Pradhan Mantri Vaya Vandana Yojana 2021

By Manorama gupta on Jul 13, 2021

Pradhan Mantri Vaya Vandana Yojana 2021

This scheme is belongs to the Government of India but is operate by LIC. the maximum amount to invest under this scheme was earlier 7.5lakhs,but it has now been increased to Rs 15 lakhs,alon with it the deadline for investing in this PMVVY program 2021 was earlier 3 may 2018 which was grow to 31 march 2020. Has been given. Friends, in this article we are going to provide you all the information regarding the  Pradhan Mantri Vaya Vandana Yojana 2021,include the application process,instruction,eligibility and materials.

Highlights of PMVVY 2021

Name of Scheme

Pradhan Mantri Vaya Vandana Yojana

 

Objective

Providing all important information about Pradhan Mantri Vaya Vandana Scheme

Who launched?

Life Insurance Corporation of India

Year

2021

Launched

4th  MAY 2017 tO 31 March 2020

 

Benefits of PMVVY 2021

There are the following benefits of Pradhan Mantri Vaya Vandana Yojana.

  1. The monthly pension amount for the beneficiary can range from Rs.1000 to Rs.10, 000.
  2. If He\She dies within ten years of the policy term, the purchase price will be give return to his\her policyholder's nominee.
  3. Under this program, the beneficiary is not required to pay any GST.
  4. His country's senior citizens will become self-reliant.
  5. If policyholder lives the end of the policy term, which is 10 years, he will be paid the last pension installment along with the purchase price.

How to Apply of Pradhan Mantri Vaya Vandana Yojana

There are two methods for applying for the Pradhan Mantri Vaya Vandana Yojana: offline and online.

Online application of  Pradhan Mantri Vaya Vandana Yojana

To apply online, go to https://licindia.in/ which is the LIC' official website. You will be taken to the home page of this website after clicking on this link.

On the home page, you will find the registration option, click on it and you be taken to the registration form.

Fill all the required detail in the form, then attach the documents and submit it and in this way your application form will be complete.

Eligibility of PMVVY 2021

The following process should match to PMVVY.

  • He/she should be the minimum entry age 60 year old and no maximum age limit.
  • The large investment should be Rs.15 each citizen.
  • The minimum monthly pension should be Rs.1, 000/ and should not maximum than Rs. 10,000/ per month.
  • The policy term should be ten years.

 

Payment of the Purchase Cost

Individuals can buy the program by paying the purchase cost in Lumb sum plan. The pensioner has the option of choosing the amount of the purchase price or the amount of the pension he or she get. Under the various modes, the minimum and maximum prices are in the following table shows.

Mode of Pension(Rs.)

Minimum Purchase Price(Rs.)

Maximum Purchase Price(Rs.)

Half-yearly

1,47,601

14,76,015

Yearly

Rs. 1,44,578/-

Rs. 7,22,892/-

Monthly

Rs. 1,50,000/-    

Rs. 7,50,000/-

Quarterly

Rs. 1,49,068/-

Rs. 7,45,342/-

 

PMVVY Documents are required

  1. Mobile number
  2. Pan card
  3. Bank account passbook
  4. Passport size photo
  5. Aadhar Card

Pradhan Mantri Vaya Vandana Yojana Loan

the pensioner can get a loan on his policy  insurance  cost. However before that loan facility  becomes accessible of three policy years. Pensioner can get only 75% amount of purchase cost as borrow. the annual interest rate on the loan will be 10%.

Helpline Number of PMVVY

To begin, go to https://licindia.in/ which is the official website for the PMVVY