Is your LIC policy lapsed due to missed premium payments? Don’t worry — LIC offers multiple revival options, especially in 2025, with simplified processes and flexible terms. In this post, we explain how to revive a lapsed LIC policy step by step, what documents you’ll need, and the different revival schemes you can use.
What Is a Lapsed LIC Policy?
A policy is considered lapsed when the premium is not paid even after the grace period (30 days for yearly/half-yearly/quarterly, and 15 days for monthly modes). In such a case, the life cover ceases, and your investment benefits may also stop.
Why You Should Revive a Lapsed LIC Policy
Reviving your lapsed policy ensures:
- Restoration of life coverage
- Reinstatement of maturity and survival benefits
- Continuity of loyalty additions and bonuses
- Avoidance of fresh medical underwriting and higher premiums if you buy a new policy later
2025 Revival Schemes by LIC
LIC usually runs revival campaigns every year, and in 2025, policyholders can expect the following types:
- Ordinary Revival: Pay all dues with interest and provide a health declaration.
- Special Revival: Suitable if your policy lapsed 2–5 years ago. You can change the policy’s commencement date.
- Instalment Revival: Pay revival amount in instalments.
- Loan-Cum-Revival: Policy is revived using the surrender value as a loan.
- Revival Campaign Waivers: LIC may offer concessions in late fees during special revival campaigns (expected in 2025).
Step-by-Step Process to Revive a Lapsed LIC Policy
Step 1: Visit Your LIC Agent or Nearest Branch
Talk to a trusted LIC agent in Gurgaon or visit your local LIC branch to check your policy’s status.
Step 2: Submit a Revival Request
You’ll need to fill out Form 680 or a revival request form provided by LIC.
Step 3: Pay Outstanding Premiums + Interest
Pay the missed premiums with interest (currently around 8–10%).
Step 4: Health Declaration / Medical Tests
For policies lapsed over 6 months or high-sum insured plans, medical reports or health declarations may be required.
Step 5: Get Confirmation of Revival
Once approved, you’ll receive an official confirmation, and your policy becomes active again.
Documents Required for Revival
- Original Policy Bond
- Government-issued ID proof
- Passport-size photograph
- Income proof (for high-value policies)
- Health declaration or medical test report (if applicable)
- Revival Form (Form No. 680)
Tips to Avoid Future Lapses
- Opt for ECS/auto-debit for timely payments
- Use LIC’s online payment portal or mobile app
- Keep reminders before the due date
- Stay in touch with your LIC agent
Why Revive Through InsuringGurgaon.com?
At InsuringGurgaon.com, we offer personalized assistance in policy revival. Whether your policy lapsed 1 year ago or 5 years ago, we:
- Evaluate the best revival scheme
- Help you prepare all necessary documentation
- Assist with medical appointment coordination (if needed)
- Keep you informed about revival campaigns in 2025
Need help reviving your lapsed LIC policy? We make it easy. This article covered everything from why policies lapse to how to revive them using LIC’s 2025 schemes. Whether it’s your first revival or a complicated case, InsuringGurgaon.com is here to help.
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