Question
Which of the following schemes is administered by Life
Insurance Corporation?Solution
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is implemented through Life Insurance Corporation (LIC) of India. As per the scheme, on payment of an initial lump sum amount ranging from a minimum purchase price of Rs. 1, 50,000/- for a minimum pension of Rs 1000/- per month to a maximum purchase price of Rs. 7, 50,000/- for maximum pension of Rs. 5,000/- per month, subscribers will get an assured pension based on a guaranteed rate of return of 8% per annum, payable monthly.
Operating Margin can be numerically expressed in the form of following equation:-
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