LIC Revival Campaign 2026: On the occasion of New Year, the country’s largest insurance company, Life Insurance Corporation of India (LIC), has given a big gift to its crores of policyholders. LIC has given a great opportunity to restart the discontinued insurance policy. The insurance company has announced to start a special 2-month campaign to revive the discontinued individual policies. This campaign has started from 1 January 2026 and will continue till 2 March 2026. Its aim is to bring the policyholders back under insurance cover by giving them huge discounts.

This move comes at a time when many families’ incomes have been erratic, making it difficult to pay long-term financial commitments like life insurance premiums on time. According to LIC, this special drive will apply to all non-linked insurance policies. A significant discount on late fees is being offered during this period. If the policy is eligible for revival, the late fee will be waived by up to 30 percent. However, the maximum limit is Rs 5,000.

There is even more relief for those holding micro insurance policies. LIC has clarified that late fees on micro insurance policies will be completely waived. The aim is to ensure that even those with low premiums can easily reclaim their insurance cover. 100% waiver on late fees for micro insurance policies, so that risk cover remains affordable for low-income individuals.

Policies that have lapsed during the premium-paying term and those whose policy term has not yet been completed have been included in the campaign. LIC has clearly stated that while late fees are being waived, there will be no relaxation in medical or health-related conditions where required.

Who should revive a lapsed policy?

This initiative is aimed at policy holders who have been unable to pay their premiums on time due to personal or financial reasons. According to a report, these could include circumstances such as job loss, medical emergencies, or temporary financial constraints. Reviving a lapsed policy reactivates the full insurance cover.

This is especially important for families who depend on the policy proceeds. Risk cover usually ceases after a policy lapses, even if several years’ premiums have already been paid. LIC has repeatedly stated that it is important to keep the policy in force so that the policyholder can benefit from all the promises made in the contract.