To provide continued Risk Cover in these uncertain times, LIC
has come up with an excellent opportunity for revival of lapsed policies. A
Special Revival Campaign is being launched from 23rd August,2021 to 22nd
October, 2021, for individual lapsed policies.
In view of the prevailing circumstances, concessions are being
offered in late fee for other than Term Assurance and High Risk Plans, depending
on the total premiums paid. There are no
concessions on medical requirements.
Eligible Health and Micro Insurance plans also qualify for the
concession in late fee.
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 certain terms and conditions.
CONCESSION
IN LATE FEE FOR ELIGIBLE POLICIES
(High
risk plans like Term Assurance and Multiple Risk Policies etc are not eligible
for the concession)
Total Receivable Premium |
Percentage allowed in late fee concession |
Maximum Concession Allowed |
Upto Rs.1,00,000 |
20% |
Rs.2000/- |
From 1,00,001 to Rs.3,00,000 |
25% |
Rs.2,500/- |
From 3,00,001 and above |
30% |
Rs.3000/- |
Policies which are in a
lapsed condition
during the premium paying term and not completed policy term are eligible to be
revived in this campaign.
The campaign is launched for the benefit of those
policyholders whose policies lapsed as they were not able to pay premiums on
time due to unavoidable circumstances.
It always makes better sense to revive an old policy to restore
insurance cover. LIC values its Policyholders and their desire to stay
protected. This campaign is a good
opportunity for LIC’s Policyholders to revive their policies and restore life
cover and ensure financial security for their family.
Dated at Mumbai on
the 22nd August , 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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