LIC is giving a chance to resume the policy which has been closed, will be able to revive by 9th October

 

If your LIC policy has lapsed due to some reason then you can start it again. Life Insurance Corporation of India (LIC) is offering a great opportunity to revive it. Policyholders are getting a chance to revive the policy that has been lapsed by 9 October. LIC said that under this, they will get the opportunity to revive the same policy which will be within 5 years from the date of filing the premium. Policyholders will get up to 30% discount on late fees. There will be a discount of 20 per cent on late fees of up to 1 lakh. A rebate of 25 per cent will be given for late fees between Rs 1 lakh and Rs 3 lakh. 30 per cent discount will be given on late fees of more than Rs 3 lakh.

 

LIC's new premium income has risen by 25.2 per cent to an all-time high of Rs 1,77,977 crore in 2019-20. However, during this period the company paid a policy of Rs 2,54,222 crore, which was 1.31 per cent higher. LIC continues to be the market leader in the life insurance sector with 75.90 per cent share and 68.74 per cent share in first year premiums.

 

The total investment of 20 lakh crores LIC is also the largest institutional investor company in the country. Its total investment in the country is 20 lakh crores. Its net profit in 2019-20 is Rs 2.6 lakh crore. Which is more than other companies.