ReliaStar Life Insurance Company Review: Is it worth in 2026?

When you protect your family, finding the best life insurance is not just a financial decision, but a commitment. A commitment that no matter what the future has in store, your family will be taken care of. With so many insurance companies available, finding one that you feel confident in, has comprehensive coverage plans, and that has financial strength can be overwhelming. That’s why we wrote this article about ReliaStar Life Insurance.

ReliaStar Life Insurance was founded more than a century ago, providing life insurance to thousands of Americans, mainly through employer-sponsored group plans. It is now part of a larger insurance group, Voya Financial. Throughout this detailed review of ReliaStar Life Insurance for 2025, we will educate on their background, coverage options, financial strength, consumer reviews, prices, claims process, and the differences from other companies. By the time you finish this review, you will feel confident deciding if ReliaStar Life Insurance is a good fit for you and your family.

Overview: Brief History and Evolution

Rating: A (AM Best) , A+ (Standard & Poor), A2 (Moody’s), A+ (Fitch Rating)

Customer service: 877-886-5050

Claims: 888-238-4840

ReliaStar Life Insurance Company can trace its roots to 1885, when it began operations as the Northwestern National Life Insurance Company in Minneapolis, Minnesota. Since then, ReliaStar has grown through several acquisitions, including North Atlantic Life Insurance Company in 1967 and Northern Life Insurance Company in 1977. In 1995, the companies came together under the ReliaStar name as a unified way to serve its policyholders. ReliaStar continued to grow, acquiring Equitable Life Insurance Company of Iowa in 1997.

In 2000, ReliaStar became part of Voya Financial, a financial services company. This process enabled ReliaStar to use the capabilities of Voya Financial to serve its customers with several products in the life insurance business.

Parent Company: Voya Financial

Voya Financial, Inc. is a leading financial services company based in the U.S. It offers many retirement, investment, and insurance solutions. The company was formed in 1991 under the name “ING U.S.” and rebranded to “Voya Financial” in 2014 to emphasize its focus on helping individuals and institutions achieve financial well-being. Voya offers retirement plans, investment management, and insurance products and serves millions of customers throughout the U.S.

ReliaStar Life Insurance Company, a subsidiary of Voya Financial, shares in the financial strength and stability of its parent company. Voya’s focus on innovation and commitment to customer service mirror ReliaStar’s mission of providing trustworthy and affordable life insurance coverage to its policyholders.

Insurance Products Offered

ReliaStar Life Insurance Company offers a wide range of group insurance options that are primarily sold through an employer. These programs are primarily designed to help ensure financial protection for employees and their families regarding life and health matters.

Group Life Insurance Policies

ReliaStar provides two main types of group life insurance policies:

• Term Life Insurance: This type of insurance covers you for a specified period (generally 10, 20, or 30 years). Term life insurance is simple and typically more affordable, making it a good option for employees who want temporary coverage.
• Whole Life Insurance: This type of insurance covers you for your entire life, while also allowing the cash value of the policy to increase. Whole life insurance premiums are higher, but it allows for long term financial planning, too.

Both policies are typically offered as part of an employee benefits package and are paid through payroll deductions.

Additional Insurance Products

In addition to life insurance, ReliaStar offers several other group insurance products:

• Accidental Death & Dismemberment (AD&D) Insurance: Provides benefits in the event of death or serious injury resulting from an accident.
• Critical Illness Insurance: Offers a lump-sum payment upon diagnosis of a covered critical illness, such as cancer or a heart attack, to help cover out-of-pocket expenses.
• Disability Income Insurance: Replaces a portion of income if an employee becomes unable to work due to illness or injury.

These products are designed to complement traditional health insurance by covering gaps and providing additional financial security.

Policy Availability

The insurance products offered by ReliaStar are primarily available to members through their employer:

• Employer Benefits Packages: Most insurance plans are sold on a group basis as part of an employer’s benefits package, with premiums deducted directly from employees’ paychecks.
• Limited Individual Availability: While most of our focus is on our group policies, certain limited individuals may be able to convert their group policy to an individual policy, such as in the event of retirement or a job change, but only on a limited basis, as permitted, and individuals were previously covered by that group policy.

In conclusion, ReliaStar Life Insurance Company services a variety of group insurance products intended to offer financial protection for you and your family members. These products are mainly available through the employer. Individual insurance policies are limited, but the group insurance products available provide a valuable option for coverage, if offered mid-policy period.

