Hyderabad, Jan 2 (UNI) The Life Insurance Corporation of India (LIC) on Friday announced launching of a Special Revival Campaign to help policyholders revive lapsed insurance policies and restore coverage.
The campaign will run from January 1 to March 2, 2026, providing policyholders an opportunity to continue their life insurance protection, the Insurance company said in a release.
Under the scheme, LIC is offering concessions on late fees for individual non-linked insurance plans.
Policyholders can avail 30 per cent concession on late fees, with maximum limits depending on the total receivable premium.
For premiums up to ₹1,00,000, the maximum concession is ₹3,000; for premiums between ₹1,00,001 and ₹3,00,000, it is ₹4,000; and for premiums above ₹3,00,001, the maximum concession is ₹5,000.
Micro Insurance Plans are eligible for 100 per cent concession on late fees.
Policies eligible for revival are those in a lapsed condition during the premium paying term but whose policy term has not yet been completed.
Policies can be revived within five years from the date of the first unpaid premium, provided all policy terms and conditions are satisfied. However, medical and health requirements are not exempted under this campaign.
LIC officials said the initiative is aimed at policyholders who were unable to pay premiums on time due to unforeseen circumstances.
“Reviving old policies ensures continuous insurance cover and financial security for families,” the officials added.
Policyholders are encouraged to take advantage of this opportunity to restore their policies, avail concessions on late fees, and ensure financial protection for themselves and their loved ones.
