The campaign was launched for policyholders, who were unable to pay Premia on time due to unfavorable circumstances. | Photocredit: Reuters
The Life Insurance Corporation of India (LIC) has launched a special campaign to breathe new life into expired insurance policies from 18 August 2025 to 17 October 2025. As part of the initiative, LIC offers concessions of a maximum of 30 percent on late fee.
In a statement, LIC said that all non-linked insurance plans that are eligible under the ‘Special Revival Campaign’ are subject to an exemption of a maximum of 30 percent on late fee, up to a maximum amount of £ 5,000.
The maximum concession permitted under the unpluged insurance plan, with a total debt premium (TRP) of a maximum of £ 1 Lakh is £ 3,000; £ 4,000 for TRP from £ 1.00.001 to £ 3 lakh and £ 5,000 for TRP of £ 3.00.001 and higher. For microl insurance plans there is 100 percent concession for late costs.
For insurance companies
As part of this campaign, policy can be revived within 5 years of the date of the first unpaid premium, subject to the policy conditions. Furthermore, policy that expires during the premium paid period and not the completed policy period are eligible to be revived. There are no concessions about medical/health requirements.
“The campaign has been launched for policy holders who were unable to pay Premia on time due to unfavorable circumstances. Policy must be in force to get full insurance benefit. It is always advisable to breathe new life into an old policy and to restore the insurance coverage,” Lic explained.
Published on August 18, 2025
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