If your LIC policy lapsed, you’re in luck. The Life Insurance Corporation of India (LIC) has launched a campaign to bring back individual lapsed policies.
Celebrating its 67th anniversary on August 31, 2023, LIC announced a special campaign commencing on September 1, 2023.
If your policy lapsed due to missed premium payments, your policy contract’s terms and conditions remain inactive until you revive it.
You can reinstate your policy simply by paying the overdue premiums.
What is a lapsed policy?
A lapsed policy occurs when you fail to make premium payments within the specified timeframe, leading to the termination of insurance coverage.
However, LIC offers the opportunity to revive a lapsed policy by settling all overdue premiums, including interest as per the Corporation’s prescribed rates.
It’s important to note that LIC reserves the right to accept or decline policy revival requests.
How to access LIC policy services via WhatsApp
Begin by typing ‘Hi’ and sending it to 8976862090 using the WhatsApp application.
You will receive a list of 11 options. To select a specific service, reply with the corresponding option number.
For instance, if you wish to know when your next LIC policy premium is due and the amount you need to pay, simply send ‘1.’
