LIC Policy: When it comes to investing, people usually turn to bank FDs first. But getting a good return is not always possible. In such a situation, LIC’s excellent scheme can be very useful. India’s largest insurance company, Life Insurance Corporation of India (LIC), has made two important announcements for its customers at the beginning of 2026.
On one hand, the company has announced the launch of a new insurance plan, and on the other hand, a special relief scheme has been started for policyholders whose policies had lapsed for some reason. The aim of both these initiatives is to provide greater security and convenience to customers.
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LIC launches new insurance policy
LIC has introduced a new insurance product called LIC Jeevan Utsav Single Premium Plan. This policy will be effective from January 12, 2026. The most special feature of this plan is that the policyholder will have to pay the premium only once. After that, the insurance cover will continue for life.
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This plan falls under the non-linked and non-participating category, meaning its funds will not be linked to the stock market. It is an individual savings and whole life insurance plan, which provides lifelong insurance cover along with savings benefits. Currently, the company has not yet publicly released complete information regarding the premium amount and returns of this policy.
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Learn about LIC’s Revival Campaign
On the occasion of the New Year, LIC has also taken a relieving step for those customers whose insurance policies had lapsed due to non-payment of premiums on time. The company has launched the LIC Revival Campaign for this purpose. This campaign will run from January 1, 2026, to March 2, 2026.
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Under this campaign, some non-linked and micro-insurance policies can be revived under concessional terms. Discounts are also being offered on late fees, which will provide financial relief to policyholders.
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Waiver on Late Fees
According to LIC, a discount of up to 30 percent will be offered on late fees for non-linked policies. However, this discount will be limited to a maximum of Rs. 5,000. The company has also clarified that any policy can be revived within five years from the date of the first unpaid premium. Policies that have lapsed during the premium payment period and have not yet matured will be eligible under this campaign.
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Why is it important to revive your policy?
LIC states that sometimes, due to financial or family reasons, people are unable to pay their premiums on time, leading to their policies lapsing. The objective of this revival campaign is to provide insurance coverage again to such policyholders. Reviving an old policy is considered beneficial because it restores the full benefits of the insurance and ensures continued financial security for the future.