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About AIG Life Insurance
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.
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We’ve been waiting two + months to have a policy issued from AIG. I was told that during the medical underwriting phase they cover you with temporary life insurance. Well now they’ve finished the underwriting and have approved the policy. And they’re dragging their feet for weeks prior to issuing it, probably intentionally since my due date is coming up. And they have conveniently removed the temporary insurance they give all clients so I now have zero life insurance going into the birth. But here’s what ticks me off most: though they claim to be finished with underwriting they are STILL pulling my medical records as the pregnancy continues and it looks like we won’t actually have a policy until weeks or months after the delivery. It’s a low risk pregnancy but you never know.
The company was willing to subject us to health checks and set a higher $$$ rate for me based on my pregnancy stats (we all get heavier while pregnant), but we’re not going to be covered by the company until delivery - so we’re paying the risk premium spread over ten years after we get a policy, and yet they’re avoiding covering an actual risk. It’s a ** thing to do, and they led us to believe there would be no problem having insurance as the process goes on. AIG has a large number of insurance complaints, I think we’ll be better off if I shed the baby weight later and get competitive quotes from companies that don’t leave their customers hanging. They are my investment broker too. Now that I know their values I should transfer all my funds to another company before they find another way to screw us.
So I have had AIG Life Insurance since 1992. About a year ago I received a letter from them telling me my then current life Insurance policy had reached maturity and that if I continue with them as my insurer my premium would go up from $9.80/month to $26.??/month but if I continued with the policy they would not raise the rates for another 5 years. So I signed on for the new rate at $26/month on the promise that the rate would not go up for another 5 years. Fast forward to a few months ago, I get a letter from AIG that read that my premium would be going up to $78/month!
Needless to say I was astounded at the increase especially since I was told it would not go up for another 5 years. So I called, spoke to a representative that didn't believe me about them promising that the rate wouldn't go up for another 5 years. Basically, they were calling me a liar....good thing I keep great records as I went into my AIG folder in my filing cabinet and right there in black in white was their promise that if I continued with them "that rate will not increase for another 5 years". Once I mentioned I had proof, the representative gave me some excuse about COVID and the current landscape changing. I told them that I was PROMISED in writing that my rate would not go up in 5 years. I never missed a payment. They were breaching a contract.
But anyway, I told them to go do stuff to themselves that I would not be paying the new premium and to cancel my account. The representative told me that my account was cancelled and I thought that was it. NO. A month later they deducted $45.17 out of my account, which was a weird number since it wasn't the $26/month I was paying before but it wasn't the $78/month they said they were going to increase. It was almost as if they didn't want to lose me as a customer so kind of re-evaluated their $78/month and decided to change it to this $46.17/month on the sly, like I would see that and say to myself that is a reasonable price. Thing is....I was promised in writing that when they raised my premium to $26/month that they wouldn't increase it again for another 5 years and I expected them to hold up their end of the bargain.
So I got online and a funny thing, my account status was cancelled yet the $46.17 they withdrew from my account said my account was current. So I had to call and yell at someone. I called and asked about why $46.17/month was taken out of my account after I had cancelled and the lady on the phone said the $46.17 was my new premium amount (as I suspected they were doing the very thing I thought they were doing and expecting me to pay their "compromise" rate instead of the $78/month they originally raised it to).
The problem was, the lady on the phone would not guarantee that rate would stay the same next year. So again, I expected them to honor the original $26/month for the next 5 years or they can cancel the account. And I literally had to keep saying cancel cancel cancel over and over because the lady kept trying to get me to keep the $46.17/month and I wasn't going to do it. I must have said cancel 100 times before she finally got the hint. I asked why the account wasn't cancelled the last time I said cancel and I wanted the account definitely cancelled this time and my $46.17 refunded.
So the lady emailed me a form to cancel and I filled it out and she kept saying information was missing from the form. I filled out that form like 4 times, they even made my son sign the form. On the fifth time, I told them that if they didn't accept the form and cancel my account that I was reporting them to the insurance commission because I never had so much trouble cancelling an account before. They finally accepted the cancellation form and refunded the $46.17 they took out of my account.
What I think happened here is they thought they had a sucker that didn't keep good records and when they tried to renege on the previous deal and my reaction was to completely cancel, they thought they were going to try to negotiate a compromise on the sly but I wasn't having it. When you make a deal you stand by it. AIG said they were not going to raise my rates for 5 years, that is in writing, and they tried to raise my rates and pretend they didn't make that 5 year promise.
They are liars. I will never go back to AIG. I even wonder about their ethical practices on the premium pay outs, like based on their shady behavior over this, I question whether or not they would have paid my beneficiary upon my death. How hurting are they for money that they have to lie to keep your business then try to sneak in a different rate after you cancelled your premium so you don't leave them? Stay away from AIG if you can, they are shady. I am giving them 2 stars just because I had them since 1992 but I question their ethics.
