LIC’s new biz premium zooms past 25% in April-Sep quarter, to ₹ 1.15 lakh crore

Let’s debunk nine common life insurance myths and offer some valuable personal finance tips to secure your financial future this festive season.

A woman from Faridabad was cheated out of Rs 7 crore, a businessman from Noida lost Rs 9 crore, and a doctor from Punjab’s Bathinda was defrauded of Rs 6 crore. These are just a few of the victims of a massive scam recently uncovered by India's Enforcement Directorate (ED).

New PPF rules effective today streamline account management for minors, multiple account holders, and NRIs, impacting interest rates and regulations.

Policyholders exiting traditional life insurance get more money back starting October 1, 2024. Irdai has asked the insurance companies to offer a higher special surrender value (SSV) for traditional endowment policies from October 1, 2024. The new 'special surrender value' rule mandates higher refunds, offering flexibility to switch plans.

Most victims from Karnataka are educated professionals, particularly techies from Bengaluru, who were duped after being enticed by fraudsters with promises of high returns or IPO allocation. And this has been a trend across the country when it comes to fake broking apps.

5 reasons health insurance claims get rejected

A common mistake is assuming that the value of retirement savings will remain constant over time. For example, a ₹5 crore corpus today will lose significant purchasing power over 25 or 30 years due to inflation.

Gift your sister a term deposit, a SIP in mutual funds, enrol her for a financial planning workshop or book an appointment with a financial adviser to make a personalised investment plan.

A recent report by Apollo Hospitals, one of India's leading healthcare groups, paints a grim picture of the nation's health. Released in April, the report dubbed India the “cancer capital of the world”, highlighting a worrying rise in cancer cases and other non-communicable diseases (NCDs).

Life Insurance Corporation of India (LIC) MD and CEO Siddhartha Mohanty has said that the corporation is looking to make fresh investments of around Rs 1.30 trillion in equities during the current financial year.

The insurance plans were launched on Monday by LIC CEO and MD Siddhartha Mohanty and will be available both available offline and online.

Any individual may submit an updated return, with certain exceptions, irrespective of whether they have previously filed an original, late, or amended return for the applicable assessment year.

ITR Filing Date 2024 Live Updates: The income tax return deadline might be extended beyond July 31. Fresh updates from Income Tax Department on ITR deadline extension! What we know so far about the current status and when to expect refunds after e-verification and processing of income tax return.

As per budget 2024 proposal you will now get a higher amount of payout from your life insurance policy as TDS rate has been reduced to 2%. “It is proposed that TDS under section 194DA of the Act be reduced from 5% to 2%” says explanatory memorandum of budget 2024.

No increase has been announced in the tax rebate under Section 87A of the Income-tax Act in the Budget 2024. Tax rebate under Section 87A makes tax payable zero if an individual's taxable income does not exceed the specified level.

The reduction in customs duties on gold and silver to 6% is expected to stimulate retail demand and help mitigate smuggling issues in the world's second-largest bullion consumer.

Taxpayers eagerly await budget announcements that will increase their disposable income. Here are a few of the main anticipations that taxpayers have for Budget 2024.

The budget 2024 announced the removal of indexation benefit available on sale of property. Due to this many people who sell their property will now not be able to inflate their purchase price and reduce their capital gains.

Union Budget FY25: FM Nirmala Sitharaman presented the 2024-25 budget focusing on job creation and boosting consumption. Key highlights include capex at ₹11.11 lakh crore, tax rationalisation efforts, and schemes for employment, skilling, and women empowerment.

ITR Filing 2024: Penalty amount for filing income tax return after due date will be imposed. Taxpayers need to be alert as the deadline to file ITR is approaching fast.

It is crucial to remember that your financial information holds significant value, encompassing all your investments and earnings for the year. Here are several important considerations to bear in mind before disclosing your ITR details.

The existing standard deduction of Rs 50,000 is considered inadequate to address the rising expenses linked to the increased cost of living and, therefore, it is imperative to raise the limit of this deduction.

The Income Tax Department has issued a strong advisory to taxpayers, advising them against submitting income tax returns with inaccurate claims for exemptions and deductions.

Regularly monitoring your financial records and staying alert for any suspicious activities is crucial for early fraud detection.

In order to file a tax return online, you can access the new income tax portal logging in with PAN-based credentials and following certain steps that simplify tax filing process.

