LIC special revival campaign: Life Insurance Corporation has this offer for your lapsed policy. Details inside
LIC launches special revival campaign for expired policies, policyholders have until 31 October to revive their lapsed policy
The Life Insurance Corporation (LIC) has launched a special campaign for renewing expired policies. LIC's special revival campaign started on September 1. Policyholders have time till 31 October, 2023 to revive their lapsed policy under this special revival campaign.
As per the LIC post on X, the concession in the late fee charges is divided into three parts.
Concessions offered by LIC on policy revival
- For total receivable LIC premium payment up to a range of ₹1 Lakh, a rebate of 30% is allowed in the late fee charges or a maximum concession of ₹3,000 is eligible.
- For total receivable LIC premium payment within a range of ₹1 Lakh to ₹3 Lakh, a rebate of 30% is allowed for the late fee charges, or a maximum concession of ₹3,500 is allowed.
- If the total receivable LIC premium payment exceeds a range of ₹3 Lakh, then the rebate for the late fee charges is 30%, or the maximum concession allowed is ₹4000.
How to check if a LIC policy has lapsed or not?
1) Go to the LIC portal.
2) Click on 'Registered User'
3)Log in to the LIC portal with the required details
4)After logging in, click on 'Policy Status'
5)Under this, policyholders can check the due premium date, status, and lapsed policy.
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