Watch for your USAA bonus check!

[DawnCt1]

What are dividends tied into? Insurance?

We got ours too...$18 and it was applied to my auto insurance automatically.

There is a USAA savings account that you get when you leave the company. Does anyone actually leave? Anyway I think that the dividends are based on that figure. We have auto, homeowners, umbrella, and credit card and have been members since 1987.

 

[CPT Tripss]

The checks only apply to the "excess" in the Subscriber Saving Account (SSA). SSA only considers the insurence product you have with USAA . . . not any banking you may do with them.

For more info . . . http://militaryfinancenetwork.com/2008/03/17/usaa-subscriber-savings-account-insurance-policy/ . . . had this.

Subscriber Savings Accounts
Subscriber Savings Accounts (SSAs) are a byproduct of the legal structure of USAA. One of the interesting features about USAA is that it is not a publicly owned company, USAA is actually member owned. This is important because it gives USAA different options for raising capital.

Publicly owned companies sell stock to raise capital; USAA holds it capital in member owned SSAs. These funds are held in reserve for USAA to satisfy legal requirements and pay for catastrophic losses and other catastrophes.

It’s your money, but it is held by USAA. An SSA is your money, but it isn’t a bank account. The money held in in an SSA under each member’s name, and remains there in the event USAA needs to use the money to pay insurance settlements or claims. Members are not able to make withdrawals or deposits to or from their SSA.

SSA Balance. Money is allocated to your SSA depending on several factors, including a percentage of the particular member’s property and casualty premiums, USAA’s investment portfolio and performance, the member’s SSA balance (sometimes distributions are made on a percentage basis), longevity as a USAA member, and other factors.

SSA Distributions. USAA board members have the option to make financial distributions to its members based on how well USAA’s investments performed, how much money each person has in their SSA, and a multitude of other factors.

How to get your SSA money back. There is actually no way to get your SSA funds back unless you close all of your property and casualty policies. Your SSA will be paid out approximately 6 months later. When my wife and I consolidated our policies after we got married, I received the balance of my SSA after closing my account - about $160. The good news is that receiving your SSA funds is not generally taxable because it is considered a return on premiums. Be sure to check with a tax adviser for more details.

Distributions are not guaranteed. USAA has a track record of giving their members distributions, but it is important to note that these are not guaranteed. Still, it is nice to know that you can receive a return on your premiums if you ever leave the company. Most insurance companies end up keeping those funds!