Voya Financial Reviews 185

Impossible to work with. My mom died and it's been an utter nightmare trying to get them to talk to us. I have power of attorney and my dad is completely deaf. I sent them the POA once; they "claimed" they never got it even though I emailed and faxed it. I sent it to them a second time. They got it this time and authorized my dead mom to speak on my dad's behalf! Even though I was clearly on it. I called again and they claimed they never did this and also never got the POA from me...even though I have a dated letter that says otherwise. Still waiting for them to pay out the policy. It was supposed to help with the funeral, but I've now had to take out a personal loan because of their incompetence. You can tell how much the company cares when they don't even bother apologizing for your lost and try to be a little empathetic. It's a stressful time and Voya has found a way to make it worse.

If you file a claim of any type no matter how large or small be prepared to seek legal representation if you want to get it.

If I could give Voya zero stars I would. I have been trying to get my money out of there for probably six weeks now and they refused to give it to me.They keep telling me that they haven’t received any information from me, but information was sent to them for me, and one other person on the exact same day in the exact same way, and he already has his money and they claim they don’t even have my paperwork. And they just keep claiming ignorance about everything. They cannot help you. Customer service there is lousy! Every time you call Voya, it says that you can hold after your call and give a customer service review, but the last two times I’ve called, they have disconnected me before I could do so.

Typical Insurance Co. When you have a claim they find away to weasel out of paying!.. Will be cancelling them this November during open enrollement!!

We purchased life insurance 30 years ago.Have never missed a premium. Received notice in June that VOYA RAISED OUR PREMIUMS 300%. We are in our 70’s. My husband is a disabled veteran. We were planning on this money for when one of us passes away. We cannot afford a 300% increase. So now we have nothing. They want us and others like us who may be nearing an age where they will have to pay out. Terrible company. Now we have nothing left. Should be illegal to do this to the elderly just because they get old. If I could rate this company lower than 1 star believe me I would. BUYER BEWARE! VOYA IS A TERRIBLE COMPANY!

Worst financial company ever. They have customer representatives in the Philippines and these people are untrained, do not understand USA laws and give you very bad information which causes you to lose money and waste time. This company should be embarrassed of their handling of retirement funds. The FTC really needs to look into this company and audit their recorded lines. Just horrible... Seriously!!

I'm surprised that VOYA has nothing but 1-2 star ratings. I get people will have issues with them, it's virtually impossible to please everyone in this day and age. But not a single 3+ star rating?

Here's my experience, which has been reasonably good so it's quite that 1) the fact I was brought up with common sense helps me to understand just what's needed from VOYA, 2) I make the decisions related to what's being done in my account, they don't manage anything, and 3) I pay attention to what's going on in this big mess of a world, both financially & socially!

* I choose where my money is invested; if making a change by 4:00pm it's in the selected fund the next business day.

* VOYA hasn't lost me any money, the investments that were made lost me money due to the volatility of the stock market and world in general! Those throwing out names of other companies here may be trying to draw new clients for their own financial gain.

* I've applied for, and received, within about 1 week, two (2) loans against my 401k. The interest rates were 8.5% and 9.5%, which is paid back into MY account, so borrowing against myself is a guarantee of a return in very uncertain times where we've see the stock market almost crash and continue on a roller coaster like ride since Covid.

* Customer Service may not be the greatest, but it's good and much better than the worst I've experienced from dozens of companies in various industries. More times than not they've provided accurate information and have been helpful. I prefer email communication, but when I've need to talk to someone I've gotten through.

* Are there features and options they could have that would make it easier to stay on top of my retirement account. ABSOLUTELY! I've mentioned this to C/S, and it'll likely never change but it is what it is. This account costs me nothing as my employer pays for the service, and my retirement income has grown steadily the last 5-6 years in spite of Covid and the loans I've taken out.

* Lastly, if we don't educate ourselves then we're always going to be vulnerable to those who look to take advantage of us. Education is POWER, real power, and I've seen nothing to indicate VOYA is taking advantage of anyone, so the problem might be within.

Just sayin'...

These scam artists expect me to increase my monthly amount 3 x what I've been paying for years. Meanwhile the payout amount will not change. They claim the cost of insurance went up. so now I'm forced to cancel the policy after being a member since 1987. I don't know if we reliastar would have done this but Voya is absolute trash. If you care about yourself your time and your money don't ever sign up with Voya insurance. It is literally a bad deal and ultimately not worth it.

