PMVVY – Insurance Term Policy

This pension plan is recently launched by the government of india to senior citizens with the aim of
pay regular pensions in their retirement, It provide social security in the old age.

  1. The people who want to participate in this scheme they doesn’t have any age limit, but must
    be join within the 60 years.
  2. The people who want to join in this scheme they can apply in both online and offline, and
    they will give you assurance and candidate will get 8% return amount over the 10 years
    period.
  3. And all the pensioners will get their pension at the end of the each periods like they will take
    after 3 months 6months or 1 year of the policy term.
  4. Incase the pensioner died in the policy period, all the purchase amount will be refunded to
    the nominee
  5. The pensioners who survive over the 10 years period, they will get purchase price along with
    the final pension instalments.
  6. Pensioners will get all the payments, at the end of each period which period they choose in
    their policy term.
  7. And the policy holder get 98% back if it was premature exit.
  8. Candidates will surrender or they want to withdraw their policy if they have any critical or
    emergency situation or the illness of their spouse or them, the people will get 98% surrender
    amount in their total purchase price.
  9. After the three years the individual people will get 75% loan amount on their purchase price.
    And the interest of loan will be adjustable with the pensions.
  10. This policy offers free look period, the offline purchase having 15 days and the online
    purchase having 30 days period, if they doesn’t like the policy are not satisfied with the rules
    participate can get all the purchase money back.
  11. It’s good for the senior citizens who are seeking for the regular income after the retirement.

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