How to Revive a Lapsed LIC Policy (Step by Step)

A policy lapses when a premium stays unpaid beyond the grace period — 30 days for yearly, half-yearly and quarterly modes, 15 days for monthly.

Revival is almost always cheaper than surrendering and buying fresh cover, because your original age and original rates are restored.

You will pay all arrear premiums plus interest, and depending on how long the policy has been lapsed and the sum assured, you may need a declaration of good health or a medical examination.

Use the revival cost estimator in the Servicing Hub to get an approximate figure before you visit the branch, then send us the policy number for the exact LIC quotation.