Product Specification-varishtha-pension-bima-yojana-plan

LIC Varishtha Pension Bima Yojana – Details About Premium This section will provide more details on the minimum or maximum amounts that can be paid under LIC Varishtha Pension Bima Yojana, sample pension rates and annuity rates. This will help you get a realistic picture of how much you need to pay and the amounts you will receive. LIC Varishtha Pension Bima Yojana – Maximum and Minimum Premium Amounts Under the LIC Varishtha Pension Bima Yojana plan, the amount of the single premium varies depending on how frequently the pension needs to be paid. For instance, if the pension has to be paid on a monthly basis, then the premium is more than when it has to be paid quarterly. This means that the premium is less for the annual pension payments. LIC Varishtha Pension Bima Yojana – Sample Pension Rates The sample pension rates under the LIC Varishtha Pension Bima Yojana provide an idea of how much pension a policyholder will receive on payment of a certain amount. For ease of reference, a sum of Rs. 1000 is taken as premium paid under the LIC Varishtha Pension Bima Yojana. LIC Varishtha Pension Bima Yojana – Annuity Rates The above sample pension rates for LIC Varishtha Pension Bima Yojana can be further elaborated for larger premium amounts. Let us look at the annuity rates for Rs. 100,000, Rs. 250,000 and Rs. 500,000. LIC Varishtha Pension Bima Yojana – Policy Details Grace Period: Grace period is not applicable. Policy Termination or Surrender Benefit: The policy can be surrendered after 15 years where the purchase price is refunded. On diagnosis of a Critical or Terminal Illness, the policy can be surrendered before 15 years and 98% of the Purchase Price is refunded. Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of cancelling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusion Loan is available under the plan after the completion of 3 year up to a maximum of 75% of the Purchase Price. The interest on the loan will be recovered from the annuity payments.