Secret VA Benefits: VA healthcare and educational benefits are well known to many veterans, but many lesser-known financial perks could make a big difference in your financial circumstances.
These Secret VA Benefits can be exactly what you need, whether you’re seeking assistance with housing, launching a business, or making plans.
1. Services for Long-Term Care
One of the biggest costs in later life can be long-term care; but, as a veteran, you can lessen this load by taking advantage of the many programs offered by the VA.
With services ranging from adult day care and home health care to hospice and respite care, the VA helps both you and your caregivers.
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Whether you require full-time nursing care or assistance with daily duties, these benefits can significantly lower your out-of-pocket expenses.
2. Assistance for Caregivers
Your caregiver is an essential part of your everyday life if you need long-term care.
The Caregiver Support Program provided by the VA acknowledges this and provides a number of resources to assist the caregiver.
This includes a monthly stipend, access to mental health services, healthcare insurance, and respite care so that caregivers can take care of their own well-being in addition to giving the best care possible.
3. Death Benefits
The VA makes sure that your service is respected even after you pass away.
Veterans are eligible for several death benefits, which can be provided to their families at no expense, such as headstones from the government, perpetual care, burial flags, and interment in a national cemetery.
Furthermore, if your death was related to your service, the Dependency and Indemnity Compensation (DIC) pays surviving spouses, dependent parents, and children.
Programs for Non-College Degrees
A typical four-year degree is not necessary for every vocation.
Beyond college, the VA offers benefits for education that include apprenticeships, certificates, and practical training in high-demand professions like computer networking, truck driving, and HVAC maintenance.
Through initiatives like the Vocational Rehabilitation and Employment (VR&E) and Post-9/11 GI Bill, veterans can obtain the training required to land well-paying employment without having to worry about taking out student loans.
No-Cost Tax Preparation
Although filing taxes can be a difficult and stressful chore, the VA offers resources to help.
With the Volunteer Income Tax Assistance (VITA) program, veterans can receive free tax preparation assistance, maximizing their refund without having to deal with the headache of understanding tax regulations on their own.
Non-taxable disability benefits are another way that veterans with a disability rating might lessen their tax burden.
Life Assurance
To safeguard the financial future of your family, getting life insurance is essential, and the VA provides several veteran-specific choices.
The VA offers cost-effective choices that guarantee your loved ones are taken care of when you pass away, whether you require term life insurance through Servicemembers’ Group Life Insurance (SGLI) or wish to convert it to a civilian policy through Veterans Group Life Insurance (VGLI).
Mortgage Support
With the help of the VA’s Home Loan Guaranty program, homeownership is now possible.
Veterans can purchase or refinance a house more easily thanks to VA loans, which frequently have no down payment requirements and competitive interest rates.
The VA also offers Specially Adapted Housing grants to people with severe disabilities related to their service, enabling them to alter dwellings to better suit their needs.
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Business Advantages
The VA provides several options to assist in launching and expanding a business for veterans who have entrepreneurial goals.
Veteran-owned firms can get federal contracts with the assistance of the Office of Small and Disadvantaged Business Utilization (OSDBU), and the SBA’s Veterans Advantage Program offers lower loan fees.
Veterans can now get the funding and resources they need to realize their entrepreneurial goals thanks to these perks.
Unclaimed Money
You might have unclaimed money waiting for you, believe it or not.
These funds, whether from unclaimed insurance policies, uncashed cheques, or forgotten bank accounts, are legitimately yours.
You can look for unclaimed property in your name with the assistance of the National Association of Unclaimed Property Administrators (NAUPA).
If money is waiting for you, it’s worth taking a few minutes to check; you might be amazed at what you discover!
These are but a handful of the monetary advantages afforded to veterans.
You may improve your financial stability and make sure you’re receiving all of the advantages you’ve earned by looking into these lesser-known programs.
Take the time to find these untapped opportunities and maximize your well-earned perks to avoid throwing money away.
