AIG Annuities Reviews

Terrible customer service. I'm still waiting for promised information and explanations after 2 weeks--including having my independent financial advisor (who sold me the AIG product) try to help gain a response.

Disgusting company. I invested $300,000 5 years ago and have not made a dime. I have a 10 year annuity and I am withdrawing all of my money with a penalty because they wanted me to sign up for another 10 years, supposedly to put it in a better performing fund. What a bunch of thieves. I will take the hit and lose $20,000. I can make my money grow much faster on my own. Despicable company and people.

We are getting away from this company for many reasons. When my wife pulled her money out, she was asked is it in part due to your rep. She did not name him. The guy on the phone transferring her money named him. She said yes. I'm now retiring so I'm leaving too. Rollover time. The name is Wayne **. He insulted my wife on the phone saying she lacked good communication skills when it was his fault. I told her if he needed anything he'd ask, told her keep any messages brief, let him do his job, etc. His job is not to insult customers. Not only does she have great communication skills, she's multilingual and has an IQ in the 99th percentile. So I think she's got him beat.

My mother and her now deceased husband, purchased an annuity from a rep at 5th 3rd Bank on April 17th, 2008. She is now in a nursing home, at nearly 96 years old. My sister and I requested her funds because she is nearly broke, and Medicaid will not take over until the annuity is collected. We have been dealing with that company since May, 2023. We filled out all documents as requested, and have had to repeat the process an ADDITIONAl four times. They told us everything was good, and to expect a check in 10 days. It did not come.

I sent in a withdrawal request. Unknown to me I was using an old form. I had requested that Federal and State taxes not to withheld. I called after a few days to see if they got my request. I was informed that it was being processed but federal taxes were withheld. I was offered the chance to cancel the request and agreed to do that and fill out new forms. The service rep did not cancel and I received a check and taxes were withheld. I called customer service and they said to hold check until I heard from them. A week later I call and again no help. I called again today and they tell me an hour to 2 hours wait to speak to a supervisor. This is the worst customer service I have ever had. I will be checking into AIG to withdraw all my monies and put them somewhere else.

Bought trip insurance for $250. Flight was cancelled, had to get a new flight which got in the next day so I had lost my ride, had to hire taxi $178. AIG denied claim because cost incurred was after my flight landed. Don’t spend the extra money for trip insurance. It’s not worth it!

I tried repeatedly to call customer service, waiting over 30 minutes each time, and only got a live human one time. She told me I needed to call a different number, which I called and waited over half an hour without speaking to anyone. I have sent in the required paperwork for a third time. The first time I sent the papers by certified mail. Someone signed for the envelope but nothing was done. I received another packet of papers which I filled out and emailed (hoping for better luck) to the company almost a month ago. No word. I just emailed the forms again. Third time is the charm? Does anyone really work there?

I made a big mistake purchasing travel insurance from AIG Travel Guard Insurance and I am writing this post so that you may not make the same mistake. During my insured trip I had multiple canceled trips on United Airlines (that’s another story) and incurred $4500 in additional expenses in order to get home. I filed a claim for coverage with a AIG Travel Guard Insurance in early April and now, in mid June, there is still no resolution. It is clear to me that AIG has no intention of living up to their contractual obligations and instead is engaging in stalling hoping I will go away without them, having to make good on their insurance obligations. I have received six separate requests for the same piece of information (documentation showing why United canceled the trip).

Company finally paid claim. But still horrendous!

AIG has terrible customer service, and I would advise against doing annuity business with them. I recently made a call to the Annuity Service center on Friday 3:00 pm and they were having their end of shift party. It was that intense with shouting and yelling in the background that it was just about impossible to hear the agent. They were not willing to make a minor adjustment and had no problem-solving skills. YOU ARE ON YOUR OWN AND GET WHATEVER.

I have an annuity with AIG. AIG and myself have a 10-year agreement for AIG to pay me a monthly payment every month between the 4th and 6th of every month. This month, September 2022, they did not make the payment. It is now 9/21/2022 and I still have not received my monthly payment. When I called the customer service number and was on hold with five different people and two hours later, I was told that AIG had a technical issue with their payments and that was the reason they were late. That is unacceptable!!!! A company of this nature should NOT be late on their monthly annuity payments. If I was late on a payment, I would be charged a late fee and penalty. STAY AWAY! Terrible customer service, terrible company!

