If your LIC policy has been discontinued, then you have a chance to revive it between 7th February to 25th March 2022. According to the Life Insurance Corporation, the insured will be able to get their lapsed policy revived during a special revival campaign. Any policyholder can avail this facility during this period through the nearest branch of LIC.
According to LIC, keeping in view the prevailing circumstances, late fee waiver is being given on the basis of premium paid till now on insurance other than term insurance and high risk plans. Eligible health and micro insurance plans can also take advantage of late fee waiver.
These policies can be revived : Under the special revival campaign, policies with an eligible plan for a period of five years from the first date of non-payment of premium can be revived.
Up to 30% discount: The company has said that policies with an annual premium of Rs 1 lakh will get a discount of 20% or a maximum of Rs 2 thousand. Whereas policies with annual premium of Rs 1 lakh to Rs 3 lakh will get a discount of 25% or a maximum of Rs 2,500. 3 lakh 1 and above will get a discount of 30% or a maximum of Rs 3 thousand on policies.
Must complete the policy term
Under this revival campaign, those insurance products will be included, which fulfill the policy term and meet the premium payment norms. This campaign has been launched for those customers who have not been able to pay the premium on time due to some reason. In the existing policies, you will get the cover of the old policies.
