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Pradhan Mantri Vaya Vandana Yojana/ प्रधानमंत्री वय वन्दना योजना (PMVVY) is an insurance policy-cum-pension scheme that entitles an alternate source of income to the senior citizens of the country. It is managed and operated by the Life Insurance Corporation of India (LIC).
Here is the application procedure for the PMVVY Scheme:
Applicants can buy the scheme both online and offline from LIC.
Offline:
- Individuals need to visit the nearest or preferred branch of LIC.
- Applicants need to decide the preferred purchase price or pension payment.
- After this, individuals need to fill up the application form and submit it along with required
document and the chosen amount.
Online:
- Visit the official website of the Life Insurance Corporation of India, or Click Here.
- Next, under ‘Buy Policy Online’ header, click on the “Pradhan Mantri Vaya Vandana
Yojana” option. - A new tab will open with four different options. From there click on the button no. 842 for
‘Buy Online’ option. A new page will appear on the screen; here you can select the ‘Click to
Buy online’ option from the left corner of page. - In this step, now you need to create an access ID to proceed further. You will require to
produce details such as name, email id, mobile number, date of birth, address and
servicing unit to generate the ID. You will get a nine digit access ID through SMS either on
your registered mobile number or email. - Now, you need to submit the Access ID, and hit the ‘Proceed’ button for the next step.
- Now, after selecting the preferred pension plan under Pradhan Mantri Vaya Vandana
Yojana, fill the application form, and upload the scanned copies of required documents and
proceed for payment. - Once successfully submitted, you will receive and acknowledgement number and policy
number.
