If you had taken an LIC policy but could not pay the premium on time and your policy lapsed, there is good news for you.
Life Insurance Corporation of India (LIC), the largest life insurance company in the country, has launched a special campaign to help policyholders revive their lapsed policies.
Under this scheme, reviving a policy has become easier and cheaper than before.
What Is LIC’s Revival Campaign?
LIC has started a special policy revival campaign from January 1, 2026. This campaign is specially designed for people whose policies have lapsed.
Under this scheme, LIC is offering big discounts on late fees for reviving individual non-linked policies. Micro insurance policyholders are getting even more benefit, as they are offered a 100% waiver on late fees.
Campaign Duration: Limited-Time Offer
This special campaign will run for two months, from January 1, 2026, to March 2, 2026.
This means policyholders have a limited time to reactivate their lapsed policies at a lower cost. LIC believes this period will help many people restore their insurance coverage easily.
Late Fee Discount Details
Under this campaign, LIC is offering up to 30% discount on late fees. The discount depends on the total premium amount:
If the premium is up to ₹1 lakh → Maximum discount of ₹3,000
If the premium is between ₹1 lakh and ₹3 lakh → Maximum discount of ₹4,000
If the premium is above ₹3 lakh → Maximum discount of ₹5,000
For micro insurance policies, LIC is giving a 100% discount on late fees, which means no late fee needs to be paid.
Conditions for Policy Revival
This benefit is available only for policies that have lapsed within five years from the first unpaid premium.
If the policy term has not ended and the policy lapsed during the premium-paying period, it can be revived under this scheme.
The best part is that no medical tests or health conditions are required for revival, making the process simple and hassle-free.
