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One of life’s biggest concerns is the safety of our family. Keeping this in mind, LIC( Life Insurance Corporation of India) has launched a One-Time Premium Plan called Jeevan Utsav Plan.
It is quite true that when income feels uncertain and future expenses keep rising, insurance becomes a trusted shield. For decades, LIC( Life Insurance Corporation of India) has stood by that promise of security.
At the beginning of 2026, LIC has made two major announcements: one for this new insurance plan and another about the relief initiative for those whose policies had lapsed due to unavoidable circumstances.
While the news brings hope, it also raises important questions.
What Is LIC Jeevan Utsav Plan?
LIC Jeevan Utsav Single Premium Plan is a newly launched insurance product that will be available for purchase from January 12, 2026. Its biggest attraction is one-time premium payment, after which the policy can provide insurance coverage for the entire lifetime.
This is a non-linked, non-participating plan, meaning it is not tied to the stock market and follows a predefined benefit structure.
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Who May Benefit Most from Jeevan Utsav Plan ?
This plan is designed for individuals who want long-term insurance protection without the hassle of paying premiums repeatedly. However, since it is not market-linked, those expecting high investment-style returns may find it relatively limited.
LIC’s Second Major Move: Lapsed Policy Revival Campaign
Along with the new plan, LIC has introduced a supportive initiative for policyholders whose policies had lapsed. From January 1, 2026, to March 2, 2026, eligible non-linked and micro insurance policies can be revived under a special campaign.
Significant Relief on Late Fees
To ease the financial burden, LIC is offering concessions on late fees under this campaign:
Up to ₹1 lakh premium: 30% concession (maximum ₹3,000)
₹1 lakh to ₹3 lakh: 30% concession (maximum ₹4,000)
Above ₹3 lakh: 30% concession (maximum ₹5,000)
Micro insurance plans: 100% late fee waiver
This initiative could be a lifeline for families whose insurance cover had broken due to financial stress.
Which Policies Are Eligible for Revival?
According to LIC, Policies that are within five years from the first unpaid premium date and have not completed their policy term can be revived under this campaign.
It is important to note that no concessions will be given on medical or health-related requirements.
Why Did LIC Launch This Campaign?
LIC acknowledged that many policyholders fail to pay premiums on time due to difficult personal or financial situations. When a policy lapses, insurance protection ends, leaving families exposed.
The campaign aims to bring people back under the safety net of insurance and restore crucial financial protection.
Conclusion
The LIC Jeevan Utsav Single Premium Plan may be a comforting choice for those seeking simplicity and lifelong insurance coverage through a one-time payment. Meanwhile, the lapsed policy revival campaign offers a second chance to policyholders who lost their coverage due to unavoidable hardships.
While the benefits are clear, every plan has its limitations, making an informed and thoughtful decision is always the wiser path.
Disclaimer:
This article is intended solely for news and general informational purposes. It should not be considered insurance or investment advice. Readers are advised to review LIC’s official documents, terms, and conditions or consult an authorised insurance advisor before purchasing or renewing any policy.
Dr. Bidyut Barun Sarmah, with 22+ years of experience in print, electronic, and digital media, holds an MA and PhD in Mass Communication and Journalism. He has worked with AIR, Doordarshan, and the Publication Division under the Ministry of Information and Broadcasting. A published author and researcher, Dr. Sarmah writes extensively in both Assamese and English. He was also awarded a prestigious fellowship by the Ministry of Culture, Government of India, for his study on journalistic literature—an achievement that highlights his depth of scholarship and contribution to media studies. At Nest of News, he leads the editorial team and contributes across diverse topics.