What Service Disabled Veterans Should Know About Life Insurance


If you are seeking out life insurance for service-disabled veterans, you will want to do some careful research and comparison. As a veteran you have certain benefits under the veteran's life insurance laws. First, the benefit is 100% tax deductible as long as the premiums are paid in full. Also, there is extra coverage for certain conditions such as traumatic brain injury or being an amputee.

You need to be aware that just because you are a veteran it doesn't mean you don't have health related problems or disability. Many times war and physical injuries result in post-traumatic stress disorder (PTSD). Many times those with PTSD lose their jobs and become unemployed. This often leads to depression and other psychological disorders. Many of these vets come back from the field feeling very negative about what they had or hadn't done. Many turn to alcohol or drugs to forget what really caused their problems.

There are many different programs that are available to veterans with various types of disabilities.car insurance simi valleypay benefits if a veteran is unable to work because of a specific condition. VA, Department of Defense and the U.S. Coast Guard all have specific benefits for this purpose. The Social Security Administration also administers Temporary Assistance for Needy Families (TANF) program that pays benefits if a veteran or member of the military loses his or her job because of a disability. Some states also offer disability claims for state veteran groups such as the Reserve Officers Training Corps (ROTC) or the National Guard and Veterans Association.

If you or someone you know is a veteran and looking for life insurance, it pays to do some comparison shopping. There is a diverse range of policies that are available to choose from. Some will only cover a portion of the disability. Others provide complete benefits. It is important to understand the differences between the two so you can select the right policy.

In order to be qualified for Social Security Disability Insurance benefits, a certain level of monthly income must be considered. The qualified applicant must complete a questionnaire that asks about their monthly income and the type of disability they suffer from. The disability can be physical or emotional and some policies also consider work-related injuries. The benefits amount is based on the income level, the applicant would have if they were disabled.

A few benefits offered by the VA include long term care, disability annuities, and disability compensation. Long term care insurance pays a monthly benefit until the death of the policy holder or until the participant reaches the age of 50. Another policy offered is a disability annuity. This provides a lump sum benefit in exchange for monthly premiums. Most people buy these policies when they first become eligible for Social Security disability benefits. However, some companies also offer them for veterans who became disabled before reaching the age of 50.

As with any other type of insurance, purchasing a policy from a reputable company will help protect the policy holder's coverage. Many companies with a service branch offer discounts to active duty and retired service members. The Veterans Affairs department offers discounts to those who served during the time period specified by their condition. To find out the specific policies available, some people search for life insurance quotes online. These quotes are available for several different companies and do not all apply to all circumstances.

If you are interested in purchasing life insurance for service-disabled veterans, it is important to do your research and talk to an agent. They will provide you with all the relevant information necessary to make an informed decision. Life insurance is a complicated topic and it is not something that should be entered into impulsively. The process can be intimidating to those who do not know enough about it. An agent can explain all of the pertinent details and make the process simple and easy to understand.