Nationwide Life Insurance Company vs Voya Financial
Comprehensive side-by-side comparison of indexed universal life insurance companies
Nationwide Life Insurance Company
Founded: 1929
Columbus, Ohio
Assets
$140 billion
IUL Experience
15+ years
Products
2
Avg Cap Rate
12%
Key Strengths
Nationwide subsidiary
IUL Accumulator II 2020, IUL Protector II 2020
Cap rates 9.5-25%
Participation rates up to 315%
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
Detailed Feature Comparison
| Feature | Nationwide Life Insurance Company | Voya Financial |
|---|---|---|
| Founded | 1929 | 1991 |
| Headquarters | Columbus, Ohio | New York, NY |
| Assets Under Management | $140 billion | $458 billion+ AUM |
| Years in IUL Business | 15+ years | 5+ years |
| Number of IUL Products | 2 | 5 |
| Typical Cap Rate Range | 9.5% - 25% | 8% - 10% |
| Participation Rates | 200% | 110% |
| Minimum Premium | $5,000 annual | $5,000 annual |
| Issue Ages | 0-85 years | 0-85 years |
| Underwriting Speed | 2-4 weeks | Orange Pass: 5 business days |