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Life Insurance Corporation of India (LIC) has started a ‘Special Revival Campaign’ across the country, giving relief to the policyholders, under which lapsed (closed) policies can be re -commissioned. The campaign will run from 18 August to 17 October 2025 and the eligible will be applicable to individual policies.

Late fee discount

Under this initiative, late fees of up to 30% will be given for revival of the policy, the maximum limit has been fixed at ₹ 5,000. At the same time, 100% late fees will be waived on micro insurance schemes.

When is the policy lapsed?

The insurance policy is lapsed when the premium is not deposited in fixed time or grace period (usually 15 to 30 days). The policy is closed if the premium is not given after the grace period is over.

How to revive Lapsed Policy?

• To re -start the policy, the outstanding premium and interest will have to be deposited.

• The process depends on the terms of the policy, which may require documents to health/insurance.

• Customers can contact their LIC agent, close branch or customer service department.

• The policy holder will have to bear the cost of medical or other reports.

Special Revival Campaign Conditions

• The policy can be revived for the first time from the date of non -payment of premium.

• Only those policies will be eligible which are within the premium payment period and are not mature.

• LIC has clarified that normal medical and health rules will remain in force, no exemption will be given in it.

LIC says that this campaign has been launched to help the customers who could not pay the premium on time due to economic or personal reasons. LIC said, “It is very important to keep the policy running so that complete insurance benefits can be provided. Reviving the old policy strengthens the financial security of the family”. Customers have been appealed to take advantage of this limited time opportunity and ensure their family safety.

For more information: www.licindia.in Or contact the LIC Central Office in Mumbai.