If your Life Insurance Corporation of India (LIC) policy has lapsed and you’ve been thinking about reviving it, this update can be very helpful.
LIC has launched a special campaign to bring back lapsed individual policies at a much lower cost.
The campaign started on January 1, 2026, and will continue till March 2, 2026.
During this limited period, policyholders can revive old and lapsed non-linked policies without paying heavy late fees, making it easier to restore insurance coverage.
Big Relief for Policyholders: Lower Late Fees
Many people stop paying premiums because late fees become too expensive.
Keeping this problem in mind, LIC is offering attractive discounts under this campaign.
Late fees on non-linked policies will be reduced by up to 30 percent, with a maximum discount of ₹5,000.
For people who have taken micro insurance policies, LIC is offering a 100 percent waiver on late fees, which means no penalty at all.
This move is expected to benefit thousands of policyholders who could not continue their policies due to financial pressure.
Who Can Take Advantage of This Scheme?
LIC has clearly stated that this campaign is meant for policyholders who missed premium payments due to financial difficulties or unavoidable circumstances.
Policies that were discontinued during the premium-paying period and have not yet matured are eligible for revival.
However, the discount applies only to late fees.
If a medical or health check-up is required to revive the policy, those costs will not be waived.
Why Reviving Your LIC Policy Is Important
LIC says that insurance benefits are available only when the policy remains active.
A lapsed policy may not provide death cover or maturity benefits, which defeats the purpose of buying insurance.
This special campaign gives policyholders a chance to restore their risk cover and secure their family’s financial future.
If you have a lapsed LIC policy, visit your nearest LIC branch or contact your agent as soon as possible.
Keep in mind, this offer is valid only until March 2, 2026, so timely action is important.
