LIC Policy: Restart your closed insurance policy with ease, here's how

LIC Policy: The Life Insurance Corporation of India (LIC) has launched a campaign to revive old insurance policies that were closed before maturity. The campaign will run from February 1 to March 24. LIC policyholders who closed their policies for any reason can start them again.

During this campaign, the late fee for the premium has been waived, and there is a discount on the late fees and premiums. Policyholders will receive a 25 per cent rebate on late fees up to Rs 1 lakh and on premiums up to Rs 3 lakh. For premiums above Rs 3 lakh, the discount will be 30 per cent.

The policy can be revived up to five years from the date of the unpaid premium. On eligible NACH and BILL Pay registered policies, a special offer late fee of Rs.5 may be charged. Premiums can be paid online, at an LIC office, or through an agent.

High-risk plans such as term insurance, health insurance, and policies with multiple risks will not be eligible for this policy. Policies that have lapsed in the premium payment term but have not been completed till the revival date will be eligible for the revival.

LIC offers a plan for every category, from children to the elderly. These policies not only provide security but also offer savings.

The campaign launched by LIC is a great opportunity for policyholders who closed their policies before maturity to revive them with a discount on the late fees and premiums. Policyholders should take advantage of this offer and start their policies again.