Allianz Life Reviews

Good luck getting your money from these folks. They are terrible to deal with.

This is not a negative review about Allianz's customer service, which has generally been responsive and polite. This is a negative review about their lack of transparency surrounding their fixed annuity product. I have reviewed my annual fixed annuity statements carefully and have had several conversations with their customer service agents leading up to the 10-year anniversary of several of my fixed annuity contracts earlier this year (April). I confirmed several times that I would be eligible to get 5.5% of the value of my funds as "protected income value" once I reached age 70. So I waited several months beyond the 10-year anniversary in April to request the withdrawal of the protected income value when I turned 70 in July. But I was told I could NOT withdraw the protected income value because I had not requested the funds in April.

Allianz uses an archaic process by "snail" mailing claim form packets, therefore, delaying money owed. They do not vett beneficiaries over the phone in order to send an email link then allow the beneficiary to show/prove they are who they say they are. It's been ten business days since I reported the death of my mom. Still have not received the papers in the mail. When I emailed Exec VPs in the company and threatened to file a complaint with the Minnesota Attorney General, I received a call and an email with a link to do the form online. Now 6 days after submitting the online form with the appropriate documentation, I had not received an email confirming receipt. I emailed the employee in the complaint department who then apologized and confirmed they received the online submission 6 days ago. Please be cautious if you or your elderly relatives use this company. They will need support getting their money out. Thank you.

Horrible service, make wait on everything. Take money. Policy is horrible. Take money. Retun only 30% call, a few time always different answer.

Please, please do not trust Allianz handling your money. They are the most corrupt insurance company. I had over 20 years a deferred variable annuity that had less value today than in 2003.

I am in the process of dealing with my father being sick. I’m trying to apply the life insurance. He bought through Allianz. He had three other policies similar to this through the two other companies. The other two I have not had an issue with but Allianz drags their feet and loves for you to do extra paperwork. If I could give them a zero, I would.

My experience with Allianz annuities has been extremely negative. And as you can see from the numerous other reviews, there's company has a reputation for being one to avoid. I’ve had two separate accounts with 10-year terms, and both have performed poorly. What was presented as a stable, long-term investment ended up delivering very little return while tying up my money for years. The biggest issue besides not making any money, not keeping up with inflation, over promising an under delivering, is how difficult it is to get out. These products come with steep surrender charges, which effectively lock you in—even when performance is disappointing. By the time you realize what’s happening, your options are limited.

I got an annuity with Allianz through Russell ** with Bankers Life. I regret ever even speaking to Russell. Great sales pitch, but once you're in it's the worst company of all time. It's like they're living in 1999 and just put their first website together. It's near impossible to actually use anything online, and you end up having to email and call and stay on hold for hours or days and STILL nothing gets accomplished, so your only interaction with your account ends up being through mail. Like literally the US Postal Service mail.

It has been extremely difficult to work with the Allianz Life customer service just to get a copy of a 2025 1099. After 7 phone calls we still don't have it. We have submitted the requested paperwork to update the outdated phone #'s so they could verify us on the phone as well as update the address to the physical address for mailing to. We have waited the required processing times for Allianz to get it in their system. Then waited an additional 10 days once it was in their system before they said they could send it. We still don't have it. They advised us to set up online access which we did only to finish the process and get an error saying our type account did not qualify for online access. That would have been nice to know before we went through all that. Since we can't get online access we are now in the 2nd 10 days of waiting to request a copy of the 1099. Frustrating does even begin to describe process.

I have had my annuity with Allianz for four years to help provide for my retirement. My rep sold me the product as a plan that would have an 18,5%bonus and solid returns in monthly income for the future. The plan results have been a disaster with the initial investment losing value every year. Even if the plan results in a higher return the income payouts are much worse than putting my money in a CD or money market. The company might be solid but the customer gets screwed.

Horrible and irresponsible. Cannot handle a simple refund promptly and fairly. They had reached out regarding a claim I was entitled to for a refund. I had followed all steps and they simply sent the letter back with no instructions.

Company has and continues to do auto draft from account monthly, but not one customer service representative can locate policy. I have spoken with seven reps thus far. Each representative has been provided policy number from letter received recently along with name, date of birth and social security number. Still no policy found. Attempted to create online account but again policy not found. This policy has been religiously paid for over 30 years. Time to contact Better Business Bureau for assistance. Would never recommend this company.

If I could withdraw all my money I would but they can't even do that correctly. I have never experienced WORSE customer service in my life. This company is inept. There are no supervisors to speak to. I think all the "operators" have a script and are unable to handle problems.

Allianz would not release the funds from my fully matured Variable Annuity claiming that the signature from the initial opening of the account and the current request did not match. The company is requiring me to do a certified signature with a financial institution to be able to release the funds that are rightfully mine. Allianz will go to any extremes possible to not release funds to the rightful owner.

