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I took out a $250,000 accidental death or dismemberment policy 20 years and four months ago. I auto-paid every month for 270 months. Now I get a termination of policy letter saying "American General has decided to exit the group insurance marketplace." They've accepted well over $10,000 from me and yet now they are terminating my policy. I think I'll contact the Attorney General! They should offer a refund of premiums!
My mother passed recently. Her and my father had life insurance for 50 years. Their policies were bought out by AIG. Trying to contact and get these people to pay these very small insurance policies has been a nightmare!! I would not advise anyone to purchase any insurance from them!! Purchase from a local agent like State Farm etc...
6 years ago I was sold an accidental death policy by this company for $200,000. I used auto-pay, so this company has received their money on time for 72 months straight. I now have found out that at some point the policy was switched to a health policy that covered hospitalization only. This is not what I signed up for. In the beginning I filled out beneficiary forms, stating who would receive benefits in the event of my accidental death. Obviously I have not had a death claim, however, I am upset that the product I purchased and paid for faithfully for 6 years was switched to something else without my knowledge or consent to a product I neither needed or wanted.
My 102 year old father has an annuity with American General. We attempted to change the address of the bank that the annual check was forwarded to. Customer service had absolutely no idea of what to do and shuffled me through multiple people with 30 minutes on hold. Finally talked to a supervisor who requested several types of documentation. We provided all the documentation promptly. We placed a follow up call 10 days after American General received the documentation to make sure the change of address had been processed. Again, extended hold times until we spoke to another supervisor who stated that the documentation had not been process but would be within 24 hours.
We called back 4 days later, spoke with another supervisor and was told that both prior supervisors were wrong and that another type of documentation must be provided. We provided this documentation within 8 hours and had to wait another 8 work days to get the change of address process - after being guaranteed that the change of address would be processed within 72 hours of receiving the second package of documentation. This people have absolutely no idea what they're doing. Nor do they care. I strongly recommend that you take your insurance needs elsewhere.
My original life insurance policy was created in 1994 with AIG Life Insurance Company. I have paid my Life Insurance since 1994, without EVER missing a payment. Apparently AIG Life Insurance Company merged with another company... when that happened is unclear. About the same time I am guessing as the merger, my electronic payments stopping going through (or so they say)... My policy was terminated in June 2018.
After receiving the termination letter, I called American General Life Insurance and they say they need proof from my bank of the 3 electronic payments were processed by my bank. They also told me my last electronic payment they received was Jan 2018... (this is important info to remember). I faxed them copies of my bank statement, showing all 3 electronic payments, made to AIG and processed by my bank and paid.
Today I called them because I received a letter from them stating I needed to "apply for re-instatement" of my policy... I sent them 3 payments to the same address as the January 2018 payment... but yet they say they know they received the money but can't find it. The person in the PHILIPPINES that I spoke to was very pleasant but when I asked to speak to his supervisor or manager, he said he was it, that there was no one else I could contact. I just cannot believe that they are trying to blow me off like this. I have been paying on a policy since 1994 that is now worthless. I have filed a complaint with the Virginia State Corporation Commission’s Bureau of Insurance to find out if they can have my policy re-instated and the extra payments refunded to me.
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Updated on 12/06/2018: I purchased a Fixed Universal Life Policy over 20 years ago. I have been paying quarterly premiums since that time. I have an online account with the company, which, even though I use Automatic payments, I check regularly. I have kept my address, email, and banking information up to date. A few months ago, I noticed my quarterly premium was not deducted from my bank account. This is when the trouble began. I was advised that the company used all my cash reserve to keep premiums paid when they raised my premium with no notice to me. I began writing and calling, and no one could tell me how much my premium had increased. Just that it stated in my original policy (Over 20 year ago) that this could happen.
Although, the original insurance agent that sold me the policy told me my premiums remain the same throughout the life of my policy which is why I chose the company in the first place. However, he is long gone and numerous calls to my new agent have gone unanswered. After numerous calls, complaints, I am finally told that my premium has more than doubled, I am behind a sum of money, and if I wish to continue I need to raise my premium and pay the money. I asked why I was never notified, I received no response. I asked why the website was not updated to reflect this change, I was told they have no idea, and to this date, it has not been updated.
