AIG Annuities

AIG Annuities Reviews

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Overall Rating
2.4 out of 5
See all 134 reviews & ratings

About AIG Annuities

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

AIG offers high-end home insurance policies to cover luxury homes. The company specializes in serving those with a high net worth, including several individuals on the Fortune 400 list. It’s a large company with various assets and resources, but its policies are fairly expensive for the average homeowner.

AIG Annuities Reviews

ConsumerAffairs has collected 134 reviews and 380 ratings.

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Page 1 Reviews 0 - 10
Sales & MarketingStaff

Reviewed Aug. 18, 2023

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.

When I spoke to them yesterday, they informed us we needed to fill out an additional 7 pages. It was the IDENTICAL forms we had ALREADY sent them. We are at our wits' end. Why is this horrid company allowed to stay in business!? The one-star reviews are identical to the things we have also dealt with. The numerous cranky employees, call-waiting, hang-ups, and outright lies. This is looking like an outright SCAM. Shame on these companies preying on the trust of older Americans and stealing their hard earned life savings. D. **.

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Customer Service

Reviewed Aug. 9, 2023

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.

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    Reviewed July 21, 2023

    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!

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    Customer Service

    Reviewed June 15, 2023

    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?

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    Customer ServiceCoveragePrice

    Reviewed June 14, 2023

    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).

    I have sent AIG this information five times, records that prove it, and notes from two customer service people at AIG confirming that they have everything they need. There has been no resolution of this claim and I continue to get emails from them asking for the same piece of information. I have sent them five times. AIG Travel Guard Insurance is not worth the cost of the paper it is written on. Travel these days is tough enough, don’t make the mistake I made by making the travel, even more difficult by buying travel insurance from AIG.

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    Nicholas increased rating by 1 star.
    Customer ServiceStaff
    After a positive interaction with AIG Annuities, Nicholas increased their star rating on June 25, 2023.

    Updated review: June 25, 2023

    Company finally paid claim. But still horrendous!

    Original Review: March 25, 2023

    AIG annuity claims needs to be investigated. Customer service awful. Long hold times. incompetent representatives. My mother died. I am the sole beneficiary to my mom's life insurance annuity. Delay. They lost my initial claims form. They wanted additional documents. The funds are needed to pay death expenses. Avoid this company.

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    Customer ServiceStaff

    Reviewed Oct. 27, 2022

    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.

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    Customer ServicePunctuality & Speed

    Reviewed Sept. 21, 2022

    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!

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    Customer Service

    Reviewed Sept. 16, 2022

    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!

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    Customer Service

    Reviewed Aug. 22, 2022

    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..

    Even after I explained I was waiting on the funds to complete a mortgage closing...NO HELP!!!! I can't imagine if someone actually needs their money once they retire to pay bills and survive. I was told on a Friday it would be by end of business on the following Monday since they don't work weekends. So I call on Monday and was told it should by close of business today and if not today then tomorrow. I called later on Monday and was told by someone different that it would now "probably" be Wednesday. So in a matter of a few hours the information has changed again. After this experience I would never do business with this company again or recommend them to anyone. At this point I'm just hoping to get my money without having to take legal action.

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    AIG author review by Jim Blankenship

    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.

    by Jim Blankenship Investments and Retirement Planning Advisor

    Jim Blankenship is a Certified Financial Planner with over 30 years of experience in the financial services industry. He is the founder and principal of Blankenship Financial Planning, Ltd., has earned the Enrolled Agent designation and is a NAPFA-registered financial advisor. Prior to establishing his independent firm, Jim operated a successful tax preparation service and managed information technology operations for a major financial services corporation. Jim is the author of three books and a contributor to the blog, Getting Your Financial Ducks in a Row.

    AIG Annuities Company Information

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