The central government has announced another bumper offer for the elderly. The central government has introduced the Pradhan Mantri Vaya Vandana Yojana Scheme to support the elderly. This scheme will continue for three more years. The central cabinet has also approved. However, this scheme, run by LIC, will be available until 2023. The scheme introduced by the central government to ensure that to need not worry about money after retirement.
However, there is no need to undergo a medical test for the elderly who are enrolled in the scheme which is applicable to the 10 year period. The age verification card, Aadhaar card, and bank details are mandatory for the purchase of the policy. For a one-time premium, they will get 8.3 interest per annum. Under this scheme will get a pension of Rs 1000 to Rs. 5000. The central government has also given rights to take over the policy in case of emergency medical assistance or health problems. It can be used not only for the policyholder but also for the needs of his spouse but this Pradhan Mantri Vaya Vandana Yojana Scheme is only for senior citizens.
