Allianz Life Insurance Co.

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• Minnesota Charges Allianz Life Sold Unsuitable Annuities to Seniors --- • Consumer Complaints

Lisa of Coral Springs, FL March 11, 2010

I have had two Allianz insurance policies, a traditional IRA and Roth IRA since 2004. At that time a crooked accountant who works as a representative for Allianz got me into these annuities without detailed explanation of what I was getting myself into. He basically was looking out for his own self-interests as he sits in his log cabin in the mountains of North Carolina. There wasn't any mention of penalties, fee's, early withdrawl problems, etc. I did not have a clear understanding about these products, nor did I sign a statement of understanding claim.

I was completely misled about the product I got into. I've been trying to liquidate my money for quite some time and finally they liquidated it after continuous efforts and communications. Although I got some of my money, some of it still remains with Allianz because they are refusing to liquidate the remainder to me. I have not gained one penny of interest since inception. They refuse to give me the remainder of my money. This is money I first contributed five years ago. I've been constantly emailing back and forth with several employees, first Becky H who did absolutely nothing and would never respond to my emails or phone calls.

Next, I requested to speak with her supervisor who was Barbara K, another useless figure who demanded documents from me and also did not return phone calls or emails. I had to continually contact her and she would give me the excuse that she was too busy to get back with me because she was helping other customers. I requested her supervisor and finally spoke with Marty V today. He had nothing to say other than I'm sorry you feel that way and we've come to our decision, case closed. I'm not going to rest until I get my money from these crooks. They made promises of these bonuses, however, come to find out that was false. There was never any mention of surrender charges or fee's for early withdrawl until I wanted to withdraw my funds.

There was in fact several documents that were forged with my signature. An internal investigation by their firm was done and they found nothing wrong. These are serious allegations and yet it was completely shrugged off like nothing ever transpired. I'm angry and beside myself about how crooked this company is and how they operate. There were and are many class action law suits against them if you just google Allianz class action law suits. I'm apalled that they could get away with this corruption.

Michael of Sydney, Australia January 19, 2010

I was driving home from work, when another driver didnt check his blind spot and merged into me. We were both allianz customers so both of our claims were processed through them. I took my car to Allianz's prefered dealer. It is still there after 7 months in the workshop.All that needs fixing is the side mirror and rear quarter panel.After calling Allianz for the 3rd time in 7 months they now are telling me its my responsibility to take the car somewhere else and its between me and the repairier, like every other company wipe their hands of the blame and put it on the consumer. They wont reimburse my car for being off the road for 7 months as now its my fault.

James of Oakland, MD September 9, 2009

ALERT: Allianz Life Insurance is ripping off people! We purchased a Fidelity Union College Master life insurance package in 1969. Fidelity Union (Texas) was purchased by Allianz several years ago. Allianz has been draining the cash value and increasing the "management fee" such that the premium increases by 1000%! They just notified us that the policy has been cancelled -- If you owned a Fidelity Union Life Insurance policy that was taken over by Allianz, they have, in effect, flipped the original policy to a term life insurance policy that is worthless! I have just turned 62, and magically, they have simply and consistently stolen and robbed the policy of any value. BUYER BEWARE!!!

roger of moreno valley, CA August 25, 2009

Sold us an annuity without discloing to us the fact that it was two-tiered,could not be taken back in a lump sum and would have to be annuitized.There would be a large penalty for not annuitizing it and taking the lump sum

Nita of Cartesville, GA July 28, 2009

The above group sold my father two very expensive annuities and tied his money completely up. They were over 300,000. My mother just passed away at 81 years old. My father will be 85 in Sept. And is in very bad health. My father cannot access his money. If he was able to withdraw it there would be a LARGE penalty. They told him if he needed long term care which he is in, then he could draw the money out to cover the cost. They did not explain the penalty.

And they wrote the policy that he would have to live to be 94 years old for it to be any benefit. He and my mother were already in poor health at the time they wrote the policy. Now he has to live as a pauper when he has 300,00 he cannot gain access to without possibly loosing 100,00. This has added more stress and worry to him. Feeling like he was taken in his old age.

Sylvia of Avondale, AZ April 25, 2009

In November 1990, my husband and I took out a Flexible Premium Adjustable Life Policy from LifeUSA Insurance Company. Our policy shows our Planned Periodic Premium at 94.00 per month. On July 1, 2002 LifeUSA Insurance Company completed a merger with Allianz Life Insurance Company of North America. Until October 2008 our 94.00 premium has been paid on a monthly basis, via an automatic withdrawal from our checking account. After I realized that the December 2008 payment had not been deducted from our account as well as the November 2008 payment, I contacted Allianz by phone and was told something to the affect "there were not enough funds to cover the monthly cost of the premium". I asked what she ment, and she told me that the monthly cost of the policy was not the 94.00 as our policy stated, but was considerably more because of the cost of the riders.

