Pradhan Mantri Vaya Vandana Yojana (Plan No. 942) 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

1. Minimum Pension

  • Rs. 1,000/- per Month
  • Rs. 3,000/- per Quarter
  • Rs. 6,000/- per Half-year
  • Rs. 12,000/- per Year

2. 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.