Government of India in the Union Budget 2014-2015, announced the revival of Varishtha Pension Bima Yojana.
|Minimum Entry Age||60 years (completed)|
|Maximum Entry Age||No limit|
Rs. 500/- per month
Rs. 1,500/- per quarter
Rs. 3,000/- per half-year
Rs. 6,000/- per year
Rs. 5000/- per month
Rs. 15,000/- per quarter
Rs. 30,000/- per half-year
Rs. 60,000/- per year
Pension Payment: During the lifetime of Pensioner, a pension in the form of immediate annuity as per mode chosen by the Pensioner shall be payable.
Death Benefit: On death of the Pensioner the Purchase Price shall be refunded.
Please visit LIC website for more information on this insurance policy.