Revive lapsed LIC policy till March 24, 2023: Know how to check your premium due via WhatsApp

An initiative to assist policyholders in reviving expired insurance policies, the Life Insurance Corporation of India (LIC) LIC has undertaken ’Special Revival Campaign’. This campaign, which will run from February 1 to March 24, 2023, is open to policies that have expired during the premium-paying term but have not yet finished the policy term

According to the LIC tweet, “An opportunity to revive your lapsed LIC policy with concession in late fee” Period- 01/02/2023- 24/03/2023.”

Total Receivable
% Late fee concession Maximum concession limit
UP to Rs 1, 00,000 25% Rs 2,500
From Rs 1, 00,001 to Rs 3, 00,000 25% Rs 3,000
From Rs 3, 00,000 and above 30% Rs 3,500

Note that policies can be revived within 5 years from the date of first unpaid premiums as per plan conditions.

Also special offer late fee of Rs 5 (excluding GST) will be levied to all the eligible NACH, and BILL Pay registered policies revived in this campaign.

How to get LIC policy services on WhatsApp

Follow this step-by-step guide to using LIC WhatsApp services
a) Type ‘Hi’ and send it to 8976862090 via WhatsApp application.
b) Then, you will get 11 options to choose from. To select a service, reply in the chat with the option number. For example, send 1 if you want to know when your next LIC policy premium is due and how much premium you have to pay.LIC Whatsapp service
Policyholders who have registered their policies on the LIC portal can avail of these services on WhatsApp
a) Know how much premium is due
b) Bonus information
c) Policy status
d) Loan eligibility quotation
e) Loan repayment quotation
f) Loan interest due
g) Premium paid certificate
h) ULIP-statement of units
i) LIC services links
j) Opt-in or opt out services
k) End the conversation

According to the LIC website, “If your policy has lapsed due to non-payment of premiums within the due date, the terms and conditions of the policy contract are rendered void, till you revive your policy. A lapsed policy has to be revived by payment of the accumulated premiums with interest as well as giving the health requirements as required.”

LIC revivals
As per the LIC website, “If premiums under a policy are not paid within Days of Grace, the policy lapses. A lapsed policy can be revived as per the plan conditions on submission of proof of continued insurability to the satisfaction of the Corporation and payment of all arrears of premiums together with interest at such rate as fixed by the Corporation from time to time. The revival of the discontinued policy shall take effect only after the same is approved by the Corporation.
The cost of Medical Reports, including Special Reports, if any, required for the purpose of Revival of the policy shall be borne by the Life Assured.”

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