National Insurance Awareness Day 2024: The event is set to be observed on 28 June, this year.

Our health deserves centre stage more than ever. As medical bills skyrocket and unexpected health crises loom, having a health insurance policy acts as a reliable safety net. It ensures you can access necessary care without fretting over finances. Understand six significant perks of having a health insurance policy in 2024.

There are 7 ITR forms the Income Tax Department has notified, and often, taxpayers get confused which ITR form is applicable to them.

Taxpayers required to file their income tax return should take into consideration the following.

Currently, the benefit of section 80C is not available under the default (new) tax regime and it would be expected that this benefit be extended to even the default tax regime.

After the new government formation, the focus is now shifted to the Union Budget 2024-25. Taxpayers are hopeful that the Modi government will give them a tax relief in the upcoming budget. Experts too are of the view that FM Sitharaman would at least make some revision in deduction limits under Section 80C and 80D.

Every taxpayer should make an effort to mitigate their tax liability by claiming all the available deductions and exemptions at the time of furnishing their tax returns. However, such deduction/ exemption amount should be correctly computed after considering the tax regime, residential status etc.

Under Section 30 of the Indian Succession Act, if someone dies intestate, the court may issue a notice to invite claims over the property left behind after the death certificate is issued.

LIC Q4: Its gross non-performing asset (GNPA) stood at 2.01 percent against 2.56 percent in the year-ago period The insurer announced an interim dividend of Rs 6 per share.

The government-owned Life Insurance Corporation (LIC) is looking to foray into the health insurance sector, reports said on May 28. The insurer is currently assessing potential acquisition prospects.

With an eye on expansion, the management outlined plans to penetrate Tier-2, Tier-3, and rural areas, and to fortify its position against private competitors

With a comprehensive financial retirement plan, it is easy to tide over apprehensions of exhausting the corpus that may have been built during the work years.

There are two aspects that cause concern for individuals when it comes to health insurance. The first is the time period for which they will be covered and the other is the cost that they will pay for this coverage. Both are problem points for senior citizens as they often find themselves without a cover when they most need it.

In a landmark move, IRDAI has removed the age limit of 65 years for individuals buying health insurance policies. This marks a departure from the conventional constraints that limited individuals in securing comprehensive coverage. CNBC TV18 spoke to several experts for their take on the policy shift and its implications.

The insurance regulator has made it compulsory for health insurance companies to reduce the maximum waiting period to get complete health insurance coverage in case of pre-existing diseases (PED) from 4 years to 3 years. The regulator modified the definition of pre-existing disease in its IRDAI (Insurance Products) Regulations, 2024, notified on April 1, 2024.

Insurance is one of the most effective ways to manage risks and secure assets; however, the insurance industry has been mainly susceptible to trust issues. Many people believe that insurers do not pay claims, but the data says otherwise; the industry has been paying claims and is bleeding.

A quick guide for policyholders From April 1, 2024, the surrender value is expected to remain the same or even lower if policies are surrendered up to a period of within three years, as per IRDAI.

According to the report, Cathay Life Insurance is the second strongest brand, with a 9 per cent increase in brand value to $4.9 billion

As the current fiscal year is coming to an end, taxpayers are searching for different methods to reduce their taxes.

The Bank of Japan ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus.

The survey, based on responses from over 23,000 respondents, also shows a 43% increase in the number of women purchasing individual coverage

The whole idea why waiting periods exist is that people should not abuse insurance.When there is a pre-existing disease declared in the proposal form, it will have usually a 24- 36 month waiting periodA lot of health insurance policies provide options to the customer to reduce the waiting period for pre existing diseases by paying an extra premium

By working together, insurers, regulators, and stakeholders can further create a more inclusive and equitable insurance ecosystem that empowers women to protect themselves and their families effectively.

International Women's Day: Compared to motor insurance, where over 50 percent women said they understood their policy benefits and clauses, only 32 percent were aware of their health insurance coverage details.

It is said that women are the real architects of society. They play different roles like Mother, Wife, Daughter, Sister effortlessly apart from managing their day to day work.

In every growing society, women are back bone of it and we are proud to say that we play a small part in strengthening the back bone by helping women become financially empowered.