I've kept my money in Allianz for years due to an annuity, but I plan to withdraw it on December 10, 2025 because of poor customer service. During a call on November 21, an agent doubted my identity based solely on my voice, placed a fraud alert without further questions, and did nothing to resolve the issue. This was disappointing and raises concerns about how they handle customers. This is a large company and in this day and time should not have such prejudices. Take your money elsewhere!!!!

We are having a heck of a time receiving our money back from Allianz after deciding to go a different direction with our investments. No legitimate explanation has been given other than a "technical issue on our end." 5 to 10 days has turned in to almost a month with no end in sight. This experience has put allianz at the bottom of the totem pole for me.

I was with this company for 10 years, the annuity contract matured last month and my Financial Advisor from Edward Jones and I were discussing possibly merging the annuity with Allianz with my Edward Jones account. My financial advisor spoke with their representative and asked what my rate of return was for the previous year, the response was zero! Yes, zero money was made on a quarter of a million plus dollars! We confirmed no penalty or fees to withdraw that money and merge with Edward Jones. They mailed me by USPS a check made payable to me and Edward Jones to my home address and withheld $26,000 and sent to IRS!!!! This money was to be rolled over! We called them, but they were unwilling to work with us to stop paying the check, reissuing and stop the withholding! They are horrible to work with!

I do NOT recommend this company. After the death of my father they decided who received his benefits out of the beneficiaries. It doesn't matter who you list as first beneficiary. And if you have more than one account they may allow beneficiaries to be paid as requested upon death and not other accounts.

Allianz is an absolute scam. Do not get hustled into investing with them. We spent months deciphering my aunt's account with them after she passed on. By the time customer service had finally figured out my claim I got half of what I was supposed to receive over 5 years. This company should be shut down immediately. High pressure sales preying on the elderly.

My parents have paid into the Allianz Long Term Care program for decades. My mother is currently getting benefits from this policy to help cover costs for her long-term care. We are now going into the 2nd year of getting payments and now we are beginning to have problems getting claims paid. The facility billing person and I get no help from customer care, forms are being requested that were never requested before, invoices have to be submitted multiple times because Allianz claims they were never received. My mother needs these payments to continue her care. I now have to call Allianz monthly to make sure the paperwork is being processed.

Terrible in every way. Got the claim form 2 months after mother died. One month later still waiting on payment. Every time you call you are jerked around by someone who is not even in the USA. Overseas call center with people who speak poor English. Never are able to tell you anything. Say you will get a letter regarding the question but no letter ever comes and no money comes either. It’s most likely a scam company.

Allianz is the worst company to deal with. I have multiple contracts with them and someone else’s name was put on all of my contracts without my knowledge. I had to go through identity fraud, police reports, etc and found out it was an “error” in the company. They ignored my phone calls daily for months. Someone who gave me a false name admitted it would get changed back to my name, but no apologies. Now I am not getting any mail. When I call I am assuming they have my correct address. The latest is the data breach. I was on the line for 2 hours because I did not get any letter notifications. I was connected to a woman who could not speak English well and said she could not find my account after I spelled my name twice using a like Apple, b like boy. I regret and warn others DO not put any money with this poorly run company. RUN FROM ALLIANZ.

Allianz 222 is a complex policy with meager (very low) income growth. Accumulated value, PIV, and other items are difficult for many to comprehend. I see people blaming company, agents, seller, and intermediary for trouble with this policy. However, this particular policy is like a "Roach Motel", once you are in, you are stuck. My neighbor used to be an insurer actuary mathematician and he often suggested that process to get money from the policy should be started at least a year or two before policy period is over and payment schedule should be well established before policy period (10 years) is completed.

Opened up an annuity 5 years ago and was duped into their "benefits' but have been getting <1% earnings YOY despite being pressured into thinking the returns would be higher. Then our agent admitted that the returns on Allianz Benefit Control Annuity was earning far lower rates than expected and REALLY didn't appreciate that they failed to alert us of this fact. Now I'm trying to transfer our money out and have been TRYING to do this for the last month and they keep giving excuses and various reasons to deny me from being able to do so. This is utterly frustrating and I'm so over their horrible customer service and product quality. DO BETTER! Also, their annuities are just WAY too complex and their agents are probably making more money from my annuity than I am so buyer beware!

My former wife was covered under a STR on my life insurance policy that was purchased in 1990. She passed in March 2025 in Vienna, Austria. After 4 months we were able to get the death certificate and promptly expedited it and the claim form to Allianz. I just received a letter from them stating they require another document showing the cause of death because it happened outside of the US. So Allianz, what is the relevance of that requirement? She passed away in her bed and was found days later. Why are you requiring an unnecessary paper that will take months more to secure? The premiums were paid for over 35 years. You have a moral obligation to promptly pay this claim so her 3 children can have closure.

