LIC Policy – Is Your LIC Policy Also Reasonable? Read this report by worrying and restarting your lapsed policy.
New Delhi: LIC Policy – If for any reason your LIC is lapsed policies, you can revive your policy. The company has launched a special revive drive. The campaign kicks off on January 7th and runs until March 6th, 2021. In this campaign, the company is giving customers the opportunity to restart the policy. But there are certain terms and conditions for this. Consumers who do not pay
their policy ( LIC ) premium for any unavoidable reason will benefit from this campaign. But the date of non-payment of premium for this should not be older than 5 years. In addition, the Late Fee can be redeemed to revive the policy.
1. How much exemption is available ?: The company said that it would waive 20% of the cost of renewing the policy. If the annual premium is between one and three lakhs, the Late Fee is Rs. There will be a 25 percent discount. 3,00,001 and above at a premium of Rs. 30 or 3,000 discounts available.
2. 1,526 Satellite Office: LIC authorizes 1,526 Satellite Sites to resume such policies and does not require special medical inspection during renewal.
3. What conditions will apply? : Some conditions have been imposed for this campaign. Only policies within 5 years will be revived. Some concessions will also be made for health-related needs. Most policies are restarted only on the basis of the Restore LIC Risk Cover and on questions about Kovid-19. It is noteworthy that the company has already launched a revival plan from August 10 to October 9, 2020.
4. There is no exemption benefit for these policies: The company has stated that it will not offer any kind of discount for high risk plans such as term insurance, health insurance, multiple risk policies. Only those policies that have lapsed the premium payment period and have not completed their policy period until the revival date can be revived in this campaign.