New plan is specifically designed to have an adequate corpus to meet the higher education and other needs of a child, says Life Insurance Corporation of India

The product is targeted at parents who wish to create a long-term corpus to meet the higher education needs of their children.

LIC surged five per cent in open trade, continuing its stellar performance from Thursday when it hit an all-time high.

Life Insurance Corporation of India (LIC) launched a new unit-linked life insurance policy called LIC’s Index Plus this week. It is a non-participating, regular premium, individual life insurance plan which offers life insurance cover cum savings throughout the term of the policy.

The insurer’s net premium income grew 4.67 percent to Rs 1.17 lakh crore in the quarter under review, from Rs 1.11 lakh crore in the year-ago period

Life Insurance Corporation of India (LIC) has launched the unit-linked, regular premium, individual life insurance plan Index Plus, which offers life insurance cover-cum-savings throughout the policy term

Life insurance is an important component of financial planning in India, offering protection and security for loved ones. When selecting a provider, individuals should prioritize those with high claim settlement ratios and swift turnaround times.

Under the 'Cashless Everywhere' system, policyholders will have the liberty to select any hospital for their treatment, breaking away from the limitations imposed by agreements or tie-ups between insurance companies and healthcare providers.

One major expectation is higher government investment in the insurance sector. Higher budgetary allocation, they believe, will provide the sector with the requisite impetus

Wellness benefits are integrated into health insurance plans to engage individuals in activities that promote physical and mental well-being.Wellness points, earned through proactive health measures, can be utilised in various ways.For monitoring individuals' health, various wearables, apps, software and tools are available.

Insurance can be a strategic tool for tax optimization, offering financial safety net and potential tax-saving benefits.

Health costs are rising fast and it has becoming increasingly difficult to cover medical expenses from your own pocket. In such a situation, a family health cover is important to meet medical expenses of your family members.

IRDAI has urged insurers to introduce tailored policies aimed at specific demographics, such as senior citizens and millennials, acknowledging the diverse needs within these segments.

Life Insurance Corporation of India (LIC) has introduced several new plans in 2023 by unveiling a range of compelling insurance products. LIC introduced a product posed to gain substantial traction in the market.

Having insurance coverage is crucial for managing a health emergency, but it’s equally important to maintain financial stability when faced with a health crisis. Often there are many confusions and doubts when you purchase a term insurance plan, but these can be addressed if you carefully assess your requirements

By following these guidelines, policyholders can significantly reduce the chances of claim rejection and ensure a smoother experience with their health insurance coverage

The Indian life insurer stood fourth on the list by S&P Global based on reserves. LIC has reserves of over $500 billion, as per the report. Sector watchers say that Asia is the next major market for growth for life insurance companies.

Life Insurance Corporation of India (LIC) has introduced a novel plan encompassing individual savings and whole life insurance. The plan is called LIC’s Jeevan Utsav with effect from November 29, 2023. This plan is non-linked and non-participating, offering extensive life insurance coverage throughout one’s lifetime.

LIC Jeevan Utsav insurance plan will provide assured returns and after maturity, the policyholder will get 10 percent of the sum assured life long.

Having health insurance is crucial for ensuring financial protection in case of medical emergencies. However, it is disheartening to know that a majority of claims get rejected by insurance companies.

Consider this scenario: Did you buy a health insurance cover of Rs. 3 – 5 lakhs for your family a few years back? At that time, the cover amount would have been adequate, but not today. Consider another scenario: Your employer provides you a health insurance cover of Rs. 3 – 5 lakhs for your family, or you are covered for a similar amount under a State Government health insurance scheme. 

Even treatments that require less than 24-hour can qualify as day-care treatments and are thus eligible for health insurance coverage. Read to know what's included and what's not.

Today (30th October) is World Savings Day, A Special Day which re-emphasizes the importance of savings in our day to day life. Right from our childhood, We have been taught that "A Penny Saved is A Penny Earned'. The Phrase highlights the importance of savings which is an proven way for Financial Success.

To chart out a personal finance strategy without factoring in unexpected medical expenses is practically impossible in today’s world. It wasn’t too long ago when the world experienced an unparalleled health crisis in the form of a deadly pandemic, the after-effects of which can still be felt with long-term health issues. On top of that, the cost of healthcare is rising across the world.

