Pradhan Mantri Vaya Vandana Yojana (PMVVY)

प्रधान मंत्री वाया वंदना योजना | Pradhan Mantri Vaya Vandana Yojana | Vaya Vandana Yojana 2018 | वाया वंदना योजना 2018 | PM Vaya Vandana Yojana in hindi | PMVVY

The vaya vandana yojana announced by the Indian government in budget 2017-18. This scheme is also called a lic senior citizen scheme, and the period of the scheme is extended to 31st March 2020 from 4th May 2017. pradhan mantri pension scheme will benefit the senior citizens aged 60 years and above.

PM Vaya Vandana Yojna benefits:

The benefit of pradhan mantri vaya vandana yojana (pmvvy) classified into three groups:

  1. Pension Benefit: After completion of your selected pension mode you were able to redeem your pension, for example, if you selected yearly mode then you will receive the pension after completion of the year.
  2. Death Benefit: If person death occurs during the period of 10 years, then purchase amount of policy will be refunded to the nominee.
  3. Maturity Benefit: After the completion of 10 years period the deposited amount with last due pension will be refunded to the holder.

Eligibility Conditions and Other Restrictions:

  • Minimum Entry Age: 60 years (completed)
  • Maximum Entry Age: No limit
  • Policy Term: 10 years
  • 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

Purchase Price and Mode of Purchase Price:

There are minimum and maximum purchase prices are given below with the payment modes, the person has the option to choose from the amount of pension and the Purchase Price.

Pradhan Mantri Vaya Vandana Yojana -Pmagreement.in

Pradhan Mantri Vaya Vandana Yojana -Pmagreement.in

There are different payment mode such as monthly, quarterly, half-yearly & yearly. the pensioner can pay via NEFT or Aadhaar Enabled Payment System.

Surrender Value Benefit

pmvvy scheme also permits to surrender to another person in exceptional cases. The nominee person will get 98% of current value.

Loan Benefit

lic vaya vandana yojana scheme also provides load benefits to pensioner maximum up to 75% of the Purchase Price but after completion of 3 years. the interest of loan will be recovered from pensions amount

Main benefits of Vaya Vandana Yojna:

i) pradhan mantri vaya vandana yojna will provide you with the pension benefit.
ii) You can manually select your payment mode and Purchase Price.
iii) You can surrender your value to the different person.
iv) You were avail for the loan after completion of 3 years.
v) After the completion of 10 years period, the deposited amount with last due pension will be refunded to the holder.

Buy Scheme

lic pradhan mantri vaya vandana yojana scheme can be purchased offline as well as online. To get the pradhan mantri vaya vandana yojana proposal form. please log on to website www.licindia.in.

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