Most veterans know about the most publicized perks of being in their position: free healthcare and educational benefits. But it turns out that society is a heck of a lot more grateful for people who've seen active service than many realize. Both private companies and governments do a lot to show those who put their lives on the line that they care.
Being a veteran isn't just a badge of honor - it comes with economic benefits too. Check them out below.
Help With Mortgage Payments
Every year, millions of people pay back their mortgages to the bank. In return, they get to live in a property of their choosing. But did you know that veterans may be eligible for mortgage assistance?
It turns out that the Department of Veteran Affairs provides a bunch of plans for ex-military personnel to help make their mortgages more affordable. These include loan forbearance places, loan modification programs, and special repayment plans. These financial instruments and policies are ideal for all veterans, but particularly those who find themselves in poverty once they leave active service.
Free Tax Preparation Services
Most people have to pay an accountant to do their tax prep for them, but veterans may be able to get it for free. Volunteer Income Tax Assistance on military bases will prepare all your tax details for you. Plus, these clerical staff often understand all of the complexities of calculating tax when you live overseas.
College Credits
Many top military-friendly colleges allow you to use service experience to contribute towards college credits for specific courses. Thus, merely working in the military is sufficient to help you get ahead of other students and complete your studies faster.
Life Insurance Services
Many military veterans struggle to obtain regular, private life insurance, especially if they have seen combat. Vets, however, still want to look after their families and protect them financially. Life insurance, therefore, can become a real thorn in their side. Getting adequate cover through the usual channels is a challenge.
Fortunately, there are numerous veterans' life insurance programs. Many vets can secure life insurance payouts of up to $400,000 in the event that they pass away. What's more, the rates for these services are often better than many vets imagine. You won't have to dedicate half your pay to premiums.
Death Benefits
Military vets put their lives on the line for their country. It is only right, therefore, that the state offer death benefits to pay for the funeral arrangements of those sadly lost in combat.
The average funeral costs more than $8,000 in the US - a significant expense for the average military family. The Department of Veterans Affairs, therefore, provides free headstones and grave markers for those who lose their lives. Families can also request a casket and a US flag to drape over the top of it for the ceremony.
Care Support Services
Veterans often suffer injuries during the course of their work. It's all part of the job. Many wind up maimed and unable to look after themselves in one way or another.
The state, however, doesn't just leave them to their fate. Instead, it provides support through the Veteran Department caregiver support program.
This service is essentially free counseling and advice for carers of ex-military personnel. It provides support designed to cater to the stress of caregiving.
Money Off Shopping
Retailers are keen to show their support to veterans, and many of them now offer substantial amounts of money off purchases.
What's more, these discounts are across the board, from gift stores to auto outlets.
Advance Auto Parts - one of the biggest distributors in the country - provides 10 percent off to veterans - a massive discount in a highly competitive industry.
Samual's jewelers offers a 10 percent discount for both retirees and those in active military service. All you need to do is show your military ID at the checkout to get money off the final purchase price.
Being in the military involves some considerable costs, both personally and financially. People don't do it because they want some sort of reward or even glory. Instead, they go into it to protect the people and the country that they love. It is fundamentally an act of service.
Most military veterans hope that they never have to deploy their training in active combat. They wish for a peaceful world. But they're ready to act if anyone threatens the homeland. And for that reason, society repays them in all kinds of perks and benefits.
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