Country The largest insurance company of India (LIC) made a big announcement on Monday. LIC of the public sector said that they have started a campaign to re -start the closed individual insurance policy. This special campaign will be run for a month. The campaign to restart the closed insurance policy has started on Monday, August 18 and will run till September 17, 2025. Under this campaign, attractive discounts will be given in late fee for commissioning the policy.
100 percent discount in late fees for micro insurance policy
LIC said in a statement that under this scheme, up to 30 percent discount is being given in late fees for all non-linked i.e. Term Insurance Policy Scheme, which can be up to Rs 5000. At the same time, 100 percent discount is being given in late fees for micro insurance policy (insurance policy for lower income or insurance policy for individual). Under this special revival campaign, the policy can be launched within 5 years from the first premium date made, on meeting the terms and conditions of the policy.
No concession on medical/health requirements
The company has said in its statement that no concession will be given on medical/health requirements. The policy which has expired during the premium payment period and whose policy period has not been completed can be commissioned in this campaign. According to the statement, this campaign has been started for the benefit of the policyholders who could not pay the premium on time due to any adverse situation. LIC said in a statement, “It is always appropriate to revive the old policy and restore insurance cover.”
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