If you have stopped paying for any LIC policy for a long time. In such a situation, if it is not becoming active again, then this news is of use to you. Let us tell you that you have got a chance to start it again. Because LIC is also giving special discounts for the next 10 days.
LIC Policy: Sometimes, we forget to pay our insurance on time and it stops working. But if you have an LIC policy which has not been active for some time, you can restart it now. And LIC is also giving a discount of up to Rs 4,000 for the next 10 days.
LIC is a company that sells insurance policies to people. Right now, they have a special offer for those who have let their insurance policy lapse. They have time till 31st October for this offer.
If you renew your policy during this time, you can not only retain your insurance coverage but also save up to Rs 4,000 on the amount you have to pay.
Lapsed policy occurs when the insurance policy of LIC (Life Insurance Corporation) is not renewed or paid within a certain time frame. LIC gives a grace period after the due date to pay the premium, but if payment is not made within that time, the policy will lapse.
However, you can get the policy back by paying the missed premium along with some additional charges and interest. LIC also has campaigns to help people revive their lapsed policies.
If any of your LIC (an insurance company) policy has been discontinued, you can restart it.
They are offering a special deal where you can get a discount on the amount of money you have to pay to get it restarted. The amount of discount will depend on how much money you paid earlier.
