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Consider the following statements about a scheme launched by the Government of India:
It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).
Identify the scheme.
It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).
Identify the scheme.
- a)Pradhan Mantri Swasthya Suraksha Yojana
- b)Pradhan Mantri Vaya Vandana Yojana
- c)Liveability Index Programme
- d)Rashtriya Vayoshri Yojana
Correct answer is option 'D'. Can you explain this answer?
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Consider the following statements about a scheme launched by the Gover...
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which is available from 4th May 2017 to 31st March 2020.
This is a simplified version of the VPBY and will be implemented by the Life Insurance Corporation (LIC) of India.
This is a simplified version of the VPBY and will be implemented by the Life Insurance Corporation (LIC) of India.
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Consider the following statements about a scheme launched by the Gover...
Pradhan Mantri Vaya Vandana Yojana
The correct answer is option 'B', Pradhan Mantri Vaya Vandana Yojana. Let's explore the scheme in detail:
Introduction:
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a scheme launched by the Government of India. It aims to provide social security during old age and protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions.
Objective:
The main objective of PMVVY is to enable old age income security for senior citizens. It does so through the provision of an assured pension/return linked to the subscription amount based on government guarantee to the Life Insurance Corporation of India (LICI).
Features:
The scheme offers the following features:
1. Eligibility: Any Indian citizen aged 60 years and above is eligible to avail the benefits of PMVVY.
2. Investment: The scheme requires a one-time investment amount from the senior citizen. The minimum purchase price is Rs. 1,50,000, and there is no maximum limit. The investment can be made either in a lump sum or through installments.
3. Pension Option: PMVVY offers an option of pension payment modes, i.e., monthly, quarterly, half-yearly, or yearly. The pension payment is directly credited to the bank account of the senior citizen.
4. Pension Amount: The scheme provides an assured pension at the rate of 7.4% per annum for the entire policy term. The pension is payable for the policy term of 10 years.
5. Policy Term: The policy term for PMVVY is 10 years. In case the policyholder survives the policy term, the purchase price along with the final pension installment is paid to the policyholder.
6. Loan Facility: After completion of three policy years, the policyholder is eligible for availing a loan against the PMVVY policy. The maximum loan amount available is 75% of the purchase price.
7. Surrender Value: In case of an emergency, the policyholder can surrender the policy after completion of three policy years. The surrender value payable is 98% of the purchase price.
Conclusion:
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a government scheme aimed at providing social security to senior citizens aged 60 years and above. It offers an assured pension/return linked to the subscription amount based on government guarantee to the Life Insurance Corporation of India (LICI). The scheme provides financial stability and income security during old age, protecting against uncertain market conditions.
The correct answer is option 'B', Pradhan Mantri Vaya Vandana Yojana. Let's explore the scheme in detail:
Introduction:
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a scheme launched by the Government of India. It aims to provide social security during old age and protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions.
Objective:
The main objective of PMVVY is to enable old age income security for senior citizens. It does so through the provision of an assured pension/return linked to the subscription amount based on government guarantee to the Life Insurance Corporation of India (LICI).
Features:
The scheme offers the following features:
1. Eligibility: Any Indian citizen aged 60 years and above is eligible to avail the benefits of PMVVY.
2. Investment: The scheme requires a one-time investment amount from the senior citizen. The minimum purchase price is Rs. 1,50,000, and there is no maximum limit. The investment can be made either in a lump sum or through installments.
3. Pension Option: PMVVY offers an option of pension payment modes, i.e., monthly, quarterly, half-yearly, or yearly. The pension payment is directly credited to the bank account of the senior citizen.
4. Pension Amount: The scheme provides an assured pension at the rate of 7.4% per annum for the entire policy term. The pension is payable for the policy term of 10 years.
5. Policy Term: The policy term for PMVVY is 10 years. In case the policyholder survives the policy term, the purchase price along with the final pension installment is paid to the policyholder.
6. Loan Facility: After completion of three policy years, the policyholder is eligible for availing a loan against the PMVVY policy. The maximum loan amount available is 75% of the purchase price.
7. Surrender Value: In case of an emergency, the policyholder can surrender the policy after completion of three policy years. The surrender value payable is 98% of the purchase price.
Conclusion:
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a government scheme aimed at providing social security to senior citizens aged 60 years and above. It offers an assured pension/return linked to the subscription amount based on government guarantee to the Life Insurance Corporation of India (LICI). The scheme provides financial stability and income security during old age, protecting against uncertain market conditions.
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Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer?
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Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer?.
Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Defence.
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ample number of questions to practice Consider the following statements about a scheme launched by the Government of India:It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).Identify the scheme.a)Pradhan Mantri Swasthya Suraksha Yojanab)Pradhan Mantri Vaya Vandana Yojanac)Liveability Index Programmed)Rashtriya Vayoshri YojanaCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Defence tests.
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