LIC Started Special Campaign: If you are the policyholders of the country’s largest Life Insurance Corporation company, then a good news is coming out for you. Let us tell you that those who are not able to deposit their policy due to any reason, due to which that policy lapses. For them, LIC has started a special campaign to revive the lapsed policies.
Between August 17 and October 21, LIC’s lapsed policy can be activated once again. All non-ULIP policies can be activated under this campaign. In this, you get a lot of concession in Late Fees.
Policyholders will get relief
LIC wants to give relief to policyholders who were unable to pay their premiums on time due to this campaign. Due to this his policy had lapsed. LIC has tweeted about this. The company says that this is an opportunity for LIC policyholders to get their lapsed policy revived.
Arrears not exceeding 5 years
LIC said that in this campaign all other policies except ULIP can be revived. The date of outstanding first premium should not be more than 5 years ago. The company said that 100 percent discount will be given in Late Fees on revival of Micro Insurance Policies. Low amount policies come under Micro Insurance.
You will get this discount
Let us tell you that this time LIC will get 25 percent concession on late fee on outstanding premium up to Rs 1 lakh. The maximum concession in this will be Rs 2,500. The maximum concession will be Rs 3000 on the outstanding premium of Rs 1 to 3 lakh. The concession will be 30 percent on the outstanding premium above Rs 3 lakh. The maximum discount will be Rs 3,500. LIC’s share price was up 0.44 per cent at 11:25 am at Rs 700.90 on August 17 (Wednesday).
LIC’s net income is Rs 682.9 crore
This year the company introduced the IPO in May. It had allotted shares to investors at the rate of Rs 949 per share. The listing of shares was very weak. This stock has continued to decline. It is showing strength for the last few days. In the June quarter, LIC’s net income increased manifold to Rs 682.9 crore. Net income was only Rs 2.94 crore in the same period a year ago.
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