What other benefits do you have that could help your finances?
U.S. states offer Veterans a wide range of benefits
While many veterans are aware of VA healthcare and educational benefits, there are numerous lesser-known financial perks that could greatly enhance your financial well-being.
Whether you’re seeking assistance with housing, starting a business, or planning for the future, these hidden VA benefits could be exactly what you need.
VA has many programs to support older Veterans and their families and caregivers.
— Veterans Affairs (@DeptVetAffairs) August 19, 2024
Explore resources: https://t.co/G92sPjIPjZ pic.twitter.com/YkYuNVQWsi
1. Long-Term Care Services
Long-term care can be one of the most significant expenses as you age, but as a veteran, you have access to various VA services to help ease this burden.
From home health care and adult day care to respite and hospice care, the VA provides a range of services that not only assist you but also support your caregivers.
Whether you need help with daily activities or require full-time nursing care, these benefits can significantly reduce your out-of-pocket expenses.
2. Caregiver Support
If you need long-term care, your caregiver plays a crucial role in your daily life.
The VA acknowledges this by offering several resources through the Caregiver Support Program.
This includes a monthly stipend, access to healthcare benefits, mental health services, and respite care to ensure caregivers are well-equipped to provide quality care while also taking care of their own well-being.
3. Death Benefits
Even after passing, the VA ensures that your service is honored.
Veterans are entitled to various death benefits, including burial in a national cemetery, a government headstone, a burial flag, and perpetual care—all at no cost to your family.
Additionally, the Dependency and Indemnity Compensation (DIC) provides financial support to surviving spouses, children, and dependent parents if your death was service-related.
You may be eligible for mental health benefits through the VA care network.
— Veterans Affairs (@DeptVetAffairs) August 20, 2024
Explore the tools and resources and check your eligibility: https://t.co/dkZkEoYyGa pic.twitter.com/hh0nDFt92q
Non-College Degree Programs
Not all careers require a traditional four-year degree.
The VA’s education benefits extend beyond college to cover vocational training, apprenticeships, and certifications in high-demand fields like HVAC repair, truck driving, and computer networking.
With programs like the Post-9/11 GI Bill and Vocational Rehabilitation and Employment (VR&E), veterans can obtain the training needed for well-paying jobs without the burden of student loans.
Free Tax Preparation
Filing taxes can be complex and stressful, but the VA offers resources to make it easier.
The Volunteer Income Tax Assistance (VITA) program provides free tax preparation assistance to veterans, ensuring you can maximize your refund without navigating tax laws alone.
Additionally, veterans with a disability rating can benefit from non-taxable disability payments, reducing their tax liability.
Life Insurance
Securing life insurance is vital for protecting your family’s financial future, and the VA offers several options specifically for veterans.
Whether you need term life insurance through Servicemembers’ Group Life Insurance (SGLI) or wish to convert it to a civilian policy via Veterans Group Life Insurance (VGLI), the VA provides affordable options to ensure your loved ones are cared for after you’re gone.
Mortgage Assistance
Homeownership is more attainable thanks to the VA’s Home Loan Guaranty program.
VA loans often require no down payment and offer competitive interest rates, making it easier for veterans to purchase or refinance a home.
For those with severe service-connected disabilities, the VA also offers Specially Adapted Housing grants to modify homes to better suit their needs.
Business Benefits
For veterans with entrepreneurial aspirations, the VA provides a variety of resources to help start and grow a business.
The Office of Small and Disadvantaged Business Utilization (OSDBU) helps veteran-owned businesses secure federal contracts, while the SBA’s Veterans Advantage Program offers reduced fees on loans.
These benefits give veterans access to the capital and resources needed to turn their business dreams into reality.
Unclaimed Funds
Surprisingly, you may have unclaimed money waiting for you.
Whether from forgotten bank accounts, uncashed checks, or unclaimed insurance policies, these funds rightfully belong to you.
The National Association of Unclaimed Property Administrators (NAUPA) can help you search for unclaimed property in your name.
It’s worth taking a few minutes to see if there’s money waiting for you—you might be surprised by what you find!
These are just a few of the financial benefits available to veterans.
By exploring these lesser-known programs, you can improve your financial security and make sure you’re fully utilizing the benefits you’ve earned.
Don’t leave money on the table—take the time to uncover these hidden opportunities and maximize your well-deserved benefits.