While financial planners plan for retirement, education, marriage, home purchase, travel, etc., they generally miss out on one of the most important life goals – the physical survival goal. Here is how it can be remedied.

Buying health insurance can be a complex process, but it’s important to get it right. By avoiding the common mistakes, you can choose the best health insurance policy for your needs and budget.

Here are some key points to consider before purchasing health insurance policies for senior citizens

The 18 percent refund should sweeten the deal for expat Indians seeking to secure their families back home.

Health insurance is one of the most critical investments you can make keeping in mind the rising medical costs in the country. Getting a health insurance policy at an early age helps in better financial planning. This is because health insurance helps in saving taxes and provides financial assistance for medical expenses.

Rising healthcare costs and inflation are making it increasingly important for senior citizens o have health insurance. As we age, our bodies become more vulnerable to diseases and lifestyle disorders, which can lead to unexpected medical expenses.

There are a number of reasons why a health insurance claim gets rejected. Policyholders can take a few measures to get the claim approved.

To qualify for GST refunds on health insurance, the proposer must be a Non-Resident Indian.

A loan against insurance policy can be helpful during emergencies as it offers considerably higher loan value at comparatively lower interest rates. Many LIC policies come with a loan facility and the loan amount is based on the surrender value of the policy.

Understanding the reimbursement process and adhering to the necessary steps and documentation requirements is essential for a smooth and successful reimbursement claim experience.

Scary as it may sound, with climate change now a reality, all our cities are likely to experience devastating floods. We have seen it in Mumbai, in Chennai, in Bangalore, and very recently in Himachal and Uttarakhand. Let us take the case of Mumbai.

We observe “Life Insurance Awareness Month” in September every year, thus, reminding people of the need to focus on buying a life insurance plan.

Choosing between a term plan and a money back policy can be difficult as they both offer appealing benefits. However, the decision should be based on the specific needs of the insurance buyer.

[Partnered] The right health insurance plan should be chosen after giving considerable thought to your needs, finances, and accessible possibilities. It's an investment in your health and financial stability that gives you peace of mind by ensuring that you and your loved ones are covered in the event of an emergency medical situation.

It's bad enough that you have been incapacitated with some disease or loss that has caused you to lose time and money; what is probably as bad is the paperwork that is inevitable, the processes that must be followed to get your insurance claim processed.

Many people opt for health insurance in their 30s but they often fail to calculate the ideal sum assured or the amount that will be paid by the insurer in case of any unfortunate event.

Health insurance plans help subscribers to meet unexpected medical expenses. Different health insurance plans cover costs of treatment and surgeries for a wide range of medical conditions.

The Finance Act, 2023, amended section 10(10D) of the Income Tax (I-T) Act to remove the exemption available to sum received from a life insurance policy in case the aggregate premium for all policies issued on or after the 1 April exceeds ₹5 lakh.

The Central Board of Direct Taxes (CBDT) issued new guidelines on how tax-exempted maturity amount from a life insurance policy will be calculated in a financial year if the premium paid exceeds a specified level. As per the new guidelines, the maturity amount from life insurance policies bought on or after April 1, 2023, will not be fully tax-exempt.

While thorough research helps to find the best health policy in the market, there are a few factors that could cause problem for the policyholders. In India, health insurance policy holders face several issues from rejection of claim to insufficient coverage.

Check for exclusions, deductibles & limitations in the insurance policies

A hospital cash insurance policy is a specialized health insurance plan designed to provide policyholders with a fixed cash benefit for each day they are admitted to a hospital due to illness or injury.

Choosing the right Health Insurance plan and adequate coverage is crucial

Buy these add-ons early in life to get higher and wider coverage

Richa, a 35-year-old professional, purchased health insurance with a low premium, intentionally failing to disclose her smoking habits and pre-existing heart condition to keep costs down. However, when she required urgent heart surgery a few months later, her insurance claim for the expenses was denied after the company discovered her undisclosed medical conditions during their investigation.

Upgrade your policies as you move from one life stage to another.

LIC Jeevan Kiran (Plan 870): The Life Insurance Corporation of India (LIC) has launched a new plan named Jeevan Kiran.

Inflation is an inevitable aspect of any economy, and its effects can ripple through various financial instruments, including life insurance policies.

Health Insurance: Healthcare costs are skyrocketing significantly. And, this is when health insurance comes in handy. The financial security of an individual is protected by having health insurance. With the ever-rising instances of diseases, health insurance today is a necessity.

