Revive your lapsed policy: LIC launches new campaign

Even though LIC investors are disappointed as the shares have fallen 25 per cent from their listing, Insurance behemoth is still making its policyholders happy by reviving their lapsed policies.

Life Insurance Corporation of India (LIC) has announced the launch of a campaign for revival of individual lapsed policies.

This special drive, to be carried out from August 17 to October 21, 2022, is extended to all non-ULIP policies with very attractive concession in late fee.

"Life Insurance cover is a risk management, for contingent, unexpected loss of life. This campaign gives a rare opportunity for LIC’s valued policy holders to revive their lapsed policies and continue the benefit of insurance to protect the financial interests of their family," LIC said in its statement.

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The campaign is launched to benefit those policy holders who were not able to pay premiums due to unavoidable circumstances and their policy lapsed.

Under the campaign, except for ULIP policies, all policies can be revived within 5 years from the date of the First Unpaid Premium subject to policy conditions.