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LIC Varishtha Pension Bima Yojana

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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

Pension –

  • Minimum Pension – Rs 500 per month
  • Maximum Pension – Rs 5000 per month

Benefit –

  • 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.

Varishtha Pension Bima Yojana

 

For More Information visit LIC  Site.

Shitanshu Kapadia
Shitanshu Kapadiahttps://moneyexcel.com/
Hi, I am Shitanshu Kapadia founder of moneyexcel.com. I have written 1750+ articles on this blog. I am PGDBA(marketing), engaged in blogging for 5 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. The purpose of this blog is to spread financial awareness and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.
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