Resources for financial help and guidance when getting out
Stripes Korea | .
published: November 30, 2012
Editor’s Note: We thought we’d put this on the Education page because everyone transitioning out of the military needs to be educated on this subject. It’s crucial for a smooth transition, so please take time to give it a read.
VA Pension: The VA pays pension benefits to wartime veterans who have limited or no income, and who are 65 years or older, or, if under 65, who are permanently and totally disabled. http://www.vba.va.gov/bln/21/pension/vetpen.htm
Home Loan Program: VA guarantees loans to eligible servicemembers, veterans, reservists, and certain surviving spouses to purchase a home, condominium or manufactured home, and for refinancing purposes. Note that the VA only guarantees/backs the loan. The loans itself are made by private lenders. http://www.benefits.va.gov/homeloans/
VA Home Loan Eligibility: Qualification requirements and documents needed when you apply for a VA Home Loan. http://www.benefits.va.gov/homeloans/eligibility.asp
Regional Home Loan Centers: For all your specific (non-eligibility) questions about the VA Home Loan guarantee program. http://www.benefits.va.gov/homeloans/rlcweb.asp
VA delinquency assistance programs: The Department of Veterans Affairs has some programs in place to assist active duty and/or veterans who have fallen behind on home loan payments. http://www.benefits.va.gov/HOMELOANS/docs/foreclosure_avoidance_fact_sheet.pdf
Specially Adapted Housing Grant Program: Veterans or servicemembers who have specific service-connected disabilities may be entitled to a grant from the Department of Veterans Affairs (VA) for the purpose of constructing an adapted home or modifying an existing home to meet their adaptive needs. http://www.benefits.va.gov/homeloans/sah.asp
Life Insurance: The Department of Veterans Affairs developed insurance programs to provide insurance benefits for veterans and service members who may not be able to get insurance from private companies because of the extra risks involved in military service, or a service connected disability. http://www.insurance.va.gov/miscellaneous/buying.htm
Traumatic Injury Protection benefit (TSGLI): Effective October 1, 2011, the Servicemembers’ Group Life Insurance Traumatic Injury Protection benefit (TSGLI) will be payable for all qualifying injuries incurred during the period October 7, 2001 to November 30, 2005, regardless of the geographic location where they occurred, and regardless of whether the member had SGLI coverage at the time of the injury. http://www.insurance.va.gov/sgliSite/TSGLI/Retro.htm
Traumatic Injury Protection benefit (TSGLI) eligibility requirements: Determines your TSGLI eligibility by having you answer a set of questions. http://www.insurance.va.gov/sgliSite/TSGLI/retro/q1.htm
Traumatic Injury Protection benefit (TSGLI) contacts: TGSLI points of contact by service branch. http://www.insurance.va.gov/sgliSite/popups/TSGLIPOC.htm