7 Veterans Benefits You Might Not Have Heard About

Have you claimed all your rightful veterans benefits yet? Are you looking for other programs that offer help for veterans? If you are, then you’ve come to the right place.

Serving the country is both an honor and a sacrifice. It’s an art that isn’t lost on the young men and women of this country. In 2018, the US Census Bureau found that 18 million military veterans lived in the US. 

Yet, many of them don’t get all the benefits they should receive. To find out if you’re getting all the veterans benefits you deserve, read on below. 

1. Disabled Veteran Benefits

The VA Disability Compensation offers financial benefits for those with a service-related disability. This is one of four major benefit programs for veterans who got discharged. Anyone with a dishonorable discharge will not get this benefit.

The benefit is tax-free and can range from $133 to over $3,400 monthly. Factors that allow for higher compensation pay include severe disabilities or loss of limbs. Veterans who suffered the loss of organs or extremities also have extra compensation. 

If the disability makes you unemployable, you may also get higher compensation benefits. Disabled veterans have VA travel reimbursement as well. Requirements for application include discharge paperwork and medical evidence.

2. Veterans Benefits on Tax Preparation

Military-specific tax is very complicated and takes time to compute. For veterans, there’s no need to worry about tax preparation. Volunteer Income Tax Assistance offices allow veterans and family access to free tax preparation services. 

The Internal Revenue service aids veterans with tax-filing as well. Other services include financial education and asset-building opportunities for veterans. They also provide you federal tax-related information about tax credits and benefits.

3. Life Insurance

Getting back into society is difficult enough for veterans. Finding the right life insurance isn’t making it easy either. This is especially true for veterans who suffered injuries during their service.

The Servicemembers’ and Veterans’ Group Life Insurance programs make this easier for them. New veterans can benefit from these programs as well. The key is to apply for VGLI within a year and 120 days from discharge.

The VGLI bases the rates of insurance on the age of the veteran. You can apply online through the VA benefits site or eBenefits. It’s also possible to convert your SGLI to a VGLI if you want to.

4. Education and Certification Programs

The country goes first and for everything else, put it on hold. That includes your education. Thanks to the GI Bill, you get benefits that help pay for your education post-service.

You can use it to finish college, graduate school, or study at a foreign school. The GI Bill has many programs you can apply for such as the Yellow Ribbon Program. To read more about the Post-9/11 GI Bill, check out the link for everything you need to know.

The GI Bill gives not only veterans benefits but also to their family members. If you have unused Post-9/11 GI Bill benefits, you can transfer them to a dependent. This often includes your spouse or children.

Depending on your circumstance, the program can cover partial or total tuition. The VA educational benefits also include tutorial help for those who are struggling with the coursework. 

You may also apply for the Vocational Rehabilitation and Employment benefits. It’s for those who have service-related disabilities that limit their ability to work. It will help them explore employment options and get extra training for it.

5. Small Businesses and Business Loans Benefits

If you’re a veteran looking to open a small business or get a business loan, this is sure to benefit you. The VA Office of Small and Disadvantaged Business Utilization (OSDBU) assists veteran-owned businesses. It has programs that aid, counsel, assist, and protect the interests of such businesses.

It promotes business with veterans by encouraging VA-contracting offices to include veteran-owned contractors. If you want to learn how to start a business, the OSDBU offers business training and education. On the OSDBU website, you can get verified to do business with VA through the Vets First Verification Program.

If you already have a business, you can open it to other veterans who are in the market for jobs. The OSDBU offers marketing and networking opportunities for small and veteran-owned businesses. It has many upcoming events for the coming months so sign up now.

6. Mortgage and Loan Assistance

If you are having trouble paying your mortgage, this will be most helpful to you. The Department of Veterans Affairs offers several options for those struggling with mortgages. Getting behind on mortgages can be taxing and thus this is one of the best veteran benefits offered.

You’ll find there are some very good deals if you qualify for the VA home loan program. If you qualify, you don’t need to make down payments, pay mortgage insurance, or closing costs. Plus, underwriting standards for government-backed mortgages are laxer compared to conventional loans.

7. Long-Term Care

Are you a veteran coming to the age of living in a nursing home? Providing care for the aged is expensive. However, this is one of the benefits for veterans that help with long-term care.

Check out the Aid and Attendance program for veterans. It helps veterans receive money to cover the cost of nursing homes. It also offers options for assisted living or other preferences for long-term care.

You and your spouse can receive up to $25,020 per year to cover your long-term care costs. This benefit also applies to the surviving spouses of veterans. They can receive up to $13,560 yearly to cover the costs for their long-term care. 

Keep up with Your Benefits

Before you look to apply for these benefits, make sure you have eligibility first. For most of these veterans benefits, dishonorable discharge spells illegibility. Former members of the selected reserve can also apply for some of these benefits.

Remember that military benefits for veterans are always changing. Make sure you know what benefits you qualify for when there are any changes. Read our other guides for more helpful information on veterans’ benefits.

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