New Delhi, August 18, 2025: The Life Insurance Corporation of India (LIC) on Monday announced a special revival campaign aimed at helping policyholders restore their lapsed policies. The month-long initiative will run from August 18 to October 17, 2025.
The campaign covers all non-linked insurance policies and offers concessions of up to 30 percent on late fees, with the maximum benefit capped at ₹5,000. For micro-insurance policies, LIC is offering a complete waiver of late fees to make risk cover more affordable.
According to LIC, policies can be revived within five years from the date of the first unpaid premium, provided they meet the policy terms and conditions. Only policies that have lapsed during the premium-paying term and have not yet completed their term are eligible. The corporation clarified that medical and health requirements will remain unchanged under the scheme.
The initiative is designed to assist policyholders who could not pay premiums due to unforeseen circumstances, ensuring they can keep their policies active and continue to receive full insurance benefits.
In a statement, LIC said: “It is always advisable to revive an old policy and restore insurance cover. LIC values its policyholders and their commitment to securing their family’s future.”
