Big opportunity for LIC policyholders! Revive your lapsed policies, window open till THIS date

For the purpose of reviving your lapsed policies, LIC has launched a Special Revival Campaign from 23rd August,2021 to 22nd October 2021, for individual lapsed policies.

Image Courtesy: Twitter/@LICIndiaForever

New Delhi: Life Insurance Corporation of India (LIC) is offering an excellent opportunity for policyholders to revive their lapsed policies.

For the purpose, LIC has launched a Special Revival Campaign from 23rd August,2021 to 22nd October, 2021, for individual lapsed policies.

“To provide continued Risk Cover in these uncertain times, LIC has come up with an excellent opportunity for revival of lapsed policies,” said LIC.

In view of the prevailing circumstances, concessions are being offered in late fee for other than Term Assurance and High Risk Plans, depending on the total premiums paid. There are no concessions on medical requirements. Eligible Health and Micro Insurance plans also qualify for the concession in late fee.

Under this Special Revival Campaign, Policies of specific eligible plans can be revived within 5 years from date of the First Unpaid Premium subject to certain terms and conditions.

Concession In Late Fee For Eligible Policies (High risk plans like Term Assurance and Multiple Risk Policies etc are not eligible for the concession)

Total Receivable Premium	Percentage allowed in late fee concession	Maximum Concession Allowed
Upto Rs.1,00,000	20%	Rs.2000
From 1,00,001 to Rs.3,00,000	25%	Rs.2,500
From 3,00,001 and above	30%	Rs.3000

Policies which are in a lapsed condition during the premium paying term and not completed policy term are eligible to be revived in this campaign, said LIC.

“The campaign is launched for the benefit of those policyholders whose policies lapsed as they were not able to pay premiums on time due to unavoidable circumstances. It always makes better sense to revive an old policy to restore insurance cover. LIC values its Policyholders and their desire to stay protected. This campaign is a good opportunity for LIC’s Policyholders to revive their policies and restore life cover and ensure financial security for their family,” an LIC statement said.