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Thread: LIC Policy : Started taking tobacco - should I reinstate my policy?

  1. #1
    NewBie
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    Apr 2009
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    Question LIC Policy : Started taking tobacco - should I reinstate my policy?

    I have bought a LIC policy and since 2004, I am paying all my premium regularly. In 2008, due to some personal financial issues, I had stopped paying the premium. So my policy had lapsed, because the grace period was only one month. Recently I have checked with LIC and they told me that I need to under go for medical checkups to reinstate the policy. During the medical check-up, doctor asked me, "Do you take tobacco?". I said yes. Now LIC said that they could not continue this policy. Please suggest me. Should I reinstate this policy?

    Thank you

    Moneywise



  2. #2
    Super Moderator PolicyWala's Avatar
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    Default

    As the LIC underwriter had said to you that you could not continue this policy. You need to buy another plan and don't forgot to disclose the tobacco disclosure.

  3. #3
    NewBie
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    Default

    Quote Originally Posted by PolicyWala View Post
    As the LIC underwriter had said to you that you could not continue this policy. You need to buy another plan and don't forgot to disclose the tobacco disclosure.
    But why can't I reinstate my old policy?


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