Irene B Ndm

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Verified Reviewer
| map-marker Chicago, Illinois

Unable to Receive Partial Withdrawal

For 2 weeks have been trying to receive a partial withdrawal from a 22 year fixed annuity and all we get is excuses. AVOID Allianz Life. First, they said signature did not match; now they say there's a tech issue with no date as to when they will send us our money. We filed complaints with BBB and States Attny.AVOID
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Cons:
  • Unable to get money back

Preferred solution: Deliver product or service ordered

User's recommendation: AVOID

Anonymous
map-marker Minneapolis, Minnesota

DON'T BUY FROM ALLIANZ LIFE

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I have been a policy holder of Allianz Life now for over 10 yrs. I have been in need of some of the funds from my accounts now for over 60 days. The company reps continue to promise / guarantee me that they will get my funds sent out yet to date and after FIVE attempts, I STILL DO NOT HAVE MY OWN MONEY! I hope that no one else falls to their scams and that they tell all of their friends what a bad company this is to try and work with. Today I have been on hold for over an hour, hung up on six times, and now back on hold being told that "all representatives are still busy - your estimated wait time is more than 10 minutes (now been 17)" I don't know what it takes to get my money out of this company but I can guarantee you when I do, if ever, get ahold of a human, I will pull ALL OF MY FUNDS and then sue them for the time, frustration, interest, and any penalty that they try to slap me with. This is the worst company I have ever worked with and let me tell you I have worked with many over my 90 years on this planet
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Loss:
$2500
Reason of review:
making a withdrawal

Preferred solution: Deliver product or service ordered

2 comments
Irene B Ndm

Same here.

Guest

FOLLOW UP

I FINALLY found someone at the company who was willing and able to that charge of this issue and has finally after 8 weeks managed to solve my issues - THANKS LISA!

However still beware the issue still may be one you might encounter if you work with them

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Anonymous

Allianz Life Insurance Company Of North America - Annuity Review

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Allianz obtained a large amount of my money that they are holding for a period of 30 years. I have been told that this was a 10 year annuity that would pay 7% per year over the ten year period thus doubling my money during that period of time! Come to find out it is actually a 30 year annuity and after the 10 year initial period The annuity pays 0% interest for the final 20 years of the annuity! The company refuses to make the situation right for me the customer after I was lied to by the salesman! I have one word for anyone who is considering purchasing an Allianz product! The people that I don't with in their corporate office were rude, condescending and totally uncooperative! Just for a historic perspective people should know That Allianz was Hitler's insurance company during World War II! MetLife stadium where the Giants and the Jets play in New Jersey was going to be named Allianz stadium until the powers that be found out about the Hitler connection and probably canceled the contract to name the stadium Allianz Stadium! Do some research about this company before you ever purchase anything from them! If you were still considering buying something from this company my one word of advice would be – DON'T!
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Anonymous
map-marker Plantation, Florida

Allanz Life of North America

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I have (2) paid up Annuity with the above Company. Contract # 7008**** and 97. I put in 14,000.00 ten years ago. They now say that my Surrender Value is $24,716.78 for 999 when the Accumulation Value is $27,142.63. I feel this is a disgraceful amount after 10 years. I would like to find a way of Annuitization of this Contract, but obviously this idea is VOID. Can you advise me on this situation. The $27,142.78 is payment toward my retirement home, which is moot with only small payments. PLEASE, HELP ME. Please. Carol A.Cunningham
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Loss:
$27143
Cons:
  • Decieving me in presentation
Reason of review:
Not as described/ advertised

Preferred solution: Full refund

2 comments
Guest

You basically doubled your accumulation over a 10 year period? If you would have played the stock market, it could have been better but it could have been a lot worse.

Guest

What kind of return were you looking for? Based on the surrender value, you earned 5.85% per year, not bad considering the hideous crash of 2008. Most people are still licking their wounds from that, trying to get back to where they were in 2007.

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Charles R. Gallagher, an attorney and managing partner with Gallagher & Associates. His practice focuses on insurance litigation, foreclosure defense and consumer law.

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