LIC (Life Insurance Corporation) has initiated a special campaign that offers policyholders the opportunity to revive their expired LIC policies. This campaign, active from September 1st to October 31st, aims to assist individuals in maintaining their life insurance coverage, even if their policies have lapsed.
Campaign Details
During this special revival campaign, LIC is providing a substantial 30% discount on late fees for eligible customers. To qualify for this discount, the policies in question must have unpaid premiums that are not more than 5 years overdue. The selection of policyholders who can benefit from this offer is subject to certain conditions determined by the bank.
How to Participate
To take advantage of this opportunity, you can visit your nearest LIC branch or contact an LIC agent for more information about the campaign and the revival process. You can also find comprehensive details on the LIC website at licindia.in.
Additionally, if you prefer the convenience of WhatsApp, you can obtain an LIC policy through this messaging platform. Simply follow these steps:
- Open WhatsApp and send a message with “Hi” to 8976862090.
- After sending the message, you will receive a form with 11 options.
- Choose the option that suits your needs by replying with the corresponding number. For example, if you want to select option 1, reply with “1.”
This convenient WhatsApp option makes it even easier for individuals to access LIC policies and enjoy the benefits of life insurance coverage.
Discount Breakdown
The discount structure is based on the premium amount of the lapsed policy. For policies with premiums up to Rs 1 lakh, a discount of Rs 3000 is applicable. Policies with premiums between Rs 1 lakh and Rs 3 lakh can benefit from a discount of approximately Rs 3500. Policies valued at more than Rs 3 lakh can enjoy a substantial rebate of up to Rs 4000 on late fees.
This initiative by LIC provides a valuable opportunity for policyholders to reinstate their lapsed policies at a reduced cost. Reviving a lapsed policy requires not only paying less in late fees but also providing valid proof for the delay in premium payments, along with settling the entire premium amount, including interest. LIC will reinstate the policy only when they are confident that the provided reasons for the lapse are legitimate and accurate.
Disclaimer: This piece of information is purely informational. DNP News Network and its writers do not confirm or authenticate the offers, discounts, or products. Viewers must visit the official website to avail of the benefit/s. The company or its writers will not be liable for financial or material losses.
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