LIC of India new Varishtha Pension Bima Yojana will be launched on Independence Day 15th Aug, 2014. Varishtha Pension Bima Yojana is guaranteed pension plan for senior citizen. This scheme will be available from 15th Aug, 2014 to 14th Aug, 2015.
This pension yojana initiative is taken by government of India for the welfare of senior citizen of country. As per advertisement it is subsidize attractive pension scheme, with LIC as exclusive administrator. Let’s look at detail of this scheme.
LIC Varishtha Pension Bima Yojana
Eligibility – 60 years of age and above
Single Lump sum Premium –
- Minimum Rs 66,665 (For Monthly pension)
- Maximum Rs 6,66,6665
- Minimum Pension – Rs 500 per month
- Maximum Pension – Rs 5000 per month
- The pensioner will get pension during his entire lifetime
- Assured return of 9% monthly (9.38% annually)
- On demise of pension, Nominee receives pension price
- Pension payment method – Monthly, Quarterly, Half Yearly, Yearly for life time
For more information refer to following poster by Government on Varishtha Pension Bima Yojana.
For More Information visit LIC Site.