LIC Special Policy: If you are thinking about investing, this news might be especially important for you. Currently, many government schemes are being offered for investment. LIC is also offering attractive returns on investments. It’s worth noting that at the beginning of 2026, LIC made two major decisions for its policyholders. On one hand, the company has introduced a new single-premium insurance plan, and on the other hand, a special facility has been launched to revive insurance policies that had lapsed for any reason. LIC’s decisions have brought smiles to the faces of investors. Let’s learn more about it in detail.
What is the LIC Jeevan Utsav Single Premium Plan?
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LIC is launching a new insurance plan from January 12th, named LIC Jeevan Utsav Single Premium Plan. This is an individual savings and whole life insurance plan, providing the policyholder with lifetime insurance coverage. This plan is neither linked to the stock market nor does it offer participation in the company’s profits.
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Security with a Single Investment
The special feature of this plan is that the premium needs to be paid only once. This means there is no hassle of paying installments repeatedly. This plan may be suitable for those who want both long-term insurance protection and savings by investing a lump sum. Since it is a non-linked plan, market fluctuations will not affect its benefits. However, being a non-participating plan, the policyholder will not receive any bonus or share of the profits, so it is important to carefully understand the terms and conditions before opting for it.
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Lapsed Policies Can Be Revived
LIC has also taken a relieving step for customers whose policies had lapsed due to non-payment of premiums on time. The company has launched a special revival campaign, which will run until March 2, 2026. During this period, policyholders are being offered a waiver on late fees.
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Waiver on Late Fees
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Under this revival campaign, a discount of up to 30 percent will be offered on late fees for non-linked policies, with a maximum limit of Rs. 5,000. In the case of micro-insurance policies, the entire late fee is being waived, providing significant relief to such policyholders.
Rules for Policy Revival
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According to LIC, any policyholder can revive their policy within five years from the date the first premium became due. However, no concessions will be given regarding medical or health-related conditions during the revival process. The company states that this initiative aims to bring as many people as possible back under insurance coverage.