Regarding Veteran’s Benefits – What is a Survivor Benefit Plan?
The Survivor Benefits Plan (SBP) is money paid by the Department of Defense to a surviving spouse, whose military retired spouse (typically 20 years plus in service) paid into the system. Accordingly, the surviving spouse receives income after the veteran’s death. However, SBP is taxable income; whereas, VA Benefits is non-taxable income.
Usually, monthly DIC is more than SBP. Consequently, the surviving spouse elects the greater (DIC), and relinquishes the other (SBP). However, if the SBP exceeds the DIC, the surviving spouse receives the difference between SBP and DIC.
To increase your monthly income, please contact us about a FREE HANDBOOK about VA Benefits, written by David Wingate, an accredited VA Attorney, of Senior Life Care Planning, LLC, go to firstname.lastname@example.org or if you require additional information about VA Benefits, visit our Senior LCP's Website.
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