If your LIC policy has lapsed, then you have a chance till October 22.
Life Insurance Corporation of India is starting a special revival campaign from today i.e. 23rd August. Under this, you can start your closed policy anytime between 23 August to 22 October.
Giving this information, LIC has said that under a special revival campaign, the customer will be given a discount on the total premium for this. However, no relaxation will be given on whatever medical requirements are there. Late fees will be waived on both macro insurance and health late fees. Under this special revival campaign, those special insurance can be started, which are lying closed for less than 5 years. However, there will be no discount on term insurance and multiple risk policies. For this you have to pay full fee.Also Read: Know New Rules related to air bag and Air bag mandatory for every car check here all details
— LIC India Forever (@LICIndiaForever) August 23, 2021
Up to 30% off
LIC has said that on insurance with an annual premium of Rs 1 lakh, a discount of 20 percent or a maximum of Rs 2 thousand will be available. Whereas, policies with an annual premium of Rs 1 lakh 1 to Rs 3 lakh will get a discount of 25% or a maximum of Rs 2,500. For policies with premium of Rs 3 lakh 1 and above, a discount of 30% or maximum of Rs 3 thousand will be available.Also Read: National Monetisation Pipeline Programme NPP to be presented by Finance Minister Nirmala Sitharaman
Must complete the term
Under this revival campaign, those insurance plans will be covered, which fulfill the policy term and meet the premium payment norms. LIC has said that this campaign has been launched for those customers who have not been able to pay the premium on time due to some reason. In the current policy, you will get the cover of the old policy.Also Read: LIC Bima Jyoti: Key features, benefits, all you need to know about the new policy