AIG Annuities
Overall Satisfaction Rating
3.38/5
  • 5 stars
    16
  • 4 stars
    16
  • 3 stars
    15
  • 2 stars
    3
  • 1 star
    11
Based on 61 reviews that contain star ratingsSHOW RATING DISTRIBUTION
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AIG Annuities

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Last updated: Dec. 6, 2017

104 AIG Annuities Consumer Reviews and Complaints

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Verified Reviewer
Original review: Dec. 6, 2017

We purchased what we thought was term life; after over 10 yrs of trying to surrender it for the cash value we found out it was an annuities plan. AIG told us they were working on resolving our complaint. It's been over a month now and we haven't heard from them. When we requested to speak with our agent we were told that the office in question was closed and the agent transferred but they didn't know where. A billion dollar company and they don't have the resources to know the location of their agents.

Verified Reviewer
Original review: May 21, 2017

My agent knew a lot about annuities and was pleasant and personable. I’m happy with the customer service but I don’t feel like I got the best investment through AIG. Also the withdrawal penalties are pretty stiff. The payout options are diverse and profitable and I was happy with that aspect of AIG’s annuities, and I’m sure I will be pleased when I cash in. I’m happiest with the funding options they offered and it was the deciding factor in purchasing from them as opposed to a competitor.

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Verified Reviewer
Original review: May 20, 2017

I had AIG through my employer and I received quarterly company matches at 10%. When I needed money for emergencies I could count on this annuity to be available which was very helpful. But I wish I had done a larger amount so I suggest if you can afford to do the highest percentage you can manage. It only took about a week for me to withdrawal funds from my annuity through AIG. The process is easy to understand and you get your money quickly. Payment options was a paper check for me however there were other options like a direct deposit to your bank. I wish I had decided on the direct deposit because you receive your money faster.

Verified Reviewer
Original review: May 14, 2017

AIG Annuities has the best funding privileges around. Great customer service that makes sure your money pays you over time. Service of excellence that commands respect. Service above the annuity bar. They are fast, reliable, over the top, trusted and honest with care and respect. There's money when needed. Every option available for a successful annuity. No fooling around withdrawals. Agents stop your dumb mistakes too.

Verified Reviewer Verified Buyer
Original review: April 17, 2017

I would like to know why I see an article "BlackRock mismanaged employee's retirement funds", when I was one of the many that lost 3/4's of my retirement through 'AIG's' fraud and deception back in 2005. I wrote to the Securities Exchange early in that year as my money was going away rapidly. They said all was on the up-and-up with AIG. But that was a lie, as AIG was not on the up and up. I was introduced to AIG via Washington Mutual Bank as I had been laid off from my job and needed to roll my 401K (retirement) plan into another to avoid penalties by the Government. I had 7 Account Managers through Washington Mutual while these people stole my retirement monies! The Government and the Powers that were received monies from fines given to AIG for committing the fraud on we people. THE PEOPLE (at least I) never saw any recovery monies from AIG.

I worked hard all those years raising my children on my own, trying to save everything I could for my retirement and for my children. This is how fair this is. It's the Government and Lawyers that got the money through fines while we now have to depend on low income Senior residences and living from day to day! Why weren't we reimbursed for the loses we incurred because of AIG's illegal activities. I'd like to know. Now I see a headline like 'BlackRock's'... All I can do is shake my head at a 'Class Action LawSuit?' Those people won't get anything to compensate them in a rightful manner. Something must be done to correct what should be made right.

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Verified Reviewer
Original review: March 28, 2017

They have friendly reps. They were very helpful and informative. They explained everything to me before I made my decision. Great customer service. The withdrawal options are reasonable. The process is very simple as it was explained to me before I decided to choose them. I was informed of the withdraw options and penalties that came with withdrawing. I was able to make comparison to competitors. Their payout is very good and better than competitors that was mentioned in our meeting. I am able to choose a good amount of cash overtime. Everything was explained in regards to funding. After our meeting I was able to choose the best options for me. The benefits are good. I am happy.

