We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Voya Financial to Assist Americans Amid Coronavirus Crisis
Read MoreHide Full Article
Voya Financial, Inc. (VOYA - Free Report) has declared certain steps to assist Americans facing financial problems as a result of the novel coronavirus pandemic.
There has been an increase in loans and adversities since early March and the same is expected to continue in the coming months. Some people are utilizing their retirement savings to meet health care costs and other unexpected expenses. Voya is offering its customers withdrawal and loan fee-credits in a bid to overcome financial challenges.
Voya will rebate fees associated with coronavirus-related distributions allowed under the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act, hardship distribution fees and loan initiation fees from Apr 1 through Sep 30 to participants in the defined contribution (DC) plans.
According to the Cares Act, COVID-19 affected people can withdraw up to $100,000 without the usual 10% penalty. It will also allow loans of up to $100,000.
Depending on the use of credits, Voya estimates that the fees it credits back on those transactions to total $10 million to $20 million among its DC plan clients.
Per the announcement, the company will further offer free access to a range of online resources, which include videos addressing relief under the Cares Act and virtual group meetings through Sep 30. This free educational guidance is aimed at assisting individuals in following the CARES Act and the trade-offs involved in choosing among available financial resources.
Shares of this Zacks Rank #3 (Hold) life insurer have lost 27.5% compared with the industry’s decline of 34.4%.
Stocks to Consider
A few better-ranked stocks in the life insurance sector are American Equity Investment Life Holding Company , Primerica, Inc. (PRI - Free Report) and FGL Holdings (FG - Free Report) . While American Equity Investment sports a Zacks Rank #1 (Strong Buy), Primerica and FGL Holdings carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
American Equity Investment and Primerica outpaced estimates in each of the last four quarters, the positive surprise being 53.38% and 3.69% on average, respectively.
FGL Holdings surpassed estimates in three of the last four quarters, the positive surprise being 15.73%, on average.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Voya Financial to Assist Americans Amid Coronavirus Crisis
Voya Financial, Inc. (VOYA - Free Report) has declared certain steps to assist Americans facing financial problems as a result of the novel coronavirus pandemic.
There has been an increase in loans and adversities since early March and the same is expected to continue in the coming months. Some people are utilizing their retirement savings to meet health care costs and other unexpected expenses. Voya is offering its customers withdrawal and loan fee-credits in a bid to overcome financial challenges.
Voya will rebate fees associated with coronavirus-related distributions allowed under the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act, hardship distribution fees and loan initiation fees from Apr 1 through Sep 30 to participants in the defined contribution (DC) plans.
According to the Cares Act, COVID-19 affected people can withdraw up to $100,000 without the usual 10% penalty. It will also allow loans of up to $100,000.
Depending on the use of credits, Voya estimates that the fees it credits back on those transactions to total $10 million to $20 million among its DC plan clients.
Per the announcement, the company will further offer free access to a range of online resources, which include videos addressing relief under the Cares Act and virtual group meetings through Sep 30. This free educational guidance is aimed at assisting individuals in following the CARES Act and the trade-offs involved in choosing among available financial resources.
Shares of this Zacks Rank #3 (Hold) life insurer have lost 27.5% compared with the industry’s decline of 34.4%.
Stocks to Consider
A few better-ranked stocks in the life insurance sector are American Equity Investment Life Holding Company , Primerica, Inc. (PRI - Free Report) and FGL Holdings (FG - Free Report) . While American Equity Investment sports a Zacks Rank #1 (Strong Buy), Primerica and FGL Holdings carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
American Equity Investment and Primerica outpaced estimates in each of the last four quarters, the positive surprise being 53.38% and 3.69% on average, respectively.
FGL Holdings surpassed estimates in three of the last four quarters, the positive surprise being 15.73%, on average.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>