The Life Insurance Corporation of India (LIC) on Friday announced the launch of a special campaign for the revival of lapsed individual life insurance policies from January 1, 2026, to March 2, 2026. The campaign has been launched for the benefit of policyholders who were unable to pay premiums on time due to unfavourable circumstances.  

Under the special revival campaign, policies can be revived within five years from the date of the first unpaid premium, subject to the policy’s terms and conditions. Policies that are in a lapsed condition during the premium-paying term and have not completed the policy term are eligible for revival under the campaign. Policies must be kept in force to avail full insurance benefits. LIC said it is always advisable to revive an old policy to restore insurance cover, adding that the campaign provides an opportunity for policyholders to ensure financial security for their family members.

The life insurer is also offering concessions on late fees for all non-linked insurance plans, up to 30 per cent of the late fee, subject to a maximum of ₹5,000, if eligible for revival under the scheme.

LIC said that if the total receivable premium is up to ₹1 lakh, a concession of up to ₹3,000 will be allowed. In cases where the total receivable premium is between ₹1,00,001 and ₹3 lakh, customers will be eligible for a concession of up to ₹4,000. For premiums of ₹3,00,001 and above, a concession of up to ₹5,000 will be allowed.

In the case of micro insurance plans, a 100 per cent concession on the late fee will be provided.