Mumbai: LIC gives a unique opportunity for policyholders to revive their lapsed policies by bringing a distinctive Special Revival Campaign from 17.08.2022 to 21.10.2022 for its customers to revive their individual lapsed LIC policies.
This Special Revival Campaign is a unique drive as it extends to all non-ULIP Policies with a very attractive concession in late fees. Under this Special Revival Campaign except for ULIP policies, all policies can be revived within 5 years from the date of the First Unpaid Premium subject to policy conditions
| Total Receivable Premium | % late fee concession | Maximum Concession allowed |
| Up to Rs.1,00,000 | 25% | Rs.2500/- |
| From 1,00,001 to 3,00,000 | 25% | Rs.3000/- |
| From 3,00,001 and above | 30% | Rs.3500/- |
LIC gives a unique opportunity for policyholders to revive their lapsed policies by giving a 100% waiver of late fees for Micro Insurance Policies to facilitate the affordable restoration of risk cover.
There are no concessions in medical requirements.
Policies except for ULIP Plans which are in lapsed condition during the premium paying term and not completed policy term as of the date of revival are eligible to be revived in this campaign.
The campaign is launched to benefit those policyholders who were not able to pay premiums due to unavoidable circumstances and their policy lapsed.
Life Insurance cover is a risk management, for contingent, unexpected loss of life. This campaign gives a rare opportunity for LIC’s valued policyholders to revive their lapsed policies and continue the benefit of insurance to protect the financial interests of their families.
