Life Insurance Corporation of India (LIC) has taken two initiatives in the beginning of the year 2026. While LIC has launched a brand new insurance product, it has also initiated the campaign to revive lapsed policies.

LIC has launched a new insurance product, LIC Jeevan Utsav Single Premium. It will be available for sale from January 12, 2026.

LIC’s Jeevan Utsav Single Premium is a non-par, non-linked, individual, savings, whole life insurance plan, as per information available in a stock exchange filing from LIC. The product details are yet to be announced.

Last year, LIC launched products such as LIC Protection Plus (Plan 886), LIC Bima Kavach (Plan 887), LIC Jan Surakshan – Plan (880), LIC Bima Lakshmi - Plan (881) and LIC Smart Pension Plan (Plan No. 879).

Also read: LIC Insurance Plans 2025: LIC’s new insurance plans introduced in 2025

In a separate announcement, LIC has informed about a special campaign for policyholders whose individual insurance policies have lapsed. This campaign allows eligible policyholders to revive certain non-linked and micro insurance plans with financial concessions. The campaign will be in effect from January 1, 2026 to March 2, 2026 for individual lapsed policies.

LIC is also offering a concession in late fee for all non-linked insurance plans. The concession is up to 30% of the late fee up to a maximum amount of Rs 5,000 if eligible for revival under the scheme.

*Terms & conditions apply.

LIC said in a statement, “Policies can be revived within 5 years from the date of the first unpaid premium subject to satisfying the policy’s terms and conditions. Policies which are in a lapsed condition during the premium paying term and not completed the policy term are eligible to be revived in this campaign.”

LIC said that there will be no concessions on medical/health requirements.

LIC said that the campaign was launched for the benefit of policyholders who were not able to pay premiums on time due to any unfavourable circumstances. Policies must be kept in force to get full insurance benefits. It is always advisable to revive an old policy and restore insurance cover.