Know Step By Step Process For LIC Lapsed Policy Revival Know Rules

LIC Policy Revival: Life Insurance Corporation of India is the largest and oldest insurance company in the country. It has crores of policy holders across the country. Many times people buy a policy, but due to some reason are not able to pay its premium. If the premium is not paid on time, the policy lapses (LIC Lapsed Policy Revival). For the revival of such policies, LIC runs various special campaigns (LIC Special Campaign for Policy Revival) from time to time.

LIC has run a special campaign to restart the lapsed policy between September 1 and 30, 2023. We are telling you about it. If any of your old policies has lapsed due to not paying the premium on time, then you can get the lapsed policy reactivated by depositing some amount in this campaign.

Revive lapsed policy

According to the rules of Life Insurance Corporation of India, if a policy holder’s policy has lapsed due to non-payment of premium, then to revive his policy, you will have to pay some penalty along with the outstanding premium. The policy will be reinstated after paying the outstanding premium. Only after this you will be able to avail the rest of the benefits related to it.

How to revive lapsed policy

If any of your LIC policies has been discontinued and you want to restart it, then contact LIC for this. For this you can contact LIC customer care by email. For revival, first of all go to the LIC branch and submit the revival form. With this, revive your policy by paying late premium and penalty.

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