Apply Pradhan Mantri Vaya Vandana Yojana (PMVYY) at LIC

Central Government has launched a new old age pension scheme in the country named as Pradhan Mantri Vaya Vandana Yojana. From 21^st July, interested senior citizens including both male and female can apply online for the scheme. PMVVY 2017 Application Form are available through both online and offline medium. Pradhan Mantri Vaya Vandana Yojana Pension Plan can be purchase from official website of LIC India at http://www.licindia.in/. Other details including how to apply, last date, process fees, interest rates are below

How to Fill Pradhan Mantri Vaya Vandana Yojana (PMVYY) 2017 Application Form

Online application for the pension plan are available at LIC Website, while offline purchase can be made through office. Below we have discussed about online mode.

• Open official website of Life insurance corportation at www.licindia.in


• On the home page look for “ Pradhan Mantri Vaya Vandhan Yojana” show below


• Now click on it and next page you will find “Buy Online”


• Click on “Buy Online” mode and fill the application form details asked


• After this you have to make online payment using debit/ credit card or net bankling

Pradhan Mantri Vaya Vandana Yojana (PMVYY) Important Facts

• It will offer an assured interest 8% per annum payable monthly.


• Pensioner have option payable period from monthly/ quarterly/ half-yearly/ yearly basis.


• Customer have to choose the time of pension when in purchase plan for 10 years


• Policy will end on a term of 10 years. After end of first policy, annual purchase of pension plan is required


• One year of policy means 10 years


• Applicant will get loan of up to 75% to purchase pension plan after three policy years


• 98% of purchase price will get refund in case of critical illness of spouse or self for treatment.


• If in any case the pensioner die, the left amount will get refunded to his/ her benficery.

PM Vaya Vandana Yojana Minimum Premium Plan

Mode of Pension	Minimum Purchase Price	Coresponding Pension Amount
Yearly	1,44,578	12,000 per annum
Half-Yearly	1,47,601	6000 half year
Quarterly	1,49,068	3000 per qtr
Half Yearly	1,50,000	1,000 per month

PM Vaya Vandana Yojana Minimum Premium Plan

Mode of Pension	Maximum Purchase Price	Coresponding Pension Amount
Yearly	7,22,892	60,000 per annum
Half-Yearly	7,38,007	30,000 half year
Quarterly	7,45,342	15,000 per qtr
Half Yearly	7,50,000	5,000 per month

For PMVYY Pension Plan only applicants above 60 years of age can apply. For more details and info on Pradhan Mantri Pension Scheme click here