Allianz Life Reviews

We are having a heck of a time receiving our money back from Allianz after deciding to go a different direction with our investments. No legitimate explanation has been given other than a "technical issue on our end." 5 to 10 days has turned in to almost a month with no end in sight. This experience has put allianz at the bottom of the totem pole for me.

I was with this company for 10 years, the annuity contract matured last month and my Financial Advisor from Edward Jones and I were discussing possibly merging the annuity with Allianz with my Edward Jones account. My financial advisor spoke with their representative and asked what my rate of return was for the previous year, the response was zero! Yes, zero money was made on a quarter of a million plus dollars! We confirmed no penalty or fees to withdraw that money and merge with Edward Jones. They mailed me by USPS a check made payable to me and Edward Jones to my home address and withheld $26,000 and sent to IRS!!!! This money was to be rolled over! We called them, but they were unwilling to work with us to stop paying the check, reissuing and stop the withholding! They are horrible to work with!

I do NOT recommend this company. After the death of my father they decided who received his benefits out of the beneficiaries. It doesn't matter who you list as first beneficiary. And if you have more than one account they may allow beneficiaries to be paid as requested upon death and not other accounts.

Allianz is an absolute scam. Do not get hustled into investing with them. We spent months deciphering my aunt's account with them after she passed on. By the time customer service had finally figured out my claim I got half of what I was supposed to receive over 5 years. This company should be shut down immediately. High pressure sales preying on the elderly.

My parents have paid into the Allianz Long Term Care program for decades. My mother is currently getting benefits from this policy to help cover costs for her long-term care. We are now going into the 2nd year of getting payments and now we are beginning to have problems getting claims paid. The facility billing person and I get no help from customer care, forms are being requested that were never requested before, invoices have to be submitted multiple times because Allianz claims they were never received. My mother needs these payments to continue her care. I now have to call Allianz monthly to make sure the paperwork is being processed.

Terrible in every way. Got the claim form 2 months after mother died. One month later still waiting on payment. Every time you call you are jerked around by someone who is not even in the USA. Overseas call center with people who speak poor English. Never are able to tell you anything. Say you will get a letter regarding the question but no letter ever comes and no money comes either. It’s most likely a scam company.

Allianz is the worst company to deal with. I have multiple contracts with them and someone else’s name was put on all of my contracts without my knowledge. I had to go through identity fraud, police reports, etc and found out it was an “error” in the company. They ignored my phone calls daily for months. Someone who gave me a false name admitted it would get changed back to my name, but no apologies. Now I am not getting any mail. When I call I am assuming they have my correct address. The latest is the data breach. I was on the line for 2 hours because I did not get any letter notifications. I was connected to a woman who could not speak English well and said she could not find my account after I spelled my name twice using a like Apple, b like boy. I regret and warn others DO not put any money with this poorly run company. RUN FROM ALLIANZ.

Allianz 222 is a complex policy with meager (very low) income growth. Accumulated value, PIV, and other items are difficult for many to comprehend. I see people blaming company, agents, seller, and intermediary for trouble with this policy. However, this particular policy is like a "Roach Motel", once you are in, you are stuck. My neighbor used to be an insurer actuary mathematician and he often suggested that process to get money from the policy should be started at least a year or two before policy period is over and payment schedule should be well established before policy period (10 years) is completed.

Opened up an annuity 5 years ago and was duped into their "benefits' but have been getting <1% earnings YOY despite being pressured into thinking the returns would be higher. Then our agent admitted that the returns on Allianz Benefit Control Annuity was earning far lower rates than expected and REALLY didn't appreciate that they failed to alert us of this fact. Now I'm trying to transfer our money out and have been TRYING to do this for the last month and they keep giving excuses and various reasons to deny me from being able to do so. This is utterly frustrating and I'm so over their horrible customer service and product quality. DO BETTER! Also, their annuities are just WAY too complex and their agents are probably making more money from my annuity than I am so buyer beware!

My former wife was covered under a STR on my life insurance policy that was purchased in 1990. She passed in March 2025 in Vienna, Austria. After 4 months we were able to get the death certificate and promptly expedited it and the claim form to Allianz. I just received a letter from them stating they require another document showing the cause of death because it happened outside of the US. So Allianz, what is the relevance of that requirement? She passed away in her bed and was found days later. Why are you requiring an unnecessary paper that will take months more to secure? The premiums were paid for over 35 years. You have a moral obligation to promptly pay this claim so her 3 children can have closure.

For 8 years my request to have a qualified charitable distribution taken from my IRA annuity has been mishandled. From wrong amounts, date changes and new forms, I have yet to receive what I want... 1 check for my charity and and the remainder of the RMD for me.

This is an extremely shady company. I would run as far away as possible. They basically hold people hostage and bury your requests in nonsense making every excuse for you to repeat your requests over and over until they hope you give up. Dealing with them has been a huge nightmare and waste of time. Wish we were never referred to them. They basically are in the business to give you the run around.

I owned a Allianz Annuity 222. From 2014 to 2021 I had a return of 27.6% that is a 3.94% accumulation return per year which contributes to surrender value and death benefit. From 2021-2025 a 0% return for surrender value. Apparently the representative from Alliance that are there to help select index options prefer not to steer you in the right direction for the proper and best returns for the clients. Bloomberg US Dynamic Balance Index which gave me 0%. But my understanding CEOs during that period of time did quite well for themselves.

