LIC has come up with an attractive offer for revival of lapsed policies. A Special Revival Campaign has been launched from 01.01.2026 to 02.03.2026 for individual lapsed policies.
Concession is being offered in late fee for all Non-Linked Insurance Plans upto 30% of Late fee upto a maximum amount of Rs.5000/- if eligible for Revival under the scheme.
Concession for Late fee is as per table shown below :
| Total Receivable Premium | % late fee concession | Maximum Concession allowed * |
| Up to Rs. 1,00,000 | 30% | Rs. 3000 |
| From 1,00,001 to 3,00,000 | 30% | Rs. 4000 |
| From 3,00,001 and above | 30% | Rs. 5000 |
| Micro Insurance Plans | 100% | Full |
*Terms & conditions apply.
Under this Special Revival Campaign, Policies can be revived within 5 years from date of the First Unpaid Premium subject to satisfying the policy terms and conditions.
Policies which are in a lapsed condition during the premium paying term and not completed policy term are eligible to be revived in this campaign.
There are no concessions on Medical/Health Requirements.
The campaign is launched for the benefit of policyholders who were not able to pay premiums on time due to any unfavourable circumstances. Policies must be kept inforce to get full insurance benefit. 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. This campaign provides a good opportunity for LIC’s Policyholders to revive their policies and ensure financial security for their loved ones.
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