Need A Financial Product › Forums › Insurance › What is a policy Revival?

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • September 28, 2014 at 2:46 am #47624
    samkapoor77
    Keymaster

    What is a policy Revival?

    September 30, 2014 at 7:48 am #47625
    Sameer Kapoor
    Participant

    The dictionary meaning of the word, ?revival? is ?to bring back to life?. In case of LIC ?Revival? is needed when a policy get lapsed if the premium is not paid within the grace time of minimum 1 month (minimum 1 month if mode of payment is yearly, half yearly and quarterly and 15 days if the mode is monthly). If anyhow the policy gets lapsed. Then the policy is can be revived anytime within the period of five years from the period of first unpaid premium FUP. There are five different types of revival.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.