LIC said in a statement on Saturday that policies that have lapsed during the premium payment period, whose maturity period has not been completed, can be revived in this campaign. This campaign will start on 7th February and will run till 25th March, 2022.
New Delhi. 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. Actually, LIC has started a campaign to reactivate the lapsed individual insurance policies.
The campaign will run from February 7 to March 25, 2022.
Public sector insurance company LIC said in a statement on Saturday that policies that have lapsed during the premium payment period, whose maturity period has not been completed, will be revived in this campaign May go. This campaign will start on 7th February and will run till 25th March, 2022.
Waiver of Revival
Charges The insurance company said, “The COVID-19 pandemic has emphasized the need for insurance protection and this campaign is a good opportunity for LIC policyholders to revive their policies. Rebates are also being given to the charges for reviving a lapsed policy. However, this exemption will not be available on term plans and high risk insurance plans.
Apart from this, no relief will be given in the medical report required to reactivate the policy. But in health and micro insurance plans, the charges on late premium payment will be waived. Under this campaign, a policy that has not paid premium for 5 years can also be revived.