Fast forward to today, four months later, after I paid them all the money they asked for, paid the increased premium last quarter, etc. Once again, the recent quarterly premium was not deducted once again, they want more money... once again, no notice, and YES, once again, no one can tell me how much more they want. The website still shows that my quarterly premium is what it was over 20 years ago. I am now to the point where I have been waiting over three days for an answer.
I am fairly certain that this company is doing something that cannot be considered legal, and am fairly certain that there must be a number of people being scammed. I am a second away from walking away, canceling the policy and losing all the money I have put in over these 20+ years. Mainly because I am POSITIVE that my beneficiaries will never see a penny of this when the time comes because this company is definitely NOT ABOVE BOARD! My recommendation is to STAY AWAY!
Original Review: Had an issue with my policy premiums. Totally on them, as they never notified me that my premiums had increased and that they were taking all the money out of my cash value. Then they put a message in the document section of their website, instead of the message center and never notified me that the message was put there. If not for me going onto the website to update banking information. I would never have known that they were planning on terminating my policy. Started contacting customer service, first by phone.
The agent was arrogant and rude and did nothing to solve my issue. Then start using the message system on the website. Still no answers or assistance. At this very minute, after numerous phone calls and emails, my account still shows my old premium amount, I have not received an answer as to why they took my cash value without notifying me, and still have no answer as to why and when my premium essentially doubled. I will tell everyone: FIND A BETTER COMPANY!
My husband passed away on April 3, 2018, I filed a claim on his life insurance. They received the death certificate and claim paperwork on May 16, 2018. They told me it would take 10-14 business days to process once they had all the paperwork they needed. I called them after the 14 days and they said they didn't have his records from the hospital so I called the hospital and they gave me a number for them to call. I called the insurance company to give them the number and was told they received the paperwork the previous day.
So I again wait the 14 days and called them and was informed they still hadn't received anything from the hospital (they supposedly requested this information on May 16th but the hospital never had a record of any contact). So I proceeded to get the medical records and I faxed them to them on May 29, 2018. I again was told 10-14 business days, so I again wait the 14 days. When I called I was told that the claim was with the underwriters to be investigated so it will take even longer. When I asked why it took to do this all they would say was that I would have to wait longer. I will never purchase anything from this company again.
DO NOT BUY A POLICY FROM THIS COMPANY. I have been getting the runaround on a claim for 6 weeks. No agent or claims team to talk to, only a call center. A different rep each call whose info will contradict letters they send out. There is one reason after another as to why they will not process claim. For example, I have a letter stating they acknowledge receipt of an assignment for a specific policy, but tell me by phone they don't have the document. A insurance claim specialist at the funeral home is equally frustrated in lack of communication and confusion.
I called AIG on 7/11/2018 to inquire about a payment that I had scheduled on 6/30/2018 for 7/3 for my policy, needless to say the customer service rep proceeded to tell me there was no scheduled payment. I told her a printed a receipt for it and she totally ignored the fact. She sounded tired, totally detached, uncaring, rude, aggravated, and quite unpleasant to deal with. I ended making a phone payment with this person who should not be working at this position as she did not seem someone you would even like to have a conversation with!! This is not a company I would refer ANYONE TO.
We are simply trying to receive the small life insurance benefit after the death of my mother-in-law on a policy owned by my father-in-law, with which he is the policy owner and beneficiary. After sending in the claims paperwork and death certificate, and after they confirmed they received everything, someone in the Phillipines... YES, IN THE PHILIPPINES... is now saying my father-in-law now needs to send them proof that he is the beneficiary. He doesn't even know where his policy is, but wouldn't they have the policy he has been paying on for years??! Very unsettling and extremely unprofessional, bordering on FRAUD.
I would not recommend anybody purchasing an AIG life policy, as it seems they just sell them off to a 3rd party that looks to rip off the insured. Now it is getting to the point where we will be filing a complaint with the Insurance Commissioner. I would never do business with AIG. Another small policy with a reputable company was paid out in about 2 weeks! Taking advantage of the seniors, especially after the death of a spouse, is criminal.
American General Life Insurance Company Information
- Company Name:
- American General