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Wednesday, 17 August 2022

LIC launches special campaign for policyholders to revive lapsed policies

LIC launches special campaign for policyholders to revive lapsed policies

Life Insurance Corporation of India( LIC) has launched a special crusade for reanimation of individual lapsed programs. This special drive, to be carried out from August 17 to October 21, 2022, is extended to allnon-ULIP programs with veritably seductive concession in late figure. The crusade is launched to profit those policy holders who weren't suitable to pay decorations due to necessary circumstances and their policy lapsed. 

“ LIC gives a unique occasion for policyholders to revive their lapsed programs," the insurance mammoth twittered. 

All programs except ULIP( Unit linked Insurance Plan) can be revived within 5 times from date of the first overdue decoration subject to policy conditions, LIC said in a statement. 

There's a 100 per cent disclaimer of late figure for Micro Insurance programs to grease affordable restoration of threat cover, it said. 


Late freights concessions for LIC policyholders 


  • For a total delinquent decoration of over to ₹ 1 lakh, the insurer is offering a 25 per cent concession in late figure, with a maximum limit of ₹ 2,500.

  • For decoration amounting ₹ 1- 3 lakh, the maximum concession allowed is ₹ 3,000. 
  • also, for a decoration quantum of above ₹ 3 lakh, concession offered is 30 per cent, with a cap of ₹ 3,500. 


Over the weekend, the public insurer LIC had reported a multifarious jump in June quarter net income at ₹682.9 crore, driven by record decoration income, as against a paltry ₹2.94 crore a time ago. 

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