue growing while providing the flexibility to access funds.
The Voya Wealth Builder Plus annuity compliments Voya's wide array of fixed annuity solutions. As an industry leader and advocate for greater retirement readiness, Voya Financial's vision is to be recognized as America's Retirement CompanyTM and its mission to make a secure financial future possible — one person, one family, one institution at a time.
Media Contact:
Joe Loparco
Voya Financial
Office: 860.580.2677
Cell: 860.462.6525
[email protected]
About Voya Financial
Voya Financial, Inc. (NYSE: VOYA), is composed of premier retirement, investment and insurance companies serving the financial needs of approximately 13 million individual and institutional customers in the United States. The company's vision is to be America's Retirement CompanyTM and its guiding principle is centered on solving the most daunting financial challenge facing Americans today - retirement readiness. Working directly with clients and through a broad group of financial intermediaries, independent producers, affiliated advisors and dedicated sales specialists, Voya provides a comprehensive portfolio of asset accumulation, asset protection and asset distribution products and services. With a dedicated workforce of approximately 6,500 employees, Voya is grounded in a clear mission to make a secure financial future possible - one person, one family, one institution at a time. For more information, visit voya.com or view our Voya Financial Interactive Company Profile. Follow Voya Financial on Facebook and Twitter @Voya.
Voya Wealth Builder Plus annuity contract Form Series IU-IA-3128 with contract schedule IU-IA-3128(8SC)-A is issued by Voya Insurance and Annuity Company, (Des Moines, IA). May vary by state and may not be available in all states.
All guarantees are based upon the financial strength and claims-paying ability of the issuing company, which is solely responsible for all obligations under its contracts.
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SOURCE Voya Financial, Inc.