As per the website of the State Bank of India, one can now revive their lapsed policies under the revival fair of SBI Life. Along with this, you can also avail the benefit of a 100 per cent discount on the late premium payment fee. The lapsed policies will be revived for a period of 2 to 3 years. Keep in mind that the last day to renew the policy is September 30.
Those interested in this scheme can log on to https://mypolicy.sbilife.co.in/Campaign/RevivalQuotation.aspx and process the application. You will have to enter the policy number, registered mobile number and your registered email id. After putting in all your information you will then proceed towards the payment section where you can complete the entire process.
Not only the State Bank of India, but the Life Insurance Corporation of India (LIC) is also giving its customers an opportunity to revive their lapsed policies. The insurance company is giving a chance to resume the policy under a special revival campaign till October 9. However, the date of lapse of premium should not be more than five years. Apart from this, the late fee waiver will also be given to the policyholders of LIC.
