Service members and veterans have financial benefits and resources that their civilian friends don’t. Make sure to take advantage of these benefits. These include everything from exclusive life insurance options, to retirement benefits, to VA home loans. You have an amazing opportunity to save money, plan for retirement, and buy a home at good rates without a down payment.
Life insurance is a tool designed to protect loved ones if the policyholder dies. While the purpose of life insurance remains constant, life choices and changes typically shape your specific insurance policies, coverage amounts, and beneficiary designations. One of the most important areas? Your marital status. How should this affect your military life insurance choices?… Read more »
When you’re on active duty or part of a military family, your financial needs are likely always in flux. From overseas duty stations to deployments and fluctuating pay schedules, military life demands flexibility from your bank. Pentagon Federal Credit Union (or PenFed) might not be exclusively for service members anymore, but it still offers quite… Read more »
There are VA mortgages for a variety of loan purposes. You can buy a condo unit, townhome, duplex, and multi-unit properties with a VA mortgage. You can also use a VA loan to buy a mobile home and even the land that home is to be placed upon. VA loan rules for manufactured home purchases are a bit different than for buying a typical suburban home, but some of those differences have to do with the unique nature of manufactured housing. Learn more.
The VA Certificate of Eligibility (VA COE) is your gateway to the VA home loan program and without it, you can’t officially move forward with a VA mortgage application. Learn more.
A 19.5% pay increase for junior enlisted military members is included in that draft, which now goes under review in the House of Representatives as the next steps in the NDAA approval process begin. Learn more.
The 2024 National Defense Authorization Act (NDAA) is closer to becoming law. Included is a proposed 5.2% pay raise for the military. Learn more.
The looming government shutdown crisis has been averted, at least for now. On the last day of September 2023, Congress found a way to sidestep partisan bickering, political posturing, and budget crisis theater long enough to pass a continuing resolution that keeps the federal government fully funded for an additional 45 days into the new… Read more »
Did you know that military life insurance options include both SGLI and private coverage? Unlike signing up for TRICARE, active duty troops are not restricted to using only the government-offered life insurance options, which include Veterans Group Life Insurance for those retiring or separating from the military.
Is there such a thing as no-exam military life insurance? The short answer is yes, but there are caveats, which we will examine below. If you are in the military, you are provided life insurance coverage through Servicemembers’ Group Life Insurance, but some feel that coverage isn’t quite enough to protect their family. What Is… Read more »
Find out what grieving families need to do in order to report the death of a military member or veteran to the VA and private life insurance providers.