LIC Policy Revival Campaign: There is an opportunity to restart the discontinued policy of LIC. Through this campaign you are also being given the benefit of exemption in fine.
LIC Lapsed Policy Revival: Life Insurance Corporation of India has crores of policyholders across the country. Many times people buy a policy, but due to some reasons are not able to pay the premium on time. In such a situation the policy lapses (LIC Policy Lapse). To revive this type of policy, LIC has launched a special campaign (LIC Policy Revival Campaign). It has been started between 1st September to 31st October. Let us know how the lapsed policy can be restarted.
What is the lapse policy?
The thing to note is that after purchasing the policy, premium has to be paid on annual, half-yearly, quarterly or monthly basis. If you do not deposit the premium within the stipulated period, then in such a situation the policy lapses. After this you have to pay a penalty to revive the policy. Only after this you can turn it on again.
LIC gave information on social media
Life Insurance Corporation of India, while sharing a tweet on its official Twitter handle, has written that LIC has launched a special revival campaign. Through this, customers are getting the benefit of huge discounts on re-activating the lapsed policy between September 1 and October 31, 2023. On premium of Rs 1 lakh, there is a discount of 30 percent in late fees i.e. a maximum of Rs 3,000. Whereas between 1 lakh to 3 lakh, 30% discount is available i.e. maximum Rs 3500 and on more than 3 lakh, 30% discount is available i.e. up to Rs 4000.
LIC’s Special Revival Campaign – An opportunity for policyholders to revive their lapsed policies #SpecialCampaign3.0@DFS_India @PMOIndia @DARPG_GoI pic.twitter.com/n4eoj3cJjR
— LIC India Forever (@LICIndiaForever) October 11, 2023
How to start the policy again
According to LIC, if you want to restart your lapsed policy, you can get it started by visiting the official website of licindia.in. Apart from this, you can also restart your LIC policy by visiting the nearest branch or agent of LIC.
