Pradhan Mantri Vaya Vandana Yojana(842)

Pradhan Mantri Vaya Vandana Yojana (UIN: 512G311V01)

  • Introduction:
    Government of India has announced Pradhan Mantri Vaya Vandana Yojana for citizen age 60 years and above. LIC of India has been given the sole privilege to operate this scheme. It has been decided to launch Pradhan Mantri Vaya Vandana Yojana on 4th May 2017. The scheme shall be available for one year from date of launch.
  • Benefits :
    1. Pension Payment :
      On survival of the Pensioner during the policy term of 10 years, pension in arrears (at the end of each period as per mode chosen) shall be payable.
    2. Death Benefit:
      On death of the Pensioner during the policy term of 10 years, the Purchase Price shall be refunded to beneficiary.
    3. Maturity Benefit:
      On survival of the pensioner to the end of the policy term of 10 years, Purchase price along with final pension installment shall be payable.