LIC policy has been closed due to some reason, you can renew it, know
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Life Insurance Corporation of India (LIC) has started a campaign to revive old insurance policies that were closed before maturity. This campaign will run from February 1 to March 24. LIC policy holders who have discontinued their policies due to any reason can revive them.
Late fee for premium is waived in this campaign, and late fee and premium are waived. Policy holders will get late fee up to Rs 1 lakh and 25 per cent discount on premium up to Rs 3 lakh. There will be a discount of 30 per cent on premiums above Rs 3 lakh.
The policy can be continued for five years from the date of unpaid premium. On eligible NACH and BILL Pay registered policies, Rs. Special offer late fee of Rs.5 may be charged. The premium can be paid online, at LIC office or through an agent.
High risk plans like term insurance, health insurance and multiple peril policies will not be eligible for this policy. Policies which have lapsed within the premium paying term but are not complete as on the date of revival shall be eligible for revival.
LIC offers plans for every age group from children to the elderly. These policies not only provide protection but also provide savings.
This campaign launched by LIC is a great opportunity for policy holders who had discontinued their policies before maturity, to revive them with waiver on late fee and premium. Policy holders should take advantage of this offer and resume their policy.
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