LIC has closed under a campaign, giving the opportunity to start the policy.
LIC Special Revival Campaign: Life Insurance Corporation of India (LIC) has brought ‘Special Revival Campaign’ for closed or lapsed policy. Under this, the policy can be revived within five years from the date of the policy lapse. However, some conditions also have to be followed for this.
Issuing a statement about this campaign, LIC said, ‘Under the Special Revival Campaign, those policies with eligible plans can be revived within five years from the date of non-payment. For this, some terms and conditions have to be fulfilled.
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You will get this special benefitNot only the opportunity to revive the policy, but some concession will also be given to the health needs on the basis of merit. It was also told that most policies can be revived on the basis of better health. However, he will also have to answer some questions related to Kovid-19. LIC also launched a similar campaign between 10 August to 9 October 2020 last year.
>> It said that policyholders will get 20 percent or up to Rs 2,000 discount in late fees to revive their policy. There will be a 25 percent discount on the policy with an annual premium of Rs 1 lakh to Rs 30 lakh.
>> Under this campaign, only those policies can be revived, which lapse in the premium submission period and its policy term is not completed. The last date for this will be the revival date.
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With this camp, those policyholders will get benefit, who could not deposit their premium due to any reasons and their policy got lapsed. Experts say that to restore the insurance cover, reviving the old policy is a better decision. In such a situation, this campaign is a good opportunity to restore your life cover and financial security will also be ensured for yourself and family. Currently LIC has around 30 crore customers from across the country.