Let’s understand differences between Term Insurance and Life Insurance, enabling you to make the right decision when choosing the coverage for your specific needs.

As the rainy season approaches, it brings with it an array of diseases and health risks that can affect individuals of all ages. From common ailments like stomach infections and coughs to more serious conditions such as viral fever, cholera, and malaria, the rainy season leaves us vulnerable to various illnesses if left untreated.

Over 160 dengue cases have been reported in the national capital till mid-July this year, the highest for this period since 2018, according to a municipal report released on Monday, July 17. The report, issued by the Municipal Corporation of Delhi (MCD), also said 54 cases of malaria have been recorded in the same period.

Insurance is an important part of personal finance, especially after the COVID-19 pandemic, when people are choosing life insurance and health insurance to avoid any risk. Insurance can be defined as a contract between an insurance policyholder and an insurance company that secures the finances of beneficiaries and their family members in emergencies.

For individuals living paycheck to paycheck or facing tight budgets, health insurance premiums may be seen as an additional financial burden.

Personal recommendation from friends and family or a known agent is the top trigger for insurance consideration for approx. 80% of the respondents.

The pandemic has undeniably imparted valuable lessons, foremost among them being that "health" is our most precious asset.

Life insurance helps to safeguard individuals and their family against financial risks because of untimely death. Life insurance policies can also be pledged to avail loans during any financial emergency.

LIC Dhan Vridhhi (Plan 869): The Life Insurance Corporation (LIC) of India has launched a new close-ended plan – LIC’s Dhan Vridhhi plan. Check key details

Individuals with a family history of diseases such as cancer or coronary artery bypass should opt for adequate critical illness cover. While a comprehensive health insurance policy provides coverage for expenses like hospitalisation, a critical illness policy will provide a lump sum benefit upon diagnosis of a covered critical illness, regardless of medical expenses.

It is wise to purchase a personal health insurance policy even if you have one through your employer

Section 80D offers tax breaks on health insurance premium paid for self, spouse, children and parents. You can avail of tax breaks at the time of filing returns, even if you have missed out on claiming these while submitting tax-saver investment proofs to your employer

As the medical needs of senior citizens may differ from people of other age groups, it is crucial for them to check the coverage, what is covered and not covered, available optional features and add-ons,

LIC earned net commission of Rs 8,428.5 crore for the last quarter of FY23, growing 5.4 percent over the year-ago period, and showing a massive 33.4 percent increase compared to previous quarter.

Insurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk and losses. Rising inflation, increasing medical costs, increase in lifestyle diseases, uncertainty in climatic conditions are good enough reasons for people to protect themselves with a strong financial cushion.

LIC's Jeevan Azad is a non-linked, non-participating, individual, savings life insurance plan. This is a Limited Premium Endowment plan under which the Premium Payment Term (PPT) is equal to Policy Term minus 8 years.

Know about Health Insurance Policy, its types, benefits and factors to consider while buying the Best Health Insurance Policy

The Reserve Bank of India (RBI) on Friday decided to withdraw Rs 2,000 denomination banknotes from circulation. The central bank said that all Rs 2,000 currency notes must be exchanged before September 30, 2023.

The Indian health insurance industry has seen massive transformation in the last few years. Post the COVID-19 crises, policyholders have turned their attention to the importance of having an appropriate health insurance policy.

The Covid-19 pandemic was a wake-up call for both health insurance companies and policyholders. While it exposed the vulnerabilities in the healthcare system, it also offered the regulator an opportunity to eliminate many lacunas and add new features that can offer enhanced and adequate protection to health insurance policy buyers.

Health insurance has become a high priority financial risk mitigation measure for individuals as well as families. Hospitalizations of family members during Covid-19 showed how grossly unprepared many were financially to meet hospitalization expenses.

How do you plan to wish your mother this Mother’s Day? Mother’s Day would be observed on May 14 this year. Apart from the gifts and flower bouquets that you might consider gifting, why not buy her insurance to secure her health and future in the long run? It’s not surprising to consider gifting insurance to your mother.

If policyholders have higher income and can afford higher medical expenses, they can go for a higher deductible amount to lower the total premium payout.

