Allianz Life Annuities

Allianz Life Annuities

 4.0/5 (127 ratings)
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About Allianz Life Annuities

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Allianz Life Annuities Reviews

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Jan. 6, 2023

My financial Adviser sold me this product more than 20 years ago. It was fine when I didn't have to do anything except paying them a service fee annually, until I had to start dealing with them, like taking an annual RMD. I faxed them a request 5 years ago and I never got a response from them. So after two days, I called them and after 30 min. wait, was told they never got it. So I faxed another one. Before I knew it, I received all two of them doubling the amount I needed. When I called them, and talked to at least 4 people, and they told me they would put this back into my account only for this time, like it was my fault. I ended up paying more on my taxes that year because the correction was not made until 3 years later. Each time I called, I would stayed on the phone for at least 1 hour and talked to 4-5 people and would be given only empty promises.

Every year when it is RMD withdrawal time I went through hassles after hassles, sending emails after emails and talking to one agent and another, and never got a straight answer. This year, after I withdrew my RMD, I got another one in the mail without my authorization, so I sent it back. No response for a month, so I sent them an email inquiring about it and asked them if they redeposited it into my account, instead I received a form for a RMD withdrawal again! I only have one request per year and can't even receive it without grief. VERY FRUSTRATING!!

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 5, 2022

Financial advisor sold me on an Allianz annuity as part of investment portfolio. $220,000 Annuity purchased. Paid commissions to advisor. Now after 8 years I want to cash out (no penalty now). But Allianz has just stalled and dodged and has not liquidated my annuity nor sent the proceeds. Nearly 90 days since distribution requested. Nothing but stalling. They are crooks in cahoots with the financial planning industry. Avoid!!! Allianz Life Insurance Company of North America.

13 people found this review helpful

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    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 26, 2022

    Evidently their business model is to collect life insurance premiums and make the claims process nearly impossible. I've been a practicing attorney for 20 years and I struggled with it. Had my 78 year old mother had to handle this herself, Allianz would most likely have won the battle and kept the 50 years worth of premiums my father invested to ensure her security. Collecting on one of his policies with another company involved one pleasant 10 minute phone call. It doesn't have to be this way. Allianz makes it this way.

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 8, 2022

    Horrible, manipulative, deceptive, crooked, company. Do not work with them. Very bad experience after 12 years. They take your money, Use it, they don't give you much back and when you want it, it takes 10 years to get it back, with penalties, etc.

    13 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 20, 2022

    Opened an annuity in 2001. Trying to make a partial withdrawal in 2022 and twice denied. First denial because signature did not match; second denial for no reason. AVOID!! This company has cash problems.

    15 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 13, 2022

    My husband and I purchased a Whole life policy in 1988. Although we divorced in 1998 we agreed to continue paying on this policy naming myself as beneficiary and our children #2 in the event of my death. It's clear, it's documented and has been from the moment we purchased the policy. John passed almost 5 months ago and my adult children and myself have yet to receive anything but more requests for bogus paper work. It's awful. I lost my parents 2 years ago and State Farm paid within 5 days. RUN.

    20 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 8, 2021

    My mom passed away August 18 2021. 2 months later we are still trying to get the insurance she paid for. There are 3 sisters..Mutual of Omaha had a check within 3 days (they rock) I have been trying for 6 weeks. They sent me a 35 page "packet." Mutual of Omaha looked up the obituaries and sent a check within 3 days. This company is stalling. We don't have a million dollar policy..they act like we do. This company will make it EXTREMELY hard on you when you are at your lowest. 35 pages??!! Ridiculous. Go elsewhere!!

    27 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 27, 2021

    There should be an option for 0 stars on this review. I cannot express how much Allianz has been the absolute WORST company to deal with. My aunt passed away last year - one of her investments was an Allianz annuity and I was among 4 beneficiaries. After having been issued a claim check that was over $30k less that my initial paperwork stated - over a year later, multiple follow-ups on my part, multiple changing stories from Allianz, they now say that the initial paperwork was incorrect. One lie after another! Do yourself a favor and avoid all products from Allianz. Your beneficiaries will thank you.

    22 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 16, 2021

    My advisor recommended buying their life insurance as an investment. After 5 years, it is worth less than what I paid. Stay far away! I am sorry I bought this, and sorry that I trusted my advisor. It's a scam!

    21 people found this review helpful
    Rated with 5 stars
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    Verified Reviewer
    Original review: July 29, 2021

    There is little to say. I bought this policy many years ago. It is an involved policy set up by my CFA. It involved premium paying, and loans of some type to keep the premium down. Today it is worth a lot of money, should I decide to cash it in.

    6 people found this review helpful
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    Allianz Life Annuities author review by Jim Blankenship

    Allianz Life Annuities was founded in 1896 and is backed by the large global corporation, Allianz SE. Allianz was listed as the 31st largest company on the Fortune Global 500 list.

    • Financial strength: Allianz boasts a high level of liquidity as well as large cash reserves and a strong operating margin.

    • High financial ratings: The major rating companies have consistently rated Allianz with their top-tier ratings.

    • Conservative philosophy: Allianz stresses their conservative investment philosophy that focuses on diversified risk and long-term results.

    • ABCs of Annuities: Alliance provides concise and clear education about annuities for consumers via the ABCs of Annuities web portal.

    • Online access: Registered users can access documents, submit forms, and check account values via the online customer portal.

    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.

    Allianz Life Annuities Company Information

    Company Name:
    Allianz Life Annuities
    Address:
    PO Box 1344
    City:
    Minneapolis
    State/Province:
    MN
    Postal Code:
    55416
    Country:
    United States
    Website:
    www.allianzlife.com