LIC to revive lapsed policies till Oct 15

The Life Insurance Corporation of India (LIC) has gone for a big way to attract the customers with new policies in the medical insurance, besides reviving the old policies, which were defunct for the past five years.

Announcing the new policies and decision of the LIC on its 62 foundation anniversary, Senior Divisional Manager, Lucknow division, Raj Vir Singh said here on Wednesday that several new policies including that for Cancer and pension is the most attractive for the customers.

” In the cancer policy, a patient will get 25 per cent of the insured amount on the first stage of detection and rest 75 on the last stage. Besides, one per cent of the insured amount would be paid to the family every month,” he said.

Mr Singh said that there is a guaranteed pension scheme where one time investment could fetch up to a return of 22 per cent. Appealing to the people to revive their old defunct policies under the new drive to end on October 15, he said that there are around 5.23 lakh defunct policies alone in the Lucknow division covering four districts adjoining the state capital.

” We are giving a subsidy from Rs 1500 to Rs 2500 for the revival of the old lapsed policies,” he said besides asked the customers to register their NIFT mandate with the LIC office along with their mobile numbers for easy transition of the payments.

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