Pros And Cons

ReliaStar Life Insurance Company offers a range of group insurance products, backed by over a century of experience. However, potential policyholders should be aware of certain limitations and customer feedback.

Pricing and Affordability

ReliaStar Life Insurance Company offers competitively priced group life insurance products, primarily available through employer-sponsored plans. These offerings are designed to provide financial protection for employees and their families, with premiums influenced by various factors.

Cost Factors

The cost of ReliaStar’s life insurance premiums is determined by several key factors:

• Age: Younger individuals typically pay lower premiums due to longer life expectancies.
• Health: Individuals in better health may qualify for lower rates.
• Coverage Amount: Higher coverage amounts generally result in higher premiums.
• Policy Type: Whole life insurance policies, which build cash value, tend to have higher premiums compared to term life policies.

For example, ReliaStar’s group term life insurance rates are structured per $1,000 of coverage, with rates varying by age. As of the latest available data, monthly rates per $1,000 of coverage are as follows:

• Under 25: $0.05
• 25–29: $0.06
• 30–34: $0.09
• 35–39: $0.10
• 40–44: $0.13
• 45–49: $0.19
• 50–54: $0.33
• 55–59: $0.56
• 60–64: $0.85
• 65–69: $1.64
• 70+: $2.66

These rates are per individual and are subject to change based on the policy’s terms and conditions.

Group vs. Individual Policies: 

• Group policies through employers are generally more affordable and convenient due to payroll deductions. 
• Individual policies may be available only as a conversion of group coverage, subject to underwriting. 

Claim Process and Customer Service

Steps to File a Claim:

• Notify the Company: Contact ReliaStar Life Insurance or its authorized administrator within 30 days of the loss.
• Complete the Claim Form: ReliaStar will send claim forms within 15 days after receiving notice. If not received, submit written proof of loss within 90 days.
• Submit Required Documentation: Provide necessary documents, such as a certified death certificate and any other requested information.

Required Documentation:

• Certified Death Certificate: Required for all claims at ReliaStar’s discretion, and 100% of the time if the death benefit exceeds $500,000.
• Proof of Loss: Written proof detailing how the loss occurred.

How ReliaStar Stacks Up: Compare Coverage, Strength, and Service Against Top Life Insurance Competitors

Customer Reviews & Reddit Insights

Customer experiences with ReliaStar Life Insurance Company are mixed, with some policyholders reporting challenges in claim processing and customer service. While some individuals have had satisfactory interactions, others have faced delays and difficulties in communication.

Reddit Insights

• Policy Transfers and Account Access Issues: A Reddit user shared their experience of purchasing a 30-year term life insurance policy through Voya Financial, which was later transferred to ReliaStar Life Insurance and subsequently to Resolution Life. They mentioned difficulties in accessing their account and contacting customer service, highlighting potential issues in account management and support

BBB Customer Reviews

Service Delays and Unresponsiveness: A long-time client expressed extreme disappointment with ReliaStar’s lack of integrity, citing that their life insurance had been suspended due to a lack of response. This reflects potential issues in customer service and communication.

Delayed Claims Processing: A user reported a six-month wait to collect on a death claim, despite providing all necessary documentation. This delay underscores concerns about the efficiency of the claims process.

In summary, while ReliaStar Life Insurance Company offers a range of insurance products, customer feedback suggests that potential policyholders should be aware of possible challenges in claims processing and customer service. It’s advisable to thoroughly review all available options and consider these factors when choosing an insurance provider.

Who Should Consider ReliaStar Life Insurance?

• Employees seeking employer-sponsored coverage
• Employers looking for comprehensive group benefits
• Individuals are comfortable with limited direct policy options
• Individuals seeking fully personalized plans may need to explore competitors for options beyond employer-sponsored coverage.

Final Thoughts: ReliaStar Life Insurance Review

ReliaStar Life Insurance is notable for its strong financial ratings, signaling stability and reliability, a key consideration for any life insurance provider. The company offers a full range of group insurance products, such as term life, whole life, AD&D, critical illness, and disability income coverage, making it a great option for employers looking for a low-cost employee benefit.

While a lot of policyholders report a positive experience, it is important to keep in mind that other customers have experienced delays and communication issues through the claims process. All things considered, ReliaStar is great for employees and employers seeking reasonable group life insurance; however, individuals wanting a more customizable or flexible policy might want to explore others more suited to meeting their individual needs.