LIC ka special offer: Life Insurance Corporation of India Limited (LIC of India) has once again given people the facility to start a discontinued policy.
LIC ka special offer: Life Insurance Corporation of India Limited (LIC of India) has once again given people the facility to start a discontinued policy. Under this, people will get 30 percent rebate on re-starting the policy. Special Revival Campaign has been started by the company. This campaign has started from 7 January and will run till 6 March 2021.
Have to pay some late fees
Starting a discontinued policy is a profitable deal because the premium of the insurance policy is determined by age. If the discontinued policy is restarted, then some late fees will have to be paid. However, before starting the policy, some questions related to Kovid-19 will also have to be answered. This is because such a guideline has come from the government.
Discount will be available
LIC has said that up to 20 per cent will be waived in the late fees incurred on re-renewing the policy. At the same time, if the annual premium is between one to three lakhs, then there can be a discount of 25 percent in late fees. There will be a discount of 30 percent or Rs 3,000 on the premium of Rs 3,00,001 and above.
Facility will continue till March 6
Significantly, there will be a facility to restart the policy which has been closed for 5 years. This facility will also be available in LIC’s satellite offices across the country. People will also not need to undergo special medical examination. During this time, the consumer will be given permission to resume the policy prematurely with some conditions. It has been decided to continue this facility till 6 March. Earlier, such a campaign was also conducted from August 10 to October 9.
These policies will not benefit
Apart from this, LIC has said that it will not get benefit on high risk plans like term insurance, health insurance, multiple risk policies. Policies which have lapsed in the premium paying term and whose term has not been completed till the revival date, can be revived in this campaign.
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