Mumbai: The Life Insurance Corporation of India (LIC) has launched a nationwide ‘Special Revival Campaign’ to provide policyholders an opportunity to restore their lapsed insurance policies. The campaign will run from August 18 to October 17, 2025, and will cover eligible individual policies that have lapsed.
As part of the initiative, LIC is offering concessions on late fees of up to 30 per cent, capped at Rs 5,000, depending on the premium amount.
For micro-insurance policies, policyholders will receive a 100 per cent waiver on late fees.
Under LIC’s revival rules, policies can be reinstated within five years from the date of the first unpaid premium, provided they are still within the premium-paying term and have not matured. All revivals will, however, be subject to normal medical and health requirements, with no relaxation in this regard.
The campaign seeks to assist policyholders who may have defaulted due to financial or personal hardships. In a statement, LIC said: “Policies must be kept in force to ensure full insurance benefits. Reviving a lapsed policy not only restores protection but also strengthens financial security for families.”
Policyholders are encouraged to use this limited-period opportunity to restore their coverage and safeguard the financial well-being of their loved ones.