The country’s largest insurance company Life Insurance Corporation of India (LIC) on Friday announced the launch of a two-month special campaign to revive lapsed individual policies.
This special campaign will be run from January 1 to March 2, 2026 and will cover all non-linked policies. Under this, attractive concession is being given in late fee.
LIC said in a statement that up to 30 per cent discount in late fee will be given on all non-linked insurance plans eligible for revival. This discount will be up to a maximum of Rs 5,000.
The company said 100 per cent waiver of late fees is being given for micro insurance policies, so that the risk cover can be reinstated. The statement said that policies which have been discontinued during the premium payment period, and whose period has not been completed, can be revived under this campaign. No concession will be given on medical or health related requirements.
LIC said that this campaign has been launched to benefit those policyholders who were not able to pay the premium on time due to some adverse circumstances. The company said that it is necessary to keep the policies in force to avail full insurance benefits.