Plan Summary : Pradhan Mantri Vaya Vandana Yojana (Plan No. 842) is a Government subsidized Scheme which shall provide an assured return of 8% p.a.payable monthly (i.e. equivalent to 8.30% p.a.) on the pensioner surviving during the policy term of 10 years for citizens aged 60 years and above.
Premium Payment Mode: Single Premium
Mode of Pension payment:
• The modes of pension payment are monthly, quarterly, half-yearly & yearly.
• The pension payment shall be through NEFT OR Aadhaar Enabled Payment System only.
Pension Rate :
• Yearly : 8.30
• Half-yearly : 8.13
• Quarterly : 8.05
• Monthly : 8.00
Minimum Entry Age : 60 Year Completed
Maximum Entry Age : No Limit
Minimum Sum Assured :
• For Yearly Pension plan: 1,44,578
• For Half-yearly Pension plan: 1,47,601
• For Quarterly Pension plan: 1,49,068
• For Monthly Pension plan: 1,50,000
Maximum Sum Assured :
• For Yearly Pension plan: 7,22,892
• For Half-yearly Pension plan: 7,38,007
• For Quarterly Pension plan: 7,45,342
• For Monthly Pension plan: 7,50,000
Min-Max Pension Limit :
Minimum Pension: Rs. 1,000/- per Month, Rs. 3,000/- per Quarter, Rs. 6,000/- per Half-year, Rs. 12,000/- per Year.
Maximum Pension: Rs. 5,000/- per Month, Rs. 15,000/- per Quarter, Rs. 30,000/- per Half-year, Rs. 60,000/- per Year
Policy Benefits :
On Death : On death, the full purchase price will be refunded to nominee.
Policy Surrendered Value : Surrender would be allowed in special circumstances like critical / terminal illness of self or spouse. The Surrender Value payable in such cases shall be 98% of Purchase Price.
Loan Facility: Loan (up to 75% of subscribed amount) can be availed after 3 years from the Date of Commencement.
Mode of Pension payment:
• The modes of pension payment are monthly, quarterly, half-yearly & yearly.
• The pension payment shall be through NEFT OR Aadhaar Enabled Payment System only.
Pension Rate :
• Yearly : 8.30
• Half-yearly : 8.13
• Quarterly : 8.05
• Monthly : 8.00
Minimum Entry Age : 60 Year Completed
Maximum Entry Age : No Limit
Minimum Sum Assured :
• For Yearly Pension plan: 1,44,578
• For Half-yearly Pension plan: 1,47,601
• For Quarterly Pension plan: 1,49,068
• For Monthly Pension plan: 1,50,000
Maximum Sum Assured :
• For Yearly Pension plan: 7,22,892
• For Half-yearly Pension plan: 7,38,007
• For Quarterly Pension plan: 7,45,342
• For Monthly Pension plan: 7,50,000
Min-Max Pension Limit :
Minimum Pension: Rs. 1,000/- per Month, Rs. 3,000/- per Quarter, Rs. 6,000/- per Half-year, Rs. 12,000/- per Year.
Maximum Pension: Rs. 5,000/- per Month, Rs. 15,000/- per Quarter, Rs. 30,000/- per Half-year, Rs. 60,000/- per Year
Policy Benefits :
On Death : On death, the full purchase price will be refunded to nominee.
Policy Surrendered Value : Surrender would be allowed in special circumstances like critical / terminal illness of self or spouse. The Surrender Value payable in such cases shall be 98% of Purchase Price.
Loan Facility: Loan (up to 75% of subscribed amount) can be availed after 3 years from the Date of Commencement.
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