At the start of the new year 2026, the Life Insurance Corporation of India (LIC) has introduced two important initiatives for its policyholders.
First, LIC has launched a new single-premium insurance plan called LIC Jeevan Utsav. Second, it has started a special campaign to help customers revive their lapsed insurance policies.
LIC Jeevan Utsav: New Single-Premium Insurance Plan
LIC has announced the launch of its new insurance product, LIC Jeevan Utsav Single Premium, which will be available from January 12.
This plan is a non-participating, non-linked, individual savings and whole life insurance plan.
In simple terms, this policy provides life-long insurance coverage without any risk from stock market fluctuations. Since it is a single-premium plan, the policyholder needs to pay the premium only once at the time of purchase.
One-Time Premium Payment and Key Benefits
This plan is suitable for people who do not want the burden of paying premiums again and again. With a single payment, policyholders get long-term insurance protection along with savings benefits.
As the plan is non-linked, market ups and downs will not affect the policy benefits. However, since it is non-participating, policyholders will not receive any share in LIC’s profits.
Therefore, customers are advised to carefully understand the policy terms and expected returns before investing.
Special Campaign to Revive Lapsed Policies
Along with the new plan, LIC has also announced relief for customers whose policies have lapsed due to missed premium payments. LIC has launched a special nationwide policy revival campaign, which will remain active until March 2.
Under this campaign:
Late fees on non-linked policies will be waived by up to 30%, with a maximum waiver of ₹5,000
For micro insurance policies, the entire late fee will be waived
Rules for Policy Revival
According to LIC, a policyholder can revive a lapsed policy within 5 years from the date of the first unpaid premium. However, there will be no relaxation in medical or health-related conditions while reviving the policy.
