Many Older Veterans Are Unaware of Special Pension – Take Advantage Now!
There are many benefits obtainable to veterans who have served this country. One of these benefits is access to housing by the VA loan program, which makes it easy for veterans to acquire affordable financing at competitive rates. There is also another assistance obtainable specifically to older and disabled veterans that is not in addition known. This assistance is known as the Aid and Attendance Special Pension, and it is widely unused because so many veterans are unaware that it exists.
How the Pension Helps Veterans
The Aid and Attendance Special Pension was produced in 1951 when Congress passed a law to help older veterans pay for the out-of-pocket costs of long-term health care. These long-term costs refer to the recurring health-related expenses veterans may have, such as the cost of a caregiver, medical costs, assisted living charges and more. The money received from the pension is tax-free and allows veterans to receive over one thousand dollars a month to cover any out-of-pocket costs they have as a consequence of the care they receive.
How to be Eligible for the Pension
In order to be eligible for this pension, the recipient must be a veteran and be older than 65 years old, but veterans who are 65 years old or younger can nevertheless be eligible for the pension if they are considered to be completely disabled. The veteran must also require regular attendance from an individual other than his or her spouse on a consistent basis. Requirements of the pension also state that the veteran must have received an honorable release, and they must have served at the minimum 90 days of active duty with at the minimum one of those days being during a wartime period. In some situations, the spouse of a deceased veteran can be eligible to receive the pension, in addition.
Pair the Pension with VA Loan Benefits to Increase Your Savings!
Veterans can take advantage of a VA loan refinance to receive additional benefits. With a VA loan refinance, veterans can refinance their current mortgage with a VA loan to lower their monthly mortgage payments or to consolidate their debt in order to reduce their overall monthly expenses!
There are already more VA loan benefits obtainable exclusively to disabled veterans. They can have both service requirements and the funding fee waived. They also can receive accommodation grants to make their homes more easy to reach for their particular disability. With the financial assistance obtainable from the pension and the ability to lower monthly expenses with a VA loan, disabled veterans have a great opportunity to live more comfortably and enhance their quality of life.
Many veterans are missing out on this exclusive pension and assistance that they earned as a consequence of their service to this country. Veterans who are interested in receiving the pension should speak with a VA representative to find out if they are eligible for the pension and to a home loan specialist to find out how they can take advantage of VA home loan benefits in order to save money!