LIC Policy Inactive Due to Missed Premium? Here’s How to Reactivate It

Updated: 02-07-2025, 06.07 AM

New Delhi – If your LIC policy has lapsed due to non-payment of premiums, don’t worry—you can still revive your policy and restore your financial protection. The Life Insurance Corporation of India (LIC), the country’s largest insurance provider, offers multiple ways for policyholders—both old and new—to reactivate inactive policies. Here’s everything you need to know.

LIC

What Happens If You Miss a Premium?

LIC offers a grace period for premium payments.

For monthly premiums, the grace period is 15 days.
For quarterly, half-yearly, or yearly premiums, the grace period is 30 days.

If you fail to pay the premium within this grace period, the policy becomes inactive or lapsed, and coverage benefits are suspended until reactivation.

How to Reactivate a Lapsed LIC Policy

LIC provides multiple revival options based on how long the policy has remained inactive:

1. Ordinary Revival

Applicable if the policy has lapsed within the last 2 years.
You need to pay all unpaid premiums along with interest (8–10%).
A health declaration (no medical tests) is generally required.

2. Special Revival

Ideal for policies that have lapsed between 2 and 5 years.
Allows policyholders to reset the commencement date of the policy to make revival easier.
Terms are adjusted as per LIC’s current age and policy rules.

3. Loan-cum-Revival

If your policy has acquired surrender value, LIC allows you to take a loan against the policy.
The loan amount can be used to clear outstanding premiums, reviving the policy without upfront payment.

4. Installment Revival

Allows you to pay the due premium in easy installments instead of a lump sum.
Suitable for those who are unable to pay all dues at once.

5. Revival Campaigns

From time to time, LIC runs special revival campaigns.
These offer benefits like waiver or reduction of late fees, simplified medical requirements, and flexible revival terms.
In cases where the policy has remained inactive for a long time, LIC may ask for medical reports depending on the sum assured.

How to Reactivate Your Policy

Visit your nearest LIC branch or get in touch with your LIC agent.
Fill Form 680 or the policy revival form.
Submit required documents like Aadhaar, PAN, and a health declaration (if needed).
Pay all pending premiums plus applicable interest.
In some cases, a medical examination may be required.

How to Check Policy Status

You can check the current status of your LIC policy by:

Logging into the LIC e-Services portal
Calling customer care (LIC helpline: 022-6827 6827)
Visiting the branch and providing your policy number

Final Word

Don’t let a missed premium jeopardize your future financial security. LIC’s flexible revival options ensure that you can bring your policy back to life with minimal hassle. Whether you’ve missed payments recently or your policy has been dormant for years, reaching out to your LIC branch today can help you restore your life cover benefits.

Author Profile

Kuldeep Singh Chundawat: My name is Kuldeep Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.