LIC brought special facility for customers, take advantage by 6 March, or else the opportunity will come out

LIC Policy: Have your LIC lapsed policies been discontinued due to any reason… If your policy has lapsed then now you can start it again.

21st February, 2021

Have your LIC policies (LIC lapsed policies) stopped due to any reason ... If your policy has lapsed then you can start it again. Special Revival Campaign has been started by the company. This campaign has started from 7 January and will run till 6 March 2021. In this campaign, the company is giving customers a chance to start the policy again. However, some rules and conditions have been set for this.

Let me tell you, the benefit of this campaign will be given to those customers, who have not been able to pay the premium of their policy for some reason. However, the date of non-payment of premium for this should not be more than 5 years old. Apart from this, you will also get the benefit of late fee exemption for policy revival.

much discount will you get?

The company has said that up to 20 per cent will be waived in the late fees incurred on re-renewing the policy. At the same time, if the annual premium is between one to three lakhs, then there can be a discount of 25 percent in late fees. At the same time, a rebate of 30 percent or Rs 3,000 will be available on the premium of Rs 3,00,001 and above.

LIC has authorized 1,526 satellite offices to resume such policy. There is no need to provide special medical check-ups.

What are the conditions?
Under this campaign, you have to fulfill certain conditions. The policy will be revived within 5 years. Some concession will also be given on health related needs. Most policies will be resumed only on the basis of declaration of good health and questions on Kovid-19. Let us tell you that the company had also previously operated revival scheme from August 10 to October 9, 2020.

these policies will not get the benefit of rebate.
Apart from this, the company said that the benefits of this rebate will not be available on high risk plans like term insurance, health insurance, multiple risk policies. Policies which have lapsed in the premium paying term and whose policy term has not been completed till the revival date, can be revived in this campaign.

Category: Business


Reported by:
Khushbu Kumari Jha