Pradhan Mantri Vaya Vandana Yojana (UIN: 512G311V01)

Pradhan Mantri Vaya Vandana Yojana (UIN: 512G311V01)

Introduction:

Government of India has announced Pradhan Mantri Vaya Vandana Yojana for citizen age 60 years and above. LIC of India has been given the sole privilege to operate this scheme. It has been decided to launch Pradhan Mantri Vaya Vandana Yojana on 4th May 2017. The scheme shall be available for one year from date of launch.
This scheme can be purchased offline . To Purchase this scheme  please log on to our https://agentlickalka.blogspot.in/

Benefits : 

Pension Payment :

On survival of the Pensioner during the policy term of 10 years, pension in arrears (at the end of each period as per mode chosen) shall be payable.

Death Benefit:

On death of the Pensioner during the policy term of 10 years, the Purchase Price shall be refunded to beneficiary.

Maturity Benefit:

On survival of the pensioner to the end of the policy term of 10 years, Purchase price along with final pension installment shall be payable.

Eligibility Conditions (Plan No. 842)

Minimum Entry Age                                                                  60 Years (Completed)

Maximum Entry Age                                                                 No Limit

Policy Term                                                                               10 years

Minimum Pension                                                                     Rs. 1000 per month                                                                                                    Rs. 3000 per Quarter                                                                                                    Rs. 6000 per half year                                                                                                    Rs. 12000 per year

Maximum Pension                                                                     Rs. 5000 per month                                                                                                    Rs. 15000 per Quarter                                                                                                    Rs. 30000 per half year                                                                                                    Rs. 60000 per year

Ceiling of maximum pension is for a family as a whole i.e. total amount of pension under all the policies allowed to a family under this plan shall not exceed the maximum pension limit. The family for this purpose will comprise of pensioner, his/her spouse and dependents