New Delhi: Life Insurance Corporation of India (LIC) has launched a special campaign to help policyholders revive their lapsed policies. The drive will run from August 18 to October 17, 2025, covering individual non-linked policies with concessions on late fees.

As part of the campaign, a concession of up to 30 per cent on late fees, with a maximum limit of Rs 5,000, is being offered for eligible policies. For micro insurance policies, there will be a complete waiver of late fees to make it easier for people to restore risk cover at an affordable cost.

Policies that lapsed during the premium paying term but have not completed their policy term can be revived under this scheme, provided they are within five years from the date of the first unpaid premium and meet the conditions laid down. However, LIC clarified that there will be no relaxation in medical or health requirements.

The corporation said the campaign is designed for policyholders who were unable to pay premiums on time due to difficult circumstances, with the aim of ensuring their policies remain active to provide full insurance benefits.

"It is always advisable to revive an old policy and restore insurance cover. LIC values its policyholders and their desire to stay protected for the well being of their family members," the statement said.

BI Bureau