LIC: Let us tell you according to an update from LIC. That after the closure of the country’s largest company LIC Insurance, these people are being given a discount of 30 percent when a campaign is implemented to start the policy. Due to which the customers will get full benefit.
New Delhi: The country’s largest insurance company LIC i.e. Life Insurance Corporation has started a campaign to restart the discontinued policies.
Through this, LIC is trying to restart the policy which had been closed due to non-payment of premium, so that the policyholder can get the full benefit and coverage of the policy.
According to the information given on the website of LIC, this campaign will run from September 1 to October 31. Under this special campaign, if a person starts his discontinued LIC policy, he will be given a discount of up to Rs 4,000.
How to start lapsed policy of LIC?
If a person does not pay the premium of his insurance policy on time, then the policy ceases to exist as per the terms and conditions, unless you start it again.
Any lapsed policy can be easily repaid by paying the outstanding premium. However, along with this you will also have to provide interest on the outstanding premium and information about your health.
Under this campaign of LIC to start the lapsed policy, exemption is being given on late fees. If your premium outstanding is up to Rs 1,00,000, you will be given a discount of 30 percent on late fees and a maximum of Rs 3,000.
At the same time, if your dues are between Rs 1,00,001 to Rs 3,00,000, then a discount of 30 percent and a maximum of Rs 3,500 will be given on late fees. Apart from this, if the outstanding is Rs 3,00,001 and above then a discount of 30 percent and a maximum of Rs 4,000 will be given.
