Reliance life insurance launches initiative to revive lapsed policies

Reliance Life Insurance Company (RLIC), part of Reliance Capital Limited, announced its new initiative to revive lapsed policies for its policyholders.

The revival initiative allows RLIC policyholders to renew their lapsed policies by simply paying their due premium – without any penalty or medical tests. Generally, a lapsed policy can only be revived by payment of due premiums along with applicable interest and Declaration of Good Health by the policyholder.

“Life insurance is a long-term protection instrument and its benefits are visible over a longer period of time provided the policyholders continue to maintain their policies in force by regularly paying due premiums. With this initiative, we are offering our valued customers an opportunity to renew their lapsed policies and help them avail all policy advantages,” said, Mr. Anup Rau, CEO, Reliance Life Insurance.

Reliance Life Insurance is offering this revival opportunity across all its insurance products till November 30, 2013. The benefit will be available across all Reliance Life Insurance plans and extended to every policyholder across the country.

“We have waived off the interest charge on due premium, medical tests (subject to conditions) and documents for our customers. Our objective is to bring our customers back into the life insurance fold with all protection and other benefits,” Mr. Rau added.