Surety1 Honors Veterans and Helps You Protect Their Interests
Surety1 would like to thank all veterans for their service. We are pleased to offer Veteran Affairs Custodian Surety Bonds as one of our products because we believe in protecting the benefits of American veterans.
What is a Veteran Affairs Custodian Surety Bond and why do I need one?
A Veteran Affairs Custodian Surety Bond is a fiduciary bond. The U.S. Department of Veteran Affairs Fiduciary Program oversees appointed family members, friends or qualified professional individuals or organizations that manage V.A. benefit payments to beneficiaries who are incapable of managing their own accounts. If the estate of a veteran who is no longer with us is made payable to family members or if their beneficiary cannot manage the funds, the Department of Veteran Affairs wants to protect the estate of the veteran against mismanagement or wrongdoing.
Click Here to learn more about the VA Custodian bond requirements from the Department of Veteran’s Affairs
How do I get a Veteran Affairs Custodian Surety Bond and how much does it cost?
This type of bond is based solely on your personal credit history. The V.A. will decide the bond amount— it is an amount that will cover assets remaining in the estate of a veteran in addition to annual benefits. Surety1 works with several markets that service this specialized bond. Insurers require that your FICO score is 650 or above for this type of bond. In order to find out if you qualify for a VA Custodian surety bond, Surety1 will run a soft inquiry on your credit (a soft inquiry does not affect your credit score in any way). Once we have the documents we need, you can fill out our application form and we will get back to you quickly with a firm quote for your Veteran Affairs Custodian Surety Bond. Once you provide payment and your signed agreement, you will receive your bond!