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by sokoloff 978 days ago
Related, USAA was originally formed to offer insurance and later banking to military officers and their families. (They since expanded some offerings to enlisted and to civilians.)

It turns out that selecting for military officers has a beneficial impact on auto losses, putting USAA in a good position to offer competitive rates and outstanding service.
2 comments
stonogo 978 days ago
USAA also isn't a typical insurance underwriter. It's essentially a giant self-insurance co-op, and for decades they would just terminate service if they decided you were outside their risk window, whether you otherwise qualified or not.
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red-iron-pine 978 days ago
not impressive pay, but decent, and regularly on the 1st and 15th. also adjusted for inflation, and has some other unique market facets, like having younger folks being generally fit and healthy, and older, retired military folks getting pensions.

compare that with your average career bartender or construction worker

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