Special Revival Campaign for Lapsed policies – LIC – 2019-20
LIC of India has launched a limited period 63rd Anniversary Special Revival Campaign, to promote the revival of lapsed policies. You get ‘special discounts’ on interest to be paid and ‘health requirement concessions’ during this campaign period. The period of the campaign will be from 16/09/2019 to 15/11/2019.
How to calculate the amount required to revive your lapsed policy?
Life Insurance Policies get lapsed when the premium is not paid within the grace period. You may lose the valuable insurance coverage, once the policy has lapsed. To revive a lapsed policy, you will have to satisfy health requirements and pay the entire dues till
Special revival campaign – eligible policies
- Lapsed policies under all types of plans (except Micro Insurance and ULIP plans) are eligible for revival.
- Policies which are in lapsed condition for more than 6 months from first unpaid premium (FUP) as on date of revival shall be eligible.
- The lapsed policy should not have completed the term of the plan.
- Policies which are in a lapsed condition for a period more than 5 five years, shall be eligible, only if, the plan can be revived otherwise, as per existing rules.
Special revival campaign – concession in late fee
Total Receivable Premium | % of concession allowed | Maximum Concession Allowed |
---|---|---|
up to Rs. 1,00,000 | 20 % | Rs. 1,500 |
From 1,00,001 to 3,00,000 | 25 % | Rs. 2,000 |
From 3,00,001 and above | 30 % | Rs. 2,500 |
Special revival campaign – Other conditions
- Concession allowed only if arrears of premium with interest and revival requirements (if any) are provided at the time of revival.
- Late fee concession will not be allowed if the policy was revived in previous campaigns and has availed any discount.
- Concession in late fee will be allowed for all types of revivals including Loan-cum-Revival, SB-cum-Revival and installment revivals.
- Late fee concession will be available even if the revival amount is adjusted from the policy deposit provided the adjustment is done during the campaign period.
Special revival campaign – Concession in health requirement
Policies can be revived by submitting a satisfactory declaration of good health (DGH) instead of regular health requirements, if the following three conditions are satisfied.

- Premium under the policy has been paid for at least full 5 years as on date of revival and the age of life assured is 45 years or less. (Irrespective of the sum to be revived)
- Policy has been accepted/ revived at ordinary rates or with extra other than on health ground.
- In the Declaration of health (DGH) submitted by policy holder, there is no adverse information about health or personal history.
Special revival campaign – Exclusions for granting concession in health requirements.
- Concession will not be allowed if the policy was revived in previous revival campaigns.
- Term Assurance plans and other high risk plans are excluded.
- Any policy issued with term assurance rider and critical illness rider will also be excluded.
Special revival campaign – Forms required.
You can download forms required for revival of policies from the link provided below.
Click here to ⇒ Download form required to revive lapsed LIC policies
Special Revival Campaign floated by LIC is a great opportunity to revive lapsed polices and regain the invaluable insurance coverage with a rebate in interest amount and special concessions on health requirements. For more details contact your nearest LIC branch office.

Anish L J is a ‘Financial Planner’ and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.