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Life Insurance Corporation of India (LIC), the country’s largest insurance provider, has introduced a Special Revival Campaign to help policyholders restore their lapsed policies. This limited-period scheme began on August 18, 2025, and will continue until October 17, 2025. The campaign is designed to provide relief to customers who, due to financial or personal reasons, could not pay their premiums on time and saw their policies lapse.

Fee Concessions for Policy Revival

One of the biggest highlights of this scheme is the late fee concession. LIC is offering a 30% discount on late fees, with a maximum cap of ₹5,000. For micro-insurance plans, the relief is even greater—100% waiver on late fees.

Typically, when a premium is not paid within the grace period of 15 to 30 days, the policy lapses, leaving the policyholder without coverage. This new campaign provides a chance for such customers to bring their policy back to life at a lower cost.

How Policyholders Can Revive Their Policies

To avail of this scheme, policyholders will need to clear their pending premiums along with applicable interest. They can approach an LIC agent or visit the nearest branch office to complete the process. If required, the policyholder may also need to submit medical or special reports to establish insurability. However, the cost of such medical tests will be borne by the policyholder.

LIC has clarified that policies can only be revived within five years from the first unpaid premium date, and only those policies whose maturity period is still valid will be eligible. Importantly, if a medical certificate is required during the revival process, no relaxation will be granted in that regard.

Scheme Aimed at Customer Relief

According to LIC, this revival campaign is intended to support policyholders who missed payments due to unavoidable circumstances. By offering a reduced fee burden and a structured revival window, LIC hopes to encourage more people to continue with their insurance plans and safeguard their families’ financial future.

Insurance experts point out that such revival opportunities are crucial. Many families rely on insurance policies for long-term financial security, and a lapsed policy can significantly affect protection against unforeseen events. By extending this scheme, LIC ensures policyholders do not permanently lose their coverage due to temporary financial challenges.

Availability Across Branches and Online

LIC has made it convenient for policyholders to access this scheme. Customers can visit LIC’s official website (www.licindia.in) for detailed guidelines, eligibility criteria, and conditions. In addition, policyholders in towns, semi-urban, and rural areas can approach LIC’s widespread network of branches to revive their lapsed policies.

The corporation emphasized that this scheme is part of its larger commitment to reaching the grassroots and ensuring financial protection for every household in India.

Key Points to Remember

• Campaign Duration: August 18 – October 17, 2025.

• Late Fee Concession: 30% discount (up to ₹5,000); 100% waiver for micro-insurance plans.

• Eligibility: Policies within 5 years of first unpaid premium and still under maturity period.

• Requirements: Payment of pending premiums + interest; medical reports if necessary.

• Access: Available via LIC agents, branch offices, and the official LIC website.

Final Takeaway

For policyholders with lapsed LIC policies, this special revival scheme is a golden opportunity to reinstate insurance coverage without bearing the full burden of penalties. By offering fee concessions and a clear window for revival, LIC is encouraging customers to safeguard their long-term financial planning.

With its extensive presence across India and simplified access to services, LIC’s initiative reaffirms its role as a trusted financial partner for millions of families. Policyholders who missed their premium deadlines now have a second chance to secure their insurance benefits—making this scheme both timely and valuable.