Benefits of Having Served in the Armed Services Men and women who serve in the armed services are often entitled to different types of benefits while on active duty or once they become a veteran. From health insurance to home loans, many benefits can pay off now and in the future. Whether you have spent time in the armed services or are considering serving, there are a few important benefits that you can take advantage of. Educational Benefits Many people join the armed services due to the educational benefits that are available. They can make it easy to avoid paying for college tuition. You'll have access to tuition assistance. You can enroll in servicemember opportunity colleges. And you can also receive an education while on duty. You'll even benefit from the GI Bill. This will help you to pay for college expenses. VA Loans One of the main benefits service members take advantage of is the VA loan. This loan allows you to purchase a home without a down payment. They are made by private lenders and mortgage companies, including banks. You'll need to complete a loan application. Then submit it to the lender, with a Certificate of Eligibility, for approval. Health Insurance Veterans and their family members are eligible for free health and dental insurance. You can have quality health insurance at no additional cost with a policy that doesn't change based on your family size. Life Insurance Reserves and Guard members are often able to obtain full coverage or partial coverage for life insurance. Eligibility for a policy at no cost is ultimately determined by the type of unit to which you are assigned. Travel Many servicemembers can see the world as they are stationed in different countries. They also can travel for free in their personal time. You can take advantage of Space A military flights. They fly to various parts of the world at no cost. Lodging facilities on military bases are also available and at world-class resorts. There are often fare reductions and discounts available for the trips that are planned. Pension
Men and women who are in the reserves are eligible for retirement at the age of 60. This is when you can begin to receive a pension. The servicemembers must serve in the military for 20 years to receive a pension. Room and Board Active duty members can have their room and board paid for if they're currently serving in the military on a base. Tax-free housing and food allowances may also be provided. This is determined by the individual's position and where they're stationed. Clothing allowances can also be obtained if the veteran has a disability related to their service. Those who are eligible must have a prosthetic or orthopedic appliance, which can affect the type of clothing that is worn. Or one that makes their garments wear down at a faster rate. Servicemembers are also eligible if they take medication for a skin condition due to a service-connected disability. The disability may cause damage to the clothing that is worn each day. Mortgage Originator Jimmy Vercellino, specializing in VA Loans, helps veterans use their VA loan benefit to their greatest advantage. For more details call us at
480-351-5904. Visit site: https://www.valoansforvets.com/va-pre-loan-faq/ The views expressed here are those of the individual author and do not necessarily represent those of First Choice Bank (NMLS #: 177877) and First Choice Loan Services Inc. (NMLS #: 210764), 7600 E. Doubletree Ranch Road, Scottsdale AZ 85258. Equal Housing Lender. www.fcloans.com/disclaimer/ www.fcbhomeloans.com/privacy