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Pradhan Mantri Vaya Vandana

156,658.00

Pradhan Mantri Vaya Vandana Yojana (Plan No. 856) is a Government subsidized Scheme which shall provide an assured return of 7.4% p.a.payable monthly (i.e. equivalent to 7.66% p.a.) on the pensioner surviving during the policy term of 10 years for citizens aged 60 years and above.

Description

Plan :Pradhan Mantri Vaya Vandana Yojana (856)

Product Summary :
Pradhan Mantri Vaya Vandana Yojana (Plan No. 856) is a Government subsidized Scheme which shall provide an assured return of 7.4% p.a.payable monthly (i.e. equivalent to 7.66% 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 : 7.66
• Halfly : 7.52
• Quarterly : 7.45
• Monthly : 7.40

Minimum Entry Age :
60 Year Completed

Maximum Entry Age :
No Limit

Minimum Sum Assured :
• Yearly : 1,56,658
• Halfly : 1,59,574
• Quarterly : 1,61,074
• Monthly : 1,62,162

Maximum Sum Assured :
• Yearly : 14,49,086
• Halfly : 14,76,064
• Quarterly : 14,89,933
• 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. 9,250/- per Month
Rs. 27,750/- per Quarter
Rs. 55,500/- per Half-year
Rs. 1,11,000/- 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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Additional information

Plan

Pradhan Mantri Vaya Vandana Yojana (856)

Product Summary

pmvvy

Premium Paying Mode

singlepremium

Annuity Mode

pmvvy

Policy Benefits on Death

pmvvy

Surrendered Value

pmvvy

Loan

Loan (up to 75% of subscribed amount) can be availed after 3 years from the Date of Commencement.

Income Tax Benefit

Premium paid under this plan is eligible for TAX rebate under section 80c. • Maturity under this plan is free under sec 10(10D).

Proposal Form

300 shall be used under this plan.

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