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LIC Special Revival Campaign: Life Insurance Corporation of India is the largest and oldest life insurance company in the country. It has crores of policy holders across the country. Many times after taking the policy, people forget to pay its premium and the policy gets lapsed. If this has happened to you too, then LIC is giving you a golden opportunity to start the policy again. Life Insurance Corporation of India has started ‘LIC Special Revival Campaign’ to start the discontinued policy. This campaign will start from February 1 and will run till March 24, 2023.
The special thing about this campaign is that LIC is giving a huge discount even on the late fee for starting the policy. In such a situation, if your policy has also lapsed and you want to revive it, then this is a golden opportunity for you. Let us know which policies can be revived through this campaign. Along with this, what is its process-
You can revive the policy that has been closed for 5 years
LIC is providing the facility to revive lapsed policies within 5 years through this special revival campaign. Generally, LIC does not provide the facility to revive the policy of such a long interval, but in this campaign, the policy holder is getting this special discount. You can get the policy activated by fulfilling certain conditions.
You are getting so much discount on late fee-
Through this campaign, policy holders are getting a huge discount of 30% on late fees. The late fee you will have to pay depends only on the amount of your premium due. A maximum discount of 25% i.e. Rs 2,500 can be availed on a premium of Rs 1 lakh. At the same time, a discount of 25 percent i.e. a maximum of Rs 3,000 can be availed on the premium of Rs 1.1 lakh to Rs 3 lakh. At the same time, you can get a discount of 30% i.e. maximum Rs 3,500 on late fees for premiums above Rs 3 lakh.
It is necessary to pay premium on time
Significantly, while buying LIC’s policy, keep in mind that always deposit its premium on time. Many times after buying the policy, people do not deposit its premium on time. In such a situation the policy lapses. Along with this, the risk cover of the insurance holder also ends. For this reason, after the maturity of the policy, he cannot claim those money. That’s why always try to pay the premium of the policy on time.
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