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Report: #1480079

Complaint Review: Allianz Life Insurance Company of North America - Minneapolis MN

  • Submitted:
  • Updated:
  • Reported By: Richard — Fairview United States
  • Allianz Life Insurance Company of North America PO Box 59060 Minneapolis, MN United States

Allianz Life Insurance Company of North America Premium increase of 368% and reduction of Accumulated Value by 450% with no notice of pending changes. Minneapolis MN

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Allianz Life Insurance Company increased my quartly premium payments from $128 to $472 and decreased my accumulated value from $2500 to $550 without any notice of the pending increase and giving me a chance to cancel the policy before the rate increase. 

I have had this policy for over 30 years with no changes, until now, and have over $14,000 in paid in premium payments.  I am 74 and it is obovious that this company is scrubing all its senior customers in order to reduce near furure liabilities.  I have asked the company for my last statement's balance of $2,500 and cancel the policy.  So far they have refused to do this with no rational explaination.  I find this an outragious and shoud be an illeagle business practice. 

This report was posted on Ripoff Report on 06/08/2019 07:36 AM and is a permanent record located here: https://www.ripoffreport.com/report/allianz-life-insurance-north/minneapolis-mn-premium-no-1480079. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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