By Tricitynews Reporter
Chandigarh
02nd November:- Tata AIA Life Insurance today announced the launch of
‘Revive’, an initiative to reinstate lapsed insurance policies. As part of the
scheme, customers will be given waivers on health certificate and interest for
selected lapsed policies (subject to underwriting exclusions and other terms
and conditions of the policy). The offer will be valid till November 30,
2016.
Often,
for a number of reasons, policy holders cannot pay their premiums even after
the grace period. The inevitable happens and the insurance policy gets lapsed.
Once lapsed, the policy will not provide any benefit or coverage to the
consumers, exposing them and their loved ones to financial risks. This is an
undesirable scenario dreaded by most policy holders. Tata AIA understands the
inconvenience the lapse can cause customers, since sometimes they may fail to
pay the premium due to unavoidable circumstances.
In
order to protect their customers, Tata AIA Life, through the Revive initiative,
will reinstate lapsed policies with premium due from January 1, 2012 with the subject
to terms and conditions of the offer. As a mark of its commitment towards its
loyal customers, the company has extended the offer even to those policy
holders who have not paid their premium after 4th policy
year.
Commenting
on the Revive campaign, Amitabh
Verma, Chief Operating Officer, Tata AIA Life said that revival
of life insurance policy is like extending a helping hand for policyholders to
safeguard their families financially along with the benefit of no additional
premium cost. It is an opportunity for all those who were unable to pay their
premium on the due date. The initiative is a part of our endeavours to reduce
the protection gap in the country and simplifying processes for better customer
experience.
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