You've served your country, and now it's time to take advantage of the benefits you've earned. Accessing those benefits could give you a jump start on a college diploma, an apprenticeship or even a house. Your military service also means you may qualify for less-expensive medical benefits than typically offered in the civilian world.
All veterans covered under Servicemembers' Group Life Insurance while in the military and who have left the military within the past year and 120 days may apply for Veterans' Group Life Insurance. Regardless of your health, this policy is renewable every five years for the rest of your life. You can buy increments of life insurance ranging from $10,000 to $400,000.
Guaranteed Home Loan
After years of moving around, it's time to grow some roots. If you served as an active-duty service member and received an other-than-dishonorable discharge, you're eligible for a Veterans Affairs guaranteed loan. It can be used to buy a home, buy a lot for a manufactured home, improve a home or refinance an existing home loan. The rate will be competitive, and you'll have either no down payment or a small down payment. If the bank approves the loan, VA will guarantee part of it.
The Montgomery G.I. Bill provides up to 36 months of education benefits for several programs: college, business school, technical or vocational school, on-the-job training and apprenticeship programs, remedial classes, correspondence courses and some flight training. It also will pay for some tests necessary to do a job or move ahead in a career field. The GI Bill is available for most people who left active duty after 1985 and completed at least two years of duty. You must have been discharged honorably.
Veterans Affairs officials have promised to end homelessness among veterans of the armed forces. Resources for those having problems range from disability benefits to work therapy. VA will provide medical services, refer veterans for jobs, provide counseling for substance abuse and provide in-patient treatment for mental health issues such as post-traumatic stress disorder. Many communities also have Vet Centers where veterans can go and be helped by other veterans.
If you served in the wars in Iraq or Afghanistan, you automatically qualify for health care at Veterans Affairs medical centers for the five years after you leave the military. That care can include everything from annual exams to group therapy for combat stress or substance abuse. Every medical center employs veterans from these wars to help new veterans feel welcome.
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