Pradhan Mantri Vaya Vandana Yojana

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 and yearly. The pension payment shall be through NEFT OR Aadhar 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 Month Rs. 3,000/- per Quarter Rs. 6,000/- per Half-year Rs. 12,000/- per Year • Maximum Pension: Rs. 10,000/- per Month Rs. 30,000/- per Quarter Rs. 60,000/- per Half-year Rs. 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.