Good News for LIC Customers: Special Revival Campaign Offers Late Fee Concessions on Lapsed Policies
Life Insurance Corporation of India (LIC) has launched a Special Revival Campaign for individual lapsed policies. The campaign will run from 18th August 2025 to 17th October 2025, offering policyholders a golden chance to restore their insurance cover and regain full benefits.
Highlights of the Campaign
- Concession on late fees for all Non-Linked Insurance Plans up to 30%.
- Maximum concession allowed: Rs. 5,000.
- Micro Insurance Plans will enjoy a 100% late fee waiver.
- Policies can be revived within five years from the date of the first unpaid premium, subject to terms and conditions.
Late Fee Concessions (Plan-wise)
| Total Receivable Premium | % Late Fee Concession | Maximum Concession Allowed |
|---|---|---|
| Up to Rs. 1,00,000 | 30% | Rs. 3,000 |
| Rs. 1,00,001 to Rs. 3,00,000 | 30% | Rs. 4,000 |
| Rs. 3,00,001 and above | 30% | Rs. 5,000 |
| Micro Insurance Plans | 100% | Full |
*Terms & conditions apply.
Who Can Revive Their Policy?
Policies that are in a lapsed condition during the premium-paying term and have not yet completed the full policy term are eligible under this campaign. However, there will be no concessions on medical or health requirements wherever applicable.
LIC’s Objective Behind the Campaign
The revival campaign is designed to help policyholders who were unable to pay premiums on time due to unfavourable circumstances. By reviving lapsed policies, customers can restore their full insurance benefits and ensure long-term protection for their families.
LIC stated: “The campaign is launched for the benefit of policyholders who were not able to pay premiums on time. It is always advisable to revive an old policy and restore insurance cover. This campaign provides a valuable opportunity for policyholders to secure the financial well-being of their loved ones.”
This special drive is expected to benefit thousands of policyholders across India and is a timely opportunity for those seeking to regain the safety net of insurance protection.
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