LIC Update – Easily Start your closed policy, Know here how

If your life insurance policy (LIC policy) has also been closed due to any reason, then there is no need to worry.

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Since LIC has started a special drive to revive similar discontinued policies, there is not much to worry about.

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This campaign will start from 17th August till 21st October. The campaign allows revival of all discontinued policies that do not fall under the ULIP category.

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Paying the late penalty will enable you to resume any of your discontinued policies if they have been closed for several months.

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Customers whose policy has been discontinued due to non-payment of premium can start a new policy under this campaign if they are unable to pay the premium.

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All except ULIP-linked insurance plans can be restarted by the country’s largest insurance company LIC.

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There is a 25% rebate on late fee for premium balance of Rs 1 lakh. The maximum exemption in this case has been fixed at Rs 2,500.

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