DVA + Defence Financial Advice | VETERAN FINANCIAL CONNECT

Getting Financial Advice For Your DVA Offer

When going through the DVA claims process, should liability be accepted for conditions under MRCA with at least 50 or more impairment points, you will be entitled to financial advice with the cost covered by DVA - or when approved for and made an SRDP offer, it is mandatory to seek financial advice.

Due to the impacts that payment decisions and their interaction with other forms of government assistance, it is highly recommended that eligible veterans receive personal financial advice prior to making and decisions on payments.

DVA provides this opportunity to speak with a financial adviser at their expense, because they know the ins and outs of a PI offer can be complicated, and this opportunity is provided to veterans, for the benefits of a veteran.

Many veterans often think a financial adviser will just push you into investments, but our advisers are focused on helping veterans with the day to day money management side of things across: impacts of your PI or SRDP offer on other payments, paying down and managing debt, buying a property if that is what you want to do, and meeting day to day financial needs.

Veteran Financial Connect can connect you directly with a Financial Adviser to assist you getting the right advice, how those compensation offers could impact you and your family and any other payments you may receive, and can give you a projection on some of the plans you may have with your compensation offer such as buying a home or car.

Financial Advice for Defence Transitions

When making the decision to leave Defence and start the transitions process, there are many issues that a veteran has to be across and focus - housing, employment, meeting medical needs, providing for their family and ongoing bills and debts.

When transitioning, Australian Defence Force (ADF) members may be eligible to access professional financial advice, with a member being eligible to apply for professional financial advice within 24 months of their transition date.

Veteran Financial Connect believes this is an opportunity that every member who is going to transition from Defence, or has in the last 24 months, should take advantage of, and we can help connect you with a financial advisor and discuss what you need to be aware of post your discharge date.

Getting a thorough understanding of what costs you will be up for once you leave Defence, how to manage those expenses and getting an understanding of your financial position once you discharge is very important.

Veteran Financial Connect can help you access your Defence transition financial advice entitlement, and as approval may take up to 21 days, we encourage members transitioning to reach out to us at the earliest possible point in time.

Get Connected with a Financial Adviser

To speak with a financial adviser re your Defence Transitions, MRCA PI or SRDP offer, reach out to us: Phone: 0459 945 470

Email: info@veteranfinancialconnect.com.au

Connect with a Financial Adviser

Why Get Financial Advice

Getting financial advice when paid for by DVA, is always worth it, and for many veterans, sadly there is a lack of financial understanding particularly around how to best utilise the opportunity that serving and financial compensation payments can provide.

When offered the opportunity to obtain financial advice covered by DVA, or during your transition process, this can be an ideal opportunity to work with an experienced financial advisor that can go over your current and future situation, giving you an in-depth understanding of your overall financial position, impacts on any family tax and childcare benefits you receive, and the opportunities available to best maximise your financial opportunity and future.

Getting the right financial advice can be key in creating the financial future you deserve, and we want veterans to get unbiased advice from advisors who will not use that opportunity to push veterans into unsuitable and risky investments.

Financial advice can help you manage any debts, and plan for how to make your money last.

Special Rate Disability Pension (SRDP)

The SRDP provides an alternative form of compensation (instead of incaps), for people whose capacity for work has been severely restricted because of conditions due to military service on or after 1 July 2004.

SRDP can potentially be a cost of living measure to apply for when on incaps or Comsuper, with the potential discounts it can provide access to.

It costs nothing to apply for SRDP, and you do not have to accept an SRDP offer and choose to stay on Incaps and when you do, this will also allow you to get TPI on your DVA card - accessing a range of cost of living benefits.