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I had 11 other insurance companies I spoke with today. They were all very friendly and willing to help on the phone. AIG was by far the worst. After following up on missing documents I had requested with another representative who was unclear and rushed, I was treated in an unkind way a second time. The second lady named Karen told me to wait 2-3 minutes to resend the specified form (simple task since I had specified it), but then left me on hold for 20 minutes when all she had to do was resend the form to my email I gave her again. Not only, did they put me through hoops and hurdles the first time, the lady picked up an attitude and abused her power. These people act like it isn't their job to help and be friendly both ways. We are not stupid. I was astonished by how horrible they were.... especially after receiving amazing help from 11 other insurance companies.
Our father passed away in September 2020. AIG sent a packet for us to process the death claim benefit. We are 4 beneficiaries who live in different parts of the world. I had to get everyone to send me their information. Bank account info, Social Security numbers for AIG to direct deposit the benefit payout. I spent 20$ to get a form notarized and sent the copy of the death certificate. After getting all our paperwork together, I faxed it all to AIG. First when I called to follow up 2 weeks later, They claimed they did not receive all the paperwork.
The fax I sent was verified completed, but I did not argue. 2 weeks later I called to see what was the delay and excuse was our father's death certificate was not complete, but I told them there was an abstract. They verified and accepted the certificate and apologized and said, "Please wait a few more days." Now a week and a half later, I was sent a check in the mail for the amount of $1.06. That was each of our shares. I called AIG to find out why this was the payment... We all believed we were each supposed to receive much more according to the policy.
AIG representative just said that is the payoff amount, my share and, "If you have a complaint, then write out a letter and send it by mail." We are all so angry and upset with AIG. The process, headache getting all the papers in order, getting forms notarized, and Faxing everything cost much more than the embarrassing $1.06 check they sent by mail. So now AIG has our Social Security numbers and Bank account information. This experience has made the death of our Father hurt even more.
I had them for quite some time and decided to close my account. I called and ask to speak with someone about closing my account. They advised me that I didn't need to close my account that all I had to do was not pay for a few months and the account would close itself out. I didn't care for that and insisted that they close my account, the lady said she cannot do that for the account will close itself out in a few months. Now 4 months later I still kept getting bills and I called repeatedly and was told each time that they do not close accounts that the accounts closed themself out. I've contacted another insurance company asking them if this was protocol and they told me no it was not. So to me they are a fishy company and I'm troubled by that because of the concern this will go against my credit showing an unpaid balance. I've never heard of this before and again I've spoken with several other people and they agree it's not good business practice.
Bought a policy for my Wife. Upon her demise, the funeral home filed the paperwork. Was told to wait 7-14 days for payment. After day 21, I called AIG and was told they need another form (they already got one). I personally faxed it in to them. The other reviews are correct. Payment delay must be their game. I'm not gonna play around, and contacted my state insurance complaints dept. and filed a complaint. I'm not getting stiffed. Losing my beautiful Wife was hard enough, without this added grief. May God have mercy on their souls, if they continue to operate as such.
Public service announcement: Do NOT under any circumstances purchase insurance from American General Life Insurance, also known as AIG. I haven't been as dissatisfied and completely disgusted with the customer service from a company in many, many years, and yes, I have dealt with Comcast multiple times. This is worse. I won't go into details because of privacy issues, but please heed my warning and tell your friends and family.
My father passed away February of 2020. All of the beneficiaries received the paperwork from AIG. We submit the paperwork back with the death certificate. We have been getting the run around, each time we call it's a different story like I have read on the past reviews. I am surprised how a company can take advantage of families during their time of sorrow and they appear to have no one governing this agency. I have called over 20 times and each time it seems the next representative is worse than the last one. I don't understand how this company is still in business. I also have and insurance policy with AIG and after this experience I will be canceling. I would not recommend this company for any type of insurance services. The company has ethical issues when you view all of the complaints and the company is located in a few states.
I bought this policy in 1991 for $300,000 paid $100 a month..It is what the agent said...As time went on I had to increase it to $2000 then $300 a month...It was a universal policy....Now at age 70 it would have taken a $1000 a month to keep it in effect...The gove has banned this type of policy...I eventually was able to sell it to a broker...But it was a terrible experience. The agent lied right to my face about it....It was an AIG product....Don't be fooled....Life insurance agents are not to be trusted.
I got the policy when I was 19 or 20, got worse service for the last year I had it. Insurance man ALWAYS came to house til the last one. Spent 4 months trying to catch him or meet him at various spots and decided to cancel, was told had to meet in Chattanooga to verify name change so I did that, then asked to cancel, signed documents and left. Started getting bills, in mail over a year later. I called and was told policy was never cancelled, they still have wrong name on file so asked, Chattanooga office closed less than a week after my visits mailed another form. 6 months later got another bill, was told I didnt notarize it? Was due cash but guess that's how they keep it. Not paying another nickel and was a very incompetent person who was in charge of my policy, would never do business with them again. Over 18 years of pmts gone....
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