I spoke with Rohit today. He was extremely helpful in guiding me through my annuity and also sent me the documents about them. I made sure to get his extension so I can utilize him if I need any more assistance.

While my complaint relates to long term care insurance Allianz no longer sells, they still include it in other products and my experience hints at the overall unethical and careless business practices of Allianz. They sold our family a LTC policy with an extremely long 180 day elimination period. Our family paid over $7,000 in on-time premium payments over 15 years only to recieve ZERO benefit from the policy. During the 15 years, Allianz made claims processing errors that resulted the failure to correctly process claims when LTC was needed and cleverly avoided paying for any care whatsoever. In the end, 180 days was far too long for a terminal patient to wait for a benefit they'd paid thousands of dollars for. Responses to our requests for a waiver were met with cold, regurgitated, impersonal, and unempathetic responses or no response at all. I urge potential customers to choose another company. Allianz does not deserve your business.

So dissatisfied with this company. We have been trying to get a live insurance policy paid out for over 3 months now. Customer service has been rude and unhelpful. Would not recommended this company for anything.

Allianz is the oldest, largest and highest rated life insurance company in the world. I have been dealing with them for the past 8 years. They have been nothing short of exceptional at every turn. All of these negative reviews are a result of user error. Call your advisor and get them to help you instead of blindly calling a massive insurance company with zero idea of what you are trying to accomplish, and then you leave a bad review. Be better.

I submitted my documents to an already existing (and approved) claim and I have received zero communication from Allianz other than the initial email, stating it would take 7-10 days. That was 1 month ago!! I have emailed, and called several times. When I email, I am told to call. When I call I am told to contact them via email.

Allianz is really good at collecting money, not so good at disbursing benefit payments. They keep messing up payments to my mother who relies on the benefit payments to pay her rent. She is now owed 3 months worth of payments and speaking to customer service is like talking to a wall. The next call they get from me will be from my attorney.

Paid into the policy for three years without a single missed payment. Need some of the cash value, well I'm getting the run-around my money. Not easy to request and receive monies when the need comes. Not good at all!

Allianz is miserable to deal with. My father was sold a terrible Allianz annuity policy and it took MONTHS of calls and paperwork to straighten it out and we avoided a huge penalty by only days. After my father passed away it took another couple of months to get the death benefit and they refused to pay in a lump sum, so the beneficiaries must accept annual payments for ten years. I hope they are in business in ten years. They are just awful. Do NOT recommend this company.

I agree with the other reviews of Allianz. It is horrible. Do not ever give them a dime. We've been trying to collect the money from my brother's account after he passed away and their call center overseas wasn't any help. They were supposed to send us paperwork, but they never did. I had to figure out that they actually do have a way on their website to fill out the paperwork, but they still haven't sent us anything. Compare them to Fidelity, where we received the check within 2 weeks. This company is not legitimate.

Company is basically a scam. I have been trying to get a client's money back for over a year. They just give you the runaround. Call center is overseas and it's a horrible experience. Court ordered the separation of an account due to divorcee. Company will not honor. Says fill out x paper form and then months later says no that's the wrong form, fill out y.

After having been shot down by their contracted financial advisor back on Sept 5, 2024 from a BIG misunderstanding w/o resolving it, I reached out to Gary R., Allianz Sr Compliance Specialist, (contracted with prior financial advisor), as he didn't do much for me when he mislead me as to finding me another financial advisor and accused me for stirring it when I was trying to fix the issue but their folks instigated it initially w/o proper clarification what was really going on there.

I am so disappointed at Allianz! Don't buy their product. I was told by many producers not to go for allianz, only after I purchased the policy. Now I am suffering: a simple task of getting online access was taking forever, after many calls, after their IT dept promised, still as of today it's not resolved. A company like is not capable of taking care of clients, hard to believe their integrity when it comes to money.

Have been trying to get my deceased mother's money from an annuity listed in her trust for almost a year. No matter what paperwork I submit they say it's not correct. Beginning to wonder if they even have the money.

Idiotic customer service. This company does not only rip you off with their annuities and their penalties, their delegation process allows approved delegates to make fund transfers and change allocations but cannot confirm the mailing address. What kind of brainless morons run this place?

I bought the 222 from Allianz based on their ability to survive. I believe a serious event could disrupt my income and I’d have a tough time staying warm in cold Seattle winters. I hope it doesn’t match my gloomy concern but if I need it I believe I can count on regular payments!

This is a awful company with even worse "Customer Service". They use every trick in the book to avoid payout. I have been trying for three months to get a cash surrender payout. First they say, oh no problem, just fill out the form and we will pay you within a few weeks. Well that was three months ago. First they couldn't find my policy, they they have the wrong SSN, now they are requesting a new SSN certification form. This form is not online, they have to send it to you. Then you wait again. This feels like a major SCAM. I have paid in for 32 years w/o a single missed payment. This is how they treat you! Stay away from them.

They made a series of mistakes with a very simple distribution request that caused extraordinary stress on top of the normal stress of end of life care for an aging parent. For clients who have a power of attorney handling their affairs, please do not expect needed, urgent distributions for medical care to be handled in a timely manner. They were fast enough about adding me as the power of attorney on the account, giving me false optimism that this would be a smooth process. However, once they were faced with the reality of cashing out money they had held for decades, they threw obstacle after obstacle in my path, including cancelling the whole transaction because they did not understand the power of attorney form, and then by not following the distribution instructions that were very clear on distribution form. Buyer beware.