LIC launches special drive to revive lapsed insurance policies

Life Insurance Corporation of India (LIC) on Friday announced the launch of a special two-month-long campaign to revive individual lapsed insurance policies, offering attractive concessions on late fees.

The revival drive will be carried out from January 1 to March 2, 2026, and is applicable to all non-linked insurance policies, LIC said in a statement.

Under the campaign, policyholders can avail concessions of up to 30 per cent on late fees, subject to a maximum amount of Rs 5,000, provided the policy is eligible for revival. The initiative aims to encourage customers to reinstate their lapsed policies and continue their insurance coverage without bearing the full burden of accumulated penalties.

LIC said the special drive is part of its efforts to support policyholders and enhance customer convenience by making policy revival more affordable and accessible.

The corporation has urged eligible policyholders to take advantage of the limited-period campaign and revive their lapsed policies within the stipulated timeframe.