Military insurance company USAA is expanding its customer base by nearly 35 million prospects by opening up eligibility for its products to all veterans who have honorably served in the U.S. Armed Forces anytime.
More than 18 million U.S. military veterans and their 17 million eligible family members may now can take advantage of USAA and its insurance and banking services.
The financial services firm, which says it now has 7.3 million customers, had previously restricted its sales to military officers and their families as well as some enlisteees and non-commissioned officers. But no personnel who served before 1996 were eligible for USAA membership; now they will be.
“We believe everyone who served honorably in the armed forces should be able to manage their financial well-being with USAA, a company committed to caring more about the unique needs of the military community than any other,” said retired Army Maj. Gen. Joe Robles, USAA’s President and CEO.
USAA operates without commissioned sales agents. It offers insurance, banking and other financial services. In 2008, the company’s net worth increased to $14.6 billion, and USAA earned $423 million in net income.
Who is now eligible for USAA Property Casualty Group membership?
- All current members of the U.S. Armed Forces, active duty, Guard and Reserve, as well as those who retired or honorably separated in the past, regardless of dates or branch of service (Army, Air Force, Navy, Marine Corps and Coast Guard).
- Cadets, midshipmen, and officer or warrant officer candidates in government-sponsored programs leading to a commission.
- Adult children, widow(er)s, and un-remarried former spouses of USAA members.
- Widow(er)s of officer and enlisted personnel who were killed in action while eligible.
Additionally, USAA life insurance, investment, retirement and deposit products are also available to members’ extended families and others who are not eligible for USAA membership.
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