Life December 2019
LIC gives nod to policyholders to revive their policies:
LIC has permitted its policyholders to revive their policies which have been lapsed of over 2 years, in a bid to help improve persistency ratio in an official statement, LIC further said that the policies that have lapsed for more than two years and were not allowed to be revived earlier can also be revived now. LIC said it always makes a better send to revive an old policy rather than discontinuing it and buying a new policy to restore insurance cover.
LIC plans to close many products from November 30.
LIC is planning to withdraw more than two dozen individual insurance products, eight group insurance plans and seven eight riders on November 30. LIC’s some of retail products such as Jeevan Anand, Jeevan Umang, Jeevan Lakshya and Jeevan Labh