How to Update LIC Lapsed Policy: Life Insurance Corporation of India (LIC), the country’s largest government insurance company, has given a big relief to the policy holders. This news is for those people whose policy has lapsed. LIC is going to give big relief to such people when the policy lapses. You can also revive a lapsed policy by paying a late fee. LIC has launched a campaign to revive the lapsed insurance policy cheaply. This campaign is very beneficial for those people who have not paid the premium of their policy due to job loss due to Corona epidemic.
If you have a policy of LIC and it has not been paid for a long time, then you can get it started again till March 25. Under the special campaign of LIC, till March 25, policyholders can restart LIC’s lapsed policy.
Along with this, policies whose premium date has passed but the revival date is still pending can take advantage of this campaign.
It is to be noted that multiple risk policies, term insurance policies and high risk insurance policies have not been included in this exemption.
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Special campaign information
The date of default in premium should not be more than 5 years old. That is, you can revive the policy within 5 years of default in the first premium payment. Late fee waiver will not be admissible in case of high risk plans like term insurance, multiple risk policies etc. Such policies, which have lapsed into the premium paying term and whose policy term has not been completed till the revival date, can be revived in this campaign.
Tags: Insurance Policy, Life Insurance, Life Insurance Corporation of India (LIC)
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