No dividend for E6 & Below?

[SubSonar]

It's great to see that USAA has paid out more this year than any other year in rebates, dividends, etc. So, with an organization so focused on it's military members (active and vets), how is it that a dependent is eligible for a dividend check, but I, as an honorably discharged veteran, am not...simply because of the pay grade I seperated from the military at?

How do dependents get prioritized over active duty and veterans?

[Jessie M.]

It has to do with which insurance you're eligible for. Some people are insured by USAA directly, some by subsidy companies. This is based off of risk pool, as far as I know. For instance, if someone has a lot of accidents on their record they can't get USAA insurance directly. It's stupid, but I know that junior enlisted are automatically put in a higher risk pool. However, I heard that only applies to E-4 and below, not NCOs.

Basically, the disbursements have to do with subscribers accounts which is how USAA holds capital since they don't have shareholders. You have to have regular USAA insurance to have a subscribers account. When USAA (insurance) has extra capital at the end of the year they do a payout from these subscribers account.

To put it simply (from how I understand it, I could've wrong) the disbursement is basically like a refund of some of the insurance premiums you have paid in the past because USAA collected too much. But if you're not insured directly by USAA, then you paid into a different company which doesn't operate that way. It's confusing.

[Disregarded customer]

LOL, this response is hilarious, so the longer you are with USAA, it's very likely they overcharged their clients and alot of them, so they give some of it back. This company is a scam. Steer clear, go somewhere else, you definitely will get scr*wed over.

[ChiefCz]

I'm not sure how you find that response hilarious. Every insurance company has to charge more in premiums than they pay out in claims and expenses or else they would go out of business. It's simple math. Insurance companies must have reserves in case there is a major catastrophe that causes huge financial losses. The one thing that separates USAA from the other companies is that USAA is a member owned organization. Their are no stockholders or investors where excess profit goes. The excess premiums are kept in subscribers accounts in each members name. If your insurance policy starts with USAA XXXXX, then you more than likely are a member who has a subscribers account. Generally, any excess funds collected throughout the year are added to your subscribers account. Additionally, members receive a distribution from their subscribers account in years that the association has strong financial results. It should also be noted that if you terminate your relatiosnhip with USAA, the full value of your subscribers account is given to you.

[Jessie M.]

Are you sure about getting the funds in your subscriber's account if you leave? I've never heard that.

[DSTEXAS]

Jessie,

He is correct.  It is explained in this pamphlet.

[Disregarded customer]

ChiefCZ, it's hilarious because its a scam, just a dressed up one because people who have not made any claims are overcharged just like people who have made alot of claims but thanks for the "brilliant" analysis of how an insurance company works. So you must have a financial interest in your response, huh Chief? Oh, and yeah, if your wondering, I just questioned your integrity. ;)

[ChiefCz]

ooh no, maybe I should stay off of the big bad internet because "my integrity was just questioned" by someone who seems to make it a habbit of lurking around the member community and harrasing people. Have a nice day!

[DSTEXAS]

It is time to stop feeding the trolls.

[sheesh!]

keyboard warriors always make my day :)

Disregarded,

Were you bullied in high school? Is that what causes you to attack random people on the usaa community board. I again, suggest a therapist or psychiatrist. It might help with your displaced anger