Verified Reviewer
Original review: Feb. 15, 2017

They corrected their error on the original paperwork. They had the incorrect monthly payment amount. They were trying to pay out less money than they were suppose to. There are no withdrawal options and we did not request any. All we wanted was a death benefit named in the paperwork. They said they had to go back to their paperwork to verify. They did not even apologize. There was not any payout option that was given. The only thing that we did was to give them the account number that the future payments were suppose to go into. Also there was no funding option. We just sent them a check for the annuity.

Verified Reviewer
Original review: Feb. 11, 2017

Have not really used customer service much. The one time I called I was put on hold and waited a while until I spoke to someone. I have not made a withdrawal yet I am using this for retirement. If I make a whole lot of money maybe I will and reinvest it.

Verified Reviewer
Original review: Feb. 4, 2017

I think the customer service was excellent. They communicated well so I could understand. There were plenty of withdrawal options. They were helpful in helping me to make my decision on withdrawal options. I was very satisfied. Also there were plenty of payout options. I think the company defined these pretty well. I would gladly do it again. Not that many funding options. Yet it was easy to understand, and to find the right one. It didn't take too long and helped me to better my future.

Verified Reviewer
Original review: Jan. 21, 2017

I keep detailed records of my loans and investments. AIG has changed "handlers" at least 3 times since I acquired my annuity. I am unable to get detailed information about my annuity because I am constantly "locked out" of the online login. So I call and they aren't sure what is happening. They clear my login information so that I can start over, I register, got to login "locked out!" They can't seem to fix it!

ADDITIONALLY - If you acquire a loan, the only information you will get is a Loan Payment Due Notice. In order to get a detailed report of payments, interest charges, balances, you must call or write to the loan department who will, within two weeks, send you the report. I'm not sure that this company is legit! I WILL BE TRANSFERRING MY MONEY ASAP! Something's not right with AIG.

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Verified Reviewer Verified Buyer
Original review: Jan. 10, 2017

My mother passed away end of October 2016 and my two brothers and I filled out paperwork AIG sent us for death benefit. Then the nightmare began. They keep saying we are filling out paperwork wrong even though this last time I had Customer Service Rep tell me line-by-line what information they wanted as bank representative told me to do. We filled out this same paperwork for two other annuities with exact same information and no problem with them paying out. AIG doesn't bother calling/emailing/letter to notify of problems. I have to call and find out they are still not processing claim with yet more excuses. With all the problems we have had dealing with AIG, I would advise everyone to definitely NOT invest with them. If anyone knows where I can file a complaint against them and get some help with getting our money from this company, I would greatly appreciate the help.

Verified Reviewer
Original review: Jan. 8, 2017

I spoke with our human resources department to ask them which of the approved investment companies allowed customers to take out loans against their retirement investment account. I was advised to meet with a salesman, from what was then called, AIG. I was at a very vulnerable point - facing job loss and foreclosure on my home and a considerable reduction in income. I made the mistake of thinking I could trust the salesman associated with the school district for which I had been employed for over 23 years.

I met with the recommended man and revealed my dire situation to him explaining that I needed a loan ($5k or less) to fund my upcoming forced (foreclosure) move. I wanted to borrow the money from my own funds if it all possible to avoid huge personal loan fees etc. I planned on finding a company That would allow me to do this and then I would transfer some of my fidelity held funds into that account which would allow me to take the loan. To make a long story short this man took advantage of my vulnerable state. He told me he received absolutely no commission at all. (This was not something I asked him to reveal. He just volunteered this info.) Then he asked if we could pray together. I have to admit that I did not feel comfortable with this and felt it was somewhat strange but I allowed it anyway. I should've known something When he made this request.

After praying with me he told me that he would give me the same advice that he would give his own daughter and that would be to transfer ALL of my money into his annuity. I trusted him and made the huge mistake of doing just that. I've regretted it every day since I transferred it. I have had to pay huge fees on the money when I had a hardship and had to Withdraw money from the account - the penalties were much larger than just the penalties I had to pay to the IRS and the state. AIG (NOW VOYA) penalized me tremendously.

