Pradhan Mantri Vaya Vandana Yojana-LIC

Pradhan Mantri Vaya Vandana Yojana-LIC

Pradhan Mantri Vaya Vandana Yojana-LIC

Pradhan Mantri Vaya Vandana Yojana-LIC- Introduction


Under Pradhan Mantri Vaya Vandana scheme senior citizens can get up to 8.3% guaranteed the return for 10 years. The Government of India has announced enhancement in the budget speech of 2018-19 Pradhan Mantri Yojana under Vandana Yojana 1.5 million per senior. The period of sale of the citizen’s scheme has been extended up to March 31, 2020. This post will give you complete details and benefits of Pradhan Mantri Vaya Vandana Yojana.

Pradhan Mantri Vaya Vandana scheme is one of the best senior citizen saving scheme in India.  LIC of India has been given the exclusive privilege of running this scheme. This plan can be purchased offline as well as online. To purchase this plan online please login to our website www.licindia.in.

Pradhan Mantri Vaya Vandana Yojana-LIC- Benefits :


  • Pension Payment:

If the survival of the pensioner during the 10-year policy term, the pension in payment (AT the end of each period in the chosen mode) will be payable.

  • Death Benefit:

In case of death of policy over 10-year policy term, the purchase price will be paid please return to the beneficiary.

  • Maturity Benefit:

At the end of the policy term of 10 years, if the pensioner survives the cost of the pension the final pension will be payable with the premium.

Pradhan Mantri Vaya Vandana Yojana-LIC- Eligibility Conditions and Other Restrictions:


a) Minimum Entry Age: 60 years (completed)
b) Maximum Entry Age: No limit
c) Policy Term : 10 years
d) Minimum Pension: Rs. 1,000/- per month
Rs. 3,000/- per quarter
Rs.6,000/- per half-year
Rs.12,000/- per year
e) Maximum Pension: Rs. 10,000/-per month
Rs. 30,000/-per quarter
Rs. 60,000/- per half-year
Rs. 1,20,000/- per year

 

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