LIC Unveils 'Jeevan Utsav' & Lapsed Policy Revival: Double Bonanza for Customers!

• LIC launches 'Jeevan Utsav Single Premium' scheme from Jan 12, offering lifelong protection with a single payment, independent of market fluctuations.
• Special campaign for lapsed policies from Jan 1 to March 2 allows revival with significant late fee waivers.
• Micro-insurance policies get 100% late fee waiver; other policies receive up to 30% discount.
• Late fee concessions vary by premium amount: up to ₹3000 for ₹1 lakh, ₹4000 for ₹1-3 lakhs, and ₹5000 for premiums over ₹3 lakhs.
• Only policies lapsed within five years of the first unpaid premium are eligible for revival, aiming to support customers and strengthen LIC's market position.

Why It Matters: LIC offers new lifelong savings plan and a major revival opportunity for lapsed policies with fee waivers.