Excelsior Correspondent
JAMMU, Aug 10: To encourage continuation of risk cover in the current circumstances of high risk, LIC brings an excellent opportunity for its policyholders to revive their lapsed policies.
It has decided to launch a special revival campaign from today to October 9, 2020 for its customers to revive their individual lapsed LIC 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.
Under this 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.
High risk plans like Term Assurance, Health Insurance, Multiple risk policies, etc. are not eligible for the concession.
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 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. LIC values its policyholders and their desire to continue their life insurance cover. This campaign is a good opportunity for LIC’s policyholders to revive their policies and restore life cover to ensure financial security for their family.
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