Lic Varishtha Pension Bima Yojana 80C Pension Scheme for Senior Citizens

What is Varistha Pension Yojana It is a senior citizen pension scheme This scheme is launched by government of India and incorporated by LIC in 2014-2015 again This scheme is offered a return of 9.3% Per annum People also take loan against their policy after 3 years of policy period. No Medical Check-Ups Need for this LIC Scheme

Bima Benefits & Features LIC Varishata Bima Yojana first introduced by NDA Government This Pension Scheme is only for 60 years old or above Policyholder only needs to pay 2% load charges when exit Policyholder can choose various mode of payment for premium as 1 month, 3 month, 6 month, 1 year Early availability of surrender value if any critical cases and illness happens This plan gives the option of receiving pension monthly , quarterly, half-yearly and yearly.

Bima Benefits & Features Policyholder can surrender his or her policy after 15 years of policy It has also tax benefits as under section 80C It has cancellation facility too with in 15 days of receipt of documents if does not satisfy with the condition and term of the policy. It can be Easily combined with other pension scheme like PF, mutual funds, endowment policy etc. On death the beneficiaries will get back the amount that was used by the pensioner to take out the policy

Documents Required on Tenure Need to fill an application form Address Proof Passport/ Voter's Identity Card/ Driving License/ Aadhaar Letter/Card/ NREGA Card/ PAN Card Need to submit existence certificates at specified time of intervals

Documents Required on Surrender Need to submit original policy document Policy discharge Form Proof of medical Treatment Age Proof

On Payment of Death Benefits Original Policy Document Claiming Form Necessary bank details Death proof Age Proof

Get More Details For LIC Varishta Pension Bima Yojana Thanks For Watching