Lic Varishtha Pension Bima Yojana is a pension plan of Life Insurance Corporation of India in association with Government of India. Life Insurance Corporation of India’s Varishtha Pension Bima Yojana is a pension plan for the wellbeing of the senior citizen of India. A senior citizen who is the age of 60 or above can take this pension plan. Varishtha Pension Bima Yojana there is fixed amount of subsidy which is provided by the Government of India. The minimum sum of amount insured under this policy is 66,665 and maximum amount insured is 6, 66,665. The pension is transferred only through NEFT and ECS.