Allianz

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8 Positive Reviews – 3 Negative Reviews
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Visit the Allianz Website to learn more:

  • Emphasis on both Fixed & Variable Annuities
  • 1,200,000 Clients
  • Employs over 155,000 people worldwide
  • Over 100,000 independent agents
  • Serving Clients since 1896
  • Second largest insurer worldwide
  • Second largest money manager
  • Twentieth Largest Company Worldwide
  • A Rating with AM Best

Founded in 1896 and based in Minneapolis, Allianz Life Insurance Company of North America (Allianz) provides annuities, and life insurance policies in the United States. Known for innovation, performance, and customer service, the company has become a leader in the North American life insurance industry. Allianz products are offered through a network of independent financial professionals. The company is part of Allianz SE, a global financial services group that is ranked number 20 on the Fortune Global 500 list of the world’s largest corporations, based on revenue (August 2009). Allianz SE employs nearly 155,000 people worldwide. 1

Today, Allianz Life and its subsidiaries form a large, successful company known for its innovation and performance. Allianz Life is rapidly taking its place as a leader in the North American life insurance industry. Allianz Life offers an extensive portfolio of value-added wealth management products, including fixed and variable annuities, universal life insurance, and long term care insurance for individuals. The company offers individual insurance products through over 100,000 independent agents, registered representatives and other financial professionals nationwide. 1

Allianz  experienced a backlash against their Annuity division at the turn of this century which culminated in several law suits and an expose in 2008 on dateline. The lawsuits centered around individual agents and groups of agents targeting senior adults typically between the ages of 75 to 85 years old selling Allianz annuities that were not suitable for their retirement needs. Allianz has since become an industries best practices leader with strong suitability guidelines that limit agents in the sale of annuities to senior adults.

Additionally as a result of earlier criticisms Allianz has launched an almost entirely new line of annuities that are innovative and consumer friendly. Several of the new generation of annuities Allianz has introduced are designed for the younger retirees and pre-retirees.

Citations

1 https://www.allianzlife.com/AboutAllianzLife/OurStory.aspx

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Comments

  1. I bought into a Allianz annuity in 08 with 350,000 using their bonus 8% payable over 10 years, monthly 2.5 cap based on S&P 500 and a .5% fee for a 10 year rider guarantee of 8%. That meant a annual grow rate of no matter what happens to the stock market. The last 2 years that market had a growth rate of 12.5%, and my account value has now approach $500,000. Since I am only 66 and will not withdraw until 70.5 age, the account balance could approach $700,000 and a yearly minimum distribution of 4.5% = $31,500. Hope this helps. I use an agent with concerns for my retirement.

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    3 / 3 found this review useful.
  2. Charles Schneider says:

    I would like to know if you have a Annuity with Allianz is their a way to track your accounts performance?

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  3. Hello – I am 53 years old and do not have enough for retirement. My financial advisor has recommended Allianz Life insurance with a monthly investment of $1,000 on my part. In 10 years based on either 4,8 or 12%, I was impressed with the return and distribution each year at retirement. Thoughts ? Thank you !

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    1 / 1 found this review useful.
  4. kaferlady says:

    I would never take out an annuity with Allianz again! I put a considerable sum of money into one of their endurance annuities over a year ago. You get NOTHING in return for the first year, and then the return on this was only 1.75%!! This money was previously in a CD which gave a return of 5%.I also could have put the money in my brokerage account and earned MUCH MORE! Allianz has your money for FOUR years, since the surrender fee is so high you cannot afford to withdraw the money for the first four years! The slick, golden mouth agents selling this annuity tell you there is a 20% bonus on your investment, but when you read the contract you find this does not take effect until AFTER you have had the annuity for TEN YEARS! This is not an investment, but a place to put money for your beneficiaries!! What a RIPOFF!!!

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    2 / 2 found this review useful.
  5. Allianz will ILLEGALLY deny you your claim! I came home from a trip to take care of an immediate family member who was suddenly diagnosed with cancer. I HAD 2 DIFFERENT PHYSICIANS FORMS DOCUMENTING THAT IT WAS NOT A PREEXISTING CONDITION, and they still denied the claim saying that think it was a preexisting condition! They say whatever they want and make you fill out all of these forms over months and harass your own doctors and then when the TRUTH is documented by physicians they IGNORE it!

    I’m in the process of filing with the Better Business Bureau and getting a lawyer.

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    7 / 7 found this review useful.
  6. Stan D says:

    I think Allianz is a good company. I have an annuity that has helped my cash flow in retirement. I don’t remember what my agent did but my income actually went up this year. I think this is a great annuity option.

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    11 / 12 found this review useful.
    • So sorry that you do not have knowledge of your agent’s actions and what you own. You financial planning methods are dangerous. You need to understand what you are buying.

