On the occasion of the New Year, the country’s largest insurance company, Life Insurance Corporation of India (LIC), has announced a special benefit for its policyholders.
LIC has launched a two-month special campaign to help customers revive their lapsed individual insurance policies.
This campaign is meant for policyholders who could not pay their premiums on time due to unavoidable circumstances and want to restore their insurance cover
Campaign Duration and Eligible Policies
LIC’s special revival campaign will run from January 1 to March 2, 2026.
The campaign applies to all non-linked insurance policies that have lapsed.
Policies that were closed during the premium-paying period but whose policy term is not yet completed can be revived under this scheme.
Late Fee Waiver and Discounts Offered
Under this special campaign, LIC is offering a late fee concession of up to 30% on eligible non-linked policies, subject to a maximum limit. For micro insurance policies, a 100% waiver on late fees is being provided to restore risk cover.
Late Fee Concession Details
| Total Premium Payable | Late Fee Concession | Maximum Discount |
|---|---|---|
| Up to ₹1,00,000 | 30% | ₹3,000 |
| ₹1,00,001 to ₹3,00,000 | 30% | ₹4,000 |
| ₹3,00,001 and above | 30% | ₹5,000 |
| Micro Insurance Plan | 100% | Full waiver |
Important Terms and Conditions
Only policies that lapsed during the premium payment period are eligible.
The policy term must not be completed.
No concession is available for medical or health-related requirements.
The revival helps restore full insurance benefits.
LIC advises policyholders to revive old policies so they can continue to enjoy insurance protection and financial security.
Why This Campaign Is Important
LIC understands that policyholders may face financial difficulties due to unexpected situations. This campaign has been started to help such customers keep their policies active and protect their families’ future.
By reviving a lapsed policy, policyholders can ensure continuous coverage and peace of mind for their loved ones.
LIC’s New Insurance Plans Launched in December
In December last year, LIC launched two new insurance plans for its customers:
LIC Protection Plus
LIC Bima Kavach
Both plans are designed to be customizable, easy to understand, and suitable for people with different insurance needs. These plans offer a combination of protection and savings, helping customers feel financially secure in the long term.
Benefits of LIC Protection Plus
LIC Protection Plus is a linked savings plan that connects your investment to the market, offering both life protection and growth potential.
A key benefit of this plan is that mortality charges paid during the policy term are refunded at maturity. This means the amount paid for life cover is returned when the policy matures.
Benefits of LIC Bima Kavach
LIC Bima Kavach is ideal for families looking for long-term financial security. The plan allows you to increase the Sum Assured during important life events such as:
Marriage
Birth of a child
As responsibilities grow, your insurance coverage can also increase.
Women and non-smokers are offered lower premium rates, making the plan more affordable. There is no maximum limit on the Sum Assured, allowing customers to choose the level of protection they need.
