The country ‘s largest insurance company, Life Insurance Corporation of India (LIC), made a big announcement on Monday. Public sector LIC said that it has started a campaign to restart the discontinued personal insurance policy.
This special campaign will be run for one month. This campaign to restart the discontinued insurance policy has started on Monday, 18 August and will run till 17 September 2025. Under this campaign, attractive discounts will be given in the late fee for restarting the policy.
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100% waiver on late fees for micro insurance policies
LIC said in a statement that under this scheme, up to 30 percent discount is being given on late fees for all non-linked i.e. term insurance policy schemes, which can be up to a maximum of Rs 5000, if eligible for revival. At the same time, 100 percent discount is being given on late fees for micro insurance policy (insurance policy for low-income family or individual). Under this special revival campaign, the policy can be started within 5 years from the date of the first unpaid premium, if the terms and conditions of the policy are fulfilled.
LIC offers an excellent opportunity for revival of lapsed policy.#LIC #LapsedPolicy pic.twitter.com/UQFj2lNtSr
— LIC India Forever (@LICIndiaForever) August 18, 2025
No concession on medical/health requirements
The company has said in its statement that no concession will be given on medical/health requirements. Policies which have expired during the premium payment period and whose policy term has not been completed can be restarted in this campaign. According to the statement, this campaign has been started for the benefit of those policyholders who were not able to pay the premium on time due to any adverse situation. LIC said in the statement, “It is always advisable to revive the old policy and restore the insurance cover.”
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