I'd give them 0 stars if I could. I've never worked with such a huge company that has absolutely no customer service whatsoever. I am the company administrator for our 401(k) which we moved to Voya - huge mistake! They don't answer the phone, they respond only by email and that usually takes at least two days. Their training doesn't cover any of the issues I've had since we went live - and yet they act like I should know all of this stuff. I could go on forever with negatives about this company but please, if you like your employees, don't move your 401(k) to this company.

Terrible. Customer service is useless. Very frustrating and difficult to understand the person on the phone. Also when you try to get into your account the system is down.

Absolutely insanity. I've been trying to get hardship withdrawal since 6/11 and sent in all documents multiple times. I've spoken to at least 15 people and gotten different responses. Ready for the insanity part? I finally got an email July 1 stating documents received and being reviewed and we will contact you if we need anything else. Not a word since so followed up to be told that the documents weren't legible. I asked why I hadn't heard anything and he said they mailed it out July 1. So the exact same day that I was told it was reviewed a letter was mailed to say it's not legible. It gets better, I speak with another person who then says they haven't received the documentation at all but then says it wasn't legible! How is it not legible if you didn't receive it?!?!? Or if it is truly isn't legible then you did in fact receive it. 7/3 and still nothing accomplished. I worked with Fidelity for decades and never had any issues. Voya is a garbage company plain and simple.

Yo, listen up! These folks ain't nothing but a hot mess. I dumped $30k into the so-called opportunities they brought thinking I'd be swimming in money. Fast forward a few months, and I'm down $15k! Every time I hit them up for answers, it's like trying to squeeze water from a rock - all I get is dodgy excuses and lame responses.

Their support? Pfft, don't even get me started. It's like talking to a brick wall. They keep saying they'll respond back, but guess what? Crickets. Total radio silence. It's like they're just out here playing us all for fools.

Thank goodness I found echelonis elitus. These guys are the real MVPs, making it rain with seven-figure paydays and keeping it 100. I'm stacking paper now, thanks to their killer strategies and no-nonsense approach. If you want to avoid getting burned, steer clear of Voya and hit up the tested an true instead. they're the only ones who got your back, no cap!

I requested a rollover from my previous employer's 401K plan that they manage. I discussed at a length with their phone advisor my specific request to perform in-kind rollover into my brokerage IRA account. She explained their detailed procedure including how they'd transfer through Computershare into my brokerage account whole numbers of shares and send me proceeds for just the fractional share quantity. What I received instead was cash distribution for the entire holding minus federal tax withholding!!!! Someone is not doing their job of this so-called fiduciary institution....

Do not use them!!!!! They will not let you move your money once they have it. My account is loosing hundreds of $$s a month. While they are also collecting their fees. Enroll in Swans IRA instead

This is the worst company a business should offer to their employees. They do everything possible to avoid releasing requested 401k. They provide the amount you are able to withdraw just to provide notification of only being approved for the exact amount you an receive, you have to make sure the amount add up to the exact amount being requested. Any business that offer Voya to their employees should be ashamed.

Worst company in the WORLD---just scammers, try closing the account and you will see how they try and throw all kind of ridiculous fees at you. I will never do business with this scammer again. The low ratings are there for a reason. They tried charging me a $175.00 transaction fee for CLOSING THE ACCOUNT, when I left the EMPLOYER. It's beyond the worst of the worst

Garbage ass company

I just took out a loan from 401K but voya didn't confirm if i received the cheque. I called on 5th business day to tell them that the chequeu is not received and they asked me to hold for another week before they can re-issue a cheque.

This is pathetic service since I have no received it until today even though online it says that it was processed on May 17. But the installment was withdrawn from my salary without even actual loan disbursed to me.

I am really not happy with the overall process that has been followed by Voya. They sent a chequeu via USPS which I am confident that its misplaced. For such critical financial cheques, Voya should use UPS or FEDEX which has tracking numbers and are delivered at door step with proper verification but Voya choose to send via USPS.

The reason for loan was some personal emergency but now I have to go through a process of requesting for another cheque which I am pretty confident that it will take more than 7 days to disburse. Not a efficient way at all.

Hope senior management takes a serious note about this feedback and take appropriate action to disburse the loan to my bank account directly rather than this cheque business.

Voya sent my retirement rollover checks to the wrong PO Box and they were cashed by the wrong company. Then Voya claimed I'd given them the wrong address--I had not. Then their response to this issue was to give me the phone number of the company that cashed my checks and tell me to call them. Just completely unacceptable.

Horrible experience. Very difficult process for your own money to be manager . I am out … never again and I will not recommend it to anybody.