LIC Launches Special Plan To Revive Lapse Policies

Life Insurance Corporation of India (LIC) has announced the launch of a special scheme called ‘Special Revival Campaign’ to revive Laps (stopped) policies . The campaign will run from August 10 to October 9 , during which customers can revive their lapses policy.

Under this scheme:
Policies of specific eligible schemes can be revived within five years from the date of the first unpaid premium under certain terms and conditions.

Also Read: Not a single rupee should be in a bank account! Still can withdraw money on need, this bank started this special scheme

While no concessions are being made to this medical requirement, some concessions in late fees may be allowed in addition to other high-risk plans.

Policies that have defaulted during the premium-payment period and have not completed the policy period as of the date of revision are eligible to be revived during the campaign.

The campaign has been launched to benefit the policyholders who were not able to pay the premium due to unavoidable circumstances and their policy lapses. It is always better to restart the old policy to restore the cover.

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