Originally Posted by
Jetjok
Interesting, because I always thought that USAA started out as a mutual company and has never changed that status, which means that the company is in effect, owned by their policyholders. As far as I know, there are no "shareholders", other than those insured.
The company is, in effect, owned by the members. But, when e6b says they're casting their net too wide, here's what I saw...when my folks were with them, and for my early career, they insured only officers and officer retirees. Over time they included SNCOs, then all current military and now it's what you see in the commercials. Their actuarial math changed with the changing demographics of their customers/members.