LIC PMVVY Brochure - Summary
LIC PMVVY Brochure is the official policy document and sales prospectus issued by Life Insurance Corporation of India (LIC) for Pradhan Mantri Vaya Vandana Yojana (Plan No. 856). The brochure explains the government pension scheme that provides guaranteed regular income to senior citizens aged 60 years and above for a 10-year policy term.
This PDF details purchase price limits, assured interest rates, surrender rules, and pension payout options. Subscribers can choose monthly, quarterly, half-yearly, or annual pension modes backed by a sovereign guarantee. Readers can also review the PMVVY Guidelines or download the PMVVY Form to check enrolment papers.
LIC PMVVY Policy Summary
Key features and limits of Pradhan Mantri Vaya Vandana Yojana under Plan 856 are summarized below:
| Policy Feature | Plan Details |
|---|---|
| Operating Agency | Life Insurance Corporation of India (LIC) |
| Plan Number | Table No. 856 (Modified) |
| Eligible Age | Minimum 60 Years (No Upper Age Limit) |
| Policy Duration | 10 Years |
| Maximum Purchase Price | ₹15 Lakh per Senior Citizen |
| Minimum Monthly Pension | ₹1,000 (Purchase Price: ₹1,62,162) |
| Maximum Monthly Pension | ₹9,250 (Purchase Price: ₹15,00,000) |
| Maximum Annual Pension | ₹1,11,000 (Purchase Price: ₹14,49,086) |
| Loan Facility | Up to 75% of purchase price after 3 policy years |
| Death Benefit | Full purchase price refunded to the nominee |
| Maturity Benefit | Full purchase price paid with the last pension installment |
In case of medical emergencies involving terminal illness of the pensioner or spouse, premature surrender is allowed with a 98% refund of the original purchase price.
How to claim PMVVY pension benefits
STEP 1 – Submit the policy bond and NEFT mandate form with a cancelled cheque at your servicing LIC branch.
STEP 2 – Verify that your bank account is linked with your Aadhaar card for direct pension credits.
STEP 3 – Submit the annual life certificate (Jeevan Pramaan) online or at the branch to continue yearly payouts.
STEP 4 – For policy inquiries or maturity payouts, contact the nearest LIC divisional office or check policy status on licindia.in.
