LIC offers excellent opportunity for revival of lapsed policies

Srinagar, Aug 19: Life Insurance Corporation (LIC) of India Tuesday announced an attractive offer for the revival of lapsed policies.A statement issued here said that a special revival campaign has been launched from August 18 to October 17, for individual lapsed policies. “Concession is being offered in late fee for all Non-Linked Insurance Plans up to 30 per cent of late fee up to a maximum amount of Rs.5000 if eligible for Revival under the scheme,” the statement read, adding that under the special revival campaign, Policies can be revived within five years from date of the first unpaid premium subject to satisfying the policy terms and conditions”It said that the 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. “There are no concessions on Medical/Health Requirements. The campaign is launched for the benefit of policyholders who were not able to pay premiums on time due to any unfavourable circumstances. Policies must be kept in force to get full insurance benefit. It is always advisable to revive an old policy and restore insurance cover. LIC values it’s policyholders and their desire to stay protected for the well-being of their family members. This campaign provides a good opportunity for LIC’s Policyholders to revive their policies and ensure financial security for their loved ones,” the statement added.