Life Insurance Corporation of India i.e. LIC is running a Special Revival Campaign from 23 August to 22 October.
If you are the policyholders of the country’s largest insurance company Life Insurance Corporation of India ie LIC, then there is good news for you. If your LIC policy has lapsed then you have a great chance to start it again. LIC has started Special Revival Campaign. According to the company, this campaign will run from August 23, 2021 to October 22, 2021.
The policies of the specific eligible plan can be revived within five years from the date of first unpaid premium, subject to certain terms and conditions, the company said in a statement. It states that policies that have expired during the premium paying term and have not completed the policy term are eligible to be revived in this campaign.
Late fees will be exempted The
statement said that in view of the prevailing circumstances, late fees are being waived. This does not include term insurance and high risk plans. For total receivable premium up to Rs 1 lakh, a rebate of 20 per cent in late fee will be given. However, the concession amount cannot exceed Rs 2,000.
A concession of 25 per cent will be offered in late fees above Rs 2500 for the total receivable premium from Rs 1-3 lakh. In case the total receivable premium exceeds Rs.3 lakh, a rebate of 30 per cent in late fee is allowed, but the concession amount cannot exceed Rs.3,000.
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