Serving your country is the most courageous and important task anyone could do. For those who risk their lives for the nation, the government offers a number of benefits through the Department of Veterans Affairs. Besides lots of freebies and discounts available on Veteran’s Day, there are many other things veterans and their immediate family members have access to. Here are 7 benefits every veteran should know about and check if they are eligible.
#1 Life Insurance – Many veterans find it difficult to enroll in the traditional life insurance program, particularly when they have suffered an injury at the time of their service. Therefore, Veterans Group Life Insurance offers coverage of up to $400,000 for the lifetime as long as you stay regular on premiums. There are also many other insurance services specifically created for veterans that can be found online. Use relevant discount vouchers to get amazing bargains on your desired policies.
#2 Small Business Loans – The Small Business Adminitrative has introduced several programs that are aimed towards helping veterans if they are willing to start a business or fuel their ongoing business. Through SBA Express Loan program, SBA Veterans Advantage Loans offer fee-free loans to veterans, soldiers, and members of the national guard, their spouses and widows of the serviceman for up to $350,000. They are also offered business guidance and training.
#3 Monthly Pension – Veterans with low-income or their surviving family or who need support in daily living, they can benefit from Aid and Attendance program. Through this program, veterans will receive money every month to cover the expenses of food, clothes, medical bills and other basic needs. This program enables a couple to receive up to $25,000 a year, and thus taking care of a considerable portion of their long-term costs.
#4 After Death Advantages – When a veteran passes away, his family is provided with several benefits. The family may request for the country’s flag to place over his casket. The Department of Veterans Affairs also offers free grave markers or headstones to be placed near his grave.
#5 Free Tax Preparation – Through the Volunteer Income Tax Assistance military based offices, veterans and their family members can get free tax preparation services. The members working in these offices have enough expertise to work with a complex tax structure of military man.
#6 Job Opportunities – American Corporate Partners helps veterans to connect with mentors from over 500 well-established companies for job opportunities. ACP allows them to receive one-to-one mentoring to develop their career. The organisation also runs a separate mentoring program for women, where female veterans can pair with women entrepreneurs and get access to career development events and workshops.
#7 Financial Coaching – Veterans across the country can get free financial coaching through Consumer Financial Protection Bureau’s Office of Service Member Affairs. Financial coaches will help you achieve your financial goals by offering support, tools and accountability. Other than veterans, this service can also be accessed by reservists, national guard members and their spouses and family members.