Why there is only 5 Years term to continue a lapsed policy in LIC?

[Shrikant_Inturi]

Why there is only 5 Years term to continue a lapsed policy in LIC? I have lot many LIC policies which got lapsed after paying 5 or 6 instalments but its now more than 5 years since I had paid the last premium payment, so I cannot continue them. Although I want to continue those policies...even after paying huge penalties. Please help.

Thanks,

Sri

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[Manish_Kumar]

Rules are rules. There should be some limit to carry your insurance policy, if you don't want to continue after 5 years than it is assumed that you are not interested in it. But still LIC sometimes have some special drive to continue lapsed policies. Check your nearest LIC office.

[Manish_Kumar]

See you have just missed an opportunity, wait for next one if you want to continue -