LIC Lapsed Policy Revival Guide 2026: Costs, Documents, Timeframes
LIC permits revival within 5 consecutive years from the first unpaid premium (FUPR). Beyond that, revival is impossible and only surrender remains. Policies lapsed 0-6 months usually qualify for simple revival with no medical examination.
What revival actually costs
The revival amount is outstanding premiums plus interest, typically around 9.5% per annum on arrears. No separate penalty applies for most policies - the interest is the cost.
Why revival beats surrender
Reviving a lapsed LIC policy restores your original premium rates, keeps your accumulated bonus intact, and protects tax benefits under Section 80C. Surrendering or buying fresh means higher premiums at your current age and a new waiting period on riders.
An IRDAI-certified advisor can calculate your dues, collect documents, and follow up with LIC end-to-end. See the LIC policy revival service at Insurance Support for free guidance.