PMVVY: Many kinds of schemes are being run to make the senior residents of the nation economically and socially affluent. One in all these schemes is Pradhan Mantri Vaya Vandana Yojana. This is a superb pension scheme. On this, a hard and fast return is given to senior residents each month. This scheme is run with the assistance of Life Insurance Company of India, the nation's largest public sector insurance coverage firm. Nonetheless, the deadline for this wonderful scheme has been mounted by LIC as thirty first March 2024 and until now no data has been given about extending it. In such a state of affairs, solely three days are left to avail the advantages of this scheme. This coverage was launched by LIC on May 4, 2017. The sooner deadline of this coverage was 31 March 2023, which was prolonged for one yr.
What’s the particular factor about this scheme?
Funding in Pradhan Mantri Vaya Vandana Yojana will get the advantage of minimal pension each month. Nonetheless, the pension quantity depends upon the quantity invested. On this scheme you possibly can make investments from Rs 1.5 lakh to Rs 15 lakh. On this, on an funding of Rs 1.5 lakh, you get a pension of Rs 1,000 each month. Whereas, on an funding of Rs 15 lakh, a pension of Rs 9,250 is out there. If each husband and spouse make investments on this scheme, they’ll get a pension of a minimum of Rs 18,500 monthly. Funding on this scheme must be made for 10 years. On this, you possibly can take your pension on annual, quarterly, half yearly and yearly foundation.
Additionally Learn: Earlier than the Lok Sabha elections, the federal government elevated the honorarium of MNREGA employees, these two states will get the utmost cash.
The way to apply
To use for this scheme, you possibly can apply offline or on-line. You are able to do it offline by visiting any LIC workplace or with the assistance of a registered agent of LIC. Together with this, you may also apply from LIC web site. There’s additionally a provision for nominee on this scheme. As a result of this, on the loss of life of the insured, the cash is given to the nominee.
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