LIC PMVVY is Pension scheme of Govt of India administered by LIC. Anyone above 60 years may join Maximum investment limit is Rs 15 Lakh you get a pension of Rs 9250/- every month and after 10 years all the money is refunded to you. In case of your death all the money is returned to your nominee. This scheme is GST free. Other all insurance scheme you have to pay GST to Government