VARISHTHA PENSION BIMA YOJNA – T.NO.828 K.SANKAR, SBA

VARISHTHA PENSION BIMA YOJANA – T.NO.828 Revival of Varishtha Pension Bima Yojana from 16 th Aug 2014 Salient Features: Pension 9%p.a.payable monthly (i.e. equivalent to 9.38% p.a.) No maximum age at entry Min pension 500 to max 5000 pm 75% loan after 3 years Surrender after 15 years or critical/terminal illness Std. and NSAP I, II, III accepted

Max Pension: Rs.5000 p.m. Rs qly Rs hly Rs yly Min Pension: Rs.500 p.m. Rs.1500 qly Rs.3000 hly Rs.6000 yly DEATH: Return Of Purchase Price Min Age: 60 years L.B.D. ; No Max Age Mode Of Pension: Yearly or Half-yearly or Quarterly or Monthly Immaterial of Age: Pension for Rs.1000 Purchase Price Yearly : Rs p.a. Half-yearly : Rs p.a. Quarterly : Rs p.a. Monthly : Rs p.a. Pensioner can choose either Pension Or Purchase Price Pension Mode Min P.P.Max P.P YearlyRs.63,960Rs.6,39,610 Half-yearlyRs.65,430Rs.6,54,275 QuarterlyRs.66,170Rs.6,61,690 MonthlyRs.66,665Rs.6,66,665 Excluding Service Tax

SURRENDER: After 15 years or for Critical or Terminal illness of Self or Spouse LOAN: 75% of P.P. after 3 yrs Interest will be recovered from pension payable frequency Commission to Agents: 0.1% Dev. Officers Credit: 0.3% (Both Net of Taxes) Proposal Form: 470 (Rev) Age Proof: Std and NSAP I,II,III No Stamp Declaration with Notary is necessary for Self Declaration No Medical Examination is needed Maximum is per FAMILY Family: Self, Spouse & Dependents For all put together Rs.5000/Mly ; Rs.15000/ Qly ; Rs.30000/Hly ; Rs.60000/Yly KYC / AML should be adhered Income proof of Bank Pass Book is a must TARGET GROUP: Pensioners Forum or Senior Citizens Forum It will be BUYERS market Great opportunity to get entry