Pradhan Mantri Vaya Vandana Yojana (Plan No. 856) is a Government subsidized Scheme which shall provide an assured return of 7.4% p.a.payable monthly (i.e. equivalent to 7.66% 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 and yearly. The pension payment shall be through NEFT OR Aadhar Enabled Payment System only.

 

Pension Rate :

• Yearly : 7.66

• Halfly : 7.52

• Quarterly : 7.45

• Monthly : 7.40

 

Minimum Entry Age :

60 Year Completed

 

Maximum Entry Age : No Limit

 

Minimum Sum Assured :

• Yearly : 1,56,658

• Halfly : 1,59,574

• Quarterly : 1,61,074

• Monthly : 1,62,162

 

Maximum Sum Assured :

• Yearly : 14,49,086

• Halfly : 14,76,064

• Quarterly : 14,89,933

• Monthly : 15,00,000

 

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. 9,250/- per Month

Rs. 27,750/- per Quarter

Rs. 55,500/- per Half-year

Rs. 1,11,000/- per Year

 

 

 

Policy Benefits :

On Death :

On death, the full purchase price will be refunded to nominee.

 

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 :

Loan (up to 75% of subscribed amount) can be availed after 3 years from the Date of Commencement.

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