News From Press Revive lapsed insurance during special campaign

Revive lapsed insurance during special campaign

Source: Business Standard Nov 22, 2016

Life insurance companies hold special campaigns not just to sell new policies, but also to revive lapsed ones. They may have one or two such campaigns during the year. The advantage of reviving a lapsed policy during such campaigns is that the interest that is normally charged on unpaid premium is waived off. Or the company may allow the policyholder to continue paying the same premium, without undergoing fresh medical tests.

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