LIC Launches Special Drive to Revive Lapsed Insurance Policies

India’s largest life insurer, the Life Insurance Corporation of India (LIC), has announced a nationwide campaign to help policyholders revive their lapsed individual insurance policies. The campaign runs from August 18 to October 17, 2025, offering special concessions on late fees.

LIC Campaign May Offer Up to 30% Off on Late Fees

LIC is offering up to 30% concession on late fees, depending on the premium amount. Here's how it works:

• For premiums up to ₹1,00,000: 30% concession, maximum ₹3,000
• For premiums ₹1,00,001 to ₹3,00,000: 30% concession, maximum ₹4,000
• For premiums above ₹3,00,001: 30% concession, maximum ₹5,000
• For Micro Insurance Plans: 100% concession on late fees

This offer is available only for non-linked insurance plans, and all revivals must meet the terms and conditions of the original policy.

Who Can Benefit?

The campaign is meant for those whose policies lapsed due to non-payment of premiums but are still within the revival period of five years from the first unpaid premium. Policies must also still be within the premium-paying term and not completed the full policy duration.

LIC said the campaign was launched “for the benefit of policyholders who were not able to pay premiums on time due to unfavourable circumstances.”

Why Revive Your Policy?

Keeping your insurance policy active is important to ensure full coverage and benefits. A lapsed policy may not offer any protection in times of need. With this campaign, LIC gives policyholders a chance to restore protection without heavy penalties.

Read more: Fresher Hiring Drops to 70% in the Second Half of 2025 Due to AI Restructuring.

Conclusion

LIC’s revival campaign is a valuable opportunity for those who may have missed premium payments. With attractive late fee concessions and a simple process, policyholders can now bring their lapsed plans back into force. If your policy has lapsed, it’s time to act before October 17, 2025, and ensure your family’s future remains protected.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.