LIC customers ALERT! Insurer launches campaign to revive lapsed policies - All you need to know

LIC Policy Revival Campaign: State-owned Life Insurance Corporation of India has launched a special campaign for policyholders. The campaign allows policyholders to revive lapsed LIC policies.

The special campaign covers all non-ULIP policies. The insurer is offering discounts on late fees in order to allow the policyholders to revive lapsed policies. 

The campaign is launched to benefit policyholders who couldn't pay premiums due to certain circumstances and their policy lapsed. The special campaign will end on October 21, LIC said in a Tweet on Wednesday.

“LIC brings a distinctive Special Revival Campaign from 17 August to 21 October for its customers to revive their individual lapsed LIC policies. This campaign is a unique drive as it extends to all non-ULIP policies with very attractive concession in late fee," LIC said in a statement.

LIC GIVES A UNIQUE OPPORTUNITY FOR POLICYHOLDERS TO REVIVE THEIR LAPSED POLICIES.#LICI #LIC pic.twitter.com/fItYZsZKry

— LIC India Forever (@LICIndiaForever) August 17, 2022

Under this Special Revival Campaign except for ULIP policies, all policies can be revived within 5 years from the date of the first unpaid premium subject to policy conditions, the insurance behemoth said.

There is a 100 per cent waiver of late fee for Micro Insurance Policies to facilitate the affordable restoration of risk cover, it said. There are, however, no concessions in medical requirements.

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