When I tried to call the salesman, who VOYA now called my personal representative, he wasn't very friendly. He wasn't as friendly as he was when he talked me into moving all of my savings into his company. He wouldn't speak when I asked him to explain why he didn't tell me about all the negatives associated with the annuity he sold me. I asked him why he flat out lied about so many things in regard to the annuity. In addition, VOYA refuses to send a paper statement to me. I have asked for a paper statement at least 4-5 times both verbally and via email but to no avail. I have had to make three withdrawals from his account of the past few years and the penalties have been unbelievable. I had no choice. Several times paperwork has been lost and I've had to fax it to VOYA again. They move at a snails pace processing all the special papers and so forth that go into withdrawing money from my retirement.

I never made a complaint with about a company in 59 years of life. The customer service agents were for the most part rude and sharp tongued with me. They acted as if it was their money and criticized me heavily for withdrawing it and did not offer to help me fill out the thick stack of papers that were required each time I made its withdrawal. Once I was able to talk one of the customer service representatives into helping me with a couple of questions I had on the paperwork. Once I was given a break in the penalty because I am disabled and I meet one of the criteria for not having such a severe penalty when taking money out during a hardship. The next few times I withdrew the money I did not receive the discount because they found in their paperwork that I took out my annuity with them before they had put in the handicapped clause.

When I wrote in and complained about this I received a seething letter back telling me that I should stop complaining or they would charge me for the penalty I did not get the first time I made a hardship withdrawal. It's just been a very bad experience and I really miss the professionalism and honesty of the people at Fidelity. I would give anything if I had had some advice other than the advice of the salesman. I give anything if I just let my money in Fidelity. It was a very bad time in my life for me to take out an annuity, due to my age. I'd give anything if I had had more education under my belt so that I wouldn't have had to rely on the salesman for sound investment advice regarding my investments. I would like to warn everyone out there - don't even think about annuities until you have thoroughly researched them yourself. Talk to your friends and family members and ask them what they think. Don't be alone in your decision.

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Verified Reviewer
Original review: Dec. 7, 2016

AIG is a great investment company and I would recommend them to anyone who is in the market for an investment firm. I just hope that when that time comes I will have no problems at all getting my money out. I'm 39 and I can't take it til I'm 55 but there is plenty of tickets in there to make us very comfortable. My payout options are that I cannot take my money until I am fifty five years of age. I don't like that I mean why can't I have it now? What if I need it to buy a house or a car or pay bills. You see my grandparents set it up for me and they set the restrictions. My grandparents told me last year that they added more money to my acct. So that's always a good thing.

Verified Reviewer
Original review: Dec. 6, 2016

Customer service was good. I did have to contact them once and they were able to answer all my questions and concerns in a professional manner. Did not have any problems withdrawing but was not heavily invested. Perhaps there might be a problem if more money was involved. I guess the payout was ok. I wish it would have been more but I guess that's just normal to want more. It might have been the economy at the time I had payout. Funding options were quite good. Compared to others it was better, but compared to others it was not. You just have to take chances as with most investments.

Verified Reviewer
Original review: Nov. 24, 2016

Customer service was totally fast, accurate and reliable. I've had three occasions I've had to call customer service. They were always courteous and treat me like a person. AIG was very quick to clear up anything I had on my mind. Thank God for their customer service provider. I didn't take mine in structured settlement I need to cash now that's why I got the AIG ever true in increments of $10,000. I had no problem. Everything was fast, accurate and taken care of in a hurry because I need the money now. After a bit I took one lump sum payout that's why I decided to go with AIG and it cost me a lot to pull up all that I had - I couldn't be able to structure settlement payments. I had the option to take it all at once funny was fair and moderately priced to take it all out at once. I didn't have to pay a large lump sum. I would really recommend this company 100% to any of my friends and family.

Original review: Nov. 16, 2016

I was doing well with AIG until I moved my account to a safer investment because of my age. From the time I requested my money until the other investment received it my AIG account (couple of weeks) dropped 2% so I was told. I didn't see that on the news. The profit I made with AIG they took back yet they make money on my money for 4 years.

