Frequently Asked Questions

Who is Voya?

Voya Financial's mission is to make a secure financial future possible, one person, one family and one institution at a time.

Will I receive account statements?

Yes. You will receive a statement for each month that you have activity in your account other than credited interest. Otherwise, you will receive a quarterly statement if you do not have any other activity in your account.

Can I add money to my Personal Transition Account?

No. Regulatory requirements prevent deposits from any source other than the proceeds of the Voya Financial insurance policy or contract. That is why we encourage you to take into consideration all factors before withdrawing large sums from your account or closing it.

If I close my account, can I re-open it again?

No. Once an account is closed, it cannot be re-opened again.

Is my account FDIC insured?

Funds held in a Personal Transition Account are not FDIC insured, but may be covered by your state's Insurance Guaranty Fund.

How do I name or change a beneficiary(ies) on my account?

To name or change a beneficiary or beneficiaries, complete the following form:

Beneficiary Designation Form (PDF)

Are there any fees?

No fees are charged to keep your account open, write or reorder drafts. See the Program Terms & Conditions for the instances where fees will be charged for special services.

Is there a minimum balance requirement?

Yes. After the account is established and the balance falls below $1,500, the account will be closed. A check for the account balance and accrued interest will be sent to you.