Nowhere in our originally policy does it state that there will be a cost for riders nor did we receive anything from Allianz stating that the cost of the policy was changing from our originally contract. During this phone conversation, I was informed that in order to reinstate this coverage, I would need to pay over 2,000. I pulled out my policy and reviewed it completely looking for the "riders" that I need to pay for. Again, the contract states that the monthly premium is 94.00 and does not state a cost for riders. As with our car and home owners insurance, we receive a specific letter stating there is a change with our annual or monthly premium. Allianz did send out an Annual Report showing the Planned Premium as still being 94.00. In February 2009 I wrote a letter to Allianz expressing my concerns about our policy being cancelled without my being notified. In April I received a letter back from Allianz stating that the monthly mortality cost charges change each year based on the insured's age and that each month the cost of insurance and expenses charge is deducted from the accumulated value. The letter also stated, "Since I did not receive a grace notice, the grace period is being extended at this time. And in order to reinstate this coverage without underwriting, I need to remit premium due of 2,290.61 by May 10, 2009. This is the amount due based on the current cost of insurance of 293.00 per month, plus the negative cash value at the time of lapse in November 2008. If I elect to reinstate, 293.00 per month would be the annual renewable term planned premium until the next anniversary in November 2009. Why, over the course of the last 19 years did I not receive a letter from Allianz stating that I need to be paying more to cover the cost of the policy? Why did the original contract not identify the cost of the riders and the projected increase in cost? When we took out this policy in 1990, we understood that the premium - the cost of the policy for my husband and myself- would be 94.00 per month.

June of Cedar Park, TX March 17, 2009

June of Cedar Park TX (03/17/09)
1) took a flight Aug1st 2007 austin to Chicago. Booked through United. Flight was excessively cold in the middle of the plane. Most of the people in the middle complained about the cold. The Flight A. stated it was an on going problem with this type of plane they had never been able to regulate it. My 5year old was shaking F. A brought hime a blanket fromm first class and stated they forgot to put blankets on today. I continued to freeze and asked several time for something to keep me warm as I only had t.shirts and shorts as they had taken our luggage at the doorway. I eventually became numb in my hands and feet.

Once we landed I struggled to walk down the steps into the terminal, once inside I collapsed, woke up in the Er I had suffered a concusion that led to a siezure and had several other injures, swelling and sever bruising and possible fracture to my r arm. My older son and the hockey team were looking for us, they had no idea how we diassappeard In the second incident I had tickets issued by UA fying from Washington to austin Jan 10th 2009. The plane was freexing the captain kept apologising along with the flight attendant. I asked a a card it is marked United but once again it was operated by Mesa.

Even though the captain stated the gauge was showing 80degrees it was obviously mechanical failure. Once again I was sent to N. Brogan at Allianz, she told me there were no complaints and no paperwork showing mechanical failur. I can for forward the card I was given Allianz and Ms. Brogan have mede this as difficult as possible I asked MS. Brogan if they were responsible for the second flight she told me to get an attorney and find out. I think she hopes I will run out of time as I need to get the subpeonas and start a claim prior to August 1st 2007. I am exhausted with being run through United, US airways, America West, Mesa and now Allianz. I am dissapointed that they will lie. As this is clear. I am willing to take an oath that this did happen. I have kept all the correspondance with them from the begining. I was trying to be nice about this. I see that they prey on people like me. I now really need help.

Loss of memory due to concussion. Loss of driving ability for 6 months, on going issues due to the concussion. Body disfigurement due to the severity of the fall,R. thigh and R arm. Younger child will not fly alone and is very nervous if I stumble, he saw me passout then start to roll my head and eyes and then blood poured out my mouth, He was then told he may have to go to a foster home until they could find someone for me. He is now very nervous. It has had a long lasting effect on my family. We were going to Chicago to watch my older son play in the junior olympics in Hockey, he had won the speed skating contest the week previously in Michigan, at the last minute I bought two tickets at 800 a piece. He was so upset he only played a little. It was a disastrous episode.

On the second flight we had coats gloves scaarfs, I had been to see a doctor in another country to help me. I had severe back pain initiated by the cold I called my MD once off the plane it is charted. Yesterday I received another 5k in bills realted to the Chicago incident. It is depleting me of my savings and my ability to work haas diminished significantly.

K.s. of Bangalore, OTHER March 7, 2009

K.s. of Bangalore, India (03/07/09)
Both myself (age 67 years in 2003) and my wife (age 56 years in 2003)approached Grant Perry for worry-free investment of my post retirement 401(K)funds and some amount in our banks. We explained our needs and the time frames when we needed the money which included moving to India, building a house, buying a car, spending on our daughter's wedding etc. We were promised lumpsum returns at the end of 5 years, no lower than 3% but no higher than 10%. When we received the documents we realized that the policies were for annuities over 10 years and so, we protested.

Grant told us that Annuity was only the name of the scheme and that we will get paid lumpsum after 5 years. After 5 years in 2008, when we started getting distribution in annuities, he tells us that annuity is good for us; we can still get lumpsum payment if we want but at surrender value (which is lower than annuitized value and comes out lower than the invested amount - obviously a loss). We had no recourse except to accept it.

We were looking forward for a nice kitty by 2008 so that we could comfortably spend the money on house, car, wedding etc. But with this annuity, we had to drastically change our plans. Also, we are suffering losses due to lumpsum withdrawals. Sitting in India, we cannot even fight in the courts.

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