Tata AIA Life Announces 'Revive' for Reinstating Lapsed Policies

Private life insurer 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, the company said in a release. "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," Tata AIA Life Chief Operating Officer Amitabh Verma said.

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. The offer will be valid till November 30, 2016, it added. Tata AIA Life Insurance Company (Tata AIA Life) is a joint venture company formed by Tata Sons and AIA Group (AIA), whose subsidiaries (collectively AIA or the Group) comprise the largest independent publicly listed pan-Asian life insurance group.