LIC launches revival plan, can start missing policies again, know- how will benefit

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According to the insurance company, people who resume their policy under the revival plan will get 20% relief on late fees. Apart from this, there will be a discount of 25% on payments ranging from Rs 1 lakh to Rs 3 lakh.




In a major relief to the insured, the Life Insurance Corporation of India has started an offer to revive the lapsed insurance policies. For this, LIC has decided to start a revival plan from August 10 to October 9, i.e. from today, the customers whose policy has been lapse, they can reissue it. The country’s largest insurance company issued a statement saying, ‘This facility has been introduced in view of the current conditions. There are some plans on which this decision has been taken to provide this facility. According to LIC, those who have not completed 5 years since the first unpaid premium can continue the policy with certain conditions.



According to the insurance company, people who resume their policy under the revival plan will get 20% relief on late fees. Apart from this, there will be a discount of 25% on payments ranging from Rs 1 lakh to Rs 3 lakh. LIC said that such policies which have lapsed and whose duration has not expired till the Revival Plan, they can get benefit under this plan.

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