LIC said in a statement that under this scheme, up to 30 percent discount is being given in late fees for all non-linked i.e. term insurance policy schemes if eligible for revival, which can be up to a maximum of Rs 5000.
The country’s largest insurance company, Life Insurance Corporation of India (LIC), made a big announcement on Monday. Public sector LIC said that it has started a campaign to restart the discontinued personal insurance policy. This special campaign will be run for one month. This campaign to restart the discontinued insurance policy has started on Monday, 18 August and will run till 17 September 2025. Under this campaign, attractive discounts will be given in late fee to start the policy.
100 percent waiver of late fees for micro insurance policies
LIC said in a statement that under this scheme, up to 30 percent waiver is being given in late fees for all non-linked i.e. term insurance policy schemes, if eligible for revival, which can be up to a maximum of Rs 5000. At the same time, 100 percent waiver is being given in late fees for micro insurance policies (insurance policies for low-income families or individuals). Under this special revival campaign, the policy can be started within 5 years from the date of the first unpaid premium, if the terms and conditions of the policy are fulfilled.
LIC offers an excellent opportunity for revival of lapsed policy.#LIC #LapsedPolicy pic.twitter.com/UQFj2lNtSr
— LIC India Forever (@LICIndiaForever) August 18, 2025
No concession on medical/health requirements
The company has said in its statement that no concession will be given on medical/health requirements. Policies which have expired during the premium payment period and whose policy term has not been completed can be restarted in this campaign. According to the statement, this campaign has been started for the benefit of those policyholders who were not able to pay the premium on time due to any adverse situation. LIC said in the statement, “It is always advisable to revive the old policy and restore the insurance cover.”
Most Read Articles:
- Indian Air Force Recruitment 2025: Golden opportunity for 10th pass youth to join Indian Air Force, know full details, apply offline
- Jio discontinued Rs 249 plan! Now the 28 days plan price starts at Rs 299, check plan details
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
