Life insurance policy is very important for any person today. With its help, a person keeps his family financially secure. After taking a life insurance policy, one has to pay a fixed amount every month as installment for a long period of time. Many people are unable to pay the installment due to personal reasons and their life insurance policy lapses. To introduce such lapse policies, LIC has started a drive which is due to expire on March 25. In such a situation, you can revive those LIC policies whose period has not expired yet.
Survive the last seven days: LIC has started LIC Special Revival Scheme 2022 on 7th February to revive the discontinued policies which is ending on 25th March. Under this scheme, policyholders are also being given a rebate in late fees on resuming the discontinued policy.
Late Fee Waiver: Under the LIC Special Revival Scheme 2022, all policies except term insurance and high risk plans will get discounts. According to LIC, on policies with a premium of up to Rs 1 lakh, there will be a rebate of 20 percent in late fees or a maximum of Rs 2 thousand. A policy with an annual premium of up to Rs 3 lakh will get a discount of 25% or a maximum of Rs 2,000. A discount of 30 percent or more will be available on policies of Rs 3 lakh or more.
LIC Special Revival Scheme 2022 has been launched for those people. Those who have not been able to pay the premium of the policy on time due to any reason. On starting the policy, such people will get all the facilities as before.
It is always a profitable deal for any person to start his old policy which has been discontinued. If you do not get your old policy started, all the premiums that were paid before the closure of this policy will go in vain.