- LIC has launched the Policy Revival Scheme 2025 offering up to 30% late fee waiver till October 17.
- Eligible lapsed policies can be revived by paying overdue premiums and submitting required documents.
- Policyholders can contact LIC agents, branches, or customer service for help during the campaign.
Life Insurance Corporation of India (LIC) has announced the launch of its Policy Revival Scheme 2025, aimed at helping policyholders restore their lapsed insurance policies. The special campaign, which runs from August 18 to October 17, 2025, offers attractive concessions, including late fee waivers, for eligible customers. The initiative provides an opportunity for individuals who missed premium payments due to financial constraints or other reasons to reinstate their policies and secure their family’s financial protection.
LIC Policy Revival Scheme Eligibility and Conditions
Not all lapsed policies qualify for revival under this scheme. Only individual policies that have lapsed within five years from the first unpaid premium date and are still within the premium-paying term can be revived. Policies that have matured or are beyond the revival period are not eligible. Revival depends on the terms and conditions of the policy, including submitting proof of continued insurability.
Benefits of the LIC Policy Revival Scheme
During this campaign, LIC offers a late fee concession of up to 30%, capped at Rs 5,000, depending on the premium amount. For micro insurance plans, a full 100% waiver on late fees is available. This means you can save a lot on the cost of reviving your policy. However, normal medical and health requirements will still apply without any relaxations.
Also Read – LIC Bima Sakhi Yojana: ₹7000 Per Month Scheme for 10th Pass Women, Here is the Application Process
Step-by-Step Guide to Reviving Your LIC Policy
Reviving your lapsed LIC policy is simple if you follow these steps carefully:
- Contact your LIC agent, visit the nearest LIC branch, or call the customer service department to express your interest in policy revival.
- Pay the overdue premiums along with the applicable late fee (after concession) and interest as determined by LIC.
- Provide proof of continued insurability, which may include medical reports or other documents.
- Complete any required medical examinations or special reports as requested by LIC.
- Once all formalities are done and payments made, your policy will be reinstated and coverage restored.
Required Documentation and Medical Formalities
To complete the revival process, you will need to submit:
- Proof of identity and policy details.
- Payment receipts for overdue premiums and late fees.
- Medical reports or health certificates as required by LIC to confirm your insurability.
Note that any medical or special reports must be arranged by you, and the costs will be paid by the life assured.
How to Contact LIC for Policy Revival Assistance
If you need help or have questions about reviving your policy, you can reach out to LIC through several channels:
- Contact your LIC agent directly for personal assistance.
- Visit the nearest LIC branch office for in-person support.
- Call LIC customer service helpline available on the official website.
- Visit the official LIC website at www.licindia.in for detailed information and online support.
This limited-time campaign is a great chance to restore your insurance cover and protect your family’s financial security. Don’t miss the deadline of October 17, 2025, to take advantage of the late fee waiver and revive your LIC policy today.