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      1 / 1 found this review useful.
  7. MarynMaine says:

    I guess we are the lucky ones. The big recession has not affected our income or assets at all we placed the majority of our money approximately $700,000 dollars into annuities after we retired two of our annuities are with Allianz about $350,000 and it is just like my husbands pension for our income but even better because our two sons would still get most of our money when something happens to us like croaking!

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    16 / 19 found this review useful.
  8. Allianz is a not something I would even consider my money is in the bank even with low rates I still like the bank more.

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    7 / 42 found this review useful.
    • Over 800 banks failed in 2010. Allianz has been around since about 1890. I personally think that Allianz is a much safer place for your money. Look at some of the really big banks that have failed and a couple more that are in serious trouble.

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      5 / 6 found this review useful.
    • If you think the bank is a better option, you should probably look a little deeper into how well your backed and guaranteed. Investing your money in insurance companies is far safer than the bank. FDIC only keeps around about 15 percent reserve on every dollar invested in the bank. And yes, putting your money in certificates of deposit, money market accounts, and even savings accounts is considered investing. Also, the FDIC is a organization of the government. With this being said how safe do you feel about having someone backing your life savings that is trillions in debt? I for one would not feel to terribly comfortable with this.

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      5 / 6 found this review useful.
    • Glenn Taylor says:

      My bank pays me 0.15%. I would hope that an annuity would pay better than that. If you’re satisfied, with less than 1%, ummm, I don’t even know what to say.

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  9. Would someone tell me what the reason is for surrenders charges on annuities. We have an Allianz annuity and apparently we were not told about the surrender penalties if we take more than ten percent of our money out at any one time. We may not need the money but I feel I was decieved by the agent that helped us complete this annuity. Other than that, we are pleased with the annuity purchase.

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    20 / 23 found this review useful.
    • michael beiter says:

      its becuase most went to pay your agents fee!

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      4 / 12 found this review useful.
    • My 80 year old mother was roped into one of these annuities and tied up her money for 15 years. Allianz is a deceptive company and pays insurance agents 9 to 11 percent commissions to sell these deceptive policies. Most decent annuities surrender fees go down the longer you have the annuity. But the one sold to my mother never goes down. It is 12 percent no matter how long you stay in it. I talked to an attorney and he told me that the contracts are so difficult to understand that it took him two weeks to understand the contract and he is an attorney. Fortunately three years ago I was able to get my mother out of this annuity because the insurance agent who sold it to her was criminally indicted and failed to give her a free 20 day look at her policy. Less than 5 percent stay in with Allianz for the long haul so Allianz is getting rich off their annuites since they have such a high surrender fee. The policies they sell are definitely deceptive and they have made billions of dollars since they have created them. I wish I had some advice to help you get out of the annuity, but If you have proof that you were sold it in a deceptive manner you might be able to get out of it, but it won’t be easy. Don’t know if you were aware of it, but there are several class action lawsuits against Allianz for deceptive practices. Sorry you were duped.

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      18 / 22 found this review useful.
    • I agree with Jenny, Allianz Life was very deceptive when they sold me my variable rate annuity. Never were surrender fees discussed, or the fact that upon my death Allianz gets the remainder of my fund, not,my children!

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      1 / 1 found this review useful.
  10. Thankful Florida says:

    We do not have a lot but when we retired I had about $300,000 in a 403b annuity and I moved it into an Allianz annuity over 6 years ago and it has worked out well considering some of our friends had to come out of retirement since the financial crisis hurt them so bad and they still have not recovered. We feel a little guilty we thought we did not have very much but it is more than enough for us to stay retired. Thanks Allianz!

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    16 / 18 found this review useful.
  11. Doubter says:

    I was told by a couple of different agents (salesmen) that I was going to make a mistake using Allianz annuities. Even the internet said some bad stuff. After my advisor helped me understand that Allianz would be able to solve my particular financial concern (inflation) I listened to him and I think he was right I recieved about a thousnd dollar increase in my annual income this year and my cash balance hardly went down at all. So far so good.

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    13 / 15 found this review useful.
  12. Helen & Don says:

    We retired about three years ago my husbands and my 401k had grown to a fairly large amount combined we had over $400,000 we have never been sophisticated investors but we are good savers our 401s were in those target retirement funds and had done well over the last twenty or so years. We did not feel that in retirement we could risk being in the market. After studying the alternatives we decided on Allianz annuities we have never regreted it our money has held steady no losses at all and our income is guaranteed for life. We have a income rider so our cash balance can still go to our children and grandchildren. We are truly pleased with Allianz and our decision.

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    13 / 14 found this review useful.
  13. If I could do it all over I would not put my money into the Allianz annuity I acquired over two years ago the annuity has done okay however I am now in a divorce and if I have to cash it out for the money it looks like I will be needing. It will cost me over $12,000 dollars in penalties and Allianz won’t wave the penalties either.

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    8 / 20 found this review useful.

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