Is there an old LIC policy lying at home? Great opportunity to restart, you will get huge discount of 30% on late fees!

LIC lapsed policy revival scheme 2026: This is a news of great relief for lakhs of people, whose Life Insurance Corporation of India (LIC) policy was discontinued due to non-payment of premium. If any of your old policies have lapsed, now you can not only restart it but can also get a bumper discount of up to 30% on the late fees charged on the premium. LIC has launched a special revival campaign to give customers this golden opportunity, which is available for a limited time only.

How long is this opportunity?

This special campaign of LIC will start from 1 February 2026 and will run till 24 March 2026. This could be the last chance for those who want to get their savings and family’s financial security back on track.

How much discount will be given on late fees?

Under the campaign, LIC is offering huge concessions to policyholders on late fees charged on their total outstanding premium, which is as follows:

• On total premium up to Rs 1 lakh: 25% discount on late fees.
• For premiums ranging from Rs 1 lakh to Rs 3 lakh: 25% discount on late fees.
• For premiums above Rs 3 lakh: Huge 30% discount on late fees.

Apart from this, for policies whose premium payment is set through NACH or Bill Pay, only a nominal fee of Rs 5 will have to be paid for reviving them.

Can your policy be revived again?

It is very important to know which policies will get the benefit of this campaign. As per rules, only those policies which have lapsed not more than 5 years (from the date of first unpaid premium) can be revived. Term insurance, health insurance, and other high-risk policies have been excluded from this campaign. This exemption is mainly for traditional savings and endowment plans.

Revive your policy like this sitting at home

The process to restart your lapsed policy is very simple:

1. Check Status: First of all, check the status of your policy by visiting the official website of LIC or ‘LIC Mitra’ app.
2. Revive Online: You can complete the process by logging into the LIC portal, selecting your lapsed policy and making the online payment for revival. The discount amount will be automatically applied by the system.
3. Contact Agent or Branch: You can contact your LIC agent or visit your nearest LIC branch and get the policy easily revived.

This is a great opportunity to reinvigorate the financial security of you and your family. If you also have an old discontinued LIC policy in your house, then take advantage of this campaign without any delay.