Home   »   LIC launches “PM Vaya Vandana Yojana”...

LIC launches “PM Vaya Vandana Yojana” for senior citizens

LIC launches "PM Vaya Vandana Yojana" for senior citizens_4.1

Life Insurance Corporation of India (LIC) has announced the launch of the Pradhan Mantri Vaya Vandana Yojana, which is a social security scheme for senior citizens. This plan starts from May 26 for three financial years up to March 31, 2023. LIC is solely authorised to work this scheme, which works as a Non-Linked, Non-Participating, Pension Scheme subsidised by the Centre.

Click Here To Get Test Series For SBI PO 2020

The policy term is of 10 years and for policies sold during the first financial year up to March 31, 2021, the scheme will provide an assured rate of return of 7.40 per cent once a year payable monthly (which is like 7.66 per cent per annum) for the whole duration of 10 years.

Important takeaways for all competitive exams:

  • Head office of LIC: Mumbai, Maharashtra.
  • Chairman of LIC: M R Kumar.
  • LIC Established: 1 September 1956.

Find More Business News Here

LIC launches "PM Vaya Vandana Yojana" for senior citizens_5.1

Leave a comment

Your email address will not be published. Required fields are marked *