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AIG Annuities Review


ConsumersAdvocate.org Rating: 4 / 5 (Very good)
6 Customer Comments & Reviews - see all comments
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AIG, short for American International Group, is a multinational finance and insurance company operating in more than 80 countries. AIG's main businesses are in general insurance and life & retirement products. Originally founded one hundred years ago by an American in Shanghai, China, AIG offers its products to individual, group and and institutional customers.

How is AIG rated?

Breakdown

4.0/5
Policy Features
4.0/5
Fees and Commissions
4.0/5
Reputation and Financial Strength

Overall Rating: 4 / 5 (Very good)

As one of the nation's largest sellers of individual annuities, AIG today fields about 2,000 advisers in its financial network, who also offer other retirement products. With regional and satellite offices throughout the country, many consumers are in proximity of a AIG financial adviser. They offer a full complement of annuity products, matching plans with the timeline and payment preference of the customer. AIG is currently a financially stable company with good ratings for its customer service and variety of annuities. We recommend that consumers contact their local agent or advisor to learn of the specific annuity products available in their region. Because of the variety of plans and policy features, consumers should always check the prospectus, performance, and rating of the annuity they are interested in.

AIG Annuity Features

Policy Features - 4 / 5

Conforming to the standards of the most popular annuity products, AIG offers annuities from five different classes: deferred fixed, variable, fixed index, immediate income, and deferred income. Consumers with income needs and those looking for tax-deferred growth can find a product that fits their needs with AIG selection of annuity products.
Annuity Type
Immediate
Deferred
Fixed-Deferred
Variable-Deferred
Equity Indexed
Purchasing Options
Insurance Companies
Independent Broker
Funding
Lump Sum
Series of Payments
Payment Frequency
Guaranteed Fixed Period
Lifetime Payments
Survivorship Payments
Withdrawal Options
Stream of Payments
Lump Sum
Annuity Riders
Death Benefit

AIG Fees and Commissions

Fees and Commissions - 4 / 5

On AIG's website and in their prospectuses, AlG does not disclose much data regarding its annuities' fees and commissions charges. For more information, consumers should contact a company representative or their financial advisor.

AIG Reputation and Financial Strength

Reputation and Financial Strength - 4 / 5

As of 2018, AIG is a financial services company that is in good and stable condition. With an 'A-' rating from the Better Business Bureau, AIG has shown that they have resolved the majority of customer complaints that were reported to the agency. AIG is frequently reported as one of the troubled companies during the financial crisis of 2007-2008. But many experts say that the annuities of AIG did not have the same dangerous exposure that other AIG assets had at the time of the crisis as the segment of its business did require a bailout.
Year Founded
1919
Standard & Poor's Financial Rating
BBB+
Moody's Financial Rating
Baa1
AM Best Financial Rating
bbb
BBB Rating
A-
Live Help 24/7
No
Live Help 24/7
No
Customer Support Hours
7am - 7pm, Central Time
Contact Methods
Phone
Email

Company Profile

Full Name
AIG Annuities
Company Website
Headquarters
175 Water Street, New York, NY, 10038

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6 Customer Comments & Reviews

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watzkelm
9/22/2023
My dad has been trying to cash out his annuity for 60 days. 8 phone calls later, they still have his money and are "awaiting managers approval" to process. This process we are told each time we call takes 3-5 business days. I requested the phone contact information to the manager so I could speak directly but was told that department doesn't have any phones. ??????? But if I leave my number, someone will call me back. Hmmmm.... with the phones they don't have? Is this a scam?? Do they not really even have my dads money anymore? Think very carefully before you invest your money here.


M
Michael
3/17/2023
Very difficult to rich annuity account. Several times call were transferred and cutoff. Two weeks ago I explain representative about incorrectly indicated as early distribution by code 1( for age 59 and less, I'm 78} in box7 of form 1099-R, should be code 7as a normal distribution. Representative Ida promise me correct form in two weeks , but it is not. Today I call again and hope receive the correct form soon.


judygrobin
1/17/2023
Been holding all day just to get on line access to account. Transferred, cutoff, or holding all day


promeseus1
10/26/2022
AIG has terrible customer service, and I would advise against doing annuity business with them. I recently made a call to the Annuity Service center on Friday 3:00 pm and they were having their end of shift party. It was that intense with shouting and yelling in the background that it was just about impossible to hear the agent. They were not willing to make a minor adjustment and had no problem-solving skills. YOU ARE ON YOUR OWN AND GET WHAT EVER


monkeyriderband
9/9/2022
I was the recipient of an annuity death benefit. AIG provided the incorrect paperwork on two occasions, including misstating the amount. It also take a significant amount of time (2 weeks or more) to respond to submitted paperwork. I would never want to subject someone else to these delays and errors. Avoid if you can !


R
Robert H
2/13/2021
AIG has become a poor risk. I have a joint and survivor annuity contract. When my wife died AIG informed me they were stopping my annuity until I submitted a six page form declaring her death. I submitted the form, but they informed me I had left Jr. off one of the lines for my name. (Never mind that it was correct in two other places.) When I had my attorney in fact resubmit the form, they claimed they never received it. When I had my attorney in fact resubmit again by certified mail, they said they would process it. For three months I've been doing this and they still keep saying they will "expedite" the matter. To add insult to injury, they informed me recently that as of... Read More



Top Rated
  • Marketplace service that compares top-rated insurers 
  • Fiduciary-led company 
  • No on-going fees
  • Offers Personal Pension Plans and income annuities 
  • User-friendly quote calculator
  • Helpful diagnostic tools and guides