What Is USAA Insurance?

USAA Insurance is an insurance company specializing in providing insurance to those who are, or have been, in the U.S. military. It began by offering only auto insurance but now offers nearly all forms of insurance to its clients.

Why was USAA Insurance founded?

In the 1920s, Army officers found it difficult to get auto insurance because they were regarded as a high-risk group. So a group of them self-insured one another. From this beginning, USAA Insurance has grown to be a Fortune 500 company offering most types of insurance, as well as other financial products such as banking, investment and financial planning.

Do I have to be in the military to use USAA Insurance?

You do not have to be in the military to use USAA Insurance, but you do have to be connected to it. Plans are offered to active-duty members of the military, retired members of the military and their families. Plans are not offered to the general public.

What are the advantages of USAA Insurance?

The major advantage is that the military life is different from the civilian. As experts in insurance for those serving and retired, USAA Insurance understands these differences and is able to tailor its policies to their needs. For example, USAA life insurance policies do not include the usual war-exclusion clause, important to those for whom war is a job.

Are there any other advantages?

USAA Insurance, focused on one specific segment of the population, often offers better deals than more widely spread companies. Given the likely movement of military personnel around the world, it also concentrates on serving customers over the phone and Internet rather than through physical branches.

Do I have to use USAA Insurance if I am in the military?

The use of USAA Insurance is entirely voluntary. However, its concentration upon the needs and desires of serving and retired military personnel means that it is often the best company for such military personnel to purchase their insurance and other financial requirements from.

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