Verified Reviewer
Original review: Nov. 9, 2016

I have never needed to call or receive any assistance from customer service, but AIG is such a great company that I'm sure it would be pleasant and helpful. There are tons, and I mean, TONS of options for you to choose from! It's no obligation, and you can withdraw at absolutely any time that you feel the need to. There are many payout options available for you to choose from. They are also very flexible and you can choose the one that works the best for you and your family. There are many funding options available for you to choose from. They are very flexible and will work with whatever situation and background you come from.

Verified Reviewer
Original review: Oct. 27, 2016

They helped with everything. If I had a question they were there. They were great. I would recommend anyone doing it. They will help you through the entire thing. They have so many options for you when it comes to withdrawals. You never have to wait long at all. Customer service knows what they are doing and they help you with the process. Payout options is nice. They have several ways to do this. They honor what they say. Never any hassles through any of it. The entire process took hours not days to complete. The funding process is nice. Funds can be completed where and when you want it. You have access to your money. Never a hassle with any of it at all.

Verified Reviewer
Original review: Aug. 18, 2016

Very happy with the customer service I received at AIG Annuities. They were absolutely wonderful there. I felt like they rolled out the red carpet for me in a way, I was treated so good. That's what keeps me coming back. Very happy with the withdrawal options as I don't really mess too much with anything other than my regular account. I have no issue with what they offer. The payout options just work for me. I have researched and researched again. This seems to work the best for me and my family. The funding options are something I am happy and satisfied with.

Verified Reviewer
Original review: Aug. 14, 2016

I get my money in ever increasing installments until one lump sum at the end of my annuity term. It gives me the stability so I don't have to deal with a lot of money at one time. I can not get the full amount at once but the installment plan over time makes it a much more manageable to deal with the different sums. I can invest the money or bank it and spend it. The less I have the more I am not tempted to make large purchases. I get money deposited into my bank account on certain times of the month. Each payment increasing until I have the whole value of the annuity I bought. I bought my annuity at a discount which makes it a bigger savings deal. I bought it through my insurance provider in payments like my insurance so I could afford it.

Verified Reviewer
Original review: Aug. 8, 2016

This is the WORST company I have ever had to be forced to use. The company I am employed with uses this horrible company. They will not give the money you are entitled to for hardship. Even with documentation required! They are very poor investors. The money that I trust them to invest is not invested to increase. It grows very little, and this is in their high investment accounts. The customer service is very pathetic. Every time you call they do not know what is going on. Then after at least 10-15 minute holds you are directed to someone different. I STRONGLY RECOMMEND THAT NO ONE USE THIS COMPANY. They have already been investigated before and need to be again.

Verified Reviewer
Original review: Aug. 3, 2016

I would definitely recommend this because their service is exceptional. In fact It exceeds my expectation with them. For that two thumbs up. I would definitely recommend this because it gives you a lot of options for your convenience. In fact it meet my standard having with this. I would definitely recommend this company because the pay out is fat and quick. I can able to get right away compared to other companies. Funding options is amazing and exceptional that is why I would definitely recommend this company to my family and friends.

Verified Reviewer
Original review: July 1, 2016

I love this company. Their customer service was very helpful and they had all the questions to my answers. They were very patient with me. Never rushing or getting annoyed. They also had some great deals as well but overall they are a good solid company that cares about its customers and their problems. They also have some advice if you don't understand or know something fully. It's helpful because they taught us a lot of stuff that can be very useful. And their customer service were great and I highly recommend this company because they are great at what they do and they care about their customers well being.

Verified Reviewer
Original review: June 26, 2016

Customer service was excellent helping me throughout the whole process. Prior to using AIG has my investment handler, I had no idea what I was doing. The withdrawals were simple. Had I waited to set deadline I could withdraw with no penalty into brokerage account established with AIG. Payout took between 7-10 days which was rather lengthy and not very liquid. However, when it did occur there were no issues associated with the payout. Funding was as simple as attaching my checking account and providing a routing number for bank. Simply processed like a ACH transaction I assume.