I work for The University of Texas (UT) as a new employee. I am wanting to open a voluntary retirement account so I called AIG Retirement as they are one of the authorized providers. I called the phone number listed on the UT HR Department Website. I was on hold for 18 minutes after I talked to someone who transferred me to Enrollment Department. Then a female CR told me she cannot answer my question because I don't have an account with them!! Whoa.... What an unpleasant experience dealing with AIG Retirement!

I've had a retirement account since 2004 with AIG/Valic. I even rolled it over when I retired from one job to another that also had AIG/Valic for Deferred Comp accounts. In the last year the most recent employer decided to change companies to Empower. Now I understand why. I've been trying for over 2 weeks to have MY money dispersed and direct deposited into my bank account. I've talked to customer service reps, their manager and their manager's manager. One even gave her email to contact her directly. I emailed her twice with "NO" response. Each person I've talked to has given a different time frame of when the transaction will be completed. When I ask to speak with someone in the department that disperses funds they're unreachable and not excepting calls.. Absolutely ridiculous..

My mother died two years ago. I have had to engage a trust lawyer for two years now to get AIG to disperse the funds from her annuity as per her instructions in her trust. They continue to stall and offer excuses for why they can't or won't do so. I hate to litigate, but after two years with legal counsel involved, it appears I may have no choice. I couldn't warn anyone stronger; From my experience, I would avoid doing business with this company. They have been awful!

I had a retirement account at TIAA CREF that was transferred to AIG (Valic) when Valencia College changed retirement plans. Last year at the age of 65 I contacted AIG to have my account surrendered and funds disbursed. The 3 reps I spoke with, Alexie, Naomi, and Jackie, over the course of 3 months did nothing but deliberately provide false information, place obstacles, and demand I comply with ridiculous request they made before they would release my funds. I was told that my birth date, SS number, and address was incorrect according to their records. They demanded I submit notarized documents to prove my identity and then demanded additional notarized documentation after I complied with their demands.

We used this company to insure two passengers, the flight was delayed and the trip ultimately didn’t happen. We submitted a claim through the insurance and they never got back to us, just recently we received a check for $250.00 but we don’t know how our claim adjuster, Chang **, got to that number. We have called and were told that our adjuster would contact us by email, it has been weeks and she hasn’t gotten to us. The insurance should have covered a greater amount based on our personal circumstance and we know it, but they have just left us without information or aid. I wouldn’t waste my money with this insurance plan and would prefer to just pay more for a ticket through an airline and be assured that something will be done than try to save money and still be trying to recover it over two months later! Would give 0 stars if I could.

I am my father's Power of Attorney and set up a small annuity with them for him. My father is deaf and has told them on the phone that I am his power of attorney and to please deal with me. They then made me get the power of attorney notarized and mail it to them so I did. They then locked his account so I could not get online access to it. When you try to call them, you sit on hold forever and they keep saying, "Please use our online service" which they locked. I actually think they are a scam company.

My husband was attempting to withdrawal a small amount of his annuity. 3 years ago he took a small portion and was helped over the phone to get the Plan Admin (his former employer) to sign off to allow him to use his funds (over 65 and normal retirement). This time our paperwork has been rejected 3 times and we are given zero info as to why!! The plan admin even sent a Statement stating they knew us both and for AIG/Valic to call them if they needed more info. Nope, just rejected the paperwork again! Something's up!!! We are going to remove all monies from this company now as we are very suspicious of what is happening.

This company is the epitome of ineptness. As the executor of my aunt's estate, I have worked with several retirement and investment companies. Valic is the only one that has continuously thrown up roadblocks when I have attempted to disperse funds to the beneficiaries. The group was told disbursement checks were mailed ten days ago. When checking on status today, one person was told the check was in the mail, the second was told they had found paperwork requesting EFT (after having said the check was in the mail), and one was told the claim was under review (after being told the check was in the mail). With as many times people have been told the check is in the mail, Valic is behaving like a person with a 300 credit rating. "The check is in the mail". Stay away from the group and their advisors.

I have been attempting to transfer my daughter's UTMA to her since she is now of age. This is a simple transfer of ownership. I called to ask for guidance and was told I needed to get a signature guarantee. I did this and was followed the directions I was given. The paperwork was rejected in part because I did not need a signature guarantee. My daughter and I sat down together on the phone with a customer representative and he went over with us line by line what we needed to do. We filled the paperwork out exactly as instructed. I specifically asked if there was anything additional that was needed. I was told there was not. It was sent in and again returned. The paperwork was incomplete. This has become a nightmare. My daughter and I live in two different states. It is during a pandemic and is supremely inconvenient. They have no idea what they are doing. If I could give a zero rating I would.