To encourage continuation of risk cover in the current circumstances of high risk Cavid-19 Pandemic, the Life Insurance Corporation(LIC) on Sunday has unveiled `Special Revival Campaign; for its policyholders to revive their lapsed policies.

Policies which are in lapsed condition during the premium paying term and not completed policy term as on the date of revival are eligible to be revived in this campaign.

The campaign will run for a month between Aug 10 to Sep 10 for its customers to revive their individual lapsed policies. 

In view of the prevailing circumstances, no concessions are being offered in medical requirements and the same are limited to late fee only; under plans other than term assurance and other high risk plans.

-Up to Rs.1,00,000, a policy holder can avail 20 per cent (maximum Rs 1500) concession on  late fee

– From Rs 1,00,001 to Rs 3,00,000,25 per cent (maximum Rs. 2000) concession on  late fee

– From 3,00,001 and above, 30 per cent( maximum of Rs 2500) concession on  late fee

Under the 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. 
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.