LIC: new plans to revive the expired LIC Insurance policies!
Posted on: 11/Aug/2020 12:50:48 PM
The Life Insurance Corporation of India has introduced a new system to revive the expired insurance policies.
In a notification released in this regard by the Life Insurance Corporation of India, it is mentioned:
In the trying circumstances of citize3ns’ life3stye under the raging coronavirus pandemic and the lockdown down impositions prevailing, giving due consideration to the customers’ hardships, Life Insurance Corporation of India has introduced a new system to revive the expired insurance policies.
The revival of the expired insurance policies commences today (Monday, 11th August), this scheme would be available until 9th October to revive the expired policies. Until this period, the customers can revive the expired insurance policies for which they could not pay the insurance premium due to pressing emergencies.
With this, these customers will get back the coverage back alive and also avail the bene3fits of the renewed old policies. For this renewal, the policy-holders can avail a 20% concession on the payment. At the same time, these customers can avail 25% concession of Rs. 1 Lakh to Rs. 3 Lakhs under this ne3w scheme.”
