PRADHAN MANYRI VAYA VANDANA YOJNA.

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 : 14,45,783• Halfly : 14,76,015• Quarterly : 14,90,683• Monthly : 15,00,000

Min-Max Pension Limit :

• Minimum Pension:Rs. 1,000/- per MonthRs. 3,000/- per QuarterRs. 6,000/- per Half-yearRs. 12,000/- per Year

• Maximum Pension:Rs. 10,000/- per MonthRs. 30,000/- per QuarterRs. 60,000/- per Half-yearRs. 1,20,000/- 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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