LIC launches special revival campaign for lapsed policies with late fee concessions
Mumbai: The Life Insurance Corporation of India (Life Insurance Corporation of India) has announced a Special Revival Campaign to help policyholders revive individual lapsed insurance policies by offering concessions on late fees.
The campaign will be in force from January 1, 2026, to March 2, 2026, and applies to individual non-linked insurance plans as well as micro insurance policies. Under the scheme, eligible policyholders can avail a late fee concession of up to 30 per cent, subject to a maximum limit, depending on the total receivable premium.
For policies with a total receivable premium of up to ₹1 lakh, a 30 per cent late fee concession is available. Policies with receivable premiums between ₹1,00,001 and ₹3 lakh are eligible for a concession of up to ₹3,000, while those above ₹3 lakh can avail a concession of up to ₹4,000. In the case of micro insurance plans, a full waiver of late fees is being offered, subject to a maximum of ₹5,000. LIC clarified that all concessions are subject to the terms and conditions of the scheme.
According to LIC, policies can be revived under this campaign within five years from the date of the first unpaid premium, provided they are still within the premium-paying term and have not completed the full policy term. The corporation has made it clear that there will be no concessions on medical or health requirements, which will continue to apply as per existing rules.
The insurer said the initiative is aimed at policyholders who were unable to pay premiums on time due to unfavourable circumstances. Reviving a lapsed policy helps restore full insurance cover and ensures continued financial protection for the policyholder’s family.
The announcement was issued from LIC’s central office in Mumbai on January 2, 2026. Policyholders seeking more information have been advised to contact the Executive Director (Customer Care) at LIC of India or visit the corporation’s official website.
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Rupee falls 4 paise to 90.24 against US dollar in early trade
Mumbai (PTI): The rupee opened weak and declined 4 paise to 90.24 against the US dollar in early trade on Monday, as geopolitical uncertainties triggered by the US intervention in Venezuela fuelled the demand for the American currency.
According to forex traders, the rupee is expected to trade lower due to geopolitical development, even though a lower crude prices could provide some cushion.
At the interbank foreign exchange market, the rupee opened at 90.21 against the US dollar and lost further to trade at 90.24 against the greenback in early deals.
On Friday, the rupee settled lower by 22 paise at 90.20 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.36 per cent higher at 98.50.
The US on Saturday carried out a military operation in Venezuela an deposed President Nicolas Maduro. President Donald Trump said the US would "run" the South American country and tap its vast oil reserves to sell to other nations.
Brent crude, the global oil benchmark, was trading 0.07 per cent lower at USD 60.70 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex declined 135.81 points to 85,626.20 in early trade, while the Nifty was down 25.75 points to 26,302.80.
Foreign institutional investors turned net buyers, picking up equities worth Rs 289.80 crore on Friday, according to exchange data.
The latest RBI data released on Friday showed India's forex reserves jumped by USD 3.293 billion to USD 696.61 billion in the week to December 26. The overall kitty had increased by USD 4.368 billion to USD 693.318 billion in the previous reporting week.
