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Life Insurance Corporation of India (LIC) is the largest government insurance company in the country. Along with insurance plans, the company also offers great investment plans. Many times people buy plans according to their convenience and needs, but are unable to pay the premium or forget to renew it, due to which the policy gets discontinued. Let us know how to restart the LIC policy if it gets discontinued.


How To Revive LIC Policy : Life Insurance Corporation of India is the largest government insurance company in the country. Now since the name of the company itself is Insurance, most people think that LIC offers only insurance-related options. But this is not so and LIC offers many investment options along with offering insurance. People can choose the policy according to their convenience and need. After buying the policy, sometimes the policy gets discontinued due to non-payment of premium or non-renewal. In English, this is called a lapse of policy. Let us know how you can start it again if the LIC policy gets discontinued as per the rules,

This is how the policy will be revived

The process of restarting a lapsed or discontinued policy is also called policy revival. If a policy is discontinued, LIC gives the customer a chance to restart this policy for 2 years. In simple words, if the customer pays the late fee along with the premium in the next two years, then his policy is restarted. Here you have to keep in mind that only the Life Insurance Corporation of India has the right to revive or reject the policy.

Revive like this

To restart his LIC policy, the policyholder has to pay the outstanding premium along with interest as per the terms and conditions of LIC. Policyholders can inquire by visiting the LIC agent or the nearest branch. You can also get information about the discontinued policy by calling LIC customer care. Remember that along with all other payments, you will also have to pay the late fee