LIC scheme: Here’s how you can revive your insurance policy after it lapses

Investors can easily revive their insurance policy by using several ways offered by the LIC. 

New Delhi: Signing up for a scheme by the Life Insurance Policy (LIC) means that you’ll have to pay your premiums on time until maturity or as per the last date of instalment as per the plan. However, in many cases, investors fail to invest in the scheme which eventually leads to a policy lapse. In such a situation, investors can easily revive their insurance policy by using several ways offered by the LIC. But doing that might prove to be a bit costly for investors.  Ordinary Revival of LIC Policy  LIC offers an Ordinary revival method to let investors revive their policies. You can easily revive your lapsed policy within 6 months from the date of policy lapse. However, for this, you’ll have to pay a certain interest amount along with the premium.