Plan :Pradhan Mantri Vaya Vandana Yojana(842)
Product 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
• Halfly : 8.13
• Quarterly : 8.05
• Monthly : 8.00
Minimum Entry Age :
60 Year Completed
Maximum Entry Age :
No Limit
Minimum Sum Assured :
• Yearly : 1, 44, 578
• Halfly : 1, 47, 601
• Quarterly : 1, 49, 068
• Monthly : 1, 50, 000
Maximum Sum Assured :
• Yearly : 7, 22, 892
• Halfly : 7, 38, 007
• Quarterly : 7, 45, 342
• Monthly : 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.
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.