Verified Reviewer
Original review: June 21, 2016

I think it is a very good company and they help people very well. They have great products and I think everyone should get this company. They will be very happy. You can withdraw your money very easy and not have any problems doing so and I believe this is a great thing. If you need to do anything like this it will be easy. They pay out very well. You will be very happy with this option and have no problem getting your money so don't worry and use them. They have a lot of funding options. Just one of the great things about this company, so it is great that you have so many options and have no problems.

Verified Reviewer
Original review: June 20, 2016

Get their help with all my questions. Gave me all the answers I was looking for. They were very nice and explain everything to me very, very clear. Withdrawal was very easy and the person that helped me was very nice and smiled and talk to me very clearly and I had no problems at all. They were very understanding about things and helped me a lot. I would recommend to lots and lots of people. The payout option experience was very clear and they explain it in many different ways. The person that helped me took the time to know me and help me out with everything I asked. I would recommend them to lots of friends and family. I really like the service I have received from them and it was a great.

Verified Reviewer
Original review: June 17, 2016

They are great, they are nice and respond quickly. Any help you need they try to find the answer as soon as possible. Sometimes if you call late in the evening the waiting time may take a little bit longer, but I guess it is because they are backed up. There are many withdrawal options, although you must have a certain balance that is in your account, in able for you to withdraw. Anything that is under the minimum required balance will require a fee. My payout experiences so far have been great, I really haven't had a problem, unless my account didn't have enough funds in it in order for me to withdraw. Funding options are just about the same. No real problems here either. You can fund from a variety of ways not really limited to anything unless your account doesn't have the required balance. Satisfaction.

Verified Reviewer
Original review: June 15, 2016

Always very helpful with helping me make decision. Follow up emails every week to make sure everything is in place and working to the best of its ability. I can leave at any time I want with out any additional fees to pay which is a nice added bonuses which make me want to stay with this company longer. The payout is fast and efficient always when I need it and never any hassle in getting paid. Which is a plus to the consumer and company. The company gives you tons of options to choose from but, will guide you through the process to make sure you are getting the best plan possible.

Verified Reviewer
Original review: June 11, 2016

My mom passed away and left me some money. We put money in an annuity for our son until my son was an adult. When the annuity actually transferred to him it had already doubled. My son held onto it and it tripled. It was locked for about 15 years. We left it alone and asked our son to do the same which he did. He has a nice sum of money now from his Grandma. He could have just cashed it in for the face value or roll it into some other fund. He kept it in the original fund to his credit.

Verified Reviewer
Original review: May 31, 2016

They have friendly reps. They were very helpful and informative. They explained everything to me before I made my decision. Great customer service. The withdrawal options are reasonable. The process is very simple as it was explained to me before I decided to choose them. I was informed of the withdraw options and penalties that came with withdrawing. I was able to make comparison to competitors. Their payout is very good and better than competitors that was mentioned in our meeting. I am able to choose a good amount of cash overtime. Everything was explained in regards to funding. After our meeting I was able to choose the best options for me. The benefits are good. I am happy.

AIG expert review by ConsumerAffairs

AIG is one of the largest insurers in the world and has more than 88 million customers in 130 countries worldwide. Founded in 1919, AIG now has more than 63,000 employees.

  • Anytime access to performance: Using the website, consumers have access to current variable annuity performance data at any time.

  • Retirement planning advice: The Retirement Planning portal of the AIG website offers step-by-step advice on planning for retirement, as well as advice on how annuities fit into a retirement plan.

  • Market news: For consumers who are interested in following the markets, AIG offers snapshot data of the major indexes and other financial health gauges.

  • The power of two: AIG annuities are issued by American General Life Insurance Company and The United States Life Insurance Company in the City of New York.

  • Social Security guidance: AIG offers guidance to consumers who are trying to understand the implications of differing options for receiving social security benefits.

  • Best for: Savers plus income generators, retirees and Social Security recipients.

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AIG Annuities Company Information

Company Name:
AIG
Year Founded:
1919
Phone:
(800) 445-7862
Website:
www.aig.com