Categories: Business

LIC will resume the discontinued policy, will run a special campaign

Photo: PTI

LIC to launch revival campaign for lapsed policies

new Delhi. Life Insurance Corporation of India (LIC) said that it would give its policyholders an opportunity to resume the discontinued policy to encourage them to continue the risk cover in the current difficult times. The insurance company has decided to launch a special revival campaign from 10 August to 9 October, under which LIC's discontinued personal policy can be resumed.

LIC said in a statement that the policy of certain schemes can be revived under the Special Revival Campaign, although the date of default in premium should not be more than five years old.

LIC said in a statement that the policyholders will get 20 percent discount on late fees for revival. At the same time, 25 percent discount will be given on the premium between 1 lakh to 3 lakh rupees. The company said that policies with default in premium payment and non-mature policies on the date of revival will be eligible for revival.

This campaign will help the policy holders who could not pay the premium due to Corona virus epidemic and their policy got lapsed. It is always beneficial to revive an old policy and LIC is committed to provide value to its customers and to continue their life insurance cover.

This post was published on August 10, 2020 11:52 am

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