Voya – Annuity Rates and Life News

Voya has issued the following bulletins:

Rate Lock Period is Currently 30 days
CWA’s:
Cash With Applications received on or before Friday, January 15, 2016will receive the rate that was effective the date the application was received. Cash With Applications received on or after Monday, January 18, 2016,will receive the rates effective that day.

Transfer Adds / Issues:

To receive the current/higher rates, applications must be SIGNED on or before Friday, January 15 and RECEIVED at VOYA by close of business on Friday, January 22, 2016.

* The rate lock/funding period, which provides clients the prior rate when a decrease in rates is declared, is 30days for all fixed/index annuities (SPIA rate lock is 14 days). The rate lock process applies to all new issues of currently marketed annuity products.

*If the application is received on or before Friday, January 15the rate lock period begins on the application received date. If the application is received between Monday, January 18and close of business Friday, January 22 the rate lock period begins on Monday, January 18(the new rate effective date), not the date the application was received.

*If the contract is not fully funded prior to the 30 day rate hold, the current new money rates will be applied.

Posted in Bulletins, Newsletter, Rate Change.