ALLOWS REVIVAL AT SATELLITE OFFICES…
To encourage continuation of
Risk cover in the current circumstances of Corona Pandemic and high risk, LIC brings
an excellent opportunity for its policyholders to revive their lapsed policies.
It has decided to launch a Special Revival Campaign from 07/01/2021 to
06/03/2021 for its customers to revive their individual lapsed LIC policies. It
has also authorised its 1526 satellite offices to revive policies where special
medical tests are not required.
Under this Special Revival
Campaign, Policies of specific eligible plans can be revived within 5 years
from date of the First Unpaid Premium subject to terms & conditions. Certain
concession in health requirements is also being offered subject to eligibility.
Most policies can be revived only on the basis of a Declaration of Good Health
and a Covid questionnaire to be submitted by the proposer/life assured.
Concession in late fee for eligible
policies
(High risk plans like Term Assurance,
Health Insurance, Multiple risk policies, etc. are not eligible for the
concession)
|
Total Receivable Premium |
% late fee concession |
Maximum Concession allowed |
|
Up to Rs.1,00,000 |
20% |
Rs. 2000 |
|
From 1,00,001 to 3,00,000 |
25% |
Rs. 2500 |
|
From 3,00,001 and above |
30% |
Rs. 3000 |
The campaign is launched to
benefit those policy holders who were not able to pay premiums due to unavoidable
circumstances and their policy lapsed. It always makes better sense to revive
an old policy to restore insurance cover. LIC values its policyholders and their
desire to continue their life insurance cover. This campaign is a good opportunity
for LIC’s policyholders to revive their policies and restore life cover to
ensure financial security for their family.
LIC currently services almost
30 crore policies across the
nation.
Dated at Mumbai on the 7th
January,2021
For further Information please
contact: Executive Director (CC)
LIC of India, Central Office,
Mumbai .Email id : ed_cc@licindia.com
Visit us at www.licindia.in
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