Facing a term insurance claim rejection can be distressing, particularly when the policyholder is the primary financial provider for the family. Although the policyholder might not be present to address a denied claim, it’s vital to understand and avoid common pitfalls that can lead to term insurance claim rejections.

The purpose of the health insurance is to cover the hospital bills and related expenses. Today, we will give you top reasons why you should buy health insurance today and should not depend only on health cover provided by the employer.

Considering the uncertain times we live in, health insurance comes in handy — irrespective of your age. Often, people make the mistake of underestimating the importance of getting insured in their early years, thinking that it brings value only in the later stages of life. However, no matter what the age group, unforeseen circumstances may strike at any point.

Protecting future income is very critical at every age of an individual. Further, the protection needed also needs to be assessed periodically

You should promptly respond to the income tax notice and provide all the necessary documents. Filing income tax returns (ITR) within the due date is mandatory to avoid any penal action by the income tax department. If your total earnings in a financial year fall under taxable income, then it is necessary to file ITR.

World Health Day 2023: Innovations in health insurance have led to the inclusion of day-care and OPD expenses, and even the cost of preventive health checkups, in certain policies for a reasonably priced premium.

Medical emergencies can happen at any point in one’s life. Rather than spending time arranging finances for bills at the last moment, it is always safe to have a backup ready. And, for that, we have health insurance. These insurance policies provide coverage for the cost of medical expenses incurred by an individual or a group.

India has a great demographic advantage - we are a nation of youngsters, with about 65% of Indians below the age of 35 years. Our bright youngsters are making great strides in all areas and are contributing to the growth story of the country.

New income tax rule 2023: After ushering in new financial year from 1st April 2023, a good number of income tax rules are going to change. These income tax rules have been changed on the basis of Union Budget 2023 proposals that have been passed by the parliament in recently through Finance Bill 20223.

Don’t just go for the policy with the lowest premium. Conditions could apply, and you could end up spending a lot more than you saved on the premium.

Insurance is now being offered for what is called the ABCD illnesses. Depending on the stage or depending on how serious the disease is, they are offering day one cover, which basically means that right after you buy the policy,

ax incentives have always acted as a catalyst in ensuring wider insurance adoption. Though well-balanced and growth-oriented, the most awaited financial event of the year - Union Budget - turned out to be a wistful affair for those expecting a tax rebate over and above the standard limit on insurance policies.

The focus on health insurance lately has taken a different trajectory especially post-COVID where most of us have at least understood that we should have some coverage available at all times.

ITR filing: Last date for submission of income tax return for FY 2019-20 is 31st March 2023.

Most individuals are cognizant of the need to factor in inflation and rising medical expenses while planning for their life’s new chapter.

Insurance and investment are both important aspects of financial planning and should be considered together to create a well-rounded financial plan.

Unlike term plans that provide life risk cover or unit-linked schemes, where returns are market-linked, endowment plans offer maturity benefits upon survival & minimum guaranteed return.

It’s that time of the year again when tax planning is on everyone’s priority list. While one looks at growing their wealth, it’s also important to secure your health as a medical emergency can shake up the foundation of your financial planning.

Family Floater Health Insurance plans work on the same principle as that of individual Health Insurance plans but extend their coverage to all family members.

The policyholder can claim tax benefit of up to `25,000 under Section 80D for self, spouse and children year on year for the entire tenure of the policy.

Life insurance helps safeguard one’s family and oneself against two types of financial risks – untimely death and old age.

"One has to be aware of the list of blacklisted hospitals. Second is the waiting period for specific illnesses. Third is the minimum time of hospitalization which is required for claiming a particular illness in your policy," says Ankit Agrawal, Founder & CEO, Insurance Dekho.

A person who has cancer and doesn't have any health insurance will find it difficult to buy a regular hospitalisation cover. An indemnity-based cancer plan may cover them.

Insurance products currently available in the market can be broadly categorized into two types—a pure vanilla term insurance plan and others. All ‘other’ insurance products would either be market-linked or provide guaranteed returns which are generally equivalent to the level of fixed-deposit rate of returns

Life Insurance Corporation of India (LIC) has launched a campaign to revive old insurance policies that were closed before maturity. Under this, LIC policyholders who shut their policies for any reason can start them again. The campaign will run till March 24, 2023. The insurance behemoth is also offering concessions in late fees during this tenure.