Life Insurance Corporation of India has come up with a good plan for its customers. LIC has said that it wants to provide convenience to its customers who had earlier taken our life insurance policy. But due to some issues, he was not able to pay the premium.
Life Insurance Corporation of India (LIC) is starting a two-month special Revive campaign from Monday 23rd August to 22nd October. It aims to reintroduce specific policies at affordable rates, which do not include term insurance and expensive covers.
Life Insurance Corporation of India has said in its statement that we will fully help those customers who due to any problem delayed the premium payment and have not paid it yet.
LIC said that we are going to start this facility very soon, but you should know that the company has also said in its statement that this plan will not benefit those customers who have taken any big life insurance plan.
Life Insurance Corporation of India clearly said that this plan of theirs is for those small customers who have taken small term life insurance plan.
In view of the prevailing circumstances, the late fee is being waived, there is no exemption for medical requirements, the statement said. Eligible health and micro insurance plans are also eligible for a late fee waiver.
If the total premium received is up to Rs 1 lakh, LIC will waive 20 per cent late fee up to Rs 2,000.