LIC Update: If you ever took out an LIC policy and, for some reason, couldn’t pay the premiums on time, resulting in your policy lapsing, there’s now great relief for you. Often, job changes, reduced income, illness, or family responsibilities lead to missed premiums, interrupting years of financial planning. To provide security to millions of such policyholders, LIC has launched a special revival campaign, making it easier and more affordable to reinstate lapsed policies.
LIC’s Special Policy Revival Campaign
This new campaign has been in effect since January 1, 2026. Its main objective is to benefit customers whose individual non-linked policies lapsed due to non-payment of premiums on time. Under this campaign, significant discounts are being offered on late fees, allowing policyholders to regain their insurance coverage at a lower cost. Micro-insurance policyholders, in particular, will receive a complete waiver of late fees.
Read Here: DA Hike: December AICPI-IW Index Released, DA Likely to Rise to 63%
Read Here: Samsung Galaxy F70 series will be launched in India soon, with a starting price of around Rs. 15,000
Campaign Period and Important Dates
This offer is for a limited time. The campaign runs from January 1, 2026, to March 2, 2026. This means that those whose policies have lapsed for a long time have only this limited period to regain their life cover at a reduced cost.
Discount on Late Fees
The discount on late fees this time is quite beneficial. A discount of up to 30% is being offered on late fees for non-linked policies. If the total premium is up to one lakh rupees, a maximum relief of ₹3,000 will be given. If the premium is between ₹1 lakh and ₹3 lakhs, the discount will be up to ₹4,000, while policies with premiums exceeding ₹3 lakhs will receive a maximum discount of ₹5,000. Micro-insurance policyholders will receive a complete waiver of late fees.
Read Here: DA Hike: December AICPI-IW Index Released, DA Likely to Rise to 63%
Read Here: Samsung Galaxy F70 series will be launched in India soon, with a starting price of around Rs. 15,000
Revival Campaign Terms and Conditions
This campaign is applicable only to policies that have lapsed within five years of the date of the first unpaid premium. The policy must not have completed its tenure and must have lapsed during the premium payment period. Importantly, no medical examination or new health conditions are required for revival.
A Golden Opportunity for Policyholders
This campaign presents a golden opportunity for those who wish to reactivate their old LIC policies and ensure their family’s financial security. Reviving the policy in a timely manner will not only reinstate insurance coverage but also preserve long-term financial planning.