Overview of Veterans Benefits

Because you have served your country, you are eligible for a number of veterans benefits, including disability pay or pension, educational assistance, and home loan guarantees, among other benefits. It is important to be informed about your veteran’s benefits program to maximize their helpful impact upon your return from active service and for the comfort and safety of your family.

Disability Pay or Pension

Disability compensation is available to any veteran who sustains an injury or disease while on active duty, or if any injury or disease worsened because of the military service. Additionally, some veterans receive disability pay because of illnesses or injuries suffered while under VA health care. Disability pay benefits are not taxable.

Those veterans discharged under normal conditions, that is honorable discharge or a medical discharge, etc. are eligible for disability pay. Benefit payments vary, based on the extent of the disability and your family situation. Those with dependents will be paid a larger amount, as will those with a disabled spouse, or those who have extreme disabilities or loss of limbs. There can also be additional amounts for housebound care and aid and attendance under your veteran’s benefits.

Pension amounts are figured based on years of service, date of retirement, and pay grade at retirement. For instance, an E-6 level with 20 years of service would be eligible for about $1,600 per month, and an officer at an O-6 level, like a Lieutenant Colonel or Navy Commander, would be eligible for about $6,100 per month with the same years of service.

Survivor’s Benefits

Surviving spouses and children of military personnel are entitled to a death pension, VA home loan guaranty, Survivors’ and Dependents’ Educational Assistance, and medical insurance.

Burial Benefits

Veterans are eligible for death benefits, and there are two levels as far as that is concerned. Veteran’s benefits for burial on based on either a service-related death or nonservice-related death. VA now pays up to $2,000 for burial expenses for deaths after September 11, 2001 veterans who died due to some service-related issue. The VA will pay for the cost of transporting the body to a VA national cemetery for burial. For non-service related deaths, the VA will pay up to $300 towards funeral and burial expenses and a $300 additional allowance for plot-interment. If the veteran died while in a VA hospital or VA affiliated nursing care, a reimbursement for transporting the body is available.

Home Loans

Another of your veteran’s benefits is the VA guaranteed loan program. Veterans, reservists and National Guard members, surviving spouses of veterans who died while in the service and active duty personnel are all eligible for the loan program

Education

The New GI Bill offers a much more comprehensive package of educational assistance than ever before, and offers help to survivors and dependents as well.

Medical Benefits

Medical veteran’s benefits package includes preventive services, outpatient services, emergency services, medical and surgical care, chiropractic care, mental health care, bereavement counseling, and substance abuse counseling. It also provides prescription and over the counter medications and medical supplies.