Synopsis: LIC has launched a Special Revival Campaign offering up to 30% concession on late fees for reviving eligible lapsed non-linked insurance policies. The initiative helps policyholders restore their insurance cover within five years of the first unpaid premium, ensuring continued financial protection for their families.
LIC is conducting a special revival campaign at which policyholders can revive lapsed life insurance policies between January 1, 2026, and March 2, 2026, with the late fees being concessed. The program is aimed at benefiting the customers with payment difficulties to resume coverage to support family financial security without a fresh start. It highlights the concern that LIC has towards the welfare of policyholders despite the economic challenges.
Campaign Details
The campaign by LIC allows the revival of lapsed individual policies within five years after the initial premium is not paid, and the policy terms are mandated. Acceptable policies are in lapse throughout the period of premium payment but are not subject to the full period. Policyholders have until March 2, 2026, to make a gain.
Revival Benefits
The policies that are being maintained will provide a complete insurance cover as LIC emphasizes. Reviving reinstatements original covers, protecting families against uncertainty. Lapsed policies become worthless hence, this is a good opportunity in time.
Fee Concessions
LIC will provide a 30% discount on the late charges on non-linked plans, but limited to ₹5,000. Dues amounting to ₹1 lakh or less will receive up to ₹3,000, between ₹1,00, 001 and ₹3 lakh will receive up to ₹4,000 and dues above ₹3 lakh will receive up to ₹5,000. Micro insurance plans are fully waivered.
| Total Receivable premium | % late fee concession | Maximum Concession allowed |
| Upto 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 |
Also read: Rising Medical Bills in India: Why Health Insurance Is No Longer Optional
Revival Steps
- Check eligibility: Ascertain that the policy has expired within the terms of paying premiums and has not expired, it is within five years of the initial non-paying premium.
- Make and remit dues: Determine the balance of premiums with interest (campaign concessions up to ₹5000 or 100 percent on micro plans); make payments through online portal, branch or app
- Full health declaration: File Form 680 or medical documents when it is necessary (no compromises when it comes to health checks).
- Revise application: Fill and submit application (online or offline at licindia.in) with policy information and reason of lapse.
- Wait to be approved: LIC checks and reinstates revival, resumes full coverage.
Policyholder Guidance
Revival to benefit without new policies go through their official website which is licindia.in,or visit branches or talk to agents. This campaign facilitates recovery in the face of economic demands.
This should serve as a window that policyholders can use to revive policies to have a continuous cover and make the most out of their investments. So what are you waiting for, save 30% on your late fees for your lapsed insurance premium.
Written By Jayanth R Pai
