Pradhan Mantri Vaya Vandana Yojana 2021 | Best Yojana

In today’s post, we are going to discuss a well-known insurance company which is known as Life Insurance of India by all Indian people. Pradhan Mantri Vaya Vandana Yojana Which was approved to be started by the Prime Minister, which has proved to be very good for senior citizens.

Talking about the additional information of the scheme, many types of pension schemes are already running smoothly by the Indian government to keep the people safe under India, but this type of pension scheme by the life insurance company is also different for the citizens. – Has proved beneficial in different forms.

Pradhan Mantri Vaya Vandana Yojana You get the benefit of those people who come in the category of senior citizens and they must have some kind of purchase and subscription according to the conditions of this mentioned insurance company, otherwise it is easy for any citizen to take advantage of this scheme. is not |

here we you Pradhan Mantri Vaya Vandana Yojana Start giving information about this scheme, we also want to tell that if you want to know any other questions apart from this scheme, then without hesitation you can know it through our website where we have mentioned many schemes. And in what ways those schemes have been beneficial for the citizens etc. have been described.

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Pradhan Mantri Vaya Vandana Yojana

What’s in this post?

This scheme was started by the Central Government on 4th May 2017 under this pre-determined amount of pension will be paid to those Indian citizens whose age is 60 years or more ordinarily called senior citizens.

Pradhan Mantri Vaya Vandana Yojana

At the time of launching this scheme by the Central Government, a validity time was fixed for it which was 31 March 2020, but after the scheme proved useful to senior citizens, the government has extended its validity by 3 years to 31 March 2023. |

Although we all know that nowadays many citizens have many financial problems in the era of inflation, due to which their financial condition is greatly affected, but under this scheme, they can save themselves due to sudden changes in income due to this increasing age. And keep the family members safe.

PradhanMantri Vaya Vandana Yojana

This scheme is given to senior citizens by the Central Government in the form of a social security, which has been implemented through Life Insurance Company of India and the senior citizens will be subscribed under this scheme by the insurance company only till March 31, 2023. Pradhan Mantri Vaya Vandana Yojana If we talk about the mode of payment, then this amount can be given by the company in the form of monthly, half yearly and yearly.

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Benefits of the plan

  • Under this scheme, the return rate of 7.40 percent per annum is ensured, after that this rate is changed in the coming year, although the return rate is marked at 7.40 percent even under the current financial year 2021-22.
  • The pension received from the policy taken by him for 10 years as per the method of payment received by the pensioner at the time of purchase will also be given in the same frequency. For example, if he wants to get this pension as monthly, then he will also get this pension amount at the end of that month itself.
  • And the best part is that this scheme has been kept beyond GST so that even if the pensioner spends his life till the end, that last installment is payable to him with the value close to it.
  • On the completion of 3 years of the policy, it is assured by the company that the buyer or the recipient can take 75 percent of that purchase price as a loan if he wants, brother can take this amount at limited interest and if we talk about today So this interest can also be deducted by the company from the coming installments.
  • This plan advises to withdraw this entire purchase amount in case of critical illness of the policy recipient himself or his spouse, before the condition of the sick person worsens, in which case this amount will be increased by the insurance company to 98. Percentage refund has been claimed.
  • During the 10 years of this policy, if the pensioner does not survive for any reason, then the amount of that purchase price is handed over to his relatives.

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Procedure to apply under the scheme

This Pradhan Mantri Vaya Vandana Yojana Under this, the process of application is divided into two parts, it can be done through both online or offline by the applicant. The systematic way of applying for both of them is attached below.

For Applying Online

  1. First of all you have to visit the official website of Life Insurance of India. https://www.licindia.in/ will need to be opened.
  2. In the second step write you above Products by going to the option Pension Plans have to click on
  3. where after Pradhan Mantri Vaya Vandana Yojana Click on it will be written Buy Online Press the tab.
  4. Where the form will be presented to you, fill in the necessary information Get Access ID Click on
  5. After sometime an ID will be sent to your mobile. Submit that ID in the page.
  6. After this, the page that opens will show many plans, choose your preferred plan from it and submit it by filling some additional information.
  7. In the last step you have to pay your plan amount online and after that the company will send your policy document to your email address.

For Applying Offline

  1. consumer direct LIC You can fill the form by visiting the branch.
  2. Attach the necessary documents along with the phone.
  3. Consumers can fill the form by visiting any city branch.
  4. Where the consumer can get the policy documents immediately by paying the premium at hand.

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Conclusion

In this post we have you Pradhan Mantri Vaya Vandana Yojana We have given complete information about this.

FAQ’s related to this plan
Pradhan Mantri Vaya Vandana Yojana Who can take advantage of?

The benefit of this scheme is for those people who have attained the age of 60 years or more who are known as senior citizens in the society.

Pradhan Mantri Vaya Vandana Yojana What is the rate of return per annum?

Under the scheme, the policy holder will receive the amount at the rate of 7.40 percent by the insurance company.

Pradhan Mantri Vaya Vandana Yojana For how many years will the pension be received?

Under the scheme, the policy holder will continue to receive this pension according to his method for 10 years.