Disability Payments

• Veterans with disabilities that result from serving in any branch of the military may qualify for disability payments from the VA. Disability benefits are monthly payments based on the disability rating of the veteran. Disability ratings are based on the severity of the disability and expressed as a percentage rate of disability. Monthly disability payments increase as the disability rating increases. Disability payments also depend on whether the veteran is single or has dependents such as a spouse or children.
  
  

Life Insurance

• Veterans also have the option to carry over the Servicemembers Group Life Insurance benefits from active duty into civilian life through the Veterans' Group Life Insurance program. The VGLI offers veterans the opportunity to keep or modify this valuable life insurance coverage at a discounted cost than some life insurance plans on the open market. According to the VA, the veteran must initiate VGLI within one year and four months after separating from the military and make monthly premium payments to maintain coverage.
  
  

VA Mortgage Guaranty

• Qualified veterans also have the opportunity to purchase a home through the VA Mortgage Guaranty Service, which the agency within the VA that administers the VA home loan program. The VA home loan program insures mortgages originated by private lenders for veteran mortgage borrowers. By insuring mortgages, the VA is able to keep closing costs lower and make credit qualifications more favorable for the veteran. The limits of the mortgage insurance vary by region and cost of living.
  
  

Education

• Veterans of the armed services also have access to financial assistance programs to help cover the cost of college. The most comprehensive VA education benefit program is the Post-9/11 GI Bill, which pays for tuition, housing and provides an annual book allowance. The total amount of the Post-9/11 benefit depends on where the veteran attends college or training course and the cost of the most expensive public institution in the state where the school or training program is located. Other variations of the GI Bill include a separate program for members of the Reserve and National Guard and the Active Duty GI Bill, which is the predecessor to the Post-9/11 GI Bill and provides a monthly stipend directly to the veteran to help offset the cost of training or college.