LIC Scheme: Life Insurance Corporation of India (LIC) has started a campaign to revive all old insurance policies that were closed before maturity.
LIC Insurance Policy: If you invest in LIC’s policy, then LIC has brought a good opportunity for you. Life Insurance Corporation of India (LIC) has started a campaign to revive old insurance policies that were closed before maturity. This campaign has started from February 1 and will run till March 24. Those LIC Policy Holders who have stopped their policy due to some reason, they can start it again.
According to the report of Money9, during this campaign of LIC, late fee for premium has been waived, and late fee and premium have been waived. Policyholders will get a late fee of up to Rs 1 lakh and a 25 percent discount on premiums up to Rs 3 lakh. There will be a discount of 30 per cent on premiums above Rs 3 lakh.
How to pay premium
The policy can be revived up to five years from the date of unpaid premium. On eligible NACH and BILL Pay registered policies, a special offer late fee of Rs.5 may be levied. The premium can be paid online, at LIC office or through an agent. High risk plans like term insurance, health insurance and multiple risk policies will not be eligible for this policy. Policies which have lapsed within the premium paying term but have not been completed by the date of revival shall be eligible for revival.
A great opportunity for policyholders
LIC offers plans for every category from children to the elderly. These policies not only provide protection but also provide savings. This campaign launched by LIC is a great opportunity for those policyholders who had discontinued their policies before maturity, to revive them with waiver on late fee and premium. Policyholders should take advantage of this offer and resume their policy.