For 8 years my request to have a qualified charitable distribution taken from my IRA annuity has been mishandled. From wrong amounts, date changes and new forms, I have yet to receive what I want... 1 check for my charity and and the remainder of the RMD for me.

This is an extremely shady company. I would run as far away as possible. They basically hold people hostage and bury your requests in nonsense making every excuse for you to repeat your requests over and over until they hope you give up. Dealing with them has been a huge nightmare and waste of time. Wish we were never referred to them. They basically are in the business to give you the run around.

I owned a Allianz Annuity 222. From 2014 to 2021 I had a return of 27.6% that is a 3.94% accumulation return per year which contributes to surrender value and death benefit. From 2021-2025 a 0% return for surrender value. Apparently the representative from Alliance that are there to help select index options prefer not to steer you in the right direction for the proper and best returns for the clients. Bloomberg US Dynamic Balance Index which gave me 0%. But my understanding CEOs during that period of time did quite well for themselves.

I spoke with Rohit today. He was extremely helpful in guiding me through my annuity and also sent me the documents about them. I made sure to get his extension so I can utilize him if I need any more assistance.

While my complaint relates to long term care insurance Allianz no longer sells, they still include it in other products and my experience hints at the overall unethical and careless business practices of Allianz. They sold our family a LTC policy with an extremely long 180 day elimination period. Our family paid over $7,000 in on-time premium payments over 15 years only to recieve ZERO benefit from the policy. During the 15 years, Allianz made claims processing errors that resulted the failure to correctly process claims when LTC was needed and cleverly avoided paying for any care whatsoever. In the end, 180 days was far too long for a terminal patient to wait for a benefit they'd paid thousands of dollars for. Responses to our requests for a waiver were met with cold, regurgitated, impersonal, and unempathetic responses or no response at all. I urge potential customers to choose another company. Allianz does not deserve your business.

So dissatisfied with this company. We have been trying to get a live insurance policy paid out for over 3 months now. Customer service has been rude and unhelpful. Would not recommended this company for anything.

Allianz is the oldest, largest and highest rated life insurance company in the world. I have been dealing with them for the past 8 years. They have been nothing short of exceptional at every turn. All of these negative reviews are a result of user error. Call your advisor and get them to help you instead of blindly calling a massive insurance company with zero idea of what you are trying to accomplish, and then you leave a bad review. Be better.

I submitted my documents to an already existing (and approved) claim and I have received zero communication from Allianz other than the initial email, stating it would take 7-10 days. That was 1 month ago!! I have emailed, and called several times. When I email, I am told to call. When I call I am told to contact them via email.

Allianz is really good at collecting money, not so good at disbursing benefit payments. They keep messing up payments to my mother who relies on the benefit payments to pay her rent. She is now owed 3 months worth of payments and speaking to customer service is like talking to a wall. The next call they get from me will be from my attorney.

Paid into the policy for three years without a single missed payment. Need some of the cash value, well I'm getting the run-around my money. Not easy to request and receive monies when the need comes. Not good at all!

Allianz is miserable to deal with. My father was sold a terrible Allianz annuity policy and it took MONTHS of calls and paperwork to straighten it out and we avoided a huge penalty by only days. After my father passed away it took another couple of months to get the death benefit and they refused to pay in a lump sum, so the beneficiaries must accept annual payments for ten years. I hope they are in business in ten years. They are just awful. Do NOT recommend this company.

I agree with the other reviews of Allianz. It is horrible. Do not ever give them a dime. We've been trying to collect the money from my brother's account after he passed away and their call center overseas wasn't any help. They were supposed to send us paperwork, but they never did. I had to figure out that they actually do have a way on their website to fill out the paperwork, but they still haven't sent us anything. Compare them to Fidelity, where we received the check within 2 weeks. This company is not legitimate.

Company is basically a scam. I have been trying to get a client's money back for over a year. They just give you the runaround. Call center is overseas and it's a horrible experience. Court ordered the separation of an account due to divorcee. Company will not honor. Says fill out x paper form and then months later says no that's the wrong form, fill out y.

After having been shot down by their contracted financial advisor back on Sept 5, 2024 from a BIG misunderstanding w/o resolving it, I reached out to Gary R., Allianz Sr Compliance Specialist, (contracted with prior financial advisor), as he didn't do much for me when he mislead me as to finding me another financial advisor and accused me for stirring it when I was trying to fix the issue but their folks instigated it initially w/o proper clarification what was really going on there.

I am so disappointed at Allianz! Don't buy their product. I was told by many producers not to go for allianz, only after I purchased the policy. Now I am suffering: a simple task of getting online access was taking forever, after many calls, after their IT dept promised, still as of today it's not resolved. A company like is not capable of taking care of clients, hard to believe their integrity when it comes to money.