LIC Lanka initiates special revival campaign of lapsed policies
All those policies which are under lapsed status for less than five years can be revived. During the Campaign period, revival of eligible policies will be effected by merely submitting a Declaration of Good
Health.
In order to facilitate its valued customers, LIC Lanka has decided to launch a Special Revival Campaign from 01.07.2013 to 30.09.2013 for reviving lapsed polices.
All those policies which are under lapsed status for less than five years can be revived.
During the Campaign period, revival of eligible policies will be effected by merely submitting a Declaration of Good Health. No medical will be required to be done. For example, a person aged 45 years or less can revive his lapsed policy up to a Sum Assured of Rs 1.5 million with declaration of Good health.
Similarly policy holders who are between ages 46 to 50 years can also revive their lapsed policies by submitting only a declaration of good health up to a sum assured of 1 million.
This limit is Rs.500000 and 200000 sum assured for those policyholders who are aged between 51-55 and 56-59 years of age respectively. Policies with higher risk and riders will be dealt separately.
Another unique feature of this revival campaign is waiver of 50 percent of the late fees during the campaign period. This is a great chance for those policy holders whose policies are under lapsed condition to get it revived. They can get their lapsed policies revived by paying just 50% of the late fees and get the protection of Life Insurance Cover.
This information has been given by Harvinder Singh, General Manager (Mktg. & Oprns)/CEO, LIC Lanka, Ltd.
LIC Lanka is a joint venture between Life Insurance Corporation of India, the biggest Life Insurance Company in the world with more than 300 million Policyholders and Bartleet Group which is a century old giant financial service providers in Sri Lanka. LIC Lanka Ltd. has 28 Branches spread across the island.