Allianz Life Reviews

I am in the process of dealing with my father being sick. I’m trying to apply the life insurance. He bought through Allianz. He had three other policies similar to this through the two other companies. The other two I have not had an issue with but Allianz drags their feet and loves for you to do extra paperwork. If I could give them a zero, I would.

My experience with Allianz annuities has been extremely negative. And as you can see from the numerous other reviews, there's company has a reputation for being one to avoid. I’ve had two separate accounts with 10-year terms, and both have performed poorly. What was presented as a stable, long-term investment ended up delivering very little return while tying up my money for years. The biggest issue besides not making any money, not keeping up with inflation, over promising an under delivering, is how difficult it is to get out. These products come with steep surrender charges, which effectively lock you in—even when performance is disappointing. By the time you realize what’s happening, your options are limited.

I got an annuity with Allianz through Russell ** with Bankers Life. I regret ever even speaking to Russell. Great sales pitch, but once you're in it's the worst company of all time. It's like they're living in 1999 and just put their first website together. It's near impossible to actually use anything online, and you end up having to email and call and stay on hold for hours or days and STILL nothing gets accomplished, so your only interaction with your account ends up being through mail. Like literally the US Postal Service mail.

It has been extremely difficult to work with the Allianz Life customer service just to get a copy of a 2025 1099. After 7 phone calls we still don't have it. We have submitted the requested paperwork to update the outdated phone #'s so they could verify us on the phone as well as update the address to the physical address for mailing to. We have waited the required processing times for Allianz to get it in their system. Then waited an additional 10 days once it was in their system before they said they could send it. We still don't have it. They advised us to set up online access which we did only to finish the process and get an error saying our type account did not qualify for online access. That would have been nice to know before we went through all that. Since we can't get online access we are now in the 2nd 10 days of waiting to request a copy of the 1099. Frustrating does even begin to describe process.

I have had my annuity with Allianz for four years to help provide for my retirement. My rep sold me the product as a plan that would have an 18,5%bonus and solid returns in monthly income for the future. The plan results have been a disaster with the initial investment losing value every year. Even if the plan results in a higher return the income payouts are much worse than putting my money in a CD or money market. The company might be solid but the customer gets screwed.

Horrible and irresponsible. Cannot handle a simple refund promptly and fairly. They had reached out regarding a claim I was entitled to for a refund. I had followed all steps and they simply sent the letter back with no instructions.

Company has and continues to do auto draft from account monthly, but not one customer service representative can locate policy. I have spoken with seven reps thus far. Each representative has been provided policy number from letter received recently along with name, date of birth and social security number. Still no policy found. Attempted to create online account but again policy not found. This policy has been religiously paid for over 30 years. Time to contact Better Business Bureau for assistance. Would never recommend this company.

If I could withdraw all my money I would but they can't even do that correctly. I have never experienced WORSE customer service in my life. This company is inept. There are no supervisors to speak to. I think all the "operators" have a script and are unable to handle problems.

Allianz would not release the funds from my fully matured Variable Annuity claiming that the signature from the initial opening of the account and the current request did not match. The company is requiring me to do a certified signature with a financial institution to be able to release the funds that are rightfully mine. Allianz will go to any extremes possible to not release funds to the rightful owner.

I've kept my money in Allianz for years due to an annuity, but I plan to withdraw it on December 10, 2025 because of poor customer service. During a call on November 21, an agent doubted my identity based solely on my voice, placed a fraud alert without further questions, and did nothing to resolve the issue. This was disappointing and raises concerns about how they handle customers. This is a large company and in this day and time should not have such prejudices. Take your money elsewhere!!!!