There are various methods to support military families, from arranging informal occasions for families to get together to directing them toward crisis intervention.
Armed Forces Benefits Network is an organization that enables military families to employ the services that best suit their goals, interests, and requirements. Families use this program for the support they need to deal with the financial stress and risks in their lives so they can provide their families better.
Why is it Crucial to Support Military Families?
The military should have your support since they are citizens just like you. Military members are there for you and the community when you need them, so it only makes sense to be there for them.
Role of Armed Forces Benefits Network
Armed Forces Benefits Network plays a significant role in supporting military families. Here’s how:
Active Duty Benefits
The Army provides benefits apart from your base pay as soon as you join the military. The network sets you up to create stability for your future and your family. The active duty benefits include the following:
- $50k in enlistment bonuses
- High-quality care at a reasonable or no cost
- Better mortgage interest rates
- Options for pension and retirement plans
Armed Forces Benefits Network provides veterans benefits which include:
- Veterans Insurance
- Veterans Disability Benefits
- Veterans Education & Training Programs
- Veterans Home Loan Guaranty Program
- Veterans Healthcare
- Veteran Service Officers (VSO)
Veteran CentersPension Maximization
After working for 20 years in the armed forces, the Armed Forces Benefits Network increases your pension payment every year.
Provision of TSP, 401K, and IRA
The TSP, 401K, and IRA offer a variety of advantages to the armed forces. The TSP provides tax and savings advantages to employees as other 401(K) private firms offer to their employees.
Survivors Benefit Plan
When a military person passes away while on service or after retirement, the Survivor Benefit Plan (SBP) offers financial assistance to the spouse or children of the deceased military member.
SBP pays eligible beneficiaries an annuity, which is a regular payment. The annuitant is the person who receives an SBP annuity.
Armed Forces Benefits provide spouse insurance. You get military benefits when your spouse is on duty or a retired service member. You must enroll in the Defense Enrollment Eligibility Reporting System with the help of your sponsor (DEERS) to be applicable for the insurance.
Qualified Retirement Plans
Members become eligible for retirement after 20 years or more of active service. For active duty retirees, there are three non-disability retirement schemes available.
These are the Military Retirement Reform Act of 1986 (more formally known as REDUX) plan, the High-36-Month Average plan, and the Final Pay plan.
FSGLI is a program offered to uniformed service members under the Department of Veterans Affairs administration of the SGLI family of life insurance policies. FSGLI offers a term life insurance payout of up to $100,000 for a member’s spouse and $10,000 for dependent children for members with basic full-time SGLI coverage.
The Armed Forces Benefits Network supports active military members, veterans, and other retirees of the military. They make sure you are taken care of during and after retiring from your job. Contact the Armed Forces Benefits Network for further information.