One car insurance company where I live operates kinda like this. USAA.
Every subscriber is a member. Every year, after they pay operating costs, they take the money left over from premiums and put it into accounts distributed across all the members. When you reach a certain age you can withdraw the money accumulated in your account.
Yeah I didn’t know most of that. I’m not a veteran so I can’t be a. Member even though I bank with them. Or couldn’t last I checked. I probably can now because my MiL is a vet.
There are a lot of them like that called “mutuals” which are just insurance cooperatives. If you’re American you can probably get your insurance through one, although they aren’t as popular.
One car insurance company where I live operates kinda like this. USAA.
Every subscriber is a member. Every year, after they pay operating costs, they take the money left over from premiums and put it into accounts distributed across all the members. When you reach a certain age you can withdraw the money accumulated in your account.
It’s amazing what you can do when you aren’t accountable to shareholders
I haven’t heard of this. What’s this benefit called?
Yeah I didn’t know most of that. I’m not a veteran so I can’t be a. Member even though I bank with them. Or couldn’t last I checked. I probably can now because my MiL is a vet.
…i don’t know man, i’ve been with USAA for fourty years and my dividends always amount to just a discount on my december premium…
There are a lot of them like that called “mutuals” which are just insurance cooperatives. If you’re American you can probably get your insurance through one, although they aren’t as popular.