Military Consumers Remains Overlooked: Potential Benefits May Go Unclaimed for Veterans and Military Families
In the pursuit of financial stability and optimizing benefit eligibility, service members, veterans, and military families have a wealth of resources at their disposal. These resources cater to various aspects of financial literacy and assistance, from education and training to direct financial support and benefits optimization.
One such resource is the VA National Veterans Financial Resource Center (FINVET). This comprehensive, one-stop website offers vital tools and resources aimed at helping veterans and their families manage money, save, earn more, and reduce debt. FINVET also provides educational webinars that link financial wellness with overall well-being and can improve access to financial assistance programs and benefits planning.
Beyond the GI Bill, veterans and their families can access scholarships from military branches, educational institutions, and private organizations to help cover tuition, books, housing, or other educational expenses. Early preparation and awareness of these opportunities can maximize available funding.
Programs such as state and local grants and assistance offer financial relief or support specific needs, often with low or no cost to the applicant. These programs provide grants for housing, fertility treatments, business development, or travel assistance for veterans and military families.
Transition Planning and Financial Training Podcasts and Resources offer actionable insights on maximizing military pensions, managing healthcare costs, increasing savings rates, and obtaining civilian skills or certifications that improve financial stability during and post-service.
Veterans should also leverage official VA platforms like FINVET for education and benefits navigation. They can subscribe to VA newsletters to stay current on new benefits and can pre-apply for burial privileges in a veteran cemetery.
Veterans are eligible for a wide range of benefits, including disability compensation, veterans life insurance, healthcare, employment benefits, education benefits, home loan benefits, and survivors benefits. Even if a disability was exacerbated during service, veterans can still apply for disability benefits after leaving the service.
Veterans with disabilities are eligible for VA health care, and spouses of veterans with 100% VA disability or a VA disability who die of that condition are eligible for dependence indemnity compensation, a tax-free benefit for the rest of their lives.
In addition, veterans can turn to reputable organizations like Armed Forces Mutual for assistance in navigating and optimizing their benefits. Armed Forces Mutual works with 100,000 people to help them create good financial budgets and take advantage of opportunities. Their website (aafmaa.com or armedforcesmutual.com) is another recommended resource for financial literacy and education.
July is Military Consumer Month, a time for service members, veterans, and military families to check their financial health. Veterans Group Life Insurance is available without any medical exam upon leaving the service, and veterans are eligible for burial in a veteran cemetery, with a cemetery within 75 miles of 95% of Americans.
For more information, veterans can visit the VA's new portal and app for veterans to navigate benefits. Mike Meese serves as the President of Armed Forces Mutual, an organization committed to helping veterans and military families achieve financial stability.
The federal workforce, with veterans and military families among its ranks, can benefit from the reimagined workforce by utilizing the VA National Veterans Financial Resource Center (FINVET), a comprehensive platform that offers tools and resources for financial management, education, and debt reduction. Additionally, veterans and their families can explore personal-finance opportunities, such as scholarships, grants, and VA life insurance, to optimize their financial stability during and post-service.
