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Home / Policy Services / Revival

Revival

Procedure for Revival :

Revival of a lapsed policy is considered either on Non-Medical basis or on Medical basis depending upon the age of the life assured at the time of revival and the sum to be revived i.e. sum assured  less the paid up value as on the date of lapse.

If the revival of the policy is completed by payment of over-due premium within 14 days from the days of expiry of the days of grace a simple revival charge of Re.1/- in respect of policies issued on or after 15-9-1972 and Re.0.50 in respect of policies issued prior to 15-9-1972 only is required, no matter  what the amount of premium may be.  No evidence of good health is required in such cases. For policies issued on or after 01.01.87, the actual late fee for one month subject to a minimum of Rs.2/- will have to be paid.

Procedure of Revival   Policies eligible for revival   
   Special notes   Simplified Example

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