Opportunity to revive the discontinued LIC policy, offer ends tomorrow

This campaign is going to end on 25 March 2022. Under this, policyholders will be able to restart LIC’s lapsed policy.

Updated On – 9:32 am, Thu, 24 March 22

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If you are also a customer of LIC then there is a big news for you. This is the last chance for the customers to revive their policy by LIC. This is a great opportunity for those customers who have not been able to pay their premium due to any reason and their policy has lapsed. Life Insurance Corporation of India has started a special campaign to revive the lapsed insurance policy cheaply. This campaign of LIC started on 7th February, which is going to end on 25th March. This campaign is an excellent opportunity for LIC policyholders to revive their policies, restore life insurance and ensure financial security for their families.

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LIC has said that policies which have lapsed during the premium paying term and have not completed the policy term, such policy can be revived till March 25.  For this a late fine will have to be paid and the policy will start immediately.  LIC has started a special campaign for this which is going on from 7th February and will run till 25th March.  Those who want to take advantage of this campaign, they will have to start the policy by paying a late fine by March 25.

LIC has said that policies which have lapsed during the premium paying term and have not completed the policy term, such policy can be revived till March 25. For this a late fine will have to be paid and the policy will start immediately. LIC has started a special campaign for this which is going on from 7th February and will run till 25th March. Those who want to take advantage of this campaign, they will have to start the policy by paying a late fine by March 25.

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The insurer said, in view of the prevailing circumstances, concessions in late fee are being given for term insurance and other than high-risk plans based on the total premium paid.  There is no relaxation in medical requirements.  Concession in late fee is also being given for health insurance and micro insurance plans.  Full concession on late fee is being given by LIC on micro insurance plans.

The insurer said, in view of the prevailing circumstances, concessions in late fee are being given for term insurance and other than high-risk plans based on the total premium paid. There is no relaxation in medical requirements. Concession in late fee is also being given for health insurance and micro insurance plans. Full concession on late fee is being given by LIC on micro insurance plans.

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For LIC premium payment up to the limit of Rs 1 lakh, there will be a 20 per cent rebate in late fee i.e. a maximum concession of Rs 2,000.  Late fee 25 per cent or a maximum concession of Rs 2,500 is allowed on LIC premium payment within the range of Rs 1 lakh to Rs 3 lakh.  If the LIC premium payment exceeds the limit of Rs 3 lakh, then the exemption for late fee is 30 per cent or a maximum concession of Rs 3000.

For LIC premium payment up to the limit of Rs 1 lakh, there will be a 20 per cent rebate in late fee i.e. a maximum concession of Rs 2,000. Late fee 25 per cent or a maximum concession of Rs 2,500 is allowed on LIC premium payment within the range of Rs 1 lakh to Rs 3 lakh. If the LIC premium payment exceeds the limit of Rs 3 lakh, then the exemption for late fee is 30 per cent or a maximum concession of Rs 3000.

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According to LIC, such policies, which have lapsed in the premium paying term and whose policy term has not been completed till the revival date, can be revived in this campaign.  In view of the situation of Kovid, LIC has started this campaign.  There have been many policy lapses during Kovid as people stopped paying premium due to deteriorating economic condition.  An important thing emerged in Kovid that it is necessary to have a policy because it helps a lot in adverse situations.

According to LIC, such policies, which have lapsed in the premium paying term and whose policy term has not been completed till the revival date, can be revived in this campaign. In view of the situation of Kovid, LIC has started this campaign. There have been many policy lapses during Kovid as people stopped paying premium due to deteriorating economic condition. An important thing emerged in Kovid that it is necessary to have a policy because it helps a lot in adverse situations.

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