By Kayla Lowe
Veterans who served in the military and developed a disability while in military service or related to military service are eligible for what is known as VA (Veterans Administration) compensation. Compensation is basically monthly benefits that are paid to the veteran to compensate him for his incurred disability. You must be honorably discharged from the military to be eligible for compensation as well. The formula used to calculate compensation benefits for veterans is expressed in premade charts known as benefits rate tables.Look at the veteran's disability percentage rating, which can be found on the veteran's award letter he received from the VA. After filing a disability claim, the veteran will receive either an award letter that will contain a percentage on it indicating how disabled the VA rates the veteran or a refusal letter stating that there is not enough evidence to support the veteran's disability claim.
Access the VA benefits rate tables at the U.S. Department of Veterans Affairs website, vba.va.gov. Scroll to the compensation rate tables section.
Click on the link located under the most current year column. Locate the veteran's dependent status in the dependent status column of the table (examples of veteran's dependent status are veteran alone, veteran with spouse alone, etc.).
Locate the veteran's disability percentage rating from the remaining columns of the table (examples are 30 percent, 60 percent, etc.). The amount listed where the veteran's dependent status row and the veteran's percentage rating column meet is the veteran's monthly compensation benefits.
Multiply the veteran's monthly compensation benefits by 12 to calculate her yearly compensation benefits.
You will only receive benefits for dependent children up to the age of 18.
http://www.lenderva.com
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