As you get older, you might want to look into setting up your long-term care strategy. You may have some unique options to choose from depending on what you’ve done in your life. You might find that you qualify for a Veterans Pension if you served for at least 90 days of active duty while in the military, for example.
The military generally issues this pension to those with at least three months (90 days) of active duty service as long as at least one of the days overlapped with a war.
What are the eligibility requirements for the Veterans Pension program?
Not just anyone qualifies for a Veterans Pension. You must be able to show proof of the following to do so:
- Belonging to a family with an income and net worth that falls below the congressional limits
- You didn’t receive a dishonorable discharge from the military
- Your active duty lasted for at least 90 days and started before Sept. 8, 1980
- Your rank was that of an active-duty officer after Oct. 16, 1981, with no prior active duty stints lasting 24 months or longer
- You enlisted after Sept. 7, 1980, and served at least 24 months
- You’ve reached the age of 65 and are totally or permanently disabled, reside in a nursing home or receive Supplemental Security Income or Social Security Disability Insurance
You may be eligible to receive compensation under the Veterans Pension program provided that you can demonstrate that you meet the above-referenced eligibility criteria. Your receipt of this financial support may aid you in better planning for your long-term care and wellbeing. An attorney can go over additional information about the program with you and help you determine whether you might qualify for it.