- Military Survivor Benefits – At retirement, you have the option of paying for a Survivor Benefit Plan, which will provide payments for loved ones after the death of military members. In order to benefit from this, a service member will have to give up on a portion of their pension during their lifetime to leave behind a certain benefit in the amount equal to 55%. This can apply for anything between $300 and the maximum value of the pension. This could be left for a spouse, a former spouse, children or a combination of the three. Even more, it could also be given to someone that qualifies as an “insurable interest”, for example, someone who is financially dependent on you.
- Military Medical Benefits – After you retire, you should expect to benefit from military medical coverage. The military’s health care program is known as “TRICARE”. Even more, the benefits are doubled: the medical coverage will apply both to you and your spouse as well. Before you retire, you’ll want to have a medical exam to establish if there are any ailments and chronic issues in your file. If that’s the case, retired service members will have the possibility to receive disability benefits from the VA.
- Additional Benefits for Military Retirees – By retiring near a military base, you will have even more advantages of additional services. Retirees and their families will benefit from on-post privileges from the gas stations, commissary, PX, Class VI and gyms.
