veteran-benefit

10 Veterans Benefits You Might Not Know About

America leads the way when it comes to treating its veterans. Through the Department of Veterans’ Affair, over the 24 million veterans receive a wide range of benefits. However, there are several veterans out there that might not be aware of the full benefits entitled to them.

Most of the veterans are only aware of the basic education and health care benefits. Some of the benefits might be available to active members or members that have served for at least 24 years. However, most of the American Veterans in general have a wide range of benefits availed to them and their families that you might not know about.

Let’s have a look at the ten veteran benefits you might not know about:

Free Tax Preparation

Veterans with difficulties filing their income tax returns can get free tax preparation on volunteer offices at the military bases. Individuals working in the Volunteer Income Tax Assistance offices on most military bases have expertise on complicated military tax problems and can always help for free.

Long-Term Care

Long-term care can be pretty expensive for aging veterans and surviving spouses of veterans. The government through the Aid and Attendance Program offers up to 25K dollars a year of support for aging veterans in assisted living programs and nursing homes. Surviving spouses of veterans also can receive up to 13K dollars a year to cater for long-term care costs.

This is an excellent benefit to cover a significant cost of the long-term care expenses.

Home Loan

Veterans are eligible for a home loan through the GI Bill without a monthly mortgage insurance premium or down payment. It simply means veterans can buy homes without any money at hand.  While the Veterans Administration doesn’t lend any money, it guarantees a portion of the loan with your lender. All that veterans need to do is to meet the credit standards of the lender, and they have a new home.

Mortgage Help

Apart from guaranteeing a portion of your mortgage loan, veterans with trouble mortgage repayment can also receive assistance. This is made possible through special loan forbearance, repayment plans, and loan modifications.  We also have more benefits for homeless veterans and those with VA loans.

Air Travel Benefit

With space permitting, retired veterans and their family members can fly for free or at a small fee on most military flights. However, this is a standby option and only suitable when your travel plans coincide with the military fights Remember to carry a jacket and snacks as most military planes are not comfortable.

Lodging Benefit

Veterans and their families can gain access to inexpensive lodging at military recreational centers or base lodging. However, this is also dependent on space-availability basis. You don’t have to pay for expensive hotel accommodations when you’re near a military base.

Certification Benefits

If veterans want to further their studies, they receive additional credits to enable them access to colleges and other learning institutions. On top of this, they also receive up to $2, 000 to help them process the certification. This is a great benefit to veterans looking to change carriers.

American Corporate Partners Benefit

This is a benefit where veterans through the American Corporate Partners get connections to top companies in their search for a job.  They also receive face-to-face mentoring services to help in carrier development.

Life Insurance Benefit

It is pretty hard and expensive for veterans especially those with injuries to obtain the traditional life insurance. However, this is now possible through the ‘Veterans Group Life and Servicemembers’ Insurance Program where they receive up to 400K dollars in life insurance.

Transfer of GI Bill Credits

Veterans can also transfer unused credits to their spouses and dependents through the GI Bill. However, there is a service limit required before one can transfer such benefits.

Conclusion

There are several benefits we’ve not discussed, but these are the main ten veteran benefits you might know about. Make sure you’re well-informed of your benefits as a veteran through the Department of Veteran’s affair to take advantage of what you rightfully deserve.

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