5 Schemes to Revive Lapsed LIC Insurance Policy Online in 2026

Key Takeaways

• You have up to 5 years to revive, but act early to keep costs lower.

• Online revival is available for most life insurance plans, including term, ULIP, pension, and child plans.

• Choose the scheme that matches your cash flow – instalment or survival benefit options make it easier.

• Revival restores all original benefits, including bonuses you may have earned earlier.

• Keep your policy active to protect your family from financial risk.

• Check your policy status regularly through the LIC app or website.

Overview of LIC Policy Revival in 2026

A policy lapses when you do not pay the premium even after the grace period. LIC allows revival within 5 years from the date of the first unpaid premium, as long as the policy is still in its premium-paying term and has not completed its full term.

In January 2026, LIC launched a Special Revival Campaign running till 2nd March 2026. It offered up to 30% concession on late fees (maximum ₹5,000) for non-linked plans and 100% waiver for micro-insurance plans. Even after the campaign, standard revival options continue with regular charges.
Most people aged 25 to 55 can handle the process online through the LIC website. For some cases, a simple health declaration may be needed, but LIC keeps requirements reasonable.

Here is a quick comparison table of the 5 revival schemes:

Detailed Explanation of Each Revival Scheme

1. Ordinary Revival Scheme

This is the simplest and most common way to revive your policy. You pay all the missed premiums from the first unpaid one, plus interest (usually around 8% per year) and any late fee. Once paid, your policy returns to its original status with the same sum assured, bonuses, and terms.

It works well for guaranteed return plan, pension plan, or child insurance plan holders. For example, if you are a 35-year-old professional with a family and your endowment policy lapsed 8 months ago, ordinary revival lets you restore full protection quickly. If the lapse is short (within 6 months), you may not even need a health declaration. This scheme is ideal when you want everything exactly as before.

2. Special Revival Scheme

When the total arrears feel too heavy, choose this option. LIC allows you to shift the policy commencement date by up to 2 years. You then pay only one due premium calculated according to your current age at revival.

This reduces your immediate payment and is useful for ulip plan or investment plan holders where market-linked growth has happened. It can be used only once during the entire policy term. Many people in the 40-50 age group prefer this because it makes revival affordable without losing too many benefits.

Note: Surrender value should not have been acquired yet for best results.

3. Instalment Revival Scheme

Cash flow problems are common for working professionals. Under this scheme, you do not pay the full arrears in one go. Instead, you pay a part upfront and the remaining amount in easy monthly or quarterly instalments over a period (usually up to 2 years), along with your regular premium.

This is very helpful for 1 crore term plan or online term insurance holders who want to keep high protection but are facing temporary financial pressure, such as home loan EMIs or children’s education costs. For monthly premium policies, you need to pay at least 6 months’ premium first. It gives breathing space without letting the policy die.

4. Survival Benefit Cum Revival Scheme

If your policy is a money-back or endowment type, you may have survival benefits due at certain intervals. This smart scheme lets you use those payable benefits to automatically clear the overdue premiums and fees.

No extra cash is needed if the benefit amount covers the arrears. It is perfect for parents who have a child insurance plan or traditional money-back policies. For instance, if a survival benefit of ₹50,000 is due and your arrears are ₹40,000, the benefit can revive the policy and you may even get the remaining amount. This keeps your plan active with zero out-of-pocket stress.

5. Loan Cum Revival Scheme

Many policies allow you to take a loan after a few years. If your policy already has a loan or loan eligibility, this scheme uses the loan amount to clear the missed premiums and late fees.

It is convenient for investment plan or guaranteed return plan holders who have borrowed earlier. You revive the policy and continue managing the loan interest. This option saves you from arranging fresh funds and is widely used by people in their 30s and 40s who need liquidity but want to keep insurance cover intact.

How to Revive Your Lapsed LIC Policy Online in 2026 – Step-by-Step Guide

Reviving online is fast and secure for most policies:

• Go to the official LIC website – licindia.in

• Click on “Pay Premium” at the top right.

• Choose “Renewal Premium / Revival”.

• Enter your policy number and other details.

• The portal will show the exact revival amount, interest, and any applicable late fee (check if any residual concession from the 2026 campaign still applies).

• Pay using UPI, net banking, debit/credit card, or other options.

For cases needing a health declaration (Form 680), you can download it online, fill it, and submit it digitally or at the nearest branch. Short lapses often get approved instantly online. You can also check policy status by logging into the LIC portal or sending an SMS.

Updated Late Fee Concession Table (Special Revival Campaign 2026)

Note: The campaign ended on 2nd March 2026, but standard revival continues. No concession on medical requirements.