The purpose of the “Compensation” benefit is to award veterans a certain amount of monthly income to compensate for potential loss of income or qualify of life in the private sector due to a disability, injury or illness incurred in service. In order to qualify, veterans must have evidence of a service-connected disability. The award amount is based upon a percentage of disability shortly after the veterans leave service. There is generally no income or asset test for most forms of Compensation and the benefit is non-taxable. Additionally, veterans who are receiving the Compensation benefit, but their condition has worsened (and therefore they should qualify for an increase in their benefit), may reapply and potentially obtain a larger benefit amount based upon a higher disability rating. As the application process is fairly clear and requires no additional knowledge to submit a claim, the balance of this section of our website as well as our legal practice is devoted to assisting veteran households qualify for and obtain the Improved Pension “Aid & Attendance” benefit.
For additional information and resources concerning Veterans Benefits, please visit http://www.veteransbenefitsnclawfirm.com.