What is a USAA suscribers account?
I got a letter from USAA today saying I had money in a suscribers account. What does this mean? Can I use it?
- 1 decade agoBest Answer
The subscriber savings account is akin to an "investment" that you've made in USAA by paying your Insurance Premium.
As you make your Insurance payments, deposits on your behalf are placed into the account. As catastrophes and other claims occur, the amount of money that USAA is able to Move around/invest/etc for its own business use grows and diminishes based on payouts and the economy.
Each year, the Board of Directors at USAA determines if after all claims have been paid and operational expenses considered, if they can release some of the money in your subscriber savings account to you.
I don't know of a year that they haven't done it yet. Usually it's not very much (depends on your length of membership, amount of premium, etc) but it's either applied towards your bill when it's awarded each year, or deposited to your bank account.
It's basically a benefit of paying YOU back for having business with them.
This only works with certain types of insurance through usaa (namely auto).
The best place to get a detailed explanation would be to call Insurance and ask. 1-800-531-8722.Source(s): i've got amazing insurance ;)
- Anonymous1 decade ago
Try reading the letter. It will explain it to you. You must have been infantry.