USAA Opens Benefits to All Vets
By PAUL J. WEBER
Updated 11:30 AM CST, Thu, Nov 5, 2009
USAA, an insurer for military members and their families, is opening eligibility to all honorably discharged veterans.
The San Antonio-based firm announced Thursday that the change expands its potential customer base to an estimated 35 million people, including 18 million veterans and their spouses and children.
The company, chartered in 1922 to serve military officers, used to require military retirees to join before they turned 35 or when they left the service if they were over that age.
USAA currently provides insurance and financial services to about 7.3 million former military members and their families.
The company reports that its net worth increased to $14.6 billion in 2008, when USAA says it earned $423 million in net income.
Copyright Associated Press
First Published: Nov 5, 2009 11:21 AM CST
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