~ Up to 30% Late Fee Concession Offered; Campaign Valid Till March 2, 2026 ~
Life Insurance Corporation of India (LIC), the country’s premier public sector insurance provider, has announced a Special Revival Campaign aimed at helping policyholders revive their lapsed individual insurance policies. The campaign will be effective from January 1, 2026, to March 2, 2026, and is expected to benefit a large number of LIC policyholders across Mumbai and the Mumbai Metropolitan Region.
The initiative has been introduced keeping in mind policyholders who were unable to pay premiums on time due to unfavourable personal or financial circumstances. LIC has reiterated that policies must remain in force to ensure full insurance protection and long-term financial benefits.
What the LIC Special Revival Campaign Offers
Under this one-time campaign, LIC is offering concessions on late fees for eligible Non-Linked Insurance Plans, allowing policyholders to restore valuable insurance cover at a reduced cost.
🔹 Late fee concession of up to 30%, subject to a maximum cap
🔹 Full waiver (100%) of late fees for Micro Insurance Plans
🔹 Policies can be revived within five years from the date of the First Unpaid Premium, subject to policy terms and conditions
Important: There are no concessions on medical or health requirements. Policyholders will need to meet standard medical norms, wherever applicable.
Late Fee Concession Slabs
| Total Receivable Premium | Late Fee Concession | Maximum Concession |
|---|---|---|
| Up to ₹1,00,000 | 30% | ₹3,000 |
| ₹1,00,001 to ₹3,00,000 | 30% | ₹4,000 |
| ₹3,00,001 and above | 30% | ₹5,000 |
| Micro Insurance Plans | 100% | Full Waiver |
**Terms and conditions apply.
Who Should Take Advantage of This Campaign?
This revival drive is applicable to:
- Policies that have lapsed during the premium-paying term
- Policies where the policy term has not been completed
- Policies lapsed for up to five years
- Individual Non-Linked LIC policies
- Micro Insurance policyholders, who receive complete late fee relief
Linked plans (ULIPs) are not covered under this campaign.
Why LIC Is Encouraging Policy Revival
LIC has emphasised that reviving an old policy is often more beneficial than purchasing a new one, as it helps restore:
- Life insurance protection
- Accrued bonuses
- Maturity and survival benefits
- Financial security for family members
The Corporation reiterated that it values its policyholders and their desire to stay protected, and this campaign is a step towards helping families regain financial stability and peace of mind.
What Mumbai Policyholders Should Do Now & Where to Get Help
Mumbai-based policyholders are encouraged to take timely action by visiting their nearest LIC branch or getting in touch with their LIC agent to initiate the revival process and complete all formalities well before March 2, 2026. Early action will help avoid last-minute delays and ensure uninterrupted restoration of insurance cover and policy benefits.
For further information or assistance, policyholders may also contact
the Executive Director (Customer Care), Life Insurance Corporation of India,
Central Office, Mumbai,
email at ed_cc@licindia.com, or visit the official LIC website at www.licindia.in.
