LIC launches special revival campaign for lapsed policies with attractive concessions

The initiative aims to help policyholders reinstate their insurance coverage and ensure continued financial protection.

According to a statement issued by LIC: “Concession is being offered on the late fee for all Non-Linked Insurance Plans up to 30% of the late fee, subject to a maximum of Rs. 5,000, if eligible for revival under the scheme.”

Under this campaign, policies can be revived within five years from the date of the first unpaid premium, subject to satisfaction of the policy’s terms and conditions. Only policies that lapsed during the premium-paying term and have not yet completed their policy term are eligible. There are no concessions on medical or health requirements.

The campaign is designed to support policyholders who were unable to pay premiums on time due to unfavorable circumstances, allowing them to restore their insurance cover and secure the full benefits of their policies. LIC emphasizes that reviving a lapsed policy is always advisable to maintain uninterrupted protection for policyholders and their families.

LIC reaffirmed its commitment to policyholder welfare, highlighting that this campaign provides an excellent opportunity to ensure financial security for loved ones while reinstating insurance coverage.