LicliliicIf your LIC insurance policy has lapsed due to non-payment of premiums, the year 2026 brings a golden opportunity for you. The Life Insurance Corporation of India (LIC) has launched a nationwide Special Revival Campaign, under which policyholders can revive their lapsed policies at significant discounts. This campaign will run until March 2, 2026. The primary objective of this initiative is to provide relief to customers who, for various reasons, were unable to pay their premiums on time and lost their insurance coverage.
LIC Revival Campaign
This special campaign by LIC is valid only for select policies. These primarily include Non-Linked Insurance Plans and Micro Insurance Plans. This scheme applies to policies that have lapsed during the premium payment term and whose maturity period has not yet been completed.
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LIC believes that this significant step will bring millions of families back into the fold of financial security. If your policy has been closed for less than five years, you can seize this opportunity and restore your old protection.
Late Fee Waiver
LIC has developed a robust framework for late fee waivers this time. This waiver depends on the premium amount and the type of policy. In the case of micro insurance plans, LIC has generously decided to offer a full 100% waiver on late fees. This means that small investors will not have to pay even a single rupee additional penalty.
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For non-linked plans, a late fee waiver of up to 30% is being offered. However, there is a cap on this—the discount will be limited to a maximum of ₹5,000. This discount will also depend on your total outstanding premium. This significant discount is especially helpful for those who have accumulated a large amount of late fees.
Terms and Conditions for Policy Revival
LIC has also issued some clear rules for policyholders, which are crucial for you to understand. The most important condition is that you can revive the policy only within 5 years from the date of the first unpaid premium.
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Furthermore, the late fee will be waived, but if the policy terms require a medical test or health declaration, there will be no concession. The biggest advantage of reviving the policy is that the life cover and other bonus benefits for your family, which were lost upon the policy lapse, become effective again.
Stock market also saw strength
LIC shares have also performed strongly in the stock market amid the announcement of this campaign. LIC shares closed at ₹861.25 on January 2, 2026, a strong gain of 0.99%. Investors believe this revival campaign will bring significant funds back to the company and boost customer confidence significantly, which will directly impact the share price.