LIC Lapsed Policy Revival in Pune
What happens when a premium is missed, and how the revival process generally works.
If an LIC premium is missed beyond the grace period, the policy typically lapses — meaning the life cover and other benefits are no longer active. LIC generally allows a policy to be revived within a defined revival period, subject to paying outstanding premiums with interest and, depending on how long the policy has lapsed, providing a health declaration or undergoing medical tests.
General Revival Process
- Confirm the exact lapse date and outstanding premium with interest
- Submit a revival request along with any required health declaration
- Undergo medical tests if required based on how long the policy lapsed and the sum assured
- Pay outstanding dues once the revival is approved by LIC's underwriting team
Why Reviving (Rather Than Buying Fresh) Often Makes Sense
A revived policy generally retains its original terms, including the premium rate locked in at the original entry age — buying a new policy instead means paying at your current (higher) age, and losing any bonuses/benefits already accrued. This is why reviving a lapsed policy is often preferable to letting it go and starting fresh, where revival is still within the permitted window and medically feasible.
LIC Policy Revival FAQs
LIC specifies a revival period (commonly a few years from the first unpaid premium, per the plan's terms) — the exact window depends on your specific plan; check your policy document or ask S. Kulkarni for your policy's applicable period.
This depends on how long the policy has been lapsed and the sum assured — shorter lapses may only need a health declaration, while longer lapses are more likely to require medical tests.
Options become more limited once the revival window has passed; discuss your specific policy with S. Kulkarni to understand what, if anything, can still be done.
Get Help With LIC Policy Revival
Share your policy details and requirement — S. Kulkarni will guide you through the next step.