Veterans are entitled to various benefits and discounts through special insurance programs. These discounts are separate from normal benefits they receive from their insurance policies. Many insurance companies and policy makers recognize the efforts that veterans have made through service for the nation and offer insurance policies at discounted rates.
There are a variety of insurance discounts that veterans can benefit from such as for business insurance, motor insurance, and health insurance plan. Most discounted insurance policies provide lower premiums for veterans. These reduced premiums are one way insurance policy makers give back into the community through veterans.
In order to benefit from the discounts, veterans are often required to verify their records of service. There are a number of factors that affect the kind of insurance discounts that a veteran can receive. These are prerequisites that veterans must meet in order to receive a higher discount. These include the amount of time served, any injuries or disabilities incurred as well as losses.
Different Types of Insurance Discounts
There are several kinds of insurance that veterans can obtain including:
Motor/Auto Insurance Discount – Veterans are entitled to motor insurance discounts. This is a common kind of veteran insurance discount. Veterans can receive premium discounts on vehicles such as cars, motorcycles, sports bikes and others. In most cases, the auto insurance discounts are given out on personal auto insurance plans. Many motor insurance companies are able to provide vehicle insurance discount at up to 20% off premium to veterans. Other organizations such as the AARP also provide personal auto insurance discounts for veterans. Some of the companies helping veterans are Geico, Cheap Car Insurance, and USAA just to name a few.
Health Insurance Discounts: Veterans are also entitled to health discounts. Depending on the type of health policy plan, veterans can receive discounts for health insurance. The discounts for health insurance can cover individual and family health insurance depending on the type of policy.
Discounted Life insurance – Most veterans are covered by some kind of life insurance policy such as term or whole life insurance. There are a number of veteran premium discounts available for life insurance.
Veteran Group Discounts
There are further premium life insurance discounts that are also available through group insurance programs for veterans. One such discount is through the Veterans Mortgage Life insurance program. The VMLI program is designed to help pay off for the mortgages of veterans who may suffer an untimely death while on duty. Group life insurance is another kind of insurance that veterans can also receive premium discounts from.
Finding the discounts on insurance for veterans is a matter of just enquiring from your policy maker to find out if there is a discount for veterans. Most insurance companies have some kind of discount available.
When applying for any kind of veteran discount, it is essential to obtain all the necessary information on the circumstances that surround a veteran’s service and duty when applying for the discounts available. This makes the process of handling the premium discounts much easier.