Things about Reviving a Lapsed Life Insurance Policy

Sometimes, policyholders forget to renew their life insurance policies because of various reasons. But, if insured know how to revive a lapsed insurance plan, then policyholder may fix this issue without any delay.

Life insurance plan lapses when the due premium has not been paid even after the completion of grace period. A lapsed insurance means the insurance benefits will not be available to secure the financial interest of the dependents in the event of policyholder’s demise.

A lapsed coverage can be revived by the insured person within the period given by insurance companies in India before its expiry. The revival process is based on the policy type as well as on the duration of its lapse.


The requirements of documents for reinstatement or revival of a plan based on the elapsed time between the lapsation date and the date when the revival request has been made by the insured person.

Premium Payment

The unpaid premium and interest on the delayed premium at a cost decided by insurance companies in India has to be paid in order to revive a lapsed life insurance policy. Also, insurer may impose a penalty.


Insurability certificate or a health statement may have to be submitted to the insurance company in India as well. Policyholders should carefully fill this form, signed and then attached with address and identity proof documents.

Points to Note

Revival is like a new agreement between the insurer and the policyholder. But, insurance company in India can put new terms and conditions at that time.

Insurers can give continued coverage for a lapsed life insurance policy at an affordable amount and to the extent of the paid-up policy value. In case the insurance is not revived during the mentioned tenure, then surrender value has to be paid to the policyholder.