LIC Insurance Policy

[Sonal]

Hello Sir,

I took an LIC insurance policy with a premium per annum Rs 8000/-, after paying for 2 year, I went abroad and I could not pay for the next 2 years. Now I want to pay the arrears. What should I do? Is there any penalty for this?

[rohit]

Contact your LIC branch office. They will advise you on the procedure to revive the policy and charges applicable on this.

[Expert]

The maximum time allowed to pay the premium on discontinuous (Lapsed) Policies
A policyholder can revive his Lapsed (discontinued) policy within 5 years from the due date of his unpaid premium.

[Expert]

One More Point -
Where should I pay the premia for my Lapsed policies ?
You have to approach the PS/Revivals dept. of the original branch only to revive your Lapsed policy and pay the arrears of premia.