How to revive lapsed life insurance policy

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Failure to pay the premium of a life insurance policy before the due date results in the policy lapsing. The cover ceases to be available once the policy lapses. It is possible to revive a lapsed life insurance policy subject to fulfillment of conditions. Life insurers also come up with special campaigns for revival of lapsed policies with concession or waiver of penalties.

  1. Time
  2. Visit insurer branch
  3. Medical report
  4. Unpaid premium
  5. Penalty
  6. Points to note