How to revive lapsed LIC insurance policy? A step-by-step guide

LIC Policy Revival: Life Insurance Corporation of India (LIC) runs many types of schemes for its customers. Most of the schemes of LIC are for a long time. If for some reason you are unable to pay some premiums continuously, then your policy is stopped midway.

However, whenever a policy is stopped, the insurance company gives a chance to revise it for 2 years. In such a situation, you have a chance to restart that policy. If you also want to restart your closed LIC policy, then know here what is the way to do it.

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This is the way to restart the policy

The policyholder has to pay all the outstanding premiums and interest to restart the policy. To restart the policy, the policyholder can complete the LIC policy revision process by visiting the agent or branch. For this, inquiries can also be made by calling customer service. Any special report or medical report required to restart the policy is paid by the policyholder.

Also Read: IT department warns taxpayers about fake messages and emails

What is unclaimed amount

Many times account holders are unable to deposit the premium due to various problems and do not even surrender the policy. In such a situation, their money remains with LIC. On the other hand, if a policyholder dies due to any reason and the nominee does not claim the amount for years, then such money is considered unclaimed after a certain period. The facility to check such unclaimed money is also given to you by LIC.

Check the unclaimed amount like this

To check the unclaimed amount, you have to visit the official website of LIC. After this, come to the bottom and go to Unclaimed Amounts of Policyholders among the options given there and click on it. After this a window will open in which you will be asked for the policy number, name of the policyholder, date of birth and PAN card number. After giving this information, you have to click on the submit button. If you have any money in LIC, it will be visible as soon as you click on submit. After this you have to complete the process of claiming the money.

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