New LIC Lapsed Policy Rules: Now you can restart your policy without any charge, know till when you will get the chance
LIC: Life Insurance Corporation of India (LIC) has announced a big relief for policyholders. The company has launched a special revival campaign, under which policyholders can restart their lapsed policies
New LIC Lapsed Policy Rules: Life Insurance Corporation of India (LIC) has announced a big relief for policyholders. The company has launched a special revival campaign, under which policyholders can restart their lapsed policies. This campaign will run across the country from 18 August to 17 October 2025.
What is the offer?
During this campaign, LIC is giving a discount on late fee charges on late payment. Up to 30% discount will be given based on the premium amount of the policy, the maximum limit of which has been fixed at Rs 5,000. The special thing is that those with micro insurance plan will get 100% discount on late fees.
When does the policy lapse?
If a policyholder does not pay the premium on time, the policy grace period usually continues for 15 to 30 days. But if the premium is not paid even after this period, the policy lapses.
How to revive a lapsed policy?
- The policy can be restarted by paying the outstanding premium and interest.
- For this, LIC agent, nearest branch or customer service department can be contacted.
- The policyholder will have to bear the cost of the necessary medical test or report himself.
- The revival will be completely as per the terms and conditions of the policy.
Which policies will be revived?
- Only those policies can be revived which are within 5 years from the date of first missed premium.
- The premium-paying term of the policy should be completed and the policy should not have matured.
- Normal medical and health related check-ups will still be applicable.
LIC said that this step is for those people who could not pay the premium due to financial or personal reasons. Keeping the policy in force not only provides full insurance benefits but also strengthens the financial security of the family.
Why is this opportunity important?
This campaign is for a limited time. If you want to revive your policy, this is the right opportunity. Revival will restore your cover and your family will be protected from any financial crisis in the future.
Where to get information?
Policyholders can visit www.licindia.in for more information or contact LIC’s Central Office in Mumbai.
The post New LIC Lapsed Policy Rules: Now you can restart your policy without any charge, know till when you will get the chance first appeared on informalnewz.
News