LIC relaunches Varishtha Pension Bima Yojana (Available for sale to General Public from 16th August, 2014 to 14th August, 2015)
Key points
Age of Entry: 60+
Maximum Sum Assured: 600000+tax
Interest - 9% (This is a Government subsidized Scheme which shall provide an assured return of 9% p.a. payable monthly (i.e. equivalent to 9.38% p.a.).
Penionable - Monthly, Quartely, Half-Yearly and yearly
Key points
Age of Entry: 60+
Maximum Sum Assured: 600000+tax
Interest - 9% (This is a Government subsidized Scheme which shall provide an assured return of 9% p.a. payable monthly (i.e. equivalent to 9.38% p.a.).
Penionable - Monthly, Quartely, Half-Yearly and yearly
Maximum pension payable - 60000 per family
Surrender Value :
Surrender case 1: (Before the completion of 15 years of the policy) Critical illness of self/spouse: 98% of purchase price
Surrender case 2: After completion of 15 years of policy 100% of purchase price.
Loan:
Loan facility is available after completion of 3 policy years. The maximum loan that can be granted shall be 75% of the Purchase Price.
Loan:
Loan facility is available after completion of 3 policy years. The maximum loan that can be granted shall be 75% of the Purchase Price.
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