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Reliance Life Insurance has announced an initiative to revive lapsed policies for its policyholders. This will allow policyholders to renew their lapsed policies by simply paying 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.
The revival option will be open across all its insurance products till November 30, a company spokesperson quoted Anup Rau, CEO, Reliance Life Insurance, as saying.
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