What's up with this contract from USAA?

I’ve been receiving mail and now emails asking me to sign this new contract with USAA. It outlines changes including not being able to sue the CEOs personally.

I’ve been a loyal USAA member for over 20 years, and this feels like a major change. They’re acting like this is normal, but in the military, everyone is accountable under UCMJ or similar rules. This makes me question their commitment to service and integrity.

Has anyone else received this? How do you feel about it?

If you’re an officer, you should consider signing the subscriber agreement.

Each year with USAA, they pay dividends to your account. Some members have earned thousands.

I’ve seen people with substantial balances. It’s a great benefit.

However, payouts have decreased recently due to various factors.

It’s worth considering if you’re committed to long-term insurance with USAA.

@Remy
Agreed. I’ve been with USAA for over 30 years, and the SSA benefits, while not as high as before, are still significant.

Haru said:
@Remy
Agreed. I’ve been with USAA for over 30 years, and the SSA benefits, while not as high as before, are still significant.

Does the SSA apply to children of retired service members who also have USAA memberships and insurance?

@Remy
Can someone explain the senior bonus?

Cael said:
@Remy
Can someone explain the senior bonus?

The senior bonus requires years of membership and having an insurance product with USAA. It’s paid annually and can be received alongside the SSA.

@Remy
It requires 40 years of membership.

@Remy
The subscribers account isn’t just for officers.

Kiernan said:
@Remy
The subscribers account isn’t just for officers.

It’s for anyone insured by USAA, not their subsidiaries.

Merritt said:

Kiernan said:
@Remy
The subscribers account isn’t just for officers.

It’s for anyone insured by USAA, not their subsidiaries.

Exactly, it’s open to all USAA policyholders, not just officers as previously mentioned.

@Remy
Each December, you typically receive a disbursement from your account based on its balance.

This contract allows USAA to act as your insurance agent under reciprocal exchange insurance terms. It’s a standard part of how USAA operates.

Keir said:
This contract allows USAA to act as your insurance agent under reciprocal exchange insurance terms. It’s a standard part of how USAA operates.

I’ve never encountered this requirement before. Why should I waive my right to hold CEOs accountable? We’ve trusted them for decades as our insurance agents.

@Kai
The Subscriber Agreement is mandatory for legal reasons. It grants you ownership in USAA, entitling you to dividends and voting rights in company decisions.

Max said:
@Kai
The Subscriber Agreement is mandatory for legal reasons. It grants you ownership in USAA, entitling you to dividends and voting rights in company decisions.

I’m an ex-employee, not an officer. I did 6 1/2 years and moved to CIC.

@Kai
If you want to maintain your policies, signing the agreement is necessary. USAA isn’t trying to deceive you, but if you’re uncomfortable, consider exploring other insurers.

@Kai
Do you want to be informed about every decision they make daily? Signing might be a practical step unless you’re prepared to switch companies.

@Kai
OP, as an attorney, this sounds concerning. Seek legal advice from a specialist in this field. USAA’s approach seems dubious.

Quinn said:
@Kai
OP, as an attorney, this sounds concerning. Seek legal advice from a specialist in this field. USAA’s approach seems dubious.

It’s not what you think. USAA segregates members into different companies, like the original USAA for officers and senior non-commissioned officers, ensuring benefits like the Subscriber’s Savings Account (SSA).

@Zion
I was a junior NCO for less than ten years. With USAA for 23 years, receiving annual payments and proxy votes.