LIC’s Pradhan Mantri Vaya Vandan Yojana Plan No 842 is a plan which is Government Subsidized Scheme. It provides Return of 8% P.A. payable monthly (Equivalent to 8.30 % p.a) during policy term of 10 years. This plan is for the citizens above 60 years.
- Yearly: Minimum Rs. 1,44,578/- Maximum Rs. 7,22,892/-
- Half Yearly: Minimum Rs. 1,47,601/- Maximum Rs. 7,38,007/-
- Quarterly: Minimum Rs. 1,49,068/- Maximum Rs. 7,45,342/-
- Monthly: Minimum Rs. 1,50,000/- Maximum Rs. 7,50,000/-
- Yearly: 8.30 %
- Half Yearly: 8.13 %
- Quarterly: 8.05 %
- Monthly: 8.00 %
- Yearly: Minimum Rs. 12,000/- Maximum Rs. 60,000/-
- Half Yearly: Minimum Rs. 6,000/- Maximum Rs. 30,000/-
- Quarterly: Minimum Rs. 3,000/- Maximum Rs. 15,000/-
- Monthly: Minimum Rs. 1,000/- Maximum Rs. 5,000/-
Policy Term: 10 Years.
Premium Paying Term: Single Premium.
Entry Age: 60 years and above.
Policy Death Benefits:
In the case of death, full purchase price will be refunded to the nominee.
Liquidity Benefit: Policy holder can take a loan (up to 75% of the amount) under this policy after completion of 3 years of the Policy.
Surrender: Policy can be surrendered in special circumstances like critical illness of self or spouse. Surrender value in such cases shall be 98% of Purchase price.
An example of LIC’s Pradhan Mantri Vaya Vandan Yojana Table No. 842
|Age||60 years and |
|60 years and |
|Premium Paying Term||1||1|
|Policy Term||10 Year||10 Year|
|Basic Sum Assured||Rs. 1,50,000/-||Rs. 7,00,000/-|
|Premium||Rs. 1,50,000/-||Rs. 7,00,000/-|
|Monthly||Rs. 1,000/-||Rs. 4,667/-|
|Qurterly||Rs. 3,019/-||Rs. 14,088/-|
|Half Yearly||Rs. 6,098/-||Rs. 28,455/-|
|Yearly||Rs. 12,450/-||Rs. 58,100/-|
|On Death||Rs. 1,50,000/-||Rs. 7,00,000/-|
Above Calculations are approximate.