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LIC - Varishtha Pension Bima Yojana (161)

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Fund Name:

Plan Group: Varishtha Pension Bima Yojana (161)

Product Type: Individual

Plan Objective: Retirement

Investment Objective

'VARISHTHA PENSION BIMA YOJANA' is a Government subsidized scheme announced for Indian Citizens aged 55 years and above, in the Union Budget 2003-04. The scheme will provide an Annual return of 9%.

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Benefits

  • Pension during the lifetime of the pensioner.
  • In the event of unfortunate demise of the pensioner, purchase price will be returned to the nominee/legal heir of the pensioner.
  • Exit option available after 15 years.
  • Loan facility available to the extent of 75% of purchase price after 3 years.

  • Entry Age Details

  • Indian Citizens aged 55 years and above are eligible.
  • Age proof required.
  • Premium to be paid by cheque, demand draft of Banker's cheque payable on the Branch of the Bank which is member of the Local Clearing House.

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